01 Aug 2022

Solid Performance, MNC Bank's (BABP) Profits Soar 629.21%

Jakarta, 1 August 2022  PT Bank MNC Internasional Tbk (BABP or MNC Bank or the Company), a subsidiary of PT MNC Kapital Indonesia Tbk (BCAP) under the management of MNC Group, recorded a positive performance in mid-2022. MNC Bank recorded a net profit of Rp34.88 billion in Q2-2022, growing 629.21% compared to Q2-2021 of Rp4.78 billion.

Continuing the positive performance from Q1-2022, the significant growth in MNC Bank's net profit for the second quarter was driven by an increase in interest income which grew 15.28%, from Rp465.86 billion in Q2-2021 to Rp537.02 billion in Q2-2022. This increase was due to a growth in loans disbursed. Loans disbursed grew from Rp7.70 trillion to Rp9.68 trillion or 25.74% in Q2-2022. On the other hand, interest expenses fell quite drastically, down by 23.00%, from Rp273.33 billion to Rp210.47 billion in Q2-2022.

MNC Bank is continuing to improve the composition of its Third-Party Funds. In the Q2-2022, the composition of CASA (current accounts and savings) improved from 24.45% to 25.03%. MNC Bank's CASA in Q2-2022 recorded Rp2.99 trillion, an increase of 23.43% compared to Q2-2021, which was Rp2.43 trillion. This growth was higher than the growth in time deposits which reached 19.65% and driven by the success of MNC Bank's programs and products, such as Tabungan Dahsyat and the digital service MotionBanking whose features and services have grown rapidly.

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