Achieved IDR 45.36 Trillion Profit in Q3 2024, BRI Strengthens Performance Fundamentals
Rhea-AI Summary
Bank Rakyat Indonesia (BRI) reported strong Q3 2024 performance with a net profit of IDR 45.36 trillion. The bank's loan disbursement reached IDR 1,353.36 trillion, growing 8.21% year-on-year, with 81.70% allocated to MSMEs. Assets increased 5.94% to IDR 1,961.92 trillion. BRI improved asset quality with NPL decreasing to 2.90% and maintaining strong reserves with an NPL coverage ratio of 215.44%. Third-party funds grew 5.59% to IDR 1,362.42 trillion, with CASA ratio improving to 64.17%. The bank's digital platform BRImo reached 37.14 million users, processing IDR 4,034 trillion in transactions.
Positive
- Net profit reached IDR 45.36 trillion in Q3 2024
- Loan disbursement grew 8.21% YoY to IDR 1,353.36 trillion
- Assets increased 5.94% to IDR 1,961.92 trillion
- Improved asset quality with NPL decreasing to 2.90%
- Strong NPL coverage ratio of 215.44%
- Third-party funds grew 5.59% to IDR 1,362.42 trillion
- CASA ratio improved to 64.17% from 63.64%
- Digital transactions through BRImo increased 35.20% YoY
Negative
- None.
News Market Reaction – BKRKY
In the trading session that priced this news, BKRKY gained 2.65%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
JAKARTA, Indonesia, Oct. 31, 2024 /PRNewswire/ -- PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) maintained its strong performance amidst global and domestic economic challenges, achieving a net profit of IDR 45.36 trillion in the third quarter of 2014. At the financial performance press conference on October 30, BRI President Director Sunarso said, "This achievement is a result of BRI's consistent focus on strengthening performance fundamentals and implementing strategic responses to manage market dynamics."
By September 2024, BRI had disbursed IDR 1,353.36 trillion in loans, an
BRI also improved asset quality, with NPL falling to
A key driver of BRI's growth in low-cost funds is its digital transformation through the BRImo super-app, providing accessible banking anytime, anywhere. By September 2024, BRImo reached 37.14 million users, with transaction volume increasing by
BRI has also expanded hybrid banking to underserved areas, with more than 1.02 million BRILink agents in 62,227 villages supporting national financial inclusion. From January to September 2024, these agents facilitated IDR 1,170 trillion in transactions from 859 million interactions.
Furthermore, BRI's performance in Q3 2024 is supported by solid liquidity (LDR of
"BRI is confident of closing 2024 on a positive note, focusing on strengthening fundamentals and building resilience to face global and domestic challenges," Sunarso concluded.
For more information on BRI, please visit www.bri.co.id