Having 10 Million Customers, SeaBank Earns IDR 241.47 Billion Profit

Illustration (Photo: Doc. ANTARA)

PT Bank Seabank Indonesia (SeaBank) has again recorded positive financial performance throughout 2023 based on annual financial reports released on the company's website.

SeaBank's operating profit jumped from IDR 62.8 billion at the end of 2022 to IDR 288.97 billion in 2023. A significant increase was also seen from the company's gross profit which rose from IDR 59.54 billion in 2022 to IDR 308.78 billion in 2023, while net profit in 2023 was recorded at IDR 241.47 billion. The increase in gross profit was influenced by an effective and efficient bank business strategy.

President Director of SeaBank Indonesia, Sasmaya Tuhuleley, said that SeaBank's success in 2023 indicates that SeaBank Team's performance is getting better, so that the company's productivity can be in a positive trend.

We are grateful for what we have achieved in 2023. However, we do not want to be complacent, and will continue to focus on working in 2024. This is the result of the hard work of the SeaBank Team, as well as the increasing support for customers' trust. Thank you," said Sasmaya, Thursday, April 4.

With a survey the underserve vision, SeaBank focuses on serving people who have not been served by financial services, including lending. SeaBank mostly serves retail credit and individual needs which are considered more risky and with a long period of time, as well as small nominal loans such as paylaters and cash loans without other collateral.

Sasmaya explained that the impact SeaBank needs to provide reserves (provision) to deal with the risk of losses, as part of the principle of bank management caution.

"A large reserve does not mean an emergency level of SeaBank is high, but it is to face risks in the future such as economic worsening and others," he continued.

In 2023 SeaBank was proven to have distributed credit by prioritizing the precautionary principle, this can be seen from the SeaBank ratio of non-performing loans (NPL) which fell from 2.03 percent in 2022 to 1.77 percent in 2023. SeaBank credit distribution growth was also recorded at 13 percent, or above the market average of 10.8 percent.

In terms of funding, SeaBank managed to increase the amount of low-cost funds or current account saving accounts (CASA) by 3.47 percent yoy or IDR 12.67 trillion in 2023.

SeaBank terus berkomitmen dengan visi serve the underserve. Tapi kami juga konsisten memegang prinsip kehatihan-hatitan. Sehingga hasil NPL kami turun, dan juga CASA kami naik. Clear Sasmaya

Another achievement achieved by SeaBank is the number of customers who broke a new record. Since officially operating in 2021 until the end of 2023, SeaBank has managed to collect 10 million customers throughout Indonesia from the islands of Sumatra to Papua.

In terms of products, the SeaBank application also gets a high rating of 4.9 on the Apps Store and Google Play Store which is defined as a good experience for customers while using the SeaBank application.

Throughout 2023, SeaBank also noted that there are an average of 2.5 million daily transactions carried out by customers.

The number of transactions consists of transfers from others and between banks, bill payments, to transaction payments with the QRIS feature.

Very grateful that until the end of 2023 we recorded a record 10 million customers. I think this clearly indicates that customer trust in us continues to increase because SeaBank products and services are proven safe and reliable concluded Sasmaya.