Jakarta (ANTARA News) - Bank Mutiara or the former Bank Century had earned a net profit of Rp231 billion by October 31, 2009, despite the controversy over its bailout, the bank`s chief said.

Bank Mutiara President Director Maryono said at a press conference here on Thursday the bank`s profit came from fee-based income and interest.

He said the profit was down compared to September 2009`s profit which was recorded at Rp137.3 billion due to a foreign exchange loss.

"But I am sure it will rise again," he said.

He said the fee-based income contributed 20 percent or around Rp60 billion of its earnings from trade finance through bank notes transactions.

"In 2010 we target it to reach Rp90 billion," he said.

Maryono said he also planned to conduct credit expansion which by October 2009 reached Rp4.467 trillion including Rp900 billion in new credits.

"The funds for the new credits did not come from the bailout funds but from third parties, which have already improved," he said.

He said public confidence in Bank Mutiara had been restored marked by increasing third party funds which until October 2009 reached Rp5.808 trillion or 13.53 percent from Rp5.116 trillion recorded in December 2008.

Regarding the number of accounts, he said, it totalled around 41,000 savings accounts and 8,400 credit accounts.

The bank`s capital has been positive with its capital adequacy ratio increasing to 10.07 percent until October 2009 from minus 22.29 percent at the end of last year.

The ratio of its non-performing loans has also improved from 6.81 percent in September 2009 to 6.58 percent in October 2009.(*)

Editor: Ruslan Burhani
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