Feb 27, 2011

BTPN FY10 net income surges 99%

PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) today announced a 99% jump in net income last year to Rp836.8 billion from Rp420.4 billion in the previous year.
In a press statement obtained by Insider Stories today, BTPN's assets rose 34.5% to Rp34.5 trillion from Rp22.3 trillion.
In line with asset growth, the bank's credit rose 38% to Rp25.5 trillion from Rp18.47 trillion. Capital adequacy ratio was 23.40% at end of last year.
In May 2010, BTPN raised Rp1.3 trillion from bond issuance, followed by Rp1.1 trillion secondly issuance in December.

Disclosure: No position at the stock mentioned above.

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