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Jakarta, 25 JUL 2027
YZ' B N I
Nomor CSEI7I9
Perihal Laporan Informasi atau Fakta Material
Pemaparan Kinerja oleh Perusahaan Tercatat kepada Pihak Tertentu
(Analyst Meeting)
Lam p1 ran 1 (satu) set
Kepada Yth
Otoritas Jasa Keuangan
Gedung Soemitro Djojohadikusumo
Jalan Lapangan Banteng Timur 2 4 -
Jakarta Pusat
Up. Kepala Eksekutif Pengawas Pasar Modal
Dalam rangka memenuhi Peraturan Otoritas Jasa Keuangan Nomor 31/POJK.04/2015 tentang
Keterbukaan Informasi atau Fakta Material oleh Emiten atau Perusahaan Publik dan Peraturan
Nomor I—E Lampiran Keputusan Direksi PT Bursa Efek Indonesia No. Kep-00015/BEI/01-2021
tanggal 29 Januari 2021 tentang Kewajiban Penyampaian Informasi, dengan mi kami untuk dan
atas nama PT Bank Negara Indonesia (Persero) Tbk ("Perseroan") menyampaikan Laporan
Informasi atau Fakta Material sebagai berikut:
Nama Emiten PT Bank Negara Indonesia (Persero) Tbk
Bidang Usaha Perbankan & kegiatan usaha penunjang Iainnya
Telepon 021 —5728387
Alamat Surat Elektronik (email) bni@bni.co.id
1. Tanggal Kejadian : 25 Juli 2023
2 Jenis Informasi atau Fakta Material : Informasi atau Fakta Material Iainnya:
Perseroan menyelenggarakan Analyst
Meeting Kinerja Juni 2023 (unaudited)
3. Uraian Informasi atau Fakta Material
a. Dampak terhadap kegiatan
operasional
b. Dampak hukum -
c. Dampak terhadap kondisi keuangan
atau kelangsungan usaha
4. Keterangan lain-lain : Materi Analyst Meeting Kinerja
30 Juni 2023 terlampir
PT Bank Negara Indonesia (Persero) Tbkg.. /
Vfu L.urporace Secretary,
: i
vs
I R shartonio
Corpora e Secrc1ar
Tembusan - Direksi PT Bursa Efek Indonesia
Up. Drvisi Penrlaian Perusahaan Sektor Jasa
- Otoritas Jasa Keungan
Kepala Departemen Pengawasan Bank 1-5
PT Bank Negara Indonesia (Persero) Tbk
Kantor Pusat
ii. Jend. Sudirman Kay. 1
Jakarta Pusat 10220, Indonesia
www.bni.co.id
Page 2
CORPORATE PRESENTATION
1H2023
PT BANK NEGARA INDONESIA (PERSERO) TBK. | 25 July 2023
Page 3
Q12022
Page No.
01 03 | Management Highlights
Table of 02 11 | Macroeconomics Highlight
03 16 | Financial Performance
Contents 17 | Highlighted Results
19 | Loan Composition
20 | Loan Movement 2Q-2023
21 | Profit & Loss (Consolidated)
Earnings Call 22 | Fee Based Income
23 | Operating Expense
1H2023
24 | Balance Sheet (Consolidated)
25 July 2023 25 | Third Party Fund
26 | Liquidity (LCR, NSFR & LDR Ratios)
04 27 | Asset Quality
28 | Covid 19 Restructured Loan
29 | Loan Quality Trend
30 | Loan at Risk & Provision Coverage
31 | SML, NPL, Write Off & Recovery (Bank Only)
06 33 | Post 1H-23 Guidance Review
05 34 | Digital Initiatives
06 43 | Business and Consumer Banking
07 47 | ESG
08 58 | About BNI
PT BANK NEGARA INDONESIA (PERSERO) TBK.
09 70 | 5 Years Financial Data PAGE 2
Page 4
1H2023
Management
Highlight
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 3
Page 5
1H2023 Management Highlight
Quality-focused growth in pursuit of sustainability
LOAN (IDR Tn) CASA (IDR Tn) COST OF THIRD-PARTY FUND (%)
650.8
646.2 557.3 1.75
634.3 620.4
620.4 622.6 532.3 2.04
1.46 1.92
1.38 1.40
512.5
485.7 479.0
479.0 72.4%
90.1% 91.2% 90.1% 70.9%
69.2% 69.2% 69.6%
85.4% 85.2% 68.9%
84.2%
Jun 22 Sep 22 Dec 22 Mar 23 Jun 22 Jun 23 Jun 22 Sep 22 Dec 22 Mar-23 Jun 22 Jun 23
CASA Ratio (%) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23
LDR Bank Only (%)
NII & PPOP (IDR Tn) LOAN AT RISK (%) & COST OF CREDIT (%) EARNING AFTER TAX (IDR Tn)
Consensus FY23 EAT Rp21.5 Tn
11.1 20.6 19.6 10.3
19.6 19.6
17.3 5.2 8.8
17.2
16.0 16.3 16.1 5.1
10.4 16.1
10.4
10.2 4.8
8.7
8.7 8.6
8.6 4.6
1.9 2.2 1.4
1.6 1.4 1.5
2Q22 4Q22 1Q23 2Q23 2Q22 4Q22 1Q23 2Q23 1H22 1H23 2Q22 4Q22 1Q23 2Q23 1H22 1H23
1H22 1H23
Net Interest Income PPOP Cost of Credit (%) LAR – incl. Covid (%)
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 4
Page 6
1H2023 Management Highlight
Funding cost was impacted by monetary & fiscal policies
Higher Policy Rate and Statutory Reserve Requirement
Money supply growth remained modest
to support currency stability
Policy Rate & Statutory Reserve Requirement (%) Money Supply Growth (YoY%)
18.0
10.00 9.00 9.00
15.0
7.50 7.50 12.0
8.00
6.00 6.00 9.0 7.9
6.00 5.00 6.0
6.1
3.50 5.25 5.50 5.75 5.75 3.0
1.8
4.00 5.00 4.75
4.25 0.0
3.75 3.50 3.50 3.50 3.75
2.00 -3.0
Aug-21
Sep-21
Aug-22
Sep-22
Jul-21
Jul-22
Jan-21
Jun-21
Nov-21
Dec-21
Jan-22
Jun-22
Nov-22
Dec-22
Jan-23
Apr-21
Oct-21
Oct-22
Feb-21
Mar-21
May-21
Apr-22
Feb-22
Mar-22
May-22
Apr-23
Feb-23
Mar-23
May-23
Jul-22
Apr-22
May-22
Jun-22
Mar-23
Apr-23
Jun-23
Nov-22
May-23
Dec-19
Dec-20
Dec-21
Jan-22
Feb-22
Mar-22
Aug-22
Sep-22
Dec-22
Jan-23
Feb-23
Oct-22
BI7DRR (%) RRR (%) M2 (YoY %) Time Deposit (YoY %) Other Saving Deposit (YoY %)
Fiscal balance remained in surplus territory until May-2023 The widest gap between deposit and loan growth
Fiscal Deficit Realization (% of GDP)
Deposit and Loan Growth (YTD %)
2% 0.97% 0.73%
4.2
1%
0% 2.5
2.9 2.6 2.7
-1%
-2% 0.8 0.6 0.5
-3%
-4%
-5%
-6% -0.8
-7% -1.9
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD May 2019 YTD May 2020 YTD May 2021 YTD May 2022 YTD May 2023
2017 2018 2019 2020 2021 2022 2023
Deposit Loan
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 5
Page 7
1H2023 Management Highlight
Casa & loan yield improvement cushioned funding cost pressure
Inevitable increase in funding cost due to macro headwind CASA plays increasing role in financing for loan expansion
5.88% 82.2%
79.2%
77.3%
74.3%
70.0%
4.87%
3.71% Jun 19 Jun 20 Jun 21 Jun 22 Jun 23
CASA to Loan %)
3.19%
2.90% LOANde-risking
Healthy loan yield despite portfolio YIELD strategy
2.64% 2.63%
9.30
2.41% 8.44
7.82 7.36 7.66
1.98%
1.60%
1.51%
1.61% 1.42%
1.45%
1.26%
1.00% 1.02% 0.98%
2019 2020 2021 2022 1H22 1H23
1H-19 1H-20 1H-21 1H-22 1H-23
Blended CoF CoF CASA CoF TD Blended Loan Yield (%)
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 6
Page 8
1H2023 Management Highlight
Stick to selective expansion strategy given external headwind
GDP growth slowdown Commodity Price Correction KUR Subsidy uncertainty affecting growth
Real GDP Growth (YoY %) 2,000 600
51%
5.72%
1,500 450
5.44% 5.30%
849 300
26%
5.01% 5.01% 5.03% 4.80%-5.20% 1,000
500 150
133
-1%
- -
Jun-18 Jun-19 Jun-20 Jun-21 Jun-22 Jun-23
Jun-21 Jun-22 Jun-23
1Q22 2Q22 3Q22 4Q22 1Q23 FY22A FY23F CPO Price Malaysia (USD per ton) [LHS] Coal Price Newcastle (USD per ton) [RHS] BNI KUR YoY Growth (%)
»
»
»
17.6
16.6
4.6% yoy
9.0
7.9 7.5
4.9
Selective growth RWA density for 79.3
strategy driven by credit risk continues 74.7
to decline, indicating
Credit Card
Loan Consol
Corporate Private
Mortgage
SME KUR
Corporate SOE
Commercial
Payroll Loan
SME Non-KUR
Enterprise
blue chip
corporates and an improving
-0.8
consumers -8.4
risk profile
-10.2 Jun-22 Jun-23
-11.5
RWA Density for credit risk (%)
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 7
Page 9
1H2023 Management Highlight
Defensive asset quality
NPL & NPL Coverage Ratio CoC kept improving even after coverage build-up for watchlist debtors
4.3%
3.7%
3.2% 2.8%
2.3% 2.5% 4.1%
3.3%
2.2%
308.8% 1.9%
263.3% 278.3% 1.6% 1.4%
233.4%
182.4%
133.5%
2019 2020 2021 Jun-22 2022 Jun-23
2019 2020 2021 2022 1H22 1H23
NPL Coverage % NPL Ratio(%)
CoC %
LaR & LaR Coverage Ratio
Sufficient coverage for watchlist construction debtors
28.7%
23.3%
19.6%
16.0% 16.1%
1.43%
9.4%
53.5%
LLR % as of Jun 23
1.30%
48.8% 47.1%
42.3%
32.3% 37.0%
27.0% 46.6%
LLR % as of Dec 22
Dec 22 Jun 23
2019 2020 2021 Jun 22 2022 Jun 23
% to Total Loan
LAR Coverage Ratio (%) LAR ratio (%)
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 8
Page 10
1H2023 Management Highlight
Current external headwinds = Upside catalyst later on
Low Inflation, stable exchange rate, Ramp Up in Multiple election
and near end of Fed rate hike should government spending spending in late 2023
translate to lower RRR followed by toward year end and full year 2024
rate cut in mid term
Projected FFR (bps) State Expenditure (IDR Tn) 28 Nov’23 - 10 Feb’24
Campaign period
Market expect Expecting 1,868
525-550
500-525
525-550
14 Feb’24
475-500
450-475
gradual FFR cut larger fiscal
425-450
400-425
375-400
3,124
starting in 1Q24 spending 1st round of the Presidential
1,256 and Legislative Elections
FY23 Outlook 1H23 Realization 2H23 Spending
13-Dec-23
5-Jan-24
19-Jun-24
11-Jun-24
18-Dec-24
25-Sep-24
20-Mar-24
26-Jul 23
2 Jun’24 - 22 Jun’24
* % deficit to GDP = -2.3% Campaign period for the 2nd
round (if any)
Policy Rate (7DRRR-%) Average Weekly IDR Gov Bond Auction (Rp Tn)
5.75 17.02 26 Jun’24
5.5 4.5-5.25 And lower
BI policy rate 4.0-4.75
3.75 10.01 10.07 Potentially 2nd round of
(7DRRR) 3.5 crowding-out
7–8 presidential election
slashed by at risk in 2H23
least 50bps in
2024 27 Nov’24
1Q23 2Q23 3Q23F 4Q23F Regional Election
2020 2021 2022 2023F 2024F 2025F
All the above translates to:
CoF improvement from third party More supportive environment
funds growth recovery for loan growth
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 9
Page 11
1H2023 Management Highlight
Preparing an SME-Focused Digital Bank as Long-Term Growth
Engine for The Group
Maintaining sound fundamentals while transforming On-going transformation
Milestones
into a digital-first SME bank
18 May 2022 Shareholders Structure Ecosystem based SME Financing
Officially acquired PT Bank Mayora
New SME loan booking (1H23)
6 Jan 2023
Mayora
Inti Utama
BNI IDR600Bn thru clustered based financing
Appointment of the New Management
FMCG Cluster
36,08% 63,92%
Supplier Financing Distributor Financing
17 May 2023
Rebranding as hibank to support the vision
of becoming Indonesia's Leading MSME
Digital Bank.
