BBCA’s interest income grew 7% YoY to Rp49.4 trillion in 6M25. This growth was in line with the development of Net Interest Income to Rp42.6 trillion (+6.8% YoY or 1.7% QoQ) and Non-Interest Income, which grew 10.6% YoY to Rp13.7 trillion in 6M25.

Provision expenses increased 43.4% YoY to Rp2 trillion in 6M25 in anticipation of deteriorating asset quality, especially from the consumer segment. However, BBCA was able to record net income growth of 8% YoY to Rp29 trillion in 6M25.

Third Party Funds (TPF) grew 5.7% YoY to Rp1,190 trillion in 6M25. With Current Account Saving Account (CASA) increasing 7.3% YoY to Rp982 trillion, and BBCA’s CASA ratio growing 120 bps to 83.4% in 6M25.

BBCA’s loan growth slowed to 12.9% YoY, lower than 15.5% YoY in 6M24. This growth was supported by Corporate loans, which grew 16.1% YoY, followed by Consumer loans (+7.6% YoY).

BBCA’s gross Non-Performing Loan (NPL) remained stable at 2.2% (0 bps YoY) in 6M25. Along with the maintained NPL, BBCA’s Loan at Risk (LAR) decreased by 70 bps to 5.7% in 6M25.

Therefore, with BBCA’s current share price and performance, we maintain our Buy rating for BBCA with a fair value of 11,400, representing a potential upside of 36.12% from the previous Company Update.

By PHINTRACO SEKURITAS | Research
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