BCA 2010 net profit up 7.4 pct, misses forecast

PT Bank Central Asia , Indonesia's biggest lender by market value, saw 2010 net profit up 7.4 percent, according to an unaudited financial report on the central bank's website on Monday.

BCA, controlled by one of the nation's wealthiest business empires, Djarum Group, earned 7.3 trillion rupiah ($824 million)in 2010. That compared with a net profit of 6.8 trillion rupiah in the year-ago period.

However, the profit missed expectations by 22 analysts polled by Thomson Reuters I/B/E/S for full-year 2010 net profit of 8.13 trillion rupiah.

BCA said last year it expected loan growth of about 20 percent in 2011.

BCA shares fell 4.5 percent in the fourth quarter, outperforming a near 10 percent drop for the biggest state lender Bank Mandiri in the same period, but lagging a 5.8 percent gain in the benchmark Jakarta index . ($1 = 8857.5 Rupiah). Source: Reuters