Bank Jatim Profit Slightly Increases To IDR 310 Billion In The First Quarter Of 2024

Board of Directors of Bank Jatim (Photo: Maria Trisnawati/VOI)

JAKARTA - PT Bank Pembangunan Daerah Jawa Timur Tbk (bankjatim) posted a net profit of 3 months in early 2024 of IDR 310 billion. This achievement increased 1.52 percent compared to the same period the previous year at IDR 305 billion.

Meanwhile, BJTM assets grew by 4.37 percent yoy or Rp100.8 trillion with the dominant contribution from increasing productive assets, namely lending increased by 18.76 percent yoy, DPK management increased 2.34 percent yoy with the largest contribution coming from savings types which grew 13.06 percent yoy, and the management of the company's assets resulted in net interest income which grew 6.44 percent yoy.

"The growth of the DPK occurred due to THR disbursement which had implications for increasing outstanding savings. Then net profit for 3 months at the beginning of 2024 managed to grow to Rp. 310 billion," said BJTM President Director Busrul Iman at a press conference in Jakarta, Monday, April 29.

Busrul said that the East Java bank in the first quarter of 2024 was able to record credit growth of 18.76 percent yoy.

This figure is above the national average growth of only 12.40 percent yoy with a consumptive credit composition of IDR 31.3 trillion, an increase of 7.40 percent yoy and productive credit of IDR 25.6 trillion, an increase of 36.34 percent yoy.

The credit growth results cannot be separated from the transformation strategy that has been implemented since 2023.

Kami akan terus menambah tenaga Account Officer untuk meningkatkan pertumbuhan kredit pada sektor produktif. Sedangkan untuk kredit konsumtif yang menjadi captive market tetap akan dipimiksi melalui momentum penerimaan tenaga ASN dan P3K, momen libur Idul Fitri, serta peningkatan pertumbuhan kredit dari sektor properti untuk peningkatan penyaluran kredit konsumtif, ungkapnya.

The increase in the productive credit sector was supported by high growth, especially from the micro segment which shot up 36.63 percent yoy, the retail and medium segments which grew by 58.40 percent yoy, and the corporate segment rose 17.97 percent yoy.

The increase in credit that has been achieved by the bank of East Java has made the company's financing ratio (LDR) improve. The LDR ratio in the first three months of 2024 is at 70 percent.

Bankjatim credit disbursement was also followed by improvements in loan quality. It can be seen from Gross Bankjatim's Gross Non Performing Loan (NPL) ratio which was sloping. Namely at 3.03 percent in the first quarter of 2023 to 2.82 percent in the first quarter of 2024.

"This means that the quality of bankjatim credit is getting healthier and is a sign of recovery from several economic sectors," concluded Busrul.