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Panin Bank posts 22% net profit growth in H1
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Bank Central Asia (BCA) president director Jahja Setiaatmadja (front left) and Panin Bank president director Herwidayatmo (right) ink their signatures during the signing ceremony of a memorandum of understanding (MoU) regarding their cooperation in the e-money business on Nov. 2, 2016. (JP/Anton Hermansyah)
P
rivate lender Panin Bank reported on Friday a 22 percent increase in net profits during the first half of 2017, an achievement it attributed to a strong net interest income stream and other operational income streams, including fee-based income.
In a press release, the publicly listed bank said its net profits increased to Rp 1.4 trillion (US$105.1 million) in the January-June period in comparison to the Rp 1.15 trillion collected during the same period last year.
(Read also: Private lender PaninBank records 26.9% net profit growth in Q1)
Meanwhile, the lender saw its outstanding loans reach Rp 138.1 trillion as of June, up by 3.15 percent year-on-year (yoy).
Its third-party funds also increased by 5.38 percent to Rp 141.44 trillion from Rp 134.21 trillion.
Panin Bank, however, saw its gross non-performing loan (NPL) ratio increase to 2.91 percent as of last month from 2.74 percent a year ago. The lender's net NPL ratio also increased to 0.91 percent from 0.62 percent. (mrc/hwa)
