Combined profit fell 14.62% to 14.685 trillion rupiah.
SNL Financial reports that the combined profit at the four largest Indonesian banks — PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk and PT Bank Negara Indonesia (Persero) Tbk — fell 14.62% year over year to 14.685 trillion rupiah in the second quarter.
"The decline came after Bank Negara Indonesia saw its asset write-downs jump 732.27% to 4.402 trillion rupiah, which pushed the company to a quarterly loss. In addition, Bank Mandiri (Persero) and Bank Central Asia posted small year-over-year profit gains, while nonperforming loans jumped at all four banks. The 10 largest banks in Indonesia held an aggregate 3.8021 quadrillion rupiah in assets as of June 30, with the big four banks accounting for 70% of the total," adds SNL Financial.
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