4Q17 Performance Review
BMRI posted the interest income of IDR20.2 trillion (+1.9% y-y) and the net interest income of IDR13.5 trillion (+2.4% y-y). The operating revenue grew higher by 7% y-y into IDR20.1 trillion underpinned by the substantial increment of 17% into IDR6.6 trillion in non-interest income. The net profit was IDR5.6 trillion or soaring by 214% y-y due to the anomaly posting of net profit attributable to the high provision cost in 4Q16.

Room for Growth in Credit
Although the banking industry is loomed by lagging growth, BMRI is capable of posting the stable credit growth at the average of 10% within the last two years. It is bolstered by the robust performance of the corporate segment with the average growth of 15%.

We project that it will achieve the growth of 12.4% in 2018. The robust corporate segment coupled with the consumer and micro segment of which contribution is concertedly boosted will bolster the room for growth in credit. The consumer and micro segment is capable of posting the current growth of 20%.


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