Danamon net Rp 640b in profit<\/p>\n
PT Bank Danamon Indonesia posted a 17 percent increase in
\nfirst-quarter net profit largely due to an increase in net
\ninterest income, the bank's Chief Financial Officer Vera Eve Liem
\ntold reporters on Thursday.<\/p>\n
Net profit for the quarter rose to Rp 640 billion from Rp 548
\nbillion in the year-ago period.<\/p>\n
Net interest income at Indonesia's fifth-largest lender gained
\n10 percent to Rp 1.1 trillion from Rp 1.0 trillion due to a
\ndrop in interest payments for time deposits and an increase in
\nlending, Vera said.<\/p>\n
She said the bank's outstanding loans in the January-March
\nperiod grew 45 percent to Rp 33.4 trillion from Rp 20.6 trillion
\na year earlier.<\/p>\n
Bank Danamon's interest margin stood at 9.2 percent at the end
\nof March, compared with 8.2 percent a year earlier.<\/p>\n
Vera said the bank plans to maintain net interest margin
\nbetween 8 percent and 9 percent for the rest 2005.<\/p>\n
bBank Danamon's strong profit likely came from efforts to
\nboost loans, especially to the growing consumer sector, analysts
\nsaid. Indonesian consumer spending has risen sharply in the past
\ntwo years because of low interest rates.<\/p>\n
At the end of March, the bank had total assets of Rp 58.81
\ntrillion, compared with Rp 52.68 trillion a year earlier.<\/p>\n
Bank Danamon is majority owned by Singapore's state-owned
\ninvestment company Temasek Holdings Pte. Ltd.-- Dow Jones<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/danamon-net-rp-640b-in-profit-1447893297",
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"sponsor": "Okusi Associates",
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