Rabobank profit drop 40.7%

PT Bank Rabobank International Indonesia, a subsidiary of Cooperatieve Centrale Raiffeisen Boerenleenbank BA, reported net profit of Rp43.9 billion in the first half 2006, dropped 40.7% from the same period last year on lower interest margin and higher operation costs.

Rabobank, which just acquired two banks from Djarum Group (Haga and Hagakita), has total asset of Rp3.19 trillion as of June 2006, slightly reduced from Rp3.3 trillion in June 2005. The bank, like others, also reported higher amount of loss category loans.

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