{
    "success": true,
    "data": {
        "id": 1485365,
        "msgid": "nisp-net-profit-surges-70-1447893297",
        "date": "2004-10-29 00:00:00",
        "title": "NISP net profit surges 70%",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "NISP net profit surges 70% Rendi A. Witular, The Jakarta Post, Jakarta Publicly listed Bank NISP, a medium-sized bank, posted a higher net profit during the first nine months of this year, primarily on the lower cost of funds. NISP announced on Thursday its net profit during the first nine month ending September jumped by 70 percent to Rp 201.5 billion (US$22.5 million), compared to Rp 118.7 billion in the same period last year.",
        "content": "<p>NISP net profit surges 70%<\/p>\n<p>Rendi A. Witular, The Jakarta Post, Jakarta<\/p>\n<p>Publicly listed Bank NISP, a medium-sized bank, posted a<br>\nhigher net profit during the first nine months of this year,<br>\nprimarily on the lower cost of funds.<\/p>\n<p>NISP announced on Thursday its net profit during the first<br>\nnine month ending September jumped by 70 percent to Rp 201.5<br>\nbillion (US$22.5 million), compared to Rp 118.7 billion in the<br>\nsame period last year.<\/p>\n<p>The bank's income from interest declined to Rp 1.08 trillion<br>\nfrom Rp 1.14 trillion, but its net interest income increased to<br>\nRp 470.2 billion from Rp 307.6 billion as the declining interest<br>\nrate environment made the cost of funds cheaper.<\/p>\n<p>\"Net interest income increased due to the rise in net interest<br>\nmargins, which have benefited from lower funding costs,\" said<br>\nNISP president director Pramukti Surjaudaja on Thursday.<\/p>\n<p>Declines in Bank Indonesia's benchmark interest rate have<br>\npushed down interest rates for savings and deposits, thus<br>\nreducing the cost of funds.<\/p>\n<p>NISP's interest expenses declined to Rp 612.9 billion during<br>\nthe first nine months of this year from Rp 841.4 billion in the<br>\nsame period last year.<\/p>\n<p>The bank's net interest margin improved to 4.70 percent from<br>\n3.56 percent in the same period last year.<\/p>\n<p>NISP, which was originally named NV Nederlandsch Indische<br>\nSpaar En Deposito Bank, said outstanding loans from January to<br>\nSeptember grew by 18 percent to Rp 9.45 trillion, from Rp 7.84<br>\ntrillion in the corresponding period last year.<\/p>\n<p>Some 30.1 percent of the loans were allocated to the<br>\nmanufacturing sector, 29.4 percent to the consumer sector, 18.5<br>\npercent to trading sector, 16.7 percent to the services sector<br>\nand 5.3 percent to other sectors.<\/p>\n<p>NISP also announced it had received partially guaranteed loans<br>\nworth Rp 210 billion from the International Finance Corporation<br>\n(IFC), the investment arm of the World Bank.<\/p>\n<p>The funds will be allocated to support the bank's lending<br>\nexpansion to the consumer sector.<\/p>\n<p>The Bandung-based bank, which had total assets valued at Rp<br>\n16.6 trillion as of September, is 15.05 percent owned by the IFC,<br>\n22.50 percent by Singapore-based OCBC Bank, 11.63 percent by PT<br>\nSuryasono Sentosa, 11.63 percent by PT Udayawira Utama and 39.19<br>\npercent by the public.<\/p>\n<p>NISP shares ended higher by Rp 25 at Rp 625 on the Jakarta<br>\nStock Exchange on Thursday.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/nisp-net-profit-surges-70-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}