Neo Commerce Bank Earns IDR 4.06 Billion Net Profit To The Third Quarter Of 2024

JAKARTA - PT Bank Neo Commerce Tbk (BNC) achieved a profit of IDR 4.06 billion at the end of the third quarter of 2024.

"This achievement is mainly the result of the bank's ability to reduce operating expenses," said BNC President Director Eri Budiono on the Company's Annual Public Expose agenda, quoted in Jakarta, Friday.

In addition, NBC also increased lending to the corporate segment of IDR 2.31 trillion in September 2024, an increase of 88.01 percent from IDR 1.23 trillion in September 2023.

It is said that it implements banking operational services efficiently, including through optimizing digital banking transaction services and implementing digitalization in business processes. This is reflected in the Ratio of Operational Burden on Operational Revenue (BOPO) of BNC which continues to decline, to 99.88 percent in the third quarter of 2024, down from 116.91 percent in the third quarter of 2023.

Regarding total credit disbursement, BNC distributed loans amounting to Rp9.26 trillion September 2024, corrected 15.54 percent from the position in September 2023 which amounted to Rp10.97 trillion. Then, Nett Bank's Non Performing Loan (NPL) until the end of September 2024 was recorded at 0.99 percent and NPL Gross 3.72 percent.

The increase also occurred in lending to corporate customers and direct lending to customers through Neo Borrowing products located in the neobank application, which was 152.32 percent from January-September 2024. This increase was from around Rp. 86 billion in the same period in the previous year, to Rp. 217 billion.

BNC also recorded a Capital Adequacy Ratio (CAR) growth of 7.83 percent year to date to 34.18 percent in the position in September 2024 from the previous 26.35 percent in the position in September 2023.

As for the Third Party Fund (BPK) acquisition of Rp. 14.14 trillion, there was a correction of 7.59 percent from Rp. 15.30 trillion in the same period the previous year.

During 2024, Neo Commerce Bank continues to strive to meet the needs of our customers, both personal and institutional, where we also launch several new initiatives, such as focusing on fee-based income, (for example) wealth management. Then, we entered the corporate and commercial segments, which can be seen from the anatomy of our lending slightly shifted, where the commercial has started to become one of the goals of our company services," said BNC Business Director Aditya Wahyu Windarwo.