Analyst Meeting FY2019 PT. Bank Negara Indonesia (Persero) Tbk.
Analyst Meeting – FY2019 Content Macro Economy Financial Performance FY2019 Asset Quality Business and Consumer Banking 2 2
Macro Economy
Macro Economy Declining Global PMI Manufacture due to Trade War ¹ Global Trading Growth Dropped to 1.1% 5,7 6,00 6,00 6,00 5,75 5,25 5,25 5,00 4,75 4,25 4,25 3,39 3,9 2,48 3,6 3,6 2,72 3,61 2,48 3,2 3,1 3,40 2,8 3,12 3,13 3,02 2,88 2,3 1,1 2016 2017 1Q18 1H18 3Q18 2018 1Q19 1H19 3Q19 2019 7-D RR Rate (%) YoY Inflation (%) 2012 2013 2014 2015 2016 2017 2018 2019 2020 ▪ US-China trade war drove lower manufacture activity as global PMI World Economy Outlook Revised Down to 0.6%² Manufacture declined up to below 50 index, signing a contraction in manufacturing. ▪ Global trading growth experienced a 5.7% pre-Trade War and slipped to 1.1% 14.929 14.481 14.243 14.404 in 2019, a record low since 2012. 14.195 13.901 2,48 13.436 13.458 13.756 ▪ Slower trading and economy activities underlined IMF to revise down global economic growth to 3.0% in April 2019. A 60 bps cut from previous estimation of 3.6%. 116 130 126 120 115 121 124 124 124 129 ▪ Nevertheless, IMF projected Indonesia to experience a 5% economic growth in 2016 2017 1Q18 1H18 3Q18 2018 1Q19 1H19 3Q19 2019 October 2019, a 0.2% slashed from earlier forecast. A milder cut compared to other nations . Foreign Reserve (USD Bn) Exchange Rate Source: 1. Bloomberg, diolah. 2. WEO Oktober 2019, IMF. 4
Macro Economy Achieving the 4 th Place of Investment Destination² Sustained Reforms has Improved EoDB ¹ 187,9 14.929 USD Billiion 14.481 14.404 14.243 14.195 2,48 13.901 13.756 13.436 13.458 73 77,1 75,1 42,6 40,9 40,3 26,9 116 130 126 120 115 121 124 124 124 129 22,4 20,4 2016 2017 1Q18 1H18 3Q18 2018 1Q19 1H19 3Q19 2019 Foreign Reserve (USD Bn) Exchange Rate Going Forward, Indonesia Enjoys Large Investment Relative to Peers within Regions³ Total Investment/GDP (%) ▪ Indonesia continues to improve its fundamental to invite real investment and obtained higher rank on Easy of Doing Business by World Bank. ▪ Indonesia achieved the 4 th place of Investment Destination among peers in region of which receiving US$ 42.6 billion in year 2018. 31,31 31,27 31,78 34,47 34,52 34,55 23,61 22,48 23,14 26,94 27,21 29,56 24,99 24,95 25,31 26,57 26,34 26,26 ▪ Sustained improvement drives IMF to estimate Indonesia may enjoy large Investment compares to peers within regions or may attain 34.55% to its GDP India Indonesia Malaysia Philippines Thailand Vietnam ▪ Government aims to proceed OMNIBUS LAW to prompt furhter foreign direct investment 2018 2019e 2020e Source: 1. Easy of Doing Business 2020 Report, World Bank. 2. ADB November 2019, 3. IMF WEO Oct 2019 5
