JAKARTA. Consistency of PT Bank Pembangunan Daerah Jawa Timur Tbk (BJTM) in distributing dividends each year has allowed this East Java regional bank to maintain its status as constituent of Indeks Tempo-IDNFinancials 52 under High Dividend category.

Indeks52, launched by Tempo and IDNFinancials on June 23, 2023, has entered its second year. After reviewing their 2023 annual reports, 84 issuers are listed as constituents of Indeks52, which consists of 4 categories: MainIndex, High Growth, High Dividend, and Big Market Capitalisation.

After highly selective review, BJTM is put under High Dividend category with an average dividend yield of 8.1%. It is even higher than the average return or interest of deposit in banking these days.
For 5 consecutive years, BJTM has allocated dividends to its shareholders with an average payout ratio of over 50%. Within this period, BJTM’s highest dividend was taken out of its 2023 net profit, allocating IDR 54.39 per share or dividend payout ratio of 55.55%.

This generous amount of dividend is possible thanks to its great achievement in 2023, as seen in net interest and sharia income of IDR 7.36 trillion, or 6.90% year-on-year (yoy) higher from IDR 6.88 trillion.

Meanwhile, its assets also climbed a shy of 0.8% yoy to IDR 103.85 trillion in 2023 from IDR 103.03 trillion. In the meantime, total equity in 2023 also increased 6.16% yoy to IDR 12.15 trillion from IDR 11.45 trillion.

In general, BJTM is deemed to have met the expectation of its stakeholders. Several targets have been realised in 2023, including credit distribution rate that had met 100.04% of its target in 2023, amounting to IDR 54.76 trillion.

In terms of revenue, its net interest income also hit 104.44% of the 2023 target with realisation of IDR 7.36 trillion. Its CAR ratio in 2023 is 25.71%, achieving 118.26% of 2023 target. (AM/ZH)