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BANKING - JAKARTA. PT Bank JTrust Indonesia Tbk (BCIC) has reported a positive performance for the first quarter of 2024. The bank recorded a net profit of IDR 44.02 billion for the period from January to March 2024.
The net profit of BCIC was driven by growth in gross loans amounting to IDR 26.10 trillion, up from IDR 20.05 trillion, marking a year-on-year (YoY) growth of 30.15%.
Regarding BCIC's liquidity, the total third-party funds (DPK) collected grew by 31.69% YoY to IDR 33.53 trillion. In the same period in 2023, BCIC recorded a DPK of IDR 25.46 trillion.
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J Trust Bank's CEO, Ritsuo Fukadai, stated that the Corporate Banking, Commercial & SME, and Business Linkage segments were the main pillars of J Trust Bank's loan growth.
"J Trust Bank's credit expansion is carried out selectively,” he said in a release on Thursday (7/5).
In line with the increase in loans granted, JTrust continues to maintain the quality of their loans with a non-performing loan (NPL) ratio in the first quarter of 2024 that is improving.
JTrust Bank's net NPL stood at 0.67% with the bank's strong capitalization, with a Capital Adequacy Ratio of 13.3% as of March 2024.
Interest income also increased to IDR 724.54 billion in the first quarter of 2024, up from IDR 559.25 billion in the first quarter of 2023, marking a YoY growth of 29.56%.
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Their gross loan growth increased by 22.3% YoY to IDR 23.9 trillion. Customer deposit growth also increased by 24.7% YoY to IDR 32.0 trillion.
Continued interest income and cost control contributed to J Trust Bank's net profit in 2023 of IDR 27.9 billion.
In line with business performance, JTrust Bank continues to strengthen its commitment to green financing. Total financing for Environmentally Friendly Business Activities (KUBL) accounted for 24.08% of the bank's total loan portfolio in 2023.
