www.theindonesiatoday.com - JAKARTA, Indonesia Today - Bank QNB Kesawan, controlled by Qatar National Bank (QNB), booked a tiny net profit of Rp6.18 billion last year.
It is a substantial growth from Rp1.2 billion in 2010, but relatively small compared to the growth of its equity to Rp892.57 billion from Rp178 billion in December 2010. (source)
QNB Kesawan had its total assets surged 39% to Rp3.59 trillion, mostly due to capital injection. The bank's net interest income soared to Rp163 billion, but its other operating expenses also expanded to Rp158.4 billion.
QNB entered the bank through the issue of 3.56 billion new shares at Rp250 per share. QNB was stand-by buyer of the rights issue (2.478 billion shares at Rp250 per share or about Rp619.68 billion of investment). (Indonesia Today)
Source: http://www.theindonesiatoday.com/news/finance/banking/20477-qnb-kesawan-profit-expanded.html- April 8, 2012
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