SENTUL-BOGOR (eNBe Indonesia) - State-owned Bank Tabungan Negara (BBTN) booked a net profit of Rp1.51 trillion in the first 9M of 2021, grew 36.3% y/y, as operating profit rose 50% to Rp2.13 trillion. Net interest grew 30% to Rp8.6 trillion.
Credit grew 3.4% to Rp243 trillion, and third-party funds increased 3.8% to Rp269.2 trillion.
BBTN will also launch the rights issue following the capital injection of Rp2 trillion, used to maintain its capital structure ratio (CAR) at a minimum of 18% by 2024.
BBTN is assigned to build 200-300 thousand homes per year until 2024, so the backlog is expected to decline to 4-4.5 million units by 2030.***