BCA Earns IDR 11.5 Trillion Net Profit In The First Quarter Of 2023, Up 43 Percent

President Director of BCA Jahja Setiaatmadja (Photo: Screenshot of zoom by Theresia Agata/VOI)

JAKARTA - PT Bank Central Asia (BCA) Tbk (BBCA) recorded a net profit of IDR 11.5 trillion, an increase of up to 43.0 percent, in the first quarter of 2023. Meanwhile, credit distribution performance grew by 12.0 percent year on year (yoy).

"This growth is driven by the expansion of credit volume, improvement in loan quality, higher yields from the placement of funds in state bonds as a source of national development financing, as well as an increase in revenue fees and commissions in line with the increase in the number of transactions," said BCA President Director Jahja Setiaatmadja in an online presentation of PT BCA's 1 2023 Performance in Jakarta, Thursday, April 27.

Then, in terms of assets, the corporate loans that have been given by BCA have reached IDR 320.5 trillion, an increase of 11.7 percent, until March 2023. Along with the increase in business activities, commercial credit and SMEs, it also increased 11.8 percent (yoy) or reached IDR 211.1 trillion.

"BCA's support in the SME sector is reflected in the Macroprudential Inclusive Financing Ratio (RPIM) which is recorded at 22.1 percent or above the set target," said Jahja.

Meanwhile, mortgages grew 11.6 percent (yoy) to Rp109.6 trillion, and KKB rose 15.2 percent (yoy) or to Rp47.9 trillion. This is because it is supported by the BCA Expoversary 2023 which is being held.

The outstanding balance of credit cards also grew by 16.2 percent (yoy) to Rp14.0 trillion, bringing the total portfolio of consumer loans to Rp174.5 trillion.

Thus, overall, BCA's total credit rose 12.0 percent yoy to IDR 713.8 trillion in March 2023.

"In general, we have not raised credit interest rates to always provide competitive interest rates in the market, as well as encourage economic recovery," said Jahja.

Credit disbursement to sustainable sectors also rose to 11.9 percent (yoy) or reached Rp180.8 trillion in March 2023, thus contributing up to 25.0 percent to the total BCA financing portfolio.

BCA credit growth was also followed by improvements in loan quality, which is in line with the restructured credit portfolio gradually returning to normal payments.

Furthermore, BCA said, the loan at risk (LAR) ratio had fallen to 9.5 percent in the first quarter of 2023 compared to the same period the previous year, which was 13.8 percent. Meanwhile, the ratio of non-performing loans (NPL) was recorded at 1.8 percent or down from 2.3 percent from the previous year. The ratio of NPL and LAR reserves is at a good level, at 285.4 percent and 57.9 percent, respectively.

On the funding side, BCA said, CASA increased by 5.7 percent (yoy) or reached IDR 843.3 trillion as of March 2023, so it could be said that it contributed 81.2 percent of the total third party funds.

Overall, the total third party funds grew 4.1 percent (yoy) to Rp1,039 trillion, thus encouraging BCA's total assets to increase 4.9 percent (yoy) to Rp1,322 trillion.

"Supported by adequate liquidity, we are optimistic that we can maintain sustainable credit growth. BCA always manages market risk of liquidity and risk prudently, to ensure that it avoids the impact of the dynamics that are happening in the global market," concluded Jahja.