BJB Able To Maintain Sustainable Business Performance Until The Third Quarter Of 2024

President Director of Bank BJB Yuddy Renaldi (center). (Photo: Doc. ANTARA)

JAKARTA PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (Bank BJB) hingga kuartal III 2024 mampu menjaga kinerja yang berkelanjutan di tengah tantangan ekonomi nasional dan global.

President Director of Bank BJB Yuddy Renaldi said that his party managed to maintain stable business growth in the first nine months of this year.

This is driven by banking service innovation and a solid business diversification strategy.

Bank BJB's main focus, Yuddy continued, is maintaining healthy growth through the development of digital services, optimizing credit portfolios, and strict risk management to ensure business operations remain strong and stable.

In the midst of a dynamic economic situation, Bank BJB has also implemented a digital innovation strategy that allows access to banking services more quickly, safely, and comfortably for customers.

In addition to developing digital services, Bank BJB also strengthens its position in supporting productive sector financing.

On a consolidation basis, Bank BJB shows solid financial performance. Total assets increased by 17.1 percent year on year (yoy) to Rp210 trillion.

Third Party Funds also grew 17.1 percent yoy, reaching IDR 153.2 trillion.

Meanwhile, credit, including financing, increased 10.4 percent yoy to IDR 138 trillion.

Efficiency in operations and optimization of fee-based income managed to maintain profit before the consolidation tax of IDR 1.47 trillion and profit after tax of IDR 1.16 trillion.

In terms of bank only credit, Bank BJB recorded credit growth of 4.3 percent yoy to Rp121.5 trillion with the main contribution from the consumer credit segment which grew 6.8 percent yoy to Rp73.1 trillion.

The consumer credit segment is still the main support for Bank BJB's performance, with a market share of 29 percent among first aiders in West Java and Banten.

At the end of September, the number of P3K debtors increased significantly with more than 54,000 employees who became BJB Bank customers, showing the potential market is still large in this segment.

In terms of Third Party Funds (DPK), Bank BJB managed to increase the current account saving account (CASA) ratio by 2.2 percent to 44.9 percent, reflecting the company's commitment to maintaining cost of funds at the level of 4.7 percent.

This helps Bank BJB take advantage of the momentum of lowering the benchmark interest rate in order to reduce the cost of funds.

Bank BJB's Net Interest Margin (NIM) was recorded at 3.8 percent, with Non-Performing Loan (NPL) at a level of 1.53 percent supported by the Coverage Ratio above 100 percent.

Bank BJB's capital ratio (CAR) is also maintained at the level of 19.4 percent, with the plan to issue Perpetual Securities to strengthen Tier's capital 1.

Bank BJB continues to encourage the application of ESG principles in its business activities.

As of September 2024, Bank BJB's sustainability portfolio reached IDR 18.2 trillion, equivalent to 15 percent of the total credit portfolio.

This 15.1 percent increase was channeled to various environmentally friendly sectors, MSME financing, and environmentally friendly transportation.

In the fourth quarter of this year, Bank BJB plans to issue Sustainable Bonds worth IDR 1 trillion to strengthen sustainability funding.

In the future, the company will continue to strive to strengthen its position to become the bank's main choice by focusing on innovation, digitization, and improving service quality, while still prioritizing the principle of prudence, as an important asset for the Company in facing future challenges, as well as strengthening the Company's position as a trusted and future-oriented financial institution.