Bank Permata to retain 2009 net profits

JAKARTA: During an annual meeting on Tuesday, Permata Bank’s shareholders approved the management’s proposal not to distribute dividends and would instead use the bank’s net profits last year to strengthen its capital structure.

Permata president director David Fletcher said the shareholders also approved the annual financial reports and audited financial statements for the 2009 financial year  ended Dec. 31. Permata Bank recorded robust loan growth of 18 percent to Rp 41.20 trillion in 2009, reflecting the bank’s commitment to its intermediary function in the Indonesian economy, he said.

In 2009, the bank’s total operating income increased 15 percent to Rp 3.74 trillion as a result of continuing credit and growth of other operating revenues. Net interest income increased 15 percent to Rp 2.96 trillion in 2009, while other operating income also increased 15 percent to Rp785 billion, Fletcher said.. — JP