BCA Records Credit Growth Of 12.1 Percent In The First Quarter Of 2024

JAKARTA - PT Bank Central Asia Tbk (BBCA) recorded an increase in total credit by 17.1 percent on an annual basis (yoy) to IDR 835.7 trillion as of March 2024. The total growth in credit is above the industry average.

"We see optimism that public consumption, especially during this year's Ramadan and Eid al-Fitr periods, will also have a positive impact on BCA credit disbursement until March 2024," said BCA President Director Jahja Setiaatmadja, Monday, April 22.

Jahja said, until the end of March, the total KPR and KKB applications at the BCA Expoversary 2024 had reached more than IDR 30 trillion, and it was hoped that it would continue to grow until the closing later.

He also detailed that corporate loans grew 22.1 percent yoy, bringing the total to IDR 389.2 trillion as of March 2024, while commercial loans rose 9.3 percent to IDR 125.2 trillion.

Jahja said the credit performance of SMEs continued the growth trend above the industry average, such as the performance of the previous year.

As of March 2024, BCA's SME credit rose 13.5 percent yoy to Rp110.4 trillion. Consumer loans increased 14.9 percent yoy to Rp201.6 trillion.

"The growth of consumer credit was supported by KPR BCA which rose 11.0 percent yoy reached Rp121.7 trillion, KKB which grew 22.2 percent yoy to Rp59.8 trillion, and the outstanding increase in other consumer loans, which was mostly a credit card of 22.6 percent yoy, reached Rp17.1 trillion," explained Jahja.

BCA's credit disbursement to sustainable sectors in March 2024 grew 9.1 percent yoy, touching IDR 197.4 trillion or equivalent to 23.5 percent of the total financing portfolio.

BCA credit growth followed by improvements in loan quality, in line with the restructured credit portfolio gradually returning to normal payments.

The loan at risk ratio (LAR) was at 6.6 percent in the first quarter of 2024, down from the figure a year ago of 9.8 percent. The ratio of non-performing loans (NPL) is maintained at 1.9 percent.

"The NPL and LAR reserve ratios are at a solid level, 220.3 percent and 71.9 percent, respectively," concluded Jahja.