Allo Bank's (BBHI) Profit jump 64.6% to IDR 444.56 Billion in 2023

February 01, 2024, 11.13 PM  | Reporter: Adrianus Octaviano
Allo Bank's (BBHI) Profit jump 64.6% to IDR 444.56 Billion in 2023

ILUSTRASI. Customer activity at the AlloBank ci Jakarta branch office, Friday (10/3). Photo: KONTAN/Carolus Agus Waluyo/10/03/2023

ISSUER NEWS - JAKARTA. PT Allo Bank Indonesia Tbk (BBHI) recorded a stellar performance in 2023. Evidently, Allo Bank was able to record a profit growth of up to 64.6% annually (YoY) in 2023.

Based on its financial report (31/1), the bank owned by conglomerate Chairul Tanjung recorded a profit of IDR 444.56 billion in 2023. In the previous year, the bank's profit was only IDR 270.03 billion.

This positive performance was supported by the growth of net interest income which was successfully recorded at IDR 1.04 trillion. This achievement grew by about 65.2% from the previous year.

This is in line with the growth of credit disbursement by Allo Bank during that period. Where, its credit disbursement grew 2.38% to IDR 7.32 trillion 

Read Also: Liquidity Tightens, Allo Bank Believes It's Still Within Safe Limits

On the other hand, non-interest income recorded by Allo Bank was corrected during that period to IDR 122.57 billion. For comparison, the previous year's non-interest income of Allo Bank was recorded at IDR 133.52 billion.

Not only that, the digital bank owned by CT Group also seems to still be burdened by increasing operational costs. In 2023, its operational costs rose 48.89% YoY to IDR 535.83 billion.

Meanwhile, the total assets owned by Allo Bank throughout 2023 have now reached IDR 12.75 trillion. This figure continues to rise from the same period the previous year which was only about IDR 11.06 trillion.


Editor: Syamsul Azhar

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