JAKARTA. PT Bank Rakyat Indonesia Tbk (BBRI) 's net profit declined by 42.94% (YoY) to IDR 14.15 trillion in the third quarter of 2020.
According to the bank's financial report released today (11/11), the decline in net profit was mainly caused by the decline in its net interest income. The bank's NII declined by 7.47% YoY from IDR 60.58 trillion to IDR 56.05 trillion.
An increase in provision expenses (from IDR 15.11 trillion to IDR 18.58 trillion) and cost of labour (from IDR 17.79 trillion to IDR 21.20 trillion) also contributed to the massive decline.
However, the increase in commission/fee and administration income (from IDR 9.74 trillion to IDR 11.31 trillion) has kept the bank's net profit from deteriorating even further. (AM/AR)