Jakarta – PT Bank Permata Tbk recorded a net profit after tax (consolidated – unaudited) of Rp 818 billion in the first half of 2013, an increase of 15% over the same period in 2012.
Total operating income reached Rp 3,205 trillion in the first half of 2013, 12% higher than the same period last year of Rp 2,859 trillion, driven by good growth in net interest income and fee-based revenue (fee-based).
The net interest income grew 12% yoy to Rp 2,568 trillion, with sustained strong credit growth. While the revenue-based fee (fee-based income) rose 11% yoy to Rp 638 billion.
Director of Permata Bank, David Fletcher said the company’s operating performance improved strongly in the first half of 2013 was made possible through corporate discipline in carrying out the strategy.
“Permata Bank ended the period with a strong record of financial performance and good momentum in both segments of retail and corporate banking business (Retail and Wholesale Banking),” he said in a press release on Tuesday (07/30/2013).
The second half, continued David will bring a new challenge in the form of increased interest rates and the dynamics of the economy.
“Nevertheless, we believe that the Bank is in a good position amid this uncertainty,” he said.
In the first half of 2013, loans grew by 27% yoy from Rp 84.4 trillion at the end of June 2012 to Rp 106.9 trillion at the end of June 2013. Credit growth in almost all business segments, including strong growth in SME business, mortgage and lending to corporate and middle segments of the local market. Total assets reached Rp 144.3 trillion, up 31% yoy from Rp 110.6 trillion as of June 30, 2012.
More diverse funding base and grow sustainably. Third-party funds, including the Sharia – increased 32% yoy to Rp 116.1 trillion, where current and savings accounts (CASA) each recorded an increase of 16% yoy and 6% yoy. Meanwhile deposits recorded strong growth at 41% yoy. Sharia financing recorded a significant increase in the amount of 95% yoy.
Excellent credit quality reflects the Bank’s compliance to always keep the principle of prudence. Non Performing Loan (NPL) Gross improved to 1.2% as of June 30, 2013 compared to 1.6% in the previous year. Similarly, the net NPL has also improved to 0.4% from 0.5% in the same period last year.
Permata Bank also maintains a healthy level of capital to risk weighted assets (RWA) and ended the period with a Capital Adequacy Ratio (CAR) of 15.6%, up 232 bps compared to the previous year in spite of the strong credit expansion. Shareholders’ equity grew 35% yoy to Rp 13.2 trillion at the end of June 2013, supported by a limited public offering / PUT (Right Issue) by the Bank in the year 2012.