Growing 16 Percent, BTPN Earns IDR 3.1 Trillion Profit In 2022

BTPN Performance presentation (Photo: Maria/VOI)

JAKARTA - PT Bank BTPN Tbk (BTPN) recorded net profit growth of 16 percent throughout 2022.

BTPN Finance Director Hanna Tantani explained, net profit after Bank BTPN's tax grew to IDR 3.10 trillion in 2022 from IDR 2.67 trillion a year earlier.

"Bank BTPN reports a satisfactory net profit growth in 2022 amid the threat of a global recession and a transition from the pandemic to endemic," he said at a press conference at the BTPN Bank Tower, Tuesday, February 28.

He continued, the increase in net profit was mainly supported by an increase in operating income and a decrease in credit costs. Operating income rose 4 percent to Rp13.69 trillion, while credit costs fell 13 percent to Rp1.84 trillion.

The growth in operating income was driven by an increase in net interest income by 5 percent to Rp11.68 trillion and an increase in other operating income by 3 percent to Rp2.01 trillion last year.

"This is in line with the increase in demand for sharia and credit financing in the corporate segment, respectively by 10 percent and 13 percent," added Hanna.

On the other hand, interest expense increased by 17 percent to IDR 4.22 trillion throughout 2022, especially in interest expense components in foreign currencies as a result of the increase in the US Federal rate.

In addition, Bank BTPN also posted an increase in assets of 9 percent to Rp209.17 trillion as of the end of 2022, up from Rp191.92 trillion at the end of 2021.

Hanna explained that this achievement is strong evidence of the fundamentality of Bank BTPN.

"All of these achievements are the result of solid performance from Bank BTPN personnel in providing the best service for every customer and assisting customers in various conditions," Hanna continued.