Bank Rakyat Indonesia’s NIM resilient but deposit growth lags

Pegadaian and PNM contributions helped keep NIM resilient, said UOBKH.

Bank Rakyat Indonesia (BRI)’s net interest margin (NIM) remained resilient whilst net profit met expectations in H1 2026, according to UOB Kay Hian (UOBKH).

Contribution from Pegadaian and PT Permodalan Nasional Madani (PNM) helped keep consolidated NIM resilient at 7.7%, according to UOBKH analyst Posmarito Pakpahan.

“Pegadaian more than offset the contraction in bank-only micro. However, corporate and commercial lending accounted for around 69% of incremental loans,” Pakpahan said in a report published on 1 September.

Funding remains a key watchpoint, as deposits lag asset growth amidst tighter liquidity, Pakpahan said.

Loans grew 16.2% year on year, with wholesale loans doing most of the heavy lifting. Corporate loans now represent 24.9% of BRI’s portfolio, up from 19.7% in 2025. Micro loans’ share declined to 43.4%.

Current account and savings account (CASA) grew 10.1% year on year. Total deposits rose 6.7%m slower than BRI’s loan growth.