BNI loses Rp 2.85 trillion

JAKARTA (JP): Publicly listed Bank Negara Indonesia (BNI) reported on Monday unaudited first half net losses of Rp 2.85 trillion (US$371.92 million), compared to a net profit of Rp 70.68 billion in the same period last year.

The bank, majority owned by the state, was plagued by a massive negative net interest income, which soared to Rp 4.84 trillion from Rp 91.83 billion during the period.

The bank paid total interest expenses of Rp 9.06 trillion, while interest income was only Rp 4.22 trillion.

Losses per share were Rp 656 per share in the January to June 1999 period, compared to an earning per share of Rp 16 per share in the same period last year. (rei)