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PT Bank Rakyat Indonesia (Persero) Tbk reports developments in Indonesian banking operations, MSME and microfinance credit, retail funding, remittances, and international banking activity tied to its BRI brand and ADR-traded security. Company announcements include branch expansion such as the Taipei branch, sustainable and social bond funding, dividend and share-buyback actions approved at shareholder meetings, and governance changes.
BRI Group updates also cover subsidiaries and ultra-micro finance platforms, including Pegadaian's gold-bank service, alongside consolidated performance, credit quality, risk management, and recognition in regional and global company rankings.
Bank Rakyat Indonesia (IDX: BBRI) reported a remarkable net profit of USD 1.66 billion for the first half of 2022, nearly doubling year-on-year at 98.38% growth. Total assets increased by 6.37% to USD 110.19 billion. The bank's loan disbursement reached USD 73.65 billion, an 8.75% YoY growth, with substantial contributions from the micro segment. BRI maintained a controlled NPL ratio of 3.26% and a robust capital adequacy ratio of 25.06%. The bank has also been recognized globally, ranked as the largest public company in Indonesia by Forbes.
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PT Bank Rakyat Indonesia (Persero) Tbk. has been recognized as the largest public company in Indonesia in the 2022 Forbes Global 2000 Ranking. BRI improved its international standing, moving from 362nd to 349th globally. This marks the eighth consecutive year BRI has held the top position among Indonesian firms. The bank reported a sales volume of US$12.77 billion and profits of US$2.17 billion. BRI's asset growth was noted, reaching Rp1,650.28 trillion with a profit increase of 78.13% year-on-year in Q1 2022.
On May 11, 2022, Bank BRI signed a Memorandum of Understanding with Coca-Cola Europacific Partners Indonesia (CCEP) to enhance distributor payment transactions via BRI's Corporate Billing Management (CBM) and Distributor Financing services. This collaboration aims to improve financial transaction management for CCEP's distributors, primarily MSMEs, ensuring timely payments and flexibility in transactions. The partnership underscores BRI's commitment to support multinational corporations and boost MSME growth in Indonesia.
Bank BRI and PT Telkom Indonesia Tbk. have announced a collaboration to provide financial services to 5 million people in Indonesia over the next two years. This partnership aims to enhance digital technology in the financial sector by leveraging reliable telecommunications infrastructure. Currently, approximately 28 million people in Indonesia lack access to banking services. With a focus on digital transformation and financial inclusion, this initiative is expected to contribute significantly to the economy, aligning with Indonesia's goals for a stronger digital economy by 2045.
Bank BRI reported a Q1 2022 profit of Rp. 12.22 trillion, marking a 78.13% year-on-year increase. The bank's assets rose by 8.99% year-on-year to Rp. 1,650.28 trillion. Lending to micro, small, and medium enterprises (MSMEs) grew by 7.43% to Rp. 1,075.93 trillion, outpacing national banking growth of 6.65%. The non-performing loan (NPL) ratio improved to 3.09%, down from 3.30% a year earlier. BRI's NPL coverage increased to 276.0% from 231.17%. The bank's low-cost funds rose by 15.99%, enhancing its financial stability.
On April 21, 2022, BRI celebrated Kartini Day by recognizing 7,000 female workers at the WOMAN event in Sentul, Indonesia. The event featured notable attendees including Erick Thohir and Sunarso, focusing on women empowerment as essential for financial inclusion. In 2021, women comprised 34.8% of BRI's workforce, with 23.11% in managerial roles. BRI aims to serve 5 million Ultra-Micro customers in 2022 and enhance financial access through initiatives like the Senyum service centers. The bank emphasizes cultural activation to drive effective execution of its empowerment strategies.
PT Bank Rakyat Indonesia (Persero) Tbk reports a significant contribution to financial inclusion in Indonesia through its BRILink service. The number of BRILink Agents exceeded 503,000, facilitating 929 million transactions in 2021. This initiative has generated IDR 1.35 trillion in fee-based income. Additionally, 65.5% of the bank's loan portfolio, totaling IDR 617.8 trillion, now adheres to Environment, Social, Governance (ESG) principles, demonstrating a 12.2% year-over-year increase. The program supports local economies and promotes digital banking access.
PT Bank Rakyat Indonesia (Persero) Tbk. held its Annual General Meeting of Shareholders on March 1, 2022, where it announced a dividend distribution of 85%, equating to IDR 26.40 trillion. This results in a per-share dividend of approximately IDR 174.23, a significant increase of 76.17% from 2020. The bank retains 15% of net income as retained earnings, maintaining a capital adequacy ratio of a minimum of 20%. Additionally, the bank approved a IDR 3 trillion share buyback aimed at boosting employee share ownership and enhancing company performance.