Highlights of BRI Corporate Actions 2022: Green Bonds Issuance to Interim Dividends Distribution
PT. Bank Rakyat Indonesia (BRI) Tbk. reported significant achievements in 2022, including the distribution of interim share dividends totaling IDR 8.63 trillion or IDR 57 per share on December 30, 2022. The bank also initiated a share buyback program valued at IDR 3 trillion, aimed at enhancing employee incentives. Furthermore, BRI issued IDR 5 trillion in green bonds, oversubscribed by 4.4 times, and acquired an additional 30% stake in Danareksa Investment Management, boosting its ownership to 65%.
- Interim dividends of IDR 8.63 trillion distributed, enhancing shareholder returns.
- Share buyback worth IDR 3 trillion approved to incentivize employees and support share price.
- Issuance of IDR 5 trillion in green bonds oversubscribed by 4.4 times, indicating strong investor confidence.
- Acquisition of Danareksa Investment Management to strengthen investment services and align with growth strategy.
- None.
JAKARTA, Indonesia, Jan. 4, 2023 /PRNewswire/ -- PT. Bank Rakyat Indonesia (BRI) Tbk. (IDX: BBRI) made positive achievements in 2022 from announcing the distribution of interim share dividends of IDR 8.63 trillion or IDR 57 per share to carrying out various major corporate actions throughout the year.
BBRI Share Buybacks of IDR 3 trillion
BRI was in the process of buying back shares with a maximum value of IDR 3 trillion. Through the Annual General Meeting of Shareholders (AGMS) on March 1, 2022, BRI obtained shareholders' approval to carry out the buyback of BBRI shares. The share buybacks were then carried out within 18 months of the approval from March 1, 2022, to August 31, 2023. In accordance with the submitted Disclosure of Information, the shares are used for the share ownership program for BRI employees.
BRI Director of Finance, Viviana, stated that there were several things being observed in relation to this corporate action. "Aside from providing long-term performance incentives for high-performing employees, we believe BBRI's share price is still undervalued when compared to the company's ever-increasing achievements. This makes us continue to buy back shares."
Issued IDR 5 Trillion of Green Bonds and Was Oversubscribed 4.4 Times
In June 2022, the company issued Green Bonds I with a target of raising IDR 15 trillion in total, and the total Phase I emissions of IDR 5 trillion in 2022. These bonds are issued in stages over the next three years until 2024. At least 70 percent of the proceeds from the fundraising are allocated to business activities or other activities included in the criteria for new, ongoing, or completed environmental business activities according to the bond framework.
As a result of the bonds' issuance, BRI was oversubscribed by up to 4.4 times in 2022, proving that BRI is continuously strengthening the implementation of ESG principles in terms of funding or liabilities.
Acquisition of Danareksa Investment Management
On November 30, 2022, BRI and Danareksa signed an agreement to purchase Danareksa Investment Management (DIM) shares from Danareksa with a total of 9 million shares, or equivalent to
The objective of this corporate action is in line with the company's vision to become "The Most Valuable Banking Group in Southeast Asia" and "The Champion of Financial Inclusion" in 2025, where BRI aims to become an integrated financial services group. One of the efforts is by optimizing investment management services in the BRI ecosystem, namely Danareksa Investment Management (DIM).
Distribution of IDR 8.63 Trillion Interim Dividends
BRI announced the distribution of interim share dividends of IDR 8.63 trillion, or IDR 57 per share on December 30, 2022. Of the total value, approximately IDR 4.59 trillion will go the state treasury, and the remaining IDR 4.04 trillion will be distributed to public investors.
President Director of BRI, Sunarso, said that the distribution of the interim dividends is a clear proof of BRI's commitment as a state-owned company to deliver a real contribution for Indonesia. "I strongly emphasize that BRI is indeed the people's bank, meaning that we do business with the people and processed according to the people. BRI's profits are returned to the people through taxes and dividends. As BRI works with the people, is managed according to the people, and the profits are returned by the people, BRI has become a bank that is supported by the people. Every achievement cannot be separated from the support of all parties."
More information about Bank BRI can be accessed at www.bri.co.id.
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SOURCE PT Bank Rakyat Indonesia Tbk (BRI)
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