Along with the economic recovery, Bank OCBC NISP intensifies its intermediation function, as demonstrated by the bank's 12.8% growth in Total Deposits and 7.3% growth in Loans.
Jakarta, April 28th, 2022 – Indonesia’s economic growth during first quarter of 2022 run well as the Country able to post 37.7% yoy growth of income at the end of February 2022 and the increasing manufacture index (PMI) to 51.3% in March 2022 . In line with the national economic growth, Bank OCBC NISP manages to post a sustainable performance in the first quarter of 2022.
The Bank’s net profit rose by 20.7% in the first quarter of 2022 to Rp621 billion from Rp515 billion in the previous year. This growth was driven by the Bank’s operational income, which recorded 5.3% yoy growth to Rp2.5 trillion and lower provision expenses. Various indicators of Bank OCBC NISP's financial performance showed positive growth as well.
|Financial Performance March 31st, 2022, in Rp trilion|
|Loans – Gross||123.3||114.9||7.3%|
Loan demand has also begun to recover, as reflected in the growth of the Bank’s loan disbursement, which has been boosted by a 16% increase in retail loans. Bank OCBC NISP continues to adhere to prudence principle, as reflected by the net NPL at 0.7% and the gross NPL at 2.3% which remained below the banking industry average and regulatory requirement.
In order to boost mortgage growth and celebrate Bank’s 81st anniversary, Bank OCBC NISP offers special interest rate starting from fixed 2.81% p,a interest rate for 1 year and 3.81% p,a interest rate for 2 & 3 year, valid until 31 May 2022.
"With the pandemic situation is becoming under control and evenly spread vaccine distribution, Bank OCBC NISP is confident that loan growth will improve this year. With credit growth of 7.3% in the first quarter of 2022, we expect a positive loan disbursement growth throughout 2022, in line with the regulator's growth plan. Bank OCBC NISP will continue to encourage retail and productive loans by implementing prudent principles as the Bank's best practices and maintaining good communication with customers" said Parwati Surjaudaja, President Director of Bank OCBC NISP.
Bank OCBC NISP continuously continue to encourage young Indonesians to become #FinanciallyFit
During the pandemic, retail investors expanded sharply, especially in mutual funds and stock investments. Until February 2022, Indonesia’s stock market investors reached 8.1 million Single Investor Identification (SID), with young investors under the age of 308 accounting for 60.32% of total investors. The Indonesia Stock Exchange (BEI) aims to increase the number of SID for stock market investors to 10 million by the end of 2022.
“Despite continuous growth, the number of stock market’s investors is not yet ideal when compared to the total number of Indonesia population. However, increases in investor growth must be sustained to strengthen Indonesia’s financial market. Thus, this would strengthen the foundation of making Indonesia to become one of the world’s top five countries by 2045. Moving forward, The Bank will continuously introduce innovations to improve its product and services, which is also supported by financial literacy program to create financially-fit investors,” Parwati added.
This rapid growth of investment trend should be balanced with sound financial literacy, especially given the rise of fraudulent investments offers. These are reasons for the Bank to consistently educating the importance of financial management—knowledge, mindset, and proper behaviours. Moreover, with the right knowledge, people will be able to manage their finance, choose the right investments product that suits their needs and risk profile. In addition to education, Bank OCBC NISP works with OCBC Sekuritas to enable customers to have RDN (Customer Fund Account) open digitally in their I-OCBC Trade Mobile mobile application.
Digital transformation acceleration for all segments of Bank’s customers
The acceleration of digital capabilities for both individual and corporate customers continue to be well received. Throughout the first quarter of 2022, Bank OCBC NISP's digital transaction value grew by 27% yoy. The number of transactions made by customers through ONe Mobile in the first quarter of 2022 increased by 44%, the value of transactions increased by 37%, while the number of users increased by 19% compared to the same period in 2021. As for the corporate customers, Velocity@ocbcnisp service also experienced a 27% growth in transaction value, while the number of transactions frequency and total users increased by 21% and 15% respectively compared to the same period in the previous year.
Factsheet of financial performance and ratios as of March 31st, 2022, attached.
Overview of Bank OCBC NISP
Bank OCBC NISP was established in Bandung in 1941 under the name Nederlandsch Indische Spaar en Deposito Bank. As of March 31st 2022, Bank OCBC NISP served customers through 205 office networks in 54 cities in Indonesia, equipped with 515 Bank OCBC NISP ATM units accessible at more than 100,000 ATM networks in Indonesia, as well as connected to more than 700 OCBC Group ATM networks in Singapore and Malaysia. Bank OCBC NISP also serves customers through various digital channels, including mobile banking and internet banking – both for individuals and corporations. Bank OCBC NISP is one of the banks with highest credit ratings in Indonesia, namely idAAA (stable) from PT Pemeringkat Efek Indonesia (PEFINDO) and AAA (idn)/stable from PT Fitch Ratings Indonesia.
Duhita Rahma Mahatmi (Gandis)
Brand & Communication Head
Brand & Communication
OCBC NISP Performance - 16 Nov 2023