07 MAY 2020
MNC Bank Record Profit Growth On Q1 2020
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JAKARTA - PT Bank MNC Internasional Tbk (MNC Bank) recorded profit growth and positive performance in their first quarter of 2020 as evident from a number of the company's financial indicators. Based on published financial statements for March 2020 period, MNC Bank has succeeded in improving its performance as seen from net interest income and operating profit.
President Director of MNC Bank Mahdan explained, the profit growth was inseparable from increase in several financial posts. This makes performance in the first quarter of this year better compared to the previous year for the same period. Net interest income increased from Rp 101.43 billion in the first quarter of 2019 to Rp 122.37 billion in the first quarter of 2020. Operating profit increased from Rp 3.28 billion in the first quarter of 2019 to Rp 7.14 billion in the first quarter of 2020. So that despite economic pressure due to the pandemic, MNC Bank's net profit continued to grow from Rp 3.08 billion in the first quarter 2019 to Rp 3.89 billion in the first quarter of 2020.
This performance growth was also followed by an improvement in the MNC Bank's financial ratios as seen from the Net Interest Margin (NIM) ratio rising from 4.10% in the first quarter of 2019 to Rp 5.10% in the first quarter of 2020, Non Performing Loans (NPLs) Net decreased from 3.58% in the first quarter of 2019 to Rp 3.10% in the first quarter of 2020, and Operating Expenses against Operating Income (BOPO) decreased from 98.94% in the first quarter of 2019 to Rp 97.69% quarter-first I 2020.
"With the ongoing run of Bank's Business Continuity Plan and various government regulatory and stimulus readiness, MNC Bank can offset the challenges presented by the pandemic," explained Mahdan in Jakarta, Wednesday (6/5). In this difficult time, MNC Bank supported a credit relaxation program as outlined in the Financial Services Authority Regulation regarding COVID-19 impact countercyclical policies. In addition to providing relaxation in accordance with regulations, MNC Bank also promotes credit supervision to maintain credit quality. Relaxation is not necessarily, but given on a case-by-case basis that maximizes economic potential for both the debtor and the bank.
As for capital, MNC Bank also recorded core capital growth from Rp 1.11 trillion in the first quarter of 2019 to Rp 1.18 trillion in the first quarter of 2020. This shows the commitment of controlling shareholders and the bank's resilience is quite good.
"By monitoring good credit quality and maintaining a balanced performance in order to remain positive, I am optimistic about the prospects of MNC Bank despite having to dance in a storm. My belief is supported by regulations that are far more ready, strong bank resilience, and better bank profitability, to not only survive in the current conditions, but to produce optimal performance and to always provide satisfying banking transaction services to the public. " Concluded Mahdan.



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