NISP reports higher earnings

JAKARTA (JP): Publicly listed Bank NISP reported healthy growth in the first three months of the year ending on March 31, on the back of a recovery in the country's overall business climate.

The bank announced over the weekend its net profit rose 33 percent to Rp 7.94 billion in the first three months of the year, from Rp 5.90 billion over the previous three months. The net profit in the first quarter of this year was triple the net profit in the fourth quarter of last year, it said.

Other indicators such as net interest income rose 15 percent to Rp 30.71 billion from Rp 26.58 billion, while total loans more than doubled to Rp 1.87 trillion in the first quarter from Rp 873.98 trillion in the fourth quarter last year, or an increase of 40 percent over the level as of last December.

The bank said its total assets rose 43 percent to Rp 4.43 trillion as of March, compared to Rp 3.10 trillion in the same month last year. But the bank's capital adequacy ratio (CAR) dropped to 12.50 percent from 20.98 percent in the same period last year, the result of higher lending levels.

The bank's third party funds rose 46 percent to Rp 3.05 trillion as of March, from Rp 2.08 trillion in the same month of last year (hen)