1H-23 hibank Performance Snapshot
IDR12.6 T 50% 36%
Total Asset Loan Growth ytd CASA Growth ytd
Logo Philosophy: 61.2% 2.1% 119%
“Hi” is a component of the word HIGH. "hi" is also associated LDR Ratio Jun23 Gross NPL NPL Coverage
with friendly, friendly, simple, and reliable characters
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 10
Page 12
1H2023
Macroeconomics
Highlight
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 11
Page 13
1H2023 Macroeconomics Highlight
Indonesia’s economic position is on a better footing compared to other countries
Inflation (YoY%)
Economic Growth (YoY%) Nominal growth was supported by high prices after the economy restarted and
geopolitical tension Argentina
China 6.3
Turkey
India 6.1
United Kingdom 7.9
Indonesia 5.0
Italy 6.4
Turkey 4.0
Germany 6.4
Brazil 4.0
Australia 5.6
Saudi Arabia 3.8
South Africa 5.4
Mexico 3.7 Mexico 5.1
Australia 2.5 India 4.8
Canada 2.4 France 4.5
Italy 2.0 Indonesia 3.5
United States 2.0 Japan 3.3 Average: 11.8%
Japan 1.9 Russia 3.3
Argentina 1.3
Average: 2.4%
Brazil 3.2
France 1.1 United States 3.0
South Korea 0.9 Canada 2.8
South Africa 0.2 Saudi Arabia 2.8
United Kingdom 0.0 South Korea 2.7
Germany -0.2 China 0.0
Russia -1.8
0 2 4 6 8 10 12 14 16 18 20
-3 -2 -1 0 1 2 3 4 5 6 7
Expected slowdown toAccount
Current take place notably
Balance to GDP in
(%)the US and the Eurozone Public debt to GDP (%)
Saudi Arabia 7.2 Japan 226.1
Germany 7.0 Italy 143.5
Russia 3.8 United States 121.3
China Average: -0.3% 2.0 France 112.5
Japan 1.8 United Kingdom 101.0
Australia 1.5 Argentina 80.3
Indonesia 0.9 Brazil 72.8
United Kingdom 0.4 South Africa 70.9
India -0.2
Germany 65.9
Italy -0.5
India 55.7
Canada -0.7
Mexico 54.9 Average: 75.5%
South Korea -1.1
France -1.7 South Korea 47.8
Brazil -2.5 Indonesia 39.1
South Africa -2.9 Turkey 31.2
United States -3.0 Saudi Arabia 23.0
Mexico -3.6 China 21.4
Argentina -3.7 Russia 15.5
Turkey -9.9
0 50 100 150 200 250
-12 -10 -8 -6 -4 -2 0 2 4 6 8 10
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 12
Page 14
1H2023 Macroeconomics Highlight
Inflation has been benign while the Rupiah has been outperforming others
YE 23 Inflation is expected to fall within BI’s inflation target Manageable food prices have been the key for the benign inflation
7.00
5.95
16
5.71
5.51
5.47
5.42
5.28
6.00 BI’s inflation target is at 3±1% 14
4.97
4.94
Jun-23, 9.21
4.69
12
4.35
4.33
5.00
4.00
10
3.55
3.52
3.47
4.00
2.98
2.96
8 Jun-23, 3.52
2.67
2.67
2.64
2.19
2.18
3.00
2.06
6
1.96
1.87
1.75
1.68
1.68
1.66
1.60
1.59
1.59
1.55
1.54
1.52
1.42
1.42
1.42
1.38
1.37
1.33
1.32
2.00 Jun-23; 2.58 4
Jun-23, 2.58
2
1.00 Jun-23, 1.20
0
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Jan-23
Mar-21
Mar-22
Mar-23
Nov-22
Sep-20
Nov-20
Sep-21
Nov-21
Sep-22
May-20
May-21
May-22
May-23
0.00 -2
Nov-20
Nov-21
Nov-22
Jul-20
Jul-21
Jul-22
Sep-20
Sep-21
Sep-22
Jan-20
Jan-21
Jan-22
Jan-23
May-20
May-21
May-22
May-23
Mar-20
Mar-21
Mar-22
Mar-23
Headline Inflation (% YoY) Core Inflation (% YoY)
General Inflation (% YoY) Core Inflation (% YoY)
Administered-Price Inflation (% YoY) Volatile Inflation (% YoY)
IDR has outperformed other currencies' The Rupiah is projected to hover around Rp14,450 – 15,150 in 2H23
10.00 16000
8.00 9.1
15500
6.00
15400
2.0
15000
15267
3.5
15200
4.00
1.98 0.9 1.85
14868
1.58
14500
14750
Upcoming
2.00 1.05
0.07 -0.1 0.02 1.0
Upcoming
14450
0.00
14000
-2.00 -0.57 0.9 -0.52 -0.71
-4.00
13500
-3.6 -3.4
-6.00 13000
CHY MYR VND INR THB SGP PHP IDR BRL 1Q23 2Q23 3Q23 4Q23
Ex. Rate (USD/IDR)
FX Rate Appr. / Depreciation Against the USD (negative value implies depreciation) Forecast Realisation
% MOM % YTD
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 13
Page 15
1H2023 Macroeconomics Highlight
Indonesia’s 7DRRR to remain unchanged until year end on the back of macro stability
Our Modified Taylor Rule Model projects that 7DRRR will remain unchanged
The monetary stance of advanced central banks will remain tight until YE23 on the back of macro stability
12.0 Optimum Policy Rate (Modified Taylor Rule Model)
10.0
8.0
6.0
5.75%
4.0
2.0
7DRRR 7DRRR-model
0.0
1Q04
4Q04
3Q05
2Q09
1Q10
4Q10
3Q11
2Q15
1Q16
4Q16
3Q20
2Q21
1Q22
4Q22
2Q06
1Q07
4Q07
3Q08
2Q12
1Q13
4Q13
3Q14
3Q17
2Q18
1Q19
4Q19
3Q23
▪ The interest rate hike cycle of advanced central banks (such as The Fed, ECB, and BoE) is not yet over
▪ The market and economists expect the Fed to hike FFR by 25bps to 5.5% next week
▪ BNI predicts BI7DRRR will remain unchanged at 5.75% until year-end, given the macro stability of inflation and exchange rate.
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 14
Page 16
1H2023 Macroeconomics Highlight
Loan growth continues to outweigh deposit growth
LDR has been above 80% since Mar-23… …as third-party fund decreased while loan disbursement recorded otherwise
84% ∆ TPF: &
Rp-154tn
Loan YTD
ytd
∆ Loan: Rp+175tn ytd
82% 8,500
80%
8,000
8,129
7,975
78%
7,500
76%
74% 7,000
82.4%
80.3%
79.3%
78.3%
77.3%
78.1%
81.4%
82.0%
79.4%
79.2%
80.5%
82.3%
81.8%
81.0%
80.9%
80.9%
80.1%
79.1%
78.0%
77.6%
78.4%
80.0%
80.0%
81.2%
81.2%
79.8%
78.6%
79.7%
80.9%
72%
6,500
6,563
70% 6,389
May-21
May-23
May-22
Jan-21
Nov-22
Jan-23
Jan-22
Nov-21
Mar-21
Mar-22
Jul-21
Jul-22
Mar-23
Sep-22
Sep-21
6,000
December 2022 May 2023
TPF (RpTn) Loans (RpTn)
Investment loan growth has been the highest on annual basis NPL level remains stable at 2.5%
16.00 3.60
14.00 11.6 3.40
12.00
9.7 3.20
10.00
9.5 3.00
8.00
8.1 2.80
6.00 Apr-23; 2.53
4.00 2.60
2.00 2.40
0.00 2.20
01/2022
02/2022
03/2022
04/2022
05/2022
06/2022
07/2022
08/2022
09/2022
10/2022
11/2022
12/2022
01/2023
02/2023
03/2023
04/2023
05/2023
2.00
Nov-21
Jan-22
Jun-22
Nov-22
Dec-22
Jan-23
Jan-21
Jun-21
May-21
May-22
Dec-21
Feb-21
Feb-22
Feb-23
Aug-21
Sep-21
Sep-22
Mar-21
Apr-21
Mar-22
Mar-23
Jul-21
Jul-22
Oct-22
Oct-21
Apr-22
Aug-22
Apr-23
Working Capital (% yoy) Investment (% yoy) Consumption (% yoy) Total Loans (% YoY)
NPL Ratio (%)
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 15
Page 17
1H2023
Financial
Performance
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 16
Page 18
1H2023 Financial Performance
Highlighted results
HIGHLIGHTED RESULTS (IDR Bn) 1H22 1H23 YoY (%) 3Q22 4Q22 1Q23 2Q23 QoQ (%)
Total Asset 946,495 1,025,091 8.3 943,608 1,029,837 1,012,363 1,025,091 1.3
Loan 620,423 650,770 4.9 622,607 646,188 634,326 650,770 2.6
B/S
Third Party Funds 691,837 765,009 10.6 685,235 769,269 743,729 765,009 2.9
[Consolidated]
CASA 478,983 532,340 11.1 485,676 557,320 512,542 532,340 3.9
Time Deposit 212,854 232,670 9.3 199,559 211,949 231,187 232,670 0.7
Net Interest Income 19,610 20,602 5.1 10,589 11,122 10,404 10,198 -2.0
Interest Income 25,531 30,295 18.7 13,740 15,389 15,019 15,276 1.7
Interest Expense (5,921) (9,693) 63.7 (3,150) (4,267) (4,615) (5,078) 10.0
Non Interest Income 7,552 6,925 -8.3 3,462 3,806 3,235 3,690 14.1
P&L
[Consolidated]
OPEX (12,532) (12,792) 2.1 (6,829) (7,698) (6,503) (6,289) -3.3
PPOP 17,243 17,300 0.3 8,588 8,581 8,652 8,648 0.0
Provisioning Charges (6,403) (4,511) -29.5 (2,525) (2,586) (2,149) (2,362) 9.9
Net Profit 8,803 10,302 17.0 4,889 4,620 5,221 5,081 -2.7
P T B A N K N E G A R A I N D O N E S I A ( P E R S E R O ) T B K | Disclaimer: Since Jun-22, BNI has consolidated Bank Mayora as subsidiary PAGE 17
Page 19
1H2023 Financial Performance
Key ratios
HIGHLIGHTED RESULTS (%) 1H22 1H23 YoY 3Q22 4Q22 1Q23 2Q23 QoQ
CASA Ratio (Consolidated) 69.2 69.6 0.4 70.9 72.4 68.9 69.6 0.7
COF (Third Party Funds) 1.4 2.0 0.6 1.4 1.8 1.9 2.0 0.1
NIM 4.70 4.58 -0.1 5.01 4.85 4.67 4.48 -0.2
Profitability &
Efficiency Risk Adjusted NIM 3.2 3.6 0.4 3.8 3.7 3.7 3.4 -0.3
[Bank Only]
ROAE* 15.1 15.3 0.2 15.4 14.3 15.5 15.1 -0.3
Pre-tax ROAA 2.4 2.5 0.1 2.6 2.4 2.7 2.4 -0.3
CIR 40.4 41.1 0.7 43.2 46.1 41.7 40.6 -1.1
LaR - Incl Covid 19.6 16.1 -3.5 19.3 16.0 16.3 16.1 -0.2
NPL (Gross) 3.2 2.5 -0.7 3.0 2.8 2.8 2.5 -0.3
Asset Quality
Credit Cost 2.2 1.4 -0.7 1.6 1.6 1.4 1.5 0.1
[Bank Only]
LAR Coverage Ratio (Inc. Covid) 42.3 47.1 4.8 42.7 48.8 48.9 47.1 -1.8
NPL Coverage Ratio 263.3 308.8 45.5 270.8 278.3 286.8 308.8 22.0
LDR 90.1 85.1 -5.0 91.2 84.2 85.4 85.1 -0.3
Liquidity
LCR 215.3 204.8 -10.5 193.1 219.0 203.4 204.8 1.4
[Bank Only]
NSFR 126.1 155.1 29.0 124.2 164.1 154.1 155.1 1.0
Capital Tier-1 CAR 16.5 19.8 3.3 17.0 17.5 19.8 19.8 0.0
[Bank Only] Total CAR 18.4 21.6 3.2 18.9 19.3 21.6 21.6 -0.1
*ROAE with average total equity as denominator ; 17.0% in 1H23 if the denominator is Tier 1 Capital as reported to OJK
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1H2023 Financial Performance
Healthy growth from lower risk segments
(IDR Tn)
LOAN YIELD BY SEGMENT (%) – BANK ONLY
GROWTH - %
SEGMENT JUN-22 SEP-22 DEC-22 MAR-23 JUN-23
QoQ YoY
SEGMENT 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23
Corporate Private 205.3 211.9 232.7 234.0 239.3 2.3 16.6
Blended Loan 7.29 7.43 7.51 7.76 7.65 7.66
Corporate SOE 105.9 97.5 91.6 83.4 95.1 13.9 -10.2
Corporate 5.91 6.15 6.25 6.66 6.71 6.96
Business Banking
Medium 100.8 101.7 106.3 101.9 100.1 -1.8 -0.7 Medium 6.85 6.85 7.41 7.06 7.64 7.74
Enterprise 48.5 49.4 53.1 52.2 52.1 -0.1 7.5 Small 9.33 9.84 9.50 10.23 9.03 8.39
Commercial 52.3 52.3 53.2 49.8 47.9 -3.6 -8.4 Consumer 9.70 9.43 9.34 9.34 9.15 8.98
Small 100.2 100.8 101.6 96.5 94.0 -2.6 -6.3 IDR Yield 8.16 8.33 8.19 8.39 8.10 8.03
FX Yield 3.74 3.82 4.69 5.27 5.81 6.07
Govt Subs Loan (KUR) 49.0 51.3 52.7 50.1 48.6 -2.9 -0.8
SME Non-KUR 51.2 49.5 48.9 46.4 45.4 -2.2 -11.5
LOAN COMPOSITION (IDR Tn)
SUBTOTAL 512.3 511.9 532.2 515.8 528.5 -2.4 3.2
