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Bank Negara Indonesia posts 4.7% YOY rise in 9-month net income

PT Bank Negara Indonesia (Persero) Tbk posted a 4.7% year-over year rise in net income for the nine months ended Sept. 30.

The company on Oct. 23 reported a consolidated nine-month net income of 11.973 trillion Indonesian rupiah compared to 11.438 trillion rupiah in the prior-year period. Net income per share rose to 642 rupiah from 613 rupiah.

Net interest income rose to 26.873 trillion rupiah from 26.010 trillion rupiah. Net interest margin for the period fell to 4.9% from 5.3%.

Operating income climbed to 37.744 trillion rupiah from 35.853 trillion rupiah.

Provisioning for the period came to 5.430 trillion rupiah, up year over year from 5.340 trillion rupiah.

The bank's consolidated gross nonperforming loan ratio clocked in at 1.8% as of Sept. 30, down from 2.0% at Sept. 30, 2018. Its consolidated net NPA ratio for the period came to 0.8%, renaming flat compared to the prior-year period.

As of Sept. 30, the lender's consolidated total capital adequacy ratio was 19.3%, up from 17.8% at Sept. 30, 2018. Over the same period, its consolidated Tier 1 ratio rose to 18.2% from 16.7%.

As of Oct. 23, US$1 was equivalent to 14,012 Indonesian rupiah.