Bank Rakyat Posts Sharp Rise in First-Half Net Profit

By Yi Wei Wong

Bank Rakyat Indonesia's net profit jumped sharply in the first half of the year, driven by stronger loan growth.

The lender reported that the net profit attributable to its parent company rose 99% to 24.786 trillion rupiah ($1.65 billion), thanks to growth from its loan and third-party fund segments.

Net interest income rose to IDR64.614 trillion in the first half from IDR54.961 trillion in the previous year, the bank said.

The bank's loan and financing segments grew 8.7% during the period, driven by the growth in micro and ultra-micro loans. Bank Rakyat Indonesia said that third party funds rose 13.4% over the first half.

Write to Yi Wei Wong at [e-mail]

(END) Dow Jones Newswires

07-27-22 0241ET