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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
From Local to Global
PT Bank Negara Indonesia (Persero) Tbk
2023 Annual Report
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 1
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Disclaimer and
Limitation of Liability
This 2023 Annual Report of PT Bank Negara Indonesia (Persero) Tbk (“BNI”)
is prepared by referring to the standard parameters and criteria applicable in
Indonesia, the domicile where BNI carries out its business activities. The Annual
Report uses the standards provided in the Financial Services Authority (“FSA”)
Regulation No. 29/POJK.04/2016 concerning the Annual Report of Issuers or Public
Companies, OJK Circular Letter No. 16/SEOJK.04/2021 concerning the Form and
Content of Issuers or Public Companies’ Annual Report, and OJK Circular Letter
No. 9/SEOJK.03/2020 concerning Transparency and Publication of Conventional
Commercial Bank’s Reports. As a State-Owned Enterprise (SOE), BNI strives to
comply with related provisions, especially Ministry of SOEs Regulation No. PER-2/
MBU/03/2023 concerning Guidelines for Governance and Significant Corporate
Activities of SOEs, which is also related to the preparation of Annual Reports
by SOEs. In addition, BNI also prepared a separate Sustainability Report that
explains the banking business practices sustainability strategies and initiatives
being developed, in accordance with OJK Regulation No. 51/POJK.03/2017
concerning the Implementation of Sustainable Finance for Financial Services
Institutions, Issuers and Public Companies.
This Annual Report contains statements of financial conditions, operations results,
projections, plans, strategies, policies, and objectives of BNI. The prospective
statements in this Annual Report are prepared based on various assumptions
about the latest condition, the future condition, and the business environment
where BNI performs its business activities. These statements are subject to
prospective risks, uncertainties, and could cause actual results that differ materially
from the reported results.
This Annual Report contains the words “BNI”, the “Limited Liability Company”,
or “Company” that are defined as PT Bank Negara Indonesia (Persero) Tbk.
Sometimes the word “we” is also used to make it easy to designate BNI in
general. This Report is presented in two languages, Indonesian and English, and
can be viewed and downloaded on the official website of BNI: www. bni.co.id.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 3
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Cover
Theme
From Local
to Global
BNI’s CorporateTransformation has clear direction and objectives.The gradual
and continuous implementation of transformation, which will navigate the
journey along a predetermined route, has increasingly delivered results. In the
midst of economic challenges, as well as increasingly dynamic domestic and
global conditions, BNI CorporateTransformation continues to be implemented
and produces positive results.
The shareholders’ aspiration for BNI to become a global bank is one of the
goals of this transformation. Despite the competitive competition, BNI is
aiming to improve its business processes so that it can be present and provide
services at an international level. With such a broad target market, of course
BNI is required to answer existing challenges. Through this transformation,
BNI strives to provide financial services that are agile, adaptive, accountable
and competitive with excellence.
4 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Theme
Continuity
2022 2021 2020 2019
BNI for Stronger Jumping Higher Uniting Energy to Digitalization For
Indonesia for the Country Revive the Country Excellent Services
The COVID-19 pandemic has To deal with the COVID-19 In a situation where Indonesia BNI relentlessly transforms as
left various interesting stories, pandemic which is not over yet still struggled to deal with the well as develop, and strengthen
one of which is the growing requires an endless fighting pandemic, BNI as one of the our capabilities as a digital bank.
awareness of the importance of spirit. The Indonesian Badminton drivers of the national economy The digitalization of distribution
sustainability. The holding of the National Team’s success in was determined to unite the channels and business processes
G20 international events in Bali, bringing home the Thomas energy to stem the spread of the have enabled BNI to consistently
Indonesia, in 2021-2022 have Cup after 19 years certainly pandemic while simultaneously grow its business each year on
emphasized the importance of has inspired many parties. The reviving the country from the the strength of expanded market
Indonesia’s position in the theme theme of BNI’s 2021 Annual pandemic’s negative impacts. access as well as higher operating
of sustainability at the global Report is “Jumping Higher efficiency. The ongoing initiatives
level, both Indonesia’s role in for the Country” and uses at digital technology capability
the post-COVID-19 recovery and visuals of badminton players. enhancement will bring BNI
the Indonesian Government’s The purpose is to portray BNI’s ever closer to become a highly
strong desire to achieve net zero spirit and performance as we competitive digital bank in the
emission in 2060. continue to focus on jumping industry 4.0 era.
and transforming our digital and
The theme of the 2022 BNI global capabilities to achieve
Annual Report is also related to a superior performance and
all the great intention. “Recover become the pride for the country.
Together, Recover Stronger” This theme follows BNI’s 75th
is the theme of the G20 Anniversary theme “Jump
Presidency, in which Indonesia Higher.” In addition, BNI should
invites the whole world to be proud of being appointed by
work hand in hand, support the SOEs Ministry as the SOE
each other to recover together Participating in the Coaching of
and grow stronger and more Badminton Sports.
sustainable. In line with the
theme of the G20 Presidency,
BNI and all stakeholders
involved in its business chain
strive to create a more resilient
Indonesia. The manifestation
is expressed both in terms of
the Bank’s performance, the
issue of Green Bonds, as well
as various important efforts
with stakeholders to create an
established and sustainable
banking industry.
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BNI Competitive
Advantage
“As the first bank owned by the
Indonesian Government, BNI
continues to transform together
with the Indonesian people,
providing superior financial,
digital and international
service solutions in
a sustainable manner.”
Excellent Reputation and Experience in Corporate and
Institutional Banking
BNI’s DNA is as corporate banking with international network excellence,
and this is embedded through extensive experience and a global
reputation as a national bank that actively supports Indonesian
businesses in many economic cycles. Loans to the corporate
segment are still the segment with the largest lending share
in BNI with an average share of 49,8% over the last 3
(three) years. By December 2023, BNI’s corporate loans
composition reached 52,8% and became a catalyst for
other lending segments growth. In the corporate
segment, BNI focuses on expanding to superior
debtors who are key industry players and
optimizing cooperative relationships with
institutions.
6 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
National Bank with Global Capacity
BNI has the widest network of offices overseas, located in world business and financial centers, including
Singapore, Hong Kong, Tokyo, New York, London, Seoul, and Amsterdam. Supported by strategic alliances
and a network of overseas correspondent banks, BNI has a global reputation as a national bank that
actively bridges business and investment from Indonesia to overseas companies and vice versa. In line
with the Indonesian Government’s mandate for BNI to become an Indonesian bank with global capacity,
BNI continues to optimize its competitive advantage to facilitate businesses, including corporations and
Small and Medium Enterprises (SME) exporters, to enter the global market, as well as serve transaction
and service needs, and Indonesian diaspora finance services.
Widespread Domestic Office Network to Reach All Levels of Society
By the end of 2023, BNI operated 2.122 outlets, 13.390 ATMs, and 185.697 Branchless Banking agents
(BNI Agen46) throughout Indonesia. When managing the office network, BNI pays attention to effective and
efficient deployment, as well as the transfer of customer banking transactions to digital channels, especially
BNI Mobile Banking, which offers an easy, fast, safe and comfortable transaction experience. In 2023,
BNI also began to transition to develop flagship, digital first and thematic outlet formats offering a faster,
unique and more complete banking experience for customers. To support financial inclusion, BNI Agen46
can be found in 35,500 sub-districts/villages throughout Indonesia, including areas categorized as Frontier,
Remote and Disadvantaged (3T). In 2023, BNI Agen46 recorded a transaction volume of IDR59,92 trillion
with total transactions reaching IDR85,49 million.
Comprehensive and Competitive The Bank with the Leading
Digital Ecosystem Sustainable Financial Practices in
By following its one stop solution digital Indonesia
financial services strategy, BNI’s digital
As one of the pioneers of Green Banking in
financial services are available to answer the
Indonesia, BNI is committed to internalizing
needs for end to end consumer & retail and
the sustainable finance principles in its values,
business banking segment customers. BNI’s
work culture, strategy, operational policies,
digital services product champions include
and operational systems and procedures. The
BNI Mobile Banking, BNIDirect and API. BNI
application of sustainable finance principles is
Mobile Banking is now used by more than
carried out by increasing sustainable portfolios
16 million individual customers, with the
and financing in environmentally friendly
advantage of complete transaction features
sectors, as well as instigating proactive efforts
and ease of use anytime and anywhere. For
to reduce emissions resulting from operations
business customers, the total number of
and business. BNI has also been proactive
BNIDirect users at the end of 2023 had reached
by introducing Sustainability Linked Loans
more than 147 thousand users. As a pioneer in
(SLL), where one of the main aspects of SLL
strengthening the digital payment ecosystem
is providing incentives for customers capable
in Indonesia, BNI uses API (Application
of improving the Environmental, Social &
Programming Interface) service to facilitate
Governance (ESG) aspects in their business. By
partners in providing disbursement, collection,
the end of 2023, the SLL portfolio had reached
payment, account information and digital
IDR4,6 trillion. Other than the SLL scheme, BNI
account opening services. In 2023, BNI was in
has also prepared a special financing scheme
the process of transforming Hibank (formerly
with attractive pricing for green financing.
Bank Mayora) to become the first digital bank
BNI currently has an “A” rating from Morgan
in Indonesia focused on the SME segment.
Stanley Capital Investment (MSCI) for ESG
implementation, one of the highest ratings
among large banks in Indonesia.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 7
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Milestones
2012
BNI issued Global Bonds through its London branch office
worth USD500 million. BNI’s Global Bonds were registered at
1946 the Singapore Stock Exchange.
The establishment of PT Bank Negara
Indonesia (Persero) Tbk as the first
state-owned bank, functioning as a 2010
central bank and a commercial bank.
BNI issued new shares through a Rights Issue so that public
ownership increased to 40%.
1950
2009
BNI as a development bank was given the right to
act as a foreign exchange bank. BNI shareholders agreed to spin-off BNI Syariah
business units as an independent business entity.
1955
BNI converted to a commercial bank 2008
and BNI opens its first overseas Under a new Management team, BNI stepped up in the
branch in Singapore. midst of the global economic crisis, reinforcing
its financial foundation through five key strategies:
adequacy of reserves, improving the quality of assets,
focusing on profitability, creating sustainable business
1960 models and maintaining efficient cost structures.
BNI supported the Indonesian economy and
introduced various banking services such as
Floating Banks and Mobile Banks. 2007
BNI issued new shares listed on the Jakarta and
1968 Surabaya Stock Exchanges at the same time as the
government share divestment program. With the
As a commercial bank with the name “Bank completion of both programs, public ownership
Negara Indonesia 1946”, BNI was given the increased to 23.64%.
task of improving the economy of the people
of Indonesia and participated in the national
economic development by empowering various 2004
industrial sectors in Indonesia.
BNI launched its new
1986 corporate logo and
identity related to efforts
BNI conducted operational restructuring and to build a firm image of
corporate reforms, including developing the Company in the face
its vision and mission and Performance of competition.
Improvement Program (PIP).
1989 1999
BNI launched its new BNI obtained additional capital from the Government
logo “the ark of sailing through the bank recapitalization program. BNI
in the middle of the succeeded in obtaining ISO 9002 certificate in
ocean” as a reflection recognition of quality standards including the Joint
and expression of the Processing Unit (UPB).
Company’s expectation
1997
1996
The monetary crisis hit Asia and Indonesia. Like other
BNI conducted an initial public offering and listed its banks, BNI was also affected by the crisis, as reflected in
shares on the Jakarta and Surabaya Stock Exchanges. the decline in financial performance indicators.
This made BNI the first government bank to become a
public company.
8 From Local to Global
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2013
BNI joined a strategic partnership with Sumitomo Life
Insurance Company that purchased new shares issued by PT
BNI Life Insurance worth IDR4.2 trillion. 2023
2014
BNI’s Net Income for the first time broke the double-digit October 6 2023, BNI carried out corporate
figure (IDR10.8 trillion), as one result of BNI’s transformation action in the form of a stock split with a
programs implemented since 2008.
ratio of 1:2 effective on the Indonesian Stock
2015 Exchange. This corporate action was carried
To adapt to the changing dynamic business out in order to increase demand for BNI shares
environment, to meet the needs of all
by expanding the investor base. The market
stakeholders’ interests, and to align with
regulations related to management for responded positively to this corporate action,
financial conglomerate institutions, BNI
restated its vision: “Becoming a Superior
as evidenced by the strengthening of BNI’s
Financial Institution in Service and share price so that BNI’s market capitalization
Performance”.
value at the end of 2023 reached IDR200.5
trillion, an increase of 16.5% compared to the
2016 end of 2022 of IDR172.0 trillion. This market
For the second time BNI achieved a double-digit profit of capitalization value is the highest in BNI’s
IDR11.4 trillion with better fundamentals, indicated by a history since it was listed on the Indonesian
coverage ratio of 146% and CAR of 19.4%.
Stock Exchange.
2017
BNI Sustainable Bonds I Phase I Year 2017 were issued with a
value of IDR3 trillion for a period of 5 years with a coupon of 2022
8% per annum. BNI Bonds were published on July 11, 2017
and listed on BEI on July 12, 2017. • BNI acquired PT Bank Mayora. Bank Mayora will be
transformed into a digital bank that supports the development
2018 of BNI’s digital solutions focusing on the MSME (Micro, Small
and Medium Enterprises) segment.
BNI Subordinate I Medium Term Notes • Establishment of PT BNI Modal Ventura, referred to as “BNI
(MTN) Year 2018 were issued with a Ventures”, as BNI’s strategy to support the development of the
value of IDR100 billion for a period of 5 digital ecosystem in Indonesia.
years with a fixed interest rate of 8% per • Additional capital participation in PT Bank Syariah Indonesia
annum. The MTN were registered at FSA, Tbk, where BNI’s share ownership in BSI was diluted to
effective June 8, 2018. 23.24%.
• Issuance of PT Bank Negara Indonesia (Persero) Tbk Green
Bond I Year 2022 with a principal amount of IDR5 trillion. This
2019 bond is the first Green Bond product in Indonesia issued in
Rupiah.
In 2019, BNI became the first Government Bank to launch
Digital Account Opening through its mobile banking
application. Negotiable Certificates of Deposit (NCD) with a 2021
value of IDR2.39 trillion were issued on September 25, 2019.
• BNI issued Tier 2 Subordinated Notes (BNI Tier 2 Capital Bond
2020 2021) on the Indonesia Stock Exchange for USD500 million
with an interest rate of 3.75%, as well as Additional Tier 1
• BNI restated its vision “To become a Financial Institution (“AT-1”) Perpetual Non-Cumulative Capital Securities on the
that excels in sustainable service and performance” and Singapore Stock Exchange for USD600 million with a yield of
restated its mission “Strengthening excellent service and 4.3% p. a. The AT-1 Capital Securities issue was monumental
digital solutions to all customers, as the primary partner as BNI became the first bank in Indonesia to issue Additional
of choice” and “Strengthening international services Tier 1 capital instruments.
to support the needs of global business partners.” The • BNI also strengthened its vision, from the previous “To
purpose was to strengthen BNI’s excellence in international become a Financial Institution with Sustainable Service
business through overseas and domestic networks, and Performance Excellence,” to “To become a Superior
partnership cooperation and digital banking development Financial Institution with Sustainable Service and Performance
in response to challenges and competition. Excellence”.The word “Unggul” has been prefixed with “Ter”,
• To support the formation of a national Islamic bank with showing BNI’s commitment to become the most superior.
global capacity, BNI together with Bank BRI and Bank • BNI divestment in PT Bank BNI Syariah, which was merged
Mandiri signed a merger agreement between BNI Syariah with PT Bank Mandiri Syariah and PT Bank BRI Syariah Tbk to
with Mandiri Syariah, and BRI Syariah. become PT Bank Syariah Indonesia Tbk (“BSI”) Holding.
• BNI Securities Pte. Ltd. (“BSPL”), a subsidiary of PT BNI
Sekuritas, has officially operated in Singapore.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 9
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BNI Corporate
Transformation
“Sustainable banking business development certainly
requires clear direction. Using a transformation strategy
including digitalization, developing business models,
strengthening capital, organization and work culture, as
well as strengthening business groups, BNI seeks to
create banking services that are agile, adaptive spread
across international networks, which will ultimately
increase BNI’s valuation and provide added value for
investors and shareholders.”
BNI CORPORATE TRANSFORMATION
has been underway from April 2021 until now,
involving all Divisions/Units/other Functional Units.
Organizational Increased Efficiency and BNI Mobile Banking
Sharpening the Top Tier Human Capital
Structuring Cost Effectiveness and New BNI Cash
Customer management Strengthening
through the application for improvement and Management
model through Human Capital
of the New Way of optimization of the Digitalization
Corporate segment Blueprint design and
Working to produce bottom line to increase added value
to Retail Productive improvement of Talent
leaner, more agile and experience for
segment to increase Management to build
and customer centric customers
customer cross selling future competitiveness
organizational and
Capital
business processes
Strengthening
through the issuance of Operational
Additional Tier 1 USD 600 improvements
Performance
End to End Credit million and Subordinated banking through
Management System
Branch Transformation Process Improvement Bond (Tier 2) USD 500 centralization,
improvements
through implementing through standardization, million standardization and
Segment, Product,
new outlet formats process strengthening, process automation to
& Channel based for
and refining digitalized and digitalization by produce faster, leaner
a transparent and
business processes to developing credit Business groups and more accurate
business-oriented
improve the customer tools for more prudent Strengthening processes
performance assessment
experience business processes through the acquisition
system
of Bank Mayora (hibank),
the formation of BNI
Ventures, additional International networks
Improved BSI participation of Expansion
SME business Collaboration IDR500 billion, and through the Launching
optimization through IT and Business to resegmentation of BNI of BNI Amsterdam
BNI Xpora to support support business- Finance (Representative Office)
MSMEs Go Global oriented digital
transformation
10 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
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NWOW
BNI
“New Way of Working The New Way of Working (NWOW) initiative is one
of the strategic initiatives carried out in BNI Corporate
(NWOW) is one of the internal Transformation as an effort to align the organization to
clarify accountability and reduce overlapping functions.
strategies implemented With the implementation of NWOW, it is hoped that work
processes within the BNI organization will become more
in 2023 to prepare the BNI effective and efficient through the implementation of new
ways of working in order to achieve corporate strategic
organization for the future targets.
through new ways of working The implementation of NWOW aims to improve and
strengthen future-ready capabilities, by encouraging agile,
to achieve the Company’s proactive working methods, a culture of collaboration and
high execution capabilities to face all challenges in this era
strategic targets.” full of change.
In this way, every BNI Hi-Movers can work adaptively
and collaboratively to jointly drive sustainable business
achievements.
Aligning organization, Encouraging agile,
A more effective and
clarifying proactive work
efficient organization
accountability and methods, a culture of
through implementing
reducing overlapping collaboration and high
new ways of working.
functions. execution capabilities.
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2023
Achievements
“The corporate transformation success was a
fundamental factor for BNI to continue to improve
its services and provide the best for customers,
investors, shareholders and all stakeholders.”
IDR695.1 IDR810.7
Total loans disbursed by Total customer savings
BNI in 2023 grew 7.6% in 2023 grew 5.4%
compared to IDR646.2 compared to IDR769.3
Trillion trillion the previous year. Trillion trillion the previous year.
IDR61.5 IDR62.7
Total interest income in Total operating income
2023 increased 12.5% in 2023 increased 2.1%
compared to IDR54.7 compared to IDR61.5 trillion
Trillion trillion the previous year. Trillion the previous year.
IDR20.9
Net Profit in 2023
increased 14.2%
compared to IDR18.3
Trillion trillion the previous year.
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
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85.8 22.0
The Loan to Total Deposit Ratio The Minimum Capital
(LDR) in 2023 increased by Requirement Ratio (KPMM)
1.6% compared to the previous in 2023 increased by 2.7%
% year of 84.2%. % compared to the previous
year of 19.3%.
68.4 2.1
The ratio of operating costs The Non-Performing Loan
to operating income (BOPO) (NPL) ratio (Gross) in
in 2023 decreased by 0.2% 2023 decreased by 0.7%
% compared to the previous % compared to the previous
year of 68.6%. year of 2.8%.
2.6 16.8
Return on Assets (ROA) Return on Equity (ROE) in
in 2023 increased by 0.1% 2023 will increase by 0.4%
compared to the previous compared to the previous
% year of 2.5%. % year of 16.4%.
BNI Individual Risk Profile
self-assessment results as AAA Corporate Rating
2
rating given by
of December 31 2023, with /Stable PEFINDO.
Rank a low to moderate Inherent
(low to moderate) Risk rating and a Satisfactory
Risk Management
Implementation Quality BBB Corporate Rating
rated by S&P
(KPMR) rating. /Stable
BBB- Corporate Rating
rated by Fitch
/Stable
Baa2 Corporate Rating
rated by Moody’s
/Stable
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Table of
Contents
Management Discussion
04
3 Disclaimer and Limitation of Liability
4 Cover Theme
5 Theme Continuity and Analysis on Company
6 BNI Competitive Advantage Performance
8 Milestones
10 BNI Corporate Transformation 198 Economy and Industry Overview
11 NWOW BNI 204 BNI Strategic Policy for 2023
12 2023 Achievements 206 Operational Overview per Business Segment
14 List of Contents 207 Operating Segment
260 Geographical Segment
01
264 Digital Banking
280 Comprehensive Financial Overview
2023 Performance 321
322
Ability to Pay Debt
Company Receivables Collectibility Level/Loan Collectibility Level
325 Credit Risk Management
18 Important Financial Data Overview
331 Capital Structure and Management Policy for Capital Structure and
24 Business Performance Overview Capital Risk Management Practices
27 Shares Overview 334 Business Target Achievements in 2023
30 Bonds, Sukuk and/or Convertible Bonds Overview 336 Business Continuity Information
30 Other Funding Sources 338 Details of Matters Arising in 2023
34 Event Highlights 2023 339 Business Prospects for 2024
02
340 Performance Projections for 2024
341 Marketing Aspect
Management Report 344
347
Dividend and Distribution Policy
Taxation and Non-Tax State Revenue (PNBP) : BNI's Contribution to
National Development
45 Board of Commissioners’ Report 349 Information regarding the Realization of Use of Public Offering Proceeds
55 Board of Directors’ Report 355 Negotiable Certificate `Of Deposit (NCD
68 Board of Directors’ Responsibility Statement for the 2023 Annual Report of 356 Material Information Regarding Corporate Action, Investments,
PT Bank Negara indonesia (Persero) Tbk Expansions, Divestments, Business Mergers, Acquisitions, and/or
Restructuring
69 Board of Commissioners’ Responsibility Statement for the 2023 Annual
Report of PT Bank Negara Indonesia (Persero) Tbk 359 Information on Material Transactions that Contain Conflicts of Interest
and/or Transactions with Affiliated/Related Parties
03
365 Changes to Legal Regulations that significantly impacted BNI
Company Profile
374 Changes in Accounting Policies and Their Impact on BNI
72
75
76
78
General Company Information
Company Identity
Brief History of the Company
Vision, Mission, and Corporate Culture
05
378
Business
Support Functions
Human Capital
82 Lines of Business
395 Information Technology
86 Company Operational Areas Organizational Structure Company
400 Information Technology Governance
88 Association Membership List
406 Service Digitization
90 Board of Directors’ Profiles
411 Services and Networks
92 Board of Commissioners’ Profiles
414 BNI Customer Experience Center
106 Senior Executive President Profiles
417 Data Management and Analytics
121 Executive Officers Profiles
419 Service Quality Function
126 Employee Demographics
145 Shareholder Structure and Composition
152 Information on the Company’s Majority and Controlling Shareholder
158 List of Subsidiaries and/or Associated Entities
160 Corporate Group Structure
170 Share Listing Chronology
172 Other Securities Listing Chronology
174 Information on Public Accountants, Public Accounting Firms, and
Networks/Associations/Alliances
186 Capital Market Supporting Institutions and/or Professionals
186 Information Available on The Website
188 Awards and Certification
191 Penghargaan dan Sertifikasi
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06
988 Transparency Of Customer Complaints Procedures And Customer
Dispute Settlement
Capital & Risk 991 Bad Corporate Governance Practices
Management Practices 992
1002
Integrated Governance Implementation
Corporate Governance Aspects And Principles Implementation In
Accordance With Financial Services Authority Regulations
430 Capital
1010 Implementation Of Indonesian Corporate Governance General Guidelines
432 Risk Management Practices
(PUGKI)
466 Risk Exposure Disclosure
1019 Implementation Of The Asean Corporate Governance Scorecard
07
1065 Implementation Of Corporate Governance Principles For Banks According
To Basel Committee On Banking Supervision Standards
Good Corporate Governance
590
591
595
596
Best Achievements in Corporate Governance Implementation
Commitment to Sustainable Corporate Governance Implementation
Governance Framework
Improving The Quality of GCG Implementation Sustainably
08
1072
Social & Environmental
Responsibility
Social and Environmental Responsibility Commitment and Policies
612 Corporate Governance Structure And Mechanism 1087 Special Assignment
615 General Meeting of Shareholders
09
637 Board Of Directors
680 Board Of Commissioners
724 Independent Commissioners
727 Board of Directors and Board of Commissioners Nomination and ESG Commitment
Remuneration
750 Organs Under The Board Of Commissioners 1094 BNI 2023 Environment, Social, and Governance (ESG) Performance
Highlights
816 Supporting Organs of The Board Of Directors
1095 BNI 2023 ESG Development Expectation Setting Meeting (ESM)
864 External Auditor
1097 ESG Implementation Commitment
868 Internal Control System
1099 BNI ESG Risk Management
873 Risk Management System
1102 Persons Responsible for ESG Implementation at BNI
898 Legal Cases
1103 BNI's ESG Implementation Supervision and Evaluation
903 Administrative Sanctions
1104 Implementation of Sustainable Finance In Subsidiary Companies
903 Company Code Of Ethics
1105 ESG Index: BNI Sustainability Practice Summary
904 Long Term Compensation Policy
906 Access To Company Information and Data
10
909 Akses Informasi dan Data Perusahaan
950 Implementation Of Anti-Money Laundering (Aml) Programs, Prevention
Of Terrorism Financing (Ptf) And Prevention Of Funding For The
Proliferation Of Weapons Of Mass Destruction
Financial Report
953 Protection Of Creditors’ Rights
953 Anti-Gratification & Anti-Bribery Policy 1113 Financial Report
956 Disclosure Of Information On Board Of Commissioners and Board Of 1414 Attachment of Republic of Indonesia Financial Services Authority Circular
Directors Share Ownership and Its Application Letter No. 9/SEOJK.03/2020 Concerning Transparency and Publication of
962 Board Of Commissioners And Board Of Directors Share Ownership In Conventional Commercial Bank Reports
Banks Or Other Companies 1418 Cross-Reference No. 16/SEOJK.04/2021: Format and Completing the
963 Violation Reporting System (Whistleblowing System) Annual Report of Issuers or Public Companies
966 Anti Corruption Policy
967 Internal Deviations
968 Provision Of Funds For Related Parties And Large Exposure
969 Providing Loans To Related Parties
971 Provision Of Funds For Social And Political Activities
972 Procurement of Goods And/Or Services
977 Bank’s Strategic Plan
979 Reporting Transparency
984 Conflict Of Interest Policy (Including Insider Trading)
985 Shares And Bonds Buyback
986 Management Of State Officials’ Assets Reports (LHKPN)
987 Transparency Of Financial and Non-Financial Conditions
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 15
Page 16
Page 17
18 Important Financial Data Overview
24 Business Performance Overview
27 Shares Overview
Bonds, Sukuk and/or Convertible Bonds
30
Overview
30 Other Funding Sources
34 Event Highlights 2023
Page 18
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Important Financial
Data Overview
Consolidated Statement of Financial Position
YoY
In billion Rupiah, unless
2023 2022 2022-2023 2021*) 2020**) 2020 2019
otherwise stated
(%)
Assets
Cash 11.207 13.448 (16,7) 13.684 16.908 17.324 15.362
Current Accounts with Bank
65.256 82.922 (21,3) 48.682 33.550 35.066 37.104
Indonesia
Current Accounts with Other
35.023 15.922 120,0 19.570 15.678 16.108 14.963
banks - Net
Placements with Other Banks -
43.794 51.569 (15,1) 92.290 56.141 61.329 47.777
Net
Marketable Securities - Net 37.165 28.556 30,1 25.803 22.632 29.687 27.162
Securities Purchased under
13.951 16.631 (16,1) 22.011 8.666 8.666 411
Agreements to Resell - Net
Bills and Other Receivables - Net 18.999 20.729 (8,3) 19.563 17.894 17.894 19.208
Acceptance Receivables - Net 17.091 18.912 (9,6) 20.543 20.499 20.576 18.558
Derivative Receivables- Net 996 685 45,4 494 1.461 1.461 312
Loans Disbursed 695.085 646.188 7,6 582.436 553.106 586.207 556.771
Allowance for Impairment Losses
(47.158) (50.334) 6,3 (50.295) (42.932) (44.228) (16.909)
of Loans Disbursed
Government Bonds 127.099 121.291 4,8 111.429 84.150 90.659 81.029
Prepaid Taxes 643 644 (0,1) 1.051 1.050 1.050 1.050
Prepaid Expenses 2.743 3.244 (15,4) 3.096 2.699 2.807 2.609
Investments in Associates 11.284 10.049 12,3 8.689 - - -
Equity Investments - Net 564 609 (7,4) 830 4.177 813 523
Other Assets 16.972 13.856 22,5 11.849 13.383 13.758 11.801
Fixed Assets - Net 27.765 26.549 4,6 26.883 26.257 27.362 26.525
Intangible Assets 744 753 (1,2) - - - -
Deferred Tax Assets - Net 7.441 7.614 (2,3) 6.230 4.591 4.800 1.349
Total Assets 1.086.664 1.029.837 5,5 964.838 839.910 891.337 845.605
Liabilities
Obligations Due Immediately 5.295 4.686 13,0 4.554 5.508 5.561 5.273
Deposits from Customers 810.730 769.269 5,4 729.169 631.551 647.572 582.541
Deposits from Other Banks 11.894 15.245 (22,0) 14.377 9.245 9.023 11.584
Derivative Payables 810 775 4,6 110 414 414 203
Securities Sold Under Agreements
6.891 2.885 138,9 1.829 2.590 2.590 2.183
To Repurchase
Acceptance Payables 5.748 5.301 8,4 5.588 5.423 5.500 5.341
Accrued Expenses 1.664 1.441 15,5 1.242 1.125 1.182 997
Taxes Payable 823 1.551 (46,9) 1.284 1.060 1.148 568
Employee Benefits 7.006 6.880 1,8 6.138 5.652 6.344 4.392
Provisions 2.173 2.712 (19,9) 2.276 1.421 1.422 185
Other Liabilities 26.125 21.130 23,6 20.542 18.038 18.280 14.901
Securities Issued 4.893 4.897 (0,1) 2.986 2.985 2.985 2.985
Borrowings 30.950 35.654 (13,2) 32.458 44.114 44.114 57.236
Subordinated Securities 16.929 17.213 (1,6) 15.765 100 100 100
Total Liabilities 931.931 889.639 4,8 838.318 729.226 746.236 688.489
18 From Local to Global
Page 19
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
YoY
In billion Rupiah, unless
2023 2022 2022-2023 2021*) 2020**) 2020 2019
otherwise stated
(%)
Temporary Syirkah funds
Deposits from Customers - - - - - - 31.881 31.770
Deposits from Other Banks - - - - - - 349 341
Mudharabah Sukuk Issued - - - - - - - -
Total Temporary Syirkah Funds - - - - - - 32.230 32.112
Equity
Share Capital 9.055 9.055 - - 9.055 9.055 9.055 9.055
Additional Paid-in Capital/ Agio
17.270 17.010 1,5 17.010 14.568 14.568 14.568
Saham
Share-Based Payment Reserves 260 - 100,0 - - - -
Transactions with Non-
2.257 2.257 - - 2.257 2.257 2.257 2.257
Controlling Interests
Asset Revaluation Reserve 15.448 15.441 0,0 15.442 14.882 14.963 14.947
Unrealized (Losses)/ (Gains)
on Marketable Securities and
Government Bonds Measured
(896) (1.971) 54,5 1.949 2.424 2.424 (822)
at Fair Value through Other
Comprehensive Income, Net of
Tax
Exchange Difference on
Translation of Foreign Currency (58) (36) (61,1) (17) 23 23 48
Financial Statements
Retained Earnings 107.236 94.060 14,0 78.250 64.878 66.981 82.463
Treasury Shares (180) - (100,0) (207) (79) (79) -
Non-Controlling Interests 4.602 4.382 5,0 2.781 2.676 2.680 2.488
Total Equity 154.733 140.198 10,4 126.520 110.684 112.872 125.004
Total Liabilities, Temporary
1.086.664 1.029.837 5,5 964.838 839.910 891.337 845.605
Syirkah funds and Equity
*) On February 1, 2021, BNI Syariah officially joined Bank Syariah Indonesia in accordance with the Capital Market approval through OJK S-289/D.04/2020 dated December 11,
2020, and OJK Banking Letter No. 4/DK.03/2021 dated January 27, 2021, therefore it is no longer into the consolidated financial statements of BNI and its Subsidiaries as of the
Fiscal Year 2021.
**) Financial performance for 2020, taking into account the impact of releasing BNI Syariah’s performance.
Consolidated Statement of Profit (Loss) and Other Comprehensive Income
YoY
In billion Rupiah, unless
2023 2022 2022-2023 2021*) 2020**) 2020 2019
otherwise stated
(%)
Interest Income and Sharia Income 61.472 54.659 12,5 50.026 52.144 56.173 58.532
Interest Expense and Sharia
(20.196) (13.338) 51,4 (11.779) (18.103) (19.021) (21.930)
Expense
Interest Income and Sharia Income
41.276 41.321 (0,1) 38.247 34.041 37.152 36.602
- Net
Premium Income and Investments
6.853 6.221 10,1 5.887 5.330 5.330 6.158
Return
Claims Expenses (5.194) (4.670) (11,2) (4.488) (3.859) (3.859) (4.461)
Premium Income - Net 1.659 1.551 7,0 1.399 1.471 1.471 1.697
Other Operating Income 19.812 18.600 6,5 16.219 13.640 13.413 13.713
Total Operational Income 62.747 61.472 2,1 55.865 49.152 52.036 52.012
Other Operating Expenses (27.778) (27.059) (2,7) (24.801) (22.088) (24.214) (23.687)
Allowance for Impairment Losses (9.196) (11.514) 20,1 (18.297) (22.038) (22.590) (8.838)
Operating Income 25.773 22.899 12,6 12.767 5.026 5.231 19.487
Non-Operating (Expenses) Income
(133) (212) (37,3) (216) (95) (119) (118)
– Net)
Income Before Tax Expenses 25.640 22.687 13,0 12.551 4.931 5.112 19.369
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 19
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
YoY
In billion Rupiah, unless
2023 2022 2022-2023 2021*) 2020**) 2020 2019
otherwise stated
(%)
Tax Expense (4.534) (4.205) (7,8) (1.574) (1.610) (1.791) (3.861)
Income for the Year 21.106 18.482 14,2 10.977 3.321 3.321 15.509
Other Comprehensive Income
• Other Comprehensive (Loss)/
Income for the Current Period 673 (3.826) 117,6 745 872 872 2.875
After Tax
Comprehensive Income for the
21.780 14.656 48,6 11.722 4.193 4.193 18.384
Current Period
Comprehensive Income for the Year Attributable to:
• Equity holders of the parent
20.909 18.312 14,2 10.898 3.280 3.280 15.384
entity
• Non-controlling interests 197 170 15,7 79 41 41 124
Total Comprehensive Income for the Year
Total Comprehensive Income For
The Year Attributable To:
• Equity holders of the parent
21.560 14.594 47,7 11.620 4.001 4.001 18.192
entity
• Non-controlling interests 220 62 254,1 102 192 192 191
Earnings Per Share Attributable to
Equity Holders of the Parent Entity 561 983 (42,9) 585 176 176 825
(in full Rupiah amount)
*) On February 1, 2021, BNI Syariah officially joined PT Bank Syariah Indonesia Tbk in accordance with the Capital Market approval through OJK letter No. S-289/D.04/2020
dated December 11, 2020, and OJK Banking Letter No. 4/DK.03/2021 dated January 27, 2021, therefore it is no longer consolidated into the consolidated financial statements of
BNI and its Subsidiaries as of the Fiscal Year 2021.
**) Financial performance for 2020, taking into account the impact of releasing BNI Syariah’s performance.
Statement of Consolidated Cash Flows
YoY
In billion Rupiah, unless otherwise stated 2023 2022 2022-2023 2021 2020 2019
(%)
Cash Flows from Operating Activities 10.393 19.953 (47,9) 97.479 74.254 (12.611)
Cash Flows from Investing Activities (10.771) (32.233) (66,6) (15.656) (11.992) 13.484
Cash Flows from Financing Activities (8.493) 2.725 (411,6) 1.719 (17.139) (18.491)
(Decrease)/Increase in Net Cash and Cash Equivalents (8.871) (9.555) 7,2 83.542 45.123 (17.618)
Impact of Loss of Control - - - (37.614) - -
Impact of Foreign Currency Exchange Rate Changes (150) 115 (230,4) 505 600 (119)
Cash and Cash Equivalents at Beginning of the Year 163.900 173.340 (5,4) 126.908 81.185 98.922
Cash and Cash Equivalents at the End of Year 154.879 163.900 (5,5) 173.340 126.908 81.185
Financial Ratios (Bank Only)
Difference
In percentage (%), unless otherwise stated 2023 2022 2021 2020 2019
2022-2023
Capital
Common Equity Tier 1 (CET1) Ratio 18,8 16,1 2,7 16,4 15,7 18,7
Tier 1 Ratio 20,3 17,5 2,8 17,7 15,7 18,7
Tier 2 Ratio 1,7 1,8 (0,1) 2,0 1,1 1,1
Minimum Capital Adequacy Ratio 22,0 19,3 2,7 19,7 16,8 19,7
Fixed Assets Against Capital 18,9 19,8 (0,9) 21,1 25,1 22,0
Asset Quality
Distressed Earning Assets and Distressed Non-
Earning Assets to Total Earning Assets and Non- 1,6 2,0 (0,4) 2,8 3,1 1,8
Earning Assets
Distressed Earning Assets to Total Earning Assets 1,5 1,9 (0,4) 2,6 2,9 1,6
Gross NPL 2,1 2,8 (0,7) 3,7 4,3 2,3
Net NPL 0,6 0,5 0,1 0,7 0,9 1,2
20 From Local to Global
Page 21
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Difference
In percentage (%), unless otherwise stated 2023 2022 2021 2020 2019
2022-2023
Loan at Risk (LaR) 12,9 16,0 (3,1) 23,3 28,7 9,4
Allowance for Impairment Losses (CKPN) of
5,2 6,0 (0,8) 6,5 6,2 2,2
Financial Assets to Earning Assets
CKPN Fulfillment for Earning Assets 4,7 5,4 (0,7) 5,9 2,9 2,2
CKPN Fulfillment for Non-Earning Assets 47,7 43,4 4,3 29,4 13,9 14,8
NPL Coverage Ratio 319,0 278,3 (40,7) 233,4 182,4 133,5
LaR Coverage Ratio 52,7 48,8 3,9 37,0 27,0 32,3
Loans to Total Earning Assets 64,0 64,3 (0,3) 63,2 66,9 65,5
Core Debtor Loans to Total Loans 35,9 28,6 7,3 31,2 30,3 29,0
Foreclosed Collateral to Total Loans 0.2 0,2 - - 0,3 0,3 0,0
Profitability
Return on Assets (ROA) 2,6 2,5 0,1 1,4 0,5 2,4
Return on Equity (ROE) - Tier 1 Capital Based 16,8 16,4 0,4 10,4 2,9 14,0
Return on Equity (ROE) - Equity Based 15,2 14,9 0,3 9,4 2,6 13,4
Net Interest Margin (NIM) 4,6 4,8 (0,2) 4,7 4,5 4,9
Other Operating Income to Operating Income 32,4 31,3 1,1 29,9 28,3 29,3
Profit (Loss) to Total Assets 2,0 1,9 0,1 1,1 0,3 2,0
Profit (Loss) to Total Equity 14,2 14,1 0,1 8,9 2,7 12,5
Total Liabilities to Total Assets 86,1 86,8 (0,7) 87,3 87,4 85,0
Total Liabilities to Total Equity 618,6 657,0 (38,4) 687,9 689,6 567,5
Fee Based Income to Total Other Operating Income 74,2 79,8 (5,6) 84,0 88,4 82,8
Earnings per Share (EPS) (In Rupiah full amount) 561 983 (422) 585 176 825
Liquidity
Loan to Deposit Ratio (LDR) 85,8 84,2 1,6 79,7 87,3 91,5
Liquid Assets to Total Assets Ratio 19,9 21,5 (1,6) 24,8 20,2 18,6
Total Liquid Assets to Short-Term Funding Ratio 25,6 27,6 (2,0) 31,35 25,8 18,4
Macroprudential Intermediation (RIM) Ratio 89,0 83,4 5,6 74,1 75,4 86,6
Current Account/Saving Account (CASA) Ratio 71,6 72,9 (1,3) 69,4 68,4 66,8
Cost of Fund (CoF) Ratio 2,2 1,5 0,7 1,6 2,6 3,2
Compliance
LLL Percentage
• Related Party Nil Nil Nil - Nil Nil Nil
• Unrelated Party Nil Nil Nil - Nil Nil Nil
LLL Excess Percentage
• Related Party Nil Nil Nil - Nil Nil Nil
• Unrelated Party Nil Nil Nil - Nil Nil Nil
Minimum Mandatory Reserve (GWM)
• Primary Rupiah GWM 9,5 11,9 (2,4) 7,7 5,4 6,7
• Foreign Currency GWM 4,0 4,0 - - 4,0 4,0 8,0
Net Open Position (NOP) 1,7 1,6 1 0,9 3,2 2,4
Efficiency
BOPO (Operating Cost/Operating Income) 68,4 68,6 (0,2) 81,2 93,3 73,2
CIR (Cost to Income Ratio) 42,9 42,6 0,3 43,3 44,2 43,9
Other Ratios
Operating Income/Employee (IDR-million) 2.182 2.195 (13) 1.985 1.738 1.732
Number of Outlets (full amount, unaudited) 2.122 2.149 (27) 2.183 2.219 2.245
Number of ATM (full amount, unaudited) 13.390 16.125 (2.735) 16.385 18.230 18.659
Number of Employees (full amount, unaudited) 27.570 27.170 400 27.177 27.202 27.211
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 21
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Total Assets Loans Disbursed - Net
(IDR-billion) (IDR-billion)
1.029.837 1.086.664 695.085
646.188
964.838
586.207
556.771 582.436
891.337 553.106
845.605 839.910
2019 2020 2020* 2021 2022 2023 2019 2020 2020* 2021 2022 2023
Total Liabilities
(IDR-billion) Customer Savings
(IDR-billion)
931.932
889.639 810.730
14,9 769.269
729.169
746.236 647.572 631.551
729.226
688.489 582.541
2019 2020 2020* 2021 2022 2023
2019 2020 2020* 2021 2022 2023
Total Equity Current Account Saving Account (CASA)
(IDR-billion) (%)
154.733
72,9
140.198
71,6
125.004 126.520
112.872 110.684
69,4
68,4
66,8
2019 2020 2020* 2021 2022 2023 2019 2020 2021 2022 2023
22 From Local to Global
Page 23
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Operational Income Net Income
(IDR-billion) (IDR-billion) 20.909
61.472 62.747 18.321
55.865
52.012 52.036 15.384
49.152
10.898
3.280 3.280
2019 2020 2020* 2021 2022 2023 2019 2020 2020* 2021 2022 2023
Return on Equity (ROE) - Bank Only
(Using the average total equity as the denominator)
15,2
14,9
13,4
9,4
2,6
2019 2020 2021 2022 2023
*) Financial performance for 2020, taking into account the impact of releasing BNI Syariah’s performance.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 23
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Business
Performance Overview
Loans Disbursed in the Business Banking Segment
YoY
In billion Rupiah, unless otherwise
2023 2022 2022-2023 2021 2020 2019
stated
(%)
Corporate 310.392 255.639 21,4 229.028 226.473 246.629
Medium 109.625 112.462 (2,5) 99.132 99.463 72.691
Small 84.927 97.210 (12,6) 95.752 84.800 75.461
Overseas 56.611 67.405 (16,0) 58.446 50.972 41.750
Total 561.555 532.716 5,4 482.358 461.708 436.531
56,5%
55,3%
48,0% 47,5% 48,0%
20,6% 21,1% 19,5%
17,3% 21,1% 19,9%
18,0% 18,2%
16,7% 15,1%
12,9% 12,0% 12,7% 10,1%
9,5%
2019 2020 2021 2022 2023
Corporation Medium Small Overseas
Loans Disbursed in the Consumer Segment
YoY
In billion Rupiah, unless otherwise
2023 2022 2022-2023 2021 2020 2019
stated
(%)
Mortgage 58.456 53.502 9,3 49.573 46.038 44.128
Credit Card 13.986 12.341 13.3 11.868 11.647 12.844
Payroll 50.575 43.064 17,4 35.797 30.269 26.522
Others 1.471 695 111,7 1.753 1.923 2.431
Total 124.488 109.602 13,6 98.991 89.877 85.925
51,4% 51,2% 50,1% 48,8% 47,0%
12,0% 11,3%
40,6%
13,0% 39,3%
14,9% 36,2%
33,7%
30,9%
11,2%
2,8% 2,1% 1,8%
1,2%
0,6%
2019 2020 2021 2022 2023
KPR Credit Card Payroll Others
24 From Local to Global
Page 25
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Loans Disbursed in the Corporate Segments Including Overseas Based on Sector
YoY
In billion Rupiah, unless otherwise
2023 2022 2022-2023 2021 2020 2020 2019
stated
(%)
Industry 103.636 94.346 9,8 85.360 72.911 81.257 76.404
Agriculture 32.378 30.334 6,7 34.241 40.954 45.280 42.844
Business Services 35.402 30.892 14,6 26.056 29.236 34.714 37.101
Electricity, Gas and Water 25.038 19.871 26,0 18.454 19.799 21.377 29.100
Transportation, Warehousing and
39.399 36.248 8,7 31.787 27.514 30.740 18.807
Communication
Construction 45.764 44.112 3,7 43.470 37.707 39.394 28.172
Trade, Restaurant and Hotel 31.104 20.313 53,1 23.094 22.355 28.647 31.763
Mining 36.141 31.912 13,3 12.524 12.788 12.925 9.718
Social Services 15.816 13.274 19,2 10.127 11.230 12.429 9.892
Others 2.325 1.742 33,5 2.361 2.952 2.952 4.627
Total 367.003 323.044 13,6 287.474 277.446 309.715 288.430
*) Product performance in 2020 after re-segmentation from Corporate to Medium Commercial
29,7% 29,2% 28,2%
26,5% 26,2% 26,3%
14,9%
14,6%
14,8%
15,1%
13,7%
12,5%
12,9%
12,2%
13,6%
11,9%
12,7%
10,5%
9,6%
9,6%
11,0%
11,1%
10,7%
11,2%
10,1%
9,9%
9,9%
9,1%
9,4%
9,2%
9,8%
9,9%
9,8%
8,8%
8,1%
8,0%
6,9%
6,3%
8,5%
6,4%
6,2%
6,8%
7,1%
6,5%
4,3%
4,6%
4,4%
3,4%
3,4%
1,6%
4,2%
4,0%
4,0%
3,5%
4,1%
1,0%
1,1%
0,8%
0,6%
0,5%
2019 2020 2020* 2021 2022 2023
Industry Agriculture Business World Services Electricity, Gas and Water Transportation, Warehousing, and Communication
Construction Trade, Restaurants and Hotels Mining Social Services Others
Loans Disbursed in the Small Business Banking Segment
YoY
In billion Rupiah, unless otherwise stated 2023 2022 2022-2023 2021 2020 2019
(%)
Branch Credit Management (BCM) 34.089 37.870 10,0 44.230 44.262 43.142
People’s Business Loans (KUR) 44.101 52.708 16,3 44.008 32.602 24.482
Loans for Financial Institutions (KKLK) 191 128 49.2 50 78 880
BNI Entrepreneurs (BWU) 6.546 6.504 0,6 7.464 7.858 6.957
Total 84.927 97.210 12,6 95.752 84.800 75.461
57,2%
54,2%
52,2% 52,0%
46,2%
46,0%
40,1%
39,0%
38,4%
32,4%
9,2% 9,3% 7,7%
7,8%
6,7%
0,2%
1,2% 0,1% 0,1% 0,1%
2019 2020 2021 2022 2023
BCM KUR KKLK BWU
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 25
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Third Party funds Performance - Excluding Temporary Syirkah funds
YoY
In billion Rupiah, unless
2023 2022 2022-2023 2021 2020* 2020 2019
otherwise stated
(%)
Current Accounts 345.496 314.625 9,8 281.398 221.050 224.663 202.227
Savings 231.981 242.695 (4,4) 224.670 211.278 223.686 191.390
Deposits 232.665 208.798 11,4 223.101 199.223 199.223 188.924
NCD Issued 588 3.151 (81,3) - - - -
Total 810.730 769.269 5,4 729.169 631.551 647.572 582.541
*) 2020 performance not including BNI Syariah performance.
42,6%
41,0%
38,6%
34,7% 35,0%
32,9% 33,5% 28,7%
32,4% 31,5% 30,8%
31,5% 28,6%
30,6%
27,1%
0,4%
0,1%
2019 2020 2021 2022 2023
GIRO SAVINGS DEPOSITO NCD
Company Rating 2023
Company Rating Rating
PEFINDO
Corporate Rating AAA/Stable
Moody's
Outlook Stable
Foreign Long Term Bank Deposits Baa2
Local Long Term Bank Deposits Baa2
Baseline Credit Assessment Baa3
Adjusted Baseline Credit Assessment Baa3
Counterparty Risk Assessment Baa2/p-2
Fitch Rating
Long Term Foreign Currency BBB-
Long Term Local Currency BBB-/Stable
Short Term Foreign Currency F3
Viability Rating bb+
National Long Term Rating AA+/Stable
National Short Term Rating F1+
S&P Global Ratings
Outlook Stable
Long Term Foreign Issuer Credit BBB
Long Term Local Issuer Credit BBB
Short Term Foreign Issuer Credit A-2
Short Term Local Issuer Credit A-2
26 From Local to Global
Page 27
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Shares
Overview
BNI has listed and traded its shares on the Indonesian Stock
Exchange (formerly the Jakarta Stock Exchange and the Surabaya Stock
Stock code: BBNI Exchange) since August 6 1996. This makes BNI the first state bank to
become a public company.
Information on BBNI Share movement 2021-2023 on the Indonesia Stock exchange
Share Price Average
Market
Number of Shares (IDR/share) Transaction
Period Capitalization
(shares)* Volume
Opening Highest Lowest Closing (IDR-million)
(shares)
2023
Quarter I 18.648.656.458 9,226 9,626 8,500 9,350 60.516.945 174.364.938
Quarter II 18.648.656.458 9,350 9,576 8,750 9,150 52.403.504 170.635.207
Quarter III 18.648.656.458 9,226 10,326 8,676 10,326 60.185.561 192.547.378
Quarter IV* 37.256.798.316 5.150 5.375 4.790 5.375 51.372.390 200.473.051
2022
Quarter I 18.648.656.458 6.725 8.500 6.725 8.250 35.964.464 153.851.416
Quarter II 18.648.656.458 8.200 9.600 7.850 7.850 42.407.747 146.391.947
Quarter III 18.648.656.458 7.850 9.175 7.225 8.975 28.647.641 167.371.688
Quarter IV 18.648.656.458 8.900 9.900 8.425 9.225 23.791.038 172.033.858
2021
Quarter I 18.648.656.458 6.250 6.525 5.550 5.725 38.471.373 106.763.558
Quarter II 18.648.656.458 5.725 6.000 4.580 4.630 26.230.830 86.138.345
Quarter III 18.648.656.458 4.630 5.450 4.580 5.375 22.733.217 100.236.528
Quarter IV 18.648.656.458 5.375 7.450 5.350 6.750 37.222.193 125.878.428
* On October 6 2023, BNI has effectively implemented a stock split with a split ratio of 1:2 (1 share becomes 2 shares). The Stock Split did not cause a change in the value of
share ownership by investors because the number of BNI outstanding shares increased to 2 times followed by the share price adjusting 0.5 times from the previous price. So,
since the effective date, BNI shares were trading at the new price.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 27
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Comparison of BBNI and IHSG Share Prices Throughout the 2021-2023 Period
10.326
9.900
9.225 9.400 9.426
9.175 9.350
8.975 9.225 9.176
9.150
8.250 8.525
9.150 8.876
8.000 9.050 7.273
7.229 7.850 7.850
7.179 7.081 8.776 7.081
6.953
7.325 6.843 6.916 6.931
7.071 7.149
7.000 6.888 7.099 6.851 6.662
6.800 6.581 6.631 6.912 6.951 6.839 6.805 6.940
6.287 6.752
6.150 6.591 6.750 6.633
6.242 5.996
5.986 6.070 6.534
5.862 5.947
5.985
5.950 5.400 5.375
5.550 5.700
5.725 5.400 5.375 5.275
4.790
4.630 4.780
45.148.500
28.998.950
63.050.725
30.498.723
39.798.978
36.573.086
26.405.291
55.340.771
50.079.570
56.658.060
43.734.795
22.138.795
20.465.182
32.040.133
52.679.418
40.763.521
22.762.827
75.633.476
24.176.283
39.910.526
32.569.410
53.919.245
19.186.559
35.541.948
32.091.377
56.661.468
55.183.014
70.606.010
65.397.296
42.327.059
25.601.190
27.146.486
34.317.414
19.807.452
27.014.881
46713500
Jan- Feb- Mar- Apr- Mei- Jun- Jul- Agt Sep- Okt- Nov- Des- Jan- Feb- Mar- Apr- Mei- Jun- Jul- Agt Sep- Okt- Nov- Des- Jan- Feb- Mar- Apr- Mei- Jun- Jul- Agt Sep- Okt- Nov- Des-
21 21 21 21 21 21 21 21 21 21 21 21 22 22 22 22 22 22 22 22 22 22 22 22 23 23 23 23 23 23 23 23 23 23 23 23
Average Trading Volume of BBNI BBNI Stock Closing Price IHSG
* On October 6, 2023, BNI has effectively implemented a stock split with a split ratio of 1:2 (1 share into 2 shares).shares). Therefore, since the effective date, BNI shares are
traded at the new price.
Corporate actions that cause changes in shares In the period March 16, 2023 to August 1, 2023, BNI carried
out buybacks of 20,257,300 shares or 0.27% of the portion
Share repurchase (Buyback) of BNI shares owned by the public and traded on the stock
At the Annual General Meeting of Shareholders (AGMS) on exchange, with an average buyback price of IDR8,884 per
March 15, 2023, BNI obtained shareholder approval to carry share. All shares resulting from the buyback were then held
out a share buyback (Buyback) with a buyback value of up in the form of treasury shares.
to IDR905 billion carried out through the Indonesia Stock
Exchange (BEI), either in stages or at once and completed Stock Split
no later than 18 months after the AGMS approval, namely Based on the Extraordinary General Meeting of
March 16, 2023 to September 15, 2024.The buyback is being Shareholders (EGMS) resolution on September 19, 2023
carried out with the aim of offsetting selling pressure in as outlined in Deed No. 17 dated September 19, 2023 made
the market when the Composite Stock Price Index (IHSG) before Ashoya Ratam SH., BNI shareholders approved the
was fluctuating and providing an indication to investors Company’s stock split with a ratio of 1 (one) old share to
that the Company views share prices as not reflecting the 2 (two) new shares.
Company’s improving fundamentals. The shares resulting
from the Buyback, as approved by the shareholders at the A Stock Split is the act of splitting the number of Company
AGMS, will be used for the share ownership program for shares in circulation based on a certain ratio resulting in an
Employees and/or the share ownership program for the increase in the number of Company shares. Stock Splits
Company’s Board of Directors and Board of Commissioners. do not cause dilution or decrease in the amount of share
The buyback plan was submitted to OJK via letter No. ownership by shareholders, as the number of Company
DIR/068 dated January 27, 2023 and its implementation shares in circulation increases proportionally, while the
was approved by the OJK via letter No. SR-29/PB.31/2023 nominal value and market value of each share will decrease
on February 9, 2023. In addition, BNI also announced proportionally according to the determined Stock Split
Information Disclosure concerning the buyback plan to ratio. The Stock Split action does not create obligations to
the public on the IDX website and BNI website on February Shareholders and does not affect the Company’s capital.The
6, 2023 and March 10, 2023. reason for carrying out this stock split is to increase demand
for the Company’s shares by expanding the investor base,
and making share prices affordable for individual (retail)
investors so as to increase the number of investors who
can carry out transactions on the Company’s shares.
28 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Stock splits are carried out guided by Financial Services Authority Regulation no. 15/POJK.04/2022 concerning Stock
Splits and Stock Mergers by Public Companies. The implementation of the Company’s stock split has received approval
in principle from the Indonesian Stock Exchange or (“BEI”) through BEI Letter No. S-06132/BEI.PP3/07-2023 dated 26 July
2023, and has been submitted to the public through Information Disclosure regarding the stock split plan on 11 August 2023.
The Stock Split was carried out on all classifications of the Company’s shares, namely Series A Dwiwarna, Series B, and
Series C, with changes in the number and nominal value per share as follows:
Total Shares
Security Before Stock Split After Stock Split
Total Shares Nominal Value Total Shares Nominal Value
Series A Dwiwarna: Series A Dwiwarna:
IDR7,500 IDR3.750
BBNI Shares 18.648.656.458 37.297.312.916
Series B: IDR7,500 Series B: IDR3,750
Series C: IDR375 Series C: IDR187,50
This stock split is effective on October 6 2023, which the BNI share price began trading at a new price of IDR 5,200 per
share after closing at IDR 10,375 per share on the previous trading day (October 5 2023). In the future, the Company will
continue to be committed maintaining the sustainable financial performance so that it can continue to provide optimal
value for all shareholders.
The Stock Split implementation schedule was as follows:
Description Time schedule
Announcement of Stock Split Schedule on the Exchange September 29, 2023
End of Trading with Old Nominal Value in Regular and Negotiated Market October 5, 2023
Initial Trading of shares with a New Nominal Value in the Regular and Negotiated Market October 6, 2023
Last date for settlement of share transactions with the Old Nominal Value in the Regular and Negotiated
October 9, 2023
Markets
Date of Determination of the List of Shareholders and Securities Accounts entitled to shares resulting
October 9, 2023
from the Stock Split (Recording Date)
Distribution of shares resulting from the Stock Split to securities account holders, and the start date for
October 10, 2023
Shareholders whose shares are not included in collective custody to process the Stock Split
Start date for settlement of share transactions with the New Nominal Value October 10, 2023
Beginning of trading of shares with a new nominal value on the Cash Market October 10, 2023
ACTION FOR TEMPORARILY SUSPENSION IN TRADING
SHARES AND/OR DELISTING OF SHARES
Over the last 2 (two) years, in the period 2022 and 2023, BNI shares with the share code “BBNI” did not experienced any
temporary suspension in share trading, and/or delisting of shares.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 29
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Bonds, Sukuk and/or
Convertible Bonds Overview
List of outstanding Bonds for the Year 2023
Bond Name Issue Date Effective Date Tenor Currency Value
Environmentally Friendly Bonds (Green Bond) 2022
Series A June 21, 2022 June 10, 2022 3 Years Rupiah IDR4.000.000.000.000
Series B June 21, 2022 June 10, 2022 5 Years Rupiah IDR1.000.000.000.000
BNI Tier II Capital Bond
March 30, 2021 March 30, 202 5 Years US Dollar USD500.000.000
2021
BNI Additional Tier I Perpetual, Non
September 24, 2021 September 24, 2021 US Dollar USD600.000.000
Capital Bond 2021 Callable 5,5 Years
Other
Funding Sources
Medium Term Notes (MTN) repaid in 2023
Name Of
Issue Date Effective Date Tenor Currency Value
Securities Issued
BNI 2018
Subordination I August 10, 2018 August 10, 2018 5 years Rupiah 100,000,000,000
Medium Term Notes
30 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Listing
Bid Price Maturity Date Interest Rate Rating Trustee Status
Exchange
2023: idAAA
(Pefindo) Bursa Efek PT Bank Mandiri Active/Not Yet
100.00 June 21, 2025 6.35% p.a.
2022: idAAA Indonesia (BEI) (Persero) Tbk Due
(Pefindo)
2023: idAAA
(Pefindo) Bursa Efek PT Bank Mandiri Active/Not Yet
100.00 June 21, 2025 6.85% p.a.
2022: idAAA Indonesia (BEI) (Persero) Tbk Due
(Pefindo)
2023: BB (Fitch);
Ba2 (Moodys) Active/Not Yet
100.00 March 30, 2026 3.75% SGX Listing HSBC Corp Ltd.
2022: BB (Fitch); Due
Ba2 (Moodys)
2023: Ba3
(Moodys) Active/Not Yet
100.00 March 24, 2027 4.3% SGX Listing HSBC Corp Ltd.
2022: Ba3 Due
(Moodys)
Bid Price Maturity Date Interest Rate Rating Listing Exchange Trustee Status
2023: idAAA
PT Bank Rakyat
(Pefindo) Bursa Efek Indonesia
100,00% August 10, 2023 8.00% p.a Indonesia Paid
2022: idAAA (BEI)
(Persero) Tbk
(Pefindo)
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 31
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Negotiable Certificate of Deposit (NCD) repaid in 2023
Value
Effective Maturity Discount
NCD Name Issue Date Tenor (IDR- Status
Date Date Rate
million)
BNI NCD 2022
BNI Rupiah NCD 2022 Series A 6 months 1,000,000 June 6, 2023 5.90% Paid
September
BNI Rupiah NCD 2022 Series B December 8, 9 months 500,000 6.00% Paid
- 5, 2023
2022
December 8,
BNI Rupiah NCD 2022 Series C 12 months 1,000,000 6.20% Paid
2023
Global Certificate of Deposit Issued in 2023
Name Issue Date Effective Date Tenor
Zero coupon (No Interest)
CD BNI January 2023 USD CD - DBS January 18, 2023 January 26, 2023 175 days
CD BNI January 2023 USD CD - Credit Agricole January 27, 2023 February 3, 2023 89 days
CD BNI March 2023 USD CD - MUFG March 8, 2023 March 15, 2023 184 days
CD BNI March 2023 USD CD - DBS March 9, 2023 March 16, 2023 182 days
CD BNI October 2023 USD CD - Credit Agricole October 11, 2023 October 18, 2023 355 days
CD BNI October 2023 USD CD - DBS October 12, 2023 October 18, 2023 355 days
Fixed Coupon (With Interest)
CD BNI January 2023 USD CD - Credit Agricole January 27, 2023 February 3, 2023 89 days
Global Certificate of Deposit yang Dilunasi di Tahun 2023
Name Issue Date Effective Date Tenor
Zero coupon (No Interest)
CD BNI December 2022 USD CD - MUFG December 16, 2022 December 22, 2022 186 days
Fixed Coupon (With Interest)
CD BNI December 2022 USD CD - MUFG December 15, 2022 December 21, 2022 182 days
32 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Value
Maturity Date Discount Rate Status
(USD)
20,000,000 July 20, 2023 5,58% Paid
54,000,000 May 3, 2023 5,40% Paid
50,000,000 September 15, 2023 5,95% Paid
23,500,000 September 14, 2023 5,95% Paid
35,000,000 October 7, 2024 6,05% Not Yet Paid
40,000,000 October 7, 2024 6,07% Not Yet Paid
10,000,000 May 3, 2023 5,21% Paid
Value
Maturity Date Discount Rate Status
(USD)
18,600,000 June 26, 2023 5,45% Paid
50,000,000 June 21, 2023 5,45% Paid
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 33
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Event
Highlights 2023
Small Segment Development of IDR5 BNI support in the Next Gen Event –
billion to IDR10 billion. Strive to Thrive
A meeting was held to discuss the Held at the Park Hyatt Hotel Jakarta,
development process of the SME the Next Gen Event - Strive to Thrive
qualitative development model up to IDR became a gathering space for Next
10 billion. Held in Jakarta, attended by Gen BNI Emerald customers to have
representatives from the Head Office and interactive discussions with experts/
all regions. Part in developing qualitative experts. The event was attended by
scoring to obtain comprehensive Triawan Munaf, Edward Tirtanata, Ernest
parameters and be able to increase the Saudjana, George Hendrata and Paolo
accuracy of credit decisions in the future. Kartadjoemena and collaborated with
CXO Media and Putri Tanjung as Event
Hosts. Also present at this event was BNI
January 5-6, 2023 January 18, 2023 President Director Royke Tumilaar along
with other BNI Directors.
FY2022 Earnings Call Launch of Credit Card Revamping
As part of transparency to shareholders, CoBrand BNI-LOTTEMart BNI together
BNI held an FY 2022 Earning Call activity with LOTTE Mart launched a new
which was attended by Analysts. BNI contactless design and features for the
published FY 2022 Earning Call material Co Brand BNI LOTTE Card (BLC) Credit
on the BNI website and IOX website. Card. Taking place in Gandaria City, the
event was attended by BNI Consumer
Banking Director Corina Leyla Karnalies,
Lotte Mart Indonesia President Director,
Lotte Mart Indonesia Marketing Director
Evi Lionawan.
January 24, 2023 January 26, 2023
Chinese New Year Event Signing of the BNI and PT BNI
In order to increase customer Multifinance Credit Agreement
engagement and show BNI’s In order to optimize the BNI Group
appreciation for BNI Emerald and business, an additional financing
Business Banking customers who agreement from BNI to PT BNI
celebrate Chinese New Year, BNI is Multifinance with a maximum credit
holding a Chinese New Year Celebration of IDR 1,518,000 million. The provision
in 2023, taking place at St. Regis Hotel of this facility is used for business
Jakarta, the event entitled “BNI Customer expansion, branch office expansion, and
Gathering Chinese New Year 2023” was IT/system updates.
attended by more than 400 invited guests
consisting of BNI customers, Minister of
BUMN Mr. Erick Thohir, Deputy Minister
of BUMN Mr. Kartika Wirjoatmodjo, and February 8, 2023
January 27, 2023
the Board of Directors.
BNI support in the 2023 Indonesia Travel Financial Forum with the title “50 Years
Fair of Indonesia-Korea Relations: Developing
Held at Mosaik Walk, Kota Kasablanka Closer Friendship and Stronger
Mall, BNI as Bank Partner and in Partnership through Enhanced Financial
collaboration with RajaMICE and Cooperation”
the ASEAN Toursim Association The Financial Forum was held jointly
(ASEANTA), this event was held in order by the Indonesian Embassy in Seoul,
to encourage domestic tourism travel The Financial Supervisory Service (FSS)
which is the umbrella for the Proud to Korea and BNI. The activity was held
Travel in Indonesia program. This event at the Dragon City Convention Center
was attended by several travel agents, and attended by the Ambassador of the
airlines and supported by the ASEAN Republic of Indonesia to Korea Gandi
Tourism Association (ASEANTA). Sulistiyanto, Acting GM BNI Seoul Ardi
February 17-19, 2023 February 20, 2023 Ferdiansyah, Staff of the Indonesian
Embassy in Seoul, Chairman of the OJK,
Senior Deputy Governor of the FSS and
CEO of financial institutions in Korea.
BNI support in the Cashless Society Cerpen Podcast (Consumer Protection
Digitalization Launching Activity for IKN Stories) with Bank Indonesia (BI) Jakarta
workers Region
Attended by Indonesian President Joko This event was recorded to be broadcast
Widodo along with BUMN Minister Erick on the YouTube and Instagram channels
Tohir, PUPR Minister Basuki Hadimuljono of BI Jakarta Region, BNI and BI Jakarta
and also attended by BNI President Region collaborating as resource
Director Royke Tumilaar and NWS persons with the theme Reporting
Director Ronny Vennir The presence of Crimes to Financial Victims.
BNI Agen46 in the IKN area can provide
convenience for the community around
the IKN complex and especially workers
February 23, 2023 in the IKN complex in serving banking February 23, 2023
transaction needs.
34 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Japan Airlines Travel Fair 2023 Socialization regarding Personal Data
As a form of BNI’s consistency in the Confidentiality to BPK Rl Employees
travel related market, BNI is holding the To increase awareness regarding
Japan Airlines Travel Fair 2023. This event the importance of personal data
is supported by Travel Agents, Non-Travel confidentiality, BNI is present as a
Tenants and the Japan National Tourism resource in socialization activities
Organization (JNTO). regarding personal data confidentiality
for BPKRI employees.
February 24-26, 2023 February 28, 2023
INACRAFT 2023 Youtube Live with the title: OJK and
BNI again supports the holding of an Bank Responsibilities in Consumer
exhibition entitled The 23rd Jakarta Protection to Increase Employee Anti-
International Handicraft Trade Fair Fraud Awareness Understanding
(INACRAFT 2023) as one of the largest In order to increase consumer and public
craft product exhibitions in Southeast protection in the financial services sector,
Asia. This event is a collaboration BNI held a webinar with guest speakers
between BNI and the Association of Ginanjar Endra Prasetiyo (Senior
Indonesian Handicraft Exporters and Supervisor of Consumer Services and
Producers (ASEPHI) which this year was Capital Market Complaint Inspection,
held twice at the Jakarta Convention OJK Consumer Protection Department)
Center (JCC) Senayan. BNI included and Rahmat Pertinda (Head of Customer
dozens of Go Export-assisted MSMEs as Experience Center Division - BNI).
a showcase of the strength of MSMEs
during this year’s economic recovery
March 1-5, 2023 period. March 2, 2023
Launching and Open Call Submission
Indonesian Restaurant Fundraising
Program (INDOSTAR)
The Ministry of Tourism and Creative
Economy, with the Spice Up the world BNI Expo with Rans 2023
program, is collaborating with BNI BNI and RANS collaborated in
to provide financing to Indonesian organizing BNI Expo 2023, namely a
restaurants abroad through the ‘one stop shopping exhibition’ which
INDOSTAR program. The program launch was held at DBL Arena Surabaya. BNI
took place in the Ramayana room – the Expo offered content and activities to
Indonesian Consulate General in Hong amplify products and create interest
Kong and BNI Hong Kong presented among visitors to use BNI products.
invited Indonesian restaurants. One of It took the form of the 8 District BNI
them is Lucky Indonesia Restaurant. This Expo Exhibition, and included Lifestyle,
event was also attended by the Minister Automotive, Food Festival, Local Pride,
of Tourism and Creative Economy Travel Fair, House Supplies, Rans
Sandiaga Uno, the Indonesian Consulate Universe and BNI Zone
March 10, 2023 General for Hong Kong Ricky Suhendar, March 10-12, 2023
all state-owned companies in Hong
Kong as well as Indonesian restaurant
entrepreneurs and the Indonesian BNI supports the 2023 All England
diaspora in Hong Kong. Tournament
Taking place at Arena Birmingham,
England, the All England Badminton
Public Lecture for STIK Lemdiklad Polri Championships is the oldest and most
Students, with the theme Handling prestigious badminton tournament held
Fraud in Banking Activities annually in Birmingham, England, since
BNI was present as a resource person in 1899. As one of the most prestigious
the Public Lecture on Cyber Crime and tournaments, the All England attracts the
Social Engineering in the Digital Banking best badminton players from all over the
Era organized by STIK. The event took world to competed, which Indonesia was
place at the PTIKA Building and was one of the favorite contestants to win
attended by the National Police STIK the tournament, and BNI was present as
Academy Community. one of the main sponsors. This support
can help strengthen BNI’s image as the
main actor in supporting the progress
March 14, 2023 March 14-19, 2023 of Indonesian sports and culture at the
international level.
BNI support for Indonesia Career Day BNI support for the Indonesia Festival
2023 activities 2023 Birmingham activities
BNI was present at the Indonesia BNI supports the implementation of the
Career Day (ICD) held at the Seoul annual event held by the Indonesian
Global Center. The event was attended Student Association (PPI) MIB –
by the Indonesian Ambassador to Birmingham. Activities were carried
Korea out to market Indonesian products to
the people of Great Britain in the city of
Birmingham and its surrounding areas.
Celebrations were also held for the
success of the Indonesian Badminton
team in the All England Championship.
March 18, 2023 March 19, 2023
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 35
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Opening Ceremony of the 2023 BNI BNI Hong Kong Sharing Activities –
Auction Event Program, Ramadhan Edition 2023
As a massive effort to introduce auction Located at the ATM Gallery Causeway
activities to the public as a way to buy Bay and Admiralty, every Sunday during
assets relatively quickly, easily and the fasting month 2023, BNI Hong Kong
transparently, at the best price. The distributes takjil to Indonesian Migrant
event was attended by DJKN, BPN and Workers who make transactions at the
BNI. BNI ATM Gallery both in Causeway Bay
and Admiralty. This activity is an annual
activity that PMIs always look forward
to every time the month of Ramadan
arrives.
March 29, 2023 April 3, 2023
BNI Support in Events BNI in 5th Indonesia Fintech
London Coffee Festival 2023 Summit & Expo (IFSE) 2023
The 2023 London Coffee Festival took BNI participated in National Fintech
place at The Truman Brewery, London, Month 2023 activities through the 5th
and was attended by more than 30,000 Indonesia Fintech Summit & Expo (IFSE)
people. BNI London was present and 2023. The focus of the summit activities
supported the promotion of Indonesian was as a meeting and discussion venue
tenanys at the event. for fintech industry players, regulators,
think tanks, academics and other
stakeholders in increasing financial
inclusion and collaborative efforts in
advancing Indonesia’s digital economy.
April 20-23, 2023 May 15, 2023
BNI support in the #DiIndonesiaAja Travel BNI Excellence Employee (BEE) Award
Fair 2023 activities As a form of management’s highest
Held at the Grand Atrium, Kota appreciation for BNI employees who
Kasablanka, BNI as one of the Bank have consistently demonstrated the best
Partners together with ASTINDO, performance and are worthy of being
InJourney and GIPI held this event to role models for their respective units,
support the Proud to Travel in Indonesia BNI held the BNI Excellence Employee
campaign initiated by the Government. (BEE Award) at the Grand Ballroom
of Hotel Indonesia. The event also
presented the Culture Transformation
program that is expected to be a catalyst
to change BNI’s culture for a better and
more sustainable performance.
May 19-21, 2023 May 26, 2023
BNI Support in SUGA Agust D ‘D-DAY’ BNI’s participation in the “Seoul Food &
TOUR Activities in Jakarta Hotel Expo 2023”
As proof of BNI’s support for the K-Pop BNI supported Xpora customers
community in Indonesia, BNI supports at the Seoul Food & Hotel Expo
holding a concert by one of the well- (SFH). SFH is the leading and largest
known K-Pop artists who is a member of international exhibition in Korea for
the band BTS, namely SUGA or Agust the Food, Beverage, Hotel, Restaurant
D. This solo concert was held at ICE BSD and Foodservice industries, and was
with tickets sold out. BNI also presents organized by the Korea Trade-Investment
a limited edition TapCash with a special Promotion Agency (KOTRA) at Kintex
SUGA | design Agust D who has been Korea. SFH 2023 was attended by around
welcomed very enthusiastically by fans. 38 thousand visitors from industry
experts in Korea.
May 26-28, 2023 May 30 – June 2, 2023
Organizing the 2023 BNI Java Jazz Offline event “Gelegar Rejeki BNI
Festival #GaPakeNanti The Finale” at Jakarta
BNI once again presented at the As the highlight of the “Gelegar Rezeki
international music festival BNI Java BNI “GaPakenanti” event, BNI presented
Jazz Festival 2023, held at JIExpo the main prizes for the Regular Draw
Kemayoran as part of the Company’s program (in which all BNI Savings
attention program for all customers customers participated) with the Grand
who are loyal to BNI banking products. Prize being 2 Land Rover Defender 110
Attractive promos and digital banking cars, 17 Hyundai Creta cars, and 195
services were also prepared to facilitate Honda Beat motorbikes, and for the
financial transactions during the BNI Entrepreneurial Draw (in which BNI
Java Jazz Festival event Taplus Bisnis customers participated)
with a Grand Prize of 2 Mitsubishi New
June 9-11, 2023 Tritan Double Cabin Cars, and 17 Honda
June 2-4, 2023
Scoopy motorbikes.
36 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Participation in the “Korea Import Fair Launching Indonesia Incorporated Sub-
2023” event Team Hong Kong
BNI was present with Indonesian This activity was held at the BNI Hong
exporters at the Korea Import Fair Kong Gallery, Admiralty and attended
(KIF) event organized by The Korea by the Minister of BUMN Erick Thohir,
Importers Association (KOIMA) the Board of Directors of 5 BUMNs in
at COEX Mall, Seoul. KIF brought Hong Kong (BNI, Mandiri, BRI, Telkom
together exporters from the corporate and Garuda Indonesia), the Board of
and MSME segments from all over Directors of Mind ID, PLN, Pertamina
the world with the industrial and trade and Indonesian Battery Corporation
sectors in Korea. (IBC).
June 29 – July 1 June 30, 2023
Business Forum – Developing Bird Nest – Business Matching
Electronic Vehicles Ecosystem Taking place at the Forever Harvest
As part of the launch of Indonesia Warehouse in Kwai Chung, Hong
Incorporated, Indonesian Battery Kong, this activity was attended by
Corporation (IBC) and Fulcrum were Minister of BUMN Erick Thohir, BNI
present. The event explained the Directors, Alex Chu - Owner of Forever
roadmap for nickel mining, battery Harvest and Sarinah - Owner of
production and EV trends, as well Forever Harvest. The activities included
as strategic plans to accelerate the encouraging Indonesian products to
implementation of EVs in Indonesia. enter the Hong Kong market. One of
The activity was held at the BNI Hong the main products requested to be
Kong Gallery and was attended by exported by Indonesia to Hong Kong
the Minister of BUMN, the Boards of was bird nest.
Directors of 5 BUMNs in Hong Kong
(BNI, Mandiri, BRI, Telkom and Garuda
June 30, 2023 Indonesia), the Board of Directors of July 1, 2023
Mind ID, PLN, Pertamina and (IBC).
Gathering of Indonesian Migrant Workers BUMN Fest 2023
in Hong Kong The Ministry of BUMN, in collaboration
Indonesian Migrant Workers are one of with the BUMN Public Relations
the country’s largest foreign exchange Forum, has organized BUMN Fest
earners for Indonesia. On the occasion 2023 as an event for sports and arts
of the launch of Indonesia Incorporated competitions within BUMN. BNI has
at the BNI Hong Kong Gallery, Admiralty. participated in sports which are part of
BUMN Minister Erick Thohir held a the financial services cluster and the
friendly meeting by greeting Indonesian arts branch and succeeded in getting
Migrant Workers in Hong Kong. This the General Champion title.
event was attended by all Indonesian
Migrant Workers in Hong Kong and also
the Board of Directors of 5 BUMNs in
Hong Kong (BNI, Mandiri, BRI, Telkom
July 1, 2023 July 14 to August 1, 2023
and Garuda Indonesia).
Buyer Dinner Signing of a Business MoU between
Taking place at Indonesia Restaurant BNI and The Shoko Chukin Bank
1968, Hong Kong and attended by Held at the ASEAN-Indo-Pacific Forum
the Trade Consul of the Indonesian (AIPF), the signing was attended by
Consulate General in Hong Kong, BNI BNI Directors and a delegation from
Hong Kong and all Hong Kong buyers/ The Shoko Chukin Bank. The signing
importers, marketing and business of the MoU was carried out for closer
matching was held with Hong Kong business cooperation between BNI and
buyers who imported from Indonesia The Shoko Chukin Bank. Both financial
in the form of seafood, bird nest, institutions agreed to continue to
consumer goods and several Indonesian strengthen business referrals from
entrepreneurs who own property in Japanese companies operating in
Hong Kong. Indonesia to use various products,
July 19, 2023 services and networks offered by BNI.
July 19, 2023
Gathering with the West Java Launch of BNI-SILOAM HOSPITALS
Governor. CoBrand Credit Card
West Java Governor Ridwan Kamil Siloam Hospitals Group (Siloam) and
visited and shared stories about sister BNI launched the first co-branded
cities between Bandung and Hong product in the hospital network in
Kong as well as several cities in China the form of BNI x Siloam Hospitals
and how these relationships impact the Credit Card. Cardholders can enjoy the
economy, tourism and trade between convenience of cashless payments,
the countries. The event was held in high payment security, and access
the Ramayana room – Indonesian to Mastercard’s global network
Consulate General in Hong Kong worldwide. The launch was held at the
and was attended by Act. Indonesian MRCCC Siloam Semanggi Ballroom
Consul General to Hong Kong Slamet and was attended by BNI Directors and
Nugroho, BNI Hong Kong Staff and all Siloam Hospital management.
July 27, 2023 August 9, 2023
Indonesian Diaspora.
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HKTDC Food Expo 2023 Belt and Road Summit
The Indonesian product showcase Taking place at the Hong Kong
brought by the Xpora Team also Convention and Exhibition Center, this
presented Rumah Tempe Azaki so you event was attended by Special Staff
could directly take part in the food of the Coordinating Minister for the
expo and meet potential buyers from Economy, Dr. Rizal Affandi Lukman,
Hong Kong. The result was the signing BNI and BUMN in Hong Kong as well
of an MOU for sending and purchasing as the Indonesian Consulate General in
tempeh between Forever Harvest and Hong Kong. The Belt and Road Summit
Rumah Tempe Azaki, amounting to 1 is an annual event held to promote
ton per month. business collaboration that occurs
between countries crossed by the one
belt road route. At this event, talks and
meetings were held between the heads
August 17-19, 2023 August 23-25, 2023
of government of the countries that the
road passed.
Diaspora Loan Signing – Lucky CISO Himbara Forum
Indonesia Restaurant To face Cybersecurity attacks
The signing took place at BNI Hong which always evolve according
Kong, Admiralty, attended by GM and to technological developments,
DGM BNI Hong Kong, FI and CRM BNI collaboration and collective effort
Hong Kong team and Owner of Lucky between Bank Himbara is needed. In
Indonesia restaurant Chan Lin Ying. this event, BNI invited Bank Mandiri,
Providing a Diaspora Loan to Lucky Bank BRI, Bank BTN and Bank BSI to
Indonesia Restaurant to renovate a work together in anticipating cyber
restaurant that has been established threats. As a resource person, Chair
for 30 years in the Kwun Tong area, of the Indonesia Civil Society Forum,
Kowloon, Hong Kong. Mr. Ardi Sutedja provided insight and
experience sharing in dealing with
cyber attacks.
August 24, 2023 August 30, 2023
2023 Lotte Brand Expo Seminar and BNI’s participation in the ASEAN Indo
Business Matching Pacific Forum (AIPF) 2023
Collaboration between BNI, the The AIPF Forum is a platform for
Indonesian Ministry of Trade, and Lotte BNI to show its achievements and
Group Korea to connect Indonesian vision for sustainable portfolio
export business actors who have the development, while strengthening
potential to collaborate with importers BNI’s role as a global banking entity.
from Lotte Group Korea through One implementation is by expanding
seminars and business matching the capacity of MSME businesses
events. in collaboration with the diaspora
and initiating international market
penetration through innovative digital
solutions, namely Xpora.
September 5, 2023 September 6, 2023
Alpha Southeast Asia Best FI Award BNI’s participation in Citic CLSA 30th
2023 Investor Forum activities
The Alpha Southeast Asia FI Award is Held at the Rosewood Hotel,
an awards event for the biggest and Hong Kong, the Citic CLSA 30th
best banking and financial innovators Investor Forum was attended by the
in Asia. BNI and its subsidiary PT BNI Coordinating Minister for Maritime
Sekuritas received six awards at the and Investment (Menko Marves)
Alpha Southeast Asia Best Awards Luhut Pandjaitan, BNI Commissioner
2023 event for their best performance Septian Hari Seto and representatives
in providing superior financial products of BNI Hong Kong. On this occasion,
for customers. Coordinating Minister for Maritime
Affairs and Fisheries Luhut Panjaitan
gave a presentation regarding nickel
September 7, 2023 September 11, 2023 downstreaming in Indonesia and
Indonesia’s potential to become a
developed country with the largest
market in 2045.
Socialization of Digital Account Launching BNI JCB Ultimate
Opening (DOA) to the Indonesian BNI together with JCB Indonesia
Students Association (PPI) launched the newest BNI JCB Ultimate
Taking place at the BNI Hong credit card targeting the super
Kong Gallery, Admiralty, the DOA premium segment. The event was held
socialization was held to coincide at Wabisabi MDA Place and attended
with the Welcoming Gathering event by the President Director of JCB
held by PPI for new students. The Indonesia, Takumi Takahashi.
socialization activity was attended
by BNI Hong Kong and new students
from Indonesia.
September 17, 2023 September 20, 2023
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Socialization of Opening Savings BNI support in the 2023 Indonesian
Using Digital Population Identity Festival
(IKD)/Single Identity Number (NIT) Held in Gwanghwamun, Seoul, Korea,
and BPJS TK Payments via BNI 2023 is the 50th Indonesian Festival
Mobile Banking Abroad in Korea. This event is an annual
The activity was held at the BNI event from the Indonesian Embassy
Hong Kong Gallery, Admiralty and which was created to commemorate
was attended by BNI’s Directors, the cooperation between Korea and
Director of Data Integration of the Indonesia by introducing Indonesian
Ministry of Home Affairs, and all culture to the local Korean community.
Indonesian PMI and Diaspora.
September 24, 2023 September 28, 2023
Indonesia Investment Forum (IIF) 2023 Talkshow Customer Protection
IIF 2023 was held at the Indonesian Implementation to Improve Customer
Embassy in London, and BNI was Experience
present to support the promotion Activities related to protecting
of investment opportunities in consumers and the public in the
Indonesia. A business matching financial services sector were carried
session was held between Indonesia out in the Ballroom Fl. 6 BNI Menara
and other countries. Pejompongan. The speakers included
Friderica Widyasari Dewi (Chief
Executive of PUJK Supervision,
Education and Consumer Protection
and Members of the FSA Board of
Commissioners), and Angkie Yudistia
October 5, 2023 (Special Staff to the President for
October 10, 2023
Social Affairs).
BNI support in the 2023 Indonesian 1000 People Tell Stories
Festival In commemoration of World Mental
In order to establish business Health Day, BNI participated in the
cooperation in business referrals BUMN Ministry’s 1,000 People Telling
for The Ashikaga Bank customers Stories event, where this event could
operating in Indonesia to use BNI become a forum for BUMN employees
products, services and networks, an to tell stories and consult directly.
MoU was signed at BNI KCLN Tokyo
and attended by delegations from both
financial institutions. At this event,
The Ashikaga Bank was also invited to
take part in the Personnel Interchange
Program.
October 13, 2023 October 13, 2023
Signing of a Business MoU between Business Forum and Networking
BNI and The Hamamatsu Iwata Shinkin Session: Unlocking Opportunities in
Bank Japan
Taking place at The Hamamatsu Iwata Located at Plaza BNI BSD, and attended
Shinkin Bank, the signing of the MoU by the Head of ITPC (International Trade
was attended by delegations from both Promotion Center) Osaka Dicky Farabi,
financial institutions. The collaboration Director of Jukuta Togyo Co. Ltd. Shinji
was carried out in the context of Kojima, Director of Seita Corporation
business cooperation in referring Wiwik Setiawati, CEO of Sariraya Co
business customers to The Hamamatsu Ltd. Teguh Wahyudi. The activities
Iwata Shinkin Bank operating in included exploring joint business
Indonesia to use BNI products, services potential with Japanese importing
and networks. The Hamamatsu Iwata companies.
Shinkin Bank was also invited to take
October 16, 2023 October 20, 2023
part in the Personnel Interchange
Program.
Signing of a Memorandum of Cooperation Agreement between BNI
Understanding between BNI and Agen46 and Asperindo (Indonesian
Indonesia Market Management Association)
BNI and Indonesian Diaspora Network The collaboration carried out is an
Global signed a memorandum of expansion of business cooperation by
understanding as a sign of continued working on market traders to become
cooperation between the two parties BNI Agen46 partners with the aim of
since 2022. The signing was carried creating an ecosystem and market
out by the Head of BNI’s Head of digitalization.
International Banking and FI Division,
Rima Cahyani and the President of
IDN Global, Sulistyawan Wibisono,
at Plaza BNI BSD. This event was also
October 20, 2023 attended by the Indonesian Embassy October 23, 2023
to Australia and New Zealand.
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Launch of the Guidebook Café Show 2023
“Implementation of Consumer and The exhibition, which took place
Community Protection” at the Coex Exhibition Hall, Seoul,
At Plaza BNI - BSD Tangerang, the book Korea, was held to promote specialty
“Implementation of Consumer and coffee originating from Indonesia so
Community Protection” was launched that Indonesian products could be
by Rahmat Pertinda (Head of Customer tried directly by potential buyers in
Experience Center Division). The book Korea. This activity aims to increase
launch was part of BNI’s consumer the purchasing power of the Korean
and public protection education and people towards Indonesian coffee so
outreach programs. that the export and import process
occurs between the two countries.
October 30 2023 November 6, 2023
Signing of MoU between BNI, Seven Collaboration for the Earth by BNI x
Bank, Alto, and iForte WWF (Credit Card Revamping BNI-
At BNI Tokyo, this collaboration was WWF and launch of WWF Membership)
intended to provide easy solutions for BNI and WWF launch a new
BNI Debit Card and BNI Mobile Banking collaboration in “Collaboration for
transactions at Seven Bank ATMs, and the Earth” event, powered by BNI &
also sending remittances to diaspora WWF, which took place at Dewandaru
customers in Japan. Pendopo, Haji Nawi, South Jakarta.
BNI together with the WWF Indonesia
Foundation launched the new face of
the BNI-WWF Indonesia Credit Card.
Present on this occasion were the
management of BNI and WWF
November 7, 2023 November 9, 2023
BNI Indonesian Masters 2023 Launch of the Indonesia House of Bean
As one of the largest and most iconic (IHOB) Initiative
golf tournaments in Indonesia, the BNI collaborates with the trade attaché
BNI Indonesian Masters was held office in Singapore and the Bank
again, attended by world-class golfers Indonesia office in Singapore to carry
and broadcast live globally. This out collaboration in the context of
tournament has been held for the launching the Indonesia House of Bean
eleventh time on the international (IHOB) Initiative in Singapore. This
standard course Royale Jakarta Golf collaboration aims to promote coffee
Club, Halim Perdana Kusuma, Jakarta. products for customers supported
by BNI Xpora in Singapore. This
collaboration is intended to promote
coffee products for BNI Xpora’s
November 16-19, 2023 November 18, 2023 customers in Singapore.
Sulselbar Access Management Relaunching BNI Emerald
Benchmark BNI introduced a new look for BNI
Automation of the access Emerald with the tagline “Your Life
management process has benefits Enhanced” which represents BNI’s
for banks both in terms of financial commitment to providing the best
efficiency and process acceleration. with Expert Advisory that focuses
On November 28 2023, the Bank on customer financial solutions. On
SulSelBar IT Team led by IT Director this occasion, the new Emerald debit
Iswadi Ayub conducted a technology card and infinite credit card designs
benchmark with the BNI CISO were also introduced which reflect
Division. In this event, BNI, IT the increasingly strong brand identity.
Director and Operations Toto Prasetio, The event took place at The St. Regis
shared about the process of access Jakarta
management automation at BNI.
November 28, 2023 November 30, 2023
Diaspora Seminar “Business BNI support in organizing Indonesian
Talk Series: Banking Services for Day 2023 – Vibrant Culture
Indonesian Diaspora Abroad” Taking place at TVB Tai Po, Hong Kong,
At Novotel Zurich, Switzerland, Indonesia Day is an event for the
this activity, as part of the Xpora Indonesian Consulate General which is
program, was held to address issues supported by Indonesia Incorporated,
of concern to the business diaspora which BNI is part of it.
in Switzerland, and involved MSME
stakeholders in Switzerland.
December 2, 2023 December 3, 2023
BNI as the Bank Distributing Social Relaunch Emerald in Hong Kong
Stimulant Assistance Harvest Failed The relaunch of Emerald and Private
Due to the Puso Flood Natural Disaster Banking in Hong Kong was held at the
BNI provides support to BNPB, in the BNI Hong Kong Gallery, Admiralty,
context of providing assistance to after previously being held in Jakarta
farmers who failed to harvest due to on November 30 2023, targeting
the Puso floods. The handover of aid professional Indonesian customers
was carried out symbolically by the who work in Hong Kong. This activity
President of the Republic of Indonesia, was attended by the Indonesian Consul
Joko Widodo, with a total distribution General for Hong Kong and Macau Yul
of 6,431 to farmers’ accounts in the Edison, Deputy GM of the WEM Division
Central Java area. Teddy Satriadi, GM BNI Hong Kong, all
Diaspora professionals and employees
December 13, 2023 December 19, 2023 of the Indonesian Consulate General.
40 From Local to Global
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Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 41
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45 Board of Commissioners’ Report
55 Board of Directors’ Report
Board of Directors’ Responsibility Statement
68 for the 2023 Annual Report of PT Bank Negara
indonesia (Persero) Tbk
Board of Commissioners’ Responsibility
69 Statement for the 2023 Annual Report of PT
Bank Negara Indonesia (Persero) Tbk
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PRADJOTO
PRESIDENT COMMISSIONER/INDEPENDENT COMMISSIONER*
*In the fit and proper test process as President Commissioner/Independent Commissioner
44 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Board of
Commissioners’ Report
Despite the global environmental disruption throughout 2023, both in terms of supply chains, global financial
sector volatility, and geo-economic fragmentation, the pace of the domestic economy was still very resilient,
including the Indonesian financial industry’s condition that was also positive. Amid this optimism, please
allow me, on behalf of Board of Commissioners, to present the PT Bank Negara Indonesia (Persero) Tbk
Annual Report for Fiscal Year 2023, which will provide an overview of BNI’s efforts to continue to create
added value for its shareholders and all stakeholders.
OVERVIEW OF THE GLOBAL AND Even though, the inflation normalization trend was not
NATIONAL ECONOMIC AND FINANCIAL accompanied by the Bank Indonesia (BI) benchmark interest
INDUSTRY SITUATION IN 2023 rates, the relatively high interest rates from BI were down
to BI’s attempts to maintain liquidity, especially during
The global economy challenges in 2023 were the result the volatility of the Rupiah exchange rate that continued
of continued pressure from the situation in 2022. Global to be overshadowed by global uncertainty. Under these
supply imbalances that impacted goods inflation, and conditions, in 2023 national banking grew quite moderately.
geopolitical issues in many regions that impacted trade Third Party Funds (DPK) only grew by 3.4% YoY up until
relations stability in the world economic network, remained October 2023, while loan growth was stable at 10.3% YoY,
some of the major issues causing a world economic in the upper range of Bank Indonesia’s estimate of 9-11%.
slowdown. Several countries implemented anticipatory
monetary policies to reduce the threat of high inflation, APPRECIATION FOR BOARD OF DIRECTORS’
and these have proven to have reduced this turmoil very PERFORMANCE IN MANAGING BNI
well.The significant decline in key commodities was also an
important indicator for reducing inflation in other derivative To carry out the Limited Liability Company Law mandate, the
products. However, the decline in inflation in several key Articles of Association and the aspirations of shareholders
commodities were the result of several important events, regarding supervision of the Board of Directors management
such as the economic growth of the United States and China of BNI, the Board of Commissioners’ role is to provide views
which together determines the world economic chain, as to the Board of Directors on the accountable and prudent
well as the climate phenomenon known as “El-Nino” that management of the Bank.
occurred in April 2023 which had a direct impact on the
production of several key commodities. Measuring the Board of Directors performance is by is
achieved by measuring their fulfillment of duties and
Despite this challenging situation that still required the right responsibilities, as well as targets prepared after joint
focus, Indonesia was able to maintain its economy at the studies with each subsidiary’s management. The results
expected level. National inflation was managed well, and of the studies are then translated into a target plan in the
this had a positive impact on the national economy that saw Bank’s Business Plan (RBB), which after consulting with the
solid growth in Gross Domestic Product (GDP), especially Board of Commissioners is reported to OJK.
when compared to other countries similar to Indonesia.
The Indonesian Government’s efforts to encourage In addition, the Ministry of SOEs, as the proxy shareholder
economic-forming factors created a solid foundation for of the Indonesian Government, determines the
the Indonesian economy. assessment measures for the Board of Directors duties
and responsibilities for managing the SOE. The Board
of Directors and Board of Commissioners performance
assessments are carried out once every year by the Ministry
of SOEs using Key Performance Indicators (KPI).The Board
of Directors performance assessment refers to the Minister
of SOEs Regulation No. PER-2/MBU/03/2023 concerning
Laporan
AnnualTahunan
Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 45
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2023 Management Company Management Discussion and Business Support
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Guidelines for Governance and Significant Corporate low-cost funds or Current Account/Saving Account (CASA)
Activities of SOEs, and the Ministry of SOEs Letter No. maintained at 71.2%, which will certainly have a positive
S-220/MBU/04/2023 concerning Submission of Proposed impact on profitability as expected by shareholders.
Key Performance Indicators for PT Bank Negara Indonesia
(Persero) Tbk for 2023. To determine healthy banking management, capital
management is important, and BNI’s capital performance
The Board of Directors’ performance assessments criteria has shown good results.The Minimum Capital Requirement
contains Key Performance Indicators (KPI) for Directors Ratio (KPMM), or Capital Adequacy Ratio (CAR), grew
collectively and KPI for Directors individually. These are stronger compared to the previous year, and are still well
prepared in accordance with BNI’s strategy and focus for above the minimum requirements of the regulator.
the current period as stated in the Bank Business Plan
(RBB). For the Board of Directors’ collegial KPI, they are SUPERVISION OF STRATEGY
laid out in 5 (five) priority programs, namely the Economic FORMULATION AND IMPLEMENTATION
and Social Value for Indonesia including the financial and BY THE BOARD OF DIRECTORS
social aspects, Business Model Innovation, Technology
Leadership, Increased Investment, andTalent Development. The Board of Commissioners and the Board of Directors as
Each priority program includes the KPIs that reflect the the main organs as part of compliance with applicable laws
financial and non-financial performance targets aligned and regulations.The Board of Directors’ role is in managing
with the established strategic initiatives. The individual the Bank’s operations and business, while the Board of
Directors’ KPIs are prepared according to the duties, main Commissioners’ role is in supervising the management
functions and responsibilities of each member of the Board of the operations and business carried out by the Board
of Directors. of Directors.
The Board of Directors’ collegial and individual KPI The working relationship between these two organs is built
achievements are reported to the Board of Commissioners. on mutual respect between the two. There are limitations
In addition, the Board of Directors’ collegial and individual on the responsibilities and roles carried out by both the
KPI achievements calculations are reviewed by the Public Board of Commissioners and the Board of Directors. The
Accounting Firm (KAP) that audits BNI’s financial reports, Board of Commissioners is tasked with supervising the
and they are then sent to the majority shareholder, in this management of BNI and its business groups by the Board
case the Ministry of SOEs. of Directors, providing advice to the Board of Directors,
and ensuring that the Company applies Good Corporate
The Board of Commissioners assessed that the Board Governance (GCG).
of Directors had properly carried out its duties and
responsibilities throughout 2023. This is reflected, among In designing and formulating the RBB, the Board of
other things, in the Board of Directors’ Collegial KPI Commissioners’ role is to ensure the aspirations of
assessment results, which achieved relatively good results stakeholders, especially investors and shareholders, are
when compared to the Company’s Work Plan and Budget properly included.The Board of Commissioners would like
(RKAP) and other established measures. To the future, the to express its appreciation for the corporate transformation
Board of Commissioners advises the Board of Directors strategic initiatives and policies that have been carried out
to maintain close collaboration, in order to ensure growth since 2021, which are expected to achieve the best results
quality amidst the Company’s transformation efforts and in 2025. Following the strategic steps taken since 2021, in
the ever changing global dynamics. 2023 BNI strengthened its business model and implemented
a new work culture called New Ways of Working (NWOW).
Based on the KPI results, the Board of Commissioners would This step was necessary to ensure BNI’s banking operations
like to express its thanks for the performance achievements added value in a sustainable manner, especially for those
shown by BNI throughout 2023. Fundamental business customers who have high hopes for innovation in BNI’s
growth provides a big picture of BNI’s future development, superior banking products and services.
and this could be seen from the increase in loans disbursed,
and the decrease in gross Non-Performing Loans (NPL), The Board of Commissioners supervisory functions for
which in tandem will build a strong foundation for BNI to the implementation of the Board of Directors’ strategies
grow its business in a sustainable manner. include efforts to supervise the Bank Business Plan
(RBB); evaluate BNI’s performance every month, and
Likewise, BNI’s customer deposits, or Third Party Funds submit performance reports to the Ministry of SOEs on a
(TPF), grew compared to the previous year, and this quarterly basis; propose the appointment of an External
provided a general picture of BNI’s management on a Auditor to audit the BNI Consolidated and Other Reports
path in line with the shareholder’s aspirations. The growth for the Fiscal Year ending December 31, 2023; carry out
of deposits continues to be healthy with the ratio of
46 From Local to Global
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supervisory functions over internal control at BNI; carry out VIEW ON HUMAN CAPITAL MANAGEMENT
supervision, monitoring and evaluating the Bank’s Health
Level, and supporting the Board of Directors to take the Human Capital (HC) management is an important aspect
necessary steps to maintain and/or improve the Bank’s in the banking business. Especially during the corporate
Health Level; carry out supervisory functions over BNI transformation carried out by BNI, where NWOW was an
Risk Management and Integrated Risk Management; carry important initiative implemented in 2023, where HC played
out supervisory functions on BNI compliance, including a major big role in BNI’s success in achieving its desired
supervisory functions on the implementation of Anti- vision.
Money Laundering, Prevention of Terrorism Financing
and Prevention of Funding for the Proliferation of Weapons Regarding HC management, the Board of Commissioners
of Mass Destruction (APU PPT and PPPSPM) at BNI; assessment of the application of the Bank’s strategies and
evaluate, direct and monitor strategic plans, implementation policies carried out by the Board of Directors in HC is going
of information technology and Bank policies related to very well. By implementing strategic policies that focus
information technology; monitor the evaluation of the on developing effective employee competencies, BNI has
Recovery Plan; supervising the implementation of the continued to position employees as strategic partners as
precautionary principle in providing loan facilities by the well as stakeholders for achieving the Bank’s goals. Every
Board of Directors; monitor and evaluate developments in year, efforts made by the Board of Directors in the field
the development and management of Human Capital (HC), of HC have increased the culture of risk awareness and
especially with the strategic function of HC in supporting compliance culture through the programs held.
BNI’s performance achievements; and submit reports to the
Ministry of SOES regarding the Board of Commissioners’ The Board of Commissioners view is that strengthening
response to BNI’s performance report as a follow-up to the HC in BNI’s corporate transformation has proceeded as
Minister of SOES Letter to the Board of Commissioners expected. The RACE (Risk Culture, Agile, Collaboration, &
stating that to make supervision and guidance of SOES Execution Oriented) theme was an important point that
performance more effective, the Board of Commissioners supported BNI’s corporate transformation. The Board of
is requested to submit opinions and responses to BNI’s Commissioners hopes that strengthening HC will provide
performance report on a quarterly period basis. In addition, added value on an ongoing basis, not only for BNI, but
the Board of Commissioners also visits Regional Offices, also for each individual BNI Hi-Mover in shaping their
Branch Offices including Overseas Offices offline and/or personality.
online in order to carry out supervisory functions. In 2023,
the Board of Commissioners carried out online and offline VIEW ON OPTIMIZING INFORMATION
working visits to 25 locations, including Divisions, Regional TECHNOLOGY AND EFFORTS TO
Offices, Branch Offices, Subsidiaries and Overseas Offices. REALIZE LEADING DIGITAL BANKING
In particular, the Board of Commissioners plays an Strengthening information technology infrastructure is
important role in ensuring the application of GCG principles a must for modern financial institutions. The Board of
and practices at all levels of the BNI organization, as well Commissioners encourages the Board of Directors to
as at Financial Services Institutions within the BNI Financial continue strengthening the Bank’s information technology
Conglomerate. infrastructure.This is in line with the global financial services
trend towards digital finance.
MECHANISM FOR PROVIDING ADVICE
TO THE BOARD OF DIRECTORS The Board of Commissioners hopes that BNI will continue
to innovative digitizing its services, to be at the forefront
Supervision by the Board of Commissioners is carried out by in providing the best digital banking services. The Board
holding meetings, both internal meetings and joint meetings of Commissioners supports the Board of Directors’
by inviting the Board of Directors or Sector Directors. Joint efforts to provide added value to customers through the
meetings of the Board of Commissioners and the Board of key technologies adopted that have made a significant
Directors are held regularly to discuss certain aspects such contribution to BNI’s digital banking product and service
as monitoring BNI’s business performance, organization, development needs in recent years.
risk management, legal internal control and compliance,
human capital, technology, etc. The Board of Commissioners also supervises the ongoing
Information Technology system compliance in accordance
During 2023, 63 Board of Commissioners and the with applicable regulations, including its relationship to the
Board of Directors joint meetings were held covering a principal support of the BNI InformationTechnology system,
variety of discussions, especially for monitoring of the covering the terms of policies, standards and procedures,
continuing corporate transformation and its impact on as well as information security aspects. In an effort to
BNI’s performance. increase information security, apart from implementing
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2023 Management Company Management Discussion and Business Support
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various international standards protections, BNI has also high inflow of foreign funds to strengthen liquidity and
established a special organization that combines several cover part of the current account deficit.
units that have functions related to information security to
maintain independence, so as to focus more on evaluating, The Board of Commissioners welcomes BNI’s performance
implementing, monitoring and improving cyber security. projections for 2024, prepared by the Board of Directors.The
focus on healthy and quality asset growth is certainly the
VIEW ON THE COMPANY’S BUSINESS most basic target for BNI’s banking business. The Board of
PROSPECTS PREPARED BY THE Commissioners is of the opinion that the strategic initiatives
BOARD OF DIRECTORS as part of BNI’s business plan in 2024 are in line with the
aspirations of shareholders and all investors regarding
2024 will be an important year for Indonesia. The five-year BNI’s added value, both in terms of product innovation and
political cycle through the General Election (Pemilu) will banking services, as well as returns for shareholders and
be held on February 14, 2024, and this will culminate in a investors. In addition to the projected lending growth based
change of executive and judicial leadership of Government on strong risk management, the Board of Commissioners
administrative management. Not only will this event bring also welcomes the other strategic plans for BNI for 2024,
major changes to national leadership, it will also provide a including expanding its international business networks,
positive stimulus for the Indonesian economy, especially strengthening business networks, especially Digital
with an increase in public consumption and aggressive Banking, Human Capital and information technology in
fiscal spending to meet the needs of holding the elections. terms of supporting sustainable expansion, as well as
optimizing the subsidiaries’ performance that will contribute
Interestingly, this major event is being held in the midst of positively to BNI’s consolidated performance.
a world economy that has not yet shown any extraordinary
improvements. The IMF projects global economic growth The Board of Commissioners supports all of these strategic
to reach 2.9%, lower than the projected figures for 2022 plans, which are expected to continue to strengthen
and 2023 of 3.5% and 3.0% respectively. Inflation is still the foundation of a sustainable business so that BNI
high, especially when compared to the average before the will grow not only annually, but also with certainty will
COVID-19 pandemic, and still puts pressure on monetary grow sustainably into the future. Also, the Board of
policies in many countries. The Federal Reserve, the Commissioners sincerely hopes that Indonesia’s leadership
central bank of the United States, is projected to reduce transition in 2024 will bring the Indonesian economy to
its benchmark interest rate or Federal Funds Rate (FFR) with a better growth and will produce positivity to the socio-
predictions that Personal Consumption Expenditures (PCE) economic life of the Indonesian people.
inflation or individual spending, which are high compared
to pre-COVID-19 pandemic. It is estimated that inflation VIEW ON THE BANK’S GOVERNANCE
normalization will only be realized in 2026. IMPLEMENTATION
Facing quite challenging economic prospects, Indonesia The Ministry of SOEs, the Financial Services Authority
is expected to maintain its solid economic condition. (OJK), the Indonesian Stock Exchange (BEI), Bank Indonesia,
Indonesia’s Gross Domestic Product (GDP) growth is and all stakeholders with an interest in the capital market
expected to remain stable at a level of 5.0%, with the impact and the development of the Indonesian business world, are
of the global economy predicted to have a direct impact committed to encouraging the application of GCG principles
on exports and investments. However, it is hoped that the and practices as a value that must be upheld by every
election events in 2024 will create a driving force to maintain business entity doing business in Indonesia. BNI welcomes
the Indonesian economy at a strong level. with open arms the good intentions of all stakeholders,
especially as GCG implementation has been proven to
It is also hoped that the prediction of good economic growth provide positive results for the sustainability of the business
will have a positive influence on banking, with projections world and the investment climate.
that national banking lending in 2024 will grow by 7.5% to
10%, mainly supported by better liquidity conditions. This As the organ tasked with supervising GCG the
is also reflected in the projection of the Rupiah exchange implementation by the Board of Directors, the Board of
rate which will be good, with predictions of a trend in FFR Commissioners view is that GCG implementation within BNI
cuts, a decline in the US Dollar index, as well as a fairly continues to increase from time to time. The development
of continuously updated policy tools, including evaluation
and monitoring of GCG, reflects the Board of Directors’
commitment to implementing GCG principles and practices
in all elements of the Bank’s operations and business.
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One important aspect for the successful implementation of The successful development of GCG implementation within
GCG principles is good synergy and collaboration between BNI in 2023 is also reflected in the appreciation received
the Board of Commissioners supporting organs and the from external parties, namely:
Board of Directors supporting organs. Through these 1. The title of “Leadership in Corporate Governance”
supporting organs, every aspect of implementing GCG in the implementation of GCG based on the ASEAN
principles can be applied and monitored, be it compliance, Corporate Governance Scorecard (ACGS) standard from
risk management, audits, to the development of HC and the Indonesia Institute for Corporate Directorship (IICD).
Information Technology as the foundations for realizing 2. Award as “The MostTrusted” Company in the Corporate
Bank accountability. Governance Perception Index (CGPI) fromThe Indonesia
Institute for Corporate Governance (IICG).
In addition, to support the implementation of GCG principles,
the composition of BNI Independent Commissioners is more The Board of Commissioners also welcomes the
than 50%. The majority and large number of Independent strengthening of GCG within BNI and the BNI Financial
Commissioners will encourage the Board of Commissioners Conglomerate, where the Board of Directors has
to act objectively to protect the interests of BNI and all strengthened it by establishing a Department under the
stakeholders. Compliance Division with special duties and responsibility
for managing GCG implementation within the BNI business
group.
The Board of Commissioners would like to emphasize the importance of a code of ethics that is based on the Company’s
Core Values or “AKHLAK”. Implementing a code of ethics forms part of BNI Hi-Movers’ behavior to act with integrity,
which will ultimately shape their personal behavior in their daily lives.
ASSESSMENT OF COMMITTEES UNDER THE BOARD OF COMMISSIONERS
Committees Supporting the Board of Commissioners
Risk Management Nomination & Integrated
Audit Committee Monitoring Remuneration Governance
Committee Committee Committee
The Board of Commissioners duties and functions for The Risk Management Monitoring Committee has
supervising the management of the Company is supported carried out its duties, including providing reviews and
by the Audit Committee, Risk Management Monitoring recommendations on aspects of governance and risk
Committee, Nomination & Remuneration Committee, and management within BNI, including integrated risk
Integrated Governance Committee. management.
The Board of Commissioners would like to express its The Nomination & Remuneration Committee has carried
appreciation for the support these 4 Committees have out its duties, including managing human capital as well
given to increase the effectiveness of the Board of as evaluating and recommending proposed changes
Commissioners duties and functions of the throughout to the Board of Directors and Board of Commissioners
2023. The Audit Committee, Risk Management Monitoring in subsidiaries and has worked together with other
Committee, Nomination & Remuneration Committee, and committees.
Integrated Governance Committee have demonstrated
good performance by upholding good competency and Meanwhile, the Integrated Governance Committee
quality standards. provides valuable input on the performed supervision on
the implementation of Integrated Governance within BNI
The Audit Committee has monitored and evaluated Financial Conglomeration, concerning the implementation
internal control, and effectively assisted the Board of of Integrated Governance Guidelines, the implementation
Commissioners in supervising the internal and external quality of integrated compliance function, the quality
audit functions, including evaluating the Company’s of integrated internal control, the implementation of
periodic performance achievements. In carrying out its integrated risk management, the implementation quality
duties, the Audit Committee held meetings with the Board of of integrated governance by evaluating the integrated
Commissioners and meetings inviting related Directorates, governance structure, process, and results, the effectiveness
Internal Audit and other related divisions and has worked of integrated governance results by monitoring integrated
together with other committees. financial performance and the synergy plans between BNI
and subsidiaries and synergies between subsidiaries.
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All of the Board of Commissioners committees duties, IMPLEMENTATION OF A VIOLATION
including recommendations to management, are one form REPORTING SYSTEM OR
of the Board of Commissioners’ efforts to improve the WHISTLEBLOWING SYSTEM (WBS)
corporate governance function with the hope that efforts
to improve BNI’s performance can be optimized through The Whistleblowing System (WBS) forms part of BNI’s
effective monitoring of bank governance carried out by the commitment to making GCG principles the foundation of
Board of Commissioners. every aspect of BNI’s daily operations and business. WBS is
a reporting mechanism that guarantees the confidentiality
INTERNAL CONTROL AND of the reporter, and detects early and prevents irregularities
RISK MANAGEMENT or violations in all aspects of the Bank’s business activities.
WBS will create an open, sincere, honest and responsible
The Board of Commissioners understands that internal work climate within BNI, as it encourages active participation
control and risk management are critical factors in BNI’s by BNI Hi-Movers to report violations that occur within BNI.
banking business. The big picture of strong capital and
decreasing NPLs is a strong reflection of the success of BNI has a “WBS to CEO” mechanism, as an early detection
the Bank’s internal control and risk management. However, mechanisms in WBS.To strengthen the existing WBS, BNI’s
strong risk management has to be balanced with good risk WBS management also appointed an external party, namely
management governance, as expresses in the existence of Deloitte, to manage WBS reports, to encourage BNI Hi-
structures, guidelines and monitoring of their realization. Movers to be brave and participate in reporting if there
are violations or indications of fraud. By so doing, the goal
The Board of Commissioners’ view is that BNI has an of WBS is to create a clean work environment with more
adequate internal control system, in accordance with effective and independent integrity.
the Bank’s business profile. Internal control is carried
out effectively as an important component in Bank To strengthen WBS as a tool to improve the governance
management, as well as forms the basis for healthy and safe and suppress potential fraud in BNI’s operations and
Bank operational activities.The Board of Commissioners is business, since March 2, 2021 BNI has collaborated
responsible for, and has supervised, the implementation of with the Corruption Eradication Commission (KPK) on
the internal control system, by approving and monitoring the handling complaints in an effort to eradicate criminal acts
Board of Directors’ policies for internal control. In carrying of corruption, the implementation of which is reported
out its duties, authorities and supervisory responsibilities, periodically to the KPK.
the Board of Commissioners is also assisted by the Audit
Committee, Risk Monitoring Committee, Nomination & The Board of Commissioners’ role in managing BNI’s
Remuneration Committee, and Integrated Governance WBS includes supervision to ensure the implementation
Committee. of the WBS with the assistance of the Audit Committee.
The Board of Commissioners, with the Audit Committee
When managing risk management, the Board of and other units, will always evaluate and follow up on
Commissioners is actively involved in supervising the reports received. Reports that are proven to be correct
risk management carried out by the Board of Directors. based on the results of the examination are followed up
The Board of Commissioners is of the opinion that BNI with administrative sanctions in the form of warning letters
has carried out risk management proactively in a forward- and termination of employment (PHK) as well as other
looking manner. actions, including transfers and counseling.
Based on the results of reviews and discussions with During 2023, there were 235 reports of alleged violations
management, internal auditors, all committees under received through the WBS mechanism with most complaints
the Board of Commissioners, as well as the independent via electronic mail channels. The violation reports are
auditors, the Board of Commissioners is of the opinion followed up using a research process carried out by Internal
that BNI’s risk management can adequately manage risks, Audit and/or SORX/Anti-Fraud Unit or related Division/
as reflected in the results of studies on the completeness Unit/Unit. Of all the reports submitted through the WBS
and accuracy of risk identification, measurement and mechanism, 83.8% completed the examination process,
monitoring, control and reporting, as well as the adequacy where in several cases firm action was taken. The number
of the mitigation scenarios proposed by operational work of incoming reports increased quite significantly compared
units. to the previous year, showing that BNI Hi-Movers have quite
high awareness of the existence and benefits of WBS as a
tool to strengthen the bank governance.
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TOGETHER TO ACHIEVE SUSTAINABILITY AND SUPPORT FOR THE SOCIAL AND ENVIRONMENTAL
RESPONSIBILITY
As a banking industry company, BNI plays an important role in realizing sustainable development in Indonesia. Over
recent years, BNI has made efforts to establish a green industrial ecosystem in Indonesia, especially through Green
Bond-based capital and Sustainability Linked Loan (SLL) funding as well as special financing schemes accompanied by
attractive pricing for green financing.
The Board of Commissioners welcomes and encourages BNI to continue improving the initiatives carried out to date.
The Board of Commissioners’ support is shown in its active involvement in monitoring sustainability, which has been
integrated into the strategy instigated by the Board of Directors. With this support, the Board of Commissioners has
become an important part of BNI’s success for applying and developing Environmental, Social and Governance (ESG)
aspects as well as Social and Environmental Responsibility (SER) practices, which will ultimately lead to joint growth
between BNI and all stakeholders.
BOARD OF COMMISSIONERS’ THE COMPOSITION CHANGES
In 2023, there were 2 (two) changes to the Board of Commissioners membership composition, each based on an Annual
GMS decision on March 15, 2023, and an Extraordinary GMS decision on September 19, 2023.The chronology of changes
to the Board of Commissioners membership composition in 2023, and the Board of Commissioners’ composition as at
December 31, 2023 can be seen below.
Chronology of Changes to the BNI Board of Commissioners’ Composition in 2023
Period January 1 Period March 15 to Period September 19
Information
to March 15, 2023 September 19, 2023 to December 31, 2023
Agus Dermawan Agus Dermawan
Wintarto Martowardojo Wintarto Martowardojo
(President (President Ceased serving based on the Extraordinary GMS Decision
Commissioner/ Commissioner/ dated September 19, 2023.
Independent Independent
Commissioner) Commissioner)
Pradjoto Pradjoto Pradjoto
Previous duties transferred as Vice President
(Vice President (Vice President (Vice President
Commissioner/Independent Commissioner to President
Commissioner/ Commissioner/ Commissioner/
Commissioner/Independent Commissioner, based on the
Independent Independent Independent
Extraordinary GMS Decision dated September 19 2023.
Commissioner) Commissioner) Commissioner)
Pahala Nugraha
Appointed based on the Extraordinary GMS Decision
Mansury (Deputy
dated September 19, 2023.
President Commissioner
Sigit Widyawan Sigit Widyawan Sigit Widyawan
Reappointed to serve a 2nd term based on the Annual
(Independent (Independent (Independent
GMS Decision dated March 15, 2023.
Commissioner) Commissioner) Commissioner)
Asmawi Syam Asmawi Syam Asmawi Syam
(Independent (Independent (Independent -
Commissioner) Commissioner) Commissioner)
Iman Sugema Iman Sugema Iman Sugema
(Independent (Independent (Independent -
Commissioner) Commissioner) Commissioner)
Septian Hario Septian Hario Septian Hario
Seto (Independent Seto (Independent Seto (Independent -
Commissioner) Commissioner) Commissioner)
Erwin Rijanto Slamet Erwin Rijanto Slamet Erwin Rijanto Slamet
(Independent (Independent (Independent -
Commissioner) Commissioner) Commissioner)
Askolani Askolani Askolani
-
(Commissioner) (Commissioner) (Commissioner)
Susyanto Susyanto Susyanto
-
(Commissioner) (Commissioner) (Commissioner)
Fadlansyah Lubis Fadlansyah Lubis Fadlansyah Lubis
-
(Commissioner) (Commissioner) (Commissioner)
Robertus Billitea Robertus Billitea Appointed based on the 2022 Annual GMS Decision dated
(Commissioner) (Commissioner) March 15, 2023.
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On behalf of the Board of Commissioners and all BNI Hi-Movers, we would to express our deepest appreciation and thanks
to Agus Dermawan Wintarto Martowardojo for the services provided to help BNI progress, especially when carrying out
the Board of Commissioners’ supervisory function, as well as actively participating in providing suggestions and advice
to the BNI Board of Directors and staff.
As of December 31, 2023 the Board of Commissioners’ membership composition was as follows.
BNI’s Board of Commissioners Composition as of December 31, 2023
Name Position Basis of Appointment Period in Office Effective Date*
Following previous term
President
in office as Vice President Currently in the OJK
Commissioner/ EGMS Decision dated
Pradjoto Commissioner/Independent Fit and Proper Test
Independent September 19, 2023
Commissioner, 2020-2025 process
Commissioner
(First Period)
Currently in the OJK
Pahala Nugraha Vice President EGMS Decision dated
2023-2028 (First Period) Fit and Proper Test
Mansury Commissioner September 19, 2023
process
Independent AGMS Decision dated
Sigit Widyawan 2023-2028 (Second Period) March 15, 2023
Commissioner March 15, 2023
Independent AGMS Decision dated
Asmawi Syam 2020-2025 (First Period) June 17, 2020
Commissioner February 20, 2020
Independent AGMS Decision dated
Septian Hario Seto 2020-2025 (First Period) August 14, 2020
Commissioner February 20, 2020
Independent AGMS Decision dated
Iman Sugema 2020-2025 (First Period) August 14, 2020
Commissioner February 20, 2020
Erwin Rijanto Independent AGMS Decision dated
2021-2026 (First Period) August 6, 2021
Slamet Commissioner March 29, 2021
EGMS Decision dated
Askolani Commissioner 2019-2024 (First Period) December 20, 2019
August 30, 2019
AGMS Decision dated
Susyanto Commissioner 2020-2025 (First Period) July 27, 2020
February 20, 2020
EGMS Decision dated
Fadlansyah Lubis Commissioner 2022-2027 (First Period) December 23, 2022
August 31, 2022
AGMS Decision dated
Robertus Billitea Commissioner 2023-2028 (First Period) September 11, 2023
March 15, 2023
*) The Board of Commissioners becomes effective after receiving OJK approval for the Fit and Proper Test. This is in accordance with OJK Regulation no. 27/POJK.03/2016
dated July 22, 2016 concerning Capability and Conformity Assessment for Main Parties of Financial Services Institutions.
As of December 31, 2023 until the signing of this annual report, there were no changes to the Board of Commissioners
structure and composition.
IN CLOSING
To all shareholders and investors, the Board of Commissioners would like to express its gratitude for the trust given.
Likewise, to the regulators and stakeholders, the Board of Commissioners would also like to express its deepest
gratitude for the support that have provided. To the Board of Directors and all BNI Hi-Movers, please allow the Board
of Commissioners to express their pride in the performance you have demonstrated. Hopefully all the achievements in
2023 will form the foundation for BNI going forward and grow sustainably, so it can continue to provide added value
to shareholders and all stakeholders.
Jakarta, February 7, 2024
On behalf of the Board of Commissioners of PT Bank Negara Indonesia (Persero) Tbk,
PRADJOTO
PRESIDENT COMMISSIONER/INDEPENDENT COMMISSIONER
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ROYKE TUMILAAR
PRESIDENT DIRECTOR
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Board of
Directors’ Report
DEAR SHAREHOLDERS AND STAKEHOLDERS,
2023 marked the third year of the BNI’s transformation program. Supported by all BNI hi-mover’s high commitment
and disciplined efforts, the transformation has seen a turning point that has strengthened BNI’s business
foundation. Through this transformation program, BNI consistently encourages strengthening the business
structure so that it is better prepared to face future economic dynamics and challenges. The results can be seen
in the level of profitability that continues to rise, especially in the Return on Equity (ROE) ratio.
BNI’s ROE in 2023 was 15.2%, an increase of 120 basis points from 14.0% in 2019. This was due to the capital
or equity value continuing to increase, reflecting an increase in the level of profitability. These positive results
were achieved thanks to fundamental improvements, including increasing fee-based income, operational
efficiency and asset quality.
However, this transformation program is more than just an initiative, it is a giant step that reflects our dedication
and commitment to continue to grow and develop and adapt to changes at the national and global levels.
In 2023, we also completed our medium-long term planning for the next 5 (five) years, where BNI’s aspiration is
to increase ROE to 20% by 2028. This increase in ROE will be achieved through consistency in recording quality
loan growth in the consumer, corporate and MSME segments so that asset quality will be healthy in the long
term. BNI’s profitability will also be driven by increased business productivity, operational efficiencies and the
contribution of subsidiaries. This has made the achievements up to 2023 the foundation for our steps forward.
On behalf of the Board of Directors and all BNI Hi-Movers, allow me to present the PT Bank Negara Indonesia
(Persero) Tbk performance report for the 2023 fiscal year.
A QUICK LOOK AT THE GLOBAL investment and government spending also supported the
AND NATIONAL ECONOMY AND momentum of economic recovery. Until the third quarter
FINANCIAL INDUSTRY IN 2023 of 2023, the domestic economy was able to grow 5.1%
and was expected to close at 5.0% at the end of 2023. This
The global economy in 2023 still reflected a number of post- figure is higher than the global economic growth, which was
pandemic challenges, from structural problems in major estimated to only grow 3.0% in 2023 by the International
economic countries to widespread geopolitical conflicts. Monetary Fund (IMF). Based on sector, the Indonesian
Furthermore, the imbalance in global supply and demand economy was supported by the processing industry,
due to the scarring effect has resulted in an increase in transportation sector, and trade sector. Meanwhile, export-
global inflation since the second semester of 2022. This oriented processing industry, such as textile and footwear,
condition has forced various central banks to increase experienced contraction in line with the global economic
benchmark interest rates in order to reduce inflationary slowdown.
pressures. For example, the Federal Reserve (Central Bank
of the United States) increased the Fed Fund Rate (FFR) by In terms of prices, national inflation was normalized after
525bps in 2022-2023 to a level of 5.25-5.50%. the increase in fuel prices. Inflation was closed at 2.6%
at the end of 2023, with lower core inflation at 1.8%. The
On the good side, Indonesia’s economic growth was solid inflation risk lies in the food group, where food inflation
and better than the average of G-20 countries due to the reached 6.4% as of December 2023 due to the El-Nino factor
dominance of household consumption, reaching 53% of and the protection policy of commodity exporting countries
Indonesia’s total GDP. Apart from household consumption, such as India, which prohibits rice exports.
Laporan
AnnualTahunan
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Even though national inflation was low, Bank Indonesia The national banking sector was experiencing moderate
continued to maintain tight monetary policy amidst growth, especially in Third Party Funds (TPF) which grew
pressure from the weakening Rupiah exchange rate, 3.8%YoY, lower than at the beginning of 2023 when it grew
especially in the second semester of 2023. Foreign fund 8% YoY. The liquidity position was good, as reflected in the
outflow was recorded at US$4.5 billion in the bond and Loan to Deposit Ratio (LDR) increasing to 84% from 79% at
stock markets in August-October 2023 period, which caused the beginning of 2023.This increase in LDR was mainly due
Rupiah exchange rate position depreciated until it reached to fairly consistent loan growth of 10.3% YoY, in the upper
its weakest position at IDR15,940 in October 2023. The range of Bank Indonesia’s estimate of 9-11%.
exchange rate began to slowly strengthen and reached
IDR15,397 at the end of 2023, in line with the clearer signals BNI STRATEGY AND STRATEGIC POLICIES
from the Federal Reserve regarding the future FFR direction FOR 2023 AND PERFORMANCE GROWTH
and Bank Indonesia’s response to raise the benchmark
interest rate (BI-rate) to 6.0% in October 2023. BNI’s Corporate Transformation that started in 2021 has
produced quite significant results. This strategy was
In terms of banking industry, credit growth reached 9.7% carried out in response to many challenges and changes
YoY in November 2023, which was in line with solid in the banking industry in recent years, especially after
domestic economic growth and Bank Indonesia’s credit COVID-19, to accelerate sustainable improvements in
growth estimate (9-11%). Nonetheless, loan-to-deposit financial performance, and as an effort for BNI to achieve
ratio increased to 85% in November 2023 from 79% at the its strategic direction in 2025.
beginning of 2023 due to third-party deposits grew more
moderately at 3.0% YoY in November 2023 (compared to In recent years, BNI has instigated many strategic
8% YoY at the beginning of 2023). steps to strengthen its capital including the issuance of
AdditionalTier 1 Capital Bond 2021 on the Singapore Stock
On the other hand, the Indonesian inflation normalization (SGX) Exchange, and Environmentally Friendly Bonds
trend was not accompanied by the Bank Indonesia (BI) (Green Bond) I 2022 on the Indonesia Stock Exchange;
benchmark interest rate. In September 2023, the BI interest strengthening HC through blueprints, roadmaps and talent
rate was 5.75% and it increased to 6% in early October pools; improving asset quality by optimizing Loan at Risk
2023. The relatively high BI benchmark interest rate was (LaR) management; end to end improvement of the loan
mainly due to BI’s policy focus on maintaining liquidity, processes; improvement of performance reports in the
especially the stability of the Rupiah exchange rate during Performance Management System (PMS) based on 3
global uncertainty. Capital and cash flight were the king dimensions; implementation of the New Channel Model and
trends that have been looming since 2022, and still posed operational centralization; strengthening the BNI business
a significant threat to the Rupiah exchange rate. As an group, especially with the formation of BNI Ventures, and
illustration, USD4.5 billion of foreign funds were recorded the acquisition of Bank Mayora to become a digital bank
as leaving the bond and stock markets in the period August under the “hibank” brand; as well as BNI’s expansion to go
to October 2023, which caused the Rupiah exchange rate to global through international networks such as BNI Xpora
depreciate until it reached its weakest position of IDR15,940 and the launch of BNI Amsterdam.
per USD in October 2023. However, the exchange rate
gradually strengthened to reach IDR15,397 at the end of In 2023, the BNI CorporateTransformation initiative focused
2023 in line with the more dovish monetary policy outlook on 2 (two) areas, namely strengthening business models
of the United States central bank. and implementing a new work culture.
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Implementation of New Ways of Working
(NWOW): a new way of working that is
Leaner, Agile and Customer Centric.
Strengthening business models through
Loan Scoring Models, as well as
implementing Credit Tools and Customer
Excellence.
The banking intermediation function inherent in the BNI’s In the operations management process, BNI prioritized
business certainly requires strong and accountable loan the principles of automation and efficiency. This principle
management. Strengthening business processes in BNI is an important part of BNI’s efforts to create agile and
Corporate Transformation will provide a solid foundation accountable business processes. End to end improvements
for providing loans, especially through a loan scoring to the loan process were also made, as well as digitalization
model to accelerate loan provision, while still relying on of pipeline documents and automation of 3D-based
risk awareness of the loan provided. PMS performance reports as previously stated. BNI also
continued to standardize and simplify loan documents up
BNI also understands that the highly competitive banking to the Credit Committee Decision Memorandum (NK3) to
industry needs BNI to carry out internal transformation. create innovative reliable, agile, and accountable banking
BNI’s Corporate Transformation’s main focus is to strive services.
for innovation in customer centric banking products and
services. For this reason, BNI initiated New Ways of Working Through these efforts, BNI recorded good loan and Third
(NWOW) as a new way of working that is leaner, agile, and Party Funds expansion.Total loans disbursed by BNI in 2023
customer centric. reached IDR695.1 trillion, an increase of 7.6% compared to
IDR646.2 trillion the previous year. With a DNA in corporate
NWOW is a new concept that harmonizes the formation of a banking with the advantage of an international network,
more agile, accountable and collaborative way of working, loans to BNI’s corporate segment was still the largest
with an organizational design with complete functions portion, reaching 53% of the total amount of loans disbursed
and without duplication, with coordination mechanisms as of December 31, 2023. In the corporate segment, BNI
and processes within the BNI organization, development focused on expanding to superior debtors who are key
of leadership-based competencies, and alignment of the industry players, and optimizing cooperative relationships
Directors’ Key Performance Indicators (KPIs). NWOW is with institutions.
a pathway that will bring the BNI organization towards
a customer centric way of working, which of course still Total customer deposits in 2023 stood at IDR810.7 trillion,
brings risk awareness and accountability throughout the an increase of 5.4% compared to IDR769.3 trillion the
value chain being developed. previous year.Total interest income in 2023 reached IDR61.5
trillion, an increase of 12.5% compared to IDR54.6 trillion
BNI is the only bank that has a special directorate to handle the previous year. Meanwhile, net profit, which is profit
transaction banking, namely the Digital & Integrated attributable to owners of the parent entity as a reference
Transaction Banking Directorate. Treasury and overseas profit for distribution of dividends to shareholders in 2023,
business functions are combined in the Wholesale & reached IDR20.9 trillion, an increase of 14.2% compared to
International Banking Directorate.These changes provided IDR18.3 trillion the previous year.
a new focus in managing BNI’s operations and business
through monitoring 3 dimension-based PMS performance
reports as stated in the new BNI segmentation.
