JAKARTA – PT Bank KB Bukopin Tbk (BBKP) posted a net loss throughout 2024, increasing by 2.07% year-on-year (yoy) to IDR 6.15 trillion, despite an increase in revenue.

"This loss is primarily due to non-recurring expenses that were necessary to prepare for profitability in 2025," management explained in its official statement.

According to a public disclosure, BBKP’s net interest income (NII) reached IDR 909 billion in 2024, a rise of 49.20%. "This NII growth was supported by an increase in interest income of 12.20%, offset by a controlled rise in interest expenses of 6.17%," added management.

On the other hand, BBKP's total loans decreased by 6.17% to IDR 44.6 trillion. This was aligned with the bank’s strategy to manage credit quality, as indicated by a reduction in loan-at-risk (LAR) to 23.10% from 39.77%.

Additionally, the gross non-performing loan (NPL) ratio fell to 8.74% from 9.70%, while the net NPL ratio decreased slightly from 4.95% to 4.38%.

The bank’s liquidity improved with a 29.92% growth in CASA (Current Account Savings Account), which contributed to a 2.85% growth in third-party funds.

BBKP is known to currently undergo huge transformation process since becoming a part of South Korean biggest financial institution, KB Financial Group (KBFG). 

"With these positive achievements and strategic initiatives, we are optimistic that KB Bank will record a net profit in 2025," said Tom (Woo Yeul) Lee, President Director of KB Bank, in an official statement quoted on Monday (17/3). (EF/ZH)