Positive Performance of State-Owned Banks, Net Profit Soars 78%

Based on published financial reports, state-owned banks (BUMN) in Indonesia recorded a consolidated net profit of Rp 72.37 trillion in 2021. This figure surged 78% compared to the previous year, which reached only Rp 40.66 trillion.

PT Bank Rakyat Indonesia (Persero) Tbk recorded a consolidated net profit of Rp 31.07 trillion in 2021. The profit of this issuer, with the trading code BBRI, jumped 66.53% from the previous year. Its profit was the largest among the other three Himbara banks, accounting for 42.93% of the total.

Next, PT Bank Mandiri (Persero) Tbk booked a consolidated net profit of Rp 28.03 trillion in 2021. This achievement by the state-owned bank, with the trading code BMRI, grew by 63.72% compared to the previous year.

Following that is PT Bank Negara Indonesia (Persero) Tbk, which recorded a consolidated net profit of Rp 10.9 trillion in 2021. The profit of this issuer, with the trading code BBNI, surged 232.23% from the previous year.

Similarly, PT Bank Tabungan Negara (Persero) Tbk also achieved a net profit of Rp 2.37 trillion throughout last year. The profit of this issuer, with the trading code BBTN, grew by 48.3% from the previous year.

In the first year of the Covid-19 pandemic, the profits of the four Himbara banks plummeted by more than 47%, reaching only Rp 40.66 trillion in 2020 from Rp 77.45 trillion in the previous year. The implementation of restrictions on community activities caused all business lines to stall, impacting the banking sector's performance.

Minister of State-Owned Enterprises Erick Thohir expressed his appreciation for the outstanding performance of these state-owned banks. He stated that this achievement is the result of the transformation and efficiency efforts undertaken by the Ministry of State-Owned Enterprises and all state-owned enterprises.

"Despite facing disruptions due to the pandemic, the positive performance of Himbara could still be improved. Financial performance, operational performance, and social responsibility have all increased rapidly," said Erick in a statement on Monday, February 21, 2022.