BBCA - Posts net profit of IDR9.2 tn as of February 2026

BBCA - Posts net profit of IDR9.2 tn as of February 2026 The performance of Bank Central Asia (BBCA) shows growth, but not significantly, at the beginning of 2026. Based on the financial report as of February 2026, BCA recorded a YTD profit of IDR9.2 tn on a bank-only basis. This realization represents a 2.81% yoy increase. In comparison, during the same period in 2025, BCA earned a bank-only profit of IDR8.97 tn. BCA's net profit grew slightly because its net interest income actually fell by 0.15% yoy to IDR12.85 tn in February 2026. This decline was caused by increased interest expenses. BCA's interest income recorded a growth to IDR14.98 tn, up 0.79% yoy. However, interest expenses grew even more significantly to IDR2.12 tn, up 6.90% yoy. The performance of credit and financing disbursed by BCA in February 2026 increased by 5.84% yoy to IDR953.22 tn. This increase is considered sluggish compared to January 2026, which saw a 6.26% yoy increase. Meanwhile, third-party funds were recorded at IDR1,227.76 tn, growing by 9.37% yoy. (Source : Kontan) Comment : BBCA is playing a defensive game in early 2026. The bank is prioritizing asset quality and liquidity over aggressive loan growth. While the profit growth is "sluggish" by BCA’s historical standards, the bank remains fundamentally over-capitalized and ready to accelerate once the real sector demand picks up in Q2 or Q3. Maintain BUY, GGM-TP of IDR11,080 (‘4.1x ‘26F P/B).