Earning Interest Income Of IDR 258.94 Billion, This Bank Owned By Conglomerate Hary Tanoesoedibjo Books Profit Of IDR 8.21 Billion In The First Quarter Of 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Bank MNC Internasional Tbk (BABP) posted a net profit for the year of IDR 8.21 billion in the first quarter of 2022. The bank's profit belonging to the conglomerate Hary Tanoesoedibjo rose 170 percent year-on-year (yoy) compared to the first quarter of 2021, which amounted to IDR 3.04 billion.

In the company's financial publication, quoted on Wednesday, May 25, Bank MNC's profit was supported by an increase in interest income of 12 percent yoy from IDR 230.74 billion to IDR 258.94 billion in March 2022.

Meanwhile, Bank MNC's interest expense shrank 24 percent yoy, from IDR 140.83 billion to IDR 106.98 billion in the first quarter of 2022. As a result, Bank MNC's net interest income grew 69 percent yoy to IDR 151.96 billion from IDR 89.91 billion.

Furthermore, Bank MNC noted that loans also grew by 24 percent yoy. Loans extended from IDR 7.14 trillion as of March 2021 to IDR 8.87 trillion in the same position in 2022.

In addition to net profit, total assets owned by BABP also recorded an increase of 19 percent yoy, from IDR 11.13 trillion to IDR 13.22 trillion. In terms of third-party funds (DPK), Bank MNC experienced an increase of 24 percent yoy, from IDR 8.39 trillion to IDR 10.43 trillion.

The increase in TPF came from low-cost funds (current account saving accounts/CASA) which jumped 60 percent yoy, from IDR 2.05 trillion to IDR 3.28 trillion. For core capital (tier 1), Bank MNC experienced an increase of 74 percent yoy.

Tier 1 owned by Bank MNC grew from IDR 1.17 trillion to IDR 2.04 trillion as of March 2022. Then in terms of financial ratios, Bank MNC's NPL ratio was recorded to have fallen at the level of 4.77 percent (gross) and 3.18 percent (net) at the position of March 31, 2022.

Meanwhile, return on assets (ROA) and return on equity (ROE) were respectively 0.32 percent and 1.61 percent. The net interest margin (NIM) and operating expenses to operating income (BOPO) were 5.05 percent and 97.21 percent respectively as of March 31, 2022.