J Trust Collaborates With Bank Kagawa, Fulfills Indonesia's Employment Financing Needs

Photo: Doc. Antara

JAKARTA - PT Bank J Trust Indonesia Tbk (J Trust Bank) signed a business partnership with Kagawa Bank Co Ltd (Kagawa Bank), one of which is in order to meet financing for the needs of Indonesian workers abroad.

"We are committed to uniting the strength and knowledge of Japanese standard banks to meet the needs of partners, including business expansion needs, business matching, and financing for the needs of Indonesian workers abroad," said J Trust Bank President Director Ritsuo Fukadai in an official statement in Jakarta, quoted from Antara, Wednesday, June 12.

Fukadai said that both parties were aware of the potential for high economic growth in Indonesia in line with the large population and the increasing number of middle-income people.

"This cooperation will open up wider business opportunities and improve the welfare of business actors, which in turn will help the economic growth of Indonesia and Japan," said Fukadai.

He believes this cooperation will contribute to solving local issues, such as excess workforce in Indonesia and at the same time Japan really needs workers.

After the COVID-19 pandemic, his party believes that Indonesian workers who want to work abroad, one of which is to Japan, will increase.

"We believe that using resources wisely and together this will revitalize Japan's economy and contribute to Indonesia's economic development," said Fukadai.

In the first quarter of 2024, J Trust Bank posted a net profit of IDR 44.02 billion, which was triggered by gross credit growth of IDR 26.10 trillion from the previous IDR 20.05 trillion or grew 30.15 percent year on year (yoy).

Third Party Funds (DPK) recorded growth to IDR 33.53 trillion in the first quarter of 2024, or an increase of 31.69 percent (yoy) compared to the previous IDR 25.46 trillion in the first quarter of 2023.

The company's credit growth pushed interest income to increase to IDR 724.54 billion in the first quarter of 2024, plus 29.56 percent (yoy) compared to the previous IDR 559.25 billion in the first quarter of 2023.