BRI Reaches USD 1.66 Billion Net Profit in the First Half of 2022
Bank Rakyat Indonesia (IDX: BBRI) reported a remarkable net profit of USD 1.66 billion for the first half of 2022, nearly doubling year-on-year at 98.38% growth. Total assets increased by 6.37% to USD 110.19 billion. The bank's loan disbursement reached USD 73.65 billion, an 8.75% YoY growth, with substantial contributions from the micro segment. BRI maintained a controlled NPL ratio of 3.26% and a robust capital adequacy ratio of 25.06%. The bank has also been recognized globally, ranked as the largest public company in Indonesia by Forbes.
- Net profit rose to USD 1.66 billion, up 98.38% YoY.
- Total assets increased to USD 110.19 billion, a 6.37% growth.
- Loan disbursement reached USD 73.65 billion, growing 8.75% YoY.
- Micro segment loans grew significantly by 15.07%.
- NPL ratio maintained at a controlled 3.26% with strong coverage at 266.6%.
- Capital Adequacy Ratio at a robust 25.06%.
- None.
JAKARTA, Indonesia, Aug. 3, 2022 /PRNewswire/ -- Bank Rakyat Indonesia (IDX: BBRI), one of the largest financial groups in Indonesia, announced a net profit of USD 1.66 billion or grew almost double
BRI President Director Sunarso said, "We focus on liquidity, especially the growth of low-cost funds; manage the loan quality, especially the restructured loan, while maintaining adequate provision to mitigate the credit risk; and furthermore accelerate business process reengineering to increase productivity and improve operational efficiency."
BRI disbursed USD 73.65 billion worth of loans, a growth of
BRI's selective growth strategy focused on MSME, especially the utterly potential Ultra Micro and Micro segment, as the primary source of growth. This aligns with BRI's core competence, leveraging on BRI's vast experience and advanced infrastructure in terms of the physical and digital network, human capital, and progressive digital initiatives. In conjunction, BRI applied the soft-landing strategy to anticipate the deterioration of the loan quality ahead of the end of Indonesia's FSA restructuring relaxation period by March 2023.
BRI's ability to distribute loans with prudent risk management was reflected in the controlled NPL ratio of
Furthermore, Third Party Funds (DPK) grew
BRI's loan disbursements are supported by ample liquidity, seen from the consolidated LDR of banks maintained at
BRI's exceptional performance has also received global recognitions, most notably:
a) Forbes Global 2000 World's Largest Public Companies: named BRI as the largest public company in Indonesia in 2022, ranked 349th globally.
b) The Banker: The Best Bank in Indonesia and ranked 104th globally.
c) The Asset Triple A: The Best SME Banker of The Year for Sunarso, and The Best Treasury and Working Capital – SME for BRI.
"These achievements encourage BRI to continue delivering the best performance and maintaining its position as a prominent financial institution in Indonesia," said Sunarso.
Furthermore, there are 45 million ultra-micro entrepreneurs in need of new or additional funding, of which only 15 million have already received financial assistance. Of the 30 million unreached individuals, 5 million rely on money lenders with 100
"BRI will secure its sustainability with a strong engine of growth to provide financial support to the ultra-micro segments that have not been reached yet," concluded Sunarso.
Visit www.bri.co.id for more information.
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SOURCE PT Bank Rakyat Indonesia Tbk (BRI)
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