BII posts decline in 1st Qtr profit

JAKARTA: Publicly listed Bank Internasional Indonesia (BII) posted a 2.2 percent decline of unaudited net profit in the three months ending March 31 to Rp 221 billion (US$23.1 million) from Rp 225 billion booked last year on lower interest income.

Interest income in the period -- Rp 407 billion -- was lower than the Rp 419 billion recorded in 2004, the bank said in a statement. Income last year was boosted by the one-off sale of Rp 107 billion in government bonds, it added.

As of March 31, outstanding loans had grown by 31 percent to Rp 14.65 trillion. Consumer loans almost doubled on the back of automotive and housing loans.

BII is 56.88 percent owned by the Sorak Consortium -- comprising South Korea's largest bank Kookmin Bank and Singapore's Temasek -- 5.53 percent is held by the government and the rest by the public. -- JP