BTPN Posts Net Profit of Rp1.67 Trillion in First Half of 2022

PT Bank BTPN Tbk reported a profit distributed to the parent entity's owners of Rp1.67 trillion in the first half of 2022. This achievement increased by 2% compared to the same period last year, Rp1.64 trillion (year-on-year/yoy).

Based on the bank's financial report, the growth in net profit was supported, among other things, by a 9.3% decrease in total interest expense, from Rp1.87 trillion in the first half of last year to Rp1.7 trillion this year.

In addition, other operating income increased by 5% year-on-year from Rp959 million to Rp1 billion. On the other hand, operating expenses increased slightly by 2%, from Rp3.44 trillion to Rp3.50 trillion.

BTPN also increased its net interest income by 2% year-on-year to Rp5.72 trillion in the first half of this year, from Rp5.59 trillion previously.

Bank BTPN also managed to maintain credit quality, as reflected in the gross Non-Performing Loan (NPL) ratio, which was at 1.35%, down from 1.46% last year.

Meanwhile, Bank BTPN's Third-Party Funds (DPK) increased by 7% (yoy) from Rp96.64 trillion at the end of June 2021 to Rp103.17 trillion at the end of June 2022.

Furthermore, the company recorded an 11% (yoy) increase in assets from Rp175.93 trillion to Rp195.47 trillion until June 2022.

(See Also: BRI's Net Profit in the First Half of 2022 is the Largest Among Large Banks in Indonesia)