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Jakarta Post

BTPN’s assets hit Rp 100t, profit up 61 percent

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, January 24, 2019   /   04:50 pm
BTPN’s assets hit Rp 100t, profit up 61 percent The logo of Bank Tabungan Pensiunan Nasional (BTPN) (Courtesy of/Bank BTPN)

Publicly listed lender Bank Tabungan Pensiunan Nasional (BTPN) recorded total assets worth Rp 101.9 trillion (US$7.19 billion) in December 2018, or 7 percent year-on-year growth from Rp 95.5 trillion in 2017, following a merger with PT Bank Sumitomo Mitsui Indonesia.

“We are grateful. Because of the support from all parties, BTPN grew extraordinarily in the last decade and now has assets worth more than Rp 100 trillion,” said BTPN president director Jerry NG in a press statement issued on Thursday.

The bank says financing was recorded at Rp 68.1 trillion or 4 percent growth, while funding was recorded at Rp 80.5 trillion or 5 percent growth.

The lender’s assets were recorded at Rp 10.6 trillion in 2007, while financing and the third party funds the bank managed were at Rp 7.85 trillion and Rp 8.80 trillion respectively, Jerry said, adding that significant growth started when it held an initial public offering in 2008.

“BTPN is entering a new era. We are proud that the bank was merged in a healthy and strong condition,” Jerry said, adding that BTPN was now more efficient and competitive because of its transformation and digital innovation in the last three years.

“We do not only create products and services using digital services. We also carry out digitalization in existing businesses. Now, BTPN is more integrated and focused on the fulfillment of customers’ needs -- quick, easy and secured services.”

Because of the improvements, he added, BTPN could cut operational costs and increase profits by 61 percent to Rp 1.97 trillion in 2018. (bbn)

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