OCBC NISP's net profit up 23% to US$42m in Q1

Total assets grew 21% to US$10.8b.

According to Bank OCBC NISP's first quarter 2017 financial performance report, the bank recorded net profit growth of 23% YoY or become to Rp 563 billion (US$42m); while in loan gross disbursement recorded an increased of 11% to Rp 94.5 trillion (US$7b) by the end of first quarter of 2017 from Rp 85.1 trillion (US$6.4b) in the same period in 2016. Bank OCBC NISP also managed to maintain its key financial ratios. Capital Adequacy Ratio (CAR) recorded 18.2%, Return On Equity (ROE) at 11.5%, Return On Assets (ROA) 2.1% and net NPL ratio stable at 0.8% far below the requirement of Bank Indonesia by 5%.

Bank OCBC NISP continues its positive growth in the first quarter of its financial performance report of 2017 as a result of consistent efforts to increase its performance across all aspects. Bank OCBC NISP managed to record 21% growth in assets as of March 31, 2017 to Rp 143.9 trillion (US$10.8b) from Rp 119.4 trillion in the same period of the previous year. In addition, third party funds also grew by 22% to Rp 109.7 trillion at the end of March 2017 compared to Rp 89.6 trillion at the end of March 2016. Dealing with diverse needs of customers, Bank OCBC NISP supports the increasing product and service quality by actively develop innovative and value-added customer programs.

“Closing off the first quarter, as a Gateway bank, Bank OCBC NISP has collected Rp 2.3 trillion of tax amnesty redemption funds and repatriation funds by Rp 8.5 trillion, doing so would growing our third party funds. The banking industry will be one of the major milestones in providing financial instrument solutions to the investors especially for individuals and corporations. With the implementation of Automatic Exchange of Information (AEOI) dan Base Erosion and Profit Shifting (BEPS) in the near future, banks will generally see these as an opportunity," said President Director of Bank OCBC NISP Parwati Surjaudaja.