20240426_ARTO_Laporan Informasi dan Fakta Material_31630088_lamp1.pdf

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‭PRESS RELEASE‬

                    ‭Bank Jago Starts 2024 with Solid Performance‬

‭Jakarta,‬‭26‬‭April‬‭2024‬‭-‬‭As‬‭a‬‭tech-based‬‭bank‬‭embedded‬‭within‬‭the‬‭ecosystem,‬‭PT‬‭Bank‬‭Jago‬
 ‭Tbk‬ ‭commenced‬ ‭2024‬ ‭with‬ ‭a‬ ‭solid‬ ‭performance.‬ ‭As‬ ‭of‬ ‭the‬ ‭first‬ ‭quarter‬ ‭of‬ ‭2024,‬ ‭Bank‬ ‭Jago‬
  ‭recorded growth in terms of customer base, third-party funds (DPK) and loan disbursement.‬

‭As‬‭of‬‭the‬‭first‬‭quarter‬‭of‬‭2024,‬‭Bank‬‭Jago‬‭successfully‬‭served‬‭11.1‬‭million‬‭customers,‬‭including‬
 ‭9‬‭million‬‭funding‬‭customers‬‭through‬‭the‬‭Jago‬‭App.‬‭This‬‭figure‬‭marked‬‭an‬‭increase‬‭of‬‭3.6‬‭million‬
  ‭customers‬ ‭compared‬‭to‬‭the‬‭achievement‬‭in‬‭the‬‭first‬‭quarter‬‭of‬‭2023,‬‭which‬‭reached‬‭7.5‬‭million‬
   ‭customers.‬

‭The‬ ‭increase‬ ‭in‬ ‭funding‬ ‭customers‬ ‭aligned‬ ‭with‬ ‭the‬ ‭growth‬ ‭in‬ ‭DPK,‬ ‭which‬ ‭reached‬ ‭42%‬
 ‭year-on-year‬‭(yoy).‬‭As‬‭of‬‭March‬‭2024,‬‭DPK‬‭amounted‬‭to‬‭IDR‬‭13.2‬‭trillion,‬‭an‬‭increase‬‭from‬‭IDR‬
  ‭9.3‬ ‭trillion‬ ‭in‬ ‭March‬ ‭2023.‬ ‭Of‬ ‭this‬ ‭figure,‬ ‭the‬ ‭composition‬ ‭of‬ ‭current‬ ‭accounts‬ ‭and‬ ‭savings‬
   ‭accounts‬‭(CASA)‬‭reached‬‭63%,‬‭or‬‭IDR‬‭8.3‬‭trillion,‬‭while‬‭the‬‭composition‬‭of‬‭term‬‭deposits‬‭(TD)‬
    ‭reached 37%, or IDR 4.9 trillion.‬

‭"At‬‭the‬‭beginning‬‭of‬‭this‬‭year,‬‭we‬‭remain‬‭consistent‬‭in‬‭utilizing‬‭a‬‭collaborative‬‭strategy‬‭with‬‭the‬
 ‭ecosystem.‬‭This‬‭is‬‭an‬‭effective‬‭way‬‭to‬‭grow‬‭solidly‬‭and‬‭in‬‭line‬‭with‬‭our‬‭aspiration‬‭to‬‭enhance‬‭the‬
  ‭growth‬‭of‬‭millions‬‭through‬‭life-centric‬‭digital‬‭financial‬‭solutions,"‬‭said‬‭President‬‭Director‬‭of‬‭Bank‬
   ‭Jago, Arief Harris Tandjung.‬

‭Strategic‬‭ecosystem‬‭partners,‬‭including‬‭the‬‭GoTo‬‭ecosystem‬‭with‬‭the‬‭GoPay‬‭Tabungan‬‭and‬‭the‬
 ‭online‬‭investment‬‭platform,‬‭Bibit,‬‭that‬‭seamlessly‬‭connected‬‭to‬‭the‬‭Jago‬‭App,‬‭have‬‭significantly‬
  ‭contributed‬ ‭to‬ ‭the‬ ‭Bank‬ ‭Jago's‬ ‭business‬ ‭growth.‬ ‭This‬ ‭was‬ ‭evident,‬ ‭for‬ ‭example,‬‭from‬‭the‬‭fact‬
   ‭that 65% of the Jago App funding customers come from ecosystem partners.‬

‭In‬ ‭terms‬ ‭of‬ ‭loan‬ ‭disbursement,‬ ‭Bank‬ ‭Jago‬ ‭recorded‬‭a‬‭32%‬‭yoy‬‭growth.‬‭Loan‬‭disbursement‬‭at‬
 ‭the‬‭end‬‭of‬‭the‬‭first‬‭quarter‬‭of‬‭2024‬‭reached‬‭IDR‬‭14.3‬‭trillion,‬‭an‬‭increase‬‭compared‬‭to‬‭the‬‭same‬
  ‭period‬‭last‬‭year,‬‭which‬‭stood‬‭at‬‭IDR‬‭10.8‬‭trillion.‬‭The‬‭growth‬‭in‬‭loan‬‭disbursement‬‭was‬‭achieved‬
   ‭through‬‭collaboration‬‭strategies‬‭with‬‭various‬‭partners,‬‭including‬‭digital‬‭ecosystem‬‭and‬‭platform,‬
    ‭financing companies, and other financial institutions.‬

