Bank Rakyat Stock Price, News & Analysis

BRI, known as PT. Bank Rakyat Indonesia (Persero) Tbk, has made significant strides by ranking first in Indonesia and 15th overall in the 2024 Fortune Southeast Asia 500 list. This list, released on June 18, evaluates the largest companies in Southeast Asia based on revenue, profit, and assets. BRI achieved this with $14.9 billion in revenue, $3.9 billion in profit, and total assets of $127.6 billion.

The Fortune Southeast Asia 500 list includes companies from seven countries: Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines, and Cambodia, with Indonesia leading in representation.

BRI's impressive performance is further acknowledged by Forbes, which named it the largest company in Indonesia on the Forbes Global 2000 list for 2024. This recognition underscores BRI's strategic success in navigating global economic uncertainties and high interest rates, further solidifying its leadership in the banking industry.

PT Bank Rakyat Indonesia (BRI) has been recognized as the largest company in Indonesia in the Forbes Global 2000 list for 2024, ranking at 308 globally. BRI's notable metrics include $14.95 billion in revenue, $3.6 billion in profits, $125.45 billion in assets, and $46.5 billion in market value. The company's Q1 2024 financial performance saw profit growth of IDR 15.98 trillion and a 10.89% year-over-year increase in loan disbursement to IDR 1,308.65 trillion. Additionally, third-party funds grew by 12.80% to IDR 1,416.21 trillion, and total assets increased by 9.11% to IDR 1,989 trillion. BRI's capital adequacy ratio stands at 23.97%, with an NPL coverage ratio of 214.26%.

On June 13, 2024, PT Bank Rakyat Indonesia (BBRI) disclosed that its top executives have been actively purchasing BBRI shares. Deputy CEO Catur Budi Harto, CFO Viviana, and Director of Micro Business Supari acquired a total of 723,300 shares recently, despite a 23% year-to-date stock decline.

Analysts from RHB Securities see potential for price increases, highlighting BBRI's sector-leading profit growth of 4.5% in the first four months of 2024, driven by a 12% loan growth and an effective cost of credit. They maintain a Buy rating with a target of Rp6,300, predicting a 40% rise. Bloomberg consensus also backs this with a target of Rp6,105.

Analysts from Macquarie and Ciptadana Securities have given buy recommendations with target prices of Rp6,630 and Rp7,000, respectively.

BRI, Indonesia's leading MSME financier, reported a 10.89% year-on-year growth in its credit portfolio, reaching IDR 1,308.65 trillion by March 2024. Over 83% of this portfolio was allocated to MSMEs. Analysts from Sucor Securities, Macquarie, and MNC Securities have issued 'Buy' recommendations for BBRI stock, with target prices ranging from IDR 6,300 to IDR 7,100. BRI's subsidiaries, Pengadaian and PNM, contributed significantly to its total assets and net income growth. The bank maintains a strong ROE above 20% and a NIM above 7%. Despite challenges in asset quality, BRI's robust capital position and loan loss coverage are expected to support moderate revenue growth of 5% to 10% YoY through 2025. The Bloomberg consensus among 35 analysts also indicates a bullish outlook with a 12-month price target of IDR 6,175.

PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) reported a profit of IDR 15.98 trillion for Q1 2024, leading to a majority of analysts recommending a 'Buy' on BBRI shares. Analysts are optimistic about BBRI's performance, with a high price target of IDR 6,653 in the next 12 months. The company's net profit and revenues are robust, supported by a 16% increase in Net Interest Income due to strong credit growth. While quarterly net profit fell slightly below expectations, BBRI's credit disbursement and asset growth remain strong, with all loan segments showing year-over-year growth. BRI's management expresses confidence in sustaining double-digit credit growth despite high interest rates.

PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) has initiated a share buyback program in response to stock price adjustments post Q1 2024 Financial Report. The buyback allows repurchasing up to IDR 1.5 trillion worth of BBRI shares within 18 months, aiming to signal a stronger company position. Despite short-term corrections, BRI focuses on long-term growth and benefits for shareholders, emphasizing prudent banking principles and MSME empowerment.