In the first quarter of 2020, Bank DKI's performance continued to grow positively amidst the Covid-19 pandemic
Jakarta, April 30 2020Published: April 30, 2020
In the midst of the Covid-19 pandemic, Bank DKI was still able to record positive financial performance growth. Bank DKI's banking intermediation function continues to show positive growth, where throughout the first quarter of 2020, Bank DKI's credit was recorded at IDR 32.38 trillion, growing compared to credit distribution as of March 2019 of IDR 31.55 trillion. This was conveyed by the Director of MSE Credit & Sharia Business at Bank DKI, Babay Parid Wazdi in his written statement in Jakarta (30/04).
Babay Parid, who currently doubles as Finance Director of Bank DKI, said, "credit distribution is supported by credit in segments that are still recording growth, such as the MSME segment which experienced growth of 10.26% (yoy), from IDR 1.52 trillion as of March 2019 to IDR 1.67 trillion as of March 2020. Overall credit quality is also well maintained as indicated by the Net NPL ratio of 0.48% as of March 2020.”
Even though it is still recording positive growth, he is still paying close attention to the impact of the Covid-19 pandemic on Bank DKI's financial performance and the ability of debtors to fulfill their obligations. In response to this, Bank DKI is also providing credit installment payment relief or relaxation to customers affected by the corona virus (Covid-19). This credit installment relief is in accordance with the rules in Financial Services Authority Regulation (POJK) Number 11/POJK.03/2020 concerning economic stimulus as a countercyclical policy.
In terms of Third Party Funds, Bank DKI is still recording good growth where Bank DKI's Third Party Funds as of March 2020 were recorded at IDR 33.47 trillion, still growing 3.09% compared to Bank DKI's Third Party Funds as of March 2019 which were recorded at IDR 32.47 trillion. The growth in deposits was mainly driven by growth in savings which grew 6.82% from IDR 7.57 trillion as of March 2019 to IDR 8.09 trillion as of March 2020. Bank DKI also continues to strive to increase deposits by encouraging the use of the JakOne Mobile application for customers and prospective customers. With JakOne Mobile, opening an account or online deposit with more attractive interest can be done without having to visit a Bank DKI service office.
As of March 2020, Bank DKI's total assets were recorded at IDR 46.24 trillion, growing 2.31% compared to the same period the previous year. These various business activities have led to an increase in profits of 1.51% up to March 2020 to IDR 183.95 billion.
Apart from financial performance, Bank DKI has also just been set to distribute dividends of IDR 285.95 billion at the Annual General Meeting of Shareholders (AGMS) for the 2019 Financial Year which was held electronically for the first time last weekend. This amount reached 34.99% of the net profit recorded by Bank DKI in the 2019 financial year of IDR 817.23 billion.