Heaptalk, Jakarta — PT Krom Bank Indonesia Tbk (Krom Bank) announced its audited financial results for 2024, showcasing exceptional growth across key performance indicators. Net interest income surged by 125% year-on-year (Y-o-Y) to US$57 million, or around Rp965 billion, up from US$25 million, or equal to Rp429 billion in 2023, fueled by a significant expansion in loan disbursements.
Anton Hermawan, President Director of Krom Bank, stated, “Our performance in 2024 reflects Krom’s strengthening role as an agile and highly scalable digital bank. These results are the outcome of a prudent yet progressive business strategy focused on delivering financial solutions that are not only digital-friendly but also truly aligned with our customers’ evolving needs.”
Total assets rose 83% Y-o-Y to Rp6.65 trillion, while total loans grew by 131% Y-o-Y to Rp4.25 trillion in 2024 from Rp1.83 trillion the previous year. This growth was primarily supported by a significant increase in third-party funds (TPF), which nearly doubled ninefold to Rp3.16 trillion in 2024 from Rp348 billion in 2023—driven by savings and time deposits growth.
Despite aggressive expansion, the bank reported a stable net profit of Rp124 billion, maintaining profitability while strengthening its provisioning ratio to mitigate future risks. Krom maintained asset quality with a gross Non-Performing Loan (NPL) ratio of 3.12%. The bank increased its loan-loss provisioning ratio to 6.46%, up from 4.67% a year earlier, reflecting a proactive risk management approach.
The Krom Bank also maintained a robust capital position, with a Capital Adequacy Ratio (CAR) of 82.63%—significantly above the regulatory minimum, underscoring Krom’s strong capital foundation for sustainable growth. Operational efficiency remained a key strength, with the bank recording a low Cost-to-Income Ratio (CIR) of 18.07%. A high Net Interest Margin (NIM) of 20.01% reinforced its strong intermediation profitability.
In 2024, Krom accelerated its investment in digital innovation, launching services such as QRIS and BI Fast. The bank continues to focus on customer acquisition and digital service development, aiming to offer increasingly relevant financial products and expand access through partnerships and strategic networks.
During the fiscal year ending December 31, 2024, Krom received multiple accolades, including:
- The Best Conventional Bank (KBMI 1) – Asset Class < IDR 10 Trillion by Infobank Media Group
- The Best Performing Bank 2024 by The Finance, based on 2022–2024 financial performance
- Digital Banking Award 2024 for Data Dimension in the Pure Digital Bank category by Investor Trust
“We are ready to continue our expansion, deliver progressive innovations, and enhance digital connectivity to realize our vision. Krom is committed to becoming the trusted digital financial platform that connects customers with seamless, relevant, and value-driven financial solutions,” Anton concluded.
