Q3 2024 Bank Negara Indonesia (Persero) Tbk PT Earnings Call Transcript
Key Points
- PT Bank Negara Indonesia (Persero) Tbk (PTBRY) reported a loan growth of 9.5% year on year, indicating a positive trend in lending activities.
- The company's net interest margin (NIM) improved to 4.4% in the third quarter, surpassing initial expectations.
- CASA (current account savings account) grew by 5.5% year on year, with significant growth in savings accounts at 7.4%, reflecting strong deposit growth.
- The bank's digital initiatives, including the launch of the new mobile banking application 'W by BNI', have shown promising results in customer acquisition and transaction frequency.
- PT Bank Negara Indonesia (Persero) Tbk (PTBRY) has made significant strides in green financing, with IDR71 trillion in green loans, demonstrating its commitment to sustainability.
- The SME segment experienced a contraction, particularly in the KUR portfolio, which decreased by 22% year on year.
- Operating expenses grew by 7.4% year on year, driven by investments in digital platforms and cybersecurity, which could impact profitability.
- The bank's time deposits contracted by 2.6% year on year, indicating a shift away from more expensive funding sources.
- Despite improvements, the loan at risk ratio remains relatively high at 11.8%, suggesting ongoing asset quality challenges.
- The write-off of IDR14.2 trillion in loans, a 41% increase year on year, highlights the bank's efforts to clean up its loan book but also indicates potential credit risk issues.
Good afternoon. Ladies and gentlemen, on behalf of Bank Negara Indonesia (Persero) Tbk PT, I'd like to extend a warm welcome to each of you. We are thrilled to have such a distinguished group of partners and colleagues joining us today on BNI call for the third quarter of 2024. It's a real pleasure to have valued analysts and shareholders here as we gather to reflect on BNI's progress, share some exciting and wonderful updates and discuss the outlook together. We got, we got a lot of important information to share with you, insight into our strategy, financial performance and future plans. So we hope that you'll find today both informative and also engaging. Please feel free to ask questions or share your thoughts throughout the call. Just simply type your questions into the Q&A box on your Zoom App. We have a translator. So when or if our director answer your question in Baha Indonesia, you can still listen to English. Now, I'd like to introduce our board of directors who are here with us first, our President director or CEO Royke Tumilaar, deputy President director Putrama Wahju Setyawan, Papa Paulo Carta
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