Indonesia's Bank Mega doubles net profit to $96.35M

Bank Mega doubled its net profit to US$96.35 million or Rp 909 billion in the first half of 2012 from Rp 431 billion last year.

The bank ascribed the profit increase to its stronger net interest income, which rose by 49 percent to Rp 1.7 trillion during the first half from Rp 1.1 trillion, year-on-year.

Non-interest income, classified in Bank Mega’s financial report as other operating income, also rose slightly to Rp 503 billion from Rp 471 billion last year.

The bank, however, reported a decline in both its assets and liabilities compared to the beginning of this year. As of June 30, the bank’s total assets totaled Rp 57.9 trillion, lower than Rp 61.9 trillion as of Dec. 31 2011. Bank Mega’s liabilities reached Rp 52.1 trillion, a slight drop from Rp 57 trillion at the end of last year.

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