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SOE banks recorded rapid growth

Selasa, 25 Oktober 2016 / 15:17 WIB

SOE banks recorded rapid growth

JAKARTA. State owned enterprises or SOEs banks have released their financial reports in the third quarter of 2016. PT Bank Negara Indonesia Tbk (BBNI) is the first SOE bank, which issued the financial performance among other banks.

Recently, PT Bank Tabungan Negara Tbk (BBTN), which focuses on the segment of property credit, reported two-digit gworth during the first nine months of 2016. During the third quarter of 2016, BTN succeeded to book a 32.6% of profit growth to Rp 1.6 trillion.

President Director of BTN Maryono revealed that the increases in the bank’s profit growth were mainly caused by the growth of net interest income and fee based income. During the third semester of 2016, the net interest income of BTN increased by 12.9% to Rp 5.5 trillion.

“BTN was able to maintain the high credit growth and the decline in non performing loans (NPL) in a consistent manner, amid the slow economic growth,” Maryono said.

As of September 2016, the credit allocation of BTN has increased by 16.9% to Rp 153.8 trillion, while NPL ratio of BTN dropped from 4.5% to 3.6% during the same period in 2015.

BTN itself targets to control the NPL rate to the level of below 3% by improving the processes of collection and restructurization, as well as accelerating execution process.

Maryono expects that credit will continue to grow by the end 2016. He admitted that the performance of BTN along this year was supported by the program of one million housing, mainly for the low income segment. The number of subsidized house ownership credit (KPR) allocated by BTN has increased by 41.87% as of September 2016.

BRI and Mandiri

Commercial Lending Director of BTN Oni Febriarto Rahardjo added that the policy on the relaxation of loan to value (LTV) has strengthened consumers purchasing power.

“Aside of subsidized home loan, we will boost the allocation of commercial credit or construction credit to fund SOEs’ subsidiaries that related to property sector,” Oni added.

Meanwhile, the consolidated financial performance report of PT Bank Rakyat Indonesia Tbk (BBRI) revealed that the bank booked an Rp 18.95 trillion of current period net profit attributable to owners during the third quarter of 2016. The profit increased by 2.88% from Rp 18.42 trillion during the same period in 2015

The profit rise was driven by a 16.80% of growth of BRI’s net interest income from Rp 42.86 trillion to Rp 50.06 trillion.

Another SOE bank, PT Bank Mandiri Tbk (BMRI) has not yet provided information related to the bank’s profit. President Director of Bank Mandiri Kartika Wirjoatmodjo only said that the demand for credit from Bank Mandiri has improved, mainly in corporate and consumer sectors. “Credit grew by above of 11% during the third quarter of 2016,” Kartika said.

Kartika added that Bank Mandiri will settle the non performing loans (NPLs) in a gradual manner. As an information, Bank Mandiri booked an Rp 538.93 trillion of credit allocation as of August 2016. (Translator: Muhammad Farid)


Reporter: Galvan Yudistira, Nina Dwiantika, Yuwono Triatmodjo
Editor: Sanny Cicilia
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