BRI Finance Earns Profit of IDR 51.26 Billion in Semester I 2023

Photo: Doc. Antara

JAKARTA - PT BRI Multifinance Indonesia (BRI Finance) posted profit for the year which rose 45.37 percent year on year (yoy) to IDR 51.26 billion during the first semester of 2023, compared to Rp. 35.26 billion in the same period the previous year.

Quoted from Antara, Monday 2 October, BRI Finance's profits were supported by revenue which rose 42.71 percent (yoy) to IDR 568.60 billion during semester I-2023, compared to previously IDR 398.43 billion in the same period in 2022.

Consumer financing income was the largest contributor, namely IDR 333.70 billion, followed by operating rental income worth IDR 99.93 billion, finance lease income worth IDR 98.66 billion, and other income worth IDR 16.94 billion.

Then, there was a profit from the sale of operating lease assets worth IDR 9.50 billion, commission income worth IDR 4.33 billion, factoring income worth IDR 3.66 billion, and interest income worth IDR 1.84 billion.

In terms of region, Jabotabek was the largest contributor to the company's revenue which was recorded at IDR 277.40 billion, followed by East Java, Bali, Kalimantan and Sulawesi which contributed IDR 127.11 billion.

Then, the Sumatra Island region contributed IDR 71.30 billion in revenue, followed by the West Java region which contributed IDR 46.77 billion, and the Central Java region which contributed IDR 45.63 billion.

Along with rising revenues, the company's expenses also rose 43.25 percent (yoy) to IDR 502.52 billion during the first semester of 2023, compared to the previous IDR 350.79 billion.

Funding expenses were the largest contributor, namely IDR 206.62 billion, followed by salary and allowance expenses worth IDR 98.85 billion, and depreciation and amortization expenses worth IDR 90.62 billion.

Then, the allowance for impairment losses contributed to expenses worth IDR 58.84 billion, followed by general and administrative expenses worth IDR 35.73 billion, occupancy expenses worth IDR 4.22 billion, and losses from net exchange differences worth IDR 654.35 million.

Meanwhile, as of semester I-2023, BRI Finance's total assets were recorded at IDR 8.05 trillion, with total equity recorded at IDR 1.26 trillion and total liabilities at IDR 6.78 trillion.