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Publicly listed Bank Central Asia (BCA) saw its net profit
rise by nearly 18 percent to Rp 4.24 trillion (US$460 million) last
year on the back of strong growth in both lending and fee-based income.
The bank's net interest income (NII) increased by close to 24 percent
to Rp 9.48 trillion on lending that grew by more than 13 percent to Rp
61.42 trillion, BCA said in a statement on its 2006 full-year results,
which were released Wednesday.
Its fee-based income, meanwhile, was up by almost 10 percent to Rp 1.6
trillion, enough to offset losses from the foreign exchange (forex) and
other income categories.
BCA's lending last year saw particularly healthy growth in commercial,
and small and medium enterprise (SME) loans, which were up 16 percent
to Rp 29.19 trillion, as well in corporate loans, which rose 19 percent
to Rp 23.92 trillion.
Consumer loans slipped 5 percent to Rp 8.47 trillion due to a drop in
the car loan segment.
The bank's gross non-performing loans (NPLs) declined to Rp 799
billion, giving a level of 1.3 percent of total lending.
BCA's savings and deposits, meanwhile, grew by nearly 18 percent to Rp
152.7 trillion.
The lender's total assets stood at Rp 176.7 trillion.
For 2007, BCA president D.E. Setijoso said he expected lending to grow
by some Rp 10 trillion on the back of a recovery in Indonesia's
consumer sector, the loosening by the central bank and government of
credit rules for SMEs, and the growing demand for mortgages from the
country's middle class.
"This will, however, depend very much on this year's economic growth,
and the resulting demand for new loans," he said. "If growth reaches
between 5.5 and 6 percent, then I think Rp 10 trillion more in lending
this year is achievable."
BCA shares, which are traded under BBCA on the Jakarta Stock Exchange,
closed 1 percent higher at Rp 5,050 Wednesday.
The dividend on last year's profit will be determined during BCA's
semiannual shareholders meeting later this year, Setiyoso said.
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