JAKARTA – PT Bank CIMB Niaga Tbk (BNGA) reported a 0.64% year-on-year (yoy) decline in consolidated net interest income for 2024, down to IDR 13.27 trillion. The bank-only net interest income fell even further, dropping 2.81% yoy to IDR 12.14 trillion.

This decline occurred despite the bank’s consolidated loan disbursement growing 6.06% yoy to IDR 167.71 trillion, while bank-only loans increased by 4.52% to IDR 158.41 trillion.

According to Bank CIMB Niaga’s Full Year 2024 Financial Report released on Thursday (20/2), consolidated gross interest income rose by 8.61% yoy to IDR 24.23 trillion, while bank-only gross interest income grew by 7.15% yoy to IDR 22.69 trillion.

However, both consolidated and bank-only interest expenses soared by double digits, over 20%, which weighed on the bank’s net income.

Fortunately, consolidated non-operational profit skyrocketed 13-fold, from IDR 27.38 billion in 2023 to IDR 365.81 billion by the end of December 2024. This resulted in a 5.30% yoy growth in net profit, reaching IDR 6.90 trillion.

Similarly, the bank-only non-operational profit surged 12-fold in 2024, rising from IDR 30.45 billion to IDR 369.77 billion, helping bank-only net profit increase by 5.79% yoy to IDR 6.52 trillion for the year. (ZH)