JAKARTA - PT Bank Mega Tbk (MEGA) recorded a loan disbursement of IDR 64.6 trillion in 2024, down 2.5% year-on-year (yoy) from IDR 66.3 trillion in 2023.

This decline in loans then affected the company's top line performance. Based on its 2024 Financial Report, MEGA recorded revenue of IDR 5.1 trillion, corrected by 7.8% yoy from IDR 5.5 trillion.

Shrinking operating income (-20.66% yoy) and swelling operating expenses (+5.6% yoy) worsened the company's performance in 2024, making its net profit before tax plummet 25% yoy to IDR 3.3 trillion.

As of the end of December 2024, MEGA's net profit only reached IDR 2.6 trillion, a 25% yoy freefall from IDR 3.5 trillion earned in 2023.

In terms of financial position, Bank Mega's assets only rose slightly by 2.2% yoy to IDR 134.9 trillion at the end of December 2024, making total loans disbursed now equivalent to 47.92% of assets (loan-to-asset ratio). (ZH/LM)