NISP profit rises 209%

JAKARTA (JP): Publicly listed Bank NISP said on Friday its 2000 net profit rose by 209 percent to Rp 60.3 billion (about US$5.53 million) from Rp 19.5 billion in 1999, as its interest income grew to Rp 156.29 billion from Rp 113.59.

The bank said its total credit had increased to Rp 3.02 trillion last year from Rp 1.35 trillion a year earlier.

NISP also attracted more third party funding, which hit Rp 3.97 trillion last year, up from Rp 2.74 trillion the previous year.

Its non performing loans (NPLs) last year dropped to 6.11 percent from 14.11 percent in the previous year, the bank said.

Bank Indonesia requires banks reduce NPLs to 5 percent, and own a minimum Capital Adequacy Ratio (CAR) of 8 percent by the end of this year.

NISP's CAR last year rose to 9.84 percent, which the bank attributed to the capital injection stemming from the purchase of its shares by the International Finance Corporation (IFC). (bkm)