REPUBLIKA.CO.ID, JAKARTA -- Amid the dynamics of global economic and geopolitical conditions full of challenges, Bank Rakyat Indonesia (BRI) will continue to closely monitor the development of global economic conditions and at the same time will focus more on domestic challenges.
“Global economic conditions are currently experiencing high uncertainty, as the Fed is expected to keep its benchmark interest rate high for longer to dampen the pace of inflation in the United States. On the other hand, geopolitical tensions in the Middle East are heating up causing investors to move their assets to “safe havens” thereby depressing the exchange rate of the Rupiah against the Dollar and the Combined Stock Price Index (IHSG),” explained BRI Catur Budi Harto, Deputy Managing Director of BRI Catur Budi Harto in the QI/2024 Performance Presentation Press Conference online on Thursday (25/4/2024).
Nonetheless, Chess remains optimistic with BRI's performance going forward and will focus more on domestic challenges. “The Company sees the current national economic conditions as resilient to the stability of the global economy and BRI is committed to supporting government program programs that support domestic economic growth,” he added.
One form of BRI's commitment to supporting national economic growth is to promote job creation, especially in the SME segment through the provision of qualified credit.
This is evidenced, BRI managed to post consolidated net profit attributable to owners of Rp 15.98 trillion in the first quarter of 2024. This figure grew by 2.69 percent on an annual basis (yoy) compared to the first quarter of 2023, i.e. IDR 15.56 trillion.
Until the end of March 2024, BRI managed to distribute credit of IDR 1,308.65 trillion or double digit growth of 10.89 percent year on year. Of these loans, 83.25 percent of them or IDR 1,089.41 trillion are credit portfolios for the MSME segment.
The issuance of loans that grew in double digits had an impact on the increasing assets of the company, where BRI's assets amounted to Rp 1,989.07 trillion or grew 9.11 percent yoy.
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