Top 30 Indonesian Finance Public Companies Q3 2025 Revenue & Performance

1) Overall companies performance (Q3 2025 snapshot)
Q3 2025 for Indonesias finance sector was a mixed picture: the largest universal banks posted resiliency in fee income and loan growth while facing pressure on net interest margins and higher provisioning in some cases. State-owned banks and large private banks still produced the bulk of sector profits, with several banks reporting high single-digit to low-double-digit growth in loans and fee-based income, while smaller banks and multifinance firms reported more variable results due to provisioning and funding costs. Aggregate headwinds were currency volatility versus USD and some upward pressure on funding costs, but overall the sector remained profitable and well capitalized into Q3.
2) Earnings call snapshots: Top 10 Indonesian public finance companies (Q3 2025) summarized (IDR and USD equivalents)
Bank Central Asia (BBCA) Net profit (9M/through Q3 2025): IDR 43.40 trillion → ≈ USD 2.61 billion.
Summary: BCA reported consolidated net profit of about IDR 43.4T for the first nine months (Q3 result published in Oct 2025), showing stable margins and CASA strength; loan growth was healthy and fee income supported revenue.
Bank Rakyat Indonesia (BBRI) - Net profit (9M/through Q3 2025): IDR ~40.8-41.2 trillion → ≈ USD 2.45-2.48 billion.
Summary: BRI - the large micro/retail SME bank - posted roughly IDR 40.8T - IDR 41.2T in net profit (9M25), with some reported yoy decline vs 2024 but still strong loan flows in retail/UMKM segments.
Bank Mandiri (BMRI) - Net profit (9M/through Q3 2025): IDR 37.7-37.8 trillion → ≈ USD 2.27-2.27 billion.
Summary: Mandiri recorded net profit in the IDR 37.7T range (9M25), with loan growth offset by margin compression vs last year; management pointed to efficiency and asset quality metrics in the call.
Bank Negara Indonesia (BBNI) - Net profit (9M/through Q3 2025): IDR ~15.1 trillion → ≈ USD 0.91 billion.
Summary: BNI's profit was reported roughly IDR 15.1T in Q3/9M 2025; the bank cited steady loan growth (double-digit in some segments) and elevated provisioning levels that weighed on net profit vs prior periods.
Bank CIMB Niaga (BNGA) - Net profit (9M/through Q3 2025): IDR ~5.3 trillion → ≈ USD 0.32 billion.
Summary: CIMB Niaga posted net profit of about IDR 5.3T to Sep 2025, with modest yoy growth; fee income helped offset margin pressures.
Bank Syariah Indonesia / BSI (BRIS) - Net profit (9M/through Q3 2025): IDR ~5.56-5.57 trillion → ≈ USD 0.33 billion.
Summary: BSI reported around IDR 5.57T net profit through Q3, with growth driven by Shariah-retail and fee income (gold product contributions cited in the reporting).
Bank Tabungan Negara (BBTN) - Net profit (9M/through Q3 2025): IDR 2.30 trillion → ≈ USD 0.14 billion.
Summary: BTN (focused on mortgages/housing finance) reported net profit of IDR 2.3T, supported by mortgage demand and improved NIM.
Bank Panin (PNBN) - Net profit (9M/through Q3 2025): IDR 2.19 trillion → ≈ USD 0.13 billion.
Summary: Panin reported IDR ~2.19T in net profit with higher provisioning year-on-year (management increased reserves), and somewhat muted credit growth.
Bank Permata (BNLI) - Net profit (9M/through Q3 2025): IDR 2.88 trillion → ≈ USD 0.17 billion.
Summary: Permata posted IDR ~2.9T in profit through Sep 2025.
Maybank Indonesia (BNII) - Net profit (9M/through Q3 2025): IDR ~989.4 billion → ≈ USD 0.06 billion (≈ USD 59-60 million).
Summary: Maybank Indonesia reported PATAMI around IDR 989.4B (9M25) significant yoy improvement driven by lower provisions and higher non-interest income.
3) Key trends & insights from Q3 2025
Margin pressure but fee-income resilience. Several large banks reported compressed net interest margins (NIM) vs prior year, but fee income (payments, bancassurance, remittances and corporate fees) helped offset NIM softness. This pushed management to emphasize fee diversification
Higher provisioning / cautious asset quality management. A number of midsized banks increased loan-loss provisioning in Q3 Panins higher provisioning was explicitly cited as a drag on profit reflecting cautious positioning as some corporate segments remained stressed.
Housing & retail lending remained a bright spot. Specialist mortgage lender BTN and retail-focused banks saw growth in mortgage and consumer retail portfolios, supporting earnings in those niches.
Shariah banking expanding. Islamic bank BSI (BRIS) showed meaningful profit growth year-over-year, indicating continued demand for Shariah products and the profitable scaling of Islamic banking platforms.
Currency and funding environment matters. Rupiah volatility versus USD and occasional shifts in USD deposit rates for corporate deposits affected funding costs for banks with USD liabilities; central bank guidance and liquidity measures remain critical inputs for management decisions.
4) Outlook for Q4 2025 and beyond
• Stability with vigilance. The finance sector is likely to close 2025 with stable aggregate profitability among the largest banks, but margins will remain sensitive to the countrys funding costs and global rate expectations. Many banks signaled cautious optimism for Q4 but highlighted the need to watch asset quality and operating expenses.
• Focus on non-interest income & digital distribution. Banks are accelerating digital product rollouts and partnerships (payments, bancassurance, wealth platforms) to grow fee income and reduce dependence on interest spreads.
• Provisioning and credit discipline will persist. Given mixed vibes in certain corporate and consumer pockets, expect continued conservative provisioning where stress is rising, balancing near-term profits with long-term stability.
• Potential sector M&A / consolidation talk remains active. Market commentary this year continued to highlight potential strategic moves (including cross-border interest in local banks) any large deal would reshape competitive dynamics for mid-tier banks.
5) Conclusion
Q3 2025 showed that Indonesias publicly listed finance companies especially the big universal banks remain profitable and central to the countrys financial intermediation. Earnings were supported by fee diversification and retail loan growth, although margin pressure and higher provisioning tempered some headline profits. For investors and analysts, the fourth quarter and early 2026 will be about watching NIM trends, provisioning trajectories, and progress on fee-income diversification (digital payments, bancassurance and wealth). The largest banks remain the engine of sector profitability, but several mid-caps and multifinance firms are proving they can carve out profitable niches.

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