JAKARTA - PT Allo Bank Indonesia Tbk (BBHI) decided not to distribute any dividend despite its growth following shares’ acquisition in mid-2021. The entire of its net profit of 2023 is allocated to enhance its capitalisation.

According to IDNFinancials data today (4/6), this digital bank booked net profit of IDR 444.56 billion in 2023, up 64.63% year-on-year (yoy) from IDR 270.02 billion. Meanwhile, in 2022, its profit also grew 40.29% yoy from IDR 192.47 billion seen in 2021, which also an increase of 420% yoy from 2020 net profit of IDR 37.02 billion

Net interest income (NII) was also seen consistently improving within the past four years since 2020. In 2023, NII was at IDR 1.03 trillion, up from IDR 627.22 billion in 2022. In 2021 it was IDR 195.31 billion, up from 2020 NII of IDR 47.59 billion.

As of now, Allo Bank’s stock consists of 21.73 billion shares, 60.88% of which are dominated by PT Mega Corpora. PT Bukalapak.com Tbk (BUKA) has another 11.49%, followed by PT Indolife Investama of 6%, PT Abadi Investment of 7%, and public investors of 14.58%. (LK/ZH)