Bank OCBC NISP Net Profit Increases 65.8 Percent In The First Quarter Of 2023

Bank OCBC NISP Net Profit Increases 65.8 Percent In The First Quarter Of 2023

JAKARTA - Bank OCBC NISP posted an increase in net profit of 65.8 percent compared to the same period last year (year-on-year/yoy) from IDR 621 billion in the first quarter of 2022 to IDR 1.03 trillion in the first quarter of 2023.

The increase in net profit was achieved thanks to the solid performance of Bank OCBC NISP in the first three months of 2023 with the implementation of a consistent and sustainable business strategy, accompanied by the company's digital optimization.

"In an increasingly improving economic situation, we are consistent in maintaining sustainable growth and moving wisely in the future," said Bank OCBC NISP President Director, Surjaudaja in an official statement in Jakarta, Friday.

Bank OCBC NISP's profit growth was also driven, among others, by an increase in net interest income by 25.3 percent (yoy) from Rp1.95 trillion to Rp2.45 trillion and a decrease in the loss reserve expenses by 51.3 percent (yoy) from minus Rp575 billion to Rp280 billion.

In the same period, Bank OCBC NISP also posted an increase in total credit of 11.6 percent (yoy) from Rp123.3 trillion to Rp137.6 trillion. Bank OCBC NISP's lending is always accompanied by maintained quality, where the gross credit level (Non Performing Loan/NPL Gross) is at the level of 2.4 percent.

Parwati said that further, her party will focus on continuing to develop inclusive financial services. However, Bank OCBC NISP is still careful in seeing the changes that occur, including paying attention to national and global economic conditions, trends in benchmark interest rates, and inflation that occur regularly.

The company also continues to accelerate and transform the capabilities and capabilities of banks, including in terms of digitization to deliver innovations and initiatives relevant to individual customer needs through ONe Mobile, an application that can grow money and for corporate customers through Velocity@ocbcnisp.

Individual customer digital activity through ONe Mobile Bank OCBC NISP recorded an increase of 54 percent (yoy) in the first quarter of this year.

In the corporate business segment, he said, Bank OCBC NISP recorded an increase in Velocity users by 17 percent (yoy), which showed that more and more corporate customers liked the integrated digital channel so that the business could run smoothly.

Furthermore, Bank OCBC NISP consistently runs a sustainable business by channeling sustainable financing in the form of environmentally and gender-based credit.

As of March 31, 2023, Bank OCBC NISP distributed loans through the #TAYTB Women Warriors program with an increase of 9.6 percent (yoy). Meanwhile, the number of female entrepreneurs increased by 12.5 percent (yoy).