OCBC NISP upbeat net profits to exceed target

BANDUNG: Publicly listed Bank OCBC NISP is upbeat that its net profits will exceed its target of 25 percent this year, given the solid performance in the first nine months of this year.

“We hope the net profits will be higher than the target,” Bank OCBC NISP corporate communications division head Lanny Goenawi said on the sidelines of a company workshop on Thursday evening.

In an audited report, the company booked a total net profit of Rp 320.99 billion (US$35.6 million) last year. The bank will likely exceed the moderate expectation as an unaudited financial report up to the third quarter this year showed that net profits reached Rp 522.24 billion.

Lanny also said that the bank expected lending to grow by about 25 percent by the end of the year from last year’s Rp 27.96 trillion. The bank’s lending reached a total of Rp 36 trillion up to the third quarter of the year.