Bank DKI Rating Increased to idAA

Jakarta – The national rating agency, PEFINDO raised Bank DKI's rating from previously "idAA- (Double A Minus)" since 2018 to "idAA (Double A)" with a stable outlook, for the period 5 June 2023 to 1 June 2024.

PEFINDO in its announcement (9/6) stated that the idAA rating given to Bank DKI reflects the strong support from the DKI Jakarta Provincial Government as the controlling shareholder, its business position and very strong capital structure. The rating upgrade to idAA is based on the Company's achievements as per the Audited Financial Report as of 31 December 2022 and as of 31 December 2021. Bank DKI is stated to have a very strong ability to fulfill long-term financial commitments compared to other Indonesian obligors.

President Director of Bank DKI, Fidri Arnaldy, said that this increase in ranking reflects the Company's increasingly strong position in the banking industry and confirms Bank DKI's position as a healthy bank with a health level of 2 (healthy) based on the assessment results from the Financial Services Authority (OJK). Various positive performance achievements have also received recognition from various parties, both domestic and international, which is reflected in the 43 award categories received by Bank DKI during the period 1 January to 31 May 2023.

In line with this, Bank DKI's Director of Finance & Strategy, Romy Wijayanto, added that achieving the idAA rating is a form of recognition from a trusted rating institution which is in line with Bank DKI's positive performance growth and in line with the overall strategy which focuses on stable and potential segments and consistent transformation towards digitalization. Romy explained that the 5.0 Transformation Program which the Company has implemented since 2021 with various concrete work programs can improve overall financial performance.

Romy also detailed that Bank DKI managed to record the highest net profit in its history in 2022 with growth of 29.11% to IDR 939.11 billion. Bank DKI's total assets also experienced growth to IDR 78.88 trillion, supported by credit growth of 23.53% and Third Party Funds (DPK) growth of 12.82% in December 2022, which on average is above the growth of the national banking industry. Meanwhile, as of March 31 2023, assets reached IDR 79.93 trillion with credit growth of 24.68%, deposits growing 16.27%, and net profit of IDR 233.20 billion, an increase of 17.77%.

Bank DKI Corporate Secretary, Arie Rinaldi, added that with the increase in Bank DKI's ranking to idAA, it will further strengthen Bank DKI's position in facing challenges and opportunities in a competitive market. "Bank DKI is committed to continuing to improve performance and provide added value to all stakeholders by implementing growth and innovation-oriented strategies, as well as digital-based business processes." closed Arie.