Net Interest Income Increases, BTN Record Net Profit Of IDR 1.06 Trillion As Of May 2022

President Director of BTN Haru Koesmahargyo. (Photo: Doc. Antara/BTN)

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) earned a net profit of IDR 1.06 trillion as of May 2022. This record grew 49.19 percent compared to the same period last year of IDR 716.44 billion.

Citing the company's monthly financial report quoted by Antara, Wednesday, June 22, one of the pillars of BTN's net profit is the increase in net interest income. In this period, the value is IDR 5.9 trillion.

The net interest income rose 25.95 percent (yoy) from IDR 4.68 trillion in the same month last year.

At the same time, BTN has also succeeded in reducing interest expense by 28.95 percent (yoy) from IDR 5.8 trillion in May 2021 to IDR 4.12 trillion in May 2022.

The financial report also noted that as of May 2022, the housing finance specialist bank's assets reached IDR 374.27 trillion, up 4.25 percent (yoy) from IDR 359 trillion.

The increase was driven by the position of credit and Third Party Funds (DPK) which rose by 6.33 percent (yoy) and 7.56 percent (yoy).

Meanwhile, until the end of the year Bank BTN aims for net profit to grow at the level of 12 percent to 14 percent.

President Director of Bank BTN Haru Koesmahargyo previously said that the company is optimistic that it will achieve this target in line with the innovations carried out and the demand for housing is still high.