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Despite Falling Revenue, BTN's Profit Rises in Q1 2023

Adi Ahdiat 28/04/2023 20:26 WIB

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BTN recorded a net profit of Rp800.9 billion in Q1 2023, a 3.42% increase compared to Q1 of the previous year.

BTN's Revenue* and Net Profit per Quarter I (2022-2023)

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Despite Falling Revenue, BTN's Profit Rises in Q1 2023

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BTN's Revenue* and Net Profit per Quarter I (2022-2023)

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Bank Tabungan Negara (BTN) reported a net profit of Rp800.9 billion in the first quarter of 2023, a 3.42% increase year-on-year (yoy).

However, during the same period, BTN's net interest and profit-sharing income decreased by 12.43% (yoy) to Rp3.08 trillion.

This decrease in income was offset by a reduction in operating expenses. In the first quarter of 2023, BTN's total operating expenses amounted to Rp2.06 trillion, a decrease compared to Rp2.32 trillion in the first quarter of the previous year.

BTN's total assets as of the end of March 2023 grew by 9.25% (yoy) to Rp401.5 trillion, and its credit disbursement grew by 8.16% (yoy) to approximately Rp300 trillion.

BTN's credit disbursement is still dominated by mortgage loans (KPR), which amounted to Rp264.57 trillion as of the first quarter of 2023.

The majority of these loans are subsidized mortgages (KPR subsidi) with a value of Rp148.65 trillion and a growth rate of 10.90% (yoy).

BTN's non-subsidized mortgage loan disbursement reached Rp88.81 trillion, with a growth rate of 5.37% (yoy).

As of the end of the first quarter of 2023, BTN's third-party funds (DPK) reached Rp319.60 trillion, up 10.01% (yoy) compared to the first quarter of the previous year.

Approximately half of BTN's total DPK consists of low-cost funds or current account saving accounts (CASA) with a value of Rp166.80 trillion.

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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Despite Falling Revenue, BTN's Profit Rises in Q1 2023

Despite Falling Revenue, BTN's Profit Rises in Q1 2023

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Despite Falling Revenue, BTN's Profit Rises in Q1 2023

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