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Bank OCBC NISP recorded 19.9% net profit growth

08 March 2022 11:24

JAKARTA. PT Bank OCBC NISP Tbk (NISP) gained a net profit of IDR 2.5 trillion, soaring 19.9% year-on-year (yoy) following the increase of net interest income of the company in 2021.

Based on the annual financial report released on Indonesia Stock Exchange yesterday (7/3), the net interest income clocked up to IDR 7.64 trillion, shifting 7.5% yoy from IDR 7.11 trillion in 2020.

Parwati Surjaudaja, President Director of Bank OCBC NISP, revealed that the company also recorded a decrease in fund expenses of 26.9% yoy. It resulted from the low reference interest rate and increased cheap funds. These factors were then combined to boost the company’s net interest income.

More specifically, Surjaudaja mentioned that the net interest income also originated from the operating revenue of IDR 9.7 trillion, 3.6% higher than in 2020. However, the operating expenses also increased 2.1% to IDR 4.2 trillion. Furthermore, the company secured other operating revenue of IDR 2.1 trillion, which was depleted 8.5% yoy.

NISP then reported total assets of IDR 214.4 trillion in 2021, moving up 3.9% yoy. This gain puts Bank OCBC NISP in the top 10 banks based on total assets, securing a market share of 2.2%. (AM/ZH)

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