Mashill sees profit up

JAKARTA (JP): The publicly listed Bank Mashill expects its net profit to rise about 60 percent to Rp 40 billion (US$16.6 million) this calendar year.

Marketing director Leo Yasin Setiadi told reporters yesterday he was optimistic about reaching the target based on last year's strong performance.

The company increased its net profit by 43.69 percent to Rp 24.27 billion last year and its return on assets from 1.36 percent to 1.48 percent and return on equity from 11.76 percent to 14.94 percent.

The bank's earnings per share increased to Rp 223 from Rp 155 in 1995.

Setiadi said after a general shareholders meeting that the bank's net interest income rose by 24.03 percent to Rp 79.88 billion and its assets by 32,57 percent to Rp 1.64 trillion.

The meeting agreed on the management's proposal to distribute 34 percent of its net income, or Rp 45 per share, as a dividend, Setiadi added. (jsk)