BCA Paylater Customers Reach 89,000, Total Loans IDR 185 Billion As Of March 2024

Illustration. (Photo: Doc. Antara)

PT Bank Central Asia Tbk or BCA noted that the number of buy now pay later (BNPL) service customers reached around 89,000 users as of the first quarter of 2024.

"We report that on a customer basis, there was a 70 percent growth, (from the position) in December 2023 which amounted to almost 52,500 to around 89,000 (in the first quarter of 2024)," Director of BCA Santoso during a virtual press conference in Jakarta, quoted from Antara, Tuesday, April 23.

In terms of outstanding loans, Santoso recorded an increase from Rp115 billion in December 2023 to Rp185 billion in March 2024. This amount means an increase of 61 percent compared to the end of 2023.

Meanwhile, the loan ceiling, added Santoso, also grew quite well by 51 percent compared to the end of 2023 which only amounted to Rp395 billion to Rp597 billion in March 2024.

Even so, Santoso emphasized that the most important thing to see is the quality of credit distributed. The quality of BCA's paylater credit was in the 0.47 percent position in March 2024.

"So it means that in terms of quality it remains prudent and good. This is just to show that we continue to maintain it because the quality with the growth of customers and portfolios is good," he said.

Overall, BCA and its subsidiaries recorded solid performance during the first quarter of 2024. This was shown from total credit growth of 17.1 percent yoy to IDR 835.7 trillion.

BCA also posted a net profit that grew 11.7 percent yoy to IDR 12.9 trillion. Meanwhile, in terms of funding, the total third party funds (DPK) rose 7.9 percent yoy to reach IDR 1,121 trillion as of March 2024.

In the first quarter of 2024, BCA's loan at risk (LAR) ratio was at 6.6 percent and the ratio of non-performing loans (NPL) was maintained at 1.9 percent. Meanwhile, the NPL and LAR reserve ratios are at a solid level, 220.3 percent and 71.9 percent, respectively.