Bank Bali's profit drops slightly<\/p>\n
JAKARTA (JP): Publicly listed Bank Bali announced yesterday a
\n10 percent drop in its net profit in the first half of this year,
\nrecording Rp 67.87 billion (about US$6 million) from Rp 75.87
\nbillion in the same period of 1997.<\/p>\n
According to the bank's unaudited financial statement for the
\nJanuary to June period this year, its deposits rose by more than
\n150 percent to Rp 13.80 trillion as of June, up from Rp 5.43
\ntrillion in the same month of the previous year.<\/p>\n
"The increase in the third party's deposits has prompted us to
\nrecruit some new employees, most of whom are from banks recently
\nclosed by the government," its president Rudy Ramli said in a
\nstatement.<\/p>\n
Outstanding loans reached Rp 1.56 trillion, much lower than
\nthe Rp 5.85 trillion in the same period last year.<\/p>\n
To anticipate an increase in nonperforming loans, Bank Bali
\nhad boosted its loan-loss provisions to Rp 802.81 billion in the
\nfirst six months of this year, compared to Rp 100.70 billion in
\nthe corresponding period last year.<\/p>\n
Total assets rose to Rp 21 trillion, over 8.96 trillion in the
\nsame period last year.<\/p>\n
Bank Bali's capital adequacy ratio is 7.64 percent, higher
\nthan the minimum 4 percent required for the year's end.<\/p>\n
It based its financial statement on a rupiah-dollar exchange
\nrate of Rp 14,900, compared to the rate of Rp 2,450 in June last
\nyear. (aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-balis-profit-drops-slightly-1447893297",
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