BTN Records Net Profit of Rp3.5 Trillion in 2023, a 14.97% Increase

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Erlina Fury Santika 12/02/2024 16:08 WIB

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BTN's financial report shows that the company achieved a net profit of Rp3.5 trillion in Q4 2023, an increase of almost 15%.

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BTN Records Net Profit of Rp3.5 Trillion in 2023, a 14.97% Increase

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Net Interest Income and Net Profit of PT Bank Tabungan Negara/BTN for Quarter IV (2022-2023)

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PT Bank Tabungan Negara (BTN)'s financial report shows that the company's net profit reached Rp3.5 trillion in December 2023.

BTN's profit increased by 14.97% year-on-year (yoy) from Rp3.04 trillion in 2022.

Although profit increased, the interest income of the issuer with the code BBTN decreased in 2023. It reached Rp13.62 trillion in 2023, down 10.06% (yoy) from Rp15.14 trillion.

The breakdown of interest income and expenses in 2023 includes income of Rp28.27 trillion and interest expenses of Rp14.64 trillion. In 2022, interest income was Rp25.88 trillion and interest expenses were Rp10.74 trillion.

(Read also: BTN Achieves Net Profit of Rp1.47 Trillion in the First Half of 2023)

Looking at operating income and expenses excluding interest, the increase in net profit in 2023 was partly supported by commissions/fees and administration amounting to Rp1.42 trillion. This is up 14.86% (yoy) from Rp1.24 trillion.

"The increase in profit is supported by the increase in fee-based income, while the cost of funds increased," said Nixon Napitulu, President Director of Bank BTN in Jakarta on Monday (February 12, 2024), as reported by Katadata.

In addition, there was a profit from the sale of financial assets amounting to Rp548.06 billion. In 2022, this item resulted in a loss of Rp500.32 billion. The impairment loss also decreased by 6.33% (yoy), from Rp4.01 trillion in 2022 to Rp3.76 trillion in 2023.

(Read also: Record-Breaking Profit: Bank Mandiri's Profit Reaches Rp55 Trillion in 2023)

Katadata reported that this state-owned bank also recorded an increase in several key ratios. The net interest margin (NIM) reached 3.75%, while the return on assets (ROA) increased by 5 bps to 1.07%. BTN's return on equity (ROE) reached 13.86% in 2023.

In terms of intermediation, BTN disbursed Rp296.58 trillion in credit last year, an increase of 11.22% from the previous period's Rp266.66 trillion.

BTN's sharia financing also increased by 17.36%, reaching Rp37.11 trillion from Rp31.62 trillion. As a result, BTN's total credit and financing reached Rp333.7 trillion, showing an 11.87% growth compared to the previous year.

(Read also: 5 Banks and Sharia Units with Jumbo Assets in Indonesia 2023)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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BTN Records Net Profit of Rp3.5 Trillion in 2023, a 14.97% Increase

BTN Records Net Profit of Rp3.5 Trillion in 2023, a 14.97% Increase

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BTN Records Net Profit of Rp3.5 Trillion in 2023, a 14.97% Increase

BTN Records Net Profit of Rp3.5 Trillion in 2023, a 14.97% Increase

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