Conglomerate Chairul Tanjung Raup Cuan! His Mega Bank Books Rp2.53 Trillion Profit In The Third Quarter 2021

JAKARTA - PT Bank Mega Tbk recorded performance growth in the third quarter of 2021. The banking issuer owned by the Chairul Tanjung conglomerate earned a net profit of IDR 2.53 trillion in the first nine months of this year.

The net profit achievement grew by 43 percent compared to the achievement of the same period last year (yoy) which amounted to Rp. 1.76 trillion. The company's profit before tax also grew by 42 percent (yoy) to Rp3.14 trillion compared to the same period last year of Rp2.21 trillion.

Bank Mega President Director Kostaman Thayib said the profit growth of the issuer coded MEGA was supported by net interest income, which rose by 25 percent (yoy) from Rp. 2.97 trillion in the third quarter of last year to Rp. 3.71 trillion.

Another contribution was obtained from the growth of Fee Based Income which rose six percent (yoy) to Rp. 1.73 trillion from Rp. 1.64 trillion.

"In addition, other factors that contributed to the increase in Bank Mega's profit were obtained from the decrease in bank operating costs by three percent (yoy) from Rp. 2.38 trillion to Rp. 2.31 trillion. This shows the success of Bank Mega in implementing efficiency and transformation programs. digital," he said in a written statement, Friday, October 29.

Bank Mega also recorded growth in the collection of Third Party Funds by eight percent to Rp85.83 trillion compared to the position in December 2020 (ytd) of Rp79.19 trillion. This was contributed by an 11 percent growth in savings to Rp15.30 trillion and a 10 percent growth in time deposits to Rp62.54 trillion.

Along with the recovery of the Indonesian economy since the COVID-19 pandemic, he added, Bank Mega managed to increase lending. Until September 2021, Bank Mega recorded credit growth of 11 percent to Rp53.94 trillion compared to the December 2020 position of Rp48.49 trillion.

"This was mainly contributed by the increase in corporate loans by 25 percent to Rp. 32.74 trillion compared to the position in December 2020 of Rp. 26.21 trillion. In September 2021, Bank Mega's total assets increased by seven percent to Rp. 119.77 trillion compared to December 2020's position of Rp. Rp112.20 trillion," he said.

Kostaman said, Bank Mega succeeded in carrying out operational efficiency through digital innovation and automation that had been carried out well. This is reflected in the ratio of Operating Expenses to Operating Income (BOPO) in the third quarter of 2021 which fell to 60.09 percent, improving compared to the same position in the previous year of 70.98 percent.

Bank Mega also recorded an improvement in the Capital Adequacy Ratio (CAR) in the third quarter of 2021 to 28.20 percent compared to the same position the previous year of 26.01 percent. Meanwhile, the ratio of non-performing loans (NPL) in the third quarter of 2021 was recorded to have fallen to 1.25 percent (gross) from the same position in the previous year of 1.40 percent.

"Bank Mega's success in earning profits is also reflected in the Return on Assets (ROA) ratio in the third quarter of 2021, which was recorded at 3.66 percent, up compared to the same position in the previous year of 2.92 percent. While the Return on Equity (ROE) ratio of 20.21 percent increased compared to the same position the previous year of 15.67 percent," he concluded.