PT BANK Internasional Indonesia Tbk (BII) recorded a significant turnaround when it reported a net profit of 461 billion rupiah (RM157 million) for 2010 compared with a net loss of 41 billion rupiah (RM13.9 million) posted in 2009. (source)
The turnaround was due to greater growth across the core businesses and continuous improvements in all business operations, said Maybank in a statement on Monday.
Maybank is the majority shareholder with a 97.52 per cent equity stake in BII.
As of December 31 2010, BII's loan portfolio increased 35 per cent from year-end 2009, outpacing industry growth of 20 per cent.
As of December 31 2010, the total loan portfolio of the bank reached 53.6 trillion rupiah (RM18.2 billion), a rise of 39.6 trillion rupiah (RM13.46 billion) in the previous corresponding period.
It said the highest contribution to growth came from a 45 per cent rise in consumer loans, followed by small- and medium-sized enterprises (SMEs) and commercial and corporate lending with a growth of 31 per cent and 29 per cent, respectively.
BII president director and chief executive officer Ridha Wirakusumah said the steady BII's growth track in 2010 signified hardwork in fixing basic fundamentals and setting the right foundation for the bank which started in the second half of 2009.
BII managed to maintain a marginal rise in its overhead cost to 3.687 trillion rupiah (RM1.25 billion) in December 2010 compared with 3.257 trillion rupiah(RM1.1 billion) recorded in December 2009 in spite of its aggressive branch and ATM expansion throughout the year.
In the last 12 months, the bank opened 72 new offices in 2010 consisting branches, sub-branches and cash offices throughout Indonesia.
Despite the global crisis in early 2010 affecting some of its corporate accounts, the bank's net non-performing loans ratio rose slightly to 1.74 per cent from 1.58 per cent recorded in December 2009. - Bernama
Source : http://www.btimes.com.my/Current_News/BTIMES/articles/maydon/Article/ - Feb 02, 2011
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