BTN Optimists Can Capai Business Targets Despite Global Economic Gejolak

BTN Bank Building. (Photo: Doc. LinkAja)

JAKARTA - PT Bank Tabungan Negara (BTN) Tbk is optimistic that it can achieve business targets that have been set for this year, even in the midst of both domestic and global economic turmoil. Director of Risk Management Bank BTN Setiyo Wibowo said the company had carried out various mitigation measures, including anticipating an increase in the Federal Reserve (Fed) interest rate as well as an increase in fuel prices. "We have carried out various mitigation strategies in the form of prudent efficiency and lending so that our performance is on-track and until the end of the year there has been no change in the Bank's Business Plan," he said in a statement in Jakarta, quoted from Antara, Friday 9 September. Setiyo said the company had also improved the business process and implemented a better consumer segmentation strategy. In addition, the issuer with the stock code BBTN improves in terms of funding costs (Cost of Fund/CoF). "In the past year, Bank BTN has lowered the CoF by around 120 basis points so this improves interest offerings to our customers," he said. Bank BTN juga masih optimistis melihat pertumbuhan ekonomi ke depan, terutama di tengah penanganan pandemi yang semakin terkendali. Menurutnya, kebutuhan masyarakat terhadap rumah pun masih terus menunjukkan peningkatan. "We estimate that with the economy and pandemic being under control and improving, and several sectors have returned to normal, credit will remain on target. The initial target will grow in the range of 9-10 percent," said Setiyo. Until May 2022 BTN earned a net profit of IDR 1.06 trillion as of May 2022, up 47 percent compared to the same period last year of IDR 716.44 billion with the largest contributor to the largest increase in net interest income of IDR 5.9 trillion as of May 2022, an increase of 25.95 percent (yoy) from IDR 4.68 trillion in the same month last year. Meanwhile, the increase in net interest income was supported by a successful interest expense of 28.95 percent (yoy) from Rp5.8 trillion in May 2021 to Rp4.12 trillion in May 2022. The investment finance specialist bank assets reached Rp374.27 trillion, an increase of 4.25 percent (yoy) from Rp359 trillion. The increase was driven by credit positions and Third Party Funds (DPK) which increased by 6.33 percent (yoy) and 7.56 percent (yoy), respectively.