BRI Leads to an Outstanding Financial Performance Through Its Transformation
PT Bank Rakyat Indonesia (Persero) Tbk has initiated the BRIvolution 1.0 Transformation Program for 2018-2022, emphasizing digitalization and cultural change. This initiative aims to enhance business processes and foster new value. Minister Erick Thohir noted improvements in revenue and EBITDA margins as indicators of success. The next phase, BRIvolution 2.0, targets becoming Southeast Asia's most valuable banking group by 2025, with initiatives like establishing Ultra-Micro Holding and boosting digital services. Recent metrics include a significant rise in microcredit bookings and user growth in BRI's Super App, BRImo.
- Increased revenue and improved EBITDA margin reported.
- Microcredit bookings rose from IDR 2.5 trillion to over IDR 4 trillion monthly.
- Transaction volume for BRILink Agent exceeded IDR 1000 trillion last year.
- BRImo app saw a user increase to 20.2 million, with transaction volume of IDR 1,567 trillion.
- None.
JAKARTA, Indonesia, Oct. 17, 2022 /PRNewswire/ -- PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) has implemented the BRIvolution 1.0 Transformation Program for the 2018 to 2022 period, focusing on the digital and culture areas, to digitize existing business processes and create new values through a new business model.
"The transformation of state-owned enterprises (SOEs) is not only for human capital, business models, and business processes, but also for consolidated financial statements as parts of corporate transparency and good corporate governance," said the Minister of SOEs Erick Thohir at the 2021 BUMN Portfolio Performance Press Conference in Jakarta, Indonesia, on 28 September 2022.
The transformation is proven to boost the performance of SOEs as seen from the financial report figures, such as an increase in revenue, the earnings before interest, taxes, depreciation, and amortization (EBITDA) margin, and a decrease in the ratio of debt to total investment.
BRI President Director Sunarso revealed, "The pandemic is a turning point for the BRIvolution 2.0 to become 'The Most Valuable Banking Group in Southeast Asia and Champion of Financial Inclusion' by 2025, which includes establishing Ultra-Micro Holding (UMi Holding) as a new source of growth, accelerating the current account saving account (CASA) growth, and accelerating digital transformation."
With BRISPOT, the micro credit booking process has increased from an average of IDR 2.5 trillion monthly over IDR 4 trillion. In addition, the credit process has become much faster, from previously taking two weeks to two days. Other examples include the BRILink Agent, with a transaction volume over IDR 1000 trillion last year, and the BRImo, BRI's Super Apps, with a recorded significant growth during the pandemic of 20.2 million users and a transaction volume of IDR 1,567 trillion.
The transformation is carried out to build a performance-driven culture with a management information system supported by valid and accurate data. The system enables individuals and organizations to design and plan their own successes. BRI's task include preparing a platform for healthy competitions, a system, and rewards.
"By carrying out this transformation program, as one of the largest SOEs in Indonesia, BRI is optimistic in playing an important role in the economic recovery and the revival of the national economy," concluded Sunarso.
For more information about Bank BRI, visit www.bri.co.id
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SOURCE PT Bank Rakyat Indonesia Tbk (BRI)
