JAKARTA – PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (BJBR) reported consolidated loan disbursement growth of 17% year-on-year (yoy), reaching IDR 146.4 trillion in 2024.

According to BJBR's Financial Report published on the Indonesia Stock Exchange (IDX) today (14/3), this achievement pushed gross interest income up by 11.3% to IDR 15.9 trillion.

However, interest expenses surged significantly by 28.5%, amounting to IDR 9.3 trillion, which cut net interest income by 6.2%, bringing it down to only IDR 6.6 trillion.

Furthermore, although other operating income grew by 15.7%, the increase in operating expenses by 3.5% continued to put pressure on BJBR's bottom-line performance.

As a result, net profit attributable to the parent entity by the end of December 2024 was recorded at only IDR 1.4 trillion, a 23% drop from IDR 1.8 trillion in 2023.

In terms of stock performance, as of 11:17 WIB today (14/3), BJBR’s shares also weakened by 0.65%, reaching IDR 760 per share.

Since the beginning of the year, the company’s stock has slumped by 17.84%, struggling to recover after a steep decline (-12%) on February 28, falling from IDR 790 to IDR 710. (ZH)