JAKARTA, RAKYAT NEWS— PT Bank Jago Tbk has announced impressive results for the first half of 2024, with third-party funds (DPK) increasing by 47% year-on-year. The total DPK surged from IDR 10.1 trillion in H1 2023 to IDR 14.8 trillion in H1 2024.

“H1” refers to the first half of a fiscal year. In financial reporting, it is commonly used to denote data and performance metrics from the beginning of the year up to the end of June. The corresponding period “H2” covers the second half of the year, from July to December.

Of this total, low-cost funds, including current accounts and savings accounts (CASA), make up 61% or IDR 9.1 trillion. The remaining 39%, or IDR 5.7 trillion, is held in deposit accounts.

Bank Jago is a digital bank based in Indonesia. It was established as a technology-driven financial institution, focusing on leveraging digital solutions to provide banking services. The bank offers a range of services including savings accounts, credit facilities, and investment products through its mobile and online platforms. It is known for its innovative approach, partnering with various ecosystems and fintech platforms to enhance its digital banking offerings and expand its customer base.

Bank Jago’s President Director, Arief Harris Tandjung, attributed this growth to strategic partnerships with the GoTo ecosystem and the online mutual fund platform Bibit. “Approximately 66% of the funding for the Jago app comes from our ecosystem partners,” said Arief.

He also noted that credit disbursements have grown by 40% year-on-year, reaching IDR 15.7 trillion by the end of Q2 2024, with a remarkably low non-performing loan (NPL) ratio of just 0.4%.

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