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Bank Panin profit soars 59% to Rp 3.2 trillion in 2018

20 February 2019 02:58 PM  Company: PT. Bank Pan Indonesia Tbk[PNBN]
Rp. 1,200  +15 (1.27%)

JAKARTA. PT Bank Pan Indonesia Tbk (PNBN) recorded Rp 3.19 trillion in net profit in 2018, up 59% year on year.

PNBN President Director Herwidayatmo said the profit growth mainly came from the increase of net interest margin to Rp 8.97 trillion.

"The growth was in line with the increase of Net Interest Margin (NIM) by 4.84%," said Mr Herwidayatmo in a press release, Wednesday (20/2).

Other operational revenues also increased 56.69% to Rp 2.86 trillion from Rp 1.82 trillion in 2017.

Last year PNBN disbursed credit of Rp 151.6 trillion, up 8.06% year on year. Retail and commercial credits contributed 58%, with the corporate segment contributing the rest. Total consolidated assets as of December 31, 2018 were recorded at Rp 207.2 trillion.

In terms of financing, third-party funds amounted to Rp 137.7 trillion, down 5.5% year on year. The decline was replaced by the issuance of bonds and subordinate bonds and an increase in CASA by 37% from the 2017 December position of 35.1%.

To increase the composition of long-term funds and benefit from low interest rates in early 2018, PNBN has issued a number of bonds and subordinate bonds series' worth Rp 6.80 trillion.

With the issuance, outstanding bonds and subordinate bonds issued by PNBN has amounted to Rp 15.43 trillion. (AM/MS)

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PT. Bank Pan Indonesia Tbk [PNBN]   Rp. 1,200   +15 (1.27%)