BANK RAKYAT INDONESIA POSTS STRONG GROWTH IN NET PROFIT IN JAN-SEPT

The net profit of Bank Rakyat Indonesia (BRI) (JSX:BBRI) shot up 25.1 per cent year-on-year to Rp5.3 trillion (US$570 million) in the first nine months of this year on strong growth of net interest income.

The state lender posted a 13.6 per cent rise in net interest income to Rp16.69 trillion thanks to a surge in credit expansion as against cost of fund of Rp9.05 trillion.

The bank posted a 26.9 per cent increase in outstanding credit by the end of the nine month period to Rp219.56 trillion.

A stronger increase of 96.14 per cent was recorded in fee based income and other operating income to Rp2.72 trillion, the newspaper Bisnis Indonesia reported.

BRI President Sofyan Basir said the bank posted an increase in net profit when its net interest margin was cut to 9.21 per cent from 10.61 per cent.

(ANTARA) bl

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