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

Executive summary

• Net profit for 1H24 reached Rp 26.9 tn (+11.1% YoY), with 15.5% YoY loan growth and strong digital transaction expansion.

• Total assets grew to Rp 1,425 tn as of June 2024, with robust performance across all loan segments.

• Maintained industry-leading CASA ratio and outperformed in SME, mortgage, and auto loans.

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

• Total equity stood at Rp 240.7 tn, slightly down from year-end 2023.

Financial highlights

• Operating income rose 8.9% YoY to Rp 52.4 tn; net interest income up 7.9% YoY to Rp 39.95 tn.

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

• Earnings per share increased to Rp 218 from Rp 196 YoY.

• Dividend paid during the period amounted to Rp 28.05 tn.

• Market cap reached Rp 1,242 tn as of July 2024, the largest in Indonesia.

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.

• Loan to deposit ratio increased to 72.7% from 65.8% YoY, indicating stronger loan growth.

• Return on equity improved to 24.8% from 24.2% YoY.