Monday, August 28, 2006

Citibank profit up 7%, bad loans doubled

Citibank Indonesia reported net profit of Rp532 billion in the first half 2006, but the gross non-performing loans (NPL) doubled to 6.16% as of June 2006.

Citibank, the largest foreign bank in Indonesia, had total asset of Rp32.6 trillion (US$3.6 billion) as of June 30, 2006, increased significantly by 19.8% from June 2005. Meanwhile the Rp532 billion profit reflects a growth of 7% from first half 2005 at Rp497.5 billion.



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