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)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks