Having Assets Of IDR 1,259 Trillion, BCA Raises A Net Profit Of IDR 8.1 Trillion In The First Quarter Of 2022

JAKARTA - PT Bank Central Asia Tbk (BBCA) recorded a net profit of IDR 8.1 trillion in the first quarter of 2022. This record grew 14.6 percent on an annual basis (year on year/YoY).

President Director of BCA Jahja Setiaatmadja said the increase in net profit in the first quarter was supported by business growth, including increased credit, transaction, and CASA activities. In line with the recovery of the national economy, total credit rose 8.6 percent YoY.

"Credit growth occurred in all segments, both business and consumer loans", he said in a virtual performance presentation, Thursday, April 21.

Meanwhile, current accounts and savings funds (CASA) continued to grow sustainably, increasing to 21.7 percent YoY in March 2022 to reach IDR 789.2 trillion in March 2022, as a result of consistent digital service innovation and expansion of the business ecosystem.

Jahja said time deposits also grew 3.1 percent (YoY) to IDR 199.6 trillion, bringing the total third party funds up 17.5 percent (YoY) to IDR 997.8 trillion and helping push BCA's total assets up 15.5 percent. (YoY) to IDR 1,259.4 trillion at the end of March 2022.

"Consistent development of digital solutions on transaction banking platforms, coupled with a high level of customer trust, is the main capital to strengthen CASA's contribution as the bank's core fund", he explained.

Not only that, but BCA also continues to strengthen the expansion of the digital ecosystem and customer base through collaboration with various strategic partners. BCA noted that in the first three months of 2022, the total transaction volume increased by 43 percent (YoY) to reach more than five billion transactions.

"Along with solid liquidity and credit growth, BCA posted a positive growth in net interest income (NII) for the first three months of 2022, which rose 2.5 percent (YoY) to IDR 14.5 trillion", he continued.

Meanwhile, income other than interest grew 19.5 percent (YoY) to IDR 5.9 trillion in the same period, supported by an increase in fee and commission income of 15.8 percent (YoY).

In total, Jahja said operating income was recorded at IDR 20.4 trillion, up 6.9 percent (YoY). Along with the improvement in asset quality, provision costs decreased by 13.4 percent compared to the previous year.