Fitch Raises Bank BJB’s National Long-Term Rating to AA-(Idn) with Stable Outlook

JABARNEWS | JAKARTA – The positive performance achieved by Bank BJB has also increased its financial management rating. Recently, the Fitch Rating Agency raised the National Long-Term Rating of PT. Regional Development Bank of West Java and Banten, Tbk. (bank bjb) from previously A+(Idn) to AA-(Idn) with a Stable Outlook. The rating upgrade achieved by bank bjb reflects Fitch’s view that the major shareholders will always provide support to bank bjb management in running the business and strengthening credit growth.

The National Long-Term Rating of ‘AA-(Idn)’ also indicates a low expectation of default risk compared to other issuers or bonds in the same country or monetary union. With an AA-(Idn) rating, Fitch assesses the risk level of default or default is only slightly different from the issuer or bond with the highest rating in the country.

President Director of bank bjb Yuddy Renaldi explained that bank bjb’s positive performance was achieved because it was able to manage its business aggressively but measurably. Also driven by various products such as local government employee loans (Pemda) which have proven to be a formidable market that is not easily taken over or imitated by other banks. Not to mention, digital products, corporate loans, and consumer loans.

Said Yuddy, bank bjb has carried out various innovations and development of digitalization. This has an impact on fee-based income which has increased significantly. No exception for digital channels or services that are increasingly popular.

Yuddy added, with an AA-(Idn) rating from Fitch Rating, it further proves that bank bjb has the ability to meet long-term financial commitments. “The rating also reflects bank bjb’s strong position in the captive market in the provinces of West Java and Banten, strong asset quality, and strong capital,” said Yuddy.

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