News Update
Friday, 28 Jun 2024
Jakarta, June 28 2024 - PT Bank JTrust Indonesia Tbk (J Trust Bank/Company) held an Annual General Meeting of Shareholders which was attended by President Director Ritsuo Fukadai along with the Board of Directors and Board of Commissioners of the Company. A number of agendas discussed at the AGMS included the approval of the Annual Report and ratification of the Company's Financial Statements and the Report on the Implementation of the Board of Commissioners' Supervisory Duties for the Fiscal Year 2023, approval of Amendments to the Company's Articles of Association, reappointment of all members of the Company's Board of Directors, and a report on the Realization of the Use of Proceeds from the Limited Public Offering II - 2022 in the context of Capital Increase with Pre-emptive Rights.
In the midst of rising geopolitical tensions and continued uncertainty in macroeconomic conditions, J Trust Bank ended the year 2023 in a strong position with robust capitalization and liquidity. The Bank achieved a profit for the year of IDR27.9 billion. This profit was driven by selective and prudent loan growth, third party funds (DPK) growth supported by effective marketing strategies, as well as various product and service innovations.
The momentum for gross loan growth continued, growing 22.3 percent y-o-y to IDR23.9 trillion. Credit quality remained well maintained with net non-performing loans at 0.7 percent. Customer deposit growth momentum also continued, growing 24.7 percent y-o-y to IDR32.0 trillion. Strong interest income growth and continued cost control contributed to the Bank's strong performance, resulting in a net profit for the year of IDR27.9 billion.
The Bank also managed to generate a strong Capital Adequacy Ratio of 14.04% and a Liquidity Adequacy Ratio of 120.35%, indicating that the Bank is well positioned to anticipate challenging conditions and capitalize on growth opportunities, as well as implement sustainability programs to support environmental resilience.
President Director of J Trust Bank, Ritsuo Fukadai expressed his confidence in the company's performance in 2024 "Although this year will still be filled with challenges and uncertainties, J Trust Bank is optimistic about its future business prospects as national economic growth improves. J Trust Bank will continue to focus on realizing business plans, achieving sustainable growth, and making positive contributions to the community and society."
The year 2023 also marks the momentum of the Company's increasing commitment to mitigating climate change, achieving Net Zero Emission targets and implementing Sustainability aspects. The Sustainability Committee will assist the Board of Directors in developing business activities that always consider, harmonize, and integrate the interests of economic, social, and environmental aspects. Total financing for Environmentally Sound Business Activities (KUBL) will account for 24.08 percent of the Company's total loan portfolio by 2023.
