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BANKING - JAKARTA. PT Bank Rakyat Indonesia Tbk (BBRI) has distributed loans amounting to IDR 1.089,41 trillion to the micro, small, and medium enterprises (MSME) sector as of the first quarter of 2024.
This figure represents 83.25% of the total loans distributed during the first quarter of 2024. BRI has distributed loans totaling IDR 1.308,65 trillion as of March 2024.
Catur Budi Harto, Deputy CEO of BRI, stated that BRI's MSME portfolio, which accounts for 83.25% of total loans, has a significant impact on the resilience of the national economy.
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"This is considering that MSMEs contribute to about 97% of job creation in Indonesia and contribute to approximately 61% of the GDP," he said in a recent presentation.
Catur noted that BRI's significant loan growth amid economic challenges is partly due to the MSME segment. This segment is known for its resilience to various shocks.
The distribution of loans to MSMEs during the first quarter of 2024 grew by 10.08% annually or Year on Year (YoY). In addition, BRI also provided loans worth IDR 59.2 trillion for the micro-segment.
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Meanwhile, loan distribution for small businesses reached IDR 12.1 trillion in the first quarter of 2023, an increase of 5.4% annually. For the medium business segment, BRI has distributed financing worth IDR 8.3 trillion.
"To support national economic growth, BRI will continue to encourage job creation, especially in the MSME segment, through the distribution of quality loans,” said Catur.
