Mr. Erick Thohir Must Be Proud, State Owned Bank Harvesting Profits

SOE Minister Erick Thohir. (photo: Doc. Antara)

JAKARTA - State-owned banks will reap profits throughout 2021. Of the three banks that have released their financial reports, the total profit collected has reached IDR 71.12 trillion.

The three banks are PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) or BRI, PT Bank Mandiri (Persero) Tbk (BMRI), and PT Bank Negara Indonesia Tbk (BBNI) or BNI.

In detail, BRI earned the largest profit of IDR 32.21 trillion, followed by Bank Mandiri of IDR 28.02 trillion, and BNI of IDR 10.89 trillion. However, in terms of profit growth, BNI recorded the fastest growth or reached 232.2 percent, then BRI 76 percent, and Bank Mandiri 66.83 percent.

Apart from the three banks, only PT Bank Tabungan Negara (Persero) Tbk (BBTN) has yet to release its financial report in 2021. BTN has just released its financial report for the third quarter of 2021 with profit growth of 35.32 percent to IDR 1.52 trillion.

BRI President Director Sunarso said the main support for BRI's profit growth lies in credit performance and the collection of Third Party Funds (DPK) which grew positively accompanied by a significant decrease in interest costs, and at the same time the company was able to manage its portfolio mix and asset quality so as to increase asset yields.

"BRI's profit of IDR 32.22 trillion proves that the company can continue to create economic value for all stakeholders in the midst of today's challenging conditions," he said in a performance presentation, Thursday, February 3.

Bank Mandiri President Director Darmawan Junaidi explained that the significant performance achievement was in line with the national economic recovery supported by cross-sectoral government policies and the effective handling of Covid-19 to stimulate the domestic economy.

"Throughout 2021, Bank Mandiri has actively implemented digital transformation to achieve a long-term strategy and generate sustainable business growth," said Darmawan at Bank Mandiri's 2021 Performance Expose in Jakarta, Thursday, January 27.

According to him, the net profit growth was supported by the optimization of the company's intermediation function in line with positive economic growth.

Meanwhile, BNI's President Director Royke Tumilaar said that the performance of BNI 2021 was very encouraging where the net profit was able to exceed market expectations. The achievement of this net profit was generated from Operational Income Before Reserves (PPOP) which grew strongly by 14.8 percent, reaching IDR 31.06 trillion.

This achievement is even the highest BNI has ever produced, higher than operating income before the pandemic. In addition, efforts to improve credit quality through monitoring, handling, and effective policies made the cost of credit improve to 3.3 percent.