Lippo Bank's profit up<\/p>\n
JAKARTA (JP): Publicly listed Lippo Bank of the widely
\ndiversified Lippo Group posted a 58.8 percent rise in net profit
\nto Rp 87.2 billion (US$36 million) in the first half this year.<\/p>\n
The bank said yesterday that income from operations rose 60
\npercent to Rp 121.2 billion and pretax income grew 57.1 percent
\nto Rp 124 billion.<\/p>\n
Lippo Bank raised its full year net profit forecast to Rp 180
\nbillion from Rp 170 billion because of higher yields on interbank
\nplacements and healthy loans growth.<\/p>\n
Higher interbank borrowing rates were having a positive impact
\non the back of the bank's strong liquidity and its position as a
\nnet lender in the interbank market while maintaining cost
\ndiscipline.<\/p>\n
The bank said funds mobilization remained strong with customer
\ndeposits growing 29.4 percent to Rp 10.3 trillion.<\/p>\n
These new funds have helped the bank maintain a conservative
\nloan-to-deposit ratio of 80.6 percent compared with an industry
\naverage of more than 100 percent.<\/p>\n
The bank's president Markus Permadi said \"prudent asset and
\nliability management, together with a tight rein on expenses were
\nimportant in helping us deliver such strong results in this
\nyear.\" (aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/lippo-banks-profit-up-1447893297",
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