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Bank Central Asia posts 12.1% YOY increase in H1 net profit

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Bank Central Asia posts 12.1% YOY increase in H1 net profit

reported a 12.1% year-over-year increase in consolidated net profit for thefirst half ended June 30.

The banksaid net profit attributable to owners of the parent climbed to 9.576 trillionIndonesian rupiah, or 388 rupiah per share, from 8.541 trillion rupiah, or 346rupiah per share, in the prior-year period.

Netinterest income rose to 19.758 trillion rupiah from 17.184 trillion rupiah inthe year-ago period, while noninterest income climbed to 6.370 trillion rupiahfrom 5.442 trillion rupiah.

The bank'snet interest margin inched up to 7.0% from 6.6% in the prior-year period.

The grossnonperforming loan ratio increased to 1.4% from 0.7% in the year-ago period,while the net NPL ratio inched up to 0.4% from 0.2% over the same period.

The bankset aside a total provision of 2.006 trillion rupiah as of the end of June, anincrease from 574 billion rupiah as of June 2015. However, NPL coveragedeclined to 193.0% from 292.7% over the same period.

In itsearnings presentation, the bank said it expects NPLs to increase but remainwithin risk appetite limits.

The bank'scapital adequacy ratio also jumped to 20.3% at the end of the first half from19.0% in the year-ago period.

As of July 20, US$1 was equivalent to 13,117.50Indonesian rupiah.