Banks lead Indonesian industries in 2012 net income

There were 141 state-controlled firms in Indonesia that booked a combined 11 percent rise in net income this year.

The strongest growth came from the banking sector, according to a high-level official at the State Enterprise Ministry .

Net income by companies, which the government has a controlling stake or owns entirely, rose to Rp 128 trillion ($13 billion) from Rp 115.6 trillion. Data gathered by the ministry may not be audited by accounting firms.

Wahyu Hidayat, secretary to the State-Owned Enterprise Minister Dahlan Iskan said the four state-controlled lenders — Bank Mandiri, Bank Rakyat Indonesia, Bank Negara Indonesia and Bank Tabungan Negara — booked Rp 43.8 trillion in combined net income, which represents a 28 percent increase from 2011.

Meanwhile, non-bank state firms made Rp 33 trillion in net income in 2012, showing a slight increase from Rp 30 trillion in 2011, data from the ministry showed.

In energy, net income booked by the two key energy companies, Pertamina and Perusahaan Listrik Negara, fell to Rp 26.8 trillion from Rp 28.3 trillion.

For more.

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