BRI Earns IDR 29.9 Trillion Net Profit In Semester I-2024, Supported By Loans That Increase 11.2 Percent

Bank BRI (Photo: Antara)

JAKARTA - PT Bank Rakyat Indonesia (Persero) Tbk managed to record a positive performance until the end of the second quarter of 2024 by scoring a profit of IDR 29.90 trillion.

BRI President Director Sunarso revealed that BRI's positive performance was supported by the growth in double-digit lending and collection of Third Party Funds (DPK).

"Until the end of the second quarter of 2024, BRI's lending was recorded at Rp1,336.78 trillion or grew 11.20 percent year on year (yoy)," he said in an online press conference, Thursday, July 25.

He said the MSME segment still dominates BRI's lending with a portion reaching 81.96 percent of BRI's total credit distribution. The amount is around Rp. 1,095.64 trillion.

Sunarso added that the double-digit-growing lending made BRI's assets recorded an increase. Until the end of June 2024, BRI's assets grew 9.54 percent yoy to Rp1,977.37 trillion.

The credit growth was followed by selective and prudent lending. Thus, the Company is able to maintain the quality of the credit disbursed.

The Loan at Risk (LAR) ratio recorded an improvement or decrease, from 14.94 percent at the end of the second quarter of 2023 to 12.00 percent at the end of the second quarter of 2024.

"Meanwhile, the ratio of non-performing loans (NPL) is maintained at around 3.05 percent with the NPL coverage ratio at an adequate level of 211.60 percent," said Sunarso.

In terms of funding, BRI's Third Party Funds (DPK) recorded a growth of 11.61 percent yoy to Rp1,389.66 trillion. Giro and Savings (CASA) grew 7.66 percent yoy to Rp877.90 trillion.

" Cheap funds still dominate the structure of the BRI DPK, where the CASA portion reaches 63.17 percent of the total BRI DPK," added Sunarso.