Growing 27.37 Percent, BRI Earns IDR 15.56 Trillion Profit In The First Quarter Of 2023

BRI building (Photo: dock. Antara)

JAKARTA - In the first quarter of 2023, PT Bank Rakyat Indonesia Tbk (BBRI) managed to score a profit of IDR 15.56 trillion or grew 27.37 percent year on year (yoy).

In terms of assets, BRI Group recorded asset growth of 10.46 percent yoy to Rp1,822.97 trillion.

"This achievement cannot be separated from BRI's commitment to be able to create value consistently with a focus on growing in the MSME segment, with good risk management," said BRI President Director Sunarso in an online press conference, Thursday, April 27.

In addition, continued SUnarso, BRI also continues digital transformation to increase productivity and efficiency, as well as improve services to customers.

Then in terms of lending, all BRI credit segments recorded positive growth, with the largest contribution still coming from the micro segment which grew 11.18 percent so that BRI Group's total credit and financing became IDR 1,180.12 trillion.

"Especially for the MSME segment, the portion has reached 83.86 percent of BRI's total credit or equivalent to Rp989.64 trillion," added SUnarso.

Meanwhile, BRI's ability to distribute credit is balanced with prudent risk management. This is reflected in the NPL ratio at the end of the first quarter of 2023 of 2.86 percent or an improvement when compared to NPL in the same period last year of 3.09 percent.

"This has improved BRI's credit cost, from 2.78 percent in the first quarter of 2022 to 2.39 percent at the end of the first quarter of 2023," continued SUnarso.

According to him, this is an anticipatory step and risk mitigation efforts to deal with global economic uncertainty, rising inflation and interest rates, and a slowdown in the world economy.

He further added, related to the collection of Third Party Funds (DPK), BRI was able to collect DPK of Rp1,255.45 trillion or double-digit growth of 11.45 percent yoy with the main support for low-cost fund growth or CASA which grew 13.01 percent yoy to Rp810.09 trillion.

"The focus of BRI accelerating the ability to raise low-cost funds has increased to 64.53 percent, this figure is higher when compared to the same period the previous year, which was 63.63 percent," explained Sunarso.