Danamon profit drop, loss category loans double, etc
Bank Danamon is the first bank to publish full year 2006 audited financial performance (because the bank will issue bond Rp1.5 trillion in April) with profit dropped a third while assets in loss category more than doubled and high investment in marketable securities & government bonds.
Looking at the bank's balance sheet, asset grew from Rp66.76 trillion to Rp79.59 trillion of which around Rp40.8 trillion as loans to third parties and Rp23.91 trillion as marketable securities/government bonds or grew 15% and 43% respectively.
While the bank's net NPL is well below 5%, loans on loss category have jumped from Rp367 billion to Rp871 billion (137%), resulting in significant cut of net profit (as allowance for possible losses in assets in 2006 was Rp976 billion).
On the other hand, operating expenses increased significantly by around 20% mainly due to increases in salaries/employee benefits and administrative costs. As a result, Danamon booked net profit of Rp1.32 trillion, dropped 33.8% from 2005.
Temasek is the largest shareholder of Danamon.
READ MORE!!!
Looking at the bank's balance sheet, asset grew from Rp66.76 trillion to Rp79.59 trillion of which around Rp40.8 trillion as loans to third parties and Rp23.91 trillion as marketable securities/government bonds or grew 15% and 43% respectively.
While the bank's net NPL is well below 5%, loans on loss category have jumped from Rp367 billion to Rp871 billion (137%), resulting in significant cut of net profit (as allowance for possible losses in assets in 2006 was Rp976 billion).
On the other hand, operating expenses increased significantly by around 20% mainly due to increases in salaries/employee benefits and administrative costs. As a result, Danamon booked net profit of Rp1.32 trillion, dropped 33.8% from 2005.
Temasek is the largest shareholder of Danamon.
Labels: Temasek
READ MORE!!!
posted by yosef at 7:23 AM
0 Comments:
Post a Comment
<< Home