JAKARTA. PT Bank Permata Tbk's (BNLI) net profit soared 146.29% year on year (yoy) in the first semester of 2019.
The net profit hike was caused by declining losses recorded in the financial asset value drop post.
In late June last year, the company recorded a financial asset value loss of Rp 1.07 trillion. However, in late June this year the loss dropped 59.13% yoy to Rp 438.51 billion.
Based on the company's H1 financial statements, the shrinking loss was caused by a loan loss which was corrected 62.3% yoy.
Meanwhile, the company's net interest income stagnated with only a 2.56% yoy increase to Rp 2.7 trillion due to interest expenses which increased 11.4% yoy to Rp 2.77 trillion from Rp 3.08 trillion in late June 2019. (AM/MS)