ANZ Panin net profit rises 19%

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