TEMPO.CO, Jakarta - Indonesian digital lender PT Bank Jago Tbk. (ARTO) has reported a net profit after tax of Rp129 billion for the fiscal year 2024. This figure represents a 78 percent annual growth compared to the Rp72 billion profit recorded in 2023.

Arief Harris Tandjung, President Director of Bank Jago, said that this growth was achieved amid the challenges posed by the dynamic global economic and political environment of 2024. "Bank Jago successfully navigated through 2024 with a positive achievement, recording robust business growth," he said in an official statement released on Friday, March 21, 2025.

The bank also recorded significant expansion in its lending activities. By the end of 2024, Bank Jago’s loan portfolio reached Rp17.7 trillion, reflecting a 36 percent increase from the previous year’s Rp13 trillion.

This loan growth was facilitated through collaborations with digital ecosystems and platforms, financing companies, and other financial institutions. According to Arief, the bank maintained high-quality lending practices, as evidenced by a non-performing loan (NPL) ratio of 0.2 percent.

The expansion of quality lending contributed to Bank Jago’s total assets reaching Rp28.5 trillion, a 34 percent increase from the previous year’s Rp21.3 trillion. The bank’s capital adequacy ratio (CAR) stood at 44.4 percent.

By the close of 2024, Bank Jago’s customer base reached 15.3 million, including 12.1 million funding customers utilizing the Jago Application. The number of Jago Application users increased by 4 million, representing nearly 50 percent growth compared to the 8.1 million users at the end of 2023.

Arief noted that the growth in Jago Application users positively impacted the bank’s public fund collection (DPK), which reached Rp18.8 trillion. This figure reflects a 56 percent increase from the Rp12.1 trillion collected in 2023.

Current accounts and savings accounts (CASA) constituted the largest segment of DPK, accounting for Rp10 trillion, or 53 percent. Customer deposits comprised the remaining 47 percent, totaling Rp8.8 trillion.

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