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Fundamental ratios also reflected the success of the With its big vision as a national bank with global capacity,
strategies and strategic policies BNI had pursued. Gross BNI is supported by strategic alliances and a network
Non-Performing Loans (NPL) in 2023 stood at 2.1%, an of correspondent banks overseas. In addition, BNI also
increase compared to the previous year’s 2.8%. This continues to expand its service network from national to
NPL improvement was certainly an important factor in global coverage. By the end of 2023, BNI had 1,781 outlets,
BNI’s success in managing loan risk during the ongoing 13,390 ATMs, and 185,697 Branchless Banking agents (BNI
expansion. Likewise, the loan to deposit ratio (LDR) in 2023 Agen46) spread throughout Indonesia. In 2023, BNI also
was 85.8%, an increase compared to 84.3% the previous began to transition to developing flagship, digital first and
year.This shows that the Bank’s intermediary role is running thematic outlet formats offering a faster, unique and more
properly within the corridors regulated by Bank Indonesia. complete banking experience for customers. To support
financial inclusion, BNI Agen46 are spread across 35,500
Capital structure was also well maintained. BNI’s Minimum sub-districts/villages throughout Indonesia, including areas
Capital Requirement Ratio (KPMM) in 2023 was 22.0%, an categorized as Frontier, Remote and Disadvantaged (3T). In
increase compared to the previous year’s 19.3%. One of 2023, BNI Agen46’s transaction volume reached IDR59.92
the important points of strengthening this capital structure trillion with total transactions reaching 85.49 million.
cannot be separated from BNI’s success in increasing its
profitability. HUMAN CAPITAL MANAGEMENT
FROM LOCAL TO GLOBAL: BNI’s strategic policies involve its Human Capital (HC). In
SERVICE NETWORK DEVELOPMENT the transformation roadmap, strengthening HC was one of
the important stages in realizing the success of this strategy.
One of BNI’s important strengths is its wide network of After at the start of the transformation, BNI strengthened its
overseas offices located across the world’s business and HC as one of the steps, through blueprints, roadmaps and
financial centers. This business network makes it easy for talent pools, in 2023 BNI carried out its NWOW initiative
business and investment from Indonesia to overseas and to synergize all elements to form a new way of working
vice versa. This is in line with the mandate given by the that was more agile, accountable and customer-centric.
Indonesian Government to BNI to become a national bank
with global capacity, where BNI facilitates businesses, both To support this strategic policy, BNI carried out a
corporations and Small and Medium Enterprises (UKM) transformation with the theme RACE (Risk Culture, Agile,
exporters to enter the global market, as well as for serving Collaboration, & Execution Oriented), where in 2023 BNI
transaction and financial service needs for Indonesian launched a cultural transformation management framework
diaspora. that is expected to support the ongoing corporate
transformation, as seen below.
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Vision
To become the leading financial institution in
Strategy sustainable service and performance
BNI Strategic Objectives 2021-2025
Transformation Theme 2022-2025: RACE
Transformation
Theme 2022-2025:
RACE Risk Culture Agile Collaboration Execution
Oriented
AKHLAK
Core Values
Trustworthy Competent Harmonious Loyal Adaptive Collaborative
We, BNI people, define
We, BNI people, have the best
integrity as an essential We, BNI people, are
competence and character as
value in building trust committed to providing the
a basic attitude in conducting We, BNI people, are always
from all stakeholders, best service to customers
business activities, oriented proactive in innovating and
prioritizing the company’s to grow together and
Beliefs towards achieving superior
interests and carrying out build mutually beneficial
making improvements to
performance to make the generate optimal results.
business activities with the partnership relationships.
company a Market Leader.
principles of Good Corporate
Governance (GCG).
To ensure improved changes in behavior in line with core values and BNI Corporate Transformation, BNI prepared 6 (six)
BNI Cultural Programs to be implemented by all BNI Hi-Movers.
“Tiada Keputusan Tanpa Pertimbangan Risiko” Hi Prudent
Risk Culture
"TAKE CARE OF YOURSELF, REMIND YOUR
FRIENDS, TAKE CARE OF BNI" “Weekly Stand Up” Hi Talk
Agile “Proactive” Hi Agile
"AGILE AND ADAPTIVE"
Collaboration
“COLLABORATE AND OFFER INTEGRATED “Cross Functions Collaboration” Hi Collabs
SOLUTIONS”
“No Pending Item” Hi Action
Execution Oriented
“WORK UNTIL IT'S COMPLETE!”
“Coaching & Mentoring” Hi Coach
To ensure that BNI’s cultural transformation was internalized well, BNI formed the RACE Network team as a network of
BNI change agents tasked with internalizing the work culture transformation across all work units and business groups.
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By the end of 2023, BNI employed 27,570 people, of which The strategic policies as described above were implemented
52.1% were from Gen Y or millennials. With this large by all units as the main duties and functions of each unit.
gen composition, BNI has strong human capital that can As stated in the Board of Directors’ Work Guidelines and
grow sustainably, especially in welcoming the “Indonesian Regulations, the Board of Directors plays an active role in
Golden Generation 2045”. ensuring that each unit understands their main duties and
functions so that previously determined work plans can be
DIGITAL BANKING AS TODAY’S achieved. The Board of Directors also has a position as a
BANKING SOLUTION strategic decision maker, especially for matters that require
the highest level of decision making, from the aspects of
When managing its service network, BNI pays attention to product development, business, marketing and sales, to
effective and efficient distribution, as well as the transfer risk management and bank governance.
of customer banking transactions to digital channels,
especially BNI Mobile Banking that offers an easy, fast, All the strategies and strategic policies reported in the RBB
safe and comfortable transaction experience. Through become Key Performance Indicators (KPI), where the Board
the one stop solution digital financial services strategy, of Directors has a direct link to important achievements
BNI’s digital financial services are available to answer the in these KPIs. This encourages the direct involvement of
end to end needs of customers in the consumer & retail the Board of Directors in designing and formulating the
and business banking segments. The BNI digital services Bank’s strategic strategies and policies as well as the efforts
product champions are BNI Mobile Banking, BNI Direct needed to realize these designs and formulations until
and API. BNI Mobile Banking is now been used by more they are on target.
than 16 million individual customers, with its advantage
of complete transaction features and ease of use anytime PROCESSES CARRIED OUT BY THE
and anywhere. Meanwhile, for business customers, the BOARD OF DIRECTORS TO ENSURE
total number of BNIDirect users by the end of 2023 had STRATEGY IMPLEMENTATION
reached more than 147 thousand users. As a pioneer in
strengthening the digital payment ecosystem in Indonesia, As explained above, BNI has KPIs attached to each
BNI has an API (Application Programming Interface) service directorate function.To provide certainty that the strategies
that can facilitate partners in providing disbursements, and strategic policies can be implemented in accordance
collections, payments, account information and digital with planned targets, the Board of Directors is obliged to
account opening services. In 2023, BNI was also in the design and formulate the Bank’s strategic strategies and
process of transforming hibank, the result of the acquisition policies as stated in the RBB, as well as the efforts needed
of Bank Mayora, to become the first digital bank in Indonesia to realize these designs and formulations.
that focuses on the SME segment.
For this reason, the Board of Directors sends the necessary
THE BOARD OF DIRECTORS’ ROLE directives to all levels so that the designs and formulations
IN FORMULATING STRATEGIES are easier to apply. The BNI Corporate Transformation
AND STRATEGIC POLICIES emphasizes the importance of this, especially with the
NWOW strategy that was developed in 2023 in order to
Every year BNI prepares strategic policies in the Bank simplify business models and processes to make them
Business Plan (RBB) that is then reported to the Financial more agile, adaptive, accountable and add value.
Services Authority (OJK). The preparation of the RBB also
refers to the Corporate Plan prepared for the next 5 (five) In addition, the Board of Directors also plays an active
years with the main foundation being the established vision role in ensuring that all designs, formulations and targets
and mission. The Corporate Plan and RBB preparation is contained in the RBB are well understood and implemented
carried out by the Board of Directors with supervision and as expected. Top down and bottom up policies in the
direction provided by the Board of Commissioners. decision making process are developed according to
portions and perspectives, with the hope that innovations
can emerge from even the lowest levels, including the
involvement of committees and all supporting organs of
the Board of Directors. Of course, the Board of Directors
has full authority to ensure that every decision taken is in
accordance with applicable rules, and of course has an
orientation towards the desired goals.
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ACHIEVEMENT OF TARGETS IN 2023
The success of the strategies launched at the beginning of the year can be seen from the target achievement highlights
as shown below.
2023 Target
Subject 2023 Realization 2023 Target Achievement
(%)
Loan Disbursement (IDR-million) 695,085 715,558 97.1
Collection of Third Party Funds (TPF) (IDR-million) 810,730 818,276 99.1
Non Performing Loan (NPL) Gross (%) 2.1 2.3 93.3
Net Profit (IDR-million) 20,909 20,686 101.1
Return on Asset (ROA) 2.6 2.6 101.7
Return on Equity (ROE) Equity Based (%) 15.2 15.2 99.5
Net Interest Margin (NIM) (%) 4.6 4.6 98.5
Operating Expenses to Revenue (BOPO) (%) 68.4 69.6 98.3
Minimum Capital Adequacy Ratio (MCAR) (%) 22.0 20.7 105.9
As can be seen in the table above, details that can be found 1. BNI strives to improve service digitalization and
in the “Management Analysis and Discussion” chapter in comprehensive transaction innovation in order to be
this annual report, BNI’s business expansion target through able to provide added value and differentiation in the
lending and collecting TPF has been achieved quite well, industry.
especially with a foundation of healthy and quality assets 2. Focus on collecting deposits in current accounts and
through the realization of NPLs that is below the 2023 target. savings accounts that are transactional-based, through
transactional banking and digital banking capabilities.
The Company was also able to maintain expense and cost 3. Develop financial transaction solution capabilities to
ratios efficiently. Operating Expenses to Revenue (BOPO) increase cross selling.
was achieved below target. Furthermore, Net Interest
Margin (NIM) was soundly managed at the level of 4.6%. Prudent credit expansion accompanied by a focus on
This achievement produced good performance as reflected encouraging cross selling of savings products, especially
in profitability indicators, namely net profit, ROA, and ROE, current and savings accounts, as well as transaction
which were achieved at or exceeding the predetermined solutions and digital services, had encouraged the Company
targets. This shows BNI’s ability to set business growth to be capable of optimizing its business and intermediation
targets and manage strategic initiatives to achieve these functions optimally, amidst the challenges faced throughout
targets, including efficiency strategies that are continuously 2023. The strategies adopted by the Company in pursuing
implemented in order to create added value for profitability. credit growth in 2023 were:
1. Focus on expanding corporate and enterprise segments
BNI’s capital management strategy is reflected in the in targeted markets, which are the blue chip corporations
achievement of capital structure targets, namely the MCAR that are market leaders in their respective industries and
ratio in 2023 that was above the predetermined target. The the regional champions in each region. It is expected
MCAR target achievement was thanks to BNI’s improved that growth in the targeted markets will boost growth
performance throughout 2022 and 2023. in the commercial segment through optimizing the
value chain of these blue chip companies.
OBSTACLES, CHALLENGES AND SOLUTIONS 2. Expanding consumer credit through comprehensive
financial solutions and optimizing the business
As explained above, even though inflation is still quite low, ecosystem for customers from corporate and enterprise
BI interest rates are still experiencing an upward trend, segment.
namely reaching 5.75% in September 2023 and 6% at the 3. Implementing an end to end loan process to strengthen
beginning of October 2023. BI’s high interest rate policy risk management and improve risk culture.
is due to BI’s focus and efforts to maintain the stability of 4. Offering ecosystem business and financial solutions
the Rupiah exchange rate during global uncertainty. In the to institutional customers, Diamond Clients, prime
face of these conditions, BNI continues to provide loans to customers and selected universities.
customers with several focuses, including: 5. Increasing credit growth in the small segment with a
focus on export-oriented MSMEs through BNI Xpora
program and digital business through synergy with
subsidiaries.
6. Enhance wealth business through the development of
attractive investment services and products.
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IMPORTANT CHANGES THAT The Indonesian economy itself in 2024 is predicted to still
OCCURRED IN THE BANKS AND THE record a solid performance, especially with the General
BANK’S BUSINESS GROUPS Election (Pemilu) that will encourage quite large public
and Government spending. It is hoped that these positive
In 2023, BNI carried out a series of corporate actions that national economic projections will provide encouragement
will impact several changes both within BNI itself and within for the growth of the national banking industry.
the business group, including:
1. (Stock Split) Management’s priority focus in developing BNI is healthy
Based on the results of the Extraordinary General and quality asset growth, as the most fundamental factor
Meeting of Shareholders (GMS) decision on September in a sustainable banking business. For this reason, BNI
19, 2023, where shareholders approved the corporate has formulated several strategic plans for 2024, including
action of a stock split with a split ratio of 1:2.This step was business expansion in the top tier by strengthening risk
taken to increase demand for BNI shares by expanding management; improving the Digital Platform to optimize
the investor base. This share split became effective on transactional banking and cross selling with a focus on
October 6, 2023 during trading on the Indonesia Stock continuously increasing AUM, CASA and FBI; strengthening
Exchange. Due to this corporate action, the number of business networks through optimizing outlets; development
BNI shares has changed, from 18,648,656,458 shares of international business networks to support global market
to 37,297,312,920 shares. penetration; strengthening Human Capital and information
2. Additional capital to the subsidiary, PT BNI Multifinance technology to increase productivity; as well as optimizing
Throughout 2023, BNI increased the capital to its the BNI business group, especially by strengthening the
subsidiary, PT BNI Multifinance (“BNI Finance”) 2 position and performance of subsidiaries.
(two) times. First, on August 21, 2023, BNI carried out
additional capital of IDR400 billion to BNI Finance, With these strategic steps, in 2024 BNI projects loan growth
with BNI’s share ownership in BNI Finance increasing in the range of 9% to 11% with Gross NPL below 2% in
to 99.997% from the previous 99.994%. Second, on 2024. In line with that, TPF is expected to grow 7% to 9%.
December 12, 2023, BNI again carried out additional The projected quality balance sheet growth is expected to
capital of IDR400 billion to BNI Finance, with BNI’s have a positive impact on BNI’s profitability, so that BNI’s
share ownership in BNI Finance increasing to 99.998% net interest margin in 2024 is projected to be above 4.5%,
from the previous 99.997%. The additional capital in and Equity Based Return On Equity (ROE) will be in the
BNI Finance is intended to strengthen BNI Finance’s range of 15% to 16%.This projected increase in profitability
capital and support the transformation that BNI Finance is expected to strengthen capital as reflected in the MCAR
is currently undertaking to focus on the consumer ratio of above 20%. This positive projection is expected to
segment. provide BNI with the ability to meet the business expansion
and investment needs of the BNI group.
BNI BUSINESS PROSPECTS
AND PLANS FOR 2024 BANK GOVERNANCE IMPLEMENTATION
DEVELOPMENTS
Following on from the world economic conditions in 2023
that were quite big challenges, the global economic situation Holding the status as a public company as well as a state-
in 2024 is predicted to still not be in a position to present owned banking company, BNI has a high obligation to carry
fundamental factors that will provide encouragement to rise out operations and business management in compliance
exponentially. A slowdown in the world economy will still with applicable laws and regulations, which are then outlined
occur, where high inflation will still loom large, especially in the implementation of Good Corporate Governance
when compared to inflation before the COVID-19 pandemic. (GCG). Applying GCG principles becomes a reference for
responsible decision making, avoiding conflict of interest,
Inflation and global interest rate policies will certainly have optimizing performance, and increasing accountability.
an impact on Indonesia. BI’s benchmark interest rate is Particularly with the issuance of SOE Ministerial Regulation
projected to remain measurable until the end of 2024, No. PER-2/MBU/03/2023 on Guidelines for Governance and
with predictions that a decrease will occur in the second Significant Corporate Actions of State-Owned Enterprises,
semester of 2024 as inflation pressure tends to decline, BNI implements GCG with high standards, aiming to satisfy
followed by a potential cut in the Federal Funds Rate (FFR) shareholders aspirations.
from the United States central bank.
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Management continues to create, develop and improve 2. Asean Corporate Governance Scorecard (ACGS)
itself in accordance with GCG principles so as to improve assessment by the Indonesia Institute for Corporate
the quality of GCG implementation within BNI. So that the Directorship (IICD)
application of GCG principles and practices can achieve The ACGS assessment results for 2023 showed that
its ultimate goal, namely becoming a part of its values BNI’s overall weighted score was 108.39 points and
and culture, BNI considers it important to socialize GCG is included in the title “Leadership in Corporate
to all BNI Hi-Movers. BNI regularly socializes GCG to Governance” or Level 5, meaning that BNI’s overall
employees and all stakeholders, through appeals, meetings, GCG practices has adopted international standards.
sharing sessions, webinars, delivering modules/materials, This achievement increased compared to the previous
training, signing integrity pacts, as well as outdoor media year, where BNI’s score was 106.02 also with the title
and publications in mass media. It is hoped that this GCG “Leadership in Corporate Governance”;
socialization will provide an understanding and awareness 3. Corporate Governance Perception Index (CGPI)
of all stakeholders, especially BNI Hi-Movers, to implement assessment by The Indonesian Institute for Corporate
business ethics within BNI. Governance (IICG)
The 2023 CGPI assessment results gave BNI a score
To comprehensively monitor the GCG implementation, BNI of 92.26, and it was included in the title “The Most
carries out both compliance and voluntary assessments. Trusted Companies”, an increase compared to the 2022
As we have done in previous years, in 2023 BNI carried CGPI assessment of 91.66 also with the title “The Most
out several assessments, including a self-assessment Trusted Companies”.
that is included in measuring the Bank’s Health Level, an
assessment of the Asean Corporate Governance Scorecard These three assessments, as well as other compliance
(ACGS) by the Indonesia Institute for Corporate Directorship assessments, provide input for BNI to continue making
(IICD), and by following the Corporate Governance future improvements and strengthen the implementation
Perception Index (CGPI) from The Indonesian Institute for of GCG principles better.
Corporate Governance (IICG), and achieved the following:
1. Self-assessment assessment included in measuring In particular, management has emphasized integrity as the
the Bank’s Health Level main key in implementing GCG principles and practices.
This assessment was carried out based on OJK Management has a high commitment to continuing to
Regulation No. 21/POJK.04/2015 concerning cultivate a culture of integrity as an inseparable part of
Implementation of Public Company Governance developing HC competency and capacity. Only with integrity
Guidelines; and OJK Regulation No. 4/POJK.03/2016 will the BNI organization be able to achieve its vision.
concerning Assessment of the Health Level of
Commercial Banks; OJK Regulation No. 17 of 2023 RISK MANAGEMENT AND
concerning Implementation of Governance for BANK HEALTH LEVEL
Commercial Banks; OJK Circular No. 32/SEOJK.04/2015
concerning Corporate Governance Guidelines; The The Bank’s Health Level is the result of an assessment of the
OJK Circular No. 13/SEOJK.03/2017 concerning Bank’s condition based on risk (Risk Based Bank Rating), and
Governance Implementation for Commercial Banks. the Bank’s performance. The Bank Health Level is a means
The self-assessment carried out by BNI is carried out for BNI to identify problems early, develop and implement
periodically every semester, in June and December each corrective actions, and determine future business strategies.
year. In both the first semester of 2023 and the second
semester of 2023, the self assessment result showed BNI’s Health Level Assessment refers to OJK Regulation
a composite score of rank 2 with a stable trend, where No. 4/POJK.03/2016 concerning Assessment of the Health
this result reflects that BNI management has generally Level of Commercial Banks, as well as OJK Circular No.
implemented good governance. This is reflected in the 14/SEOJK.03/2017 concerning Assessment of the Health
adequate fulfillment of Governance principles. In the Level of Commercial Banks, which are carried out based
event that there are weaknesses in the application of on the following 4 (four) factors:
Governance principles, in general these weaknesses 1. Risk Profile
are not significant and can be resolved with normal Risk Profile Assessment are carried out by assessing
actions by Bank management. The results of this self- the Inherent Risk (risk inherent in BNI activities) and the
assessment are also one of the points in the assessment Quality of Risk Management Implementation (KPMR)
of the Bank’s Health Level; for the 8 (eight) risk types.
2. Good Corporate Governance
The Corporate Governance Assessment is an
assessment of the quality of BNI management in
applying the Corporate Governance principles.
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3. Earnings
Assessment of the profitability factor including evaluations of profitability performance, profitability sources, earnings
sustainability, and profitability management.
4. Capital
Assessment of capital factors including evaluation of capital adequacy and capital management adequacy. In assessing
capital adequacy, BNI links capital adequacy to its risk profile.
The Bank Health Level Assessment is reported to the regulator (OJK) every 6 (six) months in June and December.The results
of the BNI Bank Health Level assessment for the period December 31, 2023 were in the “Healthy” rating, meaning that:
1. The Bank’s condition is generally healthy, so it is considered capable of facing significant negative impacts from
changes in business conditions and other external factors.
2. The rating of the assessment factors (Risk Profile, Governance, Profitability and Capital) is generally good. If there
are weaknesses, then in general these weaknesses are less significant.
BNI’s risk profile, as one of theTKB assessment factors for the period December 31, 2023, was ranked 2 (Low to Moderate).
As a result of BNI’s risk profile being at the Low to Moderate level and according to calculations using the Internal Capital
Adequacy Assessment Process (ICAAP), the minimum CAR ratio according to the risk profile is 9.8%. If you add buffer
capital, namely Conservation Buffer 2.5%, Countercyclical Buffer 0.0% and Capital Surcharge 1.5%, then BNI’s MCAR
ratio limit is 13.8% and has exceeded the specified minimum limit.
COMMITTEES UNDER THE BOARD OF DIRECTORS PERFORMANCE ASSESSMENT
In carrying out its management duties, the Board of Directors established several supporting organs in accordance with
BNI’s business needs and regulatory provisions to create operational effectiveness and efficiency.
Board of Directors Supporting Committee
Credit Integrated Risk
Credit Policy Business Asset & Liability Management
Committee Committee Committee Committee Committee
Risk Management Performance Technology Subsidiary Company
Human Capital
and Anti-Fraud Management Management Committee
Committee
Committee Committee Committee
For 2023, the Board of Directors’ performance assessments As one of the pioneers of Green Banking in Indonesia, BNI
for its Supporting Committees showed that had carried is committed to internalizing the principles of sustainable
out their respective functions well, in accordance with finance in its values, work culture, strategy, operational
the objectives of their formation. This is based on each policies, and operational systems and procedures. BNI has
Committee fulfilling its duties of in accordance with the implemented an integrated strategy covering all aspects of
Committee Charter, their competencies and skills, and their Environmental, Social and Governance (ESG) performance,
level of attendance at Committee meetings. as well as provided a positive impact on stakeholders and
the environment in achieving sustainability commitments.
REALIZING SUSTAINABLE FINANCE BNI also has 5 (five) sustainability pillars as a form of
INITIATIVES AND IMPLEMENTING commitment to sustainability.The sustainability pillars are
ENVIRONMENTAL, SOCIAL AND structured based on BNI’s mission to providing excellent
GOVERNANCE (ESG) AS WELL AS service and digital solutions to all customers as the main
COMMITMENT TO SOCIAL AND business partner of choice, strengthening international
ENVIRONMENTAL RESPONSIBILITY services to support the needs of global business partners,
increasing superior investment value for investors, creating
The banking intermediation function not only creates a large the best conditions for employees as a place of pride to
business potential, but also creates a big responsibility for work and achieve, increasing awareness and responsibility
BNI to realize the sustainable finance expected to provide for the environment and society, becoming a reference for
a domino effect for the implementation of sustainability implementing compliance and good corporate governance
in other industries. in the industry.
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The application of sustainable finance principles is To implement Social and Environmental Responsibility
integrated into BNI’s fundamental business. To strengthen (“SER”), BNI has developed an SER agenda with the aim
capital, in 2021 BNI issued Environmentally Friendly Bonds of growing together with Indonesian society, and fulfilling
(Green Bond) I 2022 worth IDR5 trillion on the Indonesian compliance with Minister of SOEs Regulation No. PER-1/
Stock Exchange, with an “idAAA” rating from PEFINDO, MBU/03/2023 concerning Special Assignments and Social
and a Second Party Opinion provided by Sustainalytics. In and Environmental Responsibility Programs for SOEs.
its loan business, BNI is increasing its sustainable portfolio
and financing for environmentally friendly sectors. BNI When preparing strategies and program activities for
introduced Sustainability Linked Loans (SLL), where implementing SER, BNI refers to the concept of sustainable
one of the main aspects of SLL is providing incentives finance. In its implementation, BNI strives to provide a
for customers who can improve the ESG aspects in their positive influence to improve the social conditions of the
business. As well as the SLL scheme, BNI has also prepared community and society, especially those connected to BNI,
a special financing scheme with attractive pricing for green by implementing the appropriate SER program that has a
financing. BNI really hopes that these green financing long-lasting impact.
initiatives will create a positive domino effect on the
implementation of sustainability in other industrial sectors. SER implementation strategies and activity programs are
also prepared to always respect and consider stakeholder
When managing its operations, BNI proactively makes expectations as well as comply with applicable laws and be
efforts to reduce the emissions produced. Monitoring consistent with international behavioral norms. In addition,
emissions from operations and business enhances BNI’s BNI avoids implementing SER programs that simply aim to
contribution in realizing the Indonesian Government’s big improve BNI’s image in the eyes of society and the business
agenda of net zero emissions by 2060. environment. Understanding the objectives of the SER
programs being implemented, and their expected positive
impact, is BNI’s main goal in achieving an ideal, objective,
on target and sustainable SER in line with the concept of
sustainable finance to achieve sustainable development
goals.
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To evaluate and strengthen the implementation of sustainability on an ongoing basis, BNI conducted an assessment
of the ESG using Morgan Stanley Capital Investment (MSCI), with an “A” rating result. This result is one of the highest
ratings among large banks in Indonesia.
CHANGES IN THE BOARD OF DIRECTORS’ COMPOSITION AND NOMENCLATURE
During 2023, the Board of Directors’ composition did not change. However, there were changes in the position nomenclature
for members of the Board of Directors based on the Annual GMS decision dated March 15, 2023, with the following details.
Changes in BNI Board of Directors’ Nomenclature
Before After
Treasury Director Retail Banking Director
Consumer Banking Director Digital and Integrated Transaction Banking Director
Corporate and International Banking Director Wholesale and International Banking Director
Chronology of Changes in Board of Directors’ Nomenclature and Assignments in 2023
Period January 1, 2023 to Periode March 15, 2023 to
Information
March 15, 2023 December 31, 2023
Royke Tumilaar Royke Tumilaar
-
(President Director) (President Director)
Adi Sulistyowati Adi Sulistyowati
-
(Vice President Director) (Vice President Director)
Novita Widya Anggraini Novita Widya Anggraini
-
(Finance Director) (Finance Director)
Corina Leyla Karnalies
Corina Leyla Karnalies Transfer of assignment approved through the
(Digital and Integrated Transaction Banking
(Consumer Banking Director) Annual GMS decision on March 15, 2023.
Director)
Sis Apik Wijayanto Sis Apik Wijayanto Transfer of assignment approved through the
(Institutional Banking Director) (Enterprise & Commercial Banking Director) Annual GMS decision on March 15, 2023.
David Pirzada David Pirzada
-
(Risk Management Director) (Risk Management Director)
Silvano Winston Rumantir
Silvano Winston Rumantir Transfer of assignment approved through the
(Corporate & International Banking
(Wholesale & International Banking Director) Annual GMS decision on March 15, 2023.
Director)
Ronny Venir Ronny Venir
-
(Network & Services Director) (Network & Services Director)
Muhammad Iqbal
Muhammad Iqbal Transfer of assignment approved through the
(Enterprise & Commercial Banking
(Institutional Banking Director) Annual GMS decision on March 15, 2023.
Director)
Putrama W. Setyawan Putrama W. Setyawan Transfer of assignment approved through the
(Treasury Director) (Retail Director) Annual GMS decision on March 15, 2023.
Mucharom Mucharom
-
(Human Capital & Compliance Director) (Human Capital & Compliance Director)
Toto Prasetio Toto Prasetio
-
(Technology and Operations Director) (Technology and Operations Director)
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Thus, the Board of Directors’ membership composition as of December 31, 2023 was as follows.
BNI’s Board of Directors’ Composition as of December 31, 2023
Name Position Basis of Appointment Period in Office Effective Date*
2020-2025 November 19,
Royke Tumilaar President Director EGMS Decision dated September 2, 2020
(First Period) 2020
Vice President 2020-2025 November 5,
Adi Sulistyowati EGMS Decision dated September 2, 2020
Director (Second Period) 2020
Novita Widya 2020-2025 November 19,
Finance Director EGMS Decision dated September 2, 2020
Anggraini (First Period) 2020
Digital and Integrated
Corina Leyla 2020-2025
Transaction Banking AGMS Decision dated February 20, 2020 June 25, 2020
Karnalies (First Period)
Director
Enterprise and
Sis Apik 2020-2025
Commercial and AGMS Decision dated February 20, 2020 June 25, 2020
Wijayanto (First Period)
Banking Director
Risk Management 2020-2025 November 30,
David Pirzada EGMS Decision dated September 2, 2020
Director (First Period) 2020
Wholesale and
Silvano Winston 2020-2025 November 30,
International Banking EGMS Decision dated September 2, 2020
Rumantir (First Period) 2020
Director
Network & Services 2020-2025 November 5,
Ronny Venir EGMS Decision dated September 2, 2020
Director (First Period) 2020
Muhammad Institutional Banking 2020-2025 November 19,
EGMS Decision dated September 2, 2020
Iqbal Director (First Period) 2020
Putrama W. Direktur Retail 2022-2027 December 19
EGMS Decision dated August 31, 2022
Setyawan Banking (Second Period) 2022
Human Capital and 2022-2027 December 19,
Mucharom EGMS Decision dated August 31, 2022
Compliance Director (First Period) 2022
Technology & 2022-2027
Toto Prasetio EGMS Decision dated August 31, 2022 January 31, 2023
Operations Director (First Period)
*) The Board of Directors effectively took office after receiving OJK approval for the Fit and Proper Test. This is in accordance with OJK Regulation No. 27/ POJK.03/2016 dated
July 22, 2016 concerning Fit and Proper Test for Main Parties of Financial Services Institutions.
As of December 31, 2023 until the signing of this annual report, there were no changes to the structure and composition
of the Board of Directors.
APPRECIATION
Following all the successes achieved in 2023, the Board of Directors would like to express its gratitude to God Almighty,
and would like to thank all of its shareholders and investors for the trust they have given. The Board of Directors also
expresses respect and gratitude to the Board of Commissioners for their direction and strategic partnership in managing
BNI’s operations and business. Likewise, the Board of Directors would like to thank the regulators, customers, suppliers
and business partners for the cooperation that has been created.
To all BNI Hi-Movers, the Board of Directors would like to express its highest appreciation for the dedication given. All
of your achievements will form the basis for BNI to optimize its potential and achieve its best performance in the future.
Jakarta, February 7, 2024
On behalf of the Board of Directors of PT Bank Negara Indonesia (Persero) Tbk,
ROYKE TUMILAAR
PRESIDENT DIRECTOR
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Board of Directors’ Responsibility
Statement for the 2023 Annual Report of
PT Bank Negara indonesia (Persero) Tbk
We the undersigned, Board of Directors of PT Bank Negara Indonesia (Persero) Tbk hereby declare that we have
reviewed and approved the 2023 Annual Report of PT Bank Negara Indonesia (Persero) Tbk and declare that all
information in the Annual Report is presented in its entirety, and that we take full responsibility for the correctness of
the contents of this Annual Report.
This statement is hereby made in all truthfulness.
Jakarta, February 7, 2024
Board of Directors
Royke Tumilaar
President Director
Adi Sulistyowati
Vice President Director
Novita Widya Anggraini Corina Leyla Karnalies Sis Apik Wijayanto
Finance Director Digital & Integrated Transaction Enterprise & Commercial
Banking Director Banking Director
David Pirzada Silvano Winston Rumantir Ronny Venir
Risk Management Director Wholesale & International Network & Services Director
Banking Director
Muhammad Iqbal Putrama Wahju Setyawan Mucharom
Institutional Banking Director Retail Banking Director Human Capital & Compliance Director
Toto Prasetio
Technology & Operations Director
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Practices Governance Responsibility Commitment Statements
Board of Commissioners’ Responsibility
Statement for the 2023 Annual Report of
PT Bank Negara Indonesia (Persero) Tbk
We the undersigned, Board of Commissioners of PT Bank Negara Indonesia (Persero) Tbk hereby declare that we
have reviewed and approved the 2023 Annual Report of PT Bank Negara Indonesia (Persero) Tbk and declare that all
information in the Annual Report is presented in its entirety, and that we take full responsibility for the correctness of
the contents of this Annual Report.
This statement is hereby made in all truthfulness.
Jakarta, February 7, 2024
Board of Commissioners
Pradjoto
President Commissioner/Independent Commissioner
Pahala Nugraha Mansury
Vice President Commissioner
Sigit Widyawan Askolani Asmawi Syam
Independent Commissioner Commissioner Independent Commissioner
Susyanto Iman Sugema Septian Hario Seto
Commissioner Independent Commissioner Independent Commissioner
Erwin Rijanto Slamet Fadlansyah Lubis Robertus Billitea
Independent Commissioner Commissioner Commissioner
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 69
Page 70
Page 71
72 General Company Information 145 Shareholder Structure and Composition
75 Company Identity Information on the Company’s Majority and Controlling
152
Shareholder
76 Brief History of the Company
158 List of Subsidiaries and/or Associated Entities
78 Vision, Mission, and Corporate Culture
160 Corporate Group Structure
82 Lines of Business
170 Share Listing Chronology
Company Operational Areas Organizational Structure
86 172 Other Securities Listing Chronology
Company
88 Association Membership List Information on Public Accountants, Public Accounting Firms,
174
and Networks/Associations/Alliances
90 Board of Directors’ Profiles
186 Capital Market Supporting Institutions and/or Professionals
92 Board of Commissioners’ Profiles
186 Information Available on The Website
106 Senior Executive President Profiles
188 Awards and Certification
121 Executive Officers Profiles
191 Penghargaan dan Sertifikasi
126 Employee Demographics
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General Company
Information
Company Name Share Ownership
PT Bank Negara Indonesia (Persero) Tbk • Republic of Indonesia 60%
• Public 40%
Nickname
BNI Number of Employees
• 2022: 27,170 people
Domicile • 2023: 27,570 people
Jakarta
Office Network 2023
Information on Name Change • 1 Head Office
There were no name changes in the 2023 fiscal year • 17 Region Offices
• 195 Branch Offices
Business Activity • 1.586 Sub-Branch Offices
Banking and Other Supporting Business Activities • 19 Commercial Business Centers
• 26 Retail Productive Business Center
Business Segments • 12 Consumer Credit Processing Centers
• 13.390 ATM/CRM (including 10 ATM/CRM Overseas)
• Wholesale & International Banking
• Treasury • 226 BNI DigiCS
• Institutional Banking • 6 Subsidiaries
• Enterprises & Commercial Banking • 10 Overseas Office Networks
• Retail Banking
• Head Office More detailed information on the office network can be found in the
• Subsidiaries Business Areas Map, and Names and Addresses of Subsidiaries,
Associated Entities, Branch Offices, Overseas Representative
Date of Establishment Offices, and Regional Offices in the Company Profile Chapter in this
Annual Report.
July 5, 1946
BNI Agen46
Legal Basis of Establishment
152.742 (2020)
• Government Regulation in Lieu of Law No. 2 in 1946 157.632 (2021)
• Republic of Indonesia State Gazette No. 70 of 1968 164.979 (2022)
• UU No. 17 of 1968 concerning Bank Negara Indonesia 1946 185,697 (2023)
• PP No. 19 of 1992 concerning Adjustment of the Legal Form of
Bank Negara Indonesia to Become a Limited Liability Company
(Persero)
Subsidiaries
• PT BNI Multifinance
Total Assets 2023 • PT BNI Sekuritas
IDR1,086.66 trillion • PT BNI Life Insurance
• BNI Remittance Ltd.
Authorized Capital • PT Bank Hibank Indonesia
IDR15,000,000,000,000 • PT BNI Modal Ventura
Issued and Fully Paid Capital Gratification & Anti-Bribery Complaints
IDR9,054,806,974,125 Compliance Information Management System (CIMS) at
www.cims.bni.co.id
Listing Date on Indonesia Stock Exchange
Whistleblowing System
November 25, 1996
Telephone : 021 - 57853377
Website : http://bni-transparan.tipoffs.com.sg
Ticker Code Email : bni-transparan@tipoffs.com.sg
BBNI Letter : BNI Transparan, P.O. BOX 2646, JKP 10026
SMS/WhatsApp : 0811-970-1946
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AKSES TERHADAP PERUSAHAAN TERMASUK KANTOR
CABANG ATAU KANTOR PERWAKILAN
Regional Office 10
OFFICE NETWORK REGIONAL OFFICES Jl. Jend. Gatot Subroto No. 55
Jakarta Pusat 10210
Head Office Regional Office 01 Tel : (021) 2500025, 5706057 (Hunting)
Grha BNI Jl. Pemuda No. 12, Lantai 4 Medan 20151 Fax : (021) 2500033
Jl. Jenderal Sudirman Kav. 1 Tel : (061) 4567110, 4567002
Jakarta 10220 Fax : (061) 4567105, 4515754 Regional Office 11
Telepon : (62-21) 251 1946 Jl. Dotulolong Lasut No. 1 Manado 95122
E-mail : bni@bni.co.id Regional Office 02 Tel : (0431) 868019, 862777
PO Box 1946 Jl. Dobi No. 1, Lantai 3 Padang 25138 Fax : (0431) 851852/865458
Tel : (0751) 890005-08
Website Fax : (0751) 890010-11 Regional Office 12
www.bni.co.id Jl. Lada No. 1 Jakarta 11110
Regional Office 03 Tel : (021) 6901131- 2601090,2601148
Company Contact Jl. Jend. Sudirman No. 132 Fax : (021) 6901131, 6901182,2601165,
Corporate Secretary Palembang 30126 2601179
Okki Rushartomo Tel : (0711) 361961-65, 321046
Grha BNI Lantai 24 Fax : (0711) 361966, 374160 Regional Office 14
Jl. Jenderal Sudirman Kav. 1 Gedung BNI Kantor Wilayah Jakarta BSD,
Jakarta 10220 Regional Office 04 Lt.7 Kav. Sunburst Lot.1-5
Jl. Perintis Kemerdekaan No. 3 Jl. Pahlawan Seribu Lengkong Gudang
E-mail: corporate.secretary@bni.co.id
Bandung 40117 BSD City Kota
Tel : (022) 4240431-39, 4240534 Tangerang Selatan, Banten.
Investor Relations Fax : (022)4240432-4214926-4213107 Tel : (021) 80826860
Investor Relations Division
Fax : (021) 29514074
Astra Tower 32nd floor Regional Office 05
Jl. Jenderal Sudirman Kav. 5-6 Jl. Letjen. M.T. Haryono No. 16 Regional Office 15
Jakarta 10220 Semarang 50122 Gedung Jatinegara 88 Office
Telephone: (62-21) 86656800 Tel : (024) 3556747, 3556746 Jl. Jatinegara Timur No.88
E-mail: HYPERLINK “mailto:ir@bni.co.id” Fax : (024) 3547686, 3520636 Jakarta Timur 13310
ir@bni.co.id
Tel : (021) 22898972
Regional Office 06 Fax : (021) 22898972
Call Center Jl. Jend. A. Yani No. 286 Gedung Graha
24 hour service BNI Call 1500046 Pangeran Lt. 3-4 Surabaya 60292 Regional Office 16
Service Contact from Overseas: Tel : (031) 8292820 - 26 Jl. Kelapa II Entrop, Kota Jayapura
+62-21-30500046 Fax : (031) 8292805, 8292841 Papua 99224
Tel : (0967) 5355311, 522354
Information Access Regional Office 07 Fax : (0967) 533316
Media Sosial: Jl. Jend. Sudirman No. 1 Lt.3
X: @BNI Makassar 90115 Regional Office 17
Facebook: BNI Tel : (0411)3620355-56,3621926 Jl. Trikora No. 1 Yogyakarta 55122
Instagram: @bni46 Fax : (0411) 3619562, 3625395 Tel : (0274) 376287
Fax : (0274) 2872414
Regional Office 08
Jl. Raya Puputan Renon No. 27 Regional Office 18
Lantai 2, Renon Denpasar 82265 Jl. Jend. Basuki Rahmat No. 75 - 77
Tel : (0361) 263304 - 08 Malang 65179
Fax : (0361) 227874, 263319 Tel : (0341) 3611945-47
Fax : (0341) 324565, 354767
Regional Office 09
Jl. Lambung Mangkurat No. 30
Banjarmasin 70111
Tel : (0511) 3353689, 3357063
Fax : (0511) 3354409, 3357066
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OVERSEAS BRANCH OFFICES SUBSIDIARIES
SINGAPORE OVERSEAS OFFICE PT BNI Multifinance
30 Cecil Street #01-01 & #17-01/08 Graha Binakarsa Lantai 11 Lot. E-F dan Lantai 12
Prudential Tower Singapore 049712 Jalan HR. Rasuna Said Kav. C-18, Kuningan
Telp : +65 6225 7755 Jakarta Selatan 12940
Fax : +65 6225 4757 Hotline : (021) 2519 5646
Website : www.bnimultifinance.co.id
HONG KONG OVERSEAS OFFICE
G/F Far East Finance Center, 16 Harcourt Road, PT BNI Sekuritas
Admiralty, Central Hong Kong Sudirman Plaza Indofood Tower Lantai 16
Telp : +852 25299871, 28618600 Jl. Jend. Sudirman Kav. 76-78 Jakarta 12910
Fax : +852 28656500 Telp/Call Center : (021) 2554 3946
Faks : (021) 5793 5831
TOKYO OVERSEAS OFFICE Email : customercare@bnisekuritas.co.id
Nurihiko Building South Tower 1st & 9th Floor Website : www.bnisekuritas.co.id
2-10-2 Kyobashi, Chuo-ku, Tokyo 104-0031, Japan customer care : 14016
Telp : +81 3 5579 9990
Fax : +81 3 3561 3331 PT BNI Life Insurance
Centennial Tower Lantai 9
LONDON OVERSEAS OFFICE Jl. Gatot Subroto Kav. 24-25 Jakarta 12930
30 King Street, London EC2V 8AG United Kingdom Telp : (021) 2953 9999
Telp : +44 20 7776 4646 Faks : (021) 2953 9998
Fax : +44 20 7776 4699 Website : www.bni-life.co.id
Email : care@bni-life.co.id
NEW YORK OVERSEAS OFFICE Call Center : 1-500-045
One Exchange Plaza 5th Floor,
55 Broadway New York NY. 10006 USA BNI Remittance Ltd.
Telp : +1 212 943 4750 BNI Remittance Limited Flat/RM5 on GF,
Fax : +1 212 344 5723 No. 1-7 Keswick Street, Causeway Bay Hong Kong
Telp : +852 28908082
SEOUL OVERSEAS OFFICE Fax : +852 28908182
The Korea Chamber of Commerce & Industry (KCCI)
Building 2nd & 5th Floor 39. PT Bank Hibank Indonesia
Sejongdaero, Jung-gu, Seoul, South Korea 04513 Jl. Tomang Raya Kav. 21-23, Jakarta 11440
Telp : +82 2 6050 1932/1946 Telp : (021) 5655287, 5655288
Fax : +82 2 6050 1929 Fax : (021) 5655277
Website : www.hibank.co.id
OVERSEAS SUB-BRANCH OFFICES Email : customercare@hibank.co.id
Call Center : (021) 56966954
OSAKA SUB BRANCH OFFICE
Tatsuno Honmachi Building 3th Floor PT BNI Modal Ventura
3-5-2 Honmachi Chuo-ku Osaka, 541-0053, Japan BNI Tower 2nd Floor
Tel : +81 6 4963 2186 Jl. Pejompongan Raya No.7, Bendungan Hilir,
Fax : +81 6 4963 2486 Tanah Abang, Central Jakarta 10210
Website : HYPERLINK “http://www.bniventures.co.id”
REMITTANCE CENTER www.bniventures.co.id
Lucky Plaza
#02-02, 304 Orchard Road
Singapore 238863
Tel : +65 6838 1545
City Plaza
#01-100/101, 810 Geylang Road Singapore 409286
Tel : +65 6745 1946
REPRESENTATIVE OFFICE
Representative Office Amsterdam
World Trade Center (WTC) Amsterdam, Tower C, 12th Floor,
Strawinskylaan 1251, 1077 XX Amsterdam
Tel : +31 618832758
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Company
Identity
The Slogan “Melayani Negeri, Kebanggaan Bangsa” means
“Serving the Country, the Pride of the Nation”, and is the
Bank’s philosophy and vision to deliver a high impact that can
be felt by all Indonesian people.
As the first state bank in Indonesia that was established on July 5, 1946, and popularly known
as BNI 46, the number 46 is chosen as the BNI Logo to further strengthen the corporate
signature as a state-owned bank that has been in operation for 77 years. The color scheme
in the BNI 46 logo is dominated by orange, symbolizing the spirit of BNI that continues to
move forward to compete and be agile in capturing business opportunities in the digital
era, so as to become a leading digital financial institution. Orange also illustrates the new
passion, in which BNI always innovates continuously to serve all segments of Indonesian
people. In addition, orange also conveys the message that BNI has a strong belief to
achieve expectations and always shine throughout time. Meanwhile, the turquoise color
on the BNI logo reflects the strength, authority and stability of BNI, as well as implies a
unique and modern image.
Since 2021, BNI has established a value proposition as a provider of digital-based integrated
financial solutions with international excellence. As a comprehensive and trusted Digital
Financial Institution, BNI will continue to provide digital innovation experiences, both in
terms of corporate and consumer banking, for people throughout the country as well as
overseas.
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Brief History
of the Company
PT Bank Negara Indonesia (Persero) Tbk or BNI always prioritizes the core values of Amanah
(Trustworthy), Kompeten (Competent), Harmonis (Harmonious), Loyal (Loyal), Adaftif (Adaptive)
and Kolaboratif (Collaborative) (AKHLAK) as well as the Risk, Culture, Agile, Collaboration and
Execution Oriented (RACE) transformation program to improve performance optimally. Apart
from that, BNI also applies Principle 46 as a work culture with four cultural values, namely
Professionalism, Integrity, Customer Orientation and Continuous Improvement. Through this
spirit, BNI will continue to strengthen its efforts to become a financial institution that provides
superior service and sustainable performance.
PT Bank Negara Indonesia (Persero) Tbk (hereinafter In 1965, through Presidential Decree No. 17 of 1965
referred to as “BNI” or “Bank”) was officially established concerning the integration of State Commercial Banks and
by the Government of the Republic of Indonesia on July 5, BankTabungan Pos into a single bank, BNI again underwent
1946 through Government Regulation in Lieu of Law No. a name change to “Bank Negara Indonesia Unit III”.
2 of 1946 concerning the Establishment of Bank Negara
Indonesia (BNI), referred to as the 1946 BNI Law dated July In 1968, through Law No. 17 of 1968, which specifically
5, 1946.Through this Regulation, BNI, which was previously regulated the business activities of Bank Negara Indonesia,
named “Poesat Bank Indonesia” as a foundation legal it stipulated that the official name “Bank Negara Indonesia
entity, officially became “Bank Negara Indonesia” and Unit III” be changed to “Bank Negara Indonesia 1946”.
carried out its functions as a circulation/central bank and Through this law, BNI received a mandate to improve the
a commercial bank. people’s economy and participate in national development.
As a circulation/central bank, BNI had the sole right to In 1992, through Government Regulation No. 19 of 1992
regulate the issuance and circulation of Oeang Republik dated April 29, 1992 concerning the Adjustment of the Legal
Indonesia (ORI) within the boundaries of the territory of Form of Bank Negara Indonesia 1946 to become a Limited
the Republic of Indonesia. Apart from its function as a Liability Company (Persero), BNI underwent an adjustment
circulation bank, Bank BNI also functioned as a commercial in its legal form to become a Limited Liability Company
bank, continuing the work of the previous Poesat Bank (Persero). Through Government Regulation No. 19 of 1922,
Indonesia. The inauguration of BNI was held in Yogyakarta Bank Negara Indonesia 1946 was declared dissolved with
on the first anniversary of the Proclamation of Indonesian the provision that all rights and obligations, assets and
Independence on August 17, 1946. In the Round Table employees of Bank Negara Indonesia 1946, which existed
Conference, which ended on November 2, 1949, BNI’s status at the time of its dissolution, be transferred to the Limited
as a Central Bank was removed and De Javasche Bank was Liability Company (Persero).
designated as the Central Bank, while BNI was designated
as a Development Bank. The adjustment of this legal form was also recorded as the
initial milestone of the establishment of Limited Liability
On February 4, 1955, through Emergency Law No. 2 of 1955 Company (Persero) Bank Negara Indonesia, where its
concerning Bank Negara Indonesia, BNI was designated establishment has the aims and objectives, as explained
as a commercial bank. Then in 1961, this Emergency Law in Article 2, Chapter II, Government Regulation No. 19 of
was enacted into law. Based on this law, BNI’s duties and 1992, namely to conduct business in the banking sector
business activities were to assist and promote people’s in the broadest sense, and other businesses that support
prosperity and national economic development. these business activities.
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The adjustment in the legal form to a Persero was confirmed Companies (“POJK No. 15/2022”) after obtaining approval
through Notary Deed No. 131, dated July 31, 1992, drawn from the Extraordinary GMS held on September 19, 2023.
up before Muhani Salim, S.H., and approved by the Minister The Stock Split was carried out to increase demand for the
of Justice of the Republic of Indonesia No. C2-6582.HT.01.01. Company’s shares by expanding the investor base. Stock
TH.92 and announced in the Republic of Indonesia State Split was carried out with a split ratio of 1:2.
Gazette No. 73 dated September 11, 1992 Supplement No.
1A. At the end of 2023, 60% of BNI’s shares were owned by
the Government of the Republic of Indonesia, and 40%
In 1996, BNI listed its shares on the Jakarta Stock Exchange are owned by the public, both individuals and institutions,
and the Surabaya Stock Exchange (now IDX), this step domestic and foreign. BNI is supported by a number of
made BNI the first BUMN bank (State Owned Enterprise) subsidiaries to strengthen its integrated financial services,
to become a public company. The listing of shares on the including PT BNI Multifinance, PT BNI Sekuritas, PT BNI
Stock Exchange aimed to strengthen the financial structure Life Insurance, BNI Remittance Ltd., PT Bank Mayora, which
and increase business competition in the banking world. later changed its name on May 24, 2023 to PT Bank Hibank
Other corporate action steps taken by BNI included a Indonesia, and PT BNI Modal Ventura.
recapitalization process by the Government in 1999, the
divestment of Government shares in 2007, and a limited BNI also offers depository and loan facilities for the
public offering in 2010. corporate, medium and small segments. Some of the key
products and services have been adapted to the needs of
On October 6, 2023, the Company carried out a Stock customers ranging from childhood, youth, adulthood, to
Split with reference to the Republic of Indonesia Financial retirement. BNI is now listed as one of the largest national
Services Authority (FSA) Regulation No. 15/POJK.04/2022 banks in Indonesia, in terms of total assets, total loans and
concerning Stock Splits and Stock Mergers by Public total third party funds.
CHANGE OF NAME
BNI has a long history in line with the history of the Indonesian nation’s struggle for independence in 1945; starting with
the name Bank Negara Indonesia 1946 through to becoming PT Bank Negara Indonesia (Persero) Tbk. During its journey
until 2023, BNI has undergone 3 (three) name changes, as explained in the following table:
Effective Date
No. Name Reason For Change
of Name Change
In 1968, through Law No. 17 of 1968, the Government reorganized
1 Bank Negara Indonesia 1946 BNI’s business activities and changed the name of Bank Negara 1968
Indonesia Unit III to Bank Negara Indonesia 1946.
Due to adjustments in the legal form by the Government of
Perusahaan Perseroan Indonesia through Government Regulation No. 19 of 1992 dated
2 (Persero) Bank Negara April 29, 1992 concerning the Adjustment of the Legal Form, April 29, 1992
Indonesia Bank Negara Indonesia 1946 became a Limited Liability Company
(Persero).
Due to an adjustment through Law No. 40 of 2007 concerning
PT Bank Negara Indonesia
3 Limited Liability Companies, BNI added “PT” as a limited liability June 13, 2008
(Persero) Tbk
company and “Tbk” as a public company.
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Vision, Mission,
and Corporate Culture
VISION
To become a Financial Institution
with Sustainable Service and
Performance Excellence
Vision Explanation
1. To become a Financial Institution 3. Excels in Performance
a. Technological developments in the digital era and changes a. The Company’s financial performance is an aspect that can
in customer preferences have prompted banks to be able to increase the value for customers, investors, employees,
develop their product and service propositions to meet the communities and industry.
increasingly complex customer needs.This development is b. Good company performance is a benchmark to seeing the
supported by the increasingly integrated and complementary company health level and excellence in the industry.
financial service products, as well as the emerging of Fintech c. Good company performance also increases the Company’s
era in financial services. sustainability (sustainable growth).
b. Increasingly complex customer needs for financial services, d. Company performance is supported by the performance of
for banking transactions, sharia, investment, insurance, and the entire organization at all levels to be the best.
alternative financing besides credit.
4. Sustainability
c. The policy issued by the regulator (FSA) encourages
a. Services provided to customers and company performance
integrated governance (corporate governance, compliance,
illustrates the company’s success that must be maintained in
auditing, and risk management) in conglomeration
supporting the company’s existence in the financial industry.
management for group companies that own banks and
b. Excellent service and performance needs to be carried out to
other financial services.
provide positive feedback to shareholders over an indefinite
2. Excels in Services period of time.
a. Services are key and are offered to customers of financial
service providors.
b. Excellent services and a positive customer experience
will add value for customers when choosing a financial
institution.
c. Financial institution services are required to cover all
customer segments so as to make financial institutions
a lifetime financial partner and a total financial solutions
provider, customized to customer needs, and includes
serving the business ecosystem in an integrated manner.
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MISION
• Providing excellent services and digital solutions to all customers,
and as the primary partner of choice.
• Strengthening international services to support the needs from our
global business partner.
• Increasing the prime investment value for investors.
• Creating the best conditions for employees as a place of pride for
work and accomplishment.
• Increasing awareness and responsibility to the environment and
society.
• Becoming a reference for the implementation of compliance and
good corporate governance for industry.
BNI’s mission covers the 5 (five) key stakeholders that influence BNI’s Vision achievement in providing superior service and performance.
The 5 (five) key stakeholder groups are:
Customers
(including 1 2 3 4 5
global business Investor Employees Communities Government
customers)
Mission Explanation
BNI’s mission explanation is as follows: 4. Creating the best conditions for employees as a place of pride
1. Providing excellent services and digital solutions to all for work and achievement
customers, and as the primary partner of choice, as follows: a. Providing equal and broad opportunities for increasing
a. Providing complete, integrated, quality, reliable, and knowledge, skills, and certainty of career paths;
dependable products/banking services; b. Creating and supporting talent management programs to
b. Providing “one stop solution” services for both business create future leaders for both BNI and Indonesia;
and individual customers; c. Providing facilities and a work environment that is safe,
c. Providing best-in-class products and services; comfortable, harmonious to support the achievement of
d. Improving customer experience for processes considered the target of increasing productivity.
critical by customers;
5. Increasing awareness and responsibility to the environment
e. Proactively making adjustments and improvements in
and society
accordance with development of customer needs and
a. Actively serving banking needs for all levels of society;
demands for quality products/services offered by BNI;
b. Actively seeking and entering new businesses that are in
f. Providing convenience for customers in conducting
line with the latest rules and regulations;
transactions through digital solution services.
c. Actively developing international business for business
2. Strengthening international services to support the needs expansion in prospective countries;
from our global business partners: d. Actively improving the quality of the environment and
a. Providing quality products as the partner of choice for community in line with business development.
Indonesian companies to expand globally;
6. Becoming a reference for the implementation of compliance
b. Providing gateway services to help foreign companies
and good corporate governance for industry
penetrating Indonesian market;
a. Implementation of integrated risk management;
c. Providing financial institution products/services to
b. Accommodate whistle blowers to protect the interests of
Indonesians living abroad.
the Company and society;
3. Increasing the investment value for investors c. Active communication between Company Management
a. Achievement of maximum operating profit (profitability); and all employees and leaders who can become role
b. Growth that is sustainable and can be justified (sustainable models;
growth); d. Actively updating rules, regulations, and implementing
c. Healthy financial institutions; them in a disciplined and systematic manner, to become
d. Cost control (cost effectiveness); a trusted financial institution.
e. Stable and increasing share prices;
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BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS
REVIEW OF THE VISION AND MISSION
BNI’s Vision and Mission are formulated by considering all stakeholders, including the Board of Commissioners,
Management, Subsidiaries, representatives of all levels of employees, the community, investors, customers, government,
and relevant experts in the financial industry. This is done through various methods such as surveys, interviews, and
joint discussions.
BNI’s Vision and Mission were outlined in the Long-Term Plan (revision of the corporate plan 2019-2023) in accordance
with the Board of Commissioners’ approval No. DK/116 dated November 29, 2021, and BNI’s Medium-Term Plan (Bank
Business Plan/RBB 2023-2025) in accordance with the Board of Commissioners’ approval No. DK/77 dated June 23, 2023.
Every year, the Vision and Mission are reviewed in line with the latest conditions of BNI as a reference for formulating
business strategies in the future. The management ensures that the vision and mission are consistent with long-term
goals, and the implementation of vision achievement is carried out by effectively utilizing innovation and technology.
VISION AND MISSION ACHIEVEMENT STRATEGY
The strategies have been outlined in long-term and short-term documents, and are used as a reference in running BNI’s
business, where these strategies and their realization are reported periodically to the regulator (FSA).
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
CORPORATE CULTURE
BNI determines and enforces “AKHLAK”, as the key value, which consists of Trustworthy, Competent,
Harmonious, Loyal, Adaptive, Collaborative, and must be followed by all BNI personnel when carrying out
their daily duties.
CORE VALUES BEHAVIORAL GUIDELINES
• Keeping promises and commitments
Trustworthy
• Be responsible with the duties, decisions made, and actions taken
Holding fast the trust given
• Upholding moral and ethical values
Competent • Improving self-competence to respond to ever-changing challenges
Continuing to learn and • Helping others to learn
develop capabilities. • Accomplishing duties with highest quality
Harmonious • Respect everyone regardless of their background
Caring for each other and • Likes to help others
respecting differences. • Building conducive work environment
Loyal • Maintaining reputation of fellow employees, leaders, SOE, and the State
Dedicated to and • Willing to sacrifice to achieve a greater goal
prioritizing the interests of
• Obeying the leader as long as not against the law and ethics
the Nation and Country.
Adaptive • Promptly adjusting oneself to be better
Continuing to innovate and • Continuously making improvements
be enthusiastic in driving
• Be proactive
or facing change.
Collaborative • Providing opportunities for various parties to contribute
Building synergistic • Be open in working together to generate added values
cooperation. • Mobilizing the use of various resources for common goals
COMPANY CULTURE SOCIALIZATION AND INTERNALIZATION
Application of AKHLAK
AKHLAK application at BNI is supported and accelerated by the transformation of work culture, aiming to align with BNI’s
values. The AKHLAK Core Values (Trustworthy, Competent, Harmonious, Loyal, Adaptive, Collaborative) were mandated
by the Ministry of SEOs. The process of internalizing AKHLAK core values has been carried out for three years and will
continue to be carried out through many activities and methods that are constantly being evaluated so that the application
of these values can run optimally.
In 2023, the internalization and socialization program for AKHLAK application were carrying out the Work Culture
transformation program that was launched in May 2023 and carrying out the internalization of cultural transformation
with outreach to 17 regions. Socialization was carried out to all RACE Captains and RACE Champions, which have been
formed in 2023.
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Lines of
Business
BUSINESS ACTIVITIES BASED ON THE LATEST ARTICLES OF
ASSOCIATION AND ALREADY IMPLEMENTED
In accordance with Article 3 of the Company’s latest Articles of Association as stated in Deed No. 23 dated April 23, 2021
made before Notary Fathiah Helmi S.H., domiciled in South Jakarta, which received approval from the Minister of Law
and Human Rights through decision letter No. AHU-AH.01.03-0264697, as amended by Deed No. 18 dated September 19,
2023 made before Notary Ashoya Ratam S.H., M.Kn., which received approval from the Minister of Law and Human Rights
through letter No. AHU-AH.01.03-0119983, the Company’s aims and objectives are to conduct business in the banking
sector and to optimize the use of the Company’s resources to produce high quality and highly competitive services to
gain/pursue profits in order to increase the value of the Company by implementing the principles of a Limited Liability
Company. To carry out these aims and objectives, the Company can carry out the aforementioned objectives, and the
Company can carry out the following business and supporting activities:
Business Activities
BNI’S Business Activities
Based on the Articles of Association
Main Business Activities
Main Business Activities Already Not Yet
Implemented Implemented
Collecting funds from the public in the form of savings, current deposits, time deposits, savings
1 √
deposits, or other equivalent forms.
2 Providing credit. √
3 Issuing debt instruments. √
Buying, selling, or guaranteeing, at their own risk or for the interests and on the order of customers,
(money orders, debt securities/other trade paper, treasury bills, government guarantee letters, Bank
4 √
Indonesia certificates, bonds, fixed maturity trade securities, and other fixed maturity securities
instruments).
5 Transferring money either for its own needs or the needs of customers. √
Placing, lending or borrowing with other banks, by using mail, telecommunication facilities and
6 √
notes, checks or other facilities.
7 Receiving payments from securities billing and performing calculations with or among third parties. √
8 Facilitating a secure place for goods and securities. √
9 Carrying out custodial activities for the benefit of other parties based on a Contract. √
Performing funds placements from a customer to other customers in the form of securities that are
10 √
not listed on a stock exchange.
Conducting financing and/or other activities including activities based on sharia principles, in
11 √
accordance with the provisions stipulated by competent authorities.
12 Performing activities in factoring, credit card business and trustee services. √
13 Conducting foreign currencies activities by fulfilling the conditions set by competent authorities. √
√
14 Performing equity activities in banks or other companies in the financial sector.
Conducting temporary capital participation activities to overcome any consequence of loan failure,
15 including financing failure activities based on sharia principles provided they withdraw their √
investments in accordance with the provisions stipulated by the competent authorities.
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Business Activities
BNI’S Business Activities
Based on the Articles of Association
Main Business Activities
Main Business Activities Already Not Yet
Implemented Implemented
Acting as a Pension Fund Founder and management in accordance with the relevant laws and
16 √
regulations.
Performing activities in financial services, commercial banking, investment banking and other such
17 √
services.
Perform other activities commonly performed by banks insofar as they do not conflict with the laws
18 √
and regulations.
Supporting business activities in the context of optimizing the use of its own resources to support
19 √
the main business activities insofar as they do not conflict with the laws and regulations
PRODUCT AND SERVICES PRODUCED
BNI is a Company engaged in the banking sector, BNI delivers deposit products, loan products, and other services. BNI‘s
products and services are as follows:
Consumer Retail
Savings Credit Cards
• BNI Taplus • Regular Credit Card • Affinity Credit Card
• BNI Taplus Muda » BNI Visa Gold » Affinity Universitas Credit Card
• BNI Taplus Bisnis » BNI Mastercard Gold » Affinity Ikatan Alumni Credit
• BNI Tappa (Taplus Pegawai/Taplus » BNI JCB Gold Card
Anggota) » BNI Amex Vibe » Affinity Komunitas/Organisasi
• BNI Tapenas • Premium Credit Card Credit Card
• BNI Taplus Anak » BNI Mastercard Style Titanium » Affinity Pegawai Perusahaan
• BNI Taplus Diaspora » BNI Visa Platinum Credit Card
• BNI Simpanan Pelajar » BNI American Express Business • Corporate Credit Card
• BNI Pandai Card » BNI Visa Corporate Card Gold
• Tabunganku » BNI JCB Precious » BNI Visa Corporate Card
• BNI Dollar (USD/SGD/AUD) » BNI Mastercard World Platinum
• BNI Deposito (IDR/USD/SGD/JPY/HKD/ » BNI Visa Signature » BNI Mastercard Virtual Card
EUR/GBP/AUD) » BNI Visa Infinite Number
• BNI Simponi (DPLK BNI) • Co-Branding Credit Card » BNI Government Credit Card
• Tabungan Indonesia Pintar (PIP) » Garuda BNI • Private Label Credit Card
• Emerald Saving » BNI Pertamina » BNI Travelling Card
» BNI Telkomsel » BNI Health Card
Loans
» BNI Bank BJB » BNI Distribution Card
• BNI Griya
» BNI Bank DKI • BNI Cash Card
• BNI Griya Multiguna
» BNI LOTTE Mart
• BNI FLPP/SSB/BP2BT
» BNI Batik Air
• BNI Fleksi
» BNI Siloam Hospitals
• BNI Fleksi Pensiun
» BNI XL Prioritas
• BNI Instan
• BNI Oto
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Konsumer Ritel
• Syariah Inbranch
» BNI Life Hy End Pro Syariah
» BNI Life Sakinah Multipro Link
» BNI Life Wadiah Gold Cendekia
• Employee Benefit
» Optima Group Health
» Optima Group Life
» Optima Group Protection
» Optima Group Saving
» Optima Manage Care
• Syariah Employee Benefit
» BLife Ekawarsa Syariah
Debit Card
» BLife Syariah Dana Hari Tua
• Regular Debit Card
» BNI Life Syariah Mitra Cendekia
» Silver Debit Card
» BLife Health Plan Syariah
» Gold Debit Card
» BLife Asuransi Kecelakaan Diri Plus Syariah
• Premium Debit Card
• Telesaving
» Platinum Debit Card
» Proteksi Prima
• Co-Brand Debit Card
» BNI Life Active
» Garuda Debit Card
» BNI Life Definite Protection
» Citilink Debit Card
» BNI Life Smart Protection Plus
» Batik Air Debit Card
» Safe Medical Plan +
» Lotte Grosir Debit Card
» PA Protection Plus
» Indogrosir Debit Card
» Digital (Mobile Banking)
• Affinity Debit Card
» BNI Life Digi Micro Protection
» Affinity Universitas Debit Card
• Kredit Konsumtif
» Affinity Ikatan Alumni Debit Card
» BNI Life AJK Collateral
» Affinity Pegawai / Organisasi / Komunitas Debit Card
» BNI Life AJK Non Collateral
• BNI Emerald Debit Card
• Kredit Produktif
» BNI Emerald Private Debit Card
» Asuransi Jiwa Kredit Kumpulan
» BNI Emerald Priority Debit Card
» Asuransi Jiwa Kredit BNI Life Proteksi Kredit Produktif +
» BNI Emerald Private Debit Card
• Telecredit card
• Emerald Affinity Debit Card The Djakarta Auto (BNI Emerald
» PA Protection Plus
TDA)
» Solusi Proteksi Sehat
» Safe Medical Plan +
Emerald Service
» Perisai Plus
• BNI Emerald Service
» Bundling
» Blife Tapenas
Investment Products
• Money Market Mutual Funds (IDR and USD)
Digital Banking
• Fixed Income Mutual Funds(IDR and USD)
• BNI Mobile Banking
• Mixed Mutual Funds(IDR and USD)
• BNI SMS Banking
• Shares Mutual Funds(IDR and USD)
• BNI Internet Banking
• Protected Mutual Funds
• BNI Phone Banking
• Government Retail Bonds (ORI, SR, SBR, ST)
• BNI DigiCs
• Government Securities via secondary market mechanisms
• BNI TapCash
and Ministry of Finance Auctions in IDR (FR, PBS, Indon,
• BNI Agen46
Indois)
• BNI QRIS
• Corporate Bonds (IDR and USD)
• BNI Debit Online
• Depo Swap (IDR and USD)
• BNI EDC
• Market Linked Dual Currency Investment
• BNI EDC Mini ATM
• Stock Brokerage Referrals
• BNI iPay
• Foreign Exchange
• BNI SmartPay
• BNI API Digital Services
Insurance Products
• BNI Pembukaan Rekening Digital (DOA)
• In-Branch
• BNI E-Form Program Kartu Pra Kerja
» BNI Life MProtection
• BNI Direct Debit
» Blife Maksima Sehat
• BNI ATM/CRM
» BNI Life MProtection Plus
• BNI ATM Drive Thru
» Blife Perisai Prima
» BNI Life Plan Multi Protection
Services
» Blife Term Pro
• Domestic Money Transfers
» Solusi Abadi Plus
• International Money Transfers
» Solusi Pintar
• Safe Deposit Box
» BLife Hy End Pro
• Collections
» Swadana
• BNI Bank Certificate
» Blife Fixed Protection
• Traveler’s Check
» BNI Life Infinite protection
• Foreign Bank Notes
» BNI Life Steady Protection
» BNI Life Ultima Protection
» Pension Fund Protection Solution
» Health Fund Solution
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Business Banking
Savings Services • Export LC:
• BNI Individual Current Account • Wholesale Solutions ◊ LC Export Advising
• BNI Non-Individual Current Account » Cash Management ◊ LC Export Collection
• BNI Joint Current Account * Collection Management • Inward Documentary Collection
• BNI Government Current Account • Virtual Account • Outward Documentary Collection
• Company Time Deposits • BNI e-collection • Shipping Guarantee
• BNI Multi Currency Current Account • Auto Debit • S tandby Letters of Credit
• Cash Pick-Up • BNI Trade Online
Digital Banking • Student Payment Center • Demand Guarantee
• BNIDirect Corporate Internet Banking • Autopay • Bank Guarantee Undercounter
• BNIDirect Mobile * Liquidity Management • Domestic Bank Guarantee
• Financial Supply Chain Management • Cash Pooling • Confirm LC/SKBDN
• E-Bank Guarantee • Cash Distribution * Trade Finance
• API Corporate Banking • Range Balance Account • Export & Import LC Negotiation
• Depo Swap • Trust Receipt
Lending Products • Notional Pooling • Bill Collection Financing
• Working Capital Loans (KMK) * Payment Management • Open Account Financing
• Investment Loans (KI) • E-Tax • Bills Discounting
• Team Loans • E-PBB • LC Refinancing
• Bank Guarantee (GB) • E-Tax Kepabeanan – PNBP • Forfaiting
• Stand-by LC (SBLC) • Billing Payments • Trade Advance Financing
• Domestic Documentary Letter of Credit • Utility Payments » Syndication
(SKBDN) • Payroll * Structured Finance
• Import Letter of Credit (LC) Limit • BNI POPS (Pertamina Ordering * Arrangement
• Export Loans and Payment Solutions) * Facility Agent
• Import Loans • Integrated Payment * Security Agent
• Syndicated Loans Management (ERP) * Escrow Agent
• Counter Guarantee Loans • Email/Beneficiary Advice * Paying Agent
• Transactional Loans • Smart Commerce Pay » Fund Services
• Treasury Line • Transfer Management * Fund Accounting, Fund Administration,
• Money Market Line • Information Management Reporting and Publication Supervision
• Government or Government Institutions * ECOSmart * Core Banking BNI
Loans * Edupatrol * Transfer Agency
• Cash Collateral Credit (CCC) * Remittance * Bank Guarantee
• Supply Chain Financing * Intraday Services * Bid Bond
• Financial Institutions Lingkage Loans » Trade Products * Advance Payment Bond
(KKLK) * Trade Services * Performance Bond/ Guarantee from
• People’s Business Loans (KUR) • Import LC Issuance Implementing Bank
• BNI Wirausaha (BWU) ◊ Sight LC * Maintenance Bond/Retention Bond/
◊ Usance LC Guarantee from Maintaining Bank
◊ Back to Back LC (BBLC) * Payment Bond/ Guarantee from
◊ Transferable Letter of Credit Payment Bank
* Custom Bond
Treasury & International
Loan Products • BNI Tokyo Payment System (Local Currency Treasury
• Corporate Loan (Working Capital Loan and Settlement/LCS) • Foreign Exchange
Team Loan) • Escrow Agent » Today
• Dispora Loan • Safe Deposit Box » Tom
• Overdraft Facility • Trust Service » Spot
• Trade Financing » Bank Notes
• Syndication Loan Financial Institution Products • Investments
• Project Financing • Nostro Account » Deposit on Call (DOC)
• Discount Bills • Refinancing » Money Market Account (MMA)
• Loan on Bills • Risk Participation » Obligasi Retail
• Two Steps and Channeling Loan to Local • Term Loan Facility Bank » Depo Swap
Companies from Indonesia • Billateral Trade Financing » Market Linked-Dual Currency Investment
• Risk Participation and Forfaiting (MLDCI)
Retail Services Products • Bankers Acceptance • Hedging
• BNI Current Account (SGD, HKD, CNY, JPY, » Currency Forward
KRW, dan USD) Custody Product * Domestic Non-Deliverable Forward
• BNI Fixed Deposit (SGD, HKD, CNY, JPY, • Custodian Services (DNDF)
KRW, dan USD) • Wali Amanat * PAR Forward
• BNI Saving Account (SGD, HKD, CNY, JPY, • Trust » Currency Swap
KRW, dan USD) » Currency Option
• Demand Deposits Non-Bank Financial Institution Product » Interest Rate Swap (IRS)
• Negotiable Deposits • Loan Facility to Non Bank Financial Institution * Overnight Index Swap (OIS)
• Remittance • Commercial Line to Non Bank Financial » Cross Currency Swap (CCS)
• Hospital Guarantee Institution » Call Spread Option (CSO)
• BNI Singapore Payment System (MEPS) • Intraday to Non Bank Financial Institution * Series of Call Spread
• BNI Hong Kong Payment System (HKD • Reverse Repo
Chats)
• BNI New York Payment System (USD
Fedwire)
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Company
Operational Areas
As of December 31, 2023, BNI has 1 (one) head office, 17 regional offices, 10 (ten) overseas office networks and 1,838
office networks consisting of branch offices, sub-branch offices and Business Centers. The 10 (ten) overseas office
networks, consist of 6 (six) overseas branch offices, 1 (one) sub-branch, 2 (two) remittance branch offices, and 1 (one)
Representative Office in 7 (seven) countries.
The BNI Office Network focuses on providing services and business solutions as well as facilitating BNI domestic
and overseas customer transactions. In order to encouraging customer business development for the Corporate &
International Banking, Institutional Banking, Enterprises & Commercial Banking, Consumer Banking, Treasury, Head Office,
and Subsidiaries, BNI’s office network is supported by competent and dedicated HC. For easier, faster and closer access
to BNI services, BNI currently also has 185,697 BNI Agent46 as a branchless banking network to support public financial
literacy and inclusion. Details of the BNI Agen46 and Office networks per region are as follows:
W01
W01 (Medan)
Coverage: North Sumatra
• 13 Branch Offices
• 79 Sub-Branch Offices
• 1 Commercial Business Center
• 1 Retail Productive Business Center
• 1 Consumer Loan Processing Center
• 688 ATM/CRM W02
• 9,375 BNI Agen46
W02 (Padang)
Coverage: West Sumatra, Riau, and Riau
W03
Islands W09
• 13 Branch Offices
• 99 Sub-Branch Offices
• 2 Commercial Business Center
• 1 Retail Productive Business Center
• 1 Consumer Loan Processing Center
• 859 ATM/CRM
W10, W12,
• 11,395 BNI Agen46 W14, W15
W03 (Palembang) W06 (Surabaya) W04
Coverage: Jambi, South Sumatra, Coverage: Upper Eastern Java W05
W06
Bengkulu, Lampung, and Bangka Belitung • 12 Branch Offices
W17
• 15 Branch Offices • 117 Sub-Branch Offices W18
W08
• 102 Sub-Branch Offices • 3 Commercial Business Center
• 1 Commercial Business Center • 4 Retail Productive Business Center
• 1 Retail Productive Business Center • 1 Consumer Loan Processing Center
• 1 Consumer Loan Processing Center • 949 ATM/CRM
• 838 ATM/CRM • 14,716 BNI Agen46
• 14,880 BNI Agen46
W04 (Bandung) W07 (Makassar) W09 (Banjarmasin) W11 (Manado)
Coverage: West Java Coverage: West Sulawesi, Central Coverage: West Kalimantan, Central Coverage: : Sulawesi utara, Gorontalo,
• 15 Branch Offices Sulawesi, South Sulawesi and Maluku Kalimantan, South Kalimantan, East Sulawesi Tengah dan Maluku utara
• 113 Sub-Branch Offices • 11 Branch Offices Kalimantan Timur, and North Kalimantan • 11 Branch Offices
• 1 Commercial Business Center • 98 Sub-Branch Offices • 21 Branch Offices • 55 Sub-Branch Offices
• 2 Retail Productive Business Center • 1 Commercial Business Center • 126 Sub-Branch Offices • 1 Consumer Loan Processing Center
• 1 Consumer Loan Processing Center • 1 Retail Productive Business Center • 2 Commercial Business Center • 456 ATM/CRM
• 1,060 ATM/CRM • 1 Consumer Loan Processing Center • 1 Retail Productive Business Cent • 8,556 BNI Agen46
• 15,634 BNI Agen46 • 824 ATM/CRM • 1 Consumer Loan Processing Center
• 6,921 BNI Agen46 • 1.075 ATM/CRM
• 11,508 BNI Agen46
W05 (Semarang) W08 (Denpasar) W10 (Jakarta Senayan) W12 (Jakarta Kota)
Coverage: Upper Central Java Coverage: Bali, West Nusa Tenggara, and Coverage: Central Jakarta, South Jakarta Coverage: North Jakarta and West
East Nusa Tenggara • 7 Branch Offices Jakarta
• 11 Branch Offices
• 76 Sub-Branch Offices • 9 Branch Offices • 114 Sub-Branch Offices • 6 Branch Offices
• 1 Retail Productive Business Center • 96 Sub-Branch Offices • 2 Commercial Business Center • 91 Sub-Branch Offices
• 1 Consumer Loan Processing Center • 1 Commercial Business Center • 2 Retail Productive Business Center • 1 Commercial Business Center
• 668 ATM/CRM • 1 Retail Productive Business Center • 494 ATM/CRM • 4 Retail Productive Business Center
• 15,081 BNI Agen46 • 1 Consumer Loan Processing Center • 4,298 BNI Agen46 • 1 Consumer Loan Processing Center
• 779 ATM/CRM • 437 ATM/CRM
• 9,607 BNI Agen46 • 7,332 BNI Agen46
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Jaringan Kantor Luar Negeri
6 Branch Offices
• New York, Amerika Serikat
• London, Inggris
• Seoul, Korea Selatan
• Tokyo, Jepang
• Hong Kong
• Singapore
1 Sub Branch Office
• Osaka, Jepang
2 Remittance Branch Office
• 2 Singapore
1 Representative office
• Amsterdam, Belanda
10 ATM
• 8 Hong Kong
• 2 Singapore
W11
BNI Network Summary
1 Head Office
W16
17 Regional Offices
W07
195 Branch Offices
Sub-Branch Office*
1,586
Commercial
19 Business Centers
SME Business
26 Centers
Consumer Credit
W14 (Jakarta BSD)
Coverage: South Jakarta, Depok,
W16 (Papua)
Coverage: Papua, West Papua,
W18 (Malang)
Coverage: Lower East Java
12 Processing Centers
Bogor, and Banten Central Papua, South Papua, • 14 Branch Offices
• 9 Branch Offices Southwest Papua and Papua • 69 Sub-Branch Offices
• 110 Sub-Branch Offices Highlands • 861 ATM/CRM
• 1 Commercial Business Center • 5 Branch Offices • 18,132 BNI Agen46
DigiCS
•
•
2 Retail Productive Business Center
1.286 ATM/CRM
•
•
37 Sub-Branch Offices
171 ATM/CRM
226
• 11,046 BNI Agen46 • 4,949 BNI Agen46
ATM/CRM
W15 (Jakarta Kemayoran) W17 (Yogyakarta) 13,390
Coverage: East Jakarta, Bekasi, Coverage: Yogyakarta and Lower Central
Jababeka and Karawang Java
BNI Agen46
• 8 Branch Offices • 15 Branch Offices 185,697
• 110 Sub-Branch Offices • 98 Sub-Branch Offices
• 2 Commercial Business Center • 1 Commercial Business Center
• 3 Retail Productive Business Center • 2 Retail Productive Business Center
• 993 ATM/CRM • 1 Consumer Loan Processing Center
• 8,431 BNI Agen46 • 906 ATM/CRM
• 13,836 BNI Agen46
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Organizational Structure
Company
Committees Under the Board of Commissioners
Risk Monitoring Committee
Audit Committee Nomination & Remuneration Committee Integrated Governance Committee
Chair : Erwin Rijanto Slamet
Chair : Asmawi Syam Chair : Pradjoto Chair : Pradjoto
Member :
Member : Member : Member :
Pahala Nugraha Mansury
Sigit Widyawan Pahala Nugraha Mansury, Sigit Widyawan, Askolani, Askolani, Susyanto, Robertus Billitea,
Fadlansyah Lubis
Iman Sugema Asmawi Syam, Susyanto, Iman Sugema, Septian Hario Parikesit Suprapto, Siti Haniatunnisa,
Septian Hario Seto
Human Brillianto Seto, Erwin Rijanto Slamet, Fadlansyah Lubis, Robertus Riswinandi, Eko Priyo Pratomo, Rufina Tinawati
Dwita Suherlina
Suhendi Muharam Billitea, Danni Tri Suryani dan Yenni Sari Dewi Marianto dan Nurani Raswindriati
Bambang Setyogroho
Board of
Commissioners’
President Director
Royke Tumilaar
Wholesale & Enterprise &
Institutional Network & Human Capital & Finance Director
International Banking Commercial
Banking Director Services Director Compliance Director Novita Widya
Director Banking Director
Muhammad Iqbal Ronny Venir Mucharom Anggraini
Silvano Winston Rumantir Sis Apik Wijayanto
SEVP Corporate
Development & SEVP Corporate
Transformation SEVP Treasury
Banking Ita Tetralastwati
Hussein Paolo Pancaran Affendi
Kartadjoemena
Corporate Corporate
Distribution
Development & Corporate Corporate Enterprise Institutional Human Capital Planning &
Internal Audit Transformation Banking 3
Treasury Network &
Banking 1 Banking Banking 1 Strategy Performance
Basaria Martha Sales
Management
Corporate Corporate Corporate Commercial Institutional Human Capital
Secretary Strategic Project Banking 4
Agen46 Accounting
Banking 2 Banking 1 Banking 2 Services
Syndication Customer Procurement &
Commercial
& Structured Pension Fund Experience BNI University Fixed Assets
Banking 2
Finance Center
International
Senior SORX* Investor
Banking &
Business Network & Compliance Relations
Financial
Executive (SBX) Services
Institutions
Senior
Business Subsidiaries
Executive (SBX) Legal Management
SORX*
Wholesale Office of Chief
Banking Policy Economist
Governance
Overseas Regional Data
Branch Office Management &
HC Business
Analytics
Partner
BNI BNI BNI
BNI SEKURITAS HIBANK
REMITTANCE MULTIFINANCE LIFE INSURANCE
BNI ASSET
BNI SECURITIES
MANAGEMENT
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Rapat Umum
GENERAL Pemegang
MEETING OF
Saham (RUPS)
SHAREHOLDERS (GMS)
Committees Under the Board of Directors
Integrated Risk
Credit Policy Asset & Liability
Credit Committee Business Committee Management
Committee Committe
Committee
Performance Technology
Human Capital Risk Management and Subsidiaries’
Management Management
Committee Anti Fraud Committee Committee
Committee Committee
Informations on the name and position of each Committee are disclosed in the discussion section of Committees under the Board of Directors,
Corporate Governance Chapter on this Annual Report
DIREKSI
Vice President Director
Adi Sulistyowati
Digital & Integrated
Retail Banking Director Risk Management Technology & Operations
Transaction Banking
Putrama Wahju Director Director
Director
Setyawan David Pirzada Toto Prasetio
Corina Leyla Karnalies
SEVP SEVP
SEVP Wealth SEVP SEVP SEVP Retail
Remedial & Information
Management Credit Risk Operations Digital Solutions
Steven Suryana Bun Hendra
Recovery Technology Fauzi Rian Eriana Kaslan
I Made Sukajaya Victor Korompis
Corporate & Corporate Wholesale Retail Digital
Consumer Wealth Enterprise Risk IT Strategy & Wholesale Banking Transaction
Enterprise Credit Remedial & Product &
Segment management Management Architecture Digital Delivery Operations Product &
Risk Recovery Partnership Partnership
Enterprise &
Consumer Operational Risk Commercial Commercial Retail Digital Digital Wholesale Retail Digital
CISO
Product Management Credit Risk Remedial & Delivery Operations Digital Channel Channel
Recover
Operations
Retail Credit Retail Collection Application Credit Marketing
Card Business Strategy &
Risk & Recovery Development Operations Communications
Development
Retail
IT Application
Productive Anti Fraud SORX*
Technology Services
Banking
Digital &
Operations
Business Senior Credit IT Infrastructure
Program Risk Executive Management
(SCX)
Note:
SORX* Supervision line SEVP
Consumer
Banking &
Corporate Coordination line Division
Function
Lines of communication Functional Unit
& information delivery
Board of Commissioners Subsidiaries
Committee Subsidiaries
of BNI Sekuritas
Director
BNI MODAL * SORX: Senior Operational Risk Executive
VENTURA
Informations on the names of Committee officials under
the Board of Directors are contained in the information
on Committees Under the Board of Directors, Corporate
Governance Chapter on this Annual Report. Informations
on the names of Executive Officers are contained in the
Executive Officer Profile information, Company Profile
Chapter on this Annual Report.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 89
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Association
Membership List
As of December 31, 2023, BNI’s membership in associations or organizations is shown in the table below.
Association/Organization Name Membership Role
National
Himpunan Bank Milik Negara (HIMBARA) Member
Lembaga Alternatif Penyelesaian Sengketa Sektor Jasa Keuangan (LAPSSJK) Board of Supervisors
Forum Hukum Badan Usaha Milik Negara (FORKUM BUMN) Chair
Indonesia Foreign Exchange Market Committee (IFEMC) Member
Association Cambiste International (ACI) - Indonesia Manager
Perhimpunan Pedagang Surat Utang Negara (HIMDASUN) Manager
lFLl (lndonesia Finance Learning lnstitute) - Learning lnstitute BUMN Sektor Jasa Keuangan Coordinator
lFRl (lndonesia Finance Research lnstitute) - Research lnstitute BUMN Sektor Jasa Keuangan Coordinator
Forum Human Capital Indonesia (FHCI) Manager
Perhimpunan Bank Swasta Nasional Member
Asosiasi Forensik Digital Indonesia (AFDI) Member
Perhimpunan Kasir Bank Se-Jabodetabek (PERKAJA) Chair
Asosiasi SWIFT Indonesia (ASWISFTINDO) Commission
Forum Komunikasi Direktur Kepatuhan Perbankan (FKDP) Chair
Forum Humas BUMN Manager
Asosiasi Kartu Kredit Indonesia (AKKI) Member
Ikatan Auditor Intern Bank (IAIB) Member
Asosiasi Bank Kustodi Indonesia (ABKI) Member
Forum Komunikasi Kliring Jakarta Secretary
Indonesia Mortgage Banking Asosiation (IMBA) Member
Ikatan Bankir Indonesia Member
Forum Komunikasi Kearsipan Perbankan (FKKP) Member
Forum Komunikasi Kearsipan BUMN Member
Komite Standar Kompetensi Bidang Sistem Pembayaran dan Pengelolaan Uang Rupiah Manager
Perkumpulan Dana Pensiun Lembaga Keuangan Member
90 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Association/Organization Name Membership Role
ACI FMA Indonesia Manager
Asosiasi Bank Appointed Cross Currency Dealers (ACCD) Manager
Asosiasi Sistem Pembayaran Indonesia (ASPI) Member
Certified Wealth Managers' Association (CWMA) Member
ABAPERDI Member
Asosiasi Fintech Pendanaan Bersama Indonesia Member
Indonesia Contact Center Association (ICCA) Member
Asosiasi Service Quality Indonesia (ASQI) Member
Working Group Otoritas Jasa Keuangan (FSA) - New
Member
Perlindungan Nasabah
Bankers Association for Risk Management (BARa) Manager
Forum Manajemen Risiko (FMR) – Kementerian BUMN Manager
Mastercard Indonesia Member
Forum Digital Talent BUMN (FORDIGI) Member
International
Contact Center World (CCW) Member
Indonesia Council for Small Business/International Council for Small Business Member
European Foundation of Management Development (EFMD) Member
Information Systems Audit and Control Association (ISACA) Manager
ISC2 Member
The Institute of Internal Auditors – Indonesia (IIA) Member
ACCD (Appointed Cross Currency Dealer) Bank Jepang, under LCS scheme Manager
Assosiasi Pengusaha Indonesia di Jepang (APIJ) Member
SME Center Member
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 91
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Board of Directors’
Profiles
Royke Tumilaar
President Director
Age
59 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor of Economics in Management from
Universitas Trisakti (1987)
• Master of Business Administration in Finance from
University of Technology, Sydney, Australia (1999)
• Risk Management Competency Level 5 Certification
issued by Risk Management Certification Agency
(BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Group Head, Regional Commercial Sales II, PT Bank Mandiri
Directors (Persero) Tbk (2007)
Appointed for the first time as President Director of BNI through • President Commissioner, PT Staco Jasapratama (General
the Extraordinary GMS resolution dated September 2, 2020, which Insurance) (2008)
was notarized through the PT Bank Negara Indonesia (Persero) Tbk • Commissioner, PT Mandiri Sekuritas (2009)
Extraordinary General Meeting of Shareholders resolution No. 1 • Group Head, Regional Commercial Sales I, PT Bank Mandiri
dated September 2, 2020, and received approval from FSA through (Persero) Tbk (2010)
No. SR-376/PB.12/2020 dated November 19, 2020. • Director, Treasury, FI & Special Asset Management,
PT Bank Mandiri (Persero) Tbk (2015)
Term of Office • Director, Corporate Banking, PT Bank Mandiri (Persero) Tbk
2020-2025 (First Period). (2015)
• Director, Wholesale Banking, PT Bank Mandiri (Persero) Tbk
Concurrent Positions (2017)
BNI: • Director, Corporate Banking, PT Bank Mandiri (Persero) Tbk
No concurrent positions (2018)
• President Director, PT Bank Mandiri (Persero) Tbk (2019)
Outside BNI: • President Director, PT Bank Negara Indonesia (Persero) Tbk
Does not hold concurrent positions, whether as a member of the (2020–present)
Board of Directors, member of the Board of Commissioners, or
other positions Affiliated Relationships
Has no affiliated relationships with members of the Board of
Work Experience Directors, the Board of Commissioners or with the Majority and
• Credit Analyst, PT Bank Mandiri (Persero) Tbk (1988) Controlling Shareholders, either directly or indirectly with individual
• Corporate Dealer, PT Bank Mandiri (Persero) Tbk (1991) owners.
• Relationship Manager – Treasury Division, PT Bank Mandiri
(Persero) Tbk (1995) BBNI Share Ownership as at December 31, 2023
• Senior Officer Manager, PT Bank Mandiri (Persero) Tbk (1999) 1,115,346 shares
• Department Head (Vice President) Corporate Banking,
PT Bank Mandiri (Persero) Tbk (2005)
• Authority Holder Credit Decision (Group Head) Commercial
Banking, PT Bank Mandiri (Persero) Tbk (2006)
92 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Adi Sulistyowati
Vice President Director
Age
56 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor of Economics in Management from Universitas
Krisnadwipayana (1993)
• Risk Management Competency Level 5 Certification issued
by Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of
Directors Work Experience
Appointed for the first time as Director of BNI through the AGMS • Funds Management and BNI services Assistant, Menteng Main
resolution dated March 17, 2015 Tbk, based on deed No. 34 Branch Office, PT Bank Negara Indonesia (Persero) Tbk (1990-
dated March 17, 2015 and received approval from the Financial 1994)
Services Authority (FSA ) on May 22, 2015 through Letter No. SR- • Marketing Manager BNI Menteng Main Branch Office PT Bank
92/D.03/2015 dated May 22, 2015. Negara Indonesia (Persero) Tbk (1994-1997)
• Marketing Manager of BNI Institutional Funds Division of
Reappointed as Director of BNI at the AGMS on February 20, 2020, Financial Services and Institutional Funds PT Bank Negara
based on Deed of AGMS Resolution No. 21 dated February 20, 2020, Indonesia (Persero) Tbk (1997-2005)
• AVP Marketing and Sales BNI Financial Services Division and
Was reappointed as Vice President Director of BNI based on an Institutional Funds PT Bank Negara Indonesia (Persero) Tbk
Extraordinary GMS decision on September 2, 2020, which was (2005-2009)
notarized through the PT Bank Negara Indonesia (Persero) Tbk • VP Marketing and Sales BNI Division of Financial Services and
Extraordinary General Meeting of Shareholders of Resolution No. 1 Institutional Funds PT Bank Negara Indonesia (Persero) Tbk
dated September 2 2020, and received approval from FSA through (2009-2010)
Letter No. SR-361/PB.12/2020 dated November 5, 2020. • Regional Head of Jakarta Senayan PT Bank Negara Indonesia
(Persero) Tbk (2010-2012)
Term of Office • Regional Head of Jakarta Senayan, Head of Network
2015-2020 (First Period). Management Division, PT Bank Negara Indonesia (Persero) Tbk
2020-2025 (Second Period). (2012-2015)
• Network and Services Director of PT Bank Negara Indonesia
Concurrent Positions (Persero) Tbk (2015-2016)
BNI: • Director of Banking Institutional & Transactional Relations of PT
No concurrent positions Bank Negara Indonesia (Persero) Tbk (2016-2018)
• Director of Institutional Relations of PT Bank Negara Indonesia
Outside BNI: (Persero) Tbk (2018-2020)
Does not hold concurrent positions, whether as a member of the • Director of Service and Networks of PT Bank Negara Indonesia
Board of Directors, member of the Board of Commissioners, or (Persero) Tbk (2020)
other positions • Vice President Director of PT Bank Negara Indonesia (Persero)
Tbk (2020-present)
Affiliated Relationships
Has no affiliated relationships with members of the Board of
Directors, the Board of Commissioners or with the Majority and
Controlling Shareholders, either directly or indirectly with individual
owners.
BBNI Share Ownership as at December 31, 2023
905,706 shares
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 93
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Novita Widya Anggraini
Finance Director
Age
47 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor of Economics Degree in Accounting from
Universitas Islam Indonesia (2000)
• Risk Management Competency Level 5 Certification
issued by Risk Management Certification Agency
(BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of Work Experience
Directors • SR PS Reporting Regulatory PT Bank Mandiri (Persero) Tbk
Appointed as Director of BNI through the Extraordinary GMS (2004)
resolution dated September 2 2020, notarized by the PT Bank • Team Leader, Statutory Reporting, PT Bank Mandiri (Persero)
Negara Indonesia (Persero) Tbk Extraordinary General Meeting Tbk (2009)
of Shareholders resolution No. 1 dated September 2, 2020, which • Department Head Financial Reporting, PT Bank Mandiri
received approval through OJK No. SR-376/PB.12/2020 dated (Persero) Tbk (2013)
November 19, 2020. • Department Head Performance Management, PT Bank Mandiri
(Persero) Tbk (2015)
Term of Office • Group Head, Accounting, PT Bank Mandiri (Persero) Tbk (2017)
2020-2025 (First Period). • Group Head, Strategy & Performance Management, PT Bank
Mandiri (Persero) Tbk (2020)
Concurrent Positions • Finance Director, PT Bank Negara Indonesia (Persero) Tbk (2020–
BNI: present)
No concurrent positions
Affiliated Relationships
Outside BNI: Has no affiliated relationships with members of the Board of
Does not hold concurrent positions, whether as a member of the Directors, the Board of Commissioners or with the Majority
Board of Directors, member of the Board of Commissioners, or and Controlling Shareholders, either directly or indirectly with
other positions individual owners.
BBNI Share Ownership as at December 31, 2023
948,044 shares
94 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Corina Leyla Karnalies
Digital & Integrated Transaction Banking Director
Age
55 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Physics from Universitas Indonesia
(1992)
• Risk Management Competency Level 5 Certification issued
by Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Retail Collection & Recovery Group Head, Bank Niaga (2006)
Directors • Collection & Recovery Head Consumer Banking, ABN Amro Bank
Appointed as Director of BNI through the Extraordinary GMS (2007)
resolution dated February 20, 2020, notarized by the PT Bank • Collection & Recovery Head RBS/A, Amro Bank (2007)
Negara Indonesia (Persero) Tbk Extraordinary General Meeting of • VP, Deputy Division Head Operations Credit Card & Acquiring
Shareholders resolution No. 21 dated February 20, 2020, which Business, PT Bank Negara Indonesia (Persero) Tbk (2010)
received approval through OJK No. SR-171/PB.12/2020 dated June • VP, Deputy Division Head, Collection Management, PT Bank
25, 2020. Negara Indonesia (Persero) Tbk (2013)
• SVP – Division Head, Card Business, PT Bank Negara Indonesia
Term of Office (Persero) Tbk (2015)
2020-2025 (First Period). • SVP – Division Head, Product Development Management, PT
Bank Negara Indonesia (Persero) Tbk (2018)
Concurrent Positions • SVP – Division Head, Data Management and Analytics, PT Bank
BNI: Negara Indonesia (Persero) Tbk (2019)
No concurrent positions • Consumer Banking Director, PT Bank Negara Indonesia (Persero)
Tbk (2020-2023)
Outside BNI: • Digital & Integrated Transaction Banking Director, PT Bank
Does not hold concurrent positions, whether as a member of the Negara Indonesia (Persero) Tbk (2023-present)
Board of Directors, member of the Board of Commissioners, or
other positions Affiliated Relationships
Has no affiliated relationships with members of the Board of
Work Experience Directors, the Board of Commissioners or with the Majority and
• Senior Collector/Leader, Citibank (1995) Controlling Shareholders, either directly or indirectly with individual
• Collection Head, Standard Chartered Bank (1997) owners.
• Collection & Recovery Head, Bank Universal (1999)
• Credit Department Manager, Bank Universal (2000) BBNI Share Ownership as at December 31, 2023
• Deputy Card Management, Bank Universal (2003) 1,442,034 shares
• Operation Credit Card Division Head, Bank Permata (2003)
• Credit Support & Risk Management Division Head, Bank Niaga
(2005)
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 95
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Sis Apik Wijayanto
Enterprise & Commercial Banking Director
Age
62 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Commercial Administration from
Universitas Brawijaya (1988)
• Master’s degree in Management from Universitas Airlangga
(2007)
• Doctor of Administrative Sciences from Universitas Brawijaya
(2021)
• Risk Management Competency Level 5 Certification issued by
Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Branch Head, Jakarta Veteran Branch, PT Bank Rakyat Indonesia
Directors (Persero) Tbk (2007)
Appointed as Director of BNI through the Extraordinary GMS • Deputy Regional Head, Padang, PT Bank Rakyat Indonesia
resolution dated February 20, 2020, notarized by the PT Bank (Persero) Tbk (2008)
Negara Indonesia (Persero) Tbk Extraordinary General Meeting of • Deputy Regional Head, Pekanbaru, PT Bank Rakyat Indonesia
Shareholders resolution No. 21 dated February 20, 2020, which (Persero) Tbk (2009)
received approval through OJK No. SR-171/PB.12/2020 dated June • Deputy Regional Head, Yogyakarta, PT Bank Rakyat Indonesia
25, 2020. (Persero) Tbk (2010)
• Head of Special Branch, PT Bank Rakyat Indonesia (Persero) Tbk
Term of Office (2012)
2020-2025 (First Period). • Regional Head, Banjarmasin, PT Bank Rakyat Indonesia (Persero)
Tbk (2014)
Concurrent Positions • Regional Head, Jakarta 2, PT Bank Rakyat Indonesia (Persero)
BNI: Tbk (2014)
No concurrent positions • Director, Funding & Distribution, Bank Tabungan Negara (2015)
• Director, Consumer, PT Bank Rakyat Indonesia (Persero) Tbk
Outside BNI: (2016)
Does not hold concurrent positions, whether as a member of the • Director, Institutional & SOE Relations, PT Bank Rakyat Indonesia
Board of Directors, member of the Board of Commissioners, or (Persero) Tbk (2017)
other positions • Institutional Banking Director, PT Bank Negara Indonesia
(Persero) Tbk (2020-2023)
Work Experience • Enterprise & Consumer Banking Director, PT Bank Negara
• Staf I, Surabaya Kaliasin Branch, PT Bank Rakyat Indonesia Indonesia (Persero) Tbk (2023-present)
(Persero) Tbk (1990)
• Staf II, Jakarta Kebayoran Baru Branch, PT Bank Rakyat Indonesia Affiliated Relationships
(Persero) Tbk (1992) Has no affiliated relationships with members of the Board of
• Marketing and Lending Officer, Kediri Branch, PT Bank Rakyat Directors, the Board of Commissioners or with the Majority and
Indonesia (Persero) Tbk (1994) Controlling Shareholders, either directly or indirectly with individual
• Branch Head, Mamuju Branch, PT Bank Rakyat Indonesia owners.
(Persero) Tbk (1997)
• Branch Head, Kendari Branch, PT Bank Rakyat Indonesia BBNI Share Ownership as at December 31, 2023
(Persero) Tbk (1999) 1,579,946 shares
• Branch Head, Lumajang Branch, PT Bank Rakyat Indonesia
(Persero) Tbk (2002)
• Branch Head, Kediri Branch, PT Bank Rakyat Indonesia (Persero)
Tbk (2005)
96 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
David Pirzada
Risk Management Director
Age
55 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Electrical Engineering from
Northeastern University, Boston, Massachusetts, USA (1990)
• Master of Business Administration in Business Management
from New Hampshire College, Manchester, USA (1992)
• Risk Management Competency Level 5 Certification issued
by Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of Work Experience
Directors • Account Officer, The Bank of Tokyo – Mitsubishi UFJ Ltd (1993)
Appointed as Director of BNI through the Extraordinary GMS • Senior Analyst, The Bank of Tokyo – Mitsubishi UFJ Ltd (2000)
resolution dated September 2, 2020, notarized by the PT Bank • Co-Head of Commercial Portfolio Administration, The Bank of
Negara Indonesia (Persero) Tbk Extraordinary General Meeting Tokyo – Mitsubishi UFJ Ltd (2005)
of Shareholders resolution No. 1 dated September 2, 2020, which • Head of Commercial Portfolio Administration, The Bank of Tokyo
received approval through OJK No. SR-386/PB.12/2020 dated – Mitsubishi UFJ Ltd (2007)
November 30, 2020. • Head of Credit and Market Middle Department, The Bank of
Tokyo – Mitsubishi UFJ Ltd (2009)
Term of Office • Head of Risk Administration Department, The Bank of Tokyo –
2020-2025 (First Period). Mitsubishi UFJ Ltd (2010)
• Country Chief Risk Officer, The Bank of Tokyo – Mitsubishi UFJ
Concurrent Positions Ltd (2015)
BNI: • SEVP, Wholesale Risk, PT Bank Mandiri (Persero) Tbk (2018)
No concurrent positions • Risk Management Director, PT Bank Negara Indonesia (Persero)
• Tbk (2020-Present)
Outside BNI:
Does not hold concurrent positions, whether as a member of the Affiliated Relationships
Board of Directors, member of the Board of Commissioners, or Has no affiliated relationships with members of the Board of
other positions Directors, the Board of Commissioners or with the Majority and
Controlling Shareholders, either directly or indirectly with individual
owners.
BBNI Share Ownership as at December 31, 2023
880,044 shares
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 97
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Silvano Winston Rumantir
Wholesale & International Banking Director
Age
45 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor of Art from University of Oregon, USA (1999)
• Master’s degree in Finance from Royal Melbourne
Institute of Technology, Australia (2001)
• Risk Management Competency Level 5 Certification
issued by Risk Management Certification Agency
(BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Associate Director, Project & Export Finance Asia Pacific, HSBC
Directors Hong Kong (2006)
Appointed as Director of BNI through the Extraordinary GMS • Director & Head of Debt Capital Market Indonesia, HSBC
resolution dated September 2, 2020, which was notarized by the Indonesia (2010)
PT Bank Negara Indonesia (Persero) Tbk Extraordinary General • President Director, PT Deutsche Securities Indonesia (2013)
Meeting of Shareholders resolution No. 1 dated September 2, 2020, • Director, Corporate Finance Indonesia Coverage, Deutsche Bank
which received approval through OJK No. SR-386/PB.12/2020 dated Singapore (2015)
November 30, 2020. • President Director, PT Mandiri Sekuritas (2016-2019)
• Senior Executive Vice President, Corporate Banking, PT Bank
Term of Office Mandiri (Persero) Tbk (2019)
2020-2025 (First Period). • Director, Finance and Strategy, PT Bank Mandiri (Persero) Tbk
(2019)
Concurrent Positions • Corporate and International Banking Director, PT Bank Negara
BNI: Indonesia (Persero) Tbk (2020–present)
No concurrent positions
Affiliated Relationships
Outside BNI: Has no affiliated relationships with members of the Board of
Does not hold concurrent positions, whether as a member of the Directors, the Board of Commissioners or with the Majority and
Board of Directors, member of the Board of Commissioners, or Controlling Shareholders, either directly or indirectly with individual
other positions owners.
Work Experience BBNI Share Ownership as at December 31, 2023
• Graduate Program Analyst, ANZ Melbourne (2001) 948,044 shares
• Senior Analyst, Bank & Country Risk Management, ANZ
Melbourne (2002)
• Manager, Structured Export Finance Australia, ANZ Sydney
(2004)
• Senior Manager, Structured Export Finance Asia Pacific, ANZ
Singapore (2005)
98 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Ronny Venir
Network & Services Director
Age
56 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Animal Husbandry from Universitas
Padjadjaran (1993)
• Master’s degree in Agribusiness from Institut Pertanian
Bogor (2000)
• Risk Management Competency Level 5 Certification issued
by Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • AVP, Small Business Marketing, Small Business Division, PT
Directors Bank Negara Indonesia (Persero) Tbk (2006)
Appointed as Director of BNI through the Extraordinary GMS • Team Leader, Business Development, Small Business Division,
resolution dated September 2, 2020, which was notarized by the PT Bank Negara Indonesia (Persero) Tbk (2007)
PT Bank Negara Indonesia (Persero) Tbk Extraordinary General • Head of Small Credit Center, Graha Pangeran Surabaya, PT Bank
Meeting of Shareholders resolution No. 1 dated September 2, 2020, Negara Indonesia (Persero) Tbk (2008)
which received approval through OJK No. SR-361/PB.12/2020 dated • Deputy Division Head, Small Business, PT Bank Negara
November 5, 2020. Indonesia (Persero) Tbk (2010)
• Deputy Division Head, Commercial & Smalll Business PT Bank
Term of Office Negara Indonesia (Persero) Tbk (2012)
2020-2025 (First Period). • Head of Business Banking, Palembang Regional Office, PT Bank
Negara Indonesia (Persero) Tbk (2014)
Concurrent Positions • Regional Head, 02 (Sumbar, Riau, Kepri) Regional Office, PT
BNI: Bank Negara Indonesia (Persero) Tbk (2016)
No concurrent positions • Regional Head, 12 (Jakarta Kota) Regional Office, PT Bank
Negara Indonesia (Persero) Tbk (2017)
Outside BNI: • Head of Small Business Division, PT Bank Negara Indonesia
Does not hold concurrent positions, whether as a member of the (Persero) Tbk (2018)
Board of Directors, member of the Board of Commissioners, or • SEVP, Medium Business, PT Bank Negara Indonesia (Persero)
other positions Tbk (2018)
• SEVP, Network, PT Bank Negara Indonesia (Persero) Tbk (2019)
Work Experience • Network and Services Director, PT Bank Negara Indonesia
• Manager, Business Marketing, Tebet Branch, PT Bank Negara (Persero) Tbk (2020-present)
Indonesia (Persero) Tbk (1995)
• Supervisor, Product marketing, Pecenongan Branch, PT Bank Affiliated Relationships
Negara Indonesia (Persero) Tbk (1997) Has no affiliated relationships with members of the Board of
• Manager, Business Services Coordination, PT Bank Negara Directors, the Board of Commissioners or with the Majority and
Indonesia (Persero) Tbk (2003) Controlling Shareholders, either directly or indirectly with individual
• Manager, Partnership & Program Marketing, PT Bank Negara owners.
Indonesia (Persero) Tbk (2004)
• Relationship Manager, Small Business Marketing, Small BBNI Share Ownership as at December 31, 2023
Business Division, PT Bank Negara Indonesia (Persero) Tbk 1,559,656 shares
(2005)
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 99
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Muhammad Iqbal
Institutional Banking Director
Age
50 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Industrial Technology from Institut
Teknologi Bandung (1996)
• Master’s degree In General Management from IPMI (2005)
• Master of Business Administration in Management from
Monash University, Australia (2006)
• Risk Management Competency Level 5 Certification issued
by Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Senior Vice President, Consumer Credit Policy & Portfolio
Directors Management (2009)
Appointed as Director of BNI through the Extraordinary GMS • Project Manager, Team Task Force Consumer & Retail Business
resolution dated September 2, 2020, notarized by the PT Bank Risk, PT Bank Negara Indonesia (Persero) Tbk (2011)
Negara Indonesia (Persero) Tbk Extraordinary General Meeting • Division Head, Consumer & Retail Business Risk, PT Bank
of Shareholders resolution No. 1 dated September 2, 2020, which Negara Indonesia (Persero) Tbk (2012)
received approval through OJK No. SR-376/PB.12/2020 dated • Division Head, Consumer Product Management, PT Bank Negara
November 19, 2020. Indonesia (Persero) Tbk (2015)
• Head of Consumer Banking Business, PT Bank Muamalat
Term of Office (Persero) Tbk (2016)
2020-2025 (First Period). • Senior Vice President, Group Head Retail Product & Transaction
Risk, PT Bank Mandiri (Persero) Tbk (2016)
Concurrent Positions • Senior Vice President, Group Head Small Medium Enterprise &
BNI Micro Risk, PT Bank Mandiri (Persero) Tbk (2017)
No concurrent positions • Senior Vice President, Group Head Small Medium Enterprise
Banking, PT Bank Mandiri (Persero) Tbk (2020)
Outside BNI • Enterprise & Commercial Banking Director, PT Bank Negara
Does not hold concurrent positions, whether as a member of the Indonesia (Persero) Tbk (2020-2023)
Board of Directors, member of the Board of Commissioners, or • Institutional Banking Director, PT Bank Negara Indonesia
other positions (Persero) Tbk (2023-present)
Work Experience Affiliated Relationships
• Business Analyst, Coca-Cola Amatil Indonesia (1997) Has no affiliated relationships with members of the Board of
• Senior Consultant, Accenture (1998) Directors, the Board of Commissioners or with the Majority and
• Marketing Planning & Analysis Manager, Bentoel Prima (2002) Controlling Shareholders, either directly or indirectly with individual
• General Manager, Business Insight Planning & Development, owners.
Charoen Pokphand (2003)
• Assistant Vice President, Head of Co-Brand Products, Citibank BBNI Share Ownership as at December 31, 2023
Indonesia (2005) 948,044 shares
• Senior Vice President, Cards Segment & Product, HSBC
Indonesia (2007)
100 From Local to Global
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Putrama Wahju Setyawan
Retail Banking Director
Age
54 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Bekasi, Indonesia
Education and/or Certification
• Bachelor’s degree in Forestry, Universitas Gadjah Mada,
Indonesia (1994)
• Master’s degree in Accounting, Universitas Gadjah Mada
Universitas, Indonesia (1996)
• Risk Management Competency Level 5 Certification issued
by Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of Work Experience
Directors • Senior Executive Vice President Medium Business of
Appointed as Director of BNI through the Extraordinary GMS PT Bank Negara Indonesia (Persero) Tbk (2016)
resolution dated August 31, 2022, notarized by the PT Bank • Medium Business Director of PT Bank Negara Indonesia
Negara Indonesia (Persero) Tbk Extraordinary General Meeting (Persero) Tbk (2016)
of Shareholders resolution No. 16 dated August 31, 2022, which • Corporate Business Director, PT Bank Negara Indonesia
received approval through OJK No. KEP-193/D.03/2022 dated (Persero) Tbk (2018)
December 19, 2022. • Treasury and International Director, PT Bank Negara Indonesia
(Persero) Tbk (2020)
Term of Office • President Director, PT Jaminan Kredit Indonesia (2022)
2022-2027 (First Period). • Treasury Director, PT Bank Negara Indonesia (Persero) Tbk (2022-
2023)
Concurrent Positions • Retail Banking Director, PT Bank Negara Indonesia (Persero) Tbk
BNI: (2023-present)
No concurrent positions
Affiliated Relationships
Outside BNI: Has no affiliated relationships with members of the Board of
Does not hold concurrent positions, whether as a member of the Directors, the Board of Commissioners or with the Majority and
Board of Directors, member of the Board of Commissioners, or Controlling Shareholders, either directly or indirectly with individual
other positions owners.
BBNI Share Ownership as at December 31, 2023
1,686,386 shares
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Mucharom
Human Capital & Compliance Director
Age
54 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Economics and Development Studies
from Universitas Gadjah Mada (1995)
• Master of Management in International Business from
Universitas Gadjah Mada (1997)
• Risk Management Competency Level 5 Certification issued
by Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of Work Experience
Directors • Deputy Head of Operational Risk Division (2008-2011)
Appointed as Director of BNI through the Extraordinary GMS • Head of Network & Service Makassar Regional Office (2011-2012)
resolution dated August 31, 2022, notarized by the PT Bank • Head of Makassar Regional Office (2012-2015)
Negara Indonesia (Persero) Tbk Extraordinary General Meeting • General Manager of BNI Hong Kong Overseas Branch Office
of Shareholders resolution No. 16 dated August 31, 2022, which (2015-2016)
received approval through OJK No. KEP-193/D.03/2022 dated • Head of Policy Governance Division (2016-2017)
December 19, 2022. • Head of Strategic Planning Division (2017-2021)
• Senior Vice President of Corporate Communication & Secretarial
Term of Office Division (2021-2022)
2022-2027 (First Period). • Human Capital & Compliance Director of PT Bank Negara
Indonesia (Persero) (2022-present)
Concurrent Positions
BNI: Affiliated Relationships
No concurrent positions. Has no affiliated relationships with members of the Board of
Directors, the Board of Commissioners or with the Majority and
Outside BNI: Controlling Shareholders, either directly or indirectly with individual
Does not hold concurrent positions, whether as a member of the owners.
Board of Directors, member of the Board of Commissioners, or
other positions BBNI Share Ownership as at December 31, 2023
348,008 shares
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Toto Prasetio
Technology & Operations Director
Age
57 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Diploma in Mechanical Engineering, University of
Stuttgart, Germany (1989)
• Diploma in Mechanical Engineering, University of
Stuttgart, Germany (1992)
• Risk Management Competency Level 5 Certification issued
by Risk Management Certification Agency (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of Work Experience
Directors • Head of IT Project Management, PT Bank Mega Tbk (2015-2017)
Appointed as Director of BNI through the Extraordinary GMS • Group Head IT Application Support, PT Bank Mandiri (Persero)
resolution dated August 31, 2022, notarized by the PT Bank Tbk (2017-2019)
Negara Indonesia (Persero) Tbk Extraordinary General Meeting • SEVP Information Technology, PT Bank Mandiri (Persero) Tbk
of Shareholders resolution No. 16 dated August 31, 2022, which (2019-2022)
received approval through OJK No. KEP-193/D.03/2022 dated • Technology & Operations Director, PT Bank Negara Indonesia
December 19, 2022. (Persero) Tbk (2022-present)
Term of Office Affiliated Relationships
2022-2027 (First Period). Has no affiliated relationships with members of the Board of
Directors, the Board of Commissioners or with the Majority and
Concurrent Positions Controlling Shareholders, either directly or indirectly with individual
BNI: owners.
No concurrent positions
BBNI Share Ownership as at December 31, 2023
Outside BNI: 89,856 shares
Does not hold concurrent positions, whether as a member of the
Board of Directors, member of the Board of Commissioners, or
other positions
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BOARD OF DIRECTORS’ AFFILIATED RELATIONSHIPS
Board of Directors’ Affiliated Relationships Table
Financial, Familial, and Management Relationships of the Board of Directors
Familial Relationship With Financial Relationship With Management
Relations
Board of Majority and Board of Majority and at BNI,
Board of Board of Subsidiaries
Name Position Commis Controlling Commis Controlling
Directors Directors and Affiliated
sioners Shareholder sioners Shareholder Companies
Yes No Yes No Yes No Yes No Yes No Yes No Yes No
Royke Tumilaar President Director √ √ √ √ √ √ √
Vice President
Adi Sulistyowati √ √ √ √ √ √ √
Director
Novita Widya Anggraini Finance Director √ √ √ √ √ √ √
Digital and
Integrated
Corina Leyla Karnalies √ √ √ √ √ √ √
Transaction Banking
Director
Enterprise and
Sis Apik Wijayanto Commercial and √ √ √ √ √ √ √
Banking Director
Risk Management
David Pirzada √ √ √ √ √ √ √
Director
Wholesale and
Silvano Winston Rumantir International √ √ √ √ √ √ √
Banking Director
Network and
Ronny Venir √ √ √ √ √ √ √
Services irector
Institutional
Muhammad Iqbal √ √ √ √ √ √ √
Banking Director
Putratama Wahju Retail Banking
√ √ √ √ √ √ √
Setyawan Director
Human Capital
Mucharom and Compliance √ √ √ √ √ √ √
Director
Technology and
Toto Prasetio √ √ √ √ √ √ √
Operations Director
* Directly or indirectly
CHANGES IN THE BOARD OF DIRECTORS MEMBERS COMPOSITION AND REASONS FOR THE CHANGES
During 2023, the BNI Board of Directors members composition did not change. However, there were changes to the
nomenclature of the Board of Directors based on the decisions of the Annual GMS on March 15, 2023. Changes to the
nomenclature of Board of Directors members were as follows:
1. The AGMS dated March 15, 2023 decisions:
a. Changing the nomenclature of the BNI Board of Directors members positions as follows:
No Before After
1 Treasury Director Retail Banking Director
2 Consumer Banking Director Digital and Integrated Transaction Banking Director
3 Corporate and International Banking Director Wholesale and International Banking Director
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b. Transferring the assignment of the following members of the BNI Board of Directors:
No Name Before After
1 Putrama Wahju Setyawan Treasury Director Retail Banking Director
2 Corina Leyla Karnalies Consumer Banking Director Digital and Integrated Transaction Banking Director
Silvano Winston
3 Corporate and International Banking Director Wholesale and International Banking Director
Rumantir
4 Muhammad Iqbal Enterprise and Commercial Banking Director Institutional Banking Director
5 Sis Apik Wijayanto Institutional Banking Director Enterprise and Commercial Banking Director
As a result, the Board of Directors composition as of December 31, 2023 was 12 (twelve) people consisting of 1 (one)
President Director, 1 (one) Vice President Director, and 10 (ten) Directors. The composition and basis for appointing
members of the Board of Directors can be seen in the table below.
Board of Directors Composition and Basis of Appointment
No Name Position Domicile Basis of Appointment Period in Office Effective Date
President EGMS Decision dated 2020-2025 (First November 19,
1 Royke Tumilaar Jakarta
Director September 2, 2020 Period) 2020
Vice President EGMS Decision dated 2020-2025 November 5,
2 Adi Sulistyowati Jakarta
Director September 2, 2020 (Second Period) 2020
Novita Widya EGMS Decision dated 2020-2025 (First November 19,
3 Finance Director Jakarta
Anggraini September 2, 2020 Period) 2020
Digital and
Corina Leyla Integrated AGMS Decision dated February 2020-2025 (First
4 Jakarta June 25, 2020
Karnalies Transaction 20, 2020 Period)
Banking Director
Enterprise and
Sis Apik AGMS Decision dated February 2020-2025 (First
5 Commercial and Jakarta June 25, 2020
Wijayanto 20, 2020 Period)
Banking Director
Risk
EGMS Decision dated 2020-2025 (First November 30,
6 David Pirzada Management Jakarta
September 2, 2020 Period) 2020
Director
Wholesale and
Silvano Winston EGMS Decision dated 2020-2025 (First November 30,
7 International Jakarta
Rumantir September 2, 2020 Period) 2020
Banking Director
Network & EGMS Decision dated 2020-2025 (First November 5,
8 Ronny Venir Jakarta
Services Director September 2, 2020 Period) 2020
Institutional EGMS Decision dated 2020-2025 (First November 19,
9 Muhammad Iqbal Jakarta
Banking Director September 2, 2020 Period) 2020
Putrama Wahju Retail Banking EGMS Decision dated August 2022-2027 December 23,
10 Bekasi
Setyawan Director 31, 2022 (Second Period) 2022
Human Capital
EGMS Decision dated August 2022-2027 (First
11 Mucharom and Compliance Jakarta January 6, 2023
31, 2022 Period)
Director
Technology
EGMS Decision dated August 2022-2027 (First January 19,
12 Toto Prasetio & Operations Jakarta
31, 2022 Period) 2023
Director
*) The Board of Directors took office after obtaining FSA approval for the Fit and Proper Test. This is in accordance with OJK Regulation No. 27/ POJK.03/2016 dated July 22,
2016 concerning Fit and Proper Test for Main Parties of Financial Services Institutions.
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Board of Commissioners’
Profiles
Pradjoto*
President Commissioner / Independeny Commissioner
Age
70 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Law from Universitas Indonesia (1981)
• Master of Economics from University of Kyoto, Japan (1988)
• Level 2 Risk Management Competency Certification by the
Risk Management Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of Term of Office
Commissioners Following previous term of office as Vice President Commissioner/
Appointed for the first time as Vice President Commissioner/ Independent Commissioner of BNI, namely 2020-2025 (First Period).
Independent Commissioner of BNI through the decision of the
Annual GMS dated March 17, 2015, as notarized through the Deed Concurrent Positions
of the Annual General Meeting of Shareholders of PT Bank Negara BNI:
Indonesia (Persero) Tbk dated March 17, 2015 and received approval 1. Chairman of the Nomination and Remuneration Committee
from the Financial Services Authority (FSA ) on May 22, 2015. His 2. Chairman of the Intergrated Governance Committee
position ended through the decision of the 2017 Annual GMS.
Other Companies/Institutions:
Reappointed as Vice President Commissioner/Independent 1. Founder/Leader, Pradjoto & Associates - Advocates and Legal
Commissioner of BNI through the decision of the Annual GMS Consultant (1994-present)
dated February 20, 2020, as notarized by the Deed of the Annual 2. Member of Himpunan Konsultan Hukum Pasar Modal (HKHPM)
General Meeting of Shareholders of PT Bank Negara Indonesia (2000-present)
(Persero) Tbk No. 21 dated February 20, 2020, and received approval 3. Member of the Indonesian Advocates Association (Peradi)
from the Financial Services Authority (FSA) on June 17, 2020. (2005-present)
4. Board of Ethics for Risk Management Certification Agency
Then appointed as President Commissioner/Independent (BSMR) (2005-present)
Commissioner of BNI through the decision of the Extraordinary 5. Chairman of the Banking Business Ethics Supervisory Board,
GMS on September 19, 2023, as notarized by the Deed of the Association of National Banks (PERBANAS) (2009-present)
Extraordinary General Meeting of Shareholders of PT Bank 6. Member of the Supervisory Board of the Indonesian Bankers
Negara Indonesia (Persero) Tbk No. 17 dated September 19, 2023, Association (IBI) (2011-present)
and currently in the FSA Fit and Proper Test process as President
Commissioner/Independent Commissioner.
*In the fit and proper test process as President Commissioner/Independent Commissioner
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Work Experience • Advisory Board of the Indonesian Bankers Association (IBI)
• Professional Staff of PT Bank Pembangunan Indonesia (Bapindo) (2007-2011)
(1981-1995) • Senior Advisor to Bank International Indonesia (2009-2011)
• Research Associate Institute of Economic Research Kyoto • Chairman of the Supervisory Board of Banking Business Ethics,
University (1993-1994) Association of National Banks (Perbanas) (2009-present)
• Founder/Leader, Pradjoto & Associates - Advocates and Legal • Member of the Supervisory Agency for the Indonesian Bankers
Consultant (1994-present) Association (IBI) (2011-present)
• Lecturer in Management, Postgraduate Program Management, • Vice President Commissioner / Independent Commissioner of
Universitas Atmajaya Yogyakarta (1999-2001) PT Bank Negara Indonesia (Persero), Tbk (2015-2017)
• Member of the National Ombudsman Commission (2000) • Vice President Commissioner / Independent Commissioner of
• Member of Himpunan Konsultan Hukum Pasar Modal (HKHPM) PT Bank Negara Indonesia (Persero), Tbk (2020-2023)
(2000-present) • President Commissioner / Independent Commissioner of
• Member of the Joint Corruption Crime Team (TGTPK) (2000- PT Bank Negara Indonesia (Persero), Tbk (2023-present)
2001)
• Chairman of IBRA Ombudsman (2001-2002) Affiliated Relationships
• Independent Commissioner of Bank Internasional Indonesia Has no affiliated relationships with the other members of the Board
(2002-2006) of Commissioners, the Board of Directors or with the Majority and
• Member of the Indonesian Advocates Association (Peradi) Controlling Shareholders.
(2005-present)
• Board of Ethics for Risk Management Certification Agency Statement of Independence
(BSMR) (2005-present) The Independence Statement of Independent Commissioner is
• Independent Commissioner of PT Bank Mandiri (Persero) Tbk disclosed in the Corporate Governance Chapter of this Annual
(2005-2015) Report.
• Chairman of the Code of Ethics Board of the National Banks
Association (Perbanas) (2006-2009) BBNI Share Ownership as at December 31, 2023
Does not own BBNI shares
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Pahala Nugraha Mansury*
Vice President Commissioner
Age
52 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor of Economics degree from Universitas Indonesia
(1994)
• Master of Business Administration at the Leonard N. Stern
School of Business, America (1999)
• Level 5 Risk Management Competency Certification by the
Risk Management Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Finance & Strategy Director, PT Bank Mandiri (Persero) Tbk (2010-
Commissioners 2015)
Appointed for the first time as Vice President Commissioner of BNI • Treasury & Market Director, PT Bank Mandiri (Persero) Tbk (2015-
through the decision of the Extraordinary GMS dated September 19, 2017)
2023, as notarized through the Deed of the Extraordinary General • President Director, PT Garuda Indonesia (Persero) Tbk (2017-2018)
Meeting of Shareholders of PT Bank Negara Indonesia (Persero) Tbk • President Commissioner, PT Citilink Indonesia (2017-2018)
No. 17 dated September 19, 2023, and is currently in the FSA Fit and • Finance Director, PT Pertamina (Persero) (2018-2019)
Proper Test process. • President Director, PT Bank Tabungan Negara (Persero) (2019-
2020)
Term of Office • Deputy Minister of SOEs, Ministry of SOEs (2020-2023)
2023-2028 (First Period) • Vice President Commissioner, PT Pertamina (Persero) (2021-2023)
• Deputy Minister of Foreign Affairs, Ministry of Foreign Affairs
Concurrent Positions (2023-present)
BNI: • Vice President Commissioner, PT Bank Negara Indonesia
1. Member of the Risk Monitoring Committee (Persero) Tbk (2023-present)
2. Member of the Nomination and Remuneration Committee
Affiliated Relationships
Other Companies/Institutions: Has no affiliated relationships with the other members of the Board
Deputy Minister of Foreign Affairs, Ministry of Foreign Affairs (2023- of Commissioners, the Board of Directors or with the Majority and
present) Controlling Shareholders.
Work Experience BBNI Share Ownership as at December 31, 2023
• Senior Vice President Economic & Financial Research Group Does not own BBNI shares
Head, PT Bank Mandiri (Persero) Tbk (2003-2005)
• Senior Vice President Corporate Development Group Head,
PT Bank Mandiri (Persero) Tbk (2005-2006)
• Senior Vice President Accounting Group Head and concurrently
Senior Vice President Change Management Office, PT Bank
Mandiri (Persero) Tbk (2005)
• Executive Vice President Finance & Strategy Coordinator,
PT Bank Mandiri (Persero) Tbk (2006-2010)
*In the FSA fit and proper test process as Vice President Commissioner
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Askolani
Commissioner
Age
57 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Economics from Universitas Sriwijaya
Palembang (1990)
• Magister of Art in Economics and Banking from University of
Colorado, Denver, USA (1999)
• Level 1 Risk Management Competency Certification by the
Risk Management Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Head of PNBP Policy, Central Budget Policy, at, Ministry of
Commissioners Finance Fiscal Policy Agency Keuangan (November 2008)
Appointed as Commissioner at the EGMS on August 30; 2019, based • Head of State Budget Policy Center Central Budget Policy Center,
on the EGMS Deed of Minutes No. 55 dated August 30, 2019 and at Fiscal Policy Agency Ministry of Finance (2008)
received approval from the Financial Services Authority (FSA) on • Director at PNPB Directorate, General of Budget Directorate at
December 20, 2019 Ministry of Finance (2011)
• Alternate Governor of the OPEC Fund for Indonesia OPEC Fund
Term of Office for International Development (OFID), Austria (2011-2014)
2019-2024 (First Period) • Governor of the OPEC Fund for Indonesia OPEC Fund for
International Development (OFID), Austria (2014)
Concurrent Positions • Commissioner, PT Pertamina Gas (2012-2013)
BNI : • Commissioner, PT Angkasa Pura I (Persero) (2013-2014)
1. Member of the Nomination and Remuneration Committee • Commissioner, PT Bank Mandiri (Persero) Tbk (2014-2019)
2. Member of the Integrated Governance Committee • Director General of Budget, Directorate General of Budget, the
Ministry of Finance (2013-2021)
Other Companies/Institutions: • Director General of Customs and Excise Directorate, General
Director General of Customs and Excise Directorate, General Customs and Excise, Ministry of Finance (2021-present)
Customs and Excise, Ministry of Finance (2021-present) • Commissioner, PT Bank Negara Indonesia (Persero), Tbk
(2019-present)
Work Experience
• Routine Expenditure Analysis Division Head at State Expenditure Affiliated Relationships
Analyst Center, Fiscal Analysis Agency, Ministry of Finance Has no affiliated relationships with the other members of the Board
(2003) of Commissioners, the Board of Directors or with the Majority and
• Master’s Program and Public Policy Planning, Post Graduate Controlling Shareholders.
Lecturer, Faculty of Economics, Universitas Indonesia (2003-
2007) BBNI Share Ownership as at December 31, 2023
• Head of Sub-directorate at Central Government Expenditure 809,086 shares
Budgeting, Directorate of State Budget Preparation, Directorate
General of Budget and Fiscal Balance, Ministry of Finance (2004)
• Formulation of State Expenditure Policy Recommendations
Division Head, Center for State Expenditure Policy, at Fiscal
Policy Agency, Ministry of Finance (2006).
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Susyanto
Commissioner
Age
61 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Bogor, Indonesia
Education and/or Certification
• Bachelor’s degree in Law, Universitas Kediri (1986)
• Master’s in Humanities, STIE IBLAM Jakarta (2001)
• Level 1 Risk Management Competency Certification
by the Risk Management Certification Body (BSMR)
(2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Head of Center for State Asset Management, Secretariat General
Commissioners at Ministry of Energy and Mineral Resources (2010-2011)
Appointed for the first time as Commissioner of BNI at the AGMS • Bureau Head, Legal and Public Relations, Secretariat General at
on February 20, 2020, based on the AGMS Deed of Minutes No. 21 Ministry of Energy and Mineral Resources (2011-2013)
dated February 20, 2022 and received approval from the Financial • Bureau Head, Legal, Secretariat General at Ministry of Energy
Services Authority (FSA) on July 27, 2020. and Mineral Resources (2013-2015)
• Secretary to the Directorate General of Oil and Gas (2015-2018)
Term of Office • Head of Center for State Asset Management, Secretariat General
2020-2025 (First Period) at Ministry of Energy and Mineral Resources (2018-2020)
• Secretary to the Ministry of State Owned Enterprises (2020-2023)
Concurrent Positions • Commissioner, PT Bank Negara Indonesia (Persero), Tbk
BNI: (2020-present)
1. Member of the Nomination and Remuneration Committee
2. Member of the Integrated Governance Committee Affiliated Relationships
Has no affiliated relationships with the other members of the Board
Other Companies/Institutions: of Commissioners, the Board of Directors or with the Majority and
Does not hold other concurrent positions Controlling Shareholders.
Work Experience BBNI Share Ownership as at December 31, 2023
• Head of Sub-section, Legal Documentation, Directorate General 634,594 shares
of Oil and Gas (1998-1999)
• Head of Sub-Section, Draft Bill Formulation, Directorate General
of Oil and Gas (1999-2001)
• Head of Sub-division Considerations of the Directorate General
of Oil and Gas Directorate General of Oil and Gas( 2001-2006)
• Head of Section, Legal and Laws, Directorate General of Oil and
Gas (2006-2010)
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Fadlansyah Lubis
Commissioner
Age
56 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Law, Universitas Padjadjaran, Indonesia
(1992)
• Master’s degree in Law, University of Wellington, New
Zealand (2002)
• Doctorate in Law, Universitas Gadjah Mada, Indonesia (2012)
• Level 1 Risk Management Competency Certification by the
Risk Management Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Assistant Deputy for Law, Human Rights, State Apparatus,
Commissioners Communication and Informatics, Deputy for Politics, Law and
Appointed for the first time as Commissioner at the EGMS on Security, RI Cabinet Secretariat (2011-2014)
August 31, 2022, based on the EGMS Deed of Minutes No. 16 dated • Commissioner of PT Perkebunan Nusantara VI (2013-2016)
August 31, 2022 and received approval from the Financial Services • Expert Staff for Law and International Relations, RI Cabinet
Authority (FSA) on December 23, 2022. Secretariat (2014-2015)
• Deputy for Politics, Law and Security, RI Cabinet Secretariat
Term of Office (2015-2021)
2022-2027 (First Period) • Commissioner of PT Pegadaian (2016-2021)
• President Commissioner of PT Pupuk Kujang (2021-2022)
Concurrent Positions • Deputy Cabinet Secretary, RI Cabinet Secretariat (2021-present)
BNI: • Commissioner of PT Bank Negara Indonesia (Persero) Tbk
1. Member of the Risk Monitoring Committee (2022-present)
2. Member of the Nomination and Remuneration Committee
Affiliated Relationships
Other Companies/Institutions: Has no affiliated relationships with the other members of the Board
Deputy Cabinet Secretary, RI Cabinet Secretariat (2021-present) of Commissioners, the Board of Directors or with the Majority and
Controlling Shareholders.
