Full Year 2024 Bank Rakyat Indonesia (Persero) Tbk PT Earnings Call Transcript
Key Points
- PT Bank Rakyat Indonesia (Persero) Tbk (BKRKF) maintained a strong net interest margin of 7.8% in Q4 2024, aligning with their guidance.
- The bank's profitability remained robust with a return on assets of 3.1% in Q4 2024.
- Loan growth was driven by corporate and medium segments, which grew by 23.6% and 21.6% respectively.
- The cost to income ratio decreased year-on-year to 41.6%, reflecting effective management of personnel and SG&A expenses.
- The bank's CASA ratio increased by 295 basis points year-on-year to 67.3%, indicating improved deposit composition.
- Micro asset quality issues persisted, with a spike in micro SMLs to 5.72% year-on-year.
- Loan growth slowed to 7% in 2024, below the bank's guidance, particularly in the micro and small business segments.
- The bank experienced a decline in Q4 2024 PPOP by 4% quarter-on-quarter due to the absence of cash passage payments.
- The cost of credit was above guidance at 3.23% for 2024, driven by slower loan growth and higher provisions.
- Asset quality challenges remain, with elevated NPLs in micro lending and subsidiaries, and a high cost of credit expected to persist in 2025.
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Good morning. We would like to thank you for joining us for Bank Rakyat Indonesia's 2024 earnings call. We would like to begin the meeting now.
And first, I would like to introduce the members of our Board of Directors who are joining us today; Our CEO, Sunarso; our vice CEO, [Pachator]; our CFO, Pertiwi; our Director of Risk, Agus Sudiarto; our Director of Micro Banking, Supari; our Director of Networks, Andrijanto; our Director of Consumer, Handayani; our Director of SME, Amam Sukriyanto; our Director of Corporate Banking, Agus Noorsanto. our Director of Compliance, Solichin; our Director of IT and Digital Banking, Arga Nugraha; and our Director of Human Capital, Agus Winardono.
I would like to mention a few points before we get started. First, for everyone joining us on the Zoom call, I would strongly encourage you to download a copy of our presentation materials currently available either from the Investor Relations homepage of Bank Rakyat, or from the link that
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