Cuan Rp162 M, Net Profit of Bank Amar Soars 193% in Q3 2023

Cuan Rp162 M, Net Profit of Bank Amar Soars 193% in Q3 of 2023

Cuan Rp162 M, Net Profit of Bank Amar Soars 193% in Q3 2023

Dream - Positive performance was achieved by the digital bank that focuses on the retail and MSME segments, PT Bank Amar Indonesia Tbk. Net profit and company revenue reported double-digit growth. Amar Bank reported a net profit of Rp162.1 billion for the third quarter of 2023. This achievement skyrocketed by 193.8 percent on an annual basis.

Amar Bank also recorded operational income amounting to Rp932.6 billion, which marks a substantial increase of 36.6 percent on a year-on-year basis.

"The increase is driven by consistent growth in net interest income and non-interest income, as well as optimal cost management. In addition, a more prudent credit distribution strategy also played a significant role in improving profitability,"

The text translation from 'Bahasa' to 'English' while preserving any HTML tags is as follows: "words of President Director of PT Bank Amar Indonesia Tbk, Vishal Tulsian, in his statement, quoted on Tuesday, November 7, 2023."

Amar Bank also emphasizes its commitment to support the MSME segment, which contributes 53 percent of all disbursed credits. MSMEs are known to play an important role in driving national economic growth through their contributions to Gross Domestic Product (GDP).

The commitment of Amar Bank in implementing responsible banking is also reflected in the stable and satisfactory level of third-party funds (DPK) maintained.

Current Account and Saving Account (CASA) contribute 24 percent of the total third-party funds (DPK) with a total amount of Rp826 billion. Along with the growing number of customers, Amar Bank is focused on continuously strengthening the CASA position.

David Wirawan, Senior Vice President Finance of Amar Bank, revealed that the level of Capital Adequacy Ratio (CAR) is healthy at 124.5 percent until the third quarter of 2023.

"CAR yang kuat ini dapat menjaga stabilitas sistem keuangan secara keseluruhan, sekaligus memberi ruang untuk mendorong ekspansi pasar. Kami optimis dapat terus meningkatkan volume penyaluran pinjaman yang lebih besar dengan tetap mengedepankan inovasi produk berbasis teknologi, serta terus mempertahankan asas kehati-hatian,"

David's words.

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