Growing Positively, Sharia BTN Profits Soared 40 Percent

Illustration of financial reports (Photo: Antara)

JAKARTA - The Sharia Business Unit (UUS) of PT Bank Tabungan Negara (Persero) Tbk or BTN Syariah recorded positive growth in the first quarter of 2023. BTN Syariah's net profit was recorded to have jumped by around 40 percent from IDR 75.41 billion in the first quarter of 2022 to IDR 105.15 billion in the same period this year.

"The positive achievement of BTN Syariah is supported by stable business growth," said Main Director of Bank BTN Nixon LP Napitupulu in a statement quoted on Thursday, April 27.

He continued, in the first quarter of 2023, sharia financing was recorded to have grown 15.52 percent to IDR 32.63 trillion compared to the end of March 2022 of IDR 28.24 trillion.

Meanwhile, the total DPK that BTN Syariah managed to collect during the first quarter of 2023 reached IDR 35.63 trillion, a growth of 27.29 percent compared to the same period last year of IDR 27.99 trillion.

With this achievement, BTN Syariah assets managed to grow 24.53 percent to IDR 46.52 trillion compared to the same period last year of IDR 37.35 trillion.

In line with UUS, Bank BTN also showed positive performance. During the first quarter, Bank BTN's net profit grew to Rp 801 billion.

The total assets of Bank BTN until the end of March 2023 were recorded at IDR 401.50 trillion, up 9.25 percent from the achievement in the same period the previous year of IDR 367.51 trillion.

Bank BTN's lending and financing reached around IDR 300 trillion in the first quarter of 2023, growing 8.16 percent from last year's achievement of IDR 277.13 trillion.

Loan distribution was dominated by subsidized mortgages worth IDR 148.65 trillion, growing 10.90 percent from the previous IDR 134.04 trillion.

Meanwhile, the distribution of non-subsidized mortgages was recorded at IDR 88.81 trillion, up 5.37 percent from the achievement in the first quarter of 2022 of IDR 84.28 trillion.

The ratio of non-performing loans or Non-Performing Loans (NPL) to Bank BTN is moving positively with NPL Gross at the level of 3.54 percent, lower than the previous level of 3.6 percent.

As for Third Party Funds (DPK), its value rose 10.01 percent in the first quarter of 2023 when compared to the same period last year, which amounted to IDR 319.60 trillion from the previous IDR 290.53 trillion.

Of this amount, the acquisition of low-cost funds or Current Account Saving Accounts (CASA) reached IDR 166.80 trillion, an increase of 30.05 percent compared to the end of March 2022 of IDR 128.26 trillion.