Indonesia's fourth largest bank by asset PT Bank Negara Indonesia Tbk (BNI) today reported a 22% in net income during the first 3 months of this year on lowered provision.
In a press statement obtained by Bisnis today, BNI posted Rp1.25 trillion net income in 1Q 2011 from Rp1.03 trillion. The bank's provision decreased 4.7% to Rp694 billion from Rp728 billion. BNI's operating income slightly increased 2.4% to Rp4.38 trillion from Rp4.27 trillion.
Net interest income was stagnant at the level of Rp2.89 trillion, while non-interest income increased 7.8% to Rp1.48 trillion from Rp1.38 trillion. BNI's credit chanelling grew 16.6% to Rp138.65 trillion from Rp118.86 trillion.
Disclosure: No position at the stock mentioned above.
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