Bank NISP pays dividend

JAKARTA (JP): Bank NISP, a private bank listed on the Jakarta Stock Exchange, plans to distribute 23 percent of last year's net profit of Rp 13.52 billion (US$6.14 million) as cash dividends.

The bank announced yesterday that the dividend payout ratio is higher than the 20 percent pledged during its initial public offering last October.

It said that the company's pretax profit rose by 183 percent, to Rp 16.11 billion, last year and its total assets increased by 41.47 percent, to Rp 655.34 billion.

Its return on asset ratio in 1994 was 2.98 percent, slightly above the average of the country's banking industry, while the return on equity ratio was 28 percent, with the capital adequacy ratio reaching 15.20 percent. (hen)