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BII sees return to profit in 2000

JAKARTA: Bank Internasional Indonesia (BII), one of the country's largest listed bank, said on Monday it forecast a net loss of around 1.9 trillion rupiah ($254 million) in 1999 but expected to return to profit this year.

The company's shares remained unchanged at 100 rupiah, with the forecasts in line with market expectations.

"We expect a profit this year," newly appointed President Director Hiroshi Tadano told a news conference.

Earlier, shareholders approved the appointment of Tadano, a Japanese national, to replace Hanafi Gan Bin Abdullah, who resigned in January for health reasons.

Tadano said 1999's performance would be helped by expected payment of interbank claims from banks under the control of the Indonesian Bank Restructuring Agency (IBRA).

"I think we have around 1.5 trillion rupiah interbank claims, settlement expected in two months," he said.

IBRA's payment of interbank claims was delayed by a scandal last year surrounding Bank Bali's efforts to get claims repaid.

BII made a net loss of 1.73 trillion rupiah in the first nine months of 1999, and a net loss of 11.79 trillion in 1998.-Reuters