Followed By OJK, Bank Neo Commerce Willfill Core Capital In November 2022

President Director of PT Bank Neo Commerce Tbk, Tjandra Gunawan. (Photo: Doc. Antara)

JAKARTA - PT Bank Neo Commerce Tbk (BNC) stated that the Core Capital Fulfillment Process as required by the OJK will be achieved in November 2022.

Santer reported that several banks have not fulfilled the core capital of IDR 3 trillion in accordance with the provisions of the Financial Services Authority Regulation (POJK) Number 12/POJK. 03/2020.

President Director of PT Bank Neo Commerce Tbk, Tjandra Gunawan said, BNC is currently in the process of increasing capital with Pre-emptive Rights (PMHMETD) or Rights Issue.

"The process is still ongoing according to schedule and is currently awaiting approval from the Financial Services Authority (OJK)," he told the media, Wednesday, November 9.

He added that the funds obtained from Right Issue will be used by BNC to strengthen core capital, as well as for working capital for the development of the Company's Business, among others, in the form of lending and other banking operational activities.

Ahead of the implementation of the Right Issue, BNC showed more impressive growth, especially in the third quarter of 2022.

"BNC also continues to develop its business, namely by actively issuing products and features in the neobank application, which can be the answer to the problems faced by the community," continued Tjandra.

The new products and features include futures savings features (Neo Wish), gold investment features (Neo Gold), and loan features (Neo Loan).

BNC's consistency in in introducing various innovative products and features certainly has an impact on improving the Company's performance indicators. This is reflected in the financial statements in the third quarter of 2022.

In terms of Fee Based Income BNC in the third quarter of 2022, it increased by 342.03 percent to Rp254.1 billion compared to the third quarter of 2021 which was only Rp57.49 billion.

Meanwhile, in terms of lending, in the third quarter of 2022, BNC recorded a significant increase in total credit, which was Rp. 8.9 trillion as of September 2022, or an increase from Rp. 3.84 trillion (131.77 percent) compared to the same period last year.

As a result, in the first nine months of 2022, BNC's net interest income grew significantly, amounting to 350.78 percent or to Rp1.089 trillion.

Furthermore, the increase in Fee Based Income and net interest income in the third quarter of 2022, made BNC record a profit of IDR 10.1 billion as of September 2022.

Thus, BNC's net loss in September 2022 was eroded to IDR 601.2 billion, from IDR 611.3 billion in the previous period. BNC estimates that by the end of 2022 the net loss rate will experience a further decline.

"Currently we have completed the registration process for the implementation of the rights issue in the context of fulfilling core capital, and are waiting for approval from the OJK, so that the fulfillment of BNC's core capital will be achieved at the end of this November," he said.

"BNC as a Commercial Bank and also a Public Company, of course, is committed to always complying with applicable regulations and laws, including the obligation to fulfill core capital. From a business perspective, we have also managed to record a profit which in the third quarter of 2022 BNC managed to record a profit of Rp. 10.1 billion. This is a good indication for the future performance of BNC," he concluded.