PT Super Bank Indonesia (SUPA) Q4 2024 earnings summary

Executive summary

• Achieved rapid digital growth in 2024, surpassing 2.7 million digital customers within six months of app launch and growing third-party funds by 436% YoY to IDR 4.94 trillion.

• Launched innovative products including Celengan (10% p.a. savings), flexible deposits, and digital loans, supported by strong shareholder ecosystem (Grab, Singtel, KakaoBank, EMTEK).

• Maintained robust capital with a CAR of 95.84% and improved asset quality, with gross NPL at 2.27% and net NPL at 0.35% by year-end.

Financial highlights

• Total assets more than doubled to IDR 11.4 trillion (+105% YoY); net loans grew 129% to IDR 6.1 trillion.

• Net interest income rose 102% YoY to IDR 607 billion; net loss narrowed to IDR 366 billion from IDR 385 billion in 2023.

• Operating expenses increased 28% to IDR 1.0 trillion, mainly due to technology and promotional investments.

• Equity increased 20% to IDR 5.2 trillion, driven by a capital injection of IDR 1.3 trillion from shareholders.

Outlook and guidance

• Optimistic for 2025, targeting continued growth in digital retail and MSME segments, with plans to expand loan distribution and third-party funds.

• Focus on ecosystem synergy, new product launches, and technology-driven operational efficiency.

• Indonesian economy projected to grow 4.7–5.5% in 2025, supporting banking sector expansion.