JAKARTA – PT Bank IBK Indonesia Tbk (AGRS) posted a 9.75% increase in net profit for Q3-2024 compared to the same period last year, reaching IDR 170.02 billion.

Meanwhile, net interest income grew by 15.78%, contributing to an increase in the net interest margin (NIM) from 2.76% to 3.10%.

“For the end of 2024, we predict a net profit of IDR 250 billion,” said Lee Dae Sung, Director of IBK, during the Bank IBK Indonesia Public Exposé today (10/12).

Lee also explained that the bank's capital adequacy ratio (CAR) rose from 38.55% to 41.33%.

Regarding IBK Indonesia’s free float share ratio, Lee stated that the bank has fulfilled the 7.5% requirement. This was achieved through a share transaction between Industrial Bank of Korea (IBK Korea), the controlling shareholder, and PT KGI Sekuritas Indonesia.

IBK Korea released 2.48% of its shares to the public in the transaction. As of November 29, 2024, IBK Indonesia’s shareholder composition is 91.49% held by IBK Korea, with 8.51% in public ownership. (DK/MT/ZH)