- Loan portfolio increased 12.4% and third party funds grew 9.6%
- Sustainable profitability with a net profit growth of 13.1% to Rp 23.3 trillion
Jakarta, 8 March 2018 – PT Bank Central Asia Tbk (IDX: BBCA) and its subsidiaries reported consolidated financial results for the full year 2017, closing the year with an increase in net profit of 13.1% to Rp 23.3 trillion compared to previous year’s Rp 20.6 trillion. The Bank’s operating income as a total of net interest income and non-interest income grew 6.0% to Rp 57.0 trillion in 2017 compared to Rp 53.8 trillion in 2016. Net interest income increased 4.1% to Rp 41.8 trillion while non-interest income grew 11.5% to Rp 15.1 trillion in 2017.
BCA’s President Director, Jahja Setiaatmadja, noted that, “BCA successfully recorded solid performance in 2017 amid the ongoing economic recovery in Indonesia by capturing a number of business opportunities. BCA performance in 2017 was consistent with the increase in both lending and third party funds, particularly in current and savings accounts. BCA’s profitability was further supported by operational efficiency programs and lower provisions expense in line with well-maintained loan quality.”
In 2017 the loan portfolio increased 12.4% to Rp 468 trillion, supported by growth in all segments. Corporate loans grew 14.5% to Rp 177.3 at the end of 2017. The Bank saw high corporate loan disbursement in the last quarter 2017 due to high seasonal demand at year end. Consumer loans increased 12.1% to Rp 122.8 trillion supported by competitive consumer loan products. Within consumer segment, mortgages increased 14.2% to Rp 73.0 trillion, while vehicle loans rose 10.0% to Rp 38.3 trillion in 2017. In the same period, credit card outstanding balances grew 6.9% to Rp 11.5 trillion. Commercial and SME loans increased 10.3% to Rp 167.5 trillion.
BCA’s Non-Performing Loans (NPL) ratio remained at a low level of 1.5% at the end of 2017. The Bank recorded total allowance for impairment losses on loans of Rp 14.6 trillion, a 5.2% increase compared to the previous year. The ratio of total allowance to NPL (loan loss coverage) stood at 190.7%. Meanwhile, the Bank maintained healthy liquidity and a strong capital position. The Loan to Funding Ratio (LFR) stood at 78.2% and Capital Adequacy Ratio (CAR) at 23.1%.
Continuous development of payment settlement services plays an important role in strengthening the Bank’s funding position, in particular of Current Accounts and Savings Accounts (CASA). At the end of 2017, third party funds stood at Rp 581.1 trillion, an increase of 9.6% from the previous year’s
Rp 530.1 trillion. CASA accounted for 76.3% of total third party funds and stood at Rp 443.7 trillion at the end of 2017. Within total CASA, current accounts grew 9.7% to Rp 151.3 trillion and savings accounts rose 8.2% to Rp 292.4 trillion.
“Customer trust is the foundation of BCA’s solid performance that motivates our employees to work towards improving the quality of our products and services, and accommodating evolving customer needs. Adoption of the latest technology improves customers’ experience, supports automation, and thus enhances our operational efficiency,” said Jahja Setiaatmadja, President Director of BCA.
BCA’s Full Year 2017 Results – Bank Central Asia’s (BCA) President Commissioner DE Setijoso (second from the right) and BCA’s President Director Jahja Setiaatmadja (middle) were seen having a discussion at the BCA’s Full Year 2017 Results along with (left-to-right) BCA’s Director Subur Tan, BCA’s Vice President Director Eugene Keith Galbraith, and BCA’s Director Suwignyo Budiman in Jakarta on Thursday (08/03). By the end of December 2017, BCA saw a sustainable profitability with a net profit growth of 13.1% to Rp 23.3 trillion and a 12.4% increase in loan portofolio up to Rp 468 trillion. BCA performance in 2017 was consistent with the rise of both lending and third party funds, particularly in current and savings accounts.
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About PT Bank Central Asia Tbk (as of 31th December 2017)
BCA is one of the leading commercial banks in Indonesia with a core focus on transaction banking business and providing loan facilities and solutions to the corporate, commercial & SME and consumer segments. At the end of December 2017, BCA had the privilege of serving more than 17 million customer accounts, processing millions of transactions every day through 1,235 branches, 17,658 ATMs and more than 470 thousands of EDC machines as well as transactions made over the 24-hour internet and mobile banking systems.
For more information, please contact:
PT BANK CENTRAL ASIA
Corporate Secretary – Corporate Communication Sub-division
Public Relations Office
Address : Jl. MH Thamrin No.1
BCA Grand Indonesia Lt. 22
Jakarta Pusat
Phone : (021) 2358-8000
Fax : (021) 2358-8300
E-mail : humas@bca.co.id
