PT Bank BTPN Syariah (BTPS) Q3 2024 earnings summary

Executive summary

• PT Bank BTPN Syariah Tbk serves approximately 6.5 million customers, with about 3.87 million active, across 26 provinces and 2,600 sub-districts, focusing on financial inclusion and empowerment programs.

• Achieved AAA (idn) Fitch rating with a stable outlook as of March 2024.

• Net profit for the nine months ended 30 September 2024 was Rp 764.5 billion, down from Rp 997.1 billion year-over-year.

• Total assets as of September 2024 stood at IDR 21.4 trillion, down 3% year-over-year but up 2% sequentially from June 2024.

• Earnings per share for the period were Rp 129, compared to Rp 100 in the prior year.

Financial highlights

• Net margin income for 9M 2024 was IDR 3.69 trillion, down 7% year-over-year; profit after tax for 9M 2024 was IDR 771 billion, down 23% year-over-year and 24% sequentially.

• Gross financing decreased 13% year-over-year to IDR 10.33 trillion.

• Operating income from fund management as mudharib was Rp 9.95 trillion, down from Rp 11.37 trillion year-over-year.

• Total equity increased 4% year-over-year to IDR 9.01 trillion.

• Cash and cash equivalents at period end were Rp 5.01 trillion, up from Rp 4.26 trillion at the start of the year.

Outlook and guidance

• Fitch rating of AAA (idn) with stable outlook confirmed in March 2024, reflecting strong capital and risk profile.

• Capital and liquidity ratios remain robust, supporting future growth.