Digital Banks Cut Promotional Expenses to Lower Burn Rate

Several digital banks are cutting down on promotional expenses as part of their efforts to shift away from ‘cash burning’ strategy.

Asteria Desi Kartikasari & Fahmi Ahmad Burhan

27 Agt 2023 - 14.44
A-
A+
Digital Banks Cut Promotional Expenses to Lower Burn Rate

The officer is serving Bank Neo Commerce Tbk (BBYB) customers. Bisnis/Suselo Jati

Bisnis, JAKARTA — Digital banks are cutting down on promotional expenses as part of their efforts to shift away from ‘cash burning’ strategy.

Among them are PT Bank Amar Indonesia Tbk. (AMAR), PT Bank Neo Commerce Tbk (BBYB), and PT Bank Raya Indonesia Tbk. (AGRO). According to Bank Amar’s financial statement, the bank had cut its promotional expenses from  IDR77.71 billion in June 2022 to IDR35.76 billion in June 2023.

Following suit, Bank Neo Commerce, owned by the financial technology (fintech) company PT Akulaku Silvrr Indonesia – which had the highest promotional expenses among digital banks in the first half of last year amounting to IDR251.28 billion – had cut its promotional expenses to IDR49.05 billion in the first half of this year.

Bank Raya also reduced its promotional expenses from IDR23.83 billion in June 2022 to IDR13.14 billion in June 2023. David Wirawan, Senior Vice President Finance of Amar Bank, said the company is adopting a more targeted marketing strategy and is collaborating closely with digital ecosystem partners.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Jaffry Prabu Prakoso
company-logo

Lanjutkan Membaca

Digital Banks Cut Promotional Expenses to Lower Burn Rate

Dengan paket langganan dibawah ini :

Tidak memerlukan komitmen. Batalkan kapan saja.

Penawaran terbatas. Ini adalah penawaran untuk Langganan Akses Digital Dasar. Metode pembayaran Anda secara otomatis akan ditagih di muka setiap empat minggu. Anda akan dikenai tarif penawaran perkenalan setiap empat minggu untuk periode perkenalan selama satu tahun, dan setelah itu akan dikenakan tarif standar setiap empat minggu hingga Anda membatalkan. Semua langganan diperpanjang secara otomatis. Anda bisa membatalkannya kapan saja. Pembatalan mulai berlaku pada awal siklus penagihan Anda berikutnya. Langganan Akses Digital Dasar tidak termasuk edisi. Pembatasan dan pajak lain mungkin berlaku. Penawaran dan harga dapat berubah tanpa pemberitahuan.

Copyright © Bisnis Indonesia Butuh Bantuan ?FAQ
Kembali ke Atas
BIG MEDIA
Jalan K.H. Mas Mansyur No. 12AKaret Tengsin - Jakarta Pusat 10220
© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.