Deputy president director of BRI Catur Budi Harto stated that the dividend ratio was determined by considering projections of sustainable business growth, as well as in order to maintain a strong capital structure for business expansion and anticipate future risks that may occur in bank management. The dividend payout ratio for the 2020 financial year has increased compared to the dividend payout ratio for the 2019 financial year of 60 percent.

"In accordance with the Basel III implementation stages, the company wants to maintain the capital adequacy ratio (CAR) above 18 percent. In addition, the company still has sufficient room to grow, both organically and inorganically," said Catur.

In addition to the distribution of dividends, the meeting also approved the company's Annual Report, including the Supervisory Task Report that was carried out by the Board of Commissioners for the financial year ended 31 December 2020 and ratified the company's Consolidated Financial Statements for the financial year ended 31 December 2020, which had already been audited by KAP Purwantoro, Sungkoro & Surja.

In addition, the meeting also approved the Annual Report on the Implementation of the Partnership and Community Development Program for the 2020 financial year, and ratified the Financial Report for the Partnership and Community Development Program for the financial year ending on 31 December 2020, which was audited by KAP Purwantoro, Sungkoro & Surja.

The AGMS also granted the authority and power to the Dwiwarna Series A Shareholder to determine for members of the Board of Commissioners the amount of bonus for the 2020 financial year and salary/honorarium, allowances, facilities and other incentives for the 2021 fiscal year. In addition, the AGMS authorizes and powers the Board of Commissioners by first obtaining written approval from the Dwiwarna Series A Shareholder to determine for members of the Board of Directors the amount of tantiem for the 2020 fiscal year and salaries/honoraria, allowances, facilities and other incentives for the 2021 financial year.

As the final agenda, the AGMS also appointed Purwantono, Sungkoro & Surja (a member of the firm Ernst & Young Global Limited) as a public accounting firm that will audit the company's consolidated financial statements and financial statements for the Partnership Program and Community Development Program for the 2021 financial year.

BRI's Performance Throughout 2020

In general, the company's consolidated financial performance has consistently grown above the national banking industry as reflected in the company's financial statements for the financial year ended 31 December 2020, as follows:

1. Total assets reached IDR 1.5118 quadrillion, or a growth of 6.7 percent year-on-year (yoy).
2. Credit growth reached 3.9 percent (yoy) or Rp 938.4 trillion, with the composition of loans for the MSME segment reaching 82.1 percent. Meanwhile, BRI's Gross NPL was recorded at 2.99 percent. A maintained NPL demonstrates the company’s success in good asset management during a crisis;
3. Third party funds managed to grow 9.8 percent in 2020 to Rp 1.1211 quadrillion with a CASA ratio of 59.7 percent;
4. The company was able to book a net profit of IDR 18.66 trillion.

This period of crisis has further proven the company's consistency in saving MSMEs, so as to be able to "Turn Difficulties into Resilience". Several strategies have been implemented by the company, among others: saving MSMEs through the credit restructuring program and "Business Follow Stimulus" to grow business and loan demand by becoming a partner of the government in the PEN program.

The company as a group continues to take strategic and innovative steps in order to create income diversification and integrated financial services, so as to complement the broader financial needs of the Indonesian people.

Several corporate actions carried out by the company during 2020 include a strategic partnership with FWD Financial Services Pte. Ltd to accelerate BRI Life's business growth, additional participation in BRI Finance with the aim of developing consumer financing and merging BRI Syariah together with Bank Syariah Mandiri and BNI Syariah to become Bank Syariah Indonesia (BSI).

Accordingly, the BRI Group currently consists of seven subsidiaries, namely (i) PT Bank Rakyat Indonesia Agroniaga Tbk; (ii) BRI Remittance Co. Ltd. Hong Kong; (iii) PT Asuransi BRI Life; (iv) PT BRI Multifinance Indonesia; (v) PT BRI Danareksa Sekuritas; (vi) PT BRI Ventura Investama; and (vii) PT BRI Asuransi Indonesia.

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