Mortgage 51.2 51.9 53.5 54.5 55.3 1.4 7.9 120 .0%
620,4 622,6 646,2 634,3 650.8 700 .0
Consumer
0.8%
650 .0
Personal Loan 39.1 41.4 43.1 44.5 46.0 3.3 17.6 100 .0%
0.6% 0.6% 0.6% 0.9%
600 .0
16.8% 17.2% 17.0% 17.9% 17.9%
Credit Card 12.0 12.1 12.3 12.9 13.1 1.7 9.0 80. 0%
550 .0
16.2% 16.2% 15.7% 15.2% 14.4%
Others 1.8 1.5 1.2 1.5 2.0 34.4 12.4
500 .0
60. 0%
16.2% 16.3% 16.5% 16.1% 15.4% 450 .0
SUBTOTAL 104.2 106.9 110.1 113.4 116.4 2.6 11.7 400 .0
40. 0%
Subsidiaries 4.0 3.8 3.9 5.0 5.9 17.8 49.7
350 .0
20. 0%
50.2% 49.7% 50.2% 50.1% 51.4% 300 .0
Total 620.4 622.6 646.2 634.3 650.8 2.6 4.9 250 .0
Working Capital 357.3 355.9 375.1 364.6 382.4 4.9 7.0 0.0 % 200 .0
Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Investment Loan 158.6 159.5 160.7 155.9 151.2 -3.0 -4.6 Subsidiaries Consumer Small Medium Corporate
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Page 21
1H2023 Financial Performance
Rp64.1 trillion loans disbursed in Q2-2023 (bank only)
TOP 3 INDUSTRIES CONTRIBUTING TO QoQ LOAN GROWTH IN JUN-23
QoQ LOAN MOVEMENT (IDR Tn)
Outstanding Increase (IDR Tn) %
64.1 44.4 4.0
Quarter-on-Quarter
Corporate
Transport, Warehouse & 28%
Communication 8.3
• Corporate : 37.0Tn
• Medium : 6.7 Tn Infrastructure 5%
Enterprise : 4.1 Tn
2.3
629.8 Commercial : 2.6 Tn
• Small : 8.3 Tn 645.5 Manufacturing 1.4 1%
• Consumer : 12.1 Tn
0.5 5%
Enterprise
Trading, Restaurant & Hotel
Manufacturing 0.5 3%
Mar 2023 Disbursment Install/Paid-Off Write-Off Jun 2023
Natural Resources 0.3 5%
YoY LOAN MOVEMENT (IDR Tn) TOP 3 INDUSTRIES CONTRIBUTING TO YoY LOAN GROWTH IN JUN-23
Outstanding Increase (IDR Tn) %
223.6 11.7
264.2 Year-on-Year
Corporate
Natural Resources 13.7 78%
• Corporate : 146.4Tn 5.3 19%
• Medium : 33.7Tn Business Services
616.6 Enterprise : 20.4Tn 645.5
Commercial : 13.3Tn Infrastructure 4.5 10%
• Small : 36.5Tn
• Consumer : 47.5Tn
30%
Enterprise
Trading, Restaurant & Hotel 2.9
Jun 2022 Disbursment Install/Paid-Off Write-Off Jun 2023 Manufacturing 1.1 8%
Transport, Warehouse & 24%
0.7
Communication
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 20
Page 22
1H2023 Financial Performance
Better asset quality drives lower provisioning charges
CONSOLIDATED PROFIT & LOSS
1H22 1H23 YoY (%) 3Q22 4Q22 1Q23 2Q23 QoQ (%)
(IDR Bn)
Interest Income 25,531 30,295 18.7 13,740 15,389 15,019 15,276 1.7
Interest Expense (5,921) (9,693) 63.7 (3,150) (4,267) (4,615) (5,078) 10.0
Net Interest Income 19,610 20,602 5.1 10,589 11,122 10,404 10,198 -2.0
Premium Income Net 708 782 10.5 401 443 377 405 7.4
Non-Interest Income 7,552 6,925 -8.3 3,462 3,806 3,236 3,689 14.0
Recovery 1,906 1,783 -6.5 964 910 1,138 645 -43.3
Operating Income 29,776 30,092 1.1 15,417 16,280 15,155 14,937 -1.4
Operating Expense (12,532) (12,792) 2.1 (6,830) (7,697) (6,503) (6,289) -3.3
Pre-Provision Income (PPOP) 17,243 17,300 0.3 8,588 8,581 8,652 8,648 0.0
Provisioning Charges (6,403) (4,511) -29.5 (2,525) (2,586) (2,149) (2,362) 9.9
Non-Operational Inc/(Exp) (22) (85) 286.4 (96) (94) (46) (39) -15.2
Net Income before Tax 10,819 12,704 17.4 5,966 5,902 6,457 6,247 -3.3
Net Income 8,803 10,302 17.0 4,889 4,620 5,221 5,081 -2.7
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Page 23
1H2023 Financial Performance
Positive uptick in latest quarterly fee income
BREAKDOWN NON-INTEREST INCOME (IDR Bn)
FEE INCOME FROM BANKING ACTIVITIES GREW BY 3.0% YoY
NON – INTEREST INCOME 1H-22 1H-23 YoY-% 3Q-22 4Q-22 1Q-23 2Q-23 QoQ - %
3,484 3,443 3,977 3,218 3,661 7,482 6,879
Consumer Banking 3,342 3,397 1.6 1,747 1,834 1,652 1,745 5.6
575 1,275 902
Account Maintenance 1,041 1,102 5.9 519 599 508 594 17.0 541
574 484 499 361 1,024
1,397
356 381 591
ATM & e-Channel 750 648 -13.6 375 370 315 333 5.7 434
Debit Card Maintenance 265 273 3.2 136 137 136 137 1.0 4,953
2,578 2,903 4,810
2,554 2,422 2,529
PPOB & Billpayment 162 212 30.6 89 92 104 108 3.7
Remittance 110 127 15.3 59 67 64 63 -1.6
2Q22 3Q22 4Q22 1Q23 2Q23 1H22 1H23
Card Business, Bancass, etc 1,014 1,034 1.9 568 569 526 510 -2.9 Other Fee Income Trading Activities Banking Activities
Business Banking 4,140 3,483 -15.8 1,696 2,143 1,565 1,917 22.5
KEY FEE INCOME GROWTH CONTRIBUTORS
Trade Finance 589 618 4.9 299 376 327 291 -11.0
PPOB & Share Investment,
Marketable securities 1,069 630 -41.1 241 279 223 407 82.5 Trade Finance
Billpayment Custody, Coop
FX Trading, Revaluation & Fee
978 484 -50.6 201 415 191 293 53.4
Derivatives
Pension Fund 108 217 101.5 56 47 62 155 150.0
Syndication 353 262 -25.6 258 332 158 104 -34.2
1,272
Share Investment, Custody, Coop
1,043 1,272 22.0 643 694 604 667 10.4
Fee, Etc 618
589
Total Non-Interest Income 212 1,043
7,482 6,879 -8.1 3,443 3,977 3,217 3,662 13,8 162
(Bank Only)
Other Subsidiaries 70 46 -34.0 19 (171) 18 28 55.6
Total Non-Interest Income 1H22 1H23 1H22 1H23 1H22 1H23
7,552 6,925 -8.3 3,462 3,806 3,235 3,690 14.1
(Consolidated)
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Page 24
1H2023 Financial Performance
Opex realignment with strong focus on IT & Digitalization
OPEX COMPOSITION (IDR Bn) COST TO INCOME RATIO & COST TO ASSET BANK ONLY - %
OPERATING EXPENSES
1H-22 1H-23 YoY - % 3Q-22 4Q-22 1Q-23 2Q-23 QoQ - %
(OPEX)
Personnel Expenses 5,841 5,775 -1.1 3,242 3,374 3,122 2,653 -15.0 44.2
43.9 43.3
42.5 42.6
Base Salary 1,985 2,117 6.6 1,003 1,015 1,121 995 -11.2 40.4 41.1
Other Allowance 1,810 1,516 -16.2 1,442 1,466 763 753 -1.4
2.5 2.6 2.6 2.5 2.5
Post Employee Benefits 1,628 1,634 0.4 530 522 1,018 616 -39.5
1.3 1.2
Training 74 91 23.5 52 141 24 67 181.2
2018 2019 2020 2021 2022 1H-22 1H-23
Subsidiaries 344 417 21.1 214 230 195 222 13.5
CIR Cost to Asset
G&A Expenses 3,352 3,656 9.1 1,875 2,451 1,782 1,874 5.2
IT & Telecommunication 479 671 40.2 361 538 327 344 5.1 QUALITY OVER QUANTITY
PERSONNEL EXPENSES NUMBER OF
Occupancy Related 361 369 2.5 182 249 183 186 1.5 Zero-growth (IDR Bn] EMPLOYEE
Promo Sponsor
Headcount
398 412 3.7 256 422 170 242 42.4
reprioritized to
Transport & Travel 76 104 36.3 52 57 54 50 -6.8 business &
digital units
Goods, Prof. Services &
1,852 1,876 1.3 918 1,034 953 923 -3.1
Others
Subsidiaries 186 223 20.0 106 151 95 129 36.0 Result-oriented 27,084
26,934
reward scheme 5,841 5,775
Other Expenses 3,145 3,133 -0.4 1,610 1,761 1,495 1,638 9.6
calibration to retain
Other Subsidiaries 194 227 17.1 104 112 105 123 17.6 and attract top
1H22 1H23 1H22 1H23
talents
Total Operating Expenses 12,532 12,792 2.1 6,830 7,697 6,503 6,289 -3.3
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Page 25
1H2023 Financial Performance
Sound Balance Sheet Profile
GROWTH - %
CONSOLIDATED BALANCE SHEET (IDR Bn) JUN-22 SEP-22 DEC-22 MAR-23 JUN-23
QoQ YoY
Total Assets 946,495 943,608 1,029,837 1,012,363 1,025,091 1.3 8.3
Placement with other banks & BI 48,575 25,190 51,569 60,099 67,837 12.9 39.7
Current Account with Bank Indonesia 42,620 54,296 82,922 52,069 47,075 -9.6 10.5
Marketable Securities [market value] 27,715 26,821 28,556 30,823 32,325 4.9 16.6
Government Bonds [market value] 114,814 116,733 121,291 123,018 121,408 -1.3 5.7
Loans (gross) 620,423 622,607 646,188 634,326 650,770 2.6 4.9
Third Party Funds 691,837 685,235 769,269 743,729 765,009 2.9 10.6
CASA 478,983 485,676 557,320 512,542 532,339 3.9 11.1
- Current Account 249,734 255,256 314,625 285,076 301,766 5.9 20.8
- Saving Account 229,250 230,420 242,695 227,466 230,574 1.4 0.6
Time Deposits 212,854 199,559 211,949 231,187 232,670 0.6 9.3
Deposits from other Banks 18,436 15,164 15,245 21,753 15,226 -30.0 -17.4
Marketable Securities Issued 24,424 21,747 22,110 21,485 21,482 0.0 -12.0
Borrowings 35,626 37,693 35,654 34,597 26,081 -24.6 -26.8
Shareholders’ Equity 130,491 134,002 140,198 145,063 143,474 -1.1 9.9
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Page 26
1H2023 Financial Performance
Maintain a healthy CASA level
THIRD PARTY FUNDS (IDR Tn) THIRD PARTY FUNDS COMPOSITION
GROWTH - % (IDR Tn)
SEGMENT JUN-22 SEP-22 DEC-22 MAR-23 JUN-23 691,8
QoQ YoY 685,2 769,3 743,7 765,0
120 .0% 815 .0
CASA 479.0 485.7 557.3 512.5 532.3 3.9 11.1 100 .0%
715 .0
615 .0
30.8% 29.1% 27.6% 31.1% 30.4%
Current Account 249.7 255.3 314.6 285.1 301.8 5.9 20.8 80. 0% 515 .0
415 .0
31.5%
60. 0%
Saving Account 229.2 230.4 242.7 227.5 230.6 1.4 0.6 33.1% 33.6% 30.6% 30.1% 315 .0
40. 0% 215 .0
Time Deposit
115 .0
212.9 199.6 211.9 231.2 232.7 0.6 9.3 20. 0%
36.1% 37.3% 40.9% 38.3% 39.5% 15.0
0.0 % (8 5.0)
Third Party Funds 691.8 685.2 769.3 743.7 765.0 2.9 10.6
Jun-22 Sept-22 Dec-22 Mar-23 Jun-23
CASA Ratio* 69.2% 70.9% 72.4% 68.9% 69.6% 0.7 0.4 Current Account Saving Account Time Deposit
*Consolidated
COST OF THIRD-PARTY FUNDS (%) – BANK ONLY STICKY CASA STRATEGY BY FOCUSING ON TRANSACTION
Mobile Banking and Cash Management Transaction Value increased
contributed significantly to CASA significantly YOY
3.85
3.54
3.17 3.17 3.32 As of Jun-23:
3.02
2.82
2.61 Mobile
2.47 2.35 2.35 IDR 544 Tn
1.92 2.04 Banking
1.74 1.74 1.75 +52% YoY
1.64 1.55 1.47 1.46 1.38 1.40
1.80
65% 90%
1.78
1.38 1.38 1.29 1.52
1.24 1.23 1.38 1.33 1.40 retail saving balance wholesale Current
0.71 0.65 0.58 0.55 0.61 0.61 0.58
comes from mobile Account balance from Cash IDR 3,168 Tn
0.71 0.68 0.69 0.56 apps users cash management Management
1Q21 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 users +32% YoY
Current Account Saving Account Time Deposits Cost Of Third Party Fund
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Page 27
1H2023 Financial Performance
LCR and NSFR well above regulatory requirement (bank only)
short-term obligations have been well covered..... .... as well as for supporting long-term assets.
