REPUBLIKA.CO.ID, JAKARTA -- Banking services nowadays are very diverse with digital financial products. According to Sunarso, CEO of Bank Rakyat Indonesia (BRI), the bank managed to respond the needs and changes in the transaction habit of communities by expanding capability of mobile banking, BRImo. Evidently, by the end of March 2024, it was noted that BriMo had 33.5 million users (users) or grew by 30.3 percent yoy.
“In 3 months, BriMo managed to process 969 million financial transactions with transaction volume reaching Rp 1.251 trillion or growing by 41.8 percent yoy,” said BRI Deputy President Director Catur Budi Harto in the QI/2024 Performance Presentation Press Conference online, Thursday (25/4/2024).
The contribution of BriMo super apps has also been one of the drivers of BRI profit growth through the performance of Fee Based Income. Not only that, the presence of Agenbrilink also contributes greatly to BRI's Fee Based Income performance.
During January-March 2024, the agency managed to record 285 million financial transactions with a transaction volume of IDR 370 trillion and contributed Fee Based Income to BRI worth Rp 395 billion. By the end of March 2024, BRI alone had 796,836 agents spread across 61,122 villages throughout Indonesia.
From the operational side, the company is able to continuously improve its operational efficiency. This is reflected by the ever-improving Cost to Income Ratio (CIR). The BRI CIR at the end of March 2024 was 37.43 percent or better than the CIR at the end of March 2023 which amounted to 41.83 percent “The decline in CIR indicates that BRI is managing costs effectively and efficiently in generating revenue,” he added.
“With positive performance in the first three months of 2024, BRI is optimistic that BRI can continue to grow sustainably by promoting prudential banking principles, as well as good risk management amid the dynamics of global economic and geopolitical conditions that need to be watched. BRI will focus more on responding to domestic challenges, especially through the empowerment of SMEs,” said Catur.
