BCA booked Rp 6.6 trillion net profit in 1Q-2020

9 months ago . 1 min read
MP
Marella Putri
Writer at Forbes Indonesia
BCA booked Rp 6.6 trillion net profit in 1Q-2020
Jahja Setiaatmadja, president director of PT Bank Central Asia. Photo courtesy of BCA.

by Elisa Valenta

Country's largest private lender by market value, PT Bank Central Asia (BCA), booked Rp 6.6 trillion in net profit in the first quarter this year, an 8.6% increase compared to the same period last year. The surge was attributed to loan and operational income growths.

BCA recorded operating income growth of 17.3 % year-on-year (YoY) to Rp 19.6 trillion supported by positive credit growth and CASA performance. As of March 2020, the bank's loan portfolio grew by 12.3% (YoY) to Rp 612.2 trillion.

The growth was mainly supported by corporate loans, which increased by 25.4 % (YoY) to Rp 260.4 trillion, while commercial and SME loans rose 5% (YoY) to Rp 191.2 trillion.

However, BCA has lowered its loan growth target to 5%-7% for this year, as the coronavirus outbreak may affect customers. As of May, the bank has restructured loans amounted to Rp 82.6 trillion, with 72,000 debtors, or equivalent to 14% of BCA's total loan portfolio. The company projected the loan restructure could widen to 30% of its entire credit portfolio for the next months.

"We are committed to helping customers through this uncertain economic condition due to the impact of the COVID-19 pandemic," said BCA's President Director, Jahja Setiaatmadja, in a recent virtual conference.

Meanwhile, BCA's bad debt remains steady with a non-performing loan (NPL) ratio of 1.6%, while provision fees increased by 121.9% (YoY), which is in line with the anticipation of the weak credit quality.

MP
Written By
Marella Putri
Writer at Forbes Indonesia
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