BTN posts Rp3.02 trillion in net profit

BTN posts Rp3.02 trillion in net profit

State-owned lender Bank Tabungan Negara (BTN) . (special)

Jakarta (ANTARA News) - State-owned lender Bank Tabungan Negara (BTN) has posted a net profit of Rp3.02 trillion last year, up 15.59 percent from the preceding year.

The profit was fuelled by income from the distribution of loans and the improving ratio of non-performing loans to 2.66 percent from 2.84 percent, BTN President Director Maryono said here, Tuesday.

Last year, the bank extended Rp198.99 trillion in credit, up 21.01 percent from Rp164.44 trillion the year before.

"The third party fund placement reached Rp192.95 trillion, a 20.45 percent increase compared with the Rp160.19 trillion in 2016," he said.

Income from the distribution of loans pushed the net interest income by 14.45 percent to Rp9.44 trillion, while the operating income rose 25 percent to Rp1.6 trillion, he remarked.

He noted that home loans still dominated the bank`s credit portfolio throughout 2017, reaching 90.07 percent of the total loans extended by the bank.

The amount of home loans rose 21.14 percent to Rp179.22 trillion from Rp147.94 trillion.

Subsidized home loans recorded the highest growth of 32.45 percent year on year, from Rp56.83 trillion to Rp75.27 trillion, while non-subsidized home loans grew 14.62 percent to Rp69.3 trillion from Rp60.46 trillion.

Non-home loans rose 19.78 percent from Rp16.49 trillion to Rp19.76 trillion, fuelled by a 1.59 percent increase in consumer credits to Rp4.81 trillion and a 27.12 percent surge in commercial credits to Rp14.95 trillion.

Reported by Indra Arief Pribadi