Bank Maspion Q1 2026 Performance: Rapid Credit Growth, Profit Slump 91%

Bank Maspion Indonesia Tbk (BMAS) posted a sharp fall in net profit in the first quarter of 2026. According to the financial statements published, the company booked a net profit of Rp 2.6 billion, down by 91.5% year on year amid very aggressive loan growth.

In value terms, BMAS’s credit disbursement rose from Rp 14.34 trillion to Rp 18.21 trillion, an increase of 27% yoy. However net interest income declined from Rp 176.75 billion to Rp 164.37 billion.

The main reason was the narrowing of net interest margin (NIM) from 3.54% to 3.17%, meaning the spread between earnings from loans and deposits narrowed.

Nevertheless, BMAS reported a surge in other operating income by 286% yoy to Rp 47.83 billion from Rp 12.39 billion. The rise mainly came from other income lines as well as gains from the sale of securities.

In the first three months of this year, bank interest expenses actually fell by 24.69% yoy to Rp 162.78 billion. But interest income also fell by 16.74% yoy, placing pressure on the bank’s core earnings.

Looking deeper, in the first quarter the bank restructured its funding structure. Total third-party funds (DPK) declined 24.49% yoy to Rp 11.47 trillion.

Deposits fell 20.72% yoy, savings by 10.79% yoy, and current accounts by 42.19% yoy. Along with the decline in cheap funds (CASA) by 33.69% yoy, the bank’s CASA ratio slipped from 29.1% to 25.5%.

Profitability was further eroded by provisions for impairment losses which rose 216.15% yoy to Rp 53.6 billion, in line with deteriorating asset quality. The gross NPL ratio rose from 1.16% to 2.45%; the net NPL ratio also jumped from 0.79% to 1.52%.