JAKARTA - PT Bank Mega Tbk (MEGA), owned by tycoon Chairul Tanjung, recorded a net profit of IDR 2.63 trillion in 2024, a decline of 25.04% year-on-year (YoY) from IDR 3.51 trillion in 2023.

Based on MEGA's financial report, the decrease in profit aligns with a contraction in net interest income, which shrank by 7.83% to IDR 5.10 trillion in 2024. The net interest margin (NIM) of Bank Mega also declined from 5.21% in 2023 to 4.64% in 2024.

Moreover, the impairment of financial assets swelled by 10.71%, reaching IDR 215.8 billion, alongside other expenses, which increased by 4.20% to IDR 1.69 trillion.

Regarding intermediation functions, Bank Mega distributed loans amounting to IDR 64.65 trillion as of 2024, down 2.48% from IDR 66.29 trillion as of the end of 2023. Nevertheless, the company’s assets still grew by 2.17% to IDR 134.92 trillion. (DK/LM)