JAKARTA - PT Bank Tabungan Negara Tbk. (BTN) reported that the company managed to collect a net profit of IDR 2.37 trillion for the 2021 financial year. This number skyrocketed 48.3 percent compared to the 2020 period of IDR 1.6 trillion.
President Director of Bank BTN Haru Koesmahargyo explained that the company's funds could not be separated from the slick performance of the intermediation sector which grew 5.66 percent to IDR 274.83 trillion from the previous IDR 260.11 trillion in 2020.
“This loan growth was accompanied by a decrease in the ratio of non-performing loans (NPL) on a gross basis to the level of 3.70 percent in 2021. This is far less than the previous year, which was in the range of 4.37 percent. Likewise, the net NPL has improved from 2.06 percent in 2020 to 1.20 percent in 2021," he said in a virtual presentation on Tuesday, February 8.
According to Haru, credit growth has confirmed that the housing sector has proven to be quite resilient in weathering the economic crisis caused by the pandemic.
“Financing for home ownership continues to flow even though the purchasing power of consumers is relatively low. This is evident from the company's credit distribution, which grew higher than the average credit for the banking industry in the range of 5.24 percent," he said.
Haru added that various incentives provided by the government managed to maintain consumer purchasing power so that demand for housing loans continued to increase.
"We are optimistic that when the economy recovers and the pandemic passes completely, demand for mortgages can increase even higher," he said.
In detail, the boss of the housing specialist bank detailed that subsidized housing loans (KPR) were still the main support for growth with an increase of 8.2 percent year-on-year (yoy) to IDR 130.68 trillion. The increase in the distribution of subsidized mortgages makes BTN still dominate the share of subsidized mortgages by around 90 percent.
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Meanwhile, nationally, the bank, codenamed BBTN, controls a market share of around 40 percent. Meanwhile, non-subsidized mortgages also showed an increase at the level of 4.14 percent yoy to IDR 83.25 trillion.
For liquidity, the total third party funds (DPK) that have been collected reached IDR 295.98 trillion, an increase of 6.03 percent compared to the acquisition of 020 which amounted to IDR 279.14 trillion.
Of the total DPK, the composition of low-cost funds increased by 319 bps from 41.11 percent to 44.3 percent. This increase in the composition of low-cost funds makes BBTN's cost of funds until 2021 experience a significant decrease of 166 bps to 3.13 percent compared to 2020 which is still 4.79 percent.
"This shows the success of BTN in increasing the portion of low-cost funds," continued Haru.
Then, the Loan to Deposit Ratio (LDR) is relatively loose at 92.86 percent, improving from last year's position of 93.19 percent.
Just so you know, the current LDR space is bigger when compared to 2018 and 2019 which were 103.49 percent and 113.5 percent, respectively.
"This 2021 LDR is the lowest LDR in the last five years," he said.
"Through the transformation carried out by the company and the government's support with stakeholders related to the housing finance business, we are optimistic that we will be able to play an active role in supporting the One Million Houses Development program and fulfill our main task of providing housing, especially for low-income people and millennials," Haru concluded.
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