BTN's Net Profit Soars 50% by Q3 2022

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Adi Ahdiat 28/10/2022 13:20 WIB

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From January to September 2022, Bank Tabungan Negara (BTN) recorded a net profit of Rp2.28 trillion, a 50.11% increase compared to the same period last year.

BTN's Interest Income and Net Profit for January-September (2021-2022)

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BTN's Net Profit Soars 50% by Q3 2022

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BTN's Interest Income and Net Profit for January-September (2021-2022)

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From the beginning of the year to the end of the third quarter of 2022, Bank Tabungan Negara (BTN) recorded a net profit of approximately Rp2.27 trillion. This figure increased by 50.11% compared to January-September of the previous year, which had a net profit of Rp1.51 trillion.

According to BTN's President Director, Haru Koesmahargyo, this achievement was supported by an increase in credit disbursement, an improvement in the non-performing loan (NPL) ratio, and a successful reduction in the cost of funds.

"BTN's transformation, in line with the transformation of the Ministry of State-Owned Enterprises, has yielded positive results. Therefore, the company's performance in the third quarter of 2022 is improving and will continue until the end of this year," said Haru in a press release on Thursday (27/10/2022).

In January-September 2022, BTN disbursed Rp289.6 trillion in credit, a 7.18% increase from the same period last year.

Credit disbursement by BTN in the first nine months of this year was dominated by housing loans, totaling Rp256.48 trillion. This figure includes subsidized home ownership loans (KPR) worth Rp140.97 trillion and non-subsidized KPR worth Rp87.11 trillion.

Disbursement of subsidized KPR in January-September 2022 grew by 8.46% compared to the same period last year, while non-subsidized KPR grew by 6.4%.

Editor : Adi Ahdiat

"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's Net Profit Soars 50% by Q3 2022

BTN's Net Profit Soars 50% by Q3 2022

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