250.1%
226.0% 229.0% 230.2%
224.0% 224.2% 219.2% 219.0%
215.3%
203.4% 204.8%
192.0% 195.0% 193.1%
185.0% 188.0% 189.0%
182.0%
164.1%
152.0% 153.0% 151.8% 154.1% 155.1%
145.0% 144.0% 144.8% 145.0% 146.6%
136.0% 140.0%
134.0% 132.0% 134.0% 132.0% 133.4%
126.1% 124.2%
Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
LCR (Liquidity Coverage Ratio) NSFR (Net Stable Funding Ratio)
LDR is also manageable, well within regulatory framework
112.6%
103.9%
101.6%
98.2%
93.9% 92.1%
92.8% 93.2% 92.4% 92.8% 91.9% 94.1%
92.3% 85.3% 92.3%
91.6% 88.4% 91.2%
96.6% 88.7% 89.7%
88.8% 92.3% 88.1% 87.7%
86.3% 85.1% 85.2% 87.4%
84.2%
88.0% 91.3% 91.4% 91.5% 90.1% 83.1%
79.9%
88.5%
85.2%
88.3% 88.6% 87.8% 87.2% 85.8% 85.4%
89.8% 85.9% 85.1%
87.6% 86.3% 82.0% 82.5%
86.2% 76.9% 77.5% 76.9%
80.9%
Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
IDR FX Total
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 26
Page 28
1H2023
Asset
Quality
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 27
Page 29
1H2023 Asset Quality
Improving risk profile of covid restructured book (bank only)
ASSIGNED LOAN LOSS RESERVE – COVID RESTRUCTURED LOAN
COVID RESTRUCTURED LOAN (IDR Tn) %
LOAN
SEGMENT
JUN-23 Amount Amount
JUN-22 SEP-22 DEC-22 MAR-23 JUN-23 to LOAN by Stage LLR (%) by Coll LLR (%)
(IDR Tn) (IDR Tn)
Corporate 336,2 28,5 28,3 22,5 21,6 20,3 6.0 Stage 1 15,1 1.8% Current
33,1 26.9%
Medium 100,1 17,3 15,9 13,3 12,0 10,5 10.5 Stage 2 20,4 45.5% SML
5,3 52.3%
Small 94,0 11,6 10,4 9,1 8,0 6,8 7.3 Stage 3 5,0 70.3% NPL
2,2 63.9%
Total 40,6 32.2% Total
Consumer 115,3 5,5 4,9 4,6 4,2 3,0 2.6 40,6 32.2%
TOTAL 645,5 62,9 59,5 49,6 45,8 40,6 6.3
COVID RESTRUCTURED LOAN COMPOSITION BY STAGE (IDR Tn)
22.7% OF THE COVID RESTRUCTURED LOAN ARE ELIGIBLE TO
GET STIMULUS EXTENSION UNTIL 2024
72,1 69,6 62,9 59,5 49,6 45,8 40,6
80,0 00
100 .0%
3.3% 4.4% 5.9% 7.5% 6.4% 9.2% 12.4%
70,0 00
5.9
13.2
80. 0%
31.1% 29.5% 60,0 00
38.9% 47.0%
46.0% 49.1%
50,0 00
Corporate
60. 0% 50.3%
40,0 00
Medium
40. 0%
30,0 00
IDR10,4Tn
65.6% 66.1% 29.2 Small
55.1% 46.5% 46.7%
20,0 00
20. 0%
41.7% 37.3% 10,0 00
51.6 Consumer
0.0 % -
Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Stage 1 Stage 2 Stage 3
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 28
Page 30
1H2023 Asset Quality
Loan at Risk remains low (bank only)
LOAN AT RISK INC COVID (IDR Tn) CURRENT RESTRUCTURED LOAN INCL COVID (IDR Tn)
147,3 143,8 135,7 130,3 121,1 119,4 102,8 102,4 103,8 91,6 91,0 86,9 80,5 73.5 74,0 62,2 57,3 59,9
25.9% 25.2% 23.3% 22.1% 19.6% 19.3% 16.0% 16.3% 16.1% 16.1% 16.0% 14.9% 13.6% 12.0% 12.0% 9.7% 9.1% 9.3%
8.6% 8.6% 8.0% 8.3% 8.4% 7.8% 8.4% 9.2% 8.7% 8.1% 7.9% 7.9% 8.0% 7.6% 6.7% 7.9% 7.4% 6.2%
18.2% 16.7% 15.8% 15.6% 15.5% 14.6% 15.4% 15.8% 15.3% 21.0% 20.1% 19.4% 18.4% 16.3% 18.0% 16.6% 14.6%
23.0%
28.8% 27.5% 27.1% 26.6% 24.6% 26.6% 25.0% 22.2%
32.2% 30.0% 30.5% 29.7% 27.5% 28.1% 29.0% 28.6% 26.6%
31.8%
44.7% 45.7% 46.4% 47.3% 50.0% 49.0% 48.4% 51.4% 50.4% 47.6% 51.0% 57.0%
40.9% 37.1% 43.6% 43.9% 43.5% 45.4%
Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Corporate Medium Small Consumer LaR Corporate Medium Small Consumer LaR
SPECIAL MENTION LOAN (COLL.2) BY SEGMENT (IDR Tn) NON-PERFORMING LOAN (NPL) BY SEGMENT (IDR Tn)
33,3 31,1 27,3 29,4 28.1 26,6 22,6 27,7 28.1 22,4 21,7 21,5 20,5 19,5 18,8 18,0 17,4 15,8
5.9% 5.5% 3.9% 3.8% 3.7% 3.5%
4.7% 5.0% 4.6% 4.4% 4.4% 3.2% 3.0% 2.8% 2.8% 2.5%
4.3%
8.2% 8.4% 6.4% 7.7% 3.5%
11.3% 11.6% 10.4% 10.5% 10.9% 10.4% 10.5% 11.9%
8.9% 9.1% 8.3% 11.1% 10.8% 14.0%
9.5% 7.1% 6.0% 7.9% 8.7% 9.3% 11.0% 11.8%
10.5% 15.1% 13.4% 11.5% 12.4% 14.3% 14.0% 14.3% 14.2%
29.5% 21.5%
32.1% 24.2% 24.3% 22.9% 20.2%
32.3% 24.5% 22.0% 34.0% 37.5% 40.9% 40.0% 36.1% 37.4% 37.8% 35.3%
38.1%
52.4% 58.1% 60.2% 58.1% 57.5% 62.1% 53.8%
50.0% 49.3% 43.2% 38.5% 37.8% 37.7% 38.8% 38.2% 37.4% 38.6%
26.4%
Jun-21 Sep-21 Des-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Jun-21 Sep-21 Des-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Corporate Medium Small Consumer SML Ratio Corporate Medium Small Consumer NPL Ratio
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 29
Page 31
1H2023 Asset Quality
Loan at Risk & Provision Coverage
LOAN QUALITY & RESTRUCTURED LOAN (IDR Tn) – BANK ONLY ASSIGNED LOAN LOSS RESERVE BY COLL & STAGE – %
LOAN PROFILE JUN-22 SEP-22 DEC-22 MAR-23 JUN-23 YoY - % QoQ - %
COLLECTABILITY JUN-22 JUN-23 STAGE JUN-22 JUN-23
Total Loans By Collectability
Current 569,0 573,6 601,9 584,6 601.6 5.7 2.9 Current – Normal 1.5 1.1 Stage 1 0.9 0.7
Special Mention a) 28,1 26,6 22,6 27,7 28,1 0.0 1.5 LaR (Incl Covid) 33.5 41.1
NPL b) 19,5 18,8 18,0 17,4 15,8 -18.7 -9.3 Current Restructured 14.7 24.3 Stage 2 24.9 26.4
Total Loan 616,6 619,0 642,6 629,8 645,5 4.7 2.5 Collectability 2 (SML) 54.1 57.9
Restructured Loan
NPL 79.8 74.7 Stage 3 78.8 76.7
Current 73,5 74,0 62,2 57,3 59.9 -18.5 4.6
All Collectability 8.7 7.6 All Stage 8.7 7.6
Covid c) 52,5 49,4 42,6 38,7 33.1 -36.9 -14.5
Non Covid d) 21,0 24,6 19,6 18,6 26.8 27.6 44.3
NPL & LAR COVERAGE RATIO
Special Mention 24,7 22,6 19,1 21,3 22.8 -7.7 7.1
NPL 10,4 10,5 10,1 8,7 7.4 -28.7 -14.1
42.3% 42.7% 48.8% 48.9% 47.1%
32.9% 34.3% 37.0% 39.3%
Total Restructured Loan 108,6 107,1 91,4 87,2 90.1 -17.0 3.3
Total LAR (incl. Covid Restru)
e)
121,1 119,4 102,8 102,4 103.8 -14.2 1.4
308.8%
e) = ( a + b + c + d) 226.8% 233.4% 250.1% 263.3% 270.8% 278.3% 286.8%
215.3%
LAR from Covid 62,9 59,5 49,6 45,8 40.6 -35.5 -11.4
Jun-21 Sep-21 Des-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
LAR from BAU 58,2 59,9 53,3 56,6 63,2 -6.9 6.2
NPL Coverage Ratio LAR Coverage Incl Covid
LAR Ratio
19.6 19.3 16.0 16.3 16.1% -3.5% -0.2%
(incl. Covid Restru) - %
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 30
Page 32
1H2023 Asset Quality
SML, NPL, Write Off & Recovery
WRITE OFF & RECOVERY – BANK ONLY
SPECIAL MENTION LOAN BY SEGMENT – BANK ONLY
41.5% 43.1%
SEGMENT DEC-21 MAR-22 JUN-22 SEP-22 DEC-22 MAR-23 JUN-23 35.8%
32.8% 33.3% 34.3%
10,884 27.6%
9,770 9,506 3,898
Corporate 5.5% 6.0% 5.2% 4.9% 4.3% 4.3% 4.5% 20.1% 8,628
2,963
3,114
5,879 1,956 6,680
1,846
Medium 8.3% 7.3% 6.8% 6.0% 4.3% 6.7% 6.2% 1,138 1,165
2,741 2,702
1,966
Small 1.7% 2.4% 2.5% 2.8% 2.1% 4.3% 4.0%
2020 2021 1Q-22 1H-22 9M-22 2022 1Q-23 1H-23
Consumer 1.8% 2.2% 2.4% 2.3% 1.7% 2.7% 2.6% Write Off (Rp Bn) Recovery (Rp Bn) Recov. to Write Off Ratio
Total SML- % 4.7% 5.0% 4.6% 4.3% 3.5% 4.4% 4.4% WRITE OFF & RECOVERY BY SEGMENT –BANK ONLY
WRITE OFF (IDR Bn)
Total SML- IDR YEAR
27,302 29,352 28,136 26,589 22,606 27,702 28,130 CORP MEDIUM SMALL CONS TOTAL
Bn
2021 3,516 2,277 2,004 1,709 9,506
NON-PERFORMING LOAN BY SEGMENT – BANK ONLY 1Q-22 454 1,399 550 338 2,741
1H-22 743 3,372 1,069 695 5,879
SEGMENT DEC-21 MAR-22 JUN-22 SEP-22 DEC-22 MAR-23 JUN-23 9M-22 1,115 4,185 2,104 1,224 8,628
2022 1,122 4,972 3,116 1,674 10,884
Corporate 2.8% 2.6% 2.4% 2.3% 2.1% 2.1% 1.2% 1Q-23 - 1,108 1,271 322 2,702
1H-23 1,240 2,214 2,272 954 6,680
Medium 8.9% 8.4% 7.0% 6.9% 6.4% 6.0% 6.0%
RECOVERY (IDR Bn)
YEAR
Small 2.5% 2.5% 2.8% 2.6% 2.5% 2.6% 3.6% CORP MEDIUM SMALL CONS TOTAL
2021 572 635 1,266 641 3,114
Consumer 2.3% 2.1% 2.1% 1.9% 1.7% 1.8% 1.9%
1Q-22 561 136 299 142 1,138
Total NPL- % 3.7% 3.5% 3.2% 3.0% 2.8% 2.8% 2.5% 1H-22 667 345 561 383 1,956
9M-22 873 558 890 643 2,963
Total NPL- IDR
21,516 20,456 19,467 18,836 18,031 17,449 15,820 2022 1,107 786 1,165 841 3,898
Bn
1Q-23 501 231 270 163 1,165
1H-23 656 449 397 344 1,846
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 31
Page 33
1H2023
Post-1H
Guidance
Review
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 32
Page 34
1H2023 Management Highlight
Post-1H Guidance review
Initial FY23 Guidance 1H23 Realization New Guidance
Loan Growth
(% YoY) 7.0 - 9.0% 4.9% 7.0 - 9.0%
Net Interest ≥ 4.6%
Margin ≥ 4.7% 4.58%
Credit Cost < 1.5% 1.4% < 1.5%
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 33
Page 35
1H2023
Digital
Initiatives
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 34
Page 36
1H2023 Digital Initiatives
We’re triumphing on every customer touch points
Instead of focusing on a particular product, BNI believes in empowering digital solutions for every needs
BNI Mobile Banking Merchant & QRIS
Banking solutions on the palm of your hand
IDR 544 Tn Transactions in 1H23, surprassed ATM’s QRIS is enabling digital transaction
Dominant Banking Channel for Customers for MSME Merchants.
Many new features to satisfy all banking needs. Empowering more than 180.000 Merchants with
simple and low-cost QRIS solutions
Lifestyle Investment
IDR 40 Tn EDC Transactions in 1H23
Digital Loan Int’l Remittance
FX - Trx Diaspora Digital Opening Account
E-Channels Open Banking Ecosystem
Unlocking the potential with BNI Open API
Supporting channels for various situations
280 API Services (Approved by regulator)
ATM 13,390 ATMs, IDR 321 Tn Trx Volume Utilized by 4.000 + Partners
Best in Class open banking ecosystem
Internet Banking 2.2 Mn Users, IDR 15,6 Tn Trx Volume
SMS Banking 12.7 Mn Users, IDR 9,4 Tn Trx Volume
+173.766 Agen46 Agents TapCash
Branchless banking to tap the unbanked segments Riding the “cashless transaction” waves
IDR 28,4 Tn Trx Volume BNI Direct Empowering cashless transactions
Enabling payment services (Tax, Billing, etc.) in transportation, F&B, Minimarket
A reliable channel to make transactions anytime, anywhere
and other sectors.
Consumer and KUR Loan Referrals
Solid Digital Solutions for Business Banking 10,8 Mn card in circulation
Saving account Referrals (Laku Pandai)
Clients with IDR 3.168 Tn Trx Value IDR 1,07 Tn sales volume in 1H23
Money Transfer, Cash withdrawal services
Covering all client needs in one Integrated Portal:
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 35
Page 37
1H2023 Digital Initiatives
Poised to be the main banking channel for customers
# REGISTERED USERS TRANSACTION
(in Mn) FREQUENCY (in Mn)
The 1st overall E-Banking Best Product and Business
and 1st Phone Banking in Model of BNI Mobile
the National Banking
Industry
Banking Innovation
23.3 % 71.1 %
YoY YoY
MOBILE APPS TRANSACTION VALUE HAS SURPASSED ATM’S
Quarterly Transaction Value (Rp. Tn)
462
14.9
12.1 270
288 9.3 204
218 219 216 209 255
200 206
188 192 190 196 234
174 174 178 211
163 Jun-21 Jun-22 Jun-23 Jun-21 Jun-22 Jun-23
131 138 149 174 165
167
117 193
103 114 175 154
88 160 168
61 69
56
AVERAGE DAILY MOBILE
TRANSACTION
BANKING TRANSACTION
VALUE (in IDR Tn) FREQUENCY (in Mn)
1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23
ATM Mobile Banking 52.1 % 71.0 %
YoY YoY
a fresh new look launched
in July 2023 BEST-IN-CLASS MOBILE BANKING APP LEADS TO MORE STICKY USERS
# of Transaction per Avg. Transaction Retention Rate (%)** 544
App Store Google Play Active user per Month Value (Rp. Mn)
2.56
Ratings* Ratings* 287 358 1.50
1.13
4,7/5,0 4,6/5,0 17.4 90.0 91.0 Jun-21 Jun-22 Jun-23 Jun-21 Jun-22 Jun-23
12.2
1.18
Jun-22 Jun-23 Jun-22 Jun-23 BNI Mobile Banking usage is growing significantly, both from Amount
*Data as of 30 June 2023 of Registered users and Transaction Frequency.
**% of users who return to perform' transactions from the previous month
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 36
Page 38
1H2023 Digital Initiatives
BNI Mobile Banking Super Apps Ecosystem
We are accelerating digital services beyond transactions
Through BNI Mobile Banking, we continue to expand our services leveraging our ecosystems (BNI Group,
One Stop Comprehensive
Financial Solutions for Retailers, and Global Partners), to respond (to each) customer demands in this modern digital banking era. We
Everyday Needs aim to help customers progress from only conducting basic transactions to achieving their financial goals.
with more than 6.500 Billers
ALL IN ONE DIGITAL WEALTH MANAGEMENT DIGITAL LIFESTYLE
Student Harbor Pension
Insurance
Payment Payment Saving
Railink
LPG Water Utility
Voucher Voucher eVoucher Phone & Data
Mutual Saving Bond Gold Savings*
Train Electricity
Games Streaming Package
Funds Retail & Secondary
Bond
Migrant Hajj Airplane
Tax
Workers Savings Agent
Leading Leading Prominent Online
Transport Company Flight Operator Travel Company
Samsat Booking Booking Booking
eWallet
Police
Telco Mobile Data FX Transactions Investment BNI BNI Asset BNI Life
Taxi Airlines Hotel
and Remittance Portfolio Sekuritas Management
* * *
Transfer
Internet State Multifinance …. Etc.
