Bank Raya Earns IDR 4.4 Billion Profit In The First Quarter Of 2023

JAKARTA - PT Bank Raya Indonesia Tbk recorded growth consistent with a net profit of IDR 4.4 billion in the first three months of 2023 (January-March).

Meanwhile, other operating income increased by 13.3 percent (year on year/yoy) to Rp65.4 billion from the previous year amounting to Rp39 billion.

"One of the contributors to the increase came from the recovery write-off which increased by 73.8 percent (yoy) to Rp39.1 billion," said Bank Raya President Director Ida Bagus Ketut Subagia in an official statement, quoted Thursday, April 27.

Meninjau dari sisi aset, Kredit yang Diberikan (KYD) tercatat sebesar Rp6,9 triliun atau lebih rendah 27,9 persen (yoy) dibandingkan tahun 2022 yang sebesar Rp13,2 triliun.

The decline is said to be in line with the company's transformation plan to transform the legacy business by adjusting the portfolio to medium loans to focus more on developing digital businesses.

During the first quarter of 2023, digital saving and digital lending products recorded a digital Bank Raya loan distribution of IDR 756 billion, an increase of 49.08 percent (YoY) from the previous year which amounted to IDR 507.1 billion.

The Bank Raya digital loan products include Pinang Dana Tanang, which has more than Rp6 trillion in disbursement, Pinang Connect, Pinang Maksima which increased 155.3 percent (yoy), Pinang Performa increased 179 percent (yoy), and Pinang Flexi increased 13.4 percent (yoy).

Meanwhile, in terms of liabilities, Bank Raya collected third party funds of Rp. 8.7 trillion with the growth of Bank Raya's digital deposits experiencing a significant increase. It was recorded that digital saving increased by 358.3 percent (yoy) to Rp710.4 billion from the previous year's Rp155 billion, "said Ida Bagus.

Furthermore, the growth of Raya Digital Saving users has reached more than 730 thousand users as of March 2023 since its launch in February 2022.

Since the Raya application was launched until the first quarter of 2023, the increase in the use of Raya Digital Saving which has reached more than 1.2 million transactions with a volume of almost IDR 2 trillion includes transfers and payments (QRIS, e-wallet, credits, & purchases of KAI tickets, PLN payments).

"Bank Raya will continue to improve digital saving utilization in terms of features and displays and improve customer data security in order to support the fast and secure digital banking transaction experience at Raya Digital Saving," he said.

This year, his party admits that it is committed to targeting various potential product expansions and strengthening an integrated digital payment ecosystem in one application so that it becomes an option for the community.

We will also continue to encourage the improvement of the quality of our digital products by building service infrastructure to encourage sustainable and profitable growth in the long term. So, we will continue to synergize with the BRI Group ecosystem in expanding access to banking products for customers, as well as providing the best experience of digital banking transactions," he said.