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Bank Panin books Rp 707b profit in first quarter
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A teller in Bank Panin Syariah, a subsidiary of private lender Bank Panin, serves a customer in Jakarta. The lender saw its net profit increase modestly by 6.06 percent year-on-year in the first quarter of this year. (Kontan/Fransiskus Simbolon)
P
rivate lender Bank Panin booked Rp 707 billion (US$50.9 million) in net profit in the first quarter of 2018, up 6.6 percent year-on-year (yoy), driven by an increase in net interest income and provisions made for impairments.
The bank recorded total outstanding loans of Rp 141.15 trillion, up 6.7 percent yoy. Meanwhile, its third-party funds rose 1.1 percent yoy to Rp 147.32 trillion.
“The majority of the loan portfolio, 61 percent, came from commercial loans, while the remainder came from the corporate segment,” Bank Panin president director Herwidayatmo said in a statement on Friday.
[RA::http://www.thejakartapost.com/news/2017/07/21/panin-bank-posts-22-net-profit-growth-in-h1.html]
The lender’s total assets rose to Rp 214.54 trillion, up 3.8 percent from the same period a year earlier. Moreover, its equity stood at Rp 37.29 trillion with a capital adequacy ratio (CAR) of 22.27 percent.
Bank Panin’s gross non-performing (NPL) loan ratio in the first three months, however, increased to 2.99 percent from 2.91 percent in the same period last year. Its net NPL stood at 0.83 percent, compared to 0.84 percent in the past year.
Bank Panin now has 561 branches and is expanding its services through digital banking, mobile banking and internet banking. (lnd)
