STOCK TITAN

BRI Reaches Profit of IDR 39.31 Trillion in Q3 2022

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

On November 16, 2022, PT Bank Rakyat Indonesia (BRI) announced a net profit of IDR 39.31 trillion for Q3 2022, marking a 106.14% Year-on-Year growth. Total assets grew by 4.00% YoY to IDR 1,684.60 trillion. Loans and financing amounted to IDR 1,111.48 trillion, a 7.92% increase, with MSME loans comprising 84.20% of the total. BRI's NPL ratio stands at 3.09%, reflecting robust risk management.

Positive
  • Net profit increased by 106.14% YoY to IDR 39.31 trillion.
  • Total assets rose by 4.00% YoY to IDR 1,684.60 trillion.
  • Total loans and financing grew 7.92% YoY to IDR 1,111.48 trillion.
  • MSME loans increased to IDR 935.86 trillion, representing 84.20% of the loan portfolio.
  • NPL ratio improved to 3.09% with an NPL coverage of 278.79%.
Negative
  • None.

JAKARTA, Indonesia, Nov. 16, 2022 /PRNewswire/ -- PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI)  recorded a net profit of IDR 39.31 trillion in Q3 2022.  "In 9 months, BRI managed to record 106.14% Year-on-Year (YoY) net profit growth with total assets increasing 4.00% YoY to IDR 1,684.60 trillion," conveyed Sunarso, President Director of BRI.

In Q3 2022, BRI's total loans and financing reached IDR 1,111.48 trillion (7.92% YoY growth). BRI's MSME loan portfolio increased by 9.83% YoY from IDR 852.12 trillion in Q3 2021 to IDR 935.86 trillion in Q3 2022, making the proportion of MSME loans to 84.20%.

"Considering that 97% of jobs in Indonesia come from the MSME segment, BRI will continue to encourage the recovery and growth of the Indonesian economy by empowering MSMEs to continue to grow thus opening jobs for the community," said Sunarso.

BRI's success in carrying out the intermediary function, balanced with good risk management, was reflected in BRI's consolidated NPL ratio of 3.09%. BRI's NPL coverage was recorded at 278.79%, increasing from Q3 2021's of 252.86%. BRI's ability to maintain asset quality was also reflected in the declining Loans at Risk of 19.28% in Q3 2022, compared to last year's 25.62%.

Furthermore, BRI's third-party funds (DPK) recorded growth to IDR 1,139.77 trillion in Q3 2022 with Low-cost funds (CASA) being the main growth driver of BRI's DPK growth. The proportion of consolidated CASA was recorded at 65.43%, increasing from 59.60% in Q3 2021.

In line with the G20's priority issues, BRI is committed to become a 'Champion of Financial Inclusion' by 2025. "BRI has prepared a hybrid bank strategy to encourage financial that include the Ultra-Micro (UMi) Ecosystem Integration and expansion of BRILink Agent services," added Sunarso.

Since its establishment, the UMi Holding has had positive impacts on Indonesia's economy, integrating 28.1 million customers with a total outstanding financing of IDR 196.6 trillion. The UMi Service Center co-location or "Senyum", reached 1,003. In addition, PNM Mekaar's customers, now members of BRILink Agents, have reached 47.2 thousand and served roughly 799 million financial transactions, with a transaction volume of IDR 963 trillion.

"BRI will continue to maintain positive performances to continue to grow and become more resilient," concluded Sunarso.

For more information about Bank BRI, visit www.bri.co.id.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/bri-reaches-profit-of-idr-39-31-trillion-in-q3-2022--301679933.html

SOURCE PT Bank Rakyat Indonesia Tbk (BRI)

FAQ

What was BRI's net profit for Q3 2022?

BRI recorded a net profit of IDR 39.31 trillion for Q3 2022.

How much did BRI's total assets increase in Q3 2022?

Total assets increased by 4.00% YoY to IDR 1,684.60 trillion.

What is the growth rate of BRI's MSME loan portfolio?

BRI's MSME loan portfolio grew by 9.83% YoY, reaching IDR 935.86 trillion.

What is BRI's NPL ratio as of Q3 2022?

BRI's NPL ratio stands at 3.09% as of Q3 2022.

How much did BRI's third-party funds grow in Q3 2022?

BRI's third-party funds reached IDR 1,139.77 trillion in Q3 2022.

BANK RAKYAT UNSP/ADR B

OTC:BKRKY

BKRKY Rankings

BKRKY Latest News

BKRKY Stock Data

42.04B
3.01B
0.06%
Banks - Regional
Financial Services
Link
United States of America
Jakarta