BRI's SME Credit Continues to Grow, Reaching Rp989.6 Trillion

BRI's SME Credit Continues to Grow, Reaching Rp989.6 Trillion

Jakarta, Tangerangtalk - Amid economic recovery and global economic volatility, PT Bank Rakyat Indonesia (Persero) Tbk or BRI has recorded growth in SME sector credits. In the first quarter of 2023, BRI disbursed credits to the SME segment amounting to Rp989.6 trillion, accounting for 83.86% of BRI's total SME credit portfolio. This figure represents an increase compared to the same period last year, which amounted to Rp903.3 trillion.

BRI's total credits as of the first quarter of 2023 reached Rp1,180.1 trillion, up from Rp1,075.9 trillion in the same period last year. The growth in BRI's credit is supported by the micro segment, which experienced a growth rate of 11.18% year on year (yoy). The growth in the SME segment is accompanied by a consolidated profit growth (BRI Group) of 27.37% yoy, amounting to Rp15.56 trillion. BRI Group's assets also grew by 10.46% yoy to Rp1,822.97 trillion.

In response to this, Puteri Komarudin, a member of the Indonesian House of Representatives (DPR RI) Commission XI, stated that SMEs are the main engine for the national economy. Therefore, access to financing for SMEs should be widely opened to create new business opportunities and job opportunities. Puteri emphasized the crucial role of banks in empowering SMEs.

"Currently, only BRI is known to focus on developing SME credit and has successfully disbursed financing on a large scale. As a bank for the small people, we hope that BRI will consistently provide capital support for SME players," she said recently.

Puteri also urged BRI to accelerate the growth of SME businesses so that they can move up the ladder. This can be achieved if BRI consistently provides assistance to customers in product development and digitization.

Puteri sees the role of the banking sector, such as BRI, as vital for economic progress, particularly in terms of capital for SMEs. "Equally important, the banking sector also empowers SMEs through capacity building and expanding market reach," she added.

SMEs Driving BRI's Performance

Meanwhile, Amam Sukriyanto, Director of Small and Medium Business at BRI, stated that BRI's positive performance is closely related to the growth of SME credit disbursement. In providing SME credits, the company focuses on empowerment that directly assists and enhances the capabilities of business players.

Therefore, BRI continues to increase the proportion of SME credits. The SME segment's credit portfolio at BRI has reached 83.86% of the total credit portfolio, equivalent to Rp989.64 trillion. The target is to reach 85% by 2024. "We are optimistic that BRI's performance will be even better in 2023, with credit projected to grow at a level of 10%-12%. This growth is mainly driven by the SME segment," said Amam.(Sayuti/Press Release)

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