JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) recorded a net profit of IDR 3.04 trillion as of December 31, 2022.
Bank BTN President Director Haru Koesmahargyo said the profit was recorded to have increased by 28.15 percent year-on-year (yoy) from IDR 2.37 trillion in the same period in 2021.
"We continue to strive to continue to provide the best results in the midst of this conducive economic situation. The goal is that we can continue to support the Government in providing affordable and habitable access to financing for the people of Indonesia," Haru explained at the Performance Press Conference as of December 31, 2022 in Jakarta, Thursday, February 16.
He further said that the increase was also supported by credit growth, improving business processes and credit quality, as well as increasing deposits.
He continued, credit and financing that grew solidly became the pillars of Bank BTN's net profit.
The company's financial statements recorded credit and financing grew by 8.53 percent yoy from Rp274.83 trillion to Rp298.28 trillion as of December 31, 2022.
Home ownership loans (KPR) are still the largest motorcycle for BTN Bank business movements. In total, mortgages at Bank BTN grew 9.23 percent yoy to Rp233.68 trillion as of December 31, 2022.
In this segment, KPR Subsidy grew 11.61 percent yoy to IDR 145.86 trillion at the end of 2022. With this performance, Bank BTN is recorded to still lead the Subsidized KPR market with a share of 83 percent.
Bank BTN juga berhasil meningkatkan Dana Pihak Ketiga (DPK) sebesar 8,77 persen yoy dari Rp295,97 triliun menjadi Rp321,93 triliun per 31 Desember 2022.
The increase in the DPK was driven by an increase in the company's current account saving account (CASA) by 19.13 percent yoy to IDR 156.2 trillion at the end of December 2022. With this increase, the company's cost of funds fell 53 basis points (bps) yoy from 3.13 percent at the end of 2021 to 2.60 percent.
The decrease in the cost of funds also contributed to the lower interest expense (interest expenditure) to 14.94 percent yoy at the end of last year.
With the positive performance of credit and DPK, bank assets focusing on financing people's houses also rose 8.14 percent yoy from IDR 371.86 trillion to IDR 402.14 trillion as of December 31, 2022.
"The business growth is also balanced by strengthening capital, improving quality and increasing reserves, so that the BTN Bank business is expected to continue to grow sustainably," Haru said.
Meanwhile, with the addition of capital from the Government, the tier 1 capital adequacy ratio (CAR) of Bank BTN reached 16.13 percent, an increase of 233 bps as of December 31, 2022.
Then, improving the business process helped reduce the gross credit ratio (NPL) of Bank BTN by 32 bps yoy to 3.38 percent.
Bank BTN's coverage ratio also continued to increase by 1,383 bps yoy to 155.65 percent as of December 31, 2022.
As of December 31, 2022, the loan to deposit ratio (LDR) of Bank BTN also remained stable at the level of 92.65 percent.
In addition, the liquidity adequacy ratio is at a healthy level of 238.50 percent.
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