JAKARTA - PT Bank Pembangunan Daerah Banten Tbk (BEKS) managed to turn the tide, scoring profit of IDR 26.59 billion in 2023, improving from 2022’s loss of IDR 239.28 billion.

In the 2023 Financial Report quoted Wednesday (6/3), this bank’s increased performance was driven by its efficiency strategy in interest expenses, thus allowing the gross profit margin to increase from 2022.

BEKS’s revenue was reported at IDR 42.75 billion, slowing down 1.67% year-on-year (yoy) to IDR 452.75 billion from IDR 460.46 billion. Its net interest income hit IDR 196.27 billion, up from IDR 156.30 billion. Meanwhile, its operating profit was recorded at IDR 29.10 billion, higher than IDR 20.92 billion in 2022.

In 2023, it managed to score revenue from credit segment of IDR 379.34 billion, improving from IDR 363.42 billion, followed by interest income from securities of IDR 41.69 billion, down from IDR 46.73 billion.

Then, the placement in Bank Indonesia (BI) and other banks brought in revenue of IDR 28.12 billion, down from IDR 32.06 billion, followed by current account in BI and other banks of IDR 3.26 billion, up from IDR 2.69 billion; and others of IDR 334 million, significantly dropping from IDR 15.54 billion. (LK/ZH)