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Foreign Banks & Their Performance
Four foreign banks have released their first half results Friday morning. Three of them booked net profit, with only Standard Chartered Bank in red. Two of them reported lower net profit. One of them reported strong growth in assets, revenues, and profitability. Interestingly, all of them reported substantial growth of loss category loans. ,Last Updated ( Fri, 27 Aug 2010)
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| CIMB-Niaga
Bank CIMB-Niaga is the fifth largest bank in Indonesia by assets, but sixth by market capitalization, below Bank Danamon. CIMB-Niaga posts 62.3% net profit growth in the first half of 2010, while its assets surged 23.7%. But the stock closed flat on Monday. (Mon, 23 Aug 2010)
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| Danamon & The Banking Stocks
Banking stocks have outperformed the market this year. Seven out of eight major banking stocks (by market capitalization) gained more than 23% this year, leaving Bank Danamon (BDMN) as the only major bank with below-market performance despite a stronger fundamentals. Why? (Sat, 21 Aug 2010)
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| More Articles |
| • H1 Results: Banks | Banking | This is probably one of the best years for banking sector, where almost all stocks outperformed IDX composite index, while their profit surged substantially. The sick man in the sector is Bank International Indonesia (BII), which lost 12.1% year-to-date. | |
| • Affin Holdings & Ina Perdana Bank Acquisition | Banking | Affin Investment Bank, a subsidiary of Affin Holdings Berhad, has finally submitted proposal to acquire Bank Ina Perdana with an estimated price tag of RM138 million, relatively cheaper than the price offered by another Malaysian company RHB Capital to acquire Bank Mestika. | |
| • H1 Results: Bank Central Asia | Banking | Should the government keep its majority ownership in Bank Central Asia (BCA), the US$6 billion bailout funded by the State may have been paid back, a fool says. Djarum Group & Farallon are the luckiest investors on planet earth to get the majority control of the bank. They spent US$650 million to get the bank, but now the bank generates more than US$700 million per annum. | |
| • Bank Capital (BACA): A Must READ (VI) | Banking | Bank Capital (BACA), at the heart of suspicious "deposits" of Bakrie & Danatama-related companies, has just released its financial results for the first half of 2010. The bank reported net profit of Rp18.9 billion, surged from Rp7 billion in H1/09. Who actually owns the bank? | |
| • H1 Results: Bank Mandiri | Banking | Bank Mandiri, the largest bank in Indonesia by asset, reported net profit of Rp4 trillion in the first half of 2010, surged 37.8% from the same period last year despite lower net interest margin. The stock gained 1.67% yesterday to book a 30% gain year-to-date. But why Mandiri is still valued lower than BCA and BRI? | |
| • Bank Capital (BACA): A Must READ (V) | Banking | In order to clarify the status of funds of Bakrie-related companies in Bank Capital (BACA), authorities should join forces in investigating the issue. Statements from Bakrie-related companies have added more confusions, especially because most of transactions were "recorded" on March 31, 2010 without restatement of cash-flow and balance sheets. | |
| • Banking Stocks | Banking | Bank Tabungan Negara (BBTN) is the first Top 10 bank to release its first half results. The bank posted net profit of Rp390 billion, almost doubled from Rp198 billion in the first half of 2009. The stock, meanwhile, skyrocketed 113.1% year-to-date. | |
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