Macro Economy Lowest inflation since 2000 and lower policy rate Indonesia GDP 3Q2019 and to boost economic growth Loan System Growth GDP IDR 13.587T 3.512T 3.685T 3.842T 14.837T 3.782T 3.963T 4.068T GDP % 6,00 6,00 6,00 5,07 5,05 5.02 5,75 5,07 5,06 5,27 5,17 5,17 5,25 5,25 5,00 Private Cons 12,70% 12,88% 11,59% 4,75 7,90% 9,92% 10,75% 4,25 4,25 8,50% 8,20% Govt. 55,8% 3,39 2,48 56,1% 56,7% 55,0% 55,7% 56,8% 56,5% 55,2% Spending 2,72 3,61 2,48 9,1% 8,7% 9,0% 8,4% 6,4% 8,5% 6,4% 8,7% Fix. Cap 3,40 3,12 3,13 3,02 32,1% 32,2% 32,1% 31,1% 32,3% 32,2% 31,3% 32,3% 2,88 Export 21,9% 20,2% 20,8% 20,1% 21,0% 18,5% 17,6% 18,8% -19,2% -20,8% -20,9% -22,8% -22,1% -18,8% -18,5% -18,8% Import 2016 2017 1Q18 1H18 3Q18 2018 1Q19 1H19 3Q19 2019 2017 1Q18 2Q18 3Q18 2018 1Q19 2Q19 3Q19 7-D RR Rate (%) YoY Inflation (%) Industry Loan Growth Adequate Foreign Reserve to finance Challenging commodity business environment 7.6 months import 812,5 800 14.929 14.481 14.243 14.404 14.195 13.901 2,48 13.436 13.458 13.756 400 84,05 66,2 116 130 126 120 115 121 124 124 124 129 0/12/2016 30/10/2017 30/08/2018 30/06/2019 2016 2017 1Q18 1H18 3Q18 2018 1Q19 1H19 3Q19 2019 Coal CPO (RHS) Foreign Reserve (USD Bn) Exchange Rate Source: Bank Indonesia and BPS 6
Financial Performance FY2019
Highlighted Results [Consolidated] Δ YoY 2016 2017 2018 2019 Total Asset (IDR Billion) 603,032 709,330 808,572 845,605 4.6% [Cons] B / S Loan (IDR Billion) 393,275 441,314 512,778 556,771 8.6% Third Party Funds (IDR Billion) 435,545 516,098 578,775 614,311 6.1% Net Interest Income (IDR Billion) 29,995 31,938 35,446 36,602 3.3% [Cons] P & L Non Interest Income (IDR Billion) 8,174 9,308 9,615 11,358 18.1% PPOP (IDR Billion) 22,082 24,349 26,952 28,325 5.0% Net Profit (IDR Billion) 11,339 13,616 15,015 15,384 2.5% CASA (Consolidated) 64.6% 63.1% 64.8% 66.6% 1.8% Profitability & Efficiency COF (Third Party Funds) 3.1% 3.0% 2.8% 3.2% 0.4% NIM 6.2% 5.5% 5.3% 4.9% -0.4% ROE 15.5% 15.6% 16.1% 14.0% -2.1% ROA 2.7% 2.7% 2.8% 2.4% -0.4% CIR 44.0% 43.9% 42.5% 43.9% 1.3% NPL (Gross) 3.0% 2.3% 1.9% 2.3% 0.4% Quality Asset NPL (Nett) 0.4% 0.7% 0.8% 1.2% 0.3% Credit Cost 2.0% 1.6% 1.4% 1.6% 0.2% Coverage Ratio 146.0% 148.0% 152.9% 133.5% -19.4% Liqui- dity LDR 90.4% 85.6% 88.8% 91.5% 2.7% Capi- Tier-1 Capital 18.3% 17.4% 17.4% 18.6% 1.3% tal Total CAR 19.4% 18.5% 18.5% 19.7% 1.2% 8 All ratios are bank only unless otherwise stated.
