Realizing the commitment to develop comprehensive and innovative financial services drives positive performance of Bank BTPN in the First Quarter of 2024

Jakarta, April 30, 2024 - PT Bank SMBC Indonesia Tbk (Bank BTPN) managed to achieve positive performance in the First Quarter of 2024 in its efforts to realize the company's commitment to continuously develop comprehensive, innovative, and sustainability-focused financial services.

Bank BTPN recorded a total credit disbursement increase of 24% year-on-year (yoy) to Rp186.56 trillion at the end of March 2024 from Rp149.90 trillion in the same period last year.

The credit disbursement increase includes the financing from PT Oto Multiartha (OTO) and PT Summit Oto Finance (SOF) — OTO Group, following the completion of Bank BTPN's acquisition of these two financing companies at the end of March 2024. Bank BTPN organically achieve a credit disbursement increase outside the OTO Group of 8.5% yoy, primarily driven by the corporate and commercial segments (9%), micro, small, and medium-sized enterprise (MSME) segments (18%), followed by the Jenius segment (154%) and Joint Finance segment (607%). Bank BTPN's assets grew by 18% yoy, from Rp204.00 trillion to Rp239.84 trillion at the end of March 2024.

"Bank SMBBTPNCI will continue to strive not only for financial growth but also to positively impact society through various relevant public empowerment programs for our customers and the community," said Henoch Munandar, President Director of Bank BTPN.

In addition to the credit increase, Bank BTPN also successfully maintains good credit quality. Bank BTPN's gross non-performing loan (NPL) ratio stood at 1.83% at the end of March 2024, lower than the industry average of 2.4% recorded at the end of February 2024.

Amidst high-interest rate conditions, Bank BTPN net interest income increased by 3% yoy to Rp3.02 trillion from Rp2.94 trillion. The increase in net interest income contributed by interest income from loans drove a 1% yoy increase in operational income (consolidated), and the Net Interest Margin (NIM) was maintained at 6.02%.

Bank BTPN's Current Account & Saving Account (CASA) balance recorded a 25% yoy increase from Rp39.57 trillion to Rp49.27 trillion at the end of March 2024. The CASA ratio also increased from 34.0% to 41.0%. Meanwhile, total deposits decreased by 8% yoy to Rp71.00 trillion. Thus, Bank BTPN's total third-party funds (DPK) increased by 3% yoy from Rp116.37 trillion at the end of March 2023 to Rp120.27 trillion at the end of March 2024.

Bank BTPN maintained liquidity and funding ratios at healthy levels, with a liquidity coverage ratio (LCR) reaching 233.6% and a net stable funding ratio (NSFR) of 115.7% as of March 31, 2024. The company recorded a strong capital adequacy ratio (CAR) of 27.8%.

Bank BTPN's net profit after tax (consolidated) attributable to the parent entity owners amounted to Rp544 billion at the end of March 2024, a decrease of 32% YoY. This decrease was due to increased expenses in line with business volume growth and initiatives undertaken by the Bank, higher loan provisions in line with the growth of loans granted, and the company's decision to increase loan provisions in anticipation of the end of credit restructuring relaxation regulations (POJK) by the end of March 2024.

Meanwhile, as of the end of the First Quarter of 2024, Jenius from Bank BTPN has recorded positive growth in the number of registered users by 21% to 5.5 million from 4.6 million in the previous period. Total credit disbursement (Flexi Cash, Digital Micro, Jenius Visa Credit Card, Pay later) showed an increase from Rp1.2 trillion to Rp2.8 trillion. Additionally, third-party funds managed by Jenius also grew by 13% to Rp26.7 trillion.

In January 2024, Jenius as a life finance solution for the digital-savvy community launched the 'Think Unthinkable' campaign. This reaffirms Jenius's spirit of introducing more than 43 innovations and features since its launch in 2016, making Jenius increasingly relevant to the lives of digitally savvy individuals.

Bank BTPN's Commitment Strengthens Inclusive Economy to Create More Meaningful Lives

Support for Bank BTPN customers through the Daya program remains one of the key factors behind the company's positive performance in the First Quarter of 2024. The Daya program aims to enhance the capacity of customers in all segments through four main pillars: financial literacy, self-development, business capacity enhancement, and sustainable living. Throughout January to March 2024, the number of beneficiaries of this program reached a total of 1.4 million, an increase of 40% yoy, through 2,765 activities, an increase of 50% yoy.

"Bank BTPN will continue to prioritize sustainable financial service solutions for all segments, supported by cutting-edge digital technology while integrating sustainability values in every step we take. This initiative reflects the core values we firmly hold in every aspect of the company's professionalism, including integrity, customer focus, proactive and innovative, speed and quality, and synergy. We are ready to empower millions of Indonesians to build more meaningful lives and provide more meaning to the nation's economy," concluded Henoch.

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