{
    "success": true,
    "data": {
        "id": 1455632,
        "msgid": "bca-set-to-beat-2004-profit-forecast-1447893297",
        "date": "2004-09-21 00:00:00",
        "title": "BCA set to beat 2004 profit forecast",
        "author": null,
        "source": "AP",
        "tags": null,
        "topic": null,
        "summary": "BCA set to beat 2004 profit forecast Bloomberg, Jakarta Bank Central Asia, Indonesia's second-biggest lender, expects to beat its 2004 profit forecast as faster economic growth encourages consumers and companies to borrow more, president commissioner Eugene Galbraith said. The Jakarta-based lender had forecast net income to increase 42 percent to Rp 3.4 trillion (US$376.7 million) this year from Rp 2.39 trillion in 2003.",
        "content": "<p>BCA set to beat 2004 profit forecast<\/p>\n<p>Bloomberg, Jakarta<\/p>\n<p>Bank Central Asia, Indonesia's second-biggest lender, expects<br>\nto beat its 2004 profit forecast as faster economic growth<br>\nencourages consumers and companies to borrow more, president<br>\ncommissioner Eugene Galbraith said.<\/p>\n<p>The Jakarta-based lender had forecast net income to increase<br>\n42 percent to Rp 3.4 trillion (US$376.7 million) this year from<br>\nRp 2.39 trillion in 2003.<\/p>\n<p>\"The initial guidance we had at the beginning of the year is<br>\nclearly going to be exceeded,\" Galbraith said in an interview.<br>\n\"Our consumer lending is expanding very nicely. Our loans to<br>\nsmall businesses and to larger enterprises are also showing nice<br>\npercentage increases.\"<\/p>\n<p>Bank Central Asia and other Indonesian banks are benefiting as<br>\ninterest rates at six-year lows propel faster loan growth in<br>\nSoutheast Asia's largest economy, and help lenders pare funding<br>\ncosts. The economy is forecast by the government to expand 4.8<br>\npercent this year and 5.4 percent in 2005.<\/p>\n<p>Increased consumer spending, which already makes up 70 percent<br>\nof the $208 billion economy, is spurring the construction of more<br>\nhomes and shopping malls in a nation that votes today in its<br>\nfirst direct presidential election.<\/p>\n<p>Bank Central Asia's first-half net income rose 48 percent to<br>\nRp 1.51 trillion. Consumer loans more than doubled to Rp 4.4<br>\ntrillion at the end of June.<\/p>\n<p>Bank Central Asia, a unit of U.S. hedge fund Farallon Capital<br>\nManagement LLC, has targeted extending as much as Rp 10 trillion<br>\nin new loans this year, from Rp 9 trillion last year. It expects<br>\nto make Rp 4 trillion of new loans in the second half of 2004.<\/p>\n<p>\"For this year there is some possibility of exceeding the<br>\ntarget,\" Bank Central's Galbraith said. Still, \"continued growth<br>\nfrom where we are now will be much more difficult because of the<br>\ndifficulty of finding both good projects and qualified, secure<br>\nborrowers.\"<\/p>\n<p>Bank Central Asia, which runs 761 domestic branches, had Rp<br>\n141.74 trillion of assets at the end of June.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/bca-set-to-beat-2004-profit-forecast-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}