BNI's Profit Soars 74 Percent To Rp7.7 Trillion, This Is The Cause According To President Director Royke Tumilaar

BNI President Director Royke Tumilaar. (Photo: Doc. Antara)

JAKARTA - PT Bank Negara Indonesia (Persero) Tbk (BNI) managed to record a net profit growth of 73.9 percent year on year (yoy) from Rp4.3 trillion at the end of September 2020 to Rp7.7 trillion in the third quarter of 2021.

"This profit growth mainly came from the growth of fee-based income and net interest income, respectively by 16.8 percent and 17.6 percent yoy," said BNI President Director Royke Tumilaar at a virtual presentation, Monday, October 25.

Royke said that this achievement was also the result of BNI's digital transformation, one of which was aimed at strengthening capabilities in transactional banking.

On the other hand, BNI recorded a very healthy low-cost fund raising performance, one of the factors supporting solid credit. Where the composition of low-cost funds or CASA reached 69.7 percent of the total Third Party Funds (DPK) or the highest in the last 10 years.

CASA grew 8 percent yoy, from IDR 431.3 trillion in the third quarter of 2020, to IDR 465.7 trillion in the third quarter of this year. CASA dominates DPK which also grew 1.4 percent yoy from Rp659.52 trillion to Rp668.55 trillion at the end of September 2021.

The CASA growth resulted in savings in interest expense by 10 basis points from the previous quarter. Operating income before reserves (PPOP) grew by 21.0 percent yoy, which was achieved by the existence of a strong low-cost funding structure, which contributed to the recovery of the Net Interest Margin (NIM) of 50 basis points yoy.

Net interest income (NII) increased by 17.6 percent yoy, from IDR 24.39 trillion in the third quarter of 2020 to IDR 28.70 trillion in the third quarter of 2021. This NII growth is the effect of BNI's credit distribution, which is still growing 3.7 percent yoy to IDR 570 .64 trillion in the third quarter of 2021 from the same period in 2020 which was Rp. 550.07 trillion.

BNI also recorded strong non-interest income growth of 14.2 percent yoy, from IDR 8.94 trillion in the third quarter of 2020 to IDR 10.21 trillion in the third quarter of 2021.