BCA's "Blu" Recovers from Losses, Posts Rp11.35 Billion Profit in Q3 2023

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Nabilah Muhamad 01/11/2023 18:32 WIB

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PT Bank BCA Digital, or Blu, reported a net profit of Rp11.35 billion for the third quarter of 2023.

Digital BCA Bank (Blu) Revenue* and Net Profit per Quarter III (2022-2023)

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BCA's "Blu" Recovers from Losses, Posts Rp11.35 Billion Profit in Q3 2023

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Digital BCA Bank (Blu) Revenue* and Net Profit per Quarter III (2022-2023)

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PT Bank BCA Digital, or Blu, recorded a net profit of Rp11.35 billion for the year to date during the third quarter of 2023. This achievement successfully pulled Blu out of a loss of Rp18.24 billion in the same period last year (year-on-year/yoy).

Positive performance was supported by net interest income, which reached Rp405.01 billion by the end of the third quarter of 2023. This income surged 137.69% (yoy) compared to the same period last year, which recorded Rp170.38 billion.

In line with the increase in income, Bank BCA Digital's operating expenses also rose 108.75% (yoy) to Rp394.22 billion this quarter.

Bank BCA Digital's largest expense came from labor costs, amounting to Rp93.87 billion, which increased by 33.88% (yoy).

Similarly, other expenses and promotional expenses both increased to Rp191.21 billion (+33.88%) and Rp92.74 billion (+89.66%) year-on-year (yoy).

In terms of intermediation, during the January-September 2023 period, Bank BCA Digital disbursed Rp4.46 trillion in credit. This amount increased by 113.62% from the same period last year (yoy), which disbursed Rp2.09 trillion.

Regarding profitability ratios, Bank BCA Digital recorded an improvement in its return on equity (ROE) from -0.61% in the third quarter of 2022 to 0.13% in the third quarter of 2023.

Furthermore, Bank BCA Digital's return on assets (ROA) also turned around from -0.3% in the third quarter of last year to 0.13% in the third quarter of this year.

(See also: BCA's Net Profit Rises to Rp36.4 Trillion in Q3 2023)

Editor : Erlina Fury Santika

"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."