Subscription Revenue
DIGITAL LOAN & CREDIT CARD PERSONAL FINANCIAL MANAGEMENT
Value Added Services
My Credit Consumer Credit Digital Meterai Life Goals Spending Budgeting Consolidated
Card Loan Scoring
* Signature
* Electronic
* Tracking *
* Statement
Auto Debit Digital Gift for Digital Invoice Debit Online
for Recurring Special Moment for Individual for Global
Transaction SME Transaction
IT’S ALL ABOUT EXPERIENCE & ENGAGEMENT BRANCH ACTIVITIES
International Time Deposit Remittance Cardless
Diaspora Transfer Transaction
Opening Account
Deeper Secure, Robust Fast Integration Human
Analysis Resilient, Business with Open Centric Update Customer Debit Card Request Branch Online
Customer Reliable Process Design Data & Delivery Queuing
Providing services beyond transactions Behavior
Ecosystem
* *
*Coming Soon
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 37
Page 39
1H2023 Digital Initiatives
Branchless Banking
EMPOWERING AGENTS WITH > 7.5K AGENTS ARE LOCATED IN FRONTIER,
SOLID CONTRIBUTION TO FINANCIAL INCLUSION
POWERFUL MOBILE AGENT APP REMOTE AND DISADVANTAGED AREAS
4.9k
173K +7,9% yoy
1.1k
Agents 1.5k
Spread Across:
CHARGEABLE TRANSACTIONS AT AGENTS
6 Thousand 34 Thousand CONTINUES TO INCREASE AS LITERACY IMPROVES
Districts Villages
45%
INCLUSIVE SERVICES 32%
• Online Account Opening • Cash Withdrawal and Deposit • Government Subsidy 14% 12% 14%
• Money Transfer • Tax and Bill Payment • KUR Loan referrals
2019 2020 2021 2022 1H23
BNI AGEN46 IMPROVES THE QUALITY OF % chargeable transaction to total transaction in Agen46
User Plenty Bill payment LIFE AND PRODUCTIVITY OF MSMES
Friendly Services
TRANSACTIONS AT AGEN46 BY TYPE
More Additional Financial Grocery store, bundled with all-in-one
Features, Promo Report financial services of Agen46 16% Cash Withdrawal
& Information Transaction
Phone Billing
• Increase Customer Traffic 9%
37,6 Million
Linked to BNI Online Account • Commission-based income for (Trx in 1H2023) Interbank Transfer
54%
Digital Loan e-Form Opening, Cash facilitated transactions
Others (Incl Cash Deposit, Top
(KUR Mikro) Withdrawal & 21% Up E-wallet)
Deposit
Realtime Sharing Fee for Agents
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 38
Page 40
1H2023 Digital Initiatives
Harnessing the power of open banking
BNI OPEN API
digitalservices.bni.co.id
BNI API 280 services (approved by
Utilized by
regulator), the most compared to Recognized Globally
4.000++ partners
peers
WE OPTIMIZE ALL THREE POSSIBLE ROLES IN EVERY ECOSYSTEM OPTIMIZING API TO BNI’S CORE
OPERATIONAL
Presenting comprehensive Using partner’s platform as a Provides services to Digitized stamp for contract Quick & Simple fund
offer of the ecosystem channel to sell bank’s partners so they can documents valued more transfer API provided by
through a platform products potentiate their products than IDR 5 Million Bank Indonesia
Providing integrated holistic Partner with e-commerce, Customize bundled solutions
lifestyle companies to sell Smart & secure contract BNI is one of 20 BI Fast
solutions, such as government, into new products in
funding and lending products stamps to prevent fraud Sponsor Bank
education, health, commerce collaboration with partners
POWERED BY* : POWERED BY :
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 39
Page 41
1H2023 Digital Initiatives
Solid Digital Solutions for Business Banking Clients
#USER (in 000)
Ample room for growth 13.5%
BNIDIRECT WEB & MOBILE API SERVICES
YoY
▪ Strong penetration rate in Corporate clients:
72% of total transaction value comes from 138.6
Corporate Clients
122.1
▪ Corporate Clients’ transaction value increased by
Jun-22 Jun-23
38% YoY
TRANSACTION VALUE (in Rp Tn)
31.5%
Various digital channels to help YoY
customers make transactions
whenever, wherever 2,410
3,168
1H-22 1H-23
FINANCIAL SUPPLY
ONLINE BANK GUARANTEE CHAIN MANAGEMENT
#TRANSACTION (in Mn)
Payment Value Chain
Management Management 12%
YoY
Collection Open Banking
Management Solution
384
Liquidity 343
Management
1H-22 1H-23
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 40
Page 42
1H2023 Digital Initiatives
Spur Innovation for the clients’ convenience #USER (in 000)
Comprehensive digital solutions Recently launched in 2022
Online Account Opening
Transfer E-Payroll Billing Opening of BNI’s Current Account
E-Tax
Management Payment digitally
Providing exceptional new
features for business banking Giro Multi Currency
Liquidity BNI Trade Information Virtual Account
clients’ comfort Management Online Management Management
Multiple currencies within one current
account
BNIDirect KCLN
BNI POPS SCPay Pension Fund Report Making transactions using BNIDirect,
anywhere in the world
In making transactions
…. Etc.
Mass Payment Request Financial Supply
Financing Chain Management Upcoming Capabilities
Leading features of BNIDirect
Single sign on Financial dashboard Online onboarding
Collection Management
Collecting payments from clients/buyers
through a pooling account
e-FX e-Tax Investment Chatbot Lite Version
Forex transactions Tax payments
made easier
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 41
Page 43
1H2023 Digital Initiatives
Reliable transaction solution leads to a sticky relationship
218 205 209
206 199 204 206
190 191 194
181
62.9% 64.0% 65.4%
59.2% 60.9%
Mobile Banking 50.4% 52.7% 55.6% 57.3%
47.4%
user savings balances continue 44.6%
137 131 137
115 114 121 125
to increase (reaching 65.4% of 85 86 96 102
total retail savings)
Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun
2020 2021 2022 2023
Total Balance of retail savings (RpTn) Mbank users' savings balance (RpTn) Contribution from Mbank users
284 289
275
254 247 248
211 215 221
204
1.90% 205
Cash Management 1.80% 1.78%
client’s average CA balance 1.38% 1.38% 1.41%
1.33% 1.30% 1.35% 1.37%
continue to increase, leading 1.28%
to a favorable Cost of Fund
176 188 196 201 197 228 227 232 248 255 264
Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun
2020 2021 2022 2023
Average Total Current Account (CA) Balance (RpTn) Contribution from Cash Management Current Acc CoF YTD
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 42
Page 44
1H2023
Business and
Consumer
Banking
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 43
Page 45
1H2023 Business & Consumer Banking
High quality growth on business banking
GROWTH (%) COMP NPL (%)
BUSINESS BANKING (IDR Tn) JUN-22 SEP-22 DEC-22 MAR-23 JUN-23
QoQ YoY (%) JUN-22 SEP-22 DEC-22 MAR-23 JUN-23
Manufacturing 129.8 127.3 138.7 137.5 132.9 -3.3 2.3 25.1 4.6 4.8 4.1 4.2 2.2
Trading, Resto & Hotel 110.3 105.9 107.6 102.8 103.2 0.5 -6.4 19.5 5.7 5.2 4.9 5.0 5.1
Agriculture 59.5 57.4 54.3 54.6 53.6 -1.8 -9.8 10.1 1.3 1.3 1.9 1.1 1.4
Business Services 42.5 43.2 45.5 45.9 45.5 -0.8 7.2 8.6 2.7 2.7 2.3 2.4 2.8
Infrastructure 54.0 54.5 54.5 54.9 57.3 4.4 6.0 10.8 2.9 3.1 2.9 2.0 2.5
Transport, Warehouse & Communications 45.4 44.3 43.3 41.6 48.5 16.6 7.0 9.2 1.1 1.9 2.2 2.2 1.3
Social Services 21.7 22.1 23.4 17.0 22.4 32.2 3.3 4.2 1.1 1.2 1.1 0.8 2.0
Natural Resources 24.6 31.6 39.4 37.4 38.9 4.0 58.3 7.4 2.4 1.4 1.2 1.2 1.3
Electricity, Gas & Water 22.4 21.9 22.1 21.3 22.1 4.1 -1.1 4.2 1.1 1.1 1.1 1.0 1.1
Others 2.2 3.7 3.4 3.0 3.9 29.5 77.6 0.7 0.8 0.6 0.8 0.8 1.3
TOTAL 512.3 511.9 532.2 515.8 528.5 2.4 3.2 100 3.4 3.3 3.1 3.0 2.6
MANUFACTURE TRADING, RESTAURANT & HOTEL NATURAL RESOURCES
140
138.7 137.5 20.0%
19.5%
15.0%
14.5%
110.3
14.0%
100
19.0%
112 20.0%
13.5%
18.5%
19.5%
132.9
18.0% 13.0%
19.0%
17.5%
18.5% 12.5%
17.0% 18.0%
135
12.0%
16.5% 110
17.5%
129.8
16.0%
15.5%
15.0%
14.5%
108
107.6 17.0%
16.5%
16.0%
15.5%
80
11.5%
11.0%
10.5%
15.0% 10.0%
14.0%
130 14.5%
13.5% 9.5%
14.0%
13.0%
13.5% 9.0%
12.5%
13.0%
106 8.5%
12.0%
122.4
60
12.5%
103.2
11.5% 8.0%
12.0%
102.8 39.4
11.0%
38.9
11.5% 7.5%
37.4
125 10.5%
101.7 5.1%
11.0%
7.0%
10.0%
104 10.5%
24.6
9.5% 6.5%
10.0%
9.0% 9.5% 6.0%
8.5% 9.0%
40 5.5%
8.0% 8.5%
102
7.5% 8.0% 5.0%
120
7.0% 7.5%
4.5%
6.5%
5.7%
7.0%
6.5%
2.4% 4.0%
7.0%
6.0%
14.7
6.0% 3.5%
5.5% 100
5.0%
5.0% 5.1%
5.5%
5.0% 20
1.2% 1.2% 1.3% 3.0%
5.2% 4.2%
4.5%
4.6%
4.5% 2.5%
115
4.1%
4.0%
2.2%
3.5%
3.0%
2.5%
98
4.9% 4.0%
3.5%
3.0%
2.5%
2.0%
1.5%
1.0%
2.0% 2.0%
0.5%
1.5% 1.5%
110 1.0% 96 1.0% 0 0.0%
Dec-21 Jun-22 Dec-22 Mar-23 Jun-23 Dec-21 Jun-22 Dec-22 Mar-23 Jun-23 Dec-21 Jun-22 Dec-22 Mar-23 Jun-23
Amount NPL
Amount NPL Amount NPL
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 44
Page 46
1H2023 Business & Consumer Banking
Consumer Business NPL MOVEMENT - %
NPL % 3.7 3.6 3.7 3.6
Growth Compo-
Product (IDR Bn) Dec-21 Jun-22 Dec-22 Jun-23 3.1 3.2
YoY % sition % Jun-22 Jun-23 3.0 2.9 2.9
2.8
2.6 2.6 2.6
2.6 2.3 2.2 2.2
Mortgage 49.6 51.2 53.5 55.3 7.9 47.5 2.9 2.9 2.2
1.7 1.7 1.6 1.7 1.7
Personal Loan 35.8 39.1 43.1 46.0 17.6 39.5 1.1 0.8 1.7 1.5 1.6 1.6
1.4 1.5 1.5 1.5
Credit Card 11.9 12.0 12.3 13.1 9.0 11.3 1.7 1.7 1.1 1.1 1.1 1.0 0.8
0.1 0.1 0.1 0.7
0.1 0.1 0.7 0.5
Others 1.7 1.8 1.2 2.0 12.4 1.7 1.5 1.2 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Total 99.0 104.2 110.1 116.4 11.7 100.0 2.1 1.9 Mortgage Payroll Loan Credit Card Others
AMPLE ROOM FOR GROWTH FOR PERSONAL LOAN
PERSONAL LOAN DEBTORS COMPOSITION JUN-23
3,796 3,763 3,705 3,619
3,392 3,426
2,724 12.0% 4.7%
2,302
1,894 295 299 26.3%
261 269 281 289
234 11.4%
185
130
IDR 46.0 Bn
2016 2017 2018 2019 2020 2021 1H22 2022 1H23
45.7%
Number of Payroll Account [Thousand] Number of Payroll Loan Account [Thousand]
.. Personal loan as main driver of growth focused on selected institutions Government Related SOE Private Companies Universities Other
based on the captive market ..
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 45
Page 47
1H2023 Business & Consumer Banking
Well-established brand and strong consumer banking franchise
MARKET SHARE IN KEY PRODUCTS
Mortgages Personal Loan Credit Card
8.6% 12.5% 15.0%
TOP-3 TOP-4 TOP-3
Extensive Lifetime Banking Partner Advisory & IT & digitalization
Domestic Network Proposition proximity
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 46
Page 48
1H2023
ESG
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 47
Page 49
1H2023 ESG
Best In Class ESG
Five Pillars of Sustainability, Aligning Business to UN SDGs First Mover and continue to be at the forefront of affecting sustainable finance
BNI FOR INDONESIA
▪ Strengthening ESG Governance by establishing an ESG
Environmental preservation, BNI is making Committee and dedicated ESG Work Unit
improvement of social welfare, and good progress ▪ MSCI ESG rating increased to “A” since November 2021
community economic empowerment on its ESG ▪ Adapting International ESG Reporting Standards
ambition ▪ Won Gold Rank, Asia Sustainability Reporting Rating 2022 by
National Center for Sustainability Reporting (NCSR)
BNI FOR CUSTOMERS
Establishing partnerships with customers
while paying attention to ESG
▪ Responsible financing to sustainable business activities
including green portfolio amounted to Rp179.4 Tn or 28.5% of
BNI FOR THE ENVIRONMENT We support total loan
Reduce environmental impact and embrace solutions to ▪ Conducting GHG Emission Calculation
green business opportunities
address climate ▪ Pioneer in the banking industry in Promoting Electric Vehicles
change and its ecosystem
▪ Specialized desk for sustainable finance in Corporate Segment
▪ Green Office Culture (BNI Go Green)
BNI FOR THE COMMUNITY
Community Empowerment ▪ Respectable Good Corporate Governance practices
▪ Constituent of Indonesia ESG Leader Index
Responsible ▪ Fair operating, human rights, and labor practices
Business ▪ High standard of customer data privacy and security protection
Operations to promote customers’ trust
BNI FOR EMPLOYEES
▪ Zero tolerance for fraud and financial crimes
Providing the best conditions for employees
as a place of pride for work and ▪ Effective CSR Program
accomplishment.
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 48
Page 50
1H2023 ESG
BNI ESG Framework
Environment Social
➢ Adoption of TCFD (Task Force on
Climate-Related Financial Disclosure) S ➢ Increasing employee engagement
guidelines for climate risk management.
➢ Employee capability enhancement
➢ Achieving Operation NZE (Net Zero
Emission) by 2030 ➢ Strengthening customer data and
financial protection
➢ Governance reinforcement in ESG loans ESG
Framework
➢ Increasing employee’s awareness &
Governance
E
capabilities
G
➢ Sharpening ESG disclosure ➢ Increasing diversity in Board level
➢ Strengthening Board’s
engagement on ESG
Short term focus Medium term focus Long term focus
• Strengthening infrastructure • Strengthening debtors’ Risk Acceptance Criteria (RAC) Implementation of climate
• Establishing Net Zero Emission • Strengthening infrastructure for climate change risk change risk management in
roadmap and Carbon Budget management bank operations
• strengthening Board’s engagement on ESG
• Optimizing data loss prevention
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 49
Page 51
1H2023 Management Highlight
Use of proceeds of 2022 Green Bond issuances
HIGHLIGHT OF THE ISSUANCE GREEN BOND FRAMEWORK USE OF PROCEED
Proceeds will be used exclusively to finance/refinance
Issued Date 21 June 2022 assets directly related to "Eligible Green Projects" in 77%
accordance with the Green Bond Principles (related to
10 categories of green investment): 77% of proceeds have
Amount IDR 5.0 Tn
been disbursed according
Renewable Sustainable to green bond project
Energy Transportation
Id(AAA) from selection criteria and BNI
Rating Energy Efficiency Climate Change ESG Committee review.
