Achieved IDR 45.36 Trillion Profit in Q3 2024, BRI Strengthens Performance Fundamentals
JAKARTA, Indonesia, Oct. 31, 2024 /PRNewswire/ -- PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) maintained its strong performance amidst global and domestic economic challenges, achieving a net profit of IDR 45.36 trillion in the third quarter of 2014. At the financial performance press conference on October 30, BRI President Director Sunarso said, "This achievement is a result of BRI's consistent focus on strengthening performance fundamentals and implementing strategic responses to manage market dynamics."
By September 2024, BRI had disbursed IDR 1,353.36 trillion in loans, an 8.21% year-on-year growth, of which 81.70% (IDR 1,105.70 trillion) went to the MSME segment. This growth also increased BRI's assets by 5.94% to IDR 1,961.92 trillion. "BRI is here to empower MSMEs as a crucial pillar of national economic growth," Sunarso explained, emphasizing the bank's role in building an inclusive economy.
BRI also improved asset quality, with NPL falling to 2.90% and LAR to 11.66% by Q3 2024, driven by disciplined risk management and an early warning system. The bank strengthened its reserves with an NPL coverage ratio of 215.44%. "BRI has implemented various risk mitigation measures, from selective growth to proactive credit monitoring and collaborative problem resolution," he said. On the liabilities side, BRI raised IDR 1,362.42 trillion in third-party funds (DPK), up 5.59% year-on-year. Low-cost funds (CASA) dominated at 64.17%, up from 63.64% last year.
A key driver of BRI's growth in low-cost funds is its digital transformation through the BRImo super-app, providing accessible banking anytime, anywhere. By September 2024, BRImo reached 37.14 million users, with transaction volume increasing by 35.20% year-on-year to IDR 4,034 trillion.
BRI has also expanded hybrid banking to underserved areas, with more than 1.02 million BRILink agents in 62,227 villages supporting national financial inclusion. From January to September 2024, these agents facilitated IDR 1,170 trillion in transactions from 859 million interactions.
Furthermore, BRI's performance in Q3 2024 is supported by solid liquidity (LDR of 89.18%) and capital (CAR of 26.76%). "Going forward, BRI will prudently manage liquidity to ensure readiness for global and domestic economic challenges providing room for further growth," Sunarso added.
"BRI is confident of closing 2024 on a positive note, focusing on strengthening fundamentals and building resilience to face global and domestic challenges," Sunarso concluded.
For more information on BRI, please visit www.bri.co.id
SOURCE PT Bank Rakyat Indonesia Tbk (BRI)
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