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Transformation spurs optimism on BNI’s side
Transformation has been the motivating force behind the development of state-owned enterprises (SOEs) for the last three years.
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(left to right) State-Owned Enterprises (SOEs) Minister Erick Thohir, Deputy SOEs Minister II Kartika Wirjoatmodjo, Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan, former United Kingdom prime minister Tony Blair and deputy SOEs Minister I Pahala Nugraha Mansyuri attend the SOE International Conference – #BUMNuntukG20 #SOEInternationalConference – at the Nusa Dua Conference Center in Bali on Monday. (Photo: BNI)
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ransformation has been the motivating force behind the development of state-owned enterprises (SOEs) for the last three years. As one of the drivers behind the state-owned banking sector, PT Bank Negara Indonesia (Persero) Tbk. or BNI (stock code: BBNI) is optimistic that its performance will remain on a positive trajectory with the implementation of prudent risk management.
According to SOEs Minister Erick Thohir, the progress so far has paid off with a brilliant performance over the past three years. Moreover, SOEs have succeeded in encouraging a transformation program coupled with continuous performance improvement efforts.
In 2021, SOE revenues reached US$160 billion with 18.8 percent year-on-year (yoy) growth and net profit of US$9 with an 838 percent yoy rise. SOE assets were recorded at $630 billion, representing 53 percent of the country’s GDP.
Erick also believes that transformation can still be the key to success for state-owned companies, as well as business actors as a whole, in responding to future economic developments.
“We believe in strengthening [BNI’s] portfolio, governance, risk management, human resources, corporate performance, as well as synergy with strategic partners to encourage Indonesia’s upcoming growth," he said at the SOE International Conference, with the hashtags #BUMNuntukG20 #SOEInternationalConference, at the Bali Nusa Dua Conference Center in Bali on Monday.
BNI president director Royke Tumilaar added that BNI was a part of transforming SOEs to encourage healthy and sustainable growth. By targeting top tier borrowers in the prospective industrial segment accompanied by prudent risk management policies, BNI expects credit growth of 7 to 10 percent for the year 2022.
“Of course, transformation plays a vital role. We continue to improve every line of business operations in order to improve the financial fundamentals and the company's capability to carry out its functions of intermediation, investment and providing superior financial transaction solutions through digitization. We hope that BNI's transformation journey can further strengthen the performance of economic recovery," he said.
Royke added that BNI had many opportunities to seize in the second semester. Furthermore, he noted, it was largely understood that strong domestic consumption growth would continue to stimulate the expansion of companies in various sectors and segments from large to small.
In order to boost financial inclusion, BNI has prepared various channels and programs that are expected to promote equity and increase economic stability.
“We have three hero products, namely BNI Mobile Banking for individual customers’ banking solutions, BNIDirect for the financial management of institutional customers and BNI Xpora to help local MSMEs Go International. We also have more than 164 thousand Agen46 agents to provide banking services to communities in remote areas,” he concluded.
