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Economy in brief: State-owned banks book bigger profits
The net profits of the 10 largest banks, both state-owned and private-owned, across the country recorded a 5
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he net profits of the 10 largest banks, both state-owned and private-owned, across the country recorded a 5.18 percent rise to Rp 82.13 trillion (US$6.32 billion) in 2014 from Rp 78.09 trillion in the previous year.
The banks are Bank Mandiri, Bank Rakyat Indonesia (BRI), Bank Central Asia (BCA), Bank Negara Indonesia (BNI), Bank CIMB Niaga, Bank Danamon, Bank Permata, Bank Panin, Bank Tabungan Negara (BTN) and Bank International Indonesia (BII).
According to data, the net profits of four state-owned lenders Bank Mandiri, BRI, BNI and BTN, are higher than the other six biggest private banks, kompas.com reported on Tuesday.
The four state-run banks recorded Rp 56 trillion in net profits throughout last year, up by 12.07 percent from the Rp 49.97 trillion booked in 2013.
Meanwhile, the private banks saw net profits down by 7.06 percent in 2014 to Rp 26.13 trillion from the Rp 28.12 trillion recorded in the previous period.
In addition, data showed that BRI recorded the highest increase in its net profits last year among state-owned lenders.
BRI booked Rp 24.2 trillion net profits throughout 2014, rising by 14.35 percent from Rp 21.16 trillion in 2013.
Bank Mandiri came next with Rp 19.9 trillion net profits in the 2014 fiscal year from Rp 18.2 trillion in the previous fiscal year. Meanwhile, in the private sector, only BCA and Bank Panin were able to book higher net profits than last year. BCA and Panin recorded 15.7 percent and 4.42 percent growth in profits in 2014, respectively.
