2016, Permata Bank Posts Rp 6.5 Trillion Loss

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17/02/2017 14:10 WIB

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2016, Permata Bank Posts Rp 6.5 Trillion Loss

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Permata Bank Profit/Loss 1997-2016

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Throughout 2016, PT Bank Permata Tbk recorded a loss of Rp 6.48 trillion, whereas the previous year it still recorded a profit of Rp 247.11 billion. This loss is the largest and the first since 2003.

Increased loan loss provisions due to a decline in credit assets caused the bank, which has the trading code BNLI on the Indonesia Stock Exchange, to experience a loss for the first time in 13 years. However, this loss by the subsidiary of PT Astra International did not significantly affect its share price on the exchange. On February 16, 2017, Bank Permata's share price closed at Rp 725 per share, up 0.7 percent compared to the previous day's closing price.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."