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Economy in brief: BTN sees 22% growth in DPK in February

State-owned lender Bank Tabungan Negara (BTN) has booked more than 22 percent annual growth in its third party funds (DPK), according to its February data

The Jakarta Post
Jakarta
Mon, March 27, 2017

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Economy in brief: BTN sees 22% growth in DPK in February

S

tate-owned lender Bank Tabungan Negara (BTN) has booked more than 22 percent annual growth in its third party funds (DPK), according to its February data.

The publicly listed bank gathered Rp 156.5 trillion (US$11.74 billion) worth of DPK, with more than half of the figure coming from time deposits.

“The figure is already in line with our DPK growth target, which is between 22 percent and 24 percent, this year,” BTN consumer banking director Handayani said in a statement.

BTN’s DPK expanded by more than 25 percent year-on-year (yoy) to Rp 160.19 trillion last year, while its outstanding loans grew 18.3 percent yoy to Rp 164.44 trillion during the same period.

According to the Financial Services Authority (OJK), the banking industry expects the see their overall DPK rise by an average of 11.9 percent in 2017, higher than the 9.6 percent annual growth posted in 2016.

Data from the OJK shows that the total DPK already increased 10 percent yoy as of January.

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