BRI Bank Distributes Rp 10.48 Trillion in Dividends

In its Annual General Meeting of Shareholders (AGM), PT Bank BRI Tbk decided to distribute a dividend of 40 percent of its net profit in 2016. The total dividend for the 2016 fiscal year amounted to Rp 10.48 trillion, comprising Rp 7.86 trillion (30 percent) as regular dividend and Rp 2.62 trillion (10 percent) as special dividend. The remaining 60 percent, or Rp 15.72 trillion, of the 2016 fiscal year's net profit was allocated to retained earnings.

Bank BRI's dividend for the 2016 fiscal year increased by 37.47 percent compared to the previous year, which only reached Rp 7.62 trillion. Similarly, the payout ratio also increased from the previous year's 30 percent of the total 2015 profit. According to Bloomberg data, the total dividend paid by this government-owned bank has consistently increased since 2009.

Throughout 2016, Bank BRI achieved a profit of Rp 26.23 trillion, a 2.18 percent growth from the previous year. Its assets also grew by 14.3 percent to Rp 1,003.6 trillion, and the credit disbursed increased by 14.2 percent to Rp 663 trillion.