BTPN Distributes Rp186.56 Trillion Loans In The First Quarter Of 2024

Photo: Doc. Antara

PT Bank BTPN Tbk (BTPN) recorded that it had disbursed loans of IDR 186.56 trillion in the first quarter of 2024, growing 24 percent year-on-year (yoy) compared to the same period last year which amounted to IDR 149.90 trillion.

President Director of Bank BTPN Henoch Munandar said the credit increase included financing from PT Oto Multiartha (OTO) and PT Summit Oto Finance (SOF) which was only acquired at the end of March 2024.

"Bank BTPN will continue to strive not only to grow financially, but also to have a positive impact on the community through various public empowerment programs relevant to our society and customers," Henoch said in an official statement in Jakarta, quoted from Antara, Tuesday, April 30.

Henoch detailed that Bank BTPN organically posted an increase in lending outside the OTO Group by 8.5 percent (yoy), which was mainly driven by the corporate and commercial segments (9 percent), the MSME segment (18 percent), followed by the Jenius segment (154 percent) and the Joint Finance segment (607 percent).

Bank BTPN's assets grew by 18 percent yoy, from Rp204.00 trillion to Rp239.84 trillion at the end of March 2024.

In addition to increasing credit, Bank BTPN has also succeeded in keeping credit quality good. The company's gross non-performing loan ratio (NPL) is at the level of 1.83 percent as of the end of March 2024, lower than the industry average which was recorded at 2.4 percent at the end of February 2024.

In the midst of high interest rates, Bank BTPN's net interest income rose by 3 percent (yoy) to Rp3.02 trillion from Rp2.94 trillion.

The increase in net interest income contributed by interest income from credit encourages an increase in operating income (consolidation) by 1 percent (yoy), and Net Interest Margin (NIM) which is maintained at the level of 6.02 percent.

Bank BTPN's Current Account & Saving Account (CASA) recorded an increase of 25 percent (yoy) from IDR 39.57 trillion to IDR 49.27 trillion at the end of March 2024.

The CASA ratio also increased from 34.0 percent to 41.0 percent. Meanwhile, the total deposits decreased by 8 percent (yoy) to Rp71.00 trillion. Thus, the total third party funds (DPK) of Bank BTPN increased by 3 percent (yoy) from Rp116.37 trillion at the end of March 2023 to Rp120.27 trillion at the end of March 2024.

Furthermore, the Company can maintain liquidity and funding ratios at a healthy level, with a liquid cover ratio (LCR) reaching 233.6 percent and a net stable funding ratio (NSFR) of 115.7 percent as of March 31, 2024. The company recorded a strong capital adequacy ratio (CAR) of 27.8 percent.

However, net profit after the BTPN Bank (consolidation) tax attributable to owners of the parent entity was recorded at IDR 544 billion, which was 32 percent lower (yoy).

"This decline is due to an increase in costs in line with the growth in business volume and initiatives being carried out by banks, the higher credit reserves are in line with the growth in the amount of credit provided and the company's decision to increase credit reserves as a form of anticipation of the end of POJK's restructuring credit relaxation on March 31, 2024," explained Henoch.

Meanwhile, until the end of the first quarter of 2024, Jenius from Bank BTPN managed to record positive growth in the number of users by 21 percent to 5.5 million from 4.6 million in the previous period.

Total lending includes Flexi Cash, Digital Micro, Jenius Visa Credit Card, Paylater shows an increase from IDR 1.2 trillion to IDR 2.8 trillion. In addition, Jenius' third-party funds also grew by 13 percent to IDR 26.7 trillion.

Henoch added that support for Bank BTPN customers through the Daya program was again one of the important factors behind the company's positive performance in the first quarter of 2024.

The Daya program aims to increase customer capacity in all segments through four main pillars, namely financial literacy, self-capacity development, business capacity building, and sustainable life. Throughout January to March 2024, the number of beneficiaries of this program reached a total of 1.4 million beneficiaries, up 40 percent (yoy), through 2,765 activities, up 50 percent (yoy).

Bank BTPN will continue to prioritize sustainable financial services solutions for all segments, supported by leading digital technology, while integrating sustainability values at every step of our time. This initiative is a reflection of the core values that we hold firmly in every professional aspect of the company, including integrity, focus on customers, proactive and innovative, speed and quality, and synergy. We are ready to empower millions of Indonesian people to build a more meaningful life and provide more meaning to the nation's economy," he concluded.