After Completing Share Buybacks of IDR 3 Trillion, BRI Adds Another IDR 1.5 Trillion
On February 7, 2023, PT Bank Rakyat Indonesia (Persero) Tbk. (IDX: BBRI) announced a new share buyback program totaling up to IDR 1.5 trillion. This initiative follows the completion of a previous buyback program worth IDR 3 trillion, where 647,385,900 shares were repurchased. The new buybacks will occur over a maximum of 18 months post the Annual General Meeting of Shareholders 2023. BRI aims to use the repurchased shares as incentives for employees to enhance engagement and maintain sustainable growth. Notably, BRI reported a 106.14% YoY profit growth to IDR 39.31 trillion in Q3 2022, supported by strong capital adequacy and low non-performing loans.
- Implementation of a IDR 1.5 trillion share buyback, enhancing shareholder value.
- 106.14% YoY profit growth to IDR 39.31 trillion in Q3 2022, reflecting strong financial performance.
- Use of buyback shares as employee incentives, promoting engagement and loyalty.
- None.
The new share buyback plan was announced at the end of
To further maintain the company's sustainability and long-term success, the shares from the buybacks will be given as incentives to BRI's employees and management. In Q3 2022, BRI was able to make a profit of
Moving forward, BRI President Director Sunarso, is optimistic that BRI will maintain its positive performance which is supported by four main factors. "The first factor comes from a new source of growth, the integration of the ultra-micro (UMi) holdings. Other factors include a strong capital as reflected in BRI's consolidated capital adequacy ratio (CAR) of
"The main purpose of the share buybacks is to increase employee engagement. As we looked at the cost of the buybacks and employees' welfare, we were able to see a match between the two. Since BRI has the capabilities for the share buybacks while the demand for employees welfare by giving shares also exists, we have decided to do the share buybacks," concluded Sunarso.
More information about Bank BRI can be accessed at www.bri.co.id
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