After six years of drought, Bank Jago finally scored a profit this September
JAKARTA. Credit channelling of PT Bank Jago Tbk (ARTO) that massively proliferated by 502% by September to IDR 3.73 trillion had allowed Bank Jago to finally record a net profit. This positive performance had become the notable achievement reported by the bank that had continuously posted losses in the past six years.
Kharim Siregar, President Director of Bank Jago, confirmed that the net profit was especially reported by the end of Q3 2021 due to the surge in credit growth. Moreover, its non-performing loan ratio was also at an all-time low, supported by the increase in its current account saving account (CASA). Siregar announced these achievements in the official statement earlier today (22/10).
According to Siregar, the credit distribution growth in September 2021, reaching IDR 3.73 trillion, occurred mostly in the third quarter of the year. It recorded an IDR 1.56 trillion shift from the position reported in the last quarter (quarter-to-quarter/qtq).
“We see a consistent business growth from time to time. We would maintain this momentum by continuously extending collaborations and integrating with a digital ecosystem,” Siregar added. (AM/ZH)