Friday, April 17, 2015

Commonwealth Bank Indonesia Profit Up slightly

Although outstanding loans grew 15.98%, net profit grew Commonwealth Bank Indonesia only 0.9% on last year. PT Bank Commonwealth Indonesia (Indonesian Commonwealth) during 2014 recorded a net profit after tax IDR207,85 billion, or grew only 0.9% over the same period the previous year.

As is known, in 2013 and a subsidiary of Commonwealth Bank of Australia (CBA) the Group recorded a net profit of IDR206 billion.

"In the midst of a transition period the new government, 2014 was a challenging year for almost all companies engaged in financial services in Indonesia. We are grateful that the Commonwealth Bank Indonesia continues able to maintain a positive performance from year to year, "said President Director of Commonwealth Bank Indonesia Tony Costa in a press release in Jakarta, Friday, April 17, 2015.

Profit was driven by an increase in total revenue of 3.55% or Rp50,92 billion. Net Interest Income Commonwealth Indonesia in 2014, reaching 9.52% to IDR1.03 trillion, driven by the strengthening of credit growth.

By the end of 2014, the Company's total outstanding loans reached IDR15,57 trillion, up 15.98% compared to IDR 13.5 trillion in the same period the previous year, with the NPL ratio - at the level of 0.80% gross.

According to Tony, as the Commonwealth Bank Indonesia's commitment in supporting the national economy, the Bank continues to spur productive sector development. The result, at the end of 2014, SME lending grew 20.8% to reach 2.8 trillion and commercial and consumer loans grew 25.5% to IDR 12.8 trillion. With credit growth in the assets of the Commonwealth Bank Indonesia to IDR 22.2 trillion.

"Our achievement in 2014 is a result of the implementation of the four pillars of our strategy which combines good risk management, liquidity management of healthy, strong teamwork within the organization into a synergy and improved quality of care," added Tony.

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