Feb 18, 2011

Bank Danamon FY10 net profit up 88%

PT Bank Danamon Tbk (BDMN) posted net profit after tax in the amount of Rp2.88 trillion last year or rose 88% than Rp1.53 trillion last year due to non-interest revenue beside mass market.
“In 2010, Indonesia economic condition was pretty conducive and beneficial for our credit unit,” said Bank Danamon President Henry Ho, yesterday.
The better profit, he continued, was amid to credit expansion which was up 31% than last year achievement and to reach Rp82.66 trillion.
Credit for small and medium scale enterprise (UMKM) increased 24% to Rp26.56 trillion compared to previous period. The credit value was representing 32% of company’s total credit.
Danamon corporate and commercial credit surged 21% to Rp16.272 trillion from the previous period of Rp13.394. The growth was fully supported by trade finance that rose 74% to Rp3.138 trillion.
Heavy equipment financing through asset-based finance was also recorded a good performance. It’s up 49% from Rp1.056 trillion to Rp1.58 trillion.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: