Bank Mega Owned By Conglomerate Chairul Tanjung Earns IDR 703.71 Billion Profit In The First Quarter Of 2022

JAKARTA - PT Bank Mega Tbk (MEGA) posted a net profit for the year of IDR 703.71 billion in the first quarter of 2022. The achievement of the bank belonging to the conglomerate Chairul Tanjung is lower than the same period the previous year.

In Bank Mega's financial report, quoted on Sunday, May 8, the company's net profit fell 6 percent year-on-year (yoy), from IDR 747.23 billion on March 31, 2021, to IDR 703.71 billion in the same period in 2022.

The company's interest income will be IDR 1.99 trillion as of March 31, 2022. Meanwhile, Bank Mega's interest expense has decreased by 20 percent yoy, although it is still losing money from IDR 824.38 billion to IDR 661.27 billion.

As a result, the net interest income earned by Bank Mega grew 14 percent yoy, from IDR 1.16 trillion to IDR 1.33 trillion. Then in terms of lending, Bank Mega was able to record loans growing 27 percent yoy.

Bank Mega credit increased from IDR 49.26 trillion in the March 2021 period to IDR 62.52 trillion as of March 2022.

Although it recorded a decrease in net profit in the first quarter of 2022, the company was able to record total assets of IDR 113.2 trillion, from the previous IDR 111.59 trillion. Assets owned by Bank Mega experienced a slight increase, namely 1 percent yoy.

Meanwhile, Bank Mega's Third Party Funds (DPK) also grew 13 percent yoy, from IDR 78.48 trillion to IDR 88.81 trillion. The increase in TPF came from low-cost funds or CASA (Current Account Saving Accounts) in the form of demand deposits and savings, which increased by 13 percent yoy, from IDR 24.43 trillion to IDR 27.53 trillion.

In addition, Bank Mega is noted to have a core capital (tier 1) of IDR 16.2 trillion as of March 2022, an increase of 7 percent yoy from the previous IDR 15.1 trillion at the same position in 2021.