News Update
Wednesday, 15 May 2024
Jakarta, May 15 2024 – PT Bank JTrust Indonesia Tbk (J Trust Bank) continued its positive performance by recording a net profit of IDR 44.02 billion in the first quarter of 2024. The catalyst for the improved performance was triggered by gross loan growth of IDR 26.10 trillion from IDR 20.05 trillion or growth 30.15 percent YoY (Year-on-Year). The acquisition of third party funds (DPK) grew to IDR 33.53 trillion from Rp25.46 trillion or by 31.69 percent YoY in the first quarter of 2024 compared to the first quarter of 2023.
President Director of J Trust Bank, Ritsuo Fukadai explained “Corporate Banking, Commercial & SME and Business Linkage segments are the main pillars of J Trust Bank's loan growth. J Trust Bank's credit expansion is carried out selectively.”
“We always adhere to the prudent principle. Our credit continues to grow with a better NPL ratio in the first quarter of 2024. J Trust Bank's net NPL stood at 0.67 percent with strong capitalization of 13.3 percent as of March 2024,” continued Ritsuo Fukadai.
Loan growth drove interest income to increase to IDR 724.54 billion in Q1 2024 from IDR 559.25 billion in Q1 2023 or grew 29.56 percent YoY.
Previously, J Trust Bank ended 2023 with a solid capital and liquidity position with a Capital Adequacy Ratio of 14.04 percent and a Liquidity Adequacy Ratio of 120.35 percent, which shows that the Bank is in a good position to continue to grow sustainably.
Gross credit growth grew 22.3 percent YoY to IDR 23.9 trillion. Growth in customer deposits also grew 24.7 percent YoY amounting to IDR 32.0 trillion. Interest income and ongoing cost control contribute to J Trust Bank's net profit in 2023 of IDR 27.9 billion.
In line with business performance, J Trust Bank continues to strengthen its commitment to green financing. Total financing for Environmentally Friendly Business Activities (KUBL) occupies a portion of 24.08 percent of the Bank's total credit portfolio in 2023.
