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State-owned lender BTN books soaring net profit in 2016
State-owned lender Bank Tabungan Negara (BTN) saw its net profit skyrocket by more than 41 percent last year to Rp 2.61 trillion (US$195.9 million) compared to Rp 1.85 trillion booked in the same period the previous year.
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Bank Tabungan Negara (BTN) president director Maryono (fourth left) poses with members of the board of directors during a press briefing in Jakarta on Feb. 13. (JP/Prima Wirayani)
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tate-owned lender Bank Tabungan Negara (BTN) saw its net profit skyrocket by more than 41 percent last year to Rp 2.61 trillion (US$195.9 million) compared to Rp 1.85 trillion booked in the same period the previous year.
Its net interest income surged by 20.26 percent year-on-year (yoy) to Rp 8.25 trillion last year while its operating income went up by 32.41 percent yoy to Rp 3.35 trillion.
"The positive achievement was supported by higher-than-industry growths in loan disbursement and third party funds collection," BTN president director Maryono told a press conference in Jakarta on Monday.
(Read also: BTN to introduce micro housing credit for informal workers)
BTN managed to disburse Rp 164.44 trillion in loans last year, up 18.34 percent from the same period the previous year versus 7.8 percent booked by the industry. Its third party funds amounted to Rp 160.19 trillion during the period, or a growth of more than 25 percent compared to 2015. (bbn)
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