PT Bank BTPN Tbk recorded a net profit after tax (consolidation) in the first quarter of 2023 of IDR 805 billion. This number recorded an increase of 7 percent year-on-year (yoy) from IDR 752 billion the same period last year.
President Director of Bank BTPN Henoch Munandar said this net profit growth was mainly due to an increase in operating income by 3 percent and a decrease in credit costs by 4 percent yoy.
The increase in operating income was driven by an increase in interest income by 26 percent yoy in line with an increase in credit in the corporate segment and sharia financing and an increase in other operating income by 4 percent yoy.
"Bank BTPN succeeded in making net profit growth in the early quarter of 2023. This year's achievement will support Bank BTPN's good performance to continue to grow," he told the media, Wednesday, May 3.
Henoch further added that Bank BTPN also recorded growing credit demand. Credit in the corporate and small and medium enterprise segments increased by 7 percent yoy and 14 percent yoy, while Islamic financing grew by 11 percent yoy.
The total credit disbursed by Bank BTPN as of the end of March 2023 increased by 5 percent yoy to Rp149.90 trillion, from Rp142.37 trillion at the end of March last year.
Bank BTPN has also succeeded in maintaining good credit quality, as reflected in the ratio of non-performing loans (NPL) at the level of 1.38 percent at the end of March 2023, down when compared to the same period last year of 1.40 percent and still relatively low compared to the average recorded industry of 2.6 percent at the end of February 2023.
"We are also proud that the bank's positive performance is also supported by growing credit demand. Even so, we are always committed to continuing to prioritize the principle of prudence in every business decision," said Henoch.
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Meanwhile, credit costs decreased by 4 percent yoy to IDR 416 billion in the first quarter of 2023.
"Bank BTPN continues to monitor the credit quality of customers, manage credit restructuring, and maintain sufficient reserves for credit costs," he continued.
Then net interest income was observed to increase by 3 percent yoy to Rp2.94 trillion during the first three months of this year, from Rp2.85 trillion in the same period last year, supported by credit growth.
Meanwhile, interest expense has increased, mainly due to the increase in deposit interest rates and interest expense in foreign currencies as a result of the increase in the US Federal rate.
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