First Quarter Of 2023, Bank DKI's Profit Increases 16.77 Percent Compared To Last Year

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JAKARTA - The regional development bank (BPD) owned by the DKI Provincial Government, Bank DKI recorded an increase in net profit in March or the first quarter of 2023 by 17.77 percent compared to March 2022.

"Bank DKI's net interest rose 17.77 percent to Rp233.20 billion in March 2023 compared to Rp198.01 billion in March 2022," said Bank DKI President Director Fidri Arnaldy in his statement, Art, May 8.

Net profit growth was IDR 233.20 billion, said Fidri, driven by an increase in interest income which rose by 17.17 percent to IDR 1.31 trillion in March 2023 from IDR 1.12 trillion in March 2022.

"This increase was driven by an increase in interest income originating from credit and financing expansion and maximizing Bank productive assets in various financial instruments such as securities or placements in Bank Indonesia or other banks," he said.

In addition, fee-based income increased by 28.12 percent to IDR 149.15 billion in March 2023 from IDR 116.42 billion in the same period last year.

The performance of third party funds (DPK) also grew 16.27 percent to Rp67.13 trillion in March 2023 from Rp57.74 trillion in March 2022. Loan to deposit ratio (LDR) increased significantly to 72.06 percent in March 2023 from 66.29 percent in the same period in the previous year.

Then, Bank DKI's credit in the first quarter increased by 24.68 percent to IDR 48.37 trillion in March 2023, from IDR 38.80 trillion in the same period in the previous year. Thus, pushing an increase in assets of 12.38 percent to IDR 79.93 trillion in March 2023, from IDR 71.13 trillion in March 2022.

Meanwhile, Bank DKI's net profit rose 17.77 percent to IDR 233.20 billion in March 2023 compared to IDR 198.01 billion in March 2022.

President Director of Bank DKI, Fidri Arnaldy, said that the increase in the performance of Bank DKI which continues to grow positively is in line with business strategies in stable and potential segments. Including, the focus of transformation towards digitalization consistently.

"Seeing positive performance developments in the first quarter of 2023, Bank DKI is optimistic that it can achieve its year-end target, in line with the positive trend of national economic recovery with the national economic growth target in 2023 above 5 percent," he said.

Bank DKI's year on year (yoy) lending also increased in all segments compared to the Q1 2022 period. Among them is retail loans grew by 79.38 percent to Rp1.06 trillion in March 2023, from Rp595.08 billion in Q1 2022.

Then, micro credit grew by 54.35 percent to IDR 2.69 trillion in March 2023 from IDR 1.74 trillion in Q1 2022. Consumer loans grew 14.16% to IDR 20.54 trillion in March 2023 from IDR 17.99 trillion in Q1 2022.

"Credits on a larger scale also grew positively, such as medium credit growing by 47.14 percent to Rp1.44 trillion in March 2023 from Rp981.40 billion in March 2022," said Fidri.

Meanwhile, commercial credit grew by 16.51 percent to IDR 16.23 trillion in March 2023 from IDR 13.93 trillion in March 2022. Syndicated loans grew by 80.07 percent, to IDR 6.39 trillion in March 2023 from IDR 3.55 trillion in March 2022.