Jakarta, CNBC Indonesia – The season for releasing issuers’ financial statements on the Indonesia Stock Exchange (IDX) throughout the first quarter of 2022 has been started by big banks. In general, there has been an increase in both net interest income and net income for each of the four major Indonesian banks.
Below this CNBC Indonesia Research Team summarize head-to-head or strong fight the performance of the four state-owned banks in the first 3 months of this year, mainly using the financial performance of individual banks (bank only).
The four are PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), PT Bank Negara Indonesia Tbk (BBNI), and PT Bank Central Asia Tbk (BBCA). The first three names are state-owned banks, while the last names are banks belonging to the Djarum Group.
Performance of 4 Big RI Banks (individually) during the first quarter of 2022
|
Bank |
Net Interest Income Q1-2022 |
Net Revenue yoy (%) |
Net Profit Q1-2022 |
Net Profit yoy (%) |
|
Bank Rakyat Indonesia (BBRI) |
Rp 25.09 T |
10.07 |
Rp 10.90 T |
63.37 |
|
Bank Mandiri (BMRI) |
Rp 15.18 T |
17.31 |
Rp 9.05 T |
79.47 |
|
Bank Central Asia (BBCA) |
Rp 13.71 T |
3.44 |
Rp 7.59 T |
15.37 |
|
Bank Negara Indonesia (BBNI) |
RP 9.58 T |
2.35 |
Rp 4.30 T |
84.04 |
Source: IDX | *Bank only financial statements (individual) as of March 31, 2021
If you look at the data above, BBRI has the largest total net interest income (bank only) in the first quarter of 2022 compared to its peers, which is Rp. 25.09 trillion.
In terms of total bank only net profit, BBRI also won with a value of IDR 10.90 trillion as of March 31, 2022.
Meanwhile, in terms of net interest income growth, BMRI ranks first with an annual percentage of 17.31% (year on year / yoy) to Rp 15.18 trillion.
Then, in terms of net profit growth, BBNI became the highest at 84.04% yoy to Rp 4.30 trillion in the first quarter of 2022.
To see a more detailed picture, below is an explanation of the performance of each of the four banks, especially on a consolidated basis.
Bank Rakyat Indonesia (BBRI)
BBRI posted consolidated interest income of Rp 36.71 trillion, up 5.89% compared to the same period the previous year, Rp 34.69 trillion.
In line with this income, the net interest income recorded by BBRI was Rp 30.68 trillion. This figure jumps 11.23% on an annual basis from the previous Rp 27.59 trillion
In line with these acquisitions, BBRI’s consolidated net profit was Rp 12.17 trillion. Interestingly, this notch flew 78.24% on an annual basis from the previous Rp 6.83 trillion.
BBRI’s consolidated performance follows the merger of PT Pegadaian and PT Permodalan Nasional Madani (PNM). The merger was officially carried out on September 13 last year.
BRI’s Consolidated Financial Statements have also adopted the pooling of interest method in accordance with Statement of Financial Accounting Standards (“PSAK”) No. 38 (Revised 2012) concerning “Business Combinations of Entities Under Common Control”.
With the completion of the merger, BBRI recorded a profit before pro forma net profit from acquisition transactions with entities under common control of Rp 12.22 trillion. This gain jumped 57.64% compared to the same period the previous year, Rp 7.75 trillion.
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