In 9M24, BMRI posted a net profit of +7.56% YoY and +11.7% QoQ to IDR 42.02 T (9M23: IDR 39.06 T; 2Q24: IDR 13.85 T & 3Q24: IDR 15.47 T). Net Interest Income (NII) still posted an increase of +3.81% YoY and +2.52% QoQ to IDR 74.60 T (9M23: IDR 71.86 T; 2Q24: IDR 24.19 T & 3Q24: IDR 25.52 T). BMRI’s Non Interest Income in 9M24 experienced accelerated growth of +12.6% YoY and +15.8% QoQ to IDR 30.79T (9M23: IDR 27.36T; 2Q24: IDR 9.83T & 3Q24: IDR 11.34T), which was driven by growth in recurring income especially digital service fees and income from BMRI’s subsidiaries. As for operating costs, it was relatively stable and insignificant, thus pushing BMRI’s PPOP (Pre-Provision Operating Profit) up +7.22% YoY and +4.58% QoQ to IDR 66.86T as of 9M24 (9M23: IDR 62.36T; 2Q24: IDR 22.32T & 3Q24: IDR 23.34T). As a corporate credit giant, BMRI continued to deliver strong lending growth, particularly in the Corporate and Commercial segments, where lending grew +20.8% YoY as of 9M24 with total loans disbursed of IDR 1,590T. This achievement exceeded the upper limit of guidance at 18.0% for FY24 loan growth. In addition to strong loan growth, BMRI continues to maintain and improve its asset quality.
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