Neo Commerce Bank Earns Interest Income Of IDR 547 Billion As Of End Of July 2022

JAKARTA - PT Bank Neo Commerce Tbk (BNC) recorded an increase in net interest income or net interest income (NII) of Rp547 billion or grew 302 percent at the end of July 2022 compared to June 30, 2022.

The positive performance achieved by Neo Commerce Bank is the result of the increasingly complete range of services and features that BNC provides in the Neobank application.

"In the past year, we have consistently continued to add various digital financial services and features that are truly useful and used by BNC customers. These various services also contributed to a significant increase in our performance in the first semester of 2022," said the Bank's President Director. Neo Commerce Tjandra Gunawan in an official statement, quoted by Antara, Monday, August 1.

This income was driven by the distribution of BNC's total loans which reached Rp. 7.0 trillion until Semester I 2022, an increase of 84.2 percent compared to the position of June 30, 2021, which amounted to Rp. 3.8 trillion.

This credit distribution, among others, is carried out digitally or online, which has proven to be in great demand by the public so that credit transactions through this product in the second quarter of 2022 increased quite significantly.

Meanwhile, BNC's commission-based income or fee-based income also increased significantly to Rp176.1 billion in June 2022, an increase of 973.8 percent compared to the position in June 2021.

In the first semester of 2022 BNC still recorded a loss of Rp. 611.4 billion, but this BNC loss consistently experienced a downward trend every month, where losses that had reached Rp. 159.9 billion in January 2022 continued to decline, until finally in June 2022, BNC recorded a profit of IDR 5.6 billion.

Meanwhile, BNC's promotion costs in the first semester of 2022 reached Rp. 251.3 billion, an increase of 139.8 percent when compared to promotional costs in June 2021 which amounted to Rp. 104.8 billion.

This is because BNC has just launched a mobile banking product (under the name neobank) at the end of March 2021, and BNC users at the end of June 2022 have reached 18.5 million or 9 times more than the number of users as of June 2021 which was 2 million users. so that the costs related to operations in the first semester of 2021 are not as high as the costs in the first semester of 2022.

Another good development is the gradual decrease in the Ratio of Operating Expenses to Operating Income (BOPO), where in December 2021 BNC's BOPO was in the position of 224.01 percent, then decreased to 192.34 percent in March 2022, and to 156.75 percent in March 2022. June 2022.

Not only that, the Net Interest Margin (NIM) ratio in June 2022 managed to increase to 10.16 percent from 7.72 percent in March 2022 and 5.15 percent in December 2021.

In addition, BNC also recorded various positive achievements, such as dj Assets which also increased quite significantly, namely by 104.6 percent from Rp. 6.99 trillion in June 2021 to Rp. 14.3 trillion in June 2022, or an increase of Rp. 3 trillion or 26. 6 percent when compared to assets in December 2021 of IDR 11.3 trillion.

"Meanwhile, in terms of liquidity, the acquisition of TPF in June 2022 increased by 37.03 percent compared to December 2021 from IDR 8.1 trillion to IDR 11.1 trillion. This proves that BNC is increasingly trusted by the public," added Tjandra.