PT Bank Negara Indonesia (BBNI) Q3 2024 earnings summary

Executive summary

• Net profit for the nine months ended September 30, 2024, reached IDR 16.31 trillion, up 3.5% year-on-year, driven by higher NIM, strong fee income, and disciplined operating expenses.

• Loan growth was 9.5% year-on-year, with total loans reaching IDR 735.02 trillion, supported by top-tier clients and sectoral diversification.

• Digital transformation accelerated with the launch of wondr by BNI and expansion of BNIDirect, boosting CASA and transaction volumes.

• ESG and sustainability initiatives advanced, with IDR 71 trillion in green loans and 26% of loans in the sustainable portfolio.

• Total assets increased to IDR 1,086.66 trillion as of September 30, 2024.

Financial highlights

• Net interest income for the nine months was IDR 29.44 trillion, with NIM at 4.15% for the period and 4.4% in Q3.

• Non-interest income grew 15% year-on-year, driven by trading income, cash recovery, and digital platform fees.

• CASA ratio increased to 70.3%, with savings accounts up 7.4% year-on-year.

• Operating expenses increased 7.4% year-on-year, mainly due to digital investments and cybersecurity.

• Basic earnings per share for the period was IDR 437.

Outlook and guidance

• FY24 loan growth guidance maintained at 10–12%, with NIM target ≥4.0% and credit cost at ~1.0%.

• Funding structure transformation and digitalization expected to drive further growth and efficiency.

• Management expects continued digital adoption and stable macroeconomic conditions to support growth.