Q3 2017, BTN Bank Profit Grows 24 Percent

PT Bank Tabungan Negara (Persero) Tbk recorded a 23.7 percent increase in net profit to Rp 2 trillion in the January-September 2017 period compared to the same period in the previous year (YoY). However, this year's achievement is lower than the same period in 2016, which recorded a 32.6 percent growth.

The growth in net profit performance up to the third quarter of 2017 for this government-owned bank was supported by net interest income, which increased by 16.95 percent to Rp 6.55 trillion compared to Rp 5.59 trillion in the same period of the previous year. This increase in income stemmed from an increase in loans and financing.

Meanwhile, interest expenses for the issuer with the stock code BBTN in the first nine months of 2017 only grew by 9.21 percent to Rp 7.88 trillion (YoY). Interest income, however, grew by 12.95 percent to Rp 6.55 trillion (YoY).