REPUBLIKA.CO.ID, BANDUNG - Publicly listed regional development bank (BPD) of West Java and Banten, popularly known as Bank BJB booked a net profit of 1.37 trillion IDR or increased 15.3 percent compared to previous year. President Director of BJB, Bien Subiantoro said the improvement also followed by an increase in assets reaching 7.9 trillion IDR.

"Company's net income was driven by an increase in business activity, especially in terms of third party funds," Subiantoro said on Tuesday.

BJB's credit grew 28.1 percent or 45.3 trillion IDR thanks to the increase of banking profitability ratio in 2013. Company's return on assets (ROA) increased 2.1 percent followed by return on equity (ROE) 22 percent and net interest margin (NIM) of eight percent.

BJB continues to expand its credit and third party fund. Consumer credit and also housing loans grew significantly 127.2 percent and 27.5 percent. Micro credit sector has reached 5.35 trillion IDR or increased 17.8 percent year on year (yoy), while retail consumer accounts has reached 2.9 million accounts with total of five million customers.

Savings growth of company has reached 35.4 percent. Subiantoro said that banking sector in 2013 faced several economic conditions impacting expensive deposits and low cost funds.

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