BNI's Net Profit Plunges 41.6% in First Half of 2020

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Andrea Lidwina 19/08/2020 10:30 WIB

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BNI reported a net profit of Rp 4.45 trillion in the first half of 2020. However, this figure plummeted by 41.6% compared to the same period the previous year.

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BNI's Net Profit Plunges 41.6% in First Half of 2020

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BNI's Net Profit in the First Semester

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PT Bank Negara Indonesia Tbk (BBNI) reported a net profit of Rp 4.45 trillion in the first half of 2020. However, this figure plummeted by 41.6% compared to the same period in the previous year.

The decrease in net profit was due to an increase in the allowance for credit losses (ACL), which rose from Rp 3.96 trillion in the first half of 2019 to Rp 7.46 trillion in January-June 2020. The company anticipated a rise in non-performing loans due to the Covid-19 pandemic.

This marks BNI's first decline in net profit in the last five years. The highest profit growth was recorded at 46.7% in 2017.

Editor : Safrezi Fitra

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."