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Erick Thohir Code, BRI Corporate Action, & Financial Giants

Jakarta, CNBC Indonesia – The state-owned bank with the largest assets in Indonesia, PT Bank Rakyat Indonesia Tbk (BBRI) is preparing a corporate action related to the development of the MSME business, especially in the ultra-micro sector.

BRI Finance Director Haru Koesmahargyo said that currently the corporate action was being prepared by auditing the company’s financial statements which ended in September 2020.

“So we usually do this September financial report audit, but it is true in the context of corporate action. Later, it’s time for us to share it, this is not yet public,” said Haru in a press conference for the presentation of Q3 2020 performance, Wednesday (11/11/2020 ).


“Asked where he was going, back again as the president director said [Sunarso] this is for the development of UMKM, “he added.

As is known, BRI is a business giant in MSMEs. The portion of the MSME loan portfolio reached 80.65% of the total credit in September 2020 which reached Rp. 935.35 trillion.

Led by the current managing director, Sunarso, BRI’s future development plans will focus on financing the ultra micro segment. In this direction, BRI is targeting the portion of MSME financing to increase to 85%.

The unbankable segment has not been worked on by BRI so far. This segment consists of a share, including productive poor who are believed to have a very large market share, but only very few banks are playing.

In other state-owned companies, this segment has been worked on in advance by non-bank financing companies, such as state-owned PT Pegadaian (Persero) and PT Permodalan Nasional Madani (Persero) / PNM.

BRI Micro Business Director Supari, said that BRI must find new sources of growth. To that end, BRI has begun to enter the ultra micro segment in the last 2 months.

“In 2 months we have given ultra-micro Rp. 5.5T with customers of more than 700 thousand customers,” he explained.

In fact, this plan was conveyed long ago by Minister of BUMN Erick Thohir during the CNBC Indonesia Economic Outlook in February 2020.

Erick, who was the speaker at the event, said the Ministry of BUMN would synergize BRI with Pegadaian and PNM.

“We’ve had a meeting with BRI, we want to make sure that there will be a tremendous synergy with Pegadaian and PMN this June. So clearly, there is no more overlapping policies there, and the target market is clear, if this happens, BRI will become an extraordinary bank. “Hurry up and buy the shares,” he explained.

President Joko Widodo also said the same thing. He said he would form a holding in the MSME sector, a sector that is the core business of BRI credit financing. This plan was presented in the National Coordination Meeting of the regional financial access acceleration team (TPAKD) and the development of the Micro Waqf Bank (BWM) in December 2019.

“I have seen, [Di daerah] business groups have been formed that will become clusters. I have conveyed it to the Coordinating Minister for the Economy [Airlangga Hartarto] so that this cluster is again protected by a kayak in the holding, “he said.

According to him, when MSMEs are united in one BUMN Holding, a small business corporation will be formed and small businesses can be more easily reached by the market place.

If the collaboration of BRI, PNM, and Pegadaian, the three can become financial giants, not only in terms of assets, but also the widest network, to the most complete products ever in Indonesia.

[Gambas:Video CNBC]

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