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BRI posts Rp16 trillion consolidated profit, 8.1 percent growth

Jakarta (ANTARA) – PT Bank Rakyat Indonesia (BRI) booked an 8.19 percent year-on-year (yoy) rise in consolidated profit to Rp16.16 trillion in Q2 2019, or lower than the 11 percent yoy increase during the corresponding period last year.

The growth was lower this year, as BRI had to bear a burden from the performance of a newly acquired subsidiary, PT Danareksa Sekuritas, BRI President Director Suprajarto stated here on Wednesday.

BRI officially owned 67 percent of the shares of Danareksa Sekuritas as of late 2018 in accordance with its target to enter the stock exchange and underwriting businesses.

Suprajarto expressed optimism that Danareksa Sekuritas would recover and be able to contribute to BRI’s profit target at 12 percent late this year.

In Q2 of 2019, as a whole, BRI’s profit grew 11.84 percent to Rp888.32 trillion. Of the total BRI loans, the micro-, small-, and medium-scale enterprises (MSME) continued to dominate, reaching Rp681.50 trillion, or 76.72 percent, with growth at 13 percent. In terms of the People’s Business Credits (KUR), BRI has disbursed Rp50.29 trillion to over 1.2 million debtors, or 57.8 percent of the target set by the government in 2019, at Rp86.97 trillion.

Based on the performances, BRI’s assets reached Rp1,288.20 trillion, or up 11.7 percent.

BRI also managed to collect Third Parties’ Funds (DPK) amounting to Rp945.05 trillion, or an increase of 12.78 percent (yoy).

Related news: BRI’s net profit up 11.6 percent to Rp32.4 trillion in 2018

Article source: https://en.antaranews.com/news/130996/bri-posts-rp16-trillion-consolidated-profit-81-percent-growth