Bank Bali's profits to soar

JAKARTA (JP): Bank Bali's net profit is expected to increase by about 40 percent to Rp 130 billion (US$55 million) this year, up from Rp 91.60 billion in 1995, the bank's president Rudy Ramli said yesterday.

Rudi said he was optimistic the net earnings projection could be achieved given the bank's encouraging financial performance in the first six months of this year.

"The net profits for the January to June period reached a total of Rp 64 billion," he told Antara after the opening of the bank's main branch in the East Kalimantan capital of Samarinda.

The new branch lifts the number of Bank Bali main branches to 30, excluding its 167 supporting branches.

Rudi said Bank Bali's total assets were about Rp 7 trillion as of September, with total lending of about Rp 4.5 trillion. (hen)