JAKARTA (Indonesia Today) – Citibank Indonesia branch booked net profit of Rp1.1 trillion in the first half ended June 30, 2012, an increase of 69% from the corresponding period last year, mostly due to substantially lower decline of financial assets’ fair value.
According to the bank’s financial statement, net interest income inched up to Rp1.5 trillion in the period. Decline of financial assets’ fair value, meanwhile, reached Rp180.7 billion in the first half, dropped by 55% from Rp406.3 billion in the first half of 2011.
Citibank, accordingly, booked operating profit of Rp1.01 trillion, representing 97% jump from Rp513 billion it booked in the first six months of 2011.
Citibank’s assets, meanwhile, grew slightly to Rp61.89 trillion from Rp58.85 trillion as of December 31, 2011. Current account grew substantially in the period, but saving accounts and time deposits were relatively flat. (Indonesia Today)
Read: HSBC vs Citibank in Indonesia at Yosefardi.com.