Work Experience
• Head of the State Apparatus Section, Bureau of the State BBNI Share Ownership as at December 31, 2023
Apparatus, Regional Government and People’s Welfare, Deputy 43,484 shares
Cabinet Secretary for Legal Affairs, RI Cabinet Secretariat (2006-
2011)
• Head of Communication and Informatics at Assistant Deputy
for Law, Human Rights, State Apparatus, Communication and
Informatics, Deputy for Politics, Law and Security, Republic of
Indonesia Cabinet Secretariat (2011)
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Robertus Billitea
Commissioner
Age
57 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Depok, Indonesia
Education and/or Certification
• Bachelor of Law Degree from Universitas Krisnadwipayana
(1990)
• Masters Degree in Business Law from Universitas
Padjadjaran (2009)
• Risk Management Provisioning Program for Candidate
Commissioners by Lembaga Pengembangan Perbankan
Indonesia (LPPI) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Executive Director of Legal Affairs, Deposit Insurance
Commissioners Corporation (2012-2019)
Appointed for the first time as Commissioner at the AGMS on • Independent Commissioner, PT Bank Mandiri (Persero) Tbk
September 19, 2023, based on the AGMS Deed of Minutes No. 15 (2019-2020)
dated March 15, 2023 and received approval from the Financial • President Director, PT Bahana Pembinaan Usaha Indonesia
Services Authority (FSA) on September 11, 2023 (Persero) (2020-2023)
• President Commissioner, PT Bahana Sekuritas (2020-2023)
Term of Office • Commissioner, PT Bahana Mitra Investa (2020-2023)
2023-2028 (First Period). • Deputy for Law and Legislation, Ministry of State-Owned
Enterprises (2023-present)
Concurrent Positions • Commissioner, PT Bank Negara Indonesia (Persero) Tbk
BNI: (2023-present)
1. Member of the Nomination and Remuneration Committee
2. Member of the Integrated Governance Committee Affiliated Relationships
Has no affiliated relationships with the other members of the Board
Other Companies/Institutions: of Commissioners, the Board of Directors or with the Majority and
Deputy for Law and Legislation at the Ministry of State-Owned Controlling Shareholders.
Enterprises (2023-present)
BBNI Share Ownership as at December 31, 2023
Work Experience 42,400 shares
• Litigation Lawyer, Soemarjono Herman & Rekan Law Firm (1991-
1994)
• Senior Legal Officer, PT BBL Dharmala Finance Tbk. Subsidiary of
Bangkok Bank Limited (1994-1996)
• Legal Head, PT Profilindo Finance/Nexus Group (1996-1998)
• Corporate Secretary, Nexus Group (1996-1999)
• Legal Director, Indonesian Restructuring Banking Agency/BPPN
(1999-2004)
• Board of Commisioner PT Bank Lippo Tbk (2002-2004)
• Founder/Senior Partner, Law Firm Radjiman Billitea & Partner
(2004-2012)
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Erwin Rijanto Slamet
Independent Commissioner
Age
65 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Economics from Universitas Gadjah
Mada (1983)
• Postgraduate Master of Science degree in Economics from
University of Illinois, USA (1989)
• Level 2 Risk Management Competency Certification by the
Risk Management Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Deputy Director of Bank Supervision Department 3, Bank Indonesia
Commissioners (2006-2008)
Appointed for the first time as Independent Commissioner of BNI in • Director of Bank Supervision Department 3, Bank Indonesia (2008-
the Annual General Meeting of Shareholders (AGMS) on March 29, 2010)
2021, based on Deed of the AGMS No. 14 dated March 29, 2021, and • Director of Singapore Representative Office, Bank Indonesia (2010-
received approval from the Financial Services Authority (FSA) on 2013)
August 6, 2021. • Executive Director, Bank Indonesia Financial System Surveillance
Department (2013-2015)
Term of Office • Executive Director, Bank Indonesia’s Macroprudential Policy
2021-2026 (First Period). Department (2015-2017)
• Board of Commissioners Member, Deposit Insurance Corporation
Concurrent Positions Ex Officio Bank Indonesia Deposit Insurance Corporation (2017-
BNI: 2020)
1. Member of the Risk Monitoring Committee • Deputy Governor, Bank Indonesia (2015-2020)
2. Member of the Nomination and Remuneration Committee • President Commissioner, PT Aplikasinusa Lintasarta (2021-2023)
• Independent Commissioner, PT Bank Negara Indonesia (Persero)
Other Companies/Institutions: Tbk (2021-present)
Has no other concurrent positons
Affiliated Relationships
Work Experience Has no affiliated relationships with the other members of the Board
• Head of Section for Supervision of Non-Foreign Exchange of Commissioners, the Board of Directors or with the Majority and
Banks, Bank Indonesia (1992-1996) Controlling Shareholders.
• Deputy Department Head of Foreign Affairs/INDRA, Bank
Indonesia (1996-1999) Statement of Independence
• Bank Indonesia 1 Bank Audit Division Head (1999-1999) The Independence Statement of Independent Commissioner is
• Executive Analyst, Department of Bank Research and Regulation, disclosed in the Corporate Governance Chapter of this Annual Report.
Bank Indonesia (1999-2001)
• Public Relations Bureau Head for the Governor of Bank BBNI Share Ownership as at December 31, 2023
Indonesia (2001-2004) Does not own BBNI shares
• Deputy Bureau Head for the Governor of Bank Indonesia (2004-
2005)
• Principal Researcher, Department of Bank Research and
Regulation, Bank Indonesia (2005-2006)
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Sigit Widyawan
Independent Commissioner
Age
58 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Solo, Indonesia
Education and/or Certification
• Bachelor’s degree in Economics from Universitas Negeri
Sebelas Maret (1988)
• Master’s degree in Accounting from Universitas Indonesia
(2001)
• Level 2 Risk Management Competency Certification by
the Risk Management Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of Work Experience
Commissioners • Head of Taxes, Concrete Products Division, PT Wijaya Karya
Appointed for the first time as Independent Commissioner of BNI at (Persero) (1994-1997)
the Annual General Meeting of Shareholders (AGMS) on March 20, • Head of Finance, PT Wijaya Karya Beton (1997-2001)
2018, based on Deed of the AGMS No. 37 dated March 20, 2018, and • Director of Finance, Roda Jati Grup (2002-2013)
received approval from the Financial Services Authority (FSA) on • Director, PT Roda Pembangunan Jaya (2003-2015)
September 7, 2018. • Independent Commissioner, PT Jasamarga (Persero) Tbk (2015-
2018)
Reappointed as as Independent Commissioner of BNI based on • Independent Commissioner, PT Bank Negara Indonesia
the decision of the Annual GMS dated March 15 2023, which was (Persero), Tbk (2018-present)
notarized through the Deed of the AGMS No. 15 dated March 15,
2023. Affiliated Relationships
Has no affiliated relationships with the other members of the Board
Term of Office of Commissioners, the Board of Directors or with the Majority and
2018-2023 (First Period) Controlling Shareholders.
2023-2028 (Second Period)
Statement of Independence
Concurrent Positions The Independence Statement of Independent Commissioner is
BNI: disclosed in the Corporate Governance Chapter of this Annual
1. Member of the Audit Committee Report.
2. Member of the Nomination and Remuneration Committee
BBNI Share Ownership as at December 31, 2023
Other Companies/Institutions: Does not own BBNI shares
Does not hold any concurrent positions
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Asmawi Syam
Independent Commissioner
Age
68 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Economics from Universitas
Hasanuddin (1979)
• Master’s degree in Management from Universitas
Padjadjaran (2003)
• Level 5 Risk Management Competency Certification by the
Risk Management Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Division Head, General Business, PT Bank Rakyat Indonesia
Commissioners (2005-2007)
Appointed for the first time as Independent Commissioner of BNI in • Director, Institutional and SOE Business, PT Bank Rakyat
the Annual General Meeting of Shareholders (AGMS) in February Indonesia (2007-2015)
20, 2020, based on Deed of AGMS No. 21 dated February 20, 2020, • President Director, PT Bank Rakyat Indonesia (2015-2017)
and received approval from the Financial Services Authority (FSA) • President Director, PT Askrindo (Persero) (2017-2018)
on June 17, 2020. • President Director, PT Asuransi Jiwasraya (Persero) (2018)
• Special Staff to the Minister of SOE, Ministry of SOE (2019)
Term of Office • President Commissioner Non-Independent, PT Bank Tabungan
2020-2025 (First Period) Negara (Persero), Tbk (2019)
• Independent Commissioner, PT Bank Negara Indonesia
Concurrent Positions (Persero), Tbk (2020-present)
BNI:
1. Chair of the Audit Committee Affiliated Relationships
2. Mamber of the Nomination and Remuneration Committee Has no affiliated relationships with the other members of the Board
of Commissioners, the Board of Directors or with the Majority and
Other Companies/Institutions: Controlling Shareholders.
Does not hold any concurrent positions
Statement of Independence
Work Experience The Independence Statement of Independent Commissioner is
• Division Head, Corporate, PT Bank Rakyat Indonesia (1995- 1996) disclosed in the Corporate Governance Chapter of this Annual
• Regional Head, Denpasar, PT Bank Rakyat Indonesia (1999- 2001) Report.
• Regional Head, Bandung, PT Bank Rakyat Indonesia (2001- 2003)
• Division Head, Consumer Banking, PT Bank Rakyat Indonesia BBNI Share Ownership as at December 31, 2023
(2003-2005) Does not own BBNI shares
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 115
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Septian Hario Seto
Independent Commissioner
Age
39 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Bachelor’s degree in Accounting from Universitas
Indonesia (2006)
• Post-Graduate degree in International Finance from
SKEMA Business School (2008)
• Level 2 Risk Management Competency Certification by
the Risk Management Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of • Director/Echelon II at Office of the Staff to the President of the
Commissioners Republic of Indonesia (2015)
Appointed for the first time as Independent Commissioner of BNI in • Expert Staff to the Coordinating Minister for Political, Legal and
the Annual General Meeting of Shareholders (AGMS) on February Security Affairs (2015-2016)
20, 2020, based on Deed of the AGMS No. 21 dated February 20, • Expert Staff to the Coordinating Minister for Maritime Affairs
2020, and received approval from the Financial Services Authority (2016)
(FSA) on August 14, 2020 • Special Staff to the Coordinating Minister for Maritime Affairs
and Investment (2018-2020)
Term of Office • Deputy of Investment and Mining Coordination at the
2020-2025 (First Period) Coordinating Ministry for Maritime Affairs and Investment
(2020-present)
Concurrent Positions • Independent Commissioner, PT Bank Negara Indonesia (Persero)
BNI : Tbk (2020-present)
1. Member of the Risk Monitoring Committee
2. Member of the Nomination and Remuneration Committee Affiliated Relationships
Has no affiliated relationships with the other members of the Board
Other Companies/Institutions: of Commissioners, the Board of Directors or with the Majority and
Deputy of Investment and Mining Coordination at the Coordinating Controlling Shareholders.
Ministry for Maritime Affairs and Investment (2020-present)
Statement of Independence
Work Experience The Independence Statement of Independent Commissioner is
• Lecturer and Researcher, Accounting Department, Faculty of disclosed in the Corporate Governance Chapter of this Annual
Economics and Business, Universitas Indonesia (2004-2010) Report.
• Investment Analyst, Ciptadana Asset Management (2005-2006)
• Junior Auditor, PriceWaterhouseCoopers (PwC) Indonesia (2006- BBNI Share Ownership as at December 31, 2023
2007) Does not own BBNI shares
• Analyst, Principia Management Group (2009-2011)
• Finance Manager, PT Toba Bara Sejahtera Tbk (2011-2015)
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Iman Sugema
Independent Commissioner
Age
59 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Bogor, Indonesia
Education and/or Certification
• Bachelor’s degree in Agribusiness from Institut Pertanian
Bogor (1987)
• Master’s degree in Economics from University of New
England (1992)
• Ph.D in Economics from Australian National University (2000)
• Level 2 Risk Management Competency Certification by the
Risk Management Certification Body (BSMR) (2023)
• Indonesian Internal Audit Practitioner Certification by The
Institute of Internal Auditors Indonesia (2023)
Position History:
Legal Basis of Appointment as Member of the Company’s Board of Work Experience
Commissioners • Senior Lecturer at Institut Pertanian Bogor (1990-present)
Appointed for the first time as Independent Commissioner of BNI in • President Commissioner/Independent Commissioner,
the Annual General Meeting of Shareholders (AGMS) on February PT Perusahaan Gas Negara (Persero), Tbk (2015-2016)
20, 2020, based on Deed of the AGMS No. 21 dated February 20, • Commissioner, PT Bank Tabungan Negara (Persero) Tbk (2016-
2020, and received approval from the Financial Services Authority 2019)
(FSA) on August 14, 2020 • Independent Commissioner, PT Bank Negara Indonesia
(Persero), Tbk (2020-Present)
Term of Office
2020-2025 (First Period) Affiliated Relationships
Has no affiliated relationships with the other members of the Board
Concurrent Positions of Commissioners, the Board of Directors or with the Majority and
BNI: Controlling Shareholders.
1. Member of the Audit Committee
2. Member of the Nomination and Remuneration Committee Statement of Independence
The Independence Statement of Independent Commissioner is
Other Companies/Institutions: disclosed in the Corporate Governance Chapter of this Annual
Senior Lecturer at Institut Pertanian Bogor (1990-present) Report.
BBNI Share Ownership as at December 31, 2023
Does not own BBNI shares
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BOARD OF COMMISSIONERS’ AFFILIATED RELATIONSHIPS
Board of Commissioners’ Affiliated Relationships Table
Financial, Familial, and Management Relationships of the Board of Directors
Familial Relationship With Financial Relationship With Management
Relations
Majority Majority at BNI,
Board of Board of
Board of and Board of and Subsidiaries
Name Position Commis Commis
Directors Controlling Directors Controlling and Affiliated
sioners sioners
Shareholder Shareholder Companies
Yes No Yes No Yes No Yes No Yes No Yes No Yes No
President
Commissioner/
Pradjoto √ √ √ √ √ √ √
Independent
Commissioner
Vice President
Pahala Nugraha Mansury √ √ √ √ √ √ √
Commissioner
Independent
Sigit Widyawan √ √ √ √ √ √ √
Commissioner
Askolani Commissioner √ √ √ √ √ √ √
Independent
Asmawi Syam √ √ √ √ √ √ √
Commissioner
Susyanto Commissioner √ √ √ √ √ √ √
Independent
Iman Sugema √ √ √ √ √ √ √
Commissioner
Independent
Septian Hario Seto √ √ √ √ √ √ √
Commissioner
Independent
Erwin Rijanto Slamet √ √ √ √ √ √ √
Commissioner
Fadlansyah Lubis Commissioner √ √ √ √ √ √ √
Robertus Billiitea Commissioner √ √ √ √ √ √ √
* Directly or indirectly
CHANGES INTHE BOARD OF COMMISSIONERS MEMBERS COMPOSITION AND REASONS FORTHE CHANGES
During 2023, there were 2 (two) changes to the Board of Commissioners members composition, based on the decisions
of the AGMS on March 15, 2023 and the EGMS on September 19, 2023. Changes to the nomenclature of Board of
Commissioners members was as follows:
Composition of the Board of Commissioners for the Period January 1, 2023 – March 15, 2023
The composition of the Board of Commissioners for the period January 1, 2023 – March 15, 2023 was 10 (ten) people
consisting of 1 (one) President Commissioner who was also an Independent Commissioner, 1 (one) Vice President
Commissioner who was also an Independent Commissioner, 5 (five) Independent Commissioners and 3 (three)
Commissioners. The composition and basis for appointing members of the Board of Commissioners can be seen in the
table below.
Composition and Basis for Appointing the Board of Commissioners for the Period January 1, 2023 – March 15, 2023
No Name Position Domicile Basis of Appointment Effective Date*
Agus Dermawan Wintarto President Commissioner/ AGMS Decision on February
1 Jakarta June 17, 2020
Martowardojo Independent Commissioner 20, 2020
Vice President
AGMS Decision on February
2 Pradjoto Commissioner/ Independent Jakarta June 17, 2020
20, 2020
Commissioner
AGMS Decision on March 20,
3 Sigit Widyawan Independent Commissioner Solo September 7, 2018
2018
EGMS Decision on August 30,
4 Askolani Commissioner Jakarta December 20, 2019
2019
EGMS Decision on August 31,
5 Fadlansyah Lubis Commissioner Jakarta December 23, 2022
2022
AGMS Decision on February
6 Asmawi Syam Independent Commissioner Jakarta June 17, 2020
20, 2020
AGMS Decision on February
7 Iman Sugema Independent Commissioner Bogor August 14, 2020
20, 2020
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No Name Position Domicile Basis of Appointment Effective Date*
AGMS Decision on February
8 Susyanto Commissioner Bogor July 27, 2020
20, 2020
AGMS Decision on February
9 Septian Hario Seto Independent Commissioner Jakarta August 14, 2020
20, 2020
AGMS Decision on March 29,
10 Erwin Rijanto Slamet Independent Commissioner Jakarta August 6, 2021
2021
*) The Board of Commissioners becomes effective after obtaining FSA approval for the Fit and Proper Test. This is in accordance with OJK Regulation No. 27/ POJK.03/2016
dated July 22, 2016 concerning Fit and Proper Test for Main Parties of Financial Services Institutions.
Composition of the Board of Commissioners for the Period March 15, 2023 – September 19, 2023-12-31
On March 15, 2023, the 2023 AGMS decided to change the composition of BNI’s Board of Commissioners as follows:
1. Respectfully dismissed Sigit Widyawan as Independent Commissioner;
2. Appointed the following:
a. Sigit Widyawan as Independent Commissioner;
b. Robertus Billitea as Commissioner.
Thus, the composition of the Board of Commissioners for the period March 15, 2023 to September 19, 2023 was 11
(eleven) people consisting of 1 (one) President Commissioner who was also an Independent Commissioner, 1 (one) Vice
President Commissioner who was also an Independent Commissioner, 5 ( five) Independent Commissioners and 4 (four)
Commissioners.The composition and basis for appointment of the Board of Commissioners can be seen in the table below.
Composition and Basis for Appointing the Board of Commissioners
for the Period March 15, 2023 – September 19, 2023
No Name Position Domicile Basis of Appointment Effective Date*
Agus Dermawan Wintarto President Commissioner/ AGMS Decision on February
1 Jakarta June 17, 2020
Martowardojo Independent Commissioner 20, 2020
Vice President
AGMS Decision on February
2 Pradjoto Commissioner/ Independent Jakarta June 17, 2020
20, 2020
Commissioner
AGMS Decision on March 15,
3 Sigit Widyawan Independent Commissioner Solo March 15, 2023**
2023
EGMS Decision on August 30,
4 Askolani Commissioner Jakarta December 20, 2019
2019
EGMS Decision on August 31,
5 Fadlansyah Lubis Commissioner Jakarta December 23, 2022
2022
AGMS Decision on February
6 Asmawi Syam Independent Commissioner Jakarta June 17, 2020
20, 2020
AGMS Decision on February
7 Iman Sugema Independent Commissioner Bogor August 14, 2020
20, 2020
AGMS Decision on February
8 Susyanto Commissioner Bogor July 27, 2020
20, 2020
AGMS Decision on February
9 Septian Hario Seto Independent Commissioner Jakarta August 14, 2020
20, 2020
AGMS Decision on March 29,
10 Erwin Rijanto Slamet Independent Commissioner Jakarta August 6, 2021
2021
AGMS Decision on March 15,
11 Robertus Billitea Commissioner Depok September 11, 2023
2021
*) The Board of Commissioners becomes effective after receiving FSA approval for the Fit and Proper Test. This is in accordance with OJK Regulation No. 27/ POJK.03/2016
dated July 22, 2016 concerning Fit and Proper Test for Main Parties of Financial Services Institutions.
**) Ceased serving as Independent Commissioner on March 15 2023, was reappointed as Independent Commissioner on March 15, 2023 which became effective on March
15, 2023 through FSA Circular Letter No. 39/SEOJK.03/2016 dated September 13, 2016 concerning Capability Assessment and Appropriateness for Prospective Controlling
Shareholders, Prospective Members of the Board of Directors, and Prospective Members of the Bank’s Board of Commissioners.
Composition of the Board of Commissioners for the Period September 19, 2023 – December 31, 2023
On September 19 2023, the 2023 EGMS decided to change the composition of BNI’s Board of Commissioners as follows:
1. Respectfully dismissed Agus Dermawan Wintarto Martowardojo as President Commissioner/Independent Commissioner;
2. Transferred Pradjoto’s assignment from Vice President Commissioner/Independent Commissioner to President
Commissioner/Independent Commissioner of the Company;
3. Appointed Pahala Nugraha Mansury as Vice President Commissioner of the Company.
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The Board of Commissioners composition for the period September 19, 2023 – December 31, 2023 was 11 (eleven)
people consisting of 1 (one) President Commissioner who was also an Independent Commissioner, 1 (one) Vice
President Commissioner who was also an Independent Commissioner, 5 (five) Independent Commissioners and 4
(four) Commissioners. The composition and basis for appointing members of the Board of Commissioners can be seen
in the table below.
Composition and Basis for Appointing the Board of Commissioners
Effective
No Name Position Domicile Basis of Appointment Period in Office
Date*
Following his previous
term in office as Currently
President
Vice President in the FSA
Commissioner/ EGMS Decision dated
1 Pradjoto** Jakarta Commissioner/ Fit and
Independent September 19, 2023
Independent Proper Test
Commissioner
Commissioner of BNI, process
2020-2025 (First Period)
Currently
Vice President
in the FSA
Pahala Nugraha Commissioner/ EGMS Decision dated
2 Jakarta 2023-2028 (First Period) Fit and
Mansury** Independent September 19, 2023
Proper Test
Commissioner
process
EGMS Decision dated December
3 Askolani Commissioner Jakarta 2019-2024 (First Period)
August 30, 2019 20, 2019
AGMS Decision dated July 27,
4 Susyanto Commissioner Bogor 2020-2025 (First Period)
February 20, 2020 2020
EGMS Decision dated December
5 Fadlansyah Lubis Commissioner Jakarta 2022-2027 (First Period)
August 31, 2022 23, 2022
Annual GMS
AGMS Decision dated September
6 Robertus Billitea Commissioner Depok Resolutions on March
March 15, 2023 11, 2023
15, 2023
Independent AGMS Decision dated August 6,
7 Erwin Rijanto Slamet Jakarta 2021-2026 (First Period)
Commissioner March 29, 2021 2021
Independent AGMS Decision dated 2023-2028 (Second March 15,
8 Sigit Widyawan Solo
Commissioner March 15, 2023 Period) 2023
Independent AGMS Decision dated June 17,
9 Asmawi Syam Jakarta 2020-2025 (First Period)
Commissioner February 20, 2020 2020
Independent AGMS Decision dated August 14,
10 Septian Hario Seto Jakarta 2020-2025 (First Period)
Commissioner February 20, 2020 2020
Independent AGMS Decision dated August 14,
11 Iman Sugema Bogor 2020-2025 (First Period)
Commissioner February 20, 2020 2020
*) The Board of Commissioners becomes effective after receiving FSA approval for the Fit and Proper Test. This is in accordance with OJK Regulation No. 27/ POJK.03/2016
dated July 22, 2016 concerning Fit and Proper Test for Main Parties of Financial Services Institutions.
**) Currently in the FSA Fit and Proper Test process
INFORMATION ON CHANGES INTHE BOARD OF DIRECTORS AND/OR BOARD OF COMMISSIONERS MEMBERS
COMPOSITION THAT OCCURED AFTER THE FISCAL YEAR
There were no changes to the Board of Directors and/or Board of Commissioners members composition after the end
of fiscal year 2023 until the deadline for submitting the Annual Report.
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Senior Executive
President Profiles
Hussein Paolo Kartadjoemena Ita Tetralastwati
SEVP Corporate Development & Transformation SEVP Treasury
Age Age
44 years old as of December 31, 2023 53 years old as of December 31, 2023
Nationality Nationality
Indonesian citizen Indonesian citizen
Domicile Domicile
Jakarta, Indonesia Jakarta, Indonesia
Education and/or Certification Education and/or Certification
• Bachelor’s degree in Economics from Harvard University (2002) • Bachelor’s degree in Economics from Universitas Gadjah Mada (1996)
• Level 4 Risk Management Competency by the Risk Management • Level 4 Risk Management Commitment by the Risk Management
Certification Body (BSMR) in 2023 Certification Body (BSMR) (2023)
Position History: Position History:
Legal Basis of Appointment as the Company’s SEVP Legal Basis of Appointment as the Company’s SEVP
Appointed as SEVP Corporate Development & Transformation based on Appointed as SEVP Treasury based on Decision of the Board of Directors
Decision of the Board of Directors of PT Bank Negara Indonesia (Persero) of PT Bank Negara Indonesia (Persero) Tbk No. KP/374/ DIR/R dated
Tbk No. KP/382/DIR/R dated November 17, 2020 November 9, 2020
Concurrent Positions Concurrent Positions
Concurrently serves as President Commissioner of PT Bank Hibank No concurrent positions at BNI or other institutions
Indonesia
Work Experience
Work Experience • Money Market Dealer, PT Bank Pembangunan Indonesia (1998)
• SVP, Corporate Development, PT Bank Mandiri (Persero) Tbk (2012) • Cash & Liquidity Dealer, PT Bank Mandiri (1999)
• General Manager, Corporate Finance & Investor Relations, • Fixed Income Dealer, PT Bank Mandiri (2007)
PT Apexindo Pratama Duta Tbk (2014) • Money Market Dealer, PT Bank Mandiri (2008)
• Chief Executive Officer, PT Royal Mandiri (2017) • Chief Dealer, Treasury Cash & Liquidity Management, PT Bank Mandiri
• Chief Executive Officer, PT Royal Lestari Utama (2018) (2009)
• Senior Executive Vice President & Chief Transformation • Vice President, Treasury Interest Rate Trading, PT Bank Mandiri (2011)
• Officer, PT Bank Mandiri (Persero) Tbk (2020) • Vice President, Treasury FX Trading, PT Bank Mandiri (2015)
• Senior Executive Vice President - Corporate Transformation, • Senior Vice President, Market Risk, PT Bank Mandiri (2016)
PT Bank Negara Indonesia (Persero)Tbk (2020-present) • Non-Executive Director Bank Mandiri Europe Limited (2018)
• President Commissioner – PT Bank Hibank Indonesia (2023-present) • Senior Vice President, Market & Operational Risk, PT Bank Mandiri
(2020)
Affiliated Relationships • Senior Executive Vice President, Treasury, PT Bank Negara Indonesia
No affiliations with members of the Board of Directors and Board of (Persero) Tbk (2020)
Commissioners, or with the majority and controlling shareholder
Affiliated Relationships
Training in 2023 No affiliations with members of the Board of Directors and Board of
Data can be found in the section on Education/Training for Board of Commissioners, or with the majority and controlling shareholder
Commissioners, Board of Directors, Committees, Corporate Secretary,
and Internal Audit, in the Company Profile chapter in this Annual Report Training in 2023
Data can be found in the section on Education/Training for Board of
Commissioners, Board of Directors, Committees, Corporate Secretary,
and Internal Audit, in the Company Profile chapter in this Annual Report
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Fauzi Rian Eriana Kaslan
SEVP Operations SEVP Retail Digital Solutions
Age Age
56 years old as of December 31, 2023 47 years old as of December 31, 2023
Nationality Nationality
Indonesian citizen Indonesian citizen
Domicile Domicile
Jakarta, Indonesia Jakarta, Indonesia
Education and/or Certification Education and/or Certification
• Bachelor of Economics degree from Universitas Andalas (1992) • Bachelor of Arts in Business Administration, Clark University, USA,
• Level 4 Risk Management Competency Certification issued by Risk (1999)
Management Certification Agency (BSMR) in 2023 • Master of Business Administration in International Management and
Marketing, Boston University, USA, (2006)
Position History: • Level 5 Risk Management Competency Certification issued by Risk
Management Certification Agency (BSMR) (2023)
Legal Basis of Appointment as the Company’s SEVP
Appointed as SEVP Operations based on Decision of the Board of Position History:
Directors of PT Bank Negara Indonesia (Persero) Tbk No. DIR/082.2/ DIR/R
dated May, 31 2022 Legal Basis of Appointment as the Company’s SEVP
Appointed as SEVP Retail Digital Solutions based on Decision of the Board of
Concurrent Positions Directors of PT Bank Negara Indonesia (Persero) Tbk No. KP/340/DIR/R dated
No concurrent positions at BNI or other institutions July 28, 2021
Work Experience Concurrent Positions
• General Manager of Banking Operation Division (2014) Concurrently as President Commissioner of PT BNI Modal Ventura
• Head of Region Bandung (2016)
• General Manager of Channel Management Division (2018) Work Experience
• General Manager of Internal Audit (2019) • AVP, Client Service Manager - Bank of New York Mellon, Boston,
• Senior Executive Vice President - Operational, PT Bank Negara United of America (1999 - 2000)
Indonesia (Persero) Tbk (2021-present) • Executive Vice President, Commonwealth Bank Indonesia, Jakarta,
Head of Digital Strategy & Delivery (2006-2021)
Affiliated Relationships • Senior Executive Vice President - Retail Digital Solutions PT Bank
No affiliations with members of the Board of Directors and Board of Negara Indonesia (Persero) Tbk (2021-present)
Commissioners, or with the majority and controlling shareholder • President Commissioner of PT BNI Capital Ventura (2022-present)
Training in 2023 Affiliated Relationships
Data can be found in the section on Education/Training for Board of No affiliations with members of the Board of Directors and Board of
Commissioners, Board of Directors, Committees, Corporate Secretary, Commissioners, or with the majority and controlling shareholder
and Internal Audit, in the Company Profile chapter in this Annual Report
Training in 2023
Data can be found in the section on Education/Training for Board of
Commissioners, Board of Directors, Committees, Corporate Secretary, and
Internal Audit, in the Company Profile chapter in this Annual Report
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Victor Erico Korompis I Made Sukajaya
SEVP Information Technology SEVP Remedial & Recovery
Age Age
49 years old as of December 31, 2023 55 years old as of December 31, 2023
Nationality Nationality
Indonesian citizen Indonesian citizen
Domicile Domicile
Jakarta, Indonesia Jakarta, Indonesia
Education and/or Certification Education and/or Certification
• Bina Nusantara University (1992-1996) • Sarjana Pertanian Universitas Udayana (1992)
• Universitas Indonesia (Master of Information Technology) Graduated • Manajemen Keuangan Universitas Persada Indonesia-YAI (2004
with Cum Laude (1999-2001) • Certification APEI-Asosiasi Perusahaan Efek Indonesia Pada Tahun
• The Innovative Technology Leader at Standford University (2023) 2023
• Level 4 Risk Management Competency Certification issued by Risk • Refreshment Winning Market share Through Digital and Collaboration
Management Certification Agency (BSMR) (2023) Mindset Tahun 2023
• Kompetensi Manajemen Risiko Level 4 oleh Badan Certification
Position History: Manajemen Risiko (BSMR) (2023)
Legal Basis of Appointment as the Company’s SEVP
Position History:
Appointed as SEVP Information Technology based on PT Bank Negara
Indonesia (Persero) Tbk Board of Directors Decision No. DIR/006/R dated
Legal Basis of Appointment as the Company’s SEVP
January 20, 2023
Appointed as SEVP Remedial & Recovery based on PT Bank Negara
Indonesia (Persero) Tbk Board of Directors Decision No. KP/028/DIR/R dated
Concurrent Positions
No concurrent positions at BNI or other institutions January 19, 2023
Work Experience Concurrent Positions
• IBM Business Partner - PT Mitra Integrasi Komputindo ( 1996-2002) Commissioner – PT. BNI Sekuritas
• AVP, IT Programme Management Office Head – PT Bank Danamon
(2001-2014) Work Experience
• Vice President, IT Cons. Finance, Touchpoint& Payment Head – PT • Deputy General Manager Tokyo Branch Office - PT Bank Negara
Bank Danamon Tbk. (2004 - 2007) Indonesia (Persero) Tbk (2016)
• Senior VP, IT Electronic Channels and Card Head ( 2007 – 2010) • Deputy Head of International Division - PT Bank Negara Indonesia
• Executive VP, IT Business Solution & System Integration Head – PT (Persero) Tbk (2019)
Bank Danamon Tbk. (2010 – 2016) • Denpasar Region Leader - PT Bank Negara Indonesia (Persero) Tbk
• Acting Chief Information Officer - PT Bank Danamon Tbk. (2015 –2016) (2019)
• Senior Vice President, Head of Information Technology - PT Bank • Head of Corporate Business Division 1 - PT Bank Negara Indonesia
Danamon Tbk. (2016 –2018) (Persero) Tbk (2020)
• Senior Vice President, Head of Digital Banking Delivery Group - PT • Commissioner, PT. BNI Securitas (2021)
Bank Danamon Tbk. (2019 - 2022) • SEVP Remedial & Recovery, PT Bank Negara Indonesia (Persero) Tbk
• Senior Executive Vice President Information Technology – PT Bank (2023 – present)
Negara Indonesia (Persero) Tbk. (2022 – presnt)
Affiliated Relationships
Affiliated Relationships No affiliations with members of the Board of Directors and Board of
No affiliations with members of the Board of Directors and Board of Commissioners, or with the majority and controlling shareholder
Commissioners, or with the majority and controlling shareholder
Training in 2023
Training in 2023 Data can be found in the section on Education/Training for Board of
Data can be found in the section on Education/Training for Board of Commissioners, Board of Directors, Committees, Corporate Secretary, and
Commissioners, Board of Directors, Committees, Corporate Secretary, Internal Audit, in the Company Profile chapter in this Annual Report
and Internal Audit, in the Company Profile chapter in this Annual Report
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 123
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Steven Suryana Bun Hendra
SEVP Wealth Management SEVP Credit Risk
Age Age
55 years old as of December 31, 2023 46 years old as of December 31, 2023
Nationality Nationality
Indonesian citizen Indonesian citizen
Domicile Domicile
Jakarta, Indonesia Jakarta, Indonesia
Education and/or Certification Education and/or Certification
• Bachelor of Economics Degree from Universitas Tarumanegara • Bachelor of Engineering Degree from University of Tarumanagara,
• Level 4 Risk Management Competency by the Risk Management bachelor degree, (1995-1999)
Certification Body (BSMR) (2023) • Master of Management, University of Indonesia, post-graduate
degree, (2001-2003)
Position History: • Level 4 Risk Management Competency by the Risk Management
Certification Body (BSMR) (2023)
Legal Basis of Appointment as the Company’s SEVP
Appointed as SEVP Wealth Management based on PT Bank Negara Position History:
Indonesia (Persero) Tbk Board of Directors Decision No. DIR/062 dated
May 16, 2023 Legal Basis of Appointment as the Company’s SEVP
Appointed as SEVP Credit Risk based on PT Bank Negara Indonesia (Persero)
Concurrent Positions Tbk Board of Directors Decision No. KP/743/DIR/R dated October 25, 2023
No concurrent positions at BNI or other institutions
Concurrent Positions
Work Experience No concurrent positions at BNI or other institutions
• General Manager – Standard Chartered Bank Philippines (2007)
• Head of Wealth Management - ABN AMRO Bank (Royal bank of Work Experience
Scotland) (2007-2010)) • SVP and Credit Review Division Co Head - PT Bank Ekonomi Rahardja
• Group Head, Sales & Marketing – PT Manulife Aset Manajemen Tbk. (2010 – 2013)
Indonesia ((2010-2011)) • Director, Head of Research & Analysis, Indonesia – PT ANZ Indonesia
• SVP & Head of Wealth Management – HSBC Indonesia (2011 – 2019) (2014 – 2016)
• Director, Retail Banking Head – Citibank Indonesia (2019 - 2023) • Executive Vice President, Global Corporate Credit Head - PT Bank
• Senior Executive Vice President Wealth Management (2023 – present) CIMB NIAGA TBK (2016-2019)
• Executive Director, Head of Credit Risk Specialist - PT BANK DBS
Affiliated Relationships Indonesia (2019 – 2023)
No affiliations with members of the Board of Directors and Board of • Senior executive Vice President Credit Risk – PT Bank Negara
Commissioners, or with the majority and controlling shareholder Indonesia (Persero) (2023 – present)
Training in 2023 Affiliated Relationships
Data can be found in the section on Education/Training for Board of No affiliations with members of the Board of Directors and Board of
Commissioners, Board of Directors, Committees, Corporate Secretary, Commissioners, or with the majority and controlling shareholder
and Internal Audit, in the Company Profile chapter in this Annual Report
Training in 2023
Data can be found in the section on Education/Training for Board of
Commissioners, Board of Directors, Committees, Corporate Secretary, and
Internal Audit, in the Company Profile chapter in this Annual Report
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Practices Governance Responsibility Commitment Statements
Pancaran Affendi
SEVP Corporate Banking
Age
50 years old as of December 31, 2023
Nationality
Indonesian citizen
Domicile
Jakarta, Indonesia
Education and/or Certification
• Organizational Leadership - IMD Business School (2014)
• Civil Engineering - Universitas Tarumanegara (1997)
• Level 4 Risk Management Competency by the Risk Management
Certification Body (BSMR) (2023)
Position History:
Legal Basis of Appointment as the Company’s SEVP
Appointed as SEVP Corporate Banking based on PT Bank Negara
Indonesia (Persero) Tbk Board of Directors Decision No. KP/742/DIR/R
dated October 25, 2023
Concurrent Positions
No concurrent positions at BNI or other institutions
Work Experience
• Civil Structural Designer, PT Partono Fondas (1997 – 1998)
• Corporate Banking, PT Bank Central Asia Tbk (1998 – 2004)
• Corporate Banking, DBS Bank (2004 – 2005)
• VP – Corporate Banking, ABN AMRO Bank N.V (2005 –2008)
• Managing Director – Country Head of Global Corporate &
Institutional Banking, MUFG (2008 -2023)
• SEVP Corporate Banking, PT Bank Negara Indonesia (Persero), Tbk
(2023 – present)
Affiliated Relationships
No affiliations with members of the Board of Directors and Board of
Commissioners, or with the majority and controlling shareholder
Training in 2023
Data can be found in the section on Education/Training for Board of
Commissioners, Board of Directors, Committees, Corporate Secretary,
and Internal Audit, in the Company Profile chapter in this Annual Report
Annual Report 2023 > PT Bank Negara Indonesia @kopikalyanjapan
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Executive Officers
Profiles
HEADS OF DIVISIONS IN THE MAIN DIRECTORATE
Anang Basuki Okki Rushartomo Basaria Martha Juliana S
Head of Internal Audit Division Head of Corporate Secretary Division Corporate Development & Transformation
Division Head
54 years old as of December 31, 2023. Holds 43 years old as of December 31, 2023. Holds 53 years old as of December 31, 2023. Holds
a Bachelor’s degree in Accounting from a Bachelor’s degree in Industrial Engineering a Master’s degree in Master of Business from
Universitas Gadjah Mada. Appointed as Head from InstitutTeknologi Bandung. Appointed as the University of Victoria. Appointed as Head
of Internal Audit Division based on Board of Head of Corporate Secretary Division based on of Corporate Development &Transformation
Directors’ Decree No.KP/207/DIR/R dated May Board of Directors’ Decree No. KP/208/DIR/R Division based on Board of Directors’ Decree
31, 2023 dated May 31, 2023. No. KP/206/DIR/R May 31, 2023.
HEADS OF DIVISIONS IN THE WHOLESALE & INTERNATIONAL BANKING DIRECTORATE
Andrean Palonggam Ditya Maharhani Harninda Dipo Nugroho
Head of Corporate Banking 1 Division Corporate Banking 2 Division Head Head of Corporate Banking 3 Division Head and
assigned as Syndication & Structured Finance
Division
40 years old as of December 31, 2023. Holds 42 years old as of December 31, 2023. Holds 41 years old as of December 31, 2023. Holds
a Bachelor’s degree in Management from a Master’s degree in Marketing from the a Master’s degree in Master of Business
Universitas Katolik Atmajaya. Appointed as University of New South Wales. Appointed as Administration from Erasmus University Rotterdam.
Head of Corporate Banking 1 Division based Corporate Banking 2 Division Head based on Appointed as Corporate Banking 3 Division Head
on Board of Directors’ Decree No. KP/820/DIR/R Board of Directors’ Decree No. KP/327/DIR/R based on Board of Directors’ Decree No. KP/328/
dated December 6, 2023 dated June 22, 2023. DIR/R dated June 22, 2023. Assigned as Head of
Syndication & Structured Finance Division based on
Decree No. KP/1594/HCE/1/R dated July 17, 2023.
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Arief Wibawa Rima Cahyani Rini Yuniar
Head of Corporate Banking 4 Division Head of International Banking & Financial Head of Treasury Division
Institutions Division
45 years old as of December 31, 2023. Holds 41 years old as of December 31, 2023. Holds 52 years old as of December 31, 2023. Holds
a Bachelor’s degree in Industrial Engineering a Bachelor’s degree in International Relations a Master’s degree in Internal Auditing from
from UniversitasTelkom. Appointed as Head of from Universitas Gadjah Mada. Appointed Universitas Gadjah Mada. Appointed as Head
Corporate Banking 4 Division based on Board as Head of International Banking & Financial ofTreasury Division based on SEVP Decree No.
of Directors’ Decree No. KP/244/DIR/R dated Institutions Division based on SEVP Decree No. KP/005/SEVP/R dated June 27, 2023.
June 12, 2023. KP/006/SEVP/R dated June 27, 2023.
Nyimas Sulistia Sriwulandari Amalia Savitri Fajar Fitrianto
SORX Wholesale & International Banking SBX Corporate Banking SBX Corporate Banking
Division
35 years old as of December 31, 2023. Holds 46 years old as of December 31, 2023. Holds 42 years old as of December 31, 2023. Holds a
a Bachelor’s degree in Management from the a Master’s degree in Financial Management Master’s degree in Business Administration from
Universitas Indonesia. Appointed as Senior from the Universitas of Indonesia. Appointed NanyangTechnological University. Appointed as as
Operational Risk Executive (SORX) Wholesale as Senior Business Executive (SBX) based on Senior Business Executive (SBX) based on Board of
& International Banking Division based on Board of Directors’ Decree No. KP/591/DIR/R Directors’ Decree No. KP/820/DIR/R dated December
Board of Directors’ Decree No. KP/820/DIR/R dated July 10, 2023. 6, 2023.
dated December 6, 2023
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HEADS OF DIVISIONS IN THE ENTERPRISE & COMMERCIAL BANKING DIRECTORATE
Yogi Bima Sakti I Dewa Gde Ngurah Yoga Pratama Julius D. Aritonang
Head of Enterprise Banking Division Head of Commercial Banking 1 Division Head of Commercial Banking 2 Division
47 years old as of December 31, 2023. Holds 44 years old as of December 31, 2023. Holds 52 years old as of December 31, 2023. Holds a
a Bachelor’s degree in Management from a Master’s degree in Management from Master’s degree in Financial Management and
Edith Cowan University. Appointed as Head of Universitas Katolik Atmajaya. Appointed as Banking from Universitas Indonesia. Appointed
Enterprise Banking Division based on Board Head of Commercial Banking 1 Division based as Head of Commercial Banking 2 Division
of Directors’ Decree No. KP/123/DIR/R dated on Board of Directors’ Decree No. KP/595/DIR/R based on Board of Directors’ Decree No.
March 24, 2023. dated July 16, 2023. KP/402/DIR/R dated June 27, 2023.
Rangga Bhirawa Wicaksana Martinus Matondang Warda Nadjamuddin
SBX Enterprise Banking SBX Enterprise Banking SBX Commercial Banking
39 years old as of December 31, 2023. Holds 52 years old as of December 31, 2023. Holds 52 years old as of December 31, 2023. Holds
a Master’s degree in Management from the a Bachelor’s degree in Development from a Master’s degree in Management from
InstitutTeknologi Bandung. Appointed as Senior Universitas Bung Hata. Appointed as Senior Universitas Sam Ratulangi. Appointed as
Business Executive (SBX) based on Board of Business Executive (SBX) based on Board of Senior Business Executive based on Board of
Directors’ Decree No. KP/591/DIR/R dated July Directors’ Decree No. KP/607/DIR/R dated July Directors’ Decree No. KP/403/DIR/R dated June
10, 2023. 21, 2023. 27, 2023.
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Practices Governance Responsibility Commitment Statements
HEADS OF DIVISIONS IN THE INSTITUTIONAL BANKING DIRECTORATE
Jane Tuwaidan Efrizal Widi Hantono
Temporary Head of Institutional Banking 1 Head of Institutional Banking 2 Division Head of Pension Fund Division
Division
45 years old as of December 31, 2023. Holds 53 years old as of December 31, 2023. Holds 55 years old as of December 31, 2023. Holds
a Master’s degree in Agricultural Resources a Master’s degree in Marketing Management a Master’s degree in Management from
Management from Universitas Sam Ratulangi. from Universitas Negeri Padang. Appointed as UniversitasTimbul Nusantara. Appointed as
Appointed asTemporary Head of Institutional Head of Institutional Banking 2 Division based Head of Pension Fund Division based on Board
Banking 1 Division based on Board of Directors’ on Board of Directors’ Decree No. KP/219/DIR/R of Directors’ Decree No. KP/217/DIR/R dated
Decree No. KP/759/DIR/R dated October 31, dated June 5, 2023. June 05, 2023.
2023.
HEADS OF DIVISIONS IN THE NETWORK & SERVICES DIRECTORATE
Nugroho Windria Yudi Antono Rahma Dhoni
Temporary Head of Distribution Network & Head of Agen46 Division
Sales Division
52 years old as of December 31, 2023. 46 years old as of December 31, 2023. Holds
Holds a Master’s degree in Management a Master’s degree in Management Science
from Universitas Diponegoro. Appointed as from the Universitas Indonesia. Appointed as
Temporary Head of Distribution Network & Head of Agen46 Division based on Board of
Sales Division based on Board of Directors’ Directors’ Decree No. KP/153/DIR/R dated May
Decree No. KP/806/DIR/R dated November 23, 03, 2023
2023.
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Rahmat Pertinda Suryo Utomo
Head of Customer Experience Center SORX Network & Services
Division
51 years old as of December 31, 2023. Holds 52 years old as of December 31, 2023. Holds a
a Master’s degree in Legal Studies from Master’s degree in Accounting from Universitas
UniversitasTrisakti. Appointed as Head of Diponegoro. Appointed as SORX Network &
Customer Experience Center Division based on Services based on Board of Directors’ Decree
Board of Directors’ Decree No. No.KP/212/DIR/R No. KP/595/DIR/R dated July 14, 2023.
dated May 31, 2023.
HEADS OF DIVISIONS IN THE HUMAN CAPITAL & COMPLIANCE DIRECTORATE
Yenni Sari Dewi Afthon Shodaq Noor Dandy P. Sjamsudin
Head of Human Capital Strategy Division Head of Human Capital Services Division Head of BNI University Divison
45 years old as of December 31, 2023. Holds 52 years old as of December 31, 2023. Holds a 52 years old as of December 31, 2023. Holds
a Master’s degree in General Business from Master’s degree in Finance from Universitas a Master’s degree in Finance/Banking from
Universitas Gadjah Mada. Appointed as Head Gadjah Mada. Appointed as Head of Human the University of Monash. Appointed as Head
of Human Capital Strategy Division based on Capital Services Division based on Board of of BNI University Division based on Board of
Board of Directors’ Decree No. KP/123/DIR/R Directors’ Decree No. KP/259/DIR/R dated June Directors’ Decree No. KP/261/DIR/R dated June
dated March 24, 2023. 13, 2023. 19, 2023.
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Practices Governance Responsibility Commitment Statements
Ikhsan Azman Sandy Dwinanto Hendra Susila
Head of Compliance Division Head of Legal Division Temporary Head of Policy Governance
Division
54 years old as of December 31, 2023. Holds a 50 years old as of December 31, 2023. Holds 44 years old as of December 31, 2023. Holds
Master’s degree in Agribusiness Management a Master’s degree in Management from a Bachelor’s degree in Civil Engineering from
from the Institut Pertanian Bogor. Appointed as Universitas Indonesia. Appointed as Head of Universitas Andalas and a Master’s degree
Head of Compliance Division based on Board Legal Division based on Board of Directors’ in Financial Management from Universitas
of Directors’ Decree No. KP/595/DIR/R dated Decree No. KP/257/DIR/R dated June 13, 2023. Putra IndonesiaYPTK Padang. Appointed as
July 14, 2023. Temporary Head of Policy Governance Division
based on Board of Directors’ Decree No.
KP/597/DIR/R dated July 18, 2023.
Efita Praharani Emmy Nurhayati
Human Capital Business Partner Head Head of Human Capital Business Partner
Division
56 years old as of December 31, 2023. Holds 59 years old as of December 31, 2023. Holds
a Master’s degree in Administrative Sciences a Bachelor’s degree in Financial Management
from Universitas Indonesia. Appointed as from Universitas Indonesia. Appointed as Head
Human Capital Business Partner Head based of Human Capital Business Partner Division
on Board of Directors’ Decree No. KP/252/DIR/R based on Board of Directors’ Decree No.
dated June 13, 2023. KP/253/DIR/R dated June 13, 2023.
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HEADS OF DIVISIONS IN THE FINANCE DIRECTORATE
Agung Turanto S. Setyo Susilo Made Dany Pratiwi B.
Head of Corporate Planning & Performance Head of Accounting Division Head of Procurement & Fixed Assets
Management Division Division
45 years old as of December 31, 2023. Holds 51 years old as of December 31, 2023. Holds a 52 years old as of December 31, 2023. Holds a
a Master’s degree in Management from Master’s degree in Small and Medium Industry Master’s degree in Actuarial from Universitas
Universitas Gadjah Mada. Appointed as from Institut Pertanian Bogor. Appointed as Indonesia. Appointed as Head of Procurement
Head of Corporate Planning & Performance Head of Accounting Division based on Board & Fixed Assets Division based on Board of
Management Division based on Board of of Directors’ Decree No. KP/688/DIR/R dated Directors’ Decree No. KP/233/DIR/R dated
Directors’ Decree No. KP/231/DIR/R dated September 26, 2023. June 06, 2023
June 6, 2023.
Yohan Setio M. Emil Azhary Leo Putera Rinaldy
Head of Investor Relations Division Head of Subsidiaries Management Division Chief Economist
38 years old as of December 31, 2023. Holds 45 years old as of December 31, 2023. Holds 40 years old as of December 31, 2023. Holds
a Master of Business Administration (MBA) a Master’s degree in Business Administration a Bachelor’s degree in Economics from the
from the University of University of Cambridge, from North Eastern University. Appointed as University of Indonesia. Appointed as Chief
UK, England. Appointed as Head of Investor Head of Subsidiaries Management Division Economist based on Board of Directors’ Decree
Relations Division based on Board of Directors’ based on Board of Directors’ Decree No. No. KP/755/DIR/R dated October 31, 2023.
Decree No. KP/229/DIR dated June 6, 2023 KP/237/DIR/R dated June 06, 2023
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Billie Setiawan
Head of Data Management & Analytics
Division
42 years old as of December 31, 2023. Holds
a Bachelor’s degree in Science from the
University of Greenwich. Appointed as Head of
Data Management & Analytics Division based
on Board of Directors’ Decree No. KP/245/DIR/R
dated June 12, 2023.
HEADS OF DIVISIONS IN THE RETAIL BANKING DIRECTORATE
Sri Indira Grace Situmeang Muhammad Safri Hidayat
Head of Consumer Segment Division & Head of Card Business Division Head of Retail Productive Banking Division
Temporary Head of Consumer Product
Division
53 years old as of December 31, 2023. Holds 50 years old as of December 31, 2023. Holds 44 years old as of December 31, 2023. Holds
a Master’s degree in Management from a Bachelor’s degree in International Relations a Bachelor’s degree in Economics and
Universitas Gadjah Mada. Appointed as Head from Universitas Indonesia. Appointed as Head Development Studies from Universitas Gadjah
of Consumer Segment Division based on of Card Business Division based on Board of Mada. Appointed as Head of Retail Productive
Board of Directors’ Decree No. KP/270/DIR/R Directors’ Decree No. KP/263/DIR/R dated June Banking Division based on Board of Directors’
dated June 14, 2023. Also serves asTemporary 14, 2023. Decree No. KP/153/DIR/R dated May 03, 2023.
Head of Consumer Product Division based on
Board of Directors’ Decree No. KP/274/DIR/R
dated June 14, 2023.
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Sunarna Eka Nugraha Henny Woe Putu Bagus Kresna
Head of Business Program Division Head of Wealth Management Division SORX Consumer Banking & Corporate
Function
55 years old as of December 31, 2023. Holds a 48 years old as of December 31, 2023. Holds 51 years old as of December 31, 2023. Holds a
Bachelor’s degree in Fisheries from Universitas a Bachelor’s degree in Accounting from Master’s degree in Financial Management from
Diponegoro. Appointed as Head of Business UniversitasTarumanagara. Appointed as Head the Universitas Indonesia. Appointed as Senior
Program Division based on Board of Directors’ of Wealth Management Division based on Operational Risk Executive (SORX) Consumer
Decree No. HCE/1/0971 dated November 29, Board of Directors’ Decree No. KP/267/DIR/R Banking & Corporate Function based on Board
2023 dated June 14, 2023 of Directors’ Decree No. KP/244/DIR/R dated
June 12, 2023.
HEADS OF DIVISIONS IN THE RISK MANAGEMENT DIRECTORATE
Rayendra Minarsa Goenawan Adi Surya Djoko Made Nariswari
Head of Enterprise Risk Management Head of Operational Risk Management Head of Retail Credit Risk Division
Division Division
39 years old as of December 31, 2023. Holds 46 years old as of December 31, 2023. Holds a 49 years old as of December 31, 2023. Holds
a Master’s degree in Management from Master’s degree in Master of Business from the a Bachelor’s degree in Economics from
Universitas Bina Nusantara. Appointed as Head University of Western Australia. Appointed as Universitas Indonesia. Appointed as Head
of Enterprise Risk Management Division based Head of Operational Risk Management Division of Retail Credit Risk Division based on Board
on Board of Directors’ Decree No. KP/289/DIR/R based on Board of Directors’ Decree No. of Directors’ Decree No. KP/820/DIR/R dated
dated June 16, 2023. HCE/1/01040 dated December 12, 2023. December 06, 2023
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Wilhelmus Max Charles Aryani Dwi Satiti Muhammad Jufri
Head of Anti Fraud Division Head of Corporate & Enterprise Credit Risk Head of Commercial Credit Risk Division
Division
48 years old as of December 31, 2023. Holds 51 years old as of December 31, 2023. Holds a 53 years old as of December 31, 2023. Holds
a Bachelor’s degree in Management from Master’s degree in Finance from Universitas a Master’s degree in Management from
Universitas Gunadarma. Appointed as Head Gadjah Mada. Appointed as Head of Corporate UniversitasTrisakti. Appointed as Head of
of Anti Fraud Division based on Board of & Enterprise Credit Risk Division based on Commercial Credit Risk Divison based on
Directors’ Decree No. KP/290/DIR/R dated June Board of Directors’ Decree No. KP/820/DIR/R Board of Directors’ Decree No. KP/288/DIR/R
16, 2023. dated December 6, 2023. dated June 16, 2023.
Johansyah Sjamsul Hidayat Safwan Hari Satriyono
Head of Corporate Remedial & Recovery Head of Enterprise & Commercial Remedial Head of Retail Collection & Recovery Divison
Division & Recovery Division
42 years old as of December 31, 2023. Holds 55 years old as of December 31, 2023. Holds 53 years old as of December 31, 2023. Holds a
a Master’s degree in Notary Affairs from a Master’s degree in Business Administration Master’s degree in Finance from Universitas
Universitas Jayabaya. Appointed as Head of from SekolahTinggi Ilmu Administrasi Gadjah Mada. Appointed as Head of Retail
Corporate Remedial & Recovery Division based Lembaga Administrasi Negara. Appointed as Collection & Recovery Divison based on Board
on Board of Directors’ Directors’ Decree No. Head of Enterprise & Commercial Remedial & of Directors’ Decree No. KP/286.3/DIR/R dated
KP/286.1/DIR/R dated June 16, 2023. Recovery Division based on Board of Directors’ June 16, 2023.
Decree No. KP/286.2/DIR/R dated June 16, 2023.
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Yanar Siswanto Agus Sutanto Yessy Kurnia Dyah W.
SCX Corporate & Enterprise Credit Risk SCX Corporate & Enterprise Credit Risk SCX Corporate & Enterprise Credit Risk
54 years old as of December 31, 2023. Holds a 45 years old as of December 31, 2023. 53 years old as of December 31, 2023. Holds a
Master’s degree in Agribusiness from Institut Holds a Master’s degree in Finance from the Master’s degree in Agribusiness Management
Pertanian Bogor. Appointed as Senior Credit Universitas Indonesia. Appointed as Senior from Universitas Pembangunan Nasional
Risk Executive (SCX) based on Board of Credit Risk Executive (SCX) based on Board of Veteran (UPN). Appointed as Senior Credit Risk
Directors’ Decree No. KP/408/DIR/R dated June Directors’ Decree No. KP/409/DIR/R dated June Executive (SCX) based on Board of Directors’
27, 2023. 27, 2023. Decree No. KP/406/DIR/R dated 27 June 2023.
Mochamad Roland Perdana Eko Setiawan Bernardus
SCX Corporate & Enterprise Credit Risk SCX Commercial Credit Risk SCX Commercial Credit Risk
39 years old as of December 31, 2023. Holds 53 years old as of December 31, 2023. Holds a 53 years old as of December 31, 2023. Holds a
a Doctoral degree in Management from Master’s degree in Finance from Universitas Master’s degree in Accounting Management
Universitas Brawijaya. Appointed as Senior Gadjah Mada. Appointed as Senior Credit Risk from Gadjah Mada University. Appointed as
Credit Risk Executive (SCX) based on Board of Executive (SCX) based on Board of Directors’ Senior Credit Risk Executive (SCX) based on
Directors’ Decree No. KP/407/DIR/R dated June Decree No. KP/410/DIR/R dated June 27, 2023. Board of Directors’ Decree No. KP/412/DIR/R
27, 2023. dated June 27, 2023.
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Ridwan Resmana Badriansyah Retna Mumpuni
SCX Commercial Credit Risk SCX Commercial Credit Risk SCX Commercial Credit Risk
51 years old as of December 31, 2023. Holds 54 years old as of December 31, 2023. Holds 52 years old as of December 31, 2023. Holds a
a Bachelor’s degree in Accounting from a Bachelor’s degree in Accounting from Master’s degree in Finance from Universitas
Universitas Siliwangi. Appointed as Senior Universitas Padjadjaran. Appointed as Senior Gadjah Mada. Appointed as Senior Credit Risk
Credit Risk Executive (SCX) based on Board Credit Risk Executive (SCX) based on Board Executive (SCX) based on Board of Directors’
of Directors’ Decree No. KP/411/DIR/R dated of Directors’ Decree No. KP/591/DIR/R dated Decree No. KP/591/DIR/R dated July 10, 2023.
June 27, 2023. July 10, 2023.
HEADS OF DIVISIONS IN THE TECHNOLOGY & OPERATIONS DIRECTORATE
Ari Pratiwi Herry Setiadi Munawir Sonny Setiadi
Head of IT Strategy & Architecture Division Head of Banking Operations Division Head Head of IT Infrastructure Management
concurrently Head of CISO Division and Temporary Head of Operations Strategy Division concurrently Head of IT Application
& Development Division Services Division
50 years old as of December 31, 2023. Holds 42 years old as of December 31, 2023. Holds 51 years old as of December 31, 2023. Holds
a Doctorate degree in Economics from a Bachelor’s degree in Accounting from a Bachelor’s degree in Engineering Physics
UniversitasTrisakti. Appointed as Head of IT Universitas Klabat. Appointed as Head of from InstitutTeknologi Bandung and a Master’s
Strategy & Architecture Division based on Banking Operations Division based on Board degree in Banking from Institut Keuangan
Board of Directors’ Decree No. KP/377/DIR/R of Directors’ Decree No. KP/001/DIR/R dated Perbankan dan Informatika Asia Perbanas
dated June 26, 2023. Also concurrently as CISO May 15, 2023. Also concurrently asTemporary Jakarta. Appointed as Head of IT Infrastructure
(Chief Information Security Officer) Division. Head of Operations Strategy & Development Management Division based on Board of
Division based on Board of Directors’ Decree Directors’ Decree No. KP/380/DIR/R dated
No. KP/247/DIR/R dated June 12, 2023. June 26, 2023. Also concurrently Head of IT
Application Services Division
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Heri Atmoko Setiawan Anis Widjojo Muhammad Gunawan Putra
Head of Retail Digital Delivery Division Head of Application Development Division Head of Digital Operations Division
concurrently Head of Wholesale Digital
Delivery Division
45 years old as of December 31, 2023. Holds 52 years old as of December 31, 2023. Holds 53 years old as of December 31, 2023. Holds a
a Master’s degree in Information Systems a Master’s degree in Internal Auditing from Master’s degree in Strategic Management from
Management from Universitas Budi Luhur, Universitas Gadjah Mada. Appointed as Head Universitas Gadjah Mada. Appointed as Head
Jakarta. Appointed as Head of Retail Digital of Application Development Division based on of Digital Operations Division based on SEVP
Delivery Division based on Board of Directors’ Board of Directors’ Decree No. KP/378/DIR/R Decree No. KP/002/SEVP/R dated May 15, 2023.
Decree No. KP/379/DIR/R dated June 26, 2023. dated June 26, 2023.
Also concurrently Head of Wholesale Digital
Delivery Division.
Dhias Widhiyati Muhammad Sulaiman
Head of Credit Operations Division SORX Technology Digital & Operations
53 years old as of December 31, 2023. Holds a 54 years old as of December 31, 2023. Holds a
Master’s degree in Finance from Universitas Master’s degree in Finance from Universitas
Gadjah Mada. Appointed as Head of Credit Gadjah Mada. Appointed as SORXTechnology
Operations Division based on Board of Digital & Operations based on Board of
Directors’ Decree No. KP/003/SEVP/R dated Directors’ Decree No. KP/551/DIR/R dated
May 15, 2023. June 27, 2023.
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HEADS OF DIVISIONS IN THE DIGITAL & INTEGRATED TRANSACTION BANKING DIRECTORATE
I Gede Widya Ananta Yoga Martin Susanto Ganto Novialdi
Head of Wholesale Transaction Product & Temporary Head of Wholesale Digital Head of Marketing Communications Division
Partnership Division Channel Division
43 years old as of December 31, 2023. Holds a 46 years old as of December 31, 2023. Holds a 48 years old as of December 31, 2023. Holds
Master’s degree in Management and Business Master’s degree in Management from Sekolah a Master’s degree in Management from
from Institut Pertanian Bogor. Appointed as Tinggi Manajemen Prasetiya Mulya Appointed Universitas Indonesia. Appointed as Head of
Head of WholesaleTransaction Product & asTemporary Substitute for Wholesale Digital Marketing Communications Division based on
Partnership Division based on Decree No. Channel Division Head based on Board of Board of Directors’ Decree No. KP/211/DIR/R
HCE/1/0333 dated June 20, 2023. Directors’ Decree No. KP/825/DIR/R dated dated May 31, 2023.
December 06, 2023.
Mesah Roni Ginting Indra Gunawan
Head of Retail Digital Product & Partnership Head of Retail Digital Channel Division
Division
42 years old as of December 31, 2023. 42 years old as of December 31, 2023. Holds a
Holds a Master’s degree in Management Bachelor’s degree in Computer Sciences from
from Universitas Gadjah Mada,Yogyakarta. the University ofTexas. Appointed as Head of
Appointed as Head of Retail Digital Product Retail Digital Channel Division based on Decree
& Partnership Division based on Board of No. HCE/1/00531 dated August , 2023.
Directors’ Decree No. KP/372/DIR/R dated
June 22, 2023.
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REGIONAL MANAGER
Rustianto Khairul Salam Wirawan Ari Rachmana
Regional CEO of Regional Office 01 Regional CEO of Regional Office 02 Regional CEO of Regional Office 03
52 years old as of December 31, 2023. Holds 50 years old as of December 31, 2023. Holds a 50 years old as of December 31, 2023. Holds
a Master’s degree in Management from Bachelor’s degree in Information Management a Master’s degree in Management from
Universitas Sebelas Maret. Appointed as from STMIKYPTK Padang. Appointed as Universitas Diponegoro. Appointed as Regional
Regional CEO of Regional Office 01 based on Regional CEO of Regional Office 02 based on CEO of Regional Office 03 based on Board of
Board of Directors’ Decree No. KP/634/DIR/R Board of Directors’ Decree No. KP/284.2/DIR/R Directors’ Decree No. KP/284.3/DIR/R dated
dated August 16, 2023 dated June 15, 2023 June 15, 2023
Maya Agustina I Gst. Nym. Dharma Putra Roy Wahyu Maulana
Regional CEO of Regional Office 04 Regional CEO of Regional Office 05 Regional CEO of Regional Office 06
50 years old as of December 31, 2023. Holds a 52 years old as of December 31, 2023. Holds 53 years old as of December 31, 2023. Holds
Bachelor’s degree in Agricultural and Resource a Master’s degree in Management from a Bachelor’s degree in Economics from
Economics from Institut Pertanian Bogor. Universitas Pendidikan Nasional. Appointed as Universitas Kristen Indonesia. Appointed as
Appointed as Regional CEO of Regional Office Regional CEO of Regional Office 05 based on Regional CEO of Regional Office 06 based on
04 based on Board of Directors’ Decree No. Board of Directors’ Decree No. KP/284.5/DIR/R Board of Directors’ Decree No. KP/284.6/DIR/R
KP/284.4/DIR/R dated June 15, 2023 dated June 15, 2023 dated June 15, 2023
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Muhammad Arafat Anak Agung Agustiya Iwan Ariawan
Regional CEO of Regional Office 07 Novitayanti Regional CEO of Regional Office 09
Regional CEO of Regional Office 08
53 years old as of December 31, 2023. Holds a 43 years old as of December 31, 2023. Holds a 53 years old as of December 31, 2023. Holds
Bachelor’s degree in Agricultural and Resource Master’s degree in Development Economics a Master’s degree in Financial Management
Economics from Institut Pertanian Bogor. from Universitas Udayana. Appointed as from Universitas Riau. Appointed as Regional
Appointed as Regional CEO of Regional Regional CEO of Regional Office 08 based on CEO of Regional Office 09 based on Board of
Office 07 based on Board of Directors’ Decree Board of Directors’ Decree No. KP/284.17/DIR/R Directors’ Decree Decree No. KP/284.8/DIR/R
No. KP/284.7/DIR/R dated June 15, 2023 dated June 15, 2023 dated June 15, 2023
Rudy Sihombing Lodewyck Z.S. Pattihahuan Mahrauza Purnaditya
Regional CEO of Regional Office 10 Regional CEO of Regional Office 11 Regional CEO of Regional Office 12
51 years old as of December 31, 2023. Holds 54 years old as of December 31, 2023. Holds a 53 years old as of December 31, 2023. Holds a
a Master’s degree in Business Administration Master’s degree in Management from Institute Master’s degree in Agribusiness from Institut
from the University of Saint Louis. Appointed Bisnis Nusantara. Appointed as Regional Pertanian Bogor. Appointed as Regional CEO of
as Regional CEO of Regional Office 10 based on CEO of Regional Office 11 based on Board of Regional Office 12 based on Board of Directors’
Board of Directors’ Decree No. KP/284.9/DIR/R Directors’ Decree No. KP/284.10/DIR/R dated Decree No. KP/284.11/DIR/R dated June 15, 2023
dated June 15, 2023 June 15, 2023
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Faizal Arief Setiawan Koko Prawira Butar Butar Ariyanto Soewondo Geni
Regional CEO of Regional Office 14 Regional CEO of Regional Office 15 Regional CEO of Regional Office 16
53 years old as of December 31, 2023. Holds a 43 years old as of December 31, 2023. Holds a 53 years old as of December 31, 2023. Holds
Master’s degree in Finance from Universitas Master’s degree in Development Economics a Master’s degree in Legal Studies from
Gadjah Mada,. Appointed as Regional CEO from Universitas Sumatera Utara. Appointed Universitas Indonesia. Appointed as Regional
of Regional Office 14 based on Board of as Regional CEO of Regional Office 15 based on CEO of Regional Office 16 based on Board of
Directors’ Decree No. KP/284.12/DIR/R dated Board of Directors’ Decree No. KP/284.13/DIR/R Directors’ Decree No. KP/284.14/DIR/R dated
June 15, 2023 dated June 15, 2023 June 15, 2023
Beby Lolita Indriani Muhamad Jauhary
Regional CEO of Regional Office 17 Regional CEO of Regional Office 18
53 years old as of December 31, 2023. Holds a 47 years old as of December 31, 2023. Holds
Master’s degree in Banking Management from a Master’s degree in Management from the
Universitas Padjajaran. Appointed as Regional University of Ateneo De Manila Philippines.
CEO of Regional Office 17 based on Board of Appointed as Regional CEO of Regional Office
Directors’ Decree No. KP/284.15/DIR/R dated 18 based on Board of Directors’ Decree No.
June 15, 2023 KP/634/DIR/R dated August 16, 2023
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HEADS OF THE OVERSEAS OFFICES
Edy Pramono Yudhi Zufrial Farid Faraitody
Seoul Overseas Branch General Manager Tokyo Overseas Branch General Manager Hong Kong Overseas Branch General
Manager
42 years old as of December 31, 2023. 54 years old as of December 31, 2023. Holds a 45 years old as of December 31, 2023. Holds
Holds a Bachelor’s degree in Economics in Master’s degree in Agribusiness Management a Bachelor’s degree in International Relations
Management from Universitas Indonesia. from Institut Pertanian Bogor. Appointed from Universitas Jember. Appointed as Hong
Appointed as Seoul Overseas Branch General Tokyo Overseas Branch General Manager Kong Overseas Branch General Manager
Manager based on Decree No. KP/2058/HCE/1/R based on Decree No. KP/190/HCT/1/R dated based on Decree No. KP/2059/HCE/1/R dated
dated December 6, 2022. March 01, 2021. December 6, 2022
Roekma Hari Adji Vilia Husin
London Overseas Branch General Manager New York Overseas Branch General Manager
53 years old as of December 31, 2023. Holds 44 years old as of December 31, 2023. Holds a
a Master’s degree in Management from Master’s degree in Financial Mathematics from
Universitas Pancasila. Appointed as London the University of Chicago. Appointed as New
Overseas Branch General Manager based on York Overseas Branch General Manager based
Decree No. KP/1380/HCT/1/R dated December on Letter of Appointment No. HCE/5/1170/R
8, 2020. dated March 15, 2023
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Laika Saputra Rudianto Dwi Putranto Cahyo Wibowo
Singapore Overseas Branch General Head of Amsterdam Representative Office
Manager
50 years old as of December 31, 2023. Holds 38 years old as of December 31, 2023. Holds
a Master’s degree from Columbia University. a Master of Science degree in Finance and
Appointed as Singapore Overseas Branch Business Economics from Manchester
General Manager based on Decree No. Business School, the University of Manchester.
HCE/5/856/R dated November 15, 2021 Appointed as Head of Amsterdam
Representative Office on May 11, 2022, based
on HCE Division Appointment Letter No.
HCE/5/0028/R dated January 5, 2023
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Employee
Demographics
As of December 31, 2023, the number of BNI employees reached 27.570 people, an increase of 400 people, or 1.47%
compared to 27,170 employees as of December 31, 2022.
The Bank’s policies for recruitment, performance evaluation, remuneration and career development for employees does
not discriminate against ethnicity, religion, race, class, gender and physical condition. This can be seen in the tables
presented below:
Total Employees Based on Gender Total Employees Based on Gender
(people)
14,378 14,139
Gender 2023 2022
Male 13,192 13,031 13,192 13,031
Female 14,378 14,139
Male
Total 27,570 27,170
Female
2023 2022
Total Employees Based on Position Level
(people)
2023 2022
Position Level
Male Female Total Male Female Total
≥ Senior Vice President* 83 28 111 68 25 93
Vice President 156 49 205 181 50 231
Assistant Vice President 846 407 1,253 901 413 1,314
Manager 2,027 1,491 3,518 2,016 1,420 3,436
Assistant Manager 5,691 5,860 11,551 5,380 5,640 11,020
Assistant 4,375 6,543 10,918 4,467 6,591 11,058
Basic Employee 14 14 18 - 18
Total 13,192 14,378 27,570 13,031 14,139 27,170
*) Consists of: Senior Vice President (SEVP), Executive Vice President (EVP) and Senior Vice President (SVP)
Total Employees Based on Position Level 2022-2023
6,543
2023 5,691
5,860
4,375
Male
Female 2,027
1,491
846
156 407
83
28 49 14
Senior Vice Vice Assistant Vice Manager Assistant Assistant Basic Employee
President President President Manager
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6,591
2022 5,380
5,640
4,467
Male
Female
2,016
1,420
901
181 413
68
25 50 18
Senior Vice Vice Assistant Vice Manager Assistant Assistant Basic Employee
President President President Manager
Total Employees Based on Age Group
(people)
2023 2022
Age
Male Female Total Male Female Total
>50 tahun 1,359 1,035 2,394 1,601 1,032 2,633
>45-50 tahun 1,625 1,222 2,847 1,285 1,037 2,322
>40-45 tahun 1,543 1,550 3,093 1,965 1,838 3,803
>35-40 tahun 2,103 2,181 4,284 1,603 1,550 3,153
>30-35 tahun 3,064 3,834 6,898 3,210 4,075 7,285
>25-30 tahun 2,719 3,462 6,181 2,724 3,597 6,321
≤25 tahun 779 1,094 1,873 643 1,010 1,653
Total 13,192 14,378 27,570 13,031 14,139 27,170
Total Employees Based on Age Group 2022-2023
2023 3,834
3,462
3,064
2,719
Male 2,103 2,181
Female
1,625
1,543 1,550
1,359 1,222
1,035 1,094
779
>50 years >45-50 years >40-45 years >35-40 years >30-35 years >25-30 years ≤25 years
2022 4,075
3,597
3,210
Male 2,724
Female
1,965
1,838
1,603 1,550
1,601
1,285
1,032 1,037 1,010
643
>50 years >45-50 years >40-45 years >35-40 years >30-35 years >25-30 years ≤25 years
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Total Employees Based on Education level 2022-2023
(people)
2023 2022
Education level
Male Female Total Male Female Total
Doctorate Degree 9 4 13 7 4 11
Master’s Degree 1,625 1,219 2,844 1,627 1,151 2,778
Bachelor’s Degree 10,515 11,731 22,246 10,335 11,511 21,866
Academic 724 1,421 2,145 679 1,467 2,146
Primary – Senior High School 319 3 322 363 6 369
Total 13,192 14,378 27,570 13,031 14,139 27,170
Total Employees Based on Education level 2022-2023
2023 10,515 11,731
Male
Female
1,625 1,421
1,219
724 319
9 4 3
Doctorate Master’s Degree Bachelor’s Academic Primary – Senior
Degree Degree High School
2022 10,335 11,511
Male
Female
1,627 1,467
1,151
679 363
7 4 6
Doctorate Master’s Degree Bachelor’s Academic Primary – Senior
Degree Degree High School
Total Employees Based on Employment Status
(people)
2023 2022
Employment Status
Male Female Total Male Female Total
Permanent 12,150 13,310 25,460 12,203 13,131 25,334
Contract 647 728 1,375 606 761 1,367
Trainee 395 340 735 222 247 469
Total 13,192 14,378 27,570 13,031 14,139 27,170
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Total Employees Based on Employment Status 2022-2023
2023 2022
13,310 13,131
Male 12,203 Male
12,150
Female Female
647 728 761
606
340 247
395 222
Permanent Contract Trainee Permanent Contract Trainee
Total Employees Based on Generation
(people)
2023 2022
Generation
Male Female Total Male Female Total
Baby Boomer (59-77 tahun) - 2 2 - 2 2
Gen X (47-58 tahun) 4,238 3,525 7,763 4,685 3,729 8,414
Gen Y (29-46 tahun) 6,602 7,767 14,369 6,668 8,002 14,670
Gen Z (13-28 tahun) 2,352 3,084 5,436 1,678 2,406 4,084
Jumlah 13,192 14,378 27,570 13,031 14,139 27,170
Total Employees Based on Generation 2022-2023
2023 7,767
Male
2022 8,002
Male
6,602 6,668
Female Female
4,685
4,238 3,729
3,525
3,084 2,406
2,352 1,678
2
2
Baby Gen X Gen Y Gen Z Baby Gen X Gen Y Gen Z
Boomer Boomer
EMPLOYEE COMPETENCY DEVELOPMENT
COMPETENCY DEVELOPMENT POLICY
BNI understands that Human Capital is its largest asset and is an important component in supporting the implementation
of BNI’s strategy. Therefore, in a planned and sustainable manner, BNI provides equal opportunities for all employees
to participate in competency training and development. Up to the end of December 2023, BNI organized education and
training programs for 27,216 employees or 98.72% of the total number of employees, with a total of 237,161 training
participants, or on average training per employee of 8.6 times.
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Total Training Hours Training Hours per Number of Training Number of Trained
Total Employees
(in hours) Employee Participants Employees (people)
27,570 3,905,301 143,5 237,161 27,216
The following shows the top 5 (five) training and competency development followed by each position level, based on
the Position Level and Gender Equality in 2023.
Competency Development Based on Position Level and Gender Equality in 2023
Number of Participants *)
No. Position Level Type of Training Purpose of Training
M F Total
Improve leadership
Leadership 231 68 299
capabilities
Develop the capabilities
of officers related to the
Finance & Human Capital 373 105 478
finance and human capital
sectors
Improve the ability of
IT, Digital & Operations officers related to aspects 251 69 320
of IT, digital & operations
Develop the capabilities
Legal, Governance, Audit & of officers in the field of
23 10 33
Compliance legal, governance, audit &
compliance
Improve employee
1 Vice President capabilities related
Network & Services 105 25 130
to regional business
management
Improve employee
Retail Banking knowledge related to retail 158 36 194
banking
Improve employee
understanding related
Risk and Anti Fraud to aspects of risk 276 74 350
management and anti-
fraud
Develop employee
Wholesale, Treasury & capabilities related to
183 50 233
International Banking wholesale, treasury &
international banking
Increase leadership
Leadership 1,204 607 1,811
capabilities
Develop employee
capabilities related to the
Finance & Human Capital 2,096 1,061 3,157
financial and human capital
sectors
Increase employee
capabilities related to
IT, Digital & Operations 1,306 575 1,881
IT, digital & operations
aspects
Develop employee
Legal, Governance, Audit & capabilities in the areas of
169 94 263
Compliance legal, governance, audit &
compliance
2 Assistant Vice President Increase employee
Network & Services capabilities related
577 291 868
Academy to regional business
management
Increase employee
Retail Banking knowledge related to retail 1,205 521 1,726
banking
Increase employee
understanding related
Risk and Anti Fraud to aspects of risk 2,057 952 3,009
management and anti-
fraud
Develop employee
Wholesale, Treasury & capabilities related to
1,045 563 1,608
International Banking wholesale, treasury &
international banking
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Competency Development Based on Position Level and Gender Equality in 2023
Number of Participants *)
No. Position Level Type of Training Purpose of Training
M F Total
Increase leadership
Leadership 3,078 2,446 5,524
capabilities
Develop employee
capabilities related to the
Finance & Human Capital 6,152 4,941 11,093
finance and human capital
sectors
Increase employee
capabilities related to
IT, Digital & Operations 4,178 3,296 7,474
IT, digital & operations
aspects
Develop employee
Legal, Governance, Audit & capabilities in the areas of
515 454 969
Compliance legal, governance, audit &
compliance
3 Manager Increase employee
Network & Services capabilities related
1,556 1,212 2,768
Academy to regional business
management
Increase employee
Retail Banking knowledge related to retail 2,410 1,889 4,299
banking
Increase employee
understanding related
Risk and Anti Fraud to aspects of risk 5,893 4,585 10,478
management and anti-
fraud
Develop employee
Wholesale, Treasury & capabilities related to
2,824 2,315 5,139
International Banking wholesale, treasury &
international banking
Increase leadership
Leadership 5,940 5,999 11,939
capabilities
Develop employee
capabilities related to the
Finance & Human Capital 11,741 11,973 23,714
finance and human capital
sectors
Increase employee
capabilities related to
IT, Digital & Operations 8,585 8,557 17,142
IT, digital & operations
aspects
Develop employee
Legal, Governance, Audit & capabilities in the areas of
1,225 1,438 2,663
Compliance legal, governance, audit &
compliance
4 Assistant Manager Increase employee
Network & Services capabilities related
3,199 3,753 6,952
Academy to regional business
management
Increase employee
Retail Banking knowledge related to retail 7,037 7,199 14,236
banking
Increase employee
understanding related
Risk and Anti Fraud to aspects of risk 11,080 11,638 22,718
management and anti-
fraud
Develop employee
Wholesale, Treasury & capabilities related to
5,724 5,784 11,508
International Banking wholesale, treasury &
international banking
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Competency Development Based on Position Level and Gender Equality in 2023
Number of Participants *)
No. Position Level Type of Training Purpose of Training
M F Total
Increase leadership
Leadership 3,484 3,848 7,332
capabilities
Develop employee
capabilities related to the
Finance & Human Capital 8,050 8,805 16,855
finance and human capital
sectors
Increase employee
capabilities related to
IT, Digital & Operations 6,159 7,193 13,352
IT, digital & operations
aspects
Develop employee
Legal, Governance, Audit & capabilities in the areas of
642 989 1,631
Compliance legal, governance, audit &
compliance
< Assistant (Assistant & Increase employee
5
Basic Employee) Network & Services capabilities related
2,570 2,344 4,914
Academy to regional business
management
Increase employee
Retail Banking knowledge related to retail 4,875 5,518 10,393
banking
Increase employee
understanding related
Risk and Anti Fraud to aspects of risk 5,231 6,472 11,703
management and anti-
fraud
Develop employee
Wholesale, Treasury & capabilities related to
3,756 4,443 8,199
International Banking wholesale, treasury &
international banking
COST OF COMPETENCY DEVELOPMENT
All training and education provided in the context of competency development is borne by the Bank with 2023 Education
and Training costs amounting to IDR346.2 billion, an increase of 29.6% compared to 2022. This increase was due to
capability development programs for key employees who occupied new positions after the implementation of the New
Way of Working (NWoW).
Competency Development Costs (Bank Only)
Increase/ Increase/
2023 2022
Description Decrease Decrease
(IDR Billion) (IDR Billion)
(IDR Billion) (%)
Education and Training 346,2 267,1 79,1 29.6%
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Shareholder Structure
and Composition
Government of Republic of Indonesia Public
60,00% 40,00%
Controlling Path Non-Controlling Line
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Company Shareholders Composition as of January 1, 2023
No Investor Total Investor Number of Shares* Ownership %
National Investors
1 Government of Republic of Indonesia 1 11,189,193,875 60.000 00
2 Indonesian Individuals 116,968 781,592,438 4.19115
3 Cooperatives 24 1,126,759 0.00604
4 Foundations 37 24,694,504 0.13242
5 Pension Funds 163 842,826,857 4.51950
6 Insurance 173 539,482,230 2.89287
7 Banks 6 3,214,200 0.01724
8 Limited Liability Companies 260 50,971,028 0.27332
9 Mutual Funds 1 366 0.00000
10 Other Business Entities 5 5,298 0.00003
11 Mutual Funds 316 607,321,424 3.25397
Sub Total 117,954 14,039,928,979 75.28654
Foreign Investors
1 Foreign Individuals 254 1,690,862 0.00907
2 Foreign Business Enterprises 1,485 4,607,036,617 24.70439
Sub Total 1,739 4,608,727,479 24.71346
Total 119,693 18,648,656,458 100.00000
*The number of shares is presented after taking into account the 1:2 Stock Split, the Company’s stock split was effective on October 6, 2023
Company Shareholders Composition as of December 31, 2023
No Investor Total Investor Number of Shares* Ownership %
National Investors
1 Government of Republic of Indonesia 1 22,378,387,750 60.00000
2 Indonesian Individuals 118,458 1,594,259,654 4.27446
3 Cooperatives 19 839,218 0.00225
4 Foundations 39 41,489,470 0.11124
5 Pension Funds 133 1,489,922,804 3.99472
6 Insurance 180 636,524,360 1.70662
7 Banks 8 47,137,900 0.12638
8 Limited Liability Companies 291 86,263,195 0.23129
9 Mutual Funds 1 132 0.00000
10 Other Business Entities 5 10,596 0.00003
11 Mutual Funds 285 898,857,966 2.40998
Sub Total 119,420 27,173,693,045 72.85697
Foreign Investors
1 Foreign Individuals 296 3,701,924 0.00993
2 Foreign Business Enterprises 1,519 10,119,917,947 27.13310
Sub Total 1,815 10,123,619,871 27.14303
Total 121,235 37,297,312,916 100.00000
*The number of shares held by shareholders at the end of 2023 was also influenced by the stock split of BNI shares, which was effective on October 6, 2023, resulting in the
doubling of the number of shares before October 6, 2023, in line with a stock split ratio of 1:2.
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20 Largest BNI Shareholders Composition as of January 1, 2023
Number of
No Investor % Status Location
Shares*
1 Government of Republic of Indonesia 11,189,193,875 60.00 Republic of Indonesia Jakarta
2 BPJS Ketenagakerjaan – Program JHT 578,850,768 3.10 Local Business Enterprise Jakarta
3 Winarno Tjajadi 250,000,000 1.34 Indonesian individual Sidoarjo
BNYM RE BNYMLB RE EMPLOYEES
4 247,576,153 1.33 Foreign Business Enterprise Malaysia
PROVIDENTFD
CITIBANK SINGAPORE S/A GOVERNMENT
5 124,572,134 0.67 Foreign Business Enterprise Singapura
OF SINGAPORE
CITIBANK NEW YORK S/A GOVERNMENT OF
6 119,649,500 0.64 Foreign Business Enterprise Norwegia
NORWAY 15
JPMCB NA RE - VANGUARD EMERGING
7 103,188,476 0.55 Foreign Business Enterprise Amerika Serikat
MARKETS
8 BPJS Ketenagakerjaan – Program JP 101,978,300 0.55 Local Business Enterprise Jakarta
JPMCB NA RE-VANGUARD TOTAL
9 98,058,956 0.53 Foreign Business Enterprise Amerika Serikat
INTERNATIONAL
CITIBANK NEW YORK S/A GOVERNMENT
10 86,500,000 0.46 Foreign Business Enterprise Norwegia
OF NORWAY 23
11 Prudential Life Assurance 84,377,916 0.45 Local Business Enterprise Jakarta
BNYMSANV RE BNYMSANVLUX RE S/A
12 78,425,536 0.42 Foreign Business Enterprise Belgia
ESPRING INV
13 AXA Mandiri Financial Services 72,162,500 0.39 Local Business Enterprise Jakarta
14 JP MORGAN SECURITIES PLC 68,985,732 0.37 Foreign Business Enterprise Inggris
STATE STREET BANK-ISHARES CORE MSCI
15 65,630,200 0.35 Foreign Business Enterprise Amerika Serikat
EMERGING MARKETS ETF
STATE STREET BANK-PRINCIPAL GLOBAL
16 INVES TORS COLLECTIVE INVESTMENT 63,498,400 0.34 Foreign Business Enterprise Amerika Serikat
TRUST
BNYMSANV RE BNYM RE PEOPLE'S BANK Republik Rakyat
17 62,374,400 0.33 Foreign Business Enterprise
OF CHINA Tiongkok
CITIBANK NEW YORK S/A GOVERNMENT
18 57,506,000 0.31 Foreign Business Enterprise Norwegia
OF NORWAY 1
CITIBANK NEW YORK S/A GOVERNMENT
19 56,900,000 0.31 Foreign Business Enterprise Norwegia
OF NORWAY 16
20 SUWANTARA GOTAMA 52,000,000 0.28 Indonesian individual Jakarta
*The number of shares is presented after taking into account the 1:2 Stock Split, the Company’s stock split was effective on October 6, 2023
20 Largest BNI Shareholders Composition as of December 31, 2023
Number of
No Investor % Status Location
Shares*
1 Government of Republic of Indonesia 22,378,387,750 60.00 Republic of Indonesia Jakarta
2 DJS Ketenagakerjaan Program JHT 1,173,238,336 3.15 Pension Fund Jakarta
3 WINARNO TJAJADI 678,000,000 1.82 Indonesian individual Sidoarjo
BNYM RE BNYMLB RE EMPLOYEES
4 228,836,806 0.61 Foreign Business Enterprise Kuala Lumpur
PROVIDENTFD
JPMSE AMS RE AIF CLT RE-STICHTING
5 DEPOSITARY APG EMERGING MARKETS EQUITY 224,409,068 0.60 Foreign Business Enterprise Belanda
POOL
JPMCB NA RE-VANGUARD TOTAL INTERNATIONALS
6 203,936,112 0.55 Foreign Business Enterprise Amerika Serikat
STOCK INDEX FUND
JPMCB NA RE - VANGUARD EMERGING
7 202,201,052 0.54 Foreign Business Enterprise Amerika Serikat
MARKETS STOCK INDEX FUND
8 DJS KETENAGAKERJAAN PROGRAM JP 195,356,600 0.52 Pension Fund Jakarta
CITIBANK NEW YORK S/A GOVERNMENT OF
9 174,500,000 0.47 Foreign Business Enterprise Norwegia
NORWAY
HSBC BANK PLC S/A SAUDI CENTRAL BANK-NO.
10 171,150,176 0.46 Foreign Business Enterprise Arab Saudi
2-FE-INVESCO HBEU AS AGENT
STATE STREET BANK-MFS EMERGING MARKETS
11 165,702,900 0.44 Foreign Business Enterprise Amerika Serikat
EQUITY FUND
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20 Largest BNI Shareholders Composition as of December 31, 2023
Number of
No Investor % Status Location
Shares*
CITIBANK NEW YORK S/A GOVERNMENT OF
12 165,000,000 0.44 Foreign Business Enterprise Norwegia
NORWAY
BNYMSANV RE BNYMSANVLUX RE S/A ESPRING
13 151,958,072 0.41 Foreign Business Enterprise Luxembourg
INV
CITIBANK SINGAPORE S/A GOVERNMENT OF
14 138,503,168 0.37 Foreign Business Enterprise Singapura
SINGAPORE
CITIBANK NEW YORK S/A GOVERNMENT OF
15 138,474,000 0.37 Foreign Business Enterprise Norwegia
NORWAY
16 MORGAN STANLEY AND CO INTL PLC - FIRM AC 138,280,898 0.37 Foreign Business Enterprise Inggris
BNYMSANV RE SANVLUX RE INVESCO
17 135,435,800 0.36 Foreign Business Enterprise Luxembourg
FUNDS-2039845493
STATE STREET BANK-ISHARES CORE MSCI
18 133,705,400 0.36 Foreign Business Enterprise Amerika Serikat
EMERGING MARKETS ETF
THE NT TST CO S/A BRITISH COLUMBIA
19 128,348,500 0.34 Foreign Business Enterprise Kanada
INVESTMENT MANAGEMENT CORPORATION
STATE STREET BANK-PRINCIPAL GLOBAL
20 126,996,800 0.34 Foreign Business Enterprise Amerika Serikat
INVESTORS COLLECTIVE INVESTMENT TRUST
*The number of shares is presented after taking into account the 1:2 Stock Split, the Company’s stock split was effective on October 6, 2023
Shareholders with 5% or Over Ownership
January 1, 20223 December 31, 2023*
Name of Shareholder Ownership Ownership
Number of Shares Number of Shares
Percentage (%) Percentage (%)
Republic of Indonesia 11,189,193,875 60.0 22,378,387,750 60.0
*The number of shares is presented after taking into account the 1:2 Stock Split, the Company’s stock split was effective on October 6, 2023
Shareholders with Less Than 5% Ownership
January 1, 20223 December 31, 2023*
No Shareholder Group Number of Number of Percentage Number of Number of Percentage
Shareholders Shares Ownership % Shareholders Shares Ownership %
Domestic Investors
1 Indonesian Individuals 116,968 781,592,438 4.19115 118,458 1,594,259,654 4.27446
2 Cooperatives 24 1,126,759 0.00604 19 839,218 0.00225
3 Foundations 37 24,694,504 0.13242 39 41,489,470 0.11124
4 Pension Funds 163 842,826,857 4.51950 133 1,489,922,804 3.99472
5 Insurance 173 539,482,230 2.89287 180 636,524,360 1.70662
6 Banks 6 3,214,200 0.01724 8 47,137,900 0.12638
Limited Liability
7 260 50,971,028 0.27332 291 86,263,195 0.23129
Companies
8 Government Agencies 1 366 0.00000 1 132 0.00000
Other Business
9 5 5,298 0.00003 5 10,596 0.00003
Enterprises
10 Mutual Funds 316 607,321,424 3.259397 285 898,857,966 2.40998
Sub Total 117,953 2,850,735,104 15.28654 119,420 4,795,305,295 12.85697
Overseas Investors
Foreign Business
1 1,485 1,690,862 24.70439 1,519 10,119,917,947 27.13310
Enterprises
2 Foreign Individuals 254 4,607,036,617 0.00907 296 3,701,924 0.00993
Sub Total 1,739 4,608,727,479 24.71346 1,765 10,121,189,496 27.14303
Total 119,692 7,459,462,583 40.0000 102,873 14,918,922,360 40.0000
*The number of shares is presented after taking into account the 1:2 Stock Split, the Company’s stock split was effective on October 6, 2023
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Share Ownership (Direct and Indirect) by the Board of Directors and Board of Commissioners
January 1, 2023
Direct Ownership Indirect Ownership
Number
Nama Jabatan
Number of Shares Percentage
Percentage
of Shares (shares)/ Ownership
Ownership (%)
(shares)** Company (%)
Name
BOARD OF DIRECTORS
Royke Tumilaar President Director 399,539 0.0021425 - -
Adi Sulistyowati Vice President Director 641,532 0.0034401 - -
Novita Widya Anggraini Finance Director 339,607 0.0018211 - -
Digital and Integrated
Corina Leyla Karnalies Transaction Banking 565,602 0.0030329 - -
Director
Enterprise and
Sis Apik Wijayanto Commercial and 655,558 0.0035153 - -
Banking Director
Risk Management
David Pirzada 305,607 0.0016388 - -
Director
Wholesale and
Silvano Winston
International Banking 339,607 0.0018211 - -
Rumantir
Director
Network & Services
Ronny Venir 645,413 0.0034609 - -
Director
Institutional Banking
Muhammad Iqbal 339,607 0.0018211 - -
Director
Putrama Wahju Setyawan Retail Banking Director 798,265 0.0042805 - -
Human Capital and
Mucharom 129,076 0.0006921 - -
Compliance Director
Technology &
Toto Prasetio - - - -
Operations Director
BOARD OF COMMISSIONERS
President
Commissioner/
Pradjoto - - - -
Independent
Commissioner
Vice President
Pahala Nugraha Mansury - - - -
Commissioner
Askolani Commissioner 340,063 0.0018235
Susyanto Commissioner 252,817 0.0013557
Fadlansyah Lubis Commissioner - - - -
Robertus Billitea Commissioner - - - -
Independent
Erwin Rijanto Slamet - - - -
Commissioner
Independent
Sigit Widyawan - - - -
Commissioner
Independent
Asmawi Syam - - - -
Commissioner
Independent
Septian Hario Seto - - - -
Commissioner
Independent
Iman Sugema - - - -
Commissioner
*The number of shares is presented after taking into account the 1:2 Stock Split, the Company’s stock split was effective on October 6, 2023
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Share Ownership (Direct and Indirect) by the Board of Directors and Board of Commissioners
December 31, 2023*
Direct Ownership Indirect Ownership
Number of Shares Percentage Ownership Number of Shares (shares)/ Percentage Ownership
(lembar) (%) Company Name (%)
1,115,346 0.0029904 - -
905,706 0.0024283 - -
948,044 0.0025419 - -
1,442,034 0.0038663 - -
1,579,946 0.0042361 - -
880,044 0.0023595 - -
948,044 0.0025419 - -
1,559,656 0.0041817 - -
948,044 0.0025419 - -
1,686,386 0.0045215 - -
348,008 0.0009331 - -
89,856 0.0002409 - -
- - - -
- - - -
809,086 0.0021693 - -
634,594 0.0017014 - -
43,484 0.0001166 - -
42,400 0.0001137 - -
- - - -
- - - -
- - - -
- - - -
- - - -
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Shareholders and Percentage of Ownership Based on Classification as of December 31, 2023
Shareholders Number of Shareholders Total Shares (Shares) Ownership (%)
Local Institutions 962 25,579,433,391 68.58251
Foreign Insitutions 1,519 10,119,917,947 27.13310
Local Individuals 118,458 1,594,259,654 4.27446
Foreign Individuals 296 3,701,924 0.00993
*The number of shares is presented after taking into account the 1:2 Stock Split, the Company’s stock split was effective on October 6, 2023
Information on the Company’s
Majority and Controlling Shareholder
The majority/controlling shareholder of the Bank, either directly or indirectly, is the Republic of Indonesia, represented
by the Government of the Republic of Indonesia/Ministry of State-Owned Enterprises (SOE), with ownership of 60.00%
or 22,378,387,750 shares. The Government of the Republic of Indonesia is also the name of the ultimate owner of the
Company.
Majority and Controlling Shareholders
Government of Republic of Indonesia
60,00%
Number of Shares Percentage Ownership
Name of Shareholder Address
(shares) (%)
Kantor Kementerian BUMN
Jl. Medan Merdeka Selatan No. 13
Government of the Republic of
Jakarta Pusat 10110
Indonesia
DKI Jakarta, Indonesia 22,378,387,750 60.00
Represented by the Ministry of
Telp. +62 21 29935678
State-Owned Enterprises
Fax. +62 21 29935740
www.bumn.go.id
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List of Subsidiaries
and/or Associated Entities
SUBSIDIARIES
Year of Year of Commercial
Name Line of Business Domicile
Establishment Operation
PT BNI Multifinance Financing Jakarta 1983 1983
Brokerage and Underwriter
PT BNI Sekuritas including acting as Investment Jakarta 1995 1995
Advisor
PT BNI Life Insurance Life Insurance Services Jakarta 1996 1997
BNI Remittance Ltd. Remittance Services Hong Kong 1997 1998
PT Bank Hibank Indonesia Banking Jakarta 1993 1993
PT BNI Modal Ventura Venture Jakarta 2022 2023
INDIRECT SUBSIDIARIES THROUGH PT BNI SEKURITAS
PT BNI Asset Management Investment Manager Jakarta 2011 2011
Brokerage Services,
BNI Securities Pte. Ltd. Underwriting, and Advisory Singapura 2021 2021
Activities in the Capital Market
ASSOCIATED ENTITIES
PT Pemeringkat Efek
Securities Rating Jakarta 1994 1994
Indonesia
PT Kustodian Sentral Efek
Central Custodian Jakarta 1998 1998
Indonesia
PT Bank Mizuho Indonesia Banking Jakarta 2001 2001
PT Bank BTPN Tbk Banking Jakarta 1958 1960
PT Bank Syariah Indonesia
Perbankan Jakarta 2021 2021
Tbk
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BNI Ownership (%)
Year of Last Capital Operational Total Assets 2023
Participation Status (Rp-million)
2023 2022
2023 99.99% 99.99% Operating 3,788,690
2019 75.00% 75.00% Operating 2,383,585
2012 60.00% 60.00% Operating 24,972,042
2009 100.00% 100.00% Operating 11,537
2022 63.92% 63.92% Operating 14,615,844
2022 99.98% 99.98% Beroperasi 511,415
2011 99.90% 99.90% Operating 194,585
2023 100.00% 100.0% Operating 120,009
301,661
2014 0.14% 0.16% Operating
(31 Dec 2022)
3,582,506
2022 2.50% 2.50% Operating
(30 Sep 2023)
81,741,308
2020 1.00% 1.00% Operating
(30 Nov 2023)
176,094,273
2020 0.15% 0.15% Operating
(30 Nov 2023)
353,624,124
2021 23.24% 23.24% Operating
(31 Dec 2023)
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BRIEF INFORMATION ON SUBSIDIARIES
PT BNI MULTIFINANCE
Business Name PT BNI Multifinance
Line of Business Financing
Business Profile PT BNI Multifinance was established on April 8, 1983 based on Notarial Deed by Kartini Muljadi, S.H., No. 21,
under the name of PT BNI-AMEX Leasing, is a cooperation between PT Bank Negara Indonesia (Persero) Tbk
(BNI) and American Express Leasing Corporation (AMEX). PT BNI-AMEX Leasing’s name has been amended
several times with the last one to PT BNI Multifinance, being notarized by deed No. 103 dated June 27, 1994.
BNI Multifinance commenced its commercial operations in 1983, engaging in funding Investments, Working
Capital, Multipurpose and Operating Leases. Since 2022, BNI Multifinance has refocused its business on
financing in the consumer segment. In an effort to become a Market Leader in Consumer Finance, in 2023 BNI
Multifinance increased its outlets to 30 (thirty) branch offices spread across several large cities in Indonesia
and collaborates with 622 Dealers as a business growth engine. To strengthen its identity, BNI Multifinance
also changed its commercial brand to “BNI Finance” in October 2023.
Year of Establishment 1983
Total Assets 2023 IDR3,788,690 Million
Share Ownership 99.998%
Operational Status Operating
Address Graha Binakarsa lantai 11 Lot. E-F dan lantai 12
Jalan HR. Rasuna Said Kav. C-18
Kuningan, Jakarta Selatan 12940
Company Management Board of Commissioners Board of Directors
• President / Independent Commissioner: • President Director: Yenanto Siem
Suhartono • Business Director: Albertus Henditrianto
• Commissioner: Agung Turanto Sutarno • of Finance, IT & Operations Director: Legendariah
• Commissioner: Hari Satriyono Bur Rasuanto
PT BNI SEKURITAS
Business Name PT BNI Sekuritas
Line of Business Brokerage and Underwriter including acting as Investment Advisor
Business Profile PT BNI Sekuritas (“BNI Sekuritas”) was established based on Limited Liability Company Deed No. 22 dated
April 12, 1995, as amended by Deed of Amendment No. 39 dated May 3, 1995, both of which were made
before Koesbiono Sarmanhadi, S.H., M.H., Notary in Jakarta, and was approved by the Minister of Justice of
the Republic of Indonesia based on Decree No. C2-6278.HT.01.01.TH’95 dated May 19, 1995, and registered in
the Company Register book at the Central Jakarta District Court Office under No. 903/1995 dated June 8, 1995,
and announced in the State Gazette of the Republic of Indonesia No. 55 dated July 11, 1995, Supplement No.
5804.
Based on the Articles of Association, the scope of BNI Sekuritas business activities includes securities trading,
acting as a broker-dealer, underwriter, mutual fund sales agent, securities company other than investment
management, custodian and other activities determined or approved by the authorized body/agency. BNI
Sekuritas obtained business licenses for securities brokerage, stock underwriter, investment manager, and
mutual fund selling agent from the relevant authorities, respectively through (i) Chairman of the Capital
Market Supervisory Agency Decree No. KEP-19/PM/1995, (ii) No. KEP- 020/PM/1995 dated August 8, 1995, (iii)
No. KEP-07/ PM-MI/1995 dated October 23, 1995 which were later transferred to PT BNI Asset Management,
and (iv) FSA Letter No. S-1507/PM.211/2016.
In line with capital market developments and regulations and the implementation of the investment manager
independence in accordance with Bapepam LK Regulation No. V.D.11 as stated in the Chairman of Bapepam-
LK Decree No. Kep-480/BL/2009 dated December 31, 2009 regarding guidelines for investment manager
functions, the BNI Sekuritas Investment Manager Division has been separated was established as a legal
entity subsidiary called PT BNI Asset Management (“BNI-AM”). The establishment of BNI-AM was then
approved at the Extraordinary General Meeting of Shareholders (“EGMS”) of BNI Sekuritas on March 1,
2011 with the Company’s total share ownership of BNI-AM amounting to 99.99% as outlined in the Deed of
Establishment No. 50 dated March 28, 2011 made before Fathiah Helmi, S.H., Notary in Jakarta.
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In mid 2011, the BNI Sekuritas ownership structure was strengthened by the joining of a strategic investor
from Japan, namely SBI Sekuritas Co. Ltd., to also own shares in BNI Sekuritas, so the current composition
of BNI Sekuritas share ownership is 75% owned by PT Bank Negara Indonesia (Persero) Tbk and 25% owned
by SBI Sekuritas Co. Ltd. In 2014, the ownership of SBI Securities Co. Ltd was transferred to SBI Financial
Services Co. Ltd so that the ownership of BNI Sekuritas became BNI (75%) SBI Financial Services Co. Ltd.
(25%).
As part of BNIS’ journey to become a global securities company, on September 8, 2021, a BNIS subsidiary,
BNI Securities Pte. Ltd. (“BSPL”) received approval from the Monetary Authority of Singapore (“MAS”) with
license number CMS 101132. With the BSPL operating license, BNI Sekuritas will be able to carry out capital
market service activities in Singapore, both in the business of fixed income brokerage, equity brokerage
and underwriting through BSPL. Furthermore, BSPL will focus on helping the BNI Group and BNI customers
to gain access to global investors. The BSPL Singapore operations also strengthens Bank BNI’s position as
a global bank that provides banking and capital market services. BSPL is located at 30 Cecil Street #17-08
Prudential Tower Singapore (049712), in the same building as Bank BNI Singapore Branch Office.
Throughout 2023, BNI Sekuritas’ business operations were supported by professional human resources in
their fields with 351 employees as of December 31, 2023, who will provide services to customers through 18
Branch Offices.
Year of Establishment 1995
Total Assets 2023 IDR2,383,585 Million
Share Ownership 75.00%
Operational Status Operating
Address Sudirman Plaza Indofood Tower, Lantai 16
Jl. Jenderal Sudirman Kav. 76-78, Jakarta 12910, Indonesia
Company Management Board of Commissioners Board of Directors
• President/Independent Commissioner: Riswinandi • President Director: Agung Prabowo
• Commissioner : Yoshihiro Ishiwata • Director: Nieko Kusuma
• Commissioner : I Made Sukajaya • Director: Vera Ongyono
• Director: Yoga Mulya
• SEVP Retail Markets & IT: Teddy Wishadi
PT BNI LIFE INSURANCE
Business Name PT BNI LIFE INSURANCE
Line of Business Life Insurance Services
Business Profile PT BNI Life Insurance (“BNI Life”) is a subsidiary of BNI, engaged in in the life insurance sector, including life
insurance business using Sharia principles. BNI Life offers various insurance products such as life, health,
education, investment, pension and sharia insurance.
BNI Life was originally established under the name of “PT Asuransi Jiwa BNI Jiwasraya” based on Deed
No. 24 dated November 28, 1996 in Jakarta. On November 26, 2004, the Company changed its name to
PT Asuransi Jiwa BNI Jiwasraya, which was endorsed by the Minister of Justice and Human Rights of the
Republic of Indonesia through No. C-31600 HT.01.04.TH.2004 dated December 29, 2004.
In accordance with the Articles of Association, the Company’s scope of activities is conducting business in life
insurance including life insurance business with Islamic principles. The Company obtained a license as a life
insurance company based on the Ministry of Finance of the Republic of Indonesia Number 305/KMK.017/1997
dated July 7, 1997. The Company also obtained a license to open a branch office with Islamic principles based
on the Ministry of Finance of the Republic of Indonesia No. KEP-186/KM.6/2004 dated May 19, 2004.
In early May 2014, Sumitomo Life Insurance Company (Sumitomo Life), one of the largest insurance
companies in Japan, officially became one of BNI Life’s shareholders. The equity participation realization
was IDR4.2 trillion with 40% share ownership in BNI Life. The strategic cooperation with Sumitomo Life
Insurance accelerated business growth and provided huge space to gain future business opportunities. As
proof of Sumitomo Life Insurance’s seriousness in the BNI Life business development, they have placed
representatives in BNI Life management as Commissioners, Directors, and professional experts.
BNI Life business operations are supported by competent human resources in the insurance sector. Currently,
BNI Life has 713 employees whose competencies that are continuously being developed to provide the best
service to customers.
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To carry out its business activities, as of December 31, 2023 BNI Life operates in 7 (seven) Service Offices/Service Points:
1. Jakarta: BNI Pejompongan Tower, Jl. Pejompongan Raya No. 5;
2. Bandung: Jl. Burangrang No. 38, Lengkong;
3. Denpasar: Jl. Diponegoro No. 122;
4. Semarang: Rukan Pemuda Mas Block A1-A2 Floor 2, DP Mall, Jalan Pemuda No. 150;
5. Surabaya: Graha Pangeran Building Fl. XI, JL. Achmad Yani No. 286;
6. Palembang: Jl. Basuki Rahmat No. 24B;
7. Yogyakarta: Jl. Admiral Adisucipto No.27, Gondokusuman.
*Effective as of November 27, 2023 and reporting has been madeon December 15, 2023, currently waiting for a registration letter from the
Financial Services Authority (FSA).
Year of Establishment 1996
Total Assets 2023 IDR24,972,042 Million
Share Ownership 60.00%
Operational Status Operating
Address Centennial Tower Lt. 9, Jl. Gatot Subroto Kav.24-25, Jakarta Selatan
Company Management Board of Commissioners Board of Directors
• President Commissioner / Independent • Acting. President Director (concurrently Finance
Commissioner: Parikesit Suprapto Director): Eben Eser Nainggolan
• Commissioner : Sri Indira • Director: Masaaki Fuse
• Commissioner : Muneo Sasagawa • Director: Motoharu Niijima
• Independent Commissioner: • Director: Neny Asriany
Alwi Abdurrahman Shihab
• Independent Commissioner: Sharia Supervisory Board
Henry Cratein Suryanaga • Chair: Agus Haryadi
• Member: H. Utang Ranuwijaya
• Member : Hj. Siti Haniatunnisa
PT BNI REMITTANCE LTD.
Business Name BNI Remittance Ltd.
Line of Business Remittance Services
Business Profile BNI Remittance Limited was founded by BNI Hong Kong in 1997, originally named “BNI Nakertrans Ltd.”.The
aim of its establishment was to help facilitate Indonesian Migrant Workers (PMI) who are in Hong Kong to
make money transfers.
Then, to further optimize its business activities and adapt to local authority regulations, in 2009, BNI
Nakertrans Ltd officially joined as one of BNI’s subsidiary companies and changed its name to BNI Remittance
Ltd.
BNI Remittance is currently registered as a Money Service Operator with register number 12-08-00768 and
subject to Hong Kong Custom and Excise Department. To conduct its business, BNI Remittance manages
outlets spread in 3 (three) areas of Hong Kong, namely the Keswick Main Office on Hong Kong Island, the
Tsuen Wan Branch Office, and the Yuen Long Branch Office in the New Territories.
In addition to services through these outlets, BNI Remittance collaborates with BNI in its financial inclusion
program. This program provides financial access through digital services to make it easier for Indonesian
Migrant Workers (PMI) in Hong Kong to carry out money transfer transactions. The existence of 8 (eight) BNI
ATM machines in Hong Kong, provides customers more freedom to carry out financial transactions, with the
same service features as ATM machines in Indonesia, including cash withdrawals, balance checks, transfers
between BNI/other bank accounts, purchasing credit/tickets and bill payments. Since mid-2017, BNI Mobile
Banking services can be activated directly from Hong Kong to further strengthen its digital services.
Year of Establishment 1997
Total Assets 2023 IDR11,537 Million
Share Ownership 100,00%
Operational Status Operating
Address BNI Remittance Limited Flat/RM5 on GF,
No. 1-7 Keswick Street, Causeway Bay Hong Kong
Company Management Board of Directors
• Director : Indra Kusuma
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PT BANK HIBANK INDONESIA
Business Name PT Bank Hibank Indonesia
Line of Business Banking
Business Profile PT Bank Hibank Indonesia (hibank) previously named PT Bank Mayora, is a national private bank that
operated since July 28, 1993 under a Commercial Bank business license in accordance with the Republic
of Indonesia Minister of Finance Decree No. 719/KMK.017/1993 dated July 14, 1993, and became a Foreign
Exchange Commercial Bank in 2013 based on BI Governor Decree No. 15/5/KEP.DPG/2013 dated May 7, 2013.
Since May 18, 2022, hibank has officially been a subsidiary of the BNI Group through the Minister of Law and
Human Rights (Menkumham) letter No. AHU-AH.01.03-0238599 concerning receipt of notification of changes
to hibank’s articles of association, as well as Menkumham Letter No. AHU-AH.01.09-0013352 concerning
receipt of notification of changes to hibank’s corporate data.
The change of name from PT Bank Mayora to PT Bank Hibank Indonesia was in accordance with the decisions
of the extraordinary general meetings of shareholders (EGMS) of PT Bank Mayora on January 6, 2023, and
April 11, 2023. The change also received approval from the Minister of Law and Human Rights of the Republic
of Indonesia on April 14 2023, as well as approval from members of the Board of Commissioners of the
Financial Services Authority (FSA) on May 17, 2023. The choice of the name hibank represents an identity that
is in line with the vision and mission and describes the friendly, simple, and reliable character of a digital bank
for MSMEs. The name and logo change also emphasizes Hibank’s strength and experience in the financial
industry with the support of the BNI Group.
In line with Hibank’s vision to become the first digital-based MSME bank in Indonesia, Hibank will strengthen
its role as an ecosystem orchestrator for MSMEs by providing a variety of integrated digital solutions to help
MSMEs grow higher and sustainably.
Year of Establishment 1993
Total Assets 2023 IDR14,615,844 Million
Share Ownership 63.92%
Operational Status Operating
Address Jl. Tomang Raya No. Kav.21-23
Tomang, Grogol Petamburan, Jakarta Barat, 11440
Company Management Board of Commissioners Board of Directors
• President Commissioner: Husein Paolo • President Director: Jenny Wiriyanto
Kartadjoemena • Director: Tjahojo Bengawan
• Independent Commissioner: Rufina Tinawati • Director: Tiolina Indira Aryani Tumanggor Siahaan
Marianto • Director: Andi M. Andries
• Independent Commissioner: Joys Djajanto • Director : Ir. Prihadiyanto
PT BNI MODAL VENTURA
Ventures
Business Name PT BNI Modal Ventura
Line of Business Venture Capital
Business Profile PT BNI Modal Ventura (“BNI Ventures” or “BNV”) is a subsidiary of PT Bank Negara Indonesia (Persero), Tbk
(“BNI”) which operates in the venture capital industry and was established on April 12, 2022 based on Deed
of Establishment No. 17 dated April 12, 2022. BNV received a capital investment of IDR 500.1 billion (five
hundred billion one hundred million rupiah) on May 12, 2022. On April 19 2022, the establishment of BNV
received approval from the Minister of Law and Human Rights No. AHU-0027437.AH.01.01. 2022.
BNV’s Board of Directors and Board of Commissioners passed the Fit & Proper test (F&P) process from the
Financial Services Authority (FSA) in December 2022, while the permit to carry out venture capital business
activities was approved by the FSA on January 27 2023 (based on Business License Decision Number KEP-
2/D.05/2023).
BNI is the Majority Shareholder of BNV with a total ownership of 99.98%, or 500,000 (five hundred thousand)
shares. The other shareholder is PT BNI Asset Management (BNI-AM) with ownership of 0.02%.
Year of Establishment 2022
Total Assets 2023 IDR511,415 Million
Share Ownership 99.98%
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Operational Status Operating
Address Menara BNI Lantai 2
Jl. Pejompongan Raya No.7, Jakarta Pusat 10210
Company Management Board of Commissioners Board of Directors
• President Commissioner: Rian Eriana Kaslan • President Director: Mardianto E. Danusaputro
• Independent Commissioner: Kartika Hendrawan • Director: Lugas Prancafitri
BRIEF INFORMATION ON INDIRECT SUBSIDIARIES
PT BNI ASSET MANAGEMENT
PT BNI Asset Management (BNI-AM) is a Financial Services BNI Asset Management Head Office is located at Centennial
Business in the Capital Markets industry. As a pioneer in the Tower Lt. 19, Jl. Gatot Subroto Kav. 24-25, South Jakarta.
Investment Manager business in Indonesia, BNI-AM has
license as an Investment Manager (IM) from the Capital PT BNI Asset Management’s Board of Commissioners and
Market Authority with license No. KEP-05/BL/MI/2011. This Board of Directors composition is based on a Shareholders’
investment manager business was started on October 23, Deed of Statement No. 2 dated July 3, 2023, as follows:
1995 when it joined PT BNI Sekuritas. With the development
of IM’s business, on July 7, 2011 BNI-AM conducted a spin Board of Commissioners
off from BNI Sekuritas as a Limited Liability Company. President Commissioner/
Eko Priyo Pratomo
Independent Commissioner
BNI-AM provides investment management services for Commissioner Efrizal
Third Party Funds through investment instruments in Board of Directors
the form of complete Mutual Fund products and also
Acting President Director
Fund Management Contracts. The Mutual Fund products (concurrently Business Donny Susatio Adjie
provided are Regular Mutual Fund products, Structured Director)
Mutual Funds, Special Mutual Funds and fund management Director Ade Yusriansyah
tailored to the customer’s Risk Appetite, and the period is Director Putut Endro Andanawarih
adjusted to the customer’s needs. BNI-AM also provides
Investment Advisory services based on the license issued
by OJK No: KEP-50/D.04/2017. BNI SECURITIES PTE. LTD.
BNI Securities Pte. Ltd. (“BSPL”), a wholly-owned overseas
BNI-AM is part of the BNI conglomerate, one of the largest subsidiary of PT BNI Sekuritas, was established in Singapore
state-owned banks in Indonesia, which is included in the on March 22, 2021. BSPL was established to act as a liaison
ranks of Indonesian public companies in the global class. for the BNI Group in terms of international capital market
When carrying out its business activities, BNI-AM’s business activities, including establishing communication with
grows in synergy with other BNI subsidiary companies, investment-based global institutions.
namely BNI Life, BNI Sekuritas, BNI Multifinance, BNI
Remittance and Bank Hibank. BSPL has a Capital Markets Services license issued by
the Monetary Authority of Singapore (“MAS”) to carry
Supported by a strong understanding of investment out activities regulated by MAS, specifically in the capital
in the Capital Market in Indonesia, and by having a market, including securities trading, with an initial focus
professional Investment Team, BNI-AM is ready to help on Fixed Income and other activities that are in line with
manage investors’ funds through a variety of Mutual Fund the main business in Capital Markets and Sales & Trading.
investment products ranging from Open-end Mutual Funds,
Protected Mutual Funds, and alternative investments such The BSPL Board of Directors composition is as follows:
as Limited Participation Mutual Funds (RDPT), Asset Backed Board of Directors
Securities Collective Investment Contracts (KIK-EBA), etc. Executive Director Chew Wen Yu, Edwin
Ujuan Marihot Hadijwidjaja
Non Executive Director
Panjaitan
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BRIEF INFORMATION ON ASSOCIATED ENTITIES
trading and settlement of Securities transactions in the
PT PEMERINGKAT EFEK INDONESIA Indonesian Capital Market. This application is supported
PT Pemeringkat Efek Indonesia (PEFINDO) was established by KSEI’s main system, namely The Central Depository
on December 21, 1993 on the initiative of the Capital Market and Book Entry Settlement System (C-BEST).
Supervisory Agency/BAPEPAM (now the Financial Services
Authority) and Bank Indonesia. As the first independent Seeing the very fast growth in transactions in the capital
credit rating agency in Indonesia whose reliability has market, as well as increasingly advanced systems and
been well-tested, PEFINDO plays a role in analyzing the technology developments, KSEI took the initiative to carry
probability of default by a company or debt instrument out continuous development of the C-BEST system through
in Indonesia. the new generation of C-BEST Next Generation (Next-G)
on August 8, 2018. The launch of C-BEST Next-G reflects
Having actively contributed for more than 25 years in KSEI’s effort to support the development of the Indonesian
providing rating services in Indonesia, PEFINDO has rated Capital Market, especially in terms of increasing the number
more than 1,100 entities and capital market instruments of investors and increasing the number of transaction
including Bonds and Subordinated Bonds, Sukuk, Medium settlements. Efforts to increase investor confidence
Term Securities (MTN), Securities Collective Investment in investing were realized by KSEI in 2012 through the
Contracts Asset Backed (KIK-EBA), Mutual Funds, and obligation to own a Single Investor Identification (SID).
Real Estate and Commercial Securities Investment Funds. SID is a single identity number for investors that provides
In order to support the plan to issue regional bonds in convenience in the investor identification process as well
Indonesia, since 2011 PEFINDO has also started conducting as forms the basis for other capital market developments,
analysis and ranking of regional governments in Indonesia. including the AKSes (Securities Ownership Reference)
facility.
In addition to its rating services, PEFINDO also grows its
income by actively conducting research on the Indonesian In 2016, KSEI implemented an integrated investment
capital market and publishes its own indices, called management system (S-INVEST), so that the Indonesian
PEFINDO25 and PEFINDO i-Grade, as well as its published Capital Market has an integrated platform for the investment
products, which make up one of the benchmarks for management industry. This breakthrough successfully
consideration by capital market players in Indonesia, ind led KSEI to win the award as The Best Central Securities
include the Indonesia Sectoral Review/ISR and Indonesia Depository in Southeast Asia in 2016 according to Alpha
Rating Highlights/IRH and other products that provide Southeast Asia Magazine and made Indonesia the first
information about the Indonesian capital market. country in the Southeast Asia region to have an integrated
investment management system. Optimism and dedication
The number of shares owned by BNI in PEFINDO currently has driven KSEI’s enthusiasm to advance the Indonesian
reaches 143 shares, equivalent to 0.122% ownership. The Capital Market. Armed with support from shareholders
number of shares owned by BNI Sekuritas in PEFINDO consisting of SROs (BEI and KPEI), Securities Companies,
currently reaches 15 shares, equivalent to 0.013% Custodian Banks and Securities Administration Bureaus,
ownership, so the total share ownership of BNI Group in KSEI continues to moving forward and achieve the best
PEFINDO is 0.14%. performance through various initiatives.The initiatives and
research applied continue to be developed on an ongoing
PT KUSTODIAN SENTRAL EFEK INDONESIA basis to suit the latest industry trends and market needs.
PT Kustodian Sentral Efek Indonesia (KSEI) is a Depository
and Settlement Institution (LPP) in the Indonesian Capital Regarding its affiliation with BNI, KSEI is a minority
Market that provides central Custodian services and subsidiary with direct participation, in which BNI began
settlement of Securities transactions in an orderly, fair having ownership shares since September 24, 1998. The
and efficient manner, as mandated by Law Number 8 of number of shares owned by BNI in KSEI currently reaches
1995 concerning Capital Markets. KSEI was established in 60 shares, which is equivalent to 2.50% ownership.
Jakarta on December 23, 1997 and obtained a business
license on November 11, 1998. Regarding its affiliation with BNI, KSEI is a minority
subsidiary with direct participation, in which BNI began
KSEI is a Self-Regulatory Organization (SRO), together with to own shares since September 24 1998. At present,
the Indonesia Stock Exchange (IDX) and the Indonesian the number of shares owned by BNI in KSEI reaches 60
Clearing and Guarantee Corporation (KPEI). KSEI started its shares, equivalent to 1.00% ownership. While the number
operational activities for settlement of securities transactions of shares owned by BNI Sekuritas in KSEI reaches 90 shares,
by script on January 9, 1998, taking over a similar function equivalent to 1.50% ownership, hence BNI Group’s share
from PT Kliring Depository Securities Indonesia (KDEI) as ownership in KSEI is 2.50%.
the Depository and Settlement Clearing House (LKPP). In
2000, KSEI together with other SROs implemented scripless
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PT BANK MIZUHO INDONESIA PT BANK SYARIAH INDONESIA TBK
PT Bank Mizuho Indonesia (“Bank Mizuho”) was originally Bank Syariah Indonesia (“BSI”) is a new entity born as a
established under the name PT Fuji Bank International result of the merger of three state-owned sharia banks,
Indonesia. Amendments to the Bank’s Articles of Association namely Bank Syariah Mandiri, BNI Syariah, and BRI Syariah
included a change of name from PT Bank Fuji International on February 1, 2021.
Indonesia to PT Bank Mizuho Indonesia and changes to
the Bank’s capital and Board of Commissioners and Board Given the history from the BNI side, Bank BNI Syariah
of Directors composition, following the merger of PT was originally a Sharia Business Unit (UUS) within the
Bank Dai-Ichi Kangyo Indonesia (BDKI) and PT Bank IBJ BNI organization. Then in October 2009, BNI Management
Indonesia (IBJ) with PT Fuji Bank International Indonesia through the Extraordinary General Meeting of Shareholders
which became effective on October 1, 2001. (EGMS) approved a plan to spin off the Sharia Business Unit
(UUS) to become a Sharia Commercial Bank (BUS) taking
Regarding its affiliation with BNI, Bank Mizuho is a minority into account the increasingly advanced development of the
subsidiary company with direct investment, in which BNI Islamic banking business and the increasing demands of
began to own shares since October 13, 2003. The number consumers who wanted a pure Islamic bank at that time.
of shares owned by BNI in Bank Mizuho currently reaches In June 2010, BNI Management conducted the spin off of
73,847 shares, or 1.00% ownership. PT BNI Syariah from the BNI Syariah Business Unit (UUS).
PT BANK BTPN TBK To capture the growing opportunity for the Islamic economy
Bank BTPN is a foreign exchange bank resulting from a in Indonesia, three state-owned Islamic banks, Bank Syariah
merger between PT BankTabungan Pensiunan NasionalTbk Mandiri, BNI Syariah and BRI Syariah, decided to form a
(BTPN) and PT Bank Sumitomo Mitsui Indonesia (SMBCI) strategic alliance. On February 1, 2021, which coincides
which became effective on February 1, 2019. with 19 Jumadil Akhir 1442 H, marked the merger of Bank
Syariah Mandiri, BNI Syariah and BRI Syariah into one
In the disclosure of information submitted to the Indonesia entity, namely BSI. This merger will unite the advantages
Stock Exchange (IDX) on February 5, 2019, on February 1, of these three Islamic Banks to present a more complete
2019 there has been a change in the composition of the service, a wider reach, and have a better capital capacity.
shareholders of PT Bank BTPN Tbk. Currently 97.34% of Supported by synergies with ther parent companies
BTPN’s shares are owned by Sumitomo Mitsui Banking (Mandiri, BNI, BRI) and the Government commitment
Corporation, PT Bank Negara Indonesia Tbk (BBNI) with through the Ministry of BUMN, BSI was encouraged to
0.15%, PT Bank Cental Asia Tbk (BBCA) with 1.02% and compete at the global level.
the Public with 1.49%.
As one of the controlling shareholders in BSI, the number
Bank BTPN before the merger was a bank that focused on of shares owned by BNI in BSI at the end of 2023 was
lending to the mass market (retail), while SMBCI focused 10,720,230,418 shares, or 23.24% ownership.
on the corporate business segment. Following the merger
between the two banks, Bank BTPN will become a universal
bank with a more complete business and serves wider
customer segments, from the mass market (retail) to
corporate segments.
Regarding its affiliation with BNI, Bank BTPN is a minority
subsidiary company with direct investment, in which BNI
began to own shares on April 18, 2004. The number of
shares owned by BNI in Bank BTPN is currently 12,007,137
shares, or 0. 15% ownership.
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Corporate
Group Structure
Financing Securities Life insurance
1983 | 99,99% 1995 | 75,00% 1996 | 60,00%
MAJORITY
25,00%
Manajer Investasi Sekuritas
2011 | 99,90% 2021 | 100,00%
0,50% 0,122%
MINORITY
Fintech Capital Market Payment System Securities Rating
2018 | 10,19% 1977 | 1,20% 2017 | 17,50% 1994 | 0,122%
Note:
Investment by BNI
Percentage of BNI Sekuritas ownership
Investment by BNI Sekuritas
Investment by BNI Asset Management Percentage of BNI ownership
Investment by Strategic Partners Percentage of Strategic Partner ownership
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Ventures
Remittance Banking Venture Cap.
1996 | 100,00% 2022 | 63,92% 2023 | 99,98%
40,00% 36,08% 0,02%
Mayora Inti
Utama
1,50% 1,00%
Central Custodian Banking Banking Banking
1998 | 2,50% 2003 | 1,00% 2004 | 0,15% 2021 | 23,24%
Note:
In 2022, BNI officially acquired Bank Mayora as a new bank subsidiary and established a
new subsidiary, namely BNI Ventures.
Until now, BNI does not have a joint venture company or Special Purpose Vehicle (SPV).
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Share Listing
Chronology
INITIAL PUBLIC OFFERING (IPO) LIMITED PUBLIC OFFERING II
On October 28, 1996, BNI undertook an initial public offering On July 30, 2007, the Extraordinary General Shareholders’
of 1,085,032,000 Class B shares with a par value per share of Meeting approved the issuance of up to 1,992,253,110
IDR500 (full amount) and offering price per share of IDR850 new Class C shares through Limited Public Offering II to
(full amount) to the public in Indonesia. The shares began shareholders with a par value per share of IDR375 (full
trading on the Jakarta and Surabaya Stock Exchanges amount).
(currently Indonesia Stock Exchange or IDX) on November
25, 1996. Each owner of 20 old shares whose name was registered
in the List of Shareholders of BNI as of August 9, 2007 at
LIMITED PUBLIC OFFERING I 16.00 WIB was entitled to 3 pre-emptive rights where each
right entitles the owner to buy a new share at the price of
On June 30, 1999, BNI undertook a Limited Public Offering IDR2,025 (full amount) per share. From the Limited Public
I (“LPO I”) through the issuance of pre-emptive rights of Offering II, BNI raised IDR747,094 additional share capital
151,904,480,000 Class C shares with a par value per share and IDR3,287,218 additional paid-in capital and IDR195,280
of IDR25 (full amount). Each holder of 1 share was entitled shares issuance cost.The initial trading took place on August
to buy 35 new shares for IDR347.58 (full amount) per share. 13, 2007 at the Jakarta Stock Exchange and Surabaya Stock
As a result of LPO I, BNI increased its capital by 683,916,500 Exchange (currently IDX).
Class C shares issued to the public on July 21, 1999 and the
LPO I listed in the Jakarta and Surabaya Stock Exchanges LIMITED PUBLIC OFFERING III
(currently IDX). On April 7, 2000 and June 30, 2000, BNI also
issued 151,220,563,500 Class C shares to the Government On November 25, 2010, at the Extraordinary General
of Indonesia through the recapitalization program under Shareholders’ Meeting, the shareholders decided, among
the Government Regulation No. 52 year 1999. other matters, to increase the issued and paid-up capital
through limited public offering with pre- emptive right
RECAPITALIZATION (LPO III) to shareholders for the issuance of 3,374,715,948
new Class C shares with a par value per share of IDR375
On March 30, 2000, the Ministry of Finance approved (full amount). Such pre-emptive rights can be traded
BNI’s recapitalization amounting to IDR61.8 trillion, which inside and outside the Indonesia Stock Exchange (IDX)
was IDR9 trillion higher than the amount stated in the starting December 10, 2010 until December 16, 2010, with
Government Regulation No. 52 year 1999. In connection consideration to the existing capital market regulation.
with the increase in the recapitalization amount, which From the LPO III, BNI obtained IDR1,265,519 additional
was approved in the Government Regulation No. 32 year share capital and IDR8,950,869 additional paid-in capital,
2000, BNI issued additional 44,946,404,500 Class C shares net of shares issuance cost.
without pre-emptive rights.
On July 20, 2001, BNI’s capital was reduced by 1,965,701,500
Class C shares in connection with the refund of excess
recapitalization funds to the Government of Indonesia.
The refund was approved by the shareholders at the
Extraordinary General Shareholders’ Meeting held on
June 25, 2001.
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IMPLEMENTATION OF CORPORATE ACTION STOCK SPLIT
On September 19 2023, the Extraordinary General Meeting of Shareholders (EGMS) approved a stock split and changes
to Article 4 of the Company’s Articles of Association concerning Company Capital. The Company carried out a stock split
with a split ratio of 1 (one) old share into 2 (two) new shares (1:2), effective on October 6, 2023, so that the nominal value
per Series A Dwiwarna and Series B share became IDR3,750 (three thousand seven hundred and fifty rupiah) and the
nominal value per Series C Share became IDR187.50 (one hundred eighty seven point five zero rupiah).
NAME OF THE EXCHANGE WHERE THE COMPANY’S SHARES ARE LISTED
All BNI shares have been listed on the Indonesian Stock Exchange.
BNI Share Listing Chronology
Offering
Date Description Shares Nominal value Number of Shares
Price
Prior to IPO - - - - -
Series-A @IDR500 - 1
Initial Public Offering (IPO)
November 1996 Series-B @IDR500 850 4,340,127,999
Total Capital issued and paid 4,340,128,000
Series-A @IDR500 - 1
Rights Issue (1:35) Series-B @IDR500 850 4,340,127,999
Juni 1999
Series-C @IDR25 347,58 151,904,480,000
Total Capital issued and paid 156,244,608,000
Series-A @IDR500 - 1
Issuance of new shares without pre-
Series-B @IDR500 850 4,340,127,999
Juni 2000 emptive rights
Series-C @IDR25 347,58 196,850,884,500
Total Capital issued and paid 201,191,012,500
Series-A @IDR500 - 1
Repayment of excess amount in
Series-B @IDR500 850 4,340,127,999
Juli 2001 Government Bonds
Series-C @IDR25 347,58 194,885,183,000
Total Capital issued and paid 199,225,311,000
Series-A @IDR7.500 - 1
Reverse Stock Split (15:1) Series-B @IDR7.500 12,750 289,341,866
Desember 2003
Series-C @IDR375 5,213,7 12,992,345,533
Total Capital issued and paid 13,281,687,400
Series-A @IDR7.500 - 1
Rights Issue (20:3) Series-B @IDR7.500 12,750 289,341,866
August 13, 2007
Series-C @IDR375 2,025 14,984,598,643
Total Capital issued and paid 15,273,940,510
Series-A @IDR7.500 - 1
Divestment of Indonesian State Shares
Series-B @IDR7.500 12,750 289,341,866
Agustus 2010 in BNI ex green shoe
Series-C @IDR375 2,025 14,984,598,643
Total Capital issued and paid 15,273,940,510
Series-A @IDR7.500 - 1
Rights Issue (110.473:500.000) Series-B @IDR7.500 12,750 289,341,866
December 10, 2010
Series-C @IDR375 3,100 18,359,314,591
Total Capital issued and paid 18,648,656,458
Series-A @IDR3.750 - 1
Stock Split
Series-B @IDR3.750 - 578,683,733
October 6, 2023 (1:2)
Series-C @IDR187,50 - 68,426,325,320
Total Capital issued and paid 37,297,312,916
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Other Securities
Listing Chronology
To support business growth, and to strengthen its capital with sufficient sources of funds with a good spread of tenors,
BNI has issued several bonds denominated in Rupiah and foreign currencies. The bonds include BNI Global Bonds in
2012, followed by the issuance of BNI Sustainable Bonds in 2017 which realized funds of IDR3 trillion over a tenor of 5
(five) years. In 2021 BNI again issued a Global Tier 2 Capital Bonds and Additional Tier 1 Capital Bonds with funds raised
of USD500,000,000 (full amount) and USD600,000,000 (full amount), respectively.
