BRI Able To Earn IDR 44.21 Trillion Profit In The Third Quarter Of 2023, BRI Boss Sunarso Explains The Cause

JAKARTA - PT Bank Rakyat Indonesia Tbk (BBRI) managed to record a profit of IDR 44.21 trillion in the third quarter of 2023. This number grew by 12.47 percent from the same period the previous year. On the asset side, BRI Group managed to record assets that increased 9.93 percent yoy to IDR 1,851.97 trillion.

"Alhamdulillah, in the midst of the challenges and uncertainties of the global economy due to the increasing geopolitical tension in the world, until the end of September 2023, BRI managed to maintain an impressive financial performance," said BRI President Director Sunarso in an online press conference, Wednesday, October 25.

Sunarso explained that the main contributors to the performance of BRI Group include double-digit growth of credit, collection of Third Party Funds (DPK) and low-cost funds which also grow double digits, maintained credit quality, and proportions of fee-based income whose portion continues to increase to the overall income of BRI.

In terms of credit, BRI managed to encourage credit distribution to grow 12.53 percent yoy to Rp1,250.72 trillion.

According to him, this achievement is still in line with BRI's projection, where by the end of this year the company targets credit growth to be at the level of 10-12 percent yoy.

"All credit segments recorded positive growth. Specifically for lending, BRI MSMEs also grew 11.01 percent from the original Rp935.86 trillion at the end of the third quarter of 2022 to Rp1,038.90 trillion at the end of the third quarter of 2023," he said.

Then in terms of collecting Third Party Funds (DPK), BRI recorded a total DPK of Rp1,290.29 trillion or grew 13.21 percent yoy.

"The main support for the BRI DPK is still sourced from low-cost funds (CASA) with a portion reaching 63.64 percent or IDR 821.14 trillion. The highest growth comes from Giro BRI which grew by 28.12 percent yoy," continued Sunarso.

Meanwhile, BRI Group's Fee-based Income (FBI) grew 12.19 percent yoy to IDR 15.56 trillion.

The achievement of the BRI FBI is in line with the volume of BRImo Super Apps transactions which grew by 66.87 percent yoy or reached Rp2,984 trillion and the number of users reached 29.8 million users.

"This achievement is in line with BRI's digital transformation, which this year focuses on strengthening retail banking capabilities," explained Sunarso,

In addition, BRI's fee-based income growth was also driven by an increase in the business of Agent BRILink, a bank service agent with a business sharing economy model with the community, whose number has reached more than 698 thousand agents with a total transaction value of 20.77 percent increasing to Rp1,163 trillion.