Bank Universal's profit

Bank Universal's profit

JAKARTA (JP): Publicly listed Bank Universal said on Wednesday
its lendings as of September reached Rp 2.1 trillion (US$238
million), far exceeding its Rp 1.7 trillion credit target for the
year.

Bank Universal president Stephen Satyahadi said during a
public expose at the Jakarta Stock Exchange (JSX) building that
the bank also had completed the restructuring of Rp 1.2 trillion
in bad loans, thereby reducing its problem loans to 22 percent of
total lending, which is below the average level in the banking
industry.

The public expose was part of the new requirements imposed by
the JSX management on all listed companies, a step meant to
ensure compliance with good corporate governance practices.

He said the bank booked a profit of Rp 23 billion in the first
nine months of the year, much better than the Rp 20 billion
income target set for the entire year.

Satyahadi added that total third-party funds at the bank
increased by Rp 900 billion to Rp 9.9 trillion, or more than 92.5
percent of its total assets of Rp 10.7 trillion as of September.