SENTUL-BOGOR (eNBe Indonesia) - Bank Central Asia (BCA) booked a net profit of Rp23.19 trillion in the first nine months to September of 2021 (9M), grew 15.8% year on year (y/y), as provision fell 16.2% y/y to Rp7.65 trillion, and operating expenses declined 4.1% to Rp21.18 trillion. While operating income only rose 3.1% to Rp57.6 trillion. Net interest income increased 3.3% y/y to Rp42.15 trillion.
In the third quarter (Q3), BCA booked a net profit of Rp8.74 trillion, which grew 17.9% compared to the previous quarter (Rp7.41 trillion), as provision fell 66.5% quarter on quarter (q/q) to Rp1.1 trillion. Operating income declined 1.5% q/q to Rp19.12 trillion as net interest income declined 1.9% to Rp13.88 trillion. Pre-provision operating profit fell 2% q/q to Rp12.16 trillion.
BCA reported a net interest margin (NIM) of 5.2% in 9M this year, lower than 5.8% in 9M last year. Its capital adequacy ratio (CAR) reached 26.2%, higher than 24.7% in 9M of 2020. Gross non-performing loan (NPL) was 2.4%, supported by relaxation on restructuring policy. Credit grew 4.1% y/y to Rp605.87 trillion. Corporate loans grew 7.1% to Rp269.9 trillion, commercial & SME loans increased 1.5% to Rp185.4 trillion, and consumer loans rose 2.1% to Rp144.67 trillion.
Third-party deposits performance remained robust, with current account and savings account (CASA) rising 21.0% y/y to Rp 721.8 trillion. Time deposits rose 9.7% y/y to reach Rp201.9 trillion. Overall, third-party deposits grew by 18.3% from last year to Rp 923.73 trillion, boosting the total asset to grow by 16.5% to Rp 1,169.3 trillion as of September 2021.
BCA also increased the capital of its digital bank (Bank Digital BCA) to Rp4 trillion from the previous Rp2.7 trillion. Bank Digital BCA has managed public funds of Rp800 billion with 100,000 transactions per day. This Bank is prepared to launch the initial public offering (IPO) within 1-2 years.***