Indonesia: BRI Strives to Maintain Strong Presence in ASEAN

• Apr 19, 2017

TEMPO.CO, Jakarta – State-owned lender Bank Rakyat Indonesia (BRI) is aiming to become the most valuable bank in Southeast Asia by 2022, as set forth in its corporate plan for 2018-2022.

BRI deputy president director Sunarso said that to achieve the target, the company will improve some indicators, including increasing the bank’s net profit within five years and developing market capitalization to over two-fold in the same period.

In 2016, the company posted a net profit of Rp 26.19 trillion, whereas its market capitalization as of April 18 was around Rp 315.05 trillion.

Therefore, the bank will carry out several necessary steps. The first step will be to focus on its mainstay segment, i.e. micro, small and medium-sized enterprises (SMEs). The second step will be is to enhance its subsidiaries and transform its business process with technology for quicker transactions.

“As of now, we are already focused on [developing] SMEs. We will be more focused. Meaning that our subsidiaries will be pushed to enhance their roles in the business segment,” Sunarso said last week.

Source: https://en.tempo.co/read/news/2017/04/19/056867350/BRI-Strives-to-Maintain-Strong-Presence-in-ASEAN