JAKARTA, 8 December 2023 - PT Bank BTPN Tbk (Bank BTPN) Bank BTPN officially announced its financial performance for the current period January – September 2023. In its report, Bank BTPN recorded positive growth with an increase in interest income, net interest income and net interest margin (Net Interest Margin/NIM).
It was recorded that interest income grew by 23% year-on-year (yoy) to IDR 14,049 billion, while net interest income was recorded at IDR 8,996 billion, or an increase of 4%, amidst rising interest rates. NIM was recorded at 6.44%, higher than the same period last year, 6.36%.
Bank BTPN President Director Henoch Munandar said, "There are many challenges facing the Indonesian banking industry throughout 2023 with increasing interest rates, including other global uncertainties. However, we are grateful that Bank BTPN is still able to record positive performance results throughout 2023. "This can be achieved through implementing strategies and business decisions with the principle of prudence, in order to support the growth of the company and each business unit under the company."
On the other hand, Bank BTPN decided to increase credit reserves in 2023 as part of the Bank's anticipation regarding the corporate customer restructuring process and as part of mitigation efforts from the end of the government's COVID-19 stimulus policy. With this additional provision, credit costs increased by IDR 608 billion, which then affected the Company's Net Profit after Tax. Bank BTPN's net profit after tax (consolidated) attributable to owners of the parent entity was recorded at IDR 2,094 billion during January-September 2023, lower by 13% yoy.
In terms of credit growth, the Small and Medium Enterprises (SME) and sharia segments recorded increases of 21% yoy and 5% yoy respectively. Total credit disbursed by Bank BTPN as of the end of September 2023 increased by 3.2% YTD to IDR 150.8 trillion. Total assets reached IDR 195.84 trillion. Pre-Provision Operating Profit (PPOP) was at IDR 4.975 billion, an increase compared to last year's period of IDR 4.912 billion.
"Credit growth has actually been targeted by each bank in accordance with the direction of the regulator, both Bank Indonesia and the OJK. "Bank BTPN hopes that in 2024 Third Party Funds (DPK) will continue to grow as one of the factors supporting credit growth in banking, balancing the percentage set by the regulator," added Henoch.
Furthermore, Bank BTPN is always committed to maintaining good credit quality. This can be seen from the Bank's gross non-performing loan (NPL) ratio which is at the level of 1.47%, lower than the industry average which was recorded at 2.4% at the end of September 2023.
Bank BTPN also succeeded in maintaining liquidity and funding ratios at a healthy level, with the Liquidity Coverage Ratio (LCR) reaching 210.80% and the Net Stable Funding Ratio (NSFR) at 120.31% as of 30 September 2023. The Company recorded an adequacy ratio capital (Capital Adequacy Ratio/CAR) is at a strong level of 29.8%.
In addition to announcing financial performance reports, Bank BTPN has also held an Extraordinary General Meeting of Shareholders (EGMS) which was held on December 7 2023. At the EGMS, shareholders officially approved: (1) the plan to withdraw the Company's shares resulting from the buyback ( "Treasury Stock"), as well as (2) the plan to increase capital by granting pre-emptive rights ("PMHMETD") or Right Issue, in accordance with the provisions of the Company's Articles of Association and applicable laws and regulations.
In the discussion on the first agenda, Bank BTPN plans to withdraw a total of 92,292,198 Treasury Stock. Referring to POJK No.2/POJK.04/2013 concerning Buyback of Shares Issued by Issuers or Public Companies in Significantly Fluctuating Market Conditions (POJK 2/2013), Bank BTPN bought back shares up to a total of 95,198,900 shares in the period between February 23 to May 23 2016.
Furthermore, to comply with POJK 2/2013, Bank BTPN has made several efforts regarding the obligation to transfer shares in accordance with regulations, including using a total of 2,633,202 shares for Material Risk Takers based on the AGMS Decision on April 22 2021; and transferred 92,565,698 shares by sale via the IDX.
However, in fluctuating market conditions due to the impact of COVID-19 and other global uncertainties, the amount of Treasury Stock up to 30 September 2023 was 92,314,998, meaning that only 250,700 shares or 0.27% of the Company's total Treasury Stock were successfully transferred. to the public through sales on the IDX. Considering that the transfer deadline will end in 2024, the Company intends to withdraw Treasury Stock into the capital in the Company's savings, as an effort to transfer other shares as regulated in POJK 2/2013.
"With the withdrawal of Treasury Stock, the issued and paid-up capital will decrease, but the capital in deposits (portepel) will increase and the total shares owned by each shareholder will not decrease. The withdrawal of Treasury Stock will not have an impact on the Company's financial performance, therefore it will not interfere with fulfilling the Company's obligations to third parties," added Henoch.
Meanwhile, in the discussion on the second agenda, Bank BTPN revealed plans to increase capital by granting pre-emptive rights (PMHMETD) or Right Issue, which will offer a maximum of 3,095,000,000 ordinary shares in its name with a nominal value of IDR 20 (twenty Rupiah). per share.
The Company plans to use all the funds it receives from PMHMETD II (after deducting emission costs), to finance the Company's future projects for inorganic growth (including making acquisitions in other companies).
"The new shares will be issued from the Company's portfolio and will be listed on the IDX in accordance with applicable laws and regulations. "The new shares will have the same and equal rights in all aspects as all the Company's old shares, including the right to dividends," concluded Henoch.
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