JAKARTA - PT Bank J Trust Indonesia Tbk (BCIC) recorded a net profit of Rp 8.80 billion in the first quarter of 2020, much better than its record in Q1 2019, when the company recorded a loss of Rp 165.79 billion.
The achievement was supported by the fact that the company managed to increase its net interest income 188.91% from Rp 29.44 billion in March 2019 to Rp 85.08 billion in March 2020. The company's operational expense reduced by 46.46% from Rp 152.08 billion (Q1/2019) to Rp 81.42 billion (Q1/2020), resulting in a turn of fate for the company, recovering from an operational loss of Rp 122.63 billion (Q1/2019) to profit of Rp 3.66 billion (Q1/2020).
In addition, the bank managed to increase its total asset value to Rp 19.50 trillion and its capital adequacy ratio (CAR) to 13.11%. Meanwhile, third-party funds (DPK) also grew by 14.44% to Rp 14.66 trillion, and liquidity coverage ratio (LCR) rose to 187.92%.
President Director of J Trust Bank Ritsuo Fukadai is optimistic that the bank will continue to grow, not only by becoming more selective in distributing credit, but developing businesses with good governance. (ARM/AR)