PT Bank Permata Tbk (“PermataBank” or “Bank”) ended the first semester of 2022 with another solid performance, which was the result of prudent, consistent and sustainable implementation of its business strategies as reflected in the Bank’s asset growth, liquidity and net profit. Amid the Indonesian Government’s efforts to maintain national economic stability in the face of uncertain global economic conditions and the optimism brought on by the G20 presidency in Indonesia, PermataBank managed to record a Net Profit after tax of Rp1.4 trillion increasing 123.7% year-on-year (yoy). The Net Profit growth was contributed by an Operating Income of Rp5.6 trillion, growing by 13.6% (yoy) and further supported by a Net Interest Income growth of 6.7% (yoy). This achievement further strengthens PermataBank's position as a universal bank in providing products and services to all segments across generations and in the ranks of the top 10 commercial banks in Indonesia.
Meliza M. Rusli, President Director of PermataBank said, “PermataBank’s first semester results is a culmination of our efforts in implementing our strategy to continue strengthening innovation in our digital banking products and services, deepening strategic partnerships, and becoming a part of our customers' daily activities in conducting financial transactions. Going forward, we will continue maintaining growth and profitability through healthy credit growth, a strong risk management framework and prudent principles.”
PermataBank also achieved asset growth of 7.9% (yoy) to Rp230 trillion. Furthermore, loan provisions costs decreased by 33.9% to Rp994 billion compared to Rp1.5 trillion last year in line with the improvement in loan quality compared to the same period last year. The impact of the decrease in the cost of credit provision was also reflected in the improvement in the ratio of Operating Expenses to Operating Income (BOPO) to 74.2% or an improvement of 11.8% compared to the BOPO ratio of 86.0% in the first half of last year.
PermataBank’s commitment to lending to the public grew 11.4% (yoy) to Rp134.7 trillion, mainly driven by growth in corporate loans and mortgage loans of 14.2% and 19.5% respectively. Subsequently, the Bank's RIM ratio also improved to 78% from the previous 70% in the first quarter of 2022. Moreover, the Bank continues to apply prudent principles in disbursing loans given the uncertainty of global economic conditions and the ongoing impact of the pandemic which affects inherent credit risk. The gross NPL ratio at the end of June 2022 was at a level of 3.1%, improving slightly compared to 3.2% at the end of December 2021. The net NPL ratio, which reflects a prudent approach in determining the credit loss reserves, also improved to 0.5% compared to 0.7% at the end of December 2021. The NPL coverage ratio is well maintained at around 230%, or an increase compared to 218% in the same period last year. The Bank continues to manage non-performing loans through restructuring, litigation, and asset sales.
In terms of funding, customer deposits grew solidly by 10.3% (yoy), mainly contributed by the growth in Current Accounts by 37.7% and Savings by 11.2% in line with the Bank's strategy to continue to focus on growth in CASA, which provides affordable and stable sources of fund in growing the Bank’s deposit franchise. In line with this, the Bank's CASA ratio increased to 58.7%, increasing from the position at the end of December 2021 at 54.0%. These results reflect a well maintained liquidity position to support lending with more competitive interest rates in the long term.
The Bank's capital ratio, one of the strongest among the top 10 Commercial Banks, with a CAR and CET-1 ratio of 33% and 25% respectively, is a key enabler for the Bank to accelerate business growth both organically and inorganically. Furthermore, while maintaining a balance between attractive returns for shareholders and maintaining the Bank's optimal capital structure, in the second quarter of 2022, PermataBank has distributed dividends of Rp307 billion or Rp8.5 per share in the form of cash dividends for the financial year ending December 31, 2021 to the eligible shareholders.
PermataBank made notable achievements in the first half 2022, receiving various awards including six Asia Pacific Stevie Awards 2022 for innovation in marketing, “Indonesia Consumer Financial Service Award 2022” from Investor magazine for PermataBank Syariah, and Best Overall Performance for PermataBank and PermataBank Syariah along with 5 other awards from the “19th Infobank Banking Service Excellence Awards 2022”.
PermataBank continues to invest in digital technology which contributes to accelerating the Bank's volume growth and sales. During the first half of 2022, the Bank's total number of e-channel transactions increased by 24.2% yoy and the number of PermataMobile X users increased by 42% yoy.
In expanding segments and deepening customer relationships, as part of Bangkok Bank Group and through its international network, expertise and scale, PermataBank continues to broaden its partner ecosystem and build synergies in corporate banking and cross-border initiatives.
PermataBank has also made a positive contribution towards promoting national economic recovery by supporting B20 Indonesia 2022 as Bronze Sponsor through a series of activities until the G20 Summit in November 2022. PermataBank's support of B20 Indonesia 2022 which is part of the G20 Indonesia presidency, aligns with the Bank’s mission to support collaborative recovery and growth, drive an innovative global economy, while setting up an inclusive and sustainable future.
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