Delivering Real Contributions for Indonesia, BRI Distributes IDR 43.49 Trillion Dividends

Rhea-AI Summary

On March 13, 2023, PT Bank Rakyat Indonesia (BRI) held its Annual General Meeting, announcing a dividend distribution of IDR 43.94 trillion, representing 85% of its consolidated net profit from 2022. Shareholders will receive IDR 8.60 trillion directly, while at least IDR 23.15 trillion will be contributed to the State Treasury. BRI reported a robust net profit of IDR 51.4 trillion for 2022, reflecting a 67.15% year-on-year growth, and total assets of IDR 1,865.64 trillion. Additionally, the bank has received approval for a share buyback valued at IDR 1.5 trillion to boost employee ownership.

Positive

• Dividend distribution of IDR 43.94 trillion reflects strong profitability.
• Net profit increased by 67.15% year-on-year to IDR 51.4 trillion.
• Total assets grew by 11.18% year-on-year to IDR 1,865.64 trillion.
• Approval for a share buyback of IDR 1.5 trillion to enhance employee ownership.

Negative

• None.

JAKARTA, Indonesia, March 15, 2023 /PRNewswire/ -- PT Bank Rakyat Indonesia (Persero) Tbk. (IDX: BBRI) held the Annual General Meeting of Shareholders (AGM) 2023 on 13 March 2023 in Jakarta, Indonesia. In the AGM 2023, BRI distributed dividends worth 85% of the consolidated net profit from 2022, valuing IDR 43.94 trillion. The remaining 15%, or IDR 7.67 trillion, will be used as retained earnings.

The cash dividends distributed include IDR 8.60 trillion paid to shareholders, while the remaining of at least IDR 34.89 trillion were given to BRI shareholders.

"At least 53.19% or IDR 23.15 trillion of the dividends earned will be deposited to the State Treasury. This proves our contribution to the country, as BRI is a bank that serves the people, conducts business with the people, and operates in a way that benefits the people. The profits are returned to the people of Indonesia through dividend payments and taxes," said Sunarso, BRI's President Director.

Despite the global economic uncertainty, BRI had strong performance in 2022 with a recorded net profit of IDR 51.4 trillion, growing 67.15% Year-on-Year (YoY). The total assets also experienced 11.18% YoY growth, reaching 1,865.64 trillion in 2022.

Furthermore, BRI has been granted approval to repurchase shares listed on the Indonesia Stock Exchange with a maximum value of IDR 1.5 trillion. "The buyback is intended to increase the ownership ratio of BRI shares by employees, which is expected to enhance their sense of ownership and encourage them to contribute to the company's goals and achievements," explained Sunarso.

BRI's AGM 2023 covered eight agendas, 3 of which are the distribution of dividends, authorization to buy back shares up to IDR 1.5 trillion, and the appointment of a new board member. The meeting also had five other agendas, which include approving annual reports, setting remuneration for directors and commissioners, appointing auditors, approving resolutions and recovery plans, as well as reviewing the use of funds from the company's bond offerings in 2021.

"The company is committed to making 2022 to 2024 a transitional period for business recovery while strengthening its internal capacity to accelerate business growth. We will focus on strengthening core aspects, including our business and enablers, to maintain sustainable growth," concluded Sunarso.

Visit www.bri.co.id for more information about BRI.

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SOURCE PT Bank Rakyat Indonesia Tbk (BRI)

FAQ

What is the total dividend amount distributed by BRI in 2023?

BRI distributed a total dividend of IDR 43.94 trillion in 2023.

When was BRI's Annual General Meeting held?

BRI's Annual General Meeting was held on March 13, 2023.

What was BRI's net profit for 2022?

BRI's net profit for 2022 was IDR 51.4 trillion.

How much of the dividend will be contributed to the State Treasury?

At least IDR 23.15 trillion of the dividends will be deposited to the State Treasury.

What is the purpose of BRI's share buyback approval?

The share buyback is intended to increase employee ownership and encourage their contributions.