In the midst of business conditions that are currently difficult to impact the spread of the corona virus or Covid-19, PT Bank Yudha Bhakti Tbk managed to record comprehensive profit in the first quarter of 2020. In 2019, Bank Yudha Bhakti posted a net profit of Rp 16 billion and in the first quarter of this year, the Company also managed to book a net profit of Rp 13 billion.
Profit in the first quarter of 2020 was indeed slightly down from the first quarter of 2019, which posted Rp 14 billion, because the financial industry was facing Covid-19 pressure. But when compared with total profits during 2019, the achievements in the first three months were quite good considering the Indonesian economy was very depressed due to Covid-19.
In addition, Bank Yudha Bhakti also stressed that in fact the Company had resolved the issue of the maximum lending limit (BMPK) and write off books for loans encountered in the past year. This was conveyed in connection with the reporting of the Supreme Audit Board (BPK) on the supervisory function performed by the Financial Services Authority (OJK) on banks mentioned in the Semester Inspection Results Summary (IHPS) II / 2019.
The settlement of the LLL problem and write off the credit book has been clearly and clearly described in the financial statements of Bank Yudha Bhakti in the 2019 fiscal year audited by the Kanaka Public Accountant Office (KAP), Puradiredja Suhartono (a member of Nexia International) with a fair opinion in accordance with Accounting Standards Finance in Indonesia.
The company is currently in the process of realizing the results of the AGM last year, namely adding capital in the first half of 2020, to be able to upgrade to become a Commercial Bank Business Group (BUKU) II. This is done through the mechanism of Limited Public Offering III (LPO III) or Pre-emptive Rights (HMETD) to shareholders. As a strategy to face future challenges, since 2019 the Company together with PT Akulaku Silvrr Indonesia (Akulaku) as one of the holders stocks are getting ready to develop business and transform towards digital banking.
This is also a form of the Company's readiness to face the challenges of the financial industry in the future, which will be more dominated by digital transactions. At present, the top three majority shareholders in PT Bank Yudha Bhakti, namely: PT Akulaku Silver Indonesia with a shareholding of 24.08%, PT Gozco Capital at 21.76%, and PT ASABRI (Persero) at 20.13%