JAKARTA - PT Bank Oke Indonesia Tbk (DNAR), which is the result of a merger between PT Bank Dinar Tbk and PT Bank Oke Indonesia, presents strategies to improve its performance in 2023.

According to the disclosure of information on the Indonesia Stock Exchange (IDX), DNAR will focus on strengthening assets, namely expanding its credit portfolio which is now targeting big players, such as loans for financial, commercial and corporate institutions, so as to achieve high profitability.

However, the company also promotes better risk assessment implementation by setting up a reliable credit scoring and credit control system for customer screening. Until the end of 2022, the NPL DNAR ratio was 2.06%.

According to the 2023 First Quarter Financial Report, interest income rose by 60.4% year-on-year (yoy) to IDR 232.87 billion, bringing net profit up 71.65% yoy to IDR 5 billion.

It should be noted that until this year, DNAR was one of the few listed bank issuers on the IDX that had not complied with the minimum free float rule of 7.5%. Based on IDX information disclosure, until April 2023, DNAR’s public shares of less than 5% only reached 5.74% of the total shares.

As reported by Kontan last November, Deputy Director of DNAR, Hendra Lie, explained that the company plans to fulfill the free float in 2023. However, this plan has not been disclosed in the company's financial reports. Then, IDNFinancials was unable to meet DNAR management to ask for information regarding this issue during the DNAR Annual Public Expose. The event that is supposedly available for the media and the general public was held offline today (11/5) at OK!Bank's Head Office in Juanda. (ZH/LM)