The Financial Services Authority (OJK) reported on Monday (Sept 19) that the national banks booked net profit of Rp64.85 trillion for January-July 2016 period, grew by 9.79% from Rp59.07 trillion in the corresponding period of 2015. Per June 2016, the banks profit rose 8.2%. The banks’ net interest income grew higher than the growth of interest expense (1.36% year-on-year). Interest income rose 6.74% to Rp394.7 trillion from previous Rp369.79 trillion. Net interest income grew by 12.87% to Rp194.9 trillion. Net interest margin (NIM) increased to 5.59% in July 2016, from 5.32% in July 2015. Non interest income also rose 32.55% to Rp141.28 trillion while non interest expense increased 23.77% to Rp254.13 trillion.
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