BNI`s profit up 24 pct in Q3

The high growth of net profit was the result of the bank`s improving performance in providing conventional banking services such as credits and improving extra services such as cash management and trade finance.
Jakarta (ANTARA News) - State-owned Bank Negara Indonesia (BNI), the country`s fourth largest lender, posted a net profit of Rp5.04 trillion for the quarter ended September 30, up 24.5 percent against Rp4.1 trillion in a corresponding period last year.

The high growth of net profit was the result of the bank`s improving performance in providing conventional banking services such as credits and improving extra services such as cash management and trade finance, BNI President Director Gatot M Suwondo said here on Monday.

Operating income grew 12.l percent, fueled by net interest income which rose 19 percent in the third quarter of 2012 to Rp11.2 trillion from Rp9.4 trillion in the same period a year earlier.

Loan-to-deposit ratio (LDR) meanwhile fell to 76.8 percent in the third quarter of 2012 from 78.3 percent in a corresponding period last year, caused by a decline in US dollar-denominated financing in line with the bank`s policy to focus on rupiah-denominated financing.

The amount of third party fund placement in the quarter ended September 30 reached Rp238.9 trillion against Rp204.4 trillion in the same period last year.

As per September 30, 2012 the bank`s assets reached Rp310.4 trillion, a 15.6 percent increase compared with the same period last year.

The asset growth was particularly contributed by a 14.8 percent rise in credit value to Rp184.5 trillion in the third quarter of 2012 from Rp160.7 trillion in the same period a year earlier. This suggests that the bank`s productive assets continue to increase and serve as a main source of income.(*)

Comments