Press Release Jakarta, Indonesia - May 22, 2024

Bank Jago Holds Annual General Meeting for the 2023 Fiscal Year

Jakarta, 22 May 2024 – PT Bank Jago Tbk held its Annual General Meeting of Shareholders (AGMS) for the 2023 fiscal year today. The AGMS approved all the agenda items presented at the meeting call, including the ratification of the company’s annual report for the 2023 fiscal year and the appointment of the board of directors and commissioners for the 2024-2027 period.

As a technology-based bank that utilize a collaborative business model with the digital ecosystem, Bank Jago reported positive achievements throughout 2023. This demonstrates Bank Jago's consistency in prioritizing innovation and collaboration with the digital ecosystem, resulting in quality growth in terms of customer numbers, third-party funds (DPK), and credit disbursements.

By the end of 2023, Bank Jago reached 10.2 million customers, including 8.1 million funding customers using the Jago App. The number of Jago App users increased by 3 million compared to the end of 2022, which had 5.1 million users.

The increased number of Jago App users has positively affected the amount of third-party funds (DPK). At the end of 2023, DPK amounted to IDR 12.1 trillion, growing 46% compared to IDR 8.3 trillion at the end of 2022. Loan disbursements also recorded growth, with loans reaching IDR 13 trillion at the end of 2023, up 38% from IDR 9.4 trillion at the end of 2022.

Credit growth positively impacted asset growth, which increased by 26% to IDR 21.3 trillion from IDR 17 trillion the previous year. Meanwhile, Bank Jago's net profit after tax reached IDR 72 billion, up 355% from IDR 16 billion in 2022.

“From the beginning, Bank Jago has consistently prioritized innovation and collaboration with the digital ecosystem as our unique value proposition. Collaboration with our strategic partners, including the GoTo ecosystem and online investment platforms Bibit and Stockbit, serves as the entry point for customers to access Jago's financial products and services,” said Bank Jago President Director Arief Harris Tandjung.

Aligned with the commitment to prioritize innovation and collaboration, the AGMS appointed Supranoto Prajogo as the company's director, effective upon approval from the Financial Services Authority (OJK). Supranoto has a career and experience spanning over 25 years in the banking and financial industry. Before joining Bank Jago on 1 August 2023, as Head of Finance, Technology & Operations, he served as Director of PT Kustodian Sentral Efek Indonesia from 2016-2023.

“Enriched by extensive experience in the banking and financial industry, we are confident that Supranoto can strengthen Bank Jago’s consistency in innovation and collaboration,” said Arief.

Below is the composition of Bank Jago's board of directors approved by the AGMS:

President Director: Arief Harris Tandjung

Director of Compliance: Tjit Siat Fun

Director: Peter van Nieuwenhuizen

Director: Sonny Christian Joseph

Director: Umakanth Rama Pai

Director: Supranoto Prajogo

 

About Bank Jago

Specifically built as a tech-based bank embedded within Indonesia’s digital ecosystem, Bank Jago aspires to enhance the growth of millions through life-centric digital financial solutions. Bank Jago develops banking products and services, both conventional and sharia, that can be used by everyone, including retail (consumer), mass market, or micro, small and medium enterprises (MSME).

Bank Jago develops Jago App, which is designed to be embedded within various digital ecosystems, and can be customized and personalized so it can be compatible with their ecosystems, and also with the users’ personal needs. The collaborations with various ecosystems enable users to live their life more conveniently.

 

For further information please contact:

Marchelo

Corporate Communication 

PT Bank Jago Tbk 

[email protected]

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