JAKARTA: PT Bank Rakyat Indonesia Tbk scooped a net profit increase of 29.32% to IDR4.22 trillion on March 2012 compared to the same period last year of IDR3.26 trillion.
Bank Rakyat Indonesia (BRI) Finance Director Achmad Baiquni said the increase was supported by net interest income which rose 1.44%to IDR8,20 trillion from 8.08 trillion per March 31, 2012.
Moreover, the profit increase is also the impact on the company’s success to reduce operational cost on operational revenue (BOPO).
"During the first quarter of this year, BOPO fell to 60.35% from 69.12% on the first quarter last year," he said on April 27, 2012.
Meanwhile, channeling up 13.6% from IDR249.16 trillion during January - March 2011 period to IDR283.14 during Q1/2012.
The channeling was dominated by microfinance sector growth which contributed 32.4% of total credit equals to IDR91.78 trillion during Q1/2012 from IDR79.04 trillion during the same period last year.
The credit growth was maintained by non-performing loans ratio which improved to 2.73% per March 31, 2012 from 3.05% over the same period last year.
The company's funds under management increased by 16% from IDR290.58 trillion to IDR336.96 trillion. This achievement made the third party loan to deposit ratio reached 84.03%. (T07)