BTN posts fourth-quarter profit of Rp1.5 tln

Jakarta (ANTARA News) - The state-owned bank PT Bank Tabungan Negara (BTN) Tbk reported a net profit of Rp1.53 trillion in the quarter ending December 2013, a 14.53 percent rise from Rp1.36 trillion during the same period in 2012.

"The 2013 profit was fueled by net interest income that rose to Rp5.63 trillion," BTN President Director Maryono stated here on Monday.

The operating profit edged up to Rp2.13 trillion, he pointed out.

"Our fee-based income reached Rp724 billion, climbing 34.1 percent as compared to the previous year," he claimed.

He expressed optimism that the bank will be able to achieve its net profit target of Rp2 trillion for 2014 by lowering non-performing loans (NPLs), among others.

"If NPLs can be kept down by up to 2.61 percent as targeted, our net profit will be larger," he emphasized.

The NPLs reached 3.04 percent of the overall outstanding loans at the end of 2013, thereby showing a decline as compared to last year, he remarked.

The bank also saw its assets grow to reach Rp111.7 trillion in December 2013, up 17.38 percent as compared to that recorded in the previous year. Meanwhile, the amount of third party funds deposited in the bank increased 19.24 percent to reach Rp96.21 trillion.

During 2013, the bank channeled credits worth Rp100.56 trillion, up 23.41 percent from Rp81.41 trillion the year before. (*)