Bank Rakyat Indonesia forecasts 2010 profit up 15%

Yet BRI’s $922mn estimated profit might fall second to Bank Mandiri’s $942.35mn.

Indonesia's second largest lender in assets PT Bank Rakyat Indonesia said its net profit last year was estimated at Rp8.3 trillion (US$922 million), or a 15 per cent rise from the previous year.

The estimated profit met the target set by the bank, said Sofyan Basir, the president of the state lender, as stated in a report in Trading Markets.

Basyr said the banks is set to chalk up a 15 per cent increase in net profit this year with credits set to grow by 20 per cent.

For the first time in five years, BRI might fall to second in profit in 2010 as Bank Mandiri, the country's largest bank was estimated to post Rp8.5 trillion ($942.35 million ) in profit last year.