BRI Posts $3.7 Billion Net Income in 2024, Driven by Robust Loan Growth
JAKARTA, Investortrust.id – PT Bank Rakyat Indonesia (Persero) Tbk, the world’s largest microfinance lender, reported a consolidated net profit of approximately $3.88 billion in 2024, marking a slight increase from the previous year.
This performance underscores the bank’s resilience amid global economic challenges and its continued commitment to financing micro, small, and medium enterprises (MSMEs), which remain the backbone of Indonesia’s economy.
PT Bank Rakyat Indonesia (Persero) Tbk (BRI) recorded a consolidated net profit of Rp 60.64 trillion ($3.88 billion) in 2024, posting a slight increase of 0.33% year-on-year from Rp 60.4 trillion in 2023, and cementing its position as Indonesia’s most profitable bank. The profit attributable to shareholders stood at Rp 60.15 trillion.
On a standalone basis, BRI’s bank-only profit reached Rp 54.84 trillion, marking a 3.18% increase from Rp 53.15 trillion in the previous year. This performance highlights the bank’s resilience amid global and domestic economic challenges, including tightening liquidity in the banking sector.
“The secret is out—BRI’s profit in 2024 reached Rp 60.64 trillion,” said BRI President Director Sunarso during a virtual earnings presentation on Wednesday, Feb. 12, 2025.
Sunarso credited BRI’s continued focus on micro, small, and medium enterprises (MSMEs) as a key driver of its financial stability, reinforcing both economic empowerment and sustainable banking practices.
Strong Asset Growth and MSME-Centric Lending
As of December 2024, BRI’s total assets reached Rp 1,992.98 trillion, reflecting a 1.42% year-on-year growth. The bank maintained a selective and high-quality lending approach, focusing on its core MSME segment.
Total loan disbursement stood at Rp 1,354.64 trillion, up 6.97% from the previous year. The MSME sector accounted for 81.97% of BRI’s total loan portfolio, amounting to Rp 1,110.37 trillion.
"BRI’s lending remains dominated by MSMEs, reinforcing our commitment to financial inclusion," Sunarso said.
The bank also improved its asset quality, with its Non-Performing Loan (NPL) ratio decreasing from 2.95% in December 2023 to 2.78% in December 2024. BRI’s NPL coverage ratio reached 215.01%, ensuring sufficient reserves to cover potential credit risks.
“We have provisioned twice the amount of potential bad loans, meaning we have enough buffer to cover our obligations,” Sunarso added.
Strong CASA Growth and Digital Banking Expansion
BRI’s third-party funds (Dana Pihak Ketiga/DPK) grew to Rp 1,365.45 trillion, with low-cost funds (Current Account Savings Accounts/CASA) making up 67.3% of total deposits, equivalent to Rp 918.98 trillion.
“Our ability to continuously increase CASA is a direct result of our strategy to focus on high-quality, transaction-based CASA,” Sunarso explained.
The bank’s digital transformation played a crucial role in this growth. Super App BRImo, BRI’s flagship digital banking platform, recorded a 22.12% increase in users, reaching 38.61 million by the end of 2024. The platform processed transactions worth Rp 5,596 trillion, up 34.57% year-on-year.
BRI’s robust liquidity and strong capital base further supported its financial performance. The bank maintained a Loan-to-Deposit Ratio (LDR) of 88.85% and a Capital Adequacy Ratio (CAR) of 26.63%.
Driving Financial Inclusion and Economic Empowerment
Beyond its financial performance, BRI reaffirmed its role as an agent of development, supporting government initiatives to promote inclusive economic growth and poverty alleviation.
The bank's Ultra Micro Holding, a joint effort with Pegadaian and Permodalan Nasional Madani (PNM), expanded its services through 1,032 Ultra Micro Service Centers (Senyum) across Indonesia, serving over 180 million deposit customers and 36.9 million loan customers with total loan disbursements reaching Rp 628.67 trillion.
BRI also led the Kredit Usaha Rakyat (KUR) program, disbursing Rp 184.98 trillion in 2024—the highest among Indonesian banks—benefiting over 4 million MSMEs nationwide.
Other key initiatives included:
1. Agen BRILink: BRI’s network of 1.06 million banking agents facilitated financial services in over 67,000 villages, with transaction volumes reaching Rp 1,583 trillion.
2. Desa BRILian: BRI supported 4,327 villages in developing sustainable economic ecosystems.
3. PARI (Pasar Rakyat Indonesia): A digital marketplace for MSMEs, now used by 85,000 entrepreneurs.
4. Klasterku Hidupku: MSME cluster development program, now covering 38,574 business clusters.
5. LinkUMKM: A digital platform for MSME business monitoring and growth, with 8.9 million users.
6. Rumah BUMN: A hub for 433,000 MSMEs, strengthening the digital economy ecosystem.
A Commitment to Resilience and Inclusive Growth
Sunarso concluded by reaffirming BRI’s commitment to sustaining strong performance while continuing its role as a key driver of Indonesia’s MSME sector.
"Despite market challenges, BRI remains focused on maintaining stability and resilience. We are committed to supporting Indonesia’s economic growth through inclusive and sustainable financing initiatives," he said.
According to BRI’s financial report, the bank’s earnings per share rose to Rp 399, up from Rp 398 the previous year. BRI’s total consolidated revenue increased 4.1% to Rp 145.3 trillion, supported by interest income of Rp 199.26 trillion, a 9.96% increase from 2023.