BRI Targets Remitancy Transactions To Grow 25 Percent In The Ramadan And Eid Periods 2023

JAKARTA - PT Bank Rakyat Indonesia (Persero) Tbk or BRI targets remittance transactions to grow by 25 percent during the Ramadan and Lebaran periods in 2023 compared to the normal period.

Thus, this target is higher than in previous years, where usually BRI's remittance business managed to grow 20 percent during the Ramadan and Eid periods.

"The target considers that the higher transaction growth rate has been obtained at the beginning of this year, which is 18 percent in March 2023 compared to the same period the previous year (year-on-year/yoy)," said BRI SEVP Treasury and Global Services Achmad Royadi in an official statement in Jakarta, quoted from Antara, Thursday, April 13.

Not only that, he said, the remittance service activity at the beginning of this year received an impressive BRI business fee-based income (FBI), which was 75 percent (yoy) in March 2023. Thus, it is hoped that BRI's remittance performance will accelerate until the end of 2023.

BRI is optimistic that it can maintain this good performance until the end of 2023 in line with digital innovation and customer involvement which is built as a culture in running the company's business.

Achmad explained that the increase in remittance transactions is inseparable from the optimization of Bank Representative (BR) in several state corridors spread across Southeast Asia, East Asia, and the Middle East in helping to answer all needs of Indonesian community remittance services.

So far, the largest contributors to BRI's remittance business come from the countries of Hong Kong, Taiwan, Malaysia, and Saudi Arabia.

In meeting the needs of remittance services, BRI has BRIFast Remittance services which can be a solution for sending money to 8,993 BRI offices and more than 650 thousand BRILink Agents throughout Indonesia.

BRIFast Remittance can facilitate BRI partners through several remittance options for customers, especially Indonesian Migrant Workers (PMI) abroad. PMI can choose several types of delivery mechanisms, including sending money directly to bank accounts and sending it by cash collection mechanism without an account (BRIFast Cash).

On the other hand, to facilitate customer needs in sending funds from Indonesia to other countries (outward commitment), BRI also provides services for the International Transfer feature through BRImo digital banking and monitors the status of delivery transactions via BRIfast Tracker.