BDNI reports profit rising

JAKARTA (JP): The publicly listed Bank Dagang Nasional Indonesia (BDNI) booked an 8 percent increase in its net profit in the first half of this year to Rp 74 billion (US$31 million) over the same period of last year.

The bank said in a statement over the weekend that its interest revenue rose 25 percent to Rp 187 billion in the first half of this year, while its fee-based revenue -- which was derived from foreign exchange transactions, trade financing, retail fees and credit cards -- amounted to Rp 65.9 billion.

As a result, the bank's total operating revenue increased by 28 percent to Rp 252 billion in the first half of this year, the statement said.

It said the bank's first-half before-tax profit of Rp 105 billion is in line with its target.

The bank, an affiliate of the Gajah Tunggal Group, is projected to book Rp 240 billion in pretax profits for the whole of this year.

BDNI, which currently has total assets of Rp 15 trillion, said that as of June, its total loans amounted to Rp 11.5 trillion, an increase of 15 percent from the end of last year, of which non- performing loans accounted for Rp 25 billion.

Its total deposits reached Rp 10 trillion as of June 30, compared to Rp 7 trillion as of June 1995.

BDNI is planning to sell its majority stake to PT Gajah Surya Multi Finance under a restructuring plan of the Gajah Tunggal Group. (alo)