Profile of Bank Negara Indonesia (BNI): Indonesia's Fourth-Largest Bank
Bank Negara Indonesia is the fourth-largest bank of Indonesia in terms of assets, lending and third party funds. The bank provides financial services which are supported by its subsidiaries in shariah banking (Bank BNI Syariah), financing (BNI Multi Finance), the capital market (BNI Securities), and insurance (BNI Life Insurance). In 1996, BNI became the first state-owned bank to go public on the Indonesia Stock Exchange (IDX) when it sold 25 percent of its equity to the public.
BNI's net profit in the first half of 2013 jumped 30 percent to IDR 4.28 trillion (USD $378 million), supported by a surge in both interest and non-interest income. Despite the current tighter monetary policy of the central bank (Bank Indonesia), BNI is still optimistic about its lending targets for 2013. Credit growth is expected to reach the range of 19 to 23 percent (yoy) by the end of 2013.
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Bank Negara Indonesia's Financial Highlights:
| 2008 | 2009 | 2010 | 2011 | 2012 | |
| Revenues | 9,912 | 11,133 | 11,737 | 13,196 | 15,459 |
| Net Income | 1,223 | 2,487 | 4,103 | 5,826 | 7,046 |
| Net Operating Income | 1,875 | 3,386 | 5,509 | 7,242 | 8,641 |
| Income before Tax | 1,932 | 3,444 | 5,485 | 7,461 | 8,900 |
| Total Assets | 201,741 | 227,497 | 248,581 | 299,058 | 333,304 |
| Total Liabilities | 186,279 | 208,322 | 215,431 | 261,215 | 289,778 |
| Capital Adequacy Ratio (CAR) | 13.5% | 13.8% | 18.6% | 17.6% | 16.7% |
| Non Performing Loan (NPL)¹ | 4.9% | 4.7% | 4.3% | 3.6% | 2.8% |
| Third Party Funds | 163,164 | 188,469 | 194,375 | 231,296 | 257,661 |
| Earnings per Share² | 80 | 163 | 266 | 312 | 378 |
| Cash Dividend per Share² | 8,00 | 47,48 | 65,98 | 62,48 | 113 |
| P/E Ratio (x) | – | – | – | 17.1 | 14.2 |
in billion IDR rupiah unless otherwise stated
¹ gross
² in IDR rupiah
Source: Bank Negara Indonesia, Annual Report 2012
Future Projection Bank Negara Indonesia's Financial Highlights:
| 2011 | 2012 | 2013F | 2014F | 2015F | |
| Revenues | 13,196 | 15,459 | 17,735 | 19,820 | 22,567 |
| Net Income | 5,826 | 7,046 | 8,266 | 9,686 | 11,421 |
| Earnings per Share¹ | 312 | 378 | 443 | 519 | 612 |
| P/E Ratio (x) | 13.6 | 11.2 | 9.6 | 8.2 | 6.9 |
in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Source: Danareksa Sekuritas