Bank Danamon Positive Performance
As well as, Bank Danamon Positive Performance. Performance of banking in the first quarter of 2020 is still positive. Although in the next quarter the threat to banks due to the Coronavirus. Positive results in the first quarter occurred at Bank Danamon Indonesia Tbk (BDMN IJ). This bank managed to achieve a net profit of IDR 1.25 trillion in 1Q20.
As well as, a 33% growth compared to the same period last year. This growth was driven by loans in the enterprise banking segment, housing loans and motor vehicle financing. In the enterprise banking segment, which consists of corporate banking, commercial banking and financial institutions, the company managed to grow 22% to IDR 49.5 trillion.
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Then in the Small Medium Enterprise (SME) and Mortgage segments, each stood at IDR 28.5 trillion and IDR 8.9 trillion at the end of March 2020. For motor vehicle financing, from a subsidiary, Adira Finance Tbk (ADMF IJ) still recorded financing growth of 4% to IDR 54.7 trillion. In total, Bank Danamon loan and trade finance portfolio grew 7% YoY to IDR 147 trillion.
This growth in net profit was also supported by a better composition in fee-based income and stronger funding. Growth in Current Account Saving Account (CASA) by 17% to IDR 59.7 trillion. In 1Q20, positive results from the collaboration between Bank Danamon and MUFG and our business partners began to appear, said Yasushi Itagaki, President Director of Bank Danamon.
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Positive results also occurred Bank Bukopin Tbk (BBKP IJ). Bank Bukopin President Director, Eko Rachmansyah Gindo said, up to 1Q20, Bank Bukopin had managed to record an operating profit growth of 88% to IDR 90.5 billion. The increase in operating profit was mainly derived from an increase in net interest income by 19.8%.
And other operating income by 44.8% on an annual basis. During this period, the credit channeled by Bank Bukopin grew by 2.4% YtD to IDR 71.2 trillion. The position of third party funds amounted to IDR 77.89 trillion.
