Merryl Lynch Gains 33%, Credit Suisse by 223%
VIVAnews - PT Merril Lynch Indonesia booked net profit of Rp 88.35 billion, an increase by 33.32 percent compared to 2007 with Rp 66.27 billion.
The increase was mainly supported by the growth in business income by 20.45 percent to Rp 187.33 billion compared to the previous Rp 155.53 billion.
Compared to other securities companies, the growth reflected different situation. In 2008, many securities companies recorded decline in net profit or even experienced losses due to tumbled contribution from securities portfolio.
"Merril Lynch did not have trading and portfolio and margin transaction," said President Director of Merril Lynch Indonesia, Lily Widjaja, on Tuesday, April 7.
Widjaja went on to say that the company was not involved in margin transaction. The company's business income was only from brokerage and adviser.
"It was carried out to simplify Merril Lynch operation. It was not complicated," he said.
Based on the company's financial report, brokerage service contributed to income to Rp 167.75 billion or a 25.2 percent increase from the previous Rp 133.99 billion. Meanwhile, adviser service slightly decreased by nine percent to Rp 19.59 billion compared to 2007 with Rp 21.54 billion.
However, Merril Lynch lost currency by Rp 2.36 billion compared to the previous one, gaining benefit of Rp 1.17 billion.
Meanwhile, Credit Suisse Securities Indonesia also gained net profit in 2008 by Rp 38.13 billion or 223.96 percent compared to 2007 with Rp 11.77 billion.
Business income of Credit Suisse reached Rp 152 billion compared to the previous Rp 101.36 billion, or equal to 49.96 percent.
Profit before tax grew by 229.72 percent to Rp 55.36 billion compared to the previous 16.79 billion.
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Translated by: Bonardo Maulana Wahono
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