BRI Bank's Net Profit Soared 66% to Rp 31 Trillion in 2021

PT Bank Rakyat Indonesia (Persero) Tbk achieved a net profit of Rp 31.07 trillion (consolidated) throughout 2021. This achievement surged by 66.5% compared to the previous year, which only reached Rp 18.65 trillion.

However, this achievement is still lower than before the Covid-19 pandemic. The growth of the bank's profit, which has the trading code BBRI, was supported by the increase in credit and third-party funds, as well as the significant growth in interest expenses. Bank BRI's credit grew by 7.16%, exceeding the industry's growth of only 5.24% last year.

Bank BRI's interest income grew by 5.71% to Rp 143.52 trillion in 2021 compared to the previous year's Rp 135.76 trillion. Meanwhile, its interest expense decreased by 30.23% to Rp 29.43 trillion last year, compared to Rp 42.18 trillion in the previous year.

Bank BRI's assets grew by 4.23% to Rp 1.68 quadrillion (consolidated) throughout 2021 from Rp 1.61 quadrillion in the previous year. Specifically, total liabilities grew by 0.41% to Rp 1.39 quadrillion, and total equity increased by 27.16% to Rp 291.79 trillion in 2021 from the previous year.

The Capital Adequacy Ratio (CAR) of the government-owned bank increased to 25.28% in 2021 compared to 20.61% in the previous year. The net Non-Performing Loans (NPL) ratio decreased to 0.7% in 2021 compared to 0.8% in the previous year. However, its gross NPL increased to 3.08% from 2.94% previously.