Panin Bank reports 60% rice in net profit<\/p>\n
JAKARTA (JP): Publicly listed Panin Bank posted a 60 percent
\nincrease in net profit to Rp 80.2 billion (US$33.69 million) in
\n1996 from Rp 50.04 billion in 1995.<\/p>\n
The bank's senior executive vice president, Roosniati Salihin,
\nsaid earnings per share rose to Rp 266 in 1996 from Rp 189 in
\n1995.<\/p>\n
\"We expect to book earnings per share of Rp 340 and net profit
\nof Rp 100 billion this year,\" she said after the bank's
\nextraordinary shareholders meeting.<\/p>\n
Revenue increased to Rp 776 billion in 1996 from Rp 600.58
\nbillion in 1995.<\/p>\n
About 70 percent of bank's revenue came from interest income
\nand the remaining 30 percent from fee-based income.<\/p>\n
\"Panin Bank arranged financing for infrastructure projects
\nlast year,\" Roosniati said.<\/p>\n
She said the bank expected total revenue of Rp 980 billion
\nthis year. \"We expect an increase of 25 percent from last year's
\nrevenue,\" she said.<\/p>\n
Panin Bank, which had total assets of Rp 5.4 trillion as of
\nlast December, had lent Rp 3.2 trillion.<\/p>\n
She said about 10 percent of the bank's loans went to small
\nretail borrowers and the remaining 90 percent to corporate
\nborrowers.<\/p>\n
\"In big cities like Jakarta, our main market is corporate
\nborrowers,\" she said.<\/p>\n
Roosniati said Panin bank, which has 20 main branches and 80
\nsub branches, had total equity of Rp 581 billion consisting of Rp
\n300 billion paid-up capital and the rest was retained earnings in
\n1996.<\/p>\n
Panin Bank is 21.38 percent owned by Panin Life, 13.69 percent
\nby Panin Insurance, 6.97 percent by Norbax Inc and 57.96 percent
\nby the public.<\/p>\n
The bank was established in 1971 through the merger of Bank
\nIndustri dan Dagang Indonesia, Bank Kemakmuran and Bank Industri
\nDjaja Indonesia.<\/p>\n
Yesterday's meeting also approved the splitting in half of the
\nbank's stock, reducing each shares nominal value from Rp 1,000 to
\nRp 500.<\/p>\n
\"The stock split is necessary to make trade in the stock more
\nliquid in the market,\" Roosniati.<\/p>\n
The share split will double the number of shares from 300
\nmillion to 600 million. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/panin-bank-reports-60-rice-in-net-profit-1447893297",
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