News Update
Tuesday, 27 Jun 2023
Jakarta, June 27 2023. The Iconomics, an integrated media focused on business analysis and information, once again held the Indonesia Top Bank Award. This award is given to banks for assessing financial performance from 2021 to 2022.
The assessment methodology is based on the Rank Financial Indicator, which is an assessment given to banks based on financial performance figures in a list of banking groups, while the assessment based on the Rank Financial Growth Indicator is an assessment given to banks for financial performance progress from the previous year.
For this assessment, PT Bank JTrust Indonesia Tbk (J Trust Bank) won the Top Bank 2023 in Conventional - KBMI 1 Category. The award was received directly by J Trust Bank's Compliance and Corporate Legal Director, Felix I Hartadi in Jakarta.
J Trust Bank managed to close the year 2022 with a positive achievement after achieving a net profit of Rp 55.23 billion in the 2022 year-end financial report. This condition is an improvement compared to J Trust Bank's performance at the end of the previous year which still recorded a Net Loss of Rp 445.42 billion. The Bank's catalyst in recording this performance improvement was triggered by gross credit growth of 48.72% to IDR 19.53 trillion and customer deposit growth of 60.93% to IDR 25.66 trillion in December 2022 compared to December 2021.
Meanwhile, interest income was recorded to increase by 69.29% to IDR 1.68 trillion in December 2022 from IDR 991.35 billion in December 2021. The increase in interest income was triggered by an increase in loan interest income which managed to contribute 78.54% of J Trust Bank's total interest income in 2022. J Trust Bank's fairly aggressive credit expansion has still managed to be carried out selectively and still adhere to prudential principles so that the Bank's NPL Ratio continues to improve where J Trust Bank's gross NPL and net NPL in 2022 are at the level of 1.80% and 1.31%.
The Bank's capital condition was also strengthened by the additional capital injection from the Controlling Shareholder, J Trust Co., Ltd. in November and December 2022 amounting to Rp 382.69 billion, bringing the Bank's minimum core capital position to Rp 3.10 trillion and the Bank's Minimum Capital Adequacy Ratio to 14.86% at the end of December 2022.
