BERITA SUBANG - Bank Central Asia's net profit increased 18.1 percent in the first half of 2021 from the corresponding period last year despite the pandemic.
In its financial performance report for the first half of 2021, BCA stated its net profit was booked at Rp 14.5 trillion, increased from Rp 12.2 trillion in the same period last year.
The bank said its customers showed "recovery on their business transactions and turnover in the first six months along with improved economic activities."
"Consumer spending saw an increasing trend during the same period. As of June 2021, lending increased 0.8 percent YtD [year-to-date], supported by corporate segment and mortgage with a year to date increase of 2.1 percent and 3.8 percent, respectively," the bank said.
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It added that its commercial and small-medium enterprise loans also started to pick up on quarterly basis in the second quarter of 2021.
On the funding side, current account and savings, or CASA, rose 8.3 percent YtD, owing to "increasing transaction value, larger customer base and expanded ecosystem through partnerships."
"We are pleased to announce resilient results for the first half of 2021. We wish to extend our appreciation to the Government and regulators for the tremendous supports and to our loyal customers who always inspire us in delivering quality services," Jahja Setiaatmadja, the President Director of Bank Central Asia, said in a statement dated July 22.
"We saw some growth tractions in certain economic sectors in the first half of 2021. Mortgage loan demand was visible during our last online Expoversary held in March 2021. In the upcoming months, we cautiously monitor the business environment dynamics particularly during the emergency restriction period to curb the recent Covid-19 cases."
BCA's net interest income grew 3.8 percent year-on-year to Rp 28.3 trillion, while non-interest income declined slightly by 1.2 percent to Rp 10.2 trillion. It attributed the non-interest income fall on the one-off gains from mutual funds sale last year that offset the year-on-year increase in recurring fees and commissions.
Fees and commission rose 7.5 percent on year-on-year basis, above the pre-pandemic level, which mostly contributed by "recovery in transaction banking related fees from increasing number of customers and transaction volume," the bank said.
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