BRI's Net Profit Rises 12%, Reaching Rp44 Trillion in Q3 2023

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Erlina Fury Santika 27/10/2023 17:08 WIB

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State-Owned Bank BRI recorded a net profit of Rp43.99 trillion in the third quarter of 2023. This figure is up 12.35% from the achievement in the third quarter of 2022, which amounted to Rp39.15 trill

Bank BRI Revenue* and Net Profit (Q3 2022 - Q3 2023)

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BRI's Net Profit Rises 12%, Reaching Rp44 Trillion in Q3 2023

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Bank BRI Revenue* and Net Profit (Q3 2022 - Q3 2023)

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BRI's financial report shows that net profit attributable to the parent entity reached Rp43.99 trillion in Q3 2023. This figure is up 12.35% from Rp39.15 trillion in Q3 2022.

Including profit attributable to non-controlling interests of Rp220.96 billion, BRI's total net profit reached Rp44.21 trillion in Q3 2023. This total net profit also increased from Rp39.31 trillion in Q3 2022.

Q3 2023 earnings increased earnings per share to Rp292 per share, compared to Rp259 per share in Q3 2022.

Net interest and sharia income amounted to Rp101.19 trillion, up from Rp96.50 trillion. According to *Katadata*, on a bank-only basis, BRI's net interest income reached Rp81.79 trillion, compared to Rp79.39 trillion in September 2022.

BRI also recorded assets of Rp1,851 trillion as of Q3 2023, a 9.93% increase year-on-year (yoy) from Rp1,726 trillion.

The state-owned enterprise (SOE) with the stock code BBRI booked credit disbursement of Rp1,250.72 trillion in Q3 2023, a 12.53% yoy increase. In terms of composition, 83.06% of its total credit, or Rp1,038.90 trillion, was channeled to the Micro, Small, and Medium Enterprises (MSMEs) sector.

In terms of Non-Performing Loan (NPL) ratio, BRI's gross NPL increased slightly to 3.23% from 3.14% yoy. Meanwhile, net NPL decreased to 0.73% from 0.87% yoy, with an NPL Coverage ratio of 228.65%.

BRI's net interest margin slightly decreased to 6.97% from 7.23% yoy. However, BRI's Capital Adequacy Ratio (CAR) remained at 27.48%, and its Loan to Deposit Ratio (LDR) was at 88.34%, not significantly different from 88.94% in Q3 2022.

Editor : Erlina Fury Santika

"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."