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Bank Rakyat Indonesia H1 profit up 8.6% YOY

PT Bank Rakyat Indonesia (Persero) Tbk reported a 8.6% year-over-year increase in profit for the first half ended June 30.

The bank said Aug. 14 that consolidated profit attributable to owners grew to 16.165 trillion Indonesian rupiah from 14.890 trillion rupiah in the year-ago period. EPS inched up to 132.21 rupiah from 121.81 rupiah.

Net interest income for the six-month period rose to 39.925 trillion rupiah from 38.250 trillion rupiah, while income from operations grew to 19.906 trillion rupiah from 18.480 trillion rupiah.

The bank booked a nonoperating loss of 45.20 billion rupiah, compared to a nonoperating profit of 9.12 billion rupiah a year earlier.

The lender's net interest margin for the first half stood at 7.02%, down from 7.64% in the same period last year.

Its gross nonperforming loan ratio as of June 30 remained steady at 2.33% from the prior-year period, while its net NPL ratio inched up to 1.11% from 1.10% at the end of June 2018.

As of the end of June, the bank's consolidated capital adequacy ratio clocked in at 21.04%, up from 20.30% in the prior-year period.

As of Aug. 13, US$1 was equivalent to 14,214 Indonesian rupiah.