Up 15 Percent, BTN Earns IDR 3.5 Trillion Net Profit Throughout 2023

Bank BTN (Photo: dock. Antara)

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) recorded a net profit of up to IDR 3.5 trillion in 2023.

Capaiam rose 15 percent on an annual basis (year-on-year) compared to 2022 of IDR 3.04 trillion.

"One of the pillars of net profit is the increase in fee-based income," said BTN President Director Nixon LP Napitupulu quoting Antara.

Furthermore, Nixon said that BTN's fee-based income grew 60.1 percent year-on-year to IDR 3.2 trillion in 2023. Meanwhile, the ratio of non-performing loans (NPL) also continued to be suppressed. At the end of 2023, BTN managed to reduce NPL to 3.01 percent.

"The NPL trend, which used to be approximately 4.8 percent (in 2019), at the end of last year we had reduced it to 3.01 percent. Of course in 2024, we will enter the area below 3 percent of the NPL ratio," said Nixon.

In addition, the increase in net profit was also supported by the growth in lending and financing. BTN has disbursed loans and financing of IDR 333.69 trillion throughout 2023, an increase of 11.9 percent compared to the previous year of IDR 298.28 trillion.

Throughout 2023, BTN succeeded in disbursing loans and financing of IDR 333.69 trillion, an increase of 11.9 percent compared to the previous year. The growth in the credit and financing side exceeded the credit achievement disbursed by the national banking industry of 10.38 percent in 2023.

"Especially for mortgages, mortgages are the largest motorbikes to move the business engine performance of BTN banks. In total (subsidized and non-subsidized mortgages), our mortgages grew 10.4 percent. So this mortgage has first grown in total double digits after COVID-19," said Nixon.

BTN noted that the distribution of subsidized mortgages in 2023 increased 10.9 percent to Rp161.74 trillion compared to last year's Rp145.86 trillion. Meanwhile, non-subsidized mortgages in 2023 also grew by 9.5 percent to Rp96.17 trillion compared to Rp87.82 trillion in 2022.

"Especially this (KPR) is growing because of the many new initiatives in 2023, including forming sales centers in BSD, Kelapa Gading, and Surabaya. This year we will also add sales centers (in several cities)," said Nixon.