JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) gained 0.36% to 4,691 this morning following most markets in region. While Japan’s Nikkei dropped 2%.
Banking stocks were mixed.Bank Mandiri and Bank Negara Indonesia gained 0.58% each while Bank Central Asia rose 0.98%. Bank Rakyat Indonesia was flat. Bank Tabungan Negara and Panin Bank declined.
Bank Negara Indonesia reported net profit of Rp4.28 trillion in first half of this year, grew by 30.2% compared to Rp3.29 trillion in the same period of last year.
The main contributors for profit growth are net interest income which increased 23% and non interest income that also rose 22%. Then profit from operation grew by 22.7% to Rp13.45 trillion.
Invesors remain concern on expected high inflation and cost of fund which give pressure on the bank’s net interest margin.