BNI's Net Profit Soared Threefold to Rp 10.9 Trillion in 2021

PT Bank Negara Indonesia (Persero) Tbk, or Bank BNI, reported a net profit attributable to the parent company of Rp 10.9 trillion for the full year 2021. This represents a more than threefold increase, or 232.23%, compared to Rp 3.28 trillion in the previous year.

Net profit per share for the issuer, traded on the Indonesia Stock Exchange under the code BBNI, also surged to Rp 585 per share last year, compared to Rp 176 per share in the previous year.

Bank BNI's interest income decreased by only 10.94% to Rp 50.03 trillion in 2021, compared to Rp 56.17 trillion in the previous year. Meanwhile, interest expense shrank by 38.07% to Rp 11.78 trillion last year, compared to Rp 19.02 trillion in the previous year.

The larger decrease in interest expense compared to interest income resulted in a 2.95% growth in BBNI's net interest income to Rp 38.25 trillion last year, compared to Rp 37.15 trillion in the previous year.

Furthermore, operating expenses decreased by 19.51% to Rp 26.88 trillion, compared to Rp 33.39 trillion in the previous year. This contributed to the increase in profit for the state-owned bank.

The bank's equity, 60% of which is owned by the Indonesian government, grew by 12.55% to Rp 121.48 trillion last year, compared to the previous year. Similarly, the bank's liabilities increased by 7.65% to Rp 843.36 trillion last year. As a result, Bank BNI's assets grew by 8.25% to Rp 964.84 trillion at the end of 2021.

Bank BNI's gross Non-Performing Loan (NPL) ratio decreased to 3.7% at the end of 2021, compared to 4.25% in the previous year. Meanwhile, the minimum capital adequacy ratio (CAR) increased to 19.74% at the end of 2021, compared to 16.78% in the previous year.