BRI Shares Soar After Pamer Profit Of IDR 15 Trillion In The First Quarter Of 2023

BRI

JAKARTA PT Bank Rakyat Indonesia Tbk. (BRI) is said to have experienced an increase in shares of IDR 125 or 2.49 percent at the level of IDR 5,150 at the close of trading yesterday, March 27 after the presentation of positive performance during the first quarter of 2023. BRI President Director Sunarso said the increase touched the company's all-time high (all-time high) level at the close of trading in the Indonesia Stock Exchange (IDX) shares. The increase in BBRI prices made BBRI's market capitalization become the company's market capitalization. "Rp772.7 trillion and indicating investor confidence in BRI continues to increase even though in the midst of the still challenging global economic risk," he said in a written statement, Friday, April 28. According to Sunarso, BRI's steady achievement in the first three months of this year was reflected in consolidated profit (BRI Group) of Rp15.5 trillion or grew 27.3 percent year on year (yoy) from the same period the previous year. These slick results are accompanied by asset growth to become Rp1,822.9 trillion or grew 10.4 percent. "This achievement cannot be separated from BRI's commitment to be able to create value consistently with a focus on growing in the MSME segment, with good risk management. In addition, we also continue digital transformation to increase productivity and efficiency, as well as improve services to customers," he said. The state-owned bank also experienced an increase in terms of lending with the main contributors in The micro segment grew 11.1 percent, bringing the total BRI Group credit and financing to Rp1,180.1 trillion. "Especially for the MSME segment, the portion has reached 83.8 percent of BRI's total credit or equivalent to Rp989.6 trillion," he explained. Sunarso explained, the credit growth was also accompanied by prudent risk management in lending. Reflected on the NPL ratio at the end of the first quarter of 2023 of 2.86 percent or an improvement when compared to NPL in the same period last year was 3.09 percent. Even though credit quality improves, BRI still provides adequate reserves with NPL coverage reaching 282.4 percent. This is an anticipatory step and risk mitigation efforts to deal with global economic uncertainty, rising inflation and interest rates, and deceleration of the world economy," he stressed. that, another contributor that supports BRI's performance is commission-based income or Fee Based Income (FBI) which grew 11.4 percent or reached IDR 5.08 trillion. BRI is optimistic that the prospects and performance of the banking industry will be better in 2023, with credit targeted to grow at the level of 10-12 percent and supported by strengthening in the MSME segment, especially Micro and Ultra Micro", concluded Sunarso.