Economy Continues to Recover, BCA Owned by Hartono Brothers Conglomerate Pegs Double Digit Credit Growth

BCA building. (Photo: Doc. Antara/BCA)

JAKARTA - PT Bank Central Asia Tbk (BCA) hopes that this year's double-digit loan growth target can be achieved. This target is in line with the ongoing national economic recovery.

"We are upgrading this year's target. For credit growth from 6 percent to 8 percent, now from 8 percent to 10 percent for growth. Hopefully, we will achieve this target", said Finance Director of PT Bank Central Asia Tbk (BCA), Vera Eve Lim, in the Public Expose LIVE 2022 quoted by Antara, Wednesday, September 14.

In the first half of 2022, the Hartono brothers' total bank credit reached 13.8 percent (YoY), supported by an increase in various business activities in line with the easing of mobility restrictions.

Vera assessed that the government's efforts to boost the national economic recovery should be appreciated. From the beginning of the year when the economy began to open, the company became optimistic as reflected in the growth of BCA's business until the middle of this year.

"Because bank growth is a proxy for the economy. As of today, the position of credit grew by 13.8 percent. This year, if we can grow double digits of 10 percent, of course, that is an extraordinary performance and it cannot be separated from the support of government programs", said Vera.

As of the first semester of 2022, the issuer with the BBCA stock code managed to record a net profit of IDR 18 trillion in the first semester of 2022, an increase of 24.9 percent (YoY).

In terms of funding, current account saving accounts (CASA) or low-cost funds from savings and current accounts also rose 17.3 percent (YoY) to reach IDR 817.8 trillion as of June 2022, which contributed up to 81 percent of the total Third Party Funds (DPK).

The growth of CASA became the main support for the company's DPK achievement, which for the first time touched the milestone of IDR 1,000 trillion.

As of June 2022, total deposits grew 12.9 percent (YoY) to IDR 1,011 trillion, which also pushed BCA's total assets up 11.9 percent (YoY) to IDR 1,264.5 trillion.

Meanwhile, related to the impact of the increase in the benchmark interest rate of Bank Indonesia or the BI 7-Day Reverse Repo Rate by 25 basis points to 3.75 percent, Vera said the company had not adjusted the loan interest rate.

"So far we have not (raised). Maybe by the end of the year, hopefully, we can maintain the existing loan interest rates. We also hope that credit demand will continue to grow this year in line with the continuing economic recovery", Vera said.