JAKARTA. PT Bank Tabungan Negara (Persero) Tbk (BBTN) recorded a decline in its net profit of 8.24% in the first semester (1H) of this year, from Rp 1.42 trillion recorded in 1H 2018 to Rp 1.31 trillion.
Nixon L. P. Napitupulu, Director of BBTN, said that the decline was triggered by the company's Net Interest Margin (NIM) that became increasingly thin. During the first semester of this year, BBTN's NIM only reached 3.53%. In the same period last year, the company was able to maintain NIM at the level of 4.17%.
"Our NIM is indeed down because, at the end of last year, we were piling up a quite large amount of deposit," Napitupulu said on Monday (19/8). "But we are certain that the special rate, that fell at the end of last year, it will not happen again this year," explained Napitupulu.
Assuming that Bank Indonesia's reference rate remains stable, said Napitupulu, BBTN will be able to improve its NIM until the end of this year. "At the end of the year, we project NIM in the range of 3.9% to 4.0%," said Napitupulu. (KR/AR)