BII’s net profits surge 66 percent

JAKARTA. Publicly-listed Bank Internasional Indonesia (BII) reported massive growth in net profits during the first nine months of the year on the back of strong lending disbursements.

BII booked Rp 922 billion (US$95 million) in net profits up to the third quarter of the year, increasing by 66 percent compared to the same period last year.

The increase was supported by a 28 percent growth in net interest income to Rp 3.9 trillion during the January to September period versus Rp 3.1 trillion in the same period last year. The company said that it maintained its fee-based income at Rp 1.6 trillion despite the reduction of loan administration fees related to its subsidiary consolidating motorcycle financing.

BII’s total lending reached Rp 75.9 trillion as of September of that year, rising by 22 percent from Rp 62 trillion in the same period last year.

Despite the lending expansion, BII managed to reduce its non-performing loans at a level of 2.08 percent as of the end of this September, compared to 2.54 percent in September last year. The bank’s capital adequacy ratio stood at 12.33 percent and loan to deposit ratio at 94.26 percent.

BII also saw 5 percent lower provision expenses to Rp 868 billion as of end of this September, compared to Rp 912 billion year on year. (The Jakarta Post)