The CKPN value increased by 21.34 percent year-on-year from Rp1.79 trillion to Rp2.18 trillion in September 2019, Acting President Director of Bank BTN, Oni Febriarto R, said here on Thursday.
As for its ratio, the bank's CKPN rose to 52.67 percent in September 2019, from 38.58 percent in the same month of the previous year.
PSAK 71 is an international financial reporting standard issued by the International Accounting Standard Board and will be followed by banking in 2020.
"With the allocation increase to CKPN, our net profit is Rp801 billion in Q3. Until the end of this year, we target the CKPN ratio to continue to rise above 70 percent," Oni said.
The net profit was contributed by interest revenue and efficiency achieved by the state-owned bank. The interest revenue of BTN surged 17.97 percent yoy to Rp19.3 trillion or above the credit growth at 16.75 percent yoy.
BTN was efficient by cutting operational costs outside CKPN, which was only 1.3 percent yoy per September 2019. Its asset grew 16.12 percent (yoy) per September 2019, from Rp272.3 trillion in Q3 of 2018 to Rp316.21 trillion in Q3 this year.
The interest revenue grew as BTN managed to provide credits to individuals reaching Rp256.93 trillion, or up 16.75 percent.
In September 2019, BTN also provided housing credits for 610,526 houses valued at Rp50.74 trillion, or 76.31 percent of BTN's target in support of the national housing program.
"In total, until the end of this year, BTN has set a target of providing credits for 800 thousand houses," he said.
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