BCA's Net Profit Rises to Rp36.4 Trillion in Q3 2023

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Cindy Mutia Annur 20/10/2023 21:26 WIB

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PT Bank Central Asia Tbk (BCA) recorded a net profit of Rp36.4 trillion in Q3 2023. This figure is up 25.8% year-on-year (yoy) compared to Q3 2022, which was Rp28.9 trillion.

BCA Revenue* and Net Profit per Quarter III (2022-2023)

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BCA's Net Profit Rises to Rp36.4 Trillion in Q3 2023

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BCA Revenue* and Net Profit per Quarter III (2022-2023)

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PT Bank Central Asia Tbk (BCA) reported a net profit of Rp36.4 trillion in the third quarter of 2023. This figure is up 25.8% compared to the third quarter of 2022 (year-on-year/yoy), which was Rp28.9 trillion.

BCA President Director Jahja Setiaatmadja said that the increase in net profit was mainly driven by the growth in loan volume in the third quarter of 2023.

"As of September 2023, BCA's loans grew by double digits in almost all segments," said Jahja in a press release on Thursday (19/10/2023).

Jahja said that SME loans were the segment with the highest loan growth, increasing by 16.4% year-on-year (yoy) to Rp104.8 trillion in the third quarter of 2023. Meanwhile, corporate loans grew by 12.2% (yoy) to Rp343.5 trillion, and commercial loans increased by 6.5% (yoy) to Rp121 trillion.

In terms of consumer loan segments, he continued, mortgage loans (KPR) grew by 11.5% yoy to Rp117.9 trillion, and motor vehicle loans (KKB) increased by 22.1% yoy to Rp53.5 trillion.

Furthermore, the outstanding balance of credit cards and individual loans also grew by 15.3% (yoy) to Rp15 trillion, so that the total consumer loan portfolio increased by 14.4% to Rp189.6 trillion. Overall, BCA's total loans increased by 12.3% (yoy) to Rp766.1 trillion in the third quarter of 2023.

BCA also booked net interest income in the third quarter of 2023 of Rp55.9 trillion, or up 21.3% (yoy). Non-interest income grew by 9.7% (yoy) to Rp18.3 trillion, supported by a 7.7% (yoy) increase in fee and commission income.

In total, BCA's operating income was recorded at Rp74.2 trillion, or up 18.2% (yoy). Along with the improvement in asset quality, provision expenses decreased by Rp1.6 trillion compared to the previous year.

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."