ANZ Panin net profit rises 19%

JAKARTA: ANZ Panin Bank recorded a 19 percent increase in net profit in the first nine months of the year. Net profit from January to September increased to Rp 131.73 billion (US$13.11 million) from Rp 110.43 billion in the corresponding period last year.

The bank said in a statement released on Thursday that the increase was due to increasing interest income and operational income.

Until the third quarter, ANZ Panin's interest income raised to Rp 407.95 billion from Rp 320.97 billion in the same period last year.

Operational income also surged from Rp 110.43 billion along the three quarters last year to Rp 131.73 billion until Sept. 30 this year.

"We are proud with our performance in the first nine months of the year, considering that banking industry is facing many challenges this year including the impact of recent fuel price hike and increasing BI rate," President Director Scott Armstrong said in the statement. -- JP