Bank NISP triples profit

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.