Bank Allo's Profit Of Conglomerate Chairul Tanjung Drops 30.25 Percent In Semester I 2021

Chairul Tanjung conglomerate. (Photo: Doc. Antara)

JAKARTA - PT Allo Bank Indonesia Tbk, the company previously known as Bank Harda, recorded a net profit of IDR 22.92 billion in the first semester of 2021. However, this profit record fell 30.25 percent year on year (yoy) compared to the first semester of 2020 which is valued at Rp. 32.86 billion.

In Bank Allo's statement at the Indonesia Stock Exchange (IDX) information disclosure, quoted Wednesday, August 4, the decline in the profit of the bank owned by conglomerate Chairul Tanjung was inseparable from the increase in interest expense 23.61 percent yoy from Rp. 60.02 billion to Rp. 74.19 billion in the second semester. I 2021. Operating profit also fell by 29.04 percent yoy from IDR 33.57 billion to IDR 23.82 billion until June 2021.

In fact, Allo Bank's interest income grew 42.46 percent yoy from Rp. 89.61 billion to Rp. 127.66 billion in the first semester of 2021. This interest income was supported by income from loans of Rp. 52.70 billion, income from securities of Rp. 73. 60 billion, placements with Bank Indonesia Rp1.31 billion, and the remaining placements with other banks worth Rp53.06 million.

The total assets of issuers codenamed BBHI rose 63.23 percent to Rp.4.22 trillion in June 2021 from the position at the end of December 2020 of Rp.2.58 trillion. Acting President Director of Allo Bank Indonesia Ari Yanuanto Asah said the increase in total assets and liabilities would have an impact on the company's performance.

Because, he said, the increase in total assets was due to the purchase of securities amounting to Rp 1.83 trillion.

"The increase in total liabilities was due to a deposit placement of Rp. 750 billion from PT Mega Corpora as the controlling shareholder which would later be converted into capital after obtaining approval from the OJK and an increase in liability for repo securities of Rp.1.22 trillion," Ari explained.

The BBHI's financial performance ratio is still fairly under control in the first half of 2021. As reflected in the ratio of non-performing loans (NPL) to the bank's total net loans, it has decreased to 1.17 percent from the previous year's position of 3.50 percent.

Meanwhile, the Ratio of Operating Expenses to Operating Income (BOPO) was recorded to have increased by 82.65 percent until June 2021 from the same period in 2020 of 76.52 percent.