Economic slowdown and falling purchasing power apply only for middle-to-income group. Major banks in the country continue to reap profits. PT Bank Central Asia (BCA) Tbk (BBCA), owned by Hartono Family, booked net profit of Rp12.9 trillion in the first quarter (Q1) of 2024, grew 11.7% year on year (y/y), as net interest income rose 7.1% y/y to Rp19.8 trillion and non interest income increased 6.8% y/y to Rp6.4 trillion. To subscribe please click here
