Jakarta, CNBC Indonesia – PT Bank MNC Internasional Tbk (BABP), a subsidiary of PT MNC Kapital Indonesia Tbk (BCAP) in the third quarter of 2022 recorded net profit growth of Rp 57.51 billion, a jump of 897.17% compared to same period of the previous year, which was Rp. 5.77 billion on an annual basis (year on year).
The increase in profit was determined by an increase in interest income and a decrease in interest expense. Interest income up to the third quarter of 2022 increased by 16.43%, from Rp 713.00 billion to Rp 830.13 billion year on year.
Meanwhile, interest expense fell by 21.16 percent, from Rp 420.36 billion to Rp 331.42 billion in the third quarter of this year. The combination of these two causes the interest margin up to the third quarter of 2022 to increase by 70.42%, from Rp 292.64 billion to Rp 498.71 billion.
Loans disbursed by MNC Bank up to the third quarter of 2022 reached Rp 10.02 trillion, up 22.89% year on year. In addition, third-party fundraising (DPK) also grew by 8.09% from Rp 11.19 trillion to Rp 12.09 trillion through the third quarter of 2022.
The growth of total deposits is in line with the growth of low-cost / CASA funds (current and savings accounts) which increased by 22.36%, from Rp 2.84 trillion to Rp 3.47 trillion until the third quarter of the year. 2022.
Meanwhile, savings have increased reaching 38.43% yoy, from Rp 1.58 trillion to Rp 2.19 trillion through the third quarter of 2022. The things mentioned above show the success of MNC Bank’s strategy to continue. to improve the composition of low-cost funds, through programs and products of public interest. CASA’s composition improved from 25.36% to 28.71% in the third quarter of this year.
“MNC Bank continues to guarantee quality loans by prioritizing prudential banking principles and continues to develop products and programs that attract low-cost funds,” said Rita Montagna, President and Director of MNC Bank, in an information disclosure to the Indonesia Stock Exchange, Wednesday (9/11/2022).
In terms of financial ratios, the company managed to reduce the number of gross Non-Performing Loans (NPLs) from 5.06% to 3.73% through the third quarter of 2022 year-over-year. Net NPLs declined from 3.44% to 2.44% through the third quarter of 2022 year-over-year. Meanwhile, MNC Bank’s net interest margin (NIM) grew significantly in the period ending September 2022, from 3.61% to 5.15% yoy.
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