BRI Opens Secrets The Success Of Cuan Rp39 Trillion In Nine Months

BRI Board of Directors (Photo: Doc. BRI)

JAKARTA - PT Bank Rakyat Indonesia Tbk. (BRI) stated that a consistent sustainable transformation is the main driver of the company's positive performance in the third quarter of 2022.

BRI President Director Sunarso said the company always refers to the BRIvolution 2.0 blueprint transformation which was implemented since the beginning of the pandemic.

"This guide led us to achieve a net profit of IDR 39.3 trillion or a triple digit growth of 106.4 percent year on year in the first nine months of this year," he said in a written statement on Monday, November 21.

According to Sunarso, the ongoing transformation taken makes BRI more efficient and more focused on the MSME sector as the main backbone of the business.

"We are optimistic that we can continue to grow and be more resilient in seeing business opportunities and challenges in the future," he said.

Sunarso added, BRI continues to target performance improvement but with high vigilance. Therefore, he continued, the management will continue the transformation in order to maintain promising achievement and can continue to grow in a healthy and more resilient manner.

Furthermore, Sunarso spoke explaining also BRI intensely fostered MSMEs to increase.

"This can be seen from BRI's MSME credit portfolio which reached 84 percent of total credit," he added.

He explained that the MSME sector credit disbursed by the company in the third quarter of 2022 reached IDR 935.8 trillion or grew 9.8 percent. Meanwhile, BRI's total credit on a consolidated basis reached IDR 1,111.4 trillion, an increase of 7.9 percent.

This incision makes the largest bank in Indonesia able to strengthen assets to IDR 1,684.6 trillion in the third quarter of 2022. This is offset by the consolidated BRI NPL ratio which is at the level of 3.09 percent.

"Our commitment to continue to increase the portion of financing to the MSME segment is clear evidence that BRI is to continue to encourage national economic recovery and growth and active roles by empowering and encouraging MSMEs to continue to grow, so that it will open up and provide jobs for the community, considering that 97 percent of job opportunities are provided by the MSME segment," said Sunarso.

In addition, Sunarso said that digitalization was also a driving force for efficiency in the transformation of BRI. Through digitizing business processes as outlined in the hybrid bank strategy, BRI is able to suppress operational costs and reach more people who have not been touched by formal financial services so far.

"Indeed, the key to this profit achievement is that we have succeeded in transforming our liabilities so that we can reduce the cost of funds. The second is that we transform our business process through digitization, thereby reducing overhead costs," he concluded.