Bank Negara Indonesia's gross NPL ratio rose to 2.8% for the first nine months of 2015.
According to SNL Financial, Indonesia's GDP expanded 4.67% in the second quarter from a year earlier, the slowest pace since 2009, as the resources-rich nation faces headwinds from low commodity prices and a slump in China, Indonesia's largest trading partner. The World Bank in October cut its 2015 and 2016 growth projections for Indonesia.
Here's more from SNL Financial:
Worsening economic conditions are translating into challenges for banks, putting pressure on their asset quality. The industrywide nonperforming loan ratio hit 2.6% as of the end of May, as the mining and commodity sectors struggle, Fitch Ratings said in September. Still, nine Indonesian lenders covered by the rating agency have enough loss-absorption cushions for now, Fitch said at that time.
PT Bank Negara Indonesia (Persero) Tbk's latest results may be an indicator of what is to come. The fourth-biggest Indonesian bank by assets on Oct. 15 reported a 21.2% year-over-year drop in net income for the nine months through September, with the gross NPL ratio rising to 2.8% at the end of the period from 2.2% 12 months earlier, and with provisioning surging 93.6%.
Although the bank's third-quarter net profit came in above expectations, bad debt will likely continue to increase if macroeconomic circumstances remain challenging, with its NPL coverage ratio rising to 145% by the end of 2015 from 123.4% a year earlier, Teguh Hartanto, an analyst at PT Bahana Securities, said in an Oct. 16 note.
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Bank Negara Indonesia's gross NPL ratio rose to 2.8% for the first nine months of 2015.
According to SNL Financial, Indonesia's GDP expanded 4.67% in the second quarter from a year earlier, the slowest pace since 2009, as the resources-rich nation faces headwinds from low commodity prices and a slump in China, Indonesia's largest trading partner. The World Bank in October cut its 2015 and 2016 growth projections for Indonesia.
Here's more from SNL Financial:
According to SNL Financial, Indonesia's GDP expanded 4.67% in the second quarter from a year earlier, the slowest pace since 2009, as the resources-rich nation faces headwinds from low commodity prices and a slump in China, Indonesia's largest trading partner. The World Bank in October cut its 2015 and 2016 growth projections for Indonesia.
Here's more from SNL Financial:
Worsening economic conditions are translating into challenges for banks, putting pressure on their asset quality. The industrywide nonperforming loan ratio hit 2.6% as of the end of May, as the mining and commodity sectors struggle, Fitch Ratings said in September. Still, nine Indonesian lenders covered by the rating agency have enough loss-absorption cushions for now, Fitch said at that time.
PT Bank Negara Indonesia (Persero) Tbk's latest results may be an indicator of what is to come. The fourth-biggest Indonesian bank by assets on Oct. 15 reported a 21.2% year-over-year drop in net income for the nine months through September, with the gross NPL ratio rising to 2.8% at the end of the period from 2.2% 12 months earlier, and with provisioning surging 93.6%.
Although the bank's third-quarter net profit came in above expectations, bad debt will likely continue to increase if macroeconomic circumstances remain challenging, with its NPL coverage ratio rising to 145% by the end of 2015 from 123.4% a year earlier, Teguh Hartanto, an analyst at PT Bahana Securities, said in an Oct. 16 note.
If you need Loan, project funding, Bank Guarantee, SBLC, DLC or Letters of Credit please contact us immediately.
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Brokers are welcomed, appreciated and compensated with good commission.
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