SOE Bank Profits Soar, Erick Thohir: Results of Business Transformation and Digitization Page all

JAKARTA, KOMPAS.com – Minister of State-Owned Enterprises (BUMN) Erick Thohir assessing that the positive performance of state-owned banks or the state bank association (Himbara) during the first semester of 2022 was the result of the business transformation and digitalization that had been carried out.

PT Bank Rakyat Indonesia (Persero) Tbk or BRI recorded a net profit of Rp 24.88 trillion, growing 98.38 percent on an annual basis (yoy). The net profit of PT Bank Mandiri (Persero) Tbk was recorded at Rp 20.2 trillion, up 61.7 percent (yoy).

Likewise, PT Bank Negara Indonesia (Persero) Tbk or BNI with a net profit of Rp 8.8 trillion, up 75 percent (yoy). Meanwhile, PT Bank Tabungan Negara (Persero) Tbk or BTN in the first five months recorded a net profit of Rp 1.06 trillion, up 49.19 percent (yoy).

Also read: Grows 98.38 Percent, BRI Net Profit Rp 24.88 Trillion in Semester I 2022

“Alhamdulillah, thanks to transformation and digitalization, banksSOE banks can work more effectively and efficiently with the results that can be seen at this time,” he said in a written statement, Saturday (30/7/2022).

Erick said that the soaring net profit of state-owned banks was proof of the transformation carried out by the directors and commissioners who contributed greatly to improving performance.

According to him, the transformation, both from business processes to digitalization, makes SOE banking work more efficiently. This can be seen from the decrease in operating costs, maintained fund expenses, and credit quality that continues to improve.

Furthermore, he assessed, Himbara’s performance achievement was also driven by a commitment to refocusing the business by having a different segmentation.

He placed BRI as a people’s bank that focuses on financing for MSMEs and rural communities. Meanwhile, Bank Mandiri is working on the corporate and MSME sectors in urban areas.

Then Erick placed BTN at its core business in the housing sector, while BNI became an international bank with segmentation for the diaspora, migrant workers, and the export sector.

In addition, he also asked Bank Syariah Indonesia (BSI) to be the home for the development of the Indonesian halal industry ecosystem.

“So there are no more stories between state-owned banks fighting over customers, this is no longer the time, this is a time for collaboration, no longer going alone,” said Erick, who is also the General Chair of the Islamic Economic Community (MES).

Also read: Soaring 75.1 Percent, BNI Profit Reaches IDR 8.8 Trillion in Semester I 2022

He considered that performance growth would not only have a positive impact on state-owned banks, but also for the nation and society. Due to increased profits, the contribution of state-owned banks to the state, whether in the form of taxes, dividends, or profit sharing, will also increase.

On the other hand, Himbara is also the government’s main focus in boosting financing for MSMEs. Until now, Himbara’s KUR contribution to the national KUR has reached Rp 260 trillion of the total KUR of Rp 282 trillion.

However, the proportion of MSME financing in Indonesia is still at 20 percent, still lagging behind neighboring countries, such as Malaysia and Thailand, which has reached 50 percent. Therefore, he assigned Himbara to focus on assisting the government in increasing access to financing for the MSME sector.

“If in the 2021 financial year, the state receives a dividend of Rp 24.56 trillion from state-owned banks, we are optimistic that the dividend for 2022 will be much higher. With this income, the government will be even more massive in channeling it to popular programs to help accelerate the recovery of the national economy,” said Erick.

Also read: Bank Mandiri Books a 61.7 Percent Increase in Net Profit in the First Half of 2022

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