BCA profit soars 88% in first quarter<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
The country's largest retail bank PT Bank Central Asia (BCA)
\nannounced on Monday an 88 percent increase in its first quarter
\nnet profit to Rp 832.7 billion (US$92.30 million), due to a sharp
\nrise in interest income.<\/p>\n
BCA's interest income increased 47 percent to Rp 1.54 trillion
\nduring the quarter compared to Rp 1.05 trillion in 2001, company
\npresident DE Setijoso told reporters on Monday following the
\ncompany's shareholders' meeting.<\/p>\n
Operating income sharply increased to Rp 1.02 trillion from Rp
\n546.77 billion last year.<\/p>\n
Setijoso also explained that the shareholders had agreed to
\npay a final dividend of Rp 140 per share on top the interim
\ndividend of Rp 85 per share paid in December last year.<\/p>\n
This brought the total dividend to Rp 225 per share,
\nreflecting a payout ratio of nearly 43 percent of BCA's net
\nprofit of Rp 3.12 trillion for last year.<\/p>\n
BCA's total assets are predicted to grow to between Rp 110 and
\nRp 115 trillion this year from Rp 103 trillion last year, while
\ntotal lending is targeted to increase to about Rp 21 trillion
\nfrom Rp 14.7 trillion.<\/p>\n
Setijoso was also quoted by Antara as saying that the bank had
\nno plans to lay off workers following the recent acquisition of
\n51 percent of the shares by U.S. investment firm Farallon
\nCapital.<\/p>\n
Farallon, he said, would not be involved in the day-to-day
\noperations of the bank and had pledged not to install its staff
\nin strategic or managerial level positions in the bank.<\/p>\n
The acquisition of the bank by a foreign-based firm had
\nprompted fears among employee, repeatedly and publicly raised by
\nthe bank's labor union, of a massive lay-off.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bca-profit-soars-88-in-first-quarter-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}