REPUBLIKA.CO.ID, JAKARTA -- State lender Bank Rakyat Indonesia (BRI) posted a net profit of Rp6.47 trillion in the first quarter of 2017, an increase by 5.5 percent compared to Rp6.1 trillion in the same period last year.

"The hike was fueled by the distribution of credits, which grew above the average industrial growth as well as by a rise in fee-based income," BRI President Director Suprajarto stated at a press briefing on the bank's first-quarter financial performance here on Thursday.

The bank distributed Rp653.1 trillion in credits as of late March 2017, an increase by 16.4 percent from Rp561.1 trillion as of late March 2016.

BRI earned a fee-based income of Rp2.5 trillion in the first quarter of 2017, a 29.3 percent increase compared to the same period last year when it was recorded at Rp2 trillion.

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