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Fri, February 10, 2012
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WOM Earnings Soar 193% On Reduced Lending Costs
February 11, 2010

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Motorcycle financing company PT Wahana Ottomitra Multiartha said its 2009 net profit rose by 193 percent to Rp 60.7 billion ($6.5 million), compared with Rp 20.7 billion in 2008, as its financing costs declined.

The company said its lending costs fell to Rp 352 billion in 2009, compared with Rp 494 billion in 2008, as retail banks lowered interest rates in line with the central bank.

WOM also cut it provision for bad vehicle loans to Rp 187 billion from Rp 276 billion in 2008. 

JG




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