Wealth Management Fund Grows 9.2 Percent, BRI Adds Investment Products

JAKARTA – PT Bank Rakyat Indonesia Tbk. (BRI) reported that the wealth management business showed positive performance over the past year by posting growth in asset under management (AUM) of 9.2 percent year-on-year (YoY).

BRI's Director of Consumer Business, Handayani, said that she had prepared a strategy to strengthen financial management education to the public through product instruments with safety risks.

"The company's wealth management business will continue to collaborate with subsidiary companies, including through the addition of BRI investment products and bancassurance products", she said in an official statement, Thursday, January 6.

In Handayani's notes, the growth fee-based income (FBI) of BRI investment and BRI's FBI bancassurance also experienced a significant increase of 45.5 percent YoY and 23.7 percent YoY, respectively. Meanwhile, the overall FBI of BRI itself increased by 27.3 percent on an annual basis.

"As a distribution partner, BRI also recorded total retail SBN sales in the primary market which increased by 21 percent YoY with market share sales reaching 11.23 percent", continued Handayani.

The bank with the stock code BBRI is also known to have won three awards from Asiamoney for its wealth management business performance achievements, namely Best Domestic Private Bank, Best for HNW, and Best for Asset Transition/Succession Planning.

"BRI is optimistic that the wealth management business has bright prospects and will continue to grow in the future as a trusted partner commitment in facing the investment and protection climate in the new era", concluded Handayani.