BCA Credit Grows 12 Percent Driven by Strong Demand Ahead of Eid Al-Fitr

Armfalcon.com, JAKARTA — PT Bank Central Asia Tbk (BCA) and its subsidiaries recorded an annual increase in total loans of 12 percent or year on year (yoy) as of March 2023. On the profitability side, BCA and its subsidiaries recorded a net profit growth of 43 percent (yoy) to IDR 11.5 trillion in the first quarter of 2023.

He explained that the growth was driven by expansion in credit volume, improved loan quality, and higher yields from placement of funds in state bonds as a source of financing for national development. Also increase in income fees and commissions in line with the increase in the number of transactions.

“In general, we have not raised lending rates to always provide competitive interest rates in the market and encourage economic recovery,” said BCA President Director Jahja Setiaatmadja in a virtual press conference, Thursday (27/4/2023).

Ahead of the Eid al-Fitr celebration, he said, the company saw a strong demand for working capital loans. Consumer credit interest, he continued, continues to improve. This can be seen from the high enthusiasm of the BCA Expoversary 2023 visitors.

“On this basis, we are extending the expoversary closing schedule for more than a month to April 30, 2023. So the public has a longer chance to enjoy special interest rate promos for KPR to KKB,” he said.

He said corporate loans rose 11.7 percent yoy to Rp 320.5 trillion in March 2023 and are still the main contributor to BCA’s total credit. As business activity increased, he continued, commercial and SME loans increased 11.8 percent yoy to IDR 211.1 trillion.

He said BCA’s support for the SME sector was reflected in the Macroprudential Inclusive Financing Ratio (RPIM) which was recorded at 22.1 percent. This figure is above the set target.

Meanwhile, Home Ownership Loans (KPR) grew 11.6 percent yoy to IDR 109.6 trillion. Then Motor Vehicle Loans (KKB) rose 15.2 percent yoy to IDR 47.9 trillion, supported by the BCA Expoversary 2023 event which is currently being held.