Coal Average Selling Price Increase As of 1H24, BMRI posted a net profit of +5.23% YoY and +9.03% QoQ to IDR 26.55T (1H23: IDR 25.23T & 1Q24: IDR 12.70T). Net Interest Income (NII) still increased by +3.75% YoY and +5.11% to IDR 49.08T (1H23: IDR 47.31T & 1Q24: IDR 24.19T). BMRI’s Non Interest Income in 1H24 grew +5.74% YoY and +2.56% QoQ to IDR 19.41T (1H23: IDR 18.36T & 1Q24: IDR 9.58T). BMRI’s PPOP increased 3.47% YoY and 5.27% QoQ to IDR 43.52T (1H23: IDR 42.06T & 1Q24: IDR 21.20T). BMRI’s encouraging results were supported by its shining performance amidst the ongoing storm of high interest rates and tight liquidity, as evidenced by lending growth that still outpaced guidance along with strong CASA growth that outpaced the industry. In addition, NIM which in the last quarter contracted due to a significant increase in Cost of Fund (CoF), began to return to expansion this quarter, which was supported by an increase in credit yield after loan repricing which was in line with credit growth in the Wholesale Segment (Corporate & Commercial Segment). Asset Growth As of 1H24, BMRI posted a net profit of +5.23% YoY and +9.03% QoQ to IDR 26.55T (1H23: IDR 25.23T & 1Q24: IDR 12.70T). Net Interest Income (NII) still increased by +3.75% YoY and +5.11% to IDR 49.08T (1H23: IDR 47.31T & 1Q24: IDR 24.19T). BMRI’s Non Interest Income in 1H24 grew +5.74% YoY and +2.56% QoQ to IDR 19.41T (1H23: IDR 18.36T & 1Q24: IDR 9.58T). |
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