News Update
Monday, 04 Nov 2024
Jakarta, October 31, 2024 – PT Bank JTrust Indonesia Tbk (J Trust Bank/Company) was able to continue its positive performance by recording a net profit of Rp 161.22 billion in the third quarter financial report of 2024.
The catalyst for the improved performance was triggered by gross credit growth to Rp 28.13 trillion from Rp 23.60 trillion or grew 19.22 percent YoY (Year-on-Year). Meanwhile, third party funds (DPK) were also seen to increase to Rp 34.18 trillion from Rp 29.73 trillion or by 14.95 percent YoY in the third quarter of 2024 compared to the third quarter of 2023. The combination of this growth ultimately led to the Company’s Loan to Funding Ratio (LFR) increasing from 79.37 percent in Q3 2023 to 82.32 percent in Q3 2024.
Meanwhile, interest income was recorded to increase to Rp 2.27 trillion in the third quarter of 2024 from Rp 1.83 trillion in the third quarter of 2023 or grew 23.68 percent YoY. The increase in interest income was also followed by other operating income which was also recorded to increase to Rp 79.91 billion in the third quarter of 2024 from Rp 21.77 billion in the third quarter of 2023 or grew 267.14 percent YoY.
While in the same period the Company was also able to adhere to the principle of prudence, resulting in the Bank’s NPL (non-performing loan) ratio in the third quarter of 2024 continued to improve, with gross NPL at 1.20 percent and net NPL at 0.91 percent.
On the capital side, the Company was able to maintain its Capital Adequacy Ratio (CAR) at 13.08 percent in the third quarter of 2024. Going forward, the Company is committed to maintaining CAR in a healthy position so that it can support business growth and anticipate related risks. Meanwhile, in terms of profitability, the Company was also able to record growth where the Company’s Return-On-Equity (ROE) increased from 4.71% in the third quarter of 2023 to 6.94% in the third quarter of 2024.
President Director of J Trust Bank, Ritsuo Fukadai said, “The Company’s financial performance is in very good condition supported by optimal loan and third party fund growth. We are optimistic that we can achieve our business targets in 2024”
For additional information, in July 2024, J Trust Bank officially collaborated with Persija ‘Kemayoran Tigers’ to launch a co-branding savings and debit card program entitled TORA-Persija as one of J Trust Bank’s strategies to expand savings market penetration and collect third party funds.
