Looking At The Digital Collaboration Of Bank Jago, Owned By Conglomerates Jerry Ng And Patrick Walujo, Cooperating With Gojek, Bibit, To Online Trading Stockbit

Photo: Doc. Bank Jago

JAKARTA - PT Bank Jago Tbk (ARTO) is quite aggressive in developing its business throughout 2021. Especially by cooperating with various technology companies, especially those based on fintech.

Bank Jago President Director Kharim Siregar said, during 2021 Bank Jago has collaborated with a number of fintech lending, multifinance, and other digital financial institutions in financing partnerships (partnership lending).

"This completes the integration of Bank Jago with the Gojek super app, the Bibit online mutual fund application, and the Stockbit online trading platform," said Kharim as quoted on Sunday, March 13.

According to Kharim, collaboration allows expansion to be carried out quickly, efficiently, and risk management is more controlled. This is reflected in the ratio of non-performing loans (NPL) which is at the level of 0.6 percent.

"Collaboration is our way of serving micro, small, and medium business customers as well as the wider community and retailers effectively and quickly. Through this financing, we want to contribute to the economic recovery due to the pandemic," said Kharim.

With these various collaborations, it is not surprising that the bank owned by conglomerates Jerry Ng and Patrick Walujo achieved a net profit after tax of Rp. 86 billion in 2021. Bank Jago had previously been losing money since 2015.

Even in 2020, Bank Jago closed the year with a loss of IDR 190 billion, lower than the company's initial estimate.

"Profit in 2021 is the start of Bank Jago's business. With the foundation we have built in the past two years, we believe that future growth will be more solid and faster," said Kharim.

As additional information, until the end of 2021 Bank Jago recorded total assets of Rp. 12.31 trillion, growing 465 percent compared to the same period the previous year. The company recorded a capital adequacy ratio (CAR) of 170%, which reflects strong capital to support expansion in the coming years.