Bank Danamon Earns IDR 1.5 Trillion Profit In Semester I 2024

Illustration (Photo: Doc Antara)

JAKARTA - PT Bank Danamon Indonesia Tbk (BDMN) pocketed a net profit of IDR 1.5 trillion during the first half of 2024.

This figure slightly decreased when compared to the same period the previous year which was recorded at Rp1.57 trillion.

From the other hand, total credit including trade finance increased by 14 percent yoy to Rp183.9 trillion.

In line with credit growth, Third Party Funds (DPK) increased by 15 percent yoy to Rp146.1 trillion supported by granular funding growth of 10 percent in the first half of 2024.

Credit growth is also accompanied by maintained asset quality.

This is reflected in the Non-Performing Loan (NPL) coverage ratio which increased to 263.2 percent from 259.9 percent last year and the Gross NPL ratio improved 10 bps to 2.2 percent.

In terms of retability, Danamon recorded an increase in operating income to Rp9.4 trillion, which was supported by growth in net interest income and commission income.

Danamon also posted a Pre-Provision Operating Profit (PPOP) of IDR 4.3 trillion supported by an increase in operating income while still prioritizing sustainable investment for the development of business foundations. This achievement contributed to Net After Tax Profit (NPAT) of IDR 1.5 trillion.