Bank Mayapada's Profit Rises, but Asset Quality Deteriorates

Bank Mayapada recorded a net profit of Rp61.19 billion in the first half of 2026, a 158% jump compared to Rp23.7 billion in the same period last year. However, behind this profit increase, the bank’s credit quality showed signs of weakening.

Based on the financial report as of 30 June 2026, the profit growth was not supported by an increase in core business. Net interest income was relatively stagnant at Rp1.39 trillion. The profit surge was largely driven by a spike in foreign exchange gains to Rp129.29 billion from just Rp3.06 billion in the first half of 2025, alongside a decrease in financial asset impairment charges to Rp104.7 billion from Rp189.1 billion.

At the same time, asset quality deteriorated. The bank’s gross non-performing loan (NPL) ratio increased compared to the same period in 2025. The bank’s loan portfolio grew, with total loans disbursed reaching Rp110.41 trillion, a 5.84% year-on-year increase. However, loans in the doubtful category saw a more than 65-fold increase to Rp539.85 billion, while bad loans in the loss category rose 17.92% year-on-year to Rp3.9 billion. By sector, non-performing loans in business services soared, contributing 55% to the net NPL.

In line with the worsening asset quality, the balance of loan loss provisions also increased to Rp1.46 trillion from Rp1.32 trillion at the end of the previous year.