BRI's Net Profit Drops 0.37% in Q1

    Antara - 14 Mei 2020 16:39 WIB
    BRI's Net Profit Drops 0.37% in Q1
    Illustration ( Rizal)
    Jakarta: State-owned lender Bank Rakyat Indonesia (BRI) witnessed its first-quarter profit plunge slightly by 0.37 percent to Rp8.17 trillion, from Rp8.2 trillion a year earlier.

    In spite of the covid-19 pandemic, the bank managed to record a stable performance until the end of the first quarter of 2020, BRI President Director Sunarso noted during an online press conference in Jakarta on Thursday, May 14, 2020.

    To face the pandemic, the bank has focused on maintaining the health of its productive assets, he stated, adding that the bank's assets had reached Rp1,358.98 trillion until the end of the first quarter of 2020.

    In the meantime, BRI Finance Director Haru Koesmahargyo stated that the declining revenues of its subsidiaries' investment was one of the factors causing a drop in the bank's profit.

    Despite the pandemic, the bank witnessed a growth in credits in the first quarter of 2020, surpassing the industrial average, he noted.

    BRI has channeled Rp930.73 trillion in credits in the first three months of 2020, increasing 10.05 percent as compared to Rp845.72 trillion during the corresponding period last year.

    The figure was higher than the industrial credit growth of 7.95 percent in March 2020, he stated. (antara)


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