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Jakarta (ANTARA News) - PT Bank Tabungan Negara (BTN) made a net profit of Rp490 billion in 2009, which is up from Rp430 billion in 2008.

Its president director, Iqbal Latanro, said in a press conference here on Monday the jump in net profit was driven by a rise in income reaching Rp5.73 trillion or 25.65 percent from Rp4.56 trillion achieved in 2008.

"Ninety percent of our income came from interest revenue," he said.

He also said that the bank`s financial ratio could be maintained well by the management despite unconducive macro-economic conditions in 2009 as shown by tight liquidity that had made banks take time to adjust their lending rates.

As a result banks` profitability was under pressure but BTN was able to maintain its financial ratio, he said.

In 2009 BTN booked Rp58.5 trillion in assets growing 30.06 percent from 2008`s assets of Rp44.9 trillion.

Its total credits in 2009 reached Rp40.7 trillion or grew 27.19 percent from Rp32 trillion recorded in 2008.

"The achievement is made due to expansion of corporate credits that reached Rp16 trillion in 2009," he said.

Iqbal predicted this year the bank could grow around 27 percent which is bigger than the project growth of the industry of 18 to 20 percent.

He said the bank`s non-performing loan until the end of 2009 could be maintained at 2.7 percent (NPL Net).

The bank`s capital adequacy ratio until the end of 2009 meanwhile reached 20.7 percent with a net interest margin at 4.7 percent, he said.(*)

Editor: Heru
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