BBTN - NPL reaches IDR11.25 tn

BBTN - NPL reaches IDR11.25 tn Bank Tabungan Negara (BBTN) recorded a total non-performing loan (NPL) value of IDR11.25 tn as of June 2023. This bank's total credit reached IDR307.6 tn. So that the NPL ratio is at the level of 3.66%. Total outstanding BTN housing construction loans were recorded at IDR19.22 tn, down 14.5% on an annual basis from IDR22.5 tn in June 2022. Thus, the value of non-performing loans in this segment reached IDR5.05 tn. (Source: Kontan). Comment: We believe npl likely to decline as asset quality improvement remain intact. With better credit cost and stable provisions, earnings will continue to improves in 2H23. We also like BBTN non housing loans which continue to record a better shap.