Jakarta (TheInsiderStories) - PT Bank Tabungan Negara Tbk, which focuses on providing mortgage loans, booked net profit of Rp2.61 trillion in 2016, up 41.49% from previous year of Rp1.85 trillion. The increase was in line with a rise of loan expansion, which rose by 18.34% to Rp164.44 trillion from Rp138.95 trillion from previous year.
“We are optimistic BTN can carry on the positive performance this year as the economic condition shows signs of improvement,” BTN President Director Maryono said. The credit growth was higher than the average national banking industry credit growth in the year at 7.8%. The bank booked third party funds increase of 25.4% to Rp160.19 trillion, while its gross NPL was maintained at 2.84% compared to 3.42% in previous year.
In 2017, the bank expects to book credit growth of 21-23%, with non-subsidized credit growth expected to grow by 33% and subsidized credit growth at 17%. (*)