Implement Five Pillars of Transformation, Bank Jatim Achieves ICAII 2023 Award
Date: 20 september 2023Categories :
JAKARTA, September 20, 2023. PT Bank Pembangunan Daerah Jawa Timur Tbk or bankjatim again won a prestigious award. After successfully receiving the title of Top 50 Issuers a few days ago, this time bankjatim managed to get an award at the IDX Channel Anugerah Inovasi Indonesia (ICAII) 2023 event on Wednesday (20/09). Located in the Main Hall of the Indonesia Stock Exchange Jakarta, bankjatim won the Product Innovation and Business Model category award after being considered successful in implementing the 5 (five) Transformation Pillars Innovation in bankjatim. The award was received directly by the President Director of bankjatim Busrul Iman.
With the theme "Advancing Agile Innovation for Sustainable Growth", ICAII 2023 gives several awards and also categories to companies that have successfully survived amid the current economic uncertainty. Geopolitical turmoil, rising inflation, fed interest rates and a number of other challenges are a concern, so innovation is key for companies to grow and be sustainable.
On this awarding night, ICAII 2023 is divided into 4 categories, namely first, the Internal Category Award given to companies that have successfully innovated by involving all aspects in the company. Second, the External Category Award is given to companies that have successfully innovated in collaborating with other parties or other companies.
Third, the Sustainability category award is given to companies that make innovations in fulfilling the interests of the company but do not forget the interests of future generations either in the form of CSR or good GCG implementation. And finally, the Product and Business Model Category Award is given to companies that are able to innovate in the development of new products starting from idea generation to commercialization.
Busrul explained, the Product Innovation and Business Model category awards were achieved by bankjatim thanks to the five pillars of transformation that have been implemented since this year in order to realize the vision of bankjatim to become the number 1 BPD in Indonesia. "The five pillars of transformation include Organizational Transformation through the application of credit segmentation throughout the bankjatim business network as well as increasing the number of account officers and funding officers," Busrul explained.
Then the transformation of human capital through the fulfillment of employees, especially in the field of business, which is done through shifting with the source of administrative employees and improvements in terms of facilities and incentives to support the performance of bankjatim employees. The next transformation that is no less important is the transformation of corporate action as a form of bankjatim's efforts to improve the company's business by way of capital participation of 15% of the existing capital in the form of a Bank Business Group (KUB).
In the current digital era, of course, bankjatim is also committed to providing convenience and comfort for customers to conduct financial transactions by implementing digital transformation. "Of course, the application of digital transformation is also balanced with an increase in security systems and the development of business processes bankjatim", said Busrul.
Through the implementation of the five pillars of transformation, bankjatim successfully passed the first semester of 2023 with a fairly good performance. During the first semester of this year, bankjatim lending was able to record a significant increase above the average of 13.02 percent (YoY). For the highest credit growth occurred in the commercial and SME sector by 25.55 percent (YoY) and the consumer sector 5.77 percent (YoY).
The credit growth that has been achieved by bankjatim has made the company's LDR even better. From 45.88% in the first semester of 2022 increased to 59.54% in the first semester of 2023. Bankjatim's credit distribution was also followed by improvements in loan quality. This can be seen from the Loan At Risk (LAR) ratio which sloped at 5.77% in the first semester of 2023, compared to 6.86% in the previous year (YoY). The Gross Non Performing Loan (NPL) ratio of bankjatim also decreased at 2.80% in the first semester of 2023, compared to 4.12% in the same period the previous year (YoY).
Meanwhile, in his remarks, President Director of the Indonesia Stock Exchange Imam Rachman explained, the purpose of organizing ICAII 2023 is to provide appreciation to companies for an innovation that has been carried out as capital to build further innovation. Then, it is also a means of benchmarking so that companies can find out how well they perform when compared to other companies in formulating and implementing an innovation.
Meanwhile, in his remarks, President Director of the Indonesia Stock Exchange Imam Rachman explained, the purpose of organizing ICAII 2023 is to provide appreciation to companies for an innovation that has been carried out as capital to build further innovation. Then, it is also a means of benchmarking so that companies can find out how well they perform when compared to other companies in formulating and carrying out an innovation.
"Another goal is to get inspiration for the development of innovation initiatives from other companies, which can be applied both at the level of strategy and operations in the company, to knit a network of Indonesian innovation people so that efforts are built to strengthen and grow together," he said.