Tuesday, August 15, 2006

DBS ops profit drops 24%

PT Bank DBS Indonesia, a wholly-owned subsidiary of Singapore's DBS, posted operating profit of Rp56.2bn in the first half 2006, dropped 24% from Rp74bn in the same period last year on increasing operational expenses.

DBS Indonesia which has total asset of Rp11.08 trillion (up 23% from H1 2005), recorded impressive growth of net interest margin of 32% in first half, but the bank's operational expenses increased 53% mainly due to almost 100% increase in personel costs.
Higher non-operational income helped DBS to book net profit of Rp62bn, slightly improved from Rp60bn in H1 2005.
Bank DBS Indonesia is owned by The Development Bank of Singapore Ltd (99%), Edwin Soeryadjaya (0.68%), and Sandiaga Salahuddin Uno (0.32%).



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