KONTAN.CO.ID - JAKARTA. PT Bank OCBC NISP Tbk (
NISP) has reported a positive performance for the first quarter of 2024, with a consolidated net profit increase of 13.41% year-on-year (yoy) to IDR 1.17 trillion, up from IDR 1.03 trillion in the first quarter of 2023. This increase in net profit was supported by a 6.12% yoy rise in OCBC NISP's net interest income from IDR 2.45 trillion to IDR 2.60 trillion in the first quarter of 2024. As a result, OCBC NISP was able to maintain its net interest margin (NIM) ratio at 4.43% as of March 31, 2024. On the other hand, the bank's operating expenses appeared to decrease from IDR 1.14 trillion to IDR 1.12 trillion in the first quarter of 2024.
Consequently, the ratio of operating expenses to operating income (BOPO) appeared to decrease, from 69.62% to 67.87% as of March 31, 2024. OCBC NISP also recorded an improvement in the impairment of financial assets, which fell to IDR 13.38 billion in the first quarter of 2024, a drastic decrease of 57.2% yoy from IDR 31.26 billion in the same period last year. The ratio of operating expenses to operating income (BOPO) also decreased from 69.62% to 67.87% as of March 31, 2024.
In terms of intermediation function, OCBC NISP disbursed loans and financing amounting to IDR 152.1 trillion in the first quarter of 2024, up 10.94% yoy from IDR 137.09 trillion in the first quarter of 2023.
Baca Juga: Metrodata Electronics (MTDL) Revenue IDR 1.5 Trillion in the First Quarter of 2024 OCBC NISP's credit quality appeared to improve, with the gross non-performing loan (NPL) ratio recorded as decreasing from 2.43% to 1.77% as of March 31, 2024. The net NPL ratio also fell from 0.75% to 0.63% as of March 31, 2024. In terms of funding, OCBC NISP successfully raised third-party funds (DPK) amounting to IDR 179.91 trillion in the first quarter of 2024, up 6.6% yoy from IDR 168.81 trillion in the same period last year. As a result, the growth of credit and DPK has led to a 5.23% yoy increase in OCBC NISP's total assets to IDR 252.41 trillion in the first quarter of 2024, up from IDR 239.87 trillion in the same period last year.
Editor: Syamsul Azhar
