JAKARTA, Indonesia, October 31, 2024 /PRNewswire/ — PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: CSTC) maintained its strong performance despite global and domestic economic challenges, achieving a net profit of IDR 45.36 trillion in the third quarter of 2014. During the press conference on financial performance on October 30Sunarso, Chairman and Director of BIS, said: “This achievement is the result of BIS’s continued focus on strengthening performance fundamentals and implementing strategic responses to manage market dynamics. »

By September 2024the BIS had disbursed IDR 1,353.36 trillion in credits, i.e. growth of 8.21% over one year, of which 81.70% (IDR 1,105.70 trillion) went to the MSME segment. This growth also increased BIS assets by 5.94% to IDR 1,961.92 trillion. “The BRI is here to enable MSMEs to become a crucial pillar of national economic growth,” explained Sunarso, highlighting the bank’s role in building an inclusive economy.

The BIS has also improved asset quality, with NPLs falling to 2.90% and LAR to 11.66% in the third quarter of 2024, thanks to disciplined risk management and an early warning system. The bank strengthened its reserves with an NPL coverage rate of 215.44%. “The BIS has implemented various risk mitigation measures, ranging from selective growth to proactive credit monitoring and collaborative problem resolution,” he said. On the liabilities side, the BIS noted IDR 1,362.42 trillion in third-party funds (DPK), up 5.59% over one year. Low-cost funds (CASA) dominate at 64.17%, compared to 63.64% last year.

One of the key drivers of BRI’s growth in the low-cost funds space is its digital transformation through the BRImo super-app, which offers banking services accessible anytime, anywhere. By September 2024BRImo reached 37.14 million users, with transaction volume increasing 35.20% year-on-year to reach 4,034,000 billion IDR.

BRI has also expanded hybrid banking services to underserved areas, with over 1.02 million BRILink agents in 62,227 villages supporting national financial inclusion. From January to September 2024these agents facilitated 1,170,000 billion IDR in transactions of 859 million interactions.

Furthermore, BIS’s performance in Q3 2024 is supported by strong liquidity (LDR of 89.18%) and capital (CAR of 26.76%). “Going forward, the BIS will prudently manage liquidity to ensure its preparedness for global and domestic economic challenges, providing room for additional growth,” Sunarso added.

“The BIS is confident of closing 2024 on a positive note, focusing on strengthening fundamentals and building resilience to face global and domestic challenges,” concluded Sunarso.

For more information on the BRI, please visit www.bri.co.id

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SOURCE PT Bank Rakyat Indonesia Tbk (BRI)