PT Bank Negara Indonesia (Persero) Tbk (OTCPK:PBNNF)

Half Year 2026 Bank Negara Indonesia (Persero) Tbk PT Earnings Call (Indonesian) Transcript

Aug 5, 2026 / 10:59 AM GMT

Release Date Price: $0.24

Transcript

Key Points

Positve

PT Bank Negara Indonesia (Persero) Tbk (PTBRY) achieved its highest core profit (PPOP) in five years, reaching 18.5 trillion rupiah, up 14.5% year-on-year, driven by strong growth in net interest income and record fee income.
The company's loan book grew 24% year-on-year, with 85% of growth coming from its core segments (large corporate, enterprise, and government-linked programs), and private sector loan growth outpaced related-party growth.
Asset quality is stable and improving, with the loan at risk ratio improving from 11% to 8.1% and the NPL ratio holding steady at 1.9%, while new NPL formation declined 26% year-on-year.
The bank maintains a strong liquidity position with an LDR of 87.7% (below the industry average of 91.7%), LCR at 129.8%, and NSFR at 132.3%, providing a buffer against industry-wide funding pressures.
Digital engagement is accelerating, with the mobile app 'Warner' growing 76% in users (over half new to the bank) and BNI Direct seeing 50% growth in transactional current account balances, indicating a strengthening core funding franchise.
The bank's transformation initiative (BRIF) is now running nationwide, empowering branches to operate like small businesses and focus on growing low-cost funds (CASA), which grew 11.2% year-on-year.
Management is proactively building a stronger loan loss reserve buffer (3.8%, 20 basis points higher than peers) by frontloading provisioning, positioning the bank for more sustainable long-term growth.

Negative

Net profit growth was only 6.6% year-on-year, significantly lower than PPOP growth of 14.5%, due to a deliberate 42.1% increase in provisioning charges, which weighs on short-term profitability.
Net interest margin (NIM) declined year-on-year from 3.8% to 3.6%, and the full-year NIM guidance was revised down to 3.3%-3.5% from 3.5%-3.8%, reflecting rising cost of funds and expected withdrawal of Ministry of Finance SAL placements.
Cost of third-party funds increased in the second quarter to 2.63% from 2.49% in the first quarter, driven by intensifying industry-wide deposit competition and higher SRB yields/volumes.
The bank experienced a 4.1% quarter-on-quarter decline in current account balances, as it deliberately let go of non-transactional, price-sensitive deposits, which could pressure funding costs in the near term.
Asset quality in the consumer segment is deteriorating, with NPL, special mentioned loans, and loan at risk ratios trending upward, requiring a more cautious stance and limiting growth in that segment.
Total loan growth of 24.4% year-on-year is well above the full-year guidance of 8-10%, and management plans to moderate the pace in the second half, which could slow revenue momentum.
The second half of 2026 is expected to be more challenging due to higher-for-longer US rates, central bank actions to stabilize exchange rates, and rising industry loan-to-deposit ratios, all of which are pushing cost of funds higher.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BBNI.JK - Bank Negara Indonesia (Persero) Tbk PT
Half Year 2026 Bank Negara Indonesia (Persero) Tbk PT Earnings Call (Indonesian)
Aug 05, 2026 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone, and welcome to BNI's first half of 2026 earnings call. My name is Sigith, and I'm proud to be your host today.

Thank you for your continued interest and support for us, BNI, and today we will discuss our financial performance in the first half of 2026, how we navigated the evolving macroeconomic environment, and the progress we have made in strengthening our core business fundamentals. We are pleased to be joined today by our members of BNI's Board of Directors.

First, we have Babaputra Mawahiu Setiawan, President Director.

Ibu Alexandra Askandar, Deputy President Director.

Baba Hussein Paolo Carta Jumina, Finance and

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