JAKARTA - PT Bank Central Asia Tbk (BCA) managed to book a net profit of IDR 12.24 trillion in the first semester of 2020. This figure is down 4.8 percent compared to the same period last year which was IDR 12.86 trillion.
President Director of PT Bank Central Asia Tbk Jahja Setiaatmadja said, although net profit fell, profit before fees and taxes was able to grow positively because it was supported by lower cost of funds (CoF) and slowing growth in operating expenses.
"A solid profit before fees and taxes offsets an increase in provision costs in anticipation of a potential decline in credit quality," he said in a webinar, Monday, July 27.
Jahja continued that his party also managed to record high growth in third party funds in the first semester of 2020, which increased by 13 percent (year on year / yoy) to IDR 761.6 trillion.
This achievement in third party funds was supported by current and savings funds (CASA) which grew by 12.8 percent (yoy), reaching IDR 575.9 trillion and contributed 75.6 percent of total third party funds in June 2020.
"An extensive banking transaction network is a driving factor for the growth of CASA funds," he said.
Meanwhile, time deposits also grew by 13.6 percent (yoy) or Rp. 185.6 trillion with a healthy liquidity position, namely an LDR of 73.3 percent, so that they can anticipate various needs, especially during the pandemic period.
Then BCA is also able to maintain its capital in a solid position with the capital adequacy ratio (CAR) at the level of 22.9 percent amidst the challenges of the COVID-19 pandemic.
The ratio of non-performing loans (NPL) was 2.1 percent compared to 1.4 percent in June 2019 and BCA posted a return on assets ratio (ROA) of 3.1 percent and return on equity (ROE) of 15.6 percent in the first semester of 2020.
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