Pefindo Adaptation
Waste to Energy and Sustainable Water
Waste Management and Wastewater
GREEN BOND INVESTORS BY CATEGORY Management 1%
Sectorial distribution of
Tenure : 3 years Tenure : 5 years Sustainable Natural Sustainable 15% the proceeds
Resources and Land Agriculture
5%
Use 62%
5% Sustainable Transportation
Terrestrial and Aquatic Green Buildings
Biodiversity Conservation 11% Green Building
Series A Series B Renewable Energy
52% 48% SUSTAINALYTICS OPINION ON
Rp4.0 Tn Rp1.0 Tn
43% 47% GREEN BOND FRAMEWORK Waste to energy and
10% waste management
“BNI is adequately positioned to issue green bonds and
that the Framework is robust, transparent, and in Sustainable Natural
alignment with the four core components of the Green Resources and Land Use
Bank Non Bank Retail Bond Principles 2021”
Source: BNI Green Bond Report 2023
https://www.bni.co.id/Portals/1/BNI/Perusahaan/ESG/Docs/BNI-Green-Bond-Report-2023.pdf
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 50
Page 52
1H2023 Management Highlight
Environmental & social impacts of eligible assets financed by the issued Green Bonds
Categories Projects Environmental Impact Alignment with SDGs
Solar Power Plant
Mini-Hydro Power Plants
(MHPP)
Biogas Power Plants
The Jabodebek electric powered
Light Rail Transit (LRT)
Commercial & Office Building with
Gold Rating certificate from the
Green Building Council Indonesia
(GBCI)
Waste to energy and Various projects on paper, plastic,
metal ash, aluminum, and waste
waste Management
recycle
Sustainable Natural Forest Concession Projects
Resources & Land Use
Source: BNI Green Bond Report 2023
PT BANK NEGARA INDONESIA (PERSERO) TBK. https://www.bni.co.id/Portals/1/BNI/Perusahaan/ESG/Docs/BNI-Green-Bond-Report-2023.pdf PAGE 51
Page 53
1H2023 ESG
Promoting Sustainability Linked Loan (SLL) On Top of Sustainable Portfolio
SUSTAINABLE PORTFOLIO IDR175.9 Tn OR 27.2% OF TOTAL LOAN (BANK ONLY) We continue to push ourselves in global sustainability
agenda by introducing Sustainability Linked Loan (SLL)
Socioeconomic Advancement
Pollution Prevention
and Empowerment total loan disbursed Sustainability Performance
Economic sector of
the debtor under the SLL Targets (SPT)
Through
118.9 Tn
scheme
2.9 Tn
financing and
Rp empowerment Rp
of micro and
SME. Poultry & Agri- Minimizing the
Food impact
Manufacture of water pollution.
Environmentally
EnvironmentallySustainable
sustainable Others
Management of Living
management of living Natural
natural (Sustainable water and
Resources
resources and landUse
and Land use wastewater management, etc.)
~ USD
48% of our palm oil Cement Achieving specific
25.5 Tn
326 mio
18.9 Tn
borrowers in
corporate segment Rp Manufacture CO2 emissions.
Rp
are already in total
ISPO/RSPO
certified
Improvement of ESG
Steel
scoring on annual
Renewable Energy Manufacture
basis
9.7 Tn
Financing to hydro,
Rp solar & biogas ▪ Sustainability-linked loans (SLL) are starting to gain more interest
power plant
▪ SLL encourages borrowers to achieve ambitious Sustainability Performance
Targets (SPT)
* sustainable portfolio is loan to business sectors that meet the requirements of The Sustainable
Business Activities Category (KKUB) of OJK
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 52
Page 54
1H2023 ESG
Sector Guides of Responsible Financing
BNI CREDIT POLICY AGRICULTURE – PALM OIL COAL
NO EXPOSURE IN The palm oil sector guide applies to all palm oil plantations, crude The coal financing guide applies to coal mining and its supporting
palm oil mills, palm oil refiners, and traders business (trader and heavy equipment suppliers)
Prohibited by the We require customers to demonstrate alignment with No Deforestation policies
government Financing to coal mining is strictly for Top Tier Corporates
with good ESG practices
Illegal logging Obligations to fulfill a mandatory business permits: Plantation Business Permit (IUP),
Cultivation Business License (IUP-B), Plantation Business Registration (IUP-P), Plantation Legal requirement for the debtor’s business to have an
Forced labor, child Business Registration (SPUP) Environmental Impact Analysis (AMDAL)
exploitation, human
rights violation
We require new palm oil debtors to have RSPO or ISPO, and request customers to Debtors have at least a Blue PROPER (Environmental
achieve full RSPO certification within a timeframe in order to expand their target market. Performance Rating) from the Ministry of Environment Life
Violating the rights
and Forestry
of local community
For Medium segment, requirement for ISPO is applied as affirmative covenant. the Debtors agree to comply with the loan agreement clause
Destroying world
fulfilment of which will be monitored regularly by RM and become subject to periodic that they will comply with all applicable environmental
heritage sites
internal audit regulations and required documentations. The failure to
satisfy it will impact loan continuity
Narcotics productions
& trading
% COAL TO TOTAL LOAN COAL LOAN BREAKDOWN
% PALM OIL TO TOTAL LOAN % PALM OIL CORPORATE CLIENTS (BANK ONLY)
PALM OIL LOAN BREAKDOWN
Weapons (BANK ONLY) WITH RSPO AND/ OR ISPO 0.1%
1.7% 3.1% 13.3%
Gambling 14.3
8.2% % 3.9%
& money laundering
Politically 44%
Exposed Person 56%
(PEP)
82.6
84.0 96.9% %
Trading protected 91.8 %
animals %
Coal Trading Equipment Briquette
Coal others Mining Suppliers Industry
Palm Oil Plantation Refinery & Palm Oil Mill Trading RSPO and/ In the certification
or ISPO process
Certified
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 53
Page 55
1H2023 ESG
Best-in-class governance is a corporate priority
Top Management Good Corporate Governance Practices
The Board of Commissioners Protection of minority
7 out of 10 are independent
One share, one vote shareholders and
commissioners initiatives to foster their
involvement
Audit Risk Monitoring
Committee Committee
All Committees under BOC are
Nomination & Integrated chaired by an independent Predicate as a “Leadership
Remuneration Governance commissioner ISO 37001:2016
Committee Committee in Corporate Governance”
Concerning Anti Bribery Based on the 2022 ASEAN Corporate
Management System Governance Scorecard (ACGS) standard from
The Board of Directors All BOD members are the Indonesia Institute for Corporate Directorship
independent from the controlling (IICD), improved from “Very Good”
shareholder
BNI fosters and supports the principles of diversity, equality and
non-discrimination
25% (3 out of 12) BOD
BNI Code of Ethics Whistleblowing System
are female Annual Declaration
Training/Socialization
distribution by age by
17% 50% 33%
2023
<50 years old 50 - 55 >55 years old
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 54
Page 56
1H2023 ESG
Embodying Sustainability Culture
EMPLOYEE DIVERSITY PRODUCT/SERVICES WITH ENVIRONMENTAL IMPACT
3,243 units of ATM BNI Pandai
Women Men for Disabilities Basic Saving account
Gender
52% 48% Equipped with voice services bundled with card for
to help people with visual and receiving social
physical disabilities assistance from the
government.
25-29 35-40 >50
22% 17% 9%
BNI WWF Affinity Card KUR TANI
Cardholders can participate in Loan to farmers to
funding conservation activities improve their income
Age through a sharing fee of 0.4% and welfare.
from each retail transaction.
<25 30-34 41-50
3% 25% 22%
GREEN OFFICE CULTURE
▪ Green Building Certification by the Green Building
EMPOWERING WOMEN IN TOP MANAGEMENT Council Indonesia (GBCI) with Gold Certification for
Menara BNI and Platinum Certification for Plaza BNI
▪ Wastewater management systems in 2 HQ buildings
(Menara BNI & Plaza BNI) equivalent to 40% of its
Women Men
Gender total yearly water consumption
31% 69%
▪ Adopting a paperless office administration system
(E-Office)
Note:
1. Top Management defines as AVP, VP, SVP, EVP, and SEVP Level
2. All figures stated as of June 2023 with the total number of full-time employees: 26.934
3. The recruitment, compensation, and career advancement policies of the bank make
▪ Green campaign through various media
no distinctions based on ethnicity, religion, race, gender, or physical disability.
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 55
Page 57
1H2023 ESG
BNI Cybersecurity Framework
People Process Technology
Security Policy Security Assessment Cybersecurity & Data Protections
Strong cyber security policy and data • Self-assessment by security and risk team
Multi-layer security on the infrastructure and
classification implementation. • Cyber security & IT Maturity Assessment, network (firewall, IPS, WAF, Database
Security Awareness • Third party risk assessment Monitoring, multisite datacenter, DRC),
• Penetration testing on every application Application (Multi-factor Authentication,
• Employees : Anti-phishing awareness,
change Encryption, Secure software development life
Secure coding awareness, strong password,
end-point security. Media : Online learning • Annual and ad-hoc penetration testing for the cycle, Mobile Application protection), end-point
and test, certification, podcast, email blast, critical/transactional application. protection (DLP, Antivirus, USB Port blocking,
training. Cybersecurity Operation & Threat etc) and secure data transmission mechanism
Management (GFX, Secure File Transfer Protocol (SFTP),
• Customers : Anti-phishing awareness,
24x7 monitoring of the cyber security perimeter Virtual Private Network (VPN), Hypertext
secure banking transaction. Media : Website,
by a dedicated SOC team using a cybersecurity Transfer Protocol Secure (HTTPs) to protect
social media, SMS & Email.
dashboard. the customer data from cyber threat.
Attack Simulation
Attack Simulation User Access Management
BNI employees actively participated in anti-
Anti-phishing and malware simulations were
phishing and malware simulations. Identity access management (IAM), Single-sign
used to assess employee awareness.
on (SSO), Privileged access management
Cybersecurity Staff
Threat Intelligence (PAM), Active directory for end-point.
Dedicated Cybersecurity Personnel.
Actively collect the most up-to-date information
regarding the threat, malware, attack techniques,
and vulnerability in order to create a protection
strategy and implement the countermeasure
sooner.
