Bank Mega Owned By Conglomerate Chairul Tanjung Earns Rp1.56 Trillion Profit In Semester I 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Bank Mega Tbk recorded a net profit growth of 32 percent (year on year/yoy) in the second quarter of 2021 to Rp1.56 trillion compared to the achievement of the same period last year of Rp1.18 trillion.

Bank Mega President Director Kostaman Thayib said the profit growth was contributed by net interest income which rose by 23 percent (yoy) to Rp2.4 trillion compared to the same position the previous year of Rp1.98 trillion.

"In addition to net interest income, other factors that contributed to the increase in Bank Mega's profit were obtained from a decrease in bank operating costs by 9 percent yoy from Rp. 1.7 trillion to Rp. 1.54 trillion as a result of the bank's efficiency and digitization program," said Kostaman in his statement was quoted from Antara, Saturday, July 31.

In June 2021, the total assets of the company owned by the conglomerate Chairul Tanjung increased by 3 percent (year to date/ytd) to Rp115.87 trillion compared to the December 2020 position of Rp112.2 trillion.

Bank Mega also recorded growth in the collection of Third Party Funds by 6 percent (ytd) to Rp84.07 trillion compared to the December 2020 position of Rp79.19 trillion.

This was contributed by savings which grew by 7 percent (ytd) to Rp14.73 trillion and time deposits which also grew by 7 percent (ytd) to Rp60.83 trillion.

In the midst of economic challenges that are still affected by the pandemic, Bank Mega has succeeded in disbursing loans, which until June 2021 grew by 8 percent (ytd) to Rp52.46 trillion compared to the December 2020 position of Rp48.49 trillion.

The credit distribution was contributed by an increase in corporate loans by 16 percent (ytd) to Rp30.29 trillion compared to the December 2020 position of Rp26.21 trillion and commercial loans which grew by 3 percent (ytd) to Rp2.28 trillion.

Kostaman said, the company managed to carry out operational efficiency through digital innovation and automation well. This is reflected in the improvement in the ratio of Operating Expenses to Operating Income (BOPO), which was recorded in the second quarter of 2021 that it managed to fall to 62.05 percent, much better when compared to the same position in the previous year of 70.18 percent.

The issuer with the stock code MEGA also managed to record an improvement in the capital adequacy ratio or CAR in the second quarter of 2021 to 27.31 percent compared to the same position the previous year of 25.34 percent.

"Loan growth was also followed by good quality, where in the second quarter of 2021 gross NPL was recorded to have fallen to 1.26 percent from the same position in the previous year of 1.56 percent," said Kostaman.

The bank's success in earning profits is also reflected in the asset return ratio or ROA where in the second quarter of 2021 it was recorded at 3.45 percent, an increase compared to the same position in the previous year of 2.93 percent.

Meanwhile, the return on equity ratio (ROE) was 19.13 percent, an increase compared to the same position in the previous year of 15.88 percent.