BCA Earns IDR 24.2 Trillion Net Profit In Semester I 2023, Up 34 Percent

JAKARTA - PT Bank Central Asia (BCA) Tbk (BBCA) recorded a net profit of IDR 24.2 trillion, an increase of 34.0 percent in the first semester of 2023.

Meanwhile, credit disbursement performance grew by 9.0 percent year on year (yoy).

"This growth is driven by an increase in credit volume, an improvement in loan quality, and an increase in transaction volume and funding," said President Director of PT Bank Central Asia Tbk, Jahja Setiaatmadja in an online presentation of PT BCA's Semester 1 Performance in Jakarta, Monday, July 24.

Then, in terms of assets, the corporate loans that have been given by BCA have reached Rp326 trillion, an increase of up to 5.1 percent, until June 2023.

Along with the increase in business activities, commercial credit and SMEs also increased by 10.9 percent or reached Rp219.2 trillion.

"We are committed to continuing to support the government's efforts, especially in creating multiplier effects and stability for the national economy," said Jahja.

Meanwhile, mortgages grew 12.0 percent (yoy) to Rp114.6 trillion, and KKB rose 19.2 percent (yoy) or to Rp51.4 trillion.

This is because it was supported by the BCA Expoversary 2023 which was closed at the end of last April.

The outstanding balance of credit cards also grew by 15.4 percent (yoy) to Rp14.6 trillion, bringing the total portfolio of consumer loans to Rp183.9 trillion.

Thus, overall, BCA's total credit rose 9.0 percent yoy to IDR 735.9 trillion in June 2023.

"The consumer credit segment continues to record growth, supported by the results of the implementation of the 2023 BCA Expoversary which was closed at the end of April. In addition, we see the momentum of strong credit demand from the MSME sector, in line with the increase in business activities in that segment," said Jahja.

Credit disbursement to sustainable sectors also rose to 6.9 percent (yoy) or reached Rp181.2 trillion in June 2023, thus contributing up to 24.3 percent to the total BCA financing portfolio.

BCA credit growth was followed by consistency in supporting the development of the electric vehicle ecosystem, where BCA had distributed consumption financing for electric motorized vehicles amounting to IDR 751 billion as of June 2023 or 44 times (yoy).

Furthermore, BCA said, the loan at risk (LAR) ratio had fallen to 8.7 percent in the first semester of 2023 compared to the same period the previous year, which was 12.3 percent.

Meanwhile, the ratio of non-performing loans (NPL) was recorded at 1.9 percent or down from 2.2 percent from the previous year. The ratio of NPL and LAR reserves is at a solid level, 257.1 percent and 61.6 percent, respectively.

On the funding side, BCA noted, CASA increased by 5.7 percent (yoy) or reached Rp864.7 trillion as of June 2023, so it could be said that it contributed 81 percent of the total third party funds.

Overall, the total third party funds grew 6.0 percent (yoy) to Rp1,071 trillion, thus encouraging BCA's total assets to increase by 7.3 percent (yoy) to Rp1,357 trillion.

"We appreciate the government's policies and regulators in maintaining the fundamentals of the domestic economy amid the challenges of the global economy dynamics," he added.