PR Newswire
16 Nov 2022, 17:10 GMT+10
JAKARTA, Indonesia, Nov. 16, 2022 /PRNewswire/ -- PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI) recorded a net profit of IDR 39.31 trillion in Q3 2022. "In 9 months, BRI managed to record 106.14% Year-on-Year (YoY) net profit growth with total assets increasing 4.00% YoY to IDR 1,684.60 trillion," conveyed Sunarso, President Director of BRI.
Left to Right: Agus Sudiarto, Risk Management Director BRI; Sunarso, President Director BRI; Viviana Dyah Ayu, Chief Financial Officer BRI.
In Q3 2022, BRI's total loans and financing reached IDR 1,111.48 trillion (7.92% YoY growth). BRI's MSME loan portfolio increased by 9.83% YoY from IDR 852.12 trillion in Q3 2021 to IDR 935.86 trillion in Q3 2022, making the proportion of MSME loans to 84.20%.
"Considering that 97% of jobs in Indonesia come from the MSME segment, BRI will continue to encourage the recovery and growth of the Indonesian economy by empowering MSMEs to continue to grow thus opening jobs for the community," said Sunarso.
BRI's success in carrying out the intermediary function, balanced with good risk management, was reflected in BRI's consolidated NPL ratio of 3.09%. BRI's NPL coverage was recorded at 278.79%, increasing from Q3 2021's of 252.86%. BRI's ability to maintain asset quality was also reflected in the declining Loans at Risk of 19.28% in Q3 2022, compared to last year's 25.62%.
Furthermore, BRI's third-party funds (DPK) recorded growth to IDR 1,139.77 trillion in Q3 2022 with Low-cost funds (CASA) being the main growth driver of BRI's DPK growth. The proportion of consolidated CASA was recorded at 65.43%, increasing from 59.60% in Q3 2021.
In line with the G20's priority issues, BRI is committed to become a 'Champion of Financial Inclusion' by 2025. "BRI has prepared a hybrid bank strategy to encourage financial that include the Ultra-Micro (UMi) Ecosystem Integration and expansion of BRILink Agent services," added Sunarso.
Since its establishment, the UMi Holding has had positive impacts on Indonesia's economy, integrating 28.1 million customers with a total outstanding financing of IDR 196.6 trillion. The UMi Service Center co-location or "Senyum", reached 1,003. In addition, PNM Mekaar's customers, now members of BRILink Agents, have reached 47.2 thousand and served roughly 799 million financial transactions, with a transaction volume of IDR 963 trillion.
"BRI will continue to maintain positive performances to continue to grow and become more resilient," concluded Sunarso.
For more information about Bank BRI, visit www.bri.co.id.
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...