In the third quarter of 2024, several major banks in Indonesia have reported their financial performances, revealing a mixed bag of results. Notable institutions such as BCA, BNI, Bank Permata, and Bank Panin have showcased varying growth in their net profits for the first nine months of the year. While BCA, BNI, and Bank Permata achieved increases in their net earnings, Bank Panin faced a decline.

BCA's Performance

Bank Central Asia (BCA) reported a consolidated net profit of Rp41.1 trillion, marking 12.8% year-on-year (YoY) growth. President Director Jahja Setiaatmadja highlighted that this positive performance is linked to the bank's credit disbursement, which reached Rp877 trillion, representing a 14.5% YoY increase. The growth was notably supported by high-quality financing expansion and increased transaction volumes. Corporate credit surged by 15.9% YoY to Rp395.9 trillion, while small and medium enterprises (SME) and consumer segments also showed strong growth rates of 14.2% and 13.1% YoY, respectively.

BNI's Results

Bank Negara Indonesia (BNI) recorded a consolidated net profit of Rp16.3 trillion, up 3.5% YoY from Rp15.75 trillion. During this period, BNI's credit distribution amounted to Rp735.02 trillion, increasing by 9.5% YoY. The bank's deposits grew by 5.8% YoY to Rp769.74 trillion. Notably, BNI improved its non-performing loan (NPL) ratio to 2% from 2.3% the previous year, reflecting enhanced credit quality. Director Royke Tumilaar emphasized the importance of retail savings growth, driven by the bank's recent transformation initiatives.

Bank Permata's Achievements

PT Bank Permata Tbk (BNLI) reported a net profit of Rp2.8 trillion, reflecting a substantial 30.1% growth YoY. This success is attributed to the robust credit growth across corporate, commercial, and consumer segments, which increased by 8.6% YoY to Rp150.8 trillion. Additionally, the bank's total deposits rose to Rp183.3 trillion, with a CASA ratio of 55.1%. The improved loan-to-deposit ratio (LDR) of 81.6% also indicates better liquidity management.

Challenges Faced by Bank Panin

In contrast, Bank Panin's net profit fell to Rp2.3 trillion, an 18.98% decrease compared to the previous year. The decline was mainly due to rising interest rates, which pressured the net interest margin (NIM) down to 4.44% from 5.06% in Q3 2023. President Director Herwidayatmo noted that the increase in credit loss provisions also impacted profitability, despite a 3.86% rise in total consolidated assets to Rp230.6 trillion.

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