Panin books Rp877b profit

Panin books Rp877b profit

JAKARTA: Panin Bank more than doubled its net profit for this
year to Rp 877 billion (US$93 million), from Rp 427 billion the
previous year.

The profit came mainly from the bank's achievement in booking
total revenue of Rp 1.19 trillion in credit interest and Rp 527
billion in fee-based income, a press statement from the bank
said.

Panin Bank's lending over the year, meanwhile, increased by 29
percent to Rp 11 trillion, on the back of an improving consumer
credit portfolio to small and medium-sized enterprises (SMEs)
throughout the year.

The bank's assets also rose by 21.6 percent to Rp 22.96
trillion, while its third-party liabilities increased by 30
percent to Rp 15 trillion.

With the year's profit, management has decided to pay out a
total of Rp 321 billion in dividends to shareholders, or Rp 20
per share.-- JP