By Nai Lun Tan

Bank Central Asia said its first-quarter net profit rose 8.6% as growth in operating income offset higher expenses and provisioning amid the Covid-19 pandemic.

Net profit at Indonesia's largest private lender rose to 6.581 trillion rupiah ($447.4 million) from IDR6.061 trillion a year earlier, the bank said late Wednesday.

Net interest income rose 14% to IDR13.682 trillion, while non-interest income rose 26% to IDR5.899 trillion.

The bank's gross non-performing loan ratio rose to 1.6% at end March, from 1.3% at end December, while provisioning more than doubled on year amid a slowdown in business activity caused by measures to curb the spread of the coronavius.

Bank Central Asia said it had a loan restructuring pipeline of 10%-14% of its total loans as of mid-May, and added that restructured loans could increase to an estimated 20%-30% of total loans in the next few months. 



  Write to Nai Lun Tan at nailun.tan@wsj.com