In 2022, BNI also issued Green Bonds denominated in Rupiah with total funds collected of IDR5 trillion each with a tenor
of 3 years and 5 years.
GLOBAL BOND 2012 Acting as Underwriters were PT BNI Sekuritas, PT Mandiri
BNI issued USD-denominated senior bonds (global bond) Sekuritas, PT Bahana Sekuritas, PT Danareksa Sekuritas,
on April 27, 2012 with a principal amount of USD500,000,000 PT Indo Premier Sekuritas and PT BCA Sekuritas. Acting
(full amount). The bonds were issued at a price of 98.89% as Trustee was PT Bank Rakyat Indonesia (Persero) Tbk.
with a coupon of 4.125% paid every 6 months. The bonds
had a term of 5 years with a due date of April 27, 2017. TIER 2 CAPITAL BOND 2021 (GLOBAL BOND)
The Bank has settled the entire principal amount of BNI issued debt instruments with capital characteristics
USD500.000.000 (full amount) at price 100,00%. in the form of Tier II Capital Bonds, which were listed on
the Singapore Exchange (SGX Listing) with a principal
REGISTRATION OF SUSTAINABLE BONDS 2017 amount of USD500,000,000.00 with a write down feature
On June 22, 2017, BNI obtained an effective statement that can be counted as a Tier II capital component through
from FSA through letter number S-349/D.04/2017 to issue OJK letter No. S-64/PB.31/2021 dated March 31, 2021. The
Sustainable Bonds I BNI Phase I 2017 (“Bonds”).The value Tier II Capital Bond issuance is one of BNI’s strategies for
of bonds issued amounted to IDR3,000,000,000,000 (full increasing the Bank’s capital through Tier 2 Capital.
amount), for a period of 5 years, with a coupon of 8% per
annum that will be paid quarterly. The BNI Bonds were The Tier II Capital Bonds were offered at a fixed interest
issued on July 11, 2017 and listed on the Indonesia Stock rate of 3.75% p.a. for a term of 5 (five) years. Acting as
Exchange on July 12, 2017.The first coupon payment to the institutions and supporting professions for the issuance of
bondholders was made on October 11, 2017. theTier II Capital Bonds were HSBC and Citi Group.The legal
consultants were Ginting & Reksodiputro in association with
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Practices Governance Responsibility Commitment Statements
Allen & Overy and HSBC acted asTrustee and Paying Agent. ENVIRONMENTAL BONDS (GREEN BONDS) BNI 2022
The bonds received a rating on long-term debt securities On June 10 2022, BNI received an effective statement from
from Fitch Rating of BB, and from Moody’s Rating of Ba2. FSA through letter no. S-93/D.04/2022 to issue Green Bond
I PT Bank Negara Indonesia (Persero)TbkYear 2022 on June
ADDITIONAL TIER 1 CAPITAL BOND 2021 (GLOBAL 21, 2022. The Principal Amount of Green Bonds issued is
BOND) IDR5,000,000,000,000 (five trillion Rupiah) with Green Bond
BNI issued debt instruments with capital characteristics interest of 6.35% (six point three five percent) per year for
in the form of Additional Tier I Capital Bonds, which were series A and 6.85% (six point eight five percent) per year
listed on the Singapore Exchange (SGX Listing) with a for series B. Green Bond I 2022 was offered at 100% (one
principal amount of USD600,000,000 (full amount) with a hundred percent) of the principal amount of the bonds,
write down feature that can be counted as a Tier I capital with coupons paid quarterly, and listed on the Indonesia
component through OJK letter No. S-210/ PB.31/2021 dated Stock Exchange (IDX) on June 22, 2022. The first coupon
September 30, 2021. payment to bondholders was made on September 21, 2022.
The issuance of the Additional Tier I Capital Bond aimed The proceeds from the bond issuance, after deducting
to increase Tier I Capital, general funding, and improve emission costs, will all be used by BNI to finance and
the structure of long-term funds. Additional Tier I Capital refinance projects in the Environmentally Friendly
Bonds were offered with a fixed interest rate of 4.30% p.a. Business Activities (KUBL) category, namely projects
perpetual term (no maturity) with call options after 5.5 (five related to renewable energy, energy efficiency, processing
and a half) years. Acting as institutions and supporting waste into energy and waste management, sustainable
professions for the issuance of the Additional Tier I Capital use of natural resources and land use, conservation of
Bonds were BNI Sekuritas, JP Morgan and UBS. The legal terrestrial and aquatic biodiversity, environmentally friendly
consultants used were Hadiputranto, Hadinoto & Partners transportation, sustainable management of water and
in association with Baker McKenzie and HSBC acted as wastewater, climate change adaptation, environmentally
Trustee and Paying Agent. The bonds received a rating sound buildings, and sustainable agriculture, taking into
on long-term debt securities from Moody’s Rating of Ba3. account OJK Regulation No. 60/POJK.04/2017 concerning
Issuance and Requirements for Green Bonds.
Acting as Underwriters for the Issue were PT BNI Sekuritas,
PT BCA Sekuritas, PT Mandiri Sekuritas, PT BRI Danareksa
Sekuritas, PT CIMB Niaga Sekuritas, and PT Maybank
Sekuritas. Acting asTrustee was PT Bank Mandiri (Persero)
Tbk.
NAME OF THE EXCHANGE WHERE THE COMPANY’S BONDS ARE LISTED
All BNI Rupiah-denominated Securities have been listed on the Indonesia Stock Exchange (IDX), while Forex-denominated
Securities are listed on the Singapore Exchange.
BNI Bond Listing Chronology
Name of Issue Effective Offer Maturity Interest Payment Securities Rating
Tenor Currency Number of Bonds Trustee
Security Date Date Value date Rate Status 2021 2020
April 17, April 27, 4.125%
Global Bond - 5Years USD 500,000,000 98.89 Paid - - HSBC
2012 2017 p.a
Obligasi
Berkelanjutan July 11, June 22, July 11, 8.00% idAAA idAAA PT BRI
5Years IDR 3,000,000,000,000 100.00 Paid
I BNITahap I 2012 2017 2022 p.a (Pefindo) (Pefindo) (Persero)
Tahun 2017
BNITier 2 BB (Fitch)
March 30, March 30, March 30, HSBC Corp
Capital Bond 5Years USD 500,000,000 100.00 3.75% Not Yet Paid Ba2 -
2021 2021 2026 Ltd.
2021 (Moodys)
Perpetual,
BNI Additional
September September Non March 24, Ba3 HSBC Corp
Tier 1 Capital USD 600,000,000 100.00 4.30% Not Yet Paid -
24, 2021 24, 2021 Callable 2027 (Moodys) Ltd.
Bond 2021
5,5Years
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BNI Bond Listing Chronology
Name of Issue Effective Offer Maturity Interest Payment Securities Rating
Tenor Currency Number of Bonds Trustee
Security Date Date Value date Rate Status 2021 2020
Obligasi
PT Bank
Berwawasan
June 21, June 10, June 21, idAAA Mandiri
Lingkungan 3Years IDR 4,000,000,000,000 100.00 6.35% Not Yet Paid -
2022 2022 2025 (Pefindo) (Persero)
(Green Bond) I
Tbk
BNI 2022
Environ
PT Bank
mentally
June 21, June 10, June 21, idAAA Mandiri
Friendly Bonds 5Years IDR 1,000,000,000,000 100.00 6.85% Not Yet Paid -
2022 2022 2027 (Pefindo) (Persero)
(Green Bond)
Tbk
BNI I 2022
BOND INTEREST PAYMENT CHRONOLOGY
This Global Bond has an annual interest rate of 4.125% of the principal amount of the loan. Interest is paid by the Bank
every 6 (six) months with the initial date of payment of the bond interest on October 29, 2012 and the last payment of
the bond interest has been paid on maturity on April 27, 2017.
Global Bond Interest Payments Chronology
Interest No. Date of Interest Payment Interest (%) Payment Status
1 October 29, 2012 4.125% Paid
2 April 29, 2013 4.125% Paid
3 October 28, 2013 4.125% Paid
4 April 28, 2014 4.125% Paid
5 October 27, 2014 4.125% Paid
6 April 27, 2015 4.125% Paid
7 October 27, 2015 4.125% Paid
8 April 27, 2016 4.125% Paid
9 October 27, 2016 4.125% Paid
10 April 27, 2017 4.125% Paid
The Sustainable Bond I BNI Rupiah Phase I 2017 has an interest rate of 8% per annum which is paid periodically every
3 months with the following schedule:
Chronology of Sustainable Bond Interest Payments
Interest No. Date of Bond Interest Payment Interest (%) Payment Status
1 October 11, 2017 8% Paid
2 January 11, 2018 8% Paid
3 April 11, 2018 8% Paid
4 July 11, 2018 8% Paid
5 October 11, 2018 8% Paid
6 January 11, 2019 8% Paid
7 April 11, 2019 8% Paid
8 July 11, 2019 8% Paid
9 October 11, 2019 8% Paid
10 January 11, 2020 8% Paid
11 April 11, 2020 8% Paid
12 July 11, 2020 8% Paid
13 October 11, 2020 8% Paid
14 January 11, 2021 8% Paid
15 April 11, 2021 8% Paid
16 July 11, 2021 8% Paid
17 October 11, 2021 8% Paid
18 Januari 11, 2022 8% Paid
19 April 11, 2022 8% Paid
20 July 11, 2022 8% Paid
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BNI Tier 2 Capital Bond 2021 has an interest rate of 3.75% per annum, which is paid every 6 months with the first interest
payment made on September 30, 2021 and ending on March 30, 2026 with the following schedule:
Tier 2 Capital Bond Interest Payments Chronology
Interest No. Date of Bond Interest Payment Interest (%) Payment Status
1 September 30, 2021 3.75% Paid
2 March 30, 2022 3.75% Paid
3 September 30, 2023 3.75% Paid
4 March 30, 2023 3.75% Paid
5 September 30, 2023 3.75% Paid
6 March 30, 2024 3.75% Not Yet Paid
7 September 30, 2024 3.75% Not Yet Paid
8 March 30, 2025 3.75% Not Yet Paid
9 September 30, 2025 3.75% Not Yet Paid
10 March 30, 2026 3.75% Not Yet Paid
BNI Additional Tier 1 Capital Bond 2021 has an interest rate of 4.3% per annum with the first interest payment to be made
on on March 24, 2022 and ending on March 24, 2027, and is paid every 6 months with the following schedule::
Tier 1 Capital Bond Interest Payments Chronology
Interest No. Date of Bond Interest Payment Interest (%) Payment Status
1 March 24, 2022 4.3% Paid
2 September 24, 2022 4.3% Paid
3 March 24, 2023 4.3% Paid
4 September 24, 2023 4.3% Paid
5 March 24, 2024 4.3% Not Yet Paid
6 September 24, 2024 4.3% Not Yet Paid
7 March 24, 2025 4.3% Not Yet Paid
8 September 24, 2025 4.3% Not Yet Paid
9 March 24, 2026 4.3% Not Yet Paid
10 September 24, 2026 4.3% Not Yet Paid
11 March 24, 2027 4.3% Not Yet Paid
BNI Green Bond I Year 2022 has an interest rate of 6.35% per annum for a 3-year tenor and an interest rate of 6.85% for a
5-year tenor with the first interest payment being made on September 21, 2022 and ending on June 21, 2025 for a 3-year
tenor and June 21, 2027 for a 5-year tenor, which will be paid periodically every 3 months with the following schedule:
Chronology of Interest Payment for 3-Year Tenor Green Bonds
Interest No. Date of Interest Payment Interest (%) Payment Status
1 September 21, 2022 6.35% Paid
2 December 21, 2022 6.35% Paid
3 March 21, 2023 6.35% Paid
4 June 21, 2023 6.35% Paid
5 September 21, 2023 6.35% Paid
6 December 21, 2023 6.35% Paid
7 March 21, 2024 6.35% Not Yet Paid
8 June 21, 2024 6.35% Not Yet Paid
9 September 21, 2024 6.35% Not Yet Paid
10 December 21, 2024 6.35% Not Yet Paid
11 March 21, 2025 6.35% Not Yet Paid
12 June 21, 2025 6.35% Not Yet Paid
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Chronology of Interest Payment for 5 Year Tenor Green Bonds
Interest No. Date of Interest Payment Interest (%) Payment Status
1 September 21, 2022 6.85% Paid
2 December 21, 2022 6.85% Paid
3 March 21, 2023 6.85% Paid
4 June 21, 2023 6.85% Paid
5 September 21, 2023 6.85% Paid
6 December 21, 2023 6.85% Paid
7 March 21, 2024 6.85% Not Yet Paid
8 June 21, 2024 6.85% Not Yet Paid
9 September 21, 2024 6.85% Not Yet Paid
10 December 21, 2024 6.85% Not Yet Paid
11 March 21, 2025 6.85% Not Yet Paid
12 June 21, 2025 6.85% Not Yet Paid
13 September 21, 2025 6.85% Not Yet Paid
14 Desember 21, 2025 6.85% Not Yet Paid
15 March 21, 2026 6.85% Not Yet Paid
16 June 21, 2026 6.85% Not Yet Paid
17 September 21, 2026 6.85% Not Yet Paid
18 December 21, 2026 6.85% Not Yet Paid
19 March 21, 2027 6.85% Not Yet Paid
20 June, 21 2027 6.85% Not Yet Paid
RUPIAH SUBORDINATED MEDIUM TERM NOTES 2018
In 2018, BNI issued debt instruments with capital characteristics in the form of Medium Term Notes (MTN) through a
limited offering under the name “BNI Subordinated MTN I Year 2018” with a write down feature that can be calculated
as a capital component, and were recorded in the administrative supervision of the Financial Services Authority, with
an effective date of June 8, 2018 and a total principal amount of IDR100 billion.
The Subordinated MTN were issued to comply with OJK Regulation No. 14/POJK.03/2017 Article 24 and Article 37
concerning the Recovery Plan, whereby systemic banks were required to have debt securities with capital characteristics
no later than December 31, 2018.
The 2018 BNI Subordinated MTN I was offered with a fixed interest rate of 8.00% p.a. for a term of 5 (five) years. Acting
as supporting institutions and professions for the issuance of the Subordinated MTN were BNI Sekuritas, Danareksa
Sekuritas, and Mandiri Sekuritas. The legal consultant used was Hanafiah Ponggawa & Partners. The notary used was Ir.
Nanette Cahyanie, SH. and PT Kustodian Sentral Efek Indonesia (KSEI) acted as Paying Agent.
In accordance with POJK No. 07/2017 and Regulation No.IX.C.11, for the issuance of these Bonds, BNI obtained a rating
for its long-term debt securities from PT Pemeringkat Efek Indonesia (“Pefindo”) for the period March 06, 2023 to August
10, 2023 in their letter No. RC-143/PEF-DIR/III/2023 dated March 6, 2023 with a rating of idAA (Double A) for BNI’s 2018
Subordinated Medium Term Notes I. BNI rates its bonds annually so long as the obligations for the securities have not
been paid off.
Kronologi Penerbitan Medium Term Notes (MTN) BNI
Date of Effective Interest Payment Peringkat Wali
Description Tenor Currency Bond Amount Bid price Due date
issue date Rate Status 2020 2019 Amanat
PT Bank
Subordinated August August August idAA idAA Rakyat
5 year IDR 100,000,000,000 100,00% 8.00% Not Yet Paid
MTN I 2018 10, 2018 10, 2018 10, 2023 (Pefindo) (Pefindo) Indonesia
(Persero)
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MTN Interest Payments Chronology
Interest No. Date of Interest Payment Interest (%) Payment Status
1 November 10, 2018 8% Paid
2 February 10, 2019 8% Paid
3 May 10, 2019 8% Paid
4 August 10, 2019 8% Paid
5 November 10, 2019 8% Paid
6 February 10, 2020 8% Paid
7 May 10, 2020 8% Paid
8 August, 10 2020 8% Paid
9 November 10, 2020 8% Paid
10 February 10, 2021 8% Paid
11 May 10, 2021 8% Paid
12 August 10, 2021 8% Paid
13 November 10, 2021 8% Paid
14 February 10, 2022 8% Paid
15 May 10, 2022 8% Paid
16 August 10, 2022 8% Paid
17 November 10, 2022 8% Paid
18 February 10, 2023 8% Paid
19 May 10, 2023 8% Paid
20 August 10, 2023 8% Paid
In 2016, BNI conducted an NCD offering in two stages consisting of several series with
the realization of the issuance of IDR5.22 trillion. In 2017, BNI again issued an NCD with
the realization of the issuance of IDR2.7 trillion. In 2019 BNI issued NCD in three stages
with the realization of the issuance of IDR4.34 trillion consisting of several series.
The Arrangers of the BNI Rupiah NCD issuance were BNI On December 8, 2022, BNI again issued scripless Negotiable
Sekuritas, Danareksa Sekuritas, Mandiri Sekuritas, and BCA Certificates of Deposit (NCD), denominated in Rupiah and
Sekuritas.The notary was Fathiah Helmi, SE., PT Indonesian USD. The NCDs issued were as follows:
Central Securities Depository (KSEI) acted as a Paying 1. NCD Rupiah BNIYear 2022 with an issue value of IDR2.5
Agent. The issuance of the NCD was a Bank strategy to trillion in 3 (three) series, namely:
increase Rupiah liquidity. a. BNI Rupiah NCD Year 2022 Series A with an issue
value of IDR1 trillion;
In 2020, BNI issued scripless Rupiah Negotiable Certificate b. BNI Rupiah NCD Year 2022 Series B with an issue
of Deposit (NCD) in four series as follows: value of IDR500 billion; c. BNI Rupiah NCD Year 2022
Series C with an issue value of IDR1 trillion.
1. Rupiah NCD BNI I Year 2020 Series A with an emission 2. NCD US Dollar BNI Year 2022 with an emission value
of IDR400 billion; of USD31.5 million.
2. Rupiah NCD BNI I Year 2020 Series B with an emission
of IDR580 billion; The arrangers for the BNI NCD issuance were BNI Sekuritas,
3. Rupiah NCD BNI I Year 2020 Series C with an emission BCA Sekuritas, and Trimegah Sekuritas Indonesia, with PT
of IDR50 billion; Kustodian Sentral Efek Indonesia (KSEI) acting as Paying
4. Rupiah NCD BNI I Year 2020 Series D with an emission Agent. The NCD issuance is the Bank’s strategy for credit
of IDR360 billion. expansion in the framework of development.
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In addition, BNI also issued a scripless USD Global Certificate of Deposit (CD) through the New York Overseas Office
(KLN) in January 2020. BNI through the New York KCLN became the first Indonesian Bank to issue CDs denominated in
USD as a short-term investment product on the global market. The selected Arrangers for this CD issuance were Bank
DBS, Citibank as Issuing & Paying Agent (IPA), and there were also 11 (eleven) Dealers in this issuance, namely: Citibank,
Credit Suisse, BNP Paribas, DBS, HSBC, Mizuho, MUFG, SMBC Nikko, ANZ, UOB, and Credit Agricole. BNI also reissued
USD scripless Global Certificate of Deposit (CD) through the New York Overseas Office (KLN) in September 2022.
NAME OF THE EXCHANGES WHERE THE COMPANY’S NCD ARE LISTED
All BNI NCDs have been listed on the Indonesia Stock Exchange (IDX).
Chronology of Negotiable Certificate of Deposit (NCD) Issuance
Effective Value Payment
Description Issue Date Tenor Currency Maturity Date Discount
Date (Million) Status
NCD BNI Year 2016
NCD Phase I Series
- 6 Month 390,000 December 16, 2016 7.00% Paid
A
NCD Phase I Series
- 9 Month 20,000 March 16, 2017 7.20% Paid
B
NCD I Series C - 370 Days 42,000 June 23, 2017 7.55% Paid
June 16, 2016
NCD I Series D - 18 Month 415,000 December 15, 2017 7.75% Paid
NCD I Series E - 24 Month 1,231,000 June 15, 2018 8.25% Paid
IDR
NCD I Series F - 36 Month 925,000 June 14, 2019 8.40% Paid
NCD II Series A - 370 Days 225,000 October 2, 2017 7.20% Paid
NCD II Series B - 18 Month 390,000 March 26, 2018 7.60% Paid
September 27,
2016
NCD II Series C - 24 Month 770,000 September 26, 2018 7.90% Paid
NCD II Series D - 36 Month 815,000 September 26, 2019 8.10% Paid
NCD BNI Year 2017
NCD BNI Year 2017
- 370 Days 2,195,000 March 15, 2018 7.55% Paid
Series A
NCD BNI Year 2017
- 18 Month 350,000 September 3, 2018 7.90% Paid
Series B March 10,
IDR
NCD BNI Year 2017 2017
- 24 Month 150,000 February 28, 2019 8.05% Paid
Series C
NCD BNI Year 2017
- 36 Month 5,000 February 24, 2020 8.35% Paid
Series D
NCD BNI Year 2019
NCD BNI I Year 2019
- 3 Month 60,000 July 2, 2019 7.30% Paid
Series A
NCD BNI I Year 2019
- 6 Month 140,000 September 24, 2019 7.58% Paid
Series B
28 Maret 2019 IDR
NCD BNI I Year 2019
- 9 Month 150,000 December 20, 2019 7.68% Paid
Series C
NCD BNI I Year 2019
- 370 Days 600,000 April 01, 2020 7.77% Paid
Series D
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Chronology of Negotiable Certificate of Deposit (NCD) Issuance
Effective Value Payment
Description Issue Date Tenor Currency Maturity Date Discount
Date (Million) Status
NCD BNI II Year 2019
- 3 Month 110,000 September 27, 2019 7.17% Paid
Series A
NCD BNI II Year 2019
- 6 Month 150,000 December 20, 2019 7.50% Paid
Series B
28 Juni 2019
NCD BNI II Year 2019
- 9 Month 100,000 March 20, 2020 7.59% Paid
Series C
NCD BNI II Year 2019
- 370 Days 640,000 July 2, 2020 7.62% Paid
Series D
NCD BNI III Year
- 3 Month IDR 430,000 January 03, 2020 6.306% Paid
2019 Series A
NCD BNI III Year
- 6 Month 250,000 April 1, 2020 6.50% Paid
2019 Series B
NCD BNI III Year 25 September
- 9 Month 50,000 July 1, 2020 6.599% Paid
2019 Series C 2019
NCD BNI III Year
- 372 Days 1,600,000 October 1, 2020 6.698% Paid
2019 Series D
NCD BNI III Year
- 372 Days 60,000 October 1, 2020 6.798% Paid
2019 Series E
NCD BNI Year 2020
NCD BNI I Year 2020
- 3 Month 400,000 August 10, 2020 5.40% Paid
Series A
NCD BNI I Year 2020
- 6 Month 580,000 November 09, 2020 5.60% Paid
Series B
12 Mei 2020 IDR
NCD BNI I Year 2020
- 9 Month 50,000 February 08, 2021 5.70% Paid
Series C
NCD BNI I Year 2020
- 360 Days 360,000 May 07, 2021 5.80% Paid
Series D
NCD BNI Year 2022
NCD Rupiah BNI 8 Desember
- 180 Days IDR 1,000,000 June 6, 2023 5.90% Paid
Year 2022 Series A 2022
NCD Rupiah BNI 8 Desember
- 271 Days IDR 500,000 September 5, 2023 6.00% Paid
Year 2022 Series B 2022
NCD Rupiah BNI 8 Desember
- 365 Days IDR 1,000,000 December 8, 2023 6.20% Paid
Year 2022 Series C 2022
NCD Valas BNI Year 8 Desember
- 180 Days USD 31,5 June 6, 2023 4.25% Paid
2022 2022
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Other BNI Securities Issuance Chronology (Global Certificate of Deposit)
Name Issue Date Effective Date Tenor Currency Value (million)
Global CD BNI
Zero Coupon (No Interest)
CD BNI January 2020
January 13, 2020 January 17, 2020 188 days USD 4,000,000
USD CD - Mizuho
CD BNI January 2020
January 13, 2020 January 17, 2020 273 days USD 4,000,000
USD CD – Mizuho
CD BNI January 2020
January 22, 2020 January 30, 2020 182 days USD 2,000,000
USD CD – Mizuho
CD BNI January 2020
January 22, 2020 January 30, 2020 274 days USD 2,000,000
USD CD - Mizuho
CD BNI February 2020 USD CD –
January 28, 2020 February 4, 2020 184 days USD 6,000,000
BNP Paribas
CD BNI February 2020 USD CD –
January 28, 2020 February 4, 2020 353 days USD 2,000,000
BNP Paribas
CD BNI February 2020 USD CD –
February 4, 2020 February 11, 2020 184 days USD 9,800,000
BNP Paribas
CD BNI February 2020 USD CD –
February 4, 2020 February 11, 2020 353 days USD 4,700,000
BNP Paribas
CD BNI February 2020 USD CD –
February 5, 2020 February 12, 2020 90 days USD 9,100,000
BNP Paribas
CD BNI February 2020 USD CD
February 5, 2020 February 12, 2020 182 days USD 35,000,000
-MUFG
CD BNI February 2020 USD CD –
February 12, 2020 February 19, 2020 182 days USD 4,100,000
BNP Paribas
CD BNI February 2020 USD
CD – BNP February 12, 2020 February 19, 2020 35 days USD 1,500,000
Paribas
CD BNI February 2020 USD CD
February 13, 2020 February 21, 2020 355 days USD 15,000,000
– MUFG
CD BNI February 2020
February 13, 2020 February 21, 2020 355 days USD 5,000,000
USD CD – Mizuho
CD BNI March 2020 USD CD –
March 3, 2020 March 10, 2020 184 days USD 4,800,000
BNP Paribas
CD BNI March 2020 USD CD –
March 10, 2020 March 17, 2020 184 days USD 4,000,000
MUFG
CD BNI March 2020
March 17, 2020 March 20, 2020 188 days USD 4,400,000
USD CD – Mizuho
CD BNI July 2020 USD CD –
July 9, 2020 July 15, 2020 184 days USD 15,000,000
MUFG
CD BNI July 2020 USD CD –
July 9, 2020 July 14, 2020 184 days USD 23,200,000
MUFG
CD BNI July 2020 USD CD –
July 9, 2020 July 15, 2020 184 days USD 135,000,000
MUFG
CD BNI August 2020 USD CD –
August 25, 2020 August 28, 2020 92 days USD 12,700,000
MUFG
CD BNI November 2020 USD
November 9, 2020 November 17, 2020 181 days USD 25,000,000
CD – MUFG
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Other BNI Securities Issuance Chronology (Global Certificate of Deposit)
Rating
Maturity Date Discount Rate Payment Status Trustee
2023 2022
July 23, 2020 2.35% Paid - - -
October 16, 2020 2.40% Paid - - -
July 30, 2020 2.35% Paid - - -
October 30, 2020 2.40% Paid - - -
August 6, 2020 2.35% Paid - - -
January 22, 2021 2.50% Paid - - -
August 13, 2020 2.40% Paid - - -
January 29, 2021 2.55% Paid - - -
May 12, 2020 2.40% Paid - - -
August 12, 2020 2.58% Paid - - -
August 19, 2020 2.40% Paid - - -
February 8, 2021 2.50% Paid - - -
February 10, 2021 2.55% Paid - - -
February 10, 2021 2.55% Paid - - -
January 14, 2020 1.75% Paid - - -
September 17, 2020 1.40% Paid - - -
September 24, 2020 1.45% Paid - - -
January 15, 2021 1.15% Paid - - -
January 14, 2021 1.15% Paid - - -
January 15, 2021 1.20% Paid - - -
November 28, 2020 0.90% Paid - - -
Paid
May 17, 2021 0.95% - - -
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Other BNI Securities Issuance Chronology (Global Certificate of Deposit)
Name Issue Date Effective Date Tenor Currency Value (million)
CD BNI November 2020 USD November 20,
November 17, 2020 188 days USD 18,000,000
CD – MUFG 2020
CD BNI November 2020 USD November 20,
November 17, 2020 188 days USD 25,000,000
CD – MUFG 2020
CD BNI January 2021 USD CD
January 21, 2021 January 28, 2022 355 days USD 50,000,000
– MUFG
CD BNI December 2022 USD
December 16, 2022 December 22, 2022 186 days USD 18,600,000
CD – MUFG
CD BNI January 2023 USD CD
January 18, 2023 January 26, 2023 175 days USD 20,000,000
- DBS
CD BNI January 2023 USD CD -
January 27, 2023 February 03, 2023 89 days USD 54,000,000
Credit Agricole
CD BNI March 2023 USD CD -
March 08, 2023 March 15, 2023 184 days USD 50,000,000
MUFG
CD BNI March 2023 USD CD
March 09, 2023 March 16, 2023 182 days USD 23,500,000
- DBS
CD BNI October 2023 USD CD -
October 11, 2023 October 18, 2023 355 days USD 35,000,000
Credit Agricole
CD BNI October 2023 USD CD
October 12, 2023 October 18, 2023 355 days USD 40,000,000
- DBS
Fixed Coupon (With Interest)
CD BNI January 2020 USD CD
January 21, 2020 January 28, 2020 91 days USD 28,000,000
– MUFG
CD BNI Februari 2020 USD CD
February 3, 2020 February 10, 2020 274 days USD 74,200,000
- MUFG
CD BNI Maret 2020 USD CD -
March 3, 2020 March 10, 2020 92 days USD 72,600,000
MUFG
CD BNI Juni 2020 USD CD -
June 9, 2020 June 17, 2020 91 days USD 122,600,000
HSBC
CD BNI September 2020 USD September 10,
September 1, 2020 91 days USD 138,000,000
CD – Credit Agricole 2020
CD BNI November 2020 USD November 13,
November 6, 2020 91 days USD 32,200,000
CD – Credit Agricole 2020
CD BNI September 2020 USD
December 3, 2020 December 10, 2020 90 days USD 50,000,000
CD – Mizuho
CD BNI September 2022 USD September 22, September 28,
91 days USD 60,000,000
CD – MUFG 2022 2022
CD BNI October 2022 USD CD September 30,
October 4, 2022 86 days USD 94,000,000
– MUFG 2022
CD BNI December 2022 USD
December 14, 2022 December 21, 2022 182 days USD 50,000,000
CD – DBS
CD BNI January 2023 USD CD -
January 27, 2023 February 03, 2023 89 days USD 10,000,000
Credit Agricole
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Other BNI Securities Issuance Chronology (Global Certificate of Deposit)
Rating
Maturity Date Discount Rate Payment Status Trustee
2023 2022
May 27, 2021 0.95% Paid - - -
May 27, 2021 0.95% Paid - - -
January 18, 2022 1.10% Paid - - -
June 26, 2023 5.45% Paid - - -
July 20, 2023 5.58% Paid - - -
May 03, 2023 5.40% Paid - - -
September 15, 2023 5.95% Paid - - -
September 14, 2023 5.95% Paid - - -
October 07, 2024 6.05% Not Yet Paid - - -
07 Oktober 2024 6.07% Not Yet Paid - - -
April 28, 2020 2.30% Paid - - -
November 10, 2020 2.33% Paid - - -
June 10, 2020 1.68% Paid - - -
September 16, 2020 0,685% Paid - - -
December 10, 2020 0.75% Paid - - -
Paid
February 12, 2021 0.69% - - -
March 10, 2021 0.695% Paid - - -
December 28, 2022 4.00% Paid - - -
December 29, 2022 4.00% Paid - - -
June 21, 2023 5.45% Paid - - -
May 03, 2023 5.21% Paid - - -
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 185
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Information on Public Accountants,
Public Accounting Firms, and
Networks/Associations/Alliances
Public Accounting Firm Tanudiredja, Wibisana, Rintis & Partners (member firm of the
KAP Name
PricewaterhouseCoopers network)
AP Name Drs. M. Jusuf Wibisana, M.Ec,. CPA
WTC 3, Jl. Jend. Sudirman Kav. 29 – 31, Jakarta 12920 - INDONESIA
Telp : (62-21) 50992901 / 31192901
KAP Address
Faks : (62-21) 52905555 / 52905050
Website : www.pwc.com/id
KAP Assignment Period 3 (Three) Years
AP Assignment Period 3 (Three) Years
Audit Services Consolidated Financial Report, PUMK Report, DPLK Report
Agreed Upon Procedures (AUP) of Custodian Services, PSA 62, BOD KPI, Aggregation Performance
Non-Audit Services
Report for BUMN and Other Non Assurance Services.
Audit Fee IDR28,200,187,788,-
Non-Audit Fee IDR6,226,798,340,-
Capital Market Supporting
Institutions and/or Professionals
LIST OF CAPITAL MARKET SUPPORTING INSTITUTIONS AND PROFESSIONALS
PT Bursa Efek Indonesia
Address : Gedung Bursa Efek Indonesia, Tower 1 Jl. Jend. Sudirman Kav. 52-53
Jakarta 12190, Indonesia
Tel : (62-21) 5150515
Fax : (62-21) 5154153
Website : www.idx.co.id
Stock Trading and Email : listing@idx.co.id
Listing
Singapore Ecxhange Regulation Pte. Ltd.
Address : 11 North BuonaVista Drive, #06-07 The Metropolis Tower 2,
Singapore
Tel : +65 6236 8888
Website : sgx.com
Email : asksgx@sgx.com
Ginting & Reksodiputro
Address : The Energy Building, 15th Floor SCBD Lot 11A, JI. Jend.
Sudirman Kav. 52-53 Jakarta 12190
Tel : 021 – 2995 1700
Fax : 021 – 2995 1799
Email : indonesia@allenovery.com; daniel.ginting@allenovery.com
Legal Consultant Website : www.allenovery.com
Hadiputranto, Hadinoto & Partners
Address : Pacific Century Place, Lv 35 SCBD Lot 10, Jl Jend. Sudirman Kav 52-53
12190 Jakarta, Indonesia
Tel : 021 – 2960 8888
Fax : 021 – 2960 8999
Website : www.hhp.co.id
Hanafiah Ponggawa & Partners
Address : Wisma 46 – Kota BNI, 32nd and 41st Floor Main Reception, Jl. Jend.
Sudirman Kav.1, Jakarta, 10220, Indonesia
Tel : +62 21 5701837
Fax : +62 21 5701835
Website : https://dentons.hprplawyers.com
PT Datindo Entrycom
Securities Address : Jl. Hayam Wuruk No. 28, Jakarta 10120
Administration Tel : (62-21) 3508077
Bureau Website : www.datindo.com
Email : corporatesecretary@datindo.com
186 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Standard & Poor‘s
Address : 30 Cecil Street Prudential Tower 17th Floor Singapore 049712
Tel : (65) 6438 2881
Website : www.standardandpoors.com
Moody‘s Investors Service Singapore Pte. Ltd
Address : 50 Raffles Place #23-06 Singapore Land Tower, Singapore, 048623
Tel : (+65) 6398 8300
Website : www.moodys.com
PT Fitch Ratings Indonesia
Securities Rating Address : DBS Bank Tower, Lt. 24 Suite 2403
Agency Jl. Prof. Dr. Satrio Kav 3-5 Jakarta 12940
Tel : (62-21) 2988 6800
Fax : (62-21) 2988 6822
Website : www.fitchratings.com
PT Pemeringkat Efek Indonesia (Pefindo)
Address : Equity Tower Lantai 30 SCBD Lot 9
Jl.Jenderal Sudirman Kav.52-53
Jakarta 12190
Tel : (62-21) 509 684 69
Fax : (62-21) 509 684 68
Website : www.pefindo.com
PT Kustodian Sentral Efek Indonesia
Address : Gedung Bursa Efek Indonesia, Tower 1, Lantai 5 Jl. Jend. Sudirman
Kav. 52-53 Jakarta 12190, Indonesia
Custodian Tel : (62-21) 515 2855
Fax : (62-21) 5299 1199
Website : www.ksei.co.id
Email : helpdesk@ksei.co.id
PT Bank Mandiri (Persero) Tbk.
Address : Plaza Mandiri
Jl. Jend. Gatot Subroto Kav.36-38, Jakarta 12190
Tel : (62-21) 526 5045 ; 526 5095
Fax : (62-21) 527 4477 ; 527 5577
Trustee Fax : (62-21) 5752444
The Hongkong and Shanghai Banking Corporation Limited
Address : Issuer Services, L24 HSBC Main Building, No.1
Queen’s Road Central, Hong Kong
Web : www.hsbc.com.hk
Ashoya Ratam, S.H., M.Kn
Notaris & PPAT Kota Administrasi Jakarta Selatan
Address : Jl. Suryo No. 54, Kebayoran Baru Jakarta 12180
Tel : (021) 2923 6060
Fax : (021) 2923 6070
Email : notaris@ashoyaratam.com
Notary
Ir. Nanette Cahyanie Handari Adi Warsito, S.H.
Address : Jl. Panglima Polim V/11, Kebayoran Baru
Jakarta 12160
Tel : (021) 7244650, (021) 7392801, (021) 7209542, (021) 7209645
Fax : (021) 7265090
Email : cahyanie72@yahoo.co.id ; poerbaningsih@yahoo.com
PB Taxand
Address : Menara Imperium Lantai 27
Jl. H.R. Rasuna Said Kav.1 Jakarta 12980
Tax Consultant Tel : (021) 835 6363
Fax : (021) 8379 3939
Website : www.pbtaxand.com
Doli, Bambang, Sulistiyanto, Dadang & Ali
Registered Public Accountants
Address : Menara Kuningan Lantai 11
Bond Allotment KAP
Jl. H.R. Rasuna Said Blok X-7 Kav.5 Jakarta 12940
Tel : (021) 5790 3548
Fax : (021) 5790 3548
Sustainalytics US Inc.
Environmental Address : Four World Trade Center, Floor 48, 150 Greenwich Street
New York, 10007 United States
Expert Consultant Tel : (+65) 6329 7596 (APAC)
Website : www.sustainalytics.com
The Hongkong and Shanghai Banking Corporation Limited
Address : HSBC Main Building, 1 Queen’s Road Central, Hong Kong
Tel : (+852) 2748 8288
Website : www.hsbc.com.hk
Arranger Citigroup Global Markets Limited
Address : Citigroup Centre, Canada Square
Canary Wharf London E14 5LB United Kingdom
Tel : (020) 7986 4000
Website : www.citigroup.com
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 187
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Information Available
on The Website
BNI has an official website, www.bni.co.id,
which was created based on FSA Regulation
No. 8/POJK.04/2015 concerning Issuer or Public
Company Websites. The BNI website can be
accessed by the general public in Indonesian
and English. BNI’s official website is intended
to fulfill BNI’s commitment to implementing
Law No. 8 of 1995 concerning Capital Markets,
as well as for improving the implementation
of Good Corporate Governance, especially for
shareholders, customers, the general public,
government and other stakeholders.
Detailed information on the Bank’s website contains the following:
HOME PAGE INDIVIDUAL MSME CORPORATE WEALTH
News, promos and Contains information Contains information Information on Information on BNI’s
events as well as base about deposits, about MSME banking business, international products, services,
rates for loans. debit card loans, derivative products such and treasury banking. promos and privileges
pension deposits, as XPORA. The information in for BNI’s priority
bancassurance, and the Business menu customers, namely
product simulations. provides solutions for BNI Emerald
Information in the company / corporate
Personal menu customers.
is specifically for
individual customers.
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Practices Governance Responsibility Commitment Statements
PERUSAHAAN
1. Information on the BNI website is updated regularly • Annual sustainability report for the last 5 (five)
with actual and up-to-date information. fiscal years;
2. General information disclosed on the BNI website • Annual pension fund report for the last 5 (five)
includes: fiscal years;
a. Name, address and contact of the head office and/or • Annual community development partnership
representative office of the Issuer or Public Company; program report for the last 5 (five) years;
including telephone numbers, facsimile numbers, • Corporate presentations in the form of presentation
and electronic mail address; files, audio and video for the last 5 (five) years; and
b. Brief history of Issuers or Public Companies • Summary of important financial data, in the form
c. Issuer or Public Company organizational structure of comparisons for the last 5 (five) fiscal years;
d. Company Awards; including:
e. Structure of ownership of Issuers or public companies, » Revenue;
including: » Gross profit;
• A description of the names of shareholders and » Profit (loss);
their percentage ownership at the end of each » Total profit (loss) attributable to owners of the
month; parent entity and non-controlling interests;
• Information regarding the majority and controlling » Total comprehensive profit (loss);
shareholder of the Issuer or Public Company, either » Earnings (loss) per share;
directly or indirectly, to the individual owners, in » Total assets;
the form of schematics or diagrams; and » Total liabilities;
• Names of subsidiaries, associated companies, » Total equity;
joint venture companies where the Issuer or Public » Profit (loss) to total assets ratio;
Company has joint control of the entity, together » Profit (loss) to equity ratio;
with the percentage of share ownership, line of » Profit (loss) to income ratio;
business and operating status of the company. » Current ratio;
f. Profiles of the Board of Directors, Board of » Liability to equity ratio;
Commissioners, Committees, and Corporate » Liabilities to total assets ratio; and
Secretary including: » Other information and financial ratios relevant
• Photos; to the company and its type of industry.
• Names; d. GMS information, including:
• Position history, including concurrent positions; • Announcements and Summons;
• Educational background; • Agenda material discussed in the GMS;
• Affiliation of members of the Board of Directors • Summary of GMS Minutes.
• and Board of Commissioners with members of the e. Stock information, including:
Board of Directors and/or other members of the • Number of shares outstanding;
Board of Commissioners as well as shareholders. • Bonus shares;
g. Names and addresses of: • Chronology of share listing;
• Public Accountant who audited the financial • Stock prices..
statements of Issuers or Public Companies in the f. Information on bonds and/or sukuk, including:
current year. • Value of outstanding bonds/funds/or sukuk;
• Securities Rating • Bonds and/or sukuk rating results;
• Trustees • Maturity dates; and
• Securities administration Bureau. • Bond interest rates and/or sukuk yields.
h. Articles of Association g. Dividend Information.
h. Information for financiers or investors, public media,
3. Financiers or Investors Information disclosed on the and/or analysts.
BNI website includes: i. Information related to corporate actions taken by
a. Public Offering Prospectus; Issuers or Public Companies and actions taken by
b. Annual report, for the last 5 (five) fiscal years; and other parties against Issuers or Public Companies,
c. Financial Information, including: including:
• Annual financial reports, for the last 5 (five) fiscal • Affiliated Transactions and Certain Conflict of
years; • Interest Transactions;
• Quarterly financial reports, for the last 5 (five) • Distribution of Bonus Shares;
fiscal years;
• Monthly financial reports, for the last 5 (five) fiscal
years;
• Semi-annual financial reports for the last 5 (five)
fiscal years
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 189
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
• Shares Buyback by Issuers or Public Companies in a potential crisis market condition; and
• Share ownership program for members of the Board of Directors, members of the Board of Commissioners
and employees or Issuers or Public Companies or other controlled parties; and
j. Material Information or Facts other than those disclosed in the Financial Services Authority Regulations.
4. Corporate Governance Information disclosed on the BNI website includes:
a. Work guidelines for the Board of Directors, Board of Commissioners, Integrated Governance, and Internal Audit;
b. Appointment, dismissal, and/or vacancy of the Corporate Secretary, including any temporary Corporate Secretary,
as well as supporting information;
c. Internal Audit Charter;
d. Code of Ethics;
e. Committee work guidelines;
f. Company’s Articles of Association;
g. Whistleblowing System (WBS) reporting;
h. Appointment and dismissal of members of the Audit Committee;
i. Risk management policy;
j. Violation reporting system mechanism policy;
k. Anti-corruption policy;
l. Policy regarding supplier selection and creditor rights;
m. Policy on improving vendor capabilities;
n. Integrated Governance and Governance reports..
5. Corporate Social Responsibility Information disclosed on the BNI website includes:
a. Information on BNI’s corporate social responsibility including policies, types of programs, and costs incurred by
Issuers or Public Companies in the sustainability report.
b. Information on the implementation of Environmental, Social, and Governance (ESG) on the BNI website includes:
BNI Achievement in the ESG Field, Types of Activities, and Video Profile of BNI ESG.
c. Policies, types of programs, and costs as referred to in letter “a”, related to the following aspects:
i) Environment;
ii) Labor, health and safety practices;
iii) Social and community development; and
iv) Product and/or service responsibilities, together with supporting information.
E-Banking Contact
Contains information regarding BNI ATM, BNI SMS
Banking, BNI Internet Banking, BNI Mobile Banking, BNI Contains information regarding Branch Office Locations,
Phone Banking, O-Branch, Agen46, TapCash, Debit Online, Global Networks and BNI Contacts.
UniqueQu, BNI IPay and BNI Smartpay.
190 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Awards and
Certification
AWARDS
International Awards
HR Asia (Best Companies Contact Center World Asia Pacific Awards Cloudera APAC Data Impact Ambassador Award
to Work For In Asia 2023) 2023 Award – Industry Transformation
- Corporate Category 12 Medals (WINNER)
June 27, 2023 - Individual Category 7 Medals November 6, 2023
HR Asia July 28, 2023 July 2023 Embassy of the Republic of
Contact Center World (CCW) Cloudera APAC Data Impact Award Indonesia in Tokyo
Indonesia Overall Domestic Market Indonesia Overall Domestic Indonesia Overall Domestic Best
Leader as voted by Non Financial Market Leader as voted by Non Service as voted by Non Financial
Institution in Government and Public Financial Institution in Real Estate Institution in Government and
Services Industry Sector and Construction Industry Sector Public Service Industry Sector
2023 2023 2023
Euromoney Euromoney Euromoney
Other International Awards
Awards Month - Year Organized By
Axway Excellence Awards for the
August 2023 Axway
Transformation Excellence
The Best FX Bank for Structured Products September 2023 Alpha Southeast Asia Award
The Best FX Bank for Structured Hedging
September 2023 Alpha Southeast Asia Award
Solutions
The Best Corporate Treasury Sales and
September 2023 Alpha Southeast Asia Award
Structuring Team
The Best International & Localized API
November 2023 Devportal Awards
DevPortal
The Best Banking API Solution in Indonesia December 2023 Alpha Southeast Asia
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 191
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
National Awards
Top Brand Awards 2023 Top Brand Awards 2023 Top Brand Awards 2023 Top Brand Awards 2023
Credit Card Category – BNI Credit Children’s Savings Account Deposit Product Category – BNI in Installment Savings Category – BNI
Card Category – BNI Taplus Anak Deposito Tapenas (Future Planning Savings)
March 20, 2023 May 9, 2023 May 9, 2023 May 9, 2023
Majalah Marketing Majalah Marketing Majalah Marketing Majalah Marketing
Top Brand Awards 2023 Top Brand Awards 2023 Best Director Award The Best Mortgage Product with
KPR Category – BNI Griya Call Center Category at the BNI Leadership Forum the Longest Tenor of Fixed Rate -
BNI Griya
May 9, 2023 May 9, 2023 February 13, 2023 March 20, 2023
Marketing Magazine Marketing Magazine & Frontier BNI Journalist Media Network
JCB Indonesia Award 2023 - JCB Indonesia Award 2023 - JCB Indonesia Award 2023 - The Best CEO With Distinction 2022
Best Japan Dining Campaign 2022 Best Issuing Total Sales Volume in Mass Best Issuing International Sales Volume in
Affluent Product in Indonesia 2022 Mass Affluent Product in Indonesia 2022
February 28, 2023
March 1, 2023 March 1, 2023 March 1, 2023 SWA & Dunamis Organization
JCB Indonesia JCB Indonesia JCB Indonesia Services
OMNI BRANDS of the Year “BNI Top Innovation Choice Awards 2023 The 1st Rank – 1st Rank Performance Excellence
API Corporate One Gate Payment for BNI Giro Multi Currency Innovation Corporate Secretary Champion Progressive Business Unit Award
Integrated Digital Services “Banking Solution Capable of 2023 Charter
Category” Settlement of Payments in Various
Currencies with One Account”
April 2023 April 23, 2023 April 1, 2023 May 2023
Marketeers Infobrands.ID dan TRAS N CO SWA BNI Excellence Employee Award 2023
192 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Excellent Service Experience Award 2023, 20th Banking Service Kawan BNI Program - Best Participant in Category at 2023
Exceptional Performance in Delivering Excellence Award 2023 B Universe CSR Award 2023 Internal Supervision Expo
Positive Customer Experience 2023
kategori Regular Banking June 20, 2023 May 31, 2023 June 19, 2023
May 10, 2023 Infobank Investor Daily BPKP
CCSL (Carre Center for Customer
Satisfaction & Loyalty) & Marketing
Magazine
The 1st Best - Call Center The 1st Best Contact Center The 1st Best - Phone Banking The Best Contact Center Indonesia 2023
in Services Excellence - Corporate Category 2 Medals
- Individual Category 10 Medals
June 20, 2023 June 20, 2023 June 20, 2023 September 26, 2023
Infobank, Infobank, Infobank, Indonesia Contact Center Association
Marketing Research Indonesia (MRI) Marketing Research Indonesia (MRI) Marketing Research Indonesia (MRI) (ICCA)
Corporate Card Issuer with the Highest Growth in Airlines Co-Brand • The Highest Commercial Credit Best Corporate Partner 2023
Highest Payment Volume from Credit Card for Visa Platinum & Visa Card Volume for KBMI 4
January 2020 – June 2022 Signature 2022 • The Highest YoY Signature Credit
Card Volume Growth 2022
October 12, 2023 October 17, 2023 October 25, 2023 October 2023
PT. Visa Worldwide Indonesia PT. Visa Worldwide Indonesia PT. Visa Worldwide Indonesia PT. Visa Worldwide Indonesia
Gold Winner - The Most Supportive Indonesia Brand Communication CNBC Indonesia Awards 2023 – Financial Services Business Actors
Partner Championship 2023 Most Innovative Brand of Wholesale Driving Inclusive Finance for
Category The Best Digital Brand Activation Digital Channel Persons with Disabilities
2023 – Campaign Strategy Xpora
October 27, 2023 December 5, 2023 December 13, 2023 October 26, 2023
Pegipegi Majalah MIX Marcomm CNBC Indonesia Otoritas Jasa Keuangan (OJK)
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 193
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Other National Awards
Awards Month - Year Organized By
6th Satisfaction Loyalty Engagement Category
Engagement Index, Loyalty Index, Satisfaction Index dan January 2023 Infobank
Marketing Index
12th Best Digital Brand 2023 April 12, 2023 Infobank
SOE Partner Champion 2023, Second Place in Agent
April 4, 2023 Ministry of SOE
Category, Untung Kuncoro
SOE Partner Champion 2023, Third Place in Agent
April 4, 2023 Ministry of SOE
Category, Siti Mas Amah
The Highest Digital Index Bank Savings Account April 12, 2023 Infobank
The Highest Digital Index/Bank Deposit April 12, 2023 Infobank
The 2nd Highest Digital Index/Bank Mortgage Loan April 12, 2023 Infobank
The 2nd Highest Digital Index/Conventional Debit Card April 12, 2023 Infobank
The Best/Deposito Conventional Bank/KBMI April 12, 2023 Infobank
The Best/Bank Saving Account/KBMI 4 April 12, 2023 Infobank
The 2nd Best/Debit Card Conventional Bank/KBMI 4 April 12, 2023 Infobank
The 2nd Best/Mortgage Loan Conventional Bank/KBMI 4 April 12, 2023 Infobank
TOP Innovation Choice Award 2023 from INFOBRANDS.
April 13, 2023 INFOBRANDS.ID dan TRANS N CO
ID and TRANS N CO
Infobank,
The Best Govermennt Bank In Service Excellence 2023 June 20, 2023
Marketing Research Indonesia (MRI)
Titanium Recognition - 15 Consecutive Years in Service Infobank,
June 20, 2023
Excellence Marketing Research Indonesia (MRI)
Infobank,
The 1st Best Digital Channel In Service Excellence June 20, 2023
Marketing Research Indonesia (MRI)
The 1st Best - Convenient Branch Experience in Priority Infobank,
June 20, 2023
Service Marketing Research Indonesia (MRI)
Infobank,
The 2nd Best In Service Excellence June 20, 2023
Marketing Research Indonesia (MRI)
Infobank,
The 2nd Best E-Banking In Service Excellence June 20, 2023
Marketing Research Indonesia (MRI)
Infobank,
The 2nd Best – Chattbot June 20, 2023
Marketing Research Indonesia (MRI)
Infobank,
The 2nd Best - Mobile Banking June 20, 2023
Marketing Research Indonesia (MRI)
Most Engaging Brand In Festive Season 2023 Category
July 11, 2023 MIX Marcomm Magazine
Banking
IAIB Award for Lifelong Learner Category 2021-2023 July 13, 2023 IAIB
Best KEJAR Achievement Bank Category in the context of
August 20, 2023 Financial Services Authority (FSA)
Indonesia Savings Day
Best Religion Based Education Unit Bank Category for
August 20, 2023 Financial Services Authority (FSA)
KEJAR Implementation
Best KEJAR Digitalization Bank Category August 20, 2023 Financial Services Authority (FSA)
Ranked 1st in Top Social Media Award 2023 Credit Card
September 2023 Marketing Magazine
Category – BNI Credit Card
Ranked 1st in Top Social Media Award 2023 KPR Category
September 2023 Marketing Magazine
– BNI Griya
Trade Pass World Financial Innovation Series Indonesia Trade Pass World Financial Innovation
October 2023
Awards 2023 – Data & Analytics Leader Of The Year Series Indonesia
The Indonesian Institute for Corporate
The Most Trusted Company December 20, 2023
Governance (IICG)
194 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
CERTIFICATION
ISO 9001:2015 Quality Management ISO 30301/2019: Management System ISO 9001:2015 Quality Management for ISO 9001:2015 Quality Management for
Systems for BNI Contact Center for Records for Archives Units Vendor Management (VM) Units Self Estimated Unit Prices (HPS)
Services in BSD, Surabaya and
Semarang Site PT Tuv Sud Indonesia PT Llyod’s Register Indonesia PT Llyod’s Register Indonesia
SGS United Kingdom, UKAS, dan IAF October 26, 2020-October 21, 2023 November 27, 2020-November 26, 2023 November 12, 2020-November 11, 2023
2023-2026
SO 37001:2016 Anti-Bribery Platinum Greenship New Building V.1.2 Gold Greenship New Building V.1.2 Sertifikasi Sistem Manajemen Anti
Management System scope of Plaza BNI Menara BNI Penyuapan (SMAP)
Procurement of Goods and Services at
Procurement & Fixed Assets Division World Green Building Council World Green Building Council Tuv Nord
PT Sucofindo Until October 26, 2025 Sampai dengan 11 November 2023 Desember 2023-2026
August 11, 2020-August 10, 2023
Other Certification
Certification Validity Period Issued by
National Certification Body,
ISO 9001:2015 – Provision of in house training and e-learning/digital learning 2017-2023
PT SGS Indonesia
ISO 9001:2015 Certificate for Quality Management System in Trade
2020-2024 SAI Global Assurance
Processing Services
ISO 9001/2015: Quality Management for HPS Units 2020-2023 PT Sucofindo
ISO 9001/2015: Quality Management for Units Vendor Management 2020-2023 PT Sucofindo
ISO 30301/2019: Management System for Records for Archives Unit 2020-2023 PT Tuv Sud Indonesia
New Building Greenship Certificate V.1.2 PLATINUM Level for Plaza BNI 2022-2025 Green Building Council Indonesia
ISO 9001:2015 Quality Management System 2024 Llyod’s Register
ISO 9001:2015 Sistem Manajemen Mutu March 2023-March 2025 PT SGS Indonesia
January 16, 2023 – National Certification Body,
ISO 27001:2013 Information Security Management System (ISMS)
October 31, 2025 PT SGS Indonesia
BNI Bank Training Institute Accreditation:
• Field: Securities Administration Accreditation Institution for Job
2021 – 2026
• Field: Cash Management Training Institution
• Field: Fund Transfer Management
ISO 9001:2015 26 Juni 2024 Llyod’s Register
ISO 9001:2015 Quality Management System for Services
1. Real Time Gross Settlement 9. Jabodetabek Central Cash
2. Remittance Services Services
3. Bank Guarantee 10. Debit Clearing
4. Kredit Clearing 11. Central Foreign Banknotes
5. Debit Card Production and Services, Accreditation Institution for Job
2021 – 2026
Distribution, 12. Trustee Services Training Institution
6. Credit Administration 13. Treasury Transaction Services
7. State Financial Transaction 14. National Bank List Office
8. Custodian Services 15. Mutual Fund
16. Remittance Transactions
Reconciliation
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 195
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
196 From Local to Global
Page 197
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
198 Economy and Industry Overview 338 Details of Matters Arising in 2023
204 BNI Strategic Policy for 2023 339 Business Prospects for 2024
206 Operational Overview per Business Segment 340 Performance Projections for 2024
207 Operating Segment 341 Marketing Aspect
260 Geographical Segment 344 Dividend and Distribution Policy
264 Digital Banking Taxation and Non-Tax State Revenue (PNBP) : BNI's Contribution to
347
National Development
280 Comprehensive Financial Overview
Information regarding the Realization of Use of Public Offering
321 Ability to Pay Debt 349
Proceeds
322 Company Receivables Collectibility Level/Loan Collectibility Level 355 Negotiable Certificate `Of Deposit (NCD
325 Credit Risk Management Material Information Regarding Corporate Action, Investments,
Capital Structure and Management Policy for Capital Structure and 356 Expansions, Divestments, Business Mergers, Acquisitions, and/or
331 Restructuring
Capital Risk Management Practices
334 Business Target Achievements in 2023 Information on Material Transactions that Contain Conflicts of
359
Interest and/or Transactions with Affiliated/Related Parties
336 Business Continuity Information
365 Changes to Legal Regulations that significantly impacted BNI
374 Changes in Accounting Policies and Their Impact on BNI
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 197
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Economy and Industry
Overview
DEVELOPMENT IN GLOBAL CONDITIONS
The global economy continued its slowing trend in 2023, and the IMF estimated global economic growth to only reach
3.0%, down from 3.5% in 2022. This was due to the post-pandemic scaring effect, high inflationary pressures due to
demand-supply imbalances, geopolitical conflicts, and structural problems in the world’s major economic countries.
198 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Comparison of Economic Growth Between Countries
VNM 5,80
4,70
THA 3,20
2,70
PHL 5,90
5,30
MYS 4,30
4,00
IDN 5,00
5,00
IND 6,30
6,30
CHN 4,20
5,00
SGP 2,10
1,00
AUS 1,20
1,80
KOR 2,20
1,40
JPN 1,00
2,00
FRA 1,30
1,00
GER 0,90
-0,50
GBR 0,60
0,50
EUR 1,20
0,70
USA 1,50
2,10
-1.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00
Economic Growth Projection (%FY)
FY24F FY23F
Source: IMF, BNI Office of Chief Economist
The global economy was also marked by some advanced dynamics. Firstly, the high reference interest rates in many
countries was the result of high inflation trends. Higher inflation occurred since Semester II-2022, and only started to
subside entering Quarter II-2023.
Monthly Comparison of Annual Inflation Between Countries
12,00
10,00
8,00
6,00
5,55
4,00 4,00
3,35
2,61
2,00
2,59
0,00 -0,30
Sep-20
Sep-21
Sep-22
Sep-23
Mar-20
Mar-21
Mar-22
Mar-23
Des-20
Des-21
Des-22
Des-23
Jun-20
Jun-21
Jun-22
Jun-23
Sep-19
Mar-19
Des-19
Jun-19
-2,00
Jan-19
Consumer Price Index Inflation (CPI) Between Countries (%)
China India Indonesia Japan United States English
Source: CEIC, BNI Office of Chief Economist
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Monthly Comparison of Policy Interest Rates Between Countries
7,00
6,50
6,00 6,00
5,33
5,00 5,25
4,50
4,00
3,00
2,50
2,00
1,00
0,00
May-21
May-22
May-23
Aug-21
Aug-22
Aug-23
Nov-21
Nov-22
Nov-23
Sep-21
Sep-22
Sep-23
Mar-21
Mar-22
Mar-23
Des-21
Des-22
Des-23
Jun-21
Jun-22
Jun-23
Jan-21
Feb-21
Jan-22
Feb-22
Jan-23
Feb-23
Apr-21
Apr-22
Apr-23
Oct-21
Oct-22
Oct-23
Jul-21
Jul-22
Jul-23
Comparison of Interest Rate Policies Between Countries (%)
EUR IDN GBR CHN (LPR) IND USA
Source: CEIC, BNI Office of Chief Economist
Secondly, commodity prices experienced a decline throughout 2023 compared to 2022. In general the main commodities,
the decrease was quite significant compared to 2022. For example, there were large declines in coal commodities (-55%
YoY), natural gas (-58% YoY), and palm oil (-28% YoY). These commodity price declines throughout 2023 were due to the
normalization of the goods and services value chain, as well as moderate growth in the US and China.
Commodity Prices Experienced a Downward Trend Throughout 2023
Average 2021 Average 2022 Average 2023 2023-2022 (% YoY)
Barley 2,025 2,933 2,070 (29.4)
Corn (EUR/MT) 239 327 229 (29.9)
Rice (USD/cwt) 13 17 17 1.2
Wheat (USD/bu) 706 890 628 (29.5)
Soybean Oil (USD/bu) 1,376 1,560 1,403 (10.1)
Palm oil 4,495 5,235 3,763 (28.1)
Aluminum 2,500 2,683 2,301 (14.2)
Gold 1,792 1,796 1,957 8.9
Copper 426 395 388 (1.6)
Iron ore 1,001 824 921 11.8
Tin 2,204 2,151 2,119 (1.5)
Nickel 18,637 25,557 21,265 (16.8)
Coal 142 359 162 (55.0)
Crude Oil (Brent) 71 101 83 (18.0)
Natural gas 4 6 3 (58.3)
Source: Bloomberg, BNI Office of Chief Economist
Third, the global economy was also marked by geopolitical tensions between several countries, for example the ongoing
Ukraine-Russia conflict and new conflicts in the Middle East. Furthermore, the unstable relationship between the US and
China also filled the geopolitical conditions in 2023 which are expected to continue this year.
Fourthly, the increasing concern on environmental issues also impacted global conditions in 2023, including the El-Nino
phenomenon that started in April 2023.
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DEVELOPMENT OF NATIONAL CONDITIONS
In the midst of challenging macro conditions in 2023, the Indonesian economy was in a better position compared to
peers. As of Quarter III-2023, economic growth was 5.1% and was expected to close at 5.0% at the end of 2023, better
than the economic growth of other countries. The domestic economy was supported by household consumption and
investments, and Government spending, while net exports still contributed positively, even though they decreased quite
significantly compared to their contribution in 2022.
Based on production, Indonesia’s GDP saw support from the primary and secondary sectors such as the mining sector,
processing industry and construction. In the processing industry (manufacturing) subsector, growth was still solid in
the metal processing industry, basic metals, transportation equipment; whereas, export-oriented processing industries,
such as clothing and footwear, experienced contraction.
Domestic Economic Growth in 2023 Supported by Household Consumption and Investment
7,08
5,01 2,30 5,73
4,96 5,46
5,03 5,02 5,01 5,04 5,17 4,94
2,0 1,66
2,30 0,24
1,17 2,17 1,98
3,53
2,97 1,39
0,77 1,57
1,38 1,41 0,95
1,48 0,73 1,81
1,22 1,33 1,09 0,68
0,57
0,56 2,92
1,89 3,19 2,81
1,19 2,38 2,44 2,77
2,69 2,71 1,86 2,35
1,91 2,63
2,71 1,16
0,55
0,15
-0,44 -0,91 0,10
-1,22
-2,96 -2,17 -1,97 -0,07
-0,45
-2,12
-2,12
-2,73 -2,17
-3,49
-5,32
1Q20
2Q20
3Q20
4Q20
1Q21
2Q21
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
1Q23
2Q23
3Q23
3Q19
4Q19
GDP Growth Contribution (Percent Points)
Private Consumption Govt Expenditure GFCF Net Export Other
Source: BPS, CEIC, BNI Office of Chief Economist
In terms of prices, the national inflation entered a normalization trend where the trend slowed down faster than expected.
Inflation closed at 2.6% in 2023 with a core inflation low at 1.8%. The risk of inflation lies in the food segment which will
reach 6.4% as of December 2023, caused by El-Nino and the protection policy of commodity exporting countries such
as India which has banned rice exports.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 201
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National inflation entered the normalization trend in 2023
7.0 16
6.0 14
12
5.0 10
8
4.0
6
6,7
3.0 2,6 4
2
2.0 1,7
0
1,8
1.0 -2
Aug-20
Aug-21
Aug-22
Aug-23
Aug-18
Aug-19
Dec-20
Dec-21
Dec-22
Dec-23
Dec-17
Dec-18
Dec-19
Apr-20
Apr-21
Apr-22
Apr-23
Apr-18
Apr-19
CPI Inflation (%YoY)
Headline Core Administered - RHS Volatile Food - RHS
Source: BPS, CEIC, BNI Office of Chief Economist
Even though inflation was low, the BI rate remained high, at 5.75% until September 2023 and 6% at the start of October
2023, where the current policy focus of Bank Indonesia was to maintain the stability of the Rupiah exchange rate amidst
the global uncertainty. As an illustration, in the period August-October 2023 the outflow of foreign funds was -US$ 4.5
billion in the bond and stock markets, which caused the Rupiah exchange rate to depreciate to its weakest position of
IDR15,940 in October 2023. However, the exchange rate gradually strengthened to reach IDR15,397 at the end of 2023 in
line with the more dovish monetary policy outlook of the United States central bank.
Foreign Capital Flows Came Out in 3Q23 and 4Q23 But Have Gradually Come Back In
3.1 3.1
(1.6) 2.0
1.7
1.6
1.1 1.2 1.1 0.8
0.3 0.8
0,1 0.1
(0.4) (0.6)
(1.0) (0.1)
(1.7)
(1.6) (1.9) (1.4)
(2.1)
(2.3)
May-22
May-23
Aug-22
Aug-23
Nov-22
Nov-23
Sep-22
Sep-23
Mar-22
Mar-23
Des-22
Des-23
Jun-22
Jun-23
Jan-22
Feb-22
Jan-23
Feb-23
Apr-22
Apr-23
Okt-22
Okt-23
Jul-22
Jul-23
Equity Govt Bonds SRBI Total Net Flows
Source: Bloomberg, BNI Office of Chief Economist
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From the banking industry side, Based on statistics released by Bank Indonesia, credit growth in 2023 will be 10.3%
YoY or IDR7,045 trillion, in the upper range of Bank Indonesia’s credit growth estimate (9-11%), with the highest growth
occurring in investment credit (11.0% YoY), followed by working capital (10.7% YoY) and consumption credit which grew
8.9% YoY. At a time when credit growth is in the range above Bank Indonesia’s estimates, Third Party Funds (TPF) grew
more moderately by 3.8% YoY or to IDR8,234 trillion, so that the loan-to-deposit ratio rose to 84% in December 2023 from
the position at the beginning of the year at 79%.
Credit Growth of 2023 Closed at 10.3% FY23 with LDR Rate of 84%
84
10,3
3,8
Aug-21
Aug-22
Aug-23
Dec-21
Dec-22
Dec-23
Jun-21
Jun-22
Jun-23
Feb-21
Feb-22
Feb-23
Apr-20
Apr-21
Apr-22
Apr-23
Oct-21
Oct-22
Oct-23
LDR (%) Loan YoY (%) Deposit YoY (%)
Source: OJK, BNI Office of Chief Economist
Laporan
AnnualTahunan
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BNI Strategic
Policy for 2023
STRATEGIC POLICY 2023
Facing various external challenges in 2023, especially related to increasing geopolitical risks, high inflation and global
interest rates, especially in the United States, and the economic slowdown in China, BNI takes the strategic steps to
maintain solid performance and provide optimal returns for its customers. shareholders. BNI’s Strategic Policy in 2023
largely includes the application of digitalization to networks and business processes, to encourage consistent growth
from year to year, expand market access and operational efficiency. The efforts made to increase digital technology
capabilities are directed at making BNI a competitive bank, capable of meeting customer expectations. As a SOE, BNI
also plays a role as an agent of development, which is expected to help the real sector achieve optimal economic growth.
BNI has also instigated other initiatives in line with Government programs, and synergizes with other SOEs to ensure
the Government programs are a success.
In the Company’s series of long-term plans (corporate plans), 2023 is the momentum for BNI to enter the “Best in Class”
phase which focuses on strengthening digitalization and the customer journey approach by offering integrated business
solutions in leading sectors, after previously being in the “Enhancing the Basic” which focuses on improving business
foundations so that BNI can grow sustainably
ENHANCING BEST IN CLASS
THE BASICS CAPABILITY
• Creating a hybrid customer journey
• Strengthening risk & operational
• Offering business solutions in key
management
sectors
• Increasing digital capability
• Increasing the penetration of
• Strengthening Human Capital
subsidiaries into MNC
• Strengthening capital
2021 - 2022 2023 - 2024
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In an effort to achieve previously set targets, BNI instigated a 2023 strategic policy as explained below:
Increasing Top Tier
Client Expansion Carrying out
Increasing FBI and Human Capital
CASA and Operational
Transformation
Developing IT Strengthening
Infrastructure and International
Innovation Business
Improving
Increasing BNI
Transaction
Group Business
Solutions and
Optimization
Ecosystems
1. Developing transaction & ecosystem solutions to 4. Increasing business expansion in the corporate top
meet customer needs by offering ecosystem business tier as well as priority sectors, value chains and cross
and financial solutions to institutional customers, top selling by prioritizing a risk culture with a focus on
tier corporate customers (diamond clients), prime expansion on Diamond Clients, which are the pipeline
customers and selected universities. So that customer for increasing loan expansion & financial solutions for
cross selling can be optimized. the MSME segment in the corporate value chain
2. Developing technology infrastructure and digital 5. Continuing the transformation of Human Capital,
innovation through data analytics, orientation towards Culture and Operations to make it more agile and lean
improving customer experience, and expanding to support the business by implementing an agile and
partnerships. Increasing product innovation and digital- flexible organization. And developing a new more
based integrated channels as an important step in efficient operating model to support the business and
winning against increasingly competitive competition. digital processes and mitigate operation risk.
Meanwhile, partnership expansion is carried out by 6. Strengthening international business networks to
optimizing the API (Application Programming Interface) support global market penetration by increasing the
platform, which allows collaboration with fintech and KCLNs’ role in building trade hubs and FDI Advisory and
startups in order to provide easy transaction services developing international business networks to expand
and improve customer experience. in global markets to support the Xpora ecosystem,
3. Focusing on increasing sustainable Current accounts including Diaspora Saving, Diaspora Invest and
and savings (Current Account Savings Account or Diaspora Lending.
CASA) and Fee Based Income (FBI) can be achieved 7. Optimizing BNI Group synergies by strengthening
by improving comprehensive transaction services and the position of Subsidiaries, Optimizing Subsidiaries
innovations to support low cost CASA, and by focusing synergy to support market leader targets by penetrating
on developing digital-based business models in several the Corporate segment as an anchor. Strengthening
priority sectors. digital banks and PMV to support new business models
and BNI’s performance. Strengthening subsidiaries
engaged in digital banking and venture capital within
the framework of strengthening new business models
that support BNI’s performance.
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Operational Overview
per Business Segment
Previously in 2022, BNI’s operating segments were divided based on main customer groups and products, as follows:
Corporate & International Banking, Institutional Banking, Enterprises & Commercial Banking, Consumer Banking,
Treasury, Head Office and Subsidiaries. BNI applies the 3 Dimensional concept for internal performance assessment,
namely Segment Dimensions, Channel Dimensions and Product Dimensions, which this concept has been used since
2022. For segment reporting purposes, the reported subject is based on Segment Dimensions.
In 2023, BNI implemented changes to the operating segments which were aligned with changes in the nomenclature
of the Board of Directors based on the results of the 2022 Annual GMS which was held on March 15, 2023. Regarding
changes to the operating segments according to the Annual GMS, BNI made changes by moving the SME Business from
Enterprise & Commercial Banking and Business Programs from Institutional Banking were combined with Consumer
Banking to become the Retail Banking segment.
Further, this review contains an explanation regarding the operating segments which are also presented in the Audited
Financial Report Notes as part of this annual report. The BNI segment is divided into 2 (two) aspects, namely:
1. Operating segments describe BNI’s business segments based on main customer groups and products. Previously in
2022, BNI’s consolidated operating segments were divided based on main customer groups and products, as follows:
Corporate & International Banking, Institutional Banking, Enterprises & Commercial Banking, Consumer Banking,
Treasury, Head Office and Subsidiaries.
2. Geographic segments based on geographical distribution of BNI’s business, divided into Indonesia, the United States,
Europe and Asia.
BNI Segment Distribution
Geographic Segment
Operating Segment
Describes the geographical
Based on main customer
distribution of BNI’s business
groups and products
Segment
BNI
206 From
Menduniakan
Local to Bisnis
GlobalIndonesia
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Operating
Segment
Responding to the intense competition in the banking industry, customer needs that continue to develop and dynamic,
as well as the increasing complexity of the industry, banks need to set strategies that take into account market conditions
and a balanced portfolio in each segment, so that they can provide maximum results to fulfill customer needs end-to-end.
Determining Operational Segments aims to develop solutions for customers end-to-end across channels, both physical
and digital, or across products. Customers can then maximimize its use of all BNI products based on their needs through a
one-stop service presented by each regional relationship manager.Through customer analysis and portfolio management
(CAU), customer needs in the Business Banking sector are translated into a value-based industry analysis, business
banking sector portfolio management, review and improvement of Business Banking loan systems and procedures, and
customized loans for customers with minimal risk. It is hoped that the results of this analysis will improve the quality of
BNI services focused on the “customer centric” principle, sharper in efforts to fulfill customer needs.
Adopting an operating segment system will then have an impact on the way BNI’s Operating Segment is measured and
performs based on customer ownership. With this approach, BNI has proven that is increasingly capable of continuing
to improve overall in its branches, regionals, head office and overseas branch offices in terms of providing information
for decision making and improvements based on data and customer needs to maximize BNI’s performance.
In summary, each reporting per segment in BNI’s operating segment reporting is as follows:
Wholesale & International Institutional Banking Enterprise & Commercial Retail Banking
Banking Banking
Loans disbursed, customer savings and
other transactions belonging to SME
Loans disbursed, customer Loans disbursed, customer Loans disbursed, customer customers, The loans provided consist
deposits and other transactions deposits and other transactions deposits and other transactions of program credit and consumer
belonging for corporate belonging to customers of belonging to medium/commercial including consumption loans financing
Ministries, Institutions and scale customers. loans including home ownership loans,
customers, both SOEs and private credit cards and other products and
businesses including financial Universities. services such as third party funds,
institutions and overseas branch payment transactions and other
office customers. transactions belonging to individual
customers.
Treasury Subsidiaries Head Office
Related to the Bank’s treasury All transactions carried out Managing BNI assets and liabilities
activities such as foreign by Subsidiaries engaged in other than those managed by other
operating segments, including receiving
exchange, money markets, fixed insurance, consumer financing, cost allocations for providing centralized
income and capital markets. banking, venture capital, securities services to other segments as well as
and investment management. income/costs that are not allocated to
other reporting segments.
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In order to provide an initial overview of the business of these operating segments, the following is the contribution of
each segment to BNI’s profit, loans disbursed and third party funds (DPK).
Operating Segment Profit and Loss Report
2023 2022 Increase (Decrease)
Operating Segment Nominal Percentage
IDR-billion % IDR-billion %
(IDR-billion) (%)
Wholesale & International
11,657 55.2 4,935 23.4 6,722 136.2
Banking
Institutional Banking 1,053 5.0 (1,476) (7.0) 2,529 171.3
Enterprise & Commercial
2,399 11.4 3,445 16.3 (1,046) (30.4)
Banking
Retail Banking 9,894 46.9 12,206 57.8 (2,312) (18.9)
Treasury 2,345 11.1 5,754 27.3 (3,409) (59.2)
Head Office (6,564) (31.1) (6,331) (30.0) (233) (3.7)
Subsidiaries 421 2.0 311 1.5 110 35.3
Adjustments and Eliminations (99) (0.5) (363) (1.7) 264 (72.7)
Operating Segment Net Profit
21,106 100.0 18,482 87.6 2,624 14.2
and Loss
1,5% 2,0%
23,4%
(30,0%) (31,1%)
55,2%
(7,0%)
11,1%
27,3% 2022 16,3% 2023
57,8% 46,9%
5,0%
11,4%
Wholesale & International Banking Institutional Banking Enterprises & Commercial Banking
Retail Banking Treasury Head Office Subsidiaries
Credit per Operating Segment
Increase (Decrease)
2023 2022 Nominal
Operating Segment % %
IDR-billion IDR-billion (IDR- Percentage (%)
billion)
Wholesale & International
353,141 50.8 310,219 48.01 42,922 13.8
Banking
Institutional Banking 16,017 2.3 13,147 2.0 2,870 21.8
Enterprises & Commercial
105,519 15.2 112,549 17.4 (7,030) (6.2)
Banking
Retail Banking 213,235 30.7 206,715 32.0 6,520 3.2
Subsidiaries 9,043 1.3 3,870 0.6 5,173 133.6
Adjustments and Eliminations (1,870) (0.3) (312) 0.0 (1,558) 499.9
Total Operating Segment Credit 695,085 100.0 646,188 100.0 47,897 7.6
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0,6% 1,3%
32,0% 48,0% 30,7% 50,8%
2022 2023
17,4% 15,2%
2,0% 2,3%
Wholesale & International Banking Institutional Banking
Enterprises & Commercial Banking Retail Banking Subsidiaries
Third Party Funds per Operating Segment
2023 2022 Increase (Decrease)
Segment Total Composition Total Composition Nominal Percentage
(IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%)
Wholesale & International
253,649 31.3 252,215 32.8 1,433 0.6
Banking
Institutional Banking 136,146 16.8 105,720 13.7 30,427 28.8
Enterprise & Commercial
54,701 6.7 59,556 7.7 (4,856) (8.2)
Banking
Retail Banking 357,213 44.1 343,212 44.6 14,001 4.1
Treasury 0 0.0 2,091 0.3 (2,091) (100.0)
Subsidiaries 10,236 1.3 7,523 1.0 2,713 36.1
Adjustments and eliminations (1,215) (0.1) (1,049) (0.1) (166) 15.8
Total Third Party Funds of 810,730 100.0 769,269 100.0 41,461 5.4
Operating Segment
1,0% 0,3% 1,3% 0,0%
13,7%
44,1% 31,3%
32,8% 7,7%
2022 2023
44,6%
16,8%
6,7%
Wholesale & International Banking Institutional Banking
Enterprises & Commercial Banking Retail Banking Treasury Subsidiaries
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WHOLESALE & INTERNATIONAL BANKING
Wholesale & International Banking Solution is a service offering complete financial needs (one stop financial solution)
to support local and international customers’ business activities, both in terms of loan distribution, fund management
and other transactional activities in a comprehensive manner.
For loan distribution, the solutions provided to customers are divided into Corporate Finance, Project Finance, Supply
Chain Financing and Structured Finance. For fund management and transactional activities, BNI is oriented towards
customer needs in managing their financial transactions.
The criteria for managing customers in the Wholesale & International banking (WHI) sector includes non-individual
customers, whether private companies, SOEs, non-banking financial institutions and financial institutions with the
following parameters:
Wholesale & International Banking (WHI) Customer Profile Parameters
Parameter Customer Profile
Companies with Gross Annual Sales (GAS) > IDR1.5 trillion (including business groups) and Maximum Loans
Company Size
> IDR500 billion and/or Average TPF > IDR100 billion.
• Wholesale
a. Domestic :
Globe’s 150 Richest Indonesians and its groups; Forbes 500 and its groups; LQ45 and its groups; SOEs
and its groups; Tbk Company and its groups; Non-Tbk Companies and its groups;
b. Overseas :
Loans and Funds in Overseas Branches managed by the Overseas Offices.
Nasabah
• International
a. Domestic :
Bank and Non-Bank Financial Institutions; Regulatory and Non-Regulatory Pension Funds; Himbara
Bank Subsidiaries; Indonesian Financial Group (IFG); Fintech related to financing.
b. Overseas :
Loans and Funds in Overseas Branches managed by the Overseas Offices.
Competitive Advantage and Corporate Banking 2. System enhancement for custodial transactions to
Innovation increase efficiency and security for customers.
COMPETITIVE ADVANTAGE Wholesale & International Banking Segment
BNI optimizes its competitive advantages by having the widest Strategy in 2023
overseas office network compared to other domestic banks.
This is in line with the mandate given by the Government BNI Wholesale & International Banking is committed to
to BNI to become an Indonesian bank with global capacity. providing comprehensive solutions and implementing
BNI’s overseas branch offices are located in the world strategic steps that are priorities in maintaining solid
financial centers and includes Singapore, Hong Kong,Tokyo, performance and providing optimal income in 2023,
London, New York, Seoul, with the Representative Office in including:
Amsterdam.The Foreign Offices (KLN) play a role in providing 1. Diversify credit by focusing on excellent corporate
facilities to corporate banking customer business groups customers, especially blue-chip companies.
operating overseas, as well as suppliers and buyers from BNI 2. Working on the corporate customer value chain to
Head Office debtors.The Company is becoming increasingly provide end-to-end services to customers.
more active in participating in top tier syndicated loans, and 3. As part of BNI’s mandate as a Global Bank, the BNI
special supply chain financing schemes. network in Singapore, Hong Kong, Tokyo, London,
New York, Seoul, Amsterdam and Osaka focuses on
INNOVATION supporting the Indonesian Diaspora through various
To support efforts to increase the Wholesale & International banking services, both conventional and digital.
Banking business, BNI carried out several innovations 4. Maintaining BNI’s liquidity by focusing on increasing
including: the collection of low-cost funds or Current Account
1. Launched a platform through the BNI CONNECT to Saving Accounts (CASA) through optimizing the use
facilitate coordination and provide cross-segment of e-channel transactions both through BNI Mobile
transaction services tailored to the needs of each Banking and BNI Direct.
customer.
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WHOLESALE & INTERNATIONAL PRODUCTIVITY AND PROFITABILITY
Wholesale & International Banking Segment Productivity
Increase (Decrease)
2023 2022
Productivity Nominal
IDR-billion IDR-billion Percentage (%)
(IDR-billion)
Total Credit 353,141 310,219 42,922 13.8
Total Third Party Funds 253,649 252,215 1,433 0.6
Giro 197,876 188,052 9,824 5.2
Savings 1,070 7,022 (5,952) (84.8)
Deposit 54,703 57,141 (2,438) (4.3)
Wholesale & International Banking Segment Profitability
Increase (Decrease)
2023 2022
Profitability Nominal Percentage
IDR-billion IDR-billion
(IDR-billion) (%)
Interest income - net 11,447 10,469 978 9.3
Other operating income 4,615 4,318 298 6.9
Other operational expenses (4,880) (4,075) (805) 19.8
Establishment of allowance for
475 (5,776) 6,251 (108.2)
impairment losses
Operational profit 11,657 4,935 6,722 136.2
Non-net operating income
- - - -
(expenses)
Profit before tax expense 11,657 4,935 6,722 136.2
Wholesale & International Banking Segment Funds recorded b. Increasing BNI’s ESG portfolio exposure by
an increase, especially in Current Account products, which expanding into the new renewable energy sector,
reached 5.2% YoY or Rp9.8 trillion compared to 2022, this energy efficiency, pollution prevention and control,
is in line with BNI’s efforts to maximize transactional management of biological natural resources and
Giro so that customers can maximize the transactional sustainable land use, environmentally friendly
features contained in Giro which will ultimately increase transportation, green building, or other industrial
customer satisfaction with BNI’s excellent transactional sectors that apply ESG principles.
banking products . In terms of profitability, profit before tax c. Providing one stop financial solutions designed
increased by 136.2% compared to last year, this was driven to suit the needs of each customer through
by an increase in other operating income and improvements collaboration with related divisions and subsidiary
in credit quality which then resulted in the formation of an companies.
allowance for impairment losses which was much lower 2. Business strategy
than last year. a. Implementing the “Three Pronged Business Model”
by providing transaction solutions to correspondent
Wholesale & International Banking Segment Prospects, banks in Indonesia, especially local banks and BPD.
Potential and Strategy for the Coming Year 2024 Business expansion into the platinum and gold
segments as well as collaboration with new banks
To face the challenges and opportunities in 2024, the WHI are top priorities.
sector has established the following strategic plan: b. Providing integrated solutions by prioritizing cross-
1. Portfolio strategy selling of BNI and subsidiary products. Apart from
a. Determine priority sectors that have a positive impact that, strategic focus is also prioritized by diversifying
on increasing potential market share, credit asset clients and developing more efficient systems.
quality and BNI profitability, including the energy, c. Collecting healthy quality third party funds, by
agribusiness, manufacturing, telecommunications offering a one stop solution and easy customized
and digital economy sectors. transactions using BNI Direct, so that BNI cash
management can become the main choice for
corporate customers.
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d. Making the BNI International Desk a Foreign Direct Investment (FDI) Advisory Unit that provides the best solutions
for foreign companies through collaboration with strategic stakeholders, including the Ministry of Investment,
Coordinating Ministry for Maritime Affairs and Fisheries, KADIN, and related business associations or entrepreneurs.
What are they saying
Michael William P. Soeryadjaya Agus Salim Pangestu
Director of PT Adaro Energy Indonesia Tbk CEO of Barito Pacific
BNI is one of the Adaro Group’s main banking Barito Pacific and the Group are currently in a
partners and provides total financial solutions for strategic position in its business development and
the corporate to individual segments, including business expansion, based on a mission to help
employees. BNI’s transaction and financial services develop Indonesia and support industrial growth. BNI
are currently increasingly advanced while still is a trusted partner for Barito Pacific and the Group
prioritizing prudential business. We are optimistic and always provides support every step of the way.
that we can grow together with BNI, creating a Hopefully this partnership will always be maintained
seamless and sustainable business development. and fertilized well. With strong support from funding
partners such as BNI, especially financial support
towards the net-zero emission target, together we
can go further to develop the country.
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Practices Governance Responsibility Commitment Statements
INSTITUTIONAL BANKING
The Institutional Banking Business Segment provides banking products and services for Ministries, agencies or institutions
sourced from the State Revenue and Expenditure Budget (APBN).The banking solutions provided include management of
savings services (current accounts and deposits), distribution of ASN salaries and performance allowances, distribution
of social assistance, state revenues (Tax, PNBP, etc.), digital banking (virtual accounts, platform/ecosystem collaboration,
and others), domestic/foreign loans and other banking services to meet the needs of Ministries, agencies or institutions
so that BNI can serve the business ecosystem as a whole. The Institutional banking business segment Customers are
divided into clusters of the Ministry of Finance, Coordinating Ministry for Maritime Affairs and Investment (Marves),
Coordinating Ministry for PMK, Coordinating Ministry for Political, Legal and Security Affairs, Coordinating Ministry
for the Economy, State Agencies/Institutions, Ministry of Education, Culture, Research and Technology, Self-Regulatory
Organization (SRO), SKK Migas Group , Social Insurance and Higher Education which includes Public Service Agencies,
Work Units and Regional Government.
Institutional Banking Customer Profile Parameters
Parameter Customer Profile
Ministries; State institutions; Agencies managed other than at the Head Office level; Education
& Research Institutions (Top 100 Universities/Colleges determined by Dikti Kemendikbudristek);
Institutional Banking
Upstream & Downstream Oil and Gas regulatory institutions; Government-owned Social Security
Providers; Regional Governments with special criteria.
Institutional Banking Competitive Advantage and 4. Supported the growth of domestic/foreign loans to
Innovation the Ministry of Finance, Institutions and Universities.
The Institutional Banking Business involves Liquidity 5. Increased BNI’s Market Share in the APBN ecosystem
Support in the distribution of the APBN, as a Gate Opener for for spending on goods, capital and employees.
acquiring ecosystems and APBN derivative businesses, as 6. Synergized with Govtech to optimize technological
well as an agent of development as a partner of Ministries, solutions as the main door for working on APBN
Institutions and Universities in implementing Government derivative businesses for Ministries, Institutions and
programs. Universities.
7. Maintained good relations and the existence of BNI
The Institutional Banking Segment has digitized state with Ministries, Institutions and Universities as Gate
financial services in its products such as migrating Ministry Openers for Ecosystem Business and APBN Derivatives
current accounts into virtual accounts equipped with a Cash by implementing service and advocacy initiatives.
Management System (CMS), Government Credit Card (KKP), 8. Initiated and acquired business for customers, Pitching
Smart Indonesia Card (KIP), Smart Indonesia Program (PIP), BNI Products, Socialization and increasing BNI Brand
and has provided digital solutions to support Government Awareness.
Programs, the APBN ecosystem and value chains, making 9. When developing the credit card business in the
BNI a partner in daily operational transactions, and playing Institutional Banking (INS) segment, the following
a role in providing advocacy within Ministries, Institutions initiatives were carried out in 2023:
and Universities. a. Encouraged the acceleration of the Indonesian
Credit Card (KKI) acquisition process with Regional
Institutional Banking Segment Strategy for 2023 Government Banks (BPD) through socialization in
To develop the Institutional Banking segment business, in Regional Work Units.
2023 BNI carried out several activities, namely: b. Expanded the acquisition of University Affinity Credit
1. Optimized APBN funds distributed to Ministries, Cards targeting the academic community, alumni
Institutions, Universities and BLU / Working Units. and parents of students, as well as encouraged the
2. Bridged BNI with Ministries, Institutions and Universities use of BNI Credit Cards to pay higher education
to enter the ecosystem originating from the Role Agent costs.
of Development and Gate Opener.
3. Contributed to the success of the Digitalization of
Government Program Aid Distribution and maintained
good relations with Officials and PICs of Ministries,
Institutions and Universities so that distribution ran well.
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PRODUCTIVITY AND PROFITABILITY OF THE INSTITUTIONAL BANKING SEGMENT
Productivity of the Institutional Banking Segment
Increase (Decrease)
2023 2022
Productivity Nominal
IDR-billion IDR-billion Percentage (%)
(IDR-billion)
Total Loans 16,017 13,147 2,870 21.8
Total Third Party Funds 136,146 105,720 30,427 28.8
Giro 51,013 44,909 6,104 13.6
Saving 440 649 (209) (32.2)
Deposit 84,693 60,161 24,531 40.8
Profitability of the Institutional Banking Segment
Increase (Decrease)
2023 2022
Profitability Nominal Percentage
IDR-billion IDR-billion
(IDR-billion) (%)
Interest income - net 1,821 997 824 82.7
Other operating income 119 67 52 77.8
Other operational expenses (906) (2,498) 1,592 (63.7)
Establishment of allowance for
18 (42) 61 (142.4)
impairment losses
Operational profit 1,053 (1,476) 2,529 171.3
Non-net operating income
0 0 - -
(expenses)
Profit before tax expense 1,053 (1,476) 2,529 171.3
The Institutional Banking Segment role in collecting state funds through Ministries, Agencies or College reflected in
the increase in Third Party Funds in 2023 which rose by 28.8% compared to 2022. On the other side, loan disbursement
also increased significantly to 21.8% year on year. This then had an impact by increasing net interest income from
the Institutional Banking Segment to 82.7% in 2023. From the transactional side, other operational income (fee based
income) also increased to 77.8%, which is a positive signal of BNI’s increasing role, especially in encouraging operational
transactions. through Ministries, Agencies or College.
Institutional Banking Segment Prospects, Potential and Strategy for the Coming Year
1. Optimize the APBN as a source of liquidity and becoming the main partner in transactional revenues to Ministries
and Institutions.
2. Optimize the collection of TPF originating from institutional and tertiary institution transactions, receipt of contributions
and payment of tuition fees at tertiary institutions and increasing DHE SDA customer fund accounts.
3. Increase the number of work unit (Satker) acquisitions and support and help in the success of Government programs,
teacher allowances and other allowances.
4. Synergize with Govtech by optimizing technological solutions as an entry point to the financial ecosystem in digital
transaction services for customers of ministries, institutions and universities as well as Government programs to
capture cheap funds and accelerate, oversee and monitor the realization of ongoing Govtech projects.
5. Support financing in the APBN business ecosystem by disbursing domestic / foreign loans to Ministries, Institutions
and Universities as well as monitor the timeline for the realization of pipelines / disbursement of existing loans.
6. Continuously develop people through training to increase capabilities.
7. Synergize with subsidiaries to provide customer solutions, Collaborative support for derivative business execution
(RAM and SAM), namely Branches, Centers and Regions.
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What are they saying
Kunta Wibawa Dasa Nugraha
Secretary General of the Ministry of Health
Thank you to BNI for being an important partner in
distributing Health Operational Assistance (BOK) funds
for Community Health Centers for FiscalYear 2023. BNI
Direct helped the Indonesian Ministry of Health to
speed up and simplify the bureaucracy of distributing
BOK funds to Community Health Centers, increased
accountability for distribution, and made it easier for
central and regional governments to monitor Real-time
Puskesmas BOK transactions. In the future, we hope
that BNI will continue to expand improvements to the
Direct Channel BOK service in 2024
Prof. Dr. Arif Satria, SP, MSi Iman Rachman
Chancellor of IPB University IDX President Director
BNI understands and is committed to providing BNI’s fast cash management services and BNI
high quality, transparent and trustworthy communicative and solution team created an easier
services, and is a strategic partner for IPB transaction process on the Exchange. BNI also
University. With its many modern banking actively supported the IDX capital market literacy
services that offer ideal financial solutions, BNI and inclusion programs within the Company and
continues to innovate and provide quality services throughout Indonesia and is one of the paying
not only for IPB employees and students but for banks at the Indonesian Central Securities
the public, companies, communities and other Depository (KSEI), and a trusted capital market
partners connected with IPB University. investor who manages customer fund accounts.
Thank you for designing products and services to The innovation and sustainable financial
meet our needs and expectations as a customer. transformation strategy instigated by BNI
We hope that in the future the level of customer has continuously improved the Company’s
loyalty, dedication and integrity will increase performance, as reflected in the good performance
along with BNI’s success in the years to come. of BNI shares in the secondary market.
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ENTERPRISES & COMMERCIAL BANKING
Enterprises & Commercial Banking Customer Profile Parameters
Parameter Customer Profile
Companies with Gross Annual Sales (GAS) > IDR300 Million to 1.5 Trillion (including business groups)
and Maximum Loans > IDR150 Million to 500 Million and/or Average TPF > IDR50 Million to 100 Million.
Enterprise Banking
Loans and Funds of Tbk company customers and their groups; Non-Tbk companies and their groups;
Educational Institutions and Foundations.
Companies with Gross Annual Sales (GAS) > IDR30 Million to 300 Million (including business groups)
and Maximum Loans > IDR10 Million to 150 Million and/or Average TPF > IDR10 Million to 50 Million.
Commercial Banking
Loans and Funds of Tbk company customers and their groups; Non-Tbk companies and their groups;
Educational Institutions and Foundations.
Enterprise & Commercial Banking Competitive Enterprise & Commercial Banking Segment
Advantage & Innovation Strategy for 2023
The Enterprise & Commercial Banking segment manages To develop business in Enterprise & Commercial Banking In
the activities of all banking transactions carried out by 2023, BNI will make several efforts, one being through the
Enterprise & Commercial segment customers and their implementation of the New Way of Working (NWOW), which
business groups by providing a comprehensive solution aims to make customer management more focused by
(one stop solution) for customers in meeting their needs distributing management in accordance with predetermined
and managing their financial transactions, including capabilities. Enterprise Banking is directed to specialize in
through superior products such as BNI Mobile banking, BNI the economic sector. while Commercial Banking is directed
Cash Management, BNI Debit/Credit Card, Trade Finance, for geographical control through the establishment of
Insurance and Treasury products by collaborating with Commercial Banking Division 1 to manage the Sumatra
related units. and Jabodetabek areas ,and Commercial Banking Division
2 to manage the Java (non-Jabodetabek) area, Kalimantan,
Enterprise & Commercial Banking offers competitive Bali, Nusa Tenggara, Sulawesi, Maluku, and Papua.
advantages for customers by providing the following:
1. Comprehensive solutions to support customer The Enterprise & Commercial Banking business continues
operations through a variety of asset products. liabilities. to focus on quality growth and continues to improve loan
and transactional according to customer needs through quality, especially in reducing Loan at Risk (LaR) following
channels available at branch offices. business centers, the recovery from the Covid-19 pandemic. This quality
as well as e-channels such as mobile banking and BNI business growth is carried out through strengthening
Direct. pipeline management by developing risk acceptance criteria
2. Strong relationships with anchor clients that open (RAC) to screen high quality customers. Epansion is also
up opportunities for value chain penetration from directed at target markets starting with top tier players
Corporate and Institutional segment customers who in priority sectors in each region, exporters, Corporate
have derivative business potential in the Enterprise & Banking customer value chain/supply chain, as well as
Commercial Banking market segment. other potential customers.
Innovations carried out by the Enterprise & Commercial The general strategies explained above for Enterprise &
Banking segment to improve internal business processes Commercial Banking in 2023 are then translated into action
and provide solutions that answer customer needs, steps (quick wins) as follows:
including: 1. Business Growth
1. Development of economic sector-based risk acceptance a. Penetration of the specified target market.
criteria (RAC) and calibration of customer classification b. Strengthening the classification of prime customers
as Prime customers as an initial assessment of business to formulate management models, solutions and
potential. benefits for customers, and strengthen customer
2. Sustainability Linked Loan (SLL) scheme and special engagement.
team to support a sustainable economy in accordance c. Increase financing for businesses that prioritize
with Environmental, Social. & Governance (ESG) Environmental, Social & Governance (ESG)
principles for Enterprise customers. principles, including product development and
supporting schemes such as Sustainability Linked
Loans (SLL).
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2. CASA & Transactions
a. Structuring and strengthening the fund management and transaction functions of Enterprise & Commercial
Banking customers.
b. Deepening account execution from the family tree and strengthen customer payroll acquisition.
c. Cross-unit collaboration to formulate programs and campaigns to increase customer transactions.
3. Asset Quality
a. Improving pipeline management by developing sector-based risk acceptance criteria (RAC).
b. Sustainable development of employee capabilities and competencies in terms of mastering the economic sector,
including green financing and ESG, advisory capabilities, and improving risk culture.
c. Implementing Single Integrated Monitoring Tools (SIMON) as an early warning tool to monitor customer loan
quality conditions.
ENTERPRISE & COMMERCIAL BANKING SEGMENT PRODUCTIVITY AND PROFITABILITY
Enterprise & Commercial Banking Segment Productivity And Profitability
Increase (Decrease)
2023 2022
Productivity Nominal
IDR-billion IDR-billion Percentage (%)
(IDR-billion)
Total Credit 105,519 112,549 (7,030) (6.2)
Total Third Party Funds 54,701 59,556 (4,856) (8.2)
Giro 38,288 38,502 (214) (0.6)
Savings 3,313 5,349 (2,036) (38.1)
Deposit 13,100 15,705 (2,606) (16.6)
Enterprise & Commercial Banking Segment Profitability
Increase (Decrease)
2023 2022
Profitability Nominal
IDR-billion IDR-billion Percentage (%)
(IDR-billion)
Interest income - net 5,906 5,428 479 8.8
Other operational income 2,097 1,352 746 55.2
Other operational expenses (3,050) (2,166) (883) 40.8
Establishment of allowance for impairment losses (2,555) (1,169) (1,386) 118.6
Operational profit 2,398 3,445 (1,045) (30.4)
Non-net operational income (expenses) - - - -
Profit before tax expense 2,398 3,445 (1,046) (30.4)
The Enterprise & Commercial Banking segment in 2023 recorded a significant increase in revenue in Other Operating
Income, which was supported by optimal recovery efforts for low quality assets as well as an increase in Fee-Based
Income which reflects strengthening penetration of BNI transactional products among Enterprise & Commercial Banking
Customers. The increase in CKPN Expenses by 118.6% YoY is a prudent step for the bank to anticipate future debtor
conditions in line with the Expected Credit Loss (ECL) concept.
Enterprise & Commercial Banking Business Prospects for 2024
Enterprise & Commercial Banking in 2024 will strengthen quality and sustainable business growth with its main focus
as follows:
1. Explore the business potential of the target market, determined based on the priority sectors and value chain of
Corporate Banking customers, including sustainable economic sectors in line with strengthening the ESG portfolio.
2. Implement initiatives for quality business growth by digitizing loan monitoring & processes through RMTools (Connect).
Single Integrated MonitoringTools (SIMON). and end-to-end loan tools and initiatives in the 2024-2028 Corporate Plan.
Enterprise & Commercial Banking Work Plan for 2024
Enterprise & Commercial Banking is optimistic it will record its best results in 2024 through its comprehensive work
plans and strategies in line with the aspirations in the 2024-2028 Corporate Plan, which are as follows.
1. Quality & Sustainable Business Growth
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a. Increase loans & number of quality customers through execution of top 10 target markets.
b. Optimize leads from the value chain ecosystem and diamond client partners and build leads management to
expand the customer base including suppliers and buyers, both debtors and demand deposits.
c. Optimize export leads for global markets.
d. Implement end-to-end loan tools to accelerate and digitize business processes as well as improve loan underwriting
& monitoring.
e. Improve RM Tools (Connect) to enable 360° view of customers to provide the ability for relationship managers to
see customers’ business potential comprehensively (360° view).
f. Increase ESG-based portfolios through major players in ESG-based industries in each region.
g. Optimize product penetration into the customer ecosystem, through decentralizing corporate card submissions
to the Commercial Business Center.
2. Increase Funds & Transactions
a. Focus on sustainable growth of low-cost funds by increasing the number of account executions & increasing
funds sourced from customer family trees.
b. Encouragecustomer financial activities through cash management as a transaction solution.
c. Collaborate with the Transaction Banking unit to improve customer transaction platforms to answer future needs.
3. Increase Customer Management Capabilities & Competencies
a. Build a high performance focused culture (high performance team) for RM Transactions and Lending to produce
high business performance.
b. Develop RM Lending & Funding as a business advisor that provides total solutions for customers’ business needs.
c. Develop technical & analytical skills by organizing industrial analysis training through in-class and on-the-spot
learning programs.
d. Develop leadership abilities and team potential through coaching and mentoring programs.
What are they saying
Ir. H. Arfan Awaloeddin, MARS
Denni Andri President Director of PT Makassar Global Bros
President Commissioner Taka Geodrill Indonesia
One of the BNI service products that we use is
BNI and Taka Group have partnered since 2007, by BNI Direct, a digital financial platform for Cash
providing investment loan facilities. We really feel Management services that supports financial
that BNI has the ability to understand, comprehend transaction activities and provides transaction
and deepen the very unique nature of our business. information recorded in Company accounts more
BNI’s reliability in providing financial services and quickly, easily and safely.
advice proves that the business relationship built is
not a relationship between lenders and borrowers The BNI Direct that we currently use has a number
but is based on the principle of equality as business of benefits and advantages, including:
partners who support each other.
1. Service availability can be accessed anytime and
Complete and reliable financial solutions were anywhere in real time;
provided by BNI to the Taka Group including providing 2. Comfort and ease in transactions with complete
loan facilities for working capital and investment transaction support features;
financing, Bank Guarantee and L/C Issuance 3. Security in transactions with flexible user authority
services, use of BNI Direct for Taka Group operational sharing features according to needs and equipped
transactions, foreign exchange transaction services, with hard tokens (BNI e-Secure) or soft tokens
convenient BNI Griya application for employees as (mobile tokens) for transaction authorization;
well as BNI Corporate Card services to facilitate 4. Can be accessed via various channels such as the
operational activities. web and mobile apps
Our hope is that in the future, BNI will remain BNI Direct is a complete and safe Cash Management
our main strategic partner in the financial sector, service that supports our company’s financial
supporting the growth and development of the Taka transaction activities more quickly, easily and
Group business both at home and abroad. efficiently.
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KPH. Arya Hidayat Adisena S.H, M.H. Sheren Omega
President Director PT SHA Solo Head of Sustainability PT Gunung Raja Paksi
The BNI Distributor Financing Facility helps PT SHA I express my appreciation and sincere thanks to Bank
Solo in performinh transactions as a partner of PT Negara Indonesia (BNI) as Head of Sustainability
Pertamina Patra Niaga using a financing scheme that at GRP. In our joint efforts for sustainability, BNI
suits the company’s needs. Distributor Financing has been a steadfast partner, playing a critical
provides benefits in the form of working capital role in advancing our environmental and social
flexibility and speed of the DO redemption payment responsibility initiatives.
process so that it can optimize profit generation and
increase the company’s bargaining power. The main Their proactive engagement and innovative solutions
advantage of the BNI Distributor Financing facility not only help us achieve our sustainability goals
is that we feel has competitive rates, supported by but also underscore their own commitment to
fast transaction services, easy requirements and corporate responsibility. Their understanding of the
security guarantees. importance of integrating environmental, social and
good governance considerations is in line with our
With the DF facilities, PT Pertamina Patra Niaga’s organizational ethos. This alignment enables us to
trust as a supplier increased due to the certainty of implement impactful initiatives and set standards
timely payment, and this has a direct impact on the for responsible business practices.
potential to increase PT SHA Solo’s sales volume
and supports good relations between PT SHA Solo We look forward to continuing this mutually
and PT Pertamina Patra Niaga. constructive journey towards a more sustainable
and responsible future.
We hope that in the future BNI can grow in line
with the business development of PT SHA Solo and
remain the main banking partner of PT SHA Solo.
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RETAIL BANKING
Retail Banking Customer Profile Parameters
Parameter Customer Profile
Individual and non-individual customers with Gross Annual Sales (GAS) up to IDR30 billion (including
Retail Productive
business groups) and maximum loan up to IDR10 billion and/or average TPF up to IDR10 billion.
Individual and non-individual customers who have program loans (KUR) and other loans with a
Business Program
maximum loan of up to IDR1 billion.
Wealth Management Individual customers with Asset Under Management (AUM)> IDR1 billion.
Consumer Banking Individual customers with Asset Under Management (AUM) to IDR1 billion.
BNI retail banking is a business activity that provides Furthermore, BNI is committed to encouraging the growth
integrated solutions for retail customers’ needs including of MSMEs in Indonesia and continues to innovate, offering
managing productive retail loans, consumer loans, third- fast and easy services for MSME partners through digitizing
party funds, transaction services and other financial loan processing based on the BNI Move application (BNI
solutions. Retail Banking includes the following segments: Mobile Innovation for SME) and supporting MSMEs to go
1. Consumer Banking, a segment that manages individual global through BNI Xpora which offers convenience for
customers with AUM (Asset Under Management) up export-oriented MSMEs.
to IDR1 billion by offering savings, deposits, consumer
loan products and services, and banking transactions BNI also continues to increase the value proposition
management. of products through product and service innovations,
2. Business Program, a segment responsible for managing transformation and acceleration of the end-to-end credit
business related to Government programs and process, as well as operational standards improvements.
productive loans up to IDR1 billion. Product bundling innovations focus on targeting the
3. Retail Productive banking, a segment that manages affluent, upper mass, mass customer segments, as
productive loans and non-individual third party funds well as payroll-based businesses, business owners and
up to IDR10 billion. professionals, to increase customer satisfaction and expand
4. Wealth Management, is a segment that manages high a quality customer base to produce low cost funding from
net worth individual (HNWI) customers with managed customer transactions.
funds starting from IDR1 billion and above through
excellent customer service which includes managing Retail Banking Strategy in 2023
customer fund portfolios through banking, investment
and insurance products. Some of the strategic focuses implemented in 2023 were
as follows:
Retail Competitive Advantage and Innovation 1. Increased CASA sustainability and FBI through
Banking as a superior and trusted bank in Indonesia, BNI transactional banking.
offers easy financial solution services for customers, both 2. Strengthened integrated business solutions (loans,
through innovative digital channels and through a network transactions, increasing business capabilities and
of outlets throughout Indonesia, as well as branch services expanding market access) to support export-oriented
overseas, offering easy transactions for customers. MSMEs through BNI Xpora.
3. Quality business expansion by focusing on target
With a solid corporate business portfolio, BNI has a markets according to regional potential and focusing
competitive advantage in exploiting the ecosystem and on expansion on selected partners for consumer loans.
business potential of customers in the wholesale segment. 4. Digitalized end-to-end loan processes to strengthen risk
This is one of the driving forces behind the growth in the management and increase quality expansion.
retail banking business. 5. Cultivated the business ecosystem and value chain of
corporate customers, especially diamond clients.
6. Optimized cooperation with strategic partners and
merchants to increase credit card acceptance..
7. Development, product innovation and service to provide
benefits and transactions convenience and security for
customers.
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PRODUCTIVITY AND PROFITABILITY OF THE RETAIL BANKING SEGMENT
Retail Banking Segment Productivity
Increase (Decrease)
2023 2022
Productivity Nominal
IDR-billion IDR-billion Percentage (%)
(IDR-billion)
Total Credit 213,235 206,715 6,520 3.2
Total Third Party Funds 357,213 343,212 14,001 4.1
Giro 55,914 42,531 13,383 31.5
Savings 226,180 228,838 (2,658) (1.2)
Deposit 75,119 71,843 3,276 4.6
Retail Banking Segment Profitability
Increase (Decrease)
2023 2022
Profitability Nominal
IDR-billion IDR-billion Percentage (%)
(IDR-billion)
Interest income - net 20,114 20,622 (509) (2.5)
Other operational income 9,890 9,183 707 7.7
Other operational expenses (13,587) (12,917) (670) 5.2
Establishment of allowance for
(6,523) (4,683) (1,840) 39.3
impairment losses
Operational profit 9,894 12,206 (2,312) (18.9)
Non-net operational income
- - - -
(expenses)
Profit before tax expense 9,894 12,206 (2,312) (18.9)
In 2023, the Retail Banking segment managed to record growth in credit and third party funds of 3.2% and 4.1% respectively
compared to the same position in 2022. This growth in third party funds was driven by the increase in current account
products to 31,5% in 2023, this is in line with the bank’s strategy to encourage maximization of transactional banking by
utilizing the value chain potential of wholesale customers which has an impact on increasing other operational income
by 7.7%.
Small Business Program & Retail Productive Banking
Is a segment that manages small loans and non -individual third party funds up to IDR10 billion. This segment offers
ease of financing access and ease of transactions for businesses.
Financing services include working capital loans, investment loans, supply chain financing and transactional working
capital loans in accordance with customer needs. In addition, BNI offers cashless transactions to businesses through
digital channels such as Mobile Banking, QRIS, EDC, and BNI Direct.
To maximize the potential of MSME Go Global, BNI presnts BNI Xpora, an integrated solution through the Xpora digital
platform, with increased MSME capabilities.
Business Program Performance & Retail Productive Banking
Increase (Decrease)
2023 2022
IDR-billion IDR-billion Nominal
Percentage (%)
(IDR-billion)
Total Loans 85,129 99,026 (13,897) (14.0%)
Third Party Funds 80,250 63,866 16,384 25.7%
Fee Based Income 768 765 3 0.4%
In 2023, small credit decreased by 14.0%. On the other hand, segment TPF grew positively by 25.7%, driven by growth
in Current Accounts. As a form of support for government programs, BNI has succeeded in distributing KUR amounting
to IDR17.8 trillion throughout 2023.
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Consumer Retail Banking 1. Savings Products
The consumer retail segment manages individual a. Tabungan Plus (Taplus), is a savings account that
customers in the affluent, upper mass and mass categories provides PLUS services with various features and
that are differentiated based on the management of AUM benefits;
up to IDR1 billion. The customer business strategy focus b. Taplus Bisnis, is a savings product intended for
in the consumer retail segment is based on the payroll business actors and non-business actors, both
business, professionals and business owners to selectively individuals and non-individuals, which is equipped
target solution-based financial transaction needs. These with features and facilities that provide convenience
transaction needs are packaged in a profitable bundling and flexibility in supporting business ventures;
package to create close loop transactions for all customers’ c. TAPPA (Taplus Employees/Members), is a savings
financial activities. intended for employees/members of acompany/
institution/association/professional organization that
The consumer retail segment offers a wide range of financial collaborates with BNI which functions as a means
solutions for customers both through easy access to and of savings, employee/member identity cards;
financial services to facilitate customer transactions, as d. Taplus Muda, is a savings product in the form
follows: of savings intended for young people with ages
ranging from 17 (seventeen) years to 35 (thirty five)
1. Home Ownership Credit – BNI Griya years;
BNI Griya is a credit facility aimed at individuals for e. Taplus Anak, is a savings product to help teach
the needs of owning residential houses, apartments, children to save from an early age, intended for
shophouses and holiday homes (villas) for purchasing children under 17 (seventeen) years of age;
plots/land, construction, renovation, refinancing, take f. Tapenas, is a term savings to help financial planning
over and top up. to realize future goals with more certainty through
2. Unsecured Credit – BNI Flexi a monthly autodebit feature with higher fund
BNI Fleksi is a BNI Unsecured Credit product available development than regular savings.
to active employees and retirees who channel their 2. Current Account Products
income, payments and retirement benefits through BNI. The consumer segment offers Individual Giro products
3. BNI Instant to its customers as escrow and transactional accounts.
BNI Instan is a credit product guaranteed by Deposits, Together with other products, Individual Giro is
Savings, BNI Current Accounts and Government offered to consumer segment customers in the form
Securities (SBN) which can be traded. of a bundling package together with other consumer
4. Credit Card products. The focus of the offer is aimed at Business
Credit cards are a consumer loan product as a means of Owner customers as an effort to work on the cash-to-
payment using cards or virtual cards which can be used cash business cycle from upstream to downstream so
by individuals and corporations to make payments for as to create a one-stop-solution for Business Owner
obligations that arise, such as shopping transactions customers’ finances.
and/or cash withdrawals. 3. Deposit Products
BNI Deposito is a term savings in various currencies(IDR/
To manage customer deposits or TPF, BNI has a variety of USD/SGD/JPY/HKD/EUR/GBP/AUD) with attractive
savings products to meet the needs of all customers, which interest rates. BNI Deposito can be an investment choice
include savings, current accounts and deposit products. for customers who want relatively higher returns.
Consumer Retail Banking Performance
Increase (Decrease)
2023 2022
IDR-billion IDR-billion Nominal
Percentage (%)
(IDR-billion)
Total Loans 122,510 103,430 19,080 18.4
Third Party Funds 164,678 151,460 13,218 8.7
Fee Based Income 6,236 5,793 443 7.6
Consumer segment credit grew by 18.4% in 2023, driven by the growth of Griya and Fleksi. This is in line with the
strategy to increase quality credit which is focused on selected product partners. Meanwhile TPF grew 8.7% YOY and
FBI grew 7.6% YOY.
Several initiatives to drive consumer business business include increasing customer transactions through e-channel,
usage increase program at selected merchants, bundling package offerings for customers, as well as event activation
to increase product awareness.
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Wealth Banking
The consumer retail segment business focus is carried out through acquisitions, retention and cross selling strategies
for affluent, upper mass and mass customers to facilitate specific product solutios offerings based on customer needs.
Accelerating customer acquisition strategies with a focus on business owners, payroll and professionals is also carried
out to encourage consumer business. The strategic activities and initiatives include increasing customer transactions via
e-channel, programs to increase usage at selected merchants, increasing the value proposition of consumer products,
offering bundling packages for customers, as well as activation events to increase product awareness.
The Wealth Management business provides comprehensive services that focus on overall customer wealth management,
including investment management and financial planning services aimed at High Net Worth Individual (HNWI) customers.
Wealth Management customers are classified into two segments based on total asset placement (AUM), namely BNI
Emerald for individual customers who have a minimum total asset placement of IDR1 billion and BNI Private Banking
for individual customers who have a minimum total asset placement of IDR15 billion.
BNI Wealth Management synergizes with BNI Group and Top Tier Investment Managers in Indonesia in providing
comprehensive Wealth products including: Mutual Funds, Bonds, Treasury Products and Bancassurance.
Wealth Management Segment Performance
Increase (Decrease)
2023 2022
IDR-billion IDR-billion Nominal
Percentage (%)
(IDR-billion)
AUM 181,222 177,510 3,712 2.1%
Net Interest Income 2,842 2,129 713 33.5%
FBI Investasi 269,4 240,1 29,3 12.2%
In 2023 assets under management (AUM) grew by 2.1%, this 2. Encouraging global business growth in the small
increase was driven by growth in Bond AUM of 34.6%.This segment through the Xpora program, namely, attracting
increase in AUM encouraged Net Interest Income growth export-oriented customers both as direct and indirect
of 33.5% and FBI Investment growth of 12.2%. exporters.This includes encouraging the integration of
digital-based MSME businesses through the use of the
Retail Banking Business Prospects for 2024 Xpora program related to providing financing needs,
Indonesia’s economic prospects are considered to remain financial transactions, increasing MSME capabilities
positive in 2024, as the global economic challenges are and facilitating market access;
expected to continue to slow. The strong growth of the 3. Improving credit quality through improving the
middle class, followed by the development of digitalization, underwriting process and improving risk culture;
are driving the increase in the digital savvy and e-commerce 4. Increasing the productivity of marketers through
generation in Indonesia. This is an opportunity for retail upscaling the capabilities of marketers and improving
banking segment to continue to grow its customer base. supporting tools;
5. Working on the potential of derivative businesses and
To capture this opportunity, retail banking is strengthening business ecosystems from wholesale customers;
digital capabilities, offering easy transactions, reliable 6. Penetration of consumer credit primarily in selected
financial solution services and fast access to financing partners and collaboration with subsidiary companies;
for customers. 7. Exploit business potential through collaboration with
third parties, such as e-commerce and fintech;
In addition, offering product bundling packages according 8. Accelerate acquisition activities focused on customer
to customer needs is carried out for target prospects in the segment categories and focus on payroll businesses,
retail banking segment as an effort to provide a one-stop business owners and professionals by offering specific
solution to customers. product solutions and increasing the quality customer
base;
Retail Banking Work Plan for 2024 9. Bundling packages through a customer centric approach
By paying attention to the work program implemented in and offering all in one packages according to customer
2023, Retail Banking is sharpening its strategy and work needs;
plan for 2024 as follows: 10. Increased credit card acquisition via digitalacquisition.
1. Strengthening digital capabilities to improve customer
experience through the development of innovative
e-channels;
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What are they saying
Rusyda Deli Kusmana Supianto Arby
Partnership Director (Yayasan Dunia Lingkungan Owner of PT Tropica Primanusa BNI Agen46 Tanjung Balai Asahan
Hidup Indonesia) (WWF Indonesia)
The experience of doing transacions when overseas Owning a handcrafts and home decor business that “I used to work in insurance, and when I was
with the Affinity BNI WWF credit card was really easy. exports to many countries in Europe, Australia, Japan introduced to Agen46, I became increasingly
I used it for paying for taxis, trains, and shopping. And and America, my cash flow has been really helped, as interested in choosing them to advance my business
what was encouraging is that the design of this card it’s easy to use. After I receive a PO (Purchase Order) with Agen46. “Because the people of Sinikan didn’t
attracted a lot of attention with quite a few people from a buyer, I submit it to BNI and can receive a 70% know that you can even do banking transactions with
asking about the special features of this card. I can funding from the PO value. When there is payment Agen46,” he said. The residents are happy, because
promote Indonesia with its biological riches and from the buyer, it is immediately used to pay the they no longer need to queue up at the bank or ATM.
what is certain is that it feels meaningful, as there is loan installments. So it has helped us with early Because at the ATM you have to press buttons that
feeling of goodness behind every transaction made. funding for the production process so my cash flow confuses you. So yes, if you want to send money, buy
The BNI WWF Affinity card is truly a card for change, is smooth and productivity levels have increased. credit, or pay bills, they come to our shop,” he said.
a hope for nature. Thumbs up to BNI.
Sari Wahyuni Muh. Thoyib, ST., MT.
(CEO of Sweet Shabrina) CEO of CV Indigo Biru Baru
Sweet Shabrina is a business that operates in As a business operating in the sustainable fashion &
the field of environmentally friendly fashion & textile sector, easy access to financing and marketing
textiles using ecoprints that use natural materials. facilities is important for our business continuity. By
Sweet Shabrina uses piles of leaves as a source of using the KUR business capital (People’s Business
inspiration to create unique art. Apart from that, in Loans) provided by BNI, I had the opportunity to
its business process, Sweet Shabrina also involves increase production volume, offer competitive prices
women and marginalized groups, which gives them and make more profits. The benefits I recieve are not
with additional skills. only from a financial perspective, but also from a
product marketing perspective. Thanks to BNI, my
BNI provides financing through People’s Business products are now better known by the people in
Loans (KUR), which can be used to increase Jakarta and I have potential buyers thanks to my
production capital to produce products with a higher participation in BNI Bazaar Fest vol. 2 in 2023.
selling value. Sweet Shabrina produces Go Green
products by following the objectives of the BUMI
Program (BNI UMKM Environmentally Friendly).
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TREASURY • The interest rate refers to the interbank interest
rate;
Treasury Segment Activities • Can be withdrawn at any time;
In theTreasury segment, BNI provides investment solutions • Minimum placement is IDR1 billion or USD 100
while still prioritizing customer needs and risk types thousand.
and offers the best banking products. Treasury business c. Retail Bonds
activities include foreign exchange (forex), money market, Bonds are proof of debt from the issuer which will
fixed income and derivative transactions. BNI Treasury be repaid at maturity in accordance with previously
is spread accross Indonesia through head offices and determined conditions and conditions. Bond
regional offices (Treasury Regional Areas) in major cities transactions that can be carried out between the
in Indonesia, namely Medan, Batam, Palembang, Bandung, Treasury Division and Individual Customers include
Semarang, Solo, Surabaya, Denpasar, Balikpapan, Manado the following transactions:
and Makassar. Currently BNI also provides web-based • The primary market including corporate bonds
digital transaction solutions through BNIFX and through the and non-retail Government bonds;
BNI Mobile Banking application (Mobile FX and Secondary • The secondary market including corporate bonds,
Bond Investment Features). Government retail bonds, bonds;
• Non-retail Government and Government bonds
Variety of Treasury Products and Services of other countries.
BNI Treasury products are classified into Transactional d. Depo Swap
products, Investment products and Hedging products. Depo Swap is an investment product in foreign
currency with a maximum rate of return and 100%
1. Transactional guaranteed investment principal. Depo Swap is a
These transactional products consist of Forex-TOD, combination of forex transactions in the form of FX
ForexTOM, Forex-SPOT, and Forex-Bank Notes. Details Swap and deposits. In this transaction, the customer
related to transactional products are described as exchanges their foreign currency with another
follows: foreign currency and at the same time exchanges
a. Forex – TOD the foreign currency back in the future at the tenor
Buying and selling foreign exchange where the and exchange rate determined at the beginning
transaction agreement and transaction settlement of the transaction agreement. The exchange rate
are carried out on the same day. gain on foreign currency exchange transactions
b. Forex – TOM (forex gain) is an optimal return on the customer’s
Sale and purchase of foreign currency where investment in placing funds.
transaction settlement is carried out 1 (one) working e. Market Linked-Dual Currency Investment (ML-DCI)
day after the transaction agreement date. ML-DCI is a structured product, a combination of
c. Forex – SPOT foreign currency savings products and FX Options.
Sale and purchase of foreign currency where This product provides high returns when compared
transaction settlement is carried out 2 (two) working to conventional savings products as it combines
days after the transaction agreement date. savings products with a view of exchange rate
d. Forex – Bank Notes movements. This product has the characteristic of
Transactions involving the exchange of physical being non-capital protected/does not guarantee the
ownership of the currency (banknotes) involved in investment principal.
the transaction.
2. Investment 3. Hedging
Treasury investment products consist of Deposit on Call a. Forward Currency
(DOC), Money Market Account (MMA), and retail bonds. Buying and selling foreign currency where the
Details related to investment products are described transaction settlement is carried out more than 2
as follows: (two) working days after the transaction date. The
a. Deposit on Call (DOC) exchange rate used in this forward transaction takes
• Fund placement period is a minimum of 3 (three) into account forward points.
days up to 30 (thirty) days; • Domestic Non-Deliverable Forward (DNDF)
• The interest rate refers to the interbank interest Standard (plain vanilla) foreign currency
rate; derivative transactions against the rupiah in
• Can be withdrawn at any time; the form of forward transactions with a fixing
• Minimum placement is IDR100 million or USD mechanism carried out in the domestic market.
75 thousand. The fixing mechanism is a transaction settlement
b. Money Market Account (MMA) mechanism without movement of principal funds
• Fund placement for a minimum period of 1 (one) by calculating the difference between the forward
day up to 1 (one) year; transaction rate and the reference rate on a certain
date specified in the contract (fixing date).
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2023 Management Company Management Discussion and Business Support
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• PAR Forward Treasury Competitive Advantage and Innovations
Par Forward is a derivative contract to carry out a BNI Treasury is one of the main players in the market in
series of sales/purchases of a currency (reference Indonesia, with good performance demonstrated by the
currency) against another currency (non-reference awards received throughout 2023, namely: Conventional
currency) in a period, where the settlement/ Bank Supporting Innovation in Best Rupiah Monetary
delivery of funds (settlement) is carried out in Operations from Bank Indonesia, First Runner Up as The
more than 2 (two) working days after the date of Most Improved Volume (Matching) 2022 LSEG,The Best FX
the transaction agreement (trade date). Bank for Structured Products:TreasuryYield Enhancements,
b. Currency Swap The Best FX Bank for Structured Hedging Solutions and
‘Buy and sell’ or ‘buy and sell’ transactions of a Proprietary Trading Ideas by Alpha Southeast Asia, The
currency against another currency carried out Best Corporate Treasury Sales and Structuring Team,
(simultaneously) at the same time with the same and BNI Treasury also won an award as one of the Main
counterparty (customer). Dealers of Government Debt Securities (SUN) with the
c. Currency Option best performance in 2023 from the Republic of Indonesia
An agreement to give the right and not the obligation Ministry of Finance.
of the seller (option writer) to the buyer (option
holder) to buy or sell a certain nominal amount of As a commitment to providing the best service to customers
currency for the future at a predetermined price in the era of digitalization, in 2023 Treasury BNI launched
(strike price) at or before a certain time (expiry date). new features in BNI Mobile Banking, namely FX Mobile as
d. Interest Rate Swap (IRS) a means to make it easier for customers to carry out foreign
An agreement between two parties to exchange a exchange transactions and DigiBond as secondary bond
series of fixed interest payments (fixed rate) in one transactions.These two features, which will be launched in
currency with a series or series of fluctuating interest 2023, will make it easier for customers to transact foreign
payments (variable rate) in the same currency (or currency and bonds using BNI Mobile Banking.
vice versa), without exchanging the loan principal.
e. Overnight Index Swap (OIS) For treasury transactions, BNI always follows regulatory
OIS is an interest rate derivative product, namely a provisions from the Regulator, and is actively involved
contract/agreement between 2 parties to exchange in developing market deepening, including as a Bank
interest rate flows in Rupiah periodically during a Indonesia Agent in carrying out monetary operations
certain contract period, which is calculated using for market stability, and as a BNI Main Dealer actively is
a daily interest basis (Daily Compounding). The involved in the issuance of primary market bonds for SBN
transaction scheme is the same as the Interest Rate and SBSN. carried out by the Government.
Swap (IRS), but the method for calculating interest
is daily compounding with the overnight reference Treasury Segment Strategy in 2023
interest rate. To develop the Treasury segment business in 2023 BNI
f. Cross Currency Swap (CCS) carried out the following:
An agreement between two parties to exchange 1. Financial Strategy
loan principal and interest payments in a different a. Managed rupiah and foreign exchange liquidity
currency. The exchange of loan principal uses the so that it is always in an efficient and profitable
exchange rate at the start of the transaction. position.
g. Call Spread Option (CSO) b. Optimized excess liquidity on instruments that
Call Spread Option is a Structured Product with a provide the best return (yield) while still paying
combination of 2 (two) Currency Option transactions, attention to daily liquidity conditions and financial
namely Buy Call Option (purchase of the right to buy market conditions.
a certain currency) and Sell Call Option (sale of the c. Increased the securities portfolio and forex trading
right to buy a certain currency), with nominal and book with measurable risks, both through the
term the same transaction time but with different Primary Market and Secondary Market.
strike prices for each Buy Call Option and Sell Call d. Optimized the banking book securities and NOP
Option. positions management by taking into account
• Series Of Call Spread liquidity needs, customer needs, existing ratios,
Series of CSO is a contract for a series of call as well as domestic and global financial market
spread options within a period. conditions.
e. Optimized hedging product management to
support increased hedging solution services to
customers, increase FBI, and support financial
market deepening.
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2. Non-Financial Strategy as a one stop solution for customer needs as well
a. Increased synergy in related business units, as increasing cross selling and market share of
including Corporate Banking, Institutional Banking, customer flow.
Syndication & Corporate Solution, International, e. Became a treasury expert in providing knowledge
Regional and Branch Offices to acquire top tier and enhancement literacy on treasury products to
diamond customers. internal and external parties, including being a
b. Proactively provided education and offered hedging resource person and regulatory partner in the
products to customers so they can choose the context of financial market deepening.
right hedging solution according to their business
characteristics and risk appetite for FX and Bonds 3. Learning and Growth
products (Bond Forward and Bond Option) a. Developed the competency and capability of
c. Integrated Treasury products and services Marketers / RM / Front Liners in business units
(BNIFX, Secondary Market Bond Transactions, / Regional / Branch Offices related to Treasury
Forex Transactions, Multi Currency Accounts, products as a one stop solution for customer needs
BNI Digihedge, and FX Mobile) into BNI’s Digital as well as increasing cross selling and market share
Channels (BNI Direct and BNI Mobile Banking) to of customer flow.
increase customer convenience in accessing and b. Became a treasury expert in providing knowledge
carrying out Treasury transaction products. enhancement literacy on treasury products to
d. Developed the competency and capability of internal and external parties, including being a
Marketers / RM / Front Liners in business units / resource person and regulatory partner in the
Regional / Branch Offices related toTreasury products context of financial market deepening.
Treasury Segment Productivity, Operational and Business Performance
Fee Based Income Treasury
Increase (Decrease)
2022-2023
2023 2022
Fee Based Income
IDR-billion IDR-billion Nominal
Percentage (%)
(IDR-billion)
Marketable Securities Related 1,217 1,589 (372) (23.4)
FX Related 1,020 1,594 (574) (36.0)
Total Fee Based Income 2,237 3,183 (946) (29.7)
Achievements in 2023 were mainly due to market volatility, tensions, supply chain disruptions and political years in
both global and domestic, as well as interest rate policies Indonesia and the US, which are events that can provide
from the World Central Bank.TheTreasury business segment volatility in the market.
focuses on serving customer transaction needs, especially
Forex Related and Marketable Securities transactions. In Despite the dynamic global economic issues, Indonesia’s
line with this, in 2023 customer transaction volume grew macroeconomic conditions are still considered optimistic.
by 10% YoY. Indonesia’s Gross Domestic Product (GDP) is projected by
the World Bank at 4.90%, and by the International Monetary
Prospects and Potential Fund (IMF) at 5.00%, and by the Organization for Economic
Co-operation and Development (OECD) at 5.20%. Also,
Projections for global and domestic financial markets in Bank Indonesia projects that Indonesia’s inflation rate at
2024 are a mix of optimism and slowdown. While many 2.8% is still within the target of maintaining the inflation
economists anticipate economic headwinds, with slower rate in the range of 2.5 plus or minus 1 percent.In terms of
growth and potential recession in some countries, they capital inflow, from November to December 2023 foreign
also see opportunities for investors. investors began to re-enter the Indonesian bond market
with a net capital inflow of IDR31.67 trillion, andYtD in 2023
It is estimated that world central banks will still play an recorded a net capital inflow of IDR9.86 trillion. The hope
important role in future market movements.This is reflected is that this will continuethroughout 2024.
in market expectations regarding the Central Banks’
monetary policies, which are expects to start reducing With projected market conditions throughout 2024, BNI
interest rates in 2024, in line with the decreasing inflation Treasury is optimistic that it will strengthen quality and
trend. Also there are uncertainties such as geopolitical sustainable business growth with the strategies that have
been determined.
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Treasury Segment Strategy for the Coming Year 6. Increase customer engagement, especially potential
The Treasury Division’s mission is to maintain healthy customers, through customer loyalty programs, sharing
liquidity conditions and create strong capital and provide sessions/customer gatherings/workshops related to
maximum profit by conducting a superior treasury business Treasury products to increase the market share of
as an active player in domestic and international markets. Treasury transactions.
7. Determine an effective & efficient marketing program
To support next year’s achievements, theTreasury segment strategy through above/below the line marketing in
development strategies for 2024 will be as follows: line with customer criteria and aggressive marketing of
digitalTreasury products to increase the volume of forex,
Financial Strategy derivative and bond transactions from customer flow.
1. Manage rupiah and foreign exchange liquidity so that
it is remains in an efficient and profitable position. What are they saying
2. Optimize excess liquidity on instruments that provide
the best return (yield) while still paying attention to daily
liquidity conditions and financial market conditions.
3. Increase the securities portfolio and forex trading book
with measurable risks, through both the Primary Market
and Secondary Market.
