Throughout 2022, BRI Raup Profit IDR 51.4 Trillion

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

JAKARTA - PT Bank Rakyat Indonesia Tbk (BRI) as a group earned a net profit of IDR 51.4 trillion or grew 67.15 percent year on year (yoy).

In addition, total assets were also recorded to have grown double digits by 11.18 percent yoy to Rp1,865.64 trillion.

"Alhamdulillah, together with Untung and Slamet, BRI succeeded in serving 34 million micro-enterprises, BRI recorded a profit of IDR 51.4 trillion," said BRI President Director Sunarso in a performance presentation in Jakarta, Wednesday, February 8.

Sunarso continued, the success of BRI Group in recording the profit record could not be separated from the right strategic response.

The keys to BRI's success in maintaining the company's bottom line of performance include BRI's success in efficiency.

Sunarso said that BRI has succeeded in its main efficiency through reducing the cost of funds (cost of funds) through improving the funding structure for the increase in low-cost funds (CASA).

BRI's CASA recorded a significant increase to 66.70 percent compared to the same period last year which was 63.08 percent.

"This has an impact on reducing the cost of bank funds only, from 2.05 percent at the end of 2021 to 1.87 percent by the end of 2022," added Sunarso.

The success of efficiency is also reflected in the improving ratio of BOPO, CER and CIR compared to the same period last year. BOPO was recorded at 69.10 percent, the better compared to BOPO at the end of 2021 at 78.54 percent.

Meanwhile, the cost efficiency ratio (CER) was also recorded to be getting better from 50.25 percent at the end of 2021 to 48.16 percent at the end of 2022 and the cost to income ratio (CIR) was originally 48.56 percent to 47.38 percent, which means it is getting more efficient.

In addition, he continued, improving the quality of credit distributed had a positive impact on the efficiency carried out by the company.

As a result, BRI managed to reduce the cost of credit from 3.78 percent at the end of 2021 to 2.55 percent by the end of 2022.

Sunarso added that the second factor that contributed greatly to the company's performance was commission-based income or double-digit growth fee income which was the fruit of digital transformation.

The commission-based revenue contributed massively to BRI's overall performance.

"Where, at the end of December 2022 BRI managed to collect commission-based revenues worth IDR 18.80 trillion or grew 10.16 percent yoy, so that the fee to income ratio reached 11.37 percent," concluded Sunarso.