PT Bank BTPN Syariah (BTPS) Q4 2024 earnings summary

Executive summary

• Served 7 million customers with 3.81 million active, spanning 26 provinces and 268,700 communities.

• Workforce of ~14,400, predominantly female (96%) and high school graduates (53%).

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

• Consolidated financial statements for the year ended 31 December 2024 received an unqualified opinion from the independent auditor, confirming fair presentation in accordance with Indonesian Financial Accounting Standards.

• The audit highlighted allowance for impairment losses on murabahah receivables and IT controls as key audit matters due to significant management judgment and estimation uncertainty.

Financial highlights

• Total assets reached Rp 21,747,580 million at year-end 2024, up from Rp 21,435,366 million in 2023.

• Net margin income for FY 2024 was IDR 4.89 trillion, down 7% year-over-year.

• Profit after tax for FY 2024 was Rp 1,061,160 million, a slight decrease from Rp 1,080,588 million in 2023.

• Equity increased to Rp 9,316,594 million from Rp 8,777,133 million year-over-year.

• Gross financing declined 11% year-over-year to IDR 10.17 trillion.

Outlook and guidance

• Fitch rating reaffirmed as AAA (idn) with stable outlook in March 2024.

• The Bank continues to focus on prudent risk management, maintaining strong capital adequacy, and supporting business growth.