4. Optimize the banking book securities and NOP positions
management by taking into account liquidity needs,
customer needs, existing ratios, as well as domestic Rudy Lumingkewas
President Director of PT Lion Mentari Airlines
and global financial market conditions. (Lion Air)
5. Optimize the hedging product management to support
increased hedging solution services to customers, “Thank you for the support and BNI Treasury
increase FBI, and support financial market deepening. transaction services in supporting the foreign
exchange transaction needs of all Lion Group entities.
Our operational activities were fulfilled very well and
optimally thanks to the services provided by the BNI
Non-Financial Strategy Treasury Team. We hope that the collaboration that
1. Develop/migrate the Treasury Management System has been established so far will continue to grow
and develop. “Always success for BNI.”
(TMS) to support a more optimal Treasury business
2. Increase synergy with related business units, including
Corporate Banking, Institutional Banking, Syndication &
Corporate Solution, International, and Regions/Branches
to acquire top tier and diamond customers, including
through regional sales.
3. Proactively providing education and offering hedging
products to customers to help them choose the right
hedging solution based on their business characteristics
and risk appetite for FX and Bonds products (Bond
forward and Bond Option)
4. Develop the competency and capability of Marketers
Hardian Dendar Dinata
/ RM / Front liners in business units / Regional Offices Funding Manager of Perum Bulog
/ Branches related to Treasury products as a one stop
solution for customer needs, as well as increasing cross
selling and market share of customer flow. “Thank you, BNI Treasury team, for providing a
solution to Perum BULOG’s foreign exchange needs
5. Become a treasury expert in providing knowledge at competitive prices to support Perum BULOG’s
import activities, and indirectly the BNI Treasury Team
enhancement literacy on treasury products to internal also supports Indonesian Food Security. We hope
and external parties, including being a resource person that in the future this synergy and cooperation will
become closer and provide more added value both
and regulatory partner in the context of financial market for the company and for the nation and state. Amen.”
deepening.
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What are they saying What are they saying
Venny
Financial Controller Hadi Soebagio
of PT Virtue Dragon Nickel Industry Finance Manager of PT Gudang Garam
“BNI always provides excellent service and is a
solution, informative and educational partner in “Support from the BNI Treasury team is already
supporting our company’s business needs. BNI also adequate, with exchange rates and ease of
plays a full part in our business journey, especially transactions supported by technology services
Treasury transactional services, so we are very integrated with BNI Direct. “Hopefully the close
grateful to the entire BNI team. “The hope is that BNI collaboration can be further improved in line with
can continue to progress, grow and always develop the service and support of the BNI Treasury team.”
in service and performance.”
Ade Yusmawan Novianto
Indra Prabowo
Finance & Accounting Manager of
Vice President Treasury Management
PT Huadi Nickel - Alloy Indonesia
of PT GMF Aeroasia
“Thank you to the BNI Treasury team for facilitating
“Thank you for your synergy and cooperation in Huadi Group in its forex transactions. We are
meeting all of PT GMF Aeroasia’s Treasury transaction helped by the Bank actively providing indicative
needs. Providing competitive foreign exchange rates rate information every morning, along with the
and good service has helped us accommodate all exchange rate given to Huadi Group which is quite
operational transactions very optimally. “We hope competitive. We hope that this good cooperation can
that BNI will always be a business partner of PT continue. BNI can offer a (much) better exchange rate,
GMF Aeroasia to achieve continued success together especially with regard to the CCC DHE SDA CNY rate
in the future.” which is at least the same as your sister bank. Bearing
in mind that currently > 80% of Huadi Group’s daily/
operational transactions are channeled through BNI.
Thank you BNI, I hope you will always be enthusiastic
about serving the country and can become the
nation’s pride.”
Mr. Jayanthilal Vallamjee Tank
Chief Financial Officer
Borneo Prima Group
“We always have full support from the treasury
team throughout 2023 for the needs of the Borneo
Prima company. The BNI Treasury team is always
proactive in providing solutions to optimize the use
of funds, especially regarding compliance with DHE
SDA provisions.
For forex transaction needs, the BNI Treasury team
always interacts well and provides convenience and
speed in transaction services. Wishing us all success
for our future relationship.”
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HEAD OFFICE
The Head Office segment manages BNI Wide’s assets and liabilities, such as non-productive assets and
share investment fees for subsidiaries. Management also covers receiving allocations of operational costs
for services carried out centrally to other segments as well as income and expenses that are not allocated
to other segments.
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SUBSIDIARIES
As one of the largest banks in Indonesia, BNI has the enthusiasm to meet the needs of the communities for their increasingly
diverse transaction needs.This is of course a challenge for the banking world due to service/product restrictions regulated
by Indonesian regulators. For this reason, the role of Subsidiaries is very important in completing the transactional needs
of the Community, as well as playing a role in improving BNI’s overall performance.
BNI and its Subsidiaries that are members of the BNI Group also contribute to the Indonesian financial industry. This
effort is in line with BNI’s strategy to make BNI subsidiaries market leaders in each industry.
BNI has 6 subsidiaries, with majority ownership, namely PT BNI Life Insurance (60.00%), PT BNI Sekuritas (75.00%), PT
BNI Multifinance (99.99%), BNI Remittance Ltd (100.00%), PT Bank Hibank (63.92%) and PT BNI Capital Ventura (99.98%).
Pembiayaan Sekuritas Asuransi Jiwa Kiriman Uang Bank Venture Cap.
Ventures
99,99% 75,00% 60,00% 100,00% 63,92% 99,98%
Also, with minority share ownership, namely PT Bank Syariah Indonesia Tbk 23.24%, PT Pemeringkat Efek Indonesia
0.14%, PT Kustodian Sentral Efek Indonesia 1.0%, PT Bank Mizuho Indonesia 1.0 %, and PT Bank BTPN Tbk 0.15%.
In 2023, the contribution of the subsidiaries to BNI increased, in line with the ongoing transformation of several subsidiaries
such as BNI Multifinance and hibank. BNI Multifinance is refocusing its business to financing the consumer segment, so
that its existence will complement the BNI Group’s product choices by providing motor vehicle loans (KKB). Meanwhile,
hibank aims to become a digital bank that acts as a provider of digital-based integrated financial solutions, especially in
the MSME segment, which will become a new and future growth engine for BNI.
BNI Subsidiaries Profit Performance
Increase (Decrease)
2023* 2022 2021 2020 2019
2022-2023
Subsidiary
Total Total Nominal Percentage Total Total Total
IDR-billion IDR-billion (IDR-billion) (%) IDR-billion IDR-billion IDR-billion
BNI Life 333,1 297,9 35,2 11.8 202,4 86,0 302,1
BNI Sekuritas 66 39 27 68.4 61,8 36,4 20,7
BNI Finance (109,9) (115,1) 5,2 4.5 17,0 6,3 19,4
BNI Remittance (2,4) (0,2) (2,2) (1.054) 3,1 4,0 0,8
Bank hibank 130,6 82,0 48,6 59.3 - - -
BNI Ventures 4,0 3,7 0,3 7.4 - - -
Jumlah 421,0 307,2 113,8 37.0 284,3 132,7 343,0
*Unaudited
In 2023, BNI Subsidiaries posted a net profit of IDR421.0 billion, growing by 37.0% compared to 2022. The Subsidiaries’
performance continues to improve as a result of business development efforts through transformation in several BNI
subsidiaries. Hibank recorded the highest profit growth in 2023, with 59,2% year on year, in line with business growth
through healthy and measurable loan expansion.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 231
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
BNI Life posted a profit of IDR333.1 billion and grew 11.8% year on year in line with an increase in investment income.
BNI Sekuritas also posted a profit of IDR66 billion and grew 68.4% (YoY) in line with its business strategy that focuses
on retail and corporate.
PT BNI Life Insurance (“BNI Life”)
BNI Life operates in the life insurance sector including Sharia life insurance. The insurance products offered by BNI Life
include life, health, education, investment, pension and sharia insurance. The following shows is the ownership structure
of BNI Life.
0,000003% 0,000003%
39,999993%
60,000000%
BNI
Sumitomo Life Insurance Company
BNI Employee Welfare Foundation
Swadharma Fund Foundation
The global economic conditions are so dynamic, where In 2023, BNI Life also made adjustments to PAYDI products
people live amidst uncertainty, meaning companies in by following SEOJK regulations No. 5/SEOJK.05/2022.
every industry require continuous innovation and creative BNI Life made comprehensive improvements including
disruption. The insurance industry is no exception. Based product revamps, sales mechanisms, investment placement
on data from AAJI (Indonesian Life Insurance Association), provisions, together with information and services to
the life insurance industry’s premium income fell 7.3% year customers.
on year, while BNI Life managed to grow positively above
the industry by 7.6% year on year. BNI Life also continued to make continuous improvements
through infrastructure innovation for the development of
To maintain its performance, BNI Life is committed to Artificial Intelligence and data analytics. By implementing
innovation by creating superior products, which suit needs this technology, BNI Life will be better prepared to face the
and to making continuous improvements, so that BNI rapid and diverse changes in the life insurance industry
Life can be the choice for the best insurance services and and help the Company realize sustainable digital service
protection for the community.The management’s strategic innovation.
policy in 2023 was: Prioritize regular premium products
and profitable products.
1. Carry out continuous improvements to the business
model.
2. Optimize investment income and manage risk prudently.
3. Increase risk mitigation by paying attention to dynamic
movements in macro conditions.
4. Efficiency and proper cost management.
5. Automation and digitization of business processes in
line with developments in the industry.
6. Increase the capability and productivity of human
capital, to create superior HC.
232 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
The following table showa BNI Life Performance
BNI Life Financial Performance
Increase (Decrease)
2023* 2022
Account Nominal Percentage
(IDR-billion) (IDR-billion)
(IDR-billion) (%)
Financial Position
Assets 24,972 23,359 1,613 6.9
Productive/Investment Assets 23,353 21,558 1,795 8.3
Obligations 18,622 17,347 1,275 7.3
Equity 6,350 6,012 338 5.6
Profit & Loss
Total Income 6,981 6,360 621 9.8
Gross Premium Income 5,379 4,997 382 7.6
Investment Income 1,573 1,305 268 20.5
Non-LINK 1,131 974 157 16.2
LINK 442 331 111 33.5
Other Income 127 137 (10) (7.3)
Total Expenses (6,644) (6,118) (525) 8.6
Insurance/Claim Fees (5,194) (4,709) (485) 10.3
Acquisition Fees (635) (669) 34 (5.2)
Business Expenses (697) (656) (41) 6.3
Non Operational Expenses
(118) (84) (34) 40.8
(Income)
Profit before tax 337 242 96 39.6
Tax (3) 57 (60) (106.2)
Net Profit 333 298 35 11.8
*Unaudited, PSAK 71
Analysis of the financial position shows a positive performance in 2023 compared to the previous year 2022.The increase
in the growth of total assets and productive assets, which grew by 6.9% and 8.3% year on year respectively, illustrates the
strong financial condition and the Company’s ability to manage and increase asset value.The increase in liabilities reflects
a financial strategy aimed at supporting business growth, showing the Company’s involvement in managing finances
well. The increase in equity reflects the Company’s efforts to support growth through a balanced funding strategy. This
provides a positive picture of the Company’s ability to develop and compete in the market.
Total income increased by 9.8%, (YoY) reaching IDR6,981 billion in 2023, this increase was due to an increase in premium
income and investment returns. Gross premium income increased by 7.6% (YoY), while investment income grew by
20.6% (YoY), reaching IDR1,573 billion, reflecting a positive performance in investment and showing good management
of the investment asset portfolio. Total expenses rose 8.6% (YoY), mainly due to increases in insurance/claims fees and
operating costs. Business costs also increased but by a lower percentage. These increases or decreases in costs reflect
an efficient cost management strategy. The Company’s financial performance during this period showed positive growth
and efficient management so that in 2023 BNI Life’s net profit reached IDR333 billion, a growth of 11.8% (YoY).
BNI Life Financial Ratio Performance
2023* 2022 Difference
Pos Akun
(%) (%) (%)
Return On Asset (ROA) 1.4 1.1 0.3
Return On Equity (ROE) 5.3 5.1 0.2
Investment Return / Assets Return 6.7 6.1 0.6
Risk Based Capital (RBC) 680.6 666.2 14.4
*Unaudited, PSAK 71
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 233
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
The good financial performances in 2023 have impacted the RBC’s Risk-Based Capital increased 14.4% from 666.2%
BNI Life’s financial ratios, which also increased. Return on in 2022 to 680.58% in 2023. This increase shows that the
Assets (ROA) increased 0.3% from 1.1% in 2022 to 1.4% in Company has greater capital adequacy to bear risks, and
2023.This increase shows that the Company has succeeded provides confidence that the Company has strong financial
in increasing the efficiency of using its assets to generate resilience and is able to overcome challenges that arise
profits.This also indicates better efficiency and productivity. over time.
The ratio of investment returns to investment assets rose In recognition of the performance achieved, BNI Life again
0.6% from 6.1% in 2022 to 6.7% in 2023. An increase in received awards in 2023, including the following:
investment returns means that the Company’s investment
strategy has succeeded in producing better returns
and making a positive contribution to overall financial
performance.
No Award Predicate Category Awarder Description Date
This award was given on January
Indonesia 31 2023 by Warta Ekonomi
Managing a High
Excellence Warta Magazine to companies that
Level of Company Life Januari 31,
1 Good Corporate Ekonomi consistently implement GCG in
Performance in Insurance 2023
Governance Awards Magazine managing business activities
GCG Ethics
2023 which have a positive impact on
the sustainable growth process.
This award was given on
February 17, 2023 by The
Iconomics Magazine. This award
3rd Indonesia
Syariah Insight Life The Iconomics is given to companies that February 17,
2 Syariah Awards
2023 Insurance Magazine have large market potential for 2023
2023
developing the sharia financial
sector and also increasing sharia
financial literacy.
This award was given on
February 17, 2023 by The
Iconomics Magazine. Through
4th Anniversary
Indonesia’s Popular this Award, PT BNI Life Insurance
Indonesia's Popular Financial The Iconomics February 17,
3 Digital Products received the title of Indonesia's
Digital Products Industry Magazine 2023
Award Popular Digital Products Award
Award 2023
2023 (Financial Industry with the
Life Insurance > 15 T category, for
the brand name (BNI Life Mobile).
This award was given on
February 23 2023 by SWA
Indonesia Magazine. This award is
given to companies that achieve
Indonesia Customer SWA the best score based on customer
Unit Linked February 23,
4 Experience Award Good Indonesia evaluations of a number of
Insurance 2023
2023 Magazine parameters and attributes
of a particular measurement
variable. This is inseparable from
Customer trust and support from
Management and BNI Life People.
234 From Local to Global
Page 235
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
No Award Predicate Category Awarder Description Date
This award was given on
February 24 2023 by Warta
Ekonomi Magazine. This
Best Public Relation award was given to PT BNI
in Company Life Insurance because it was
Indonesia Public Warta
Management on Life considered to have carried February 24,
5 Relation Awards Ekonomi
Improving Business Insurance out a good Public Relations 2023
(IPRA) 2023 Magazine
Process Through role, especially in providing
Digitization customer satisfaction, loyalty
and involvement by optimizing
products and services as well as
customer experience.
This award was given on
February 24 2023. This award
is given to the life insurance
Kategori Campuran
Unit link Awards Unit Link Investor company with the best unit link February 24,
6 IDR Periode 5 tahun
2023 Terbaik 2023 Magazine performance throughout 2022. 2023
This is inseparable from the trust
of customers and support from
Management and BNI Life People.
This award was given on
February 24 2023. This award
is given to the life insurance
Sharia Mixed
Unit link Awards Best Unit Investor company with the best unit link February 24,
7 Category 3 year
2023 Link 2023 Magazine performance throughout 2022. 2023
period
This is inseparable from the trust
of customers and support from
Management and BNI Life People.
This award was given on
February 24 2023. This award
is given to the life insurance
Sharia Mixed
Unit link Awards Best Unit Investor company with the best unit link February 24,
8 Category 5 year
2023 Link 2023 Magazine performance throughout 2022. 2023
period
This is inseparable from the trust
of customers and support from
Management and BNI Life People.
This award was given on
February 24 2023. This award
is given to the life insurance
Category Fixed
Unit link Awards Best Unit Investor company with the best unit link February 24,
9 income USD 3 year
2023 Link 2023 Magazine performance throughout 2022. 2023
period
This is inseparable from the trust
of customers and support from
Management and BNI Life People.
This award was given on
February 24 2023. This award
is given to the life insurance
IDR Money Market
Unit link Awards Best Unit Investor company with the best unit link February 24,
10 Category 5 year
2023 Link 2023 Magazine performance throughout 2022. 2023
period
This is inseparable from the trust
of customers and support from
Management and BNI Life People.
This award was given on
February 28 2023 by Warta
Ekonomi Magazine. This
Best Performance
award was given to the CFO/
CFO 2023 in
Warta Financial Director because of
Indonesia Best CFO Strenghtening Best Link February 28,
11 Ekonomi his achievements in leading the
Award 2023 Investment for Unit 2023
Magazine company in the financial sector
Sustainable Profit
and carrying out developments
Achievement
and providing a positive
stimulant to the economy in
Indonesia.
Unit link Fixed
Insurance This award was given on
Unit Link Award Rupiah Income Best Link February 28,
12 Media February 28 2023 by Insurance
2023 on Dana Mantap Unit 2023
Magazine Media Magazine.
Products 2
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 235
Page 236
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
No Award Predicate Category Awarder Description Date
Rupiah Money
Insurance This award was given on
Unit Link Award Market Unit link Best Link February 28,
13 Media February 28 2023 by Insurance
2023 for Liquid Fund Unit 2023
Magazine Media Magazine.
Products
Fixed Dollar
Income on B-Life Insurance Penghargaan ini diberikan pada
Unit Link Award Best Link 28 Februari
14 Spectra Link Media tanggal 28 Februari 2023 oleh
2023 Unit 2023
Secure USD Fund Magazine Majalah Media Asuransi.
Products
Sharia Rupiah
Mixed Unitlink for Insurance This award was given on
Unit Link Award Best Link February 28,
15 BNI Life Syariah Media February 28 2023 by Insurance
2023 Unit 2023
Balance Fund Magazine Media Magazine.
Products
Rupiah Sharia
Fixed Income Insurance This award was given on
Unit Link Award Best Link February 28,
16 Unitlink for B-Life Media February 28 2023 by Insurance
2023 Unit 2023
Syariah Fixed Magazine Media Magazine.
Income Products
This award was given on
March 8 2023 by Obsession
Media Group through research
and surveys from the News
Portal Obsessionnews.com,
Obsession Awards Life Obsession
17 Best Professionals Muslimobsession.com, Men's March 8, 2023
2023 Insurance Media Group
Obsession Magazine, Women's
Obsession Magazine, and
TV OMG based on Mrs. Neny
Asriany's dedication and
professionalism in her field.
This award was given on April 6,
2023 by The Iconomics Magazine.
This award is given to companies
based on digital research to
Indonesia Best 50 Indonesia Best 50 In Life The Iconomics
18 measure the company's success April 6, 2023
CEO Awards 2023 CEO Awards 2023 Insurance Magazine
in carrying out digital branding
activities through search engine
based, social media based and
website based.
This award was given on April 12
2023 by Info Ekonomi Magazine.
This award is given to companies
TOP Digital TOP Digital based on digital research to
Financial Economic Info
19 Corporate Brand Corporate Brand measure the company's success April 12, 2023
Industry Magazine
Award 2023 Award 2023 in carrying out digital branding
activities through search engine
based, social media based and
website based.
This award was given on May
12 2023 by Infobank Magazine.
This award was given to Neny
Asriany as a strong woman
who is successful both in life
as a person, wife and mother,
In Recognition of
as well as in terms of a career
Info Bank: Top 100
TOP Most in a professional environment.
Most Outstanding Life Bank Info
20 Outstanding Women also have great May 12, 2023
Women 2023 in Insurance Magazine
Women 2023 opportunities and opportunities
Financial Sector
to fill roles to support economic
and SOE
growth and increasingly
promote the implementation of
emancipation so that women in
Indonesia have greater equality in
terms of career opportunities and
growth as leaders.
236 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
No Award Predicate Category Awarder Description Date
This award was given on May
19, 2023 by the Economic
Review. This award is given
to the Corporate Secretary &
Corporate Communication of BNI
The Best Coprorate Life because it is very important
Indonesia
Secretary & in building a company's
Corporate Secretary Platinum Economic
21 Corporate reputation. This award is given to May 19, 2023
& Communicaton Award Review
Communication companies that have the criteria
Award VIII 2023
Award 2023 of being able to plan, implement,
monitor and evaluate corporate
communication programs
strategically and are able to prove
their effectiveness in building the
company's reputation at large.
This award was given on May
31 2023 by Warta Ekonomi.
Best Leader for This award is given to leaders
Sustainability of financial industry companies
Life
Indonesia Financial Acceleration who consistently innovate,
Insurance, Warta
22 TOP Leader Award Through End to adapt and develop business May 31, 2023
Total Assets Ekonomi
2023 End Business in their company activities to
10 T – 25 T
Process support economic growth and
Implementation develop the potential for national
economic recovery to be realized
more quickly.
This award was given on July
6 2023 by Warta Ekonomi. This
award was given to BNI Life
Indonesia Most Indonesia Most because it is always committed
Acclaimed Acclaimed Life Warta to providing innovation,
23 July 6, 2023
Companies Award Companies Award Insurance Ekonomi improving business processes
2023 2023 & sustainable digitalization in
all aspects, in order to provide
ease of insurance for the entire
community.
This award was given on July 27
2023 by Insurance Media. This
award is given to companies
based on premium achievement
and best performance in 2022.
Insurance Market Insurance Market Life Insurance Market Leaders in any industry
24 July 27, 2023
Leader Award 2023 Leader Award 2023 Insurance Media have an important role and
great influence, apart from that,
this can encourage companies
to continue to innovate, work
hard and be smart in driving
performance.
This award was given on
August 3, 2023 by The Iconomics
Magazine. This award is given to
institutions/companies with the
aim of providing motivation for
Indonesia Popular PR work, especially maintaining
4th Indonesia Public
Companies & The Iconomics the rhythm of communication August 3,
25 Relation Submit Corporate
Institutions Awards Magazine through digital mass media. PR 2023
Award 2023
2023 has an important role in building
strong relationships between
organizations and stakeholders,
managing image, and effectively
communicating messages to the
wider community.
This award was given on August
31, 2023 by The Iconomics. This
award is given to institutions/
Best TJSL 2023 companies that continue to
with Outstanding Insurance improve the implementation of
Indonesia TJSL Program in and Pension Warta corporate social responsibility August 31,
26
Awards 2023 Financial Literacy Fund Ekonomi programs that are oriented 2023
and Community Services towards sustainable development
Social Assistance with various challenges and
adaptation methods that prioritize
energy efficiency to face the new
era of the economy in Indonesia.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 237
Page 238
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
No Award Predicate Category Awarder Description Date
This award was given on
September 6, 2023 by Top
Business Magazine. This award
was given to BNI Life as an award
recipient at the 2023 TOP GRC
Awards for the award category
(4 Star), where the institution/
company has a comprehensive
Top GRC Award Top GRC Awards Life Top Business September 6,
27 GRC system and infrastructure,
2023 2023 Insurance Magazine 2023
is able to implement Good
Corporate Governance (GCG)
well, manage risks effectively, and
strictly adhere to Compliance. All
of these components together
play an important role in
supporting sustainable business
growth.
This award was given on
September 6, 2023 by Top
Business Magazine. This award
was given to Mr. Eben Eser
Nainggolan as the recipient
of the award at the TOP GRC
Awards 2023 in the category of
The Most
Top GRC Award Life Top Business The Most Committed GRC Leader September 6,
28 Committed GRC
2023 Insurance Magazine 2023, able to implement Good 2023
Leaders 2023
Corporate Governance (GCG)
well, manage Risk effectively,
and comply with Compliance
carefully. All of these components
together play an important role in
supporting sustainable business
growth.
This award was given on
September 8 2023 by The
Iconomics Magazine at the
4th Indonesia Top Insurance
Companies Award 2023 in the
Performing In Asset 10-25 Trillion
Life Insurance category. This
award is given to companies
through an assessment of
two parameters, namely the
Indonesia
Performing In Asset Rank Financial Indicator (with
Top Insurance Life The Iconomics September 8,
29 10-25 Trillion Life a weight of 60%) and the Rank
Companies Award Insurance Magazine 2023
Insurance Financial Growth Indicator
2023
(with a weight of 40%). The
assessment carried out is looking
at insurance companies ranked
based on financial performance
figures in a list of insurance
company groups and the
assessment given to insurance
companies for their financial
performanceachievements from
the previous year.
This award was given on
September 13 2023 by Info
Ekonomi Magazine at the Top
Digital Corporate Brand Award
2023 event. This award was
given to companies based on
Top Digital Top Digital
Life Economic Info the results of the Top Digital September 13,
30 Corporate Brand Corporate Brand
Insurance Magazine Corporate Brand Index 2023 2023
Award 2023 Award 2023
research, namely digital research
to measure the success of
companies in carrying out digital
branding activities through
Search Engine Aspect, Social
Media Aspect, Website Aspect.
238 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
No Award Predicate Category Awarder Description Date
This award was given on
September 18 2023 by Insurance
Media at the Top Digital Insurance
Award 2023 event. This award
Best Life Insurance
was given to companies based
2023 Kelompok
Media Asuransi Life Insurance on an assessment of business September 18,
31 Ekuitas IDR4 Triliun
Award 2023 Insurance Media performance during 2022 2023
ke Atas.
(financial performance), the
judges determined BNI Life as
one of the best companies in the
insurance group and sharia unit
group.
This award was given on
September 18 2023 by Media
Asuransi at the Top Digital
Insurance Award 2023 event. This
Best Sharia Unit
award was given to companies
Life Insurance 2023
Media Asuransi Life Insurance based on an assessment of September 18,
32 Kelompok Ekuitas
Award 2023 Insurance Media business performance during 2023
IDR250 Miliar ke
2022 (financial performance), the
Atas.
judges determined BNI Life as
one of the best companies in the
insurance group and sharia unit
group.
This award was given on
September 21 2023 by IDX
Channel at the Top Indonesian
Innovation Awards 2023 in the
Product and Business Model
category. This award was given to
Anugerah Inovasi Anugerah Inovasi Produk dan BNI Life making a breakthrough September 21,
33 IDX Channel
Indonesia 2023 Indonesia 2023 Model Bisnis by launching the Digital Policy 2023
Owner Services (bPos) service.
This innovative step significantly
improves service quality
and makes things easier for
customers by providing more
practical and efficient access.
This award was given on
September 26 2023 by IDX
Channel at the Top Indonesian
Innovation Awards 2023 in the
Product and Business Model
category. This award was
Top Indonesian Products and given to BNI Life as a form of
InfoBank Sharia September 26,
34 Innovation Award Business IDX Channel recognition for their extraordinary
Award 2023 2023
2023 Models achievements in developing and
expanding the sharia financial
market. The innovation in sharia
financial products and services
that they have offered has made
a significant positive contribution
to this industry.
This award was given on October
13 2023 by Warta Ekonomi at
the CEO Achievement Award
2023 event. This award is
given to CEOs who are able to
CEO Insight 2023- CEO Achievement Life Warta October 13,
35 create good strategies, build
2024 Award 2023 Insurance Ekonomi 2023
teamwork in dealing with current
situations & conditions and can
collaborate with all stakeholders
to achieve performance good and
sustainable company.
This award was given on October
18 2023 by Info Ekonomi at the
TOP Corporate Finance Award
TOP Corporate 2023 event. This award is given
4th TOP Corporate Finance Award to companies that have had
Life October 18,
36 Finance Award 2023 2023 Info Ekonomi positive performance in the
Insurance 2023
financial industry in the last year
to provide maximum profits to
the company. It is hoped that
this will increase customer and
stakeholder trust in BNI Life.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 239
Page 240
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
No Award Predicate Category Awarder Description Date
This award was given on
November 27 2023 by The
5th Anniversary Iconomics Magazine at the
Life The Iconomics November 27,
37 Iconomics Award Best 50 Financial Best 50 Financial event. This
Insurance Magazine 2023
2023 award is given inseparable from
customer trust and support from
management and BNI Life people.
This award was given on
November 27 2023 by The
Iconomics Magazine at the 10
5th Anniversary
10 Most Popular Life The Iconomics Most Popular CFO Award 2023 November 27,
38 Iconomics Award
CFO Award 2023 Insurance Magazine event. This award was given 2023
2023
inseparable from customer trust
and support from management
and BNI Life people.
This award was given on
November 29 2023 by Business
News at the 2023 Human Capital
& Performance Award event.
The award won by BNI Life is a
manifestation of the company's
success in developing human
Human Capital & The Best Learning
Life Business capital transformation and digital November 29,
39 Performance Award and Development
Insurance News transformation which is aligned 2023
2023 Strategy 2023
with the company's strategy
in development, management,
learning and professional
innovation and global quality. It
is hoped that this will increase
customer and stakeholder trust in
BNI Life.
This award was given on
November 29 2023 by Business
News at the 2023 Human Capital
& Performance Award event.
The award won by BNI Life is a
manifestation of the company's
success in developing human
Human Capital &
The Best HC Future Life Business capital transformation and digital November 29,
40 Performance Award
Leaders of The Year Insurance News transformation which is aligned 2023
2023
with the company's strategy
in development, management,
learning and professional
innovation and global quality. It
is hoped that this will increase
customer and stakeholder trust in
BNI Life.
This award was given on
November 30 2023 by Bisnis
Indonesia at the Top BUMN
Awards 2023 in the category of
The Most Committed Company
In Digital Service Excellence.
The Most The award was given to BNI
Top BUMN Award Committed Special Bisnis Life as a company that has November 30,
41
2023 Company in Digital Award Indonesia succeeded in carrying out digital 2023
Service Excellence innovations such as: AI Chatbot
on the Website, bPos and BNI
Life Mobile in providing digital
services to customers and
stakeholders. This is expected
to increase customer and
stakeholder trust in BNI Life.
240 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
No Award Predicate Category Awarder Description Date
BNI Life as award recipient at the
2023 Digital Financial Excellence
Award event.
Based on the survey
methodology carried out, the
digital innovation that has
been carried out by BNI Life is
Digital Financial
Equity IDR 1.5 Life Insurance considered to provide benefits December 19,
42 Excellence Awards
Trillion and above Insurance Media and present digital financial 2023
2023
service solutions that are
inclusive and sustainable.
Through this award, BNI Life will
always be committed to being a
company that prioritizes customer
service through the development
of information technology.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 241
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2023 Management Company Management Discussion and Business Support
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PT BNI Securities (“BNI Securities”)
PT BNI Sekuritas (“BNI Sekuritas”) is a BNI Subsidiary that carries out a business that includes securities trading, including
acting as a securities broker, securities underwriter, and other activities related to these activities with due observance
of applicable laws and regulations.
25%
75%
BNI
SBI Financial Services Co., Ltd
BNI Sekuritas’ transformation strategy in 2023 focused on collaborating with regional, top-tier companies and developing
the BIONS trading application.These three areas were started in the 3rd quarter of 2022 in collaboration with the Investment
Bank Sector with several BNI KLN and Regional Investment Banks. The Institutional Equity Department also succeeded
in on-boarding 9 (nine) top-tier investors as BNI Sekuritas customers, as well as digital collaboration by BIONS, which
was successfully integrated with the BNI mobile banking application to carry out the new customer registration process.
Increase (Decrease)
2023* 2022
Account Nominal Percentage
(IDR-billion) (IDR-billion)
(IDR-billion) (%)
Balance Sheet
Assets 2,384 1,622 762 47.0
Obligations 1,214 465 750 161.1
Equity 1,170 1,158 12 1.0
Profit / Loss
Income 586 542 44 8.1
Brokerage commissions 119 136 (17) (12.5)
Investment management fees 115 118 (3) (2.5)
Brokerage comm. from fix income activities 47 39 8 20.5
Fees from investment banking activities 256 218 38 17.4
Increase/(decrease) on net asset value of mutual funds 1 2 (1) (50.0)
Interest revenue from fund separation & bond & dividen 15 9 6 66.7
Gain (Loss) on trading of marketable securities - net 9 3 6 200.0
Margin and overdue revenue 14 9 5 55.6
Others 10 8 2 25.0
Business Expenses (501) (486) 15 3.1
Other income 25 21 4 19.0
Interest & Other Finance Fees (23) (19) 5 21.1
Total Income 611 563 47 8.5
Total Expenses (524) (505) 19 3.6
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Increase (Decrease)
2023* 2022
Account Nominal Percentage
(IDR-billion) (IDR-billion)
(IDR-billion) (%)
Profit Before Tax 87 58 29 50.3
Tax (21) (19) 2 10.5
Profit After Tax 66 39 27 68.1
*Unaudited
BNI Sekuritas’ total assets increased compared to 2022 by 47% from IDR1,622 billion to IDR2,384 billion in 2023, mainly
due to an increase in customer transaction receivables related to the Company’s securities trading transactions and an
increase in the placement of funds in deposits in 2023.
The Company’s liabilities as of December 31, 2023 saw a significant increase, mainly due to the increase in customer
transaction debt, which was in line with the increase in customer transaction receivables and subordinated loan withdrawals.
At the same time, BNIS equity as of December 31, 2023 did not move much other than that caused by movements in
profit for the current period and other comprehensive income.
BNI Sekuritas Financial Ratio Performance
2023* 2022 Difference
Pos Akun
(%) (%) (%)
Return On Asset (ROA) 2.9 2.4 0.5
Return On Equity (ROE) 5.9 3.4 2.5
Operating Expenses to Operating Income (BOPO) 85.1 89.8 (4.7)
*Unaudited
The increase in ROA and ROE was mainly due to a significant increase in the Company’s FY 2023 consolidated profit
compared to FY 2022 profit from IDR39 billion in December 2022 to IDR69 billion in December 2023. This increase was
mainly driven by the BSPL’s Net Loss getting smaller in 2023 and a significant increase in BNI Sekuritas (Parent Only)
profits, as well as a contribution from an increase in BNI Asset Management profits.
In recognition of the performance achieved, BNI Sekuritas again received awards in 2023, including the following.
Awards Received by BNI Sekuritas in 2023
1. Indonesia’s Popular Digital Products Award 2023 (Financial Industry), The Iconomics
2. Indonesia Top Digital Innovation Award 2023, The Iconomics
3. The Best - Securities Underwriter and Brokerage Company Assets IDR2.5 Trillion up to < IDR5 Trillion
4. The 2nd Highest - Securities Company
5. Innovative Deal of the Year - Indonesia at the 2023 Asian Banking & Finance Awards
6. The Best Small to Mid-Cap Corporate Finance House at the 17th Annual Alpha Southeast Asia Best FI Awards 2023
7. Main Award for Sustainability Category for Innovation in Issuing Environmentally Friendly Bonds (Green Bond) at
the IDX Channel Anugerah Innovation Indonesia 2023 event
8. Asiamoney 2023; 2nd Best Domestic Brokerages in Indonesia; 2nd Best Domestic Brokerages for Research in Indonesia;
2nd Best Domestic Brokerages for Sales in Indonesia; 2nd Most Transformed Brokerages in Indonesia
9. Trusted Company Corporate Governance Perception Index (CGPI) Award 2023, Indonesia Institute for Corporate
Governance (IIGC) & SWA Magazine
PT BNI Multifinance (“BNI Finance”)
In accordance with Article 3 of the Articles of Association, the scope of activities of PT BNI Multifinance (“BNI Finance”)
carries out activities in the fields of investment financing, working capital financing, multipurpose financing and operating
leases. BNI Finance’s current focus is on multipurpose financing or the consumer segment, with its superior product
being financing for regular (new) four-wheeled vehicles as well as through the fleet Car Ownership Program (COP).
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0,002%
99,998%
BNI
Employee Cooperative
In 2023, BNI Finance carried out a transformation in all aspects of its business. The strategies carried out by BNI Finance,
divided into 5 aspects, was:
1. Business Innovation: Carrying out marketing strategies oriented towards segmented target markets, expanding
marketing networks/distribution channels, collaborating with dealers and ATPM.
2. Internal Business Process: Centralization of the loan approval process, strengthening Policy & Procedure and
strengthening collection management.
3. Strategic Action: Strengthening capital, strengthening funding, relocating HO offices and rebranding BNI Multifinance
to BNI Finance.
4. Digital Transformation: Implementation of the New Core System
5. Human Capital & Organization: re-organizing the Company, filling key positions/positions both at the head office and
branches and increasing employee competencies.
BNI Multifinance Financial Performance
Increase (Decrease)
2023* 2022
Account Nominal Percentage
(IDR-billion) (IDR-billion)
(IDR-billion) (%)
Balance Sheet
Assets 3,789 1,020 2,769 271.5
Cash and Bank 62 27 35 129.6
Deposits 465 45 420 933.3
Financing 3,024 708 2,316 327.0
CKPN Financing (96) (45) (51) (111.6)
Leasing 516 436 80 18.3
Consumer Payments 2,464 188 2,276 1.210.9
Factoring 44 84 (40) (47.7)
Liabilities 2,946 867 2,079 239.8
Equity 843 153 690 450.4
Profit / Loss
Operating Income
Leasing Income 50 83 (33) (39.9)
Consumer Financing Income 95 18 77 440.0
Factoring Income 6 9 (4) (37.6)
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BNI Multifinance Financial Performance
Increase (Decrease)
2023* 2022
Account Nominal Percentage
(IDR-billion) (IDR-billion)
(IDR-billion) (%)
Interest Income 151 110 41 37.2
Interest Expense (96) (70) (26) 36.9
Net interest income 55 40 15 37.8
Operating Lease Income 72 35 37 107.8
Fee Based Income 33 5 29 593.6
Recovery Income 12 3 9 255.0
Other Operating Income 29 2 27 1299.6
Total Operating Income 201 85 117 137.7
Total Operating Expenses (220) (96) (124) 129.2
PPOP (19) (11) (8) (66.3)
Provisions (94) (101) 7 (6.9)
Other Income (Expenses) 3 (3) 6 196.7
Profit/(Loss) Before Tax (110) (116) 6 5.0
Tax 0 1 (1) 100.0
Net Profit/(Loss) After Tax (110) (115) 5 4.0
*Unaudited
Total assets as of December 2023 amounted to IDR3.8 trillion, an increase of 271.5% compared to December 2022,
supported by consumer segment financing growth of 1,210.9% as a result of the success of business innovation carried
out through marketing strategies oriented towards segmented target markets, distribution networks in potential areas
, and strengthening relationships with dealers and ATPM.
Due to significant growth on the asset side, interest income grew positively by 37.2% so that operational income grew
137.7%. On the other side, operational expenses increased by 129.2% from December 2022 in line with the transformation
carried out including adding branches, IT investment to increase Information Technology capacity and capability, and
recruitment of reliable HC in line with the demands of consumer finance business processes.
BNI Finance Financial Ratio Performance
Account 2023* 2022 Difference
Non Performing Loan (NPL) (%) 1.8 3.4 (1.6)
Return On Asset (ROA) (%) (5.6) (9.2) 3.6
Return On Equity (ROE) (%) (34.0) (47.9) 13.9
Operating Expenses to Operating Income (BOPO) (%) 139.1 173.3 (34.2)
Debt Equity Ratio (DER) (times) 3.2 5.3 (2.1)
*Unaudited
The Company’s Debt Equity Ratio (DER) stands at 3.2 times and is still below the regulator’s threshold limit of a maximum
of 10 times. Non-Performing Loans (NPL) as of December 2023 improved from 3.4% in December 2022 to 1.8% in
December 2023 in line with the Company’s transformation in creating improvements in the quality of financing through
more prudent loan distribution. Even though the business has grown significantly, the Company has not recorded a
positive profit after tax as a result of improving the quality of financing so that the Company’s profitability ratios, namely
Return on Assets (ROA) and Return on Equity (ROE) are still negative, but have increased compared to December 2022.
In addition, the efficiency ratio, namely the Company’s BOPO, has improved by 34.2 from 173.3 to 139.1, showing that
the Company is more effective in managing its operational expenses.
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BNI Remittance Limited (“BNI Remittance”)
BNI Remittance Ltd. (“BNI Remittance”) is a BNI Subsidiary engaged in the remittance sector and is wholly owned by BNI.
BNI Remittance collaborates with BNI in the financial inclusion program that provides financial access to meet the needs
of Indonesian Migrant Workers (PMI) in Hong Kong. Apart from the remittance business, the presence of BNI Remittance
in Hong Kong plays a strategic role as a representative of BNI retail services in Hong Kong where BNI customers in Hong
Kong can use BNI services as easily as services in their homeland.
Synergy with BNI continues by providing various BNI digital services that can also be accessed easily in Hong Kong, the
first is the BNI Mobile Banking service, currently a customer favorite in Hong Kong, for carrying out financial transactions,
then opening a BNI Taplus account digitally either via the application Digital Opening Account (DOA) or via eForm. BNI
Remittance is also actively involved in several activities with PMI such as capacity building, financial literacy, visits to
PMI communities in Hong Kong, etc.
In 2023, BNI Remittance together with BNI KLN Hong Kong conducting a study to carry out business transformation to
increase market share and as a responsive step to changes in customer transaction patterns that are currently starting
to switch to digital channels.
The following shows BNI Remittance Performance:
BNI Remittance Performance
Increase (Decrease)
2023* 2022
Account Nominal Percentage
(IDR-billion) (IDR-billion)
(IDR-billion) (%)
Balance Sheet
Assets 12 19 (7) (38.6)
Current Assets 8 11 (3) (27.0)
Fixed Assets 0,1 0,2 (0,1) (50.0)
Other Assets 4 8 (4) (42.9)
Liabilities 3 7 (4) (62.8)
Current Liabilities 3 7 (4) (62.8)
Equity 9 11 (2) (22.8)
Profit / Loss
Income
Commission Earned 3 3 (0,1) (5.6)
Exchange gain/Loss 0,7 0,8 (0,1) (7.7)
Other Commission 5 7 (2) (35.3)
Total Income 9 11 (2) (24.4)
Expenses (11) (12) 1 (5.2)
Operational Expenses (11) (12) 1 (5.2)
Earning Before Tax (2) (0,2) (2) (1.054.2)
Tax** - -
Earning After Tax (2) (0,2) (2) (1.054.2)
*) unaudited
**) There was no tax obligation for BNI Remittance due to the accumulated profit balance which is still negative in the equity component
In 2023, BNI Remittance Ltd posted a negative profit due to revenue decreasing 24.4% (YoY) even though OPEX also
decreased 5.2% (YoY). This decline in performance was due to changes in customer transaction patterns that shifted to
digital channels and the emergence of other competitors, especially non-banking, who offered convenience and cheaper
costs in carrying out money transfer transactions.
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BNI Remittance Financial Ratio Performance
Account 2023 2022 Selisih
Return On Asset (ROA) (%) (16.4) (1.1) (15.3)
Return On Equity (ROE) (%) (23.3) (1.8) (21.5)
Operating Expenses to Operating Income (BOPO) (%) 127.7 101.8 25.9
BNI Remittance’s ROA and ROE in 2023 stood at -16.4% and -23.3%, a decrease compared to 2022, due to the decline in
BNI Remittance’s net profit. BOPO increased to 127.7% in 2023 from 101.8% in 2022 due to income that experienced a
significant decline from 2022.
PT Bank Hibank Indonesia (“hibank”)
PT Bank Hibank Indonesia (“hibank”) officially became a Subsidiary of BNI following BNI’s takeover of a majority shares
conducted by BNI toward Bank Mayora on May 18, 2022. PT Bank Mayora has officially changed its name to Hibank
after receiving approval from the OJK on May 17, 2023. Hibank will be transformed into a Digital Bank with the vision
to become the “Leading Digital-First SME Bank in Indonesia”. Hibank’s transformation process continues by building a
stronger foundation for growth in different aspects, including loans, services, information technology, human capital,
risk management and infrastructure.
The financial performance aspects development has continued since hibank joined the BNI Group. Improvement
initiatives have been carried out by prioritizing BNI Group’s synergy with hibank to be able to provide added value
and cost efficiency as a group. hibank has played an active role in supporting the MSME segment through a variety of
savings and loan products.
36,08%
63,92%
BNI
PT Mayora Inti Utama
To achieve the company performance in 2023, Hibank is developing the following main strategies:
1. Carry out the bank’s digital transformation process which consists of 5 streams, namely People, Business, IT &
Infrastructure, Governance, Risk & Compliance and Branding.
2. Partnership program with fintech and anchors to expand MSME market penetration
3. Business Optimization to support the Digital Bank embryo by synergizing and collaborating with the BNI Group.
To achieve its best performance, in 2023 hibank undertook a digital transformation to support both bank operations and
to provide services to customers.
Bank hibank ‘s performance can be seen below.
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hibank Financial Performance
Increase (Decrease)
2023* 2022 Nominal
Pos Akun Percentage
(IDR-billion) (IDR-billion) (IDR-
(%)
billion)
Financial Position
Assets 14,616 11,589 3,027 26.1
Placements at BI 1,992 1,917 75 3.9
Placements with Other Banks 657 49 608 1.251.4
Securities 5,501 6,248 (747) (12.0)
Loans 6,018 3,160 2,858 90.4
CKPN (139) (107) (32) 29.5
Liabilities 10,145 7,259 2,886 39.8
Third-party funds 9,500 6,937 2,563 36.9
Current Accounts 2,566 898 1,668 185.8
Savings 979 836 143 17.1
Deposits 5,955 5,204 751 14.4
Equity 4,470 4,330 140 3.2
Profit / Loss
Operating Income 548 347 201 58.0
Net interest income 525 324 201 61.7
Interest income 846 524 322 61.6
Interest expense (321) (199) (122) 61.4
Other Operating Income 23 22 1 3.5
Operating Expenses (351) (243) (108) 44.4
Pre-Provision Operating Profit 197 104 93 88.8
Provision (32) (9) (23) 255.6
Operating Profit (Loss) 164 95 69 72.6
Non-Operating Profit (Loss) 3 10 (7) (66.6)
Profit (Loss) Before Tax 168 105 63 59.2
Tax (37) (23) (14) 59.2
Profit (Loss) After Tax 131 82 49 59.2
*) unaudited
hibank Financial Ratio Performance
2023* 2022 Selisih
Pos Akun
(%) (%) (%)
Non Performing Loan (NPL) 1,2 3,4 (2.2)
Return On Asset (ROA) 1,3 1,0 0.3
Return On Equity (ROE) 3,0 2,7 0.3
Operating Expenses to Operating Income (BOPO) 81,1 81,9 (0.8)
Current Account Saving Account (CASA) 37,3 25,0 12.3
Net Interest Margin (NIM) 4,5 3,3 1.2
Loan to Deposit Ratio (LDR) 63,3 45,6 17.7
Cost of Fund (COF) 3,8 2,6 1.2
Capital Adequacy Ratio (CAR) 86,0 130,4 (44.4)
*) Unaudited
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During 2023, Hibank delivered excellent performance. Another financial achievement achieved was in loan
Operating Income (Gross) saw a significant increase of distribution which jumped by 90.4% (YoY), showing
58.0% (YoY), indicating the Bank’s success in increasing the the Bank’s success in building an ecosystem through
level of loans provided. The CASA ratio increased to 37.3% a channeling pattern to companies that have a strong
in December 2023 from 25% in December 2022, reflecting ecosystem.
the right strategy in hibank’s funding management.
In line with the Bank’s new vision and mission, hibank
Another success was seen in the Bank’s Interest Margin consistently plays an active role in supporting the growth
Ratio (NIM) which increased, reaching 4.5% in December of the Micro, Small and Medium Enterprises (MSME)
2023 compared to 3.3% in December 2022. This success sector. This support was reflected in the percentage of
was due to the Bank’s proactive and disciplined steps in loans provided to the MSME sector, which reached 34%
setting loan prices, product bundling, and implementing in December 2023. This figure exceeded the Regulator’s
active funding management to address margin pressures minimum requirement of 20%.
with high efficiency.
Quality improvements also occurred in the gross Bank Loan
The increase in income other than interest by 3.5% (YoY) Quality Ratio (NPL), which decreased to 1.2% in December
also reflects the Bank’s success in treasury transactions, 2023, an improvement compared to the gross NPL in
fees from sales of bancassurance and wealth management the previous period which was 3.4%. This achievement
products, and was supported by an increase in banking shows the Bank’s commitment to helping customers face
transactions. challenges and restructuring loans to maintain asset quality.
On the other side, the Bank’s Liquidity Ratio (LDR) as of
To increase awareness and support plans to digitalize its December 2023 remains well maintained at the level of
services, the Company carried out comprehensive corporate 63.3%.
rebranding and digital transformation activities. These
strategic steps aims to improve the Company’s overall The Bank’s well-managed funding profile is reflected in the
performance and resulted in operational costs increasing positive growth of the Current and Savings Deposit Portfolio
by 44.4% (YoY). which stood at 185.8% (YoY) and 17.1% (YoY), as well as
the increase in the level of Term Savings of 14.4% (YoY).
However, the Bank continues to show discipline in cost Sustained liquidity remains a very important focus for Bank
management with the BOPO Ratio improving to 81.1%, Management considering the domestic and global external
and the Overhead Cost to Gross Operating Income Ratio factors. Strict supervision is also carried out to ensure that
(Cost to Income Ratio/CIR) standing at 64.1%. This shows the Bank’s liquidity is maintained within safe limits.
that every transformation step is carried out with careful
policies, ensuring that every cost incurred will provide The Bank’s strong Capital Adequacy Ratio (CAR) reached
added value which will increase the Bank’s income. 86.0% in December 2023, indicating the stability and
sustainability of hibank in supporting economic growth.
In line with hibank’s success in achieving an increase in This success reflects the Company’s dedication and good
profits that occurred in the year-on-year period (yoy), the strategy in facing challenges and optimizing opportunities
ROE and ROA ratios in December 2023 stood at 3.0% and amidst the dynamics of modern banking.
1.3% respectively. These ratios have increased compared
to the similar period a year earlier when they stood at
2.7% and 1.0%.
In recognition of the performance achieved, Hibank received the following awards in 2023:
Awards Received by Bank Mayora in 2023
No Award Name Date Event Name Organizer
Indonesia Corporate
Secretary and
1. May 19, 2023 Economic Review
Communication
Award VIII 2023
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Awards Received by Bank Mayora in 2023
No Award Name Date Event Name Organizer
Indonesia Top Bank
2 June 27, 2023 The Iconomics
Award 2023
“Indonesia Top Bank Awards 2023”
Indonesia Best Bank
3. July 28, 2023 Warta Ekonomi
Award 2023
“Indonesia Best Bank 2023 for The Empowering the MSME
Ecosystem Through Banking Solutions”
6th Indonesia Sales
4. July 28, 2023 Economic Review
Marketing Award 2023
“The Best Indonesia Sales Marketing 2023”
5 September 6, 2023 TOP GRC Award 2023 Top Business
“Top GRC Awards 2023 #Star 3”
Indonesia Finance
6 November 17, 2023 Economic Review
Award VI 2023
“The Best Indonesia Finance for Bank Private Company
2023”
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Awards Received by Bank Mayora in 2023
No Award Name Date Event Name Organizer
November 27, Best 50 Financial
7 The Iconomics
2023 Awards 2023
“Best Brand Awareness”
West Jakarta
November 27, Directorate General of
8 Directorate General
2023 Taxes
of Taxes
“Charter of Award for active participation in national
development through tax payments”
November 29,
9 Bank Indonesia Award Bank Indonesia
2023
“Bank with the Best Financial Reporting Compliance KBMI
1 and 2”
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Awards Received by Bank Mayora in 2023
No Award Name Date Event Name Organizer
Indonesia Information
10. December 8, 2023 Technology Award - V Economic Review
- 2023
"The Best IT for Bank Company - 2023, Platinum Award (A)
Very Excellent”
PT BNI Modal Ventura (“BNI Ventures”)
Digital innovation and the impact of disruption produced To realize this goal, BNI Ventures is gradually developing
by the pioneering or startup industry is currently one of the strategic steps related to the new organization. So in 2023,
aspects that is expected to be a driver of world economic BNI Ventures had 5 (five) main focuses in its work plan,
development. The economic recovery acceleration post- namely:
COVID-19 was in part thanks to the role of start-up industries 1. Governance, Legal & Compliance
that were established to provide solutions to various societal Overseeing the company’s business and operational
problems, both on a regional, national and international activities from a legal and compliance perspective
scale.The establishment of BNI Ventures itself is a response that prioritizes accommodating the Company’s needs,
to the aspirations of shareholders, namely BNI and BNI-AM, without neglecting the protection of the company’s
who wanted to respond to the development of start-up interests and the company’s compliance with applicable
businesses in Indonesia that require funding from local regulations.
investors, with a focus on synergy and sustainability of 2. Investment & Risk Management
the digital ecosystem. Actively identify investment potential and invest in
startups that can provide financial benefits with
BNI Ventures is expected to be the main driver for measurable risks and have a positive impact on business
developing start-up companies as a driving force for the development within the BNI Group ecosystem, without
national economic growth. BNI Ventures is also one of ignoring the principle of prudence. In its implementation,
BNI’s innovative steps in diversifying its business, which strengthening the capabilities of investment and risk
emphasizes synergy and sustainability as key elements management functions, such as training, is also carried
to answer the potential for digital banking development. out to support the investment process.
The main goal is to accelerate digital transformation with 3. Synergy & Innovation
the aim of creating and providing added value, while Actively participatingin ecosystem activation and
accelerating the optimization of digital economic potential. innovation activities in the industry and acting as a
liaison between business solutions offered by startups
BNI Ventures has a vision to become the leading corporate to business units within the BNI Group.
venture capital company in Southeast Asia with a focus 4. Finance & Operations
on creating synergy value and superior and sustainable Becoming an agent who can operate effectively and
investment performance. In an effort to realize this vision, efficiently in financial management, be adaptive
the Company carries out operational activities including in facing developments in the business world, and
conventional venture capital, including equity participation, becoming a connecting bridge for stakeholders.
investment through the purchase of convertible bonds 5. People & Culture
(quasi equity participation), and financing through the Supporting increasing organizational capabilities and
purchase of debt securities issued by business partners creating a positive, flexible and collaborative work
at the initial start-up stage, and/or business development, culture to support the Company’s sustainable growth
as well as/or productive business financing. and synergy as well as increase the involvement,
capability and sense of ownership by its employees.
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0,02%
99,98%
Ventures
BNI
BNI AM
BNI Ventures’ performance can be seen below.
BNI Ventures Financial Performance
Increase (Decrease)
2023* 2022 Nominal
Account Percentage
(IDR-billion) (IDR-billion) (IDR-
(%)
billion)
Balance Sheet
Assets 511 505 6 1.2
Current Assets 463 504 (41) (8.3)
Venture Capital Investment Assets 46 - 46 100.0
Fixed Assets 3 1 2 256.2
Other Assets 0,05 - 0,05 -
Liabilities 4 1 3 179.9
Short-term Liabilities 4 1 3 179.9
Equity 508 504 4 0.8
Profit / Loss
Income
Operating Income 1 - 1 100.0
Other Operational Income 22 7 15 197.3
Establishment of impairment reserves - - - -
Total Income 23 7 16 205.4
Expenses (19) (4) (15) 401.4
Operational Expenses (19) (4) (15) 401.4
Profit Before Tax 4,2 3,7 0,5 11.2
Deferred Tax 0,2 - 0,2 100.0
Tax - - - -
Profit After Tax 4,0 3,7 0,3 7.4
*) unaudited
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BNI Ventures Financial Ratio Performance
2023* 2022 Difference
Account
(%) (%) (%)
Return On Asset (ROA) 0,8 1,0 (0.2)
Return On Equity (ROE) 0,8 1,0 (0.2)
*) unaudited
During 2023, BNI Ventures stayed committed to increasing and developing the capacity of venture capital companies.
The increase in assets was largely due to the participation of venture capital in the form of shares and convertible bonds
in two start-up companies as well as the addition of other fixed assets to support the Company’s operational processes.
Meanwhile, the Company’s liabilities recorded an increase due to human resource costs, which will be paid in early 2024.
Equity movements were caused by retained earnings from the current year. With the commitment carried out by BNI
Ventures in accordance with the aspirations of its shareholders, the Company received its first capital injection in 2022.
After successfully making a profit in its first year of operation, the Company mandatory reserves stood at IDR1 billion
in 2023 in accordance with OJK Regulation (POJK) No. 35 of 2015. As a venture capital Company, which is part of the
BNI Group, BNI Ventures recorded a good financial performance in 2023. Total Company Revenue increased from IDR7
billion in 2022 to IDR23 billion in 2023. This was due to optimizing the returns from placing funds and interest income
from convertible note investments. Meanwhile, operational costs in 2023 were IDR19 billion.
This reflects the Company’s commitment to increasing organizational capacity and capability so that it is ready to
support the prudent execution of business plans at measurable risk levels, and to always maintain the application of
good corporate governance.
The net income in 2023 of IDR4.0 billion, proves that BNI Ventures has succeeded in managing its finances optimally.
This also shows that BNI Ventures is a Company that has growth potential by always prioritizing synergy and sustainable
innovation in line with the Company’s values and current developments.
Subsidiary Segment Profitability
Revenue and profitability of the Subsidiary segment is presented as follows:
Increase (Decrease)
2023 2022 Nominal
Account Percentage
(IDR-billion) (IDR-billion) (IDR-
(%)
billion)
Profit (Loss)
Interest income - Net*) 632 412 220 53.4
Premium income - Net 1,659 1,552 107 6.9
Other operating income 872 729 143 19.6
Establishment of impairment reserve (125) (111) (14) 12.6
Other operating expenses (2,444) (2,142) (302) 14.1
Operating profit 594 440 154 35.0
Non-Operating Income (Expense) - Net (111) (103) (8) (7.8)
Income Before Tax Expenses 483 337 146 43.3
Tax expense (62) (26) (36) 138.5
Net profit 421 311 110 35.4
Financial Position
Total Assets 46,283 38,120 8,163 21.4
Total Liabilities 32,940 25,954 6,986 26.9
*) includes internal transfer pricing components between operating segments
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Subsidiary Segment Prospects, Potential and Strategies • Optimizing potential and penetration into the BNI
for 2024 for the Future group and hibank customers.
• Optimizing penetration potential to BSI customers.
BNI Life b. Expand Non Bancassurance business
When developing strategies for the coming year, the • Increasing market penetration to jumbo customers
Company considered potential changes that will occur in and small and medium business segmentation.
the insurance industry. Several issues used as parameters • Improving Managed-Care products to be more
for preparing BNI Life’s strategy included the unstable competitive.
market conditions and geopolitical issues disrupting the • Cross Selling individual businesses with corporate
world economy. In addition, 2024 is also a political year customers.
that can influence economic movements in the country. • Recruiting experienced Agency agents.
BNI Life must adapt and prepare strategies in the form of c. Digital and Partnerships
a mature business plan and anticipate changes that may • Expanding new partnerships in digital and non-
occur in 2024. digital businesses.
• Optimizing digital referrals (website, mbanking).
In response to this, the Company continues to improve the • Optimizing the BLife “Digital Friends” Plan.
digital-based business processes, as well as continuous
improvements in operational areas to make it easier for BNI Sekuritas
people to receive insurance protection.The main strategies Over the coming year, BNI Sekuritas will continue to provide
for BNI Life in 2024 are as follows:: the best solutions for clients and customers and improve the
1. Increase regular premiums and focus on selling Company’s position in the country’s capital market industry.
profitable products. BNI Sekuritas’ business strategy which to be implemented
The Company will be active by: in 2024 will focus on developing solutions and services,
a. Improving its product mix marketing development and synergy with the BNI Group
• Focusing on selling regular and profitable in a number of Company businesses including Retail
products (superior products). Brokerage, Institutional Equities Brokerage, Institutional
• Revamping/re-pricing product management Fixed Income Brokerage, as well as Securities Underwriting
policies. and Advisory.
• Reviewing product profitability (onerous
products). BNI Finance
• Developing competitive digital products. Over the coming year, BNI Finance will continue to focus on
new car financing as it sees the potential for new car sales
b. Increase persistence and productivity which increased throughout 2023. In 2024, BNI Finance will
• Improving the Business Conservation function carry out branch expansion by increasing cooperation with
to optimize persistence and renewal. dealers and ATPM, strengthening collection management
• Retention program for customers. and strengthening synergy with the parent and group.
• Increasing marketer productivity and capabilities In terms of business processes, BNI Finance will digitize
(including digital capabilities). existing business processes so they become more effective
• Utilizing Database Modeling in the telemarketing and efficient.Through these strategies, in 2024 BNI Finance
business can be included in the top 15 finance companies with assets
• Marketing program to improve sales performance. of 5-10 trillion.
2. Improve business models and market development BNI Remittance
(non-captive expansion) Currently BNI Remittance together with BNI KLN Hong
The Company will be active by: Kong is conducting a comprehensive study to prepare for
a. Bancassurance Optimization business transformation.This is being done as a responsive
• Adopting the New Way of Working (NWOW) step to changes in customer transaction patterns in Hong
carried out by the Parent Company. Kong. In 2024, the target for business transformation will be
• Optimizing the distribution model through carried out so that efficient business patterns and increasing
product expansion, improving the premium market share in the remittance business in Hong Kong can
payment system, and bank sales training be executed well.
• Increasing the competitiveness of credit life
products.
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hibank 5. Loan Growth with Prudential Principles: Loan
Over the coming year, hibank will continue its transformation distribution growth will continue to pay attention to
journey and commitment to ensuring sustainable business prudential aspects, by mitigating risks and maintaining
growth, as well as focusing on growth in the Micro, Small healthy and productive asset quality.
and Medium Enterprises (MSME) segment. hibank’s 6. Increasing Customer Transactions through Digital
business development strategy for 2024, designed with Banking:
full confidence, is to ensure the achievement of its vision The Bank will increase individual and corporate
and mission, and includes: customer transactions through digital platforms,
providing modern and responsive banking service
1. Selection of Business Model using the Community solutions.
Ecosystem Approach:
hibank will choose a business model with an approach All of these steps will be taken with the belief that Hibank
that involves the community ecosystem to foster more will continue to develop and make a positive contribution
collaboration and sustainable partnerships. to MSMEs and society in general.
2. One-stop Shop for the MSME Chain:
Through a one-stop shop approach, hibank will provide BNI Ventures
a comprehensive range of solutions for the MSME In line with the growth of the Company’s organization and
chain, which is expected to build customer loyalty industrial development, BNI Ventures plans 4 (four) work
through the convenience and satisfaction provided. programs which are planned to be implemented during
3. Optimizing and Refining Business Processes: As part 2024.The four work programs are investments with added
of its efforts to improve services, hibank will continue value synergies, issuance of venture fund instruments,
to optimize and perfect its business processes, as well synergy activities along with innovation programs, and
as adjust policies to support business growth. other strategic actions.
4. Strengthening Digital and IT Capabilities:
To answer the digital era challenges, hibank will focus on The investment activities carried out will be driven by
strengthening and developing digital and IT capabilities. potential synergies that can provide added value between
Bank as a Service (BaaS) is the main focus to provide prospective investees and BNI Group business units.
better services to customers. Investments can be made using direct share purchase
5. Innovative and Adaptive Company Culture: instruments, convertible bonds, or other instruments agreed
For developing business, hibank will foster a Company upon by the parties. The investment process carried out
culture that encourages innovation and adaptability to still takes into account the company’s internal procedures
create an environment that supports the development and applicable authority regulations. Apart from that, the
of creative ideas. principle of prudence continues to be prioritized through
strengthening risk management and portfolio management.
To support business growth in line with the Vision and
Mission, the following summarizes the Bank’s optimistic BNI Ventures is also preparing to issue venture funds,
and hopeful work plans and initiatives for 2024: as one of BNI Ventures’ efforts to increase its investment
scale by collaborating with strategic partners. Apart from
1. Focus on Loan Growth to MSMEs. Loan distribution to that, venture funds can also become a source of new,
support the Bank’s business growth will be carried out sustainable income which will be managed separately
selectively, with a focus on growth in loan provision with an independent and prudent structure. Not to mention,
to MSMEs. The Bank also plans to distribute Pay-Later by issuing venture funds, BNI Ventures can also expand
loans in 2024. the diversity of its investment portfolio in other sectors
2. Target Market using a Community Ecosystem Approach: that have the potential for better returns in the market in
Hibank will work on the target market using a accordance with the venture fund theme.
community ecosystem approach, through various
channels, including branch office networks, value chains As one of the players in the industry, BNI Ventures does
and digital channels. not fail to actively participate in developing the industry
3. MSME Orchestration via Hi!Platform: through synergy activities and innovation programs that
The Bank will become an orchestrator for connecting will be carried out, especially in 2024. Various innovation
MSMEs via Hi!Platform. This is expected to create a program plans are being prepared to increase the capacity
large MSME market, provide education and financing and capabilities of players in the industry. Some of the
through this innovative platform. innovation program plans are incubators, accelerators
4. Optimizing Synergy with BNI Group and Mayora Group: and venture builders. This provides an indication that BNI
Through close collaboration with BNI Group and Ventures will seriously encourage the creation of innovation
Mayora Group, Hibank will maximize the potential for and industrial trends that have an impact on the maturity
synergy and collaboration to increase competitiveness and independence of start-up business actors in Indonesia.
in the market.
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Apart from that, as an agent of change within the BNI Group, BNI Ventures also helps realize the targets and objectives
of Bank BNI as the parent company through mandated strategic actions. Several strategic actions have been mandated,
one of which is the transfer of Finarya share ownership from BNI Sekuritas to BNI Ventures. Apart from being a form of
investment vehicle management at BNI, this transaction also provides proof that BNI is fully committed to realizing the
government’s policy direction to increase and optimize the potential of the digital economy in Indonesia.
What they are saying
BNI Life BNI Sekuritas
Ibu Agung Rachamawati
BNI Life Plan Multi Protection Arifin
Doctor, 52 years old
BNI Life proved its commitment to customers by “I appreciate the services provided by BNI Sekuritas
paying the insurance money for death claims of in providing a comprehensive understanding and
IDR1,130,061,144 for the BNI Life Plan Multi Protection analysis on the stock market.The information provided
(BLPM) life insurance products to the customer’s through Morning Investview by communicative
heirs. The handover was carried out symbolically and informative Sales was very helpful in making
by BNI Emerald Relationship Manager Doni Irawan, investments and trading based on my risk profile.
accompanied by Regional Branch Manager BNI Life The friendly BIONS trading platform for users also
region 01 Hesty at the residence of the heirs of JI makes it easier to execute transactions quickly and
Beringin - Medan. accurately, thereby providing a pleasant investment
experience.”
The customers’ heirs expressed their deepest
gratitude for the service provided through an easy
insurance claim disbursement process.
BNI Multifinance
Marniati
BNI Life Plan Multi Protection
PT BNI Life Insurance (BNI Life) proved its
Lisa – Pontianak Branch
commitment by paying the insurance money for
Clothing Store Owner
death claims and cash amounting to IDR. 548,130,538
to the customer’s heirs.The handover was carried out
symbolically by the Deputy Branch Manager of BNI
Cilegon KC, Ela Ratna Yuwita accompanied by the BNI Finance is really good...! The service is okay and
Regional Business Head of BNI Life Region 14, Kiki the marketing is friendly. The process is also fast.
Oktavia at BNI KC Cilegon.
The customer’s heirs expressed their deepest
gratitude for the service provided through the easy
insurance claim disbursement process. BNI Life must
prioritize customer satisfaction and be present to
provide comprehensive life protection and become
the life insurance company of choice for the public.
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BNI Multifinance BNI Remittance
Muhammad Firman Akhsani, Amd.Im, SH, MA
Junior Consul for Immigration at the Indonesian
Jaka Indra Pratama Consulate General in Hong Kong)
South Tangerang/Ciputat Branch Private Employees
Thank you to BNI Remittance Ltd. (BRL) Hong Kong
Easy and fast process, light interest. Hopefully BNI for excellent service that is very adaptive, both
Finance will be the best in Leasing during the Covid-19 pandemic and in the current era.
Hopefully the BRL will continue to help all Indonesian
citizens in Hong Kong in all professions, including PMI,
students, employees of the Indonesian Consulate
General and BUMN, as well as other Indonesian
diaspora.
Mochamad Fahruroji
South Tangerang/Ciputat Entrepreneurial Branch
Etik Susmiati Sulianto
I am a customer of BNI Finance Ciputat branch. I Indonesian Migrant Workers (PMI) Hong Kong)
have processed 10 units at BNI Finance Ciputat,
including LMPV and premium cars, and surprisingly
it turns out that the process at BNI Finance is very I know BNI Remittance Ltd. (BRL) Hong Kong started
commensurate, from low interest rates, fast, flexible in 2017 and since then I have been a loyal customer. I
processes, friendly & informative and experienced experienced lots of amenities and facilities, including
surveyors, made it very helpful for me. Especially opening an account online, the existence of BNI ATM
in the business sector I work in, namely car rental, machines in Hong Kong and BNI Mobile Banking
called CV Najib Jaya Rental/PT Fahru Najib Rental that can be accessed from Hong Kong. This of course
Indo. Thank you BNI Finance Ciputat. makes BNI Remittance Ltd. the main choice for PMIs
in Hong Kong. BNI Remittance Ltd. also provides
education for PMIs about how to wisely manage
salaries and finances as well as learning about skills
and entrepreneurship to prepare them for returning
home later.
Muhammad Ibrahim Al Asy’ari
Yogyakarta Branch Entrepreneur
Very satisfying, Top Service
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Hibank BNI Ventures
Liana Inten Bisma Manda Samsu
Director of PT Sugeng Jaya Metal Autoparts CEO and co-founder
As an MSME entrepreneur, I have been a loyal “Kecilin, as a software-based technology startup
customer of Bank Mayora for many years, and I am for low bandwidth livestream, data transfer and
very satisfied with their service to date. Banking computer vision AI for enterprises, is proud to be
products that suit my needs and friendly customer part of the BNI Ventures family. We appreciate the
service have made me feel valued as a customer. After collaboration established with BNI Ventures that
rebranding to Bank hibank, I am optimistic that the encourages the value of synergy between Kecilin
services I have enjoyed will continue to improve. I and the BNI group and other strategic stakeholders.
hope that the new innovations promised by Bank “We hope that the ongoing collaboration between
hibank will provide even greater added value for my Kecilin and BNI Ventures will continue to provide
small business. added value for each party and for the Indonesian
technology ecosystem at large.”
Indra Wijaya Sarah So
Owner of Budi Rice Shop COO & Co Founder Rukita
I have warm memories of Bank Mayora over the “BNI Ventures team is top notch and professional.
years, especially in managing the accounts that They work fast and can pinpoint the right questions
helped my business grow rapidly. Now that Bank and understand the business very well. We love
Mayora has been rebranded as Bank hibank and working with the team and are profoundly excited
has become a subsidiary of BNI, one of the largest about the journey ahead and the boundless
leading state-owned banks in Indonesia, it gives opportunities within our collaboration!”
me hope that there will be even greater progress
from hibank. I am pleased to see that Bank Hibank is
committed to improving the customer experience and
is also focused on encouraging the development of
Indonesian MSMEs through its digital products. I am
sure that in the future, the technological innovations
brought by hibank will make the banking services
more efficient and easier to access.
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Geographical
Segment
In addition to presenting operating segments based on main customer groups and products, BNI’s Audited Financial
Report also presents geographic segment information that can provide an overview of BNI’s business distribution. BNI’s
geographical segment is divided into Indonesia, the United States, Europe and Asia.
To provide an overview of the distribution of business from geographical segment, the following shows the contribution
per region to BNI’s interest income and total assets.
Interest Income - Net Composition per Geographic Segment
2023 2022 Increase (Decrease)
Segment Total Composition Total Composition Nominal Percentage
(IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%)
Indonesia 40,235 97.5 39,682 96.0 553 1.4
United States of America 352 0.9 438 1.1 (86) (19.6)
Europe 86 0.2 320 0.8 (234) (73.1)
Asia 629 1.5 973 2.4 (344) (35.4)
Adjustment and Elimination (26) (0.1) (92) (0.2) 66 (71.7)
Total Interest Income - Net 41,276 100.0 41,321 100.0 (45) (0.1)
0,2% 1,5% 0,8% 2,4%
0,9% 1,1%
2023 2022
97,5% 96,0%
Indonesia United States of America Europe Asia
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Bank Assets Composition per Region
2023 2022 Increase (Decrease)
Segment Total Composition Total Composition Nominal Percentage
(IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%)
Indonesia 995,001 91.6 937,500 91.0 57,501 6.1
United States of America 24,964 2.3 22,953 2.2 2,011 8.8
Europe 10,200 0.9 16,341 1.6 (6,141) (37.6)
Asia 64,844 6.0 58,883 5.7 5,961 10.1
Adjustment and Elimination (8,345) (0.8) (5,840) (0.6) (2,505) 42.9
Total Assets 1,086,664 100 1,029,837 100.0 56,827 5.5
5,7% 6,0%
1,6% 0,9%
2,2% 2,3%
2022 2023
91,0% 91,6%
Indonesia United States of America Europe Asia
From the above tables and graphics, it can be seen that in 2022 the Indonesian region made a major contribution to
the Bank’s interest and sharia net income, and also to the Bank’s total assets. The contribution of the Bank’s net interest
income in 2023 outside the Indonesian region decreased by IDR665 billion, or 38.4% compared to 2022. Meanwhile, the
regional contribution to Bank assets in 2023 by regions other than the Indonesian region was dominated by the Asia
Region with IDR64.8 trillion or 6% of total assets Bank.
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The following shows the financial performance by geographic segments for 2022-2023.
Indonesia United States of America
2023 2022 Increase (Decrease) 2023 2022 Increase (Decrease)
Account
(IDR- (IDR- Nominal Percentage (IDR- (IDR- Nominal Percentage
billion) billion) (IDR-billion) (%) billion) billion) (IDR-billion) (%)
Profit (Loss)
Interest income - Net 40,234 39,682 552 1.4 352 438 (86) (19.6)
Premium income - net 1,659 1,551 108 6.9 - - - -
Premium income - Net 19,743 18,298 1,445 7.9 41 106 (65) (61.3)
Establishment of
allowance for impairment (9,142) (11,416) 2,274 (19.9) 20 (53) 73 (137.7)
losses
Other operating expenses (27,140) (26,548) (592) 2.2 (287) (281) (6) 2.1
Operating profit 25,354 21,567 3,787 17.6 126 210 (84) (40.0)
Non-Operating Income
(131) (201) 70 (34.8) - (0) - -
(Expense) - Net
Profit Before Tax Expenses 25,223 21,365 3,858 18.1 126 209 (83) (39.7)
Tax Expenses (4,534) (4,205) (329) 7.8 - - - -
Net Profit 20,690 17,160 3,530 20.6 126 209 (83) (39.7)
Financial Position
Total Assets 995,001 937,500 57,501 6.1 24,964 22,953 2,011 8.8
Total Liabilities 834,842 792,616 42,226 5.3 25,143 23,093 2,050 8.9
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Europe Asia
Increase (Decrease) Increase (Decrease)
2023 2022 2023 2022
(IDR-billion) (IDR-billion) Nominal Percentage (IDR-billion) (IDR-billion) Nominal Percentage
(IDR-billion) (%) (IDR-billion) (%)
86 319 (233) (73.1) 629 973 (344) (35.4)
0 - - - - - - -
180 308 (128) (12.8) 390 534 (144) (27.0)
(23) (13) (10) 76.9 (52) (32) (20) 62.5
(195) (118) (77) 65.3 (625) (619) (6) 1.0
48 496 (448) (90.3) 342 856 (514) (60.0)
(1) (1) - - 1 (7) 8 (114.3)
47 495 (448) (90.5) 343 849 (506) (59.6)
0 - - - - - - -
47 495 (448) (90.5) 343 849 (506) (59.6)
10,200 16,341 (6,141) (37.6) 64.844 58,883 5,961 10.1
10,352 16,498 (6,146) (37.3) 65.398 59,527 5,871 9.9
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Digital
Banking
Digital technology disruption is something that cannot be Based on data from Bank Indonesia (BI), digital financial
avoided and has created great potential for all industry transaction performance remained strong in the third
players, one of which is banking, in this case BNI. BNI’s quarter of 2023, where digital banking transactions recorded
retail and wholesale segments digital channel transactions IDR15,148.71 trillion, a growth of 12.83% (yoy). Nationally,
have increased significantly over the last few years. This the development of digital banking transactions in Indonesia
shows that BNI is in line and taking advantage of the digital continues to see a significant increase. In October 2023, the
disruption momentum. Electronic Money (EU) transactions increased by 10.34%
(yoy) to reach IDR116.54 trillion. Nationally, the nominal
As one of its digitalization strategies, BNI creates digital payment transactions via QRIS have grown by 87.90% (yoy)
innovations and initiatives on an ongoing basis through to reach IDR56.92 trillion, with 41.84 million users and 29.04
quality digital products that provide added value for million merchants, dominated by MSMEs.
customers from different segments, not only in providing
basic banking services but also “Beyond Banking” services BNI presents to the retail and wholesale segments digital
that meet people’s daily and thematic needs in collaboration advantages through several channels, including BNI Mobile
with various ecosystem partners. BNI’s digital product Banking, BNIDirect, SMS Banking and Internet Banking
strategy also contributes to increasing the number of new and ATM/CRM. There are prominent features, such as
customers, increasing customer loyalty, sustainable income Online Debit, SMS Notification and Digital Card Issuance.
and third party funds. As well as financial benefits, digital Apart from the Company’s initiatives, BNI also supports
banking also improves accessibility, product diversification Government programs, especially Bank Indonesia, to
and the customer experience. In addition, digitizing encourage accelerated digitalization of payment systems,
business processes is useful for simplifying business and to expand cooperation to encourage financial economic
processes and opening up new business potentials to inclusion and expand the digital economy and finance.
increase efficiency at BNI.
Digital Banking Products and Services for
Apart from being internal, BNI’s digital initiatives are Consumers
also carried out to support the 2025 Indonesian Payment
System Blueprint issued by Bank Indonesia, to encourage 1. ATM/CRM
the payment industry to undergo digital transformation This Banking service channel is ready to facilitate
within the framework of developing open banking, data customers 24 hours a day to conduct cash withdrawals
openness, improving the retail payment system, and (Cash Recycle Machine/CRM), balance checks, transfers,
interlinks between banks and digital financial services. payments and purchases. As of December 31, 2023,
BNI had 13.390 ATM/CRM machines, including 2,723
To support customer convenience in carrying out banking ATMs for people with disabilities throughout Indonesia,
transaction activities, BNI has flagship products called connected to ATM Link, Merah Putih, Bersama, Prima,
BNI Mobile Banking for retail customers, and BNIDirect Alto networks, and international networks such as
for wholesale customers. These two flagship products Mastercard, Visa, JCB, APN, Union Pay and Cirrus.
have won national and international awards. They contain
customer-centric features to adapt to customer needs for
their daily activities. These various digital products are
supported by powerful IT capabilities, advanced data
analytics and Open APIs connected to third party services.
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ATM Performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Number of Transactions (million) 1,189 1,373 (184) (13.4)
Transaction Volume (IDR-million) 630,59 675,85 (45,26) (6.7)
BNI’s development can accommodate the public’s needs for digital channels, with one of the conventional channels, ATM/
CRM currently experiencing a decline in transactions, showing that a shift in behavior is occurring, partly due to the fact that
the use of digital channels continues to grow, especially through the use of mobile banking to accommodate daily needs for
loan payments, electricity tokens and e-commerce payments. In addition, in the current era of digitalization, many people
are moving towards cashless transactions, where many people, especially in big cities, no longer depend on using cash for
transactions. However, to accommodate the needs of certain segments that have not yet shifted, development continues to
be carried out. In this case, the development of the ATM/CRM channel is carried out in collaboration with other parties to meet
the quite high transaction needs.
Currently, the development of the ATM/CRM channel focuses on developing joint partnerships with third parties such as
e-Commerce partners and BPDs in Indonesia that provide cardless cash withdrawal banking services and other services. The
development of the ATM/CRM channel is also focused on developing the CRM channel, where customers can make cash
deposit and withdrawal transactions without needing to go to a branch. In the long run, the use of this CRM channel makes it
easy for customers to transition from cash to digital transactions, thereby creating a cashless society supported by BNI digital
banking products.
2. BNI SMS Banking
BNI SMS Banking is a banking service facility that can be used by customers for transfers, payments and purchase transactions,
which can be accessed via the BNI SMS Banking application (for Android & iOS based smartphone users), SMS Syntax
and USSD access *141#. The SMS Banking service provides banking transaction inclusiveness and convenience for BNI
customers who want to make financial transactions, but are in areas that have low internet connectivity.
SMS Banking Performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Users (millions) 12,70 12,60 0,1 0.8
Number of Transactions (million) 660,2 697,8 (37,6) (5.4)
Transaction Volume (IDR-billion) 16,8 27,1 (10,3) (38.0)
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As a channel that can accommodate customer transactions 3. BNI Internet Banking
without using quotas, SMS banking is still the option chosen Apart from smartphone users, BNI digital banking
by customers when carrying out transactions such as services are also available for PC/laptop users.Through
transfers both to BNI and between banks, BIFAST, e-wallet BNI Internet Banking, customers can enjoy banking
top ups, and bill payments. As infrastructure develops to service channels that can be accessed via a web
reach rural areas such as villages, this factor will have an browser with the BNI Internet Banking URL. Not only
impact on the decreasing use of SMS banking. However, transactional services, BNI Internet Banking also has
this is not an excuse for BNI not to pay attention to this a flagship feature in the form of Personal Financial
channel as it is an optional channel that can accommodate Management that allows customers to make financial
customer needs in areas without adequate internet access. plans according to their needs, complete with automatic
So development of UI/UX was carried out in 2023 to provide deposit scheduling, and can be used to monitor
the same experience for customers when accessing the cash flow and trends in spending/incoming funds in
BNI channel on their smartphone. graphical form. BNI Internet Banking is also equipped
with security standards that use two types of financial
transaction authorization tools, namely BNI e-Secure
and BNI m-Secure based on customer needs when
conducting business transactions.
Internet Banking Performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Users (millions) 2,22 2,18 0,04 1.89
Number of Transactions (millions) 13,61 16,67 (3,06) (18.36)
Transaction Volume (IDR-billion) 29,50 39,06 (9,56) (24.48)
Up until the end of 2023, the number of users increased by 2.22%, but the number and volume of transactions showed
that individual customers have switched to BNI Mobile Banking. Individual customers no longer choose this channel
as their main option for transactions, and supported by changes and growing infrastructure, have the potential to take
advantage of banking services and products offered by BNI to support their financial transactions.
4. BNI Mobile Banking
BNI Mobile Banking is a BNI digital banking application that provides convenience for individual customers to carry
out transfer transactions, investments, insurance membership registration, bill payments, credit card transaction
inquiries, and new credit card applications in one application. BNI Mobile Banking also provides information on
promos and service features that customers can enjoy. Currently, BNI Mobile Banking is available on iOS and Android
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devices and can be activated and used for transactions overseas. With a rating of 4.6 on Google Play, and 4.7 on the
App Store, BNI Mobile Banking has proven successful in providing easy transactions anywhere and anytime. This
transactional capability, in the end, encourages inclusive and sustainable banking, especially for customers in rural
areas and overseas.
Mobile Banking Performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Users (millions) 16,28 13,63 2,65 19.40
Number of Transactions (millions) 1.042,86 596,97 445,89 74.69
Transaction Volume (IDR-billion) 1.215,98 802,48 413,49 51.53
With the growth in performance of BNI Mobile Banking in terms of users and transactions, this demostrates that BNI’s
continued development in terms of features and business in collaboration with superior partners, has had a positive impact
on society, especially BNI customers. BNI Mobile Banking is BNI’s flagship product that makes it easier for customers
to make transactions anywhere and anytime. The features that BNI customers use most are inter-bank transfers, telco
purchases/payments and utilities. This significant increase occurred because the BNI Mobile Banking product has value-
added features, such as a digital account opening feature, fast payments with QRIS Payment, cardless cash withdrawals
both at ATMs and BNI partners such as Alfamart and Indomaret, investments, foreign exchange transactions in your own
account via FX Mobile, International Transfer, Lifestyle such as ordering taxis (Bluebird) and fast trains (Whoosh), and
these provide convenience, speed and comfort in customer transactions.
In the future, BNI Mobile Banking will continue to innovate to be even better, especially in providing services to customers
that suit their personas, which will help in fulfilling customers’ daily banking activities and transactions.
5. BNI Credit Card Mobile
Apart from using the Mobile Banking application, BNI credit card services can also be accessed via the BNI Credit
Crad Mobile application, an application that makes it easier for credit card holders to access their transaction
information via smartphone. BNI Credit Card Mobile is equipped with features such as billing information, recording
transactions, installment conversions, bill payments and insurance registration, cash withdrawals, as well as credit
limit increase application services, and data updates and new credit card applications. BNI Credit Card Mobile also
provides information on BNI Credit Card promos and products.
6. E-KYC Biometric Face Recognition & Liveness
Using the Biometric Face Recognition & Liveness feature as e-KYC in the digital credit card application process provides
convenience, security and comfort for prospective card holders in the credit card application process.
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7. Digital Card Issuance Giro IDR Individual account holders. Through SMS
Issuance of Digital Credit Cards for those applying for Notifications, customers will be informed about all
BNI credit cards via digital channels, so that card holders financial transactions that occur in their accounts, and
can use their digital credit cards to make transactions help prevent potential unauthorized transactions.
at e-commerce merchants or carry out transactions at
BNI Mobile Banking. 12. BNI Debit Online
8. Virtual Card Number for BNI Credit Card BNI Debit Online (BDO) is a method of paying for
The BNI Credit Card feature is an effective and efficient online transactions using a Virtual Card Number (VCN)
alternative payment for credit card transactions that requested via BNI Mobile Banking, thus providing
provides comfort and convenience in online transactions convenience for customers making transactions.
(card not present) using a unique virtual number as a The Virtual Card Number also increases the security
replacement for the original credit card number used of customer accounts by preventing the customer’s
in the BNI Corporate Credit Card. original debit card number from being known by third
9. QRIS Source of Funds for Domestic parties.
Government Credit Cards (KKPD) 13. BNI Agen46
The QRIS payment feature with Domestic Government BNI Agen46 are BNI’s partners that provide banking
Credit Card funding sources using BNI Mobile Banking services to the community in the context of financial
aims to facilitate operational spending and work unit inclusion. BNI Agen46 are also partners in Government
(Satker) official travel, both at the central and regional programs, such as the distribution of social assistance
levels with the Government Credit Card (KKP) payment and subsidies for beneficiary families.
scheme where processing is carried out through
domestic principals. Through BNI Agen46, banking transactions become
10. Fitur Contactless easier, faster and closer to the surrounding community,
With the Contactless feature, card holders can make especially in rural areas that are not yet reached by
transactions easily, quickly and safely by simply holding banking services. With the number of agents continuing
or tapping their credit card on the EDC Contactless to increase every year, BNI Agen46 act as an extension
machine, without having to use a PIN (certain nominal of the BNI channel so at to exploit the business potential
amount).Transactions can be made at any time by card of the surrounding community, such as the potential for
holders at merchants displaying the contactless symbol. TPF receipts through Smart Savings, making banking
11. SMS Notifikasi transactions such as payments and purchases, and
An information service for customers’ banking can be used for potential referral transactions for the
transactions delivered via SMS to the mobile number distribution of People’s Business Loans (KUR).
registered by the customer for notification of customers
debit/credit transactions, especially BNI Taplus/BNI
BNI Agen46 Performance
Increase (Decrease)
2023
2022 Percentage
Desember Nominal
(%)
Number of BNI Agen46 (agents) 185,697 164,979 20,718 12.6
Transaction Volume (IDR-million) 85,49 83,02 2,47 3.0
Fee Based Income (IDR-millions) 92,15 72,38 19,77 27.3
TPF BNI Agen46 (IDR-trillion) 3,65 2,71 0,94 34.7
As an alternative banking transaction channel, the number of BNI Agen46 continues to increase and expands the reach
of banking transaction services to the public. In 2023, the number of BNI Agen46 grew by 12.6%, in 6,000 districts
and 35,500 sub-districts/villages throughout Indonesia.
The number of transactions generated by BNI Agen46 in 2023 grew by 3% (yoy) with the dominant transactions
being transfers, cash withdrawals, credit purchases, electricity payments and travel ticket purchases. This also helped
increase BNI Agen46 Operational TPF which grew by 34.7% (yoy) in 2023. Supported by the increasing number of
chargeable transactions carried out at BNI Agen46, this had a positive impact on Fee Based Income which grew by
27.3% (yoy) in 2023.
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Looking forward, BNI Agen46 is targeted to expand the number of agents by more than 30%, fee based income by
more than 50% from its position in December 2023 with a focus on expanding to qualified BNI Agen46 candidates to
generate fee based income through transactions by customer-based agents. This massive increase in BNI Agen46’s
business has to be balanced with system development for strengthening cooperation with super agent partners and
strengthening marketing campaigns.
14. BNI TapCash
In addition to the digital banking services that BNI already operates, as part of the all-in-one digital financial ecosystem,
BNI has a superior card-based electronic money product, called BNI TapCash. There are several advantages of BNI
TapCash, namely:
a. The transaction experience is just a matter of tapping
b. Fast transaction speed
c. Ease of BNI TapCash top up channels through several BNI channels including BNI Mobile Banking, ATM/CRM,
EDC, and BNI Agen46, as well as strategic partner channels such as Tokopedia, Shopee, Gopay, LinkAja, Blibli,
Indomaret, Alfagroup, and other strategic partners.
d. Acceptance of BNI TapCash cards in payment ecosystems, such as tolls, parking, transportation (KRL, LRT, MRT,
TransJakarta), modern retail stores (Alfagroup, Indomaret), tourist attractions, Government institutions and other
payment ecosystems.
TapCash Performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Number of Transactions (million) 92,83 56,68 36,15 63.79
Transaction Volume (IDR-billion) 2.258,95 1.530,50 728,46 47.60
Up until December 2023, BNI recorded an increase in BNI TapCash transactions. During 2023, the number of BNI
TapCash transactions reached 92.83 million, an increase of 63.79% (yoy), and transaction volume also increased by
47.60% (yoy) to reach IDR2,258.95 billion. Community movement during Eid was one indicator of an increase in BNI
TapCash transactions, when the volume of BNI TapCash card use increases for transportation used for going home,
and in toll roads, rest areas and tourist attractions.
The increase in BNI TapCash card transactions was due to a number of factors, including, firstly, BNI has just released
a special edition of BNI TapCash, called TapCash NCT 127, NCT Dream, Red Velvet and Super Junior editions in line
with the huge interest from the KPOP community in Indonesia, and BNI has also collaborated with the Regional
Development Banks (BPD) and other institutions to provide non-cash services through BNI TapCash. Secondly, BNI
continues to expand to new merchants such as Food and Beverage (F&B) and entertainment merchants.
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15. BI-FAST
BI-Fast is Bank Indonesia’s payment system infrastructure to facilitate retail payments that can be accessed at any time.
BNI as a SOE has been a BI-Fast participant since it was first launched in 2021. BNI as one of the state-owned banks
has become a participant to support the creation of an integrated, interoperable and interconnected digital ecosystem.
To improve services, in 2024 new features were added in the BI-Fast transaction system, including:
a. BI FAST API development: carried out to facilitate interbank transfer services using the BI FAST scheme based to
standards issued by Bank Indonesia (SNAP API).
b. Direct Debit: A feature designed to make it easier for customers to pay monthly bills with autodebit, bill payments
can be made inclusively between banks so that it is simpler and can be done automatically via the BI-Fast platform.
c. RFP (Request for Payment): A feature that allows customers to easily make requests to transfer funds to other
customers. This smoother process is expected to reduce difficulties in daily financial transactions.
Benefits of these innovations include:
a. Fast: More efficient transactions allowing time savings.
b. Easy: Intuitive user interface making it easy to carry out transactions.
c. Cheap: Competitive transaction fees for all payment types.
d. Safe: Latest security features to protect customer data and funds.
e. Reliable: A stable and reliable system for all financial transactions.
BI FAST performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Total Transactions (million) 361,86 107,07 254,78 237.95
Transaction Volume (IDR-million) 975.821,26 317.768,17 658.053,08 207.09
During 2023, total BI-Fast transactions increased by 237.95% with an increase in the total nominal transactions reaching
207.09% compared to the previous year, thus showing an increasing adoption and trust of customers in fast and efficient
payment systems. The significant increase in BI-Fast services usage is in line with efforts to improve systems and
services for customers. The strategy to increase BI-FAST transactions includes improving technological infrastructure,
and increasing security features.
16. BNI Merchant Business
BNI’s Merchant Business services consists of Electronic Data Capture (EDC), Quick Response Code Indonesian
Standard (QRIS) and Online Merchant transactions (Acquiring Online) as part of increasing the digitalization of
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financial transactions, especially retail transactions. One To increase QRIS transactions, BNI has collaborated with
of BNI’s strategies to develop its merchant business is strategic partners such as Government institutions (for
acquisitions at hype locations in Indonesia, and excellent example: Ministry of Finance and BPJS Employment),
after sales service. fintech, educational ecosystems, hospitals, markets,
and others.
The BNI EDC network serves payment transactions using
payment instruments in the form of cards (debit, credit In terms of products, BNI is also innovating with new
and prepaid cards) and QRIS.The BNI merchant network products including QRIS TUNTAS (Transfer, Withdraw
has wide acceptance, and is a collaboration between and Cash Deposit), which allows users to transfer
BNI and global principals such as VISA, MasterCard, funds between QRIS users via BNI Mobile Banking,
JCB, American Express (AMEX), China UnionPay, and as well as make cash withdrawals and cash deposits
the National Standard, called the Nusantara Payment at ATM/CRM, BNI Agen46 and Partners. In addition,
Gateway (GPN). to facilitate international transactions via QR, BNI will
launch a QR Cross Border product to make it easier
In addition, BNI offers superior services such as for BNI customers to carry out QRIS-based payment
payments via BNI QRIS using the National QR code transactions in countries such as Thailand, Malaysia,
standard. With QRIS, BNI Merchants can receive Singapore (following countries such as Japan, Vietnam,
payments from the BNI Mobile Banking application Brunei Darussalam, India, China and South Korea).
or from other payment service providers (other bank
applications, e-wallet applications such as Gojek, DANA, BNI also supports merchant convenience through the
etc.). There are 2 types of QRIS payments used at BNI, BNI Merchant application that offers several superior
namely: features such as same-day merchant payments,
a. Merchant Presented Mode (MPM), where QR digital merchant registration, transaction notifications
customers at BNI Merchants can transact using in real time transaction reports, and biometric login
all application providers connected to the QRIS capabilities.
network.
b. Customer Presented Mode (CPM), where BNI Mobile As well as EDC and QRIS, BNI also has Online Acquiring
Banking customers can make QRIS transactions at products, services provided to e-commerce merchants
all QRIS network merchants by simply scanning or online merchants. Through online acquiring,
the QR code generated by the BNI Mobile Banking customers can carry out different types of transactions
application. such as purchasing goods and services online and other
services.
QRIS Performance
Kenaikan (Penurunan)
2023 2022 Persentase
Nominal
(%)
Total Transactions (million) 60,52 15,93 44,59 279.93
Transaction Volume (IDR-million) 6.947,88 2.917,02 4.030,86 138.18
BNI saw a rapid growth in QRIS transactions in line with the increase in digital payment transactions. Up to December
2023, QRIS transactions grew by 279.93% (yoy), and transaction volume grew by 138.18%, to reach IDR6,947.88 billion
(yoy). BNI will continue to expand the network and cooperation in using QRIS through BNI Mobile Banking and QRIS
merchant acceptance.
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Merchant Business Performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Total Transactions (million) 128,1 99,5 28,6 28.7
Transaction Volume (IDR-million) 80.529,4 79.261,4 1.268,0 1.6
BNI recorded transaction growth of 28.7% (yoy) and Transaction Volume growth of 1.6% (yoy). This was achieved with
strategic partnerships with principal networks such as VISA, MasterCard, JCB, American Express (AMEX), China UnionPay,
and the National Standard called Nusantara Payment Gateway (GPN), as well as by expanding the merchant network
and excellent after sales services from BNI to support improving merchant business performance .
17. Source of funds credit card in BNI Mobile Banking
Customers can carry out BNI credit card transactions on BNI Mobile Banking using the QRIS feature & bill payment
feature that provides convenience & a better customer experience in carrying out transactions and paying bills using
credit card funding sources.
18. BNI DigiCS & DigiCS Lite
BNI DigiCS & DigiCS Lite are self-service machines that replace the need for Customer Service (CS) officers. With BNI
DigiCS & DigiCS Lite, customers can carry out CS activities independently (self-service). The features include account
opening, changing cards, unblocking debit cards, activating e-channels, resetting pins, purchasing and topping up
Tapcash, and printing account movements/history.
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With the DigiCS & DigiCS Lite services, CS officers in branches can focus on CS advisory and sales activities. This
service also reduces customer waiting time. Activities can be carried out quickly, easily and safely thanks to user
friendly technology.
The Digital Banking products and services for Consumers performance can be seen below.
E-Banking Users Composition
2023 2022 Increase (Decrease)
Composition Composition Nominal Percentage
Total (users) Total (users)
(%) (%) (users) (%)
Mobile
16,276,685 52,19 13,631,606 47,98 2,645,079 19.40
Banking
SMS
12,695,477 40,70 12,602,562 44,36 92,915 0.74
Banking
Internet
2,217,163 7,11 2,176,082 7,66 41,081 1.89
Banking
Total 31,189,325 100,0 28,410,250 100,0 2,779,075 9.78
Data presented based on the number of registered users in each product, does not take into account the possibility of customers registered as multi-product users.
7,40% 7,11%
47,98% 52,19%
2022 2023
40,70%
44,36%
Mobile Banking Internet Banking SMS Banking
By the end of 2023, for Digital Banking users, BNI mobile banking was the customers’ first choice for transactions,
showing that the programs and developments carried out by BNI are having a positive impact. This was carried out by
BNI to support Government programs and the Company’s internal initiatives to support economic growth in Indonesia
in the digital financial sector.
Digital Banking Products and Services for b. Liquidity Management
Corporations Solutions provided for non-individual customers
so that company/institutional financial cash flow
1. BNIDirect management can be maintained in an ideal
BNIDirect is an electronic channel provided by BNI position to meet the Company’s operational needs.
for non-individual customers to carry out financial Through BNI Liquidity Management, customers
transaction activities from customer accounts at BNI can easily manage the Company’s largest funds
more quickly, easily and safely. BNIDirect can be in BNI accounts in real time with the support of
accessed via the website or mobile app, where its an automatic sweeping mechanism, as well as
advantages are divided into 3 (three) functions, namely minimizing operation handling costs.
Payment Management, Collection Management, and c. Payment Management
Liquidity Management. Management of payment transactions from BNI
a. Collection Management which makes it easy for Institutional/Company
The collection process for product/service sales can Customers to make payments in a timely and
run effectively and efficiently, and identification of accurate manner.The need for reports on payments
sales results can be done quickly and accurately. of these obligations can also be obtained quickly
and in real time, so that customers will immediately
receive a recap of the required reports.
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BNI continues to adapt and develop capabilities in 3. BNIDirect Mobile
accordance with technology and increasingly developing BNIDirect Mobile is an additional channel to the website
customer needs. Apart from carrying out regular tech version of BNIDirect to facilitate customers making
refreshments, we carried out several feature developments transactions via a smartphone. Currently, the BNIDirect
during 2023, including: Change Device for Mobile Token, Mobile application is available for Android and iOS
and BNIDirect Mobile, BNIDirect Capacity Planning, Bill based smartphones. With the flexibility to access the
Payment Enhancement, and other innovations. BNIDirect channel, customers can carry out transactions
instantly and practically with high activity and mobility.
2. BNIDirect Overseas Branch Office (KLN) Transaction activities on BNIDirect can be monitored via
To support the of global business partners needs, the web version of BNIDirect and the mobile version.
BNI has expanded the scope of BNIDirect services Ease of access is enhanced with advanced security
with the launch of BNIDirect KLN at Overseas Branch features, including M-PIN and SMS OTP for every
Offices (KLN). BNIDirect KLN is designed to meet the transaction, making the business experience faster,
Diaspora transactional needs who want to develop their easier and more secure.
business, business customers with branches overseas,
as well as international customers who have business
partnerships in Indonesia.This platform allows them to
carry out transactions digitally without having to visit
a physical branch office. Currently, BNIDirect KLN has
been successfully launched in London and is currently
in the development stage for KLN Seoul, Tokyo and
New York.
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1. BNIDirect Advantages
• Fast
a. 24 hour internet access (for in-house transactions and online transfers).
• Easy
a. User Friendly.
b. Equipped with a transaction guide.
c. Can make transactions anywhere.
• Reliable
a. Secure Line with 128 bit Verisign Security Certification Socket Line (SSL).
b. Transaction authorization using Electronic Signature, namely BNI e-Source (Hard Token) or mobile token (soft token).
c. Equipped with company ID, User ID and password. The division of transaction authority consists of Maker, Approver and Releaser.
The Matrix feature is also available to set transaction authority and transaction limits.
• BNIDirect Features Advantages
a. Flexible menu that can be adjusted to customer needs.
b. The number of users can be set according to needs.
c. Authority access to features and accounts can be determined by the customer.
d. Transaction authorization is carried out with a dynamic PIN generated by electronic signature (BNI e-Secure/mobile token).
e. Has various types of report formats that can be downloaded for customer transactions and can be sent via email.
f. Comes in three languages, namely Indonesian, English and Mandarin.
• BNIDirect Mobile Advantages
a. Accessed via Android and iOS based devices.
b. Display based on layer size.
c. No need to carry tokens.
d. Layered security.
e. Auto update BNIDirect Mobile feature (no need to reinstall).
• BNIDirect Mobile Security
a. Transaction authentication uses M-PIN and OTP sent to the User’s mobile number registered with BNIDirect.
b. Access to sensitive menus requires M-PIN.
c. Data communication between the Device and the App server is AES 256 encrypted.
d. Web Application Firewall (WAF) verification.
• Terms and Conditions for Becoming a BNIDirect Mobile User Customer
a. Already registered on the web version of the BNIDirect application.
b. New customers can use the BNIDirect/BNIDirect Mobile Registration Application by adding the BNIDirect Mobile feature and
including the mobile/HP number for each user.
c. Existing customers can use the BNIDirect/BNIDirect Mobile Maintenance Application to add BNIDirect Mobile features and mobile/
HP number for each user.
BNIDirect Performance
Increase (Decrease)
2023* 2022 Percentage
Nominal
(%)
Transaction Volume (IDR trillion) 5,720 4,126 1,594 38.6
Number of users (based on CIF) 147,110 100,170 46,940 46.9
*)The 2023 figures use the latest segmentation figures
As of December 2023, the number of BNIDirect users BNI FSCM services are divided into 3 (three) solutions,
increased to 46.9%, or 46,940 compared to the previous namely Supplier Financing, Distributor Financing, and
year. Due to the increase in the number of BNIDirect users, Receivable Financing.
the BNIDirect transaction volume increased to IDR5,720 a. Supplier Financing
trillion in 2023, or 38.6% compared to the previous year Supplier Financing is a facility for taking over
Corporate Partner (Supplier) receivables for
Corporate customers before the due date to be
4. Financial Supply Chain Management (FSCM) paid in a shorter time. Supplier Financing services
Supply Chain Financing is a business solution in a chain are provided for companies that wish to increase
from upstream to downstream tailored to the needs of business growth and speed up their production cash
Corporate Customers.Through the BNI Financial Supply cycle process by providing bailouts for bill payments
Chain Management (BNI FSCM) platform, customers that have been accepted by Corporate customers.
get transparency in monitoring document flow and b. Financing Distributors
money flow from three parties (BNI, Corporations and Distributor Financing is a financing facility for
Corporate Partners), real-time information, easier and corporate customer bills to corporate partners
more flexible disbursement and implementation, and (distributors) on the due date and provides an
makes it easier for customers for paperless and secure extension for repayment of bills from corporate
reconciliation of invoices. partners to BNI. Financing distributor services are
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provided to companies wishing to increase business growth, and to regulate their cash cycle production process
through the payment of corporate customer bills. In this case the corporate partners can set bill repayments
according to their cash flow capabilities.
c. Receivable Financing
Receivable Financing is a facility in the form of taking over corporate customers’ bills to corporate partners
(distributors) to be paid before the bill is due. Receivable Financing services are provided for Corporate customers
who want to increase business growth and speed up the production cash cycle process by providing financing
for Corporate customers’ bills to finance the collection of their receivables. BNI provides bailouts for corporate
receivables to be paid faster.
More info: https://bnifscm.bni.co.id
Financial Supply Chain Management (FSCM) Performance
Financial Supply Chain Management (FSCM) Performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Number of Transactions (thousand) 148,532 136,564 11,968 8,8%
Transaction Volume (IDR-trillion) 26,9 23,2 3,7 15,9%
The Item growth and SCF distribution volume through the FSCM platform increased by 8.8% and 15.9% respectively,
with 148,532 distributions and IDR26.9 trillion, compared to 136,564 distributions and IDR23.2 trillion the previous year.
This increase was due to BNI’s strategy of optimizing the strategy to increase customer transactions through the BNI
customer value chain ecosystem.
5. E-Bank Guarantee
Together with technological advances, BNI presents Online Bank Guarantee (BNI e-Bank Guarantee and m-BG
Checking) as a solution that makes it easy for customers to submit, monitor and check bank guarantees online, with
the following features:
a. e-Application (Online Submission):
Submitting a bank guarantee issuance online by tiered approval.
b. e-Tracking (Online Monitoring):
Monitoring the status of bank guarantee issuance.
c. e-Reporting (Online Report):
Reeport of Bank guarantees that has been issued (as the applicant) and accepted (as the beneficiary).
d. e-Checking (Online Checking):
Checking the validity of the bank guarantee documents that have been issued (as the applicant) and/or received
by beneficiary.
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e. e-Plafond Monitoring (Ceiling Monitoring):
Monitoring bank guarantee ceilings (maximum, usage and remaining ceiling).
f. e-Amend (Submitting Changes):
Requesting changes to bank guarantees online.
g. e-Revision (Online Revision):
Revising bank guarantees online.
h. BNI m-BG Checking (Mobile Validation):
Validating bank guarantee documents via mobile application by scanning the QR Code on the bank guarantee.
These features enable customers to access and manage their bank guarantees efficiently through online platforms
provided by BNI.
Bank Guarantee Performance
Increase (Decrease)
2023 2022 Percentage
Nominal
(%)
Transaction Volume (IDR-billion) 10,078 8,421 1,657 19.7%
The Bank Guarantee transactions growth and volume through the GB Online platform shows an increase of IDR1,657
billion, or 19.7% (YoY) growth in 2023. This was due to BNI’s strategy to accommodate customers’ needs for transactions
seamlessly and practically. via digital channel platforms.
6. API Corporate Banking
BNI API is a digital payment solution that can be integrated directly with systems and/or applications built independently
by customers. BNI has also implemented the National Payment API Standard (SNAP API) which is an Open API
standardization from Bank Indonesia. BNI has also received approval for the implementation of SNAP on Virtual
Account and Transfer (Intrabank) services. Up to the end of 2023, BNI API Corporate Banking provided a total of 280
API services to customers.
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Selengkapnya: https://digitalservices.bni.co.id
7. BNI DPLK Sure
BNI DPLK SURE is an application to support the BNI DPLK business, and provides convenience and solutions for
managing retirement planning for BNI DPLK customers. The BNI DPLK SURE services consist of account opening,
deposits, claims, balance information, and fund management according to the investment package chosen by the
customer. BNI DPLK SURE is also connected to BNI Mobile Banking, BNI ATM, and BNI Direct so that customers can
make transactions anytime and anywhere. The BNI DPLK Investment Package consists of various products, including
Deposits, Bonds, Mutual Funds, Sharia Mutual Funds, and others.
As well as the main services for customers, there are other modules in DPLK SURE, such as reconciliation, integration,
daily accrual modules, reporting modules to regulators and operational monitoring, which strengthen the reliability
of DPLK SURE, while still meeting the requirements of regulators.
DPLK BNI has become a market leader in the pension fund management industry in Indonesia since 2001. As of
December 31, 2023, DPLK BNI’s AUM (Asset Under Management) reached IDR28.62 trillion for a total of more than
900 thousand corporate and individual customers.
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8. Trade Finance Overseas
One of BNI’s flagship businesses which is currently still being developed is Trade Finance to support BNI’s mission,
namely Strengthening International Services to Support the Needs of Global Business Partners. To achieve this, BNI
continues to improve the performance of its Trade Finance application. To adopt the SWIFT Changes in 2023, which
impacted trade transaction processing, in 2023 BNI upgraded the Trade Finance (TiPlus) application in overseas
branches (KCLN) Singapore and Hong Kong.The SWIFT format update was also one of BNI’s efforts to fulfill compliance
aspects with the latest regulations.
Contribution of Digital Banking to BNI’s Financial Performance
The variety of digital banking products and services developed by BNI not only strengthens BNI’s image as one of the
largest banks in Indonesia, but also has a positive impact on BNI’s overall financial performance. In the form of increasing
the Current Account Saving Account (CASA) and obtaining Fee Based Income.
BNI’s total CASA in December 2023 reached IDR577.5 trillion, growing 3.6% compared to last year. This growth was also
supported by BNI’s success in increasing digital capabilities which were able to increase customer engagement and
transaction experience.
The following is the contribution of digital banking products and services developed by BNI to achieving Fee Based Income:
2023 2022 Increase (Decrease)
Total Composition Total Composition Nominal Percentage
(IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%)
ATM & e-channel 1,297 72.2 1,495 81.3 (198) (13.2)
Payment Point Online
Banking (PPOB) 486 27.8 343 18.7 143 41.7
& Bill Payment
Total 1,783 100.0 1,838 100.0 (55) (3.0)
Total Fee Based Income from digital services reached IDR1.8 trillion. Fees from ATMs & e-channels decreased in 2023,
influenced by the implementation of the national payment system (BI Fast) which has lower transaction rates. Currently,
more than 90% of interbank transfer transactions carried out by BNI customers have been carried out via BI Fast. This is a
form of BNI’s support for the government’s program in integrating the national payment system. Meanwhile, Fees from
PPOB & Bill Payment increased by 41.7% compared to last year. It indicates the success of BNI’s strategy in increasing
digital transactions by customers so that BNI digital services, especially Mobile Banking in the Retail Segment and
BNIDirect in the Business Banking Segment, have also been used for transactions other than sending money.
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Comprehensive
Financial Overview
PRESENTATION AND COMPLIANCE WITH ACCOUNTING
STANDARDS APPLICABLE IN INDONESIA
The presentation of financial review information is taken from the Consolidated Financial Report of PT Bank Negara
Inodnesia (Persero) Tbk. and Subsidiaries prepared by Bank management in accordance with Financial Accounting
Standards in Indonesia which the Consolidated Financial Statements as of the dates and for the years ending December
31, 2023, 2022 and 2021 have been audited by KAP Tanudiredja, Wibisana, Rintis & Rekan (a member firm of the
PricewaterhouseCoopers network) with the partner in charge being Drs. M. Jusuf Wibisana, M.Ec,. CPA, independent
auditor with public accounting practice license No. AP.0222, based on Audit Standards established by the Indonesian
Institute of Public Accountants, with opinions without modification, as stated in their respective reports dated January
25, 2024 and January 20, 2023.
Presentation of values for the accounts described in this report represent the net amount after deducting allowance for
impairment losses unless otherwise stated.
FINANCIAL PERFORMANCE ANALYSIS
STATEMENT OF CONSOLIDATED FINANCIAL POSITION
“
Laporan Posisi
“The Financial Position provides a glimpse of the strength of
BNI’s assets, banking business and capital. “In 2023, BNI’s total
assets stood at IDR1,087 Trillion Meanwhile, BNI’s liabilities and
Keuangan equity comprised 85.8% Liabilities and 14.2%.”
Konsolidasian
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account (IDR- (IDR- (IDR-
billion) billion) billion) Nominal Percentage Nominal Percentage
(IDR-billion) (%) (IDR-billion) (%)
Assets 1.086.664 1.029.837 964.838 56.827 5,5 64.999 6,7
Liabilities 931.931 889.639 838.318 42.292 4,8 51.321 6,1
Equity 154.733 140.198 126.520 14.535 10,4 13.678 10,8
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The following describes the performance of BNI’s Assets, Liabilities and Equity.
ASSETS
Total Assets
(IDR-billion)
1.086.664
1.029.837
964.838
“BNI’s total assets grew 5.5% to reach more than IDR1,000 trillion
with a significant loan growth of 7.6% due to well-maintained
asset quality management.”
2021 2022 2023
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account (IDR- (IDR- (IDR- Nominal Nominal
billion) billion) billion) Percentage Percentage
(IDR- (IDR-
(%) (%)
billion) billion)
Cash 11,207 13,448 13,684 (2,241) (16,7) (236) (1.7)
Current Accounts with Bank Indonesia 65,256 82,922 48,682 (17,666) (21,3) 34,240 70.3
Current Accounts with other banks
35,023 15,922 19,570 19,101 120,0 (3,648) (18.6)
- Net
Placements with Other Banks and
43,794 51,569 92,290 (7,775) (15,1) (40,721) (44.1)
Bank Indonesia - Net
Marketable Securities - Net 37,165 28,556 25,803 8,609 30,1 2,753 10.7
Securities Purchased under
13,951 16,631 22,011 (2,680) (16,1) (5,380) (24.4)
Agreements to Resell - Net
Bills and Other Receivables - Net 18,999 20,729 19,563 (1,730) (8,3) 1,166 6.0
Acceptance Receivables - Net 17,091 18,912 20,543 (1,821) (9,6) (1,631) (7.9)
Derivative Receivables- Net 996 685 494 311 45,4 191 38.7
Loans disbursed 695,085 646,188 582,436 48,897 7,6 63,752 10.9
CKPN Loans disbursed (47,158) (50,334) (50,295) 3,176 (6,3) (39) 0.1
Government Bonds - Net 127,099 121,291 111,429 5,808 4,8 9,862 8.9
Prepaid Taxes 643 644 1,051 (1) (0,2) (407) (38.7)
Prepaid Expenses 2,743 3,244 3,096 (501) (15,4) 148 4.8
Investments in Associates 11,284 10,049 8,688 1,235 12,3 1,361 15.7
Equity Investments - Net 564 609 830 (45) (7,4) (221) (26.6)
Other Assets- Net 16,972 13,856 11,850 3,116 22,5 2,006 16.9
Fixed Assets - Net 27,765 26,549 26,883 1,216 4,6 (334) (1.2)
Intangible assets 744 753 - (9) (1,2) 753 100.0
Deferred Tax Assets - Net 7,441 7,614 6,230 (173) (2,3) 1,384 22.2
Total Assets 1,086,664 1,029,837 964,838 56,827 5,5 64,999 6.7
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BNI assets in 2023 grew by IDR56.8 trillion, or 5.5% compared to Total Assets in 2022 of IDR1.030 trillion, increasing
to IDR1.087 trillion in 2023. The growth in assets mainly came from support from the growth in Loans, with the Loans
Account registering the largest contribution to total assets, reaching 64.0% in 2023 compared to 62.7% the previous year,
reflecting BNI’s main business as a loan distributor. In addition, other productive assets in the form of Government Bonds
was the second largest contributor, with 11.7% of BNI’s Total Assets, an increase of 4.8% from IDR121.3 trillion in 2022 to
IDR127.1 trillion in 2023. Current accounts with other banks, had the largest contribution of 3.01%, and also experienced
a significant increase of 120% from IDR15.9 trillion in 2022 to IDR35.0 trillion in 2023.
Cash
In 2023, BNI recorded cash of IDR11.2 trillion, a decrease of 16.7% compared to the previous year’s position of IDR13.4 trillion.
There was a decrease in cash in Rupiah of 18.1% to reach IDR10.4 trillion in 2023. Cash in foreign currencies increased,
and was dominated by USD. The portion of cash denominated in Rupiah remains dominant at 92.7% of BNI’s total cash.
Current accounts with Bank Indonesia
BNI and its Subsidiaries are required to keep Minimum Statutory Reserves (MSR) in Rupiah for their activities as commercial
and sharia bank, as well as MSR in foreign currency for their activities when conducting foreign currency transactions.
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Account Nominal Nominal
Total Composition Total Composition Total Composition Percentage Percentage
(IDR- (IDR-
(IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%) (%) (%)
billion) billion)
Rupiah 57,795 88.6 76,037 91.7 42,949 88.2 (18,242) (24.0) 33,088 77.0
US Dollar 7,461 11.4 6,885 8.3 5,733 11.8 576 8.4 1,152 20.1
Total 65,256 100.0 82,922 100.0 48,682 100.0 (17,666) (21.3) 34,240 70.3
In 2023, BNI’s Current Accounts with Bank Indonesia (Bl) were to IDR65.3 trillion, a decrease of 21.3% compared to IDR82.9
trillion the previous year. This account acounted for 6.0% in 2023, down from the previous year’s 8.1%. BNI’s MSR is in
accordance with Bank Indonesia Regulation (PBl) No. 24/4/PBI/2022 dated March 1, 2022 concerning Minimum Statutory
Reserves for Commercial Banks in Rupiah and Foreign Currency for Conventional Commercial Banks, and the Members
of the Board of Governors Regulation (PADG) No. 24/8/PADG/2022 dated June 30, 2022.
2023 2022 2021
Minimum Statutory Reserves (MSR)
(%) (%) (%)
MSR - Rupiah 9.5 11.9 7. 7
MSR – Foreign Currencies 4.0 4.0 4.0
BNI’s primary GWM ratio for Rupiah was 9.5% as of December 31, 2023, and 11.9% as of December 31, 2022, while for
foreign currency they were 4.0% and 4.0% respectively.
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Current Accounts with Other Banks
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Account Total
Composition Total Composition Total Composition Nominal Percentage Nominal Percentage
(IDR-
(%) (IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%)
billion)
Rupiah 602 1.7 385 2.4 472 2.4 217 56.4 (87) (18.4)
Foreign
34,421 98.3 15,537 97.6 19,098 97.6 18,884 121.5 (3,561) (18.6)
Currency
Allowance
for
- - - - - - - - - - - -
impairment
losses
Total - net 35,023 100.0 15,922 100.0 19,570 100.0 19,101 120.0 (3,648) (18.6)
BNI’s current accounts with other banks were IDR35.0 trillion. an increase of 120.0% in 2023 compared to IDR15.9
trillion the previous year. This increase was due to an increase in current accounts with other banks in foreign currency
(forex) that reached IDR18.9 trillion (gross), an increase of 121.5% compared to IDR15.5 trillion the previous year due to
transactions with counterparty banks. The contribution of this account to total assets was 3.2% in 2023, a increase down
compared to the previous year’s 1.5%
Placements with Other Banks and Bank Indonesia
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Account
Total Composition Total Composition Total Composition Nominal Percentage Nominal Percentage
(IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%)
Deposit
39,429 90.0 49,389 95.8 90,320 97.9 (9,960) (20.2) (40,931) (45.3)
Facility
Call money 1,364 3.1 911 1.8 714 0.8 453 49.7 197 27.6
Time
2,963 6.8 1,269 2.5 1,207 1.3 1,694 133.5 62 5.1
Deposits
Negotiable
Certificate 38 0.1 - - 49 0.1 38 100.0 (49) (100.0)
Deposits
Allowance
for
- - - - - - - - - - - -
impairment
losses
Total - net 43,794 100.0 51,569 100.0 92,290 100.0 (7,775) (15.1) (40,721) (44.1)
Placements with other banks and Bank Indonesia were recorded at IDR43.8 trillion or a decrease of 15.1% from 2022. This
is an effort to increase income from productive assets that have higher yields. The annual interest rate for this account
in Rupiah is 0.0-7.3% and 0.0-6.0% respectively, while for foreign currency (USD) it is 0.0%-5.7% and 0.0 - 4.7% for 2023
and 2022.
Securities
addition to earning interest income from investing in these securities, BNI also earns non-interest income from sales
transactions and mark to market for these securities. As of December 31, 2023, the Bank recorded total securities of
IDR37.2 trillion, an increase of 30.1% compared to the previous year’s achievement of IDR28.6 trillion. The composition
of securities owned by BNI is as follows:
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Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Securities Total Nominal Nominal
Total Composition Composition Total Composition Percentage Percentage
(IDR- (IDR- (IDR-
(IDR-billion) (%) (%) (IDR-billion) (%) (%) (%)
billion) billion) billion)
Mutual
24,199 64.7 19,350 67.2 15,896 61.0 4,849 25.1 3,454 21.7
funds
Bonds 7,348 19.6 7,021 24.4 8,520 32.7 327 4.7 (1,499) (17.6)
Obligasi
607 1.6 604 2.1 608 2.3 3 0.5 (4) (0.7)
Subordinasi
Bank
Indonesia - - 78 0.3 128 0.5 (78) (100.0) (50) (39.1)
Certificates
Bank
Indonesia
Rupiah 3,700 9.9 - - - - - 100.0 - - -
Certificates
(SRBI)
Bank
Indonesia
Foreign
76 0.2 - - - - - 100.0 - - -
Currency
Certificates
(SVBI)
Asset
Backed - - -- - 72 0.3 - - - (72) (100.0)
Securities
Other
1,478 4.0 1,750 6.0 829 3.2 (272) (15.5) 921 111.1
Securities
Allowance
for
(243) (247) (250) 4 (1.6) 3 (1.2)
impairment
losses
Total - net 37,165 100.0 28,556 100.0 25,803 100.0 8,609 30.1 2,753 10.7
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Securities Total Nominal Nominal
Total Composition Total Composition Composition Percentage Percentage
(IDR- (IDR- (IDR-
(IDR-billion) (%) (IDR-billion) (%) (%) (%) (%)
billion) billion) billion)
Fair Value Through Profit and Loss Report
Mutual funds 4,745 12.7 5,425 18.8 8,714 33.4 (680) (12..5) (3,289) (37.7)
Bank Indonesia
Rupiah
2,549 6.8 - - - - 2,549 100.0 - -
Certificates
(SRBI)
Bank Indonesia
Foreign
Currency 76 0.2 - - - - 76 100.0 - -
Certificates
(SVBI)
Bonds 642 1.7 3 - 23 0.1 639 21.300.0 (20) (87.0)
Subordinated
269 0.7 6 - 6 - 263 4.383.0 - -
Bonds
Other Securities 1 0.0 1,742 6.0 829 3.2 (1,741) (99.9) 913 110.1
Total Fair 8,282 22.1 7,176 24.9 9,572 36.7 1,106 15.4 (2,396) (25.0)
Value Through
Profit and Loss
Statement
Fair Value Through Other Comprehensive Income
SBI - - 78 0.3 128 0.5 (78) (100.0) (50) (39.1)
Mutual funds 19,454 52.0 13,926 48.3 7,182 27.6 5,528 39.7 6,744 93.9
Other bonds 6,101 16.3 6,303 21.9 8,241 31.6 (202) (3.2) (1,938) (23.5)
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Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Securities Total Nominal Nominal
Total Composition Total Composition Composition Percentage Percentage
(IDR- (IDR- (IDR-
(IDR-billion) (%) (IDR-billion) (%) (%) (%) (%)
billion) billion) billion)
Subordinated
338 0.9 597 2.1 602 2.3 (259) (43.4) (5) (0.8)
Bonds
Bank Indonesia
Rupiah
1,151 3.1 - - - - 1,151 100.0 - -
Certificates
(SRBI)
Other Securities 1,477 3.9 - - - - 1,477 100.0 - -
Asset Backed
- - - - 72 0.3 - - (72) (100.0)
Securities
Total Fair Value 28,521 76.2 20,904 72.6 16,225 62.3 7,617 36.4 4,679 28.8
Through Other
Comprehensive
Income
Amortized Acquisition Cost
Other bonds 605 1.6 716 2.5 256 1.0 (111) (15.5) 460 179.7
Other Securities - - 7 - - - (7) (100.0) 7 100.0
Total 605 1.6 723 2.5 256 1.0 (118) (16.5) 467 182.4
amortized
Acquisition
Cost
Allowance for
Impairment (243) (247) (250) 4 (0.6) 3 (1.2)
Losses
Total - net 37,165 100.0 28,556 100.0 25,803 100.0 8,609 30.1 2,753 10.7
The growth in securities owned by BNI in 2023 was 30.1%, or IDR8.6 trillion. This increase was mainly contributed by an
increase in securities with mutual fund instruments classified as fair value through other comprehensive income namely
IDR4.9 trillion. In 2023, BNI also placed funds in two new instruments issued by Bank Indonesia in 2023, namely Bank
Indonesia Rupiah Securities (SRBI) and Bank Indonesia Foreign Currency Securities (SVBI) resulting in a total portfolio
of IDR3.8 trillion.
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Securities Based
on Issuer Total Total Total Nominal Nominal
Composition Composition Composition Percentage Percentage
(IDR- (IDR- (IDR- (IDR- (IDR-
(%) (%) (%) (%) (%)
billion) billion) billion) billion) billion)
Corporate 30,646 81.9 25,352 88.0 21,827 83.8 5,294 20.9 3,525 16.1
Banks 2,986 8.0 3,373 11.7 4,098 15.7 (387) (11.5) (725) (17.7)
Bank Indonesia 3,776 10.1 78 0.3 128 0.5 3,698 4.741.0 (50) (39.1)
Sub Total 37,408 100.0 28,803 100.0 26,053 100.0 8,605 29.9 2,750 10.6
Allowance for
Impairment (243) (247) (250) 4 (1.6) 3 (1.2)
Losses
Total - net 37,165 28,556 25,803 8,609 30.1 2,753 10.7
Looking at the composition of the issuers of these securities, securities issued by corporations had the largest portion,
reaching 81.9%, or IDR30.6 trillion in 2023. This was an increase compared to the previous year where the total securities
reached IDR25.4 trillion (gross).
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Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Securities
Collectability Total Nominal Nominal
Total Composition Composition Total Composition Persentase Persentase
(IDR- (IDR- (IDR-
(IDR-billion) (%) (%) (IDR-billion) (%) (%) (%)
billion) billion) billion)
Current 36,874 98.6 28,269 98.1 25,483 97.8 8,605 30.4 2,786 10.9
Doubtful 291 0.8 287 1.0 320 1.2 4 1.4 (33) (10.3)
Macet 243 0.6 247 0.9 250 1.0 (4) (1.6) (3) (1.2)
Sub Total 37,408 100.0 28,803 100.0 26,053 100.0 8,605 29.9 2,750 10.6
Reserve for
impairment (243) (247) (250) 4 (1.6) 3 (1.2)
losses
Total 37,165 100.0 28,556 100.0 25,803 100.0 8,609 30.1 2,753 10.7
Viewed from a collectability perspective, BNI’s securities that has been established in accordance with applicable
were in the current category with portions of 98.6% and regulations. Management believes that the amount of
98.1% respectively for the period ending December 31, allowance for impairment losses established is adequate.
2023 and 2022. Management assesses that the amount of
allowance for impairment losses on securities owned by Derivative Receivables
the Bank is adequate.
When conducting business, BNI transacts in derivative
Securities Purchased under Agreements to Resell financial instruments such as foreign currency futures
Until December 31, 2023, Securities Purchased under contracts, foreign currency swaps, interest rats swaps
Agreements to Resell amounted to IDR13.9 trillion with and spot transactions for financing, trading and hedging.
the current classification decreasing by 16.11% compared The instruments used by BNI are classified based on the
to IDR16.6 trillion last year. The biggest decline was with type of risk related to exchange rates, interest rates or
Bank Indonesia counterparties where the decline in Reverse both. Based on the exchange rate, derivative receivables
Repo amounted to IDR2.6 trillion. The contractual interest are in the form of buy/sell forward contracts, sell/buy
rate for securities purchased under agreements to resell foreign currency swaps, sell/buy foreign currency spots,
was 6.0%-6.7% and 5.0%-6.4%. and buy/sell foreign currency options. Interest rate related
instruments are swaps on interest rates while instruments
Export Bills and Other Receivables related to exchange rates and interest rates are foreign
BNI’s export bills and other receivables amounted to IDR19 currency swaps and USD interest rates.
trillion, a decrease of 8.3% in 2023. This decrease was
mainly due to a decrease in Export Bills in rupiah currency Cumulatively. BNI derivative receivables amounted to IDR1
of IDR1.9 trillion, or 13.22% , where total export money trillion in 2023, an increase of 45.4% from the previous
order transactions in 2023 reached IDR12.7 trillion, from year’s IDR0.69 trillion. Of the total derivative receivables
IDR14.6 trillion in the previous year. Export bills and other foreign currency swap instruments in US Dollars recorded
receivables denominated in Rupiah made up a dominant the largest nominal value of IDR1.3 billion in 2023 from
portion in the BNI export bills and other receivables IDR2.1 billion the previous year. All derivative receivables
composition with portions of 65.9% and 70.0% respectively as of December 31, 2023 were classified as current.
for 2023 and 2022. Export bills and other receivables are in
the form of Domestic Documentary Certificates (SKBDN, Loans Disbursed
export bills, open account financing and supply chain Loans disbursed are BNI’s main business with a contribution
financing. of 64.0% to total assets in 2023 and 62.7% in 2022.
Acceptance Receivables Based on the type of credit, BNI provides loans in the form
Based on the beneficiary, BNI acceptance receivables are of working capital loans, investment loans, consumer loans,
divided into non-bank and bank debtors. BNI’s acceptance syndicated loans, employee loans and government program
receivables reached IDR17.1 trillion in 2023, a decrease of loans.
9.6% compared to IDR18.9 trillion the previous period.
This decrease was mainly due to a decrease in acceptance Loans disbursed by BNI reached IDR695.1 trillion or grew
receivables from customers in rupiah from non-bank by 7.6% compared to last year.The growth in loans provided
debtors of IDR17.3 trillion (gross) in 2023 compared to was driven by Syndicated Loans, which experienced an
IDR19.7 trillion (gross) the previous year. Based on Bank increase of 103% or IDR49.5 trillion, where the current
Indonesia collectibility, all Acceptance Receivables are position was IDR97.6 trillion and the position in 2022 was
classified as current with a provision for impairment losses
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IDR48.1 trillion. BNI loans are provided in Rupiah and foreign currency. Loans in Rupiah still has the largest portion, namely
80.9% (2023) and 80.1% (2022). Meanwhile, loans in foreign currency is dominated by US dollars with a contribution of
19.1% and 19.9% to total loans in 2023 and 2022.
The basic credit interest rate (prime lending rate) as of December 31 2023 was 8.1% for the corporate segment, 8.3% for
the retail segment and 7.4% for home ownership consumer credit (KPR) and 8.8% for consumer credit apart from KPR.
Total Loans Disbursed
(IDR-billion)
695.085
646.188
582.436
2021 2022 2023
Working capital loans make up the largest portion of BNI’s loan portfolio (gross) at 50.8% and 54.3% in 2023 and 2022.
Cumulatively. the loan portfolio is well diversified with contributions from other types with a relatively large portion
being investment loans (16.9%); consumer loans (17.7%): and syndicated loans (14.0%) in 2023. The composition of loans
based on loans type is as follows:
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Loans by
Type Total Total Total
Composition Composition Composition Nominal Percentage Nominal Percentage
(IDR- (IDR- (IDR-
(%) (%) (%) (IDR-billion) (%) (IDR-billion) (%)
billion) billion) billion)
Working
352,886 50.8 350,624 54.3 311,419 53.5 2,262 0.65 39,205 12.6
capital
Investment 117,616 16.9 133,840 20.7 131,886 22.6 (16,224) (12.1) 1,954 1.5
Consumer 123,317 17.7 109,424 16.9 95,335 16.4 13,893 12.7 14,089 14.8
Employee 3,635 14.0 4,151 0.6 3,928 0.7 (516) 12.4 223 5.7
Syndicated 97,600 0.5 48,079 7.4 39,741 6.8 49,521 103.0 8,338 21.0
Government
31 0.0 70 0.0 127 0.0 (39) (55.71) (57) (44.9)
Programs
Total -
695,085 100.0 646,188 100.0 582,436 100.0 48,897 7.57 63,752 10.9
Gross
Allowance
for
(47,158) (50,334) (50,295) 3,176 (6.31) (39) 0.1
Impairment
Losses
Total - net 647,927 595,854 532,141 52,073 8,74 63,713 12,0
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Regarding syndicated loans, BNI’s participation in syndicated loans with other banks amounted to IDR97.6 trillion and
IDR48.1 trillion as of December 31, 2023 and 2022, respectively. Syndicated loans are loans provided to debtors based
on joint financing agreements with other banks. The percentage of BNI’s share in syndicated loans, where BNI acts as
syndication leader, is 5.04%-100.00% in 2023 and 5.04% - 83.30% in 2023.
Employee loans are loans given to BNI employees with an interest rate of 3%-5% per year. intended for home purchases
and other purposes with a shelf life ranging from 1 year to 20 years. Loan principal and interest payments are paid
through monthly salary deductions. The Government Credit Program consists of Food Security Credit (KKP Two Steps
Loan (TSL), Cattle Breeding Business Credit (KUPS), and Plantation Revitalization which can be partially and/or fully
funded by the Government.
