Welcoming Digitalization With Great Performance, Analyst: BJBR Stock Prospect Big Money!

Illustration. (Photo: Doc. Antara)

JAKARTA - Stock trading of banking issuers on the Indonesia Stock Exchange is projected to continue to generate cash until the end of the year. PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (BJBR) was no exception, which recorded a steady performance throughout the first semester of 2021.

No doubt, the bank's stock, which is now focusing on digitizing its services, is still considered very prospective to provide optimal returns for stock investors. As stated by CSA Research Institute Senior Analyst, Reza Priyambada.

He said BJBR's achievements illustrate that there are still growth opportunities even in the midst of the COVID-19 pandemic.

"In the first semester of 2021, BJBR bank mortgage loans recorded a growth of 12.5 percent year on year (yoy) to IDR 7.2 trillion, from the previous figure of IDR 6.4 trillion," said Reza to reporters, Wednesday 18 August.

Even Reza said that BJBR's performance was supported by credit requests from the public which were considered good.

"That's just from the growth of mortgages, not from lending to businesses and others so that it provides additional performance to BJBR," he said.

According to him, the entry of BJBR into the digitalization era can increase competition in the banking industry. Reza said that there will be healthy competition where the community will benefit from it.

The capital market observer said that banking services are now easier with digitalization, and the public as users can also feel the benefits.

"It is hoped that this digitalization can attract the public so that the distribution of BJBR customers will also increase, which in turn can improve BJBR's performance," he said.

Previously, PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (bank bjb/BJBR) focused on digitizing as a strategy to deal with change and disruption due to the pandemic.

President Director of bank bjb Yuddy Renaldi said the company has been developing digitalization through BJB Digi since early 2020 and has now provided benefits amid limited mobility. According to him, digitalization and the strong relationship between bank bjb and local governments contributed to the success of the digital transformation carried out.

According to him, digitalization and the strong relationship between bank bjb and local governments contributed to the success of the digital transformation carried out. This year bank bjb launched several new digital services that are growing rapidly, namely online lending for MSMEs to Quick Response Code Indonesian Standard (QRIS). Yuddy said that he had launched bjb LAKU as an online-based MSME credit access service.

With loans for MSMEs, which have been traditional, are now serving via digital. By submitting through an application and approval in one day, MSMEs can get capital quickly for their business.

Then, the use of bank bjb's QRIS also increased rapidly, in December 2020 the number of connected merchants was only 7,540 and now there are more than 154 thousand or an increase of 20 times. This also makes bank bjb's fee-based income increase by almost 6 percent in May 2021. He also targets that there are 1 million merchants connected to QRIS from bank bjb.

"The growth was significant, last year was still trying because it was just initiated and received support from OJK and BI, but now it has developed with many features. We have also collaborated with fintech," said Yuddy.

In addition to developing digital services, bank bjb also focuses on protecting the digital system built from cyber attacks. Even now, bjb tires have two coordinating divisions to handle IT and Digital Banking, which were originally only from business units.

"We see the importance of digitalization, and the importance of fee-based income from our digitization as a bank. Every new digital service must be protected as well as possible, we prepare a capital expenditure of around Rp. 850 billion in IT development and security of our service products," he said. .

Bank bjb now also has an anti-fraud system to monitor online services to all regions and branches that detect potential fraud. This feature was developed to detect early as the vulnerability of cyber attacks on digital systems. It also continues to educate customers to maintain the confidentiality of their pins and passwords, because these two things can be the beginning of fraud problems in banking services.