JAKARTA - PT Bank Central Asia Tbk (BBCA) and its subsidiaries closed 2021 with a total credit growth of 8.2% yearly (YoY) in line with the national economic recovery. Credit growth occurred in almost all segments, mainly supported by the corporate and mortgage segments. Digital innovation and the development of a business ecosystem have driven the frequency of online transactions to record highs.
This achievement supported current account and savings account (CASA) to increase by 19.1% YoY in December 2021. The growth in funds and loans was accompanied by an increase in asset quality, so that provision costs decreased by 19.6% compared to the previous year. Overall, BCA and its subsidiaries posted a net profit of IDR 31.4 trillion in 2021, or grew 15.8% YoY.
"We appreciate the efforts of the government and authorities in controlling the pandemic and providing a stimulus package, as an effort to restore the national economy. BCA also supports the recovery momentum by channeling credit to various sectors. To encourage consumer credit, we took the initiative to hold a number of virtual events such as the BCA Online Expoversary, KPR BCA ONLINEXPO, KKB BCA Virtual Mall, to the online "UMKM Fest". In 2021, we also launched several new applications, namely myBCA, haloBCA, and BCA merchants to complement BCA's digital platform. One of BCA's subsidiaries, Bank Digital BCA, has launched the "blu" application which is specifically designed to serve the millennial segment," said President Director of PT Bank Central Asia Tbk, Jahja Setiaatmadja.
New credit disbursement in the corporate segment has doubled compared to pre-pandemic levels, while the SME and mortgage segments were also able to exceed the achievements in 2019. In line with this achievement, corporate loans rose 12.3% YoY to reach IDR 286.5 trillion in December 2021, becoming the main support for BCA's total credit growth. KPR, which was the second highest contributor, grew 8.2% YoY to IDR 97.5 trillion.
Commercial and SME loans also rose 4.8% YoY to IDR 195.8 trillion. Meanwhile, KKB corrected 2.4% YoY to IDR 36.0 trillion, and credit card outstanding balances grew 5.2% YoY to IDR 11.8 trillion. The total consumer loan portfolio rose 5.1% YoY to IDR 148.4 trillion. Overall, BCA's total credit rose 8.2% YoY to IDR 637.0 trillion in December 2021, higher than the 6% growth target. (LM)