Heaptalk, Jakarta — Bank BTPN recorded positive performance throughout the first half of 2024 as the company strives to positively impact society through inclusive financial services.
“Bank BTPN is committed to creating meaningful growth for all segments of society. We also continue to promote the development of prospective sectors so that stakeholders can widely feel the company’s sustainable business impact,” said Henoch Munandar, President and Director of Bank BTPN.
In the first half of this year, Bank BTPN achieved significant growth in credit and assets due to the company’s commitment to sustainable economic growth through expanding product and service innovations relevant to customer needs.
Bank BTPN’s consolidated financial report for January-June 2024 includes the financial performance of PT Oto Multiartha and PT Summit Oto Finance, which were acquired at the end of March 2024. These financing companies are part of the Oto Group, the majority of whose shares are now owned by Bank BTPN.
The acquisition of the Oto Group has significantly contributed to the growth of Bank BTPN’s credit and assets. Credit disbursement through the Oto Group supports the mobility of the broader community. Bank BTPN’s assets grew by 22% year-on-year (YoY) to Rp235.8 trillion. Meanwhile, its credit disbursement increased by 19% YoY to Rp176.2 trillion as of June 2024.
On the other hand, the balance of the current account & savings account (CASA) increased by 29% YoY to Rp48.1 trillion at the end of June 2024, and deposits rose by 1% YoY to Rp70.9 trillion, resulting in the CASA ratio rising to 40.4% as of the end of June 2024. Thus, total third-party funds grew by 11% YoY to almost Rp119.0 trillion as of the end of June 2024. Bank BTPN continues to optimize funding costs.
Bank BTPN also issued Sustainable Bonds V Phase I 2024 with a principal amount of Rp355 billion at the beginning of July 2024 to diversify funding sources and maintain a better funding maturity profile. In its efforts to increase credit disbursement, particularly in potential sectors, Bank BTPN maintains its credit quality. As of June 2024, Bank BTPN’s gross non-performing loan (NPL) ratio was 2.21%, lower than the industry average of 2.34% at the end of May 2024.
Bank BTPN also maintains its liquidity and funding ratios at healthy levels, with a liquidity coverage ratio (LCR) of 234.9% and a net stable funding ratio (NSFR) of 115.6% as of June 30, 2024. The company recorded a strong capital adequacy ratio (CAR) of 28.8%.
