20240726_ARTO_Laporan Informasi dan Fakta Material_31687916_lamp1.pdf

PRESS RELEASE

              Bank Jago Reports Quality Growth in the First Half of 2024

Jakarta, 26 July 2024 - PT Bank Jago Tbk recorded quality business growth in the first half of
2024. The bank’s innovative approach and collaboration with the digital ecosystems have been
key drivers of its sustainable business, reflected in customer numbers growth, third-party funds
collection and loan disbursement.

As of July 2024, Bank Jago boasts over 10 million funding customers who manage their
finances through the Jago App. Including lending customers, the bank’s total customer base
stands at 12.5 million.

Strategic ecosystem partners, including the GoTo ecosystem and the online mutual fund
platform Bibit which are seamlessly connected with the Jago App, have been instrumental in
driving business growth. This is evident from the number of Jago App funding customers, 66%
of whom come from ecosystem partners.

This surge in user numbers is mirrored in third-party funds growth, which reached IDR 14.8
trillion by the end of Q2-2024, a 47% increase compared to the same period last year of IDR
10.1 trillion. Current account and savings account (CASA) represent 61% of this amount or IDR
9.1 trillion, while term deposits (TD) account for the remaining 39% or IDR 5.7 trillion.

Leveraging its collaboration with various partners, including ecosystem and digital platforms,
finance companies and other financial institutions, Bank Jago disbursed loans totaling IDR 15.7
trillion by the end of Q2-2024, a 40% increase from the same period last year of IDR 11.2 trillion.

This growth is underpinned by a stringent focus on loan quality and prudence, as evidenced by
the low gross non-performing loan (NPL) ratio of 0.4%.

“Bank Jago’s combination of digital prowess, and sound business fundamentals, has fueled
consistent growth while maintaining exceptional quality. This reinforces our belief in the power of
innovation and collaboration with the digital ecosystems,” said Bank Jago President Director
Arief Harris Tandjung.

Strong loan performance has propelled Bank Jago’s total assets to IDR 24.2 trillion, a 29%
increase from the same period last year of IDR 18.9 trillion. The bank’s capital adequacy ratio
(CAR) of 50% underscores its robust financial position and capacity for future expansion.

This period of sustained growth has translated into improved profitability. Bank Jago recorded a
net profit after tax of IDR 50 billion by the end of June 2024, a 23% increase from June 2023’s
IDR 41 billion.