BII rebounds with $51.7M net profit

BII reported a net profit of US$51.7 million for the full year of 2010.

This is a significant turnaround from the net loss of US$4.6 mbillion in the previous corresponding period year ended 31 December 2009. The main drivers of this strong achievement were greater growth across the core businesses and continuous improvements in all business operations.

PT Bank Internasional Indonesia’s loan portfolio as of 31 December 2010 increased 35 per cent from year end 2009, outpacing industry growth of 20 per cent. The significant growth in total loans has brought the Bank’s total assets to US$8.4 billion, up by 23 per cent compared to 31 December 2009.

Ridha Wirakusumah, BII President Director and CEO, said “The steady track of growth we achieved in 2010 signifies our hard work in fixing basic fundamentals and setting the right foundation for the Bank which we started in the second semester of 2009. I am pleased to say that the Bank has revitalized its growth momentum, though there is still much to accomplish in our quest for greater growth and higher market share.”