Jakarta (0426) – PT. Bank Rakyat Indonesia (BRI) held a financial performance press conference to announce its impressive performance for the first quarter of 2024. Despite global economic and geopolitical challenges, BRI recorded a profit of IDR 15.98 trillion during this period.
BRI’s success can be attributed to its support for various loan segments, including micro, consumer, small and medium, and corporate sectors. Notably, the bank maintained stable credit quality with a Non-Performing Loan (NPL) ratio of approximately 3.11% at the end of Q1 2024.
The bank also experienced significant growth in Third-Party Funds (TPF), totaling IDR 1,416.21 trillion, which marked a 12.80% increase compared to the previous year. BRI strategically focused on bolstering its funding base through the expansion of Current Account Savings Account (CASA), which grew by 7.80% year-on-year, providing stable and sustainable low-cost funding.
BRI’s strong financial ratios further contributed to its success, with an 83.28% Loan to Deposit Ratio (LDR) and a robust 23.97% Capital Adequacy Ratio (CAR). These ratios position the bank for future growth and ensure its stability in the market.
The bank’s profit growth was driven by a 6.92% year-over-year increase in Fee Based Income (FBI). The BRImo super app, which boasts 33.5 million users, played a significant role in this growth, facilitating 969 million financial transactions totaling IDR 1.251 trillion in three months, a remarkable 41.8% increase from the previous year.
BRI’s FBI was further augmented by AgenBRILink, which recorded 285 million transactions valued at IDR 370 trillion from January to March 2024, generating IDR 395 billion. The bank has also expanded its network to 796,836 agents across 61,122 Indonesian villages, providing greater accessibility to its services.
Through effective cost management, BRI reduced its Cost to Income Ratio (CIR) to 37.43% by March 2024, further improving its operational efficiency and driving revenue.
As BRI continues to thrive amidst global instability, it remains dedicated to supporting government initiatives for domestic economic growth. For more information about PT. Bank Rakyat Indonesia, visit www.bri.co.id.
PT. Bank Rakyat Indonesia (BRI) has reported impressive financial performance in the first quarter of 2024, with a profit of IDR 15.98 trillion. This achievement is notable considering the global economic and geopolitical challenges faced during this period.
One key factor contributing to BRI’s success is its support for various loan segments, including micro, consumer, small and medium, and corporate sectors. This diversified approach has helped the bank maintain stable credit quality, with a Non-Performing Loan (NPL) ratio of approximately 3.11% at the end of Q1 2024.
Furthermore, BRI has experienced significant growth in Third-Party Funds (TPF), with a total of IDR 1,416.21 trillion, marking a 12.80% increase compared to the previous year. The bank has strategically focused on expanding its Current Account Savings Account (CASA), which grew by 7.80% year-on-year. This approach provides stable and sustainable low-cost funding for BRI.
BRI’s strong financial ratios also contribute to its success. The bank has an 83.28% Loan to Deposit Ratio (LDR) and a robust 23.97% Capital Adequacy Ratio (CAR). These ratios position BRI for future growth and ensure its stability in the market.
The bank’s profit growth can be attributed to a 6.92% year-over-year increase in Fee Based Income (FBI). The BRImo super app, with 33.5 million users, played a significant role in this growth, facilitating 969 million financial transactions totaling IDR 1.251 trillion in three months. This represents a remarkable 41.8% increase from the previous year.
BRI’s FBI was further augmented by AgenBRILink, which recorded 285 million transactions valued at IDR 370 trillion from January to March 2024, generating IDR 395 billion. The bank has also expanded its network to 796,836 agents across 61,122 Indonesian villages, providing greater accessibility to its services.
Effective cost management has been another key aspect of BRI’s success. The bank reduced its Cost to Income Ratio (CIR) to 37.43% by March 2024, improving operational efficiency and driving revenue.
Despite its strong performance, BRI continues to face challenges posed by global instability. The bank, however, remains dedicated to supporting government initiatives for domestic economic growth.
Some key advantages of BRI’s performance include its diverse loan segment support, stable credit quality, significant growth in Third-Party Funds, strong financial ratios, and effective cost management. These factors contribute to the bank’s stability and potential for future growth.
As for disadvantages, the article does not mention any specific challenges or controversies associated with BRI’s performance in the first quarter of 2024.
For more information about PT. Bank Rakyat Indonesia, you can visit the official website at www.bri.co.id.