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The Competition of Tycoon Owned Banks, CT Group and Best Djarum?

Bisnis.com, JAKARTA – The Covid-19 pandemic has provided a significant sentiment for the national banking industry.

One of the most visible indicators to illustrate the impact of the Covid-19 pandemic on banking performance is the company’s profit. This cannot be separated from the company’s steps to restructure and be more selective in channeling credit in order to reduce the negative impact of the pandemic.

Meanwhile, in Indonesia, a number of private banks are listed as owned or controlled by a number of well-known tycoons. How are the tycoons’ banks performing? Is it still good in the middle of a pandemic? Who is the best performer compared to other players?

Talking about the tycoon’s banking business, of course you cannot deny the presence of Chairul Tanjung. The boss of CT Corp is considered to be one of the conglomerates that has quite a number of banking companies.

Uniquely, one of CT’s banks was the company that recorded the highest profit increase compared to other tycoon-owned banks, namely PT Bank Mega Syariah. At least until the third quarter of 2020, Bank Mega Syariah’s profit managed to increase 109.62 percent year on year (yoy) to IDR 63.60 billion.

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