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Bank Negara Indonesia posts 25.1% YOY increase in FY'16 net profit

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Bank Negara Indonesia posts 25.1% YOY increase in FY'16 net profit

PT Bank Negara Indonesia (Persero) Tbk saw a 25.1% year-over-year increase in net income for the full year ended Dec. 31, 2016, driven by strong net interest income.

Net income for the full year rose to 11.339 trillion rupiah, or 610 rupiah per share, from 9.067 trillion rupiah, or 487 rupiah per share.

Net interest income rose 17.4% year over year to 29.995 trillion rupiah from 25.560 trillion rupiah. Noninterest income also increased to 8.585 trillion rupiah from 6.975 trillion rupiah.

The bank's net interest margin in 2016 came in at 6.2%, down from 6.4% in 2015.

The bank's gross nonperforming loan ratio at the end of 2016 stood at 3.0%, up from 2.7% in the prior-year period, while the net NPL ratio fell to 0.4% from 0.9%.

Bank Negara Indonesia reported a total capital adequacy ratio of 19.4% as of Dec. 31, 2016, down from 19.5% on Dec. 31, 2015.

As of Jan. 26, US$1 was equivalent to 13,392 Indonesian rupiah.