High Interest Rates Drive Surging Profit From Bank Commisions

In Indonesia, the banking sector has experienced a significant increase in fee-based income amid the prevailing high interest rates. This surge in fee-based income is closely tied to the rapid development of digital services.

Fahmi Ahmad Burhan & Rinaldi Azka

23 Sep 2023 - 21.18
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High Interest Rates Drive Surging Profit From Bank Commisions

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Bisnis, JAKARTA - In Indonesia, the banking sector has experienced a significant increase in fee-based income amid the prevailing high interest rates. This surge in fee-based income is closely tied to the rapid development of digital services.

According to recent data from the Indonesian Banking Statistics (SPI), non-interest operating income, which includes fee-based income, reached IDR 275.99 trillion in June 2023, marking an 18.21% year-on-year (YoY) growth. 

This non-interest income, which encompasses fee-based income, has significantly contributed to the profit growth of banks. Commercial banks in Indonesia reported a net profit of IDR 119.97 trillion in June 2023, reflecting a 23.42% YoY increase.

Several banks have also reported an uptick in their fee-based income during the first half of 2023. For instance, PT Bank Syariah Indonesia Tbk. (BSI) recorded fee-based income of IDR 799.92 billion in June 2023, compared to IDR 769.98 billion in June 2022.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.