Panin Bank posts profit

JAKARTA (JP): Publicly listed Bank Panin announced yesterday that its net profit was Rp 83 billion (US$25.5 million) in the first three quarters this year, or 3.7 percent higher than the total net profit of Rp 80 billion in 1996.

The bank's president, Rostian Sjamsudin, said revenue from operations rose to Rp 764 billion and interest income rose to Rp 695 billion by the end of September.

Rostian said the bank had increased its working capital to Rp 1 trillion through the issuance of rights shares in late 1996 worth Rp 580 billion.

"The increase in capital is expected to boost the bank's network system and banking information technology," he said.

Rostian said that total public funds totaled Rp 3.2 trillion with credit reaching Rp 3.7 trillion as of September. (aly)