Operating expenses swell, BRI’s net profit drops 16%
JAKARTA. The increasing operating expenses of PT Bank Rakyat Indonesia (Persero) Tbk by 28.94% has suppressed its consolidated net profit growth in Q1 2021 to IDR 6.86 trillion, sliding 16% year-on-year (yoy) from IDR 8.17 trillion.
The financial report reveals that the net interest income and net premium income reached IDR 23.65 trillion, climbing 9.87% yoy from IDR 21,53 trillion. Unfortunately, other operating expenses escalate by 28.94%, from IDR 11.38 trillion to IDR 14.68 trillion. It drags the consolidated net profit down to IDR 6.86 trillion from IDR 8.17 trillion in Q1 2020.
Until May 31, 2021, the total consolidated assets are reported at IDR 1,411.05 trillion, decreasing 6.66% from IDR 1,511.80 trillion on December 31, 2020. The total distributed credit reaches IDR 914.20 trillion on March 31, 2020, increasing 1.64% from IDR 899.47 trillion last year.
Overall, the third-party funds, comprising current accounts, savings account, and terms savings, fell 6.40% to IDR 1,094.31 trillion. The gross NPL ratio is at a 3.12% level on March 31, 2021, climbing up from 2.81% in Q1 2020. Meanwhile, the net NPL ratio is at 0.86% on March 31, 2021, also increasing from 0.63% in Q1 2020. (AM/ZH)