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Loans by
Segment Total Total Nominal Nominal
Total Composition Composition Composition Percentage Percentage
(IDR- (IDR- (IDR- (IDR-
(IDR-billion) (%) (%) (%) (%) (%)
billion) billion) billion) billion)
Corporate 310,392 44.7 255,639 39.6 229,028 39.3 54,753 21.4 27,817 12.1
Rupiah 245,881 35.4 207,969 32.2 184,837 31.7 37,912 18.2 21,462 11.6
Foreign
64,511 9.3 47,670 7.4 44,191 7.6 16,841 35.3 6,355 14.4
currency
Middle 109,625 15.8 112,462 17.4 99,132 17.0 (2,837) (2.5) 7,182 7.2
Rupiah 98,318 14.1 99,092 15.3 88,559 15.2 (774) (0.8) 7,261 8.2
Foreign
11,307 1.6 13,370 2.1 10,573 1.8 (2,063) (15.4) (79) (0.7)
currency
Small 84,927 12.2 97,210 15.0 95,752 16.4 (12,283) (12.6) 5,887 6.1
Rupiah 84,895 12.2 97,115 15.0 95,634 16.4 (12,220) (12.6) 5,910 6.2
Foreign
32 0.0 95 0.0 118 0.0 (63) (66.0) (23) (19.5)
currency
Consumer 124,487 17.9 109,602 17.0 98,991 17.0 14,885 13.6 11,124 11.2
Rupiah 124,464 17.9 109,577 17.0 98,960 17.0 14,886 13.6 11,130 11.2
Foreign
24 0.0 25 0.0 31 0.0 (1) (4.7) (6) (19.4)
currency
International 56,611 8.1 67,405 10.4 58,446 10.0 (10,795) (16.0) 8,959 15.3
Rupiah - - - - - - - - - - - -
Foreign
56,611 8.1 67,405 10.4 58,446 10.0 (10,795) (16.0) 8,959 15.3
currency
Subsidiaries 9,043 1.3 3,870 0.6 1,087 0.2 5,172 133.6 2,783 256.0
Rupiah 9,033 1.3 3,834 0.6 1,087 0.2 5,199 135.6 2,747 252.7
Foreign
10 0.0 37 0.0 - - (27) (73.1) 36 100.0
currency
Total Loans 695,085 100.0 646,188 100.0 582,436 100.0 48,896 7.6 63,752 10.9
Total 562,591 80.9 517,587 80.1 469,077 80.5 45,003 8.7 48,510 10.3
Rupiah
Total 132,494 19.1 128,601 19.9 113,359 19.5 3,893 3.0 15,242 13.4
Foreign
currency
Increase (Decrease) Increase (Decrease)
2023 2022 2021
Loans by 2022-2023 2021-2022
Economic Total Total Nominal Nominal
Sector Total Composition Composition Composition Persentase Persentase
(IDR- (IDR- (IDR- (IDR-
(IDR-billion) (%) (%) (%) (%) (%)
billion) billion) billion) billion)
Trade,
restaurants 130,427 18.8 109,753 17.0 101,676 17.5 20,674 18.8 8,077 7.9
and hotels
Industry 137,662 19.8 133,896 20.7 121,997 20.9 3,766 2.8 11,899 9.8
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Increase (Decrease) Increase (Decrease)
2023 2022 2021
Loans by 2022-2023 2021-2022
Economic Total Total Nominal Nominal
Sector Total Composition Composition Composition Persentase Persentase
(IDR- (IDR- (IDR- (IDR-
(IDR-billion) (%) (%) (%) (%) (%)
billion) billion) billion) billion)
Agriculture 56,438 8.1 57,131 8.8 59,430 10.2 (693) (1.2) (2,299) (3.9)
Business
47,189 6.8 47,153 7.3 42,959 7. 4 36 0.1 4,194 9.8
services
Construction 54,444 7.8 55,865 8.6 55,210 9.5 (1,421) (2.5) 655 1.2
Transport,
warehousing
49,271 7.1 44,962 7.0 43,010 7.4 4,309 9.6 1,952 4.5
and
communication
Electricity, gas
21,541 3.1 22,073 3.4 20,301 3.5 (532) (2.4) 1,772 8.7
and water
Social services 14,431 2.1 23,240 3.6 20,925 3.6 (8,809) (37.9) 2,315 11.1
Mining 48,943 7.0 39,063 6.0 15,685 2.7 9,880 25.3 23,378 149.0
Others 134,739 19.4 113,052 17.5 101,243 1 7.4 21,687 19.2 11,809 11.7
Sub Total 695,085 100.0 646,188 100.0 582,436 100.0 48,897 7.6 63,752 10.9
Allowance for
impairment (47,158) (50,334) (50,295) 3,176 (6.3) (39) 0.1
losses
Total - net 647,927 595,854 532,141 52,073 8.7 63,713 12.0
When viewed from the economic sector, loans disbursed by BNI are well diversified so that they are not exposed to the
risk of loan concentration in certain economic sectors. The three economic sectors that have the highest contribution to
loans provided in 2023 are industrial or manufacturing sector with a share of 19.8%; trade, restaurants and hotels (18.8%);
and agriculture (8.1%). In the previous year, the portion of credit distribution for the three sectors remained relatively
unchanged at respectively 20.7%,; 17.0%; and 8.8%.
Increase (Decrease) Increase (Decrease)
Loans 2023 2022 2021
2022-2023 2021-2022
Disbursed
by Overseas Total Total Nominal Nominal
Total Composition Composition Composition Persentase Persentase
(IDR- (IDR- (IDR- (IDR-
Branches (IDR-billion) (%)
billion)
(%)
billion)
(%)
billion)
(%)
billion)
(%)
BNI Tokyo 6,510 11.5 7,659 11.4 8,378 14.3 (1,149) (15.0) (719) (8.6)
BNI Hong
8,618 15.2 9,281 13.8 8,824 15.1 (663) (7.1) 457 5.2
Kong
BNI Singapura 18,900 33.4 17,278 25.6 12,574 21.5 1,622 9.4 4,704 37.4
BNI New York 12,621 22.3 17,467 25.9 12,684 21.7 (4,846) (27.7) 4,783 37.7
BNI London 7,531 13.3 13,161 19.5 12,343 21.1 (5,630) (42.8) 818 6.6
BNI Seoul 2,431 4.3 2,559 3.8 3,643 6.3 (128) (5.0) (1,084) (29.8)
Jumlah 56,611 100.0 67,405 100.0 59,111 100.0 (10,794) (16.0) 8,959 15.3
Based on disbursement by Overseas Branches (KLN), loans at BNI KLN decreased by IDR10.8 trillion or 16.0% compared
to 2022.The decrease in loans disbursement by KLN in 2023 was dominated by BNI London and BNI NewYork with IDR5.6
trillion and IDR4.8 trillion or 42.8% and 27.7% compared to the previous year.
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BNI Tokyo BNI Hongkong
(IDR-billion) (IDR-billion)
9.500
10.000
9.281
9.000 8.378
9.000 8.824
8.000 7.659
8.618
7.000 6.510 8.500
6.000
5.000 8.000
4.000
3.000 7.500
2.000
2021 2022 2023 2021 2022 2023
BNI Singapura BNI New York
(IDR-billion) (IDR-billion)
20.000 18.900 20.000
17.278
18.000 18.000 17.467
16.000 16.000
14.000 14.000
12.574 12.684 12.621
12.000 12.000
10.000 10.000
8.000 8.000
6.000 6.000
4.000 4.000
2.000 2.000
2021 2022 2023 2021 2022 2023
BNI London BNI Seoul
(IDR-billion) (IDR-billion)
4.000
14.000 3.643
12.343 13.161
3.500
12.000
3.000
10.000 2.559 2.431
2.500
8.000
7.531
2.000
6.000
1.500
4.000
1.000
2.000
500
2021 2022 2023 2021 2022 2023
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Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Kolektibilitas
Pinjaman Total Total Nominal Nominal
Composition Composition Total Composition Percentage Percentage
(IDR- (IDR- (IDR- (IDR-
(%) (%) (IDR-billion) (%) (%) (%)
billion) billion) billion) billion)
Current 646,349 93.0 605,232 93.7 533,438 91.6 41,117 6.8 71,794 13.5
Special 33,901 4.9 22,795 3.5 27,470 4.7 11,106 48.7 (4,675) (17.0)
Mention
Substandard 2,954 0.4 3,123 0.5 4,114 0.7 (169) (5.4) (991) (24.1)
Doubtful 2,822 0.4 1,471 0.2 2,346 0.4 1,351 91.8 (875) (37.3)
Loss 9,059 1.3 13,567 2.1 15,068 2.6 (4,508) (33.2) (1,501) (10.0)
Sub Total 695,085 100.0 646,188 100.0 582,436 100.0 48,897 7.6 63,752 10.9
Allowance
for (47,158) (50,334) (50,295) 3,176 (6.3) (39) 0.1
impairment
losses
Total - net 647,927 595,854 532,141 52,073 8.7 63,713 12.0
In terms of Bank Indonesia collectibility in accordance with OJK Regulations, the collectibility of loans disbursed by BNI
was mostly in the current category with a portion of 93.0% and 93.7% for 2023 and 2022. The gross non-performing loan
ratio (before deducting allowance for impairment losses) for BNI and Subsidiaries as of December 31, 2023 and 2022 was
2.1% and 2.8% respectively. BNI Consolidated’s net non-performing loan ratio for the same periods reached 0.6% and 0.5%.
Write-off of Loan Assets and Recovery – Bank Only
BNI wrote off loan assets amounting to IDR14.3 trillion during 2023, higher than the IDR10.9 trillion in 2022. BNI management
prioritizes debtors who are bankrupt and have legal problems, and maximum efforts have been made. When compared with
the total loans provided by Bank Only, the loan asset write-off ratio is relatively low at around 2.1%. In 2023, the recovery
of written-off loans amounted to IDR5.2 trillion with a recovery rate of 35.9%, an increase compared to 35.8% in 2022.
Government Bonds
Government bonds are financial instruments that fall under low risk criteria but offer competitive interest rates. On the
other hand, these instruments helps Government funding in managing the APBN.
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Loan
Collectibility Total Total Nominal Nominal
Composition Total Composition Composition Percentage Percentage
(IDR- (IDR- (IDR- (IDR-
(%) (IDR-billion) (%) (%) (%) (%)
billion) billion) billion) billion)
Fair value
through profit 4,188 3.3 1,775 1.5 4,112 3.7 2,413 135.9 (2,337) (56.8)
or loss
Fair Value
through Other
86,549 68.1 82,328 67.9 85,198 76.4 4,221 5.1 (2,870) (3.4)
Comprehensive
Income
Amortised
36,363 28.6 37,189 30.6 22,120 19.9 (826) (2.2) 15,069 68.1
Expenses
Total 127,100 100.0 121,292 100.0 111,430 100.0 5,808 4.8 9,862 8.9
Fixed interest
127,001 99.9 121,192 99.9 111,330 99.9 5,809 4.8 9,862 8.9
rate
Floating
99 0.1 100 0.1 100 0.1 (1) (1.0) - -
Interest Rate
Total 127,100 100.0 121,292 100.0 111,430 100.0 5,808 4.8 9,862 8.9
Government bonds are financial instruments that fall under low risk criteria but offer competitive interest rates. On the
other hand, this instrument also helps government funding in managing the APBN. As of December 31, 2023, BNI’s
Government Bonds amounted to IDR127.1 trillion, an increase of 4.8% compared to the same position in 2022. BNI’s
Government Bonds are denominated in Rupiah and foreign currency, with Government Bonds denominated in Rupiah
reaching IDR95.3 trillion, an increase of 7.6% in 2023, compared to IDR88.6 trillion the previous year. Meanwhile. Government
Bond in foreign currencies amounted to IDR31.8 trillion and IDR32.7 trillion in 2023 and 2022. The contribution of this
account to BNI’s total assets in 2023 and 2022 was 11.7% and 11.8%.
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Using the type of Government Bond interest rates, Government bond transactions with fixed interest rates delivered a
dominant portion of 99.9% in 2023 and 2022. Whereas for floating interest rate bonds, the portion of Government Bond
transactions is 0.1% and 0.1% in 2023 and 2022.
For fixed interest rates, the market price of Government Bonds ranges between 73.9% to 132.3% and between 71.9% to
130.7% on 31 December 2023 and 2022 respectively. Meanwhile, the market price of Government BondsThe government
floating interest rate was 100.0% and 99.9% on December 31, 2023 and 2022.
In Government Bond financial instruments, there are government bonds from the recapitalization program, the amount
of recapitalization bonds on December 31, 2023 and December 31, 2022 was IDR100 billion.
The contract interest rate for Government Bonds in 2023 for fixed interest rates is 3.88%-12.0% in rupiah, 0.5-7.8% in US
Dollars, and 0.5%-1.3% in Singapore Dollars. Meanwhile, the contract interest rate for fixed interest rates in the previous
year for the three types of currencies was 4.0%-12.0%; 0.1%-7.8%; and 1.3%. On the other hand, the annual floating interest
rate for Government Bonds in 2023 is 4.5% from 3.5% - 4.3% in the previous year.
Prepaid Taxes and Prepaid Expenses
BNI’s prepaid taxes and expenses for the period ending December 31, 2023 was IDR0.6 trillion and IDR2.7 trillion,
respectively, compared to IDR0.6 trillion and IDR3.2 trillion respectively the previous year.
Investment in Shares and Investment in Associated Entities
2023 2022 2021
(%) (%) (%)
PT Bursa Efek Indonesia 1.2 1.2 1.2
PT Kustodian Sentral Efek Indonesia 2.5 2.5 2.5
PT Pemeringkat Efek Indonesia 0.2 0.6 0.6
PT Bank Mizuho Indonesia 1.0 1.0 1.0
PT Bank BTPN Tbk 0.2 0.2 0.2
PT PANN Pembiayaan Maritim 48.4 48.4 48.4
PT Fintek Karya Nusantara 9.8 9.3 10.2
PT Penyelesaian Transaksi Elektronik Nasional (PTEN) 17.5 17. 5 17. 5
PT Bank Syariah Indonesia Tbk 23.2 23.2 24.9
Investments in shares and Investments in BNI associated entities net reached IDR11.8 trillion in 2023, higher than the
previous year’s position of IDR10.7 trillion due to additional participation and recognition of the profit portion of PT Bank
Syariah Indonesia Tbk in 2023.
Other Assets
BNI’s net other assets reached IDR17.0 trillion in 2023, an increase of 22.5% compared to the previous year’s position of
IDR13.9 trillion due to an increase in several accounts, including BNI’s claims as Bank Acquirer and BI’s Export Proceeds
Foreign Exchange (DHE).
Fixed Assets
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Land 16,364 16,023 15,969 341 2.1 54 0.3
Buildings 9,246 8,724 8,387 522 6.0 337 4.0
Office Equipment
15,187 13,958 12,747 1,229 8.8 1,211 9.5
and motor vehicles
Total acquisition cost 40,797 38,705 37,103 2,092 5.4 1,602 4.3
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Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Assets In Settlement 1,239 707 522 532 75.2 185 35.4
Right-of-Use Assets 2,652 2,343 2,210 309 13.2 133 6.0
Total acquisition cost 44,688 41,755 38,935 2,933 7.0 1,920 4.8
Accumulated
depreciation
Buildings 3,366 2,814 2,250 552 19.6 564 25.1
Office Equipment
12,317 11,345 9,890 972 8.6 1,455 14.7
and motor vehicles
Right-of-Use Assets 1,240 1,047 812 193 18.4 235 28.9
Total accumulated
16,923 15,206 12,952 1,717 11.3 2,254 17.4
depreciation
Net book value 27,765 26,549 26,883 1,216 4.6 (334) (1.2)
BNI’s net fixed assets stood at IDR27.8 trillion in 2023, an increase of 4.6% from the previous year’s IDR26.5 trillion. None
of BNI’s fixed assets are pledged as collateral. The right-of-use assets as of December 31, 2023 stood at IDR1.4 trillion
(net). Management believes that there was no impairment in the value of fixed assets owned by BNI during the year as
management believes that the carrying value of fixed assets does not exceed the estimated value that can be recovered.
The contribution of fixed assets (net) to BNI’s total assets in 2023 and 2022 was 2.6% and 2.6%.
Deferred Tax Assets – Net
BNI’s net deferred tax assets amounted to IDR7.4 trillion in 2023, lower than the previous year’s position of IDR7.6 trillion
which is influenced by the provision of provisions for impairment losses on productive assets - other than loans provided.
LIABILITIES
Total Liabilities
(IDR-billion)
931.931
889.639
838.318
“BNI’s liabilities grew 4.8% to IDR931.9 trillion in 2023, mainly
supported by an increase in customer deposits and other
liabilities. BNI TPF rose 5.4% to IDR810.7 trillion in line with
the increase in CASA to IDR577.5 trillion with growth of 3.6%.
This growth in customer deposits helped to support the Bank’s
core business in lending. The growth in liabilities was also
influenced by an increase in other liabilities of IDR5.0 trillion, or
23.6% compared to the position in 2022, which was driven by
placements in the form of BI Foreign Exchange Export Proceeds
(DHE) amounting to IDR2.5 trillion.”
2021 2022 2023
Increase (Decrease) Increase (Decrease)
2022-2023 2021-2022
2023 2022 2021
Account Nominal
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Percentage
(IDR-
(IDR- billion) (%) (%)
billion)
Obligations due
5,295 4,686 4,554 609 13.0 132 2.9
immediately
Deposits from
810,730 769,269 729,169 41,461 5.4 40,100 5.5
customers
Deposits from other
11,894 15,245 14,377 (3,351) (22.0) 868 6.0
banks
Derivative payables 810 775 110 35 4.6 665 604.5
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Increase (Decrease) Increase (Decrease)
2022-2023 2021-2022
2023 2022 2021
Account Nominal
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Percentage
(IDR-
(IDR- billion) (%) (%)
billion)
Securities sold
under agreements 6,891 2,885 1,829 4,006 138.9 1,056 57.7
to repurchase
Acceptance
5,748 5,301 5,588 447 8.4 (287) (5.1)
payables
Accrued expenses 1,664 1,441 1,242 223 15.5 199 16.0
Taxes payable 823 1,551 1,284 (728) (46.9) 267 20.8
Employee benefits 7,006 6,880 6,138 126 1.8 742 12.1
Provisions 2,173 2,712 2,276 (539) (19.9) 436 19.2
Other liabilities 26,125 21,130 20,539 4,995 23.6 591 2.8
Debt Securities 4,893 4,897 2,986 (4) (0.1) 1,911 64.0
Borrowings 30,950 35,654 32,458 (4,704) (13.2) 3,196 9.8
Subordinated
16,929 17,213 15,765 (284) (1.6) 1,448 9.2
Securities
Total Liabilities 931,931 889,639 838,318 42,292 4.8 51,321 6.1
Obligations due immediately
BNI’s Obligations due immediately increased by IDR609 This showed that even during tight liquidity, BNI was able
billion, or 13.0% to IDR5.3 trillion, compared to the previous to collect low-cost funding sources. From the currency side,
position of IDR4.7 trillion, the increase in 2023 was in line BNITPF in Rupiah had a dominant portion, with 78.2% and
with the increase in several BNI obligations to third parties, 81.8% in 2023 and 2022, similar to the loan disbursement
including obligations as issuer banks (ATM) that increased dominated in Rupiah. On the other hand, the portion ofTPF
in 2022 by IDR284.3 billion, tax deposits as a collecting bank in foreign currency was 21.8% and 18.2%. TPF in foreign
amounting to IDR172 .9 billion, and remittances amounting currency reached IDR176.8 trillion, with TPF in US Dollars
to IDR101.2 billion. having the dominant portion, reaching IDR165.8 trillion in
2022 and IDR134.0 trillion the previous year.
Deposits from Customers
Following the tight banking industry liquidity conditions For 2023, the interest rate and annual profit sharing forTPF
during 2023, BNI’sTPF in 2023 amounted to IDR810.7 trillion, in Rupiah was 0.0%-7.5%; 0.0%-6.9% (US Dollar); 0.0%-1.8%
an increase of 5.4% from the previous year’s position of (Singapore Dollar); 0.0%-0.1% (Euro), and 0.0% (Japanese
IDR769.3 trillion. Of the total deposits, 71.6% were Current Yen).This compares to the previous year where the interest
Account Savings Accounts (CASA), or the equivalent of rate and annual profit sharing for TPF in Rupiah was 0.0%-
IDR577.5 trillion, compared to 3.6% growth, or IDR20.2 6.4%; 0.0%-4.8% (US Dollar); 0.0%-1.3% (Singapore Dollar);
trillion the previous year, mainly supported by increase in 0.0%-0.8% (Euro) and 0.0% (Japanese Yen).
current accounts of 9.8% to IDR345.5 trillion.
This increase is in line with BNI’s policy to optimize funding
sources from low-cost third parties. BNI’sThird Party Funds
(TPF) made a dominant contribution to liabilities, with
87.0% and 86.5% of total liabilities in 2023 and 2022. BNI’s
TPF portfolio composition is well diversified with 71.6
% savings and current account (CASA) and 28.4% time
deposits in 2023.
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Total Deposits from Customers
(IDR-billion)
810.730
769.269
729.169
2021 2022 2023
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Deposits by
Type Total Total Nominal Nominal
Total Composition Composition Composition Percentage Percentage
(IDR- (IDR- (IDR- (IDR-
(IDR-billion) (%) (%) (%) (%) (%)
billion) billion) billion) billion)
Current
345,496 42.6 314,625 40.9 281,398 38.6 30,871 9.8 33,227 11.8
accounts
Rupiah 203,157 25.1 211,972 27.6 197,760 27.1 (8,815) (4.2) 14,212 7. 2
Foreign
142,339 17.6 102,653 13.3 83,638 11.5 39,686 38.7 19,015 22.7
currency
Savings 231,982 28.6 242,695 31.5 224,670 30.8 (10,713) (4.4) 18,025 8.0
Rupiah 222,513 27.4 230,379 29.9 215,223 29.5 (7,866) (3.4) 15,156 7.0
Foreign
9,469 1.2 12,316 1.6 9,447 1.3 (2,847) (23.1) 2,869 30.4
currency
Total Current
accounts
577,478 71.2 557,320 72.4 506,068 69.4 20,158 3.6 51,252 10.1
and Savings
accounts
Time deposits 232,664 28.7 208,798 27.1 223,101 30.6 23,866 11.4 (14,303) (6.4)
Rupiah 208,275 25.7 185,146 24.1 195,790 26.9 23,129 12.5 (10,644) (5.4)
Foreign
24,389 3.0 23,652 3.1 27,311 3.7 737 3.1 (3,659) (13.4)
currency
Negotiable
Certificate of
588 0.1 3,151 0.4 - - (2,563) (81.3) 3,151 -
Deposit (NCD)
issued
Rupiah - - 1,920 0.2 - - (1,920) (100.0) 1,920 -
Foreign
588 0.1 1,231 0.2 - - (643) (52.2) 1,231 -
currency
Total Deposits
from 810,730 100.0 769,269 100.0 729,169 100.0 41,461 5.4 40,100 5.5
Customers
Rupiah 633,946 78.2 629,417 81.8 608,773 83.5 4,529 0.7 20,644 3.4
Foreign
176,784 21.8 139,852 18.2 120,396 16.5 36,932 26.4 19,456 16.2
currency
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42,6
28,6
2023
28,7
40,9
31,5
2022 27,2
38,6
2021 30,8
30,6
Giro Saving Deposit NCD
Deposits from Other Banks
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Account Total Nominal Nominal
Total Composition Composition Total Composition Percentage Percentage
(IDR- (IDR- (IDR-
(IDR-billion) (%) (%) (IDR-billion) (%) (%) (%)
billion) billion) billion)
Current
4.376 36.8 4,206 27.6 6,192 43.1 170 4.0 (1,986) (32.1)
Accounts
Time
804 6.8 903 5.9 1,530 10.6 (99) (11.0) (627) (41.0)
deposits
Other
1.080 9.1 1,173 7.7 2,114 14.7 (93) (7.9) (941) (44.5)
deposits
Interbank
money 5.118 43.0 8,175 53.6 4,541 31.6 (3,057) (37.4) 3,634 80.0
market
Negotiable
Certificate
516 4.3 788 5.2 - - (272) (34.5) 788 -
of Deposit
(NCD)
Total 11.894 100.0 15,245 100.0 14,377 100.0 (3,351) (22.0) 868 6.0
BNI’s deposits from other banks reached IDR12.0 trillion, a decrease of 22.0% in 2023 compared to the previous year’s
position of IDR15.2 trillion. This decrease was due to the Interbank Money Market (PUAB) instruments decreasing IDR3.1
trillion in 2023, a decrease of 37.4% compared to the 2022 position of IDR8.2 trillion. There was also a decrease in the
Negotiable Certificate Deposit (NCD) instruments of IDR272 billion.
The interest rate and annual profit sharing for deposits from other banks in Rupiah in 2023 is 0.0%-6.7% (Rupiah); 0.0%-
6.1% (US Dollar); 0.0%-0.5% (Japanese Yen); and 0.0%-4.2% (Singapore Dollar). For 2022, the interest rate and annual
profit sharing for this account from the four types of currency are respectively 0.0%-5.8% (Rupiah); 0,0%-5.0% (US Dollar);
0.0%-0.4% (Japanese Yen); and 0.0%-4.1% (Singapore Dollar).
Derivative Liabilities
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Related
136 118 12 18 15.3 106 883.3
parties
Third
674 657 98 17 2.6 559 570.4
parties
Total 810 775 110 35 4.5 665 604.5
When conducting business, BNI carries out derivative financial instrument transactions including foreign currency forward
contracts, foreign currency swaps, interest rate swaps and spot transactions for financing, trading and hedging purposes.
BNI’s derivative liabilities increased by IDR35 billion, or 4.5% to reach IDR810 billion compared to the previous year’s
IDR775 billion. The increase in derivative liabilities was mainly due to derivative liabilities to third parties that reached
IDR21.7 billion.
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Securities Sold under Repurchase Agreements
BNI’s securities sold under repurchase agreements increased by 138.9% from IDR2.9 trillion in 2022 to IDR6.9 trillion in
2023. The annual interest rate for securities sold under repurchase agreements was 1.3%-6.3% (US Dollar) for 2023 while
the annual interest rate in rupiah is 6.7%.
Acceptance Payable
BNI’s acceptance payables decreased from IDR5.3 trillion in 2022 to IDR5.7 trillion in 2023, an increase of 8.4%.This increase
was due to acceptance bills from third parties increasing from IDR4.3 trillion in the previous year to IDR4.7 trillion in 2023.
Accrued Expenses
Increase (Decrease) Increase (Decrease)
2021 2022-2023 2021-2022
2023 2022
Account (IDR-
(IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
billion)
(IDR- billion) (%) (IDR- billion) (%)
Issuer Bank Liabilities 461 308 98 153 49.7 210 214.3
Office expenses 467 474 501 (7) (1.5) (27) (5.4)
Technology and
telecommunication 559 510 476 49 9.6 34 7.1
expenses
Loyalty expenses 50 48 52 2 4.2 (4) (7.7)
Promotion expenses 5 6 6 (1) (16.7) - -
Others 122 95 109 27 28.4 (14) (12.8)
Total 1,664 1,441 1,242 223 15.5 199 16.0
BNI’s Accrued expenses reached IDR1.7 trillion in 2023, an increase of 15.5% compared to IDR1.4 trillion the previous year.
The increase in accrued expenses was mainly due to BNI’s obligations as the issuer of IDR153.0 billion.
Taxes Payable
Increase (Decrease) Increase (Decrease)
2021 2022-2023 2021-2022
2023 2022
Account (IDR-
(IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
billion)
(IDR- billion) (%) (IDR- billion) (%)
Corporate income tax 702 1,392 1,210 (690) (49.6) 182 15.0
Other taxes 121 159 74 (38) (35.9) 85 114.9
Total - neto 823 1,551 1,284 (728) (46.9) 267 20.8
BNI’s taxes payable decreased from IDR1.6 trillion in 2022 to IDR823 billion in 2023, a decrease of 46.9%. This decrease
was due to the decrease in corporate income tax debt from IDR1.4 trillion in 2022 to IDR702 billion in 2023, a decrease
of 49.6%, or IDR690 billion from the previous year.
Employee Benefits
Increase (Decrease) Increase (Decrease)
2021 2022-2023 2021-2022
2023 2022
Pos Akun (IDR-
(IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
billion)
(IDR- billion) (%) (IDR- billion) (%)
Employee Costs 2,525 3,157 2,229 (632) (20.0) 928 41.6
Other Long-term
4,481 3,723 3,909 758 20.4 (186) (4.8)
Employee Benefits
Total 7,006 6,880 6,138 126 1.8 742 12.1
Employee benefits in 2023 amounted to IDR7.0 trillion, an increase of 1.8% compared to IDR6.9 trillion in 2022. BNI’s
employee costs decreased from IDR3.2 trillion in 2022 to IDR2.5 trillion in 2023, a decrease of 20.2%, this was mainly due
to a change in the discount rate from 6.25% on December 31, 2021 to 7.25 % on December 31, 2022. Long-term employee
benefits, especially for the defined benefit pension programs, increased by IDR758 billion.
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Allowances
BNI’s allowance account consists of estimated losses on commitments and contingencies as well as provisions for legal
cases and others. BNI recorded a provision of IDR2.2 trillion, a decrease compared to IDR539.6 billion the previous year.
This decrease in provisions was due to estimated losses on commitments and contingencies, of IDR532.6 billion in 2022
from IDR2.2 trillion on December 31, 2023.This was due to the establishment of provisions for off balance sheet accounts
as a result of the implementation of PSAK 71 in 2020. Meanwhile, reserves for legal and other cases decreased by IDR7
billion compared to December 31, 2022.
Other Liabilities
Other liabilities increased by 23.6% from IDR21.1 trillion in 2022 to IDR26.1 trillion in 2023. This increase was due to BI’s
Foreign Exchange Export Proceeds (DHE) of IDR2.5 trillion.
Debt Securities
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
By Relationship
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Related parties 1,755 1,785 1, 012 (30) (1.7) 773 76.4
Third parties 3,139 3,112 1,974 27 0.9 1,138 57.6
Total 4,893 4,897 2,986 (4) (0.1) 1,911 64.0
On June 21, 2022, BNI issued Environmentally Friendly Bond (Green Bond) I PT Bank Negara Indonesia (Persero)Tbk 2022
(“Green Bond I 2022”) with a nominal value of IDR5 trillion, 100% (one hundred percent) of the principal amount, with
coupons paid quarterly, and listed on the Indonesia Stock Exchange (IDX) on June 22, 2022.The Green Bond I 2022 Public
Offering received an OJK Effective Permit through OJK letter No. S-93/D.04/2022 dated June 10, 2022. As of December 31,
2023, BNI Green Bond 2023 had a net value of IDR4.9 trillion after deducting unamortized issuance costs of IDR1.7 billion.
Borrowings
BNI loan borrowings consist of different loan types, including forwarding loans, liquidity loans for primary cooperative
loans to its members, bilateral loans, banker’s acceptance, and other loans.
Increase (Decrease) Increase (Decrease)
Borrowings by 2023 2022 2021 2022-2023 2021-2022
Type (IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Step Loans 52 56 57 (4) (7.1) (1) (1.8)
Liquidity loans for
Members
1 1 1 - - - -
of Primary
Cooperatives loans
Bilateral Loans 21,856 28,916 28,315 (7,060) (24.4) 601 2.1
Bankers Acceptance 7,768 6,066 3,278 1,702 28.1 2,788 85.1
Others 1,273 615 807 658 107.0 (192) (23.8)
Total 30,950 35,654 32,458 (4,704) (13.2) 3,196 9.8
The loans received by BNI consist of various loans, namely forward loans, liquidity credit for primary cooperative credit
to its members, bilateral loans, bankers acceptance and other loans. Total borrowings for the period ending December
31, 2023 amounted to IDR30.9 trillion, a decrease of 13.2% from the previous year’s position of IDR35.7 trillion. This
decrease was due to a decrease in bilateral loans by 24.4% to IDR21.9 trillion in 2023 from IDR28.9 trillion the previous
year, which was dominated by a decrease in overseas branch loans.
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Subordinated Securities
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
By Relationship
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Subordinated MTN - 100 100 (100) (100) - - -
BNI Tier 2
7,696 7,780 7,122 (84) (1.1) 658 9.2
Subordinated Notes
BNI Additional Tier 1
9,233 9,333 8,543 (100) (1.1) 790 9.2
Capital Securities
Total 16,929 17,213 15,765 (284) (1.7) 1,448 9.2
On December 31, 2023, the Subordinated MTN became On September 24, 2021, BNI issued AdditionalTier 1 Capital
due and was paid in full. The Subordinated MTN was first Securities (BNI Additional Tier 1 Capital Bond 2021) for
issued on June 8, 2018 for IDR100 billion with a term of 5 US$600 million with no term but a call option of 5.5 years,
years, with a coupon of 8%. with a coupon of 4.30% per year paid semi-annually, and
listed on the Singapore Exchange. AdditionalTier 1 Capital
On March 30 2021, BNI issued Tier 2 Subordinated Notes Securities can be recorded as a component of additional
(BNI Tier 2 Capital Bond 2021) for US$500 million for a core capital (Additional Tier 1) based on approval from
period of 5 years, with a coupon of 3.75% per year paid the Financial Services Authority through letter No. S-210/
semiannually, and listed on the Singapore Exchange.Tier PB.31/2021 dated September 30, 2021.
2 Subordinated Notes can be recorded as a component
of supplementary capital component (Tier 2) based on BNI used the proceeds from the Subordinated MTN issuance
approval from OJK through letter No. S-64/PB.31/2021 to strengthen complementary capital (Tier 2) and working
dated March 31 2021. As of December 31, 2023, BNI Tier 2 capital in the context of business development, especially
Subordinated Notes have a net value of IDR7.7 trillion after for lending and increasing the composition of long-term
deducting unamortized issuance costs of IDR2.3 billion, and fund structure, in accordance with OJK Regulation No.
have received ratings from Moody’s and Fitch with ratings 11/POJK.03/2016 concerning Minimum Capital Adequacy
of Ba2 and BB respectively. Requirements for Commercial Banks, as amended by OJK
Regulation No. 34/POJK.03/2016, and they will subsequently
be used by BNI to support the increase in productive assets.
On December 31, 2023, Additional Tier 1 Capital Securities
received a rating from Moody’s with a Ba3 rating.
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EQUITY
Total Equity
(IDR-billion)
154.733
140.198
126.520
“BNI’s total equity increased by 10.4% to IDR154.7 trillion in
2023. This significant increase came from an increase in retained
earnings of 14.0%, or IDR13.2 trillion compared to 2022 as a result
of BNI’s profit growth.”
2021 2022 2023
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Share capital: Issued
9,055 9,055 9,055 - - - - - -
and fully paid
Additional paid-in
17,010 17, 010 17,010 - - - - - -
capital
Share-Based Payment
260 - - 260 100.0
Reserves
Transactions with non-
2,257 2,257 2,257 - - - - - -
controlling interests
Asset Revaluation
15,448 15,441 15,442 7 0.0 (1) (0.0)
Reserve
Unrealized gains
(losses) on marketable
securities and
Government Bonds (896) (1,971) 1,949 1,075 (54.5) (3,920) (201.1)
at fair value through
other comprehensive
income, net of tax
Differences in Foreign
Currency Translation of (58) (36) (17) (22) (62.1) (19) 111 .8
Financial Statements
Retained earnings 107,236 94,060 78,250 13,176 14.0 15,810 20.2
Non-controlling
4,601 4,382 2,781 219 5.0 1,601 57.6
interests
Treasury Shares (180) - (207) (180) - - 207 - -
Total Equity 154,733 140,198 126,520 14,535 10.4 13,678 10.8
Total BNI Equity in 2023 was recorded at IDR154.7 trillion, an increase of 10.4% compared to last year. This increase
was as a result of BNI’s increasing profitability compared to last year, as will be explained in detail in the points below.
Share Capital
BNI’s share capital reached IDR9.1 trillion in 2023, the same as in 2022, which reached IDR9.1 trillion.
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Additional Paid-in Capital Unrealized Net Gains (Losses) in Marketable Securities
Additional paid-in capital/share premium at BNI reached by and Government Bonds, measured at Fair Value through
IDR17.0 trillion in 2023. This achievement has not changed Other Comprehensive Income, net of Tax
from 2022 of IDR17.0 trillion. Unrealized Net Losses from the increase in the fair value of
Marketable securities and Government Bonds measured at
Asset Revaluation Reserve fair value through other comprehensive income net of taxes
The asset revaluation reserve in 2022 was IDR15.4 trillion, at BNI amounted to IDR896 billion in 2023, an increase of
an increase of IDR7 billion from 2022 due to the realization IDR1.1 trillion from 2022, when unrealized loss amounted to
of revaluation losses on fixed assets in 2022, which were IDR2.0 trillion.This increase was due to the mark to market
sold in 2023. calculation of FVOCI and AC securities with the decrease in
market reference rates in 2023 compared to 2022.
Share-Based Payment Reserves
Referring to PSAK 53 concerning share-based payments, Difference in Foreign Currency Translation of Financial
banks are required to establish reserves for Share-Based Statements
Payments in accordance with the market price on the grant BNI’s Difference in Foreign CurrencyTranslation of Financial
date. The company has a share ownership remuneration Statements in 2022 reached IDR58 billion, a decrease of
program for the Board of Directors, non-independent Board IDR22 billion compared to IDR36 billion in 2021.
of Commissioners and employees, the distribution carried
out in 2022. However, the opening of the lock up period for Retained Earning
this distribution will be carried out in stages until 2025. As a Retained earning in 2023 reached by IDR107.2 trillion,
result of the program and mechanism for opening the lock an increase of IDR13.2 trillion or 14.0% compared to the
up period which is still up to 2025, the bank has set aside previous year of IDR94.1 trillion. The increase in profit
reserves for share-based payments worth IDR260 billion. achievement in 2023 was supported by BNI’s healthy
business expansion in low-risk segments, increased fee-
Transactions with Non-Controlling Interests based income and improved asset quality. This increase
Transactions with non-controlling interests amounting to in retained earnings has been reduced by cash dividend
IDR2.3 trillion in 2023 have not changed from 2022.The value payments on profits for the 2022 fiscal year of IDR7.3 trillion.
of transactions with controlling interests is all proceeds
from Sumitomo Life after deducting transaction costs for
the strategic partnership of the acquisition of 40% of BNI
Life shares by Sumitomo Life in 2013.
Total Retained Earnings
(IDR-billion)
107.236
94.060
78.250
2021 2022 2023
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Non-controlling interests
BNI’s Non-controlling interest in the consolidated net assets of subsidiaries reached IDR4.6 trillion, an increase of 5.0%,
or IDR220 billion from IDR4.4 trillion. This increase was due to an increase in profits of BNI subsidiaries.
Treasury Shares: Reacquired Capital Stock
In 2023, the Bank allocated Reacquired Capital Stock (Treasury Shares) worth IDR180 billion to a Share Ownership Program
for Bank Management and Employees in the form of Bonus Shares.
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Net Profit (Profit Attributable to Owners of
the Parent Entity - as a reference for dividend
distribution)
(IDR-billion)
20.909
18.312
“BNI recorded a profit in 2023 of IDR20.9 trillion, an increase of
14.2% YoY. The significant profit growth was due to a growth in
Operating Income other than Interest of 6.5% YoY, as well as a 10.898
decrease in the Establishment of Allowance for Impairment Losses
of 20.1% YoY due to improvements in the quality of productive
assets.”
2021 2022 2023
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Interest income and
61,472 54,659 50,026 4,633 9.3
sharia income 6,813 12.5
Sharia interest
(20,196) (13,338) (11,779) 1,559 (13.2)
expense and income (6,858) 51.4
Interest income and
41,276 41,321 38,247 3,074 8.0
sharia income - net (45) (0.1)
Net premium income 1,659 1,551 1,399 152 10.9
108 7.0
Other operating
19,812 18,600 16,219 2,380 14.7
income 1,212 6.5
Total operating income 62,747 61,472 55,865 5,607 10.0
1,275 2.1
Other operating
(27,778) (27,059) (24,801) (2,258) (9.1)
expenses (719) 2.7
Establishment
of allowance for (9,196) (11,514) (18,297) ¯ 6,783 37.1
2,318 (20.1)
impairment losses
Operational profit 25,773 22,899 12,767 2,874 12.6 10,132 79.4
Non-net operating
(133) (212) (216) 79 (37.3) 4 1.9
income (expenses)
Profit before tax
25,640 22,687 12,551 2,953 13.0 10,136 80.8
expense
Tax expense (4,534) (4,205) (1,574) (329) 7.8 (2,631) (167.2)
Current year profit 21,106 18,482 10,977 2,624 14.2 7,505 68.4
Other comprehensive
income, after income 674 (3,826) 745 4,500 (117.6) (4,571) (613.6)
tax
Total comprehensive
21,780 14,656 11,722 7,124 48.6 2,934 25.0
income for the period
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Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Profit for the year
attributable to:
Parent entity owner 20,909 18,312 10,898 2,597 14.2 7,414 68.0
Non-controlling
197 170 79 27 15.9 91 115.2
interests
Total comprehensive income for the period attributable to:
Parent entity owner 21,560 14,594 11,620 6,966 47.7 2,974 25.6
Non-controlling
220 62 102 158 254.8 (40) (1.6)
interests
Earnings per Share
Attributable to Owners
561 983 585 (422) (42.9) 398 68.0
of the Parent Entity
(EPS) (Full Rupiah)
Interest Income and Sharia Income
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Account Total Nominal Nominal
Total Composition Total Composition Composition Percentage Percentage
(IDR- (IDR- (IDR-
(IDR-billion) (%) (IDR-billion) (%) (%) (%) (%)
billion) billion) billion)
Loans
50,753 82.6 46,102 84.3 43,129 86.2 4,651 10.1 2,973 6.9
disbursed
Government
Bonds and 6,695 10.9 6,077 11.1 5,353 10.7 618 10.2 724 13.5
securities
Margin,
profit-
sharing
- - - - 333* 0.7 - - ¯ (333) -
revenue
and sharia
bonus
Placements
with other
banks 2,781 4.5 1,537 2.8 668 1.3 1,244 80.9 869 130.1
and Bank
Indonesia
Bills and
other 1,091 1.8 577 1.1 479 1.0 514 89.1 98 20.5
receivables
Others 152 0.2 366 0.7 64 0.1 (214) (58.5) 302 471.9
Total 61,472 100 54,659 100.0 50,026 100.0 6,813 12.5 4,633 9.3
*) Sharia income from BNI Syariah before the effective merger into PT Bank Syariah Indonesia Tbk as of February 1, 2021.
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82,6
10,9
0,7
2023
4,5
1,8
0,2
84,3
11,1
2022
2,8
1,1
0,7
86,2
10,7
0,7
2021
1,3
1,0
0,1
Loans disbursed Government bonds and securities Margin, profit-sharing revenue and sharia bonus
Placements with other banks and Bank Indonesia Bills and other receivables Others
BNI’s interest and sharia was IDR61.5 trillion, an increase of 12.5% YoY. Loan income still made the largest contribution,
with 82.6% of total interest income in 2023, followed by Government Bonds and Securities interest income of 10.9%.
Interest and Sharia Expenses
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Account Total Nominal
Composition Total Composition Total Composition Nominal Percentage Percentage
(IDR- (IDR-
(%) (IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%) (%)
billion) billion)
Deposits from
customers and 16,458 81.5 10,726 80.4 10,382 88.1 5,732 53.4 344 3.3
other banks
Other bank
2,713 13.4 1,279 9.6 770 6.5 1,434 112.1 509 66.1
borrowings
Mudharabah
profit- sharing - - - - 58* 0.5 - - (58) (100.0)
expenses
Securities
1,014 5.0 979 7. 3 552 4.7 35 3.6 427 77.2
issued
Others 11 0.1 354 2.7 17 0.1 (343) (96.9) 337 1.982.4
Total 20,196 100.0 13,338 100.0 11,779 100.0 6,858 51.4 1,559 13.2
*) Mudharabah Profit Sharing to Bank Syariah Indonesia becoming effective as of February 1, 2021.
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81,5
13,4
2023 1,4
0,1
80,4
9,6
2022 0,5
2,7
88,1
6,5
2021
6,5
Deposits from customers and other banks Borrowings Mudharabah profit sharing
Securities issued Others
The composition of interest and sharia expenses increased by IDR6.9 trillion, or 51.4% compared to the previous period.
Apart from being dominated by customer and other banks deposits ,which are BNI’s main source of funding with a
contribution of 81.5% in 2023 and 80.4% in 2022, the increase in interest expenses was also influenced by an increase in
interest expenses on borrowings of IDR1.4 trillion, and interest expenses on securities issued of IDR35 billion.
Interest Income Net
BNI’s interest income net was IDR41.3 trillion, a decrease of -0.1% or 45.0 billion compared to 2022. Although interest
income increased by 12.5% compared to 2022, it was offset by a significant increase in interest expense of 51.4%
compared to 2022.
Interest Income and Sharia Income – Net
(IDR-billion)
41.321 41.276
38.247
2021 2022 2023
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Premium Income - Net
This account represents the contribution of BNI Life as a BNI subsidiary that contributes to BNI’s consolidated income.
BNI Life’s net premium reached IDR1.7 trillion in 2023, an increase of 7.0% compared to IDR1.6 trillion in 2022. In addition,
investment income was affected by fluctuations in market prices for securities and Government Bonds, which are BNI
Life’s investment vehicles for portfolio development.
Premium Income - Net
(IDR-billion)
1.551 1.659
1.399
2021 2022 2023
Other Operating Income
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Other fees and
10,120 9,738 8,943 382 3.9 795 8.9
commission
Profit for Associated
1,328 1,083 698 245 22.6 385 55.2
Entities
Recovery of assets
5,030 3,780 2,580 1,250 33.1 1,200 46.5
written off
Unrealized gains/
(losses) from changes
in the fair value
73 15 (4) 58 386.7 19 (475.0)
of financial assets
measured at fair value
through profit or loss
Gain on sale of
financial assets
measured at fair
value through other 1,180 1,332 1,720 (152) (11.4) (388) (22.6)
comprehensive
income and fair value
through profit or loss
Foreign exchange
1,019 1,597 1,328 (578) (36.2) 269 20.3
gains - net
Others 1,061 1,055 953 6 0.6 102 10.6
Total 19,812 18,600 16,219 1,212 6.5 2,381 14.7
BNI’s other operating income was IDR19.8 trillion in 2023, an increase of 6.5% from the previous year’s IDR18.6 trillion.The
largest increase came from the recovery of assets written off amounting to IDR1.3 trillion, an increase of 33.1% compared
to 2022. In 2023 BNI received operating income from the profits of the associated entity PT Bank Syariah Indonesia Tbk
amounting to IDR1.3 trillion. an increase of 22.6% compared to IDR1.1 trillion in the December 2022 period. Revenue
from Fees and commissions also increased by IDR382 billion, or 3.9% compared to 2022.
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Other Operating Income
(IDR-billion)
18.600 19.812
16.219
2021 2022 2023
Other Operating Expenses
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Account Total Total Total Nominal Nominal
Composition Composition Composition Percentage Percentage
(IDR- (IDR- (IDR- (IDR- (IDR-
(%) (%) (%) (%) (%)
billion) billion) billion) billion) billion)
Salaries and
Employee
12,834 46.2 12,456 46.0 11,195 45.1 378 3.0 1,261 11.3
Benefits
Expenses
General and
Administrative 9,193 33.1 8,792 32.5 8,765 35.3 401 4.6 27 0.3
Expenses
Promotion
1,067 3.8 1,116 4.1 922 3.7 (49) (4.4) 194 21.0
Expenses
Guarantee
Savings 1,476 5.3 1,412 5.2 1,293 5.2 64 4.5 119 9.2
Premiums
Others 3,208 11.5 3,283 12.2 2,626 10.6 (75) (2.3) 657 25.0
Total 27,778 100 27,059 100.0 24,801 100.0 719 2.7 2,258 9.1
46,2
33,1
2023 3,8
5,3
11,5
46
32,5
2022 4,1
5,2
12,2
45,1
35,3
2021 3,7
5,2
10,6
Salaries and Employee Benefits Expenses General and Administrative Expenses Promotion Expenses
Guarantee Savings Premiums Others
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Overall, other operational expenses increased by 2.7% or IDR719 billion in 2023 to IDR27.8 trillion from IDR27.1 trillion
in 2022. This increase supported BNI’s business expansion throughout 2023. The increase in other operational expenses
was dominated by General Administrative Expenses that increased by IDR401 billion, and Salaries and Benefits expenses
that increased by IDR378 billion, or 3.0% compared to 2022.
Allowance for Impairment Losses
The formation of allowance for impairment losses in 2023 decreased by IDR2.3 trillion, or 20.1% to IDR9.2 trillion from the
previous IDR11.5 trillion in 2022. The formation of allowance for impairment losses is in line with quality improvements
consistent assets and the impact of business acceleration in low-risk segments.
Profit Before Tax Expenses
BNI’s profit before tax expenses in 2023 was IDR25.6 trillion, an increase of 13.0% compared to IDR22.7 trillion in 2022.
Profit Before Tax Expenses
(IDR-billion)
25.640
22.687
12.551
2021 2022 2023
Tax Expense
BNI’s tax expense was IDR4.5 trillion in 2023, increased by 7.8% compared to Rp4.2 trillion in 2022. Mainly due to an
increase in profit before tax of IDR2.9 trillion from IDR22.7 trillion in 2022 to IDR25.6 trillion in 2023.
Other Comprehensive Income, After Income Tax
In 2023, BNI’s other comprehensive income experienced a profit of IDR674 billion, compared to the previous year’s loss
of IDR3.8 trillion. This is dominated by the fair value position of financial assets measured at fair value through other
comprehensive income, which saw a significant increase in 2023.
Total Comprehensive Profit for the Current Period
BNI’s attributable profit and comprehensive income reached IDR21.8 trillion, an increase of IDR7.1 trillion, or 48.6%
compared to IDR14.7 trillion in 2022.
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Total Comprehensive Profit for the Current Period
(IDR-billion)
21.780
14.656
11.722
2021 2022 2023
Earnings per Share Attributed to Owners of the Parent Entity
Basic earnings for the year per share is calculated by dividing the profit for the year attributable to owners of the parent
entity by the weighted average number of ordinary shares outstanding during the year.
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Description
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Profit for the current
year attributable to
Equity Holder of the 20,909 18,312 10,898 2,597 14.2 7,414 68.0
Parent Entity (IDR-
billion)
Weighted average
number of ordinary
37,257* 18,638 18,620 18,619 99.9 18 0.1
shares outstanding
(million shares)
Basic earnings per
share attributable to
Equity Holder of the 561 983 585 (422) (42.9) 398 68.0
Parent Entity (full
amount)
* In 2023, BNI carried out a corporate action in the form of a stock split with a ratio of 1:2 which effectived starting October 6, 2023. The stock split did not cause a change in the
value of share ownership by investors because the number of shares in circulation will double, followed by the share price adjusting 0.5 times the previous price.
Earning per Share Attributable to Owners of the Parent Entity in 2023 is IDR561 from IDR983 in 2022 or a decrease of
42.9%. This decrease is the impact of a nominal share split (stock split) with a ratio of 1:2 based on the EGMS resolutions
on September 19, 2023. If the number of outstanding shares as a result of the stock split is calculated to be the same
for 2022 and 2023, then the basic earnings per share for 2022 and 2021 to IDR491 and IDR292. Thus, basic earnings per
share in 2023 increased by 14.3% compared to 2022.
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Basic Earnings per Share
(IDR-billion)
983
585
561
2021 2022 2023
CONSOLIDATED STATEMENT OF CASH FLOWS
Cash and Cash Equivalents at the End of the Year
(IDR-billion)
173.340
163.900
On a consolidated basis, in 2023 BNI recorded a decrease in net
cash flows of IDR8.9 trillion, an increase of 7.2% compared to the 154.879
decrease in net cash flows in 2022 of IDR9.6 trillion. The decrease
in net cash flow was influenced by funding activities for dividend
payments on current profits for the 2022 fiscal year as well as
investment activities on the purchase of Securities and Government
Bonds during 2023. Net cash flows from Operating, Investing and
Funding Activities in 2023 amounted to IDR9.3 trillion, (IDR10 .8
trillion), and (IDR7.4 trillion).
2021 2022 2023
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Net cash provided by
10,393 19,953 97,478 (9,560) (47.9) (77,525) (79.5)
operating activities
Net cash used for
(10,771) (32,233) (15,656) 21,462 (66.6) 16,577 105.9
investment activities
Net cash from/
(used for) financing (8,493) 2,725 1,719 (11,128) (411.7) 1,006 58.5
activities
Net increase in cash
(8,871) (9,555) 83,541 684 7.2 (93,096) (111.4)
and cash equivalents
Impact of losing
- - (37,614) - - - 37,614 (100.0)
control
Net cash flow after
the impact of loss of (8,871) (9,555) 45,927 684 7.2 (55,482) (120.8)
control
Exchange rate impact (150) 115 505 (265) (2.3) (390) (77.2)
Cash and cash
equivalents at the 163,900 173,340 126,908 (9,440) (5.4) 46,432 36.6
beginning of the year
Cash and cash
equivalents at the end 154,879 163,900 173,340 (9,021) (5.5) (9,440) (5.4)
of the year
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Cash Flows from Operating Activities
BNI’s net cash flows from operating activities was IDR10.4 trillion in 2023, and IDR20.0 trillion in 2022. This operating
cash flows activity was influenced by customer deposits of IDR41.5 trillion in 2023, being higher than the previous year’s
IDR32.0 trillion. In terms of operating assets, the decrease in cash flow from operating activities was also influenced by
an increase in securities and Government bonds measured at fair value through the profit and loss statement of IDR9.8
trillion from IDR4.8 trillion in 2022 to IDR5.0 trillion in 2023.
Cash Flows from Investment Activities
BNI’s net cash flows from investment activities was IDR10.8 trillion in 2023, and was dominated by purchases of
Government Bonds (net) of IDR5.4 trillion, and purchases of Securities (net) of IDR2.3 trillion in 2022. There was also a
cash flow investment in BNI Multifinance of IDR800 billion.
Cash Flows from Financing Activities
Cumulatively, net cash flows from funding activities was IDR8.5 trillion in 2023, which was dominated by 2 funding activities,
borrowings of IDR15.3 trillion, and borrowings repayments of IDR19.0 trillion. There were also dividend payments and
receipts from Issued Securities (net) of IDR7.3 trillion and IDR4.0 trillion, respectively.
Cash and Cash Equivalents at the End of Period
BNI recorded a net deficit in cash and cash equivalents of IDR8.9 trillion in 2023, which was dominated by cash flows
from financing borrowings, and dividend payments from financing activities, so the cash and cash equivalents at the
end of 2023 was IDR154.9 trillion.
ABILITY TO OPERATE AS WELL AS ABILITY TO GENERATE PROFITS AND PERFORM EFFICIENCIES
Selisih Selisih
2023 2022 2021
Description 2022-2023 2021-2022
(%) (%) (%)
(%) (%)
Profitability
Return On Assets (ROA) 2.6 2.5 1.4 0.1 1.1
Return On Equity (ROE) - Tier 1 Capital Based 16.8 16.4 10.4 0.4 6.0
Return on Equity (ROE) - Equity Based 15.2 14.9 9.4 0.3 5.5
Net Interest Margin (NIM) 4.6 4.8 4.7 (0.2) 0.1
Efficiency
Operating Expenses to Operating Income
68.4 68.6 81.2 (0.2) (12.6)
(BOPO)
Cost to Income (CIR) 42.9 42.6 43.3 0.3 (0.7)
Liquidity
Loan to Deposit Ratio (LDR) 85.8 84.2 79.7 1.6 4.5
Macroprudential Intermediation Ratio (RIM) 89.0 83.4 74.1 5.6 9.3
Asset Quality Ratios
1. Non-Performing Loan (NPL) Ratio
BNI’s NPL as of December 31, 2023 decreased from the previous year’s 2.8% to 2.1%, while Net NPL increased from
0.5% to 0.6%.This was due to BNI’s policy of prudently managing productive assets during the loan expansion period,
by selectively choosing loan sectors that focus on Top Tier debtors, supported by management of debtors in trouble
through remedial and restructuring schemes to support improvements in debtors’ financial and business conditions.
All the key steps for BNI’s NPL management.
2. Coverage Ratio
BNI’s coverage ratio on December 31, 2023 was 319.1%, an increase compared to 278.3% in 2022. Establishing a
higher coverage ratio is a risk mitigation step for future non-performing loans.
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Profitability Ratio 5. Cost to Income Ratio (CIR)
Cost to Income Ratio (CIR) is a ratio that measures
1. Return on Asset (ROA) the efficiency level of operating expenses incurred to
BNI’s Return on Assets (ROA) was recorded at 2.6%, an optimal income. BNI’s CIR increased by 0.3% from 42.6%
increase compared to 2022 of 2.5%. This increase is in in 2022 to 42.9% in 2023 in line with the increase in
line with the increase in BNI profits in 2023. operating expenses in 2023, which were not offset by
2. Return on Equity (ROE) growth in net interest income.
BNI’s Return on Equity (ROE) - Equity Based was 15.2%,
an increase compared to 14.9% in 2022. This increase Liquidity Ratio
was due to the significant increase in BNI’s profits in
2023, with BNI’s capital being sufficient to support the 1. Loan to Deposit Ratio (LDR)
Company’s operations. Loan to Deposit Ratio recorded the ratio of loans
3. Net Interest Margin (NIM) disbursed to deposits collected. BNI’s LDR in 2023
BNI’s Net Interest Margin (NIM) in 2023 saw a slight was 85.8%, an increase of 1.5% compared to 84.2%
decrease from 4.8% in 2022 to 4.6% in 2023, which was the previous year. This was mainly due to loan
due to the significant percentage increase in interest disbursements growth (7.0% YoY) compared to Third
expense, which was above the growth in interest income. Party Funds (TPF) that only grew by 5.1% YoY, mainly
4. Ratio of Operating Expenses to Operating Income due to the increasingly tight market liquidity.
BNI’s BOPO ratio (Operating Expenses to Operating
Income) decreased to 68.4% in 2023 from 68.6% in 2022. 2. Macroprudential Intermediation Ratio (RIM)
This was due to the growth in BNI’s operating income BNI’s Macroprudential Intermediation Ratio in 2023
that reached 6.5% in 2023, as well as CKPN expenses increased to 89.0% compared to 83.4% in 2022. The
that recorded negative growth of 20.1% during 2023. RIM ratio level in 2023 met the regulatory requirements
of 84%-94%.
COMPLIANCE RATIO
Difference Difference 2021-
2023 2022 2021
Description 2022-2023 2022
(%) (%) (%) (%) (%)
Minimum Statutory Reserve
(MSR)
MSR (Rupiah) 9.5 11.9 7.7 (2.4) 4.2
MSR (Foreign Currencies) 4.0 4.0 4.0 - -
Net Open Position 1.7 1.6 0.9 0.1 0.7
BMPK Violation Percentage Nil Nil Nil - -
BMPK Exceedance Percentage Nil Nil Nil - -
1. Minimum Statutory Reserves (MSR)
BNI consistently maintained an optimal level of liquidity for Conventional Commercial Banks, and the Board
adequacy to support its daily operations and fulfill Bank of Governors Members Regulation (PADG) No. 2 of
Indonesia regulations through the Minimum Statutory 2023 dated April 1, 2023 (2022: The Bank’s Minimum
Reserves (MSR). In 2023, BNI’s Rupiah MSR position Mandatory Reserves (MSR) was in compliance with
was 9.5% and the Foreign Currency MSR was 4.0%, a Bank Indonesia Regulation (PBI) No. 24/4/PBI/2022 dated
decrease compared to the previous year’s position, March 1, 2022 concerning Commercial Bank Minimum
especially for the Rupiah MSR of 2.4%, as a result Statutory Reserves in Rupiah and Foreign Currency
of the interest rate policy by Bank Indonesia until for Conventional Commercial Banks, and the Board
the end of 2023. BNI’s Statutory Minimum Reserves of Governors Members Regulation (PADG) No 24 /4/
(MSR) was in accordance with Bank Indonesia PBI/2022 dated March 1, 2022).
Regulation (PBI) No. 24/4/PBI/2022 dated March 1,
2022 concerning Minimum Mandatory Reserves for
Commercial Banks in Rupiah and Foreign Currency
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2. Net Open Position
BNI’s Net Open Position (NOP) for the period ending December 31, 2023 was 1.7%, higher than the previous year’s
position of 1.6%. However, this figure is still far below the maximum amount set by BI in PBI No. 5/13/PBI/2003
concerning the Net Open Position of Commercial Banks, as amended several times, most recently by PBI No. 17/5/
PBI/2015, which is 20% of capital.
3. Fulfillment of Compliance With the Maximum Lending Limit (BMPK)
There were no violations or excesses of LLL throughout 2023. BNI has adequate policies and carries out monitoring
of the maximum loan limit or LLL and House Limit for large debtors.
COMMITMENTS AND CONTINGENCIES
BNI has commitments and contingencies. An overview of the Bank’s commitments and contingencies stated at contract
value are as follows:
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Account
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Commitment Receivables
Unsettled Purchase
of Foreign Currency 95,743 95,553 71,605 190 0.2 23,948 33.4
Futures
Others 83 84 417 (1) (1.2) (333) (79.9)
Total 95,826 95,637 72,022 191 0.2 23,615 32.8
Commitment Payables
Unused Customer
55,883 57,335 59,614 (1,452) (2.5) (2,279) (3.8)
Loan Facilities
Irrevocable Letters
of Credit yang masih 16,854 16,074 8,746 780 4.9 7,328 83.8
berjalan
Sales of Foreign
Currency Futures 95,576 96,358 70,966 (782) (0.8) 25,392 35.8
Unresolved
Others 84 85 - (1) (1.2) 85 100.0
Total 168,397 169,852 139,326 (1,455) (0.9) 30,526 21.9
Contingent Receivables
Bank Guarantees
23,426 20,691 17,896 2,735 13.2 2,795 15.6
Received
Interest Receivable
on Non Performing 12,030 11,673 11,043 357 3.1 630 5.7
Assets
Others 459 382 330 77 20.2 52 15.8
Total 35,915 32,746 29,269 3,169 9.7 3,477 11.9
Contingent Payables
Guarantees Issued
in the form of 29,116 26,927 25,883 2,189 8.1 1,044 4.0
Performance Bonds
Advance Payment
11,951 10,809 7,850 1,142 10.6 2,959 37.7
Bonds
Standby Letters of
15,062 12,868 12,568 2,194 17.1 300 2.4
Credit
Other Bank
9,465 10,412 9,875 (947) (9.1) 537 5.4
Guarantees
Bid Bonds 1,183 2,092 1,479 (909) (43.5) 613 41.4
Shipping Guarantee - - 6 - - - (6) (100.0)
Others 2,001 571 - 1,430 250.4 571 100.0
Total 68,778 63,679 57,661 5,099 8.0 6,018 10.4
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The following table shows commitments and contingency transactions that occur in the Bank’s normal activities that
carry credit risk.
Increase (Decrease)
2023 2022 2022-2023
(IDR- billion) (IDR- billion) Nominal Percentage
(IDR- billion) (%)
Bank Guarantees Issued
Related Parties 22,324 22,336 (12) (0.1)
Third Parties 44,453 40,773 3,680 9.0
Irrevocable Letters of Credit
Related Parties 12,276 11,159 1,117 10.0
Third Parties 4,578 4,915 (337) (6.9)
Unused Loan Facilities
Related Parties 9,205 13,965 (4,760) (34.1)
Third Parties 46,679 43,370 3,309 7.6
Total 139,515 136,518 2,997 2.2
Commitment and contingency transactions that have a loan risk, based on collectability, are shown in the following table:
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Pos Akun
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Current 135,987 133,206 121,558 2,781 2.1 11,648 9.6
Special Mention 2,879 2,735 3,215 144 5.3 (480) (14.9)
Substandard 68 39 53 29 74.4 (14) (26.4)
Doubtful 80 65 107 15 23.1 (42) (39.3)
Loss 501 473 1,088 28 5.9 (615) (56.5)
Total 139,515 136,518 126,021 2,997 2.2 10,497 8.3
BNI has also compiled details related to Commitments and Contingencies growth, as shown in the following table:
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Pos Akun
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Commitment Receivables
Purchase of Foreign
Currency Futures Not 95,743 95,553 71,605 190 0.2 23,948 33.4
Resolved
Others 84 84 417 - - (333) (79.9)
Total Commitment
95,827 95,637 72,022 190 0.2 23,615 32.8
Receivables
Commitment Liabilities
Unused Customer
55,883 57,335 59,614 (1,452) (2.5) (2,279) (3.8)
Credit Facilities
Outstanding
Irrevocable Letters of 16,854 16,074 8,746 780 4.9 7,328 83.8
Credit
Ongoing Spot Sales
and Derivative 95,576 96,358 70,966 (782) (0.8) 25,392 35.8
Positions
Others 84 85 - (1) (1.2) 85 -
Total Commitment
168,397 169,852 139,326 (1,455) (0.9) 30,526 21.9
Liabilities
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Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Pos Akun
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Contingency Receivables
Bank Guarantees
23,426 20,691 17,896 2,735 13.2 2,795 15.6
Received
Interest Income in
12,030 11,673 11,043 357 3.1 630 5.7
Settlement
Others 459 382 330 77 20.2 52 15.8
Total Contingency
35,915 32,746 29,269 3,169 9.7 3,477 11.9
Receivables
Contingent Liabilities
Bank Guarantees
66,777 63,108 57,661 3,669 5.8 5,447 9.4
Provided
Other Contingent
2,001 571 - 1,430 250.4 571 100.0
Liabilities
Total Contingent 68,778 63,679 57,661 5,099 8.0 6,018 10.4
Liabilities
Commitment receivables increased by 0.2% in 2023 to exposure to market risks, such as currency risk and interest
reach IDR190 billion, most of which were for Purchase of rate risk. Derivative financial instruments are classified
Foreign Currency Futures Not Resolved. Total commitment in the consolidated statement of financial position at fair
liabilities in 2023 decreased by 0.9% compared to 2022, value. Any increase in the fair value of a derivative contract
largely influenced by a decrease in the position of Spot Sales is recorded as an asset if it has a positive fair value and as a
and Derivatives still running in 2022. Contingent receivables liability if it has a negative fair value. Derivative receivables
in 2023 increased by 9.7% compared to 2022, dominated and payables are classified as financial assets and liabilities
by an increase in Bank Guarantees Received by 13.2% and measured at fair value through profit or loss. Gains or
Others by 20.2%. Contingent liabilities increased by 8.0% in losses arising from changes in fair value are recognized
2023 compared to 2022, and was influenced by the increase in the consolidated income statement.
in performance bond guarantees. Overall, fluctuations in
the movement of commitments and contingencies were The fair value of derivative instruments is determined based
in line with loan growth, considering that debtors were on discounted cash flows and brokers’ quoted price models
increasingly optimizing the use of BNI’s products and or other instruments with similar characteristics. Foreign
services with competitive features. currency forward contracts, foreign currency swaps and
cross currency swaps and interest rate swaps are entered
DERIVATIVES AND HEDGING FACILITIES into for funding and trading purposes.
BNI conducts derivative transactions for the Bank’s interests In addition, in conducting business, BNI carries out
or for the Customer’s interests. In conducting its business, derivative financial instrument transactions such as foreign
BNI carries out derivative financial instrument transactions currency forward contracts, foreign currency swaps, interest
such as foreign currency forward contracts, foreign currency rate swaps and spot transactions for financing, trading and
swaps, interest rate swaps, and spot transactions to manage hedging purposes.
Derivative Receivables and Liabilities by Type and Currency
September 2023 2022
Fair Value National Amount Fair Value
Instrument National Amount In
Derivative Derivative In Foreign Derivative Derivative
Foreign Currency (Full
Receivables Receivables Currency (Full Receivables Receivables
Amount)
(IDR Million) (IDR Million) Amount) (IDR Million) (IDR Million)
Related Exchange Rates
Futures Contract
- Buy
CNY 416,972,397 7,084 - - - -
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Derivative Receivables and Liabilities by Type and Currency
September 2023 2022
Fair Value National Amount Fair Value
Instrument National Amount In
Derivative Derivative In Foreign Derivative Derivative
Foreign Currency (Full
Receivables Receivables Currency (Full Receivables Receivables
Amount)
(IDR Million) (IDR Million) Amount) (IDR Million) (IDR Million)
EUR - - - 9,166,660 1,458 -
USD 543,853,761 3,039 (78,127) 13,933,623 146 (2,386)
Futures Contract
- Sell
CNY 102,000,000 19 - - - -
EUR 4,000,000 - (988) 8,519,286 - (322)
USD 246,529,197 38,242 (7,255) 213,878,959 16,783 (11,858)
Swap Foreign
Currencies - Buy
EUR 46,764 18 - 241,427,287 22,520 (4,575)
JPY 27,529,802,340 72,213 (929) - - -
SGD 15,000,000 969 - - - -
USD 968,073,582 11,349 (198,979) 1,144,587,000 14,444 (54,680)
Swap Foreign
Currencies - Sell
AUD 11,000,000 270 (50) 7,000,000 - (538)
EUR 85,959,000 1,228 (16,180) 234,112,280 4,790 (35,280)
GBP 15,000,000 294 (1,447) 10,000,000 - (369)
SGD 88,844,400 8,123 (238) - - -
USD 1,328,878,993 300,017 (6,393) 2,073,075,398 126,318 (268,500)
Spot Foreign
Currencies - Buy
AUD 40,800,000 - (825) 250,000 21 -
EUR 16,500,000 - (783) 3,200,000 139 -
GBP 3,250,000 - (281) 171,000 7 -
USD 198,539,729 956 (4,759) 152,940,000 18 (14,341)
Spot Foreign
Currencies - Sell
AUD 35,064,185 482 (40) - - -
EUR 9,900,000 337 - 1,350,000 1 (1)
USD 197,070,000 3,871 (834) 162,680,000 14,764 (65)
Interest Rate Related
Swap on Interest
Rates
USD 530,138,055 356,400 (321,987) 668,026,229 378,399 (366,427)
Exchange Rate and Interest Rate Related
Swap in Foreign
Currencies and
Interest Rates
USD 776,376,200 157,150 (109,419) 436,345,780 97,113 (13,547)
Risk Free Rate
IDR 1,000,000,000,000 11,408 (4,080) - - -
USD 350,398,400 22,208 (56,868) 110,874,000 8,316 (2,242)
Total 995,677 (810,462) 685,237 (775,131)
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Derivative Receivables and Liabilities based on Relationships
Increase (Decrease)
2023 2022 2022-2023
(IDR-billion) (IDR-billion) Nominal Percentage
(IDR-billion) (%)
Derivative Receivables
Related Parties
Foreign Currency 37,939 4,189 33,750 805.7
Third Parties
Rupiah 11,407 - 11,407 100.0
Foreign Currency 946,331 681,048 265,283 39.0
Total 995,677 685,237 310,440 45.3
Derivative Liabilities
Related Parties
Foreign Currency (136,138) (118,439) (17,699) 14.9
Third Parties
Rupiah (4,080) - (4,080) 100.0
Foreign Currency (670,244) (656,692) (13,552) 2.1
Total (810,462) (775,131) (35,331) 4.6
All derivative receivables as of December 31, 2023 and 2022 are classified as current based on the results of the Bank’s
management review and evaluation.
BANK HEALTH LEVEL 1. Risk Profile
Risk Profile Assessment is carried out by assessing
Bank Health Level (BHL) is the result of the Bank’s risk the Inherent Risk (risk inherent in the Bank’s
and performance assessment. The Bank’s Health Level activities) and the Quality of Risk Management
Assessment is carried out using a Risk-based Bank Rating Implementation (KPMR) for 8 types of risk.
approach both individually as well as on a consolidated 2. Governance (Good Corporate Governance)
basis. The Bank’s Health level is a means to identify at an Governance Assessment is an assessment of
early stage the bank’s problems, determine the future the quality of Bank management regarding the
business strategy, formulate and implement corrective implementation of Governance principles.
action over the Bank’s weakness/problem, provide the basis 3. Profitability (Earnings)
for the process of linking capital with risk, as a basis for Assessment of the profitability factor includes
decision-making as well as to enhance competitiveness. evaluation of profitability performance, profitability
sources, sustainability of profitability, and
BNI Health Level Assessment is carried out in accordance profitability management.
with Financial Services Authority Regulation (POJK) 4. Capital (Capital)
No. 4/POJK.03/2016 dated January 26, 2016 concerning Assessment of capital factors includes evaluation
Assessment of the Health Level of Commercial Banks of capital adequacy and capital management
and Ministerial Regulation (Permen) for State-Owned adequacy. In assessing capital adequacy, BNI links
Enterprises (BUMN) No. PER-2/MBU/03/2023 dated March 3, capital adequacy to its risk profile.
2023 concerning Guidelines for Governance and Significant
Corporate Activities of State-Owned Enterprises. Bank Health Level Assessments are reported to the
regulator (OJK) every 6 months (semesterly) in the
A. Bank Health Level Based on Financial Services Authority June and December periods. The results of the Bank
(OJK) Regulations BNI Health Level assessment for the period December
Based on the provisions of POJK No. 4/POJK.03/2016, 31, 2023 are ranked “Healthy”, which means that:
the assessment of the Bank’s Health Level is carried 1. BNI’s condition is generally healthy, so it is
out using a risk approach (Risk-based Bank Rating) considered capable of facing significant negative
both individually and on a consolidated basis, with impacts from changes in business conditions and
the scope of the assessment carried out based on the other external factors.
following 4 (four) factors: 2. The rating of the assessment factors (Risk Profile,
Governance, Profitability and Capital) is generally
good. If there are weaknesses, then in general these
weaknesses are less significant.
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B. Bank Health Level Based on the Regulations of the Ministry of State-Owned Enterprises (BUMN)
Based on BUMN Ministerial Regulation No. PER-2/MBU/03/2023, Bank Health Levels are assessed using Ratings which
are based on ratings carried out by National Rating Companies, International Rating Companies, and National Rating
Companies affiliated with International Rating Companies.
The rating carried out to assess the Bank’s Health Level is carried out 1 (one) time in 1 (one) year based on the
performance of the consolidated audit financial report for the relevant financial year and submitted to the Ministry
of BUMN no later than May of the current year.
In order to comply with Article 80 paragraph (1) of the Minister of State-Owned Enterprises Regulation Number
PER-2/MBU/03/2023 concerning Guidelines for Governance and Significant Corporate Activities of State-Owned
Enterprises, Bank Health Level Assessment through Ratings is carried out by the International Rating Agency (Fitch
Ratings, Moody’s, and S&P) and the National Rating Agency (Pefindo) with the Health Level results for PT Bank
Negara Indonesia (Persero) as follows:
Final Rating
Rating Agency Rating Health Level Classification
Fitch Ratings BBB-/ Stable AAA Very Healthy
Moody’s Baa2/ Stable AAA Very Healthy
S&P BBB-/ Stable AAA Very Healthy
Pefindo idAAA/ Stable AAA Very Healthy
Thus, the Health Level for PT Bank Negara Indonesia (Persero) Tbk based on the provisions of PER-2/MBU/03/2023 is
AAA with a Very Healthy classification.
PLEDGED BANK ASSETS
Ther were no pledged assets at BNI in the period ending December 31, 2023.
PRIME LENDING RATE (SBDK)
Based on OJK Regulation No. 37/POJK.03/2019 concerning Transparency and Publication of Bank Reports, and Bank
Indonesia Regulation No. 7/6/PBI/2005 concerning Transparency of Bank Product Information and Use of Customer
Personal Data (State Gazette of the Republic of Indonesia of 2005 No. 16, Supplement to State Gazette of the Republic
of Indonesia No. 4475), Commercial Banks who carry out conventional business activities in Indonesia are required to
report and publish the Prime Lending Rate (SBDK) in Rupiah.
The prime lending rate implementation aims to provide clarity to customers and facilitate customers in weighing the
benefits, costs and loan risks offered by the Company. In addition, publication of SBDK is intended to improve Good
Governance and promote healthy competition in the banking industry, among others, through the creation of better
market disciplines.
In addition, the prime lending rate is used as an indicator of the amount of loan interest rates that will be charged to
customers applying for Bank loans. Therefore, BNI updates the prime lending rate in accordance with the movement of
the reference interest rate set by Bank Indonesia. In general, SBDK is calculated based on 3 (three) components, namely
the Principal Cost of Funds for Credit (HPDK) arising from customer fund collection activities, operating expenses
incurred for fundraising and lending and the profit margin component set by the Company in its lending activities. The
prime lending rate calculation does not take into account the risk premium component of the debtor, the amount of
which depends on the risk assessment of each debtor. Thus, the loan interest rate charged to debtors is not necessarily
the same as the prime lending rate.
BNI is required to report the prime lending rate calculation to Bank Indonesia on a monthly basis and periodically
publish it in wider media. The prime lending rate calculation applies to corporate loans, retail loans, micro loans and
consumption loans (KPR and non-KPR). However, Bank Indonesia submits the classification of corporate loans, retail
loans and consumer loans (KPR and non-KPR) based on internal criteria used by each bank.
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The following shows the SBDK determined by BNI in 2023.
Prime Lending Rate Per Year Based On Business Segments
Consumption Loans
Corporate Retail Loans Micro Loans
Loans (%) (%) (%) Non KPR
KPR
(%)
Prime Lending Rate 8.00 8.25 - 7.25 8.75
Prime Lending Rate 8.05 8.30 - 7.30 8.80
IMPACT OF CHANGES IN INTEREST RATES ON BNI PERFORMANCE
8,80% 8,80%
8,75% 8,75%
8,30% 8,30%
8,25% 8,25%
8,05% 8,05%
8,00% 8,00%
7,90%
7,65%
7,66%
7,50%
7,25% 7,30% 7,30%
7,25%
Des-22 Mar-23 Jun-23 Sep-23
SBDK Corporate SBDK Retail SBDK KPR SBDK Non-KPR Loan Yield
Corporate, Retail, KPR and Non-KPR prime lending rates saw an increase of 5bps in the second quarter of 2023. The
increase in prime lending rates in the second quarter had an impact on loan yields in the period from quarter 2 to quarter
3, which experienced an increase of 24bps. On a YtD basis, SBDK for each segment increased by 5bps and loan yields
increased by 40bps.
In 2023, BI raised the benchmark interest rate 2 (two) times, at the beginning of the year in January 2023 and in October
2023, and until now it is at the same level as before the pandemic, namely 6%. In total, BI raised interest rates by 50
basis points in 2023. The Bank Indonesia Board of Governors (RDG) Meeting on October 18-19, 2023 increased the BI
7-Day Reverse Repo Rate (BI7DRR) to 6%, the Deposit Facility interest rate to 5.25%, and the Lending Facility interest
rate to 6.75%. These increases were to strengthen the policy of stabilizing the rupiah exchange rate from the impact of
increasing global uncertainty.
On December 21, 2023, Bank Indonesia started to use the name BI-Rate as the policy interest rate replacing the BI 7-Day
(Reverse) Repo Rate to strengthen monetary policy communication. This name change does not change the meaning
and objectives of BI-Rate as Bank Indonesia’s monetary policy stance, and its operationalization continues to refer to
Bank Indonesia reverse repo transactions with a tenor of 7 (seven) days.
The Bank Indonesia Board of Governors (RDG) meeting on December 20-21, 2023 decided to maintain the BI-Rate at
6.00%, the Deposit Facility interest rate at 5.25%, and the Lending Facility interest rate at 6.75%. The decision to maintain
the BI-Rate at 6.00% was consistent with the focus of pro-stability monetary policy, namely to strengthen the stabilization
of the Rupiah exchange rate, and were pre-emptive and forward looking steps to ensure inflation remained under control
within the target of 2.5 ± 1% in 2024.
This upward trend impacted BNI’s NIM that increased to 4.6% in 2023 compared to 4.8% (2022) and 4.7% (2021).
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FEE BASED INCOME ACCELERATION GROWTH
Increase (Decrease) Increase (Decrease)
2023 2022 2021
2022-2023 2021-2022
Account
Total Composition Total Composition Total Composition Nominal Percentage Nominal Percentage
(IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%) (IDR-billion) (%)
Recurring
14,438 97.7 13,629 92.0 12,620 92.5 809 5.9 1,009 8.0
Fee
Non
Recurring 344 2.3 1,191 8.0 1,019 7.5 (847) (71.1) 172 16.9
Fee
Total 14,783 100.0 14,820 100.0 13,639 100.0 (37) (0.2) 1,181 8.7
Fee Based Income Development
(IDR-billion)
14.820 14.783
13.639
2021 2022 2023
BNI’s Fee Based Income in 2023 was IDR14.8 trillion, a consolidated growth of negative 0.2% from IDR14.8 trillion in
2022. This increase was mainly dominated by 3 (three) banking activities including Pension Funds, Bank Guarantee
Under Counter (BGUC), and Forex Trading. The Pension Funds increase was 35.3% compared to 2022. The Bank
Guarantee Under Counter (BGUC) increase was 32.4% compared to 2022. The Forex Trading increase was 29.1%
compared to 2022 in line with the increase in sales volume.
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Ability to
Pay Debt
BNI maintains a good level of liquidity and solvency.This is demonstrated by BNI’s ability to fulfill all maturing obligations
on time, both in terms of debt principal payments and interest payments.
1. Bank Liquidity: Ability to Pay Short-Term Debt
BNI’s ability to fulfill short-term obligations is carried out by good liquidity management.
To increase short-term liquidity resilience, BNI maintains adequate liquidity by managing several indicators, including
Primary Reserve (Minimum Demand Deposit and Cash), Secondary Reserve (Liquidity Reserve), and Liquidity Coverage
Ratio (LCR) in accordance with regulatory provisions. LCR is a comparison ratio between High Quality Liquid Assets
(HQLA) and estimated total net cash outflow for the next 30 days in a crisis scenario. In December 2023, BNI’s LCR
reached 191.5% (bank only) and 197.2% (consolidated), above the regulator’s provisions which stipulate that LCR
fulfillment is at least 100%.
To manage liquidity over a longer period (1 year), BNI maintains the Net Stable Funding Ratio (NFSR) by increasing
the Bank’s funding stability, adjusted to the composition of assets and administrative accounts. NSFR is a ratio
comparing the Available Stable Funding with the Required Stable Funding. As of December 2023, BNI’s NSFR was
145.3% (bank only) and 146.4% (consolidated), above the regulatory provisions which stipulate NSFR compliance at
a minimum of 100%.
Difference Difference
2023 2022 2021
Description 2022-2023 2021-2022
(%) (%) (%) (%) (%)
Liquidity Coverage Ratio (LCR)
Bank Only 191.5 219.0 230.2 (27.5) (11.2)
Consolidation 197.2 223.4 230.7 (26.2) (7.3)
Net Stable Funding Ratio (NFSR)
Bank Only 145.3 164.1 151.8 (18.8) 12.3
Consolidation 146.4 165.7 151.8 (19.3) 13.9
2. Bank Solvency: Ability to Pay Long-Term Debt
BNI’s capital adequacy ratio (CAR) is the ratio of capital to risk-weighted assets (RWA).
Difference Difference
2023 2022 2021
Description 2022-2023 2021-2022
(%) (%) (%)
(%) (%)
Capital Adequacy Ratio (CAR)-Tier I 20.2 17.5 17.7 2.7 (0.2)
Capital Adequacy Ratio (CAR)-Tier II 1.7 1.8 2.0 (0.1) (0.2)
Capital Adequacy Ratio (CAR) (Loan, Market and
21.9 19.3 19.7 2.6 (0.4)
Operational Risk)
BNI’s capital adequacy ratio (CAR) is the ratio of capital to risk-weighted assets (RWA). In 2022 BNI’s CAR increased
to 22.0%, from 19.3% in 2022. This shows that BNI’s capital structure is capable of offset loan risk, market risk and
operational risk, where the ratio is higher than the minimum capital adequacy set by the regulator.
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Company Receivables Collectibility
Level/Loan Collectibility Level
ASSET QUALITY
Difference Difference
2023 2022 2021
Perihal 2022-2023 2021-2022
(%) (%) (%)
(%) (%)
Non-Performing Loan (NPL) Neto 0.6 0.5 0.7 0.1 (0.2)
Non-Performing Loan (NPL) Gross 2.1 2.8 3.7 (0.7) (0.9)
Adequacy ratio of provision for losses to non- performing loans/
319.0 278.3 233.4 40.7 44.9
Coverage Ratio
In December 2023, BNI’s Gross NPL was IDR14.7 trillion, or 2.1% of total loans, an improvement of IDR3.3 trillion, or a
decrease of 0.7% compared to the previous year. Loan provisions stood at IDR46.9 trillion, with the Coverage Ratio for
Problem Loans at 319.0%, an increase from the previous year’s 40.7%.
LOAN RESTRUCTURING
The total number of restructured loans continued to decline, as of December 31, 2023, BNI’s total restructured loans were
IDR75.8 trillion, or 11.0% of total loans, a decrease of IDR16.3 trillion, or 17.7% from December 31, 2022.
Restructured Loans Based on Restructuring Categories
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Category
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Decrease in Loan Interest
23,729 27,824 34,984 (4,095) (14.7) (7,160) (20.5)
Rates
Extension of Loan Period 25,940 26,100 33,912 (160) (0.6) (7,812) (23.0)
Other Restructuring
26,122 38,135 54,033 (12,013) (31.5) (15,898) (29.4)
Scheme
Total 75,791 92,059 122,929 (16,268) (17.7) (30,870) (25.1)
Allowance for
(33,615) (36,560) (35,065) 2,945 (8.1) (1,495) 4.3
Impairment Losses
Total - neto 42,176 55,499 87,864 (13,323) (24.0) (32,365) (36.8)
Restructured Loans per Collectibility
Increase (Decrease) Increase (Decrease)
2022-2023 2021-2022
2023 2022 2021
Perihal
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Current 40,863 62,684 87,112 (21,821) (34.8) (24,428) (28.0)
Special Mention 29,500 19,183 24,523 10,317 53.8 (5,340) (21.8)
Substandard 2,388 2,804 3,862 (416) (14.8) (1,058) (27.4)
Doubtful 678 723 1,528 (45) (6.2) (805) (52.7)
Bad 2,362 6,665 5,904 (4,303) (64.6) 761 12.9
Total 75,791 92,059 122,929 (16,268) (17.7) (30,870) (25.1)
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Restructured Loans per Type of Business Sector
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Business Sector
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Business Services 9,129 11,250 14,612 (2,121) (18.9) (3,362) (23.0)
Social Services 995 1,339 2,196 (344) (25.7) (857) (39.0)
Construction 13,156 14,570 18,092 (1,414) (9.7) (3,522) (19.5)
Others 3,765 6,908 11,348 (3,143) (45.5) (4,440) (39.1)
Electricity, Gas and Water 364 428 2,289 (64) (15.0) (1,861) (81.3)
Freight, warehousing and
5,258 6,963 5,699 (1,705) (24.5) 1,264 22.2
communications
Trading, Restaurants and
13,292 19,741 27,457 (6,449) (32.7) (7,716) (28.1)
hotels
Mining 7,743 1,283 1,502 6,460 503.5 (219) (14.6)
Industry 19,073 24,557 29,904 (5,484) (22.3) (5,347) (17.9)
Agriculture 3,016 5,020 9,830 (2,004) (39.9) (4,810) (48.9)
Total 75,791 92,059 122,929 (16,268) (17.7) (30,870) (25.1)
The decrease in the number of restructured loans was driven by a decrease in the most affected sectors, such as the
Restaurant and Hotel sector that fell by IDR6.5 trillion or 32.7%, the Industrial sector that fell IDR5.5 trillion or 22.3%,
and the Agriculture that fell by IDR2.0 trillion or 39.9% from the positions on December 31, 2022, which shows that the
economy is in a period of recovery.
Restructured Loans per Designation Type
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Designation
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Working capital Loans 54,956 60,116 74,401 (5,160) (8.6) (14,285) (19.2)
Investment Loans 17,095 26,191 40,677 (9,096) (34.7) (14,486) (35.6)
Consumptive Loans 3,740 5,752 7,851 (2,012) (35.0) (2,099) (26.7)
Total 75,791 92,059 122,929 (16,268) (17.7) (30,870) (25.1)
When viewed from the type of loan disbursed, the largest restructured loans composition as of December 31, 2023
was in the Working Capital Loans that accounted for 72.5% of the total restructured loans or IDR75.8 trillion, but YoY it
experienced a significant decrease of IDR16.3 trillion YoY is in line with economic recovery and improvements in BNI’s
loan quality during 2023.
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Restructured Loans per Segment Type
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022-2023 2021-2022
Segment
(IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Consumer 3,738 5,766 7,851 (2,028) (35.2) (2,085) (26.6)
Corporate 49,319 48,418 61,349 901 1.9 (12,931) (21.1)
Small 9,328 13,543 19,629 (4,215) (31.1) (6,086) (31.0)
Middle 13,406 24,332 34,100 (10,926) (44.9) (9,768) (28.6)
Total 75,791 92,059 122,929 (16,268) (17.7) (30,870) (25.1)
The segments that experienced decreases in restructured loans were the medium segment that decreased by IDR10.9
trillion or 44.9% YoY, followed by the Small segment that decreased by IDR4.2 trillion or 31.1% YoY.
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Credit Risk
Management
To face the global and national economic situation, banks In addition, to minimizing risks when disbursing loans to
continue to prioritize the principle of prudence in managing the Business Banking segment, there is a Rejected Debtor
business risks and credit portfolios. BNI’s strategy is to Directory (3D) application, where through this application
disburse loans to customers with good loan quality, and is the Business Unit inputs data related to debtors or
carried out very prudently, with very strict loan monitoring. prospective debtors who are rejected by loan proposers.
Strategy and Policy for 2023 To improve loans, BNI continued to improve its risk culture
BNI continues to apply its sustainable loan risk management through an end-to-end credit process transformation
strategies and policies to produce consistent quality loan program that included strengthening LaR management
growth.The end of the COVID-19 stimulus policy explained strategies. In 2023, BNI instigated strategic policies
the importance of determining the right strategy, especially supported by initiatives to strengthen discipline in the
in determining the risk profile of debtors, and determining credit risk management and processes. The initiatives
the market targets. to strengthen risk management carried out included the
following:
BNI continues to optimize Credit Risk Management and
carries out enhancements at every stage of the credit process 1. Pipeline Management Development:
by determining target markets based on priority sectors, a. Developed Pipeline Management using sharper
developing Pipeline Management with Pre Screening and pre-screening and Risk Acceptance Criteria (RAC).
Risk Acceptance Criteria (RAC) that have been sharpened, b. Further developed of Pipeline Management by
strengthening the underwriting process, credit monitoring, adding Environmental, Social and Corporate
and credit remedial & recovery. Governance (ESG) factors to the Industry Risk
Appetite and Risk Acceptance Criteria.
In 2023 BNI implemented a New Way of Working (NWOW) c. Focused Target Market
by strengthening credit risk management in all BNI loan i) Focused on expanding Diamond Clients, Wave
segments, through the formation of a Senior Credit Risk Clients, Regional Target Markets, value chain and
Executive (SCX), and by strengthening the risk function in supply chain financing.
all operational units. » Developed competitive schemes to meet
the needs of customers and their entire
Credit Process Flow ecosystem as a total financial solution.
In the Business Banking segment, BNI made improvements » Monitored the progress of Leads execution
to the loan granting process flow in the Corporate Banking, and evaluating the constraints.
Enterprise Banking, Commercial Banking segments as well » Strengthened international business networks
as the Retail Banking Segment. Improvements made to to support global market penetration.
the Corporate Banking, Enterprise Banking, Commercial ii) Value Chain Analysis (suppliers/buyers/others) and
Banking and Retail Banking Segments included: Tactical Account Planning (TAP) for each Diamond
1. Sharpening the business units functions in planning Client loan proposal in the Corporate Banking
prospect lists, marketing, conducting throrough credit Segment, Enterprise Banking and for Prime
worthiness assessments (including first way out and Customers in the Corporate Banking, Commercial
second way out analysis), and debtor monitoring. Banking and Retail Productive Banking Segment
2. Sharpening the function of the risk unit in conducting by prioritizing the risk culture.
loan risk analysis (deep dive) and identification- iii) Increased green lending-based expansion in BNI’s
mitigation/risk control, as well as analyzing and loan portfolio to support ESG initiatives.
monitoring information related to loans and the debtor iv) Continued to play a role in the MSME business
industry. through BNI Xpora to increase the potential for
3. Adding and sharpening of the Credit Operations function MSMEs to Go Global.
in carrying out checks & balances on the assessment d. Implemented RMTools (Connect) in Pipeline Management
results of the Public Appraisal Services Office (KJPP), to digitize the pipeline management process.
calculating the CEV collateral, and implementing
the advisory function related to loan operations
documentary & activities in the Credit Committee.
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2. Underwriting process development a. Establishing a Collateral Valuation Department to
a. Developed a Loan Management System to integrate carry out the check and balance function on the
all end to end loan application processes. Public Appraisal Services Office (KJPP) assessment
b. Improved the capability & quality of data results for the Corporate, Enterprise, & Commercial
management and advanced data analytics for segments and compiling the Cash Equivalent Value
the Corporate Banking, Enterprise Banking and (CEV) calculation for collateral submitted by debtors.
Commercial Banking Segments. b. Establishing a Credit Operations Advisory
c. Enhanced credit risk analytics through sensitivity Department to provide advisory in terms of legal
analysis and stress testing of credit portfolios with aspects on documents and legal credit operations.
changes in economic conditions, reviewed credit c. Ensuring that all collateral is perfectly bound
risk methodology, risk-based pricing, and enhanced and ensuring the closing process is carried out
impairment models. in accordance with credit decisions to safeguard
d. Optimized underwriting tools to meet business BNI’s interests.
needs. d. Ensuring compliance that loan documentation is
e. Aligned Credit policy for onshore and KLN loans. complete and in accordance with provisions.
f. Improved the Retail Productive segment business e. Monitoring the credit operations control activities
processes with a scoring model for processing loans and performance in all credit segments.
up to a maximum of IDR5 billion. f. Ensuring Credit Operations activities are carried
g. Developed a scoring model for processing loans up out independently in each credit segment, in an
to a maximum of IDR10 billion to improve business orderly and prudently manner to achieve Operations
processes in the Retail Productive segment. Excellence (Accurate, Fast, Lean). Implementing
the centralized Credit Operations is carried out by
3. Strengthening the Monitoring Process migrating Functions and Organizations, including:
a. Strengthened the monitoring process by improving i) Credit Operations at Regional Offices that
monitoring tools by implementing the Single were previously on a solid line with Regional
Integrated Monitoring System (SIMON). Offices;
b. Intensified monitoring of debtor conditions, ii) Credit Operations at Branch Offices that were
accompanied by comprehensive evaluation and originally under the supervision of Branch
treatment of debtors to determine the risk profile Offices on a solid line with Regional Offices;
and level of debtor loans that are more sustainable. iii) Credit Operations at the Jakarta Consumer
Credit Center that were originally under the
4. Strengthening the Risk function by establishing an SEVP supervision of the Retail Credit Risk (RTC)
Credit Risk and Senior Credit Risk Executive (SCX), Division;
and strengthening the risk function in all operational iv) Credit Operations at Consumer Credit Centers
units through the New Way of Working (NWOW). outside Jakarta that were originally under the
supervision of the Regional Office;
5. Improving Human Capital Capabilities and Competencies v) The credit operations function includes claims
a. Improved competencies by organizing Risk management, interest subsidies & program
Awareness/training/certification, increasing risk credit subrogation that were originally under
mitigation by providing industry expertise data/ the supervision of the Business Program
information in accordance with the managed Division (SBP);
industry specialization. vi) The credit operations function includes
b. Improved HC risk management capabilities through managing BNI’s Fleksi Pensiun consumer
a focused Risk Culture development program in credit claims and consumer credit operational
accordance with AKHLAK. activities that were originally under the
c. Enhanced KCLN’s HC capabilities to carry out risk supervision of the Consumer Product Division
functions and implement the Credit Risk Committee (CRP);
to support the development of trade and investment vii) The credit operations function includes
centers. managing syndicated segment credit
6. Credit Operations operational activities that were originally
The Credit Operations NWOW is aimed at strengthening under the supervision of the Syndication &
the loan operations function as the third pillar, and Structured Finance (SSF) Division,
upholding independence in securing BNI loan viii) Under solid line supervision by the COP
disbursement by centralizing all segments credit Division, while still coordinating in a dotted
operations activities under the supervision of the line with the original unit.
Credit Operations Division Head Office. The COP 7. Strengthening Remedial & Recovery
transformation included the following: a. Optimizing the Remedial & Recovery process to
accelerate credit quality improvement.
b. Non-conventional implementation of Remedial &
Recovery.
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For consumer credit and business credit programs, risk h. Implementing credit scorecard calibration for KUR
management continues to comprehensively and prudently products periodically, including adjustments to
carry out and improve the following: changes in the Coordinating Ministerial Decree
1. Increasing selective business expansion through: provisions.
a. BNI Griya’s expansion focus is on the low risk i. Selectively reviewing Collection Agent policies in
segment, and includes: the Business Program process.
• BNI Griya financing for purchasing new houses 3. Digitalizing the Business Program delivery process.
from cooperative developers, especially top 4. Optimizing the handling of the Loan at Risk (LaR)
highly selected developers, highly selected portfolio by forming a special team in the Business
developers, selected developers and local Program.
selected developers. 5. Increasing HR capabilities through end to end credit
• BNI Griya financing for the Fixed Income process training.
Selected Institution segment (CASN / ASN,
BUMN/BHMN/BUMD, Higher Institutions/ In the event there is a non-performing loan portfolio in
Government Agencies/Ministries, Regulators, the Corporate Banking, Enterprise Banking, Commercial
State/Private Educational Institutions, State/ Banking and Retail Banking segments, BNI will take
Private Hospitals, etc.). measures to save the loan through collection, remedial
• BNI Griya financing for BNI’s payroll customer (restructuring) and/or recovery activities.
segment, emerald customers, and existing BNI
Griya/Business Banking debtors with good Also, to avoid Corruption, Collusion and Nepotism (KKN)
performance. practices including gratification in the loan granting process,
b. The focus for expanding BNI’s Fleksi Aktif Payroll is BNI strengthened the Integrity Pact by requiring debtors
on selected institutions based on the determined or prospective debtors to sign the Integrity Pact before
institutional classification or industry sector. signing the loan agreement (PK).
c. Increasing the BNI Fleksi Pensiun business in
collaboration with third parties. For loan risk management, BNI continues to make
d. Increasing the Credit Card business by utilizing improvements by:
data on fund customer leads, payroll and mobile 1. Preparing electronic Company Guidelines (e-PP) as
banking users. guidelines for granting loans.
e. The focus for expanding the Business Program is on 2. Monitoring the maximum loan limit or LLL and House
low risk segments, already on the target market list Limit for large debtors.
(including Value Chain debtors, Xpora debtors) as 3. Applying PSAK 71 in the context of loan risk reserves
well as supporting Government programs though or ECL.
distribution of People’s Business Loans (KUR) and
other Business Programs. Loan Monitoring
2. Improving the risk culture through end-to-end BNI monitors the industries’ lending and debtor conditions,
transformation of the loan process and restructuring as well as conducts intensive loan collections to create
non-performing loans through: quality asset growth. This monitoring involves looking at
a. Simplification of the BNI Griya & BNI Fleksi business conditions both indirectly (online) and in person,
Loan Process (Regular and Instant Approval) reviewing debtor loan eligibility, and monitoring debtor
and determination of Risk Acceptance Criteria payment obligations. In principle, the loan monitoring
(RAC) based on developer ratings, institutional process is based on an assessment of the 3 (three) pillars
classification or industry sector. in OJK regulations on the quality of productive assets.
b. Credit Card applications using an e-form with digital
& scoring verification (Electronic Signature and Efforts made in the Loan Quality monitoring process in the
Liveness/Face Recognition). business banking segment includes:
c. Utilizing the AKKI surrogate income policy as an 1. Initiating the development of the Single Integrated
approach in determining the income of credit card Monitoring Tool (SIMON) as a monitoring tool.
applicants. 2. Optimizing the use of monitoring tools as an early
d. Monitoring bound collateral through the centralized warning system for detecting potentially problematic
Collateral Alert Decision System (CADS) application. debtors and monitoring their action plans.
e. Implementing Financial Risk Acceptance Criteria 3. Refining the portfolio management analysis through
to be used as guidance in providing Business intensive monitoring of the adequacy and availability
Programs. of funds in debtor accounts to fulfill their obligations.
f. Strengthening the Credit Discipline Program (CDP) 4. Optimizing the LaR portfolio management by carrying
in the Business Program (pipeline management, out 4M (mapping, reducing, avoiding and controlling).
verification and monitoring).
g. Reviewing the Cycle Payment Date policy to improve
the quality of the Business Program.
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Loan monitoring in the Consumer and Business Program The settlement strategy applied to debtors who are deemed
segments is also carried out by: to have no prospects, includes:
1. Intensive monitoring of the availability of debtor funds 1. Selling collateral through auction and non-auction.
to pay their obligations to the Bank. 2. Settling debt through strategic investors.
2. Monitoring new accounts based on segmentation (High, 3. Taking egal action through litigation, bankruptcy/PKPU,
Medium, and Low Risk). civil lawsuits and collection against debt guarantors
3. Billing segmentation based on credit card behavior (personal guarantees and company guarantees).
score, namely billing priority segmentation based
on historical analysis of credit card transactions and Apart from the efforts mentioned above, alternative
payment of debtors’ receivables. processes for saving or resolving loans are also carried
4. Prioritizing billing based on warning list institutional out through program initiatives and non-conventional
segmentation for BNI Fleksi products. methods, including:
5. Increasing collection productivity through the Mobile 1. Accelerating the resolution of problematic assets
Collection application for credit card products. through an auction program by increasing coordination
6. Improving the credit monitoring system by and cooperation with related parties (DJKN/KPKNL
strengthening voice capabilities. and ATR/BPN).
7. Special monitoring for large debtors (maximum loan 2. Accelerating the resolution of problematic assets
of more than IDR1 billion), and monitoring the Pareto through a governed scheme (portfolio, bulk, asset swap
segmentation for potential arrears (High, Medium and or other programs).
Low Risk). 3. Cooperating with third parties (Lawyers, Collection
8. BNI Griya and BNI Fleksi credit monitoring strategy: Agents, JPN, Securities, etc.)
a. Submitting loan quality improvements to central/
branches. As mentioned above, handling non-performing loans
b. Adjusting the debtor’s due date based on payment for Consumer and Business Program loans is carried
behavior. out through 2 (two) strategies, namely loan rescue and
c. Cooperating with related developer on buyback settlement. The loan rescue and settlement strategy
guarantee. includes:
d. Submitting notification to debtors and collateral 1. Asset Quality Improvement and Recovery Acceleration
owners to immediately extend collateral documents (PPKA) Program for debtors who experience difficulties
that will fall due through a Notary/PPAT appointed in fulfilling their obligations but still have prospects and
by the Bank. are considered feasible through restructuring and/or
9. Instigating a blling strategy using SMS notifications, special discounts.
WhatsApp, letters, visits and telephone. 2. Optimizing the buyback guarantee (BNI Griya) and
Collateral Auction website.
Credit Rescue and Settlement 3. Optimizing Legal Action Collection (simple claims,
To strengthen financial fundamentals and maintain loan cessie, summons, bankruptcy, and JP N).
quality, BNI implemented efforts to optimally handle non- 4. Accelerating auctions based on potential collateral
performing loans, coupled with a prudent increase in the classification (quadran approach) and optimizing the
coverage ratio. In this case, including loans that have been Collateral Auction website, as well as collaboratiing
written off, efforts are also being made to optimally resolve with third parties (Property Agent).
them to minimize the Bank’s losses. 5. Settling loans through the transfer of NPL receivables
and write-offs (cessie-transfer or sale of bank-owned
Efforts to deal with non-performing loans in the corporate, loans receivables against debtors to other parties or
medium and small segments are generally pursued through investors according to the criteria set by the Bank).
2 (two) strategies, namely credit rescue and settlement. 6. Optimizing recovery through collaboration with third
parties (collection agencies).
The rescue strategy includes:
1. Restructuring (restructuring, reconditioning, Loan Risk Management Performance in 2023
rescheduling) for debtors who are experiencing Through the implementation and strengthening of the
difficulties in fulfilling their obligations but still have LAR Management Optimization Team, BNI’s loan quality
prospects and are considered cooperative; has been maintained and has improved. At the end of
2. Proactively conducting monitoring and Joint Effort December 2023, BNI’s Gross NPL ratio improved compared
Loan at Risk (LaR). to the end of 2022, from 2.8% to 2.1%, an improvement of
3. Increasing collection of principal & interest installments. 0.7%.The same can also be seen in the LaR ratio (including
4. Selling collateral with downsizing facilities to suit the restructuring with the COVID-19 stimulus) that improved
debtor’s capabilities. 3.1% (YoY) from 16.0% in December 2022 to 12.90% in
December 2023. With the improvement in loan quality,
BNI also saw a decrease in provisions for losses of 20.5 %.
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Practices Governance Responsibility Commitment Statements
Strategy and Work Plans for the Next Year c. Intensive monitoring of debtor conditions,
In 2024 BNI will continue to optimize the 2023 program accompanied by comprehensive evaluation and
and has instigated strategic policies in the Corporate handling of debtors to determine more sustainable
Banking, Enterprise Banking, Commercial Banking and debtor loan levels, and handling problem debtors
Retail Productive Banking segments by planning several more progressively, including restructuring,
initiatives as follows: strategic investors, phase out or downsizing through
collateral sales (joint efforts of business units, risk
1. Developing Pipeline Management and remedial recovery).
a. Continue to increase business expansion in Diamond
Clients, Wave Clients, KLN debtors, RegionalTarget 4. Improving Human Capital Capabilities and Competencies
Markets, value chains, supply chain financing and a. Improving competencies by organizing Risk
Cross Selling by adding Environmental, Social Awareness/training/certification, increasing risk
and Corporate Governance (ESG) factors, and mitigation by providing industry expertise data/
conducting reviews on Industry Risk Appetite, Risk information in accordance with the managed
Acceptance Criteria, Risk Appetite Statement for industry specialization.
Credit Risk and Loan Exposure Limit. b. Enhancement of Corporate Credit Risk Manager
b. Strengthening better risk management by (CRC) capabilities in line with the managed industry
developing technology infrastructure and digital specialization through providing soft skills and hard
innovation through data driven customer experience skills.
analytics and expanding partnerships. c. Increasing HC capabilities in risk management
c. Further improving transaction solutions by through a focused and structured Risk Culture
optimizing Xpora to increase global market development program in accordance with AKHLAK.
expansion as well as sustainable FBI and CASA. d. Fine tuning the New Way of Working (NWOW),
d. Developing solutions that support the value chain, implementing Credit Risk Review for KLN as well as
including reviews of Supply Chain Financing/Open enhancing the capabilities of KLN risk functions HC
Account Financing and Bank Guarantee products to support the develop in the trade and investment
(including the Bank Guarantee products scoring centers.
application) so as to support transaction solutions to
increase debit balances and fee based income (FBI). 5. Strengthening Remedial & Recovery
Optimizing loan rescue and settlement using
2. Developing the underwriting process conventional strategies such as restructuring NPL
a. Integrating all end-to-end loan process applications debtors who still have prospects and fulfill the 3 (three)
through LMS development in all segments that have pillars, massive auctions, optimizing cooperation with
an impact on increasing efficiency, productivity and third parties and non-conventional strategies such as
asset quality. bulk-selling collateral, and the non-performing loan
b. Creating a self-assessment checklist for ESG collateral sales acceleration program.
compliance criteria based on the Industry sector.
c. Adjusting to customer centric based segmentation, At the same time, plans and strategies for improving loan
and fine tuning credit scoring and Risk Acceptance quality in the consumer and Business Program segments
Criteria based on industry sector. in 2024 will include:
d. Implementing credit scoring for loans up to IDR10 1. Increasing selective business expansion through:
Billion in the Retail Productive Segment. a. Optimizing BNI Fleksi Aktif in the fixed income
e. Enhancing credit risk analytics through sensitivity selected institutions and Diamond Client companies
analysis and stress testing in credit portfolios, based on pre-determined institutional classification.
against changes in economic conditions, reviewing b. Optimizing BNI Fleksi Aktif through Taspen,
credit risk methodology, risk-based pricing, and ASABRI and selected BUMN/BUMD Pension Fund
enhancing impairment models. participants in accordance with the established RAC
f. Strengthening and optimizing the underwriting Risk Acceptance Criteria.
tools that are tailored to policies and accommodate c. Calibrating Credit Card eForm scoring, to optimalize
business needs. decision automation results.
d. Optimizing acquisitions through Staff / Direct Sales
3. Strengthening the Monitoring Process channels, with relaxation without fixed lines for
a. Optimizing the use and development of SIMON as selected segments (have good SLIK history, have
a monitoring tool. payroll / customers, permanent employees of
b. Using monitoring tools such as EWS Moody’s, selected companies).
Bloomberg, Checklist Monitoring as initial screening
for actions against debtors.
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e. Expanding BNI Fleksi by accelerating the loan process using a pre-approval scheme, simplifying the loan process,
and automating BNI Fleksi approval in mobile banking channels for selected segments based on predetermined
RAC criteria.
f. Expansion through collaboration with third parties based on financial technology, digital partners, and utilization
of data leads.
g. Optimizing BNI Griya’s expansion by purchasing new homes from cooperative developers, especially top highly
selected developers, highly selected developers, selected developers and local selected developers.
h. Optimizing BNI Griya for the Fixed Income Selected Institution segment, BNI payroll customers, emerald customers,
and existing BNI Griya/Business Banking debtors with good performances.
i. Adjusting BNI Griya provisions for financing to prospective Non-Fixed Income debtors in the secondary market
segment (purchase of new property from a non-cooperative developer, purchase of a second property, take over,
top up, renovation/development, refinancing, and BNI Griya Multiguna) taking into account the precautionary
principle.
j. Strengthening risk management’s role in business program expansion to:
• BNI’s Entrepreneurial Loans for MSMEs (BWU Pandu) product for graduating KUR facility debtors
• BNI Entrepreneurial (BWU) Linkage Channeling product for the fintech market
• Core Plasma Investment Credit Facility for financing palm oil plantations
2. Improving risk culture through end-to-end transformation of the loan process by simplifying the loan process and/
or adjusting BNI Griya’s Debt Service Ratio (DSR) specifically for selected segments.
3. Optimizing efforts to improve loan quality and recovery through:
a. Optimizing recovery in collaboration with third parties (billing agencies) for subsidized BNI Griya, KUR, BWU,
BNI Fleksi, and Credit Cards.
b. Implementation of write-offs and write-offs for the Business Funding Program for Micro and Small Businesses
(PUMK) in accordance with policies that will be regulated by the Ministry of SOE.
4. Strengthening digital capability through innovation:
a. Development of a Mobile Collection system to improve billing for consumer products and Business Programs
(BNI Griya, BNI Fleksi, KUR, and BWU)
b. Developing a skip tracer system for Credit Cards, Griya, Fleksi, KUR, and BWU.
c. Developing an auction website for monitoring the auction process (from auction preparation to auction results).
d. Developing pre-screening automation and other capability tools related to underwriting to support business
processes for Business Program products..
5. Increasing HR capabilities through end to end credit process training.
6. Maximizing the strategies implemented the previous year as follows:
a. Optimizing the use of Interactive WA.
b. Optimizing Legal Action Collection (simple lawsuits, attorney summons, cessie, bankruptcy, and attorney).
c. Accelerating auctions based on potential collateral classification.
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Capital Structure and
Management Policy
for Capital Structure and Capital
Risk Management Practices
DETAILS OF BANK CAPITAL STRUCTURE
Increase (Decrease) Increase (Decrease)
Capital Component-Bank 2022-2023 2021-2022
2023 2022 2021
Only Percentage Percentage
Nominal Nominal
(%) (%)
Core Capital (IDR billion) 130,938 118,936 112,685 12,002 10.1 6,251 5.6
Supplementary Capital (IDR
11,079 12,400 12,931 (1,321) (10.7) (531) (4.1)
billion)
Total Core Capital and
Supplementary Capital (IDR 142,016 131,336 125,616 10,680 8.1 5,720 4.6
billion)
Risk Weighted Assets (RWA) for
609,161 586,142 547,220 23,019 3.9 38,922 7.1
Credit Risk (IDR billion)
Risk Weighted Assets (RWA) for
34,967 92,999 87,259 (58,032) (62.4) 5,740 6.6
Operational Risk (IDR billion)
Risk Weighted Assets (RWA) for
2,812 2,244 1,722 568 25.3 522 30.3
Market Risk (IDR billion)
Core Capital Ratio (%) 20,2 17,5 17,7 2,7 (0,2)
Capital Adequacy Ratio for
Credit Risk, Operational Risk 21,9 19,3 19,7 2,6 (0,4)
and Market Risk (%)
BANK CAPITAL STRUCTURE MANAGEMENT POLICY
BNI manages the Bank’s capital to maintain a strong capital position to support business growth and maintain investors,
depositors, customers and market confidence, and to ensure adequate capital to meet regulatory requirements, and
to cover risks managed by the Bank. For capital management, the Bank considers factors such as: optimizing capital
return to shareholders, maintaining a balance between higher profits and gearing ratios, and the security provided by
a healthy capital position. This is carried out so that BNI has a strong commitment to maintaining its capital structure
composition in accordance with the applicable provisions, and does not violate the minimum limit provisions applied
by the Financial Services Authority (OJK) as the banking regulator.
BASIS FOR POLICY DETERMINATION
1. Core Capital
Core capital represents the Bank’s capital and consists of main core capital and additional core capital in accordance
with the Financial Services Authority (POJK) Regulations concerning “Minimum Capital Requirements for Commercial
Banks”. BNI’s core capital increased by 10.1% from IDR118.9 trillion in 2022 to IDR130.9 trillion in 2023. This increase
was due to the current year’s profit in 2023, and the decline in the position of mark to market losses from the fair
value of financial assets measured at fair value in other comprehensive income compared to 2022.
2. Supplementary Capital (maximum 100% of core capital)
Supplementary capital (referring to the Bank’s capital) consists of general reserves for productive assets and capital
instruments that meet Tier 2 requirements. BNI’s Supplementary Capital decreased from IDR12.4 trillion in 2022 to
IDR11.1 trillion in 2023, or 10.7%. This decline was due the amortization of subordination bond values that can be
calculated as a component of complementary capital.
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CAPITAL RELATED RISK MANAGEMENT PRACTICES
The Bank’s Health Level Assessment is reported to the regulator (OJK) every 6 months (semi-annually) in June and
December. BNI’s BHL assessment for the period December 31, 2023 was ranked “Healthy” (stable compared to the
previous year), meaning that:
1. BNI’s condition is generally healthy, and is considered capable of facing significant negative effects from changes in
business conditions and other external factors.
2. The assessment factor ratings (Risk Profile, Governance, Profitability and Capital) are generally good. If there are
weaknesses, then in general these weaknesses are less significant..
BNI’s risk profile, as one of the BHL assessment factors for the period December 31, 2023, was ranked 2 (Low to Moderate).
As a result of BNI’s risk profile being in the Low to Moderate level, and based on calculations using the Internal Capital
Adequacy Assessment Process (ICAAP), the minimum CAR based on the risk profile was 9.8%. If added to the buffer
capital, the Conservation Buffer 2.5%, Countercyclical Buffer 0.0% and Capital Surcharge 1.5%, then BNI’s Minimum
Capital Requirement (KPMM) ratio limit was 13.8%.
MATERIAL COMMITMENTS FOR CAPITAL GOODS INVESTMENTS
No. Project Name Vendor
PT Kanta Karya Utama
1 Construction of Pantai Indah Kapuk 2 PT Kora Antar Buana
PT Virama Karya
PT Multipholar Technology Tbk
2 Enterprise License
PT Metrocom Global Solusi
3 Purchase of land in Pantai Indah Kapuk 2 PT Kukuh Mandiri Lestari
4 Project Maverick & Enabler PT Accenture
5 Automated Furniture PT Inokom Lintas Asia
PT Tata Metrika Nusantara
6 Grha BNI Renovation PT Meltech Consultindo Nusa
PT Cipta Mitra Dinamika
PT Mitra Mandiri Informatika
PT Mastersystem Infotama
7 DC & DRC Improvement
PT Multipolar Technology Tbk
PT Swadharma Duta Data
PT Multipolar Technology Tbk
8 Network & Telecommunications
PT Mastersystem Infotama
PT Prosys Bangun Persada
PT Korra Antarbuana
9 Jl. Mataram Lounge
PT Arandco Rekacipta Ragamselaras
PT Purwa Jaya Mandiri
10 KLN Trade System Enhancement PT Finastra International Financial Systems
Commitment Purpose
The material commitment for capital goods investments includes the commitment to purchase capital goods as planned
in BNI’s Bank Business Plan (RBB).
Source of Funds
BNI’s funding sources utilise the remaining investment budget, total depreciation expense and a share or percentage of
net profit from the previous financial year as funding sources for capital expenditure. from the previous financial year as
a source of funding for capital expenditure.
Currency Used
All transactions carried out in the context of binding investment materials for capital goods are denominated in rupiah.
Foreign Currency Risk
BNI does not protect against foreign currency protection risks as all investment capital goods commitments are carried
out in rupiah.
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CAPITAL GOODS INVESTMENTS REALIZED IN THE LAST FISCAL YEAR
BNI issued funds for Capital Goods Expenditure investment to purchase a number of fixed assets or to increase the value
of fixed assets that are expected to provide value for future benefits.
Types of Capital Goods Investment
The capital goods investments in 2023 totalled IDR2.471 billion, and consisted of buildings and land, automation
equipment, non-automation equipment and vehicles, amounting to IDR1.027 billion, IDR1.236 billion, IDR207 billion and
IDR1 billion respectively.
Capital Goods Investment Purpose
BNI purchases capital goods to support the Company’s overall operational activities.
Capital Goods Investment Value
The following table explains the capital goods investment value.
Increase (Decrease) Increase (Decrease)
Types of Capital 2023 2022 2021 2022-2023 2021-2022
Goods Investment (IDR- billion) (IDR- billion) (IDR- billion) Nominal Percentage Nominal Percentage
(IDR- billion) (%) (IDR- billion) (%)
Building and Land 1,027 404 340 623 154.2 64 18.8
Automation Equipment 1,236 899 673 337 37.5 226 33.6
Non Automation
207 146 185 61 41.7 (40) (21.1)
Equipment
Vehicles 1 3 - (2) (66.7) 3 100
Total 2,471 1,452 1,198 1,019 70.2 253 21.2
BNI’s capital goods investments in 2023 reached IDR2.471 trillion. This was based on investment needs in 2023 to support
the strategic policies to improve BNI’s digital capabilities, as well as in to develop business operations and services.
PROPERTY FOR INVESTMENT
BNI did not use property assets for investment purposes during period ending December 31, 2023.
INFORMATION AND MATERIAL FACTS THAT OCCURED AFTER
THE DATE OF THE ACCOUNTANT’S REPORT
There is no information and material facts to report that occured after the date of the accountant’s report on January 25,
2024 until the date of this annual report.
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Business Target
Achievements in 2023
Assumptions Used in Formulating the 2023 Target
For the 2023 target preparation process, economic growth (US), but it was supported by the good fundamentals for
was predicted to slow down compared to 2022. At that time, the Indonesian economy, which where expected to be
the narrative for a global recession was high, however BNI a factor in attracting capital inflow in the second half of
believed that the Indonesian economy remained solid. 2023. In 2023, the exchange rate was estimated to be in a
Economic growth in 2023 was estimated to be in a range range of IDR14,800 – 15,100 per US dollar. As of December
of 4.8 – 5.2%, supported by household consumption and 31, 2023, the rupiah reached IDR15,250 per US dollar, due
government spending. Along the way, as well as these to external pressure including the uncertainty regarding
two components, investments also became a contributor interest rates in the US, and the additional political turmoil
to GDP, where economic growth in 2023 was estimated in the Middle East.
to close at 5%.
The projected BI7DRRR interest rate (later changed to BI
For prices, the high inflation in 2022 (5.5%) as a result rate) in 2023 was 5.50 – 5.75%. This was based on several
of rising fuel and food prices in Semester II - 2022 was simultaneous matters including inflation and global interest
expected to enter a normalization phase in June - July 2023 rates - especially in the US, which were still relatively high. In
and close in a range of 3.0 - 3.8% by the end of 2023. In 2023, terms of direction, this projection was realized, when interest
as expected, inflation did enter a normalization phase, but rates rose to 6%, or one percent above the original estimate.
it occurred one month earlier in May 2023, supported by
price stability in core groups of goods and services as well Taking into account moderate economic growth in 2023,
as in volatile groups. At the end of 2023, inflation closed BNI estimated the banking industry’s loan expansion would
in line with projections at 2.6%, with low core inflation of be between 8 - 10%, supported by TPF growth of 6.8 - 9%.
1.8% (lower than the average for the previous five years, In reality, the loan growth occurred as expected, closing at
except during the pandemic period when it reached 3%). 10.3% FY23, at the upper limit of BNI’s projections. But on
the other side, TPF saw lower growth than the average for
The exchange rate projection for 2023 was based on the last five years (except during the pandemic period), and
expectations of easing uncertainty concerning rising interest reached 3.8% FY23. Even though loan growth was aboveTPF,
rates in other countries, especially in the United States the loan-to-deposit ratio (LDR) remained healthy, at 84% FY23.
Macroeconomic Variables Projections and Realization in 2023
Indicator 2023 Projections 2023 Realization
Economic Growth (%) 4.8 - 5.2 5.0*)
Inflation Rate (%) 3.0 - 3.8 2.6
Rupiah Exchange Rate (IDR/USD) 14,800 - 15,100 15,250
BI-7 Days Repo Rate (%) 5.50 - 5.75 6.00
Loan Growth (%) 8.0 - 10.0 10.3
Third Party Funds Growth (%) 6.8 - 9.0 3.8
*) Preliminary estimated figures Source: BPS, BI, BNI Office of Chief Economist
Business Target Achievements in 2023
Business Target Achievements in 2023
2023 Realization 2023 Target 2023 Target Achievement
Description
(IDR-billion) (IDR-billion) (%)
Loans disbursed 695,085 715,558 97,1
Deposits From Customers 810,730 818,276 99,1
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Business Target Achievements in 2023
2023 Realization 2023 Target 2023 Target Achievement
Description
(IDR-billion) (IDR-billion) (%)
Current Accounts 345,496 310,517 111,3
Savings 231,981 286,552 81,0
Deposits 233,253 221,207 105,4
The 2023 targets refer to the 2023 Bank Business Plan (RBB) document
In the midst of various external challenges in 2023, especially related to increasing geopolitical risks, high inflation and
global interest rates, especially in the United States, and the economic slowdown in China, BNI is taking strategic steps
to maintain solid performance and achieve the targets set.
Credit at the end of 2023 reached IDR695 trillion or grew 7.6% from 2022, driven by expansion in the low-risk segment,
namely blue chip corporations, both private and state-owned, consumer credit and subsidiary companies. When compared
to the 2023 target, credit distribution has relatively reached the target with an achievement of 97%. To support this credit
expansion, Third Party Funds (DPK) in 2023 were recorded to grow 5.4%, to IDR810.73 trillion, which also reached the
target set by the company.
Profitability Target Achievements in 2023
2023 Target Achievement
Description 2023 Realization 2023 Target
(%)
Net Profit (IDR billion) 20,909 20,686 101.1
Return on Asset (ROA) (%) 2.6 2.6 101.7
Return on Equity (ROE) (%) 16.8 16.9 99.4
Return on Equity (ROE) - Equity Based (%) 15.2 15.2 99.5
Net Interest Margin (NIM) (%) 4.6 4.6 98.5
Operating Expenses to Operating Income
68.4 69.6 98.3
(BOPO) (%)
Cost to Income Ratio (CIR) (%) 42.9 42.3 101.4
With the success in achieving the business expansion targets as shown above, BNI’s profitability recorded a satisfactory
performance. Net profit, Return on Assets (ROA), both exceeded the predetermined targets. BNI’s net profit in the 2023
financial year was recorded at IDR20.9 trillion, or grew 14.2% YoY. This profit achievement was 101% of the target and in
line with market expectations (consensus).
Capital Structure and Other Important Financial Ratio Targets Achievement
2023 Realization 2023 Target 2023 Target Achievement
Description
(%) (%) (%)
Minimum Capital Adequacy Ratio (KPMM) 22 20.7 105.9
Gross Non Performing Loan (NPL) 2.1 2.3 93,4%
BNI’s capital management strategy is reflected in the capital structure target achievement, namely the Minimum Capital
Adequacy Requirement (KPMM) in 2023 with achievements above the predetermined targets. Achieving the Minimum
Capital Adequacy Requirement (KPMM) target was due to an increase in BNI’s performance during 2032. BNI’s success
can also be seen in the management of the quality of productive assets. Gross Non-Performing Loans (NPL) was reduced
to below the predetermined target. This demonstrates BNI’s strong commitment to continuing to maintain the quality
of its assets.
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Human Capital Management Target Achievements
2023 Target Achievement
Description 2023 Realization 2023 Target
(%)
Number of Employees (people) 27,570 27,570 100
Education and Training Costs (IDR-billion) 346.2 400.0 86.6
BNI realizes that Human Resources is an important capital factor for company sustainability. HR includes employee skills,
knowledge and creativity which can ultimately increase the company’s productivity and competitiveness. The number
of BNI employees in 2023 will be managed at the level of 27,570 people. Throughout 2023, the company will invest in
employees as reflected in education and training costs which reached IDR346.2 billion, an increase of 30% compared to
the previous year. Education and training costs are an important investment for the company in the future.
Business
Continuity Information
Matters that potentially had a significant effect on 1. Solid and positive digital transactions growth
the Bank’s business continuity in 2023 2. Acceleration of loan disbursements
3. Achieving quality asset and sustainable finance
Global conditions significantly changed over the last one to
two months, especially due to increasing geopolitical risks, Management Assessment of Matters with a
high bond yields in the United States, and the economic Potentially Significant Influence on the Bank’s
slowdown in China. Business Continuity
One impact on the domestic economy was the volatility of Overall, BNI carries out scenario analysis covering 2 (two)
the rupiah exchange rate over the current year. However, the levels of crisis, namely liquidity and solvency. Liquidity
domestic economy and financial system stability remains crisis to see the impact of stress conditions on BNI’s liquidity
relatively well maintained, including the performance of conditions as shown by liquidity indicators, namely MSR,
the rupiah where the fluctuations were not as deep as in LCR and NSFR. While, the solvency crisis is to see the impact
other developing countries. of stress conditions on asset quality (NPL Gross and NPL
Net), profitability (ROA, ROE and BOPO) and capital (KPMM
Related to these conditions, BNI undertook strategic steps to and KPMM CET 1) of BNI. Each crisis condition includes
maintain a solid performance.The transformation program scenarios of idiosyncratic crisis conditions, market-wide
carried out in a disciplined manner, and the selective shock, and a combination of both.
and measurable growth strategy taken have guided the 1. Liquidity Stress Test Scenario
company to deliver optimal income for shareholders, and The liquidity stress scenario is divided into 3 (three)
to carry out the intermediation function well. The strategic scenarios, namely idiosyncratic, market wide, and
steps taken included: a combination, which are prepared based on Bank
Indonesia’s granular stress test scenarios, and the LCR
calculation scenario which is adjusted to BNI’s internal
conditions.
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2. Solvency Stress Test Scenario a. Idiosyncratic Scenario
The solvency aspect stress test is designed to see the Liquidity stress is triggered by a decrease in BNI’s
impact of changes in internal factors (idiosyncratic), as trust or reputation that can be caused by evevnts such
well as external factors (market wide) or together, both as a decrease in BNI’s rating, IT failure, the occurrence
directly and indirectly, on the Bank’s solvency. These of significant internal fraud or other risk events that
scenarios are interrelated with stress tests on indicators have an effect on decreasing public trust in BNI that
of asset quality, profitability and capital. can trigger large withdrawals by customers of TPF.
b. Market-wide scenario
A number of internal and external (market wide) factors Liquidity stress is triggered by a decrease in liquidity
for stressful conditions are seen to be independent or in the interbank market due to worsening overall
interrelated, influencing several bank performance domestic and/or global economic conditions,
variables. These changes are then transmitted into the resulting in significant deposit withdrawals and
Balance Sheet and Profit/Loss items so that they have difficulty in obtaining funding in the market, either
an impact on the Bank’s financial ratios.The relationship through the liquidation of assets owned or through
between each solvency indicator in each stress scenario interbank loans.
will ultimately have an impact on the Minimum Capital c. Combination Scenario
Adequacy Ratio (KPMM). Liquidity stress is triggered by stress resulting from a
combination of idiosyncratic and market-wide events.
The stress test scenario is carried out for 3 scenarios, 2. Solvency Stress Test Assumptions
the first scenario is the shock condition triggered by The solvency stress test assumptions for each scenario
internal factors (idiosyncratic) such as a decline in loan are as follows:
quality, especially in a number of quality Debtors who a. Idiosyncratic Scenario
have shifted from current to default, then in the second Solvency stress is triggered by an inaccurate loan
scenario the trigger factors taken into account come growth strategy, and accompanied by an inaccurate
from external factors.The third scenario is a combination loan monitoring process, causing several debtors
of internal (idiosyncratic) trigger factors together with to default using MEV in the baseline scenario. The
external (market wide). default debtors are determined based on the results
of an assessment of the impact of macroeconomic
Some of these disturbances are transmitted into the conditions on BNI’s loan portfolio for the Q3 2023
Bank’s financial performance in the form of changes period. It was projected that there was a shadow NPL
in a number of variables. Changes in the quality of the (collection of 1 restructured non-Covid and Pre NPL)
loan portfolio, Net Open Position, and market prices in of IDR26.7 trillion, and assumption that 29% (IDR7.79
the securities and bond portfolio will affect the value of trillion) of total shadow NPL will default.
Risk Weighted Assets (RWA). b. Market-wide scenario
Solvency stress is triggered by tight global financial
Changes in income, reserve value, unrealized gains/ conditions, market financial turmoil and economic
losses and other comprehensive income of the bank recession that will have an impact on bank solvency
will be transmitted to further influence Profit/loss for conditions in terms of loan risk and market risk,
the current period which has an impact on the Bank’s including:
capital. In the end, changes in Profit/Loss and RWA will • Decreasing GDP growth rate
affect the Bank’s minimum capital adequacy (KPMM). • Increasing inflation
• Increasing interest rates
Assumptions Used by Management in Conducting • Changing exchange rates
Assessment of Matters That Have a Potentially • Worsening commodity prices
Significant Effect on the Bank’s Business • Other macroeconomic worsening
Continuity • Market risk increasing due to high Government
bond yields
Several assumptions BNI considers when conducting a c. Combination Scenario
business continuity assessment include: Solvency stress is triggered by stress from
1. Liquidity Stress Test Assumptions idiosyncratic and market-wide conditions that
The liquidity stress test assumptions for each scenario influence simultaneously.
are as follows:
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Details of Matters
Arising in 2023
The following are details of the matters that arise throughout 2023, their impacts, and the handling efforts carried out
by BNI.
Trend of increasing interest rates
Background:
The increasing interest rates trend started in 2022, brought on by high global inflation due to rising commodity prices. Central banks in
many countries responded by instigating policies to increase benchmark interest rates. In Indonesia, the prediction was that the peak
inflation increase that occurred at the end of 2022 would subside in 2023. However, uncertainty concerning global interest rates, as well
as pressure on the rupiah due to external factors, meant that for Bank Indonesia to maintain exchange rate stability and inflation they
had to raise interest rates in 2023, in January and October 2023 to 6.00%. From a fiscal perspective, the Government held a conservative
expenditure realization viewpoint to stabilize prices and protect people’s purchasing power. These two prudent policies helped to maintain
Indonesia’s economic fundamentals but had an impact on tight liquidity in the banking sector, as illustrated by the M-2 money supply
growth indicator that was at its lowest level, especially in the last quarter of 2023. Tight liquidity, rising interest rates, and increasingly
intense competition in the industry all had an impact on increasing the cost of funds in national banking
Impact on BNI:
BNI’s Cost of Funds increased.
Fee Based Income is Not Yet Optimal
Background:
The Company’s Fee Based Income decreased year on year in 2023, with the decrease mainly due to a decrease in fees from securities, and
the migration of transfer transactions to BI Fast with its lower fees. The decrease in fees from securities was due to the increase in bond
yields in 2023, which caused a decline in the securities market price. In addition, the migration of transactions to BI Fast with its lower
fees resulted in a decrease in ATM and e-channel fees, but this decrease is estimated to only occur in 2023 considering that 90% of the
Company’s customer transfer transactions have switched to BI-Fast.
Impact on BNI:
Fee based income has decreased compared to 2022 (year on year)
Anticipatory Efforts Taken by BNI:
• Encouraged cross selling and customer transactions to increase the contribution of non-interest income (fee based income), including
products from subsidiaries.
• Offered ecosystem business and comprehensive financial solutions to institutional banking segment customers, as well as the
Wholesale & International Banking segment.
• Increased wealth business by developing attractive investment services and products.
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Business Prospects
for 2024
As we enter 2024, the global economy is expected to In terms of the domestic economy, GDP growth is projected
continue to slow. Based on IMF projections, global economic to remain solid at 5.0%.The impact of the global economic
growth will reach 2.9%, lower than the projected figures for slowdown certainly had an effect on exports and investment,
2023 and 2022 of 3.0% and 3.5%. At the same time, although however, the trend of private consumption (53% of the
global inflation has decreased, the figure is still higher national GDP pie) is estimated to increase along with the
than the average before the pandemic, so the prospect effect of election spending (spending is projected to reach
of benchmark interest rates in many countries is not 0.6% - 1.3% of GDP), and the realization of more aggressive
expected to reach the normal phase. The US central bank, fiscal spending. Solid economic growth is projected to also
The Federal Reserve, is projected to lower its benchmark influence banking loan growth. Loan growth is estimated to
interest rate (FFR) to 4.50-4.75% in 2024, with projected remain solid at 7.5-10% in 2024, supported by better liquidity
individual expenditure inflation (PCE inflation) at 2.4%. For conditions amidst an increase in the money supply due to
comparison, the average FFR interest rate in the five year the realization of the fiscal budget, election expenditure and
period before the pandemic (2015-2019) was 1.1%, and the the potential for a reduction in the MSR level.
PCE inflation rate was 1.6%. Normalization back to the 2%
inflation range is estimated to occur in 2026. In terms of exchange rates, Rupiah volatility is expected
to be lower in the second semester of 2024 with the trend
The implications of the global interest rate trend will have of FFR cuts and a decline in the dollar index. Foreign fund
an impact on the prospects for Bank Indonesia’s benchmark flows are expected to be higher in the second semester
interest rate, which was projected to fall to 5.5% from 6.0% of 2024 so at to partially cover the current account deficit
by the end of 2023. In the context of time, a decrease in Bank which is projected to reach -0.5% to -1.0% of GDP in 2024.
