BDNI eyes Rp 350b profit this year
BDNI eyes Rp 350b profit this year
JAKARTA (JP): Bank Dagang Nasional Indonesia (BDNI) of the
widely diversified Gajah Tunggal group expects an 80 percent net
profit increase this year to Rp 350 billion (US$145.83 million),
from Rp 190.4 billion in 1996.
The bank's president, Sjamsul Nursalim, said he thought BDNI
would meet its profit target given the encouraging trend in its
first quarter profit growth.
The bank is listed on Jakarta's and Surabaya's stock
exchanges. It booked a Rp 69.1 billion net profit in the first
quarter this year, up 128 percent from Rp 39.2 billion in the
same period last year.
"Based on our first quarter performance we are sure we can
meet the target," Nursalim said after the bank's annual
shareholders meeting.
He said interest income was expected to contribute about 70
percent of its total net profit in 1997, and fee-based income
about 30 percent.
"I think the composition will be similar to 1996's," he said.
Yesterday's meeting approved the bank's proposal to distribute
Rp 140.1 billion in dividends, or Rp 40 a share, he said.
Nursalim said the remaining Rp 75.47 billion would be kept to
support the bank's operation.
He said BDNI's total assets rose 33 percent to Rp 16.65
trillion as of last December, from Rp 12.43 trillion in December
1995.
Outstanding loans increased 28 percent to Rp 12.69 trillion as
of December, 1996, from Rp 9.91 trillion in December 1995.
Nursalim said that about Rp 6 trillion of the loans were to
the trade sector, Rp 1.77 trillion to the agricultural sector, Rp
2.12 trillion to manufacturing, Rp 1.78 trillion to services, Rp
577 billion to construction and Rp 342 billion to other
activities.
He said BDNI's deposits reached Rp 11.51 trillion in 1996, up
46 percent from Rp 7.87 trillion in 1995.
BDNI was also considering buying another private bank here to
improve its business performance, he said.
He did not say which bank, but indicated it might be Bank Dewa
Rutji. BDNI currently owns about 40 percent of Bank Dewa Rutji.
"It is a matter of waiting for the right time," he said.
He said BDNI had set up Bank Indovina in Vietnam in 1993 as
part of its expansion plan.
He said Indovina Bank was 50 percent owned by BDNI and 50
percent by the Industrial and Commercial Bank of Vietnam. (09)