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DIVIDEND DISTRIBUTION - JAKARTA. PT Bank Tabungan Negara Tbk (BBTN) is set to distribute dividends worth IDR 700.19 billion from the total profit obtained in 2023. The decision was made in the Annual General Meeting of Shareholders (AGMS) held on March 6, 2024.
The amount of dividends distributed is equivalent to 20% of the total 2023 profit of IDR 3.5 trillion. Compared to the previous year, the dividend ratio distributed is larger than last year's which reached 18%.
In detail, from the total dividend of IDR 700.19 billion, IDR 420.11 billion will be distributed to the state which holds 60% of BTN shares. The rest will be distributed to public shareholders.
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For information, BTN performed well last year. The bank managed to pocket a net profit of IDR 3.5 trillion throughout 2023 or grew by 14.94% annually (year on year/YoY).
The bank's profit was supported by an increase in non-interest income. Where, this post experienced an increase of about 124.37% annually to IDR 3.82 trillion.
On the other hand, BTN recorded a decrease in net interest income throughout 2023. The value decreased from 2022 which was IDR 15.15 trillion to now IDR 13.62 trillion.
Understandably, the era of high interest rates seems to add to the interest burden that BTN has to bear. The bank recorded an interest expense increase of about 36.38% YoY to IDR 14.65 trillion.
