{"id":10765,"date":"2022-08-04T09:01:00","date_gmt":"2022-08-04T09:01:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3836187_HK36187_0"},"modified":"2022-08-04T09:01:00","modified_gmt":"2022-08-04T09:01:00","slug":"bri-reaches-usd-1-66-billion-net-profit-in-the-first-half-of-2022","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=10765","title":{"rendered":"BRI Reaches USD 1.66 Billion Net Profit in the First Half of 2022"},"content":{"rendered":"

JAKARTA, Indonesia<\/span><\/span>, Aug. 3, 2022<\/span><\/span> \/PRNewswire\/ — Bank Rakyat Indonesia (IDX: BBRI)<\/b>, one of the largest financial groups in Indonesia<\/span>, announced a net profit of USD 1.66 billion<\/span> or grew almost double 98.38% year-on-year (YoY) with total assets also increased 6.37% to USD 110.19 billion<\/span> in the first half of 2022, at the Press Conference on Financial Performance for Q2 2022 on July 27, 2022<\/span>.<\/p>\n

\n

\"Sunarso,<\/a>
Sunarso, BRI President Director<\/span><\/p>\n<\/p><\/div>\n

BRI President Director Sunarso said, “We focus on liquidity, especially the growth of low-cost funds; manage the loan quality, especially the restructured loan, while maintaining adequate provision to mitigate the credit risk; and furthermore accelerate business process reengineering to increase productivity and improve operational efficiency.”<\/p>\n

BRI disbursed USD 73.65 billion<\/span> worth of loans, a growth of 8.75% YoY, to the micro segment (15.07% growth), consumers (5.27% growth), corporate segment (3.76% growth), and SMEs (2.71% growth). BRI’s MSME loan portfolio grew 9.81% or USD 55.85 billion<\/span> in Q2 2021 to IDR 61.33 billion<\/span> in Q2 2022, reaching a proportion of 83.27%.<\/p>\n

BRI’s selective growth strategy focused on MSME, especially the utterly potential Ultra Micro and Micro segment, as the primary source of growth. This aligns with BRI’s core competence, leveraging on BRI’s vast experience and advanced infrastructure in terms of the physical and digital network, human capital, and progressive digital initiatives. In conjunction, BRI applied the soft-landing strategy to anticipate the deterioration of the loan quality ahead of the end of Indonesia’s<\/span> FSA restructuring relaxation period by March 2023<\/span>.<\/p>\n

BRI’s ability to distribute loans with prudent risk management was reflected in the controlled NPL ratio of 3.26%, with strong coverage of 266.6% in Q2 2022, compared to 252.59% in Q2 2021.<\/p>\n

Furthermore, Third Party Funds (DPK) grew 3.70% to USD 75.80 billion<\/span> in Q2 2022, driven by a 13.38% YoY increase in Low-cost funds (CASA), with Current Accounts and Saving Accounts growing 25.63% and 8.32%, respectively. The current proportion of BRI’s CASA of 65.12% is a significant increase compared to 59.56% in Q2 2021.<\/p>\n

BRI’s loan disbursements are supported by ample liquidity, seen from the consolidated LDR of banks maintained at 88.45% as well as a robust 25.06% Capital Adequacy Ratio.<\/p>\n

BRI’s exceptional performance has also received global recognitions, most notably:<\/p>\n

a) Forbes Global 2000 World’s Largest Public Companies: named BRI as the largest public company in Indonesia<\/span> in 2022, ranked 349th<\/sup> globally.<\/p>\n

b) The Banker: The Best Bank in Indonesia<\/span> and ranked 104th <\/sup>globally.<\/p>\n

c) The Asset Triple A: The Best SME Banker of The Year for Sunarso, and The Best Treasury and Working Capital \u2013 SME for BRI.<\/p>\n

“These achievements encourage BRI to continue delivering the best performance and maintaining its position as a prominent financial institution in Indonesia<\/span>,” said Sunarso.<\/p>\n

Furthermore, there are 45 million ultra-micro entrepreneurs in need of new or additional funding, of which only 15 million have already received financial assistance. Of the 30 million unreached individuals, 5 million rely on money lenders with 100-500% interest per year, 7 million borrow from relatives, and 18 million are still excluded from any financial assistance.<\/p>\n

“BRI will secure its sustainability with a strong engine of growth to provide financial support to the ultra-micro segments that have not been reached yet,” concluded Sunarso.<\/p>\n

Visit www.bri.co.id<\/a><\/u> for more information.<\/p>\n

\"Cision\" View original content to download multimedia:https:\/\/www.prnewswire.com\/news-releases\/bri-reaches-usd-1-66-billion-net-profit-in-the-first-half-of-2022–301599799.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

JAKARTA, Indonesia, Aug. 3, 2022 \/PRNewswire\/ — Bank Rakyat Indonesia (IDX: BBRI), one of the largest financial groups in Indonesia, announced a net profit of USD 1.66 billion or grew almost double 98.38% year-on-year (YoY) with total assets also increased 6.37% to USD 110.19 billion in the first half of 2022, at the Press Conference on […]<\/p>\n","protected":false},"author":8,"featured_media":10766,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-10765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"\nBRI Reaches USD 1.66 Billion Net Profit in the First Half of 2022 - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=10765\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BRI Reaches USD 1.66 Billion Net Profit in the First Half of 2022 - 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