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View all search resultsEconomy in brief: Nobu Bank eyes double-digit loan growth
Bank Nationalnobu (Nobu Bank), controlled by Indonesian billionaire Mochtar Riady, is looking for moderate growth in net profit with higher credit growth and increasing fee-based income
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ank Nationalnobu (Nobu Bank), controlled by Indonesian billionaire Mochtar Riady, is looking for moderate growth in net profit with higher credit growth and increasing fee-based income.
The bank aims to boost its net profit by 8.9 percent to Rp 33 billion (US$2.47 million) in 2017 from Rp 30.9 billion the previous year. “This year, we target to book Rp 33 billion in net profit,” Nobu Bank president director Suhaimin Djohan said on Friday during the company’s public expose.
To reach the targeted profit, the lender will focus on four sectors for its loan disbursement comprising trade, consumer goods, services and financial intermediaries. It aims for 20 to 25 percent loan growth in 2017 to between Rp 4.78 trillion and Rp 4.98 trillion.
“We see that these sectors are resilient, so when other industries such as mining or plantation slow down, we will not be affected,” Suhaimin told reporters.
Nobu had disbursed Rp 3.99 trillion in 2016, up by 14.7 percent year-on-year with a zero non-performing loan (NPL) ratio, unchanged from the previous year.
