Maret 31, 2011
BRI’s Q1 net profit increases 25 percent
The Jakarta Post, Jakarta | Sat, 05/01/2010 12:12 PM | Business
State-owned Bank BRI saw its net profit increased by 25.14 percent in the first quarter to Rp 2.15 trillion (US$238.65 million) from Rp 1.72 trillion in the same period of last year, a bank director said on Friday.
BRI finance director Abdul Salam said that the achievement ensured the maintaining of BRI’s position as the bank with the highest net profit since 2005.
“The increase in net profit was supported by a 21.47 percent increase in BRI total assets,” Abdul told a press conference in Jakarta.
BRI’s total assets as of the first quarter increased to Rp 303.84 trillion from Rp 250.14 trillion as of the first quarter last year, while its equity increased by 25.14 percent to Rp 30.25 trillion from Rp 24.17 trillion.
This resulted in a 3.71 percent return on assets, higher than the 1.5 percent requirement for anchor banks. Meanwhile the return on equity was 33.61 percent and the capital adequacy ratio was 15.44 percent as compared to the central bank (BI) requirement of minimum 8 percent.
The first quarter’s net interest income reached Rp 6.64 trillion, up by 23.35 percent from Rp 5.38 trillion.
The increase in the bank’s total assets was caused by a 26.47 percent increase in the volume of the credit portfolio in the first quarter to Rp 208.96 trillion up from Rp 165.23 trillion in the same period last year while the level of gross non-performing loans remaining at 4.1 percent.
“BRI channeled 80 percent of its credits to micro, small and medium enterprises *MSMEs*,” Abdul said.
Out of the credits for MSMEs (Micro,, Small, and Medium Enterprises, Rp 5.3 trillion was channeled to 1.17 million micro borrowers under a micro-credit support (KUR) program, he said. On the deposit side, the third party funds generated by BRI as of the first quarter increased by 18.9 percent to Rp 241.5 billion from Rp 203.11 trillion as of the same period of last year, he said.
“Thus, BRI’s loan to deposit ratio stood at 86.53 percent as of the first quarter,” Abdul said.
When asked about the high interest rate on micro-borrowers, BRI MSME director Bambang Soepeno said that the 22 percent lending rate on micro credit was not burdensome on the borrowers.
He explained that the high rate was caused by the high costs of management of micro credits for a large number of micro-borrowers.
Bambang said that what mattered to the borrowers was the availability of the loans. “But we still support the government’s plan to cut the lending rate on micro credits,” he added
BRI managing director Sulaiman Arif Arianto said that the high lending rate was reasonable due to the high transactional costs involved.
BRI had 6,600 outlets across Indonesia, of which about 90 percent served the MSMEs. “A minimum of four officers were working in each outlet, making the operational costs h igh,” he said. (not)
Net Profit = Laba Bersih
Increased = Meningkat
First Quarter = Kwartal Pertama
Equity = Ekuitas
Capital Adequacy Ratio = RAsio Kecukupan Modal
Non-performing Loans = Pinjaman tidak berjalan
Enterpises = Usaha
Micro Credit-Support = Kredit Usaha Rakyat
Borrowers = Peminjam
Interest Rate = Suku Bunga
Burdensome = Membebani
Lending Rate = Suku Bunga untuk Peminjam
Operational Cost = Biaya Operasional
Entry Filed under: Uncategorized