BRI Emerges as Indonesia's Highest-Ranked Company in Forbes Global 2000

Rhea-AI Summary

PT Bank Rakyat Indonesia (BRI) has been recognized as the largest company in Indonesia in the Forbes Global 2000 list for 2024, ranking at 308 globally. BRI's notable metrics include $14.95 billion in revenue, $3.6 billion in profits, $125.45 billion in assets, and $46.5 billion in market value. The company's Q1 2024 financial performance saw profit growth of IDR 15.98 trillion and a 10.89% year-over-year increase in loan disbursement to IDR 1,308.65 trillion. Additionally, third-party funds grew by 12.80% to IDR 1,416.21 trillion, and total assets increased by 9.11% to IDR 1,989 trillion. BRI's capital adequacy ratio stands at 23.97%, with an NPL coverage ratio of 214.26%.

Positive

• BRI ranked 308th globally in the Forbes Global 2000 list, making it the highest-ranked Indonesian company.
• BRI reported $14.95 billion in revenue and $3.6 billion in profits.
• Total assets grew to $125.45 billion, with a market value of $46.5 billion.
• Q1 2024 profits increased by IDR 15.98 trillion.
• Loan disbursement grew 10.89% year-over-year to IDR 1,308.65 trillion.
• BRI's third-party funds increased by 12.80% to IDR 1,416.21 trillion.
• Total assets rose by 9.11% to IDR 1,989 trillion.
• Strong capital adequacy ratio (CAR) of 23.97%.
• NPL coverage ratio maintained at 214.26%.

Negative

• None.

JAKARTA, Indonesia, June 18, 2024 /PRNewswire/ -- PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) proudly announce its recognition as the largest company in Indonesia according to the prestigious Forbes Global 2000 for 2024. The list, published by Forbes International, a leading authority in global financial and business media, was released in New York on Thursday, June 13. The Global 2000 ranks the world's largest companies based on four key metrics: sales, profits, assets and market value, each weighted equally.

According to Forbes International's official website, nine companies are from Indonesia, with BRI holding the top position. BRI is ranked at 308, followed by Mandiri (373), BCA (457), Telkom Indonesia (912), BNI (944), Bayan Resources (1,194), Chandra Asri Petrochemical (1,591), Amman Mineral (1,605) and Adaro Energy (1,738).

"The annual Forbes Global 2000 list reflects the world's largest companies that are driving markets, along with growing industries and emerging trends," said Hank Tucker, Forbes writer. "This year's list shows how global markets are interconnected and highlights the ongoing trend of artificial intelligence, which is reflected in the rising ranks of semiconductor companies," he added.

The list includes performance data spanning the past 12 months through May 17, 2024. BRI's impressive ranking of 308 outperforms other multinational companies including Starbucks, Renault, Nissan Motor, Uber, Vodafone, HP and Softbank. During this period, BRI reported revenues of $14.95 billion, profits of $3.6 billion, total assets of $125.45 billion, and a market value of $46.5 billion.

Successfully weathering economic challenges, BRI President Director Sunarso expressed both appreciation and pride in this achievement, "Once again, the international community has recognized BRI's robust performance and its pivotal role as a state-owned enterprise with significant global impact."

In terms of performance, BRI recorded positive profit growth of IDR 15.98 trillion in Q1 2024. BRI also disbursed loans amounting to IDR 1,308.65 trillion, growing 10.89% year-over-year. Of these loans, 83.25%, or IDR 1,089.41 trillion, are for the MSME segment.

Meanwhile, BRI's third-party funds grew faster by 12.80% to IDR 1,416.21 trillion. The company's total assets also increased by 9.11% to IDR 1,989 trillion. From a capital perspective, BRI is supported by a strong CAR of 23.97% with a loan-to-deposit ratio (LDR) of 83.28%. The company also maintains an NPL coverage ratio of 214.26%.

For more information about Bank BRI, please visit https://www.bri.co.id/

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SOURCE PT Bank Rakyat Indonesia Tbk (BRI)

FAQ

What is BRI's global ranking in the Forbes Global 2000 list for 2024?

BRI is ranked 308th globally in the Forbes Global 2000 list for 2024.

How much revenue did BRI report in the Forbes Global 2000 list for 2024?

BRI reported $14.95 billion in revenue.

What are BRI's profits according to the Forbes Global 2000 list for 2024?

BRI reported profits of $3.6 billion.

What is BRI's market value as per the Forbes Global 2000 list for 2024?

BRI's market value is $46.5 billion.

How much did BRI's loan disbursement grow in Q1 2024?

BRI's loan disbursement grew by 10.89% year-over-year to IDR 1,308.65 trillion in Q1 2024.

What is BRI's total asset value as of the Forbes Global 2000 list for 2024?

BRI's total asset value is $125.45 billion.

What are BRI's third-party funds growth figures in Q1 2024?

BRI's third-party funds grew by 12.80% to IDR 1,416.21 trillion.

What is BRI's capital adequacy ratio (CAR) as mentioned in the Forbes Global 2000 list for 2024?

BRI's capital adequacy ratio (CAR) is 23.97%.