PT Bank Central Asia Tbk (BBCA) Q3 2024 earnings summary

Executive summary

• Net profit after tax rose 12.8% year-over-year to Rp 41.1 tn for 9M24, driven by solid operating performance and broad-based loan growth.

• Achieved strong financial performance for the nine months ended 30 September 2024, with robust growth in net income and comprehensive income year-over-year.

• Maintained solid asset quality, capital adequacy, and liquidity positions, supporting business expansion and risk management.

• Digital transaction volume reached 26 billion, up 21% YoY, with mobile banking users and transaction value continuing to expand.

• Sustainable financing portfolio increased 10.7% YoY, with notable growth in green and social financing initiatives.

Financial highlights

• Net income for the nine months ended 30 September 2024 reached Rp 41.09 trillion, up from Rp 36.44 trillion year-over-year.

• Operating income rose 10.4% YoY to Rp 80.1 tn; net interest income up 9.5% YoY to Rp 61.1 tn.

• Total assets reached Rp 1,434 tn (+3.8% YoY), with equity up 8.5% YoY to Rp 256 tn.

• CASA ratio improved to 82.2% of total funding, and third-party funds grew 3.4% YoY.

• Basic and diluted earnings per share increased to Rp 333 from Rp 295 year-over-year.

Outlook and guidance

• Management expects continued loan growth across all segments, supported by resilient economic conditions and digital banking expansion.

• Continued focus on prudent risk management and selective loan growth following the end of COVID-19 restructuring policies.

• Emphasis on digital transformation, operational efficiency, and maintaining strong capital and liquidity buffers.