Company Report | [BBNI] Discover a Strong Performance Recovery in 3Q24

Coal Average Selling Price Increase

BBNI recorded a performance recovery in 3Q24, as it posted +3.5% profit growth to IDR 16.31 T on a year-on-year basis. Quarterly, BBNI’s net profit grew +4.7% to IDR 5.62 T in 3Q24, which was driven by top line increase supported by quarterly Net Interest Income (NII) growth of +7.1% QoQ to IDR 10.37T in 3Q24 (2Q24: IDR 9.68T). On a year-on-year basis, NII still contracted -5.5% to IDR 29.44T as of 9M24 (9M23: IDR 31.16T). Non-interest income, especially recovery income and feebased income, also boosted BBNI’s performance in 3Q24. Fee based income grew +12.2% YoY to IDR 11.75T in 9M24 (QoQ basis: +4.2% QoQ, 3Q24: IDR 4T) and Recovery Income grew +31% YoY to IDR 3.89T in 9M24 (QoQ basis: +20.5% QoQ, 3Q24: IDR 1.48T). Loan repricing as well as the downward trend of CoF in the last quarter helped BBNI to print an expansive NIM again.

Asset Growth

BBNI recorded a performance recovery in 3Q24, as it posted +3.5% profit growth to IDR 16.31 T on a year-on-year basis. Quarterly, BBNI’s net profit grew +4.7% to IDR 5.62 T in 3Q24, which was driven by top line increase supported by quarterly Net Interest Income (NII) growth of +7.1% QoQ to IDR 10.37T in 3Q24 (2Q24: IDR 9.68T).