Comparing Profit Performances of Conglomerate-Owned Banks

Throughout 2023, most tycoon or conglomerate-owned banks managed to book profits, although some are still in the red.

Fahmi Ahmad Burhan

9 Apr 2024 - 14.59
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Comparing Profit Performances of Conglomerate-Owned Banks

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Bisnis, JAKARTA — Several prominent conglomerates and tycoons, including the Hartono brothers or the Djarum Group and Chairul Tanjung, are known to be venturing into the banking business sector. Throughout 2023, their banks recorded varied performances.

Conglomerate-owned banks recorded outstanding performances, such as the bank owned by magnate Hary Tanoesoedibjo, and PT Bank MNC Internasional (BABP). Bank MNC recorded a net profit of IDR77.91 trillion in 2023, skyrocketing by 48.4 percent year-on-year compared to the previous year's net profit of IDR52.5 trillion.

MNC Bank president director Rita Montagna said the bank's performance growth reflects a commitment to strengthening operations.

"Despite facing external challenges such as interest rate fluctuations, we believe the strategic steps we took will further strengthen our position in the market, allowing us to continue this positive trend with long-term growth," she said in a written statement.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.