BANDUNG – Coinciding with the 43rd anniversary of the Indonesian capital market reactivation, Indonesia Stock Exchange (IDX) through its official announcement delivered a list of excellent IDX Quality30 or IDXQ30 indexes for the period 10 August 2020 to 21 February 2021.
bank bjb was appointed as one of the constituents in the top 30 most prospective stocks in the country, referring to the company's well-maintained fundamentals and consistency in showing brilliant performance by continuously gaining profits.
Bank bjb's performance was indeed quite good during January to June 2020 period. Even though it had to face challenges due to COVID-19 pandemic outbreak, bank bjb consistently showed positive performance by recording its growth. Referring to the bookkeeping records, bank bjb managed to collect total profit of Rp.808 billion in 1st Semester 2020. This profit growth was followed by an additional asset value of Rp.125.3 trillion or grew by 3.8% year on year (y-o-y).
The credit sector, which is one of the main pillars of profit growth, almost touched double digits, 9.8% y-o-y. The total amount of credit extended reached Rp. 85.8 trillion. This growth was also followed by the company quality maintenance on non-performing loan (NPL) ratio of 1.6% or dropped by 14 basis points y-o-y. This NPL record is much lower than the national banking average bad credit record until April 2020, which was 2.89%.
These positive notes were the factors that led to the inclusion of bank bjb issuers in IDXQ30 index. IDXQ30 index by IDX is taken from IDX80 index, whose stocks are selected by considering fundamental quality variables such as return on equity (ROE), debt to equity ratio (DER), and earning variability (EV).
"Bank bjb has consistently shown good performance despite being confronted with challenging situations. We will maintain this positive performance record along with the expansion plans that have been considered by prioritizing the principle of prudence and continuing to carry out strict and detailed Good Corporate Governance so that the company continues to record quality and sustainable growth," said Head of Corporate Secretary Division bank bjb Widi Hartoto.
The IDXQ30 index is expected to be a reference for investors in investing their stocks with high liquidity and large caps. With the entry of bank bjb into this index, BJBR is expected to be one of the options for investment in the capital market.
The IDXQ30 index gets reviews four times a year, both with major and minor reviews. Major reviews are conducted every January and July and aim to evaluate the index constituents and the weight used for calculating index. Meanwhile, minor reviews in May and November were conducted to evaluate the index weight.
DIVISI CORPORATE SECRETARY