BCA, A Bank Owned By The Duo Hartono Conglomerate, Earned IDR 7 Trillion In Profit In The First Quarter Of 2021, What Did President Director Jahja Setiaatmadja Say?

BCA Building. (Angga Nugraha/VOI)

JAKARTA - PT Bank Central Asia Tbk (BCA) posted a net profit of IDR 7 trillion during the first quarter of 2021. This figure is an increase of 7 percent compared to the achievement in the same period last year.

President Director of BCA, Jahja Setiaatmadja, said that the strengthening of profits was driven by the economy gradually recovering from the pandemic, the total portfolio of corporate loans and bonds had been relatively stable since December 2020, reaching IDR 610 trillion as of March 31, 2021.

"This is supported by placements in corporate bonds which increased by 6.9 percent compared to the position in December 2020", said Jahja, Thursday, April 22.

Meanwhile, the bank owned by the Hartono brothers conglomerate posted positive credit growth in the corporate segment, supported by demand in the telecommunications industry, vegetable and animal oils, and plantations. Jahja said that the solid performance of BCA and its subsidiaries could not be separated from the support of customers, regulators, and all related parties in going through difficult times caused by the COVID-19 pandemic.

"Along with the government's stimulus to spur demand for consumer credit, the BCA Online Expoversary will be held in March 2021 to provide special offers for House ownership credit (KPR) and Motor Vehicle Credit (KKB) for the retail segment", he said.

According to Jahja, during one month of implementation, Expoversary recorded 1.2 million visitors and submissions of KPR and KKB applications valued at IDR 15 trillion and IDR 5 trillion, respectively.

This, he continued, is a signal that people's purchasing power is still in the market. Then, to support the economic recovery in the MSME segment, the company also held an online exhibition BCA UMKM fest which was attended by around 1.700 merchants who marketed more than 18.000 products to the domestic and export markets.

In line with BCA's commitment to increase financing, credit facilities for businesses increased by 6 percent. However, business activities that have not fully recovered have resulted in the facility being not fully utilized, resulting in a correction to BCA's total credit to IDR 586.8 trillion at the end of March 2021.

In terms of third-party funds, current accounts and savings accounts (CASA) increased by 15.4 percent to IDR 655.8 trillion, contributing to an increase in total third party funds by 14.6 percent to IDR 849.4 trillion. Meanwhile, time deposits increased by 12.2 percent to IDR 193.6 trillion.

"The strong growth in third-party funds has boosted total assets to grow 12.1 percent to IDR 1.090.4 trillion at the end of March 2021", said Jahja.