BRI's commission-based income grew 11.45 percent in the first quarter of 2023

Contributors that also support BRI’s performance are Fee-Based Income which is able to grow 11.45 percent on an annual basis or Rp. 5.08 trillion in three months

Jakarta (Armfalcon.com) – PT Bank Rakyat Indonesia (Persero) Tbk or Bank BRI recorded commission-based revenue growth or Fee Based Income (FBI) by 11.45 percent in the first quarter of 2023, namely to IDR 5.08 trillion from the previous IDR 4.56 trillion in the same period last year.

“Contributors who also support BRI’s performance are Fee Based Income which was able to grow by 11.45 percent on an annual basis or valued at Rp. 5.08 trillion for three months,” said BRI Main Director Sunarso in a press conference which was monitored virtually in Jakarta, Thursday.

According to Sunarso, the main contributors to BRI’s commission-based revenue growth are the increasing number of BRILink agents and the increase in BRImo digital application transactions.

As of March 2023, the number of BRILink agents has exceeded 650 thousand agents with a transaction value of IDR 325.65 trillion.

On the other hand, BRImo’s transaction value has reached IDR 884 trillion with a total of 26.3 million users. BRImo’s transaction value in the first quarter of 2023 grew by 99.07 percent on an annual basis. In the first quarter of 2022, BRI recorded a BRImo transaction value of IDR 471 trillion with 16.1 million users.

BRI is optimistic that the use of digital transactions seems to be increasingly in demand by customers, especially in the micro and ultramicro segments. BRI projects this trend will continue throughout 2023.

Therefore, continued Sunarso, BRI encourages increased penetration of financial services or financial inclusion by Hybrid Bank Business Model.

In the micro and retail segments, BRI encourages the optimization of financial transactions through digital platforms such as BRImo and BRI API. Meanwhile in segment wholesaleBRI developed an integrated digital payment platform called Qlola.

The Qlola platform provides comprehensive access to services wholesale banking BRI, such as Cash Management, Trade Finance, Supply Chain Management, Foreign Exchange, Investment Services, and Financial Dashboard services.

Through these various strategies, BRI was able to generate growth in low-cost funds or Current Account Saving Account (CASA) with a ratio of 64.53 percent from the same period the previous year of 63.63 percent. The collection of these low-cost funds had an impact on the growth of BRI’s Third Party Funds (DPK) of IDR 1,255.45 trillion until the end of March 2023. This figure rose 11.45 percent from the achievement in March 2022 which amounted to IDR 1,126.50 trillion.

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source: www.antaranews.com

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