JAKARTA: Private lender Panin Bank (PNBN) posted a 12.8 percent drop in its bank-only net profit in the first quarter, as revealed by its latest financial statement.
According to a statement published on Wednesday, Panin reportedly booked Rp 501.3 billion (US$38.67 million) in its bank-only profit during the January to March period, down from the Rp 574.87 billion gained in the same period in 2014.
The publicly listed bank saw its operational expenses surge 19.1 percent year-on-year (yoy) to Rp 1.13 trillion and, at the same time, it suffered from 8.1 percent yoy decline to Rp 388.93 billion in operating income.
Panin was able to channel higher loans compared to a year ago and jack up its net interest margin (NIM). Its outstanding loans amounted to Rp 109.68 trillion, a 6.8 percent increase from the previous year, while its NIM stood at 4 percent, up slightly from 3.8 percent.
Most of the lending figure was disbursed toward the commercial segment, followed by corporate and consumer segments.
Meanwhile, in third-party funds (DPK) or customer deposits, the figure rose slightly by 3.2 percent to Rp 118.87 trillion. Time deposits were recorded as the largest component of the DPK, accounting for more than 60 percent.
