Banking sector profits up 27 percent in 2010: BI

Indonesia’s banking sector booked profits of Rp 53.7 trillion (US$6.1 billion) in 2010, up 26.8 percent from 2009, according to the central bank.

“Most of the profits were produced by state-owned banks, totaling 39.7 percent; while private banks contributed 36.8 percent to the profits,” Linda Maulidina, a researcher at Bank Indonesia’s research and banking regulation directorate, said in Jakarta on Monday, as reported by Antara news agency.

Linda did not talk about the profits of the central bank or regionally-owned banks.

The increased profits could be attributed to credit growth which topped 22.8 percent in 2010, among other things, she said.

Banks’ net interest income reached Rp 12.5 trillion per month in 2010, up from Rp 10.8 trillion per month in 2009, according to Linda.