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February 26, 2008 |
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BANK PERMATA: 2007 Pre-Tax Profit Up 62% to IDR736.8 Billion PT Bank Permata Tbk's 2007 pre-tax profit increased 62% to IDR736.8 billion from IDR455.2 billion in 2006, Asia Pulse reports. According to the report, the bank said the increase was due to strong growth in credits and fee-based income. The bank, the report relates, reported a 11% growth in credits increasing its loan to deposit ratio to 88% in 2007 from 83% in 2006. While the bank's fee-based income rose 87% to IDR1 trillion, the report notes. The bank also reported an outstanding credit of IDR25.99 trillion with assets valued at IDR39.13 trillion by the end of 2007, the report adds. About Bank Permata Headquartered in Jakarta, Indonesia, PT Bank Permata Tbk's -- http://www.permatabank.com/ -- products and services include liabilities, asset, credit card and bancassurance, PermataFOREX, commercial banking, e-channels and preferred banking. The bank has approximately 318 domestic branches, sub branches and cash offices throughout the country. The bank's subsidiaries, which are engaged in the securities industry, the consumer finance and leasing sector, the general insurance business and the banking sector, include PT Bali Securities, PT Bali Tunas Finance, PT Asuransi Permata Nipponkoa Indonesia and Bank Perkreditan Rakyat. As reported by the Troubled Company Reporter-Asia pacific on Feb. 25, 2008, Fitch ratings has taken rating actions on PT Bank Permata Tbk. The Outlook has been revised to Stable from Positive. The bank's support Ratings has been upgraded to '3' from '4'. The Support Rating Floors have been upgraded to 'BB-' from 'B+' or 'B' previously to reflect the stronger financial ability of the sovereign state to provide support. The bank's individual rating was also affirmed at C/D. On Oct. 19, 2007, Moody's Investors Service raised the foreign currency long-term debt and foreign currency long-term deposit ratings of Bank Permata. The detailed ratings are: -- The foreign currency long-term deposit rating was raised to B1 from B2. -- The Not Prime foreign currency short-term deposit rating, Baa3 global local currency deposit rating and D- BFSR were unaffected. |
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