The increase in the profit was fueled by strong credit growth in the mass market and small and medium business segments as well as by fee income hike, Bank Danamon President Director Henry Ho said on Tuesday.
"The strong domestic economic fundamentals reflected by the country`s upgraded debt rating to investment grade, regardless of debt problems faced by European countries and slow recovery of the US economy from crisis has led to a conducive business climate that enabled us to reach that high credit growth," he said.
The amount of credits extended by Bank Danamon last year increased 23 percent to Rp101.7 trillion from Rp82.7 trillion the year before, he said.
The amount of credits extended to the mass market segment including motorcycle loan, durable goods and self-employed mass market rose 26 percent to Rp59.25 trillion.
"The credits extended to the mass market accounted for 58 percent of the bank`s overall credit portfolio," he said.
Henry said the amount of credits extended to small and medium businesses and commercial businesses grew 23 percent to Rp24 trillion and accounted for 24 percent of the overall credits extended.
"The amount of credits extended to small-and medium-sized businesses grew 27 percent to Rp14.2 trillion while the amount of commercial credits rose 19 percent to Rp10 trillion," he said.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2012
