JAKARTA, KOMPAS.com – PT BRI Multifinance Indonesia or BRI Finance recorded a net profit of IDR 101.89 billion throughout 2023.
This net profit collection increased by IDR 18.05 billion or 21.53 percent on an annual basis or year on year (yoy) compared to the same period the previous year.
BRI Finance Operations Director and Secretary Willy Halim Sugiardi said, this financial performance was the result of strategy, focus on customer service, and team expertise in managing risk as well as synergy and support from the parent company, PT Bank Rakyat Indonesia (Persero) Tbk and BRI Group.
Also read: Ways and Conditions for Applying for Used Car Financing at BRI Finance
Illustration of motor vehicle credit, motorbike credit.“BRI Finance’s profit growth throughout 2023 was driven by an increase in revenue which reached IDR 1.24 trillion, an increase of 38.98 percent from the previous year,” he said in an official statement, quoted Wednesday (20/3/2024).
He added that this increase in income was driven by growth in the financing portfolio which reached 19.40 percent from IDR 6.49 trillion in 2022 to IDR 7.75 trillion in 2023.
On the other hand, BRI Finance’s financing growth increased by 19 percent annually (yoy), exceeding the national financing industry average growth of 13.20 percent.
“BRI Finance’s main focus on increasing financing, especially in the consumer segment, has made a significant contribution to total revenue,” he added.
Also read: BRI Finance Appoints Wahyudi Darmawan as Main Director
Apart from growth in profits and revenues, BRI Finance also recorded growth in assets. The company’s assets were recorded to have increased by 27.72 percent from IDR 7.33 trillion on December 31 2022 to IDR 9.06 trillion on December 31 2023.
Even though there was an increase in total liabilities to IDR 7.74 trillion as of 31 December 2023, from IDR 6.10 trillion on 31 December 2022, total equity also experienced positive growth to IDR 1.32 trillion by the end of 2023.
Willy explained, BRI Finance will improve services to customers and expand its reach in providing financing solutions according to the needs of BRI Finance customers.
“We see the consumer segment as the main driver of our growth, and we will continue to focus on this strategy to achieve sustainable growth,” concluded Willy.
Listen breaking news And selected news we’re right on your phone. Choose your favorite news channel to access Kompas.com WhatsApp Channel: https://www.whatsapp.com/channel/0029VaFPbedBPzjZrk13HO3D. Make sure you have installed the WhatsApp application.