GoTo-backed, Indonesia-listed digital bank Bank Jago booked a sharp rise in earnings in the first quarter of 2026, supported by sustained growth in loans and customer deposits.
Net profit rose to 86 billion rupiah ($5 million) in the January-March period, up 42% from 60 billion rupiah a year earlier.
The bank’s net interest income climbed 23% year-on-year to 727 billion rupiah ($42.2 million), while operating income rose 25% to 863 billion rupiah ($50 million), reflecting sustained business momentum across both lending and fee-based activities.
On the lending side, loans grew 24% year-on-year to 25.2 trillion rupiah ($1.5 billion), driven largely by partnership-based lending across digital ecosystems and financial institutions. At the same time, third-party funds rose 23% to 26.4 trillion rupiah ($1.53 billion), indicating continued traction in customer acquisition and engagement.
President director Arief Harris said the growth in deposits reflects rising customer trust in the platform, adding that the bank’s app is evolving beyond basic financial services into a broader financial management platform.
“The increase in deposits shows that more customers are coming in and placing their trust in Bank Jago’s products and services,” he said in a statement. “The Jago app is no longer just a place to save and transact, but has become a platform for customers to grow their finances more holistically.”
Customer numbers reached 19.4 million by end-March 2026, up from around 16 million a year earlier, even after the bank cleaned up dormant accounts. Of this, around 15.2 million are funding users.
The lender’s CASA ratio stood at 53%, equivalent to 13.9 trillion rupiah, helping support margins amid a competitive funding environment, while time deposits accounted for the remaining 47%, or 12.5 trillion rupiah.
Beyond core banking, the company has been expanding features tied to investment and wealth management, including integrations with mutual funds and digital asset products, as part of efforts to deepen user engagement and monetisation.
On the lending side, Bank Jago continues to rely heavily on its ecosystem strategy, embedding financial services into partner platforms to drive both loan growth and customer acquisition.
“This achievement is closely tied to our collaboration strategy with various partners, including digital ecosystems and platforms,” Arief said.
Despite the rapid expansion, asset quality remained manageable, with gross non-performing loans at around 0.8%. Total assets rose 22% year-on-year to 39.5 trillion rupiah, while capital adequacy stood at 29.9%, providing headroom for further expansion.