Indonesia’s benchmark interest rate is projected to occur
in the second semester, as inflationary pressure tends to
decline, followed by the potential for FFR cuts.
Macroeconomic Variable Projections
2022 2023 2024F 2025F
GDP Growth (% FY) 5.31 5.00(e) 4.80 – 5.20 4.90 – 5.40
Inflation (%FY) 5.51 2.61 3.00 – 4.00 2.50 – 3.50
BI-rate (%) 5.50 6.00 5.75 – 6.25 5.00 – 5.50
Exchange Rate (Annual average, IDR/USD) 14,851 15,231 15,200 – 16,200 14,500 – 15,300
Loan Growth (% FY) 11.4 10.30 6.50 – 10.00 7.50 – 11.00
TPF Growth (% FY) 9.0 3.80 7.50 – 10.00 8.50 – 11.00
Source: BNI Office of Chief Economist
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Performance Projections
for 2024
BNI PERFORMANCE PROJECTIONS AND STRATEGIC PLANS FOR 2024
After considering the business prospects and potential as well as macro and micro conditions as explained above, BNI
has prepared a Bank Business Plan (RBB) for 2024 with several important points as shown below.
Performance Indicator 2024 Projection
Quality balance sheet growth
Credit Growth 9% s.d 11%
TPF Growth 7% s.d 9%
Gross NPL below 2%
Profitability
Net Interest Margin (NIM) at least 4.5%
Return on Equity (ROE) - Equity Based 15% s.d 16%
Capital Structure
Minimum Capital Requirement Ratio (KPMM) above 20%
Dividends
Dividend Payment Projection in 2024 40% s.d 50%
Credit growth has historically had a strong correlation with range of 15% to 16%.This projected increase in profitability
GDP growth. For this reason, with Indonesia’s solid GDP is expected to be able to strengthen capital as reflected in
growth, we project loan demand will increase, especially in the KPMM ratio which is above 20%. This level gives BNI
the second semester of 2024, mainly driven by consumer the ability to meet the BNI group’s business expansion and
credit and working capital credit. From the internal side, we investment needs, as well as promising dividends without
also have aspirations to grow better. Apart from the corporate having a negative impact on capital adequacy.
and consumer segments, we see opportunities for better credit
growth from the small and medium segments. With this improved performance projection, the company
is optimistic that profits in 2024 will increase. This is in line
As enablers, we have strengthened credit processes, risk with BNI’s commitment to providing optimal value for all
management, and credit scoring models that will enable us stakeholders, especially shareholders
to grow healthily in the small and medium segments, with a
credit growth target in the range of 9-11%, which is in line with To achieve this projection, BNI is pursuing various strategic
projected credit growth in the industry. steps that will be taken in 2024, namely:
1. Increase business expansion through the top tier
To support the need for credit expansion, DPK, especially the by strengthening risk management.
growth of current accounts and savings or CASA, will strive 2. Improvement of the Digital Platform to optimize
to grow better from 2023 in the range of 7% to 9%. In terms transactional banking and cross selling which focuses
of asset quality, the NPL ratio continues to show impressive on increasing sustainable AUM, CASA and FBI.
improvement.The NPL ratio at the end of 2023 was at the level 3. Strengthening business networks through
of 2.1%, an improvement compared to 2022 which was 2.8%. optimizing outlets.
4. Develop international business networks to
In line with BNI’s selective and prudent credit growth support global market penetration.
over the last 3 years, the NPL ratio improvement trend is 5. Strengthen Human Capital and IT to increase
projected to continue to improve below 2%. productivity.
6. Optimization of the BNI Group in strengthening the
This quality balance sheet growth projection is expected position of Subsidiary Companies.
to have a positive impact on BNI’s profitability, so that NIM
is projected to be above 4.5% and Equity Based ROE in the
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Marketing
Aspect
The relatively well-maintained stability of the national economy significantly to Indonesia’s economic growth and bridge
and domestic financial system amidst ever-increasing global Indonesian business to the global arena. BNI’s presence
economic turmoil shows Indonesia’s resilience and success abroad can also be seen as a door for investors, Diaspora
in anticipating existing challenges. Especially with digital and potential customers to learn more about Indonesia
disruption bringing massive social change, BNI must respond through BNI products and services. This idea is the basis
to these challenges and try to formulate various strategic of BNI’s corporate message and will be confirmed in 2023
innovations to become practical solutions for users of financial with the theme “Global Reach, Indonesian Pride” on the
services, especially banking today. 77th anniversary. This theme reaffirms BNI’s mission to
realize big goals, achieve global market share, and become
Marketing Strategy a source of pride for the Indonesian people.
In the digital era which continues to develop increasingly
rapidly, BNI has consistently been a leading bank that is On the marketing side, in order to maximize the results
agile in facing rapid changes and market needs as well as that will be obtained, marketing activities are focused on
increasingly tight business competition. BNI is committed the wider community through several digital platforms that
to always presenting the best products and services, which are available and used by BNI. One of them is the use of
not only strengthen its brand image and increase market BNI’s organic social media. As of December 31 2023, the
share, but also create added value for all stakeholders Twitter/X @BNI account has 1,246,998 followers, Instagram
anywhere and at any time. @bni46 with 1,463,529 followers, then BNI Facebook has
406,906 fans and TikTok @bni46 with current followers of
BNI always carry out the continuous improvements to 430,900. The engagement rate on BNI social media is one
banking services that are in line with the RACE values of the best in the banking business sector.
(Risk Culture, Agile, Collaboration, Execution Oriented).
To communicate these products and services, a corporately Marketing communications are also carried out through
integrated marketing communications strategy and paid social media placement activities or using online
company messages are needed with BNI’s products.These publishers, especially those that are always ranked in the
messages start from BNI’s commitment to becoming a state- top 1 - 5 in monthly visitors. This activity was carried out
owned bank with global capabilities, to BNI’s commitment with the aim of increasing the scope of the message to be
to becoming a digital-based bank. conveyed. In addition to using digital media, the media also
used for marketing communications are offline media and
As a national bank with competitive advantages in electronic media such as through national and international
international business, BNI has aspirations to contribute iconic events, videotrons, television and radio.
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Market Share
Increase (Decrease)
2022-2023
Account 2023 2022 2021 Nominal
Percentage
(IDR-
(%)
Million)
Based on Banking Industry Assets
Industry*) (IDR-billion) 11,428 10,488 9,824 940 9.0
BNI (IDR-billion) 1,087 1,030 965 57 5.5
Industry Market Share (%) 9.5 9.8 9.8 - -
Based on Banking Industry Outstanding
Loans
Industry*) (IDR-billion) 6,966 6,275 5,658 691 11.0
BNI (IDR-billion) 695 646 582 49 7.6
Industry Market Share (%) 10.0 10.3 10.3 - -
Based on Outstanding Third Party Funds
in the Banking Industry
Industry*) (IDR-billion) 8,216 7,647 7,245 569 7.4
BNI (IDR-billion) 811 769 729 42 5.5
Industry Market Share (%) 9.9 10.1 10.1 - -
Comparison of Capital Adequacy Ratio
(CAR) with the Commercial Bank Industry
Average
Industry*) (%) 27.9 25.2 25.3 2.7 -
BNI (%) 22.0 19.3 19.7 2.7 -
Comparison of Operating Expenses to
Operating Income (BOPO) Ratio with the
Commercial Bank Industry Average
Industry*) (%) 76.8 77.1 83.1 (0.3) -
BNI (%) 68.4 68.6 81.2 (0.2) -
Perbandingan Rasio Return On Asset
(ROA) dengan Rata-Rata Industri Bank
Umum
Industry*) (%) 2.7 2.5 1.9 0.2 -
BNI (%) 2.6 2.5 1.4 0.1 -
Perbandingan Rasio Pinjaman terhadap
Total Simpanan (LDR) dengan Rata-Rata
Industri Bank Umum
Industry*) (%) 84.8 82.1 78.2 2.7 -
BNI** (%) 85.8 84.2 79.7 1.6
*) Source: Indonesian Banking Statistics, Financial Services Authority
**) BNI consolidated as of December 2023
Market Share based on assets
Over the last few years, BNI has positioned itself as one of the leading banks in Indonesia in terms of assets. BNI assets
in 2023 will increase to IDR1,087 trillion, with a market share value based on assets to industry of 9.5%.
Market Share based on Third Party Funds (TPF)
In the 2022-2023 period, BNI was able to maintain its position as one of the largest banks in Indonesia in terms of collecting
TPF. With deposits reaching IDR811 trillion, BNI’s market share in terms of TPF was 9.9% in 2023.
Market Share based on Loans Disbursed
In line with the increase in TPF, BNI optimized its loans disbursed by paying attention to loan quality, as it reached IDR695
trillion. This achievement was equivalent to a market share of 10.0% in 2023.
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Comparison of BNI Stock Performance and LQ-45 Index (YTD) in 2023
16,5
3,6%
1-Jan 1-Feb 1-Mar 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sept 1-Oct 1-Nov 1-Dec
BBNI LQ-45
In the midst of various external challenges in 2023, regarding the strong fundamental performance of the
especially related to increasing geopolitical risks, high Company which increasingly provides a positive outlook
inflation and global interest rates, especially in the United for BNI’s future performance. This trust is reflected in the
States, as well as the economic slowdown in China, BNI good performance of BNI (BBNI) shares in 2023.
was able to maintain solid performance in 2023 so as to
provide optimal returns for its shareholders. Until the close of trading on the Indonesian stock exchange
on December 29 2023, BBNI closed at a price of IDR5,375
Consistency in implementing transformation oriented per share or an increase of 16.5% year to date (YTD), much
towards strengthening fundamentals has had a positive higher than the LQ-45 index which was recorded to have
impact as seen from improvements in the Cost of Funds only grown 3.6% YTD. This achievement means BBNI’s
compared to pre-pandemic levels, a shift in the portfolio Market Capitalization value has reached IDR200.5 trillion.
to blue chip customers, as well as a reduction in the risk
profile as reflected in improvements in the NPL and Credit This achievement was accompanied by the achievement
Cost ratios. This progress will ensure the Company can of several records for the Company; (1) The market
continue to record a sustainable increase in ROE (Return capitalization value (market cap) of IDR200.5 trillion is the
on Equity) in the future. largest ever recorded in the company’s history; (2) Market
cap continues to increase supported by high confidence
Meanwhile, within the conglomeration framework, the from investors, where throughout 2023 BNI recorded a net
Company’s focus in 2023 is to continue the transformation foreign purchase value of IDR 3.5 trillion or the equivalent
and improvement of subsidiaries’ businesses, as being of 1.75% of the total market cap. This ratio was the best
intensified at BNI Finance and Hibank. BNI Finance is on the Indonesian Stock Exchange in 2023; and (3) BBNI
refocusing its business to financing the consumer segment, ranked itself as the Top-7 issuer with the largest level of
so that the existence of BNI Finance will complement the trading liquidity (turnover) in 2023 with a total trading value
BNI Group’s product choices through providing Motor reaching IDR63 trillion.
Vehicle Credit (KKB). Meanwhile, Hibank is aimed at
becoming a digital bank that acts as a provider of digital- We believe that this good stock performance is a reflection
based integrated financial solutions, especially in the MSME of the quality of BNI’s performance during 2023, which is
segment, which will become a future growth engine for BNI. also equipped with the right strategy for the long term. In
the future, the company will continue to be committed to
Through these strategic steps and supported by increasingly achieving increasingly healthy and sustainable profitability
better financial performance, the Company has succeeded so as to provide optimal value for all stakeholders, especially
in maintaining the trust of shareholders and the public shareholders.
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Dividend
and Distribution Policy
Basic Dividend Distribution Policy 6. In the event that the AGMS approves the distribution of
Cash dividend payments by BNI are carried out with cash dividends, the Bank is obliged to pay cash dividends
reference to Article 21 paragraph (2) letter b, and Article to entitled shareholders no later than 30 (thirty) days after
26 of the Bank’s Articles of Association that stipulates that the AGMS resolution, and to ensure equal treatment
at the Annual GMS the Board of Directors are obliged to to all entitled Shareholders in accordance with the
submit proposals for the use of net profits if the Bank has procedures specified. by the Board of Directors based
positive profits. Referring to Article 70 and Article 71 of Law on prevailing provisions.
No. 40 of 2007 concerning Limited Liability Companies 7. Shareholders who are entitled to receive dividends are
regulates that all net profits after deducting the allowance required to comply with the tax provisions applicable
for reserves are distributed to shareholders as dividends, in Indonesia.
unless otherwise determined at the GMS. The use of net
profit, including determining the amount of allowance for Dividends Distributed in 2023 and Dividend
reserves, is decided by the GMS. Dividends may only be Distribution History
distributed if the Bank has a positive profit balance.
The BNI Annual GMS for Fiscal year 2022 held on March
In accordance with BNI’s share prospectus, BNI’s dividend 15, 2023 approved the use of Net Profit for Fiscal Year 2022
policy is set at a minimum of 25% of net profit per year, amounting to IDR18,312,053,106,091 as follows:
the amount of which will be determined at the GMS. The 1. Dividends of 40% or IDR7,324,821,242,436 of the
Company’s Dividend Policy regulates, among other things: Company’s Net Profit to be distributed as cash dividends
1. The Dividend distribution plan needs to be reviewed by to shareholders to be paid, with the following payment
the Board of Directors at least once a year. conditions:
2. Proposals for dividend distribution are submitted at the a. Dividends for the State’s share of 60% share
Board of Directors meeting. ownership, or IDR4,394,892,745,535 to be deposited
3. It is possible for the Bank to distribute dividends of at into the State General Treasury Account.
least 25% (twenty five percent) of the current year’s b. Fo r t h e 4 0 % p u b l i c s h a r e o w n e r s h i p ,
net profit, after taking into account, the Bank’s financial IDR2,929,928,496,893 will be given to shareholders
performance achievements, the Bank’s Minimum Capital based on their respective ownership portions.
Adequacy Requirement Ratio (KPMM), and after the c. To grant authority and power to the Board of Directors
distribution of dividends and other investment projects, with the right of substitution to determine the
the Bank’s health level, etc. schedule and procedures for distributing dividends
4. The dividend distribution plan must be included in the for the FiscalYear 2022 in accordance with prevailing
Bank’s Business Plan submitted to FSA. regulations.
5. Proposals for dividend distribution approved 2. 60% of Net Profit or IDR10,987,231,863,663 to be used
by management are then sent for a request for as Retained Earnings.
recommendations to the Board of Commissioners to
obtain approval from the Annual General Meeting of
Shareholders (AGMS).
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Based on this decision, the GMS approved the payment of dividends from net profit amounting to IDR7,324,821,242,436,
or IDR392.780105040 per share to be distributed to shareholders with the schedule and procedure for distributing cash
dividends for the Fiscal Year 2022 as follows. following:
No Description Date
End of Trading Period Shares With Dividend Rights (Cum Dividend)
March 27, 2023
1 • Regular and Negotiation Market
March 29, 2023
• Cash Market
Beginning of Stock Trading Period Without Dividend Rights (Ex Dividend)
March 28, 2023
2 • Regular and Negotiation Market
March 30, 2023
• Cash Market
3 List of Shareholders entitled to Dividends (Recording Date) March 29, 2023
4 Cash Dividend Payment Date April 14, 2023
Description: Taking into account international best practice, the company will make payments in 2023 within 30 (thirty) days from the date of the GMS approving the use of the
Company’s net profit to be paid as cash dividends. GMS approving the use of the Company’s net profit to be paid as cash dividends.
The procedure for distributing cash dividends from BNI’s invested in the territory of the Republic of Indonesia. For
net profit for the Fiscal Year 2022 was as follows: WPOP DN who do not comply with the above investment
1. Cash Dividends were distributed to Shareholders whose requirements, the Cash Dividends received by the
names were registered in the Register of Shareholders persons concerned will be subject to income tax (“PPh”)
(“DPS”) on recording date and/or share owners in in accordance with the applicable laws and regulations,
securities sub accounts at PT Kustodian Sentral Efek and the PPh must be paid by the relevant WPOP DN.
Indonesia (“KSEI”) at the close of trading on March in accordance with the provisions of Government
29, 2023. Regulation No. 9 of 2021 concerning Tax Treatment to
2. For Shareholders whose shares were placed in KSEI’s Support Ease of Doing Business.
collective custody, cash dividend payments were made 5. Shareholders can obtain confirmation of dividend
through KSEI and distributed on April 14, 2023 into the payments through the securities company and/or
Customer Fund Account (RDN) at the securities company custodian bank where the shareholder has a securities
and/or custodian bank where the Shareholder holds a account, then the shareholder will be responsible for
securities account. Whereas for Shareholders whose reporting the receipt of dividends referred in the tax
shares are not included in KSEI’s collective custody, report for the relevant tax year in accordance with the
cash dividend payments will be transferred to the applicable tax laws and regulations.
Shareholder’s account. 6. For shareholders who are Foreign Taxpayers, tax
3. Cash dividends will be subject to tax in accordance with deductions will use rates based on the Double Taxation
applicable tax laws and regulations. Avoidance Agreement (“P3B”), and they must comply
4. Based on applicable tax laws and regulations, cash with the requirements of the Director General of
dividends will be excluded from taxation if they are Taxes Regulation No. PER-25/PJ/2018 concerning
received by domestic corporate taxpayer shareholders Procedures for Implementing DoubleTaxation Avoidance
(“DN Corporate Taxpayers”) and the Company will Agreements, and submit DGT/SKD proof or receipt
not withhold Income Tax on cash dividends paid to documents that have been uploaded to the Directorate
DN Corporate Taxpayers. Cash dividends received by General ofTaxes website to KSEI or BAE by the deadline
domestic individual taxpayer shareholders (“WPOP DN”) in accordance with KSEI rules and regulations, without
will be exempt from tax as long as the dividends are sucg documents, cash dividends paid will be subject to
Income Tax Article 26 of 20%.
Information on Dividend Payments from the Net Profit for Fiscal Year 2022
Distributed Cash Dividends (IDR) IDR7.324.821.242.436,-
Dividend per Share (IDR) IDR392,780105040
Dividend Distribution Ratio (%) 40%
Announcement Date March 16, 2023
Payment Date April 14, 2023
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Distribution and payment history of dividends for the last 5 (five) years is as follows:
Dividend Distribution Year
2023 2022 2021 2020 2019
(For Business (For Business (For Business (For Business (For Business
Results In 2022) Results In 2021) Results In 2020) Results In 2019) Results In 2018)
Cash Dividend
Distributed (IDR- IDR7.324 2.724,6 820,1 3.846,1 3.753,8
billion)
Dividend per Share
IDR392,780105040 146,3 44,0 206,2 201,3
(IDR)
40% of net profit for 25% of net profit for 25% of net profit for 25% of net profit for 25% of net profit for
Percentage of Total the year attributable the year attributable the year attributable the year attributable the year attributable
Dividends to Net Profit to owners of the to owners of the to owners of the to owners of the to owners of the
(%) parent entity for the parent entity for the parent entity for the parent entity for the parent entity for the
2022 fiscal year 2021 fiscal year 2020 fiscal year 2020 fiscal year 2018 fiscal year
Announcement Date March 16, 2023 March 17, 2022 March 31, 2021 February 24, 2020 May 15, 2019
Payment Date April 14, 2023 April 14, 2022 April 14, 2022 March 24, 2020 June 14, 2019
Development of Total Cash Dividends
Distributed in the Last 5 Years
(IDR-billion)
7.324,00
3.846,12
3.753,78
2.724,63
820,10
2019 2020 2021 2022 2023
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Taxation and Non-Tax State
Revenue (PNBP) : BNI’s Contribution
to National Development
BNI TAX CONTRIBUTION
BNI acts as a taxpayer and tax withholding/collector as BNI is always on time in terms of paying tax obligations for
its contribution to the State. BNI’s biggest contribution Corporate Income Tax, Employee Income Tax, VAT and PBB.
as a taxpayer is by fulfilling its Corporate Income Tax BNI also submits tax liability documents, such as annual
obligations. BNI also actively contributes to withholding and monthly tax returns, as well as liability documents to
taxt when carrying out its function as a tax with holder. regulatory agencies in a timely manner.
Tax Payments 2021-2023
Increase (Decrease) Increase (Decrease)
2023 2022 2021 2022 - 2023 2021-2022
Type of Tax (IDR- (IDR- (IDR- Nominal Nominal
billion) billion) billion) Percentage Percentage
(IDR- (IDR-
(%) (%)
billion) billion)
VAT 653 557 416 96 17,2 141 33,9
Withholding Income Tax*) 4.910 3.568 3.244 1.342 37,6 324 10,0
Corporate Tax 4.387 4.997 3.240 (610) (12,2) 1.757 54,2
Other Taxes 111 103 50 8 7,8 53 106,0
Total 10.061 9.225 6.950 836 9,1 2.275 32,7
*) Withholding Income Tax consists of Income Tax Articles 21/26, 15, 22, 23/26, and Income Tax Article 4.
Development of Total Tax Payment 2019 - 2023
(IDR-miliar)
4.910
4.997
4.827
4.387
4.016
3.801
3.244 3.568
3.240
2.009
557 653
268 238 416
80 61 50 103 112
2019 2020 2021 2022 2023
PPN PPh Deduction/Collection PPh Agency Other Taxes
BNI has paid all tax assessments as a result of audits that are due for payment as described in the previous points.
Even though BNI is still in the process of filing legal action, BNI has paid all tax arrears in accordance with applicable
regulations. So as a rule, BNI does not have tax arrears.
Problems related to tax disputes can be seen in the “Corporate Governance” chapter in this Annual Report.
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OTHER NON-TAX STATE INCOME (PNBP).
Increase (Decrease)
Types of Other Non-Tax State 2023 2022 2021 2022 - 2023
Income (PNBP). (IDR- billion) (IDR- billion) (IDR- billion) Nominal
Percentage (%)
(IDR-billion)
DJPB (Director General of
17,154 4,591 - 12,563 297.65
Treasury)
DJA (Director General of Budget) 79,846 99,296 81,215 (19,450) (19.59)
DJPPR (Director General of
11,836 8,532 8,131 3,303 38.71
Financing & Risk Management)
Total 108,835 112,419 89,346 (3,584) (3.19)
Non-Tax State Revenue (PNBP) relates to Indonesian State income sources other than taxes. PNBP is a levy paid by
individuals or businesses that obtain direct or indirect benefits from the use of resources and rights obtained from the
State, based on legislation related to Central Government’s income outside of tax revenues and grants managed in the
State Revenue and Expenditure Budget mechanism.
Individuals or business entities make PNBP payments to the State Treasury through payment places appointed by the
Minister, including Bank BNI, whereby Bank BNI acts as a collecting agent to distribute funds to the State Treasury.
During 2023, BNI distributed PNBP amounting to IDR108.8 trillion, an increase of 3.19% from the previous year. The
highest PNBP distribution was the Director General of Budget’s PNBP distribution, which reached IDR79.8 trillion. The
Director General of Treasury’s PNBP distribution increased by 297.65% and the Director General of Financing & Risk
Management’s PNBP distribution increased by 38.71%. Meanwhile, the Director General of Budget’s PNBP distribution
decreased by 19.59% YoY.
In 2021, the Director General of Treasury’s PNBP distribution was combined with the Director General of Budget with a
total nominal value of IDR81 trillion.
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Information regarding
the Realization of Use of
Public Offering Proceeds
PUBLIC OFFERING OF SHARE SECURITIES Use of Funds
Funds sourced from the Rights Issue III were used for:
On November 25, 2010, at the Extraordinary General 1. 80% for Corporate, Commercial, Small Business and
Shareholders’ Meeting, the shareholders decided, among Consumption loans;
other matters, to increase the issued and paid-up capital 2. 15% for infrastructure development in information
through a limited public offering with preemptive right (LPO technology, outlets, ATMs and others;
III) to shareholders for the issuance of 3,374,715,948 new 3. 5% for the development of subsidiaries, namely BNI Life,
Class C shares with a nominal value of IDR375 (full amount) BNI Syariah, BNI Sekuritas and BNI Finance.
per share. The Preemptive Rights could be traded on and
off the Indonesia Stock Exchange (IDX) from December Fund Balance
10, 2010 to December 16, 2010, taking into account the On December 31 2018, the proceeds from the Limited Public
applicable provisions in the capital market. Offering III were Nil, as 100% of the funds obtained had
been distributed.
Total Acquisition of Funds
From PUT III, the net realized value after deducting the cost
of issuing shares was IDR10.2 trillion.
Use Of Proceeds Realization From Limited Public Offering III Nominal
Proceeds from Public Offering (after expenses) - nett IDR10,216,388,163,029
Use of Proceeds Realization
as of December 31, 2014
About 80% used for corporate, commercial, small business and consumer loans
IDR8,173,110,530,423
as of December 31, 2014
About 15% used for infrastructure development on information technology, outlets, ATMs and others
IDR1,532,458,224,454
About 5% used for the development of subsidiaries namely BNI Life, BNI Syariah, BNI Securities and as of December 31, 2014
BNI Finance. IDR510,819,408,152
Balance of Funds Nil
In 2023, BNI was not obliged to submit a report on the realization of the use of funds from a public offering in accordance
with OJK Regulation No. 30/POJK.04/2015 concerning Realization Report on the Use of Public Offering Proceeds.
PUBLIC OFFERING OF SUBORDINATED MTN BONDS
MTN SUBORDINASI
BNI issued Subordinated Medium Term Notes (MTN) with the aim of strengthening supplementary capital (tier 2) and
working capital for business development, especially lending and increasing the composition of the long-term fund
association structure, in accordance with OJK Regulation No. 11/POJK.03/2016 concerning the Minimum Capital Adequacy
Requirement for Commercial Banks as amended by OJK Regulation No. 34/POJK.03/2016.
This Subordinated MTN is not guaranteed by any special collateral, including not guaranteed by the Bank or its Subsidiaries,
the Republic of Indonesia or other third parties and is not included in the bank guarantee program implemented by the
Deposit Insurance Agency or its replacement in accordance with the applicable laws and regulations and follows the
provisions in article 19 paragraph (1) letter f in accordance with OJK Regulation No. 11/POJK.03/2016, as amended by
OJK Regulation No. 34/POJK.03/2016 and is a subordinated Bank obligation, in accordance with the provisions of the
Subordinated MTN issuance agreement.The rights of Subordinated MTN holders are junior to the rights of other creditors.
Information about the Subordinated MTN Offered
Subordinated MTN were issued in the amount of IDR100,000,000,000.00 with a coupon payment period of 8% p.a and
every 3 months (quarterly), based on the interest calculation of 30/360 with a tenor of 5 (five) years.
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Name Subordinated Medium Term Notes I BNI - 2018
Principal amount IDR100.000.000.000
Bid Price 100.00% from Subordinated MTN principal value
Tenor 5 years from date of issue
Coupon Rate 8.00% per annum
Type of Interest rate Fixed
Interest Payment Period Quarterly
First Interest Payment Date November 10, 2018
This Subordinated MTN is not guaranteed by any special collateral, including not
guaranteed by the company or subsidiaries, the Republic
of Indonesia or other third parties, and is not included in the bank guarantee program
in the deposit insurance agency, in accordance with applicable laws and regulations,
and following the provisions in Article 19 Paragraph (1) point f in POJK No. 11/
Collateral
POJK.03/2016 as amended by the Financial Services Authority Regulation No. 34/
POJK.03/2016 and is a subordinated liability of the Company, in accordance with the
provisions of the Subordinate MTN issuance agreement. The rights of Subordinated
MTN holders are junior to the rights of other corporate creditors at the time of
liquidation in accordance with the applicable laws and regulations.
Peringkat Efek idAA (double A flat) from PT Pemeringkat Efek Indonesia (Pefindo)
Purpose of Use of Subordinated MTN Funds
The issuance of the Subordinated MTN aims to comply with OJK Regulation No. 14/POJK.03/2017 article 24 and article
37 concerning the Recovery Plan, in which systemic banks are required to have capital characteristics debt notes by
December 31, 2018 at the latest.
Subordinated MTN Fund Balance
As of December 31, 2023, the Subordinated MTN balance was 0 (already paid off).
Subordinated MTN Interest Payment Schedule
The interest rate of 8% per year was paid periodically every 3 (three) months with the following schedule:
Subordinated MTN Interest Payments
Interest No. Date of Interest Payment Interest (%)
1 November 10, 2018 8.0
2 February 10, 2019 8.0
3 May 10, 2019 8.0
4 August 10, 2019 8.0
5 November 10, 2019 8.0
6 February 10, 2020 8.0
7 May 10, 2020 8.0
8 August, 10 2020 8.0
9 November 10, 2020 8.0
10 February 10, 2021 8.0
11 May 10, 2021 8.0
12 August 10, 2021 8.0
13 November 10, 2021 8.0
14 February 10, 2022 8.0
15 May 10, 2022 8.0
16 May 10, 2022 8.0
17 November 10, 2022 8.0
18 February 10, 2023 8.0
19 May 10, 2023 8.0
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Subordinated MTN Interest Payments
Interest No. Date of Interest Payment Interest (%)
20 August 10, 2023 8.0
TIER II CAPITAL BOND 2021
BNI issues debt instruments with capital characteristics in the form ofTier II Capital Bonds which are listed on the Singapore
Exchange (SGX Listing) with a principal amount of USD500,000,000.00 with a write down feature and can be calculated
as a Tier II capital component through OJK letter No. S-64/ PB.31/2021 dated March 31, 2021. The issuance of the Tier II
Capital Bond is one of BNI’s strategies in increasing bank capital through Tier 2 Capital.
Tier II Capital Bonds are offered with a fixed interest rate of 3.75% p.a. for term of 5 (five) years. Acting as supporting
institutions and professions for the issuance of Tier II Capital Bonds were HSBC and Citi Group. The legal consultants
used were Ginting & Reksodiputro and Allen & Overy, and HSBC acting as Trustees and Paying Agents. The bonds have
received a rating on long-term debt securities from Fitch Rating with a BB rating, and a Moody’s Rating of Ba2.
Description of Tier II Capital Bonds Offered
Tier II Capital Bonds issued for IDR500,000,000.00 have a coupon payment period of 3,75% p.a every 6 months (semi-
annually), with an interest calculation basis of 30/360 with a tenor of 5 years.
Name Tier II Capital Bond 2021
Principal Amount USD500,000,000.00
Bid price 100.0% of principal
Time period 5 years from the date of issuance
Interest Rate 3.75% per year
Type of Interest Rate Fixed
Interest Payment Period Half Yearly
First Interest Payment Date September 30, 2021
Permanent write-down (partial is allowed) as determined by the issuer and with the
Loss Absorption
approval of FSA
Fitch Rating of BB
Securities Rating
Moody’s Rating of Ba2.
Purpose of Funds Use from Tier II Capital Bonds
The issuance of Tier II Capital Bonds aims to increase Bank capital through Tier II Capital, for general funding needs and
to increase long-term funding.
Tier II Capital Bond Fund Balance
As of December 31, 2023, the Tier II Capital Bond balance was USD500,000,000.00.
Tier II Capital Bond Interest Payment Schedule
The interest rate is 3.75% per annum which is paid periodically every 6 months with the following schedule:
Tier II Capital Bond Interest Payments
Interest No. Date of Bond Interest Payment Interest (%)
1 September 30, 2021 3.75%
2 March 30, 2022 3.75%
3 September 30, 2023 3.75%
4 March 30, 2023 3.75%
5 September 30, 2024 3.75%
6 March 30, 2024 3.75%
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Tier II Capital Bond Interest Payments
Interest No. Date of Bond Interest Payment Interest (%)
7 September 30, 2024 3.75%
8 March 30, 2025 3.75%
9 September 30, 2025 3.75%
10 September 30, 2025 3.75%
ADDITIONAL TIER I CAPITAL BOND 2021
BNI issues debt instruments with capital characteristics in the form of Additional Tier I Capital Bonds which were registered
on the Singapore Exchange (SGX Listing) with a principal amount of USD600,000,000.00 which has a write down feature
and can be counted as a Tier I capital component through OJK letter No S-210/PB.31/2021 September 30, 2021.
The issuance of the Additional Tier I Capital Bond aims to increase Tier I Capital, general funding, and improve the structure
of long-term funds. Additional Tier I Capital Bonds are offered with a fixed interest rate of 4.30% p.a. perpetual timeframe
(no maturity) with a call option after 5.5 (five and a half) years. Acting as supporting institutions and professionals in the
issuance of Additional Tier I Capital Bonds were BNI Sekuritas, JP Morgan and UBS. The legal consultants used were
Hadiputranto, Hadinoto & Partners and Baker McKenzie, and HSBC asTrustee and Paying Agent.The bonds have received
a rating on long- term debt securities from Moody’s Rating, of Ba3.
Information on the Additional Tier I Capital Bonds Offered
Additional Tier I Capital Bonds issued for USD600,000,000.00 with a coupon payment period of 4.3% p.a every 6 months
(semester), with an interest calculation basis of 30/360 with a tenor of 5.5 years until the date of the call option.
Name Additional Tier1 Capital Bond BNI 2021
Principal Amount USD600,000,000.00
Bid price 100.0% of principal
Time period Perpetual, Non Callable 5.5 years from the date of issue
Interest Rate 4.3% per year
Type of Interest Rate Fixed
Interest Payment Period Half yearly
First Interest Payment Date March 24, 2022
Permanent write-down (full or partial) if the Point of Non-Viability condition is
Loss Absorption
determined by FSA.
Securities Rating Moody’s Rating Ba3.
Purpose of Use of Additional Tier I Capital Bond Funds
The issuance of Additional Tier I Capital Bonds aims to increase the Bank’s capital through Tier II Capital, for general
funding needs and to increase long-term funding.
Additional Tier I Capital Bond Fund Balance
As of December 31, 2023 Additional Tier I Capital Bonds balance was USD600,000,000.00.
Additional Tier I Capital Bond Interest Payment Schedule
The interest rate is 4.30% per annum paid every 6 months with the following schedule:
Additional Tier 1 Capital Bond Interest Payments
Interest No Date of Bond Interest Payment Interest (%)
1 Interest (%) 4.3%
2 September 24, 2022 4.3%
3 March 24, 2023 4.3%
4 September 24, 2023 4.3%
5 March 24, 2024 4.3%
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Additional Tier 1 Capital Bond Interest Payments
Interest No Date of Bond Interest Payment Interest (%)
6 September 24, 2024 4.3%
7 March 24, 2025 4.3%
8 September 24, 2025 4.3%
9 March 24, 2026 4.3%
10 September 24, 2026 4.3%
11 March 24, 2027 4.3%
ENVIRONMENTALLY FRIENDLY BONDS (GREEN BOND) I
BNI received an effective statement from OJK through letter No. S-93/D.04/2022 on June 10, 2022 to issue PT Bank
Negara Indonesia (Persero) Tbk 2022 environmentally Friendly Green Bond I. Green Bonds were issued with a value of
IDR5,000,000,000,000.00 (five trillion Rupiah) in 2 (two) series, series A and B, with consecutive tenors of 3 years and 5
years, and consecutive coupons of 6.35% and 6.85%. The Green Bonds were issued on June 21, 2022 and listed on the
Indonesia Stock Exchange (IDX) on June 22, 2022. BNI has obtained an idAAA rating on Green Bond from PT Pemeringkat
Efek Indonesia (PEFINDO) and a Second Party Opinion provided by Sustainalytics.
Environmentally Friendly Bonds (Green Bond) I of PT Bank Negara Indonesia (Persero) Tbk
Name Obligasi
in 2022
Bond Principal Amount IDR5,000,000,000,000.00
Bid price 100.00% of the principal amount of the Bonds
Series A : 3 (three) years from the date of issuance
Time period
Series B : 5 (five) years from the date of issuance
Overbooking Unit IDR1 or multiples thereof
Unit/Trade IDR5,000,000 or multiples thereof
Series A : 6.35% per annum
Bond Interest Rate
Series B : 6.85% per annum
Type of Interest Rate Fixed
Fixed Quarterly
First Interest Payment Date September 21, 2022
This bond is not guaranteed by a special guarantee, but is guaranteed by all of the Bank’s
assets, both movable and immovable property, both existing and those that will exist in
the future as collateral for the Bondholders in accordance with the provisions in articles
Jaminan 1131 and 1132 of the Indonesian Civil Code. - Civil Law Act. The rights of the Bondholders
are paripassu without preferential rights with other creditor rights, both current and
future, except for creditor rights that are specifically guaranteed by the Bank’s assets, both
existing and future.
Securities Rating idAAA (triple A) from Pefindo
The Bank does not provide a sinking fund for Bond Principal redemption funds with the
Sinking Fund consideration of optimizing the use of emission proceeds in accordance with the purpose
of the planned use of emission funds.
This Green Bond has an buy back option based on the terms and conditions of the Trustee
Buy Back
Agreement.
PT Bank Mandiri (Persero) Tbk was appointed as the Trustee in the issuance of this Bond in
Trustee
accordance with the provisions contained in the Trustee Agreement
Plan of Use from Public Offering of Environmentally Friendly Bonds (Green Bond) I Funds
The proceeds from the issuance of the Green Bonds after deducting issuing costs, will all be used by BNI to finance
and refinance projects in the Environmentally Friendly Business Activities category (KUBL), namely projects related
to renewable energy, energy efficiency, processing waste into energy. and waste management, sustainable use of
natural resources and land use, conservation of land and aquatic biodiversity, environmentally friendly transportation,
sustainable management of water and wastewater, climate change adaptation, environmentally sound buildings, and
sustainable agriculture, taking into account OJK Regulation No. 60/POJK.04/2017 concerning Issuance and Requirements
for Environmentally Friendly (Green Bond) Debt Securities.
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Information on Changes in Use of Funds
During 2023 there were no changes in the use of funds.
Use of Proceeds from Bond Public Offering Realization
Realization of Use of Proceeds from the Public Offering of Environmentally Friendly Bonds, (Green Bond) I PT Bank
Negara Indonesia (Persero)
Realized Public Use of Funds
Realized Public Offering Results
Offering Results Realization
Remaining
Total Total Financing Funds from
Use of Funds Effective Financing or
Public Public Net or refincing Public
Realization Date refincing of Total Total
Offering Offering Yield of projects Offering
projects in the (IDR- (IDR-
Results Results (IDR- in the KUBL (IDR-billion)
KUBL category*) billion) billion)
(IDR- (IDR- billion) category*)
(IDR-billion)
billion) billion) (IDR-billion)
Environmentally
Friendly Bonds
(Green Bond) I June 10,
5,000 16 4,984 4,984 4,984 4,984 4,984 -
PT Bank Negara 2022
Indonesia (Persero)
Tbk 2022
*) KUBL Category (Environmentally Friendly Business Activities): projects relate to renewable energy, energy efficiency, processing waste into energy and waste management,
sustainable use of natural resources and land use, land and water biodiversity conservation, environmentally friendly transportation, sustainable water and wastewater
management, climate change adaptation, environmentally sound buildings, and sustainable agriculture, and take into account Financial Services Authority Regulation Number
60/POJK.04/2017 concerning Issuance and Requirements for Environmentally Sound Debt Securities (Green Bond).
Green Bond Payments
Green Bond Payments
Series A Series B
Interest No
Date of Interest Payment Interest (%) Date of Interest Payment Interest (%)
1 September 21, 2022 6.35% September 21, 2022 6.85%
2 December 21, 2022 6.35% December 21, 2022 6.85%
3 March 21, 2023 6.35% March 21, 2023 6.85%
4 June 21, 2023 6.35% June 21, 2023 6.85%
5 September 21, 2023 6.35% September 21, 2023 6.85%
6 December 21, 2023 6.35% December 21, 2023 6.85%
7 March 21, 2024 6.35% March 21, 2024 6.85%
8 June 21, 2024 6.35% June 21, 2024 6.85%
9 September 21, 2024 6.35% September 21, 2024 6.85%
10 December 21, 2024 6.35% December 21, 2024 6.85%
11 March 21, 2025 6.35% March 21, 2025 6.85%
12 June 21, 2025 6.35% June 21, 2025 6.85%
13 September, 21 2025 6.85%
14 December 21, 2025 6.85%
15 March 21, 2026 6.85%
16 June 21, 2026 6.85%
17 September, 21 2026 6.85%
18 December 21, 2026 6.85%
19 March 21, 2027 6.85%
20 June 21, 2027 6.85%
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Negotiable Certificate
`Of Deposit (NCD)
BNI issued Rupiah scripless Negotiable Certificates of 4. In semester I 2019, BNI issued scripless Rupiah NCDs
Deposit (NCD) aimed at strengthening the liquidity and twice with a total issuance of IDR950 billion (NCD IDR I
structure and composition of Rupiah funding as follows: BNI 2019) and IDR1 trillion (NCD IDR II BNI 2019)
1. In semester I 2016, BNI issued its first scripless Rupiah 5. In semester II 2019, BNI again issued scripless Rupiah
NCDs for IDR3.0 trillion in 6 series of tenors (6 months NCDs for IDR2.39 trillion.
to 3 years. 6. In semester I 2020, BNI issued scripless Rupiah NCDs
2. In semester II 2016, BNI issued another scripless Rupiah for IDR1.39 trillion.
NCDs for IDR2.2 trillion, from an original target of IDR1 7. In Semester II 2022, BNI issued scripless Rupiah NCDs
trillion (oversubscribed). This oversubscribe shows the for IDR2.5 trillion and scripless USD NCDs for USD 31.5
high level of investor trust and interest in BNI. million (IDR500 billion).
3. In semester I 2017, BNI issued scripless Rupiah NCDs
for IDR2.7 trillion.
Issuance Principal Amount Average Rate
Date Currency
Phase (IDR Billion) (IDR Billion) (%)
1 June 16, 2016 Rupiah 3,023 2,598 8.20%
2 September 27, 2016 Rupiah 2,200 1,877 6.70%
3 March 10, 2017 Rupiah 2,700 2,483 7.00%
4 March 28, 2019 Rupiah 1000 950 7.70%
5 June 28, 2019 Rupiah 1,000 1,000 7.55%
6 September 25, 2019 Rupiah 2,390 2,232 6.61%
7 May 12, 2020 Rupiah 1,390 611,6 5.60%
8 December 8, 2022 Rupiah 2,500 2,390 6.04%
9 December 8, 2022 USD 500 489 4.25%
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 355
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Material Information Regarding Corporate
Action, Investments, Expansions,
Divestments, Business Mergers,
Acquisitions, and/or Restructuring
Material Information Regarding Corporate Action 3. Disclosure of Information for the Stock Split Plan
1. Material Information Regarding Corporate Action PT Bank Negara Indonesia (Persero) Tbk. (“Company”)
The Company plans to carry out a Buyback of Company will carry out a Stock Split (“Stock Split”) with reference
Shares (“Buyback”) by referring to OJK Regulation No. to the Republic of Indonesia Financial Services Authority
30/POJK.04/2017 concerning the Buyback of Shares (OJK) Regulation No. 15/POJK.04/2022 concerning Stock
Issued by Public Companies (“POJK 30/2017”). The Splits and Stock Mergers by Public Companies (“POJK
number of shares to be repurchased by the Company is No. 15/2022”).The Stock Split plan is to increase demand
estimated to be IDR905,000,000,000.- (nine hundred and for the Company’s shares by expanding the investor
five billion Rupiah) or 10% of the total paid-up capital. base, with Stock Split carried out with a split ratio of 1:2.
The buyback transaction period will be 18 months from Shareholder approval for the Stock Split was proposed
the time the FiscalYear 2022 Annual GMS held on March at the Company’s Extraordinary General Meeting of
15, 2023, or from March 16, 2023 to September 15, 2024. Shareholders (EGMS) held on September 19, 2023.
2. Notification of the Cash Dividend Payments for the BNI 4. Disclosure of Information for the Stock Split.
Fiscal Year 2022 Information Disclosure was carried out for the Company’s
Based on the PT Bank Negara Indonesia (Persero) Tbk Stock Split with a split ratio of 1 (one) old share into
(hereinafter referred to as the “Company”) 2022 Annual 2 (two) new shares, and received approval from PT
General Meeting of Shareholders resolution, on March Bank Negara Indonesia (Persero) Tbk. (“Company”)
15, 2023, the Meeting approved the distribution of cash in the Company’s Extraordinary General Meeting of
dividends to the Company’s shareholders amounting to Shareholders on the September 19, 2023 (EGMS”).
IDR7,324,821,242,436, with each 1 (one) share entitled Information Disclosure was submitted to comply with
to receive a cash dividend of IDR392,7801050404 based Article 24 of the OJK Regulation No. 15/POJK.04/2022
on the number of shares on the cum date and dividend concerning Share Splits and Stock Mergers by Public
recording date. In connection with this matter, we Companies (“POJK No. 15/2022”).
present the Summary of Minutes of the Company’s
2022 Annual GMS.
Material Information Regarding Investments
1. Implementation of BNI Share Buyback Transactions in 2023
1 Date : March 15, 2023
2 Affiliated Transaction Object : The object of the Affiliated Transaction is to carry out BNI Share Buyback Transactions in 2023.
The transaction value, based on the contract, was Rp343,849,315,- (three hundred forty-three
3. Affiliated Transaction Value :
million eight hundred forty-nine thousand three hundred and fifteen rupiah).
Name of the Party Carrying Out
The parties carrying out the Transaction were the Company and PT BNI Sekuritas (hereinafter
4. Transactions and Relationships :
referred to as “BNIS”).
with the Public Company
Nature of Affiliated
Relationships of Parties The Company and BNIS have an affiliate relationship as the Company owns 75% (seventy five
5. :
Conducting Transactions with percent) direct shares in BNIS.
Public Companies
Providing services for carrying out buybacks of BNI shares issued and listed on the Indonesia
Description of Affiliated
6. : Stock Exchange (BEI) based on the provisions of POJK No. 30/POJK.04/2017, to be carried out
Transaction
after obtaining approval from the GMS through a securities company registered on the IDX.
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
2. Additional Capital by the Company to PT BNI Multifinance (BNI Finance)
1. Date : August 21, 2023
Type of Material Submission of reports/information related to the additional capital by the Company to PT BNI
2. :
Information or Facts Multifinance (BNI Finance), an affiliated party of the Company.
On August 21 2023, the Company carried out additional capital of IDR400,000,000,000 (four
hundred billion rupiah) to BNI Finance, which is intended to strengthen BNI Finance’s capital and
support BNI Finance transformation to focus on the consumer segment.
After the capital increase, the Company’s share ownership in BNI Finance increased to 99.997%
from the previous 99.994%.
Below we show the BNI Finance shareholders composition after the capital increase:
Description of Material
3. : Shareholders Nominal Shares (IDR) (%)
Information or Facts
Company 698,413,985,350 99.997%
BNI Finance Employee Cooperative 18,151,550 0.003%
Total 698,432,136,900 100.000%
This transaction is an affiliated transaction that is reportable. The relationship between the Company
and BNI Finance is that the Company owns 99.994% (ninety nine point nine nine four percent) direct
shares in BNI Finance so the Company is the majority shareholder of BNI Finance and controls BNI
Finance directly.
Impact on Operational
The additional capital of PT BNI Multifinance will have a positive impact on consolidated
Activities, Legal, Financial
4 : performance from increasing the BNI Finance business and complementing services from the BNI
Condition and Business
Group.
Continuity
The capital investment plan received approval from OJK based on Letter No. SR-61/PB.21/2023 on
5. Other information :
August 9, 2023 and has been budgeted for in the BNI 2023-2025 Bank Business Plan.
3. Additional Capital by the Company to PT BNI Multifinance (BNI Finance)
1. Date : December 12, 2023
Type of Material Submission of report/information related to the additional capital by the Company to PT BNI
2. :
Information or Facts Multifinance (BNI Finance), an affiliated party of the Company.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 357
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
On December 12 2023, the Company carried out additional capital of IDR400,000,000,000 (four
hundred billion rupiah) to (BNI Finance), to strengthen the company’s capital and support the BNI
Finance transformation to focus on the consumer segment.
After the capital increase, the Company’s share ownership in BNI Finance increased to 99.9983%
from the previous 99.9974%.
Below we show the BNI Finance shareholders composition after the capital increase:
Description of Material
3. : Shareholders Nominal Shares (IDR) (%)
Information or Facts
Company 1,098,413,985,350 99.9983%
BNI Finance Employee Cooperative 18,151,550 0.0017%
Total 1,098,432,136,900 100.000%
This transaction is an affiliated transaction that is reportable. The relationship between the
Company and BNI Finance is that the Company owns 99.997% (ninety nine point nine nine seven
percent) direct shares in BNI Finance so the Company is the majority shareholder of BNI Finance
and controls BNI Finance directly.
Impact on Operational
Activities, Legal, Financial The additional capital of PT BNI Multifinance will have a positive impact on consolidated performance
4 :
Condition and Business from increasing the BNI Finance business and complementing services from the BNI Group.
Continuity
The capital investment plan received approval OJKbased on Letter No. SR-61/PB.21/2023 on August
5. Other information :
9, 2023 and has been budgeted for in the BNI 2023-2025 Bank Business Plan.
Material Information Regarding Expansions, Divestments, Business Mergers, Acquisitions and Debt/
Capital Restructuring
In 2023, the Company did not carry out any expansions, divestments, business mergers, acquisitions and debt/capital
restructuring activities so information regarding the objectives, transaction value and sources of funds for expansions,
divestments, business mergers, acquisitions and debt/capital restructuring activities is not presented
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Information on Material Transactions
that Contain Conflicts of Interest and/or
Transactions with Affiliated/Related Parties
DEFINITION OF AFFILIATED/ of Directors, members of the Board of Commissioners,
RELATED PARTIES the Majority and Controlling Shareholders, including
all activities and/or transactions conducted by public
In the normal course of its business, BNI conducts companies or controlling companies for the benefit of
transactions with related parties due to ownership and/or affiliates of public companies or affiliates of members of
management relationships. All transactions with related the Board of Directors, and the Board of Commissioners,
parties are conducted carried out under mutually agreed and the Majority and Controlling Shareholders.
policies and terms. BNI and its Subsidiaries conduct
transactions with related parties by referring to PSAK POJK 42 regulates the procedural obligations for Public
7 concerning “Related Party Disclosures” and Financial Companies including exceptions, in terms of carrying out
Services Authority Regulation No. 14/ POJK.04/2022 Affiliated Transactions. In accordance with Article 8 and
regarding Submission of Periodic Financial Statements Article 9 POJK 42, Affiliated Transactions are business
(“POJK 42/2020”), which is defined among others: activities carried out to generate business income and
1. Companies under the control of BNI and its Subsidiaries; are carried out routinely, repeatedly and/or continuously,
2. Associated companies; should be disclosed in the Public Company’s annual report
3. Investors with voting rights, which gives these investors or financial report, as disclosed above.
a significant influence;
4. Companies under the control of an investor who has Explanation of BNI’s policies regarding review mechanisms
voting rights, which gives the investors a significant for affiliated/related party transactions, especially
influence; explanations concerning compliance with related
5. Key employees and their family members; and regulations and provisions (PSAK, OJK Regulation No. 42/
6. Entities controlled, jointly controlled or significantly POJK.04/2020 concerning AffiliateTransactions and Conflict
influenced by the Government of Interest Transactions, as well as OJK Regulation No. 32/
POJK.03/2018 concerning the Legal Lending Limit (BMPK)
COMPANY POLICY CONCERNING REVIEW for Commercial Banks).
MECHANISM FOR TRANSACTIONS
AND COMPLIANCE WITH RELATED STATEMENT OF THE BOARD OF DIRECTORS
REGULATIONS AND PROVISIONS AND BOARD OF COMMISSIONERS
ON AFFILIATED TRANSACTIONS
To protect the interests of shareholders and stakeholders,
in carrying out its activities, the Company is subject to Paying attention to POJK 42/2020, the Board of Directors
policiy provisions in terms of the review mechanism for states that all Affiliated Transaction has gone through
affiliated/related party transactions, which are guided by adequate procedures to ensure that they are carried out
laws and regulations including PSAK, OJK Regulation No. in accordance with generally accepted business practices,
42/POJK.04/2020 concerning Affiliated Transactions, and including complying with the arm’s-length principle. The
Conflict of Interest Transactions (“POJK 42”), as well as Board of Commissioners and Audit Committee play a role
OJK Regulation No. 32/POJK.03/2018 concerning Legal in carrying out adequate procedures to ensure that Affiliated
Lending Limits (BMPK) for Commercial Banks). Transactions are carried out in accordance with generally
accepted business practices, including compliance with
Based on POJK 42, Affiliated Transactions are defined as the arm’s-length principle.
any activities and/or transactions carried out by a public
company or a controlling company with Affiliates that are
a public company or are Affiliated to members of the Board
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 359
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Names of Transaction Parties and Nature of Affiliated Relationship
Disclosure of Affiliated/Related Parties
Related Parties Nature of Relationship Nature of the Transaction
Social Security Organizing Agency (BPJS) Control through the Government of the
• Securities Issued
Employment Republic of Indonesia
Pension Fund (“DP”) BNI Based on Ownership and/or Management • Securities Issued
BNI Financial Institution Pension Fund (DPLK) Based on Ownership and/or Management • Securities Issued
Entities Controlled through Government Control through the Government of the • Other Bank Deposits
Republic of Indonesia Republic of Indonesia • Customer Savings
• Securities owned
• Securities issued
• Undrawn loan facilities
Control through the Government of the
Ministry of Finance of the Republic of Indonesia • Bank guarantee issued
Republic of Indonesia
• Letters of Credit
• Loans disbursed
• Borrowings
• Loans disbursed
Key Management Control over the Company Activities • Unused loan facilities
• Customer savings
• Unused loan facilities
Control through the Government of the
Perum BULOG • Letters of Credit
Republic of Indonesia
• Loans disbursed
Control through the Government of the
Perum Perumnas • Bank guarantee issued
Republic of Indonesia
• Bank guarantee issued
Control through the Government of the
Perum Peruri • Letter of Credit
Republic of Indonesia
• Unused loan facilities
• Securities it owns
• Bank guarantee issued
Control through the Government of the • Letter of Credit
PT Adhi Karya (Persero) Tbk
Republic of Indonesia • Loans disbursed
• Acceptance Bill
• Export bills and other bills
Control through the Government of the
PT Asabri (Persero) • Securities issued
Republic of Indonesia
• Customer Savings
PT Asuransi Tripakarta Based on Ownership and/or Management
• Bank guarantee issued
• Bank guarantee issued
Control through the Government of the
PT Aviasi Pariwisata Indonesia (Persero) • Loans disbursed
Republic of Indonesia
• Unused loan facilities
• Securities it owns
PT Bahana Pembinaan Usaha Indonesia Control through the Government of the • Securities issued
(Persero) Republic of Indonesia • Bank guarantee issued
• Loans disbursed
• Subordinated Securities
• Securities it owns
• Securities issued
• Unused loan facilities
• Bank guarantee issued
Control through the Government of the • Borrowings
PT Bank Mandiri (Persero) Tbk
Republic of Indonesia • Derivative Liabilities
• Placement with another bank
• Loans disbursed
• Acceptance Bill
• Derivative Bills
• Export bills and other bills
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Disclosure of Affiliated/Related Parties
Related Parties Nature of Relationship Nature of the Transaction
• Securities it owns
• Securities issued
• Unused loan facilities
• Bank guarantee issued
• Current accounts with other banks
Control through the Government of the • Borrowings
PT Bank Rakyat Indonesia (Persero) Tbk
Republic of Indonesia • Derivative Liabilities
• Placement with another bank
• Loans disbursed
• Acceptance Bill
• Derivative Bills
• Export bills and other bills
• Securities it owns
• Borrowings
Control through the Government of the • Acceptance Bill
PT Bank Tabungan Negara (Persero) Tbk
Republic of Indonesia • Current accounts with other banks
• Placement with another bank
• Unused loan facilities
Control through the Government of the • Bank guarantee issued
PT Barata Indonesia (Persero)
Republic of Indonesia • Unused loan facilities
Control through the Government of the • Bank guarantee issued
PT Bio Farma (Persero) • Letter of Credit
Republic of Indonesia • Loans disbursed
Control through the Government of the • Bank guarantee issued
PT Biro Klasifikasi Indonesia (Persero)
Republic of Indonesia • Borrowings
• Unused loan facilities
Control through the Government of the • Bank guarantee issued
PT Brantas Abipraya (Persero) • Letter of Credit
Republic of Indonesia • Acceptance Bill
• Export bills and other bills
• Securities it owns
• Securities issued
• Unused loan facilities
Control through the Government of the • Bank guarantee issued
PT Danareksa (Persero) • Letters of Credit
Republic of Indonesia • Borrowings
• Loans disbursed
• Acceptance Bill
• Export bills and other bills
Control through the Government of the
PT Djakarta Lloyd (Persero) • Bank guarantee issued
Republic of Indonesia
Control through the Government of the • Investment in Associated Entity &
PT Fintek Karya Nusantara
Republic of Indonesia Equity Investments
Control through the Government of the • Bank guarantee issued
PT Garuda Indonesia (Persero) • Loans disbursed
Republic of Indonesia • Unused loan facilities
• Securities it owns
• Unused loan facilities
Control through the Government of the • Bank guarantee issued
PT Hutama Karya (Persero) • Letters of Credit
Republic of Indonesia • Loans disbursed
• Acceptance Bill
• Export bills and other bills
• Securities it owns
Control through the Government of the • Unused loan facilities
PT Indonesia Asahan Aluminium (Persero) • Bank guarantee issued
Republic of Indonesia • Borrowings
• Loans disbursed
Control through the Government of the
PT Indra Karya (Persero) • Bank guarantee issued
Republic of Indonesia
Control through the Government of the • Bank guarantee issued
PT Industri Kereta Api (Persero)
Republic of Indonesia • Loans disbursed
• Securities it owns
Control through the Government of the • Loans disbursed
PT Jasa Marga (Persero) Tbk
Republic of Indonesia • Bank guarantee issued
• Unused loan facilities
• Securities it owns
• Bank guarantee issued
Control through the Government of the
PT Kereta Api Indonesia (Persero) • Letters of Credit
Republic of Indonesia
• Loans disbursed
• Unused loan facilities
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 361
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Disclosure of Affiliated/Related Parties
Related Parties Nature of Relationship Nature of the Transaction
• Unused loan facilities
• Bank guarantee issued
Control through the Government of the
PT Krakatau Steel (Persero) • Letters of Credit
Republic of Indonesia
• Loans disbursed
• Export bills and other bills
• Unused loan facilities
• Bank guarantee issued
Control through the Government of the
PT Len Industri (Persero) • Letters of Credit
Republic of Indonesia
• Loans disbursed
• Acceptance Bill
• Securities it owns
Control through the Government of the • Bank guarantee issued
PT Pelabuhan Indonesia (Persero)
Republic of Indonesia • Loans disbursed
• Unused loan facilities
Control through the Government of the • Unused loan facilities
PT Pelayaran Nasional Indonesia (Persero)
Republic of Indonesia • Bank guarantee issued
• Securities it owns
• Unused loan facilities
Control through the Government of the • Bank guarantee issued
PT Pembangunan Perumahan (Persero) Tbk
Republic of Indonesia • Letters of Credit
• Acceptance Bill
• Loans disbursed
PT Pengembangan Pariwisata Indonesia Control through the Government of the
• Bank guarantee issued
(Persero) Republic of Indonesia
Control through the Government of the • Unused loan facilities
PT Perkebunan Nusantara III (Persero)
Republic of Indonesia • Loans disbursed
• Securities it owns
• Securities issued
• Bank guarantee issued
Control through the Government of the
PT Pertamina (Persero) • Letters of Credit
Republic of Indonesia
• Derivative Liabilities
• Loans disbursed
• Unused loan facilities
• Securities it owns
• Unused loan facilities
• Bank guarantee issued
Control through the Government of the
PT PLN (Persero) • Letters of Credit
Republic of Indonesia
• Derivative Liabilities
• Loans disbursed
• Derivative Bills
• Bank guarantee issued
Control through the Government of the
PT Pos Indonesia (Persero) • Loans disbursed
Republic of Indonesia
• Unused loan facilities
Control through the Government of the
PT Primissima (Persero) • Bank guarantee issued
Republic of Indonesia
• Securities it owns
• Unused loan facilities
• Bank guarantee issued
Control through the Government of the • Letter of Credit
PT Pupuk Indonesia (Persero)
Republic of Indonesia • Derivative Bills
• Derivative Liabilities
• Loans disbursed
• Acceptance Bill
• Unused loan facilities
• Bank guarantee issued
Control through the Government of the
PT Rajawali Nusantara Indonesia (Persero) • Letter of Credit
Republic of Indonesia
• Loans disbursed
• Acceptance Bill
Control through the Government of the
PT Reasuransi Indonesia Utama (Persero) • Securities it owns
Republic of Indonesia
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Disclosure of Affiliated/Related Parties
Related Parties Nature of Relationship Nature of the Transaction
• Securities it owns
• Unused loan facilities
• Bank guarantee issued
Control through the Government of the • Letter of Credit
PT Semen Indonesia (Persero) Tbk
Republic of Indonesia • Acceptances Payables
• Loans disbursed
• Acceptance Bill
• Export bills and other bills
• Securities it owns
• Unused loan facilities
Control through the Government of the • Bank guarantee issued
PT Telkom Indonesia (Persero) Tbk
Republic of Indonesia • Loans disbursed
• Acceptances Payables
• Export bills and other bills
Control through the Government of the • Unused loan facilities
PT Virama Karya (Persero)
Republic of Indonesia • Bank guarantee issued
Control through the Government of the • Bank guarantee issued
PT Waskita Karya (Persero) Tbk
Republic of Indonesia • Loans disbursed
• Bank guarantee issued
• Letter of Credit
Control through the Government of the
PT Wijaya Karya (Persero) Tbk • Loans disbursed
Republic of Indonesia
• Acceptance Bill
• Export bills and other bills
Control through the Government of the
PT Yodya Karya (Persero) • Bank guarantee issued
Republic of Indonesia
Control through the Government of the • Investments in Associated Entities &
PT Bank Syariah Indonesia
Republic of Indonesia Equity Investments
The balances and transactions of each BNI affiliated/related party can be seen in the Consolidated Financial Statements
as of December 31, 2023 note No. 46 Transactions with Related Parties as an integral document of this annual report.
The transactions mentioned above are business activities carried out to generate business income and are carried out
routinely, repeatedly and continuously, as regulated in POJK 42/2020.
Realization of Balances and Related Party Transactions
Realization of Related Parties’ balances and transactions on BNI’s financial performance can be seen as follows.
Realization of Balances and Related Party Transactions in the Period of Financial Year 2022 and 2023
Percentage of Total Increase (Decrease)
Assets 2022-2023
2023 2022
Related Party Balances in Assets Nominal
(IDR-billion) (IDR-billion) 2023 2022 Percentage
(IDR-
(%) (%) (%)
billion)
Current Accounts With Other Banks 52 114 0.0 0.0 (62) (54.4)
Placements With Other Banks 1,211 705 0.1 0.1 506 71.8
Marketable Securities 11,428 7,796 1.1 0.8 3.632 46.6
Securities Purchased Under Resale
- - - - - -
Agreements
Government Bonds 125,021 118,805 11.5 11.5 6.216 5.2
Export Bills and Other Receivables 10,085 10,326 0.9 1.0 (241) (2.3)
Acceptances Receivables 3,159 4,666 0.3 0.5 (1.507) (32.3)
Derivative Receivables 38 4 0.0 0.0 34 850.0
Loans Disbursed 126,359 104,726 11.6 10.2 21.633 20.7
Equity Investment in Associates &
11,661 10,521 1.1 1.0 1.140 10.8
Share Participation
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 363
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Realization of Balances and Related Party Transactions in the Period of Financial Year 2022 and 2023
Percentage of Total Increase (Decrease)
Assets 2022-2023
2023 2022
Related Party Balances in Assets Nominal
(IDR-billion) (IDR-billion) 2023 2022 Percentage
(IDR-
(%) (%) (%)
billion)
Total Assets from Related Parties 289,014 257,663 26.6 25.0 31.351 12.2
Total Assets 1,086,664 1,029,837 56.827 5.5
Asset balances from related parties increased by IDR31.3 trillion or 12.2% compared to the previous year. This increase
was dominated by an increase in the balance of related party loans granted amounting to IDR21.6 trillion.
Percentage of Total Increase (Decrease)
2023 2022 Assets 2022-2023
Related Party Balances in Liabilities (IDR- (IDR- Nominal
2023 2022 Percentage
billion) billion) (IDR-
(%) (%) (%)
billion)
Deposits from Customers 152,080 154,808 16.3 17.4 (2.728) (1.8)
Deposits from other banks 2,705 3,190 0.3 0.4 (485) (15.2)
Securities Issued 1,765 1,785 0.2 0.2 (20) (1.1)
Borrowings 824 233 0.1 0.0 591 253.6
Subordinated Securities 3 28 0.0 0.0 (25) (89.3)
Derivative Liabilities 136 118 0.0 0.0 18 15.3
Acceptances Payables 1,071 989 0.1 0.1 82 8.3
Total Liabilities from Related Parties 158,584 161,151 17.0 18.1 (2.567) (1.6)
Total Liabilities 931,931 889,639 42,292 4.8
Liability balances from related parties decreased by IDR2.6 trillion or 1.6% compared to the previous year. This decrease
was dominated by a decrease in the balance of related party customer deposits amounting to IDR2.7 trillion.
Prohibitions, Restrictions and/or Significant Barriers to Transferring Funds between Banks and Other
Entities in One Business Group
Total Bank Funds Provided to Related Parties up to December 2023
Description Value (IDR-billion)
Total Bank Funds Provided to Related Parties 1,837
Capital 142,016
LLL (10% of Capital) 14,202
Over (Under) LLL (12,365)
Types of Fund Provisions to Related Parties up to December 2023
Related Parties Type Of Provision Of Funds Provision of Funds (IDR-Billion)
PT Bank Syariah Indonesia (Tbk) Documentary Facilities, Acceptance Bill 15
BNI Finance Loans, Corporate Cards, GB 1,498
BNI Life Insurance Loans, Corporate Cards, GB 2
BNI Sekuritas Corporate Card, GB 200
hibank Bank Guarantees 1
Individual Consumer Loans and Credit Cards 121
Total Provision of Funds to Related Parties 1,837
Capital 142,016
LLL (10% of Capital) 14,202
Over (Under) LLL (12,365)
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Changes to Legal
Regulations that significantly
impacted BNI
UU No. 4 of 2023 concerning Development and Strengthening of the Financial Sector
1. The main pillars of Financial Sector Development and Strengthening include:
a. Strengthening financial sector authority institutions while still paying attention to independence.
b. Strengthening governance and increasing public trust.
c. Encouraging the accumulation of long-term financial sector funds for prosperity and support for
sustainable development financing.
d. Consumer protection.
e. Financial sector literacy, inclusion and innovation.
2. Establishing a Financial System Stability Committee to prevent and handle financial system crises for the
benefit and resilience of the economy.
3. Strengthening the authorities, whether Bank Indonesia, FSA, or LPS, in regulating and supervising financial
Explanation of sector activities in accordance with their authority.
Implemented 4. Strengthening the capital market industry by implementing a Carbon Exchange for trading, strengthening
:
Regulations and/or guarantees for closing transactions (Close out netting) in financial markets, managing Trust Funds,
Legislation strengthening Securities Crowdfunding as an alternative source of financing.
5. Strengthening supervision, especially consumer protection, expanding the scope of the financial sector in the
use of technology, strengthening the role of BPR, BPRS, facilitating access for MSMEs and so on.
6. Strengthening the standardization of regulations and supervision of financial instruments by complying with
the good corporate governance principles, prudential principles and effective risk management, fulfilling the
security, efficiency and reliability principles.
7. Regulating the Bullion service business under the supervision of FSA. Also regulating the receipt of Export
Proceeds Foreign Exchange (DHE) by LPEI, as well as regulating tax incentives in the financial sector.
8. Strengthening literacy, inclusion and innovation in the financial sector as well as strengthening and
developing the number and quality of human/professional resources in the financial sector.
9. Banks are required to submit financial reports and other reports within the time and form determined by FSA.
BNI is obliged to submit financial reports and other reports to FSA in a timely manner in accordance with
Impact on BNI : the form determined by FSA, and to strengthen consumer protection, as well as financial sector literacy and
inclusion.
POJK No. 3 of 2023 concerning Increasing Financial Literacy and Inclusion in the Financial Services Sector for Consumers and the
Community
1. Increasing Financial Literacy and Inclusion activities that must be carried out by Banks as PUJK at least 1
(one) time in 1 (one) semester.
2. Strengthening supervision to fulfill consumer and community protection aspects to increase Financial
Literacy and Inclusion.
3. Increasing the quantity of Financial Literacy and Inclusion activities, by optimizing the role of PUJK in
Explanation of increasing Financial Literacy and Inclusion and limiting cooperation with a maximum of 3 (three) other
Implemented PUJKs in organizing activities to increase Financial Literacy;
:
Regulations and/or 4. Bank’s obligation to have written guidelines regarding activities to increase Financial Literacy and
Legislation Inclusion.
5. Imposition of administrative sanctions in the form of written warnings, fines, and/or prohibitions as the
main party in accordance with the Reassessment POJK for the main party in the LJK.
6. PUJK is obliged to prepare and submit:
a. Financial Literacy Report; And
b. Financial Inclusion Report, to FSA as part of the business plan and business plan realization report.
BNI is required to develop programs and carry out activities to increase Financial Literacy and Inclusion for
Impact on BNI : consumers and/or the public as well as prepare a Financial Literacy and Inclusion Report for FSA as part of
the RBB and RBB Realization Report.
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POJK No. 8 of 2023 concerning Implementation of Anti-Money Laundering Programs, Prevention of Terrorism Financing, and
Prevention of Funding for the Proliferation of Weapons of Mass Destruction in the Financial Services Sector
1. Bank Obligation in Preventing Funding for the Proliferation of Weapons of Mass Destruction (PPPSPM).
2. Banks are required to periodically submit Individual Risk Assessments to FSA and submit data for
supervisory needs.
3. Banks are required to:
a. Carry out assessments, policies and procedures, PPPSPM risk mitigation, Suspicious Financial
Transaction Reports (LTKM), and attempted transactions related to PPPSPM.
b. Monitor policies, supervision and procedures for managing and mitigating TPPU, TPPT and/or
Explanation of PPPSPM risks, as well as evaluating their implementation.
Implemented 4. The definition of Politically Exposed Person (PEP) only covers high levels and is not intended for middle
:
Regulations and/or or lower levels.
Legislation 5. Bank obligation to carry out pre-employee screening, for both permanent and non-permanent
employees, starting from the lowest level up to 1 (one) level below the Board of Directors and Board of
Commissioners.
6. Carry out proportional and adequate EDD and countermeasures for risks, business relationships,
transactions, prospective customers, WIC, and/or customers originating from High Risk Countries
published by the FATF.
7. PJK is obliged to submit a report to FSA concerning policies and procedures for implementing the APU,
PPT and PPPSPM programs no later than 6 (six) months after the POJK comes into force.
BNI is required to submit reports to the FSA concerning policies and procedures for implementing the APU,
Impact on BNI :
PPT and PPPSPM programs.
PBI No. 3 of 2023 concerning Bank Indonesia Consumer Protection, and PADG No. 20 of 2023 concerning Procedures for
Implementing Bank Indonesia Consumer Protection.
1. Consumer protection includes all efforts to ensure legal certainty to provide protection to consumers.
2. Strengthening consumer protection principles for consumers of banks regulated and supervised by Bank
Indonesia.
3. Consumer Protection Principles include:
a. equality and fair treatment;
b. openness and transparency;
c. education and literacy;
d. responsible business conduct;
e. protection of Consumer assets against misuse;
Explanation of f. protection of Consumer data and/or information;
Implemented g. effective complaint handling and resolution; and
:
Regulations and/or h. enforcement of compliance.
Legislation 4. Adding the principle of Compliance Enforcement to the principle of Consumer Protection.
5. Complaints to be submitted to Bank Indonesia with the following provisions:
a. The Consumer has submitted a complaint to the Organizer but there is no agreement between the
Consumer and the Organizer;
b. The matter complained about is a civil matter that has never been processed by a court, dispute
resolution institution or body, or other competent authority; and
c. Consumers experience potential financial losses incurred by the Operator with a certain value determined
by Bank Indonesia.
6. Prohibition of Banks as Organizers from making and using Standard Agreements that contain Standard
clauses, the provisions of which are regulated in this Regulation.
BNI adjusts its agreements, carries out educational functions for consumers and employees, establishes
Impact on BNI : units/functions to implement consumer protection provisions, and applies consumer protection principles in
all banking product and service activities.
PBI No. 6 of 2023 concerning Money Markets and Foreign Exchange Markets
1. Banks have obligations for:
a. Registration of Treasury Dealers who carry out treasury activities with Bank Indonesia.
b. Submission of reports regarding violations of the market Code of Ethics.
Explanation of 2. Issuance of Money Market instruments, Money Market transactions and Foreign Exchange Market
Implemented transactions can be made digitally.
:
Regulations and/or 3. Use of smart contracts in Money Market and Foreign Exchange Market transactions.
Legislation 4. Prohibiting the use of Financial Sector Supporting Professionals in the Money and Forex Markets, and
Treasury Dealers who are not registered with Bank Indonesia.
5. The Bank is responsible for developing the quality of human resources in the Money Market and Foreign
Exchange Market by increasing competency and expertise.
BNI is required to register Treasury Dealers who carry out Treasury activities with BI and develop the quality
Impact on BNI :
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POJK No. 9 of 2023 concerning the Use of Public Accounting Services and Public Accounting Firms in Financial Services Activities,
and SEOJK No. 18/SEOJK.03/2023 concerning Procedures for Using the Services of Public Accountants and Public Accounting
Firms in Financial Services Activities
1. Banks are required to use AP and KAP that:
a. are registered with the Financial Services Authority (FSA);
b. are recorded in the list of active APs and KAPs at the FSA;
c. have competence in accordance with the complexity of the Party’s business.
2. The GMS is required to approve the appointment of AP and/or KAP who will provide audit services for
annual historical financial information by considering the proposals of the board of commissioners,
supervisory board, or parties who carry out supervisory functions as carried out by the board of
commissioners.
Explanation of 3. BNI is required to limit the use of audit services for annual historical financial information from the same
Implemented
: AP for 7 (seven) cumulative years (accumulated since the 2017 fiscal year).
Regulations and/or
Legislation 4. Obligation to submit periodic reports every year to FSA concerning:
a. appointment of AP and KAP for audit of annual historical financial information by attaching
documents:
i) appointment of AP and KAP accompanied by recommendations from the Audit Committee and
considerations used in providing recommendations; and
ii) the results of the self-assessment are received from the KAP no later than 10 (ten) working days
after the work agreement between the Party and the KAP is signed; and
b. realization of the use of AP and KAP services, no later than 6 (six) months after the last fiscal year,
online through the FSA reporting system.
BNI is obliged to limit the use of audit services for annual historical financial information from the same AP
Impact on BNI :
for 7 (seven) cumulative years.
PBI No. 7 of 2023 concerning Foreign Exchange Proceeds from Exports and Foreign Exchange Payments for Imports, and PADG No.
4 of 2023 concerning Foreign Exchange Proceeds from Exports and Foreign Exchange Payments for Imports
1. Obligation of Natural Resources (SDA) Exporters who have DHE from SDA Exports with an export value
of at least USD250,000.00 (two hundred and fifty thousand United States dollars) or its equivalent to
enter the DHE into the DHE SDA Special Account (Reksus) at LPEI and/or Bank.
2. DHE SDA for exports with an export value on the Export Customs Notification (PPE) of less than USD
250,000.00 (two hundred and fifty thousand United States dollars) or its equivalent is still required to
be included in the Indonesian Financial System (SKI), but is not required to place at least 30% for a
Explanation of minimum of 3 months.
Implemented 3. DHE SDA for exports with an export value of PPE of less than USD250,000.00 or its equivalent can be
:
Regulations and/or included voluntarily in Reksus.
Legislation 4. Banks obligation to ensure the placement of DHE SDA Funds and special markings on the instruments in
the form of:
a. Banking instruments;
b. Deposit terms for conventional open market operations in foreign currency at BI; and/or
c. Other instruments issued by BI.
5. Banks are required to submit information and reports concerning the entry and placement of DHE
completely, correctly and on time to BI.
BNI is obliged to submit information on fund placement in banking instruments and reports regarding DHE
Impact on BNI :
income and placement to BI completely, correctly and on time.
PADG No. 5 of 2023 concerning the Second Amendment to PADG No. 21/28/PADG/2019 concerning Monitoring of Bank and
Customer Foreign Exchange Traffic Activities
1. Adjustment of provisions concerning the method of reporting LLD transactions up to USD10,000.00
which can be done jointly.
Explanation of 2. Exceptions for submitting reports are carried out on a combined basis for export-related transactions
Implemented carried out up to the nominal threshold.
:
Regulations and/or 3. The scope of the report, report format, and procedures for submitting the report refer to the technical
Legislation instructions for reporting LLD activities by the Bank.
4. Banks must verify the data and information obtained from Customers to ensure the accuracy of the LLD
Report.
Impact on BNI : BNI must verify the data and information obtained from Customers to ensure the accuracy of the LLD Report.
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POJK No. 14 of 2023 concerning Carbon Trading Through the Carbon Exchange, and SEOJK No. 12/SEOJK.04/2023 concerning
Procedures for Organizing Carbon Trading Through the Carbon Exchange
1. FSA regulates, permits, supervises, and develops Carbon Trading through the Carbon Exchange.
Explanation of 2. Carbon Units are securities traded on the Carbon exchange.
Implemented 3. Carbon Units to be transacted through the carbon exchange must first be registered with the National
:
Regulations and/or Registry System for Climate Change Control (SRN PPI) and the carbon exchange organizer.
Legislation 4. Carbon Units traded at the Carbon Exchange Organizer consist of Technical Approval of Upper Emission
Limits for Businesses (PTBAE-PU); and GHG Emission Reduction Certificate (SPE-GRK).
BNI is obliged to pay attention to the provisions related to carbon trading through the carbon exchange when
Impact on BNI :
carrying out carbon trading transactions.
POJK No. 15 of 2023 concerning the Implementation of Administrative Services on Know Your Customer Principles
1. Know Your Customer Principles Administration Services (LAPMN) is a centralized data and document
storage service for prospective customers and/or customers of LAPMN that can be used to support the
customer due diligence and/or enhanced due diligence activities by LAPMN users.
2. LAPMN administers data and documents of prospective customers and/or customers in a centralized
manner in implementing CDD and/or EDD to support supervisory activities in the capital market and
simplify the process of opening customer accounts and updating customer data for several LAPMN
Explanation of users.
Implemented 3. LAPMN implementation is carried out with the following provisions:
:
Regulations and/or a. LAPMN implementation is not a CDD and/or EDD activity;
Legislation b. LAPMN implementation is carried out on static data for the purpose of identifying prospective
LAPMN User Customers, excluding risk profile assessment data;
c. LAPMN Operators are not the Party responsible for the CDD and/or EDD processes carried out by
LAPMN Users; and
d. LAPMN implementation is carried out with the approval of Prospective Customers and/or LAPMN
User Customers for CDD and/or EDD data and documents to be used by the LAPMN Operator in
accordance with their functions and duties.
Impact on BNI : BNI is obliged to pay attention to the LAPMN provisions when using the services of LAPMN Operators.
SEOJK No. 13/SEOJK.04/2023 concerning the Buyback of Public Company Shares as a Result of the Cancellation of Securities
Listing by the Stock Exchange due to Conditions or Events that Have a Significant Negative Impact on Business Continuity
1. The share buybacks must begin with the delivery of information disclosure to the public, no later than 30
(thirty) days after the Stock Exchange’s announcement to the public regarding the decision to cancel the
listing.
Explanation of 2. Repurchases can be carried out after the date of disclosure of the information, and can be completed no
Implemented
: later than the cancellation of the listing becomes effective or 6 (six) months after the date of disclosure of
Regulations and/or
Legislation the information in question.
3. Public Companies whose securities listing has been canceled by the Stock Exchange are required to start
changing their status from a Public Company to a closed Company no later than 30 (thirty) days after the
effective date of the decision to cancel the securities listing.
BNI is obliged to pay attention to the provisions concerning share buybacks and the changes in status from
a Public Company to a closed company as a result of the cancellation of securities listings by the Stock
Exchange due to significant conditions or events that have a negative impact on business continuity, as well
Impact on BNI :
as the authority of FSA in determining certain action orders and written orders in the event that the Public
Company does not disclose information and/or buy back shares and implement a change in status from a
Public Company to a closed company.
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PADG No. 10 of 2023 concerning the Sixth Amendment to PADG No. 21/22/PADG/2019 concerning Macroprudential
Intermediation Ratios and Macroprudential Liquidity Buffers for Conventional Commercial Banks, Sharia Commercial Banks and
Sharia Business Units
1. Issuance of Bank Indonesia Rupiah Securities (SRBI) as an effort to strengthen the Monetary Operations,
which are integrated with the development of Money and Forex Markets.
2. SRBI is taken into account in fulfilling the macroprudential liquidity buffer (PLM).
Explanation of 3. Fulfillment of PLM for BUK resulting from a merger or consolidation uses the combined data of the BUK
Implemented carrying out the merger or consolidation until the BUK data resulting from the merger or consolidation is
:
Regulations and/or available. Combined securities data for PLM fulfillment consists of:
Legislation a. for BUK, data on account balances of SBI, SDBI, SRBI, SukBI, and/or SBN BUK as a result of merger
or consolidation; and
b. for BUK that have UUS, data on account balances of SBI, SBIS, SDBI, SRBI, SukBI, and/or SBN
resulting from mergers or consolidations.
BNI is obliged to make adjustments in terms of issuing SRBI as one of the securities taken into account in
Impact on BNI :
fulfilling the PLM.
POJK No. 17 of 2023 concerning Governance Implementation in Commercial Banks
1. Harmonization of regulations as a mandate from Law No. 4 of 2023 concerning Development and
Strengthening of the Financial Sector.
2. Banks are required to have internal procedures for Good Governance implementation at the Bank when
carrying out business activities.
3. The Bank’s Good Governance Implementation principles should at least include transparency,
accountability, responsibility, independence and fairness, and should be realized in the duties,
responsibilities and authority of the Board of Directors and Board of Commissioners, the completeness
and implementation of committee duties, handling conflicts of interest, application of the compliance
function, application of the internal audit function, application of the external audit function, application
of risk management, provision of remuneration, provision of funds to related parties and provision of
Explanation of large funds, integrity of reporting and information technology systems, Bank strategic plans, shareholder
Implemented aspects, anti-fraud strategies, sustainable finance, and governance within the bank business group.
:
Regulations and/or 4. The Bank’s obligation to implement appropriate and effective risk management and internal control
Legislation systems has an early warning system for risks that periodically evaluates the risk management.
5. The Bank’s obligation to ensure the implementation of anti-money laundering programs, preventing
the financing of terrorism, and preventing funding for the proliferation of weapons of mass destruction,
including preventing and handling so that the Bank’s business activities are not utilized in activities
related to criminal acts.
6. The Board of Directors and Board of Commissioners obligation to ensure that risk management includes
country risk and transfer risk.
7. The Bank’s obligation to implement governance when providing remuneration and to have a
remuneration policy.
8. The Bank’s obligation to prepare and submit strategic plans (business plans and corporate plans) and
recovery action plans, as well as implement these plans.
BNI is required to have internal procedures concerning Good Governance implementation at the Bank
when carrying out business activities, implementing risk management, an appropriate and effective internal
Impact on BNI :
control system, an early warning system for risks, and implementation of the risk management evaluation
periodically.
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PBI No. 11 of 2023 concerning Macropudential Liquidity Incentive Policy and PADG No. 11 of 2023 concerning Regulations for
Implementing Macroprudential Liquidity Incentive Policies
1. The Macroprudential Liquidity Incentive Policy (KLM) is an incentive determined by Bank Indonesia
through a reduction in bank demand deposits at Bank Indonesia to fulfill the average MSR which must
be met.
2. Additional criteria for BI granting KLM to issuing banks:
Explanation of a. Loans or Financing to UMi (Ultra Micro Business) with a total ceiling per debtor or customer of a
Implemented maximum of IDR20,000,000.00 (twenty million rupiah).
:
Regulations and/or b. Environmentally friendly loans or financing.
Legislation 3. The amount of KLM that can be given has been set at a maximum of 4% with the following details:
a. Loans or financing to certain sectors is a maximum of 2% (two percent);
b. Inclusive Loans or Financing based on the highest RPIM achievement of 1% (one percent);
c. Loans or financing to UMi is a maximum of 0.5% (zero point five percent);
d. Environmentally friendly loans or financing at a maximum of 0.5% (zero point five percent);
Impact on BNI : BNI is obliged to pay attention to the KLM.
PBI No. 12 of 2023 concerning Issuance of Money Market Instruments and Money Market Transactions
1. Money Market regulation, development and supervision includes:
a. Money Market Products (instrument issuance, transaction time, settlement, currency);
b. Money Market Transactions;
c. Reference Pricing that can be used in the Issuance of Money Market Instruments, Money Market
Transactions, issuance of financial instruments, and/or transactions in other financial markets,
d. Market Players related to the Issuance of Money Market Instruments and/or Money Market Transactions;
and
e. Financial Market Infrastructure used in the Issuance of Money Market Instruments and/or Money Market
Transactions.
2. Forms of Money Market Instruments include:
Explanation of a. promissory note;
Implemented
: b. payment order;
Regulations and/or
Legislation c. debt securities; or
d. other short-term securities determined by Bank Indonesia.
3. Types of Money Market Transactions include:
a. trading financial instruments on the Money Market;
b. money lending or funding transactions other than loans;
c. repo transactions (repurchase agreements);
d. derivative transactions in the Money Market; and
e. other transactions that meet the characteristics of the Money Market.
4. Money Market Transaction Players must implement a code of ethics and implement treasury certification
in accordance with Bank Indonesia regulations concerning strengthening the quality of players and
implementing a self-regulatory organization in the Money Market and foreign exchange markets.
BNI must implement a code of ethics and treasury certification in accordance with Bank Indonesia
Impact on BNI :
regulations.
PADG No. 12 of 2023 concerning the Second Amendment to PADG No. 24/8/PADG/2022 concerning Implementing Regulations
for Fulfilling the Mandatory Minimum Reserves in Rupiah and Foreign Currency for Conventional Commercial Banks, Sharia
Commercial Banks and Sharia Business Units
Explanation of 1. Adjustment of the specific amount to fulfill Rupiah MSR obligations by 9% with details of the maximum
Implemented Macroprudential Liquidity Incentive Policy (KLM) amount being 4% and the amount of MSR that receives
:
Regulations and/or
remuneration of 5% - 7%.
Legislation
BNI is obliged to adjust the amount of MSR fulfillment in rupiah and foreign currency according to the
Impact on BNI :
amount of KLM obtained.
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PADG No. 13 of 2023 concerning Strengthening the Quality of Players and Implementing a Self Regulatory Organization in the
Money Market and Foreign Exchange Market
1. Obligation to register Treasury Dealers with Bank Indonesia.
2. Prohibition on the use of Treasury Dealers in the Money Market and Foreign Exchange Market who are
not registered with Bank Indonesia.
Explanation of 3. Strengthening the quality of players in the form of implementing the market code of ethics with the
Implemented :
establishment of internal procedures to comply with the market code of ethics.
Regulations and/or
Legislation 4. Obligation of the Bank to be registered as a member of the Self-Regulatory Organization (SRO).
5. Banks are required to submit reports on the termination of treasury dealers who violate the market code
of conduct to BI.
Impact on BNI : BNI is required to register as a Treasury Dealer at Bank Indonesia and as an SRO member.
POJK No. 18 of 2023 concerning Issuance and Requirements for Debt Securities and Sukuk Based on Sustainability
1. BNI as an issuer is obliged to follow the provisions of laws and regulations in the capital markets sector
concerning:
a. Registration Statement;
b. Public Offering of Debt Securities and/or Sukuk; and
c. Other related regulations, unless specifically regulated in the POJK.
Explanation of 2. Issuance of Environmental EBUS, Social EBUS, Sustainability EBUS, and/or Waqf Sukuk must fulfill 4 (four)
Implemented
: main components, including:
Regulations and/or
Legislation a. use of proceeds from the issuance;
b. evaluation process and selection of activities funded from publication proceeds;
c. management of funds from the issuance; and
d. reporting.
3. Obligation to report on the issuance of Environmental EBUS, Social EBUS, and/or sustainable EBUS, issuance
of Wakaf Sukuk, and reports on the achievement of the determined Sustainability IKU and TKK, to FSA.
BNI to report in the event that BNI issues Environmental EBUS, Social EBUS, Sustainability EBUS, and/or
Impact on BNI :
Wakaf Sukuk.
POJK No. 22 of 2023 concerning Consumer and Public Protection in the Financial Services Sector
1. Addition of adequate educational principles to enforce compliance and fair competition in the consumer
protection principles.
2. Alignment of provisions with the mandate of Law No. 4 of 2023 concerning Development and
Strengthening of the Financial Sector concerning supervision of PUJK behavior, financial literacy and
inclusion, eradication of business activities in the financial sector that do not have permission from the
Financial Services Authority or competent authority, consumer rights and obligations, as well as rights,
Explanation of obligations and prohibitions for PUJK.
Implemented 3. Addition to the scope of PUJK, which is the authority of the FSA in carrying out supervision, in this case
:
Regulations and/or Financial Sector Technology Innovation (ITSK), Crypto Asset Trading Companies, and Cooperatives that
Legislation carry out activities in the financial services sector.
4. Strengthening aspects of consumer protection in collection activities and taking over or withdrawing
loans or financing product collateral by PUJK.
5. Strengthening aspects of complaint services, consumer services by FSA, as well as consumer rights and
obligations.
6. Strengthening support for consumers and/or people with disabilities and the elderly, increasing efforts to
protect consumer data/information.
BNI adjusts agreements, carries out educational functions for consumers and employees, establishes units/
Impact on BNI : functions to implement consumer protection provisions, and applies consumer protection principles in every
banking product and service activity.
SEOJK No. 16/SEOJK.03/2023 concerning Capital Calculations for Bank Exposure to Central Counterparty Institutions
1. Capital calculations for bank exposure to CCP includes:
a. Over-the-counter (OTC) derivatives;
b. Exchange traded derivatives;
Explanation of c. Long settlement transactions;
Implemented
: d. Securities financing transactions (SFT);
Regulations and/or
those with credit risk need to be taken into account in the bank’s minimum capital requirement.
Legislation
2. The Bank’s exposure to CCP is excluded if cash and/or financial instruments (such as shares, exchange
rate spot, or commodity spot) fail on the (settlement date), and are categorized as a default fund
contribution.
BNI is required to calculate exposure related to transactions with CCP as well as calculate the Bank’s
Impact on BNI :
Minimum Capital Requirement.
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PADG No. 14 of 2023 concerning Primary Dealer Monetary Operations
1. The primary dealers must be active in OPT transactions, be a market maker, submit reports, market
analysis and other information, safeguard the interests and good name of Bank Indonesia, and comply
with statutory provisions that may affect the effectiveness of the role as a primary dealer.
2. The criteria for Open Market Operation (OPT) participants to be appointed as primary dealers meet the
following aspects:
Explanation of a. Contribution, including transaction capacity (size), interconnectedness, complexity and
Implemented
: substitutability.
Regulations and/or
Legislation b. Capability, including a minimum of KBMI 2, has a composite rating of a certain level of Bank Health
and Bank liquidity adequacy.
c. Collaboration and reputation, including having a good reputation in supporting BI policies and
participation in monetary, payment system and macroprudential policies to support the achievement
of BI’s tasks.
3. Bank submits application for appointment of primary dealers to Bank Indonesia.
BNI is obliged to pay attention to the provisions related to the criteria for OPT participants to become primary
Impact on BNI :
dealers.
PBI No. 13 of 2023 concerning the Second Amendment to PBI No. 22/14/PBI/2020 concerning Monetary Operations
1. Bank Indonesia Foreign Currency Securities (SVBI) are securities in foreign currency issued by Bank
Indonesia as recognition of short-term debt using an underlying asset in the form of security in foreign
Explanation of currency belonging to Bank Indonesia.
Implemented 2. Bank Indonesia Foreign Currency Sukuk (SUVBI) is sukuk in foreign currency issued by Bank Indonesia
:
Regulations and/or using underlying assets in the form of securities in foreign currency based on sharia principles owned
Legislation by Bank Indonesia.
3. Development of Open Market Operation (OPT) instruments through the issuance of SVBI and SUVBI.
4. Banks are required to fulfill their obligations to provide funds for the settlement of OPT transactions.
Impact on BNI : BNI is obliged to fulfill its obligation to provide funds in order to complete OPT transactions.
PADG No. 17 of 2023 concerning Implementation of BI-Fast Payment
1. Individual Credit Transfer (ICT) is a service in BI-FAST that processes the transfer of funds from 1 (one)
sending customer to 1 (one) receiving customer.
2. Request for Payment (RFP) is a service in BI-FAST that processes the transfer of funds from 1 (one)
paying customer to 1 (one) payment receiving customer, preceded by payment request information from
the payment receiving customer to the paying customer.
Explanation of 3. Bulk Credit Transfer (BCT) is a service in BI-FAST that processes the transfer of funds from 1 (one)
Implemented sending customer to several receiving customers or several sending customers to 1 (one) receiving
:
Regulations and/or customer.
Legislation 4. Direct Debit Transfer, hereinafter referred to as DDT Service, is a service in BI-FAST that processes
collection of funds from 1 (one) biller to 1 (one) billing customer.
5. Added regulations for 3 (three) new services, namely RFP, BCT, DDT.
6. Adjustments to BI-FAST policies including providing alternative infrastructure and increasing aspects of
consumer protection.
7. Arrangement of processing, validation, orders and settlement for BI-Fast services.
BNI is obliged to pay attention to BI regulations concerning BI-Fast Payments in terms of adding RFP, BCT
Impact on BNI :
and DDT services and making adjustments to BI-Fast implementation policies.
PADG No. 18 of 2023 concerning the Seventh Amendment to PADG No. 21/22/PADG/2019 concerning Macroprudential
Intermediation Ratios and Macroprudential Liquidity Buffers for Conventional Commercial Banks, Sharia Commercial Banks and
Sharia Business Units
1. The amount of the Liquidity Buffer (PLM) obligation has become 5% (five percent) from the previous 6%
Explanation of (six percent) of BUK TPF in rupiah.
Implemented 2. PLM is fulfilled in the form of securities in rupiah owned by BUK and can be used in monetary
:
Regulations and/or operations.
Legislation 3. Securities can be used in repo transactions and liquidity management transactions based on Bank
Indonesia sharia principles (PaSBI transactions) to Bank Indonesia in open market operations.
Impact on BNI : BNI is required to fulfill PLM of 5% of BUK TPF in Rupiah.
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BUMN Ministerial Regulation No. PER-1/MBU/03/2023 concerning Special Assignments and Social and Environmental
Responsibility Programs for State-Owned Enterprises
1. SOEs can receive Special Assignments from the Central Government in order to carry out public benefit
functions as well as national research and innovation.
Explanation of 2. The Board of Directors implements the SOE’s SER Program in accordance with the RKAP, approved by the
Implemented
: GMS/Minister.
Regulations and/or
Legislation 3. The Board of Directors prepares and determines SOPs for implementing the SOE’s SER Program by
referring to this Ministerial Regulation and taking into account the characteristics of each SOE.
4. The Board of Directors is fully responsible for implementing the SOE’s SER Program.
BNI is obliged to prepare, determine SOPs, and take full responsibility for implementing the SOE SER
Impact on BNI :
Program.
BUMN Ministerial Regulation No. PER-2/MBU/03/2023 concerning Guidelines for Governance and Significant Corporate Activities
of State-Owned Enterprises
1. SOEs are obliged to apply the principles of good corporate governance in carrying out business activities
at all levels or levels of the organization.
2. The Board of Directors is obliged to implement good SOE IT Governance.
3. SOEs must implement Risk Management effectively.
Explanation of 4. The Board of Directors is required to establish an effective Internal Control System to safeguard the
Implemented
: company’s investments and assets.
Regulations and/or
Legislation 5. SOE Board of Directors are required to sign an Annual Management Contract containing the KPI targets
for Directors collectively and for Directors individually.
6. To fulfill the provisions on public information disclosure, the Board of Directors is obliged to provide
published annual report information signed by all members of the Board of Directors and the Board of
Commissioners/Supervisory Board.
BNI is required to apply the principles of Good Corporate Governance, effective risk management, and
Impact on BNI : establish an effective internal control system to safeguard company investments and assets and publish the
Annual Report.
BUMN Ministerial Regulation No. PER-3/MBU/03/2023 concerning Organs and Human Resources of State-Owned Enterprises
1. To be appointed as a member of the Board of Directors of an SOE or member of the Board of Directors
of a Subsidiary, a person must meet the material requirements, namely expertise, integrity, leadership,
experience, honesty, good behavior and high dedication to advancing and developing the company.
2. Sources of prospective candidates for the Board of Commissioners/Supervisory Board of SOEs come
from:
a. Former SOE Director;
b. Board of Commissioners/Supervisory Board of SOEs;
Explanation of c. Structural officials and functional government officials; or
Implemented
: d. Other sources.
Regulations and/or
Legislation 3. Succession management is the process of selecting SOE Directors from the Talent Pool of the Ministry of
SOEs, or other sources determined by the Minister.
4. The income of the Board of Directors and Board of Commissioners of Limited Liability Companies is
determined by the GMS.
5. Members of the SOE Board of Directors may be provided with the following facilities:
a. Vehicle facilities;
b. Medical facilities; and
c. Legal aid facilities.
BNI is obliged to fulfill material requirements in the appointment, provision of income and facilities for
Impact on BNI : members of the Board of Directors by referring to the Ministry of SOE Regulation concerning SOE’s Organs
and Human Resources.
PMK No. 136 of 2023 concerning Amendments to Minister of Finance Regulation No. 112/PMK.03/2022 concerning Individual
Taxpayer Identification Numbers, Corporate Taxpayers and Government Agency Taxpayers
1. Changes in the application of NPWP which previously took effect from January 1 2024 to July 1, 2024 for:
Explanation of a. Taxpayers using the National Identification Number (NIK) as NPWP in a 16 (sixteen) digit format,
Implemented b. Non-Resident Individual Taxpayers, Corporate Taxpayers, and Government Agency Taxpayers use a
:
Regulations and/or Taxpayer Identification Number in a 16 (sixteen) digit format.
Legislation c. Taxpayers use the Business Activity Place Identification Number (NITKU) as an identity for the place
of business activity that is separate from the place of residence or domicile;
BNI is required to adjust the National Identification Number (NIK) as a NPWP with a 16 (sixteen) digit format
Impact on BNI :
in the core system and on customer transaction forms starting July 1, 2024.
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Changes in Accounting Policies
and Their Impact on BNI
Amendment to PSAK 1: Presentation of Financial Statements
The Annual Adjustment of PSAK 1 requiring entities to disclose “material
accounting policy information”, previously called “Significant accounting policies”,
and clarifies that not all accounting policy information relating to transactions,
Explanation of Changes in Accounting Policies
: events or other material conditions is material to the financial statements. The
Implemented
amendment to PSAK 1 also provides examples of circumstances where an
entity may consider an accounting policy to be material to the entity’s financial
statements.
As a result of the adaptation of the annual adjustment to PSAK 1, BNI conducted
an assessment to determine the accounting policies to be disclosed in the
financial statements. Disclosure refers to the terminology of “material accounting
policy information” in accordance with the amendment to PSAK 1. Paragraph 117
of the PSAK 1 Amendment that states, Accounting policy information is material
if, when considered with other information contained in the entity’s financial
statements, the policy is expected to affect decisions of the primary users of
Impact on BNI :
financial statements regarding financial statements issued by the entity. For its
implementation, BNI and its subsidiaries made adjustments to accounting policies
in accordance with the PSAK 1 amendment but still referred to the decision of the
Chairman of Bapepam-LK, namely Regulation No. VIII.G.7 concerning Presentation
and Disclosure of Financial Reports of Issuers or Public Companies that regulates
the structure of financial reports of Issuers listed on the Indonesian Stock
Exchange.
Amendment to PSAK 16: Fixed Assets regarding Results Before Intended Use
This amendment clarifies examples of expenses that are directly attributable to
the cost of an asset. This amendment adds provisions for the recognition of sales
Explanation of Changes in Accounting Policies proceeds and acquisition costs for items produced when bringing fixed assets to
:
Implemented the required location and condition in accordance with management’s intentions
in Profit and Loss and measurement of the acquisition costs of these items by
applying the measurement requirements in PSAK 14: Inventory.
This amendment does not have a material impact on BNI and subsidiaries
Impact on BNI :
reporting, or any substantial impact on the accounting policies.
Amendment to PSAK 25: Accounting Policies, Changes in Accounting Estimates and Errors regarding the Definition of Accounting
Estimates
This amendment to PSAK 25 introduces the definition of accounting estimates
and clarifies that estimation techniques and valuation techniques are examples of
Explanation of Changes in Accounting Policies
: measurement techniques used in developing accounting estimates and changes in
Implemented
accounting estimates as a result of new information or new developments that are
not error corrections.
This amendment does not have a significant impact on BNI and its subsidiaries as
Impact on BNI :
BNI’s accounting policies are still relevant to this amendment.
Amendment to PSAK 46: Income Tax Regarding International Tax Reform Provisions of Pillar Two Model
The PSAK 46 amendment provides for a temporary exception to the accounting
treatment of deferred taxes related to international tax reform (Pillar Two Model),
and disclosures thereto to better understand an entity’s exposure to Pillar
Explanation of Changes in Accounting Policies Two income tax. This PSAK 46 amendment proposes that entities calculate
:
Implemented and recognize deferred tax assets or liabilities at the time of initial recognition
of transactions that give rise to assets and liabilities of the same amount, for
example from lease transactions. The aim is to eliminate differences in practice
regarding these or similar transactions.
This amendment does not have a significant impact on BNI and its subsidiaries as
Impact on BNI :
BNI’s accounting policy for deferred taxes is still relevant to this amendment.
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378 Human Capital 395 Information Technology 400 Information Technology Governance 406 Service Digitization 411 Services and Networks 414 BNI Customer Experience Center 417 Data Management and Analytics 419 Service Quality Function
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Human
Capital
HUMAN CAPITAL FRAMEWORK
To realize BNI’s vision of becoming the Most Excellent Financial Institution with Sustainable Service and Performance
requires competent and productive human capital. In human capital management, BNI uses an end-to-end human capital
management framework aligned with the organization’s strategy, called the Integrated Human Capital Framework. The
Integrated Human Capital Framework is used to provide an overview of human capital management and simultaneously
provide added value to all Human Capital processes that employees go through so as to improve the employee experience.
Organization Core Job Family
Competency
Strategic Competency Competency
Input
Modelling Modelling
Job Key
Job Job
Performance
Vision Analysis Evaluation
Indicator
Organization Design & Structure
Employee Value Proposition
Mission
Competency Based Human
Performance Management
Learning & Development
Recruitment & Selection
Human Capital Planning
Work Culture
Reward Management
Capital Management
Career Management
Provide
Termination
Shareholder
Value Through
Increased
People
Productivity
Business
Objective
Corporate Key Industrial
HC Work Safety & Human Capital
Performance Infrastructure
Relation &
Security Evaluation
Communication
Indicator
BNI understands that employees are an integral part of 1. Organization Strategic: Long and short term
the organization in realizing BNI’s Vision and Mission. Organization strategy starting from the vision & mission,
Therefore, employee management needs to be managed business targets and key performance indicators at the
in a structured system that is aligned with the organization’s organizational level.
strategy. organizational strategy, with due observance of 2. Employee Value Proposition: A mutually believed
external provisions, long-term orientation and best practices and agreed upon commitment between BNI and its
in the industry. Broadly speaking, the components in the employees. Currently the EVP at BNI is “Together
Integrated Human Capital Framework include: create the best place to (Learn, Grow, and Contribute
to Indonesia)”.
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3. Work Culture: The values, attitudes and behaviors 7. To ensure that all human capital management runs
expected of employees throughout the organization. well, it needs to be supported by:
4. Organization Design & Structure: Design and a. HC Infrastructure that is integrated with accurate
organizational structure, including a clear division of data and is easily accessible by employees;
functions, duties, responsibilities and authorities so b. Harmonious industrial relations supported by
that each position can carry out its functions optimally effective communication between all relevant
5. Core Competency Modeling, Job Family Competency stakeholders;
Modeling, Competency Input, Job Analysis, Job Key c. Work Safety & Security to ensure work safety and
Performance Indicator & Job Evaluation as a follow- security for all employees so they can carry out
up to organization design to detail the functions and their work well;
competencies needed to carry out these functions well. d. d. Human Capital Evaluation is an embodiment of
6. Competency Based Human Capital Management: the principle of continuous improvement, to ensure
Includes competency-based end-to-end human capital that the human capital management system can
management optimally support the Bank’s strategy achievement.
BNI CULTURAL TRANSFORMATION TO DRIVE BNI’S SUSTAINABLE BUSINESS GROWTH
BNI understands that an important aspect for encouraging sustainable business growth is by having a good corporate
culture in line with the business strategy and operating model. Currently, BNI is carrying out a transformation with the
theme RACE (Risk Culture, Agile, Collaboration, & Execution Oriented) as it was felt that a work culture transformation
was necessary to align and support the ongoing transformation so it can encourage sustainable growth in BNI’s business
performance.
In 2023, BNI launched the BNI Cultural Transformation Management framework, as described below:
Vision
To become the leading financial institution in
Strategy sustainable service and performance
BNI Strategic Objectives 2021-2025
Transformation Theme 2022-2025: RACE
Transformation
Theme 2022-2025:
RACE Risk Culture Agile Collaboration Execution
Orlented
AKHLAK
Core Values
Trustworthy Competent Harmonious Loyal Adaptive Collaborative
We, BNI people, define
We, BNI people, have the best
integrity as an essential We, BNI people, are
competence and character as
value in building trust committed to providing the
a basic attitude in conducting We, BNI people, are always
from all stakeholders, best service to customers
business activities, oriented proactive in innovating and
prioritizing the company’s to grow together and
Beliefs towards achieving superior
interests and carrying out build mutually beneficial
making improvements to
performance to make the generate optimal results.
business activities with the partnership relationships.
company a Market Leader.
principles of Good Corporate
Governance (GCG).
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1. Belief, a hypothesis/assumption/matter that BNI believes to be something good and true, formed by experience and
direct behavior.
2. Core Values, principles that are believed to be important in running the BNI organization, as well as being the identity
and glue of the SOEs Work Culture to support continuous performance improvement
3. Transformation theme, a cultural element that is considered important and needs to be the focus in the BNITransformation
process so that BNI can #LeapHigher.
These three factors are expected to encourage sustainable growth in BNI’s performance so that it can realize BNI’s
strategic objectives and BNI’s vision.
ALIGNMENT OF AKHLAK CORE VALUES AND RACE AS TRANSFORMATION
THEME THROUGH 6 CULTURAL PROGRAMS
To ensure that better behavioral changes occur in accordance with the core values and the transformation theme, 6 BNI
Cultural Programs have been prepared that must be implemented by all work units, as explained below:
“Tiada Keputusan Tanpa Pertimbangan Risiko” Hi Prudent
Risk Culture
"TAKE CARE OF YOURSELF, REMIND YOUR
FRIENDS, TAKE CARE OF BNI" “Weekly Stand Up” Hi Talk
Agile
“AGILE AND ADAPTIVE”
“Proactive” Hi Agile
Collaboration
“COLLABORATE AND OFFER INTEGRATED “Cross Functions Collaboration” Hi Collabs
SOLUTIONS”
“No Pending Item” Hi Action
Execution Oriented
“WORK UNTIL IT'S COMPLETE!”
“Coaching & Mentoring” Hi Coach
INTEGRATED RACE NETWORK TO ENSURE BNI’S CULTURAL
TRANSFORMATION IS INTERNALIZED TO ALL EMPLOYEES
To ensure that Effective internalization of BNI’s Cultural Transformation requires the support of change agents who
can become role models, for this reason the RACE Network team has been formed, which is a network of BNI change
agents tasked with internalizing the transformation of BNI’s Work Culture to all BNI work units and also BNI’s subsidiary
companies. The structure of the BNI RACE Network is as presented in the illustration below:
BoD & Commissioner RACE Sponsor
Culture Team RACE Engine
Director of
Subsidiaries RACE Captain Division Leader RACE Captain Regional Leader RACE Captain
RACE Champion RACE Champion RACE Champion
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Each RACE Network has the following roles:
1. RACE Sponsor: Provide strategic direction regarding BNI CulturalTransformation and make strategic decisions related
to the BNI Cultural Transformation Management Framework.
2. RACE Engine: Develop strategies and plans, as well as short, medium and long term BNI Cultural Transformation
initiatives. As well as monitoring and evaluating the effectiveness of implementing the BNI Cultural Transformation
initiative.
3. RACE Captain: Directs and ensures that the management of Cultural Transformation initiatives in the Work Unit
is effective, encourages consistent implementation of the expected behaviors and the results can be seen from
improvements in the work unit’s performance/work climate.
4. RACE Champion: Coordinate and encourage the involvement of all levels of employees in the Work Unit to implement
the Culture Program and other Cultural Transformation initiatives consistently and effectively.
INCREASING EMPLOYEE PRODUCTIVITY THROUGH PERFORMANCE
CULTURE SUPPORTED BY INTEGRATED DIGITAL INFRASTRUCTURE
The achievement of the Company’s strategy and business certainly depends on the efforts and role of employees
(Hi-Movers) in increasing their productivity. BNI’s performance cycle is a continuous cycle consisting of Goal Setting
to determine intended performance targets, Performance Driving aimed at driving performance achievement, and
Performance Evaluation as a mechanism for evaluating employee performance.
All the BNI performance cycle stages are supported by DigiHC as a digital platform that can be accessed by all employees
via gadgets. Using this application makes it easier for all employees to monitor and manage performance in an integrated
manner.
Goal Setting
Goal Setting
On Going
Daily Planner
Feedback
Performance Reward
Multirater
Evaluation System
Performance Performance
Evaluation Driving
Performance Cycle Performance Boosting with DigiHC
APPRECIATION OF EMPLOYEES WHO HAVE DEMONSTRATED CONSISTENT
PERFORMANCE AND HAVE IMPLEMENTED THE PERFORMANCE CULTURE
THROUGH THE BNI EMPLOYEE EXCELLENCE (BEE) AWARDS
As a form of the highest appreciation from Management to BNI Employees who demonstrated a superior performance,
and who became role models in their respective work units, on May 26 2023 the BNI Excellence Employee (BEE) Awards
was held. In this event, Management presented awards in a number of categories to employees including Relationship
Manager, Service Excellence, Most Progressive Unit, with the culminating event being the awarding of Best Employee
award to 50 (fifty) employees. who consistently provided the best performance for the Company.The awards were directly
given by, and attended by the entire Board of Directors and Board of Commissioners.
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Best Employee Representative Testimonial: Best Employee Representative Testimonial:
Reza Faizal Ginanjar Wulansari
AVP Corporate Card Product Development – Card Business Division Regional Business, Transaction, & Digital Development Department
Head – Regional Office 06
The performance achievements in recent times involved a collaboration I can’t believe it’s been twelve years since I joined the BNI family.
between individuals and an environment and culture that supports
employees to innovate and produce new products and services to With all the experience and learning that I have gained over a period
provide the best service based on customer needs. of more than a decade, I have become able to provide the best
performance to BNI, as proven by my performance assessments over
Employees are also expected to be agile in anticipating technological the last three years.
changes that have an impact on the payment system blueprint, as well
as being active in joint forums with industry, principals, regulators, It is not easy to achieve this, but everything felt reasonable and could
switchers and standards institutions, which will help when initiating be achieved because the climate at BNI is very supportive of every
products or services needed by the Market. employee who wants to continue to grow and develop themselves over
time.
Credit cards, whose existence was initially doubted, have now evolved
into payment tools that can be used by many parties, not only in The BEE Awards for me were a surprise and a gift that I never expected.
the consumer sector but also in the Government sector, or through Being able to stand together with the people who made achievements at
collaboration via digital platforms to encourage B2B2C and B2B2B that time had a tremendous impact on my self-confidence. The spirit to
collaboration. move forward more purposefully and climb to a higher place is getting
stronger in my mind and determination.
The impact of the Company’s appreciation must of course be
indirectly accounted for through consistent actions to provide the best I will express my gratitude and appreciation to BNI management in my
performance in the future. In addition, as one of the RACE Champions, I real work. Effectiveness and productivity will always be maintained and
must be a catalyst to encourage the best performance to be transmitted improved along with new experiences and knowledge gained while
to the closest team or colleagues in the same unit. working at BNI.
I would like to thank BNI management for providing me with the
opportunity for the appreciation to be given. Given this appreciation can
continue to maintain motivation to continue to make improvements or
innovations on an ongoing basis for BNI.
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BNI HUMAN CAPITAL MANAGEMENT ORGANIZATION STRUCTURE
Taking into account the development and growth in BNI’s business, changes in banking business trends, and also future
challenges, BNI requires human capital with the best capabilities to compete in the banking industry both on a national
and global scale. Based on this, a solid Human Capital management is required along with continuous improvements
in Human Capital management practices at BNI.
BNI has a Human Capital management organization that is directly supervised by the Human Capital & Compliance
Director. BNI’s Human Capital management organization consists of the Human Capital Strategy Division with the authority
to determine Human Capital policies, the Human Capital Services Division that plays a role in operationalizing Human
Capital policies, BNI University that is responsible for developing employee capabilities, and HC Business Partner that
functions in carrying out its role as a strategic partner.
BNI Human Capital Management Organization Structure
Direktur Human Capital
& Compliance
Human Capital Human Capital BNI University HC Policy Governance
Compliance Division Legal Division
Strategy Division Services Division Division Business Partner Division
Talent Acquisition Banking Academy 1
HC Policy & Analytics
Department
Department Department
HC Individual
Performance Outsourcing & Partnership Banking Academy 2
Management & Job Department Department
Evaluation Department
Strategy, Governance &
HC Culture & Engagement HC Benefit Services &
Assessment Department
Department Operation Department
HC Career
Management & HC Digital Services
Development Department Learning
Department Consultant
Industrial Relation
HC Talent Management
Department
& Succession Department
Employee
HC Compensation &
Misconduct Department
Benefit Department
EMPLOYEE PROFILE To achieve this, BNI carries out recruitment through several
programs including the Officer Development Program (ODP)
As of December 31, 2023, BNI employed 27,570 people, an and Assistant Development Program (ADP).These programs
increase of 400 people, or 1.5% compared to 27,170 people aim to ensure the availability of talent in accordance with
as of December 31, 2022. This increase was due to BNI’s the Bank’s current business needs, and to ensure the
strategy to strengthen the Information & Technology and availability of talent to become leaders in the future.
Digital sectors so that they can provide the best service
for customers. Fulfilling BNI’s employee requirements is carried out using
several sources, including:
Information on BNI employee profiles can be found in the 1. Campus hiring with universities that are collaborating
Company Profile Chapter in this Annual Report. with BNI at the same time.
2. Participation in the search for Indonesia’s best overseas
IMPLEMENTATION OF THE HUMAN CAPITAL talents by collaborating with agencies that coordinate
MANAGEMENT STRATEGY IN 2023 student and graduate associations overseas, for
example LPDP and theYoung Indonesian’s Professionals
STRATEGICWORKFORCE PLANNING & RECRUITMENT Association (YIPA).
TO GET THE BEST TALENT 3. Early Recruitment Program (ERP), a special recruitment
One of the priorities in human capital management at program by providing scholarships to outstanding
BNI is to ensure the availability of employees in functions students from superior universities to become BNI
that support the achievement of BNI’s business strategies, employee candidates.
and in line these business strategies, this year’s workforce 4. BNI also supports the Ministry of SOEs program by
planning strategy focused on strengthening the corporate participating in the SOE Joint Recruitment Program
& international banking, IT & Digital business as well as (RBB) to fill employee needs in a number of BNI
on increasing CASA and FBI. business units.
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CREATING THE SUSTAINABLE TALENT THROUGH IMPROVING CAREER & TALENT
MANAGEMENT INTEGRATED WITH THE EMPLOYEE DEVELOPMENT
In line with changes to new, more agile and the collaborative ways of working that can be seen from the organizational
transformation at BNI, it is deemed necessary to carry out initiatives in managing human capital at BNI in an end-to-end way.
Responding to this requires improvements in career management & talent management in the development programs.
These improvements are carried out in an end-to-end way to produce employees with the capabilities needed according to
the Bank’s current and future business. The following explains the end-to-end career management & talent management
framework:
Employee Development &
Employee Classification (EC) Employee Profiling Implementation & Evaluation
Mobility Plan
Employee Classification Employee Profile mencakup Branding Implementasi IDP dan evaluasi atas
Individual Development Plan yang pelaksanaannya sebagai input Talent
mempertimbangkan Capacity & Talent & Readiness Mapping dengan
selaras dengan Succession Plan Committee dalam pelaksanaan Talent Mobility
Performance dari pegawai bantuan sistem teknologi
• Outcome Assessment
• Multirater • IDP
• Employee
Assessment
Input
Classification • Employee Class • Development Checkpoint
• Employee • Talent Profile • Feedback Coach/Mentor
• Gap Analysis
Performance Trend • Succession Plan • Evaluasi Pengembangan
• Succession & Career
• Achievement & • Job Family
Aspiration
Feedback
Process
Employee
Classification HC Analytics One-on-One Discussion Committee
Committee
Output
Employee Employee Individual Talent Mobility Implementation
Classification Profile Development Plan with regard to Job Family
Also, other improvement initiatives were carried out in Each employee is required to prepare an Individual
2023, including: Development Plan (IDP) program which consists
1. Optimization of Analytics Data & Enhancement of IT of a development plan for Hard Competency, Soft
Infrastructure Competency and Leadership Competency which is
For developing and implementing career & talent based on the results of the assessment. Next, employees
management strategies, BNI continues to increase the will carry out One-on-One Discussions with their direct
use of data analytics. Also, to increase effectiveness superiors so that the development will be carried out
and efficiency, it is supported by an IT infrastructure in accordance with their objectives.
through digitalization of business processes, so that
talent management can be carried out effectively, The Individual Development Plan (IDP) data then
efficiently and is data driven. In 2023, BNI improved becomes a reference for BNI University in providing
the Talent Dashboard and improved data quality to learning & development programs to support the
increase the accuracy of the resulting data analysis. realization of employees development plans.
2. Strenghtening Talent Management 3. Employee Mobility by paying attention to Job Family
As part of its efforts to create future BNI leaders, This improvement forms part of BNI’s transformation,
there is a focus related to managing employees who and is in line with the process of changing to a new
are categorized as talent. This program is designed way of working and organizational changes, so that
in a personalized manner and based on employee improvements made related to career management
competency gaps, employee career plans, as well as are in line with organizational changes. One of the
looking at future trends in the banking industry and improvements made involves the employees’ career
financial services sector to asceratin the competencies paths in line with their job family, ensuring increased
required for the future. capabilities are adjusted to employees’ career plans in
accordance with their job family.
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4. Improvements to Succession Planning
To ensure the availability of potential future leaders, all current leaders in BNI are required to recommend replacement
officials as part of succession planning, including the process of selecting potential successors, evaluating the
readiness level of potential successors, and carrying out development of potential successors in collaboration with
human capital. Also, to increase the capability of prospective leaders, BNI will continue to develop Leadership and
acceleration programs as part of the Management program.
5. Career Acceleration
In line with the Ministry of SOEs’ mission and the Company’s strategy to facilitate young talent and females with
superior capacity and capability to fill the Company’s leadership positions, a Career Acceleration program is provided
using a speed track mechanism.
Speed track is a career acceleration path that allows employees to remain in one position over a shorter period of
time than they should (accelerated).
Implementation of employee selection to occupy leadership positions through this Career Acceleration program
program is carried out with strict selection of ensuring employees who take part in this program have the adequate
capacity and capability, as well as a high learning agility before occupying the targeted positions.
6. Global Postgraduate Program (GPP)
To realize the Employee Value Preposition (EVP) as the best place to contribute, learn and grow to become the pride of
the country, BNI provides opportunities for the best talent to develop themselves by providing Master’s Scholarships
at the Top 30 World Universities.
Global Postgraduate Program Testimonials Global Postgraduate Program Testimonials
Vanessa Margareth Simanjuntak Kukuh Wicaksono
Master of Laws (LL.M.), University of California, Berkeley Master of International Business, The University of Melbourne
BNI’s Global Postgraduate Program (GPP) is concrete proof Getting the opportunity to receive a Global Postgraduate Program
that BNI not only supports and provides opportunities for its (GPP) scholarship from PT Bank Negara Indonesia (Persero) Tbk
employees to pursue a higher level of education, but also was a very proud achievement. This GPP program gives BNI youth
facilitates employees’ families while in the study country. an opportunity to increase their knowledge, exposure and capacity.
For me, being a BNI GPP participant was the highest form As well as providing opportunities to develop, this program also
of appreciation I had received during my career at BNI. This provided excellent facilities to support my learning in another
program also proves that BNI supports Gender Equality, country. This allowed me to concentrate fully on my learning
where I as a student-mom can bring my family which was fully activities to complete the studies I was undertaking.
guaranteed by BNI, so that I could optimize my studies.
A good program certainly also brings with it challenging
The University of California, Berkeley, is the 9th best university requirements. One of which is that the university you are going
in the world and also ranks in the subject area of Law and Legal to must be in the Top 30 Universities per Subject Area based
Studies. The Berkeley Law curriculum is designed to prepare on the QS World University Rankings. Alhamdulillah, after a
foreign lawyers for global practices, one way by providing long struggle, I was accepted at the University of Melbourne,
Certificates of Specialization options in a number of legal fields. the best university in Australia for 2024 based on the QS World
Some of the Certificates of Specialization available include University Rankings. Considering that BNI is currently focusing on
Business Law, Law & Technology, Environmental Law, Energy & international business development in which I am committed to
Clean Technology Law, International making maximum contributions, the study program I chose was
the Master of International Business.
I chose the Business Law specialization in line with BNI’s
steps to continuing to transform its business and culture That’s right. Being educated at one of the world’s leading
to provide the best banking services to the community. universities in a study program focused on international business
Studying in a developed country, which is also the center of has given me invaluable insight and knowledge. Gaining
the world economy, gave me a new perspective and updated experience and knowledge from the world’s top tier teachers,
knowledge on global economic & business issues. I believe exchanging ideas with friends from different parts of the world
that the knowledge I gained will improve my capabilities as a with diverse viewpoints, in an atmosphere of openness of opinion
corporate lawyer to contribute more to the country through really supported my learning activities. With the exposure and
BNI, especially in achieving BNI’s goals of Go Global, Go Digital knowledge have gained, my optimism has increased to contribute
and Go Green. to BNI.
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7. Self Development Program (SDP)
As well as supporting improving employee capabilities through studies at the Top 30 Global Universities, BNI also
supports employees who wish to complete their Strata-1, Strata-2 and Strata-3 academic education independently
at Indonesia’s best universities through the Self Development Program.
Leadership Development Program Testimonial
Aqbil Bani Mutsla
Master of Business Administration, Universitas Gadjah Mada
The Self Development Program is one of BNI’s programs that
provides extensive opportunities for BNI Hi-Movers to improve
their capabilities, especially in the academic field at well-known
universities in the country. I was given the opportunity by
BNI to develop my competency at one of the best universities
in Indonesia, Universitas Gadjah Mada (UGM) in a Master
of Business Administration (MBA) program with a focus on
Strategic Management. During my learning period I gained
knowledge related to how to run a company from a “helicopter
view” and how to run a business that is profit-oriented but still
has business ethics.
The interesting things about studying for the UGM Master
of Business Administration (MBA) is that there is equal
distribution of education through matriculation for semester
1 with an “Immersion” course where students who currently
mostly work in the field of finance or banking are given
challenges so they can learn new lines of business outside their
field of expertise.
Through the Self Development Program, BNI Hi-Movers do
not need to worry about high academic fees. BNI provides
reimbursement for all BNI Hi-Movers who independently
attend academic education in the country. Hopefully more and
more BNI Hi-Movers can improve their capabilities through this
higher level of education.
DEVELOPING HUMAN CAPITAL CAPABILITIES, CURRENT CAPABILITIES AND ANTICIPATING THE FUTURE
To support the Company’s vision as a financial institution that excels in sustainable service and performance, BNI provides
various training and development programs tailored to the needs of employees and the Company. BNI’s employee
competency development is carried out through BNI University, by applying the “Learner as the Center of Learning”
principle and all learning is structured based on the Learning Value Chain starting from strategic analysis of the Company’s
business and employee competency to evaluating the impact of the learning on the business.
Learning Needs Acquiring Delivery & Learning Impact
Diagnostic Learning Solution Deployment Measurement
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In carrying out its mandate, BNI University manages funds for developing the quality of HC by following the Republic
of Indonesia OJK (POJK) No. 24 of 2022 concerning Development of Quality of Human Resources in Commercial Banks.
Since 2017, BNI University has established procedural management standards referring to ISO 9001:2015, and since 2019
has participated in special global standard Corporate University accreditation, called the Corporate Learning Improvement
Process (CLIP) from the European Foundation of Management Development (EFMD), where in the Re-Accreditation process
in 2022 BNI University was declared as having met the CLIP Accreditation requirements for a period of 5 (five) years.
As a Corporate University, BNI University manages development and training activities to support the implementation of
BNI’s Strategic Business Policy, and to realize the Company’s Vision and Mission. In order to effectively meet the Bank’s
capability development needs, BNI University divides the focus of its learning development into 8 (eight) Academies, called:
No. Academy Function
Manages the development and planning of programs related to increasing
1 Leadership Academy
leadership capabilities.
Manages employee development and training plans related to the Finance
2 Finance & Human Capital Academy
and Human Capital sectors.
Manages employee development and training plans related to the Legal,
3 Legal, Governance, Audit & Compliance Academy
Governance, Audit and Compliance sectors.
Manages employee development and training plans related to the IT,
4 IT, Digital & Operation Academy
Digital and Operations sectors.
Manages employee development and training plans related to the Risk
5 Risk Academy
Management sector.
Manages employee development and training plans related to regional
6 Network & Services Academy
business management.
Wholesale, Treasury & International Banking Manages employee development and training plans related to Wholesale,
7
Academy Treasury and International Banking sectors.
Manages employee development and training plans related to the Retail
8 Retail Banking Academy
Banking sector.
1. Tiered Capacity Development
Based on development needed to display the best performance, training development is carried out using an approach
based on the level and position of each employee. Capability development per position level is cross border, and
includes the Leadership Program, Risk Management, Human Capital Program and Digital Program.
In facing increasingly complex competition, BNI must have a pool of talent that is superior and ready to face various
challenges. Therefore, BNI on an ongoing basis needs to develop competencies, one of which is related to leadership
aspects for employees.
BNI has developed a capability development program as part of employee career development starting from leadership
at the entry level to the highest level of leadership at BNI. This program covers knowledge, banking skills, personal
competencies and leadership to prepare employees to become leaders both in their current and their future positions.
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This program has been specifically designed for the pool of talent at each level of employment as explained below:
3
ADVANCED LEADERSHIP PROGRAM
2 MIDDLE LEADERSHIP PROGRAM
1 FIRSTLINE LEADERHIP PROGRAM
No. Program Name Purpose
Program aimed at developing the pool of talent leadership capabilities at the
1 Firstline Leadership Program
AMGR and MGR levels.
Program aimed at developing the pool of talent leadership capabilities at the
2 Middle Leadership Program
AVP and VP levels.
Program aimed at developing the pool of talent leadership capabilities at the
3 Advanced Leadership Program
SVP and SEVP level.
Through this program, BNI University prepares successors for future positions.
Leadership Development Program Testimonial Leadership Development Program Testimonial
Darman Susanto Setiono Adita Tiara Bastom
Team Leader Information Delivery Department,
MGR Regional Human Capital, Kantor Wilayah 06 BNI
Data Management & Analytics (DMA) Division
The Advance Management Leadership Program (AMLP) is a Thanks to BNI for giving me the opportunity to take part in the
set of upgrading sessions, which for me is not only a means Firstline Manager Leadership Program (FMLP). The material
of understanding important concepts as a leader in the era of presented in the in-class training was very comprehensive, and
digitalization and disruption in depth, but also a moment to included Managing Team Performance, Innovative Problem
learn hard skills and soft skills from teachers, instructors , and Solving, Developing Agile and Digital Mindset, Execute to Perform,
even fellow participants. As the employees gathered in the and Developing Farsighted and Global Leaders. The material
AMLP are BNI talent with strong capabilities and capacities, it was delivered by experts and practitioners in their fields using
is not surprising that the sessions held were full of enthusiasm best practice theory and case study approaches, so that the class
for two-way discussions and learning. atmosphere becomes very lively.
Learning about Impactful Value Creation and Execution In uncertain and dynamic conditions, as well as BNI’s condition
Strategy, Strategic Foresight and Scenario Planning, Leading that is currently undergoing transformation, we were provided
Innovation, Planning and Organizing in the Change Process, with changes in mindset and guidance on how to form a high
and Visionary Leadership involves sharp and relevant performing team in an agile situation, be adaptive and creative
discussions. These five learning seeions are very relevant to to produce innovations to improve work processes or create
the conditions currently occurring in the world and Indonesia. opportunities, to increase business for BNI. In the end, this
I am sure that this will be a valuable asset for all attending capability will be what is needed to gain market share in the
BNI Hi Movers to be able to apply the appropriate concepts market.
in their daily work at BNI to achieve optimal and impactful
results. These in-class sessions includes projects carried out by The single biggest way to impact an organization is to focus on
participants under the supervision of BNI University. leadership development – John C Maxwell. FMLP is a concrete
step that BNI focuses on when developing the competencies of its
leaders. FMLP alumni can become future leaders at the highest
levels of BNI, who will be the new leaders to beat the competition.
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To support overall capability development, BNI To ensure that each employee in their position is
University also prepares and organizes training for BOD equipped with the appropriate skills and knowledge,
and BOC levels through theTop Executive Development a specific Learning Path is prepared based on function.
Program. Increasing BOD and BOC competencies This development consists of the hard skills and soft
is done through various types of learning, such as skills aspects, which are divided into mandatory
Executive Education where BNI University collaborates programs, supplements (thematic), and development
with leading international educational institutions for each individual according to their gap (individual).
such as London Business School, Rotterdam School
of Management, Harvard Business School, and so Then, to support the formation of a digital financial
on. Apart from that, sharing sessions are also held ecosystem, employees are also taught related
with expert sources related to Economics, Financial capabilities, including Data Analytics, Business
Industry, Global and Digital Banking, Governance and Intelligence, User Interface (UI), and User Experience
Compliance, and other topics in accordance with the (UX), and others. The interesting thing about digital
latest conditions in the business world. skills training is that it is carried out using a bootcamp
system, starting with an In-Class Learning session and
2. Capacity Development Based on Position continuing with an Action Learning Project (ALP) session
In addition to training developed based on level, BNI with Checkpoint Mentors who are experts in their fields.
University also improves employee capabilities based Projects in ALP involve innovative ideas developed by
on their specific position function.The training provided participants based on science and knowledge during the
includes hard skills and soft skills, such as Brevet Branch bootcamp. In addition, there was also a Sharing Session
Management, Frontliner Academy, Brevet Wholesale with BNI Senior Leaders to add to the participants’
Transactional Banking, and others. perspectives and ideas.
In-Class Learning IT & Digital Bootcamp Session
Expert Sharing Session IT & Digital Bootcamp
3. Learning Management
For the employee development process, BNI University has developed a learning program that emphasizes Social
and Experiential Learning aspects through Coaching, Mentoring, On the Job Training and Action Learning Project
(ALP) programs. At each training stage, evaluations will be carried out to measure the impact of the development on
the Company’s business achievements.
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BNI University has an integrated learning platform, called BNI Smarter, to support the learning determined by BNI
University and the self-learning determined by each employee. The following shows the programs integrated in BNI
Smarter:
Program Description
A program to encourage employees to always improve their competency through “bite size
Daily Exercise for Employee
learning” in the form of daily tests with reminders when employees use digital attendance
Program (DEEP) 46
via digHC and BNI Smarter.
A personal learning budget that is managed independently by each employee, allowing
BNI Learning Wallet employees to choose their own learning journey and development to meet their competency
gaps and to create better, faster and smarter work results.
This program and recording system is used to create a learning & sharing culture, where
employees are encouraged to carry out learning & sharing for a minimum duration of 46
BNI MoRe UnLeaSh hours each during the year. If employees learn & share more than 46 hours a year and have
an impact on increasing their competency and performance, then this will become added
value for the employee and will be one of the considerations for changing their Person Value.
BNI Learning Game involves digital learning through gamification. Currently, there are two
courseware through learning games, called:
BNI Learning Game
• Digital Transformation Mindset
• Global Mindset
BNI Center of Digital Assessment & Application for employees’ Soft Competency Assessments at the ASST, AMGR, MGR and
Evaluation (CODAE) AVP levels.
Learning delivery is also carried out through webinars that can be watched via the BNI CorpuTVYouTube channel.The
topics discussed are of course in line with increasing employee knowledge, and include the Global Mindset Series,
Anti Fraud Awareness, Data Analytics, and others.
To improve the digital learning platform, BNI University collaborates with external providers.
All employees who undertake learning will receive Learning Points recorded in BNI Smarter as a form of appreciation.
In addition to developing employee capabilities, BNI actively participates in educating the public, especially through
student internship programs in collaboration with the campus ecosystem to provide opportunities for students to
gain knowledge and skills in the work environment. Programs implemented include:
Program Name
FHCI Internship Program - Indonesia Global Talent Internship (IGTI)
FHCI Internship Program - Generation Talent Internship (MAGENTA)
FHCI Internship Program - Vocational School UGM
Independent Campus Internship Program - Ministry of Education, Culture, Research and Technology (Kemendikbudristek)
Individual Internship Program
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Because of these programs, BNI received appreciation a Retirement Preparation Period, as well as seminars
from the Ministry of Education, Culture, Research, and or workshops related to entrepreneurship, health and
Technology as a partner with the greatest HC impact in financial management to provide for prospective retirees
the 2023 Learning and Student Affairs Awards event. to remain prosperous and productive in retirement.
