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Bank Central Asia's Q1 net profit rises 11.1% YOY

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Bank Central Asia's Q1 net profit rises 11.1% YOY

postedan 11.1% year-over-year increase in net profit for the quarter ended March 31.

Thebank's consolidated net profit for the first quarter rose to 4.508 trillionrupiah, or 183 rupiah per share, from 4.057 trillion rupiah, or 165 rupiah pershare, in the prior-year period.

Netinterest income increased to 9.768 trillion rupiah from 8.500 trillion rupiahin the prior-year period, while noninterest income climbed to 3.060 trillionrupiah from 2.463 trillion rupiah.

Asof the end of the period, the bank's net interest margin clocked in at 7.04%,up from 6.72% at the end of 2015 and from 6.53% at the end of the first quarterof 2015.

Thenet nonperforming loan ratio stood at 0.3%, up from 0.2% at the end of thefourth quarter and first quarter of 2015. The gross NPL ratio rose to 1.1% asof March 31 from 0.7% recorded for both the fourth and first quarters of 2015.

Theratio of provision for NPLs dropped to 235.0% at the end of March from 322.2%at the end of December 2015 and from 297.6% at the end of March 2015.

Includingoperational risk in the calculation, the bank's common adequacy ratio stood at20.0% at the end of March, compared to 18.7% at the end of December 2015 and 19.4%at the end of March 2015.

Excludingoperational risk, the common adequacy ratio of the bank was at 23.6% at the endof the first quarter, up from 21.5% at the end of December 2015 and from 22.9%at the end of March 2015.

As of April 26, US$1 was equivalentto 13,205.00 Indonesian rupiah.