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