Bank Resona perdania has successfully increased its total assets by 18.63% of the total in 2009 to reach Rp 7,867,084 million in 2010.
Honored Stakeholders, The Indonesian economy grew very steadily last year due to strong domestic consumption and capital expenditure. Indonesia’s political stability and stable economic situation boosted its status as one of the most attractive investment countries in the region. Thanks to these positive factors, the Indonesian banking sector as a whole benefited significantly.
With these positive indicators for the country, many Japanese companies look for new business opportunities in Indonesia. This also means that local Indonesian companies are also looking to ride the crest of this investment wave. We at Bank Resona Perdania, as the first Japanese joint venture bank, with extensive and deep knowledge of Indonesian business; stand ready to serve these companies in seeking new business opportunity.
With these favorable economic conditions, the Bank was afforded many opportunities during 2010. The Bank’s management has worked hard to achieve its goals as described below.
Being a corporate oriented bank, Bank Resona Perdania’s customer base is comprised of a well-balanced mix between Japanese and Indonesian companies. In the first half of 2010, loan demand from Japanese customers was relatively weak. However, loan demand from Indonesian companies was quite strong. This fact contributed significantly in sustaining the Bank’s interest income and proved that our choice for customer base balance is the right one. Bank Resona Perdania has successfully increased its total assets by 18.63% of the total in 2009 to reachRp 7,867,084 million in 2010. This increase was accompanied by a corresponding increase in the amount of loans disbursed amounting to 31.16% from 2009 become Rp 6,256,518 million in 2010. Of the total loan, more than half were loans in Rupiah reaching a 73.58% increase from 2009 to become Rp 3,198,778 million in 2010. Loans in foreign currency also increased by 4.45% from 2009 to become Rp 3,057,740 million. To put these achievements in perspective, the average national credit growth was only 22.8%.
It is my strong conviction that our corporate value will increase in a constant manner as long as we build our customer base in a balanced manner. We have successfully achieved our business plan targets for 2010.
Just as importantly, due mainly to disciplined risk management, astute credit monitoring, selected acquisition and preservation of loan customers, the Bank has also managed to lower the gross NPL ratio to 2.99% from the business plan of 3.20% and Net NPL to 1.22% from the 1.61% of the business plan.
In January 2010, Bank Resona Perdania had implemented the GAAP 50 and 55 Revised 2006. By any operational measure, this was an extremely challenging task to perform. We take pride in the dedication of our staff in making this remarkable achievement.
For the year 2011, Bank Resona Perdania will continually striving to improve its internal administration processes that will result in higher quality of service. The Bank fully recognize and understand that the path to gain the trust of our valued customer is possible only through continued improvement of the Bank’s quality control by everyone in the Bank.
Business activities for the coming year will get heavy pressure from Bank Indonesia vigilance againts persistent inflationary pressure that will impact on the release of several new regulations in the near future such as increase in foreign currency statutory reserve ratio up to 8% by June 2011 and restriction of short term foreign currency funding that will negatively affect the Bank’s cost of funding and its liquidity. Thus, we have to be more careful in lending loans by consideration of its profitability and risk.
In closing, on behalf of the Board of Directors I would like to extend my gratitude to all our shareholders, customers, the Board of Commissioners, and our parent company Resona Bank Ltd., for the trust and support that was given to enable us to conclude 2010 with positive results.
Our respect also goes to our employees and otherstakeholders for believing in the Bank and the Management, without whom Bank Resona Perdania would not have been where we are today.
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