BRI Bank Net Profit Increases 12.47% in the Third Quarter of 2023

One of the state-owned companies, namely PT Bank Rakyat Indonesia Tbk (BBRI), until September 2023, recorded a consolidated net profit of IDR 44.21 trillion, this profit increased by 12.47% from the previous year, which saw a profit of IDR 259 trillion.

Based on the financial report released on Wednesday (25/10), BRI recorded net interest income of IDR 101.19 trillion, down from IDR 96.50 trillion in the previous year. Meanwhile, BRI's overall net interest income reached IDR 81.79 trillion, down from IDR 79.39 trillion in September 2022. In the first nine months of this year, BRI recorded disbursement of credit worth IDR 1,250.72 trillion, up 12.53% year on year. Overall, the MSME sector received 83.06% of total credit, or IDR 1,038.90 trillion.

BRI Third Party Funds (DPK) rose 13.21% on an annual basis to IDR 1,290.29 trillion. Cheap funds, aka CASA, are the main driver of DPK acquisition, contributing around 63.64% of the total DPK.

From a financial perspective, BRI's non-performing loans (NPL) ratio increased slightly to 3.23% from 3.14% in the previous year, while net NPL was recorded to have decreased to 0.73% from the previous year's 0.87% with an NPL ratio Coverage 228.65%. BBRI's net interest margin decreased slightly to 6.97% from the previous year's 7.23%, while BRI's capital ratio, also known as Capital Adequacy Ratio (CAR), remained stable at 27.48%.