JAKARTA. PT Bank OCBC NISP Tbk (NISP) managed to score net profit of IDR 1.03 trillion in the first quarter of 2023, shifting 65.8% year-on-year (yoy) higher.

The net profit growth of NISP in this quarter was propelled by the increase in its net interest income that reached 25.3% yoy, combined with the decrease in its credit loss provision by up to 51.3% yoy.

Parwati Surjaudaja, Presiden Director of NISP, said that the company’s performance in Q1 2023 aligns with the consistent and sustainable business strategy of NISP. It also gains support from recovering economic condition.

“Next, we will focus on establishing inclusive financial services,” Surjaudaja said.

NISP’s satisfactory performance in Q1 2023 was further supported by growth of its assets, up 6.3% yoy to IDR 239.9 trillion. Meanwhile, the gross credit distributed by the company reached IDR 137.6 trillion or shifting 11.6% yoy.

The non-performing loan (NPL) ratio of NISP in Q1 2023 was at 2.4, slightly up from 2.3 seen in the same period last year. Thankfully, the capital adequacy ratio (CAR) of the company in Q1 2023 was higher, at 24.1, compared to the CAR in the same period in 2022 at 22.4. (KR/ZH)