Indonesia's largest private bank posts 9 pct profit growth in Q1

Indonesia's largest private bank, Bank Central Asia (BCA), posted 4.5 trillion rupiah (about 340.9 million U.S. dollars) of profit in the first quarter this year, up 9 percent year on year, a senior executive said here Wednesday.

Jahja Setiaatmadja, BCA president director said that the profit growth was contributed by operation revenue growth that rose to 12.8 trillion rupiah, or 17 percent higher than that of the same period last year.

"Our corporate loans increased significantly on quarterly basis. Many firms have shifted their loan needs from foreign currencies to Indonesia's rupiah. It prompted our loan demands significantly," Jahja said here.

BCA saw 11.4 percent loan channeling growth from January to March this year to 373.7 trillion rupiah. Its corporate and small-middle business loans grew 18.5 percent and 5.9 percent to 129.4 trillion rupiah and 142.3 trillion rupiah.

It saw non-performed loan ratio at 1.1 percent by the end of the first quarter, far lower than the maximum ratio of 5 percent.

The bank has set as 10 percent loan growth target at the most this year.

The nation's largest private bank also saw its consumer loan grew significantly at 10.9 percent in the first quarter to 102.1 trillion rupiah, seen in all of its consumer loan products.

In its consumer loan product lines, home loan grew 9.4 percent to 59.9 trillion rupiah, while car loan grew higher by 13.8 percent to 32.7 trillion rupiah.

BCA recorded 584.44 trillion rupiah of asset as of the third quarter last year, making it the third largest bank in term of assets in the country after the state-run banks Mandiri Bank and BRI. Enditem