Bank Permata's Profit Rises 16% in Q1-2026, but Core Business Engine Falters
Jakarta, CNBC Indonesia — PT Bank Permata Tbk (BNLI) recorded profit growth in the first quarter of 2026. However, behind this performance, several indicators point to weakness in the core business, changes in funding structure, and early signs of liquidity tightening.
According to the financial report, Bank Permata’s net profit was recorded at Rp920.1 billion in the first quarter of 2026, up approximately 16.6% year-on-year (yoy) from Rp788.9 billion in the same period the previous year.
Although profit grew by double digits, intermediation performance has not shown strengthening in line with this. Loan disbursements still recorded growth of around 2.7% yoy to Rp149.5 trillion from Rp145.6 trillion. However, on a quarterly basis, loans actually contracted compared to the end of 2025 position, indicating weakening expansion momentum.
In line with this, net interest income (NII) actually fell to Rp2.42 trillion from Rp2.53 trillion, or a correction of about 4.3% yoy. This situation indicates that limited loan growth has not been able to support the bank’s main revenue.
The bank also faced pressure from a net interest margin (NIM) that declined by 26 basis points year-on-year to 3.9%.
On the funding side, the low-cost funds ratio (CASA) was recorded to increase to around 65.6% from 58.6% year-on-year. However, this increase was more influenced by a significant decline in time deposits of -18.2% yoy to Rp63.47 trillion, and an increase in current accounts of 13.3% yoy to Rp75.05 trillion, while savings actually fell 7.2% yoy to Rp45.83 trillion.
This condition indicates a change in the composition of funds, where the contribution from more stable funds such as savings has decreased, while the increase in current accounts, which are generally more volatile, has become the main driver.
Overall, Bank Permata’s third-party funds (DPK) fell 1.6% yoy to Rp184.35 trillion. In the same period, deposits from other banks surged significantly to Rp7.05 trillion from Rp3.24 trillion, or up around 117% yoy.
In line with the contraction in the bank’s performance in raising funds, the loan-to-deposit ratio (LDR) rose 388 basis points year-on-year to 87.10%.
Meanwhile, amid pressure on the core business, profit growth was instead supported by non-core income. Gains from securities sales surged to Rp180.98 billion from Rp56.64 billion, or up around 219% yoy. Conversely, trading income fell around 55.7% yoy, reflecting volatility in non-interest income sources.