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Indonesia: BCA and Mandiri grow on corporate loans as BNI's consumer and card NPLs rise

Published Data as of IndonesiaCreditUnsecured
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Key points

Implications for lenders

BNI's credit-card NPL ratio at 4.7% and payroll-loan NPL at 1.7%, both higher than a year earlier, suggest that even salaried borrowers may be under more repayment strain. Consumer and digital lenders may want to check debt-service ratios across all of a borrower's credit lines in credit-bureau data and watch early arrears in salaried segments.

Implications

ExecutivesThe big banks' growth is corporate-led; the rise in BNI's card and consumer NPLs is a signal to watch for unsecured household credit.
InvestorsHeadline NPL ratios at the largest banks remain low; consumer-segment disclosure is uneven, so segment trends need checking bank by bank.
OperatorsRising card and payroll-loan NPLs at a large state bank suggest tighter monitoring of salaried borrowers' repayment capacity, not only of informal-sector borrowers.

Facts

BNI: loans grew 22.2% year on year, to IDR 992.5trn at end-September 2026. 1 The NPL ratio was 1.9% 2 and the loan-at-risk ratio 7.8%, down from 10.4% a year earlier. 3 In consumer lending, the NPL ratio rose to 3.2%, up from 2.6% a year earlier; 4 the payroll-loan NPL ratio to 1.7%, up from 1.3% a year earlier; 5 and the credit-card NPL ratio to 4.7%, up from 3.1% a year earlier. 6

Bank Mandiri (results presented on 23 October): bank-only loans grew 16%, to IDR 1,605.8trn at end-September 2026. 7 Corporate loans grew 22%, to about IDR 700trn, 8 while loans the bank classes as ecosystem lending (SME, micro and consumer) grew 9%, to about IDR 174trn. 9 The bank-only NPL ratio was 0.98%, down from 1.03% a year earlier. 10

BCA (press release of 28 October): loans grew 12.6%, to IDR 1,063trn at end-September 2026, 11 with corporate loans up 20.9%, to IDR 528.1trn. 12 The NPL ratio was 1.8% 13 and the loan-at-risk ratio 4.6%. 14 The release gives no consumer-loan breakdown.

Analysis

Comparison with the system: bank credit grew 13.26% in September, down from 13.65% in August, 15 and the banking-system gross NPL ratio was 2.11% in August. 16 BNI's headline NPL ratio is close to the system level, but its consumer book shows the opposite trend to the headline: consumer and card NPL ratios are higher than a year earlier while the loan-at-risk ratio has fallen.

At BCA and Mandiri, corporate lending grows fastest; Mandiri's SME, micro and consumer lending grows at less than half its corporate pace. Bank vehicle loans have been shrinking year on year (−9.7% in September). 17 Strong headline loan growth at the big banks therefore says little about household credit appetite.

Bank credit growth (y/y) (%)
0510159.492026-039.982026-0411.512026-0512.672026-0613.582026-0713.652026-0813.262026-09
Bank credit growth (y/y) (%)
2026-039.49
2026-049.98
2026-0511.51
2026-0612.67
2026-0713.58
2026-0813.65
2026-0913.26

Bank credit, y/y at month-end, as announced by Bank Indonesia after its Board of Governors meeting · Source: Bank Indonesia Board of Governors meeting results, as reported by ANTARA and others (2026-03, 2026-04, 2026-05, 2026-06, 2026-07, 2026-08, 2026-09) OJK's announced figures for April, June and July 2026 are identical.

Counterpoints and uncertainties

The BNI segment ratios come from a press report and are not broken out in the other banks' releases, so one bank's consumer trend may not represent the market. Mandiri's ratios are bank-only and its 'ecosystem' category mixes SME, micro and consumer loans. Definitions of loan-at-risk differ between banks, so the ratios are not strictly comparable.

