PT Bank Permata Tbk ("PermataBank" or "the Bank") has once again achieved solid performance in the first semester of 2023. This is reflected in the 25.5% growth of Pre-Provisions Operating Profit (PPOP), reaching Rp3 trillion compared to the same period last year. The Bank has maintained good asset quality, liquidity, and capital management, ensuring a safe operating level. It has consistently implemented a sustainable business strategy to maintain positive momentum in its business performance. This achievement further strengthens PermataBank's position as one of the largest commercial banks in Indonesia.
Meliza M. Rusli, President Director of PermataBank, stated, "In the first semester of 2023, PermataBank not only consistently improved its financial performance but also maintained the quality of assets and credit portfolios, especially in the uncertain global economic climate. In this quarter, we have also strengthened our synergy with Bangkok Bank and launched the campaign 'One Family, One Team,' a significant step in realizing our shared vision and mission in serving our customers."
The Bank's total revenue grew by 15.2% compared to the first semester of 2022, reaching Rp6 trillion, driven by a 14.6% increase in Net Interest Income to Rp4.9 trillion.
In the first semester of 2023, the Bank's credit disbursement increased by 2% YoY to Rp137.4 trillion, contributed by Mortgage and Corporate Loans.
The Bank consistently applies prudent asset quality and credit portfolio management based on cautious principles at all times. This is evident from the Gross Non-Performing Loan (NPL) ratio and Loan at Risk (LAR) ratio, which improved to 2.9% and 9.6%, respectively, in June 2023, compared to 3.1% and 12.2% in June 2022. Moreover, the Bank maintains sufficient reserves to cover potential credit risks, with NPL coverage and LAR coverage ratios at 272.3% and 81.6%, respectively.
As the Bank's asset quality improves, the Cost of Credit ratio declined to 1.8% in the first semester of 2023, compared to 2.1% at the end of 2022.
PermataBank remains committed to resolving non-performing loans through restructuring, litigation, and asset sales.
Total customer deposits increased by 8% to Rp185.5 trillion. The Bank continues to focus on increasing low-cost deposits (CASA), with the CASA ratio standing at 56.4% by the first semester of 2023.
Through disciplined cost management, optimal operational efficiency, and agile digital work practices, the Bank achieved an improved Cost to Income (CIR) ratio of 49.9% in June 2023, compared to 54.2% in the same period last year.
Regarding capital adequacy, PermataBank stands as one of the commercial banks in Indonesia with a strong capital structure, as reflected in its CAR ratio of 39% above the minimum regulatory requirements. This solid foundation provides ample opportunities for prospective business growth in the future, whether through organic or inorganic means.
To reward shareholders' investments and maintain an optimal capital structure, PermataBank distributed a total dividend of Rp542 billion or Rp15 per share in cash dividends for the fiscal year ending on December 31, 2022, during the second quarter of 2023.
PermataBank’s New Spirit
PermataBank continues to strengthen its position as a universal bank, providing products and services to all generations, supported by continuous innovation in relevant product offerings and services that leverage the latest technology and digital platforms.
Together with Bangkok Bank as its parent company, PermataBank collaborates closely in various areas, such as banking transactions, trade finance, treasury, and project finance. Additionally, they align their visions and missions through the campaign “One Family, One Team,” symbolizing a strong partnership and commitment to serving customers wholeheartedly.
In recognition of its service excellence, PermataBank received the Diamond Recognition - 20 Consecutive Years in Service Excellence (Conventional) and Platinum Recognition - 10 Consecutive Years in Service Excellence (Sharia Business Unit) at the Banking Service Excellence 2023.
"Serving customers with a customer-centric approach and providing faster, more efficient, and secure banking experiences have been the key to our success in maintaining customer loyalty. This is also a contribution from our employees who have worked #DenganHati in serving PermataBank's customers," concluded Meliza.
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