BJB president director Bien Subiantoro said that the company had booked higher net profits due to a rise in interest income and a reduction in its cost of funds.

"Interest income increased as lending grew 36 percent to Rp 37.8 trillion year-on-year," he said in a statement.

According to Bien, the bank reduced its cost of funds due to a decline in its amount of expensive funds (time deposits), which dropped to Rp 22.62 trillion down 30.1 percent from Rp 32.3 trillion in the first quarter of 2012.

Meanwhile, its so-called cheap funds (checking accounts) increased 28.5 percent y-o-y to Rp 15.4 trillion, while savings increased 42.5 percent to Rp 7.1 trillion. "BJB's total assets reached Rp 68.4 trillion, an increase of 7.4 percent from the same period last year," he said.

"The housing loans (KPR) sector reached Rp 2.287 trillion , recording the highest growth of 244 percent from the same period last year," he added.

The growth reflected an increase in business activities, which pushed up BJB's profitability. The company's return on assets (ROA) during the period was 2.4 percent and the company's the return on equity (ROE) was 24.2 percent.

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