REPUBLIKA.CO.ID, JAKARTA -- PT Bank Rakyat Indonesia (Persero) Tbk or BRI recorded credit distribution of IDR 1,266.4 trillion (about 82 million USD) in 2023, growing 11.2 percent annually (year-on-year).

"In terms of the intermediation function, until the end of December 2023, BRI succeeded in increasing credit distribution 11.2 percent yoy to IDR 1,266.4 trillion. This achievement was higher than the national banking industry's 10.4 percent throughout 2023," BRI President Director Sunarso said in Jakarta, Wednesday (Jan.31, 2024).

He explained that credit distribution in all segments grew positively. Credit in the micro segment was recorded as growing 10.9 percent yoy to IDR 611.2 trillion. Meanwhile, the consumer segment grew 13.4 percent yoy to IDR 190 trillion, the small and medium segment grew 8.6 percent yoy to IDR 267.5 trillion, and the corporate segment grew 13.8 percent yoy to IDR 197.7 trillion.

BRI's total MSME credit portfolio reached 84.4 percent of total credit distribution, or the equivalent of IDR 1,068.7 trillion. BRI's success in increasing its MSME credit portfolio cannot be separated from the acceleration of new sources of growth through the integration of the ultra-micro ecosystem. By the end of December 2023, the number of ultra-micro holding customers was recorded at 37.3 million borrowers. BRI Group's efforts to integrate customers in the ultra micro segment have had an impact on reducing the number of customers who do not have formal financial access.

In addition, BRI's credit quality performance is also maintained, reflected in Non-Performing Loans (NPL) which is at the level of 2.95 percent with NPL Coverage of 229.09 percent. "BRI's ability to manage NPLs below three percent proves good risk management principles, considering that the majority of our portfolio is in the MSME segment," Sunarso added.

BRI's Loan at Risk (LAR) was recorded at 13.8 percent at the end of December 2023, where this figure has decreased significantly when compared to BRI's LAR at its highest position at the peak of Covid-19 in September 2020 which reached 29.8 percent.

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