JAKARTA – Despite PT Bank Negara Indonesia (Persero) Tbk (BBNI) posting strong credit growth of 11.6% year-on-year (yoy), the state-owned bank recorded a slight decline in net interest income, down 1.9% yoy.

As of December 2024, BNI's loans reached IDR 775.9 trillion, up from IDR 695.1 trillion at the end of 2023.

According to BNI's FY 2024 financial report, gross interest income actually rose 8.3% yoy to IDR 66.6 trillion. However, interest expenses swelled quite badly (+29.25% yoy), causing net interest income to drop to IDR 40.5 trillion.

Fortunately, BNI’s non-interest income also increased, helping net profit grow modestly by 2.7% yoy to IDR 21.7 trillion by the end of Q4 2024.

It is worth noting that BNI's third-party funds (DPK) slightly decreased by 0.6% yoy from IDR 810.7 trillion to IDR 805.5 trillion by the end of December 2024, with current and savings accounts (CASA) dominating at IDR 563 trillion and time deposits at IDR 242 trillion.

In terms of stock performance, as of 10:25 AM this Friday (24/1), BBNI shares had slipped 0.43% from Thursday’s closing price of IDR 4,650. However, since the beginning of January, BBNI shares have risen 0.87% from IDR 4,590. (ZH)