JAKARTA. The apparent surge in its interest income allowed PT Allo Bank Indonesia Tbk (BBHI) to attain net profit of IDR 270.02 billion in 2022. The profit was 40.29% year-on-year (yoy) higher than IDR 192.47 billion recorded in 2021.

The Financial Report of BBHI showed that there was a significant shift in its interest income of up to 117.34% yoy to IDR 767.67 billion. On the contrary, its interest expenses shrank 11.05% yoy to IDR 140.44 billion. Thus, its net interest income skyrocketed as high as 221.14% yoy to IDR 627.22 billion in December 2022. The fee-based income also proliferated 364.81% yoy to IDR 120.20 billion.

Indra Utoyo, President Director of Allo Bank, claimed that his company managed to perform well in its digital platform by acquiring 5 million users. "In the future, we will continue to utilise our collaboration with the CT Corp business ecosystem, our strategic shareholder, as well as other renowned figures in Indonesia in order to obtain impactful growth," he said in the official statement on Thursday (9/3).

Allo Bank's recent corporate action, which was its rights issue last year, has successfully pushed its capital adequacy ratio forward to 79.5%, boasting total equity of IDR 6.4 trillion. Allo Bank also managed to disburse credits worth IDR 7.15 trillion in 2022, increasing 131.39% yoy. (AM/ZH)