{
    "success": true,
    "data": {
        "id": 1498648,
        "msgid": "bank-danamons-net-profit-leaps-863-percent-1447893297",
        "date": "2004-04-23 00:00:00",
        "title": "Bank Danamon's net profit leaps 86.3 percent",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Bank Danamon's net profit leaps 86.3 percent Zakki Hakim, The Jakarta Post, Jakarta Bank Danamon announced on Thursday that its net profit in the first quarter of this year jumped by 86.3 percent to Rp 503 billion (US$59.18 million) compared to Rp 270 billion in the same period last year. Chief financial officer Vera Eve Lim said the increase was mainly driven by higher net interest income, which was up by 55 percent to Rp 944 billion.",
        "content": "<p>Bank Danamon's net profit leaps 86.3 percent<\/p>\n<p>Zakki Hakim, The Jakarta Post, Jakarta<\/p>\n<p>Bank Danamon announced on Thursday that its net profit in the<br>\nfirst quarter of this year jumped by 86.3 percent to Rp 503<br>\nbillion (US$59.18 million) compared to Rp 270 billion in the same<br>\nperiod last year.<\/p>\n<p>Chief financial officer Vera Eve Lim said the increase was<br>\nmainly driven by higher net interest income, which was up by 55<br>\npercent to Rp 944 billion.<\/p>\n<p>She acknowledge that the higher net interest margin was a<br>\nresult of the declining trend in Bank Indonesia's benchmark<br>\ninterest rate, which pushed down the cost of funds, or interest<br>\npaid to depositors.<\/p>\n<p>Return on average asset (ROAA) and return on average equity<br>\n(ROAE) improved to 3.8 percent and 34.4 percent, respectively.<\/p>\n<p>The publicly listed bank, however, said that its nonperforming<br>\nloan (NPL) ratio increased to 4.7 percent (near the Bank<br>\nIndonesia 5 percent limit) from 2.8 percent.<\/p>\n<p>The bank said this was related to the purchase of NPL assets<br>\nfrom the now defunct Indonesian Bank Restructuring Agency (IBRA).<\/p>\n<p>But its capital adequacy ratio (CAR) increased to 38.3<br>\npercent from 25.1 percent thanks to its $300 million subordinated<br>\ndebt issued in March, Vera said.<\/p>\n<p>She also said that outstanding loans increased to Rp 20.96<br>\ntrillion from Rp 20.28 trillion, while loan-to-deposit ratio<br>\nstood at 54.1 percent as of March 31.<\/p>\n<p>Danamon, the country's fifth largest bank in terms of assets,<br>\nis 61.88 percent owned by a consortium of Temasek Holdings and<br>\nDeutsche Bank.<\/p>\n<p>The bank has just completed the acquisition of a controlling<br>\nstake in finance company PT Adira Dinamika Multifinance.<\/p>\n<p>Danamon said that the acquisition was intended to further<br>\nstrengthen the bank's consumer banking business.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/bank-danamons-net-profit-leaps-863-percent-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}