‭Bank‬‭Jago's‬‭loan‬‭disbursement‬‭was‬‭conducted‬‭with‬‭quality‬‭and‬‭prioritizing‬‭prudence‬‭principles.‬
 ‭This‬‭is‬‭reflected‬‭in‬‭the‬‭low‬‭gross‬‭non-performing‬‭loan‬‭(NPL)‬‭ratio‬‭of‬‭0.6%,‬‭which‬‭was‬‭below‬‭the‬
  ‭banking industry average of 2.3%.‬

‭The‬ ‭growth‬ ‭of‬ ‭loans‬ ‭has‬ ‭driven‬ ‭Bank‬ ‭Jago's‬‭assets‬‭to‬‭reach‬‭IDR‬‭22.5‬‭trillion,‬‭a‬‭25%‬‭increase‬
 ‭from‬ ‭the‬‭same‬‭period‬‭last‬‭year,‬‭which‬‭amounted‬‭to‬‭IDR‬‭18‬‭trillion.‬‭Meanwhile,‬‭Bank‬‭Jago‬‭also‬

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‭recorded‬ ‭net‬ ‭profit‬ ‭after‬ ‭tax‬ ‭(NPAT)‬ ‭of‬ ‭IDR‬ ‭22‬ ‭billion‬ ‭as‬ ‭of‬ ‭the‬ ‭end‬ ‭of‬ ‭March‬ ‭2024,‬ ‭a‬ ‭24%‬
 ‭increase from the end of March 2023, which was IDR 18 billion.‬

‭The‬ ‭capital‬ ‭adequacy‬ ‭ratio‬ ‭(CAR)‬ ‭reached‬ ‭55%,‬ ‭indicating‬ ‭the‬ ‭strength‬ ‭of‬ ‭capital‬ ‭levels‬ ‭to‬
 ‭support future business expansion.‬

‭"Although‬ ‭the‬ ‭global‬ ‭economic‬ ‭situation‬ ‭remains‬ ‭uncertain,‬ ‭Bank‬ ‭Jago's‬ ‭strong‬ ‭business‬
 ‭strategy‬ ‭and‬ ‭fundamentals‬ ‭have‬ ‭been‬ ‭able‬ ‭to‬ ‭bring‬ ‭positive‬ ‭and‬ ‭quality‬ ‭growth.‬ ‭This‬
  ‭achievement‬‭serves‬‭as‬‭a‬‭good‬‭momentum‬‭for‬‭Bank‬‭Jago‬‭to‬‭continue‬‭sustainable‬‭growth‬‭in‬‭the‬
   ‭future," concluded Arief.‬

                                                            ‭***‬

‭About Bank Jago‬
 ‭Specifically‬ ‭built‬ ‭as‬ ‭a‬ ‭tech-based‬ ‭bank‬ ‭embedded‬ ‭within‬ ‭Indonesia’s‬ ‭digital‬ ‭ecosystem,‬ ‭Bank‬ ‭Jago‬
  ‭aspires‬ ‭to‬ ‭enhance‬ ‭the‬ ‭growth‬ ‭of‬ ‭millions‬ ‭through‬ ‭life-centric‬ ‭digital‬ ‭financial‬ ‭solutions.‬ ‭Bank‬ ‭Jago‬
   ‭develops‬ ‭banking‬ ‭products‬ ‭and‬ ‭services,‬ ‭both‬ ‭conventional‬ ‭and‬ ‭sharia,‬ ‭that‬‭can‬‭be‬‭used‬‭by‬‭everyone,‬
    ‭including retail (consumer), mass market, or micro, small and medium enterprises (MSME).‬

‭Bank‬‭Jago‬‭develops‬‭Jago‬‭App,‬‭which‬‭is‬‭designed‬‭to‬‭be‬‭embedded‬‭within‬‭various‬‭digital‬‭ecosystems,‬‭and‬
 ‭can‬ ‭be‬ ‭customized‬ ‭and‬ ‭personalized‬ ‭so‬ ‭it‬ ‭can‬ ‭be‬ ‭compatible‬ ‭with‬ ‭their‬ ‭ecosystems,‬ ‭and‬‭also‬‭with‬‭the‬
  ‭users’‬ ‭personal‬ ‭needs.‬ ‭The‬ ‭collaborations‬ ‭with‬ ‭various‬ ‭ecosystems‬ ‭enable‬ ‭users‬ ‭to‬ ‭live‬ ‭their‬‭life‬‭more‬
   ‭conveniently.‬

‭For further information please contact:‬
 ‭Marchelo‬
  ‭Corporate Communication‬
   ‭PT Bank Jago Tbk‬
    ‭marchelo@jago.com‬

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