Friday, March 21, 2014

Bank Bukopin’s Profit Growth by 11,38% in 2013 During Tightening Liquidity



Jakarta, 21 Maret 2014 - PT Bank Bukopin Tbk, (BBKP), one of the banks that is focusing in micro and SME’s customers, booked an increasing net profit of 11.38% pushed by the increasing fee-based income.

Net profit growth of Bank Bukopin was still in line with banking industry during economic slowdown.  Bank Bukopin management, due to economic uncertainly last year and tightening liquidity in money market, chose to maintain liquidity rather than pushing for profitability.

Net profit was amounting to Rp 929.71 billion in 2013 from Rp 830.49 billion 2012. The profits was pushed by an increasing fee-based income that came from provision and administration fees, where fee-based income gained by 18.73% to Rp 785,68 billion in 2013 from Rp 663,75 billion.

Despite interest revenue growth of 16.07% to Rp 5,95 trillion in 2013 from Rp 5,13 trillion in 2012, net interest  revenue slightly shrank by 0,73% to Rp 2.44 trillion in 2013 from Rp 2.46 trillion caused by increasing of interest expenses with the blended cost of fund that increased by 100 bps to 6.22% in 2013.

In the other hand, productive assets of Bank Bukopin improved and it were showed by decreasing nonperforming loans to 2.26% in 2013 compared to the previous year at 2.66%. Decreasing nonperforming loans also indicated improving in high quality asset during liquidity tightening.

Bukopin’s loans increased slightly of 6.44% to Rp 48.46 trillion from Rp 45.53 trillion, while nonperforming loans decreased. This indicated improvement in risk management.

Bukopin’s loans was dominated by SME’s loans of Rp 19.05 trillion in 2013, a 22.64% increase from Rp 15.53 trillion in 2012. The second contributor was commercial loans increased by 0.70% to Rp 15.50 trillion from Rp 15.39 trillion. This was followed by consumer loans gained by 86.07% to Rp 6.68 trillion from Rp 3.59 trillion and micro loans hiked by 28.62% to Rp 3.44 trillion from Rp 2.67 trillion while Bulog’s loans decreased to Rp 3.78 trillion from Rp 8.38 trillion. 

Bank Bukopin, in the previous November adjusted its third parties fund by increasing its CASA to 41.66% from 41.02%. So, loans to deposits ratio was preserved at 85.80% compared to last year at 83.81%.

Bank Bukopin, after executing the right issue, booked capital improvement and grouped into BUKU 3, so it has opportunities to develop products that have never existed before.  

Bukopin in 2014 targets an increase net-profit up to Rp 1 trillion with loans and deposits growth of 15% to 17%, it was in synergy with Bosowa that has entered as one of majority shareholders. Bosowa has extensive business lines in the industries of cement, automotive, energy, infrastructure and media.

Accounts
BBKP
(IDR Million)
2013
2012
Change
Interest Revenue
      5,950,023
      5,126,381
16.07%
Interest Expenses
      3,506,183
      2,664,674
31.58%
Net Interest Revenue
      2,443,840
      2,461,707
-0.73%
Operational Revenue
          785,676
          663,749
18.37%
Operational Expenses
      2,055,250
      2,058,984
-0.18%
Operational Income
      1,174,266
      1,066,472
10.11%
Other Revenue (Expenses)
             19,339
              (7,102)
-372.29%
Pre Tax Income
      1,193,605
      1,059,370
12.67%
Net Income
          929,712
          834,719
11.38%
EPS
                     117
                     104
11.75%

Account
BBKP
(IDR Mill)
2013
2012
Change
Asset
   69,457,663
   65,689,830
5.74%
Productive Asset
   62,253,291
   60,012,220
3.73%
Equities
      6,195,903
      4,984,186
24.31%
Core Capital
      5,013,462
      4,242,014
18.19%
Deposits
   55,822,392
   53,957,757
3.46%
Loans
   48,461,044
   45,530,740
6.44%

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