Danamon quarter profit down to 30 Percent

I Danamon quarter profit down to 30 Percent


Thursday in Jakarta PT Bank Danamon Tbk announced only gain profit Rp393 billion in the I quarter 2009, down as much as 30 percent compared to I quarter 2008, which reached Rp563 billion with a negative carry occurs, continue the President Director of Bank Danamon, Sebastian Paredes in the conference.


In addition, the pressure in the I quarter 2009 are also shown in the credit problems that increased 0.6 percent to 2.9 percent compared to I quarter of 2008 only 2.3 percent.

Meanwhile, the capital adequacy ratio (CAR) in the I quarter 2009 is also down 3.9 percent to 16.9 percent compared to the same period a year ago to reach 20.8 percent.

He added, to fund growth in the first quarter 2009 reached 20 percent or about Rp74, 6 trillion a year.

Finance Director of Bank Danamon Vera Eve Lim said in the I quarter 2009 growth in credit of 13 percent of the annual (year of year) or grow Rp7, 4 trillion into Rp63 trillion.

"The growth of our credit business is driven by the mass market to grow 25 percent a year (year of the year) in total to reach Rp30, 7 trillion, and formed 49 percent of the total credit Danamon," he said.

He said, include loans that micro-credit funds through savings and loans (DSP), the credit without collateral through CMM and financing vehicles through subsidiary Danamon, Adira Finance.

He said that credit for MSMEs through DSP sepnjang grew 20 percent last year to reach Rp10, 9 trillion. "Micro-credit is now covering 17 percent of our total loans at the end of March 2009," he said.

He added, for the financing of motor vehicles through Adira Finance increased by 21 percent (YoY) reached Rp16, 6 trillion. While retail credit covers nine percent of the total credit Danamon.

Semnatar, he said, the ratio of loans on deposit (LDR) Danamon reached 81.4 percent down compared to last year which reached 89.4 percent.

Antara