JAKARTA - PT Bank Central Asia Tbk (BBCA) distributed credits of IDR 835.7 trillion in the first quarter (Q1) of 2024, growing 17.1% year-on-year (yoy). This growth further boosted revenue and profit of BBCA until March 2024.

Jahja Setiaadmadja, President Director of Bank Central Asia, said that the people’s optimism, especially during Ramadhan and Eid al-Fitr, positively affected credit channelling until March 2024. “The interest of consumer credits is well-maintained, as reflected from high enthusiasm of BCA Expoversary’s offline and online visitors,” he said in the press release quoted Tuesday (23/4).

Throughout Q1 2024, corporate credits went up 22.1% yoy to IDR 389.2 trillion, while commercial credits shifted 9.3% yoy to IDR 125.2 trillion. Furthermore, SME credits of BCA increased 13.5% yoy to IDR 110.4 trillion, as did consumer credits by 14.9% yoy to IDR 201.6 trillion, and others to IDR 9.3 trillion.

On the other hand, the loan-at-risk (LAR) ratio was at 6.6%, down from the same period last year’s position at 9.8%. Non-performing loan (NPL) ratio was at 1.9%, while the allowance ratio of NPL and LAR were at 220.3% and 71.9%, respectively.

BBCA booked net interest income of IDR 19.8 trillion in Q1 2024, while non-interest income was reported at IDR 6.4 trillion. Operating revenue also grew 7% yoy to IDR 26.2 trillion, resulting in net profit of IDR 12.9 trillion or up 11.7% yoy. (LK/ZH)