Jakarta. State-owned bank BTN announced Monday that it had booked about Rp 3.5 trillion ($224.2 million) in net profit, marking a 15 percent year-on-year (yoy) increase. 

The bank attributed the growth to credit and financing which had risen to Rp 334 trillion as of late Dec. 2023, up by 11.9 percent yoy. This is higher than the banking industry’s credit which grew 10.38 percent yoy. 

“BTN’s third-party funds stood at Rp 350 trillion, up 8.7 percent yoy. This exceeds the national banking third-party fund growth of 3.7 percent yoy,” BTN said in a public filing.

Current account savings account (CASA) represented 53.7 percent of the bank's total third-party funds. CASA’s portion also grew from the previous year which reached 48.5 percent.

Total assets went up by 9.1 percent yoy to Rp 439 trillion. BTN, also known by its ticker symbol BBTN, reported that its assets amounted to Rp 402 trillion in 2022.

Add as a preferred source on Google +