BRI Bank Consistently Outperforms Other State-Owned Banks Over the Past Decade

PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) achieved a net profit attributable to the controlling entity of Rp 31.07 trillion in 2021. BRI's profit consistently outperformed the other three state-owned banks over the past decade, as shown in the graph.

In the same year, PT Bank Mandiri (Persero) Tbk (BMRI) achieved a net profit (consolidated) of Rp 28.03 trillion. Meanwhile, PT Bank Negara Indonesia (Persero) Tbk (BNI) recorded a net profit (consolidated) of Rp 10.9 trillion, and PT Bank Tabungan Negara (Persero) Tbk (BTN) recorded a net profit of only Rp 2.38 trillion.

In terms of profit growth, Bank BNI recorded the highest growth last year, reaching three times that of the previous year. The controlled spread of the Covid-19 virus and the easing of social activities enabled the four government-owned banks to record significant profit growth.

The following shows the profit growth of the four state-owned banks in 2021:

1. Bank BNI grew by 232.23%
2. Bank BRI grew by 66.53%
3. Bank Mandiri grew by 63.72%
4. Bank BTN grew by 48.30%

The growth in credit, the increase in third-party funds (DPK), and Bank Indonesia's 7-day Reserve Repo Rate benchmark interest rate maintained at its lowest level of 3.5% per annum resulted in significant growth in the profits of government-owned banks throughout last year compared to the previous year.