Net Profit Q4 2023 Bank DKI Reaches IDR 1 Trillion

Jakarta – Bank DKI succeeded in recording good financial performance for the Q4 2023 (audited) period by posting a net profit of IDR 1.02 trillion, and this is the highest net profit achievement since Bank DKI was founded in 1961. This net profit grew 8.63% compared to the Q4 2022 period of IDR 939.11 billion. "This performance achievement is one of Bank DKI's milestones which was realized thanks to the support and trust of all stakeholders," said Bank DKI Director of Finance and Strategy, Romy Wijayanto in a written statement in Jakarta (19/02).

Romy Wijayanto explained that this increase in net profit was driven by an increase in interest income which grew 17.82% to IDR 5.34 trillion in Q4 2023 from the previous IDR 4.53 trillion in Q4 2022 as well as an increase in fee based income of 8.47% from the previous IDR 576.00 billion in Q4 2022 to IDR 624.77 billion in Q4 2023.

Throughout 2023, Bank DKI has distributed credit including sharia financing amounting to IDR 52.00 trillion in Q4 2023 from IDR 48.37 trillion in Q4 2022 or growth of 7.50%. Credit and financing growth was driven primarily by the retail credit segment which grew by 49.01% to IDR 1.93 trillion in Q4 2023, from IDR 1.29 trillion in Q4 2022. Meanwhile, growth in the micro credit segment rose by 42.67% to IDR 3.66 trillion in Q4 2023, from IDR 2.56 trillion in Q4 2022. The acceleration in retail and micro credit growth encouraged an increase in the portion of MSME credit. accumulated compared to Bank DKI's total credit to reach 10.74% at the end of 2023 compared to the same period the previous year of 7.98%. "This increase in the portion of MSMEs is in line with the vision and mission of Bank DKI as well as the hopes of shareholders of the DKI Jakarta Provincial Government to continue to increase the empowerment of MSMEs," said Romy.

Apart from that, consumer credit also recorded positive growth of 11.58% to IDR 22.10 trillion in Q4 2023, from IDR 19.81 trillion in Q4 2022. Furthermore, growth was also followed by the commercial credit segment (including term loans) in Q4 2023 growing 6.37% to IDR 17.56 trillion, from IDR 16.51 trillion in Q4 2022. Medium credit grew 1.34% to IDR 1.92 trillion in Q4 2023, from IDR 1.89 trillion in Q4 2022. Meanwhile, syndicated credit distribution reached IDR 4.84 trillion in Q4 2023.

This credit growth was also accompanied by excellent asset quality, with the non-performing loan ratio (Non-Performing Loan/Gross NPL) indicator maintained at a low level of 1.76% with Net NPL of 0.58% in Q4 2023. Bank DKI is also concerned about maintaining business sustainability in the future by maintaining a credit coverage ratio (CKPN) of up to 223.85%.

As for Third Party Funds, Bank DKI focuses on collecting low cost funds, which is reflected in the growth of current account funds by 5.72% to IDR 18.00 trillion as of Q4 2023, from IDR 17.03 trillion in Q4 2022 and savings funds in Q4 2023 to IDR 11.68 trillion, growing 2.22% (yoy) from IDR 11.43 trillion in Q4 2022. Growth in current accounts and savings accounts has led to an increase in the Current Account Savings Account (CASA) ratio from 43.70% in Q4 2022 to 46.65% in Q4 2023 along with deposits as expensive funds recorded a decrease of 7.38% from IDR 36.65 trillion in Q4 2022 to IDR 33.95 trillion in Q4 2023.

Romy explained that this step was the strategy chosen by Bank DKI in maintaining various liquidity ratios and reducing interest costs as well as maintaining the Loan to Deposit Ratio position at the desired level. LDR realization as of Q4 2023 was recorded at 81.73%, an increase of 7.43% compared to 74.30% in Q4 2022. These various performance achievements encouraged the growth of Bank DKI's total assets by IDR 4.17 trillion or grew by 5.30% from IDR 78.89 trillion in Q4 2022 to IDR 83.06 trillion in Q4 2023.

Bank DKI's important financial performance ratio indicators also show consistent improvement. The Return on Equity (ROE) ratio in Q4 2023 reached 10.36%, higher than the previous 10.10% in Q4 2022. The Operating Expenses to Operating Income (BOPO) ratio showed improvement from the previous 78.19% in Q4 2022 to 78.03% in Q4 2023 and the Net Interest Margin (NIM) was at a moderate level of 4.17%. This shows that Bank DKI is able to maintain its level of efficiency.

Growing Sustainably With Digitalization

Director of Technology & Operations and Acting Principal Director of Bank DKI, Amirul Wicaksono, explained that Bank DKI has carried out many developments and innovations in digital-based products and services to expand the accessibility of financial products and services to the public.

"In encouraging digitalization, Bank DKI is also making various efforts by integrating payment electronification in transportation modes, tourist attractions managed by the DKI Provincial Government, digitalizing market payments managed by Perumda Pasar Jaya, and various collaborations with BPD, BUMD and other entities," stressed Amirul.

The number of users of the JakOne Mobile mobile banking application for Bank DKI for the Q4 2023 period reached 2.23 million people, growing 12.11% (YoY) compared to the same period in Q4 2022, with a transaction volume of 29.62 million transactions and transaction nominal reaching IDR 30.63 trillion. The number of users of the JakOne Abank application, which is an agency system banking service using Mobile Point of Sale (MPOS) devices in Q4 2023 reached 4.99 thousand agents, growing 170.42% (YoY) compared to the Q4 2022 period, with a transaction volume of 3.18 million transactions and transaction nominal reaching IDR 1.72 trillion. Meanwhile, JakOne Merchant users who provide real time payment services using QRIS in the Q4 2023 period reached 31.47 thousand merchants, growing 101.39% (YoY) compared to the same period the previous year, with a transaction volume of 3.25 million transactions and nominal transactions reaching IDR 533.55 billion.

Most recently, at the end of 2023, Bank DKI introduced the Jakarta Tourist Pass which is a digital solution based on an electronic card (JakCard Bank DKI) and application (JakOne Pay Bank DKI) which can be used to make it easier for tourists to access tourism services in Jakarta. The Jakarta Tourist Pass has a number of features, namely Maps which provides a list of tourist destination locations, the Event feature which is used as a source of location references, times and ticket prices for tourist destinations in Jakarta, payment features using the scan to pay method, balance updates, and JakCard Top Up. In terms of the need for electronic tickets for integrated transportation in DKI Jakarta, such as KRL Commuter Line, Transjakarta, MRT Jakarta, LRT Jakarta, and LRT Jabodebek, which can be accessed with Bank DKI's JakCard.

Bank DKI Corporate Secretary, Arie Rinaldi added that Bank DKI's performance achievement in 2023 is a good foundation for achieving quality and sustainable performance growth. Arie said that continuing business improvements based on good governance, reliable digital innovation and strong risk management are the keys and strategies for achieving sustainable business success. He further said that Bank DKI will continue to maintain this growth momentum by achieving positive performance and continuing to provide innovative digital banking services and implementation of ESG in an integrated manner in company activities.