Key figures

  1. BNI loan growth, y/y: 22.2% (to IDR 992.5trn at end-September 2026). Year-on-year growth of BNI's outstanding loans at end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: Kontan: Kredit BNI (BBNI) melonjak 22,2%, laba tumbuh 6,6% (2026-10-27)
  2. BNI NPL ratio: 1.9%. Non-performing loans / total loans, BNI, end-September 2026 (overall ratio as reported). Indonesia, single bank. Basis date: 30 Sep 2026. Source: Kontan: Kredit BNI (BBNI) melonjak 22,2%, laba tumbuh 6,6% (2026-10-27)
  3. BNI loan-at-risk ratio: 7.8% (down from 10.4% a year earlier). Loans at risk (NPL, special mention and restructured current loans) / total loans, BNI, end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: Kontan: Kredit BNI (BBNI) melonjak 22,2%, laba tumbuh 6,6% (2026-10-27)
  4. BNI consumer-loan NPL ratio: 3.2% (up from 2.6% a year earlier). Non-performing consumer loans / consumer loans, BNI, end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: Kontan: Kredit BNI (BBNI) melonjak 22,2%, laba tumbuh 6,6% (2026-10-27)
  5. BNI payroll-loan NPL ratio: 1.7% (up from 1.3% a year earlier). Non-performing payroll (employee) loans / payroll loans, BNI, end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: Kontan: Kredit BNI (BBNI) melonjak 22,2%, laba tumbuh 6,6% (2026-10-27)
  6. BNI credit-card NPL ratio: 4.7% (up from 3.1% a year earlier). Non-performing credit-card receivables / card receivables, BNI, end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: Kontan: Kredit BNI (BBNI) melonjak 22,2%, laba tumbuh 6,6% (2026-10-27)
  7. Bank Mandiri loan growth, y/y (bank only): 16% (to IDR 1,605.8trn at end-September 2026). Year-on-year growth of Bank Mandiri's bank-only outstanding loans at end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: Kontan: NPL Bank Mandiri turun jadi 0,98% pada kuartal III 2026 (2026-10-26)
  8. Bank Mandiri corporate loan growth, y/y: 22% (to about IDR 700trn). Year-on-year growth of Bank Mandiri's corporate loans at end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: CNBC Indonesia: Laba Bank Mandiri meroket 20,7% tembus Rp45,5 triliun di kuartal III (2026-10-23)
  9. Bank Mandiri SME, micro and consumer ('ecosystem') loan growth, y/y: 9% (to about IDR 174trn). Year-on-year growth of loans Bank Mandiri classes as ecosystem lending (SME, micro and consumer), end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: CNBC Indonesia: Laba Bank Mandiri meroket 20,7% tembus Rp45,5 triliun di kuartal III (2026-10-23)
  10. Bank Mandiri gross NPL ratio (bank only): 0.98% (down from 1.03% a year earlier). Gross non-performing loans / total loans, Bank Mandiri bank-only, end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: Kontan: NPL Bank Mandiri turun jadi 0,98% pada kuartal III 2026 (2026-10-26)
  11. BCA loan growth, y/y: 12.6% (to IDR 1,063trn at end-September 2026). Year-on-year growth of BCA's outstanding loans at end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: BCA press release: Kredit tumbuh 12,6%, BCA konsisten dukung perekonomian nasional (2026-10-28)
  12. BCA corporate loan growth, y/y: 20.9% (to IDR 528.1trn). Year-on-year growth of BCA's corporate loans at end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: BCA press release: Kredit tumbuh 12,6%, BCA konsisten dukung perekonomian nasional (2026-10-28)
  13. BCA NPL ratio: 1.8%. Non-performing loans / total loans, BCA, end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: BCA press release: Kredit tumbuh 12,6%, BCA konsisten dukung perekonomian nasional (2026-10-28)
  14. BCA loan-at-risk ratio: 4.6%. Loans at risk / total loans, BCA, end-September 2026. Indonesia, single bank. Basis date: 30 Sep 2026. Source: BCA press release: Kredit tumbuh 12,6%, BCA konsisten dukung perekonomian nasional (2026-10-28)
  15. Bank credit growth, September 2026 (BI): 13.26% (down from 13.65% in August). Bank credit, y/y at month-end, as announced by Bank Indonesia after its Board of Governors meeting. Indonesia, national. Basis date: 30 Sep 2026. Source: Bank Indonesia press release No. 28/233/DKom: BI-Rate Tetap 5,75%: Memperkuat Stabilitas, Mendorong Pertumbuhan Ekonomi (2026-10-21)
  16. Gross NPL ratio, banks (OJK): 2.11% (up from 2.10% in July). Gross non-performing loans / total loans, Indonesian commercial banks, as announced by OJK. Indonesian banking industry. Basis date: 31 Aug 2026. Source: Asbisindo (republishing OJK press release): OJK luncurkan RP3I 2026-2030 (2026-10-02)
  17. Bank motor-vehicle loans (KKB), y/y, September 2026: −9.7% (after −10.3% in August). Year-on-year change in outstanding bank motor-vehicle loans (KKB), BI money-supply analysis. Indonesia, commercial and rural banks (BI money-supply analysis). Basis date: 30 Sep 2026. Source: Kontan: DP 0% Diperpanjang hingga 2027, Kredit Kendaraan Bermotor Masih Lesu (2026-10-26), citing Bank Indonesia money-supply analysis

Sources

  1. BCA press release: Kredit tumbuh 12,6%, BCA konsisten dukung perekonomian nasional (2026-10-28)primary
  2. Kontan: Kredit BNI (BBNI) melonjak 22,2%, laba tumbuh 6,6% (2026-10-27)
  3. Kontan: NPL Bank Mandiri turun jadi 0,98% pada kuartal III 2026 (2026-10-26)
  4. CNBC Indonesia: Laba Bank Mandiri meroket 20,7% di kuartal III (2026-10-23)
  5. KabarBursa: Laba BBCA tembus Rp45,2 triliun, kredit naik 12,6% (9M 2026)
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