The Indonesia Clearing and Guarantee Corporation (KPEI) posted a net profit for the year 2020 amounting to Rp122.851 billion or an increase of 17.75% from Rp104.327 billion in the previous year.

The company's financial report published on Tuesday (16/3) showed that the ability of KPEI to reduce operating expenses by around 7.30%, from Rp333.187 billion to Rp308.837 billion, spurred the net profit growth.

However, the company's operating income decreased by around 0.975% to Rp473.757 billion from Rp478.423 billion.

Until the period ended December 31, 2020, KPEI's total assets were at Rp4.438 trillion, or an increase of 23.41% from Rp3.596 trillion in the previous year. This amount consists of liabilities and equity of Rp2.850 trillion and Rp1.588 trillion, respectively.

Meanwhile, cash and cash equivalents position at the end of the year increased by 15.94% from Rp619.451 billion to Rp718.328 billion.