OCBC NISP Profit Rises 17% to Rp 1.3t in 2014

BY : GITA ROSSIANA

FEBRUARY 10, 2015

Jakarta. Bank OCBC NISP, a listed mid-size commercial lender, booked double-digit profit growth last year as it expanded lending and kept its non-performing loan ratio low amid an uncertain economic and political situation in Indonesia.

OCBC NISP's net income rose 17 percent to Rp 1.3 trillion ($102.75 million) in 2014 from Rp 1.1 trillion a year before, the lender said in a statement on Monday.
The lender's total outstanding loans grew 7 percent to Rp 68.4 trillion in 2014, from Rp 64 trillion a year prior. Non-performing loans only accounted for 0.8 percent of the bank's outstanding total — lower than the central bank's NPL benchmark is set at 5 percent. The lending expansion boosted OCBC NISP asset to Rp 103 trillion, or up 6 percent from Rp 97.5 trillion in 2013.
"Amid tight banking industry competition, higher interest rates, inflation due to higher fuel prices and a weakened rupiah exchange rate,  business growth in 2014 was slower. But we remain optimistic that the banking industry in Indonesia still has potential to be better this year," OCBC NISP president director Parwati Surjaudaja said.
GlobeAsia

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