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PT Bank Rakyat Indonesia (BRI) Persero Tbk (IDX: BBRI) is a leading financial institution in Indonesia, with a strong focus on promoting financial literacy and inclusion through its flagship mobile banking app, BRImo. Launched in 2019, BRImo has rapidly grown its user base to 31.6 million and has completed transactions worth IDR 4.158 trillion as of December 2023. The app offers a wide range of features including multi-currency savings, international remittance, and QR code-based payments, empowering MSMEs and retail clients. BRI's commitment to customer excellence, innovation, and sustainability sets it apart as a key player in Indonesia's banking sector.
PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) has initiated a share buyback program in response to stock price adjustments post Q1 2024 Financial Report. The buyback allows repurchasing up to IDR 1.5 trillion worth of BBRI shares within 18 months, aiming to signal a stronger company position. Despite short-term corrections, BRI focuses on long-term growth and benefits for shareholders, emphasizing prudent banking principles and MSME empowerment.
BRI Reports Robust Profit of IDR 15.98 Trillion in Q1 2024. PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) announced a strong profit despite global economic challenges. President Director Sunarso emphasized domestic resilience and growth, with a focus on supporting domestic initiatives. BRI's support for the SME sector remained strong, with a significant increase in loans directed towards SMEs, resulting in a rise in BRI's assets. In terms of liabilities, BRI saw an increase in Third-Party Funds and dominated the deposit portfolio through Current Account Savings Account. The company maintained strong financial ratios, including a robust Loan to Deposit Ratio and Capital Adequacy Ratio, while achieving substantial growth in Fee Based Income and expanding its user base through BRImo and AgenBRILink.
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