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NEW UPDATES Asean Affairs  27 October 2014  

Indonesia’s largest state bank posts 12.9% net profit growth in first nine months

INDONESIA’S largest state-run bank in term of asset, Bank Mandiri, posted 14.5 trillion rupiah (US$1.2 billion) net profit as of the third quarter this year, 12.9 per cent higher than 12.8 trillion rupiah (US$1 billion) it earned in the same period last year, a senior official at the bank said here on Thursday.

“The profit growth was ultimately spurred by interest income growth that stood at 26.5 per cent,” president director of the bank, Budi Gunadi Sadikin, told a press conference in his office here.

Budi added that the bank also saw significant growth of 14 per cent in its asset to 798.2 trillion rupiah (US$66.1 billion) during the period.

The bank channeled a total of 506.5 trillion rupiah (US$41.9 billion) of loans during the first nine months this year, 12.4 per cent higher than 450.8 trillion rupiah (US$37.3 billion) it recorded in the corresponding period last year, Budi said.

The bank provides loans to the manufacturing, construction, investment and trade sectors.

The president director also said that the bank is ready to face the establishment of the ASEAN Economic Community slated for next year. The bank would transform itself in developing its core business along with its subsidiaries to face the free-flow of capital and resources in the region, he said.

“Through the integration, we aim to see sustainable business growth that would significantly contribute to the welfare of the nation and help us become one of the best banks in the region,” Budi said.--Xinhua

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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