JAKARTA. Following PT Bank Rakyat Indonesia Tbk (BRI) and PT Bank Negara Indonesia Tbk (BNI), another state owned bank, namely PT Bank Tabungan Negara Tbk (BTN) issued 2016 financial statement. Based on the financial statement, BTN booked a high net profits growth, despite of economic slowdown in that year.

During that period, BTN’s profits grew by 41.49% to Rp 2.61 trillion. As comparison, BTN booked a 62% growth in the previous year.

BTN’s profits were mainly contributed by the massive credits allocation. In 2016, BTN’s credits allocation grew by 18.34% to Rp 138.95 trillion. The credit growth in that year was only slightly under the credit growth in 2015 at the level of 19.88%.

BTN’s credit growth was higher than the average credit growth of the banking industry. The data of Analysis of Money Supply M2 show that the credit of national banks only grew by 7.8% in 2016.

During the same period, BTN’s third party funds grew by 25.4% to Rp 160.19 trillion, while the portion of the bank’s cheap funds increased from 48.63% in 2015 to 50.36%.

According to President Director of BTN Maryono, the achievements were driven by the credit and saving growth, as well as by the improvement in assets’ quality. By the end of 2016, the gross non-performing loan (NPL) ratio has dropped from 3.42% to 2.84%.

He is more optimistic in this year. He is targeting that BTN’s credit will grow by 21%-23%. “BTN will increase housing financing in this year,” he said, Monday (13/2).

Consumer Director of BTN Handayani said that non-subsidized mortgages are expected to grow by 33%, while the subsidized mortgage is targeted to increase by more than 17%. In terms of portfolio, BTN will maintain the portions of non-subsidized and subsidized mortgages at the levels of 55% and 45%, he said. (Muhammad Farid/Translator)  

Editor: Sanny Cicilia