Jakarta - Sustainable finance is an approach from the financial services sector to support sustainable development goals and climate change. Sustainable finance is a new approach that considers environmental (climate change) and social factors that can increase financial risk for financial institutions.
Sustainable finance is also commonly described as a financial system to support economic growth while reducing pressure on the environment and considering social aspects and corporate governance, such as inequality, human rights, management structures, and executive remuneration. It provides several examples of environmental considerations, including climate mitigation and adaptation, biodiversity conservation and circular economy.
"We appreciate the government's efforts to maintain economic stability and continue to strive to contribute to economic growth through sustainable financing. The growth of low-cost funds is one of our efforts to increase profitability through optimal financing and fundraising," said BCA Syariah President Director Yuli Melati Suryaningrum in Jakarta, Monday (7/8/2023).
In terms of composition, Yuli continued, BCA Syariah's financing distribution was mostly contributed by the commercial segment, which grew 13.3 percent in June 2023 to reach Rp5.7 trillion. Commercial financing accounted for 72.7 percent of total financing with the largest distribution to the manufacturing, agriculture, and wholesale trade sectors. Meanwhile, MSME financing contributed 20.0 percent or Rp1.5 trillion and consumer financing reached Rp579 billion with a composition of 7.3 percent of total financing.
In the distribution of financing to the Sustainable Business Activities (KUB) sector, BCA Syariah recorded growth of 5.4 percent YoY to reach Rp2.5 trillion. BCA Syariah's sustainable financing composition reached 31.4 percent of total financing.
"BCA Syariah is committed to supporting the distribution of financing as our commitment to the implementation of sustainable finance. Currently, financing has been channeled to 7 KUB sectors including eco-efficient products, energy efficiency, biological natural resources, and environmentally friendly transportation. Going forward, we strive to continue to increase the KUB financing portfolio and expand the unreached sectors," Yuli explained.
Net Income Grows 62.9 Percent
PT Bank BCA Syariah (BCA Syariah) achieved positive achievements in the first semester of 2023. BCA Syariah's profit grew by 62.9 percent. Solid growth was shown in all financial performance indicators in assets, financing, and deposits.
BCA Syariah Director Pranta said BCA Syariah is making optimal efforts to capitalize on the momentum of economic growth by increasing the distribution of financing and the acquisition of third party funds.
This was conveyed during the presentation of performance for the first semester of 2023 with the theme Solid Performance and Sustainable Growth at BCA Syariah Head Office, Jakarta (7/8/2023).
BCA Syariah's assets as of June 2023 grew 21.9 percent to reach Rp13.4 trillion compared to Rp12.7 trillion in the same period last year. BCA Syariah's asset growth was supported by the distribution of financing which increased by 11.4 percent to reach Rp7.9 trillion and the acquisition of Third Party Funds (DPK) which grew by 26.0 percent to reach Rp10.0 trillion. The company managed to book a profit before tax of Rp94.8 billion and profit after tax/net profit of Rp73.9 billion or grew at 62.9 percent.
In line with improving economic conditions and increased public consumption, BCA Syariah's consumer financing in June 2023 experienced significant growth, reaching 98.3 percent compared to the same period the previous year. This growth was supported by an increase in the distribution of KPR iB, Gold iB, and multi-service financing. BCA Syariah's financing quality was well maintained as reflected in the low Non-Performing Financing rate of 1.42 percent.
As part of its commitment to improving digital-based services and expanding access to savings products, BCA Syariah launched a new feature in June 2023, namely online account opening through BCA Syariah Mobile. This service development is an answer to the public's desire to be able to open accounts anytime and anywhere.
"Alhamdulillah, this new feature has been very well received by the public. As of early August 2023, BCA Syariah online account opening has reached 11,700 new customers. The growth of low-cost funds and modernization of digital infrastructure will be our main strategies to achieve our double-digit growth target by the end of 2023," said Yuli.