JAKARTA (Yosefardi) – Along with the declining trend of loan growth, state banks PT Bank Rakyat Indonesia (BRI) Tbk (BBRI) and PT Bank Negara Indonesia (BNI) Tbk (BBNI) revised down their profit target for this year.
BRI will cut its loan growth target to about 11% from previous target of 15-17%. The bank’s profit will be also cut to below 10%. As at April 2015, BRI’s loan grew by 8.2% to Rp478.85 trillion, lower than 9.4% growth in previous month. While profit fell 5.1% in April, compared to 3.5% growth in March.
While BNI also expects the lower loan and profit growth, then it cuts its loan growth targets for this year to 13.14% from initial 15-17%. As at April, BNI’s loan grew by 5.9% to Rp253.96 trillion while net profit declined 1.47% to Rp3.24 trillion.