JAKARTA. PT Bank OCBC NISP Tbk (NISP) booked net profit of IDR 1.16 trillion in the first quarter (Q1) of 2024, growing 13.4% year-on-year (yoy) or from the same quarter last year.

Said growth followed the interest and sharia income of NISP, which reached IDR 2.6 trillion in Q1 2024. Compared to the same period last year, the net interest and sharia income jumped 6.12% yoy.

According to the recently released financial statement, total credits distributed by NISP in Q1 2024 were recorded at IDR 152.08 trillion. They consist of loans to third parties of IDR 151.84 trillion, and another loan to related parties worth IDR 252.42 billion.

The loan disbursed by NISP in Q1 2024 slightly shrank compared to the same period last year, in which the company managed to lend IDR 153.5 trillion.

Meanwhile, the third-party funds gathered by NISP arrived at IDR 179.9 trillion in Q1 2024. Third-party funds in this period consist of current account of IDR 52.35 trillion, savings of IDR 49.5 trillion, and term deposits of IDR 78.06 trillion.

In terms of asset quality, NISP maintained its gross and net non-performing loan (NPL) ratio at 1.77% and 0.63%, respectively, as of March 31, 2024. This position slightly improved compared to late 2023, in which gross and net NPL were reported at 1.64% and 0.58%. (KR/ZH)