Massive Construction SOE Debts Jeopardize Himbara Performance

Accruing debt burdens of construction SOEs in state-owned banks may have an impact on the banks’ performance this year, as evidenced by the rise of their reserve ratio in H1 to minimize risks from non-performing loans.

Emanuel Berkah Caesario

4 Sep 2023 - 17.52
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Massive Construction SOE Debts Jeopardize Himbara Performance

Illustration - Construction worker equipments.

Bisnis, JAKARTA — Debts of construction state-owned enterprises (SOE) like PT Waskita Karya (Persero) Tbk. (WSKT) and PT Wijaya Karya (Persero) Tbk. (WIKA) in state-owned banks (collectively known as Himbara) remains substantial. The massive accrued debt may potentially affect the performances of state-owned banks this year.

Amin Nurdin, a senior faculty member at Indonesia’s Banking Development Institute (LPPI), said that the rising concerns about sluggish performance in state-owned banks are related to the increased reserves amid liquidity pressures and the massive debts of state-owned construction companies.

PT Bank Mandiri (Persero) Tbk. (BMRI) increased its non-performing loan (NPL) coverage ratio in June 2023 to 304 percent from 253 percent in June 2022. BMRI’s loan-at-risk (LAR) ratio also increased from 41.8 percent in June 2022 to 48.2 percent.

PT Bank Negara Indonesia (Persero) Tbk. (BBNI) increased its NPL coverage ratio from 263.3 percent in June 2022 to 308.8 percent in June 2023 while the LAR ratio rose from 42.3 percent in June 2022 to 47.1 percent in June 2023.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.