REPUBLIKA.CO.ID, -- Bank Central Asia Tbk and its subsidiaries recorded solid financial performance in the first quarter of 2021. This issuer coded as BBCA shares posted a net profit of Rp 7 trillion or grew 7.0 percent on an annual basis (yoy).

In line with the economy gradually recovering from the pandemic, the total portfolio of corporate loans and bonds has been relatively stable since December 2020, reaching IDR 610 trillion as of March 31, 2021.

This was supported by placements in corporate bonds which increased by 6.9 percent compared to the position in December 2020.

BCA posted positive credit growth in the corporate segment, supported by demand in the telecommunications industry, vegetable and animal oils, and plantations.

President Director of BCA Jahja Setiaatmadja said that the solid performance of BCA and its subsidiaries cannot be separated from the support of customers, regulators, and all related parties in going through difficult times caused by the Covid-19 pandemic.

"Along with the government's stimulus to spur demand for consumer credit, the BCA Online Expoversary will be held in March 2021 to provide special offers for KPR and KKB for the retail segment," said Jahja, Thursday (22/4).

During one month of implementation, this Expoversary was able to record 1.2 million visitors and submission of KPR and KKB applications of IDR 15 trillion and IDR 5 trillion, respectively. This is a signal that people's purchasing power is still in the market.

To support the economic recovery in the MSME segment, BCAn also held an online exhibition BCA UMKM fest which was attended by around 1,700 merchants who marketed more than 18,000 products to the domestic and export markets.

Credit facilities for businesses increased by 6 percent (yoy). However, business activities that have not fully recovered have resulted in the facility being not fully utilized, resulting in a correction to BCA's total credit to Rp586.8 trillion at the end of March 2021.

Corporate loans reached IDR262.6 trillion in March 2021, up 0.9 percent (yoy). Meanwhile, commercial and SME loans fell 6.4 percent (yoy) to IDR 178.9 trillion. Total consumer credit contracted 10 percent (yoy) to Rp139.5 trillion.

In the consumer loan portfolio, KPR decreased 3.4 percent (yoy) to IDR 89.4 trillion, and KKB decreased 23.7 percent (yoy) to IDR 36.0 trillion. Credit card outstanding balances decreased 10.2 percent (yoy) to IDR11.1 trillion.

In terms of third party funds, BCA successfully posted strong performance in the first quarter of 2021. Current accounts and savings accounts (CASA) increased by 15.4 percent (yoy) to IDR 655.8 trillion, contributing to an increase in total third party funds of 14, 6 percent (yoy) to IDR 849.4 trillion.

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