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BNI's profit drops 21.2% in Q3
Bank Negara Indonesia
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Bank Negara Indonesia. (kompas.com) (kompas.com)
Bank Negara Indonesia. (kompas.com)
State-owned lender PT Bank Negara Indonesia (BNI) recorded a drop in net profit of Rp 6 trillion (US$448 million) in September, 21.2 percent lower year-on-year, with last September bringing in Rp 7.61 trillion.
In September, the bank's disbursed loans reached Rp 307.1 trillion, climbing 14.6 percent year-on-year from Rp 267.9 trillion last September. The growth in loans was spread evenly across business (corporate) and consumer loans.
BNI CEO Achmad Baiquni said the management was focused on strengthening fundamental aspects of BNI's finances amid a volatile economy. Therefore, BNI allotted a higher loan-loss provision, with a coverage ratio of 138.8 percent, in the first nine months of 2015.
"In quarter three 2015, provisions reached Rp 6.4 trillion, soaring 93.6 percent compared to provisions in the same period of 2014, which amounted to Rp 3.31 trillion on a year-on-year basis," he said on Thursday as quoted by kompas.com.
Nevertheless, the capital adequacy ratio (CAR) was well preserved and even climbed from 16.2 percent in Q3, 2014, to 17.4 percent in Q3, 2015.
The state-owned lender has disbursed 27.8 percent of its loans to small and medium enterprises, 26.2 percent to big corporations, 17.9 percent to consumers, and 17.7 percent to state-owned enterprises. The remaining 10.6 percent was channeled through its subsidiaries and branches abroad.
In terms of liability, BNI recorded Rp 349.44 trillion in third-party funds, up 13.3 percent year-on-year, mainly from savings and deposits. The bank's CASA, or current account savings account, stayed at above 60 percent. (ags)
