Jump 25%, BCA Bag Rp 2.9 Trillion Profit

PT Bank Central Asia Tbk (BCA) bagged the first quarter 2013 net profit of Rp 2.9 trillion. That figure is up 25.5% from the previous year’s net profit of only Rp 2.3 trillion.

Rising corporate profits driven by operating income consists of net interest income and other operating income also rose 23% to Rp 7.7 trillion in the first quarter of 2013 compared to the same period of the previous year which only Rp 6.2 trillion.

BCA President Director John Setiaatmadja said, the increasing contribution of the loan portfolio to total earning assets and the low level of interest expense (cost of funds) has prompted an increase in net interest margin (NIM) by 66 basis points year on year to 5.9%.

“BCA recorded a satisfactory business performance supported by solid growth in lending activity,” he said in the first quarter performance report, 2013, at the Hotel Kempinski, Jakarta, Monday (04/29/2013).

Jahja mention, total loans amounted to Rp 265 trillion at the end of March 2013, up 26.7% over the same period the previous year which only Rp 209.2 trillion.

SMEs loans grew 30.2% yoy to Rp 105.7 trillion in March 2013. Consumer credit which is supported by the performance of loans (mortgages) and the Motor Vehicle Credit (KKB) rose 34.4% yoy to Rp 71.7 trillion in March 2013.

Mortgages rose 43.1% yoy or Rp 13.2 trillion or Rp 13.2 trillion to Rp 43.7 trillion. KKB grew 21.4% yoy to Rp 21.7 trillion in March 2013, compared to the previous year’s position that only Rp 17.9 billion.

Meanwhile, corporate loans grew 17.2% yoy to Rp 87.6 trillion at the end of March 2013 supported by high demand in the transportation and logistics segment, power generation as well as distributors, retailers and department stores.

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