Revealed! The Secret Of BRI's Success In Printing A Jumbo Profit Of IDR 24 Trillion In Six Months

BRI Board of Directors (Photo: Doc. Antara)

JAKARTA - PT Bank Rakyat Indonesia (Persero) Tbk (BRI) has just achieved a solid performance in the first semester of 2022 with a consolidated net profit of IDR 24.8 trillion. The nick made the issuer codenamed BBRI a state-owned enterprise that was able to reap the biggest profits in the first half of this year.

Head of Research Samuel Sekuritas, Suria Dharma, provided an analysis of why BBRI managed to score good results until June 2022.

First, Return on Equity (ROE) increased to 17.48 percent from 10.98 in June 2021. In the same period, ROA was recorded at 3 percent, up from 1.61 percent previously.

“The level of profitability is in good shape. This year, I estimate that BRI will record an all-time high net profit", he said in a written statement on Thursday, August 11.

Second, the intermediation function jumped to IDR 1,104.7 trillion, an increase of 8.75 percent year on year (YoY).

Third, in terms of third-party funds (DPK) which recorded a growth of 3.7 percent to IDR 1,136.9 trillion.

If examined, the main pillars came from current accounts and savings, which grew 13.3 percent. As a result, the ratio of low-cost funds or Current Account Savings Accounts (CASA) of banks rose to 65.1 percent.

"The increase in BRI's ability to generate profits cannot be separated from credit growth, maintaining funding costs, and decreasing provision costs", said Suria.

With this achievement, he stated that BBRI's performance in the future is still very likely to grow amidst the easing of community mobility so that this can help the company's business bounce back.

"Therefore, we hope that BRI can continue to record stronger credit growth going forward and improve the quality of its assets", he concluded.