Amar Bank Gets 2 Awards Asia Pacific Enterprise Awards 2021

JAKARTA - PT Amar Bank Indonesia Tbk (Amar Bank), as a technology company with a banking license and digital bank that focuses on developing digital banks in Indonesia, announced its latest achievement at the prestigious Asia Pacific Enterprise Awards (APEA) 2021.

Amar Bank received the Corporate Excellence Award for the Financial Services Industry category. In addition, Vishal Tulsian as the President Director of Amar Bank also received the Master Entrepreneur Award.

Under Vishal's leadership, Amar Bank managed to grow the number of employees from only 17 people in 2014 to around 1,100 people in 2021, increasing interest income which grew by 86.8 percent CAGR from IDR 15 billion to IDR 650 billion within six years, and won a total of 22 awards since 2017.

Vishal also led the achievement of Amar Bank's core capital which reached more than Rp1 trillion as of June 2019 and was upgraded to a BUKU II bank. Amar Bank achieved an excellent level of profitability in just two years of operation.

Until 2020, more than Rp5 trillion in loans had been disbursed to more than 400,000 customers (100,000 of whom were MSMEs) through Tunaiku, Amar Bank's digital loan application.

Thanks to Vishal, Amar Bank successfully conducted an IPO in January 2020 and was listed on the Indonesia Stock Exchange with the code AMAR), releasing 1.2 billion shares. Vishal also pushed for the launch of Smileku, Indonesia's first cloud-based digital bank through collaboration with Google.

My smile, which is supported by AI technology and data analytics, aims to help Indonesians develop saving habits and maintain financial health.

"This award, which is a reflection of our commitment to increase Indonesia's financial inclusion and revolutionize the banking experience. We started our journey in 2014 with the belief that technology should be able to improve people's lives and we are also building new business models," said Vishal in his written statement. , Wednesday July 7th.

"This award proves that building a successful business model and making a positive social impact is something that can be done. I understand very well that this award is an extraordinary achievement. team," he added.

In the future, said Vishal, Amar Bank will continue to move and grow in creating innovations to improve access and financial literacy for all Indonesians. This is in line with our vision to make 200 million Indonesians smile by 2025.

In the midst of the national economic downturn due to the COVID19 pandemic, Amar Bank continues to demonstrate its commitment to providing financial services for the underserved and the unbanked.

With unique AI technology, digital banking (Senyumku) and intelligent digital loans (Tunaiku), Amar Bank has succeeded in simplifying banking bureaucratic processes to provide financial services that are easier and more convenient for customers.

With Tunaiku, more than 400,000 customers and SMEs across Indonesia have benefited from financial services. Through Tunaiku also, Amar Bank has disbursed more than Rp5 trillion in loans to customers with three main uses, namely home renovation, business capital, or education (all of these are categorized as productive loans).