News Update
Thursday, 25 May 2023
Jakarta, May 25, 2023 - PT Bank JTrust Indonesia Tbk (J Trust Bank) signed a Bancassurance Cooperation Agreement (PKS) with PT MNC Life Assurance (MNC Life) for credit life insurance products through a reference business model. Located at MNC Financial Tower, Jakarta, the President Director of J Trust Bank, Ristuo Fukadai and Risye Dillianti were present along with the senior management of both parties.
President Director of J Trust Bank, Ritsuo Fukadai said "We are very pleased to be able to work with PT MNC Life Assurance as one of the trusted insurance service providers in Indonesia. J Trust Bank is committed to always providing products and services that not only answer customer needs but also provide protection, security, and comfort, one of which is through Credit Life Insurance products from MNC Life."
In line with Ritsuo Fukadai, Director of MNC Life, Risye Dillianti explained "This collaboration is carried out to expand the business of both parties, both MNC Life and J Trust Bank. We hope that this cooperation in the future will not only be for credit life insurance products, but can continue to other cooperation. We truly believe, with this cooperation, MNC Life together with J Trust Bank will grow rapidly."
Referring to the results of the Bank Indonesia Banking Survey for the first quarter of 2023, respondents were optimistic about future credit growth, with a forecast for credit growth for the whole of 2023 of 10.4 percent (year on year), growing positively although not as high as the realization of credit growth in 2022 of 11.4 percent (year on year). The optimism is partly driven by monetary and economic conditions as well as relatively manageable risks in lending. (source: https://www.bi.go.id/).
In line with this, as of December 2022 J Trust Bank's credit grew by 95 percent to IDR 19.53 trillion from the previous IDR 10.01 trillion as of December 2021 with 3 main supporting segments from Corporate, Business Linkage (Multifinance), and Commercial & SME. Meanwhile, on the deposit side through savings, current account, and deposit instruments, the Bank collected third party funds of IDR 25.66 trillion or grew 61 percent from the previous IDR 15.95 trillion at the end of December 2021. J Trust Bank is optimistic that it can continue to achieve credit and third party fund growth in 2023.
Closing 2022 J Trust Bank recorded a positive performance of IDR 86.6 billion compared to a net loss of IDR 445.4 billion in December 2021. This shows the Bank's strong fundamental conditions supported by the socio-economic conditions after the Covid-19 pandemic had a positive impact on the achievement of the Bank's performance during 2022.
