Getting Ready For BRI's Profit To Explode, President Director Sunarso Gives Leaks

President Director of BRI Sunarso (center) with the board of directors (Photo: Doc. BRI)

JAKARTA - The performance of PT Bank Rakyat Indonesia Tbk. (BRI) is projected to return to peak throughout 2023.

This indication was first seen from the company's consolidated net profit achievement in the first quarter which managed to jump 27.3 percent year on year (yoy) to Rp15.5 trillion.

BRI President Director Sunarso explained that the slick score could not be separated from the intermediation sector which continued to grow with a 10 percent increase in assets to Rp1,822.9 trillion.

BRI's commitment to be able to create value consistently focuses 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, quoted today Friday, May 12.

Most recently, the little wong bank managed to control the 'problemed' credit to return to normal.

Sunarso explained that credit restructuring affected by COVID-19 had decreased by 61 percent in March 2023.

"The condition of the customer has improved, so we release the COVID-19 reconstruction flag. However, most of the decline in the restructuring value is due to payments," he said.

The restructuring of credit has an impact on the "unused" reserve funds.

Our 'Coverage Loan at Risk' is up to 49 percent. Even though only 2 percent can't be saved. So BRI reserves to anticipate the risk of worsening the restructuring of COVID-19, I don't think it's just enough, but much more than enough," he said.

Just so you know, the reserves carried out by banks come from profits collected from the previous year. If the reserves are considered sufficient or even exceed, then the remaining funds will be channeled back to become profit in the current year.

For information, the day after the presentation of the performance in the first quarter of 2023, BRI shares increased by Rp. 125 or 2.49 percent at the level of Rp. 5,150.

The increase in the stock price coded BBRI has made market capitalization to Rp772.7 trillion and indicates investor confidence.

This score is also an achievement in itself amidst the risks of the global economy which is still filled with continuing uncertainty.

The company's profit throughout last year was IDR 51.4 trillion or the largest in BRI's history.