BCA (BBCA) Will Disburse Interim Dividend IDR 30.81 tn

BCA (BBCA) Will Disburse Interim Dividend IDR 30.81 tn
BBCA will distribute interim dividends totaling IDR 30.81 tn for the year of 2024, translating to a DPS of IDR 250/sh (Div. yield 2.9%). The schedule of disbursement is as follows:
- Cum Dividends in the Regular Market and Negotiated Market on 20 Mar-25.
- Ex Dividend in the Regular Market and Negotiated Market on 21 Mar-25.
- Cum Dividends on the Cash Market on 24 Mar-25.
- Ex Dividend on the Cash Market on 25 Mar-25.
- Interim dividend payment on 11 Apr-25.
(Kontan)

INDUSTRY
Budget Absorption for MBG Program to Peak in 2H25
The absorption of the Nutritious Meal Program (MBG) budget has reached IDR 710.5 bn as of 12 Mar-25, out of the total IDR 171 tn allocated for the year. The slow absorption is due to administrative adjustments and initial process constraints. Budget utilization is expected to accelerate from Sep-25, once human resources and infrastructure are fully prepared. (Bisnis.com)

COMPANY
BCAS: SMRA - FY24 Results Above Ours and Cons

SMRA recorded a net profit of IDR 1.37 tn in 2024 (+80% YoY), while in 4Q24 the net profit rose to IDR 440 bn (+144.2% QoQ; +289.3% YoY). Revenue reached IDR 10.62 tn (+59.7% YoY). Gross profit also increased to IDR 5.46 tn (vs IDR 3.35 tn in 2023). EBIT came at IDR 3.8 tn (+98.7% YoY), while in 4Q24 EBIT came at IDR 1 tn (+83.1% QoQ; +182.3% YoY).

 

BCAS: BBCA - 2M25 Earnings Jumped +8.4% YoY

-  BBCA's interest income grew modestly to IDR 14.9 tn in 2M25 (+5.0% YoY). In Feb-25, it declined to IDR 7.1 tn (-7.6% MoM; +4.8% YoY). Meanwhile, interest expense in 2M25 was slightly reduced to IDR 2.0 tn (-1.6% YoY). Similarly, in Feb-25, interest expense decreased to IDR 962 bn (-6.6% MoM; +0.3% YoY). As a result, NII in 2M25 still increased to IDR 12.9 tn (+6.1% YoY).
-  Non-interest income grew in 2M25 to IDR 3.8 tn (+13.7% YoY), though in Feb-25, it declined to IDR 1.7 tn (-16.1% MoM; -2.5% YoY).
-  Provisioning increased to IDR 605 bn in 2M25 (+8.3% YoY), but in Feb-25, it dropped significantly to IDR 37 bn (-93.6% MoM; -90.2% YoY). Despite the lower provisioning, PPOP remained strong at IDR 11.7 tn in 2M25 (+9.6% YoY).
-  Net profit in 2M25 surged to IDR 8.9 tn (+8.4% YoY), while in Feb-25, it contributed IDR 4.2 tn (-10.1% MoM; +11.6% YoY).
-  NIM stood at 5.8% (vs. 5.7% in 2M24). LDR increased to 80.6% (vs. 73.5% in 2M24). Loan growth slowed to 14% (vs. 15.1% in 2M24), while deposit growth also declined to 3.9% (vs. 5.1% in 2M24), mainly supported by an increase in current accounts and savings.