Bank NISP triples profit

JAKARTA (JP): Bank NISP more than tripled its net profit to Rp 60.3 billion (US$5.24 million) and net earnings per share to Rp 55 last year, increasing its total assets to Rp 5.26 trillion, the publicly listed bank said in a statement.

The bank stated in its audited financial report for the year 2000 that it also more than doubled its total lending to Rp 3.02 trillion but sharply decreased its non-performing loans from 14.1 percent at the end of 1999 to 6.11 percent last December.

It booked a 45 percent increase in third-party deposits to Rp 3.97 trillion and increased its loan-to-deposit ratio from 34.14 percent to 59.26 percent.

The bank became the only bank in Indonesia to boast the World Bank Group among its shareholders after the International Finance Corporation acquired 9.6 percent of the bank early this year through a rights issue.

The additional capital raised through the rights issue bolstered Bank NISP's capital adequacy ratio (equity against risk-weighted assets) to 12.56 percent as of March, much higher then the minimum 8 percent required later this year, compared to 9.94 percent last December.