Chairul Tanjung Mau's Conglomerate Bank Mega Holds Performance Public Expose On February 25, 2022, Approximately How Much Profit?

JAKARTA - The banking company belonging to the conglomerate Chairul Tanjung, PT Bank Mega Tbk (MEGA) will hold a public presentation of the company's financial performance for the period 2021 on February 25, 2022.

In the disclosure of information on the Indonesia Stock Exchange (IDX), quoted on Saturday, February 12, the company will hold a public expose at 10.00 WIB until it is finished via the Zoom application.

As an illustration, until the third quarter of 2021, the bank owned by tycoon Chairul Tanjung or CT posted a net profit growth of 43 percent on an annual basis (year-on-year/yoy) or from Rp. 1.76 trillion to Rp. 2.53 trillion.

Meanwhile, profit before tax increased by 42 percent on an annual basis (yoy) to IDR3.14 trillion compared to the achievement of the same period last year, IDR2.21 trillion.

Bank Mega President Director Kostaman Thayib explained that profit growth was supported by net interest income which rose 25 percent yoy to Rp3.71 trillion. The acquisition in the same period last year was Rp.2.97 percent.

Another contributor was the growth of fee-based income by 6 percent yoy, or from Rp. 1.64 trillion in the third quarter of 2020 to Rp. 1.73 trillion this year. In addition, the decrease in bank operating costs by 3 percent also contributed to the increase in profit.

"This shows the success of Bank Mega in implementing efficiency programs and digital transformation," said Kostaman.

In September 2021, Bank Mega's total assets for the current year (year-to-date/ytd) reached Rp119.77 trillion. This number increased by 7 percent when compared to the position in December 2020 which recorded assets of IDR 112.20 trillion.

The collection of third party funds (DPK) recorded an increase of 8 percent ytd to Rp85.83 trillion. This achievement was contributed by savings and time deposits, which recorded an increase of 11 percent and 10 percent, respectively.

Along with the recovery of the Indonesian economy, Bank Mega was also able to increase lending by 11 percent ytd to Rp53.94 trillion. Corporate credit is the supporter of this growth with the achievement of IDR 32.74 trillion or a growth of 25 percent ytd.