Bank NISP net profit up 29%

JAKARTA: Bank NISP announced on Thursday that its 2002 net profit increased by 29 percent to Rp 92.36 billion (US$10.39 million) over the same period in 2001.

The medium-sized bank said net interest income increased to Rp 265.78 billion from Rp 200.27 billion, while non-interest income rose to Rp 89.45 billion from Rp 68.26 billion.

NISP said that total operating expenses jumped to Rp 222.22 billion from Rp 174.55 billion the previous year.

Third party funds increased 46 percent to Rp 8.58 trillion from Rp 5.89 trillion, while total loans rose 45 percent to Rp 6.19 trillion from Rp 4.28 trillion.

The level of non-performing loans dropped to 1.67 percent from 4.09 percent.

As of the end of last year, the bank's capital adequacy ratio (CAR) stood at 12.57 percent, well above the Bank Indonesia minimum 8 percent requirement. -- JP