After Being Acquired By Conglomerate Chairul Tanjung, Harda Bank Immediately Prints Rp. 37 Billion Profit

Harda International Bank Building. (Photo: Harda Bank)

JAKARTA - PT. Bank Harda Internasional Tbk can finally record a profit in 2020. In the previous two years, the bank coded BBHI shares always recorded a loss.

As quoted from the financial report published on the Indonesia Stock Exchange page, Thursday, April 15, the bank, which is currently owned by the conglomerate Chairul Tanjung, made a profit of Rp. 37 billion. Two years earlier, Bank Harda lost Rp. 37 billion in 2019, and Rp. 123 billion in 2018.

Bank Harda recorded a decrease in net interest income, from Rp. 86 billion to only Rp. 43 billion. However, the company received additional from the return of backup costs to revenues in the last year worth Rp. 83 billion.

Meanwhile, Bank Harda's credit stood at Rp. 1.27 trillion, down 23.5 percent from Rp. 1.66 trillion. Third-party funds (DPK) were recorded at Rp. 1.46 trillion, down 25.8 percent from Rp. 1.97 trillion.

Bank Harda management considers that the global and domestic economic outlook will be better in 2021 compared to the previous year, supported by pandemic control measures and vaccine distribution plans. In line with the global recovery, Indonesia's economy is expected to recover and grow by 4.5 percent to 5.5 percent by 2021.

However, there are still risks and challenges this year to watch out for, mainly due to the high number of cases of viral infection at the beginning of the year.

The high risk of uncertainty encourages banks to prioritize asset quality and continue to strengthen capital. Mobility restrictions that occur due to the COVID-19 pandemic, can be the right momentum to accelerate the transformation of banking services towards digitalization.

"We believe in new opportunities to transform digital-based banking services," Bank Harda management wrote in the financial statement.

For information, Bank Harda has been officially owned by PT. Mega Corpora, the company of the "cassava subsidiary" Chairul Tanjung. The number 4 richest person company in Indonesia narrowed to 3.08 billion shares or 73.71 percent of the number of shares placed and paid by Bank Harda from PT. Hakimputra Perkasa, the previous owner of Bank Harda.