Permata Bank posts stellar income

Bank Permata reported an increase in profit last year as loan demand by Indonesian consumers and corporations rose and the economy grew.

Net income at Bank Permata rose 16 percent to Rp 1.16 trillion or $128 million last year from Rp 996.7 billion in 2010, and net interest income climbed to Rp 4.12 trillion last year from Rp 3.11 trillion in 2010.

This was conveyed by the company in a press statement.

Low borrowing costs and accelerated economic activity in Southeast Asia helped many Indonesian lenders post hefty profit last year.

Total outstanding loans at Permata rose to Rp 69.3 trillion last year from Rp 52.8 trillion in 2010, lifting its total assets to Rp 101.3 trillion last year. That made it the eighth-biggest lender by assets in 2011, according to data from Bank Indonesia.

Standard Chartered Bank and Astra International each own 44.5 percent of Permata.

For the source of this story, click here.

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