BRI Earns IDR 12.54 Trillion Profit And Distributes IDR 366.56 Trillion Loans In Semester I 2021

President Director of BRI Sunarso. (Photo: Doc. Antara)

JAKARTA - President Director of PT Bank Rakyat Indonesia (Persero) Tbk (BRI) Sunarso said the company recorded a profit of Rp 12.54 trillion until the end of the second quarter of 2021 or grew 22.93 percent compared to the same period 2020.

"The main factor driving BRI's performance is credit growth which grew positively and above the national banking industry average. Until the end of June 2021, BRI's consolidated loan disbursement amounted to Rp929.40 trillion, grew positively compared to BRI's credit distribution at the end of the second quarter of 2020 of Rp. Rp922.97 trillion," said Sunarso in a virtual press conference in Jakarta, quoted from Antara, Friday, August 6.

Sunarso detailed that BRI disbursed micro loans of IDR 366.56 trillion until the end of the second quarter of 2021 or grew 17 percent year on year.

This growth in micro-credit disbursement strengthens BRI's commitment to focus on developing micro-businesses, with the composition of micro-credit reaching 39.44 percent of BRI's total loan disbursement.

"This is on the track towards a minimum composition of microcredit of 45 percent in 2025," added Sunarso.

This achievement made the proportion of BRI's micro, small and medium enterprises (MSME) loans to climb to 80.62 percent from 78.58 percent in the same period last year.

"In addition to micro credit, BRI's consumer credit also recorded a positive growth of 3.54 percent to Rp145.94 trillion at the end of the second quarter of 2021," he said.

Meanwhile, BRI's non-performing loan (NPL) ratio at the end of the second quarter of 2021 was maintained at 3.30 percent with NPL coverage reaching 254.84 percent. BRI's success in maintaining the NPL cannot be separated from the increasingly sloping trend of credit restructuring affected by COVID-19.

"Until the end of June 2021, the outstanding restructuring credit due to COVID-19 was recorded at IDR175.16 trillion or a decrease of IDR56.3 trillion from the total accumulated restructuring loans," explained Sunarso.

In terms of liabilities, BRI's third party funds grew 2.23 percent yoy to Rp1,096.45 trillion at the end of June 2021. Low-cost funds (CASA) which still dominate BRI's funding structure grew to 59.56 percent from 55.81 percent in the period the same last year.

"BRI's success in increasing the proportion of CASA has reduced the cost of funds (COF) from 3.54 percent at the end of the second quarter of 2020 to 2.18 percent at the end of the second quarter of 2021," added Sunarso.

According to Sunarso, positive credit growth coupled with improving COF performance has resulted in BRI's net interest income growing well.

BRI's prudent performance is also reflected in the LDR and CAR ratios which are at ideal numbers, where BRI's LDR at the end of June 2021 was recorded at 84.77 percent, while BRI's CAR in the same period was recorded at 19.98 percent.

"The company is optimistic that it will be able to maintain strong and sustainable growth in the future by remaining prudent in managing the impact of the pandemic, one of which is by being disciplined in forming adequate reserves. With strong performance fundamentals and accompanied by improving economic conditions, BRI believes that we are currently We are already at the beginning of the revival of the national economy," Sunarso concluded.