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Bank Panin recorded Rp 3.32 trillion in profir in 2019

27 February 2020 15:20

JAKARTA - PT Bank Pan Indonesia or Panin Bank Tbk (PNBN) ended 2019 with a convincing performance after recording profit attributable to owners of the parent entity of Rp 3.32 trillion, up 6.56% from Rp 3.11 trillion recorded in 2018.

The company recorded an increase in interest revenue, 2.98%, from Rp 17.21 trillion in 2018 to Rp 17.72 trillion in 2019. However, interest expense rose higher, 6.16%, from Rp 8.25 trillion in 2018 to Rp 8.76 trillion in 2019. Operational-wise, the company's operational revenue fell 20.58% from Rp 2.41 trillion in 2018 to Rp 1.91 trillion in 2019 while operational expenses remains stable, went down slightly 0.80% from Rp 4.59 trillion in 2018 to Rp 4.55 trillion in 2019.

However, the company noted significant decreases in two posts, namely provision for impairment losses, which went down 17.95%, from Rp 1.39 trillion (2018) to Rp 1.10 trillion (2019) and interest expenses that fell 20.81%, from Rp 1.95 trillion (2018) to Rp 1.60 trillion (2019), enabling Panin Bank to record an increase in profit. (ARM/AC)

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