GoTo-backed Indonesian digital lender Bank Jago booked a net profit of 127 billion rupiah (approximately $7.8 million) in the first half of 2025, marking a 154% jump from the 50 billion rupiah ($3 million) clocked in the same period last year.
The growth was a result of a surge in lending activity. As of end-June 2025, Bank Jago’s total loans disbursed stood at 21.4 trillion rupiah ($1.3 billion), up 37% from a year ago.
A continued partnership strategy for loan distribution, collaboration with various partners such as digital ecosystems, financing companies, and other financial institutions, helped the company grow its loan book, according to a statement on Friday.
Bank Jago has also started direct lending through its mobile app.
“Observing the potential risks in today’s challenging economic environment and identifying available opportunities, we have managed to sustain strong business growth momentum and build customer trust in our products and services,” said Arief Harris Tandjung, President Director of Bank Jago.
The bank also saw third-party deposits rise by 51% to 22.4 trillion rupiah. Current accounts and savings accounts (CASA) accounted for 11.4 trillion rupiah, while term deposits made up 10.7 trillion rupiah.
These gains helped increase total assets by 34% year-on-year to 32.4 trillion rupiah.
Customer acquisition also remained strong, with total users reaching 17.2 million, compared with 10 million in June 2024. Of these, 13.7 million were funding customers using the Jago and Jago Syariah apps.
The bank reported a gross non-performing loan (NPL) ratio of just 0.3%, significantly below the national average, reflecting prudent risk management.
Its loan-to-deposit ratio (LDR) stood at 96%, and the capital adequacy ratio (CAR) remained strong at 35.9%, underscoring its capacity to support future expansion.
“These achievements continue to motivate us to keep innovating and collaborating within the digital ecosystem so we can provide better services for our customers and drive sustainable growth,” Tandjung concluded.
Founded in 1992 under the name Bank Artos Indonesia, the lender rebranded as Bank Jago in 2019. Its majority shareholders are PT Metamorfosis Ekosistem Indonesia and Wealth Track Technology Limited, with GIC Private Limited and GoTo Financial joining as shareholders in 2020.
