Public Expose Live 2023: BRI Closes 2023 with Positive Financial Performance
JAKARTA, Indonesia, Dec. 4, 2023 /PRNewswire/ -- PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI) is confident as it approaches the end of 2023, achieving impressive financial performance. Sunarso, BRI President Director, shared this optimistic outlook during the Public Expose Live 2023 in Jakarta, Indonesia.
The event organized by the Indonesia Stock Exchange in collaboration with the Indonesia Central Securities Depository and the Indonesia Clearing and Guarantee Corporation, was attended by Catur Budi Harto, BRI Vice President Director; Agus Sudiarto, BRI Director of Risk Management; and A. Solichin Lutfiyanto, Director of Compliance.
BRI's assets grew by 9.93% YoY to IDR 1,851.97 trillion, with a profit of IDR 44.21 trillion, marking a 12.47% YoY increase. "BRI Group's credit distribution grew by 12.53% YoY to IDR 1,250.72 trillion, surpassing targets and expected to continue through 2023," stated Sunarso. "MSME credit grew 11.01% to IDR 1,038.90 trillion in Q3 2023, comprising 83.06% of BRI's credit portfolio."
Furthermore, BRI managed credit with improved NPL from 3.09% to 3.07% and a robust 228.65% coverage. Third-Party Collections reached IDR 1,290.29 trillion, growing by 13.21% YoY, mainly from Low-Cost Funds (63.64% or IDR 821.14 trillion). Focusing on Low-Cost Funds and digitalization enhanced efficiency as reflected in improved ratios like OER (68.36% to 68.07%) and CIR (42.55% to 41.28%). BRI's sustainable growth was supported by strong liquidity and capital, maintaining a balanced Loan-to-Deposit Ratio (87.76%) and CAR (27.48%).
The sustainable growth strategy involved empowerment programs and targeting new growth sources through Ultra Micro (UMi) Holding, collaborating with Permodalan Nasional Madani (PNM) and Pegadaian. In two years, UMi Holding has integrated over 37.3 million customers, marking a 17.3% YoY growth. Outstanding loans reached IDR 614.9 trillion, reflecting a 9.5% YoY increase.
BRI's commitment to sustainable financing is evident in the IDR 750.9 trillion loans disbursed for sustainable business activities, constituting 66.1% of total disbursements—a notable 11.9% YoY increase.
To further push financial inclusion and literacy, BRI has developed Super App BRImo. Since 2019, BRImo has garnered 30.4 million users and an IDR 3.353 trillion transaction volume, marking a 60.83% YoY growth.
"Through ongoing transformation and strategic execution, BRI is confident in creating sustained economic and social value while delivering optimal returns to shareholders," concluded Sunarso.
More information about BRI at www.bri.co.id.
SOURCE PT Bank Rakyat Indonesia Tbk (BRI)
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