Indonesia's Top 4 Big Banks' Profits in Semester I 2024: Who's the Biggest?

Four large-capitalized Indonesian banks have released their first-half 2024 financial reports.

These four bank issuers include PT Bank Rakyat Indonesia Tbk, BRI (BBRI); PT Bank Negara Indonesia, BNI (BBNI); PT Bank Central Asia Tbk, BCA (BBCA); and PT Bank Mandiri Tbk (BMRI).

Of these four banks, which one had the highest net profit?

Based on data compiled by *Databoks* and *Katadata.co.id*, BRI was the issuer with the largest profit in the first half of 2024, with a value of Rp29.7 trillion.

The state-owned bank's net profit only increased by 0.95% year-on-year (yoy) from Rp29.42 trillion in the first half of 2023.

Nevertheless, BRI's interest and sharia income increased significantly by 15.25% (yoy), from Rp85.59 trillion in the first half of 2023 to Rp98.64 trillion in the first half of 2024.

Second is BCA, which recorded a net profit of Rp26.87 trillion in the first half of 2024. According to the company's financial report, this figure grew by 11.06% (yoy) from Rp24.2 trillion in the first half of 2023.

Net interest and sharia income was recorded at Rp39.89 trillion in the first half of 2024, an increase of 8.11% (yoy) from Rp36.9 trillion in June 2023.

Citing *Katadata.co.id*, this growth is in line with the increase in BCA's credit disbursement by 15.5% year-on-year to Rp850 trillion.

Third is Bank Mandiri with a net profit of Rp26.55 trillion in the first half of 2024, according to the report published by the Indonesia Stock Exchange (BEI).

This figure increased by 5.22% from the previous year's Rp25.23 trillion in the first half of 2023. Meanwhile, the net interest and sharia income of the issuer with the code BMRI was Rp49.08 trillion in the first half of 2024. This income increased by 3.75% (yoy) from the previous Rp47.3 trillion.

In addition to increased income, another factor contributing to the increase in the state-owned bank's profit is a decrease in provisioning costs by 8.4% to Rp6.91 trillion in the first half of 2024 from Rp7.55 trillion previously.

Lastly is BNI with a score of Rp10.69 trillion in the first half of 2024. Net profit increased by 3.78% (yoy) from Rp10.3 trillion in the first half of 2023.

The net interest income of the issuer with the code BBNI reached Rp19.07 trillion in the first half of 2024. However, this figure decreased by 7.42% (yoy) from Rp20.6 trillion previously.

(See also: [10 SOEs Contributing the Largest Dividends in 2023](https://databoks.katadata.co.id/datapublish/2024/06/28/10-bumn-penyumbang-dividen-terbesar-pada-2023))