Welcome to our dedicated page for Bank Rakyat news (Ticker: BKRKY), a resource for investors and traders seeking the latest updates and insights on Bank Rakyat stock.
PT Bank Rakyat Indonesia (Persero) Tbk operates as one of Indonesia's largest financial institutions with a specialized focus on microfinance and retail banking services. The bank serves approximately 30 million retail clients through an extensive network of over 8,600 branches, units, and service posts distributed throughout the Indonesian archipelago. As the oldest banking institution in Indonesia and a pioneer in sustainable microfinance operations, the bank maintains the largest micro and SME loan portfolio in the country with over 15 million micro borrowers.
The institution operates through three primary business segments serving distinct customer bases. The Individual segment provides retail banking services including deposit accounts, personal loans, mortgages, credit cards, and wealth management products. The MSME segment focuses on micro, small, and medium enterprises with specialized financing solutions including working capital loans, microloans, investment financing, and supply chain financing. The Corporate segment serves large corporations and institutional clients with trade finance, treasury services, transaction banking, and capital market support.
Digital transformation represents a strategic priority for the bank, with substantial investments in mobile banking platforms, digital payment systems, and technology infrastructure. The digital banking ecosystem is supported by over 1.2 million banking agents, extensive merchant partnerships, and satellite infrastructure that enables service delivery from urban centers to remote areas. The bank operates as a state-owned enterprise with majority government ownership while maintaining publicly traded shares on the Indonesia Stock Exchange and American Depositary Receipts available on over-the-counter markets.
The comprehensive product portfolio includes deposit accounts, lending products across all customer segments, trade finance services, remittance and payment services, wealth management offerings, and financial services provided through subsidiaries operating in life insurance, general insurance, securities, venture capital, and Islamic banking. The institution's strategic focus on financial inclusion and mass-market banking has established its position as a leader in serving underserved populations throughout Indonesia.
On November 16, 2022, PT Bank Rakyat Indonesia (BRI) announced a net profit of IDR 39.31 trillion for Q3 2022, marking a 106.14% Year-on-Year growth. Total assets grew by 4.00% YoY to IDR 1,684.60 trillion. Loans and financing amounted to IDR 1,111.48 trillion, a 7.92% increase, with MSME loans comprising 84.20% of the total. BRI's NPL ratio stands at 3.09%, reflecting robust risk management.
PT Bank Rakyat Indonesia (Persero) Tbk received recognition from Harvard Kennedy School's Professor Jay K. Rosengard for its role in advancing financial inclusion and ESG practices in Indonesia. During the TIIWG Road to G20 conference on October 17, 2022, Rosengard praised BRI's impact on transforming Indonesia's agricultural sector, citing its significant contribution toward MSMEs growth. BRI's innovations, like AgenBRILink, have enhanced access to financial services, targeting an inclusion rate of 83-84%. In H1 2022, BRI recorded a profit of Rp24.88 trillion, maintaining its status as the largest bank in assets in Indonesia.
PT Bank Rakyat Indonesia (Persero) Tbk has initiated the BRIvolution 1.0 Transformation Program for 2018-2022, emphasizing digitalization and cultural change. This initiative aims to enhance business processes and foster new value. Minister Erick Thohir noted improvements in revenue and EBITDA margins as indicators of success. The next phase, BRIvolution 2.0, targets becoming Southeast Asia's most valuable banking group by 2025, with initiatives like establishing Ultra-Micro Holding and boosting digital services. Recent metrics include a significant rise in microcredit bookings and user growth in BRI's Super App, BRImo.
PT Bank Rakyat Indonesia (Persero) Tbk. is executing a IDR 3 trillion share buyback program, approved for an 18-month period from March 1, 2022 to August 31, 2023. According to analysts, this indicates management's belief that the shares are currently undervalued. The buyback aims to enhance employee performance through an Employee Stock Option Plan (ESOP), as the employee ownership is below 1%. BRI's management expects this initiative to improve employee engagement and align with the company's goal of becoming the Most Valuable Banking Group in Southeast Asia by 2025.
Bank Rakyat Indonesia announces an ongoing share buyback program effective from March 1, 2022, until August 31, 2023, with a total value of IDR 3 trillion. This initiative aims to enhance shareholder value alongside optimal dividend distributions. In 2022, the bank delivered an impressive dividend payout of 85% of its 2021 net profit, amounting to IDR 24.9 trillion. Year-on-year, profit growth reached 98.4% as of Q2 2022, supported by effective credit restructuring and strategic business transformations.
On September 16, 2022, PT Bank Rakyat Indonesia (BBRI), alongside Pegadaian and PNM, announced significant advancements in financial inclusion via the Ultra-Micro (UMi) Holding. Over 23.5 million customers benefit from an outstanding financing amounting to IDR 183.9 trillion. Integration efforts led to 1,003 service outlets, surpassing a target of 978. Additionally, 6.85 million new savers were added, exceeding the 3.3 million goal. The initiative aims to assist 55 million ultra-micro customers and improve the MSME landscape in Indonesia.
PT Bank Rakyat Indonesia (Persero) Tbk. has partnered with PT Syngenta Indonesia to enhance financial services for farmers through the CENTRIGO™ Farming Ecosystem, set to launch in October 2022. The collaboration, formalized on September 13, 2022, aims to uplift the agricultural sector in Indonesia by utilizing digital banking solutions for efficient transaction management. The partnership also includes agreements on microcredits and digital tools to support farmers, aligning with BRI's goal of financial inclusion.
PT Bank Rakyat Indonesia (BRI) has entered a strategic partnership with PT Castrol Indonesia to enhance financial services for Castrol's distributors and outlets. A Banking Services Memorandum of Understanding was signed on September 1, 2022, in Jakarta. The collaboration focuses on Distributor Financing and Outlet Financing to streamline transactions and improve financial management for MSMEs in the lubricant sector. BRI aims to provide integrated banking solutions to help Castrol Indonesia's business ecosystem thrive, especially in the wake of pandemic-induced cash flow challenges.
On September 7, 2022, PT Bank Rakyat Indonesia successfully supported MSMEs at the Tong Tong Fair in The Hague, Netherlands, from September 1-12. The initiative aims to boost MSME competitiveness globally through education in financial management and marketing. BRI’s MSME loan portfolio grew by 9.81% YoY, reaching IDR 920 trillion in Q2 2022, with total loans disbursed at IDR 1,104.79 trillion. The BRIlianpreneur EXPO(RT) in 2021 achieved US$72.13 million in transactions, exceeding expectations and showcasing MSME potential to international buyers.
PT Bank Rakyat Indonesia (BBRI) has announced a share buyback plan valued up to IDR 3 trillion, effective from March 1, 2022 to August 31, 2023. This decision, approved by shareholders, aims to enhance employee motivation and improve performance. The bank's Q1 2022 net profit reached IDR 24.88 trillion (up 98.38% YoY), with total assets increasing to IDR 1,652.84 trillion. BRI's lending portfolio grew to IDR 1,104.79 trillion (up 8.75% YoY), focusing on MSME loans, which now account for 83.27% of total financing.
FAQ
What is the current stock price of Bank Rakyat (BKRKY)?
What is the market cap of Bank Rakyat (BKRKY)?
