Bank Permata Records Net Profit Of IDR 3.6 Trillion Throughout 2024

JAKARTA - PT Bank Permata Tbk (BNLI) noted that the company's performance experienced solid growth with a net profit of IDR 3.6 trillion in 2024 or grew 38 percent compared to December 2023 worth IDR 2.6 trillion.

President Director of Permata Bank Meliza M. Rusli said that this positive achievement could not be separated from strategies in strengthening business fundamentals, digital innovation, and increasing operational efficiency.

Meliza said that as a local bank with a regional vision and global network, we want to continue to strengthen the role of banks in supporting economic growth and added value for customers and stakeholders.

"Through the spirit of Growing Together, Permata Bank with strong synergy with Bangkok Bank is committed to empowering customers, strengthening partnerships, and creating positive impacts on the domestic and international markets," he said at the Public Expose, Friday, March 7.

Director of Finance and Sharia Business Unit of Bank Rudy Basyir Ahmad explained that Operational Revenue before Provision (PPOP) grew by 4 percent with improving credit quality.

"Banks focus on prioritizing the principle of prudence in managing credit risk, which is reflected in the improving quality of credit," he said.

Rudy conveyed that this achievement was also supported by the management of a sustainable and supported business strategy by the implementation of digitalization in bank operations so that banks could provide leading services for customers.

In addition, the optimization of the balance sheet and business efficiency is reflected in the Ratio Loan to Deposit (LDR) which increased to 83 percent compared to 2023 of 75 percent.

Meanwhile, total assets grew 0.6 percent to IDR 259 trillion, with total customer deposits reaching IDR 185 trillion and CASA ratio at 55 percent.

In addition, operational efficiency continues to be increased, with the Ratio Cost to Income (CIR) dropping to 50 percent from 52 percent in 2023, driven by disciplined cost management and more digitalization adoption.

Rudy conveyed that credit distribution grew 9 percent (YoY) to Rp155 trillion, where the corporate segment grew up 12 percent (YoY) to Rp89 trillion, while the commercial and consumer segments grew by 6 percent and 4 percent (YoY), respectively.

On the other hand, asset quality is getting better, reflected in the Gross NPL and Loan at Risk (LAR) ratios, which fell at the level of 2.1 percent and 7.9 percent, compared to 2.9 percent and 8.7 percent in the previous period.

Furthermore, Rudy said that the company continues to maintain reserve needs for the potential for conservative credit risk reduction, as reflected in the NPL coverage ratio at 375 percent and LAR coverage at 97 percent.

"Bank Permata has one of the strongest capital ratios among the largest commercial banks in Indonesia, with CAR 35 percent and CET-1 26 percent by the end of 2024, providing a solid foundation for the Bank's future priority strategy," he said.