Strategic Partner Standard & Best Practice
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 56
Page 58
1H2023 ESG
External Recognition of Our Best-in-ClassCSE,
ESGERMPractices
MSCI ESG RATING SUSTAINALYTICS MSCI Indonesia SUSTAINALYTICS
ESG Leaders Index
MSCI A MSCI TOP
ESG Risk Rating
25.7 Medium
Ranking
INDUSTRY GROUP
404 out of 1001
3
Banks
Risk
ESG RATINGS Indonesia Negl. Low Med. High Severe
UNIVERSE
ESG Leaders Index 0-10 10-20 20-30 30-40 40+
Global Universe 7,337 out of 15,530
CCC B BB BBB A AA AAA
Last Update:
Last Update: 31 March 2022 Last Update:
16 May 2023 10 Feb 2023
https://www.msci.com/documents/10199/7502530d-0197-4e45-a6f9-290c1e8b2695
SRI (KEHATI) INDEX IDX ESG LEADER INDEX CORPORATE GOVERNANCE PERCEPTION THE 13TH IICD CORPORATE
Constituent of Sustainable Investment 1 of 30 Public Company Listed INDEX (CGPI) AWARD 2022 GOVERNANCE AWARD 2021
INDONESIAN
BIODIVERSITY IDX ESG star-listed companies:
FOUNDATION https://esg.idx.co.id/
Period: Period: The Best State-Owned Enterprise
The Most Trusted Company Leadership in Corporate Governance*
Dec 2022 – May 2023 15 Mar 2023 – 19 Sep 2023
20 December 2022 27 May 2022
* Based on the 2022 ASEAN Corporate Governance Scorecard (ACGS)
PT BANK NEGARA INDONESIA (PERSERO) TBK. standard from the Indonesia Institute for Corporate Directorship (IICD) P A G E 57
Page 59
1H2023
About
BNI
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 58
Page 60
1H2023 About BNI
Board of Director
ROYKE TUMILAAR – PRESIDENT DIRECTOR ADI SULISTYOWATI – VICE PRESIDENT DIRECTOR
▪ President Director, PT. Bank Mandiri (Persero) Tbk (2019 – 2020) ▪ MD – Service and Network, BNI (2020)
▪ MD – Corporate Banking, PT. Bank Mandiri (Persero) Tbk (2018 – 2019) ▪ MD – Insttituional Relation, BNI (2015 – 2020)
▪ Network Management Division Head, BNI (2012-2015)
EDUCATION
▪ Master of Business Administration from University of Technology Sydney, EDUCATION
Australia ▪ Bachelor’s degree in Management from Universitas Krisnadwipayana
▪ Bachelor’s degree in Management from Universitas Trisakti
NOVITA WIDYA ANGGRAINI – FINANCE DIRECTOR (CFO) DAVID PIRZADA – RISK MANAGEMENT DIRECTOR
▪ SVP Strategy & Performance Management, PT. Bank Mandiri (Persero) Tbk ▪ SEVP Wholesale Risk, PT. Bank Mandiri (Persero) Tbk (2018 – 2020)
(2020) ▪ Country Chief Risk Officer, Bank of Tokyo Mitsubishi, Jakarta (2015 – 2018)
▪ SVP Accounting, PT. Bank Mandiri (Persero) Tbk (2017 – 2020)
EDUCATION
EDUCATION ▪ Master Degree in International Business from Southern New Hampshire
▪ Bachelor’s degree in Accounting from Universitas Islam Indonesia University, USA
▪ Bachelor’s Degree in Electrical Engineering from Northeastern University,
Boston, USA
SILVANO WINSTON RUMANTIR – WHOLESALE & PUTRAMA WAHJU SETYAWAN – RETAIL BANKING
INTERNATIONAL BANKING DIRECTOR DIRECTOR
▪ Corporate & International Banking Director, PT. Bank Negara Indonesia (Persero) ▪ Treasury Director, PT. Bank Negara Indonesia (Persero) Tbk (2022-2023)
Tbk (2020-2023) ▪ President Director PT Jaminan Kredit Indonesia (2020 – 2022)
▪ MD – Finance and Strategy, PT. Bank Mandiri (Persero) Tbk (2019 – 2020) ▪ Director of Treasury and International PT Bank Negara Indonesia (Persero)
▪ SEVP Corporate Banking, PT. Bank Mandiri (Persero) Tbk (2019) Tbk (2020)
▪ Director of Corporate Banking PT Bank Negara Indonesia (Persero) Tbk
(2018 – 2020)
EDUCATION
▪ Master’s degree in Finance from RMIT University, Melbourne Australia
▪ Bachelor’s degree in Bachelor of Arts from University of Oregon, USA EDUCATION
▪ Master Degree in Accounting Management, Gadjah Mada University
Yogyakarta (1996)
▪ Bachelor’s Degree in Forestry Gadjah Mada University Yogyakarta (1994)
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 59
Page 61
1H2023 About BNI
Board of Director
SIS APIK WIJAYANTO – ENTERPRISE & COMMERCIAL MUHAMMAD IQBAL – INSTITUTIONAL BANKING
BANKING DIRECTOR DIRECTOR
▪ Institutional Banking Director, PT. Bank Negara Indonesia (Persero) Tbk (2020-2023) ▪ Enterprise & Commercial Banking Director, PT. Bank Negara Indonesia
▪ MD- Institutional Relation, PT. Bank Rakyat Indonesia (Persero) Tbk (2017 – 2019) (Persero) Tbk (2020-2023)
▪ MD – Consumer Banking, PT. Bank Rakyat Indonesia (Persero) Tbk (2016 – 2017) ▪ SVP Small and Medium Enterprise Banking, PT. Bank Mandiri (Persero) Tbk
▪ MD-Funding and Network, PT. Bank Tabungan Negara (Persero) Tbk (2015 – 2016) (2020)
▪ SVP Small, Medium Enterprise and Micro Risk, PT. Bank Mandiri (Persero) Tbk
EDUCATION (2017 – 2020)
▪ Doctoral Degree in Administrative Sciences from Universitas Brawijaya, Malang
▪ Master’s degree in Management from Universitas Airlangga, Surabaya EDUCATION
▪ Bachelor’s degree in Business Administration from Universitas Brawijaya, Malang ▪ Master’s degree in Business Administration from Monash University, Australia
▪ Bachelor’s degree in Industrial Engineering from Bandung Institute of
Technology
CORINA LEYLA KARNALIES – DIGITAL & INTEGRATED RONNY VENIR – NETWORK & SERVICES DIRECTOR
TRANSACTION BANKING DIRECTOR
▪ Consumer Banking Director, PT Bank Negara Indonesia (Persero) Tbk ▪ SEVP Network, PT Bank Negara Indonesia (Persero) Tbk (2019 – 2020)
(2020-2023) ▪ SEVP Medium Business PT Bank Negara Indonesia (Persero) Tbk (2018
▪ General Manager of Data Management Division, PT Bank Negara – 2019)
Indonesia (Persero) Tbk (2019)
▪ General Manager of Consumer Product Management, PT Bank Negara EDUCATION
Indonesia (Persero) Tbk (2018) ▪ Master’s degree in Agribusiness from IPB University
▪ Bachelor’s degree in Husbandry from Padjadjaran University
EDUCATION
▪ Bachelor’s degree in Physic from University of Indonesia
MUCHAROM – HUMAN CAPITAL & COMPLIANCE DIRECTOR TOTO PRASETIO – TECHNOLOGY & OPERATIONS DIRECTOR
▪ Corporate Secretary, PT Bank Negara Indonesia (Persero) Tbk (2020 - 2022) ▪ SEVP Information Technology PT Bank Mandiri (Persero) Tbk (2019 -
▪ Head of Strategic Planning Division, PT Bank Negara Indonesia (Persero) Tbk 2022)
(2017 - 2020) ▪ Group Head IT Application Support PT Bank Mandiri (Persero) Tbk (2017 -
▪ Head of Policy Governance Division, PT Bank Negara Indonesia (Persero) Tbk 2019)
(2016 - 2017) ▪ Head of IT Project Management PT Bank Mega Tbk (2015-2017)
EDUCATION EDUCATION
▪ Master’s Degree of Management – International Business, Gadjah Mada ▪ Master’s Degree Mechanical Engineering, University of Stuttgart
University ▪ Bachelor Degree Mechanical Engineering, University of Stuttgart
▪ Bachelor Degree Economy and Development Study, Gadjah Mada University
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 60
Page 62
1H2023 About BNI
Board of Commissioners
AGUS DERMAWAN WINTARTO MARTOWARDOJO PRADJOTO
PRESIDENT COMMISSIONER/INDEPENDENT COMMISSIONER VICE PRESIDENT COMMISSIONER/INDEPENDENT COMMISSIONER
▪ Independent Commissioner, PT Sarana Multi Infrastruktur (2019 –present) ▪ President Commissioner, PT. Panah Perak Megasarana (2018 – present)
▪ Governor of Bank Indonesia (2013 – 2018) ▪ Vice President Commissioner, PT. Bank Negara Indonesia (Persero) Tbk
▪ Ministry of Finance, Republic of Indonesia (2010 – 2013) (2015 – 2018)
EDUCATION EDUCATION
▪ Bachelor’s degree in Economics from University of Indonesia ▪ Master of Economy from University of Kyoto, Japan
▪ Banking in State University of New York ▪ Bachelor’s degree in Law from University of Indonesia
▪ Banking in Stanford University
SIGIT WIDYAWAN – INDEPENDENT COMMISSIONER SEPTIAN HARIO SETO – INDEPENDENT COMMISSIONER
▪ Independent Commissioner of PT Jasamarga (Persero) Tbk. (2015 – ▪ Acting Coordinating Deputy of Investment and Mining (2020)
present) ▪ Special Staff of Coordinating Ministry of Maritime and Investment Affairs
▪ Director of PT Roda Pembangunan Jaya (2003-2015) (2018 – 2020)
EDUCATION EDUCATION
▪ Master’s degree in Accounting from University of Indonesia ▪ Master’s degree in International Finance from SKEMA Business School
▪ Bachelor’s degree in Economic from Universitas Negeri Sebelas Maret ▪ Bachelor’s degree in Accounting from University of Indonesia
ASMAWI SYAM – INDEPENDENT COMMISSIONER IMAN SUGEMA – INDEPENDENT COMMISSIONER
▪ President Commissioner, PT. Bank Tabungan Negara (Persero) Tbk (May – ▪ Dean of Faculty of Economy, IPB University
November 2019) ▪ Lecturer in Faculty of Economy, IPB University
▪ President Director, PT. Jiwasraya (Persero) (August – November 2019) ▪ Commissioner, PT. Bank Tabungan Negara (Persero) Tbk
▪ President Director, PT. Bank Rakyat Indonesia (Persero) (2015 – 2017)
EDUCATION
EDUCATION ▪ Doctorate degree in Economy from The Australian National University
▪ Master’s degree in Management from Padjadjaran University ▪ Master’s degree in Economy from University of New England
▪ Bachelor’s degree in Economic from Universitas Hasanuddin, Makasar ▪ Bachelor’s degree in Agribusiness from IPB University
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 61
Page 63
1H2023 About BNI
Board of Commissioners
ERWIN RIJANTO SLAMET – INDEPENDENT COMMISSIONER FADLANSYAH LUBIS – COMMISSIONER
▪ Deputy Governor of Bank Indonesia (2015 – 2020) ▪ Deputy Cabinet Secretary, Cabinet Secretariat of the Republic of Indonesia
▪ Executive Director of Financial System Surveillance Department of Bank (2021 - present)
Indonesia (2013 – 2015) ▪ Deputy for Political, Legal and Security Affairs, Cabinet Secretariat of the
▪ Director of Singapore Representative of Bank Indonesia (2010 – 2013) Republic of Indonesia (2015 - 2021)
▪ Expert Staff for Law and International Relations, Cabinet Secretariat of the
EDUCATION Republic of Indonesia (2014 - 2015)
▪ Master’s degree at University of Illinois (1989)
▪ Bachelor’s degree at Gadjah Mada University (1983) EDUCATION
▪ Doctoral Degree of Law, Gadjah Mada University
▪ Magister Degree Law Faculty, University of Wellington, New Zealand
▪ Bachelor Degree of Law, Padjadjaran University, Bandung
ASKOLANI – COMMISSIONER SUSYANTO – COMMISSIONER
▪ Director General of Budgeting, Ministry of Finance (2013 - present) ▪ Secretary of Ministry of State-owned Enterprises (2020 – present)
▪ Director of Non-tax State Revenue, Director General of Budgeting (2011- ▪ Head of the Center for State Property Management at the Secretariat
2013) General of the Ministry of Energy and Mineral Resources (2018 – 2020)
EDUCATION EDUCATION
▪ Master’s degree Arts Economics and Banking from University of Colorado ▪ Master’s degree in Law from STIH IBLAM, Jakarta
At Denver ▪ Bachelor’s degree in Law from Universitas Kediri
▪ Bachelor’s degree in Sriwijaya University
ROBERTUS BILITEA – INDEPENDENT COMMISSIONER*)
▪ President Director, PT Bahana Pembinaan Usaha Indonesia Persero (2020 – present)
▪ Independent Commissioner, PT Bank Mandiri (Persero) Tbk (2019 – 2020)
▪ Executive Director, Deposit Insurance Agency (LPS) (2012 – 2020)
EDUCATION
▪ Bachelor Degree of Law, University of Krisnadwipayana
▪ Magister Degree of Business Law, University of Padjadjaran
*)Waiting for Fit & Proper Test
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 62
Page 64
1H2023 About BNI
Network and Distribution
Branchless Commercial SME Business Consumer Loan Outlets
ATM Employee
Banking Business Center Center (SBE) Center (SKK) (KC, KCP, KK)
Jun-23 173.766 Jun-23 13.390 Jun-23 19 Jun-23 27 Jun-23 12 Jun-23 1.798 Jun-23 26,934
2022 164.979 2022 16.125 2022 23 2022 27 2022 12 2022 1.808 2022 27,170
2021 157.632 2021 16.385 2021 23 2021 27 2021 12 2021 1.854 2021 27,177
2020 152.762 2020 18.230 2020 33 2020 25 2020 12 2020 1.889 2020 27,202
OVERSEAS OFFICES
BNI has also entered into Singapore Nov 1955
key arrangements with Hongkong April 1963
prominent companies for Tokyo Sept 1969
payment channelling, New York April 1983
financing, loan distribution, London April 1984
and network/outlet Osaka Dec 2012
Seoul Feb 2016
development
Amsterdam May 2022
INDIVIDUAL CUSTOMER HIGHLIGHTS CORPORATE/SME CUSTOMER HIGHLIGHTS
67.7 million 23.6 million 2.0 million 233,474 413,479 476 2,165 410,838
FUNDING REGULAR SAVING CREDIT CARDS MORTGAGE BUSINESS BANKING CORPORATE MEDIUM LOAN SMALL LOAN
ACCOUNTS ACCOUNTS COSTUMERS DEBTORS DEBTORS DEBTORS DEBTORS
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 63
Page 65
1H2023 About BNI
E-Banking (Bank Only)
MOBILE BANKING IS SET TO BECOME EXPANDING THE NETWORK OF BANKING SERVICES
RESTRUCTURING
THE DOMINANT BANKING CHANNEL LOAN
FORBYCUSTOMERS
SECTORS & ITS SCHEME TO UNBANKED PEOPLE THROUGH AGEN46
2Q22 2022 1H23 YoY (%) 2Q22 2022 1H23 YoY (%)
BRANCHLESS BANKING
# Agent 161.074 164.979 173.766 7.9%
Mobile Banking
Agent Fund (IDR Bn) 2.281 2.711 2.743 20.2%
#User (Th) 12,140 13,632 14,928 23.34%
#Trx (Mn) 41,22 83,02 37,61 -8.8%
#Trx (Mn) 271 597 462 71.05%
Volume (IDR Tn) 37,33 73,80 28,40 -23.9%
Volume (IDR Tn) 368 802 544 52.06%
#Pandai Account (Th) 19.911 20.005 20.012 0.5%
SMS Banking
Pandai Fund (IDR Bn) 1.114 920 1.248 12%
#Us er (Th) 12,478 12,603 12,669 1.54%
E CHANNEL
RELIABLE TRANSACTION PLATFORM TO SUPPORT THE CASHLESS SOCIETY
#Trx (Mn) 356 698 328 -7.83%
Volume (IDR Tn) 14 27 9 -32.33% 2Q22 2022 1H23 YoY (%)
BNI Tap Cash
ELECTRONIC MONEY &
Internet Banking
#Card (Th) 8,895 9,710 10,789 21.30%
#User (Th) 2,153 2,176 2,200 2.18%
ACQUIRING
#Trx (Mn) 10 17 7 -23.59% #Trx (Mn) 23 57 41 76.56%
Volume (IDR Tn) 21 39 16 -26.94% Volume (IDR Bn) 698 1,530 1,064 52.45%
ATM Acquiring (EDC + Online Merchant)
#Trx (Mn) 704 1,374 601 -14.66% #Trx (Mn) 45 98 58 46.99%
Volume (IDR Tn) 341 676 321 -5.65% Volume (IDR Tn) 37 83 40 2.52%
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 64
Page 66
1H2023 Subsidaries
Subsidiaries
GROUP STRUCTURE FINANCIAL HIGHLIGHTS (IDR Bn)
Balanced Sheet Summary 2021 2022 Jun 22 Jun 23 YoY
Total Asset 25,796.2 38,225.9 38,915.4 41,414.0 6.4%
Liabilities 18,221.5 25,946.1 26,836.6 28,664.1 6.8%
Equity 7,574.7 12,279.8 12,078.7 12,749.9 5.6%
MULTIFINANCE SECURITIES LIFE INSURANCE REMITTANCE BANK VENTURE CAPITAL
1983 1995 1996 1996 2022* 2022
Profit & Loss Summary 2021 2022 1H 22 1H 23 YoY
99.99% 75.00% 60.00% 100.00% 63.92% 99.98%
Earning After Tax 284.3 307.8 170.1 255.2 50.1%
Fee Based Income **) 409.5 478.0 236.8 210.3 -11.2%
Dividen 28.6 220.8 188.4 145.6 -22.7%
ASSET
SECURITIES
MANAGEMENT
2011 2021
99.90% 100.00% Total Contribution
722.4 1,006.6 595.3 611.0 2.6%
(EAT + FBI + Div)
Year of establishment Shares ownership **) Contribution of subsidiaries which is directly recorded as FBI in BNI (parent company)
Note: as of February 2021, the financial summary (report) is excluded BNI
Syariah as a consolidated calculation.
