Bank NISP profit up 27%

JAKARTA (JP): The publicly-listed Bank NISP announced yesterday that its net profits rose 27 percent to Rp 17 billion last year from Rp 13 billion the previous year.

The bank said in a statement that the total funds generated from the public increased by 28 percent to Rp 500 billion as of the end of last year, while its loans grew by 28 percent to Rp 709 billion.

The bank's total assets rose 33 percent to Rp 875 billion as of last December.

"The relatively high growth was well supported by good management as shown by the high capital adequacy ratio, which reached 13.7 percent, much higher than the industry's average rate of 8 percent, the minimum level required by Bank Indonesia," the statement said.

Bank NISP said that in 1995 it was awarded an ISO 9002 rating, making it one of two banks in the Asia-Pacific region to gain such status.

It also got an L/C-2 rating from Thomson BankWatch Asia for its medium-term notes. The bank raised a total fund of $35 million last year from the issuance of floating rate notes and medium term notes.

The bank's loan-to-deposit ratio last year was at 87.5 percent, while its rate of return on assets reached 2.68 and the rate of return on equity was 20.2 percent. (alo)