Bank BTN's Net Profit Soars 48% to Rp 2.37 Trillion in 2021

PT Bank Tabungan Negara (Persero) Tbk reported a net profit attributable to the parent entity of Rp 2.37 trillion in 2021. Bank BTN's profit surged 48.3% compared to the previous year's Rp 1.6 trillion.

Consequently, the bank's net profit per share (BBTN) increased by 58.87% to Rp 224 per share in 2021, compared to Rp 151 per share in the previous year.

Bank BTN recorded a 2.26% growth in interest income, reaching Rp 25.83 trillion in 2021 compared to the previous year. Meanwhile, interest expenses decreased by 21.31% to Rp 12.63 trillion in 2021.

As a result, BBTN's net interest income soared by 44.72% to Rp 13.2 trillion throughout last year, compared to Rp 9.12 trillion in the previous year.

BBTN's equity grew by 7.1% to Rp 21.41 trillion in 2021, compared to Rp 19.87 trillion in the previous year. Its liabilities increased by 2.71% to Rp 350.46 trillion in 2021 compared to Rp 341.22 trillion in the previous year.

Thus, the state-owned bank's total assets also grew by 2.95% to Rp 371.87 trillion compared to Rp 361.21 trillion in the previous year.

Bank BTN's gross Non-Performing Loan (NPL) ratio decreased to 3.7% at the end of 2021, compared to 4.37% at the end of 2020. The Net Interest Margin (NIM) increased to 3.99% in 2021 from 3.06% in the previous year.