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Jakarta Post

State-owned lender BTN nets Rp 3.02t in profit

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, February 14, 2018   /   03:16 pm
State-owned lender BTN nets Rp 3.02t in profit Construction continues on a housing complex in Serpong, South Tangerang, Banten. (Antara/Audy Alwi )

State-owned lender Bank Tabungan Negara (BTN) has recorded a net profit of Rp 3.02 trillion (US$221.67 million) in 2017, 15.59 percent higher than the previous year.

The rise was fuelled by an increase in loan revenues from Rp 164.44 trillion to Rp 198.99 trillion.

The lender also cut non-performing loans last year to 2.66 percent from 2.84 percent, BTN president director Maryono said on Tuesday in Jakarta, adding that the increased loan revenue spurred net interest income to grow by 14.45 percent to Rp 9.44 trillion, while operating income rose 25 percent to Rp1.6 trillion.

"Third-party funds reached Rp192.95 trillion, a 20.45 percent increase compared with Rp160.19 trillion in 2016," Maryono said as quoted by Antara.

He noted that mortgage loans still dominated the bank`s credit portfolio throughout 2017, reaching 90.07 percent of all loans the bank extended, while non-mortgage loans increased by 21.14 percent to Rp179.22 trillion from Rp147.94 trillion.

Subsidized mortgage loans recorded the highest growth at 32.45 percent year on year, from Rp 56.83 trillion to Rp 75.27 trillion, while non-subsidized mortgage loans grew by 14.62 percent from Rp 60.46 trillion to Rp 69.3 trillion.

Meanwhile, non-mortgage loans increased by 19.78 percent from Rp16.49 trillion to Rp19.76 trillion, fuelled by a 1.59 percent increase in consumer credit to Rp 4.81 trillion and a 27.12 percent surge in commercial credit to Rp 14.95 trillion. (bbn)

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