BCA booked US$400 million profit in 2005

PT Bank Central Asia Tbk, the largest private-owned bank in Indonesia, booked net profit of around US$400 million last year, increased 12% from the year before thanks to the higher fee-based income of 21%.

Jahja Setiaatmadja, finance director of BCA said, the significant increase in lending activities (increased by 34%) also contributed to the higher revenue. But BCA's loan to deposit ratio at 41.8% (increased from 30.6%) is still below the national average. That has invites criticism over the bank which survived the financial crisis with massive injection of government's recapitalization bonds (around US$6 billion).

Farindo Investment, a joint venture between Farallon Capital and Djarum Group, controls 51% shares in BCA. Farindo acquired government's shares in 2001.

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