BRI Records Rp15 Trillion Profit in Q1 2023

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Adi Ahdiat 28/04/2023 19:50 WIB

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BRI and its subsidiaries recorded a net profit of Rp15.56 trillion in Q1 2023, a 27.37% increase compared to Q1 of the previous year.

BRI's Revenue* and Net Profit per Quarter I (2022-2023)

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BRI Records Rp15 Trillion Profit in Q1 2023

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BRI's Revenue* and Net Profit per Quarter I (2022-2023)

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Bank Rakyat Indonesia (BRI) and its subsidiaries recorded a net profit of Rp15.56 trillion in the first quarter of 2023, a 27.37% increase year-on-year (yoy).

During the same period, BRI's consolidated net interest income and sharia income grew by 7.8% (yoy) to Rp32.77 trillion.

BRI's profit in the first quarter of this year was supported by credit disbursement, totaling Rp1,180.12 trillion. The majority of this amount was allocated to micro, small, and medium enterprises (MSMEs).

"Specifically for the MSME segment, its portion has reached 83.86 percent of BRI's total credit, equivalent to Rp989.64 trillion," said BRI President Director Sunarso in a press release on Thursday (27/4/2023).

BRI also claims that its credit quality has improved, with a non-performing loan (NPL) ratio of 2.86% at the end of the first quarter of 2023. This ratio decreased compared to the first quarter of last year, which was 3.09%.

At the end of the first quarter of 2023, BRI had collected third-party funds (DPK) amounting to Rp1,255.45 trillion, a growth of 11.45% (yoy).

This DPK was mainly supported by low-cost funds or current account saving accounts (CASA), which grew by 13.01% (yoy) to Rp810.09 trillion. The CASA ratio also increased to 64.53%, compared to 63.63% in the first quarter of last year.

The increase in BRI's CASA ratio was supported by increased customer transactions in the micro, retail, and wholesale segments. In the micro and retail segments, CASA collection was carried out by optimizing transactions through AgenBRILink, the BRImo super app, and the BRI API digital payment platform.

With the positive performance at the beginning of this year, BRI President Director Sunarso views that global economic turmoil in 2023 will not significantly impact the domestic economy.

"The prospects and performance of the banking industry, especially BRI, will also be better in 2023, with BRI's credit projected to grow at a level of 10 percent to 12 percent, supported by growth in the MSME segment, especially micro and ultra-micro," said Sunarso.

Editor : Adi Ahdiat

"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."