PR Newswire
30 Oct 2023, 20:00 GMT+10
JAKARTA, Indonesia, Oct. 30, 2023 /PRNewswire/ -- Despite the global economic challenges, assets of PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI) grew by 9.93% to IDR 1,851.97 trillion, net profits increased by 12.47% to IDR 44.21 trillion, and credit disbursement rose by 12.53% to IDR 1,250.72 trillion in the first nine months of 2023.
BRI's entire credit portfolio grew, with MSME loans up by 11.01% from IDR 935.86 trillion in Q3 2022 to IDR 1,038.90 trillion in Q3 2023, now accounting for 83.06% of the total.
Furthermore, the bank's commitment to ESG principles is shown by an 11.89% growth in ESG-related loans, totaling IDR 750.91 trillion, making up 66.1% of the credit portfolio. Effective risk management reduced the Loan-to-Risk Ratio to 13.80% by Q3 2023. Maintaining credit quality lowered Credit Cost to 2.44% in Q3 2023, with Non-Performing Loan Coverage at 228.65%.
"BRI recorded a 13.21% YoY growth, totaling IDR 1,290.29 trillion in Third-Part Fund Collection, primarily from Low-Cost Funds at 63.64% or IDR 821.14 trillion, through value chain optimization using Qlola, integrating Cash Management, Trade Finance, Supply Chain Management, Foreign Exchange, Investment Services, and Financial Dashboard," explained Sunarso.
Fee-based Income rose by 12.19% to IDR 15.56 trillion, driven by a 66.87% YoY growth in BRImo Super Apps transactions, serving 29.8 million users. AgenBRILink, with 698,000 agents and a 7.97% increase in transaction value to IDR 1.040 trillion, also boosted fee-based income. Additionally, BRI's digital transformation increased operational efficiency, reducing the Operating Costs to Income ratio from 68.36% to 68.07% and the Cost-to-Income Ratio from 42.55% to 41.28%.
The Loan-to-Deposit Ratio remains at 87.76%, while Capital Adequacy Ratio is at 27.48%, fortifying BRI's risk management and supports its growth in financial services and empowering MSMEs.
Sunarso also highlighted BRI's dual strategies: uplifting existing customers and expanding in the ultra-micro sector. "Desa BRIlian" (BRIlian Village) has supported 2,843 villages, and the "Klasterku Hidupku" (My Cluster, My Life) program has empowered 18,685 business clusters. Additionally, 54 state-owned enterprise houses have supported over 400,000 SMEs. The Ultra-Micro Holding initiative integrated over 37.3 million customers.
"We are optimistic about closing 2023 with impressive performance by focusing on sustainable growth to strengthen impact in Indonesia," concluded Sunarso.
More information at www.bri.co.id.
Get a daily dose of Malaysia Sun 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 Malaysia Sun.
More InformationBANGKOK, Thailand: This week, Thailand implemented land border restrictions, including a ban on tourists traveling to Cambodia, as...
New Delhi [India], June 29 (ANI): Australian all-rounder Mitchell Owen is on verge of a world record, as with one more 'Player of the...
(250629) -- Hong Kong, June 29, 2025 (Xinhua) -- Players of Thailand pose after the awarding ceremony for the Super Kung Sheung International...
(250629) -- TANGERANG, June 29, 2025 (Xinhua) -- Su Yu-Hsuan (L) of Chinese Taipei vies with Maria Jamila Khan of Pakistan during the...
(250629) -- HUE, June 29, 2025 (Xinhua) -- A traditional Chinese opera performance is staged in the central Vietnamese city of Hue...
Balochistan [Pakistan], June 29 (ANI): Sixteen years have passed since the enforced disappearance of Dr. Deen Mohammad Baloch, a senior...
SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...
NEW YORK CITY, New York: The U.S. dollar tumbled this week, hitting its lowest levels since 2021 against the euro, British pound, and...
NEW YORK CITY, New York: Walmart is set to close a major Sam's Club fulfillment center in Fort Worth, Texas, as part of a shift in...
SAN FRANCISCO, California: A U.S. judge has dismissed a copyright lawsuit filed by 13 authors against Meta Platforms, the company that...
DUBAI, U.A.E: Oman is set to introduce a personal income tax as part of its strategy to reduce dependency on hydrocarbon revenues....
NEW YORK, New York - U.S. President Donald Trump dropped a bombshell on Friday announcing he had terminated trade talks with Canada....