Growing 11.1 Percent, Bank BCA Earns IDR 26.9 Trillion Profit In Semester I-2024

JAKARTA - PT Bank Central Asia Tbk (BBCA) and its subsidiaries recorded a net profit growth of 11.1 percent to IDR 26.9 trillion in the first semester of 2024. This growth was supported by quality financing expansion, as well as an increase in transaction volume and funding.

"Credits for businesses are recorded to grow solidly, both in the corporate and MSME segments. An increase also occurs in the consumer credit segment, supported by the implementation of the 2024 BCA Expoversary," said BCA President Director Jahja Setiaatmadja in an online press conference, Wednesday 24 July

Jahja continued, BCA also recorded an increase in total credit by 15.5 percent on an annual basis to IDR 850 trillion as of June 2024. Corporate credit became the segment with the highest growth as of June 2024, up 19.9 percent yoy reached IDR 388.6 trillion.

Commercial loans grew 7.9 percent yoy to IDR 127.8 trillion, and SME loans rose 12.7 percent yoy to reach IDR 114.4 trillion. The consumer credit portfolio increased 13.6 percent yoy to IDR 210.2 trillion, driven by mortgage distribution which grew 10.8 percent yoy reached IDR 126.9 trillion and KKB growth by 18.4 percent yoy to IDR 62.1 trillion.

The increase in outstanding other consumer loans (most of credit cards) was recorded at 20.2 percent yoy reaching IDR 17.8 trillion.

Then the loan at risk (LAR) ratio was recorded at 6.4 percent in the first semester of 2024, down from 9 percent a year ago. The ratio of non-performing loans (NPL) was at 2.2 percent. The ratio of NPL and LAR reserves is at an adequate level, respectively at 190.2 percent and 71.2 percent.

On the funding side, the total third party funds (DPK) rose 5 percent yoy to reach Rp1,125 trillion. Giro funds and savings (CASA) contributed 82 percent more than the total DPK, growing 5.8 percent to Rp915 trillion.