On its 58th birthday, PT Bank Pembangungan Daerah Jawa Tengah (Bank Jateng) recorded a consolidated profit for the current year (before tax) of more than 500 billion in the 1st Quarter – 2021.
The current year profit (before tax) of Bank Jateng until March 31, 2021 was recorded at 549 billion rupiahs (127.67%), an increasement of 76.12% (yoy) compared to the previous year of 312 billion rupiahs.
Good financial performance growth is reflected in the total assets acquisition , liabilities and equity which is until the end of March 2021 realized of 82,209 billion, 74,451 billion, and 7,757 billion rupiahs, respectively.
The total assets achievement , which showed a growth of up to 15.85% from the previous year, was supported, among others, by the deposits accumulation which grew significantly.
Accumulated lending and financing during the 1st Quarter – 2021 reached up to 51,298 billion rupiahs, and grew 4.99% from the previous year of 51,106 billion rupiahs. Meanwhile, TPF collection was achieved by 68.699 billion or 106.74% of the target and grew significantly by 23.25% compared to the previous year of 55.741 billion rupiahs in the middle of the economic conditions in the 1st Quarter – 2021 which had not fully recovered due to the impact of the Covid-19 pandemic.
Supriyatno – President Director of Bank Jateng conveyed that “The performance of collecting the Third Party Funds and bank lending in Bank Jateng which continues to grow well in 2020 to the 1st Quarter – 2021 is one of the thanks to the great trust from the Government to Bank Jateng in the form of Placement of State Money (PUN). The 1st Phase of 2 trillion rupiahs since August 12, 2020, which then has been successfully disbursed to 5.09 million debtors with a total lending of up to 8.19 trillion rupiahs, with the leverage reaching 4.1 times or higher than the target of 2 times leverage from the PUN funds.
Meanwhile, the 2nd Phase of PUN amounted to 2 trillion rupiahs, until the end of March 2021 it was able to be disbursed to 16,761 debtors with a total credit distribution of 2.76 trillion rupiahs with the leverage of 1.38 times in less than 2 months.
“It is an achievement that should be proud of and Bank Jateng is very grateful for the trust given by the Government to participate and be part of the National Economic Recovery Program” – said Supriyatno.
The Loan to Deposit Ratio (LDR) ratio at the end of March 2021 was recorded at 74.67%, and the Capital Adequacy Ratio (CAR) of 18.62%, showing the real efforts of Bank Jateng in maintaining the fund collection stability and lending, it’s also supported by an adequate capital adequacy.
The achievement of Bank Jateng’s credit distribution continued to pay attention to the credit quality therefore the NPL ratio as of March 31, 2021 was well maintained at the range of 3.62%, with a coverage ratio of 121.51%. Net Interest Margin (NIM) at the end of March 2021 was at the level of 5.74%, a slight decrease compared to last year’s of 5.84%.
This is in line with the decreasement in the Net Interest Income compared to the previous year which was lower due to the interest rates in support of the PEN program.
Meanwhile, the ratio of Operating Costs to Operating Income (BOPO) at the end of March 2021 was recorded at 69.72%, a decreasement compared to the March 2020 which is at 82.90%.
Supriyatno revealed “The operational efficiency that was carried out from 2020 to March 2021 has had a positive impact on the overall operating income of Bank Jateng.”
The company’s steps to increase business profitability can also be seen from the performance of the Return on Assets (ROA) and the Return on Equity (ROE) ratios at the end of March