BTN to Issue IDR 1 Trillion Bonds This Year
English
PT Bank Tabungan Negara (BTN) plans to issue bonds amounting to IDR 1 trillion in 2022. BTN plans to issue bonds in the second quarter to the third quarter of 2022.
BTN Director of Finance, Planning & Treasury Nofry Rony Poetra said the issuance of debt securities was aimed at strengthening the company's capital structure.
The bond issuance is in line with the company's plan to target a net profit growth of 11 percent this year. BTN also targets lending to grow by nine to 11 percent by 2022.
Throughout 2021, BTN's net profit jumped 48.3 percent to Rp 2.37 trillion in 2021 compared to 2020 which was Rp 1.6 trillion. Then lending grew 5.66 percent from Rp 260.11 trillion in 2020 to Rp 274.83 trillion in 2021.
BTN targets credit growth of nine percent to 11 percent in 2022. This target is higher than the previous year's achievement of 5.6 percent.
Deputy President Director of BTN Nixon LP Napitupulu said that throughout 2021 credit distribution was IDR 274.83 trillion or grew 5.66 percent compared to the same period the previous year of IDR 260.11 trillion.
Third party funds are projected to grow in line with credit growth of nine percent to 11 percent in 2022. The net interest margin or net interest margin (NIM) is targeted at more than four percent and the cost of funds (CoF) will be kept below 3.2 percent, while the cost income ratio (CIR) is targeted to be below 50 percent.
In terms of profitability ratios, the company targets a return on assets (RoA) of 0.9 percent to one percent and a return on equity (RoE) of 13 percent to 14 percent.
Net profit is targeted to grow 11 percent to 13 percent.
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