BTPN Syariah's Net Profit Grew 116% in Q3 2021

PT Bank BTPN Syariah Tbk (BTPS) reported a net profit of Rp 1.1 trillion (approximately US$76 million) up to the third quarter of 2021. This figure represents a 116% year-on-year (YoY) increase from Rp 506.5 billion (approximately US$35 million) in the same period of the previous year.

This growth in net profit was supported by funding disbursement revenue of Rp 3.43 trillion (approximately US$237 million) up to Q3 2021. This represents a 16.8% YoY increase from Rp 2.94 trillion (approximately US$203 million).

Meanwhile, profit sharing for investment fund owners decreased by 19% YoY to Rp 309.5 billion (approximately US$21 million). Therefore, income after profit sharing distribution amounted to Rp 3.12 trillion (approximately US$216 million), a 22.2% YoY increase.

Furthermore, the company's financing increased by 12% YoY to Rp 10.2 trillion (approximately US$705 million) from January to September 2021. BTPS's financing quality was also maintained, with a non-performing financing (NPF) ratio of 2.4%.

BTPS's capital adequacy ratio (CAR) stood at 55%, significantly above the industry average. Total assets grew by 15% to Rp 17.79 trillion (approximately US$1.2 billion).

BTPS's customer deposits (DPK) amounted to Rp 10.6 trillion (approximately US$732 million). This represents a 15% YoY increase from Rp 9.2 trillion (approximately US$635 million) in Q3 2020.