JAKARTA. Some of major banks have released their 2016 financial performance reports. Recently, Bank Rakyat Indonesia (BRI) has just released the financial performance, Tuesday (31/1).
The report shows that BRI’s profits grew by 2.18% to Rp 25.8 trillion (bank only) in 2016. The profit growth in 2016 was lower compared with the profit growth in 2016 that stood at 4.15%. Despite of the low growth, BRI remains the bank with the largest profit. Meanwhile, the consolidation profit of BRI also increased by 3.2% to Rp 26.23 trillion.
According to Vice Presdent Director of BRI Sunarso, the low profit growth was caused by the increase in provision. Last year, BRI’s provision increased by 170.34% so that non-performing loan (NPL) rate of the bank could be controlled at the level of 2.02%, equal with the NPL rate in 2015.
Financial Director of BRI Haru Koesmahargyo said, BRI will reduce the provisions to 160% in this year.
Actually, BRI’s credit allocation could grow by two digits. President Director of BRI Asmawi Syam said, BRI’s credit allocation in 2016 grew by 13.8% to Rp 635.3 trillion. Credit growth in 2016 was mainly driven by micro credit, Asmawi told KONTAN, Tuesday (31/1). In 2016, BRI’s micro credit grew by 18.2% to Rp 211.5 trillion and contributed to 72% of the total credits.
BRI’s performance in the last year was also driven by fee based income growth. During that period, the fee based income grew by 26% to Rp 9.2 trillion.
Meanwhile, the third party funds of BRI in 2016 increased by 12.6% to Rp 723.8 trillion.
Asmawi added, in this year, BRI’s credit allocation will depend on three sectors, namely micro, retail, and corporate sectors. Aside of those three sectors, infrastructure credit is also expected to be able to boost BRI’s credit allocation.
Strengthening subsidiaries
In order to strengthen its performance, BRI is planning to inject a total of Rp 2 trillion capitals to BRI Agro and BRI Life in this year.
“We are strengthening BRI Agro to be upgraded to the category of BUKU III (Commercial Banks Group of Business Activities III) in 2018,” Haru said.
In order to expand the funding, BRI will release maximum bonds as much as Rp 11,5 trillion, consist of bonds and medium term notes. The bonds will be ranging at Rp 7 trillion-Rp 8 trillion, as the part of a continuous bond worth a total of Rp 20 trillion. (Muhammad Farid/Translator)
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