BTN's Net Profit Increases by Almost 20% in the First Half of 2021

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Andrea Lidwina 04/08/2021 14:40 WIB

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PT Bank Tabungan Negara Tbk (BBTN)'s net profit reached Rp 920 billion in the first half of 2021. This figure represents a 19.9% increase compared to the same period the previous year.

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BTN's Net Profit Increases by Almost 20% in the First Half of 2021

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BTN Net Profit for Semester I

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PT Bank Tabungan Negara Tbk (BBTN)'s net profit reached Rp 920 billion in the first half of 2021. This figure represents a 19.9% increase compared to the same period the previous year.

This increase is also the first since 2018. The company's net profit had continuously declined, reaching Rp 1.3 trillion in 2019 and Rp 767.6 billion last year.

According to Antara, the increase in net profit was driven by improvements in BTN's business processes. Examples include increased efficiency, digitalization, a reduction in the number of outlets, and an increase in fee-based income from non-credit transactions.

In addition to net profit gains, the company's credit disbursement and quality have continued to improve. The non-performing loan (NPL) ratio decreased to 1.87% in Q2 2021 from 2.4% in the same period the previous year.

Other state-owned banks also recorded similar performance. For example, PT Bank Mandiri Tbk (BMRI)'s net profit increased by 21.5% to Rp 12.5 trillion in the first half of 2021. This is in line with the company's digital innovation and expansion.

Editor : Dimas Jarot Bayu

"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."