BRI’s profits up 56.5%, BTN nets Rp 1.11t
Esther Samboh, The Jakarta Post, Jakarta | Tue, 02/21/2012 9:34 PM
Two state-owned lending giants, PT Bank Rakyat Indonesia Tbk (BBRI) and PT Bank Tabungan Negara Tbk (BBTN), saw a surge in net profits last year due to rising interest income, according to unaudited financial results published by Bank Indonesia (BI).
Net profits of BRI, Indonesia’s largest bank by lending, which focuses on micro loans, soared 56.5 percent in 2011 to Rp 14.14 trillion (US$1.56 billion) as net interest income (NII) grew 22.79 percent to Rp 34.46 trillion, while non-interest operating costs increased slightly by 3.08 percent to Rp 17.02 trillion.
As of December last year, BRI had outstanding loans of Rp 283.88 trillion, up 17.76 percent from the same period in 2010.
Housing loan expert BTN managed to surpass the Rp 1 trillion mark for net profits last year as the bottom line grew 37.27 percent to Rp 1.11 trillion after an increase in NII by 14.39 percent to Rp 3.67 trillion.
BTN had outstanding loans of Rp 48.62 trillion at the end of 2011, representing a 22.03 percent increase from the previous year.
