Former Century Bank Lost IDR 484 Billion In 2020, Even Though Last Year It Was Profitable IDR 49 Billion

JAKARTA - PT Bank JTrust Indonesia Tbk (BCIC) experienced a bitter period in the 2020 financial year. The company recorded a large loss in the 2020 financial year.

Quoted from the JTrust Bank financial report published on the information disclosure page of the Indonesia Stock Exchange (IDX), Wednesday, April 28, the company is formerly known as Bank Century and Bank Mutiara recorded a loss of IDR 484.4 billion in 2020, reversing from 2019 which had a profit of IDR 49.9 billion.

Bank JTrust posted a net interest income (NII) of IDR 26 billion, down 48 percent on an annual basis. The company also booked a loss from the sale of assets of around IDR 53 billion.

In addition, the impairment loss of assets reached IDR 98 billion. Even so, the performance of Bank JTrust's intermediation function was still positive, where credit rose 17.7 percent on an annual basis to IDR 7.3 trillion.

Public funds were recorded to have increased 2 percent on an annual basis to IDR 13.06 trillion. The company was noted to have restructured loans worth IDR 1.98 trillion last year.

With these efforts, the gross non-performing loan (NPL) ratio was able to be managed at 4.97 percent. This position is up from 2019 at 1.49 percent.

The capital adequacy ratio as of the end of last year stood at 11.59 percent. The company's tier 1 capital was recorded at IDR 1.12 trillion, so Bank JTrust needed a new capital injection to meet Financial Services Authority's new capital regulations.