Permata Bank Earns IDR 756 Billion Net Profit In The First Quarter Of 2023

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT Bank Permata Tbk or Permata Bank posted a net profit after a tax of IDR 756 billion in the first quarter of 2023, up from the previous IDR 750.3 billion in the same period last year.

"In line with Indonesia's strong domestic economic growth until the first quarter of 2023, PermataBank has again shown good performance achievements," said PermataBank President Director Meliza M Rusli quoting Antara.

In terms of assets, PermataBank also recorded growth of 4.9 percent on an annual basis (year-on-year/yoy), which was Rp252.7 trillion from the previous Rp240.9 trillion.

PermataBank's credit disbursement rose 0.5 percent yoy to IDR 130.1 trillion, driven by housing loans (KPR) growth of 7.0 percent.

The gross non-performing loan (NPL) ratio is stable at the level of 3.2 percent. Meanwhile, the net NPL ratio was recorded at a better level than last year, at the level of 0.4 percent from the previous 0.6 percent.

The cost to income (CIR) ratio was recorded to improve to 50.2 percent in March 2023 compared to the same period last year of 54.4 percent.

The operating cost ratio of operating income also improved to 78.1 percent, compared to the position in December 2022 of 82.4 percent.

PermataBank recorded total customer deposits of IDR 190.4 trillion, up 3.6 percent compared to last year.

Then, until the first quarter of 2023, low-cost funds or current account saving accounts (CASA) grew 4.7 percent yoy to Rp108.6 trillion with a contribution of 5.7 percent of demand growth and 3.1 percent of savings.

Thus, the CASA PermataBank ratio increased to 57.1 percent, higher than the achievement at the end of March 2022 of 56.4 percent.

PermataBank's capital is in a strong position. Reflected on the capital adequacy ratio (CAR) and the general equity level of 1 or the common equity tier-1 (CAT-1) of 41.4 percent and 31.6 percent, respectively.