JAKARTA. PT Bank Permata Tbk (BNLI) recorded net profit of IDR 807.3 billion in the first quarter (Q1) of 2024, up 6.8% year-on-year (yoy) or from the same quarter last year.

BNLI’s net profit surge in Q1 2024 is in line with the credit growth, reaching 13.6% yoy. The total credit channelled by the company in this period was recorded at IDR 147.8 trillion. Credit growth in Q1 2024 was supported by corporate segment that increased 24.6% yoy.

BNLI’s credit growth in Q1 2024 went hand in hand with the quality of credits. In Q1 2024, gross non-performing loan (NPL) ratio went up to 2.7%, while loan-at-risk ratio was sported at 8.2%. In the same period last year, gross NPL and LAR were at 3.2% and 11%, respectively.

Meliza M. Rusli, President Director of BNLI, mentioned that the achievement this year resulted from the implementation of sustainable strategy business, whilst still prioritising customer-centricity. “Aside from those, collaboration and cooperation are essential factors in our effort to realise our ambition to be the best choice and the most profitable bank amongst its peers, by prioritising growth based on prudence,” she explained in the official statement.

Throughout Q1 2024, total third-party funds collected by BNLI were reported at IDR 178.8 trillion. The composition of current account saving account (CASA) of the company in this period also rose 69 bps to 57.7%.

BNLI’s total assets as of March 31, 2024, were recorded at IDR 252.8 trillion. With the discipline of balance sheet optimalisation, its loan-to-deposit (LDR) ratio also grew to 82% in March 2024 from 67.6% in March 2023. (KR/ZH)