Having Sufficient Liquidity And Capital, BRI Is Optimistic To Grow In 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - BRI President Director Sunarso revealed that BRI managed to maintain its liquidity ratio at an adequate level, where BRI LDR was recorded at the end of December 2023 at 84.2 percent. In addition, BRI is also able to maintain a capital adequacy ratio (CAR) at an adequate level of 27.3 percent.

"With this adequate liquidity and capital condition, the company still has room to grow better this year," said Sunarso, quoted on Saturday, February 3.

Under any circumstances, he continued, BRI consistently implements a just right liquidity strategy.

"This means that we do not accumulate excessive liquidity, but also do not allow us to lack liquidity, so that BRI can continue to grow optimally," he added.

Nevertheless, Sunarso also said that for the first quarter of 2024, his party believed that liquidity still had challenging, especially with the benchmark interest rate at the level of 6 percent.

"Our hope is that after one semester, hopefully it can enter the era of low or normal interest rates again. Therefore, BRI continues to open space for adjustment of interest rates, both loans and deposits. Of course, considering many factors such as cost of funds, competition, and economic conditions," he explained.

Despite the challenges in the form of strict liquidity, BRI is still targeting aggressive credit growth in 2024.

"Now BRI is growing on 11.2 percent credit, then BRI wants to continue to grow aggressively in 2024, which is 11-12 percent," he said.

Sunarso revealed that BRI's strategy will remain focused on the MSME segment, especially the ultra micro segment. Therefore, Ultra Micro Holding (UMi) will still be used as a new source of growth.

As previously known, BRI announced its financial performance in 2023 on January 31, 2024, where BRI managed to close it in 2023 with brilliant performance and continued growth. Sunarso revealed that on a consolidated basis, the company's assets grew 5.3 percent yoy to Rp1,965 trillion, and posted a profit of Rp60.4 trillion or grew 17.5 percent year on year (yoy).

In terms of the intermediation function, until the end of December 2023, BRI succeeded in encouraging credit distribution to grow 11.2 percent yoy to Rp1,266.4 trillion. This achievement was recorded to be higher than the lending of the national banking industry which was 10.4 percent yoy throughout 2023.