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Jenius Banking Reinvented
01 November 2022
Bank BTPN Net Profit Up 18% yoy January-September
Jakarta, November 1, 2022 - PT Bank BTPN Tbk (Bank BTPN) recorded year-on-year (yoy) net profit growth of 18% in January-September 2022 as Bank BTPN managed to maintain the momentum of national economic recovery amid global uncertainty.
Bank BTPN's net profit after tax (consolidated) attributable to owners of the parent company increased to Rp2.418 trillion during January-September, compared with Rp2.046 trillion in the same period last year.
"Bank BTPN's impressive net profit growth is inseparable from the optimism of public members and business players towards economic growth and the trust from our customers toward Bank BTPN amid high inflation and the uptrend of bank interest rates," said Bank BTPN President Director Henoch Munandar.
Bank BTPN's net profit growth was mainly contributed by an increase in operating income and a decrease in cost of credit.
Operating income rose 4% yoy, supported by net interest income that increased by 4% yoy to Rp8.669 trillion at the end of September 2022 and a 5%-yoy rise in other operating income. Net interest income was up because of a 23% rise in loans in the corporate segment and an 11% increase in sharia financing.
Meanwhile, cost of credit fell 19% yoy to Rp1,294 trillion. "We’ll continue to monitor customer credit quality and maintain loan-loss provisions at an adequate level," said Henoch.
Total loans disbursed by Bank BTPN increased by 13% yoy to Rp155.43 trillion at the end of September 2022 in line with the optimistic view of economic growth momentum. Bank BTPN's credit growth was higher than the average credit growth in the banking industry, which stood at 11% yoy at the end of September 2022, according to Bank Indonesia data.
Credit growth also pushed Bank BTPN's assets up 9% yoy to Rp199.90 trillion at the end of the third quarter of 2022.
Bank BTPN managed to keep credit quality at a healthy level, as reflected in the gross non-performing loan (NPL) ratio of 1.41%, down from 1.56% reported in the corresponding period of last year and lower than the industry average of 2.88% at the end of August 2022.
Bank BTPN maintained the amount of third-party deposits at a level sufficient to meet credit funding needs and Bank BTPN’s liquidity needs. Bank BTPN's third-party deposits increased by 1% yoy to Rp103.88 trillion at the end of September 2022.
An amount of third-party deposits shifted from time deposits to Current Account Saving Accounts (CASA). Bank BTPN's CASA increased by 21% yoy, or Rp7.30 trillion, to Rp42.87 trillion at the end of September 2022, and the CASA ratio increased to 41%. Time deposits dropped 10% yoy, or Rp6.64 trillion, to Rp61.01 trillion.
Liquidity and funding ratios are at a healthy level, with a Liquidity Coverage Ratio (LCR) reaching 194.4% and a Net Stable Funding Ratio (NSFR) standing at 123.1% at the end of September 2022. The Capital Adequacy Ratio (CAR) was recorded at 25.0%.
As the pioneer in development of digital banking in Indonesia, Bank BTPN continues to improve the reliability of Jenius features—a life finance solution application for digital-savvy customers—through co-creation and collaboration with co-creators. The latest innovation from Jenius is the Jenius Visa Credit Card, which was just launched on October 28, 2022.
Jenius recorded 20%-yoy growth in the number of registered users to 4.21 million at the end of September 2022, from 3.51 million in the same period last year. Third-party funds managed by Jenius also showed an increase of 33% yoy to Rp19.4 trillion, and total loans disbursed through Jenius (Flexi Cash) reached Rp786.86 billion, or up 185% yoy, from Rp275.89 billion in the same period last year.
"With good performance and healthy fundamentals, we are optimistic that we can maintain this growth over time to meet financial needs of our customers in various segments," said Henoch.
For further information please contact:
PT Bank BTPN Tbk
Andrie Darusman – Communications & Daya Head
Email: [email protected] or [email protected]
PT Bank BTPN Tbk (Bank BTPN) is a foreign exchange bank and is a merger between PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and PT Bank Sumitomo Mitsui Indonesia (SMBCI) in February 2019. Bank BTPN serves various segments in the banking industry, from retail to corporate customers, including retirees, micro-, small- and medium-sized enterprises (MSME) and productive, pre-prosperous communities; the consuming class segment; and the corporate segment. Bank BTPN provides the services through business units, such as BTPN Sinaya—a business unit for wealth management, BTPN Purna Bakti—a business serving retirees, BTPN Micro Business—a business unit serving micro businesses, BTPN SME—a business serving small- and medium-sized enterprises, Jenius—a digital banking platform serving the consuming class segment, and the corporate business unit, which serves national, multinational, and Japanese companies. Bank BTPN also has a subsidiary, namely PT Bank BTPN Syariah Tbk, which focuses on serving customers from the mass market. Bank BTPN also regularly provides training sessions and information for customers through the Daya Program—a sustainable and measurable empowerment program—to improve customers’ capacity so they can grow and have a chance to live better.