By Yi Wei Wong
Bank Rakyat Indonesia's 2022 net profit rose 67%, driven by higher net premium income.
The lender reported full-year net profit of 51.408 trillion rupiah ($3.39 billion), compared with IDR30.756 trillion for 2021.
Net interest income rose 9.2% to IDR124.597 trillion last year, the bank said Wednesday in an investor presentation.
Bank Rakyat Indonesia said its net premium income rose 51% to IDR1.577 trillion in 2022.
The lender said its composition of high-yield micro loans increased to 48% of its total loans under coverage from 40% previously.
For 2023, it guided for loan growth of 10%-12% and net interest margins to range between 7.7% and 7.9%.
Write to Yi Wei Wong at yiwei.wong@wsj.com
(END) Dow Jones Newswires
02-08-23 0101ET