Danamon net profit up to Rp 725.2b

Danamon net profit up to Rp 725.2b

JAKARTA: PT Bank Danamon Indonesia said Tuesday consolidated
net profit rose to Rp 725.26 billion in the first nine months of
the year from Rp 576.82 billion a year earlier.

The bank, which is 99.35 percent owned by the government, said
net profit was boosted by miscellaneous operating income, which
rose to Rp 456.12 billion from Rp 250.69 billion a year earlier.
This income includes fee-based income, commissions and foreign
exchange gains.

Net interest income slid to Rp 5.18 trillion from Rp 5.48
trillion a year earlier as interest income dropped to Rp 3.74
trillion from Rp 3.91 trillion.

The bank didn't provide further details on its performance.

The government had planned to sell a 71 percent stake in Bank
Danamon in November. It hopes to find a foreign strategic
investor which will take management control of the bank.

But it had to delay the plan to early next year as the recent
bomb blast in Bali, which killed more than 180 mainly Western
tourists, has damped the investment climate. -- Dow Jones