Management of PY BanK Rakyat Indonesia Tbk - Photo by Bank Rakyat Indonesia

JAKARTA (TheInsiderStories) – State-owned lender PT Bank Rakyat Indonesia Tbk  (IDX:BBRI) booked net profit of Rp29.04 trillion (US$2.2 billion) in 2017, increased by 10.7 per cent from Rp25.5 trillion (US$1.9 billion) in previous year.

The share price of the bank reached the highest level all time at the close of trading on Tuesday (23/01) with share price of Rp 3,920 per share unit, along with the increase of market capitalization to Rp 483.52 Trillion.

This achievement makes the bank as the fourth largest entity in South East Asia in term of market capitalization.

“The net profit increase was supported by loan disbursements that grew higher than the industry and the increase of fee-based income,” BRI President Director Suprajarto said at a press conference in Jakarta on Wednesday.

In the year, BRI loans increased by 11.4 per cent year-on-year (yoy) to Rp 739.3 trillion, compared to Rp 663.4 trillion at the end of December 2016. Out of Rp739.3 trillion, the small and medium enterprise (SME) credit loan amounted  Rp 471 trillion, 72.1 per cent of the total portfolio, while the Loan Deposit Ratio (LDR) reach 87.8 per cent.

The fee-based income increased by 13.2 per cent yoy to Rp10.4 trillion. The fees related to deposits and e-banking increased 39 and 23 per cent respectively. Fee-based income now contributed 9.2 per cent to the total income.

“We aim for fee-based income to be 10 per cent of the total income in 2018,” Suprajarto said.

On Oct. 18 last year, the bank’s shareholders approved a 1-for-5 stock split scheme, in which the holder of one share will have the right to get five new shares. As a result, the bank shares nominal value is reduced from Rp250 to Rp50 per share.

Email: elisa.valenta@theinsiderstories.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here