Up 11.7 Percent, BCA Earns IDR 12.9 Trillion Net Profit In The First Quarter Of 2024

BCA (Photo: Antara)

JAKARTA - PT Bank Central Asia Tbk (BBCA) posted a net profit of IDR 12.9 trillion or an 11.7 percent jump during the first quarter of 2024.

This increase in net profit was supported by an increase in total credit by 17.1 percent on an annual basis (yoy) to IDR 835.7 trillion as of March 2024.

This growth is also supported by the expansion of disbursed financing, consistent improvement in loan quality, and increased volume of transactions and funding.

"We see optimism that public consumption, especially during this year's Ramadan and Eid al-Fitr periods, will also have a positive impact on BCA credit disbursement until March 2024. Consumer credit interest is well maintained, as reflected in the high enthusiasm of BCA Expoversary 2024 visitors," said BCA President Director, Jahja Setiaatmadja in an online press conference, Monday, April 22.

Meanwhile, in terms of funding, the total third party funds (DPK) rose 7.9 percent yoy touched IDR 1,121 trillion as of March 2024. The demand fund and savings (CASA) grew by around 7.3 percent to reach IDR 904.5 trillion. CASA's solid growth is in line with the total volume of BCA transactions which rose 20.8 percent yoy reached IDR 8.3 billion in the first quarter of 2024.

Especially on digital channels, BCA's mobile banking and internet banking transaction volume reached 7.2 billion, up 23.5 percent yoy.

Overall, BCA managed to maintain sustainable profitability. BCA's net interest income (NII) during the first quarter of 2024 reached IDR 19.8 trillion, growing 7.1 percent on an annual basis.

Then, income other than interest rose 6.8 percent to IDR 6.4 trillion. In total, operating income reached IDR 26.2 trillion, an increase of 7 percent yoy in the first quarter of 2024.

The cost to income ratio is maintained at the level of 32.4 percent. In addition, along with the increase in asset quality, BCA's provision costs fell 29.8 percent yoy, contributing to BCA's profit growth.