* Year of joining BNI Group
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 65
Page 67
1H2023 Subsidaries
Subsidiaries
BNI LIFE BNI SECURITIES CONSOLIDATED BNI MULTIFINANCE
61.2
17.5
394.0 395.6 1.33
38.9 2.5
297.9 1.47
0.86 0.13
229.7 14.7 14.3 -1.1
202.4 203.8 8.4 4.8
126.8 7.0
131.1
-3.6
-115.0
22,816 5,941 23,359 6,012 22,552 5,822 24,243 6,309 1,656 1,288 1,622 1,158 2,720 1,107 2,245 1,154 1,233 268 1,029 153 1,085 270 1,603 152
2021 2022 1H22 1H23 2021 2022 1H22 1H23 2021 2022 1H22 1H23
BNI REMITTANCE LTD HIBANK* BNI VENTURES*
3.12
127.7 3.7
82.0 1.9
0.06 1.3
-0.206
-0.661
40.0
31.0
20.1 10.6 18.8 11.4 18.5 11.1 14.6 10.2 8,997 1,268 11,589 4,330 11,949 4,276 12,641 4,462 505.1 503.8 501.4 501.4 510.1 505.7
2021 2022 1H22 1H23 2021 2022 1H22 1H23 2022 1H22 1H23
Asset (IDR Bn) Equity (IDR Bn) EAT (IDR Bn) FBI contribution to BNI (IDR Bn) * New Subsidiaries ** PSAK 71
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 66
Page 68
1H2023 About BNI
Capital Ratios are Well Above Minimum Requirement (Bank Only)
21.6% 21.6%
19.7% 19.3%
19.7% 1.9% 1.9%
1.0% 16.8% 2.0% 1.8% 1.4% 1.4%
1.3% 1.4%
1.1% 18.3% 18.3%
18.7%
REGULATORY 16.4% 16.1%
REQUIREMENT
15.7%
13.8% 2.5%
Min. CAR Risk Profile (Capital Conservation
+ add buffers Buffer)
1.5%
(Capital Surcharge
on Systemic Bank)
9.8 %
CAR based on Risk 9.8%
(CAR based on Risk
Profile
Profile)
2019 2020 2021 2022 Mar-23 Jun-23
Notes:
Countercyclical buffer = 0%
CET 1 AT 1 Tier 2 CAR
PT BANK NEGARA INDONESIA (PERSERO) TBK. 67
Page 69
1H2023 About BNI
BASEL 3 Capital Requirement and BNI Capital Realization
BBNI CAPITAL REALIZATION
2020 2021 2022 CAPITAL 2021 2022 JUN-23
I Common Equity Tier I Capital (%)
Minimum Requirement 7.8 10.3 10.3
a Add On based on Bank's Risk Profile 1.95% 1.80% 1.80%
BNI Realization & Projection 16.4 16.0 18.3
b Minimum Common Equity Tier 1 Capital 4.50% 4.50% 4.50% II Tier I Capital (%)
Minimum Requirement 9.3 11.8 11.8
BNI Realization & Projection 17.7 17.5 19.8
c Tier 1 Capital Minimum 6.00% 6.00% 6.00%
III Total CAR Based on Risk Profile + Add Buffers (%)
9.8 9.8 9.8
d Capital Conservation Buffer 0.00% 0.00% 2.50% 1. BNI Risk Profile (Rating 2 Sound)
2. Capital Conservation Buffer 0 2.5 2.5
3. Countercylical Buffer 0% - 2.5% 0 0 0
4. Capital Surcharge for DSIB Bucket
1.5 1.5 1.5
e Countercyclical Buffer (Applied to all bank) 0.00% 0.00% 0.00%
Minimum Requirement (%) 11.3 13.8 13.8
CAR BNI Realization & Projection (%) 19.7 19.3 21.6
f Capital Surcharge for DSIB (Bank with 1.50% 1.50% 1.50%
systemic risk)
RISK WEIGHTED ASSET (BANK ONLY – Rp Tn)
2021 2022 JUN-23
g Minimum Common Equity Tier 1 + Risk 7.95% 7.80% 10.30%
Profile + Additional Buffers RWA - Credit Risk 547.2 586.2 576.3
RWA - Market Risk 1.7 2.2 2.9
Minimum Tier 1 Capital based on Risk
RWA - Operational Risk 87.3 93.0 35.0
h 9.45% 9.30% 11.80%
Profile + Additional Buffers
Total RWA 636.2 681.4 614.2
Total Capital 125.6 131.3 132.7
Minimum CAR + Risk Profile + Additional 11.45% 11.30% 13.80%
i
Buffers CAR - % 19.7 19.3 21.6
PT BANK NEGARA INDONESIA (PERSERO) TBK. 68
Page 70
1H2023 About BNI
BNI Shares & Rating
BBNI Shares Performance
BBNI’s closed price 27 June 2023 was Rp9,150, grew 16.56% Year on Year
Long Term Foreign Currency BBB-
Long Term Local Currency BBB-/Stable ▪ Issued shares 18,648,656,458 shares
Fitch Short Term Foreign Currency F3 ▪ Price [27 June 2023] : Rp 9,150 [+16.56% YoY, -0.81% YtD]
Rating Viability Rating bb+ ▪ Market Capitalization : Rp 170.6 trillion [+/- US$ 11.4 billion]
National Long Term Rating AA+/Stable Government of Indonesia (GOI) BBNI Shares Ownership: 60.00%
National Short Term Rating F1+ Public BBNI Shares Ownerships: 40.00%
Public Shareholders Shares Ownership
Foreign Institutions 4,859,811,235 65.18%
Outlook Stable
Pension Fund 810,753,441 10.87%
Long Term Foreign Issuer Credit BBB-
Standard Long Term Local Issuer Credit BBB- Private Stakeholders/ Investors 891,650,127 11.96%
& Poor's Short Term Foreign Issuer Credit A-3 Mutual Funds 461,574,646 6.19%
Short Term Local Issuer Credit A-3 Insurance 339,762,216 4.56%
Private Limited 70,553,854 0.95%
Foundation 18,310,729 0.25%
Outlook Stable Bank 3,372,057 0.05%
Foreign Long Term Bank Deposits Baa2 Union 688,097 0.01%
Local Long Term Bank Deposits Baa2
Moody's Baseline Credit Assessment
Other institution 5,133 0.00%
Baa3
Adjusted Baseline Credit Assessment Baa3
Counterparty Risk Assessment Baa2/p-2 Floating Ownerships Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23
Pefindo Corporate Rating AAA/Stable Domestic 51% 42% 40% 39% 38% 36% 35%
Foreign 49% 58% 60% 61% 62% 64% 65%
PT BANK NEGARA INDONESIA (PERSERO) TBK. 69
Page 71
1H2023
5 Years
Financial
Data
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 70
Page 72
1H2023 5 Years Financial Data
5 Years Financial Data (1)
Balance Sheet (IDR Billion) 2018 2019 2020 2021 2022 1H22 1H23
Total Assets 808,572 845,605 891,337 964,838 1,029,837 946,508 1,025,091
Placement with other-Banks & BI 39,324 47,777 61,329 92,290 51,569 48,575 67,837
Marketable Securities (market value) 32,362 27,447 29,947 26,053 28,556 27,715 32,325
Government Bonds (market value) 86,791 81,029 90,661 111,430 121,291 114,814 121,408
Loan (Gross) 512,778 556,771 586,207 582,436 646,188 620,423 650,770
Third Party Funds 578,775 614,311 679,452 729,169 769,269 691,837 765,009
Deposit from other Banks 14,233 11,926 9,372 14,377 15,245 18,436 15,226
Marketable Securities Issued 3,087 3,085 3,085 18,751 22,110 24,424 21,482
Borrowings 52,025 57,236 44,114 32,458 35,654 35,626 26,081
Shareholder's Equity 110,374 125,004 112,872 126,520 140,198 130,491 143,474
Profit & Loss (IDR Billion) 2018 2019 2020 2021 2022 1H22 1H23
Interest Income 54,139 58,532 56,173 50,026 54,659 25,531 30,295
Interest Expense (18,693) (21,930) (19,021) (11,779) (13,338) (5,921) (9,693)
Net Interest Income 35,446 36,602 37,152 38,247 41,321 19,610 20,602
Premium Income Net 1,712 1,697 1,471 1,399 1,552 708 782
Non-Interest Income 9,615 11,358 11,864 13,639 14,820 7,522 6,925
Recovery 1,997 2,354 1,549 2,581 3,780 1,906 1,783
Operating Income 48,771 52,012 52,036 55,865 61,472 29,776 30,092
Operating Expense (21,783) (23,687) (24,214) (24,801) (27,059) (12,532) (12,792)
Pre-Provision Operating Profit 26,988 28,325 27,822 31,064 34,413 17,243 17,300
Provisioning Charges (7,388) (8,838) (22,590) (18,298) (11,514) (6,403) (4,511)
Non-Operational Inc/(Exp) 221 (118) (119) (216) (212) (22) (85)
Net Income Before Tax 19,821 19,369 5,113 12,551 22,687 10,819 12,789
Net Income 15,015 15,384 3,280 10,898 18,312 8,803 10,302
P T B A N K N E G A R A I N D O N E S I A ( P E R S E R O ) T B K . | Disclaimer: Starting on 2021, BNI is no longer consolidating BNI Sharia | PAGE 71
Page 73
1H2023 5 Years Financial Data
5 Years Financial Data (2)
Financial Ratios - % 2018 2019 2020 2021 2022 1H22 1H23
LOAN Growth 16.2 8.6 5.3 5.3 10.9 8.9 4.9
CASA Ratio 64.8 66.6 68.5 69.4 72.4 69.2 69.6
CASA Growth 15.3 9.1 5.6 17.1 10.1 6.4 11.1
CAPITAL
Shareholders equity to total asset 13.7 14.8 12.7 13.1 13.6 13.6 14.0
Tier I - CAR (include operational risk) 17.4 18.7 15.7 17.7 17.5 16.5 19.8
Tier II - CAR (include operational risk) 1.1 1.1 1.1 2.0 1.8 1.9 1.9
Total CAR (credit,market + operational risk) 18.5 19.7 16.8 19.7 19.3 18.4 21.6
ASSET QUALITY
Net Non-Performing Loan 0.8 1.2 0.9 0.9 0.5 0.6 0.6
Gross Non-Performing Loan 1.9 2.3 4.3 3.7 2.8 3.2 2.5
Credit Cost 1.4 1.6 4.1 3.3 1.9 2.2 1.4
NPL Coverage 152.9 133.5 182.4 233.4 278.3 263.3 308.8
RENTABILITY
Pre-Tax ROAA 2.8 2.4 0.5 1.4 2.5 2.4 2.6
ROAE* 15.2 13.4 2.6 9.4 14.9 15.1 15.4
Net Interest Margin 5.3 4.9 4.5 4.7 4.8 4.7 4.6
EFFICIENCY
Cost to Income Ratio 42.5 43.9 44.2 43.3 42.6 40.4 41.1
LIQUIDITY
Loan to Deposit Ratio 88.8 91.5 87.3 79.7 84.2 90.1 85.2
DIVIDEND
Dividend Payout Ratio [%] 25.0 25.0 25.0 25.0 40.0
*ROAE with average total equity as denominator ; 17.0% in 1H23 if the denominator is Tier 1 Capital as reported to OJK
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 72
Page 74
1H2023 Equity Research Contact Details
Equity Research Contact Details
NO BROKERAGE ANALYST EMAIL
1 Bahana Securities Yusuf Ade Winoto Yusuf.ade@bahana.co.id
2 BCA Sekuritas Andre Benas andre.benas@bcasekuritas.co.id
3 CGS-CIMB Handy Noverdanius handy.noverdanius@cgs-cimb.com
4 Ciptadana Sekuritas Erni M Siahaan Siahaanerni@ciptadana.com
5 Citi Investment Research Ferry Wong Ferry.wong@citi.com
6 CLSA Sarina Lesmina Sarina.Lesmina@clsa.com
7 Credit Suisse Hanel Topada hanel.topada@credit-suisse.com
8 Danareksa Sekuritas Eka Savitri Eka.Savitri@danareksa.com
9 DBS Bank Rui Wen Lim ruiwenlim@dbs.com
10 Goldman Sachs Melissa Kuang Melissa.kuang@gs.com
11 HSBC Singapore Weldon SNG Weldon.sng@hsbc.com.sg
12 Indo Premier Securities Jovent Muliadi Jovent.muliadi@ipc.co.id
13 JP Morgan Harsh Wardhan Modi Harsh.w.modi@jpmorgan.com
14 KB Valbury Securities Akhmad Nurcahyadi Akhmad.nurcahayadi@kbvalbury.com
15 Korea Investment & Securities Co Ltd. Edward Ariadi Tanuwijaya Edward.t@kisi.co.id
16 Macquarie Jayden Vantarakis Jayden.vantarakis@macquarie.com
17 Mandiri Sekuritas Kresna Hutabarat Kresna.hutabarat@mandirisek.co.id
18 Maybank Sekuritas Jeffrosenberg Chenlim Jeffrosenberg.lim@maybank.com
19 Mirae Asset Daewoo Securities Handiman Soetoyo handiman.soetoyo@miraeasset.co.id
20 MNC Securities Victoria Venny Victoria.nawang@mncgroup.com
21 Morgan Stanley Selvie Jusman Selvie.Jusman@morganstanley.com
22 Nomura Verdhana Raymond Kosasih Raymond.kosasih@verdhanaindonesia.com
23 RHB Research Fiona Leong Fiona.leong@rhbgroup.com
24 Samuel Securities Suria Dharma Suria.dharma@samuel.co.id
25 Sucor Sekuritas Edward Lowis Edward.lowis@sucorsekuritas.com
26 Trimegah Securities Adi Prabowo adi.prabowo@trimegah.com
27 UOB Kay Hian Posmarito Pakpahan posmarito@uobkayhian.com
28 UBS Joshua Tanja Joshua.tanja@ubs.com
PT BANK NEGARA INDONESIA (PERSERO) TBK. PAGE 73
Page 75
PT. Bank Negara Indonesia (Persero) Tbk. Investor Relations Division Menara Astra Building, 32nd Floor Zone F Jl Jend Sudirman kav. 5 - 6 Jakarta 10220 T: 62-21-86656800 E: ir@bni.co.id Disclaimer This presentation has been prepared by PT. Bank Negara Indonesia (Persero) Tbk (the “Company”) for information purposes only. No representation or warranty, express or implied, is given by or on behalf of the Company as to the accuracy or completeness of the information or opinions contained in this presentation. The presentation does not constitute or form part of an offer, solicitation or invitation of any offer, to buy or subscribe for any securities, nor should it or any part of it form the basis of, or be relied in any connection with, any contract, investment decision or commitment whatsoever. The Company does not accept any liability whatsoever for any loss however arising from any use of this presentation or their contents or otherwise arising in connection therewith. Forward Looking Statements Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. These forward-looking statements include all matters that are not historical facts. They are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statement contained within this presentations, regardless of whatever those statements are affected as a result of new information, future events or otherwise. Rounding Please note that rounding differences may appear throughout the presentation.
Page 76
Thank You
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