JAKARTA - PT Bank Amar Indonesia Tbk (AMAR) managed to record an excellent financial performance in 2019 by scoring a net profit of Rp 61 billion, soared four-fold compared to the achievement in 2018 amounting to Rp 16.29 billion.
Vishal Tulsian, President Director of Amar Bank said, "Throughout 2019, Amar Bank experienced positive growth with excellent performance amid tight liquidity. This performance was driven primarily by the digital transformation applied by Amar Bank towards Tunaiku products and an increase in Tunaiku's productive loans."
The increase in AMAR's net profit was supported by interest revenue which jumped 112.4% from Rp 306.94 billion in 2018 to Rp 651.93 billion at the end of 2019. The largest contribution of interest income came from the loans segment amounting to Rp 596.45 billion, increased dramatically compared to the previous year amounting to Rp 288.19 billion.
In addition, other operating income also climbed from Rp 49.34 billion in 2018 to Rp 127.69 billion at the end of 2019. Amar also posted an increase in provision on impairment losses at Rp 339.31 billion and operating expenses at Rp 209.90 billion. With interest revenue growth in 2019, Amar Bank managed to record a net profit of Rp 61 billion. (LM)