Jakarta. Bank Negara Indonesia (IDX: BBNI) recorded a net profit attributable to shareholders of Rp 21.46 trillion ($1.4 billion) in 2024, a 2.63 percent increase from Rp 20.91 trillion in 2023. The growth was supported by a robust credit expansion and operational efficiency despite a slight dip in net interest income (NII).

The state-controlled lender's NII declined 1.91 percent year-on-year (YoY) to Rp 40.48 trillion, while fee-based income rose 1.28 percent to Rp 10.25 trillion. Operating profit stood at Rp 26.61 trillion, boosted by a reduction in impairment losses to Rp 7.79 trillion from Rp 9.36 trillion.

BNI outperformed industry credit growth, with total loans disbursed climbing 11.62 percent YoY to Rp 775.87 trillion, surpassing the banking sector's average growth of 10.39 percent. Corporate loans led the growth, increasing 17.6 percent, followed by consumer loans at 14.5 percent. Subsidiaries contributed significantly, with a 79.7 percent surge in credit distribution.

“Credit growth was balanced and aligned with the national economic recovery. Our prudent approach has also strengthened asset quality,” said Novita Widya Anggraini, BNI's Finance Director, on Wednesday.

The non-performing loan (NPL) ratio improved to 2 percent, with loan-at-risk (LaR) and credit cost ratios dropping to 10.3 percent and 1.1 percent, respectively.

BNI maintained a loan-to-deposit ratio of 96 percent, supported by liquidity incentives under Bank Indonesia’s Macroprudential Liquidity Policy (KLM). Retail deposit growth enabled the bank to sustain a net interest margin (NIM) of 4.2 percent for 2024.

Subsidiaries further enhanced performance, with BNI Finance and hibank reporting credit growth of 88 percent and 76 percent YoY, respectively. “The joint financing initiatives and support for micro, small, and medium enterprises (MSMEs) will be key drivers for future growth,” Novita added.

Sustainability Initiatives

The bank ramped up its sustainability efforts, allocating Rp 190.5 trillion—or 25 percent of its total loans—to sustainable financing. Of this, Rp 73.4 trillion was directed to green financing, while Rp 117 trillion supported MSMEs.

“Our commitment to green transition is reflected in our Rp 6 trillion in sustainability-linked loans as of December 2024,” said David Pirzada, BNI’s Risk Management Director.

The bank has also initiated solid waste management programs and plans to expand its Climate Risk Stress Test coverage to 100 percent of its loan portfolio in 2025.