Bank Jago recorded third-party funds surge in H1 2022

21 July 2022 14:47

JAKARTA – PT Bank Jago Tbk (ARTO) collected third-party funds of IDR 6.1 trillion in the first half of 2022, which proliferated heavily by 253% from the same period in 2021.

Kharim Siregar, President Director of Bank Jago, also mentioned that this massive surge in third-party funds was accompanied with increases in the credit distribution and the number of digital banking users. “The third-party funds from January to June 2022 had increased 65.9% or IDR 3.68 trillion,” he added in the press release quoted Thursday (21/7).

The third-party funds were dominated by cheap funds or current accounts and savings accounts (CASA) of IDR 3.87 trillion, followed by deposits of IDR 2.23 trillion. With said amount of CASA, the ratio of CASA to third-party funds reached 63%, indicating improvements in the financial structure of this bank.

Furthermore, Bank Jago also distributed credits and sharia financing worth IDR 7.26 trillion, shifting rapidly from the number recorded in the same period last year of IDR 2.17 trillion. In comparison, the financing distribution in December 2021 arrived at IDR 5.37 trillion, meaning that the credit channelling of Bank Jago had progressed as high as IDR 1.89 trillion in H1 2022. (LK/ZH)

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