Citibank Indonesia 3M net profit falls 29.76%

Bisnis.com,27 Mei 2011, 08:03 WIB

JAKARTA: Citibank Indonesia branchs net profit slipped 29.76% to IDR 403.39 billion over the first 3 months of the year from IDR574.31 billion in the same period last year as lower net interest income.The company pocketed IDR641.48 billion of net interest income in the first quarter of the year or decreased 19.31% from IDR794.95 billion.The operating profit dropped almost by half to IDR395.83 billion in the first quarter 2011, compared to IDR629.61 billion in the same period last year.The total third party funds as of the first quarter 2011 slightly increased 3.94% to IDR37.37 trillion from IDR35.95 trillion.Meanwhile, the asset rose 5.20% to IDR55.17 trillion as of March 31, 2011 from IDR52.44 trillion a year earlier.Bank Indonesia earlier this month banned Citibank Indonesia from adding new credit card clients for two years, and from new customers for its premium wealth service or opening new branches for a year as investigations continued into the alleged embezzlement of millions of dollars and the death of a debtor. (wiw)

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