BTN Credit And Financing Reaches IDR 352 Trillion In Semester I 2024

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BTN) noted that lending and financing reached around Rp352.06 trillion during the first semester of 2024. This acquisition grew 14.4 percent on an annual basis (year-on-year/yoy) compared to the same period last year of Rp307.66 trillion.

"In the midst of very challenging global economic conditions, BTN can still make positive performance throughout the first semester of 2024. Even BTN's credit and financing distribution has succeeded in significant growth. We are optimistic that until the end of 2024, BTN will still be able to record positive financial performance," said BTN President Director Nixon LP Napitupulu in his statement, Thursday, July 25.

Nixon revealed that the distribution of housing loans and financing still dominates the company's total credit and financing in the first semester of 2024. The housing loans and financing disbursed by BTN until the end of June 2024 reached Rp299.24 trillion.

Of this amount, KPR Subsidy in the first semester of 2024 was still the largest contribution with a value of IDR 171.01 trillion growing 12.4 percent yoy compared to the same period last year of IDR 152.16 trillion. Meanwhile, Non-Subsidized mortgages grew 12 percent yoy to IDR 101.76 trillion in the first semester of 2024 compared to the same period last year of IDR 90.83 trillion.

"We are spurring credit by taking great care of the precautionary principle. Our NPL Gross ratio is still well maintained at the level of 3.1 percent. By the end of this year we hope to reduce the NPL ratio to below 3 percent," said Nixon.

In terms of third party funds (DPK), as liquidity in the banking industry was tight, BTN succeeded in increasing the DPK in the first semester of 2024 to Rp365.4 trillion, an increase of 16.6 percent yoy compared to the same period last year which amounted to Rp313.3 trillion. Of this amount, the acquisition of low-cost funds or CASA reached Rp189.21 trillion, an increase of around 11.16 percent yoy compared to the end of June 2023 of Rp170.21 trillion.

During the first semester of 2024, BTN's net profit grew to IDR 1.502 trillion, an increase compared to the same period last year of IDR 1.474 trillion. Meanwhile, BTN's total assets until the end of June 2024 rose 13.7 percent yoy to IDR 455.60 trillion compared to the same period last year which amounted to IDR 400.54 trillion.

In line with conventional business growth, the net profit of the Sharia Business Unit (UUS) BTN (BTN Syariah) also grew positively in the In2024 semester. The net profit of the BTN UUS was recorded to have jumped to 31.7 percent yoy to Rp370 billion in the first semester of 2024 compared to the same period last year of Rp281 billion.

The positive achievement of BTN Syariah is supported by stable business growth. In the first semester of 2024, Islamic financing was recorded to have grown by around 22 percent yoy to Rp41 trillion compared to the end of June 2023 of Rp34 trillion.

Meanwhile, the total number of DPKs that were collected by BTN Syariah during the first semester of 2024 reached Rp46 trillion or grew 32 percent yoy compared to the same period last year of Rp35 trillion. With this achievement, BTN Syariah's assets managed to grow 20 percent yoy to Rp56 trillion compared to the same period last year of Rp46 trillion.