{
    "success": true,
    "data": {
        "id": 1042442,
        "msgid": "bank-bali-expects-22-increase-in-net-profits-1447893297",
        "date": "1996-02-15 00:00:00",
        "title": "Bank Bali expects 22% increase in net profits",
        "author": null,
        "source": "",
        "tags": null,
        "topic": null,
        "summary": "Bank Bali expects 22% increase in net profits JAKARTA (JP): The publicly-listed Bank Bali has predicted a conservative 22 percent increase in net profits, from last year's unaudited figure of Rp 91 billion (US$39.3 million), for this calendar year. The projected profit growth for this year is much lower than the 30 percent rise in net profit for last year, bank executive Firman Soetjahja, said.",
        "content": "<p>Bank Bali expects 22% increase in net profits<\/p>\n<p>JAKARTA (JP): The publicly-listed Bank Bali has predicted a<br>\nconservative 22 percent increase in net profits, from last year's<br>\nunaudited figure of Rp 91 billion (US$39.3 million), for this<br>\ncalendar year.<\/p>\n<p>The projected profit growth for this year is much lower than<br>\nthe 30 percent rise in net profit for last year, bank executive<br>\nFirman Soetjahja, said.<\/p>\n<p>\"We prefer a conservative prediction because it will be very<br>\ndifficult to generate a large income this year after the<br>\ngovernment introduced tighter monetary policies for the industry<br>\nlast year,\" he added.<\/p>\n<p>Firman cited an example that a one-percentage-point increase<br>\nin reserve requirement set by the central bank, Bank Indonesia,<br>\nwould mean a 0.50 percent increase in costs for Bank Bali.<\/p>\n<p>Bank Indonesia has required all commercial banks to increase<br>\ntheir minimum reserves from 2 percent of their funds to 3<br>\npercent, beginning this month.<\/p>\n<p>\"And the higher costs will reduce our incomes by up to Rp 14<br>\nbillion this year,\" Firman said.<\/p>\n<p>He also said that Bank Bali will reduce its lending to the<br>\nproperty sector, which last year accounted for 23 percent of its<br>\ntotal credits.<\/p>\n<p>Based on an unaudited report, the bank's total assets rose by<br>\n38 percent to Rp 6.5 trillion as of the end of last year; its<br>\ntotal credits were Rp 4.5 trillion.<\/p>\n<p>Firman said that about 23 percent of the bank's total credits<br>\nwere allocated to the property sector, 27 percent to the trading<br>\nsector, 28 percent to the manufacturing sector and the remaining<br>\n22 percent to other sectors.<\/p>\n<p>He added that Bank Bali's credits to its own group's<br>\nbusinesses was less than one percent of its total credits<br>\noutstanding last year.<\/p>\n<p>Most of Bank Bali's group companies operate in financial<br>\nservices such as insurance, leasing, securities and multi-<br>\nfinance.<\/p>\n<p>Firman also said that Bank Bali will open two branch offices<br>\nin the towns of Pekanbaru, Riau, and Yogyakarta this year,<br>\nincreasing the total number of branches to 131. (08)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/bank-bali-expects-22-increase-in-net-profits-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}