Bank Artha Graha, A Company Owned By The Conglomerate Tomy Winata Earned IDR 21.37 Billion Profit In 2020

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Bank Artha Graha Internasional Tbk released its 2020 financial performance. Bank Artha Graha was finally able to turn around profit in 2020, from the previous year's loss.

Quoted from Bank Artha Graha's financial report published on the Indonesia Stock Exchange website, Monday, May 30, the net profit of the company owned by the conglomerate Tomy Winata was recorded at IDR 21.37 billion in the period of December 31. 2020. Meanwhile, in the period of December 31, 2019, there was a loss of IDR 58.35. billion.

Net interest income did fall, from IDR 927.93 billion in 2019 to IDR 631.74 billion in 2020. However, the company recorded income from recovering the allowance for impairment losses of IDR 149.77 billion.

This makes operating expenses other than a net interest to be reduced to IDR 587.26 billion. From here, operating profit was formed of IDR 44.49 billion in 2020, from 2019 it recorded a loss of IDR 104.53 billion.

The total assets of Bank Artha Graha increased by 19.63 percent yoy, from IDR 25.53 trillion as of December 31, 2019, to IDR 30.53 trillion as of December 31, 2020.

For information, the improving performance of Bank Artha Graha also has an impact on the increase in the stock price of INPC in the market. The share price of PT Bank Artha Graha Internasional Tbk (INPC) closed up 34.86 percent to IDR 236 on Monday, May 31 trading.

INPC shares are traded in the price range of IDR 171-Rp.236. The transaction value reached IDR 68.67 billion and the trading volume was 360.06 million shares.

INPC shares became the winner among the rows of stocks with the highest price increases until they experienced top auto-reject (ARA).