BCA reports 17.7 percent increase in profit to Rp12.2 trillion

Jakarta (ANTARA News) - PT Bank Central Asia Tbk (BCA) reported Rp12.2 trillion in net profit in the first nine months of this year or an increase of 17.7 percent from Rp10.4 trillion in the same period last year.

President director of the countrys third largest bank in assets Jahja Setiaatmadja attributed the increase to 22.9 percent rise in the bank operating income to Rp30.1 trillion on-year.

"The performance of the bank was positive . BCA has succeeded in maintaining a solid performance amid the political transition and economic slowdown," Jahja said here on Thursday.

He said under the unfavorable condition, the publicly trade BCA continues to practice prudent risk management to expand good quality credits and at the same time encourage transactions through "electronic delivery channel", which is lower in cost.

Amid the economic slowdown, the bank had succeeded in maintaining solid financing with third party fund of Rp432 trillion, which grew 7.9 percent from a year earlier, he said.

"BCA remains focused on core superiority and maintaining a healthy growth," he added.

Jahja Setiaatmadja said BCA portfolio credits in the third quarter of 2014 rose 10.6 percent to Rp330.7 trillion.

The credit growth was attributable more to business financing credits that accounted for 85.5 percent of the total growth of the portfolio credits.

"Corporate credits made up Rp112.5 trillion of the outstanding credits by the end of September 2014, or an increase of 13.7 percent on year; commercial credits and small and medium business credits grew 11.8 percent to Rp128.5 trillion and consumer credits increased 5.4 percent to Rp89.7 trillion," Jahja said.

He said that the banks loan to deposit ratio (LDR) was 75.,9 percent and "secondary reserves" totaled Rp74.3 trillion or 17.2 percent of the total amount of third party funds by the end of September 2014.

"The non performing credits was kept at a low level of 0.7 percent . The capital adequacy ratio (CAR) was 17.2 percent by the end of September 2014, up from from 15.8 percent a tear earlier --all radiating a healthy position of the bank capital," he said.(*)

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