BNI Q1 net profit soars slightly

BNI Q1 net profit soars slightly

JAKARTA: PT. Bank Negara Indonesia's (BNI) net profit for the first three months of this year rose slightly to Rp 850 billion (US$96.5 million) from Rp 842 billion in the same period last year, Chief Executive Saifuddien Hasan said on Tuesday.

The bank's loan-to-deposit ratio stood at 40 percent in the first quarter, Saifuddien said.

BNI, the second largest state-owned bank in terms of assets, channeled Rp 3.4 trillion worth of loans in the three months, and targets extending loans worth Rp 9 trillion in the full year, he said.

Saifuddien didn't provide other details, such as the bank's interest income, for the period.

BNI is expected to report first-quarter earnings late this month or early May.

It plans to issue Rp 1 trillion in seven-year senior debt in June to strengthen its working capital, Saifuddien said.

The bank has named Deutsche Securities, PT Trimegah Securities and PT BNI Securities as underwriters for the debt issue, he added. -- Dow Jones