Bank Central Asia's First-Quarter Profit Rose on Record Loan Growth
By Amanda Lee
Bank Central Asia's first-quarter net profit rose on the back of a record growth in net loans and a drop in provisions.
Indonesia's largest private bank said late Monday that quarterly profit rose 12% on year to 12.879 trillion Indonesian rupiah ($793.3 million).
Net interest and shariah income rose 7.25% on year to IDR19.823 trillion, while net fee and commission income rose 8.15% on year to IDR4.326 trillion.
Impairment losses on assets in the quarter fell 30% on year to IDR1.025 trillion.
BCA said first-quarter net loans rose a record 17% on year, helped by a 22% rise in corporate loans and a 15% rise in consumer lending. Mortgages grew 11% from a year earlier, while vehicle loans expanded 22%.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
April 22, 2024 22:21 ET (02:21 GMT)
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