JAKARTA. PT Bank Tabungan Negara (Persero) Tbk (BBTN) posted a net profit of Rp 767.58 billion in the first half (1H) of 2020, down 41.24% from Rp 1.31 trillion in the same period last year.
According to a recently-released financial report, the company's net interest income dropped 4.35% yoy to Rp 4.4 trillion in 1H while its other operating income slipped 5.45% yoy to Rp 1.04 trillion.
Bank BTN's significant profit drop in 1H was due to the company raising its impairment loss allowance to 107.90% from 37.87% in 1H-2019.
As of the end of June 2020, the company's net interest margin was recorded at 3.16%, slightly lower than 3.53% in 1H-2019. In addition, its loan-to-deposit ratio (LDR) dropped to 111.27% while its liquidity coverage ratio (LCR) rose to 132.22%.
In mid-July, BTN said it was handling loan restructuring from debtors affected by the coronavirus (COVID-19) pandemic. At the end of 1H, the company's gross non-performing loan (NPL) ratio was at 4.71%, higher than 3.32% in 1H-2019.
In total, BTN's disbursed loans dropped 54.14% yoy to Rp 17.32 trillion. In the same period last year, the company's loan disbursement amounted to Rp 37.78 trillion. (KR/MS)