JAKARTA - PT BPD Jawa Timur Tbk (BJTM) scored IDR 620.86 billion of profit in the first half (H1) of 2024, 13.78% year-on-year (yoy) lower from IDR 720.14 billion seen in the same period last year. This decline resulted from increased operational costs.

Based on Financial Report of H1 2024 quoted Friday (27/9), gross interest and sharia income was IDR 3.87 trillion, up from IDR 3.51 trillion in H1 2023. Then, net interest and sharia income also increased to IDR 2.65 trillion from IDR 2.41 trillion. Meanwhile, other operating income grew to IDR 372.96 billion from IDR 308.97 billion.

However, operating profit slipped to IDR 831.12 billion from IDR 951.95 billion. It was caused by higher other operational costs, such as employees’ wages, general and administrative expenses, and allowance for loss from financial asset depreciation, and other expenses.

This Indeks52 constituent reported lower assets, as well, arriving at IDR 101.24 trillion, down from December 2023 assets of IDR 103.85 trillion. Total liabilities also shrank to IDR 87.57 trillion from IDR 89.33 trillion, as did total equity to IDR 11.87 trillion from IDR 12.15 trillion recorded in December 2023. (LK/ZH)