JAKARTA, RAKYAT NEWS – The Amar Bank Indonesia Tbk (AMAR) reported a net profit of IDR 152.26 billion in the third quarter of 2024, reflecting a 20.37% increase compared to the same period last year, which stood at IDR 126.49 billion.

This achievement demonstrates a positive performance in navigating the current economic challenges.

The growth in profit was primarily driven by a significant increase in credit, especially allocated to the Micro, Small, and Medium Enterprises (MSME) sector.

The bank’s gross loans reached IDR 2.8 trillion as of September 2024, marking a 14.9% year-on-year growth. This highlights Amar Bank’s commitment to supporting economic growth in this segment.

Amar Bank’s operational income also showed a positive trend, achieving IDR 1.18 trillion in the third quarter of 2024, up 26.65% compared to the previous year. This increase was supported by a rise in net interest income, which grew by 30.39%, and non-interest income, which increased by 18.31%.

One indicator of Amar Bank’s success in managing risk is the decrease in the non-performing loan (NPL) ratio to 0.92%, down from 1.21% in the previous period. The adequate management of Loan Loss Provisions (LLP) demonstrates the bank’s commitment to maintaining asset quality.

Digital innovation is at the core of Amar Bank’s growth strategy. The Amar Bank Digital and Tunaiku applications have played a significant role in reaching underbanked and unbanked segments, with Tunaiku now downloaded over 20 million times and distributing more than IDR 13.4 trillion in loans since its launch in 2014.

With efficient cost management and a strong capital adequacy ratio (CAR), Amar Bank is optimistic about continuing to support growth in the retail and MSME segments.

The focused strategy on digital innovation and prudent credit distribution is expected to solidify the bank’s position as a leader in Indonesia’s digital banking industry.

As part of its achievements this year, Amar Bank also distributed dividends amounting to IDR 55 billion in June 2024. This makes it the first digital bank to declare dividends for the 2023 fiscal year, showcasing its commitment to providing added value to shareholders. (Uki Ruknuddin)