April 23, 2018 / 9:38 AM / a month ago

Indonesia's Bank Central Asia Q1 profit rises 10 pct

JAKARTA, April 23 (Reuters) - PT Bank Central Asia , Indonesia’s largest bank by market value, on Monday said its net income in the first quarter rose 10 percent from a year earlier.

The lender reported a net income of 5.5 trillion rupiah ($396 million) for the first quarter, up from 5 trillion rupiah a year earlier, supported by a 15 percent annual increase in loan distribution by the end of March.

The company targets 9-10 percent in loan growth this year.

A Thomson Reuters I/B/E/S poll of 20 analysts estimated an average net income of 26 trillion rupiah for Bank Central Asia in 2018. ($1 = 13,890.0000 rupiah) (Reporting by Cindy Silviana; Writing by Fransiska Nangoy)

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