Bank Ina, Company Owned By The Conglomerate Anthony Salim, Profit Jumped 506 Percent In Q1 2021

Illustration. (Irfan Meidianto/VOI)

JAKARTA - PT Bank Ina Perdana Tbk posted a net profit of IDR 13.17 billion in the first quarter of 2021. The achievement of Bina-coded banks jumped 506.91 percent year on year (YoY) compared to the same period last year worth IDR 2.17 billion.

Quoted from the financial report published on the Indonesia Stock Exchange (IDX) page, Monday, May 10, the performance of the company owned by conglomerate Anthony Salim was supported by operating profit growth that skyrocketed 445.26 percent YoY from IDR 3.27 billion to IDR 17.83 billion in March 2021.

The bank, which was officially acquired by Salim Group in early 2020, posted a net interest income of IDR 47.86 billion in the first quarter of 2021. The value grew 12.51 percent YoY compared to the same position last year of IDR 42.54 billion.

Bank Ina's lending during the first quarter of 2021 increased 7.75 percent YoY from IDR 2.58 trillion to IDR 2.78 trillion. Meanwhile, third-party funds (DPK) increased significantly from IDR 3.78 trillion to IDR 9.33 trillion.

The loan-to-deposit ratio (LDR) increased to 29.77 percent in the first quarter of 2021. Whereas the same position last year was still 68.24 percent.

Meanwhile, the capital adequacy ratio (CAR) remained solid at 37.01 percent in March 2021, down slightly from March 2020 at 37.84 percent.

Despite the credit growth, Bank Ina was able to maintain credit quality with gross non-performing loans (NPL) at 1.51 percent in the first three months of this year. That improved compared to NPL gross at the same position last year at 1.71 percent.

Nevertheless, the net interest margin (NIM) was pressured to 2.03 percent in March 2021. Whereas in March 2020, NIM Bank Ina reached 3.53 percent

For information, Bank Ina Perdana, 22.47 percent of its shares are owned by Anthony Salim through Salim Group. While 18.29 percent of Bank Ina's shares are owned by Liontrust ASEAN Financials Fund.