BTN Records Rp1.47 Trillion in Net Profit in the First Half of 2023

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Adi Ahdiat 25/07/2023 17:10 WIB

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Despite a decline in revenue, BTN recorded a net profit of Rp1.47 trillion in the first half of 2023, up 0.23% compared to the first half of the previous year.

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BTN Records Rp1.47 Trillion in Net Profit in the First Half of 2023

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BTN's Revenue* and Net Profit for Semester I (2022-2023)

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PT Bank Tabungan Negara Tbk (BTN) recorded net interest income of Rp6.47 trillion in the first half of 2023, down 16.27% compared to the first half of last year.

Despite the weakening revenue, this state-owned enterprise (SOE) posted a net profit of Rp1.47 trillion in the first half of 2023, up 0.23% compared to the first half of 2022.

As of the end of the first half of 2023, BTN had total liabilities of Rp372.15 trillion, down from Rp376.24 trillion at the end of 2022.

BTN's equity increased from Rp25.9 trillion at the end of 2022 to Rp28.39 trillion at the end of the first half of 2023.

Cumulatively, the movement of liabilities and equity resulted in a decrease in BTN's total assets, from Rp402.15 trillion at the end of 2022 to Rp400.5 trillion at the end of the first half of 2023.

"Financial performance in the first half of this year was indeed more challenging," said BTN President Director Nixon LP Napitupulu in a press release on Friday (7/21/2023).

"We are optimistic that until the end of 2023 we will still be able to record positive financial performance in accordance with the targets that have been set. We are also still in the process of building a more modern and contemporary Bank BTN," he continued.

Throughout the first half of 2023, BTN has disbursed loans and financing with a total value of Rp308 trillion. This disbursement was dominated by subsidized home ownership loans (KPR) worth Rp152.17 trillion, and non-subsidized KPR worth Rp90.83 trillion.

"We are accelerating credit while paying close attention to the principle of prudence. Our Gross NPL ratio is still well maintained at 3.66 percent. By the end of this year we hope to be able to lower the NPL ratio below 3 percent," said Nixon.

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."