Bank Raya Plans To Buy Back Shares Worth IDR 20 Billion

Photo: Doc. Antara

JAKARTA - PT Bank Raya Indonesia Tbk (AGRO), BRI Group digital bank, plans to buy back the company's shares worth a maximum of IDR 20 billion after the Annual General Meeting of Shareholders (AGMS) on June 25, 2025.

If the plan is approved by the AGMS, the buyback will be carried out in stages and completed no later than 12 months after the annual meeting is held.

"The repurchase of the company's shares is motivated by efforts to increase engagement and ownership of workers for the company," said Bank Raya Finance Director Rustarti Suri Pertiwi in Jakarta, quoted by Antara, Wednesday, May 21.

He said that the buyback program would be continued with the Worker's Share Ownership Program and/or Management which is part of the entire remuneration scheme for variable management and/or workers.

He said that the program is expected to encourage all workers to contribute more optimally to the achievement of the company's targets.

"In addition, this buyback program also shows the company's management's confidence that the company's performance and performance prospects will continue to improve in the future, so that it can provide optimal value to stakeholders," said Rustarti.

He said that the implementation of the buyback is expected to also increase confidence in investors over the company's fundamental value, namely ensuring that businesses grow better and are healthier in the long term.

He said that fundamentally, the company was able to record positive growth, with a profit of Rp. 16.92 billion until the first quarter of 2025, or an annual increase of 84.7 percent (year-on-year/yoy).

Digital business growth is also getting better, as reflected in digital credit disbursement in the first quarter of 2025 which reached Rp6.3 trillion, or grew 63.9 percent yoy, and Raya App transactions which reached 1.1 million transactions, or an increase of 57.1 percent yoy.

The significant growth in lending has an impact on the increase in the company's assets which recorded a growth of 9 percent yoy to Rp13.35 trillion.

"With this share buyback, it is proof that Bank Raya strengthens its commitment to building healthy financial fundamentals, to sustainable growth and towards long-term profitability," said Rustarti Suri Pertiwi.