BCA Syariah recorded double digit growth
JAKARTA. The performance of PT Bank BCA Syariah reported double digit improvements in various aspects, including its net profit that proliferated 62.96% in the first half of 2023.
The net profit in the first six months in 2023 was recorded at IDR 73.92 billion, higher compared to the H1 2022’s record of IDR 45.36 billion. This double-digit increase was also seen in the commission or fee-based income, reaching 25% year-on-year (yoy) surge from IDR 15.09 billion to IDR 18.86 billion. This revenue increase allowed the net profit to surge.
Other financial aspects that showed double-digit improvements include third-party funds, which shifted 25% yoy to IDR 10.04 trillion to IDR 7.97 trillion. Meanwhile, the savings in current account swelled 20.7% yoy to IDR 1.87 trillion from IDR 1.55 trillion. Lastly, savings reportedly grew 29.6% yoy to IDR 1.94 trillion from IDR 1.50 trillion. Then, on the other hand, BCA Syariah had also distributed financing of IDR 7.88 trillion, moving 11.4% yoy from IDR 7.07 trillion.
In the H1 2023 performance report, Yuli Melati Suryaningrum, President Director of BCA Syariah, mentioned that the cheap fund (current account and saving account) growth has become one of BCA Syariah’s strategies to improve profitability through optimal credit distribution and fund collection.
This admirable growth led to improvements of some of its ratios, including profitability ratio. ROE of BCA Syariah shifted 182 bps to 5.03%, while ROA increased 45 bps to 1.52%, and net operating margin (NOM) jumped 73 bps to 1.81% from 1.08%. (AM/ZH)