North Sumatra Bank Performance In 2022, Profit Print IDR 706 Billion

Photo: Doc. Bank Sumut

JAKARTA - Closing the 2022 financial year, PT Bank Pembangunan Daerah Sumatera Utara Tbk (Bank Sumut Tbk) recorded a more solid performance by continuing to show significant business growth and trends in increasing financial performance.

Bank Sumut, an issuer with the stock code BSMT, managed to record a net profit of IDR 706 billion (unaudited) in December 2022, growing 15.15 percent (Year on Year/YoY) compared to the same period the previous year of IDR 614 billion.

In addition, Bank Sumut's assets also continued to increase to IDR 40.6 trillion until December 2022, compared to December 2021 of IDR 38.01 trillion.

Acting (Plt) President Director of Bank Sumut Hadi Sucipto stated that the company's profit growth was supported by business growth, which was marked by an increase in double-digit credit growth and improved credit collectibility, which was marked by a decrease in net non-performing loans (NPL) from 1.80 percent to 1.21 percent.

"All indicators of financial performance show positive results," said Hadi, Monday, January 9.

In December 2022, Bank Sumut managed to boost lending to IDR 27.8 trillion, up 10.58 percent (YoY) from IDR 25.1 trillion in December 2021.

Meanwhile, Bank Sumut was also recorded to have succeeded in collecting Third Party Funds (DPK) of IDR 31.9 trillion, an increase of 3.01% (YoY) from the December 2021 achievement of IDR 30.9 trillion.

Hadi added that the intermediation function of Bank Sumut and the company's role in driving the economy also showed satisfactory results marked by the portion of Productive Credit which reached 43.90 percent and the realization of People's Business Credit or KUR in 2022 which reached Rp1.35 trillion, 35 percent exceeded the original target of Rp1 trillion.

"The increase in the realization of productive credit, including the KUR achieved by Bank Sumut, shows the strong commitment of Bank Sumut to help move the economy of North Sumatra Province and prosper the community, especially after the easing of the COVID-19 pandemic," explained Hadi.

Hadi added that currently, public confidence in saving and transacting at PT Bank Sumut also shows a positive trend, which is marked by an increase in DPK and a blended cost of funds ratio which is also relatively low at around 2.22 percent.

Seeing the achievement of this performance, Director of Finance and Information Technology Arieta Aryanti said the Company was optimistic about the corporate action plan in early 2023. Bank Sumut's convincing financial performance can certainly increase Stakeholder's trust in the Company so that Bank Sumut can be more flexible in expanding to achieve the profit target of IDR 800 billion in 2023.

"Currently, Bank Sumut has obtained a preemptive statement permit from the OJK as of January 3, 2023 and is ready to immediately take the floor on the stock exchange in early 2023. For this reason, Bank Sumut plans to hold a Public Expose on Monday, January 9, 2023," explained Arieta.