Aug 20, 2010

Bank Danamon 1H net profit jumps 65%

Publicly listed PT Bank Danamon Indonesia today reports a 65% jump in the first half's net profit to Rp1.43 trillion from Rp870 billion a year earlier.
Bank Danamon President Director Henry Ho said the bottom line increase is mainly underpinned by a rise in operational revenue of credit growth, especiallu in the mass credit segment and operating margin. 
"In line with a positive progress in the country's economy, we enable to fasten credit growth," he said in a press conference.
Danamon posted a rise in net interest income to Rp4.84 trillion in the first half of this year from Rp4.42 trillion a year earlier.
As a result, Bank Danamon enables to maintain its net interest margin at the level of 11.6% compared to 10% a year earlier. Danamon is majority owned by Temasek Group.
Disclosure: No position at the stock mentioned above.

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