Apr 18, 2012

Bank Danamon 1Q profit rises 18%

PT Bank Danamon Indonesia Tbk (BDMN), a subsidiary of Temasek Holdings, posted a Rp900 billion consolidated net profit in the first quarter of this year (1Q), a 18% increase from a year earlier of Rp763 billion.
Henry Ho, Danamon's President Director, as quoted by Bisnis Indonesia, said the earning growth is underpinned by lending growth in mass market, corporation, and small medium enterprises.
Vera Eve Lim, CFO, said the loan channeling reached Rp106 trillion, a 23% increase from Rp86 trillion a year earlier. 
Net interest margin was 9.7%, a slight decrease of 5% from the same period last year, while fee-based income increased 22% to Rp1.02 trillion from Rp844 billion.

Disclosure: No position at the stock mentioned above.

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