Foreign banks, performance so far
HSBC reported significant net profit drop in the first nine months of 2006 and slightly reduced asset. Meanwhile, Stanchart recorded double digit net profit growth but significant asset drop in the same period.
HSBC posted net profit of Rp259 billion until Sept, dropped a third from its Rp368 billion booked in the same period last year. Why? The bank's interest income actually grew impressively resulting in almost 100% growth in net interest margin. But the bank's operation expenses increased sharply, mainly the asset write-off provision and labor costs. The bank's total asset reached Rp27.11 trillion (around US$3 billion) as of Sept, slightly reduced from Rp27.73 trillion in Sept 2005.
As for Stanchart, the bank's net interest margin grew slower than HSBC, but managed to cut operation expenses significantly. The result, Stancart booked net profit of Rp429 billion, even though the bank's total asset dropped quite significant to Rp22.38 trillion (US$2.5 billion).
READ MORE!!!
HSBC posted net profit of Rp259 billion until Sept, dropped a third from its Rp368 billion booked in the same period last year. Why? The bank's interest income actually grew impressively resulting in almost 100% growth in net interest margin. But the bank's operation expenses increased sharply, mainly the asset write-off provision and labor costs. The bank's total asset reached Rp27.11 trillion (around US$3 billion) as of Sept, slightly reduced from Rp27.73 trillion in Sept 2005.
As for Stanchart, the bank's net interest margin grew slower than HSBC, but managed to cut operation expenses significantly. The result, Stancart booked net profit of Rp429 billion, even though the bank's total asset dropped quite significant to Rp22.38 trillion (US$2.5 billion).
READ MORE!!!
posted by yosef at 9:10 AM
1 Comments:
Yosef, should include other foreign banks as well so we know how they are fared. Are they even better than local banks?
Post a Comment
<< Home