Panin's profit jumps in 1st half

Panin's profit jumps in 1st half

JAKARTA: A significant boost in net interest income has lifted
Bank Panin's pre-tax profit by 52 percent in the first half of
this year from the same period last year to Rp 335 billion (about
US$38 million), the bank said on Wednesday.

A press statement said that Panin -- one of the few banks that
survived the late 1990s financial crisis without a government
bailout -- booked net interest income of Rp 651 billion, with its
net interest margin steady at 7.48 percent.

The healthy net interest income resulted in part from the
bank's aggressive lending, which has now reached Rp 10.1 trillion
as against the Rp 8.1 trillion booked in the first semester of
last year. The bank's capital adequacy ratio (CAR) also rose from
34.6 percent to 40.3 percent, way above Bank Indonesia's minimum
requirement of 8 percent. -- JP