Coal Average Selling Price Increase BBCA began the year with a solid start as it posted a Net Profit of IDR 12.9 T in 1Q24 (+11.7% YoY 1Q23: IDR 11.5 T & +5.4% QoQ; 4Q23: IDR 12.2 T). This impressive start of the year. This impressive early-year performance was supported by strong and solid top-line growth, driven by an increase in Net Interest Income (NII), which grew by 7.1% YoY to IDR 19.8 trillion (QoQ +2%; 4Q23: IDR 19.5 trillion), and non-interest income, which showed a growth of 6.8% YoY to IDR 6.4 trillion in 1Q24. Besides the still-growing NII, another factor that boosted BBCA’s early year performance for 1Q24 was the solid and increasingly healthy asset quality. Aside from the impressive performance of profitability, another surprise from BBCA was that BBCA’s loan growth in 1Q24 was still growing in double digits on an annualized and quarterly basis (Loan Growth: +17.1% YoY and +3.1% QoQ). Asset Growth BBCA began the year with a solid start as it posted a Net Profit of IDR 12.9 T in 1Q24 (+11.7% YoY 1Q23: IDR 11.5 T & +5.4% QoQ; 4Q23: IDR 12.2 T). This impressive start of the year. |
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