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BANK RAKYAT UNSP/ADR B - BKRKY STOCK NEWS

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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.

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On April 12, 2023, PT Bank Rakyat Indonesia (Persero) Tbk. (IDX: BBRI) announced the distribution of cash dividends totaling IDR 34.89 trillion, following the 2023 Annual General Meeting of Shareholders. This payout, representing an 85% dividend payout ratio from a consolidated net profit of IDR 51.4 trillion, reflects a significant 67.15% YoY growth. The dividend includes IDR 8.60 trillion paid as interim dividends on January 27, 2023. Furthermore, IDR 7.67 trillion will be retained for future growth, ensuring the Capital Adequacy Ratio (CAR) remains at about 20%. BRI's management emphasizes this distribution as a commitment to economic and social value for stakeholders.

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On April 7, 2023, PT Bank Rakyat Indonesia (Persero) Tbk. announced a partnership with MIND ID, a State-Owned Enterprise in Indonesia, to enhance liquidity management through Notional Pooling and Short-Term Working Capital Loan Facilities. The agreement, signed on March 16, 2023, aims to provide efficient cash management for MIND ID Group companies via BRI's cash management platform. This service enables daily monitoring of consolidated balances in Rupiah and foreign currencies, facilitating easy fund transfers among subsidiaries. The Notional Pooling feature allows companies to manage corporate liquidity effectively by tapping into excess liquidity from their consolidated balance. Additionally, BRI offers integrated transaction solutions through the Qlola platform, promoting financial inclusion in Indonesia.

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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.

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On March 9, 2023, PT Bank Rakyat Indonesia (BRI) received two prestigious awards at the RBI Asia Trailblazer Awards 2023 held in Singapore. BRI was recognized for 'Best in Current Account Offering' and received 'Highly Commended' for 'Excellence in Mass Affluent Banking.' These accolades highlight BRI's commitment to innovation and customer service, following a successful year marked by a 67.15% YoY net profit growth to IDR 51.4 trillion. Additionally, BRI saw a 10.16% YoY increase in commission-based income, totaling IDR 18.8 trillion. The bank aims to establish itself as 'The Most Valuable Banking Group in Southeast Asia' by 2025.

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PT Bank Rakyat Indonesia (BBRI) reported a remarkable IDR 51.4 trillion net profit for 2022, a 67.15% YoY increase. Total assets reached IDR 1,865.64 trillion, growing 11.18% YoY. Key improvements included a reduction in the Operating Expenses to Operating Income Ratio to 69.10%, alongside a decrease in the cost of credit from 3.78% to 2.55%. The bank's deposits surged 14.85% YoY to IDR 1,307.88 trillion, with a CASA proportion of 66.70%. Notably, BRI disbursed IDR 252.38 trillion of People's Business Credit in 2022, enhancing its liquidity and risk management capabilities.

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On February 7, 2023, PT Bank Rakyat Indonesia (Persero) Tbk. (IDX: BBRI) announced a new share buyback program totaling up to IDR 1.5 trillion. This initiative follows the completion of a previous buyback program worth IDR 3 trillion, where 647,385,900 shares were repurchased. The new buybacks will occur over a maximum of 18 months post the Annual General Meeting of Shareholders 2023. BRI aims to use the repurchased shares as incentives for employees to enhance engagement and maintain sustainable growth. Notably, BRI reported a 106.14% YoY profit growth to IDR 39.31 trillion in Q3 2022, supported by strong capital adequacy and low non-performing loans.

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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%.

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FAQ

What is the current stock price of BANK RAKYAT UNSP/ADR B (BKRKY)?

The current stock price of BANK RAKYAT UNSP/ADR B (BKRKY) is $13.57 as of November 22, 2024.

What is the market cap of BANK RAKYAT UNSP/ADR B (BKRKY)?

The market cap of BANK RAKYAT UNSP/ADR B (BKRKY) is approximately 42.0B.

What is the main focus of PT Bank Rakyat Indonesia (BRI) Persero Tbk?

BRI focuses on promoting financial literacy and inclusion through its flagship mobile banking app, BRImo.

What are some key features of BRImo?

BRImo offers multi-currency savings, international remittance, and QR code-based payments, benefiting MSMEs and retail clients.

How many users does BRImo currently have?

As of December 2023, BRImo has a user base of 31.6 million.

What is the transaction value completed by BRImo?

BRImo has completed transactions worth IDR 4.158 trillion as of December 2023.

What sets BRI apart in Indonesia's banking sector?

BRI's commitment to customer excellence, innovation, and sustainability sets it apart as a key player in Indonesia's banking sector.

BANK RAKYAT UNSP/ADR B

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42.04B
3.01B
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