G20 SOE Conference: Successfully Accelerating Financial Inclusion, BRI Receive Acknowledgement from Harvard Kennedy Professor

Rhea-AI Summary

PT Bank Rakyat Indonesia (Persero) Tbk received recognition from Harvard Kennedy School's Professor Jay K. Rosengard for its role in advancing financial inclusion and ESG practices in Indonesia. During the TIIWG Road to G20 conference on October 17, 2022, Rosengard praised BRI's impact on transforming Indonesia's agricultural sector, citing its significant contribution toward MSMEs growth. BRI's innovations, like AgenBRILink, have enhanced access to financial services, targeting an inclusion rate of 83-84%. In H1 2022, BRI recorded a profit of Rp24.88 trillion, maintaining its status as the largest bank in assets in Indonesia.

Positive

• Recognition for advancing financial inclusion and ESG implementation.
• Significant profit of Rp24.88 trillion in the first half of 2022.
• MSMEs lending portion reached 83% of total lending, equating to Rp920 trillion.
• Innovations like AgenBRILink improved access for 77% of rural areas.

Negative

• None.

BALI, Indonesia, Oct. 21, 2022 /PRNewswire/ -- PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) received an appreciation from an Adjunct Lecturer of Harvard Kennedy School, Professor Jay K. Rosengard for their contribution in promoting the acceleration of financial inclusion and ESG implementation in Indonesia. Rosengard conveyed the statement during The Role of SOEs in Broadening Financial Inclusion on 'Trade Investment & Industry Working Group (TIIWG) Road to G20: SOE International Conference' in Bali, October 17th, 2022.

BRI is considered to successfully execute a commitment to financial inclusivity and encourage MSMEs growth in Indonesia through financial disbursement. Rosengard stated, "When agricultural technology began to penetrate, BRI played an important role in enabling financial aid. The farmers then could adopt the innovation and create a green revolution perspective, shifting Indonesia from the world's largest rice importer to a net exporter in 20 years." Rosengard also praised BRI for excellently implementing ESG principles which have contributed significantly to MSMEs sustainable growth. "BRI is a successful phenomenon of Green Revolution and is the world's biggest and most successful profitable micro banking. It's a great untold story," said Rosengard.

BRI also created numerous innovations. Including AgenBRILink, a branchless banking service that managed to cover 77% of rural areas in Indonesia per September 2022, also Agen Laku Pandai and Holding Ultra Mikro (UMi). Kartika Wirjoatmodjo, Vice Minister II State-Owned Enterprises of Indonesia, considered those innovations to potentially escalate financial inclusivity up to 83-84%. Wirjoatmodjo also stated that 30 million potential customers could not access the formal financial system. "To address this unbanked population, we have integrated three entities: BRI, Pegadaian, and PNM, into a UMi holding. We have established an integrated one-stop service (co-location SENYUM) where customers can receive various financing products and services from one place," said Wirjoatmodjo.  

Within the first half of 2022, BRI effectively recorded a profit of Rp24.88 trillion and partially contributing to the government through dividends and taxes. After more than twenty years, BRI has grown into the largest bank by assets and the major credit distribution for MSMEs in Indonesia, demonstrated by the MSMEs lending portion in BRI that reached 83% of the total lending, or equal to Rp920 trillion in Q2 of 2022.

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/g20-soe-conference-successfully-accelerating-financial-inclusion-bri-receive-acknowledgement-from-harvard-kennedy-professor-301655860.html

SOURCE PT Bank Rakyat Indonesia Tbk (BRI)

FAQ

What recognition did BRI receive from Harvard Kennedy School?

BRI was recognized by Professor Jay K. Rosengard for its contributions to financial inclusion and ESG implementation.

What was BRI's profit in the first half of 2022?

BRI recorded a profit of Rp24.88 trillion in the first half of 2022.

How much of BRI's lending portfolio is dedicated to MSMEs?

BRI's MSMEs lending portion reached 83% of its total lending, amounting to Rp920 trillion.

What is the goal of BRI's financial inclusion initiatives?

BRI aims to escalate financial inclusivity in Indonesia to 83-84% through various innovations.

When did BRI receive the recognition from Professor Rosengard?

BRI received recognition on October 17, 2022, during the TIIWG Road to G20 conference.