BRI Earns IDR 29.56 Trillion Profit per Semester I 2023, Up 18 Percent

Illustration (Photo: Doc. Antara)

JAKARTA - PT Bank Rakyat Indonesia (Persero) Tbk made a profit of IDR 29.56 trillion in the first half of 2023.

This number is known to have increased 18.83 percent from the same period the previous year (yoy).

Main Director of BRI, Sunarso said, the increase in profit was inseparable from the increase in assets by 9.21 percent yoy to IDR 1,805.15 trillion.

"Alhamdulillah, until the end of the second quarter, BRI has succeeded in orchestrating the strategy so that it can record a healthy and sustainable performance," said Sunarso in an online press conference, Wednesday, August 30.

He added, the main factors supporting BRI's performance include the growth of micro and CASA loans which reached double digits, maintained asset quality, improved efficiency ratios, the proportion of fee-based income that continues to grow consistently, and the increasingly solid performance of subsidiary companies that are members of the BRI Group.

In terms of lending, by the end of the second quarter of 2023 BRI had managed to disburse credit and financing worth IDR 1,202.13 trillion with the main support for growth namely the micro-segment which grew 11.41 percent yoy to IDR 577.94 trillion.

Thus, the portion of micro-credit has reached 48.08 percent of BRI's total lending.

Meanwhile, the disbursement of micro credit grew by double digits, making the proportion of BRI's MSME loans also continue to increase.

Until the end of Quarter II 2023, 84.48 percent of BRI's total credit or IDR 1,015.54 trillion was credit disbursed to the MSME segment.

"This is the first time BRI's MSME loans have penetrated above IDR 1,000 trillion, and BRI is committed to continuing to increase its MSME loan portion to reach 85 percent in 2024," added Sunarso.

In terms of the quality of loans disbursed, BRI's NPL at the end of the second quarter of 2023 was recorded at 2.95 percent, an improvement compared to the NPL in the second quarter of 2022 of 3.26 percent.

This caused BRI's Credit Cost to decrease, from 3.11 percent in the second quarter of 2022 to 2.26 percent in the second quarter of 2023.

"BRI's success in managing NPLs was also matched by adequate reserves, where by the end of the second quarter of 2023, BRI's NPL coverage was recorded at 248.54 percent," concluded Sunarso.