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BRI: The most resilient BUMN in 2020
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T Bank Rakyat Indonesia (Persero) Tbk (BRI) was named the Most Resilient BUMN (state-owned enterprise) as the national lender won three prestigious awards in the category of public finance company with assets over Rp 15 trillion at the recent Bisnis Indonesia TOP BUMN Award 2020 "Survive in Crisis: The Most Resilient BUMN 2020".
The other two awards came in the field of leadership and finance with BRI president director Sunarso declared as The Best CEO and BRI director of finance Haru Koesmahargyo as The Best CFO.
The awards, which were presented by the Bisnis Indonesia daily in Jakarta on Nov. 30, were a token of appreciation for BRI's resilient performance as a state-owned enterprise in the financial sector in the midst of an ongoing challenging situation due to the COVID-19 pandemic.
The appreciation given to BRI was based on the assessment by a jury panel as well as the study and research by the Indonesian Business Consultant on all BUMN companies’ financial reports.
An assessment of the people, strategies, policies and ways of adapting a company in the pandemic era was also made to determine the winner of The Best CEO and CFO of a BUMN.
The people behind the strategies, policies and their adapted executions during the pandemic was also screened to pick the winners of Best CEO and Best CFO, both of which went to BRI.
"I dedicate these awards to the entire BRILian community, namely BRI employees everywhere, from all levels including those who serve people in remote areas across the country. These awards are very meaningful to all of us, because they reflect the recognition of the hard work and sincerity of all BRILian people to maintain strong business,” Best CEO Sunarso said while receiving the awards.
Sunarso also mentioned micro, small and medium enterprises (MSMEs) as contributing significantly to BRI’s performance and pointed out that the awards achieved by BRI also deserved to be presented to the MSME players across Indonesia.
"In this difficult situation, fellow employees at all BRI work units remain resilient in the restructuring efforts to save our MSME customers. Saving MSMEs also means saving BRI itself. Because the portion of MSMEs to GDP is 68 percent, saving MSMEs is also equal to saving the Indonesian economy,” he said.
On the same occasion, Best CFO Haru said the award he received would serve as motivation to deliver better services to people.
"This award is a tool of introspection to make improvements, improve service quality and provide added value to all stakeholders. Thank you for your trust in us, and we will continue to be committed to making a company that maintains public trust,” Haru said.
State-Owned Enterprises Ministry secretary Susyanto said that during the COVID-19 pandemic, state-owned companies had to show extra capabilities, innovate and improve company performance, given the fact that 90 percent of state-owned enterprises had been affected by the pandemic.
"Many state-owned enterprises are struggling to survive this pandemic and are trying to get out of the pandemic pressure by taking important steps and strategies so that performance is not affected greatly by the impediments that arise, in order to avoid deeper losses," he said during the award ceremony.
"As agents of development, state-owned enterprises must continue to carry out social functions by actively participating in helping the government overcome the pandemic adversaries, directly and indirectly," he said.
Despite going through difficult times, until the third quarter of this year BRI was still able to record a positive performance. BRI's asset value continued to grow by 10.89 percent on an annual basis (year-on-year) to Rp 1.447 quadrillion. In the same period, the company's profit was Rp 14.15 trillion.
BRI has taken an active role in saving MSMEs in the midst of the pandemic and implementing the National Economic Recovery (PEN) program, which saw the channeling of a Rp 45 trillion stimulus package to 1.17 million debtors and a Rp 192.25 trillion credit restructuring package to 2.95 million debtors.
The stimulus packages included the disbursement of MSMEs credit guarantee (Rp 6.19 trillion) to 10,000 borrowers, the distribution of interest subsidies for MSMEs (Rp 3.83 trillion) to 6.5 million borrowers and super micro KUR distribution (Rp 5.2 trillion) to nearly 600,000 customers.
In addition, BRI disbursed the Micro Business Productive Assistance (BPUM) worth Rp. 6.2 trillion to 2.6 million micro entrepreneurs and distributed subsidies for workers amounting to Rp 3.96 trillion to 3.3 million beneficiaries.
Sunarso said BRI monitored the stimulus packages closely to ensure that they effectively empowered the beneficiaries as expected.
"We see to it that stimulus reaches the community. This stimulus will increase people’s purchasing power and we will be able to improve business if there is demand,” he said.
The company is optimistic about the "business follows stimulus" strategy that is being implemented.
"We see [economic] recovery beckoning on the horizon. Hopefully, this, coupled with vaccinations, makes us safer so that economic activity can resume normally,” Sunarso said.
Amid the pandemic, BRI heeds people’s safety concerns while looking to help the government empower the national economy. This calls for resilience, which BRI has proven that it has.
