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PT Bank Rakyat Indonesia Tbk (BRI)'s assets have surpassed Rp 1,000 trillion for the first time in the bank's history. This also marks the first time an Indonesian bank has achieved assets exceeding Rp 1,000 trillion.
In its financial report ending December 31, 2016, BRI's assets increased by 14.3 percent to Rp 1,003.6 trillion from Rp 878.4 trillion at the end of 2015. This asset growth is attributable to strong loan disbursement performance throughout 2016, with its loan portfolio increasing by 13.8 percent to Rp 635.5 trillion. This significantly surpasses the national banking credit growth of 8.46 percent (as of November 2016).
Throughout 2016, BRI achieved a (consolidated) net profit of Rp 26.3 trillion, a slight increase of 3.14 percent compared to the previous year's Rp 25.41 trillion. However, this bank, which has approximately 33 percent micro-credit portfolio, has recorded the highest profit among Indonesian banks for twelve consecutive years.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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