PT Bank Central Asia Tbk (BBCA) Q2 2024 earnings summary

Executive summary

• Achieved 15.5% YoY loan growth and 11.1% YoY net profit increase in 1H24, with strong performance across all loan segments and robust digital transaction growth.

• Net income for the six months ended 30 June 2024 reached Rp 26.88 trillion, up from Rp 24.20 trillion in the same period last year.

• Maintained industry-leading CASA ratio and continued to outperform industry in SME, mortgage, and auto loans.

• Advanced ESG initiatives, growing sustainable financing by 9.3% YoY and expanding green and social financing portfolios.

• The bank maintained strong capital adequacy and liquidity positions, supporting ongoing business expansion.

Financial highlights

• Total assets reached Rp 1,425.4 tn (+5.1% YoY), loans Rp 850 tn (+15.5% YoY), and third-party funds Rp 1,125 tn (+5.0% YoY) as of June 2024.

• Operating income rose 8.9% YoY to Rp 52.4 tn; net interest income up 7.9% YoY; non-interest income up 12.1% YoY.

• Net interest and sharia income rose to Rp 39.90 tn, a 8.1% increase YoY.

• Pre-provision operating profit grew 11.2% YoY; net profit after tax reached Rp 26.9 tn (+11.1% YoY).

• Basic and diluted EPS for the period was Rp 218, compared to Rp 196 in the prior year.

Outlook and guidance

• Expect continued positive loan growth, supported by resilient demand in corporate, SME, and consumer segments.

• Anticipate stable macroeconomic conditions with controlled inflation and a positive trade balance, though global economic slowdown may impact exports.

• The bank continues to monitor post-pandemic credit quality, especially for restructured loans, and maintains prudent lending standards.

• Capital and liquidity remain robust, supporting future growth and resilience against market uncertainties.