JAKARTA – PT Allo Bank Indonesia Tbk (BBHI), a digital bank under the PT Mega Corpora umbrella, reported sluggish credit disbursement in 2024, increasing by only 0.6% to IDR 7.37 trillion.

Despite this, Allo Bank's 2024 Financial Report shows that net interest income still grew by 7% year-on-year (yoy) in 2024, rising from IDR 1.04 trillion to IDR 1.12 trillion.

Additionally, other operating income saw a significant surge by the end of 2024, increasing 2.7 times or 168.72% yoy to IDR 329.39 billion.

However, other operating expenses also surged 37% yoy to IDR 734.02 billion, which weighed on the company’s bottom line performance. By the end of December 2024, net profit only managed to increase by 5.07% yoy to IDR 467.11 billion.

As of January 2025, PT Mega Corpora still holds a 60.88% stake in BBHI. Another bank under PT Mega Corpora, PT Bank Mega Tbk (MEGA), also reported unsatisfactory loan performance, with credit disbursement shrinking by 2.5% yoy, net interest income falling by 7.8% yoy, and net profit dropping by 25% yoy. (ZH)