Jakarta - PT Bank Central Asia Tbk (IDX: BBCA) and its subsidiaries booked an increase in total loans by 15.5% on an annual basis (YoY) to Rp850 trillion as of June 2024. The growth in total loans was above the industry average. In terms of profitability, the net profit of BCA and its subsidiaries grew 11.1% YoY to Rp26.9 trillion in the first semester of 2024. This growth was supported by quality financing expansion, as well as increased transaction volume and funding.
"Loans to businesses recorded solid growth, both in the corporate and MSME segments. The increase also occurred in the consumer loan segment, supported by the implementation of BCA Expoversary 2024. The event, which was held over two months, attracted a total of around Rp50 trillion in mortgage and motor vehicle loan applications. We are grateful for the trust of our customers, as well as the support from the government and authorities, so that BCA can go through the first half of 2024 well," said President Director of PT Bank Central Asia Tbk, Jahja Setiaatmadja.
Corporate loans were the segment with the highest growth as of June 2024, up 19.9% YoY to reach IDR388.6 trillion. Commercial loans grew 7.9% YoY to IDR127.8 trillion, and SME loans rose 12.7% YoY to reach IDR114.4 trillion. Consumer loan portfolio increased by 13.6% YoY to Rp210.2 trillion, driven by mortgage disbursement which grew 10.8% YoY to reach Rp126.9 trillion and KKB growth of 18.4% YoY to Rp62.1 trillion. The increase in outstanding other consumer loans (mostly credit cards) was recorded at 20.2% YoY to reach Rp17.8 trillion.
Lending to sustainable sectors, including investments in green bonds and sustainability-linked loans, grew 9.3% YoY to Rp198 trillion as of June 2024, equivalent to 23.2% of the total financing portfolio. Consistent in supporting the development of the electric vehicle ecosystem, BCA has disbursed financing for electric motor vehicles of around Rp1.5 trillion as of June 2024, growing 2-fold YoY. BCA also reintroduced the #KaMUKartini Multipurpose Business Credit program, which provides loans with special interest rates starting at 3.21% p.a. for women entrepreneurs. As of June 2024, the distribution of #KaMUKartini Multipurpose Business Loans increased by 250% on an annualized basis.
Improvements in BCA's loan quality accompanied solid loan growth. The loan at risk ratio (LAR) stood at 6.4% in the first semester of 2024, down from 9% a year ago. The non-performing loan (NPL) ratio stood at 2.2%. The NPL and LAR provisioning ratios were at adequate levels, at 190.2% and 71.2% respectively.
On the funding side, total third-party funds (DPK) rose 5% YoY to reach Rp1,125 trillion. Current and savings account (CASA) funds contributed over 82% of total deposits, growing 5.8% to reach IDR915 trillion. The solid growth of CASA was in line with BCA's total transaction frequency, which rose 21% YoY to reach 17 billion in the first semester of 2024, growing 4 times in the last 5 years. In digital channels, mobile and internet banking transaction frequency reached 14.8 billion, up 24% YoY.
In line with solid lending and funding performance, BCA maintained net interest income (NII) growth in the first semester of 2024 at 7.9% YoY, reaching Rp39.9 trillion. Non-interest income rose 12.1% YoY to Rp12.4 trillion. Total operating income reached Rp52.4 trillion, up 8.9% YoY. The improvement in asset quality was accompanied by a decline in BCA's provisioning costs by 6.8% YoY.
"BCA continuously develops myBCA, now presenting a new feature 'Poket Valas'. This feature is a fund pouch with a choice of eight foreign currencies, connected to one account. With this feature, customers can make transactions using foreign currencies anytime and anywhere. Debit and cash withdrawal transactions abroad with foreign currencies can also be done without exchange rate conversion to rupiah," said Jahja Setiaatmadja.
In addition to 'Poket Valas', myBCA registration or login can now use overseas phone numbers from hundreds of countries. myBCA has also been equipped with a Lender Fund Account feature for the needs of customers who are investors in P2P lending. Digital service development was also carried out for KeyBCA, which is now available in the form of an application. As a form of appreciation for customers, BCA presents the Gebyar Hadiah BCA program with prizes such as Vespa LX I Get 125 to Mercedes Benz Cars, which runs from May 1 to August 31, 2024.
Commemorating National Education Day, Bakti BCA held a series of public lectures titled "BCA Shares Knowledge" held at 5 state universities across Indonesia. BCA's Board of Directors attended the public lectures for more than 3,300 students. The BCA Sharing Knowledge program was complemented by a student banking tour to a number of BCA branch offices, as well as makeup training and professional certification of Makeup Artists for Friends with Disabilities. Bakti BCA supported the revitalization of a 10-hectare Cikoneng, Bogor, coffee farmer group farm to increase productivity and income of coffee farmers with international standards. In addition, Bakti BCA once again organized a free halal certificate workshop with a target of 2,000 MSME participants, a 2-fold increase compared to last year. In the health sector, Bakti BCA became a funding partner worth US$ 1 million to support BKKBN and USAID in the Acceleration of Stunting Reduction program in Indonesia. The program is being implemented in 8 districts across Indonesia, and will continue on an ongoing basis. Bakti BCA also collaborated with the Financial Transaction Reports and Analysis Center (PPATK) in organizing a blood drive that collected 411 blood bags.