Effective Strategies Leading to Gain Market Share Deposits Loan 2015 2019 2015 2019 Market share 2,4% Market share 2,0% 9,1% 9,5% 7.1% 7.1% 90,9% 92.9% 92.9% 90,5% CAGR CAGR *)as Jan’15 *)as Jan’15 *)Oct 2019 *)Oct 2019 BNI 15,3% BNI 13,9% Industry 8,7% Industry 6,0% BNI BNI Industry Industry • 2015- 2019, strong growth with CAGR 13.9% per year above ▪ 2015 – 2019, loan grew by CAGR 15.3% per year above the the industry lead to loan expansion strategy. industry at level CAGR 8.7%. • Healthy and sustainable current accounts growth with CAGR ▪ Successfully taking industry market share 2,4% from 7,1% in 18.8% per year, followed by time deposits 13.9% and saving 2015 to 9,5% at 4Q19. account 10.9%. Source: Indonesian Banking Statistic Oct’19 by OJK
Healthy & Sustainable Growth of CASA Current Account CASA Saving Account 2015 2019 2015 2019 2015 2019 Market share 1,6% Market share 0,6% Market share 2,9% 10,7% 12,3% 9.4% 9.1% 8.9% 9,4% 89,3% 90.6% 91.1% 90.9% 87,7% 90,6% CAGR CAGR *)as Jan’15 CAGR *)as Jan’15 *)as Jan’15 *)Oct 2019 *)Oct 2019 *)Oct 2019 BNI 18,8% BNI 14,7% BNI 10,9% Industry 9,5% Industry 8,9% Industry 8,5% Jan-15 Dec-15 Dec-16 Dec-17 Dec-18 Oct-19 +/- Jan-15 Dec-15 Dec-16 Dec-17 Dec-18 Oct-19 +/- Jan-15 Dec-15 Dec-16 Dec-17 Dec-18 Oct-19 +/- Current Account 9,4% 9,1% 10,7% 11,4% 12,6% 12,3% 2,9% CASA 9,1% 9,1% 10,1% 10,6% 11,3% 10,7% 1,6% Saving Account 8,9% 9,1% 9,6% 10,0% 10,4% 9,4% 0,6% Industry 90,6% 90,9% 89,3% 88,6% 87,4% 87,7% Industry 90,9% 90,9% 89,9% 89,4% 88,7% 89,3% Industry 91,1% 90,9% 90,4% 90,0% 89,6% 90,6% • Successfully executed strategies “BNI as CASA franchise” due to effectively building relationship with prominent corporates as well as creating ecosystem for retail & consumer business. • Through digital initiatives (eg, mobile banking), expansion of productive ecosystems (i.e, e-commerce, fintech, universities, etc), “SMART” City initiative: collaboration with regional-cities to provide digital financial solutions; payroll, utilities, cash management. Currently we are collaborating with 25 smart cities. Source: Indonesian Banking Statistik by OJK
Loan Composition [Consolidated] [Rp Bn] Growth Compo- Loan by Currency Segment 2016 2017 2018 2019 Amount YoY sition 15% 15% 16% 16% Corporate Private *) 116,990 134,392 151,711 181,453 29,742 19.6% 32.6% Business Banking Corporate SOE 78,319 84,366 110,988 106,977 (4,012) -3.6% 19.2% 85% 85% 84% 84% Medium 61,330 70,261 74,731 72,691 (2,040) -2.7% 13.1% 2016 2017 2018 2019 Small 50,684 56,479 66,063 75,461 9,397 14.2% 13.6% IDR Non IDR SUBTOTAL 307,323 345,498 403,493 436,581 33,088 8.2% 78.4% Loan Yield by Segment [IDR] & Blended Loan Yield [IDR & Non IDR] – Bank Only Mortgage 36,396 37,066 40,753 44,128 3,375 8.3% 7.9% Loan Yield (%) Payroll Loan 12,026 17,687 23,744 26,522 2,778 11.7% 4.8% Consumer 12,1 11,4 11,4 11,6 11,8 Credit Card 10,549 11,635 12,558 12,844 286 2.3% 2.3% 11,0 11,7 11,8 10,9 Others 6,097 5,057 2,680 2,380 (300) -11.2% 0.4% 10,9 10,8 10,7 11,0 10,8 10,8 SUBTOTAL 65,068 71,445 79,735 85,874 6,139 7.7% 15.4% 10,2 9,9 9,3 9,3 9,3 10,0 Subsidiaries 20,882 24,369 29,550 34,316 4,766 16.1% 6.2% 9,7 9,0 9,2 Total 393,273 441,312 512,778 556,771 43,992 8.6% 100.0% 9,0 Working Capital 191,173 226,191 268,888 278,893 10,005 3.7% 50.1% 2017 2018 1H19 3Q19 2019 Corporate Medium Small Consumer Loan Yield Investment Loan 125,281 130,292 149,511 175,711 26,201 17.5% 31.6% 11 *) Incl. Overseas Loans
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