JAKARTA -- bank bjb remains able to maintain business growth throughout the third quarter of 2023 amidst continued economic pressure, such as rising interest rates, as well as external factors, namely the global economy has not yet recovered.

As of September 2023, bank bjb managed to make a profit of up to IDR 1.7 trillion. This achievement was conveyed by the President Director of bank bjb Yuddy Renaldi and his staff at the earnings call for the third quarter of 2023, at the bank bjb T-Tower Building, Jakarta, Tuesday (31/10/2023).

The solid performance achieved by bank bjb is in line with the company's ability to continue to expand market control, increase credit disbursement in various business segments, and also the increasingly impressive use of digital platforms owned by bank bjb. Domestic economic conditions which continue to recover along with increasing mobility and the expansion of various industrial sectors, also have a positive impact on bank bjb.

Until September 30 2023, said Yuddy, bank bjb's performance in terms of credit and financing, grew by 10.2 percent or to IDR 124.9 trillion. In the midst of growing credit, bank bjb also succeeded in maintaining non-performing loans (NPL) at 1.26 percent with a coverage ratio at 114.7 percent. Meanwhile, bank bjb's third party funds (DPK) reached IDR 130.9 trillion. In the asset indicator, it grew 5.3 percent year on year, or to IDR 179.3 trillion.

"We are grateful, thanks to the right business strategy, a prudent approach in various business segments, as well as the ability to maintain efficiency in managing assets & liabilities, the pressure on the cost of funds can be more controlled, as a result bank bjb's performance continues to grow positively," said Yuddy, Tuesday (31/10/2023).

Yuddy said that one of the indicators that contributed to bank bjb's performance throughout the third quarter of 2023 was the increasing growth of credit in various segments such as consumer, corporate and commercial, KPR, and also credit in the MSME sector.

“In the last quarter of 2023, we remain optimistic. "Room for credit growth is still open, and is supported by various government policies in efforts to restore the economy," he said.

Bank bjb's performance, continued Yuddy, is also supported by the digital transformation carried out by the company. DIGI by bank bjb mobile Apps users have reached 1.63 million users, or an increase of 47.3 percent compared to the previous year. Meanwhile, QRIS merchants reached 984 thousand merchants, growing 25.8 percent. Then the total bank bjb smart sales agents have reached 16.8 thousand agents.

On the other hand, the interest rate factor is still a challenge for the banking sector, therefore the company is also focused on encouraging other income through fee-based income-based service products, digital ecosystems, technology-based service products and wealth management.

According to Yuddy, in the midst of economic challenges, credit interest rates provided need to continue to follow developments in existing market conditions by repricing to maintain healthy margins. However, implementation is carried out in stages by considering the debtor's ability to pay and maintaining credit quality so that it does not become NPL or bad credit.

To balance the policy of reference interest rates which continue to increase to anticipate existing inflationary pressures, bank bjb continues to carry out good liquidity management so that liquidity remains ample with manageable funding costs, so that it is more efficient in funding costs.

Throughout the remainder of 2023, expansion in the corporate and commercial segments will be carried out selectively by looking at the interest rates given to maintain credit quality and yield at a healthy level to offset pressure on the cost of funds.

At the end of his presentation, Yuddy was optimistic that bank bjb's performance until the end of the year would be better for credit, where the credit portion with higher yields would be prioritized to offset pressure on funding costs.

bank bjb is also committed to continuing to expand its business, including strengthening its offline network and online channels. Currently bank bjb has thousands of physical networks and we continue to maintain electronic banking terminals. (guh/rdp*)