Hana Bank Prints Solid Performance, Net Profit Grows Double Digit

PT Bank KEB Hana Indonesia (Hana Bank) closed in 2024 with solid financial performance. Net profit grew by 14.61 percent year-on-year (yoy) to IDR 519.43 billion, making Hana Bank a South Korean bank operating in Indonesia with the highest net profit in 2024.

This achievement reflects the success of the company's strategy in encouraging product and service innovation, as well as strengthening digital banking services in a sustainable manner.

This net profit growth was mainly driven by net interest income which increased 4.07 percent yoy to IDR 1.79 trillion, as well as fee-based income, especially from the wealth management business. On the other hand, Hana Bank has also managed to manage operational expenses efficiently, so as to maintain profit growth.

"The achievement of net interest income cannot be separated from significant credit growth from all segments, both corporations, Small and Medium Enterprises (SMEs), and consumers, with the largest contribution coming from the corporate segment," said Hana Bank's Business Director, Geoffry Nugraha, and the nature of his written statement, Thursday, May 1.

Throughout 2024, Hana Bank's total credit disbursement reached IDR 37.12 trillion, an increase of 8.16 percent yoy. The quality of credit has also improved, as reflected in the non-performing loan (NPL) of 0.76 percent, lower than the NPL in 2023 of 0.86 percent.

Meanwhile, third party funds (DPK) reached IDR 26.93 trillion, growing 2.67 percent yoy. This increase was also supported by Hana Bank's efforts to collect DPK through digital banking services, LINE Bank by Hana Bank (LINE Bank) in line with the digitalization trend.

In line with the vision of Being a partner for life, by providing integrated financial solutions for customers and creating values for stakeholders', Hana Bank presents new products and services for customers during 2024, including sharia-based custodian services, becoming Bank Indonesia's Appointed Cross Currency Dealer (ACCD) to facilitate the operation of the Local Currency Transaction (LCT) Rupiah-Won, and the registration of mutual fund Investor Identification (SID) Single Investors through MyHana Mobile Banking.

Hana Bank also continues to strengthen the development of digital banking services through LINE Bank. By the end of 2024, LINE Bank had reached 1.2 million customers, a significant increase of 44 percent from the previous year.

LINE Bank has launched various initiatives to provide a different digital bank experience, such as the No Agunan Credit (KTA) and Quick Credit features, the issuance of contactless debit cards, EZCard to facilitate customer transportation and transactions in South Korea, as well as some time ago with Hana Bank launching a Goal Savings futures savings product.