BCA's Net Profit Rises Again, Reaching Rp24 Trillion in the First Half of 2023

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Cindy Mutia Annur 25/07/2023 14:30 WIB

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BCA reported a net profit of Rp24.19 trillion, a 34% year-on-year (YoY) increase compared to the first half of 2022.

BCA Revenue* and Net Profit for Semester I (2022-2023)

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BCA's Net Profit Rises Again, Reaching Rp24 Trillion in the First Half of 2023

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BCA Revenue* and Net Profit for Semester I (2022-2023)

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PT Bank Central Asia Tbk (BBCA) again posted positive performance in the first half of 2023. Indonesia's largest private bank achieved a net profit of Rp24.19 trillion, a 34% increase compared to the first half of 2022 (year-on-year/yoy).

"This growth was driven by an increase in loan volume, improved loan quality, and increased transaction and funding volume," said Jahja Setiaatmadja, President Director of PT Bank Central Asia Tbk, as quoted by Katadata.co.id on Monday (24/7/2023).

The increase in profit was also driven by BCA's loan growth across all segments, both business and consumer loans. Overall, BCA's total loans increased by 9% (yoy) to Rp735.93 trillion in June 2023.

According to Jahja, the consumer loan segment continued to show growth, supported by the results of the BCA Expoversary 2023, which ended in April.

"In addition, we see strong loan demand momentum from the SME sector, in line with increased business activity in that segment," said Jahja.

In detail, up to June 2023, consumer loans were the segment with the highest loan growth, followed by commercial and SME loans.

The increase in consumer loans was supported by mortgage loans (KPR) which grew by 12% (yoy) to Rp114.57 trillion, and motor vehicle loans (KKB) which increased by 19.2% (yoy) to Rp51.43 trillion.

BCA also recorded positive growth in net interest income (NII) in the first half of 2023, amounting to Rp37.1 trillion. This figure is up 24.6% from the same period the previous year (yoy), which was only Rp29.77 trillion.

Then, non-interest income grew by 9.4% (yoy) to Rp12.16 trillion, mainly supported by an increase in fee and commission income.

In total, BCA's operating income in the first half of 2023 reached Rp49.27 trillion, or up 20.5% (yoy). In line with the improvement in asset quality, provision expenses decreased by Rp1.88 trillion from the previous year.

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."