TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
State lender BRI sees 11.58% growth in net income in Q1
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
BRI president director Suprajarto (center) speaks at a press conference in this file photo. (JP/Anton Hermansyah)
S
tate-owned lender Bank Rakyat Indonesia (Persero) saw 11.4 percent year-on-year (yoy) growth in net income in the first quarter of 2018 to Rp 7.42 trillion (US$534.24 million) from RP 6.65 trillion in the same period last year.
Meanwhile, its credit grew 11.21 percent yoy to Rp 757.68 trillion, lower than the credit growth in the first quarter of 2017, which was recorded at 16.39 percent yoy.
BRI president director Suprajarto said on Thursday that the 11.21 percent growth was still higher than the average credit growth in the banking industry.
"This double-digit credit growth was above the average of the banking industry’s credit growth, which was recorded at 8.5 percent yoy in the first quarter," he said during a press conference.
He added that the bank increased its loan disbursement to its main market segment in micro, small and medium enterprises (MSMEs).
Loan disbursement to MSMEs reached Rp 584.7 trillion, 77.17 percent of the total portfolio, higher than the disbursement in the same period last year, which was recorded at 72.12 percent. "It reflects BRI's commitment to empowering the MSME sector," he said.
In terms of third-party funds, the bank also recorded significant growth, at 12.68 percent yoy to Rp 827 trillion, while average growth in the banking industry stood at 7.7 percent.
However, the bank's non-performing loan (NPL) in the first quarter worsened to 2.46 percent from 2.22 percent in the same period last year. The NPL was still better than the banking industry's average at 2.75 percent. (bbn)
