Bank Mas From Wings Group Owned By Conglomerate Harjo Sutanto Earns IDR 213.13 Billion Profit In 2021

JAKARTA - PT Bank Multiarta Sentosa Tbk or Bank MAS (MASB) recorded an increase in net profit of 97 percent. The bank's profit from the Wings Group, owned by conglomerate Harjo Sutanto, reached IDR 213.13 billion throughout 2021.

Bank MAS President Director Ho Danny Hartono said this performance was driven by an increase in net interest income by 39 percent and coupled with an increase in other operating income by 192 percent and an increase in operating expenses by 9 percent.

"Bank MAS recorded growth in third party funds (DPK) of 4.44 percent to IDR 20.17 trillion from IDR 19.32 trillion in the previous year," he said in a virtual presentation of Bank Multiarta Sentosa's performance, Monday, May 9.

He added that this achievement was also supported by a 43.09 percent growth in savings to IDR 1.60 trillion, meanwhile time deposits grew by 4.62 percent to reach IDR 13.47 trillion and current accounts recorded a slight decline of 4.07 percent to IDR 5.11. trillion.

"This savings growth is supported by digital services where Bank MAS has started to offer online onboarding – digital account opening without customers coming to the branch," he continued.

He continued, the bank also managed to record a growth in lending of 5.31 percent from the previous IDR 7.49 trillion to IDR 7.88 trillion.

"In providing credit, Bank MAS continues to prioritize the precautionary principle. Bank MAS NPL has also improved, the Net NPL ratio in 2021 will be 0.51 percent compared to 2020 with a ratio of 1.90 percent," he continued.

Meanwhile, the gross NPL ratio was recorded at 2.48 percent in 2021 compared to 3.66 percent of gross NPL in 2020.

The Bank is also able to maintain capital adequacy (Capital Adequacy Ratio / CAR) at the end of 2021 reaching 26.42 percent above the level required by the Regulator. Meanwhile, the BOPO ratio is 78.68 percent.

"We will continue to accelerate the development of the digital platform that Bank MAS already has to expand customer acquisition through loan and deposit product innovations, as well as support customer business development through increasing credit volume," concluded Ho Danny.