BNI posts net profit of Rp7.72 trillion in Q3
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State lender Bank Negara Indonesia (BNI) posted a net profit of Rp7.72 trillion in the third quarter of 2016, up 28.7 percent from the same period last year.
The double-digit profit growth was fueled by net interest income after credits grew by 21.1 percent or Rp372.02 trillion year on year, BNI President Director Ahmad Baiquni said here on Thursday.
The net interest income grew 15 percent to Rp21.87 trillion in the July-September 2016 quarter, up from Rp19.02 trillion in the same quarter a year earlier, he noted.
Fee-based income, meanwhile, rose 20 percent from the same quarter last year, he added.
He informed that the BNI recorded a 6.2 percent net interest margin from the amount of credits channeled in the third quarter of 2016 .
The bank also saw its non-interest income rising 20 percent to Rp6.24 trillion in the third quarter of 2016, fueled by a rise in commission on trade financing, account management and insurance marketing cooperation.
The amount of credits extended in the third quarter of 2016 grew 21 percent as the bank focused on financing infrastructure projects run by state-owned companies, he pointed out.
Questions & Answers
Q.What was BNI's net profit in the third quarter of 2016?
What was BNI's net profit in the third quarter of 2016?
BNI reported a net profit of Rp7.72 trillion for the third quarter of 2016. This figure represents a 28.7 percent increase compared to the same period in the previous year.
Q.What were the main drivers behind BNI's profit growth in Q3 2016?
What were the main drivers behind BNI's profit growth in Q3 2016?
The double-digit profit growth was primarily fueled by a 15 percent rise in net interest income. Also, fee-based income and other non-interest income both increased by 20 percent year on year.
Q.How much did BNI's net interest income grow to in the July-September 2016 quarter?
How much did BNI's net interest income grow to in the July-September 2016 quarter?
In the July-September 2016 quarter, BNI's net interest income grew to Rp21.87 trillion. This was an increase from Rp19.02 trillion reported in the same quarter a year earlier.
Q.What type of projects did BNI focus on financing in the third quarter of 2016?
What type of projects did BNI focus on financing in the third quarter of 2016?
BNI focused on financing infrastructure projects run by state-owned companies during the third quarter of 2016. This contributed to a 21 percent growth in credits extended by the bank.
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