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Oct 28 (Reuters) - PT Bank Central Asia, Indonesia’s largest bank by market value, reported on Monday a 13% rise in net profit for the nine months ended September, boosted by an increase in business loans.
The lender said net profits rose to 20.9 trillion rupiah from 18.5 trillion rupiah in the same period of the previous year.
“BCA recorded increasing loan portfolio in various segments,” said BCA president director Jahja Setiaatmadja. The bank noted total loans had increased 10.9 % year-on-year to 585 trillion rupiah, with its non-performing loan ratio at 1.6% for September 2019.
Analysts on average expect annual net income of slightly under 33 trillion rupiah for the lender, according to Refinitiv I/B/E/S.
Setiaatmadja told reporters that that large corporations were positive about Indonesian president Joko Widodo’s cabinet choices for his second term and were hopeful it would lead to “a conducive atmosphere”.
“Investors want to gain confidence,” he said, noting the government was expected to synchronize labor regulations shortly.
He declined to give details on the ongoing acquisition process of local lender Bank Royal. (Reporting By Jessica Damiana; Editing by Jan Harvey & Simon Cameron-Moore)