Jakarta, 21 March 2025 – PT Bank Jago Tbk recorded positive and healthy performance throughout 2024. Stronger innovation and collaboration with the digital ecosystem drove growth in customer numbers, third-party funds (DPK), and loan distribution.
At the end of 2024, Bank Jago’s customer base reached 15.3 million, including 12.1 million funding customers using the Jago App. The number of Jago App users increased by 4 million or nearly 50% compared to the end of 2023, which stood at 8.1 million users. Bank Jago continues to strengthen partnerships with ecosystem partners, including the GoTo ecosystem and the online mutual fund platform Bibit, which is seamlessly integrated with the Jago App, to acquire new customers.
The increase in Jago App users positively impacted the DPK amount, which reached IDR 18.8 trillion, growing 56% compared to IDR 12.1 trillion in 2023. The largest contributor to DPK was current accounts and savings accounts (CASA), totaling IDR 10 trillion or 53%, while the remaining 47% consisted of customer deposits amounting to IDR 8.8 trillion.
"Economic and political dynamics, both domestically and globally, made 2024 a challenging year. However, Bank Jago successfully navigated 2024 with positive achievements, recording strong business growth," said Bank Jago's President Director, Arief Harris Tandjung.
In terms of credit distribution, Bank Jago also recorded significant growth by the end of 2024, with total credit reaching IDR 17.7 trillion, an increase of 36% compared to 2023, which recorded IDR 13 trillion. Through collaborations with partners such as ecosystems and digital platforms, financing companies, and other financial institutions, Bank Jago maintained high-quality loan distribution, as reflected in its low non-performing loan (NPL) ratio of 0.2%.
This quality loan growth boosted Bank Jago’s total assets to IDR 28.5 trillion, a 34% increase from the previous year's IDR 21.3 trillion. The capital adequacy ratio (CAR) reached 44.4%, demonstrating strong capital levels to support future business expansion.
Sustained efforts in maintaining business growth also contributed to improved profitability. In 2024, Bank Jago recorded a net profit after tax of IDR 129 billion, growing 78% compared to its 2023 net profit of IDR 72 billion.
"This achievement demonstrates that Bank Jago's growth aligns with its focus as a tech-based bank that prioritizes innovation and collaboration while maintaining solid fundamentals and sound risk management. This serves as a strong foundation for Bank Jago to leap forward into the next phase of growth," said Arief.
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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
