JAKARTA. PT Bank Central Asia Tbk (BBCA), the bank with the highest market capitalisation in Indonesia, recorded net profit of IDR 48.6 trillion in 2023.

BBCA’s net profit grew 19.4% year-on-year (yoy) in 2023. Its growth is in line with the net interest income increase of 17.5% yoy to IDR 75.4 trillion. Then, non-interest revenue also grew 5.5% yoy to IDR 23.9 trillion.

“We are thankful for our users’ trust and support from the government and authority, allowing BCA to overcome 2023 with a solid performance,” Jahja Setiaadmadja, President Director of BBCA, mentioned in the information disclosure.

BBCA’s performance in 2023 was supported by the increase of disbursed credit of 15% yoy to IDR 810.4 trillion. This shift was driven by corporate credits that shifted 15% yoy to IDR 368.7 trillion, commercial credits that grew 7.5% to IDR 126.8 trillion, MSE credits that shifted 16% yoy to IDR 107.9 trillion, House Ownership Credit that rose 11.7% yoy to IDR 121.8 trillion, and consumer credits that grew 14.8% yoy to IDR 198.8 trillion.

In terms of funding, BBCA managed to raise third-party funds of IDR 1,102 trillion in 2023, shifting 6% yoy. The contribution of current accounts and saving accounts (CASA) is equal to 80% of total third-party funds.

Credit growth is fortunately accompanied with consistent improvement on credit quality. Loan-at-Risk (LAR) of BBCA was recorded at 6.9% at the end of 2023, while in 2022, it was still at 10.5%. Non-performing loan (NPL) ratio was also stable at 1.9% in 2023. (KR/ZH)