Jakarta, 25 April 2025 - Entering 2025, PT Bank Jago Tbk continues to maintain its positive performance momentum in the first quarter. As a tech-based bank embedded within the digital ecosystem, Bank Jago has recorded growth in its customer base, third-party funds (DPK), and loan disbursement.
As of Q1-2025, Bank Jago has served 16.3 million customers, including 13 million funding customers through the Jago App. The number of Jago App users grew by 4 million compared to the end of Q1-2024, which had 9 million users.
The increase in funding customers aligned with a 62% year-on-year (yoy) growth in third party funds. As of March 2025, Bank Jago’s total third party funds reached IDR 21.4 trillion, up from IDR 13.2 trillion in March 2024. Of this total, the composition of current accounts and savings accounts (CASA) reached 54% or IDR 11.5 trillion, while term deposits (TD) accounted for 46% or IDR 9.9 trillion.
“With the current uncertainty in the global economy, we strive to keep the bank’s performance positive and growing healthily, while closely monitoring potential risks from ongoing volatility,” said Arief Harris Tandjung, President Director of Bank Jago.
On the lending side, Bank Jago recorded a 42% yoy increase. By the end of Q1-2025, total loans reached IDR 20.3 trillion, up from IDR 14.3 trillion in the same period last year. This loan growth was driven by collaborative strategies with various partners, including digital ecosystems and platforms, financing companies, and other financial institutions.
Bank Jago disbursed loans with high quality by prioritizing prudential principles. This was reflected in its low gross non-performing loan (NPL) ratio of 0.3%, which is below the nationwide banking average.
The growth in lending has pushed Bank Jago’s total assets to IDR 32.5 trillion, up 44% from IDR 22.5 trillion in the same period last year. Meanwhile, the bank posted a net profit after tax of IDR 60 billion by the end of March 2025, a 178% increase from IDR 22 billion in March 2024.
Bank Jago’s capital adequacy ratio (CAR) reached 36.4%, indicating a strong capital base to support future business expansion. In addition, the loan-to-deposit ratio stood at 94%, reflecting healthy liquidity levels.
“This achievement is proof that Bank Jago remains focused on growing as a tech-based bank that prioritizes innovation and collaboration, while maintaining solid fundamentals and sound risk management. In the face of challenging conditions, we continue to apply prudential principles while seeking sustainable growth opportunities,” Arief concluded.
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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 (i.e., consumers), mass market, and micro, small, and medium enterprises (MSMEs).
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
