Danamon records Rp190b profit

Danamon records Rp190b profit

JAKARTA: PT Bank Danamon Indonesia recorded a net profit of Rp
190 billion (US$21.4 million) during the first quarter of this
year, up 12 percent from Rp 170 billion a year ago, Danamon Chief
Executive Arwin Rasyid told reporters Tuesday.

Speaking after the company's annual meeting, Rasyid said the
bank's net interest income during the period was flat at Rp 300
billion.

He said the bank's capital adequacy ratio as of March 31 was
37 percent, compared with 40 percent last year, but still above
the 8 percent required by the central bank, Bank Indonesia.

He didn't offer any explanations for the results. The official
earnings report is expected later this week.

Danamon is one of the banks the government rescued through a
massive public-fund injection following the 1997 economic crisis.
The government owns 99.36 percent of Danamon, and the investing
public holds the rest.--JP