BCA, Mandiri top $1.1B net profit in 2011

Bank Mandiri and Bank Central Asia may have broken the US$1.1 billion or Rp 10 trillion mark in net profits.

This was due to strong lending and fee-based income, unaudited figures show.

The banks’ audited financial statements will be released within the week.

Mandiri’s bottom line jumped 30.8 percent to Rp 11.57 trillion in 2011 compared with a year earlier, while BCA’s was up by 21.91 percent to Rp 10.21 trillion during the same period, according to the banks’ unaudited financial statements published by regulator Bank Indonesia.

Indonesia's top 10 banks surged in lending and consequently net profits as the steady overall economic growth of more than 6 percent in the past two years has increased demand for more financing, according to their audited financial statements for the year ending December 201.

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