PT Bank QNB Indonesia Tbk shows progress in 2018 and strengthens the Bank’s foundation to accelerate performance
Jakarta, 26 June 2019 – Today, PT Bank QNB Indonesia Tbk (“Bank”) conducted an Annual General Meeting of Shareholders (“AGM”), which is located at the Head Office, QNB Tower, 18 Parc SCBD, Jl. Jend. Sudirman Kav. 52-53, Jakarta.
As per the Agenda of the AGM, the Bank published its Annual Report and the Financial Statements for the fiscal year ended on 31 December 2018, as audited by the Independent Audit Firm of Siddharta Widjaja & Partner, affiliated with KPMG, dated 29 March 2019, with an “Unmodified Audit Opinion”.
The Bank’s improving performance is demonstrated by its success to turn around losses in 2016 and 2017 into profit of IDR14.6 billion as well as a strong total asset of IDR20.5 trillion in 2018. The booked profit is also supported by the increase of net interest income which grew by 21.48% to IDR302.8 billion and other operating income which significantly increased by 263.55% to IDR1.87 trillion. Furthermore, the Bank’s profitability ratio also shows a positive result which reflected through the ROE of 0.42%, NIM of 1.73% and BOPO of 99.43%. BOPO which reduced from the previous year.
The Bank reported a declining loan book of 18.67% in 2018 or to IDR11.0 trillion from IDR13.6 trillion in 2017 as part of its strategic move to improve credit portfolio by selling non-performing loans (NPL). The Bank’s liquidity structure also improved from last year and was relatively stable during 2018 where Loan to Deposit Ratio (LDR) and Capital Adequacy Ratio (CAR) reached 72.59% and 26.50%, respectively. The Bank continues to build a better credit portfolio, including conducting close monitoring towards the Bank’s liquidity performance and the fluctuating economy.
Moreover, the Bank also announced the changes on the Board of Commissioners and Board of Directors, where Fareeda Ali Abulfath is appointed as the Bank’s President Commissioner replacing Heba Ali Ghaith Al-Tamimi and appointing Khalid Ahmed Al Sada (subject to fit and proper test) as Commissioner. Both members of the Board of Commissioners have extensive experience of more than 20 years and hold important role at Qatar National Bank (Q.P.S.C.).
In the AGM Agenda, the Bank accepted the decisions of Junita Wangsadinata and Novi Mayasari for their tendered resignations and the decision is accepted by the shareholders during the AGM. The Bank thanked both members of the Board of Directors for their contributions in helping the Bank reached its current position and performance.
During the AGM, the Bank also announced the joining of Geoffry Nugraha as part of its Board of Directors. Geoffry is a seasoned banker with a strong background of Wholesale Banking. His presence is hoped to be able to drive more strategic approach in growing the Bank’s wholesale market segment as part of our focus in 2019.
The Bank’s effort to revamp in order to improve performance is fully supported by Qatar National Bank (Q.P.S.C.) or “QNB Group” as the ultimate shareholder. The support is reflected by providing advisory, implementing robust rules and procedures towards the Bank’s operations and business, sending experts with high competency as well as managing a better IT system to ensure the best experience for customers when accessing our products and services. The solid presence of QNB Group becomes one of the support systems to improve QNB Indonesia’s credibility and performance, as align with QNB Group’s business focus and vision to become the leading bank in the Middle East, Africa and Southeast Asia by 2020.
On the other hand, to solidify its foundation, the Bank also conducted rightsizing to re-conditioning the position as a competitive bank in the industry. The Bank also restructured its credit portfolio as well as revisit its products and services to achieve the best quality for the customers. These efforts are taken to stabilize the Bank’s capability and position.
Stewart Donald Hall, who has actively taken the role as President Director of QNB Indonesia as of 3 May 2019, stated that by leveraging a strong foundation, the Bank is more confident to move forward to grow stronger in 2019. This is trusted to also place the Bank in the fit to growth position.
About QNB Indonesia
PT Bank QNB Indonesia Tbk was established in Medan in 1913 under the name NV Chunghwa Shangyeh Maatschappij which later in 1965 changed its name to PT Bank Kesawan. The Bank moved its headquarters to Jakarta in 1990. In 2011, the Bank strengthened its capital structure through the Right Issue that made Qatar National Bank (Q.P.S.C.) or QNB Group as the controlling shareholder and later changed its name to PT Bank QNB Kesawan Tbk.
The Bank made a major transformation in its name and logo on 5 November 2014; from PT Bank QNB Kesawan Tbk changed to PT Bank QNB Indonesia Tbk. Currently, the Bank has 27 branches and 48 ATMs spread across Indonesia and is supported by more than 100,000 ATM Bersama and PRIMA network. In 2018, through Right Issue VI ownership of QNB Group shares rose to 92.48%. The Indonesian Securities Agency (PEFINDO) assigned a rating of "idAA" to PT Bank QNB Indonesia Tbk which is valid from 23 April 2019 to 1 April 2020.
About Qatar National
Bank Q.P.S.C. (QNB Group) Qatar National Bank (Q.P.S.C.) or QNB Group was established in 1964 as the country’s first Qatari-owned commercial Bank, with an ownership structure split between the Qatar Investment Authority (50%) and (50%) held by members of the public. In 2019, Brand Finance named Qatar National Bank (Q.P.S.C.) as the most valuable banking brand in the Middle East and Africa with value of USD 5.0 billion.
Qatar National Bank (Q.P.S.C.) today is present in more than 31 countries spanning across three continents and 1,100 locations, serving 24 million customers. This network expansion comes in support of its vision to become a leading bank in the Middle East, Africa and Southeast Asia by 2020. To date, Qatar National Bank (Q.P.S.C.) remains a strong and highly rated Bank with a growing international footprint.
For more information, please contact:
PT Bank QNB Indonesia Tbk
P. (+62 21) 515 5155