PT Bank Tabungan Negara Tbk, an Indonesian mortgage lender, posted a 84.26 percent increase in the third-quarter net profit as demand for mortgage loans increased.
"Net income in the nine months ended Sept. 30 rose to IDR597 billion from IDR324 billion rupiah a year earlier, said President Director BTN Iqbal Latanro, via Blackberry message, today.
Net income rose to IDR206 billion rupiah from 126 billion rupiah a year earlier.
Loans increased to IDR49.18 trillion in the first nine months of this year compared with IDR38.12 trillion a year earlier. Net interest income rose to IDR2.35 trillion from 1.48 trillion rupiah a year earlier. Shares of Bank Tabungan Negara rose 2.8 percent to IDR2,025 on the Indonesian Stock Exchange today compare with IDR1,970 last week.
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