2017, Bank Ganesha's Net Profit Up 30%

INDUSTRY.co.id - Jakarta - PT Bank Ganesha Tbk recorded net profit of Rp. 51.1 billion by the end of 2017, up 30% year-on-year (yoy) from Rp. 39.2 billion in the same period of 2016. Net profit before tax reached Rp. 67.8 billion.

Surjawaty Tatang, President Director, said that the increase in net income is supported by strong and disciplined revenue capacity to reduce and streamline operating costs while continuing to invest in infrastructure development and banking capabilities.

"I am pleased to announce that 2017 is a remarkable year for Ganesha Bank, which is also aided by increased synergies with various strategic partners," he said in Jakarta on Wednesday (21/2/2018).

According to him, total operating income raised 38% yoy to Rp. 247.8 billion, driven by growth in both Net Interest Income and Cost-Based Income. Net Interest Income increased 32% yoy to Rp. 211.6 billion from Rp. 160.9 billion a year earlier supported by strong credit growth.

According to him, fee-based income also rose sharply by 91% yoy to Rp. 36.2 billion from Rp. 18.9 billion in the previous year was mainly driven by good performance in fee revenues, commissions and profits from the effects it had.

"Bank Ganesha closes in 2017 with a Capital Adequacy Ratio (CAR) of 30.1%, well above regulatory minimum requirements and still able to support business growth," he said.