Bank Danamon Earns IDR 3.2 Trillion Net Profit In 2024

Bank Danamon (Photo: Antara)

PT Bank Danamon Indonesia Tbk recorded an operating profit before reserves (PPOP) of IDR 8.3 trillion in 2024 or grew 1 percent year on year (yoy). Thus, resulting in a net profit after tax (NPAT) of IDR 3.2 trillion.

Bank Danamon President Director Daisuke Ejima said that 2024 is a year full of challenges colored by uncertainty and changes such as global conflicts, changes in government administration, macroeconomic fluctuations, and so on that have an impact on the dynamics of business decisions.

"However, despite many changes and challenges, Danamon managed to maintain its growth momentum throughout 2024," said Ejima quoting Antara.

Meanwhile, consolidated operating income in 2024 was recorded at IDR 18.9 trillion, an increase higher by 4 percent compared to the previous year. Regarding the retability, Bank Danamon recorded a consolidated net interest margin (NIM) of 7.3 percent.

Bank Danamon Finance Director Muljono Tjandra detailed that total credit (loan) and consolidated finance trade as of December 31, 2024, reached IDR 189.4 trillion or grew 8 percent compared to the previous year.

Growth in terms of credit is supported by growth in all Danamon business lines, namely the entertainment banking and financial institution (EBFI), small and medium enterprises (SME) banking, consumer banking, and automotive financing through Adira Finance.

Meanwhile, the total third party funds (DPK) in 2024 grew 9 percent yoy to reach Rp153.2 trillion. Muljono said this growth in DPK supports the company's credit growth. In particular, total granular funding reached Rp93.6 trillion or grew 8 percent yoy.

Muljono said that Bank Danamon always prioritizes the principle of prudence in carrying out the intermediation function. This is shown from the quality of Bank Danamon's assets which will be well maintained in 2024.

The loan at risk ratio, which also takes into account the extension of credit restructuring related to COVID-19, is recorded to be better than the previous year which is now 10.6 percent.

The gross non-performing loan (NPL) ratio in the same period was recorded at 1.9 percent, better than the previous year. Meanwhile, the NPL or NPL coverage ratio was recorded at 287.2 percent, higher than the previous year's 265.9 percent.