BBTN 3M-2026

BBTN delivered a solid performance in 1Q26, with net profit rising 22.6% YoY to IDR 1.1 trillion. Although interest and sharia income declined 2.4% YoY, reflecting continued pressure on asset yields and limited room for margin expansion, a deeper decline in interest and sharia expenses of 14.9% YoY supported a 12.3% YoY increase in net interest and sharia income. Looking ahead, we expect earnings growth to moderate, with FY2026 net profit projected to increase 4.4% YoY, while NIM is forecast to decline by 40 bps YoY to 3.8%, as yield pressure is likely to persist through year-end. This outlook reflects still-challenging global and domestic macroeconomic conditions, which may continue to limit margin recovery in the near term.

BBTN FY2025

In 2025, BBTN reported a solid performance, with net profit rising 16.42% YoY to IDR 3.50 trillion, from IDR 3.01 trillion in 2024. This growth was driven by a 58.52% YoY increase in net interest and sharia income, supported by a 32.02% YoY rise in interest and sharia income, while interest and sharia expenses increased only 0.41% YoY, indicating a more efficient funding mix. As a result, BBTN’s NIM expanded by 133 bps YoY to 4.19%, reflecting improved asset profitability. Looking ahead, we expect net profit to continue growing by around 15.58% YoY, with NIM moderating slightly to approximately 4.11% by end-2026.

BBTN 9M-2025

In 9M-2025, BBTN recorded a 10.58% YoY increase in net income to IDR 2.30 trillion, reflecting resilient operational performance. This was driven largely by a sharp 44.49% YoY rise in net interest and sharia income to IDR 12.61 trillion, supported by an 18.90% YoY increase in interest and sharia income while interest expenses grew only 2.52% YoY, highlighting effective funding cost control. Other operating income also expanded 9.51% YoY, further underpinning earnings growth. BBTN’s NIM strengthened meaningfully, reaching 3.9% in Q3-2025, up 100 bps YoY, indicating improved asset yields and disciplined pricing. We forecast full-year 2025 net income to reach IDR 3.29 trillion, representing 9.52% YoY growth.