NISP profit rises 209%

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)