Allo Bank, Digital Bank Created By Conglomerate Chairul Tanjung Earns Net Profit Of IDR 150.62 Billion In Semester I 2022

Conglomerate Chairul Tanjung. (Photo: Doc. Antara)

JAKARTA - The digital bank belonging to the conglomerate Chairul Tanjung, namely PT Allo Bank Indonesia Tbk. (BBHI) posted a net profit for the current year of IDR 150.62 billion in the first semester of 2022. This achievement is up 557 percent compared to the same period last year.

In Allo Bank's financial report, quoted Monday, August 1, the net profit was achieved thanks to an increase in interest income by 108 percent year-on-year (yoy) to IDR 265.97 billion. At the same time, interest expense fell 34 percent to IDR 48.73 billion.

With these acquisitions, Allo Bank posted a net interest income (NII) of IDR 217.24 billion, an increase of 306 percent compared to last year's achievement of IDR 53.47 billion.

The soaring profit of Allo Bank was also accompanied by the disbursement of loans which increased by 205 percent year-to-date (ytd) to IDR 6.71 trillion. Meanwhile, the company recorded assets of IDR 9.7 trillion or grew 110 percent ytd.

Allo Bank's public fundraising performance is also in a positive trend, with third-party funds (DPK) growing 50 percent to IDR 3.19 trillion. Low-cost funds or current account saving accounts (CASA) reached IDR 209.5 billion, down 22 percent ytd.

In detail, collections reached IDR 22.85 billion, down 86 percent ytd, while savings rose 80 percent to IDR 186.7 billion. Meanwhile, deposits rose 61 percent ytd or IDR 2.98 trillion.