Bank Danamon Distributes Rp151.8 Trillion Loans In The First Quarter Of 2023

Photo: Doc. Danamon Bank

JAKARTA - PT Bank Danamon Indonesia Tbk (Danamon/BDMN) recorded total lending and trade finance of IDR 151.8 trillion in the first quarter of 2023.

According to Danamon Daisuke Ejima's President Director in his statement, quoted from Antara, Saturday, April 29, it was stated that this achievement was supported by growth in each business segment, including PT Adira Dinamika Multifinance Tbk or Adira Finance.

The Danamon subsidiary posted a growth of 48 percent for new financing when compared to the same period the previous year which was recorded at 33 percent.

"This is just a start, we will continue to innovate, find better ways to serve and provide financial solutions for our customers, achieve better performance records, and strengthen collaboration between MUFG and Adira Finance as a group," Daisuke said.

On the other hand, BDMN's total funding grew by 2 percent on an annual basis to Rp138.6 trillion.

Meanwhile, in terms of profitability, Net Interest Margin (NIM) increased by 50 basis points (bps) on an annual basis with a stable quarterly trend. This achievement shows NIM rose to 8.4 percent from the previous 7.9 percent in the same period last year.

Meanwhile, banking operating income increased 6 percent on an annual basis to IDR 4.4 trillion. Meanwhile, Net After Tax Profit (NPAT) was recorded at IDR 818 billion, down from the same period last year which was recorded at IDR 860 billion.

In terms of assets, the ratio of non-performing loans or Loan at Risk (LAR) of BDMN which is managed to 12.7 percent, improves by 270 bps on an annual basis. LAR BDMN also includes the restructuring of COVID-19 under forbearance.

Strengthening asset quality can also be seen in terms of coverage of the Coverage Non Performing Loan (NPL) ratio which reached a record high at the level of 254 percent.