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Though a decrease in income, NISP still recorded 3.36% profit growth

29 April 2020 10:41

JAKARTA - Bank OCBC NISP recorded a net profit of Rp 790.97 billion in the first quarter (Q1) of 2020, 3.36% higher than its record in Q1 2019 of Rp 765.23 billion. The aforementioned achievement was done despite a 1.44% decrease in the company's income, from Rp 3.20 trillion (Q1/2019) to Rp 3.15 trillion (Q1/2020).

Financially, the company managed to suppress interest expense by 10.79% from Rp 1.72 trillion (Q1/2019) to Rp 1.53 trillion (Q1/2020) as well as recorded a 57.76% growth from other operating income, from Rp 455,51 billion (Q1/2019) to Rp 718.61 billion (Q1/2020), supported by the 153.24% growth in foreign exchange gain, to Rp 295.85 billion (Q1/2020) and a 156.54% growth in sales of financial instruments, to Rp 239.56 billion (Q1/2020).

President Director of OCBC NISP Parwati Surjaudaja said the COVID-19 pandemic had affected various sectors, including the financial sector. However, Bank OCBC NISP managed to maintain its intermediation function with TPF growth of 5.2% to Rp 137.4 trillion in Q1 2020 from Rp 130.5 trillion recorded in Q1 2019. In addition, the bank's credit distribution reached Rp 123.9 trillion in Q1 2020 or 5.4% higher from Rp 117.5 trillion recorded in Q1 2019. The intermediation functions were done with a basic principle of carefulness, as shown by the NPL ratio of 0.9% nett or 1.8% gross. (ARM/AR)

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