JAKARTA – PT Bank Danamon Tbk (BDMN) reported a net profit of IDR 3.18 trillion in 2024, a 9.1% year-on-year (yoy) decline from IDR 3.55 trillion in the previous year.

This decrease occurred despite BDMN’s net interest income rising by 2.5% yoy to IDR 15.6 trillion in 2024. Other operating income also grew by 8.7% yoy, reaching IDR 4.63 trillion.

However, with a surge in operational expenses, BDMN’s net operating income for 2024 amounted to only IDR 4.24 trillion, down by 11.2% yoy from IDR 4.78 trillion in 2023.

Daisuke Ejima, President Director of BDMN, acknowledged that the company’s performance in 2024 reflected a fairly balanced strategy of business growth and efficiency.

“We have managed to secure significant profits while continuing to operate the business prudently, with a focus on efficiency. We have also maintained asset quality amid a dynamic market environment,” said Daisuke during a press conference on Tuesday (18/2).

Although profitability slowed, BDMN recorded a 9% yoy growth in Third Party Funds (DPK), reaching IDR 153.2 trillion in 2024. This growth was accompanied by a stable credit quality, with the gross Non-Performing Loan (NPL) ratio standing at only 1.9% as of December 2024.

“This achievement demonstrates BDMN’s efforts in managing credit risk effectively, and strengthening the bank’s position in facing potential risks in the future,” said Muljono Tjandra, BDMN’s Finance Director, at the same event. (DK/KR/ZH)