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

Executive summary

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

• Total assets reached Rp 1,434 tn as of September 30, 2024, up from Rp 1,408.1 tn at year-end 2023.

• Loans and financing increased to Rp 866.7 tn, with strong contributions from corporate, SME, and consumer segments.

• 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

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

• Pre-provision operating profit (PPOP) increased 14.6% YoY to Rp 53.2 tn.

• Total equity increased to Rp 256 tn, up 8.5% YoY.

• Cost-to-income ratio improved to 30.4% (down 2.7% YoY).

• Net cash from operating activities was Rp 74.18 tn, up from Rp 45.75 tn YoY.

Outlook and guidance

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

• Focus remains on sustainable finance, digital innovation, and maintaining strong asset quality.

• CAR remains strong at 29.3% as of September 30, 2024.

• ROE improved to 24.7% from 23.53% YoY.

• LDR increased to 75.1% from 67.41% YoY.