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BNI obtained Rp 4.08 trillion of net profit in Q1 2019

24 April 2019 04:40 PM  Company: PT. Bank Negara Indonesia (Persero) Tbk[BBNI]
Rp. 8,350  +50 (0.6%)

JAKARTA. PT Bank Negara Indonesia Tbk (BBNI) recorded a growth in its net profit of 11.5% YoY from Rp 3.66 trillion in March 2018 to Rp 4.08 trillion at the end of March 2019.

The increase in net profit was driven by the increase in the company's Net Interest Income (NII), which grew from Rp. 8.50 trillion in March 2018 to Rp. 8.86 trillion in March 2019  (4.3% YoY).

With the growth of the NII and coupled with an increase in its non-interest income (Fee Based Income), efficiency of operational expenses, as well as maintained asset quality, helped to increase the company's net profit.

BNI's credit quality continues to show improvement, as indicated by the ratio of non-performing loans (NPLs) which was maintained at 1.9%. With the improvement in credit quality, BNI was able to reduce its credit expenses from 1.7% in March 2018 to 1.3% in March 2019.

BNI's financial performance is inseparable from the performance of its subsidiaries.

BNI has 5 subsidiaries which include BNI Syariah, BNI Life, BNI Multifinance, BNI Securities, and BNI Asset Management which in total managed to gain Rp 390.31 billion of profit in Q1 2019 and recorded a growth of 37.6% YoY. This contribution is equivalent to 10% of the total net profit of BNI. (AM/AR)

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PT. Bank Negara Indonesia (Persero) Tbk [BBNI]   Rp. 8,350   +50 (0.6%)