Bank Mega Printed Profit of Rp 4.01 Trillion, Number 5 in Indonesia

In the midst of the Covid-19 pandemic, the net profit of PT Bank Mega Tbk (MEGA) continued to grow by 33% YoY to Rp 4.01 trillion. Based on data from Bank Mega’s 2021 performance report, the company’s asset value last year grew 18 percent year-on-year (YoY) to Rp 133 trillion. This growth was above the increase in national banking industry assets, which was 10% YoY. And placing Bank Mega’s profit achievement in the top 5 banks, although in terms of assets it is not the largest.

Despite growing, Bank Mega will also experience various challenges in 2021 like many other industries, such as the global economy which has not yet recovered, and the Indonesian economy which has not yet been stable. Plus, with uneven vaccination and delta variant attacks in 2021. Fortunately, Bank Mega was able to transform with the rapid flow of digitalization of the financial economy with the dominance of several BigTechs. This includes demands for a green economy and sustainable finance.

Through various challenges, Bank Mega listed itself as one of the banks with the largest profits in Indonesia. In addition to Bank Mega, four other banks that also recorded strong performance include PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank Central Asia Tbk (BBCA), and PT Bank Mandiri. Negara Indonesia (Persero) Tbk (BBNI). Throughout 2021, they recorded a brilliant performance which was reflected in net profit which shot up to three times. The monster performance is inseparable from the growth in net interest income and the bank’s focus on reducing the cost of funds.

Feb 25, 2022, CNBC Indonesia