REWARD & REMUNERATION STRATEGY • WE (Working Environment), a conducive work
BNI’s Reward & Remuneration strategy aims to increase environment that can influence employee performance,
effectiveness by attracting, motivating and retaining thereby creating a condition that supports optimal
targeted talent groups who show superior performance performance, including work space, breastfeeding room
and competency to support the achievement of BNI’s vision and sports facilities in the work environment.
& mission and strategy, and realize the Employee Value
Proposition (EVP). • GO (Growth Opportunities), an opportunity given
to employees to develop their potential and career,
In line with the Reward & Remuneration strategy, BNI will including career development from clerical to officer
strive to keep employee remuneration competitive in the through the Internal ODP Program, providing Master’s
market.The amount of remuneration is adjusted to internal Scholarships Overseas, internships at Overseas Branch
regulations while still paying attention to applicable laws, Offices (KCLN), as well as assignments to Subsidiaries
including being in line with or above the minimum wage and other SOEs.
standards set by the Government. Determining the wage
structure and scale in the form of a salary range according Creating a comfortable and inclusive work
to the weight of work, and carrying out periodic reviews environment with an agile and collaborative way
to ensure the competitiveness of BNI’s remuneration in of working
the market. The remuneration at BNI does not differentiate Employee comfort at work is one of Management’s focuses
between male or female gender and does not differentiate of attention, and is realized through an inclusive work
between race and ethnicity, but is determined based on environment with agile and collaborative ways of working,
position and performance. which is expected to encourage the engagement and
productivity of all employees. The programs implemented
The remuneration philosophy applied by BNI is total at BNI include:
rewards, a unified package of rewards/awards given to 1. Recruitment of Employees with Disabilities
employees, both in cash and non-cash. The Total BNI One of BNI’s efforts to create inclusiveness includes
Rewards, called FoR MoRe Benefit WE GO, are as follows: preparing a disability-friendly work environment both
• FoR (Foundational Rewards), a fixed income received by in terms of infrastructure and career opportunities at
employees in the form of fixed salaries & allowances. BNI, whereby BNI consistently recruits employees
with disabilities every year with the aim of providing
• MoRe (Motivational Rewards), a variable reward equal opportunities for all people who want to work.
component given in an effort to increase employee contribute, and have a career at BNI.
motivation at work and improve performance culture,
and is given based on the Company performance, unit 2. Respectful Workplace Policy (RWP)
performance and individual employee performance, In line with the Ministry of SOEs hope that all SOEs will
both as a short term and long term reward, and includes create an inclusive, conducive and productive work
annual bonuses, incentives, discretionary bonuses, environment, BNI has instigated a Respectful Workplace
employee share ownership programs, retention Policy (RWP) with the aim of protecting employees
programs, as well as recognition in the form of the from differences in treatment of individuals and groups
Best Employee Award and Long Service Award. based on Ethnicity, Religion, Race and Intergroup
(SARA), disabilities, social status, gender and any other
• Benefits, as rewards given in an effort to provide comfort differences, abuse and violence. If there is a violation
for employees while working at BNI and after work, of this policy, management will provide sanctions in
including health insurance while still active through accordance with applicable regulations.
the health insurance program and mandatory BPJS
Health program, as well as preparation of health funds 3. New Professional Style
for retirement through the Retirement Health Fund BNI understands that changes to an agile mindset can
Program (DKMP), as well as benefits for retirement in start with small changes, such as changing the way
the form of a Defined Benefit Pension Program (PPMP), you dress/appear at work to be fresher and in line with
and/or a Defined Contribution Pension Program (PPIP), changing times.Therefore, in 2023, management issued
Old Age Security, and Pension Security. For employees the New Professional Style provisions, where it is hoped
who are about to enter retirement age, BNI also provides that these changes will alter the mindset of employees
to work in a more agile and productive manner.
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4. Hybrid Working
BNI is looking to proactively support a work life balance to encourage employee productivity and has instigated a
hybrid work model policy for employees who do not serve customers directly. To support this hybrid work model,
BNI provides a Work Hub as an alternative workplace for employees that provides complete facilities, including an
adequate office network. It is hoped that the Work Hub will provide momentum to encourage employee productivity
and create a comfortable, collaborative work environment that can increase employee productivity. Apart from that,
to make it easier for employees to ensure the availability of places, the DigiHCS application has provided tools for
employees to make place reservations and invite other employees to work at the work hub.
5. 46 Society
BNI believes that building a healthy work and personal life balance will create a conducive work environment that
supports increased employee productivity. To encourage and realize this, one of the efforts made was to create a
community for employees with the aim of facilitating employees to develop their hobbies and talent as well as to
maintain their physical and mental health.
BNI now has more than 25 communities based on employees’ hobbies and interests in a forum called “46 Society”.
The 46 Society, apart from being a forum for employees to collaborate, is also a forum for employees to excel in
various events and represent BNI.
Community Representative Testimonials Community Representative Testimonials
46 Runners 46 Ballers Putri
Our high appreciation, as the female 46Ballers community, goes to
We, the 46 Runners, would like to express our appreciation for
BNI management for the continuous support they have provided
the extraordinary support from BNI management. From year
in creating an inclusive work environment. Management support,
to year, BNI management consistently provides support to the
both moral and material, has given us the enthusiasm to continue
community so that a synergistic relationship exists between
to develop and achieve much over the years. This year we were
employees and management.
given the opportunity to compete in the Financial Services League
and BUMN Fest, where we could contribute and channel our
BNI management always provides support in various forms,
talents to make the agency proud.
one of which is support for participating in various running
events. We feel connected to BNI’s positive values, namely
Through the Female 46Ballers community, we BNI Heroines
togetherness, struggle and collaboration as well as supporting
have been given space to grow, learn, and support each other in
a healthy lifestyle through sport.
achieving our goals, and we serve as a forum for BNI Heroines to
channel their individual interests and talents, so that these positive
We hope that in the following years we can continue to
things have cultivated a positive culture in our lives.
synergize and collaborate with BNI management to bring and
Management’s initiative in creating a safe and inclusive space for
campaign for positive values and healthy lifestyles even more
females not only in the business world but also by supporting
widely.
“work-life balance” has built up our enthusiasm to continue to
provide the best to BNI, and to develop a synergy between Female
46Ballers and all 46Society members to become even better .
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INTEGRATED DIGITAL INFRASTRUCTURE
Community Representative Testimonials IN HUMAN CAPITAL MANAGEMENT FOR
A SEAMLESS EMPLOYEE EXPERIENCE
To improve the employees’ experience and the effectiveness
of human capital management, BNI uses integrated
applications including DigiHC and BNI Smarter. DigiHC
is an application used by BNI Hi-Movers every day as
one app for all activities related to human capital starting
from attendance, surveys, work plans and daily realization,
financial information, on going feedback, to receiving
Gitaswara 46 updated information related to the latest human capital
policies.
For the learning function, there is the BNI Smarter
It is an honor to work at BNI as apart from achieving the application which is used to plan, monitor & record the
Company’s vision and mission, BNI really supports a work life
balance, one of which is fully supporting the activities of all
realization.Through the BNI Smarter application, employees
communities at BNI including the Gitaswara 46 community, an can choose modules that suit their needs and capability
association of BNI employees who love the world of singing
(choirs, group vocals, and solo singing).
development plans.
The Gitaswara 46 community work program involves
collaboration and effective, efficient and open communication
with BNI Management, so that it always returns good results IMPACT ON HUMAN CAPITAL MANAGEMENT
and increases creativity and motivation in our daily work.
STRATEGIC INITIATIVES IN 2023
Thank you to BNI for always providing moral and material
support for every Gitaswara 46 internal activity program, and
the external competitions, so that BNI is very proud of our All 2023, human capital strategies & initiatives aimed to
achievements. realize Highly Engaged & Highly Productive Employees
in line with the human capital management framework.
The impact of the strategic implementations and human
capital initiatives can be seen in the results of the Employee
Engagement Score (EES), which scored by 96%. Employee
turnover in 2023 was 1.2%, a decrease of 0.3% from 2022.
In 2023, the number of employees was 27,570 employees with employee productivity measured based on the earnings
per employee (EPE) measurement matrix of IDR753.8 million/employee or an increase of 10.5% from 2022.
APPRECIATION AND AWARDS IN 2023: MEANS OF EVALUATING
BNI’S HUMAN CAPITAL MANAGEMENT SYSTEM
Every year, BNI participates in activities involving external parties on a national and international scale, as a means of
evaluating the Human Capital management system implemented by BNI. In 2023, BNI received appreciation and awards
in managing Human Capital, including the following:
No Event Award
1 HR Asia HR Asia (Best Companies to Work for In Asia 2023)
Learning and Student Affairs Award – Directorate General of Higher
2 Partners Providing the Most HC Impact – Most 3
Education, Research and Technology
HUMAN CAPITAL MANAGEMENT STRATEGIC INITIATIVES FOR 2024
In 2024, BNI’s business growth is projected to be even better than in 2023 amidst changes in the market and increasingly
challenging banking business trends. In this regard, it is necessary to strengthen human capital which can support the
realization of BNI’s business strategies in 2024.The following are BNI’s strategic initiatives related to Human Capital in 2024:
1. Strengthening the workforce planning strategy to fulfill capacity in line with the bank’s business strategy in both the
short and long term with a focus on functions related to business, digital & IT.
2. Strengthening capability development through improving Human Resources development strategies to ensure the
fulfillment of HR capabilities both short and long term, as well as implementing Talent Management strategies to
ensure sustainable succession management.
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3. Improving performance based culture through, among other things, strengthening individual performance management
& career management strategies that are in line with skill-based organizations.
4. Internalization of culture transformation in accordance with the CultureTransformation Roadmap, including strengthening
militancy (resilience) & performance-based culture.
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Information
Technology
THE ROLE OF INFORMATION TECHNOLOGY 2. BNI as a Single Bank for managing Health operational
IN BUSINESS DEVELOPMENT INCLUDING assistance funds for 9,616 community health centers,
DIGITAL TRANSFORMATION which helped raise Rp2.1 trillion in Third Party Funds
(TPF) by December 2023.
During 2023, BNI continued to carry out various initiatives to 3. Modernizing the BNIDirect (BNI Cash Management)
support digital transformation, which referred to the 2021- infrastructure by separating the payroll and reporting
2025 Corporate Plan as a revision of the 2019-2023 corporate functions from the entire system to break down the
plan in accordance with the Board of Commissioners workload better, and minimize system downtime in the
approval No. DK/116 dated November 29, 2021, and the event of a disaster, which helped increase BNIDirect’s
2022 – 2025 IT Strategic Plan (RSTI) in response to business performance to support the number of transactions
development needs, and optimized bank operations in from each Wholesale Customer that increased by 34.8%
accordance with the 3 (three) main focuses of the IT by December 2023.
Strategic Plan (RSTI), namely Business Innovation & 4. The New Wealth Management System (WMS) increased
Transformation, Service Resilience for sustainable growth, AUM by 17% in the first month after implementation.
and Transformation into an Agile Digital Organization. 5. Implementing the Join Finance BNI Multifinance, one
of the Subsidiaries, increased its portfolio by Rp52 M
BNI’s IT plays an active role in fulfilling IT solution support within 8 days after implementation.
for business needs, especially in the context of supporting 6. Operational Excellence, the application of Business
BNI’s business achievements and transformation. This has Process Automation to 475 reconciliation processes
been demonstrated by increasing IT investment with the in the Enterprise Rekon process sped up the process
CAPEX budget increasing by 130% (YoY), which was fully time by up to 55% from previously.
absorbed according to the IT budget planning. This IT 7. Implemented Operational Data Store (ODS) as a
investment was used to resolve business demands and foundation for further data management with near real
prepare Reliable, Available, Scalable and Secure (IT RASS) time capabilities to support business needs, including
IT capabilities. analysis, insight and reporting, to increase cross-
selling and detect anomalies in business processes
Responding to business development needs, BNI IT plays for example.
an active role in fulfilling IT solution support, especially in
the context of supporting BNI’s business achievements and The digitalization carried out proved it could support BNI’s
transformation. Examples of the IT projects are as follows: business growth consistently by expanding market access
1. Implementing the New Core DPLK provided growth and operational efficiency. It is hoped that efforts to increase
of 119% with an actual fee-based achievement as of digital technology capabilities can develop BNI into a bank
December 2023 of IDR323 billion. that can compete in the digital era and be an inspiration
for the banking services industry in the future.
BNI IT VISION AND MISSION
VISION MISSION
1. Business Innovation & Transformation
Continue to deliver innovative and intelligent
solutions to drive digital transformation and
performance growth, powered by Intelligent data.
Become a strategic and trusted 2. Service Resilience to Sustain Growth
partner in carrying out BNI’s Digital Rationalize the architecture and prepare a reliable,
available, scalable & secure future technology
Transformation through Superior
platform to accommodate business growth.
Technology and Operational Solutions.
3. Transform to Agile Digital Organization
Transform the IT Operating Model and
organizational capabilities, as well as develop digital
talent to support IT strategy execution in an Agile
environment.
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BNI INFORMATION TECHNOLOGY support business by enhancing customer experience,
EXCELLENCE partnerships and sustainable ecosystems.
2. Technology Enablement for Business Expansion with
BNI’s advantages in IT has supported BNI’s business Risk Culture Prioritization
continued growth, and includes: Providing solutions to support business expansion
1. Increasing IT Maturity based on COBIT 5, from in BNI’s priority business sectors and value chains by
previously being at level 3 (established) capability to prioritizing a risk culture;
level 4 (predictable) capability, indicating that the level 3. Technology Modernization to Support Business
of IT process capability and IT governance is in line Modernizing technology to support business,
with best practices, supported by efforts to increase rejuvenation of IT solutions to support business
IT maturity by Fulfilling gaps in assessment results, processes and bank services with the aim of increasing
including fulfilling obligations to regulators and service and business productivity.
shareholders. 4. Strengthen IT Hygiene to Enable Service Resilience
2. Conducting an INDI 4.0 self-assessment as of December Strengthening IT RASS (Reliable, Available, Scalable
2023 with level 4 results (level: already implemented), and Secure) as the foundation and support to ensure
and reporting the results to the Ministry of SOEs perfect service and business delivery.
showing BNI’s readiness as a bank that complies with 5. IT Agile and Lean Organization
industry standards. Supporting an agile and lean IT organization to achieve
3. Expanding the Disaster Recovery Center (DRC) effective and efficient processes by dividing the IT
facilities, and the Disaster Recovery Plan (DRP) testing development operating model into 3: namely, project
by continuing to increase Switch Over & Switch Back based, product line and Center of Excellence (CoE).
(SO-SB) activities to test the backup systems in running As a form of BNI’s IT commitment to always aligning
the services, especially for critical and transactional strategy with the needs and direction of the Bank’s business,
applications, by using automation initiatives to provide this RSTI will always be reviewed and updated according to
a sense of security and trust to customers. updates to the Corporate Plan, Directors’ Policies, business
4. Implementing end point security on the server and strategies and BNI transformation projects, considering
client side, as well as security on the external side.This IT trends and regulations in the banking sector both local
was carried out to improve BNI’s IT systems security, and global.
and protect sensitive data from cyber security threats.
5. Initiating the IT Competency Model related to skill BOARD OF COMMISSIONERS
repository, performance management, community and EVALUATION AND DIRECTIVE FOR
career paths for all BNI IT Work Unit employees, so that BNI’S IT STRATEGIC PLAN
employee performance can be measured consistently
and transparently, and manage employee competency The Board of Commissioners has the authority and
development in a focused and sustainable manner. responsibility to evaluate, direct and monitor strategic
6. Expanding the digital development function into 2 plans and IT governance implementation. Their role is
divisions, the Retail Digital Delivery Division and the not only limited to a supervisory one, but also includes
Wholesale Digital Delivery Division, with the separation comprehensive evaluation and strategic directives.
of development focused on increasing efficiency, This reflects BNI’s strong commitment to integrating IT
effectiveness and the organization’s ability to achieve effectively and responsibly into its business operation,
its goals,. ensuring that IT supports the Company’s overall vision
7. Implementing an Agile and Lean IT Organization so that and mission.
the IT development process becomes more flexible,
is responsive to change, and can support a culture of At a Board of Commissioners Meeting (RADEKOM), the
collaboration. Board of Commissioners presented the IT Strategic Plan
that contained a comprehensive overview of BNI’s IT Vision
BNI IT STRATEGIC PLAN and Mission, including discussions on programs, projects,
IT Enterprise Architecture, and IT Investment Plans. This
To support BNI’s Corporate Plan which is the current session provided the Board of Commissioners with the
reference, an IT Strategic Plan (RSTI) has been prepared opportunity to conduct an in-depth evaluation and provide
as a guideline for implementing IT support to achieve appropriate directives to ensure alignment of the IT strategy
planned business goals. In the Information Technology with the business objectives.
Strategic Initiative Plan (RSTI) for 2022 – 2025, support for
the Corporate Plan is reduced to 5 (five) Main IT Programs On December 14, 2023, to evaluate BNI’s IT performance
as follows: during 2023, a RADEKOM was held with the main focus
1. Digital Innovation Through Data Driven, Customer on Evaluating the Information Technology Strategic Plan.
Experience, and Operational Excellence During this session, three main topics were discussed
Developing digital-based innovations and solutions to and evaluated including: 2023 IT Project Progress, 2023 IT
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CAPEX Absorption, and IT Planning Session for 2024. This d. Clearing, Settlement, Reconciliation, supporting
evaluation was crucial to ensure IT project implementation payment, clearing and settlement processes,
took place according to the predetermined plan and budget, where solutions are connected to external parties
as well as to ensure effectiveness and efficiency in the use (regulators, etc.);
of IT resources. e. Data Analytic Platform, supporting analytical
solutions aimed at optimizing data management
IT SOLUTION DEVELOPMENT BASED and utilization in banks;
ON IT APPLICATION ARCHITECTURE f. Regulatory & Compliance, supporting analytical
solutions and data modeling for reporting needs
Currently BNI Enterprise Architecture has implemented with regulators, as well as providing monitoring of
the Enterprise Architecture Tool to optimize and align the compliance with applicable rules and regulations;
business goals with IT strategy, to make it easier for the 3. Back Office (Core System), a collection of solution
Bank to create effective and efficient IT solutions, so that capabilities that function for processing financial
the effectiveness of IT development costs can be optimized. products and services, divided into 3 (three) scopes,
namely: Assets, Liabilities and Transactions.
In the process towards digital transformation, BNI IT has
implemented BNI Enterprise Architecture based on the INFORMATION TECHNOLOGY
TOGAF Framework as a standard for Enterprise Architecture INFRASTRUCTURE
development, which consists of four main domains, namely:
Business Architecture, Application Architecture, Information To maintain the continuity of delivering the best digital
Architecture and Technology Architecture. BNI’s Enterprise services for all customers, BNI, supported by 3 Data Centers
Architecture has become the standard for developing IT (DC), consistently ensures service availability through
systems and applications in providing Digital Bank or testing the Disaster Recovery Plan (DRP) by continuing to
Open Banking products. Alignment between Enterprise increase Switch Over & Switch Back (SO-SB) activities,. to
Architecture components supports BNI in providing solution test the backup system in running services, especially for
initiatives to improve business processes, making it easier critical and transactional applications. With a minimum
for stakeholders to integrate BNI solutions. uptime of 99.98% in 2023, an optimal, sustainable service
was provided, to increase the level of service availability and
The Enterprise Architecture Landscape is grouped as to provide a sense of security and comfort for customers
follows: in using all BNI services.
1. Front Office (Channel), a group of solution capabilities
that function to distribute the financial products and At the same time, BNI also ensures digital services
services, divided into 3 (three) scopes, including: reliability for customers, by increasing capacity (capacity
a. Customers, supporting customer retail and planning), and digital system capabilities by applying
corporate product services interactions; the appropriate latest technology for BNI’s business. For
b. Branches, supporting BNI front office employees in continuous infrastructure rejuvenation, and in line with
providing banking services to physical customers the Software-Defined-Everything paradigm to simplify
(who attend the branch directly); the IT infrastructure governance and operations, BNI has
c. Business Partners, supporting business partners in implemented a Software-Defined Data Center using Cloud
collaborating to provide services for BNI products; and Virtualization, Software-Defined Storage based on
2. Middle Office (Processing), a group of solution Hyperconverged technology, as well as Software-Defined
capabilities that function to support main business Network and Software-defined Wide Area Network.
completion, divided into 6 (six) scopes, namely:
a. Sales Management, supporting the sales and BNI has implemented the CMDB (Configuration
marketing process of BNI banking products and Management Database) tool, which is an important aspect
services; in implementing IT Service Management to improve reliable
b. Loan Management, supporting the end to end IT services for BNI businesses. In addition, BNI has Real
loan assessment, management, processing and Time MonitoringTools that are not only used for monitoring
monitoring process; but also for predictive capacity planning and automated
c. Operational & Enterprise Support, supporting task operations through the use of Artificial Intelligence (AI).
operational banking services and products not Together with the Helpdesk and IT Service Management,
related to recording customer transactions as well BNI ensures excellent service monitoring and remediation
as managing organizational resources including 24 x 7.
buildings and facilities, equipment, documents,
finances and human capital.
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INFORMATION SECURITY CONTROLS
POJK COBIT
ISO
NIST
27001
PLAN DO IDENTIFY DETECT
ACT CHECK PROTECT RESPOND
RECOVER
To support BNI’s commitment to protecting customer For the implementation of the NIST framework, BNI carried
data and maintaining safe IT operations, it continues to out a number of efforts to ensure business continuity from
strengthen cyber security through a variety of efforts, cybercrime threats, divided into several domains, including:
including: 1. Identify
a. Continuously implementing governance, regulations
1. Strengthening the information security function by and compliance so that information security runs
developing the CISO (Chief Information Security Officer) well, and is in accordance with internal regulations,
function in an effort to focus on BNI cyber security; statutory provisions and applicable best practices;
2. Continuously implementing governance, regulations b. Developing security aspects in every application
and compliance so that information security runs well, development by applying the Secure SDLC
and in accordance with internal regulations, statutory framework so that security is involved in all phases
provisions and applicable best practices; of demand and delivery. In addition, security plays
3. Continuously implementing a security architecture an active role in security testing, both after the
for information security for assets, data, applications, project is completed, and periodically in testing
endpoints, networks and security parameters to ensure and production environments;
the principles of confidentiality, integrity and availability c. Increasing overall Cyber Maturity through external
run well; consultants’ assessments and recommendations
4. Collaborating with official state bodies (BI, OJK and 2. Protect
BSSN), security device principals and other cybersecurity a. Continuously implementing security architecture for
activist communities to obtain information on threats information security for assets, data, applications,
and weaknesses, the latest technology and products, endpoints, networks and perimeter security to
as well as support when incidents occur; ensure the principles of confidentiality, integrity
5. At the end of 2023, BNI Internal Audit (IAD) carried and availability run well;
out an Information Security Audit within BNI and was b. Implementing multilayer of defense security devices
certified with ISO 27001:2013 –The Information Security that refer to international standards as implemented
Management System in the Provision of Open API in national banking;
Services with the results of the Criteria “Certified ”.
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c. Educating employees to increase awareness of cyber security and on a regular basis carry out phishing simulations
for employees;
d. Continuously organizing awareness education through Human Capital competency development programs;
e. Periodically carrying out security testing on BNI applications to strengthen BNI applications from cyber attacks.
3. Detect
a. Implementing security solutions using machine learning and artificial intelligence security systems;
b. Implementing security solutions for end point security with improvements in control, data privacy and cyber
attack protection;
c. Conducting 24x7 proactive monitoring of cyber threats;
d. Continuously reviewing the current security controls and updating them;
4. Respond
a. Instigating customer protection mechanisms against fraudulent transactions caused by banking malware or
social engineering;
b. Carrying out Threat Hunting using detection mechanisms and taking down fake websites carrying BNI’s name;
5. Recover
a. Collaborating with official state bodies (BI, OJK and BSSN), security device principals and other cybersecurity
activist communities to obtain information on threats and weaknesses, the latest technology and products, as
well as support when incidents occur;
In addition to the above, given that the trend of cyber attacks is currently increasingly spreading to customers, safeguards
on the customer side that have been implemented, include:
1. Multi-factor authentication and facial recognition (liveness detection) mechanisms to increase security and reduce
the risk of customer identity misuse.
2. Continuous education is provided for customers regarding personal protection through password security, internet
banking security, mobile banking security, ATM transaction security and other matters.
BNI is committed to continuing to develop cybersecurity, and to oversee banking service innovation so that of customer
trust and comfort can always be well maintained. This is consistently carried out in line with the direction of business
development towards digital banking.
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Information Technology
Governance
Information Technology Governance is a process used to ensure that IT use runs effectively and efficiently, so that it
can mitigate risks while providing added value for BNI. IT Governance at BNI is carried out by aligning the IT Strategic
Plan with the Bank’s business strategy, optimizing resources, utilizing IT, measuring performance, and implementing
effective risk management while still complying with OJK regulatory provisions and Bank Indonesia regulations. The
implementation of IT governance at BNI includes the following:
Active
Supervision of
Board of Directors
and Board of
Commissioners
Adequacy of IT Utilization
Policies and Procedures
Adequacy of the Process for Identifying,
Measuring, Monitoring and Controlling IT
Utilization Risks
Internal Control System
for IT Utilization
The use of IT at BNI is regulated in policies, standards and procedures that are applied consistently and continuously
in accordance with the provisions in OJK Regulation No. 11/POJK.03/2022 concerning Implementation of Information
Technology by Commercial Banks.
1. Bank IT Governance 2. Bank IT Architecture 3. IT Risk Management
Resilience and Use of IT Service Placement of Electronic
4. 5. 6.
Cybersecurity Providers Systems
Data Management and IT Service Providers by Internal Control and
7. 8. 9.
Personal Data Protection Bank Internal Audit
Bank Digital Maturity
10. Reporting 11.
Level Assessment
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BNI’s current IT Governance is broadly divided into 4 (four) scopes: Planning, Development, Operations and IT Security.
IT Planning IT Development TI Operasional
IT Security
Information Technology Planning Information Technology Development
IT planning includes several processes and activities, IT governance covers the end-to-end IT development
including: process of implementing the Software Development
1. Preparing an IT Strategic Plan to describe the roadmap, Life Cycle (SDLC), both waterfall and agile. In 2023, BNI
BNI’s technology strategy, the Information Technology developed a New SDLC procedure with flow development
Work Unit vision and mission, the main principles that in the demand and delivery phases. The demand phase
serve as a reference in the development and use of starts with the process of registering IT development
Information Technology to meet current and future initiatives, defining requirements, implementation approach
business needs, in line with the BNI long term strategic selection, prioritization to the formation of a project charter.
plan. The delivery phase starts with project kick off, detailing
2. Annual IT Plan (Business Plan) including: requirements & design, development, testing, deployment
a. IT Application Development Plan preparation, release control board, migration, Production
b. IT Infrastructure Development Plan Trial Run (PTR), golive, up to project closure.
c. IT HC Education and Training Plan
d. IT Governance Improvement Plan In the demand phase, there is enrichment of activities or
e. Investment Cost and Operational Cost Budget planning processes to ensure the quality of projects to be
f. Time period and implementation schedule implemented that provide benefits for the Bank, including:
g. IT Work Unit’s performance indicators relating to 1. Preparing a Feasibility Study (FS), a process of
risk levels, and the scale of IT project priorities, explaining project implementation objectives, brief
linked to the Bank’s business and IT Strategic Plans. project scope, budget requirements, and the benefits
h. The IT Annual Plan is then submitted to the to be obtained by the Bank. FS is used as a benchmark
Technology Management Committee for discussion for feasibility testing of IT project proposals (cost &
at theTechnology Management Committee Meeting benefit analysis).
to ensure its suitability with the IT Strategic Plan, 2. Prioritizing IT project proposals, a process of reviewing
to be then approved by the Board of Directors as and analyzing the IT project proposals feasibility
part of the Bank’s Annual Plan. referring to the FS, to ensure that the proposed project
can provide the best benefits (business value) for the
Bank.
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During the delivery phase, there will be an enrichment ITIL focuses on IT processes, procedures, tasks and service
of activities or implementation processes to ensure that levels to support the Bank’s strategy, provides added
the quality of delivery or development results is optimal value, and maintains IT competency levels. With ITIL, BNI
and in line with user needs, by having a Release Control IT operations set a baseline as a service benchmark, as
Board (RCB) activity that will review and verify promotion a basis for planning, implementing and measuring its
readiness both administratively and technically, including achievements.
completeness of documents, permits, infrastructure
readiness to further provide approval for promotional plans International Organization for Standardization
for each development carried out. 9001 (ISO 9001)
ISO 9001 is a quality management system standard
Information Technology Operations designed to ensure that BNI can meet stakeholder requests
IT operations includes processes and activities, including while complying with regulators’ needs concerning its
data center operational management, communication products and activities. BNI IT first implemented ISO 9001
systems and networks management, system incidents/ in 2007 with the scope of IT Operations and IT Security
problems management, operational management of IT Management.
systems by third parties, and IT operations risk management.
BNI’s IT development fulfilled the requirements to
Information Technology Security upgrade ISO 9001:2008 to ISO 9001:2015 after establishing
BNI’s IT security governance focuses on a cyber security mechanisms and quality standards that focus on Bank
framework divided into 3 (three) pillars, namely: performance with a risk-based thinking approach so that
3. Governance: includes security awareness, information the IT unit will be more proactive in preventing and reduce
security provisions and development of team and undesirable effects, and will always improve the system
organizational capabilities; on an ongoing basis (continuous improvement) so as to
4. Protection: consists of a multi-layer defense mechanism, maintain ISO 9001:2015 certification.
security assessment (penetration testing), as well as
incident management and forensics; International Standard to Manage Information
5. Operation: includes 24x7 Security Operation Center Security – ISO/IEC 27001
(SOC), threat intelligence, and user access management ISO 27001 is an international standard for Information
BNI maintains a balance between People, Process and Security Management Systems (ISMS). ISO 27001 is a
Technology aspects when selecting a framework. Based on widely chosen information security framework standard that
these considerations, BNI’s IT governance implementation is, has wide acceptance, is trusted by many organizations,
adopts the frameworks that are appropriate to the IT service and is a reference for other information security frameworks
areas at BNI. such as the NIST Cybersecurity Framework, SANS, etc. ISO
27001 standardization can be used to improve IT security
Control Objectives for Information and Related and has a positive correlation to increase the level of trust
Technologies (COBIT) of both customers, business partners/third parties and
Control Objectives for Information and RelatedTechnologies organizations.
(COBIT) is widely recognized as an IT management and IT
governance framework. COBIT regulates IT management To strengthen BNI in competing with its peers and the
to meet the needs of BNI stakeholders through managing fintech industry, ISO 27001 standardization is important,
process groups and enablers, where business goals are and will reap the following benefits:
mapped to IT goals, and achievement and maturity are 1. Make BNI more competitive in the banking, fintech
measured. and other financial institutions industry in providing
a positive image and good perception in securing
BNI’s IT management uses the COBIT framework as a customers and business partners/third parties.
reference for its governance as there is synergy between 2. Improve information security governance in accordance
business goals and IT goals, it is focused on data and with applicable national and/or international standards
information, it can be flexible to follow the Company’s so that it will be relatively easier to obtain permits from
work direction, and it can be used in conjunction with other regulators.
framework standards. 3. Make it easier for BNI to improve control of information
security over digital banking business processes.
Information Technology Information Library (ITIL)
Information Technology Information Library (ITIL) is a
standard framework for IT Service Management (ITSM),
which BNI IT uses to align IT support services to BNI
business.
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INFORMATION TECHNOLOGY 10. Data Analytics & Visualization
STEERING COMMITTEE 11. Business Intelligence
12. UI/UX Design
BNI’s Board of Directors established an information 13. Certified inThe Governance ofThe Enterprise IT (CGEIT)
technology steering committee through Board of Directors’ 14. Project Management Professional (PMP) & Certification
Decree No. KP/364/DIR/R dated August 13, 2021 concerning 15. Personal Data Protection Law (PDPL)
the Arrangement of theTechnology Management Committee 16. The Open Group Architecture Framework (TOGAF) 9.2
(TMC). The TMC was established to assist the Board of Foundation & Certification
Commissioners and Board of Directors in carrying out
supervision of Information Technology (IT) activities. Apart from face-to-face education and training, BNI has
Detailed information on the Technology Management also supported and facilitated IT employees to take part
Committee can be found in the Corporate Governance in online training on various learning platforms such as
Chapter of this Annual Report. Udemy, LinkedIn Learning, and other platforms.
IT HC DEVELOPMENT AND In addition, to address future challenges, BNI IT has piloted
CERTIFICATION PROGRAM an IT Skill-based Organization using international industry
standards so as to increase IT HC capabilities, and fulfill
Increasing IT HC competency is very necessary to realize formations in accordance with developing business needs,
IT strategic plans, and for IT HC, BNI has designed and and create capable IT HC as digital talent to support BNI’s
implemented a systematic and structured employee digital transformation.
competency development plan. This helps improve
the quality of IT strategic plans and create competitive BNI carried out this initiative to create standard skills that
advantage for BNI’s business. The Bank realizes that BNI IT people must have, so that the InformationTechnology
program adjustments are needed so that the developments Work Unit (SKTI) can ensure the work results have been
carried out remain in line with changes in the digital era. produced by a competent team according to industry
standards. In addition, capability development will also
BNI has adjusted its capabilities not only from the process be more focused and will increase the engagement of
and technology side, but also from the people aspect. BNI IT people, as it focuses on self-development, and is
This has been achieved with the understanding that the in accordance with BNI IT’s goals and vision and mission.
development of Human Capital as BNI’s most important
asset is necessary for the future success of the organization. IT AUDIT IMPLEMENTATION
Therefore, BNI through the IT Work Unit provides employees
with different kinds of training to develop their soft skills and As a form of BNI’s commitment to applying goodTechnology
hard skills. Development of soft skills is carried out through Governance, BNI conducts regular audits. BNI organized an
digital leadership training, technology presentation skills, as independent audit of the implementation of Information
well as communication & negotiation skills. While hard skill Technology by Internal Audit.The BNI’s audits are carried out
training is carried out through project management training, and guided by the Minister of SOEs Regulation No. PER-2/
IT architecture, programming, CI/CD, secure coding, cloud MBU/03/2023 concerning Guidelines for Governance and
security, etc. Significant Corporate Activities of SOEs, especially article
210. For their implementation, the audits conducted by the
During 2023, BNI’s IT employees participated in education Bank included an evaluation of the implementation of the
and training, including: IT Strategic Plan and an evaluation of the effectiveness of
1. COBIT (Control Objective for Information and Related IT implementation
Technology) 2019 Certification
2. Governance, Risk and Compliance Program - Essence As well as being a form of BNI’s compliance with regulatory
and Paradigm for Implementing GRC and compliance aspects, the audit carried out by BNI is also
3. Administering SQL Database to check BNI’s level of readiness in managing Information
4. Java Fundamentals Technology. In 2023, BNI followed up on 14 types of audits
5. IT Asset Management for various activities, including BI mandatory security audits,
6. Oracle Certification Administration strategic project audits, IT procurement audits, and other
7. Finnon Profit Planning & Capital Building audit activities.
8. Professional Scrum Master (PSM) & Certification
9. Project Management Inbound Bootcamp
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IT AWARDS IN 2023 fraud & money laundering patterns, better referrals
and recommendations, supply chain analysis, and
The efforts made during 2023 yielded good results. BNI strengthening cybersecurity.
received the following awards for its activities in the IT 5. Implementing Metadata Management to ensure data
sector: integrity, facilitate data access and management, and
1. Best Banking API Solution in Indonesia at the Alpha support better data compliance and governance.
South East Asia 2023 event. 6. Generative AI to help Relationship Managers (RM)
2. Certification for ISO 9001/2015: Quality Management understand customer needs and preferences in more
System for IT Operating Services & Information depth, and recommend appropriate investment
Technology (IT) Security Management; products.
3. Certification for INDEX KAMI; 7. Standardizing Overseas Branch Offices (KCLN) to
4. Certification for ISO/IEC 27001:2013: The Information support for BNI in strengthening its strategy for
Security Management System for the Provision of Open expansion in opening new KCLNs.
API Services; 8. Modernizing Channel, focusing on revamping new
5. A Cobit-based IT Maturity wascarried out in 2023 Mobile Banking and Wholesale Single Platform.
6. The Best International & Localized Developer Portal at 9. Rejuvenating & Strengthening Middleware to facilitate
the 2023 DevPortal Award integration between systems and applications.
7. Axway Innovation Excellence Award at the 2023 Axway 10. Conducting Capacity Planning to prepare the
Excellence Award Event. performance, scalability and reliability of technology
that supports the business now and in the future. For
INFORMATION TECHNOLOGY example, increasing server infrastructure to handle
FUTURE DEVELOPMENT PLAN the increasing volume of online transactions, as well
as increasing network bandwidth to support mobile
Based on with the Minister of SOEs Regulation No. Per-2/ banking applications and other digital channels that
MBU/03/2023 concerning Guidelines for Governance and continue to grow.
Corporate Activities of SOEs, BNI is developing information 11. Implementing an IT Skill-based Organization with
technology and reliable and safe IT services by prioritizing international industry standards so as to improve IT
the principle of benefit. IT service development is carried out HC capabilities as a whole in all BNI IT, as well as to fulfill
based on best practices and refers to the IT Strategic Plan. formations in accordance with developing business
needs and create IT HC capable of becoming digital
To realize the IT Vision, namely “ Become a strategic and talent to support BNI’s digital transformation.
trusted partner in carrying out BNI’s DigitalTransformation
through Superior Technology and Operational Solutions”, NEW WAY OF WORKING
the IT work unit defined three strategic missions in the
IT Strategic Plan, namely Innovate to Evolve, Service The New Way of Working (NWOW) aims to form an
Resilience to Sustain Growth , and Transform to Agile organization and talent that is agile, proactive and has a
Digital Organization. culture of collaboration and has high execution capabilities.
The New Way of Working initiative is an effort to align
In accordance with this vision, BNI will continue in the future the organization to clarify accountability and reduce
to instigate improvements and upgrades to IT capabilities. overlapping functions, so that the work process within the
In 2024, BNI will go deeper to improve security, with several BNI organization will become more effective and efficient.
other IT focuses, including: The New Way of Working needs to be implemented in this
era that is full of change, to help BNI face all challenges.
1. Strengthening the core system to support the The implementation of NWOW aims to prepare the BNI
acceleration of business processes and fulfill IT organization for the future and with new ways of working
capabilities in anticipating new demand. to support the Bank’s strategic targets.
2. Increasing risk management and security, in terms of
increasing security on Security Governance, Security
Operations, and also Security Prevention, as well as In the scope of Information Technology, the New Way
implementing Personal Data Protection (PDP). of Working is applied through a digital transformation
3. Redesigning the Data Center, thereby maximizing program where the digital transformation carried out can
support for BNI channels such as BNI Mobile Banking change the digital technology mindset, through forming an
and other channels. employee culture in accordance with BNI’s transformation,
4. Implementing Graph DB, as a better step for and by making changes to organizational design and
representing, storing and analyzing patterns, to implementing the New Way of Working, so that BNI can
assist in making better predictions. Application cases optimally collaborate with peers, fintech and startups as
include customer & product 360 degree, detection of well as the digital ecosystem.
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SYNERGY IN THE APPLICATION OF INFORMATION TECHNOLOGY WITH SUBSIDIARIES
BNI’s information technology development adopts an IT Agile and Lean Organization that can strengthen collaboration/
synergy between BNI and subsidiaries with the aim of efficiency and optimization of IT resources, thereby increasing
effectiveness and cost efficiency by providing added value to support service and business activities..
Beberapa potensial sinergi digital untuk mendukung perusahaan anak diantaranya Beberapa potensial sinergi digital
untuk mendukung perusahaan anak di antaranya:
1. Synergy of Capabilities & Integration
a. BNI Life
i) Carrying out synergy in developing the BNI digital ecosystem through Mobile-Banking (BNI) integration
ii) ICarrying out Customer Data Consolidation synergies
b. BNI Finance
i) Carrying out synergy in developing the BNI digital ecosystem through the integration of Mobile-Banking (BNI)
and Loan Management System (BNI)
ii) Carrying out content/document management system (BNI) synergy
c. BNI Sekuritas
d. BNI Asset Management
e. BNI Remittance
f. hibank
2. Technology Synergy
3. Procurement/Sourcing Synergy
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Service
Digitization
BNI continues to strengthen those digital innovation that BNIDIRECT
deliver a strong contribution, both in terms of operations
and profitability. As one of the pioneers of digital banking, BNIDirect is an electronic channel provided by BNI for
BNI continues to encourage digital innovation to accelerate non-individual customers to carry out financial transaction
digital transformation in all BNI business and operational activities from customer accounts at BNI more quickly,
lines.The development of information and digital technology easily and safely. Accessible via a web-based platform
such as the growing use of the internet, Artificial Intelligence or mobile app, BNIDirect offers three main functions in
(AI), Data Analytics, Cloud, and Internet of Things (IoT) facilitating the Company’s operational activities, namely
trends has triggered changes in the industrial sector. This Payment Management, Collection Management and
has marked an increasing use of communication networks Liquidity Management. In a digital era where technology
and the internet for various purposes, automation processes continues to develop and is able to provide added value
integrated with AI, decision making using insights gained for the Company, BNI continues to develop BNIDirect
from Big data analysis, optimizing the use of the Cloud for capabilities by developing features, engines and dashboards
business and personal needs, and connecting daily devices according to customer needs, so that customers can gain
with the internet. These changes have not only change the optimal benefits from technology.The superior features
consumer behavior, but have encouraged the creation of offered are as follows:
more innovative and adaptive business models, in line
with current market trends. The top features offered are as follows:
1. E-Tax
BNI is continually improving through innovations to create Payment service that makes it easier for Taxpayers/
new products and services based on customer needs. BNI Payers/Recipients to make payments or deposits for
is committed to always maintaining and improving service Tax, Non-Tax State Revenue (PNBP), and Excise using
quality, and is proactive in encouraging and developing billing codes or electronic payments.
digital solutions for customers. One of BNI’s efforts to 2. Mass Payment
adapt to more digital changes in consumer behavior has E-Payroll (channel for paying employee salaries for
been to explore innovations and study the latest trends in non-individual customers), bulk payments.
the use of technology. To optimize innovation in terms of 3. E-FX (Forex Transaction) Integrated Reporting:
technology and optimization of business processes, BNI Features that make it easier for customers to identify
has also used the services of the Independent International cash inflows, monitor liquidity, and carry out all
Research Institute on an ongoing basis since 2007 to gain transactional needs to overall financial management.
references, descriptions, trends, and insights on technology 4. Billing Payment
and developments in the global industry in general and BNIDirect provides bill payments such as for electricity
banking in particular. Several key technologies adopted bills, BPJS, internet, telephone, and BNI POPS
have contributed significantly to the development needs of (Pertamina Ordering and Payment Solutions) services.
BNI’s digital banking products and services in recent years.
This increase in the number of users is thanks to BNIDirect’s
BNI service products supported by the development of innovation in providing seamless, reliable and integrated
digital technology include the following: solutions. Currently, BNI is developing BNIDirect the
following features and capabilities:
1. Single Sign On (SSO) to make it easier for customers
to access all BNIDirect features.
2. Financial Dashboard to consolidate all financial aspects
and customer information.
3. Online Corporate Onboarding System to make it easier
for customers to use BNIDirect facilities.
4. Integrated MobileToken to enable customers to register
more than one user on one device
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BNI API SERVICES BNI VIRTUAL ACCOUNT
BNI Virtual Account offers the convenience of identifying
In reaching out to various digital ecosystems, especially partners/customers who make payments, with accurate
those that are relevant to people’s current lifestyles, BNI monitoring and reporting, as well as convenience and
provides open banking facilities through API services that speed in the reconciliation process.
can be accessed by various e-commerce, ride-hailing
platforms, financial technology (fintech), various university The Virtual Account can be used as a customer or depositor
startups, corporate SOEs, Ministries, etc. Digital initiatives identification, where every deposit in the virtual account
carried out by BNI through open banking services include will automatically be recorded in the main account that is
products, digital platforms, and service expansion in the destination of the deposit.
ecosystems based on a business to business to consumer
(B2B2C) model. The complete BNI Virtual Account features are
accommodated in the BNI e-Collection platform, and can
In 2023, five new features were added to the BNI Digital answer various collection management needs based on
Services API to improve the user experience and meet the customer needs.
growing needs of our customers:
1. Software Development Kits (SDKs): Where SDKs BNI TRADE ONLINE
function as important tools that empower developers to To support the trade process digitization, BNI has developed
create applications and connect with BNI API. Within the BNI Trade Online, an application for the Trade Finance
BNI API Digital Services Portal, SDKs can be accessed process integrated with BNIDirect. BNI Trade Online is
in multiple languages, including JavaScript, PHP, and a feature on BNIDirect where customers can carry out
Python, providing a versatile and comprehensive trade activities such as Import LC, Export LC, Collection
resource for developers. and Financing. With BNI Trade Online, it is no longer
2. Feature-rich sandbox environment and sandbox filling necessary to submit requests for trade transactions through
automation: Developers can access the sandbox in BNI branches, but can be done by accessing BNIDirect.
minutes, allowing them to run a series tests before Several system development initiatives have been initiated
releasing an application. to improve the features that support customers’ trading
3. Postman Collection:This feature provides convenience activities, including the development of a faster and more
for clients or prospective clients by simplifying the efficient BNI Trade Online registration process so that
service testing process for importing data by presenting customer transactions become more flexible.
a visual representation of the requests and responses
of each service. BNI Trade Online continues to be developed, where to
4. Sample data filling automation feature: This feature explore the potential of customers’ trading services, product
allows automatic generation of sample data, making it features are being added that can be accessed by customers,
easier for partners or potential partners to test services as well as enhancements to existing product features. BNI
and receive sample responses via the BNI API Digital Trade Online is proof that BNI is also developing in line
Service Portal. with changes in the BNI customers’ mindset in the era of
5. SNAP API: Open Application Programming Interface digitalization as a branchless and paperless service solution.
(API) Standardization Initiative by Bank Indonesia
to encourage a strong, competitive and innovative KLN BNIDIRECT
payment system industry while improving the security In an effort to improve services for overseas customers and
and reliability of the payment system infrastructure. as BNI’s implementation and support as an international
bank, BNI has developed the BNIDirect Overseas Office
(KLN) platform to support the growing diaspora who rely
To date, BNI remains committed to improving digital on an international network and branch offices. BNIDirect
transaction solutions in Indonesia through its 283 API KCLN also reaches overseas customers who have business
services approved by the regulators. One proof of BNI’s partners in Indonesia.
commitment to digital innovation through Open API is the
winning of six awards from 2020 to 2023, one being ‘The
Best Overall Developer Portal’ consecutively from 2020 to
2022, and the most recent being ‘The Best International
& Localized Portal’ by Devportal Awards and ‘The Best
Banking API Solution in Indonesia’ by AlphaSEA in 2023.
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BNI MOBILE CREDIT CARD CONTACTLESS FEATURES
As well as using the Mobile Banking application, BNI credit With its Contactless features, credit card holders can make
card services can also be accessed via the BNI Credit Card transactions easily, quickly and safely by simply holding or
Mobile application.This application makes it easy for credit tapping the credit card on the EDC Contactless machine,
card holders to receive their transaction information via without having to use a PIN (up to a certain nominal
their smartphone. BNI Credit Card Mobile is equipped with amount). Transactions can be made at any time by card
features such as billing information, recorded transactions, holders at merchants showing the contactless symbol.
installment conversions, bill payments and insurance
registration, cash withdrawals, as well as credit limit BNI MOBILE BANKING
increase application services, data updates and submission BNI Mobile Banking is one of BNI’s digital services to
of new credit card applications.BNI Credit Card Mobile meet customer needs (customer centric) and provide
also provides information about BNI Credit Card promos convenience for customers in carrying out end-to-end
and products. banking transactions, from the onboarding user process
to transactions.
E-KYC BIOMETRIC FACE
RECOGNITION & LIVENESS Currently, a variety of digital banking products and services
that focus on BNI Mobile Banking have been developed,
The use of the Biometric Face Recognition & Liveness considering that BNI Mobile Banking offers customers
feature as e-KYC in the digital credit card application process convenience in making transactions easily, anytime and
provides convenience, security and comfort for prospective anywhere. The following are products that have been
card holders in the credit card application process. developed at BNI Mobile Banking in 2023:
1. All – in – one Investment Platform
DIGITAL CARD ISSUANCE To support customers’ financial planning and help
customers achieve their life goals, BNI launched an
Digital Credit Cards can be issued to applicants who investment service, where customers can purchase
apply for BNI credit cards via digital channels, so that the various investment products and monitor various assets
card holders can use their digital credit cards to make owned on one page. Currently, customers can purchase
transactions at e-commerce merchants or carry out Secondary Bonds, SBN and Mutual Fund products from
transactions through BNI Mobile Banking. experienced Investment Managers.To help customers,
an “Investment Portfolio” menu is available and can be
VIRTUAL CARD NUMBER KARTU KREDIT BNI used to monitor the value of each asset.
BNI Credit Card feature that is used as an alternative
payment for more effective and efficient credit card 2. Personal Financial Management (PFM)
transactions, and offers comfort and convenience in online The PFM feature is an extension of the All – in – one
transactions (card not present) with a unique virtual number Investment Platform, where users can manage their
as a replacement for the original credit card number that own finances and pursue their life goals. Within this
will be used on the BNI Corporate Credit Card. group, there are various features, such as Tapenas Life
Goals and consolidated financial reports. The Tapenas
QRIS SOURCE OF DOMESTIC GOVERNMENT CREDIT Life Goals feature assists customers achieve their life
CARD (KKPD) FUNDS goals by saving regularly monthly.
QRIS payment feature with Domestic Government Credit
Card funding sources using BNI Mobile Banking aims to 3. Mobile Cash
facilitate operational spending and official travel of work The mobile cash feature makes it easy for customers
unit, both at central and regional levels with the Government to carry out cash withdrawal transactions without
Credit Card (KKP) payment scheme whose processing is needing to use a card, but simply using BNI Mobile
carried out through domestic principals. Banking. Apart from ATMs, currently the Mobile Cash
feature is also available at various merchants such as
minimarkets.Through this feature, customers can keep
their cards safe from risks (such as losing their cards)
and enjoy the convenience of cash withdrawals if they
do not carry a card when traveling.
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4. My Credit Card
Provides transactions ease and comfort for BNI Credit Card holders, BNI Mobile Banking is equipped with the My
Credit Card feature that provides credit card transaction information such as bills, recorded transactions, installment
conversions, bill payments and insurance registration, cash withdrawals, as well as credit limit increase application
services and data updates, and submission of new credit card applications. My Credit Card also provides information
about BNI Credit Card promos and products.
5. Source of Fund Kartu Kredit
Customers can carry out BNI Credit Card transactions using the QRIS feature & bill payment feature to provide
convenience & a better customer experience in carrying out transactions and paying bills using credit card funding
sources.
6. International
As a bank with a global orientation, one of BNI’s advantages is the ease of transactions between countries which
can be carried out through BNI Mobile Banking. In 2022, BNI launched several features included in this group, such
as FX Mobile (Purchase of foreign currency digitally via BNI Mobile Banking), Digital Remittance (Sending funds
between countries via BNI Mobile Banking) and International Digital Opening Account (Opening Digital Accounts in
a number of countries).
7. Lifestyle & Assorted Choices of Payment Solutions
One of the advantages of BNI Mobile Banking is personalization of customers’ daily activities. To support customer
activities, BNI provides more than 6,500 payment services (such as Telco payments, electricity payments). Apart from
that, BNI Mobile Banking also has a lifestyle feature, where users can buy entertainment and game vouchers without
needing to open another website. In the future, BNI will add more billers and other digital services, so that BNI can
enjoy a one-stop solution for a variety of payment needs.
BNI DIGICS & DIGICS LITE
BNI DigiCS & DigiCS Lite are self-service machines that
replace the activities of Customer Service (CS) officers.
With BNI DigiCS & DigiCS Lite, customers can carry out
CS activities independently (self-service). The features in
this service include opening an account, changing cards,
unblocking debit cards, activating e-channel, resetting pins,
purchasing and topping upTapcash, and printing mutation/
account history.
With the DigiCS & DigiCS Lite services, CS officers in
branches can focus on CS advisory and sales activities.
Besides that, this service also reduces customer waiting
time. Activities can be carried out quickly, easily and safely
thanks to such user friendly technology.
More details can be found at: https://digitalservices.bni.co.id
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BNI DPLK SURE
BNI DPLK SURE is an application to support the BNI DPLK TRADE FINANCE OVERSEAS
business in providing convenience and solutions for
managing retirement planning for BNI DPLK customers. One of BNI’s superior businesses that is currently still being
The services provided by BNI DPLK SURE consist of account developed isTrade Finance to support BNI’s mission, namely
opening, deposits, claims, balance information, and fund Strengthening International Services to Support the Needs
management according to the investment package chosen of Global Business Partners. Therefore, BNI continues to
by the customer. Apart from that, BNI DPLK Sure is also strive to improve the performance of its Trade Finance
connected to BNI Mobile Banking, BNI ATM, and BNI Direct application. In order to adopt SWIFT Changes in 2023,
so that customers can make transactions anytime and which impacted trade transaction processing, in 2023 BNI
anywhere. The BNI DPLK Investment Package consists of upgraded theTrade Finance (TiPlus) application in overseas
various products, namely deposits, bonds, mutual funds, branches (KCLN) Singapore and Hong Kong. This SWIFT
sharia mutual funds, and others. format update was one of BNI’s efforts to fulfill compliance
aspects with the latest regulations.
Then, apart from the main services for customers, there
are other modules in DPLK Sure, such as reconciliation, BNI MERCHANT (EDC AND QRIS)
integration, daily accrual modules, reporting modules to
regulators and operational monitoring, which strengthen This is a mobile-based application used by BNI merchants to
the reliability of DPLK Sure, while also meeting the support their daily QRIS and EDC transactions. BNI Merchant
requirements of regulators. is equipped with superior features, including same-day
merchant payments, digital merchant registration, real-time
DPLK BNI became a market leader in the pension fund transaction notifications and biometric login technology.
management industry in Indonesia since 2001. As of In the future, superior features will be added, including
December 31, 2023, DPLK BNI’s AUM (Asset Under cashier features and after sales service features.
Management) reached Rp28.62 trillion with a total of more
than 900 thousand customers, consisting of corporate and
individual customers.
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Services
and Networks
In order to support the achievement of network and service advantages and characteristics. In 2023, KLN business
business performance, BNI carries out service and network sharpening continued in accordance with the strength
development through optimizing office networks (outlets), of relations between Indonesia and the countries where
electronic networks, BNI Agen46 as well as conducting a the KLN are located. Business sharpening was also
number of process improvements. Apart from that, in an supported by strengthening the infrastructure and
effort to increase solution-based productivity for customers digital capabilities in each KLN.
so that the Product Holding Ratio (PHR) can become better 2. Improving, adding and expanding banking products
and create a customer transaction ecosystem (closed loop and services to the Indonesian Diaspora Overseas.
transaction) BNI continues to strengthen sales management 3. Expanding BNIDirect in KLN as a platform to support
at outlets. This was also one of the strategies carried out transactional banking activities to meet the expected
by BNI in 2023. needs of customers in KLN.
4. The Remittance business in 2023 focused on increasing
STRATEGIES AND POLICIES IN 2023 digital channel capacity with a faster, more transparent
and efficient service process, focusing on programs
In the increasingly competitive and fast-paced banking that have a massive impact on increasing transactions,
industry in the current digital era, BNI continues to be collaborating with related units to work on certain
committed to transforming banking services to meet segments, and growing the customer base.
increasingly complex customer demands. In 2023, BNI 5. The Financial Institution business focused on providing
focused on transforming its office network towards comprehensive products and services (one stop shop
digitalization, simplification and optimization of outlet and solution) in collaboration with subsidiaries to provide
service businesses through: optimal solutions such as transactions, digital solutions,
1. Opening 5 (five) Sub-Branch Offices (KCP) due to the banking services, financing and investment banking in
large business potential and the existence of business client segments covering regional and global business
collaboration with Corporate Banking syndicate partners.
customers in BNI financing with other banks. 6. TheTrade Finance business focused on expanding and
2. Moving the addresses of 52 (fifty two) outlets consisting penetrating into export markets through the following
of 40 (forty) outlets due to non-business factors initiatives:
(revitalization, space requirements, rental problems, a. Providing structured trade financing schemes to
force majeure, external policies, and optimization of debtors and their value chains in order to meet their
own assets), and 12 (twelve) outlets as a strategy to financing needs more accurately with a minimum
face shifting business centers. level of risk, as well as providing more competitive
3. Rationalizing 41 (forty one) outlets consisting of 28 pricing.
(twenty eight) KCPs, 4 (four) Commercial Business b. Building a trade ecosystem between customers
Centers (SBK), 1 (one) Money Changer (MC), 5 Payment and their counterparts by directing transactions to
Points (PP), and 3 (three) O-Branches by merging outlets be carried out in a closed-loop manner between
in a clustering manner as a consolidation strategy to BNI branches.
focus on an increasing coverage area and efficiency c. Increasing the number of active customers who
so as to optimize business potential and productivity. transact via BNITrade Online (BTO) as BNI’s flagship
4. In addition to structuring the office network, BNI added product by providing digital-based Trade Finance
200 (two hundred) BNI DigiCS as part of the electronic services
network to support business and outlet services, and 7. International Business Desk as an FDI Advisory Unit
moved the addresses of 399 (three hundred and ninety became an entry point to reach the business potential
nine) ATM-CRM-BNI DigiCS. of FDI companies by optimizing cooperation with
stakeholders related to trade and investment such as
As global conditions became increasingly borderless, the the Ministry of Investment, Coordinating Ministry for
international segment has a great opportunity to develop Maritime Affairs and Fisheries, KADIN, and business
business by providing integrated solutions for domestic and associations or entrepreneurs.
overseas BNI customers, from the retail to global company 8. Custodian,Trustee andTrust services business strategies
segments. The strategy used included: in 2023 include:
1. Establishing in cities at the center of world trade and a. Acquiring and adding new Custodian Bank
economy, where Overseas Branch Offices have different customers
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b. Partnering with internal BNI (related business STRATEGIES AND WORK PLANS FOR 2024
divisions and BNI branches) that have a customer In the banking industry’s increasingly competitive and
base for pension funds, insurance and corporations fast-pace in the current digital era, BNI continues to be
(non-individuals). committed to transforming its banking services to meet
c. Collaborating with Investment Managers for new increasingly complex customer demands. In 2024, BNI will
products, such as ETFs, Index mutual funds, Multi continue the transformation of its office network towards
Share Class, KIK-Dinfra. digitalization, simplification and optimization of outlet and
d. Increasing cooperation with the top 20 Investment service businesses through:
Managers in Indonesia. 1. Open 4 (four) Sub-Branch Offices (KCP) due to the large
9. Non-Bank Financial Institutions Service Strategiea business potential and business collaboration with
included: Corporate Banking customers.
a. Through Cash Loan & NonCash Loan Growth 2. Move the addresses of 63 (sixty three) outlets consisting
financing products through new and additional of 40 (forty) outlets due to non-business factors
expansion for the following types of customers: (revitalization, space requirements, rental problems,
i) Multi Finance Financing (KMK and KI) force majeure, external policies, and optimization of
ii) Securities Company Financing – KMK) owned assets) and 23 (twenty three) outlets as a strategy
iii) Insurance Financing – Commercial Line to face shifting business centers.
b. Maximizing the Provision and Utilization of Intraday 3. Change the status of 2 (two) KCPs to Branch Offices
Facilities and Providing Intraday Facilities to (KC) in an effort to optimize business based on business
Securities Companies with the following approach: area coverage ratio.
i) Underlying diversification (Bonds and Shares) 4. Rationalize 4 (four) KCPs by merging outlets in a
ii) Currency Diversification (Rp and USD) clustering manner as a consolidation strategy to focus
iii) Intraday with Customized Structure on increasingthe coverage area and efficiency so as to
c. Increased Core Funding via Dynamic Offering optimize business potential and productivity.
Program and RDN 5. In addition to the office network structuring, BNI will
i) Making Insurance Companies DPK’s Main transfer the addresses of 19 (nineteen) BNI DigiCS
Customers and 811 (eight hundred and eleven) ATMs, as part of
ii) Dynamic Placement Program in the form of a the electronic network to support business and outlet
special rate offer based on Liquidity Conditions services.
– Treasury Division
iii) Offering RDN as bundling with other products In line with the rapid development of global information
to Securities Companies technology, BNI through the International Banking &
Financial Institutions Division will respond to BNI’s business
PERFORMANCE IN 2023 growth opportunities to go global.
In accordance with services and networks strategies and The International Banking & Financial Institutions Division
policies in 2023, the following office network activities has great potential in developing business by offering
were implemented: integrated solutions for BNI customers with the vision of
1. Opened 1 (one) Sub-Branch Office (KCP) (there was a “Global Reach, Indonesian Pride”; both domestically and
change in the planned target from 5 KCPs to 1 KCP). abroad, from the retail segment to global companies. The
2. Moved the addresses of 51 (fifty one) outlets (there strategies that will be carried out in 2024 are:
was a change in the planned target from 52 outlets to 1. The Financial Institution business will carry out the
51 outlets). “Three Pronged Business Model” strategy, which will
3. Rationalized 45 (forty five) outlets (there was a change be the main key in controlling the Financial Institution
in the planned target from 41 outlets to 45 outlets). market. In this strategy, the main solution is provided
4. Added 104 (one hundred and four) BNI DigiCS (there to correspondent banks, with BNI adopting a role not
was a change in the planned target from 200 BNI DigiCS only as a tool but as a trusted banking partner that can
to 104 BNI DigiCS). provide appropriate and organized solutions for each
5. Moved the addresses of 4 (four) BNI DigiCS and 395 financial institution. The followsings can be achieved
(three hundred and ninety five) ATMs by implementing this strategy:
a. Providing the right focus for financial institutions in
Indonesia, namely local banks and BPD, not only
in providing comprehensive solutions, but also in
offering trade products, treasury solutions and also
cash management.
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b. Business expansion into the platinum and gold segments, by providing custom-made services to each entity.
This service will provide only the best to entities that have high standards and high expectations, to meet their
needs and expectations.
c. Open business relationships with new banks and collaborate to improve value based relationships.
2. The strategy that will be carried out in Non-Bank Financial Institutions will focus on the ecosystem business model,
namely:
a. Providing a system as the main solution for all the needs of NBFI customers and also their ecosystem, a system
providing a transaction space that is organized into one.
b. Cross-Selling of products owned by BNI and also BNI Subsidiaries (BNI Sekuritas, BNI Asset Management), to be
able to provide a diversified product portfolio for the unique needs of each NBFI customer.
c. Providing regulations that are easier to implement from both parties, with a more user-friendly approach, so that
customers are not burdened with long duration of time for documents, and focus more on developing their business.
3. Expand the main view of the custodian business with the following strategies:
a. Implementation of custodian client diversification, by acquiring major players in the custodian market and also
occupying a dominant position in the market.
b. Develop a competitive rate structure by looking at the main needs of each custodian client.
c. Increase the capacity and capability of custodian sales and RM Corporate as well as RM FI and RM NBFI to assist
in improving the custodian business that will be implemented. Apart from that, the development of a custodian
system (Bancs & Medallion) that is more efficient, safer and also advanced.
4. International Desk business strategy (Japan, China & Korea) as an FDI Advisory Unit that offers a one-stop solution
for FDI companies through collaboration with strategic stakeholders such as the Ministry of Investment, Coordinating
Ministry for Maritime Affairs and Fisheries, Indonesian Chamber of Commerce (KADIN), and related business
associations or entrepreneurs.
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BNI Customer
Experience Center
In line with the implementation of the New Ways of business targets;
Working (NWOW) at BNI in 2023, the BNI Contact Center 6. Carry out business process improvements that focus on
is transformed into Customer Experience Center with the improving the SLA (Service Level Agreement);
addition of Consumer Protection and Telesales functions. 7. Conduct Big Data Voice of Customer research to initiate
Through this transformation, BNI is increasingly focused on service improvements, provide feedback and lessons
providing the best experience for customers, maintaining learned.
the Company’s reputation, supporting repetitive transactions 8. Implement Consumer Protection by ensuring all
and assisting business advancement. BNI products and services comply with POJK No.6/
POJK.07/2022 (updated by POJK No. 22 in 2023).
The Customer Experience Center as one of the touch 9. Provide regular outreach and education regarding
points tries to offer the best service in a prompt, easy, Consumer and Community Protection through social
and economically manner to get information, carry out media platforms.
transactions and obtain solutions to every problem through
an integrated omni channel platform equipped with high BNI Customer Experience Center is committed to always
flexibility and agile technology. maintaining and improving service quality by making
continuous improvements through a variety of innovations
STRATEGIES AND POLICIES IN 2023 that focus on customer centricity to improve customer
experience as a form of supporting BNI’s strategy towards
In order to create BNI as a beyond traditional bank and sustainable business.
become a financial service provider entity that offers all-
digital services, BNI continues to make adjustments in digital PERFORMANCE IN 2023
transformation. In 2023, the Customer Experience Center
has realized all strategic plans for 2023 in line with BNI’s The strategies, policies and work programs implemented
vision “To become a Financial Institution with Sustainable have successfully led the Customer Experience Center
Service and Performance Excellence” and supports BNI Go to attain various achievements throughout 2023, both at
Global towards banking digital transformation. The work the national and international levels. In supporting BNI
plans that have been realized are as follows: Go Global, the Customer Experience Center is ready to
1. Optimizing and increasing the capabilities of digital compete with other Contact Centers throughout the world.
services and social media that are integrated into one Achievements made during 2023 include:
platform, in order to continue shifting call services to 1. The Customer Experience Center won the 2023 Top
digital services and to improve customer experience Brand Award in Call Center category. The Top Brand
when interacting with the bank; Award is given to superior brands with extraordinary
2. Optimization and development of self-service performance in the Indonesian market by referring to
features on digital services, so that customers can theTop Brand Index survey.This shows that BNI through
make complaints digitally and automatically receive the Customer Experience Center has provided the best
notification of the progress of complaint resolution; performance to serve customers.
3. Increasing the competency and capability of human 2. Achieved the top position in 3 (three) categories of Bank
capital who are ready to adapt to change (agile) towards Service Excellent Monitor (BSEM) survey results from
digital transformation and preparing superior, tech Marketing Research Indonesia (MRI), namely:
savvy human capital, who can provide value creation to a. Best Call Center Performance;
the Company with the Millennial, Digital and Fun spirit; b. Best Phone Banking Performance;
4. Supporting business and sales activities by carrying out c. Best Performance Excellent Contact Center Service.
cross selling through referral programs as an effort to 3. Won 19 (nineteen) medals in various categories at the
increase fee based income for BNI; 18th Annual Best in Asia Pacific – Contact Center World
5. Creating customer satisfaction and loyalty as well as competition which was attended by various countries
a sense of comfort with BNI Call 1500046, 1500098, and companies from Asia Pacific, with the following
1500146 services and digital services by focusing on medals:
improving internal processes, growth and learning, as a. 3 (three) Gold medals;
well as risk mitigation to support the achievement of b. 6 (six) Silver medals;
c. 10 (ten) Bronze medals.
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4. Received 12 (twelve) medals in various categories in BNI so that it can shorten business processes that have
The Best Contact Center Indonesia 2023 competition. an impact on accelerating the resolution of customer
This competition was attended by various industries complaints.
from banks, insurance to public services (Government).
The medals received were as follows: 3. Conversational Platform
a. 2 (two) Platinum medals; In supporting digital transformation, BNI is ready to
b. 2 (two) Gold medals; offer beyond services to customers by providing digital
c. 2 (two) Silver medals; channels so that customers can interact with BNI to get
d. 6 (six) Bronze medals. information or submit complaints more economically,
5. 5. Received the 2023 Public Information Transparency easily and quickly. Interaction can be done via chat on
Award with an Informative Predicate.This achievement several platforms such as WhatsApp Business, Ask BNI
reflects BNI’s consistency in providing digital access to on BNI Mobile Banking application, and BNI Call Virtual
information and improving services through optimizing Assistant application. These three platforms are called
various touch point. Conversational Platforms. Customers can be served by
6. The Customer Experience Center has become the chatbot or with Customer Experience Center officers.
benchmarking place of choice for banking and non-
banking Contact Centers in Indonesia.Throughout 2023, 4. Accelerating complaint resolution through business
there were 8 (eight) companies that have carried out process review and Service Level Agreements (SLA)
benchmarking in the Customer Experience Center.This acceleration
shows that the Customer Experience Center has become The commitment of Customer Experience Center to
the benchmark for Contact Center Services in Indonesia. providing excellent service to BNI customers is also
realized through collaboration with the entire value
INNOVATIONS IN 2023 chain at BNI to review business processes and accelerate
SLAs so that customers can have a better experience
To strengthen digital banking service capabilities, the with ease and speed in complaint resolution.
Customer Experience Center continues to be committed
to carrying out sustainable development through a number CONSUMER PROTECTION
of innovations in 2023, aiming to improve customer
experience: BNI continues to improve its customer data protection using
1. Contact Center Refreshment the facilities and infrastructure it already has. There are
The Customer Experience Center conducts continuous several challenges faced, such as: asymmetric information
improvements to maintain and improve service when selling financial products, sociological aspects in
quality. Therefore, the Customer Experience Center society that is easily tempted by illegal and potentially
has upgraded and refined the Contact Center System detrimental investment offers, protection of consumer
towards a better Omni Channel. Several capability data and personal information, developments in financial
improvements done in 2023 are: technology, integration of consumer protection regulations,
a. Contact Center application technology with high as well as related transactions between countries or cross-
availability services and agile technology to border transactions.
accommodate customer needs to be able to access
services 24 hours a day; Through the implementation of NWOW in 2023, a Consumer
b. Implementation of Speech Analytics, which functions Protection Department was established under the Customer
to facilitate analysis of the voice of customers Experience Center Division, which has the function of
so that the entire value chain at BNI can make Consumer and Community Protection in accordance
improvements to products and services; with the provisions in POJK No. 6/ POJK.07/2022 article
c. Implementation of Desktop Processes Analytics 46 paragraph 1 (which was updated with POJK No. 22 of
(DPA) to increase customer data security, since data 2023 article 88 paragraph 1).
protection is important to provide a sense of comfort
to customers. To maximize the function of Consumer and Community
Protection within BNI, the following strategies need to be
2. Customer Journey Platform Application Improvement implemented:
On an ongoing basis, the Customer Experience Center 1. Implementation of systems and procedures in
continues to improve one of the applications that accordance with existing regulations through the
displays the customer journey, namely Online Request creation of company guidelines regarding Consumer
Management (ORM), so as to create the same customer and Community Protection, which apply throughout
experience when interacting at all BNI touch points. BNI (BNI Wide) and are equipped with manuals both
Optimizing the use of this application at all BNI touch in hardcopy and digital (e-book);
points. This application is used by the value chain at
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2. Hold massive education and outreach on Consumer 2. Launched the Instruction Book “Implementation of
and Community Protection through various channels Consumer and Community Protection” as an education
in BNI, both face-to-face and digitally through video and outreach program, as well as a guide for BNI
content utilizing BNI’s social media platforms; employees in implementing Consumer and Community
3. Establish standard reporting mechanism for both Protection;
reports to internal management (Board of Directors 3. Created social media accounts as the most efficient and
and Board of Commissioners) and reports to regulators effective way to carry out education and socialization
(OJK and BI), with the aim of ensuring accountability for of Consumer and Community Protection programs,
every report and information generated and released. which contain content about awareness and campaigns
4. Ensure the implementation of the 7 (seven) product against fraud modes.
cycles when designing, providing and conveying
information, offering, drafting agreements, providing STRATEGIES AND WORK PLANS FOR 2024
services for the use of products and/or services, as
well as handling complaints and resolving disputes In line with the Customer Experience Center’s mission,
in accordance with regulations in an effort to realize namely creating positive perceptions through the customer
Consumer Protection. journey to build strong relationships with customers and
encourage repetitive business growth, the Customer
To protect and ensure consumer rights when transacting Experience Center is committed to improving service quality
or using BNI products and services, the principles of through several strategies and work plans for 2024.
fair behavior and responsible business behavior are the
main foundation.The purpose of implementing these The prepared strategies focus on improvement and
principles is that BNI aims to continuously improve equality, enhancement in technology, people, process and risk,
opportunity and accessibility for all customers and society, include the following:
including people with disabilities. This is in accordance 1. Increase employee competency through training in
with POJK Number 6/POJK.7/2022 article 6 and article 35 order to create digital mindset, analytical thinking,
(updated by POJK No. 22 of 2023 article 54) concerning the communication sales skills, CX Sales and service
responsibilities of Financial Services Businesses (PUJK) to orientation
provide special services for people with disabilities. 2. Accelerating complaint resolution through accurate
data input and improving SLA for complaint resolution
At present, BNI already has service and infrastructure 3. Review and create SOPs to improve processes,
standards to facilitate people with disabilities to access increase service quality and mitigate risks regarding
financial services, both savings products and business the implementation of employee activities
capital support in the form of credit/financing for disabled 4. Optimization of digital services to improve service &
MSMEs. These facilities further ease customers with Sales.
disabilities to conduct transactions and interacting with BNI. 5. Improving business processes through optimizing
analytical data and voice of customer that supports
In implementing Consumer and Community Protection, the Company’s business
BNI has carried out a series of activities, including: 6. Optimizing the supervisory function on the
1. Held a Talkshow with the theme ‘Customer Protection implementation of work activities according to SOPs,
Implementation to Improve Customer Experience’ by authority management and data access arrangements
inviting 2 (two) speakers, namely Chief Executive of to reduce the risk of operational fraud
PUJK Supervision, Education and Consumer Protection 7. Make optimal use of social media analytics
as well as member of OJK Board of Commissioners 8. Integrating the Voice over Internet Protocol (VoIP) feature
(Friderica Widyasari Dewi) and the President’s Special on the BNI e-Channel as a medium for customers to
Staff for Social Affairs (AngkieYudistia).The discussion contact BNI Call via the internet network..
focused on understanding Consumer and Community
Protection as well as ensuring equal services for
customers with disabilities;
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Data Management
and Analytics
STRATEGIES AND POLICIES FOR 2023 4. Improve customer data quality to improve the quality
of accuracy of various types of data, reports, analytics
Continuous improvements in data management and and leads so that it can support increased business
analytics is being undertaken to support the achievement performance.
of BNI’s vision of becoming a leading financial institution 5. Implementation of the use of Master Data Management
in sustainable service and performance. In 2023, there (MDM) for a single customer view.
were 3 (three) key strategies for the Data Management &
Analytics Division (DMA) expected to be able to support INNOVATIONS IN 2023
BNI’s business performance and regulatory compliance
aspects, namely increasing HR capabilities in Data Analytics Facing the era of digital transformation, the DMA
and information management systems, implementing data Division carries out continuous improvement with a
science and business analytics capabilities, and optimize focus on providing data and analytics to support the BNI
Single Source of Truth Data (SSOT). Transformation Project.The following are activity highlights
from the DMA Division during 2023, including:
Throughout 2023, various analyses of business potential 1. Analytics-based pipeline management: Utilization of
and potential leads, reports and dashboards have analytics to manage pipeline/potential customers from
been produced which have been utilized to support the individual and non-individual segments to increase
achievement of business targets. The DMA Division sales conversions. Offers are made through several
continues to make improvements in the data management channels such as the BNI Mobile Banking application,
aspect, modernizing reports in the form of dashboards Digisales and RMTools. Using analytics-based pipeline
and quality data analytics system capabilities and human management is expected to provide a more personalized
resources which are expected to improve the quality of experience and increase customer engagement.
analysis results so as to help in decision making. The DMA 2. DNA analytical platform: An analytical platform
division also produces AI-based analysis using state-of-the- developed to make it easier for RM to provide
art methods which are utilized for business, operational and business solutions to corporate clients/business
risk improvements. The results of the analysis are realized banking, including by providing recommended
in several RACE digital transformation priority projects to products according to business profiles and behavior
encourage business growth for each segment. transactions. Using this platform, RM can provide
optimal solutions according to customer needs.
The focus of Data Management & Analytics in 2023 is as 3. Dashboard optimization: Improvements to contents,
follows: performance, visual design, dashboard deployment
1. The effectiveness of analytics in generating quality leads procedures and access control to increase the
has an impact on improving business performance, effectiveness of dashboards in delivering performance
namely by: evaluations and decision making. BNI Dashboard can
a. Improve selling, namely identifying the potential present segment and channel performance reports at
for cross selling more effectively, as well as regional to outlet level. It is hoped that the dashboard
implementing a strategy that is tailored to insight can provide relevant information and can help business
(tailored strategy). units improve their portfolios.
b. Scale up better, namely analytics-based decision 4. Business Glossary Dashboard & Data Catalog: Providing
optimization so that it can be carried out on a large a Business Glossary Dashboard includes business
scale based on learning from past campaigns/ element data and its definitions and providing a Data
execution. Catalog Dashboard includes source system information
2. Developing people development/human resource and its attributes. It is hoped that the existence of easily
(HR) capabilities through development, training and accessible data definition information can increase the
certification which is expected to accelerate adaptation understanding of information used and assist in making
to change. the right decisions.
3. Optimizing the use of Big Data to produce various types
of reports and dashboards including segments, products
and channels.
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STRATEGIES AND WORK PLANS FOR 2024
The DMA Division supports business growth in accordance with the bank’s business plan by increasing system and
human resource capabilities, clear and transparent reports, delivering excellent analytical results, and strengthening
the data governance function. In 2024, DMA will focus on strategies in terms of decision support and management
information systems in the form of:
1. Increasing human resource (HR) capabilities in the fields of data engineering, data analytics, data science and data
visualization through on-the-job development, training and certification which is expected to accelerate innovation
and adaptation to industrial developments.
2. Implementation of advanced analytics to support sustainable increases in AUM, CASA and FBI for the business. The
advanced analytics in question include machine learning, graph analytics, Gen AI, and geoanalytics.
3. Developing business potential and value chain analysis by referring to top tier customers and providing analytics/
leads effectively and efficiently by optimizing on digital platforms.
4. Providing insight & monitoring reports on one platform to create an undisputable single source of information.
This platform can be accessed by divisions, regions, and even the Foreign Office (KLN) with user access using CISO
security standards.
5. Developing self-service analytics which makes it easier to process data and access to units in the bank so that the
collaborative analysis expected can be created and improve the data driven culture throughout the BNI environment.
6. Implementation of Master Data Management (MDM), modernization of the Data Warehouse and enhancement of
the business intelligence platform to increase productivity in terms of technology and systems to support increased
business performance.
7. Support the implementation of the Personal Data Protection Law (UU PDP) at BNI to be able to protect customers’
fundamental rights, as a comprehensive legal umbrella, playing a role in encouraging reform of customer data
processing practices.
8. Increasing Research and Development in continuously exploring data analytics methodologies, techniques and
technology to support BNI to always be at the forefront, especially in the field of Data Analytics.
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Service Quality
Function
IMPROVING SERVICE QUALITY AS ONE ii) Intermediate
OF THE STRATEGIES TO ENCOURAGE This stage is an advanced stage after participants
BNI BUSINESS ACCELERATION have completed the entire series of learning
at the Basic stage, the materials are adjusted
Increasingly tight competition in the banking world requires according to the position (Customer Service,
every company to realize that customer satisfaction is not Teller, and BNI Digital Assistant). At this stage,
just an option, but a necessity. When customers are satisfied participants will also receive materials with the
with the services provided, they tend to return for more form as delivered in the Basic stage.
transactions, which can indirectly support the company’s iii) Advanced
reputation and existence. In line with the Company’s vision This is the final stage of the FLA program after
To become a Financial Institution with Sustainable Service participants have completed the Basic and
and Performance Excellence, BNI continues to innovate and Intermediate stages. At this stage, the delivery
improve customer-centric service quality and standards of materials are using in class training method.
to become one of the energies in accelerating business
achievements at all BNI touch points. At the end of the FLA program, participants will
be assessed based on 4 (four) overall aspects to
SERVICE DEVELOPMENT STRATEGY determine graduation, namely Post Test, Roleplay,
Circle 3 Evaluation (Change Behavior), and Circle
Innovations and strategies to improve service quality are 4 Evaluation (New CIF Achievement).
continually undertaken. BNI has outlined 3 (three) strategic
steps to improve services, namely Customer Preference b. Upscaling Capabilities
Enhancement, Outlet Productivity Improvement, and and The knowledge and understanding refreshment
Optimizing Service Digitalization. program for frontliner officers as part of a strategy
to improve, accelerate and equalize service quality
A. Customer Preference Enhancement to all frontliners from all branches/outlets.
1. Enhancing the capabilities of officers at all customer
touch points to provide fast, personalized, solution c. Sharing Information Regarding Operations and
and business creation services. This strategy includes: Services (SIS OLA) of Branches/Outlets
a. Frontliner Academy (FLA) SISOLA is an online program by presenting resource
Learning program for all frontliners, to increase persons from product/business owners or related
competency standards in understanding BNI supporting units. This program aims to improve
products and services, work culture, precautionary the performance and quality of frontliner officers
principles and implementation of risk culture and in providing services and solutions in accordance
anti-fraud awareness. with customer expectations that is expected to lead
to accelerating business targets achievement.
The FLA program consists of 3 (three) stages and
each stage has the following learning methods: 2. Measurement and monitoring of service quality
i) Basic performance in accelerating business at outlets and
At this stage, frontliners will receive materials as a the channels to obtain direct feedback from
related to introduction and general banking customers regarding business, service and operational
knowledge through self-learning, delivered in improvements, include:
the form of e-learning for the entire series of a. Customer Satisfaction Survey (CSS)
learning at the Basic stage, where the material A means to understand and measure the level of
is adapted to the position (Customer Service, satisfaction of BNI customers, both external and
Teller, and BNI Digital Assistant). At this stage, internal customers, regarding the quality of services
participants will also receive a format for provided by BNI. CSS consists of two evaluation
delivering material in the Basic stage. aspects, namely, Business Satisfaction Survey (BSS)
and User Satisfaction Survey (USS):
i) Business Satisfaction Survey (BSS)
The survey is conducted on BNI external
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customers consisting of the Business Banking and outlets so as to create a positive customer
segment (Corporate, Medium and Small) and the experience for customers.
Consumer Retail segment (Emerald and Non- c. Branch Visit & Fact Finding
Emerald). The aspects assessed in this survey A program aimed at improving the quality of
include the 7P aspects, namely: product, price, frontliner services to support the outlet’s business
place, promotion, people, process and physical improvement and increase the unit’s Compliance
environment. Risk Awareness in carrying out operational activities
ii) User Satisfaction Survey (USS) and services according to regulations.
The survey is conducted on internal BNI d. Online CCTV Monitoring
customers (BNI employees) with the aim of One of the monitoring tools is CCTV media, aiming
measuring the level of satisfaction with BNI’s to measure the consistency of frontliner service
internal service performance, so as to obtain when serving customers at branches/outlets in real
a basis for improving the service quality of time.
Divisions/Units/Functional Units.The assessment e. CCTV Outlet Monitoring
aspects in this survey include: Coordination, Apart from using online CCTV media for real-time
Communication and Cooperation; Work Results/ monitoring, BNI also maximizes monitoring through
Output; Work process; Commitment/SLA; CCTV outlet recordings to track frontliner service
Employee; and Data & Information. activities and ensuring compliance with established
service standards.
b. Service Experience Index (SEI) f. Google Customer Reviews
A system for measuring and monitoring the quality This is one of the strategies to maintain the good
of BNI services covering all regions, branches rating of all BNI outlets on Google Maps. Google
and outlets, which is carried out periodically and Customer Review allows the assessment of BNI’s
continuously. SEI is measured through 3 (three) credibility by looking at the rating review of each
dimensions with strong level of independence, branch/outlet on Google Maps. With this service, the
allowing the measurement results to reflect the public can post reviews on Google Maps about their
outlet’s service conditions more realistically. The experiences with BNI’s services and products. The
three dimensions are: review results serve as input for BNI to consistently
• Dimension 1: BNI Service Performance in National maintain the Company’s reputation, ensuring that
Banking Industry there are no negative sentiment towards BNI.
• Dimension 2: Customer Experience g. BNI Service Rating
• Dimension 3: People Competency This is one of the tools or aids used by BNI to
measure the level of customer satisfaction (feedback)
The objectives of the Service Experience Index (SEI) on the services received. Customers provide direct
are: assessment (rating), enabling follow-up actions for
• Regularly measure and monitor service quality improvement or enhancement (evaluation) at each
performance at all outlets using measurement branch office and outlet.
methods that have a strong level of independence,
allowing the measurement results to become B. Improvement of Outlet Productivity
more objective and realistic. Enhancing the capability of service officers to identify
• As a driver for all outlets to improve business customer needs with service solutions through increasing
through improvements and enhancements to digital transactions via shifting transactions to digital, as
the quality of their services to customers as well well as strengthening and optimizing automation and digital
as providing support to achieve BNI’s service and devices to improve the quality of service to customers.
business targets. Activities carried out include:
• As a trigger for enthusiasm for all outlets to offer 1. Optimizing the Role of BNI Digital Assistant (BDA)
the best service to all their customers. As the main layer in shifting customer transactions
• Develop a service culture in all regions, branches to automation and digital devices, BDA proactively
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encourages customers to experience digital transactions through interactive campaigns in outlets.This is one through
personal approach and interacting with customers waiting in the transaction queue at the banking hall by offering
solutions for customer transaction needs using BNI Digital products and explores potential customers opportunities,
which can be referred to related business units for follow-up.
2. New Channel Model
BNI has carried out Corporate Transformation Program as a comprehensive business transformation effort in all
aspects and decided on 5 (five) outlet formats, which are differentiated according to location and specific customer
needs. This outlet is supported by a layout that carries the zoning concept and is equipped with integrated e-channels
and digital tools.
The outlet format refers to the type of location and business model used to provide banking services to customers
which varies depending on the city tiering (Top Metro, Metro, Urban and Rural) and transaction complexity, resulting
in the Super Flagship, Business Flagship, Thematic, Digital First and Smart Conventional formats.
New Outlet Format:
a. Super Flagship
Super Flagship is an outlet format for branch offices that functions as a financial supermarket for all customers,
especially wholesale and priority banking customers and is dominated by Emerald’s AUM (Asset Under Management)
portfolio and a high number of diamond clients.
b. Business Flagship
This outlet format has relatively complete facilities in terms of people, authority, infrastructure and can be equipped
with a business lounge (according to needs), especially to support the activities of wholesale and commercial/
SME customers with a high number of transactions. The Business Flagship Outlet can function as a community
center for all customers, especially wholesale customers in the Top Metro, Metro and Urban city tiers.
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c. Thematic
This format is designed in such a way that it fits the location and environment of the outlet. There is a dedicated
space designed according to the theme, ensuring comfort and customer experience are prioritized.
Thematic design can be adapted to the lifestyle around outlets such as tourist/tourism locations (experience
center), education, business (community center), upscale residences (experience center), medical/hospital, and
can also be adapted to the scope of business being handled by OBO outlets (Outlet Business Optimization) or to
serve wholesale transactions.
Thematic Outlet city tiering is inTop Metro, Metro and Urban, for example buildings or located in offices, universities,
housing, hospitals and tourist attractions.
d. Digital First
Digital First outlets are dominated by e-channel machines, where customer transaction activities at these outlets
are directed to be completed on the e-channel machines. Digital First outlet city tiering can be inTop Metro, Metro,
and Urban, for example buildings or located in malls, stations and airports.
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e. Smart Conventional
It is an outlet format with current conditions but provided with an e-channel machine and customer service using
a flow that is oriented towards digital transactions.
C. Service Digitalization Optimization
Implementation of service strategies for all digital channels based on automation and self-service can be enjoyed by
customers/potential customers along with conventional-based services. This optimization takes the form of:
1. Branch Digital Services
a. DigiCS
Digital customer Service at BNI, in the form of a DigiCS machine, resembles an ATM machine but offers different
functions and features presented by BNI to meet the super-fast banking service needs for customers and the public.
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b. b. BNI SPRINT (Self Service Passbook Printer) BNI’S ACHIEVEMENT IN OFFERING QUALITY
Self-service printing services for customers’ books SERVICE AT EVERY TOUCH POINT
and bank statements.
c. T-Care One of the efforts to realize BNI’s vision of becoming the
Self-service Cash Withdrawal and Deposit services Leading Financial Institution in Sustainable Service and
that can be performed as needed. Performance, BNI continues to be committed to maintaining
and improving service quality at every touch point which
2. Digital Account Opening leads to creating customer satisfaction and loyalty. The
An application owned by BNI aims to expedite and ongoing spirit of BNI in ensuring service excellence has
simplify the opening of BNI savings account. With this resulted in prestigious achievements and awards from
application, new customers can carry out the account several independent rating agencies in the banking sector,
opening process via the application on their Android including:
cellphone without the need to visit a BNI branch/outlet A. Banking Service Excellence Award 2023 by Infobank
Magazine and Marketing Research Indonesia (MRI):
3. Biometric Fingerprint 1. The Best Government Bank in Banking Service
A verification tool for the accuracy of customers/ Excellence Award 2023
protective customer identities by matching fingerprints 2. Titanium Recognition - 15 ConsecutiveYears In Service
when opening an account or data maintainance and Excellence
supervisor authorization.This Biometric Fingerprint also 3. #1 Rank in Digital Channel In Service Excellence
serves to expedite and simplify the process of opening 4. #1 Rank in Contact Center In Service Excellence
a BNI account for new customers and mitigate the risk 5. #1 Rank in Convenient Branch Experience In Priority
of processes without customer presence. With this tool, Service
operational risks (fraud) caused by account opening, 6. #1 Rank in Call Center
data maintainance, and transactions without customer 7. #1 Rank in Phone Banking
presence as well as misuse of User Id/Password can 8. #2 Rank in Service Excellence
be mitigated. 9. #2 Rank in E-Banking In Service Excellence
10. #2 Rank in Mobile Banking
The biometric fingerprint module consists of: 11. #2 Rank in ChatBot
a. Enroll (customer fingerprint recording)
b. Account Opening B. Infobank - MRI Satisfaction, Loyalty, & Engagement
c. Transaction Award 2023 by Infobank Magazine and Marketing Research
d. Customer Data Maintenance Indonesia (MRI):
e. Supervisor Authorization 1. The Strongest Customer Engagement KBMI 4 Bank
2. #2 Rank in Most Satisfying KBMI 4 Bank On Branch
As of December 2023, biometric fingerprints have been Office
implemented in 1,145 of 1,786 outlets (64%) with the 3. #2 Rank in Most Satisfying KBMI 4 Bank in Customer
following data: Service
• 195 KC (100%) 4. #2 Rank in Most Satisfying KBMI 4 Bank InTeller Service
• 950 KCP (60%) 5. #2 Rank in Most Satisfying KBMI 4 Bank On ATM Service
6. #2 Rank in Most Satisfying KBMI 4 Bank in Mobile
4. BNI Orange Magz Banking
One of the services with a web-based platform that 7. #2 Rank in KBMI 4 Bank In Customer Loyalty
provides information about products and services 8. #2 Rank in KBMI 4 Bank In Customer Satisfaction
accessible and readable by customers. Through this 9. #3 Rank in KBMI 4 Bank in Marketing Engagement
facility, the customers can decide to choose the product
and service selection before being assisted by customer
service officers. It also serves as a tool for officers to
make product and service referrals for cross-selling/
up-selling activities.
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C. Excellent Service Experience Award (ESEA) 2023 by Marketing Magazine & CCSL (Carre Center for Customer Satisfaction
& Loyalty)
The best Bank KBMI IV in providing positive experiences to customers - Exceptional Performance in Delivering Positive
Customer Experience 2023.
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430 Capital 432 Risk Management Practices 466 Risk Exposure Disclosure
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Capital
MANAGEMENT POLICY ON
CAPITAL STRUCTURE
BNI manages capital adequacy to meet regulatory 2. Calculate KPMM according to BNI’s risk profile. Based on
requirements as well as capital adequacy to cover risks POJK No. 11/POJK.03/2016 concerning Minimum Capital
managed by BNI and support BNI’s business strategy. The Requirements for Commercial Banks as amended several
aim of capital structure management is to ensure that times, most recently by POJK No. 27 of 2022 dated 26
BNI always maintains sufficient capital to cover the risks December 2022, states that risk profile rank 2 (low to
inherent in managing its business without reducing the moderate) has a minimum CAR of 9% to less than 10%.
optimization of value for shareholders. BNI’s KPMM matches BNI’s risk profile at 9.8%.
3. Apart from calculating KPMM based on minimum
In calculating capital adequacy, BNI refers to the provisions capital according to the risk profile, BNI also calculates
of the Financial Services Authority (FSA), including the additional capital as a buffer, if a financial and economic
following: crisis occurs which could disrupt the stability of the
financial system.The additional capital is in the form of:
1. Financial Services Authority Regulation no. 11/ a. Capital Conservation Buffer of 2.5% (two point five
POJK.03/2016 concerning Minimum Capital percent) of Risk Weighted Assets (RWA).
Requirements for Commercial Banks as amended several b. Countercyclical Buffer of 0% (zero percent) of Risk
times, most recently by Financial Services Authority Weighted Assets (RWA).
Regulation No. 27 of 2022 dated 26 December 2022. c. Capital Surcharge for Systemic Banks is 1.5% (one
2. Financial Services Authority Circular No. 26/ point five percent) of Risk Weighted Assets (RWA).
SEOJK.03/2016 dated 14 July 2016 concerning Minimum
Capital Requirements for Commercial Banks according As of December 31 2023, BNI has a CAR of 22.0% (bank
to Risk Profile and Fulfillment of Capital Equivalency only) and 23.2% (consolidated). BNI’s total minimum CAR
Maintained Assets. is at the level of 13.8%, so BNI’s CAR in 2023 has met the
BNI calculates the Minimum Capital Requirement (KPMM) provisions of the banking and financial services regulator.
to measure BNI’s capital ability to absorb risk, namely in
stages:
1. Calculate the adequacy of the minimum capital provision
using several risk weighted asset (RWA) measurement
methods as follows:
a. Credit Risk: Standardized Approach and Internal
Rating Based Approach.
b. Market Risk: Standardized Approach and Simplified
Standardized Approach.
c. Operational Risk: Standardized Approach.
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In terms of capital structure, until December 2023, BNI has core capital (Tier-1) of IDR130,937,557 million (bank only)
and IDR147,488,111 (consolidated) as well as supplementary capital (Tier-2) of IDR11,078,832 million (bank only) and
IDR11,542,216 (consolidated) with Tier-1 CAR ratios reaching 20.2% (bank only) and 21.5% (consolidated).
CAPITAL STRUCTURE DETAILS
A detailed description of the capital structure is presented as follows:
Capital Structure Table
Description 2023 2022
Core Capital (Tier 1) IDR130.937.557 million IDR118.936.340 million
Main Core Capital (CET 1) IDR121.699.357 million IDR109.595.840 million
Complementary Capital (Tier 2) IDR11.078.832 million IDR12.399.543 million
Total Capital Available IDR142.016.389 million IDR131.335.883 million
RWA for Credit Risk IDR609.160.539 million IDR586.141.753 million
RWA for Market Risk IDR2.811.621 million IDR2.244.275 million
RWA for Operational Risk IDR34.966.876 million IDR92.998.494 million
Total RWA IDR646.939.036 million IDR681.384.522 million
CAR ratio 22,0% 19,3%
Rasio CET 1 18,8% 16,1%
Rasio Tier 1 20,3% 17,5%
Rasio Tier 2 1,7% 1,8%
Minimum CAR Based on Risk Profile 9,8% 9,8%
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Risk Management
Practices
Risk management functions to protect capital and to BASIS FOR APPLICATION OF
optimize returns against risk. The large business scale, RISK MANAGEMENT
the wide operational coverage, and the increasing business
volume require BNI to implement an integrated risk BNI’s Risk Management is based on national and
management pattern to identify, measure, monitor, and international regulations, including Financial Authority
control all risk exposures. Regulations (FSA), Financial Authority Circular Letters
(SEOJK), Bank Indonesia Regulations (PBI), Bank Indonesia
Risk management at BNI is carried out in line with business Circular Letters (SEBI), and Basel Committee on Banking
strategy. The implementation of risk management is Documents Supervision (BCBS).
proactive and forward looking with the aim of maximizing Several regulations related to the Bank’s Risk Management
added value for all stakeholders, managing capital include:
comprehensively, and ensuring profitability and sustainable 1. Implementation of Risk Management
business growth. a. Law of the Republic of Indonesia no. 4 of 2023 dated
12 January 2023 concerning Development and
In its business practices, BNI develops innovative products Strengthening of the Financial Sector.
and services sustainably which is supported by digital b. Minister of State-Owned Enterprises (BUMN)
technology and reliable networks. BNI consistently Regulation No. PER-2/MBU/03/2023 dated March
implements a Risk Management process in every business 3 2023 concerning Guidelines for Governance and
process and operational activities that lead BNI to become Significant Corporate Activities of State-Owned
a sound and sustainable bank. Enterprises.
c. Financial Services Authority Regulation no. 18/
To ensure that the implementation of Risk Management POJK.03/2016 dated 16 March 2016 concerning the
runs effectively, its implementation must be based Implementation of Risk Management for Commercial
on Risk Governance which clearly regulates roles and Banks, as partially revoked by Financial Services
responsibilities, decision-making processes, linkages Authority Regulation no. 13/POJK.03/2021 dated
between risk management functions, and the establishment 30 July 2021 concerning the Implementation of
of policies that ensure that risks are managed well. Commercial Bank Products.
d. Financial Services Authority Circular No. 34/
BNI has adequate policies, risk tolerance and risk limits SEOJK.03/2016 dated 1 September 2016 concerning
which are regularly reviewed and approved by the Board the Implementation of Risk Management for
of Directors and Board of Commissioners. BNI also has Commercial Banks.
adequate processes for identifying, measuring, monitoring 2. Implementation of Consolidated Risk Management with
and controlling risks on an ongoing basis for all material Subsidiaries.
risk factors, supported by a Risk Management Information a. OJK Regulation no. 38/POJK.03/2017 dated
System.The effectiveness of the implementation of the BNI July 12,2017 concerning the Implementation of
Risk Management Information System includes: Consolidated Risk Management for Banks that
1. Availability of information that is accurate, complete, Exercise Control over Subsidiaries.
informative, timely, and can be used by the Board of b. OJK Circular Letter No. 43/SEOJK.03/2017 dated
Commissioners, Directors and related work units in July 19, 2017, concerning Prudential Principles and
implementing Risk Management to assess, monitor Reports for the Implementation of Consolidated Risk
and mitigate risks faced by BNI, both overall risks and Management for Banks that Exercise Control over
per type of risk. Subsidiaries.
2. The effectiveness of implementing Risk Management 3. Implementation of Integrated Risk Management.
includes policies, procedures and setting risk limits. a. OJK Regulation No. 17/POJK.03/2014 dated November
3. Availability of information about the results (realization) 18, 2014, concerning the Implementation of Integrated
of implementing Risk Management compared to Risk Management for Financial Conglomerates.
targets set by BNI in accordance with risk management b. OJK Regulation No.18/POJK.03/2014 dated November
implementation policies and strategies. 18, 2014 concerning Implementation of Integrated
Governance for Financial Conglomerates, as partially
amended by OJK Regulation No.45/ POJK.03/2020
dated October 14, 2020 concerning Financial
Conglomerates.
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c. OJK Regulation No. 26/POJK.03/2015 dated December 6. Business Continuity Management
11, 2015 concerning Integrated Minimum Capital a. OJK Regulation No.14/POJK.03/2017 dated April 04,
Adequacy Requirements for Financial Conglomerates; 2017 concerning Action Plans (Recovery Plans) for
d. OJK Circular Letter No. 14/SEOJK.03/2015 dated May Systemic Banks.
25, 2015 concerning the Implementation of Integrated b. Deposit Insurance Corporation (LPS) Regulation
Risk Management for Financial Conglomerates. No.1/2021 dated March 29, 2021 concerning
e. OJK Circular Letter No.15/SEOJK.03/2015 dated May Resolution Plans for Commercial Banks.
25, 2015 concerning Implementation of Integrated
Governance for Financial Conglomerates. BANK RISK MANAGEMENT POLICY
f. Minister of State-Owned Enterprises Regulation
No.PER-2/MBU/03/2023 dated March 24, 2023 Risk is the potential loss due to the occurrence of a certain
concerning Guidelines for Governance and Significant event. Risk in the banking context is a potential event, both
Corporate Activities of State-Owned Enterprises. expected and unexpected, which has a negative impact on
g. Decree of the Deputy for Finance and Risk the Bank’s income and capital.
Management of KBUMN No. SK-3/DKU.MBU/05/2023
dated May 26, 2023 concerningTechnical Instructions Risk management is a series of methodologies and
for the Composition and Qualifications of Risk procedures used to identify, measure, monitor and control
Management Organs within State-Owned Enterprises. risks arising from all Bank business activities, including
4. Bank Health Level Assessment (TKB) efforts to mitigate and/or minimize financial and non-
a. Financial Services Authority Regulation no. 4/ financial losses that may arise from Bank products or
POJK.03/2016 dated January 26, 2016 concerning activities, the relationship between Bank with customers,
Assessment of the Soundness Level of Commercial other third parties and within the Bank.
Banks.
b. Financial Services Authority Circular No. 14/ RISK MANAGEMENT PRINCIPLES
SEOJK.03/2017 dated March 17, 2017 concerning To implement effective risk management, BNI applies the
Assessment of the Health Level of Commercial Banks. following principles:
5. Capital 1. Integrated
a. Financial Services Authority Regulation no. 2/ BNI implements risk management as an integrated
POJK.03/2018 dated March 26, 2018 concerning activity for every part of an organization.
Determination of Systemic Banks and Capital 2. Structured and Comprehensive
Surcharge. BNI implements a structured and comprehensive
b. Financial Services Authority Regulation no. 31/ approach to risk management that will contribute to
POJK.03/2019 dated December 2, 2019 concerning consistent and comparable results.
Obligations to Fulfill Leverage Ratios for Commercial 3. Customized
Banks. BNI develops risk management frameworks and
c. Financial Services Authority Regulation no. 22 of processes that are adapted to the organizational context,
2022 dated November 1, 2022 concerning Capital both internal and external, according to organizational
Investment Activities by Commercial Banks. goals.
d. Bank Indonesia Regulation no. 17/22/PBI/2015 dated 4. Inclusive
December 23, 2015 concerning the Obligation to BNI adapts and involves stakeholders according to their
Establish a Countercyclical Buffer. knowledge, views and perceptions. This will result in
e. Financial Services Authority Circular No. 20/ awareness and informed risk management.
SEOJK.03/2016 dated June 2, 2016 concerning 5. Dynamic
Conversion Features into Ordinary Shares or Write Risks can arise, change or disappear according to
Down for Additional Core Capital and Supplementary changes in the organizational context, both internal
Capital Instruments. and external. BNI has implemented risk management
f. OJK Circular No. 6/SEOJK.03/2020 dated April 29, to anticipate, detect, accept and respond to changes and
2020 concerning Calculation of Risk- Weighted Assets events appropriately and on time.
for Operational Risk Using a Standard Approach for 6. Best available information
Commercial Banks BNI accommodates risk management input based on
g. OJK Circular No. 24/SEOJK.03/2021 dated October historical and current information as a basis for future
7, 2021 concerning Calculation of Risk-Weighted expectations. Risk management explicitly addresses
Assets for Credit Risk Using a Standard Approach limitations and uncertainties associated with information
for Commercial Banks and expectations. BNI delivers the latest, clear and
h. Financial Services Authority Circular No. 23/ available information to relevant stakeholders.
SEOJK.03/2022 dated December 7, 2022 concerning
Calculation of Risk-Weighted Assets for Market Risk
for Commercial Banks.
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7. Human Resources (HR) and Cultural Factors HR behavior 5. Manage BNI’s adequate capital structure to cover risks
and culture significantly influence all aspects of risk that may arise.
management at every level and stage. 6. Provide a more accurate basis for measuring BNI’s
8. Continuous Improvement performance.
BNI always makes continuous improvements to the risk 7. Create and maintain BNI’s strategic position and
management process through learning and experience. reputation.
8. Create competitive advantages and maintain sustainable
OBJECTIVES OF IMPLEMENTING RISK MANAGEMENT growth so as to increase BNI’s shareholder value.
AT BNI 9. Implement risk management at BNI as a center of
The implementation of Risk Management at BNI has the excellence supported by adequate competency and
following objectives: understanding of every aspect of risk resulting from
1. Manage the risks inherent in BNI’s relatively complex the Bank’s activities and products.
products, activities and business activities.
2. Provide an overview to Management regarding possible RISK MANAGEMENT IMPLEMENTATION PROCESS
losses that BNI could experience in the future. The risk management process at BNI includes identification,
3. Improve systematic decision-making methods and measurement, monitoring and control of all risks as well
processes based on the availability of risk information. as disclosure of these processes.
4. Maintain and improve the assessment of BNI’s Risk
Profile individually, consolidated and integrated as a
Financial Conglomeration.
1 Risk
Identification
Risk
2
Measurement
Risk
control
4
Risk
Monitoring
3
1. Identify Risks
5 Disclosure
Carried out proactively on all business activities in order 4. Risk Control
to analyze the source, level of possibility of risk arising Focused on risks that can be disruptive Bank business
and the impact it causes. continuity. The risk control process is adjusted to the
2. Risk Measurement risk exposure and risk level and tolerance to be taken.
Carried out in order to determine the magnitude of 5. Submit a Risk Report (Disclosure), which includes:
risk exposure as a reference for carrying out control a. Risk Management Report to Regulators
and for the purposes of calculating minimum capital b. Risk Management Report to the Board of Directors
requirements. c. Risk Management Information Report to the public
3. Risk Monitoring
Carried out to ensure that risks are managed properly,
including by:
a. Monitoring compliance with regulations
b. Predetermined risk tolerances and limits
c. Monitoring of stress testing results
d. Risk mitigation efforts that have been carried out
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RISK MANAGEMENT STRATEGY
In order to implement risk management in the company, BNI views the need for alignment between strategy and business
objectives with risk strategy and risk appetite. For this reason, risk strategy and risk appetite are then translated into
governance, processes, policies, as well as tools and methodologies that are supported by information technology,
human resources and a strong risk culture.
Business Strategy and Goals
Alignments
Risk Strategy and Risk Appetite
Risk Operating Model
Governance Process Policy Tools & Methods
Information Technology
HR & Risk Culture
Risk management strategies are formulated in accordance 2. BNI organization, including adequacy of human
with the overall business strategy by taking into account resources and supporting infrastructure.
the level of risk to be taken (risk appetite) and risk tolerance 3. Financial condition includes the ability to generate
(risk tolerance).The aim of establishing a risk management profits, and BNI’s ability to manage risks that arise as a
strategy is to ensure that risk exposure is managed in a result of changes in external and internal factors.
controlled manner in accordance with internal policies and 4. Internal portfolio mixes and diversification.
procedures as well as applicable laws and other provisions.
The risk management strategy is formulated in accordance
The risk management strategy is prepared to include several with the business strategy and must be able to provide
principles, namely: overall direction in risk management activities. The risk
1. Long term orientation to ensure BNI’s business management strategy consists of 4 (four) main components,
continuity. namely:
2. Comprehensive in nature, able to control and manage
BNI risks both individually and consolidated with 1. The risk level to be taken (risk appetite) and risk tolerance
Subsidiary Companies and integrated within the BNI (risk tolerance).
Financial Conglomeration. 2. Risk management principles and policies.
3. Fulfillment of required capital adequacy and adequate 3. Risk governance.
resource allocation. 4. Type of risk exposure and market conditions.
The risk management strategy is prepared with consider The type and magnitude of risk exposure is measured using
the following things: a risk measurement methodology that is in accordance
1. Economic and industrial developments and their impact with Regulatory provisions, and must be linked to risk
on BNI’s risk exposure. appetite, risk tolerance, predetermined limits and capital
availability and planning. BNI determines risk appetite and
risk tolerance in line with the Bank’s strategic targets, which
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are used as a reference for the level of risk the Bank will take in achieving business targets. The 2023 BNI Risk Appetite
Statement (RAS) is as follows:
Risk Appetite Risk Appetite Statement
Capital Maintain capital in accordance with the level of risk and review it periodically.
Profitability Maintain sustainable profitability in the long term to support capital growth and bank performance.
a. Maintaining quality credit growth focusing on priority sectors. Providing credit to industrial sectors and
high-risk business activities is carried out very carefully and selectively.
Credit Risk
b. Manage concentration risk at a level that produces optimum returns.
c. Improving credit quality and effectiveness of problem credit management.
Maintaining the level of Market Risk in accordance with regulations while still paying attention to achieving
Market Risk
business targets.
Maintain liquidity availability in accordance with regulations while still paying attention to achieving
Liquidity Risk
business targets.
a. Intolerance to internal fraud.
b. Ensure adequate risk mitigation for increasing e-channel/digital transactions.
c. Ensure awareness of all employees regarding potential risks and every activity carried out.
Operational Risk d. All employees are committed to implementing controls in all their activities to minimize both financial
and non-financial losses originating from inadequate internal processes, human resource weaknesses
and system failures.
e. Maintain the implementation of IT projects according to the predetermined schedule.
Legal Risk Minimize potential losses due to legal problems in BNI business activities.
a. Generate sustainable income with controlled risk.
b. Maintain capital in accordance with regulatory requirements and needs during normal and crisis
times.
Strategic Risk
c. Increasing global market expansion through accelerated international business strategies.
d. Strengthening digital capability through innovation and increasing partnerships.
e. Maintain the Bank’s Health Level and Risk Profile at Rating 2 or better.
Risk Compliance Continuously minimize fines from Regulators so that they decrease over time.
Reputational Risk Maintaining BNI’s rating remains investment grade.
The governance for determining risk management of a Risk Culture greatly influences the effectiveness of
strategies consists of: risk management implementation and ultimately the
1. The Risk Management Strategy is one of the bases achievement of BNI’s sustainable performance.
(references) in determining the business strategy
outlined in the BNI Bank Business Plan (RBB) which is In order to improve risk culture and risk awareness, BNI has
determined annually and submitted to the Regulator. implemented an operational risk culture for 2023, including:
2. The risk management strategy is prepared and prepared
by the Risk Management Work Unit, decided by the 1. People aspect
Board of Directors through the Risk Management & Simultaneously with the implementation of the New Way
Anti-Fraud Committee Meeting of the Risk Management of Working (NWoW) organization, BNI has carried out
Sub Committee and approval is sought from the Board an Operational Risk Workshop to increase awareness of
of Commissioners. Regional Heads and supervisors throughout the region.
2. Organizational Aspects
The Risk Management Strategy is communicated by the BNI has improved its operational risk culture from an
Board of Directors to Divisions/Units/Work Units and is organizational aspect, through:
reviewed periodically in line with changes in business a. In July 2023, the Operational Risk Management
strategy, taking into account economic conditions, the (ORM) Division was established to increase efforts
banking business, changes in regulations by Regulators to maintain operational risk.
and their impact on the Bank’s financial performance. b. Establishment of a Senior Operational Risk Executive
(SORX) consisting of 4 (four) functional units,
INCREASING BNI’S CULTURE including:
RISK & RISK AWARENESS • SORX Wholesale Banking focuses on operational
risk management functions in units/activities
One of the initiatives to improve the quality of risk under the supervision of the Wholesale &
management implementation is through the development International Banking Director, Enterprise &
of a strong risk culture. Risk culture is a collective form of Commercial Director, Institutional Banking
values, perceptions, behavior and attitudes of every BNI Director, Finance Director and Risk Management
employee towards risk and its management. Risk culture Director.
also acts as a glue to unite all employee perceptions and
perspectives to achieve predetermined goals.The existence
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• SORX Network & Services focuses on operational risk management functions in units/activities under the
supervision of the Network & Services Director, including Regional Offices.
• SORX Retail Banking & Corporate Function focuses on operational risk management functions in units/activities
under the supervision of the Retail Banking Director, Human Capital & Compliance Director, SEVP Corporate
Development & Transformation, including Divisions under the direct supervision of the President Director.
• SORX Technology, Digital & Operations focuses on operational risk management functions in units/activities
under the supervision of the Technology & Operations Director and the Digital & Integrated Transaction Banking
Director.
Apart from that, BNI also strengthened behavior through the initiation of the Culture Transformation Project in the form
of preparing a Strategic Roadmap for BNI’s work culture program, including:
1. Establishment of a management framework for BNI’s work culture transformation
2. Focus on implementing BNI AKHLAK
3. Symbolic actions of the leader
This Culture Transformation Project was carried out with a Grand Launching and Joint Commitment with BNI Culture
Transformation at the BNI Excellence Employee Award 2023 event on May 23, 2023 by the President Director and President
Commissioner. BNI’s “Culture Transformation Project” can be depicted in the following chart:
Vision
Become the best financial institution
Strategy in sustainable service and performance
BNI Strategic Objectives 2021-2025
Transformation 2022-2025 theme: RACE
Transformation
2022-2025
Risk Culture Agile Collaboration Execution
theme: RACE Oriented
AKHLAK
Core Values
Trustworthy Competent Harmonious Loyal Adaptive Collaborative
We, BNI people, define integrity
We, BNI people, have the best
as an essential value in building
competence and character as BNI people, are committed to
trust from all stakeholders, We, BNI people, are always
a basic attitude in carrying out providing the best
prioritizing the company’s proactive in innovating and
business activities, oriented service to customers to grow
Beliefs towards achieving superior
interests and carrying out
together and build mutually
making improvements to
business activities with the provide optimal results.
performance to make the beneficial partnerships.
principles of Good Corporate
Company as a Market Leader.
Governance (GCG).
In order to support the CultureTransformation Project, IMPLEMENTATION OF INTEGRATED
BNI has carried out outreach regarding the Internalization RISK MANAGEMENT
of the BNI Risk Culture Transformation – AKHLAK Culture
Journey to all BNI Group employees and carried out a series The BNI Financial Conglomerate needs to pay attention
of onboarding for all Senior Leaders (RACE Captains) and to all risks inherent in the Financial Conglomerate which
RACE Champions. Apart from that, BNI also ensures the can affect the continuity of its business. In implementing
effectiveness of the internalization of CultureTransformation Integrated Risk Management, BNI as the Main Entity is
through collaboration between divisions to carry out the required to manage 10 (ten) types of Risk, namely Credit
internalization process for all BNI Hi-Movers in all Regional Risk, Market, Liquidity, Operational, Legal, Strategic,
Offices through the Culture Transformation Workshop. Compliance, Reputation, Intra-Group Transactions and
Insurance.
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Integrated Risk Management Process Policies and Procedures
BNI as the Main Entity together with every Financial In implementing Integrated Risk Management, BNI as
Services Institution (LJK) member of the BNI Financial the Main Entity establishes the following policies and
Conglomeration is obliged to carry out a Risk Management procedures:
process for each
risks according to the type of risk that must be managed 1. Risk Management Policy for LJK Members of the BNI
in an integrated manner. Conglomerate
1. Integrated Risk Identification 2. General Integrated Risk Management Policy
The BNI Financial Conglomerate is required to 3. Integrated Risk Management Procedures Integrated Risk
manage 10 (ten) types of risk, including: Credit Risk, Management Procedures include, but are not limited to:
Market Risk, Operational Risk, Liquidity Risk, Legal • Organization, accountability and levels of delegation
Risk, Strategic Risk, Reputation Risk, Compliance Risk, of authority in implementing Integrated Risk
Intra-group Transaction Risk and Insurance Risk. Risk Management.
identification using complete, accurate and relevant • Integrated Risk Appetite Procedures.
data or information. • Integrated Risk Limit Procedures.
2. Integrated Risk Measurement • Integrated Risk Profiling Procedures.
Integrated risk measurement is carried out through • Intra-GroupTransaction Risk Management Procedures.
assessment of Integrated Risk Profiles, determination • Integrated Capital Procedures
of Integrated Risk Appetite, Integrated Risk Limits and • Leading Risk Indicator procedures.
Leading Risk Indicators for all LJK members of the BNI • New Business Line Procedures.
Financial Conglomeration as well as Integrated Stress • Integrated Stress Testing Procedures
Testing. • Integrated Risk Culture Procedures
3. Integrated Risk Monitoring
BNI as the Main Entity monitors Integrated Risk in the Risk Mitigation
BNI Financial Conglomerate based on the results of BNI as the Main Entity carries out integrated risk control,
assessments/calculations: especially risks that could endanger the business continuity
a. Risk Profile of each LJK member of the BNI Financial of the Financial Conglomerate. Integrated Risk control
Conglomeration. methods are carried out, among others, by:
b. Risk level of each risk in an integrated manner.
c. Integrated Risk Profile. 1. Determine risk limits, namely:
d. Leading Risk Indicator. a. Overall Risk Limit (integrated limit of the BNI Financial
e. Integrated Risk Appetite Conglomerate).
f. Integrated Risk Limit b. Limits for each type of risk.
g. Integrated Minimum Capital Requirement (KPMM). c. Risk Limit for each LJK member of the BNI Financial
4. Integrated Risk Control Conglomeration that has Risk Exposure.
a. BNI as the Main Entity carries out integrated risk 2. Approval mechanism or escalation if the overall Risk
control, especially risks that could disrupt the business Limit is exceeded.
continuity of the BNI Financial Conglomerate. 3. Feedback/corrective action mechanism on the results of
b. Integrated risk control methods are carried out, monitoring the Integrated Risk Profile.
among others, by:
• Establish appropriate risk mitigation methods. Transactions between the Bank and Related Parties in the
• Approval or escalation mechanism if the overall BNI Financial Conglomerate
risk limit is exceeded. 1. Financial Relationships
• Feedback/corrective action mechanism on the To assess intra-group material financial relationships
results of monitoring the Integrated Risk profile between LJKs in the BNI KK, it is measured based on
c. Integrated Risk control methods must be reviewed the value of BNI’s financial transactions with LJKs that
periodically. are members of the BNI KK, as well as between fellow
LJKs in the BNI KK, including transactions: investments,
bank guarantees, loans, securities and current accounts.
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The contribution of intra-group transaction value between LJKs to total transactions is as follows:
Funders
December 2023
BNI BNIF BNIL BNIS BNIAM hibank BSPL BNV
BNI 0,05% 0,05% 0,08% 0,01% 0,02%
BNIF 4,90% 0,39%
Beneficiary
BNIL 1,60% 0,14% 0,01%
BNIS 46,82% 3,43% 8,52% 0,09%
BNIAM 11,18% 11,19% 0,10% 0,02%
hibank 6,44% 0,05% 0,02% 0,56%
BSPL 2,82% 0,59%
BNV 0,92%
2. Capital Investment
Based on POJK No. 22 of 2022 concerning Capital Participation Activities by Commercial Banks, Capital Participation is
the investment of Bank funds in the form of shares in companies operating in the financial sector, including investment
in the form of mandatory convertible bonds or certain types of transactions which result in the Bank owning or will
own shares in companies operating in the financial sector.
Intra Group Transactions between LJKs in the BNI Financial Conglomerate as of December 31, 2023 are as follows:
I VI VII
No Company / Password Time Part
Investment Investment
1 PT BNI MULTI FINANCE 12/12/2023 99,99%
2 PT BNI SEKURITAS 25/03/1996 75,00%
3 PT BNI LIFE INSURANCE 24/08/2012 60,00%
4 BNI REMITTANCE LTD. 06/11/2009 100,00%
5 PT BANK SYARIAH INDONESIA 29/12/2017 23,24%
6 PT BANK HIBANK INDONESIA 18/05/2022 63,92%
7 PT BNI MODAL VENTURA 12/05/2022 99,98%
8 PT PEMERINGKAT EFEK INDONESIA 21/04/1999 0,14%
9 PT KUSTODIAN SENTRA EFEK INDONESIA 24/09/1998 2,50%
10 PT BANK MIZUHO INDONESIA 27/03/2013 1,00%
11 PT BANK TABUNGAN PENSIUNAN NASIONAL 18/02/2004 0,15%
The value of capital investment between LJKs in the BNI Financial Conglomerate as of 31 December 2023 is as follows:
Total Nominal
Providers Beneficiary %
(Rp Billion)
BNI BNI Finance 2.662,63 4,90%
BNI BNI Life 869,77 1,60%
BNI BNI Sekuritas 25.457,52 46,82%
BNI BNIAM 6.080 11,18%
BNI hibank 3.500,00 6,44%
BNI BSPL 1.530,49 2,82%
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Total Nominal
Providers Beneficiary %
(Rp Billion)
BNI BNI Ventura 500,00 0,92%
BNI Finance BNI 27,59 0,05%
BNI Finance BNI Life 73,66 0,14%
BNI Finance hibank 29,39 0,05%
BNI Life BNI Sekuritas 1.865,22 3,43%
BNI Life BNIAM 6.084,96 11,19%
BNI Life Hibank 0,01 0,00%
BNI Sekuritas BNI 0,41 0,00%
BNI Sekuritas BNI Life 3,66 0,01%
BNI Sekuritas BNI Asset Management 53,49 0,10%
BNI Sekuritas hibank 0,07 0,00%
BNI Sekuritas BSPL 322,54 0,59%
BNI Asset Management BNI 25,00 0,05%
BNI Asset Management BNI Life 1,40 0,00%
BNI Asset Management BNI Sekuritas 4.630,24 8,52%
BNI Asset Management hibank 13,00 0,02%
BNI Asset Management BNI Ventura 0,10 0,00%
hibank BNI 44,61 0,08%
hibank BNI Finance 214,61 0,39%
hibank BNI Sekuritas 50,00 0,09%
hibank BNIAM 11,03 0,02%
BSPL BNI 3,05 0,01%
BNI Ventura BNI 8,57 0,02%
BNI Ventura hibank 304,13 0,56%
TYPES OF RISKS AND HOW As the spread of COVID-19 subsides, the global and
TO MANAGE THEM domestic economy continues to recover. Improvement
in the world economy continues but has the potential
There are 8 (eight) risks managed by BNI as a Bank and 10 to be lower than previously estimated, accompanied by
(ten) risks managed by BNI as a financial conglomerate, increasing financial market uncertainty as a result of the
namely credit risk, market risk, liquidity risk, operational continuation of the Russia-Ukraine war, increasing global
risk, legal risk, reputation risk, strategic risk, compliance inflationary pressures, and a more aggressive response to
risk, intra-group transaction risk, and insurance risk. global monetary policy tightening.
CREDIT RISK MANAGEMENT The economic recovery in question has had a positive
Credit Risk is the risk of loss due to the failure of another impact on the performance and quality of banking
party to fulfill its obligations to the Bank, including credit credit in Indonesia and also credit performance at BNI.
risk due to debtor failure, credit risk due to concentrated BNI captures this potential through various initiatives
provision of funds (credit concentration risk), credit risk to encourage prudent credit growth with continuously
due to counterparty failure (counterparty credit risk), credit improving achievements. In December 2023, BNI’s credit
risk due to failure settlement (settlement risk) and credit realization was IDR687.91 trillion or grew 7.0% YoY from
risk due to country risk. IDR642.63 trillion, an increase compared to growth in 2022
of 10.51% YoY.
Credit risk can originate from various Bank business
activities, such as providing loans, purchasing securities, The main driver of BNI’s credit growth was the Corporate
acceptances, inter-bank transactions, trade financing segment which recorded an increase of 14.08%YoY, followed
transactions, exchange rate and derivative transactions, by the Consumer business segment at 13.6%, most of which
as well as commitment and contingent obligations, where was channeled in the form of home ownership and payroll
lending is the largest source of credit risk. loans. To maintain asset quality, BNI’s credit distribution is
focused on Top Tier customers in a number of industries
and continues to strive to build overall relationships with
customers to ensure integrated financial solutions (close
loop transactions).
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BNI’s credit quality continues to improve throughout 2023 Even though credit quality is relatively improving, BNI
and shows recovery after being depressed due to the continues to anticipate potential declines in credit quality
Covid-19 pandemic. An encouraging trend can be seen by strengthening the reserve ratio or coverage ratio at
from the gradual reduction in the gross nonperforming loan an adequate level. By the end of 2023, the NPL coverage
(NPL) ratio driven by the application of risk management ratio increased from 278.3% in 2022 to 319.0% and the LaR
discipline in credit distribution and monitoring. BNI’s coverage ratio increased from 48.8% in 2022 to 52.7% in
gross NPL ratio in December 2023 was recorded at 2.1%, 2023.
decreased from the position at the end of 2022 by 2.81%
BNI’s NPL improvement was supported by improved credit Currently, BNI has developed a concept and mechanism
quality in the Corporate segment from 2.08% to 0.93% and for implementing an end-to-end credit process that is more
the Consumer business from 16.06% to 5.57%. prudent, measurable with consistent and disciplined control
as an effort to build a better credit risk culture, namely as
The same trend occurred in the number of loans follows:
restructured. As of December 2023, BNI recorded that
the amount of credit included in the restructuring was 1. Establish Risk Acceptance Criteria to implement
IDR75.3 trillion (bank only), decreased compared to the aggressive, selective and quality BNI expansion. This
period at the end of 2022 which reached IDR91.5 trillion. is intended so that BNI in expanding can maintain the
Specifically, loans that were restructured in connection quality of its credit which not only includes loans for
with the Covid pandemic also experienced improvement, domestic businesses but also international businesses
which in December 2023 it was IDR26.6 trillion or 3.9% of through the Foreign Office.
total loans, an improvement compared to December 2022 2. Development of tools in order to improve the quality and
of IDR49.6 trillion or 7.8% of total loans. Based on the debtor efficiency of the credit analysis process consisting of the
credit risk classification, BNI’s Covid-19 credit restructuring development of RM Tools, Loan Management System
was dominated by the Low Risk category at 70%, followed (LMS), Credit Scoring Model for credit processes up to
by the Medium Risk category at 24% and High Risk at IDR10 billion, Single Integrated Monitoring (SIMON)
6% of the total Covid-19 restructuring credit. Most of the Framework, KUR Behavior and Collection , Customer
debtors who received Covid-19 credit restructuring facilities Prime and Dashboard Turn Around Time Control and
came from the Processing Industry sector at 28.8%, the Monitoring.
Construction sector at 18.1%, the Accommodation Provision 3. Carry out the better control mechanisms to ensure
and Restaurant Provision sector at 13.5% and the Wholesale that monitoring tools for debtors are implemented
and RetailTrade sector at 12.2%, and the Real Estate, Rental consistently, with discipline and quality so that BNI can
Business and Corporate Services sectors at 11.1%. BNI will determine appropriate action plans for each debtor and
continue to strive to reduce restructured credit related to monitor their implementation.
the Covid pandemic in order to improve the quality of the 4. Faster and earlier implementation of remedial action to
Bank’s credit in 2023. speed up improvements in the performance of debtors
with potential problems and to mitigate potential risks.
BNI also measures the Loan at Risk (LaR) ratio to describe 5. Conduct regular and in-depth credit training to increase
a wider range of credit risks. LaR is the sum of loans with credit knowledge and abilities and increase awareness.
collectibility 1 (current) which are restructured, collectibility
2 (Special Mention) and collectibility 3, 4 and 5 which are Governance and Organization
classified as Non-Performing Loan (NPL). In December 2023, The application of the four eyes principles in the credit
BNI’s total LaR reached IDR89.0 trillion or 12.9% of total process at BNI is implemented in the credit approval process
credit, an improvement from the previous year of IDR102.8 carried out through the Credit Committee, which is a forum
trillion or 16.0% of total credit. Improvements in the LaR with credit decision officials who have the authority to
ratio occurred in all segments supported by a decrease in decide on proposed credit in accordance with the specified
restructuring credit in line with efforts to improve the end to limits. Credit Committee members consist of business unit
end credit process and also supported by the increasingly and business risk unit officials. Business units and business
sloping COVID-19 cases so that community mobility risk units act as first line roles (risk owners) who are tasked
increased and had a positive impact on the recovery of with managing and controlling credit risk in the unit’s daily
debtor business activities. operational activities.
Loan status returned to normal, taking place gradually As an effort to accelerate credit quality improvement,
and reflected in various business sectors. In line with BNI formed an organization for the Optimization Team
improvements in credit quality, the cost to credit ratio (cost for Handling LaR. The formation of this organization was
of credit) continues to improve, where up to December carried out to monitor credit quality and handle low quality
2023 it was recorded at 1.3%, decreased comparing to debtors more quickly and intensively which focuses on
the 2022 period of 1.8%. The credit cost ratio is still within the management process, decisions, action plans and
management’s guideline range of below 1.5%. In the future, monitoring of Loan at Risk (LaR) debtors in accordance
BNI will continue to control the cost of credit to 1.5% in 2024. with the targets and objectives set.
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Apart from team organization, optimizing LaR Handling, the Remedial Recovery Unit also has a role in handling problem
debtor credit.
BNI carries out faster and earlier remedial actions to accelerate improvements in the performance of debtors with potential
problems and to mitigate potential risks.
The Risk Management Work Unit and Policy Governance unit act as second line roles in charge of preparing credit
infrastructure such as preparing credit policies and procedures, determining limits on credit decision authority, preparing
rating and scoring systems, together with business units monitoring credit portfolios, as well as preparing other tools.
necessary to support credit activities.
The Internal Audit Unit (IAD) as a third line role actively participates in maintaining the quality of the credit portfolio
through immediate post reviews, namely carrying out checks on several debtors immediately after the credit is disbursed.
IAD also carries out sampling checks on debtors to maintain the quality of debtors who have received credit facilities.
Policies and Procedures
Establishment of Credit Risk Management Policies and Procedures is aimed, among other things, at supporting healthy
credit provision, identifying and handling problem loans as well as monitoring and controlling Credit Risk.
Credit Policies and Procedures are prepared as a basis for carrying out activities in the credit process so that credit quality
can be maintained while still paying attention to the established business targets. BNI has a Bank Credit Policy (KPB)
which is decided by the Credit and Business Policy Committee Forum and approved by the Board of Commissioners.
Furthermore, the KPB is translated into Credit Company Guidelines which are decided by the Credit Procedures Committee
Forum (KPP).
This policy is prepared in more detailed credit procedures as guidelines that regulate end to end credit process activities
so that credit quality can be maintained while still paying attention to the established business targets.
Some credit procedures are Business Banking Credit Procedures for Corporate Segment, Commercial Segment, Small
Segment, Credit Manual for Overseas Branch, Consumer Credit, Trade Finance, Credit Law and Credit Administration
Management.
Apart from that, BNI also has a General Risk Management Policy which is derived in the form of Credit Risk Management
Procedures and outlined in detail in the form of Technical Guidelines such as technical guidelines for determining Loan
Exposure Limits, Credit Risk Premium, Credit Risk Stress Testing, Internal Rating Based, Scoring System, Calculation of
Risk Weighted Assets, Industry Risk Rating and Credit Model Validation.
Credit policies and procedures and Credit Risk Management have been standardized into the Company Guidelines. The
Company Guidelines used are currently available in the form of online guidelines, namely BNI e-PP (electronic Company
Guidelines).
Process
The credit risk management process is implemented throughout the credit process, starting from credit marketing
until the credit is paid off. This process takes place continuously in a value chain activity which begins with determining
strategy and planning, customer insight, portfolio planning, product development, credit processing, credit administration,
intensive monitoring and portfolio optimization.
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Strategic, Planning, & Budgeting Loan Origination/Acquisition
Costumer Insight Product Dev. Relationship Analysis Relationship CRD. Adm
Portfolio Optimization Monitoring & Control
Porfolio Analysis Optimization Monitoring Remedial
In credit operational activities within the scope of individual where the Bank will calculate credit risk exposure so
customers, the credit risk management process is carried that it can estimate the impact of losses that may arise,
out by both the Business Unit and the Business Risk Unit where the results of the risk measurement will be used
through the stages of identification (including verification to control credit risk.
of data correctness), measurement (use of credit analysis
tools), monitoring (review of customer ratings and early For processing individual exposures in the business
warning system periodically, through visits to customers), as banking segment, BNI has a debtor rating model in the
well as control (including through setting limits, covenants form of an internal rating system, while for the consumer
and mitigating factors). segment a debtor scoring system is used to assist in
analyzing debtor quality in the credit process.
1. Identification
Credit risk identification is carried out in order to analyze The internal rating system is intended to enable the
the sources and possibilities of credit risk that have the Bank to identify early changes in debtor risk profiles.
potential to have a negative impact on the achievement Currently BNI’s internal rating is used to determine the
of the Bank’s targets, which is carried out periodically amount of reserves that must be formed.
according to the characteristics of the product and type
of activity. To regulate the composition of the loan portfolio, BNI
has a Loan Exposure Limit (LEL) which functions to
Credit risk identification is carried out at the transactional limit the risk of concentration of loan exposure based
(individual) and portfolio levels. At the individual level, on economic sectors in each credit business segment,
credit quality assessment is carried out based on analysis and serves as a guideline for business units to carry
of business prospects, financial performance and out loan expansion.
debtor’s ability to pay. At the portfolio level by identifying
concentration risk based on idiosyncratic factors, namely To assess the risks of each type of industry, BNI has an
factors that are specifically related to each debtor and Industry Risk Rating (IRR) and Financial Ratio Standards
systematic factors, namely macroeconomic factors and which are used as one of the factors in assessing the
financial factors that can influence market performance/ quality of debtors from an industrial perspective. Apart
conditions. Credit risk identification at the portfolio level from that, BNI has also established prospective economic
is also carried out by preparing an Industrial Risk analysis sectors and Industry Risk Appetite as a guideline
in prospective economic sectors. for business units as one of a series of processes in
pipeline management to obtain quality and in-the-market
2. Measurement prospective customers.
Credit risk measurement is an inseparable part and series
of the process of implementing credit risk management
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risk management, setting concentration risk targets in
BNI uses the Standardized Approach method for the Bank’s Business Plan, as well as regular concentration
calculating Risk Weighted Assets (RWA) for Credit Risk risk analysis.
in assessing the adequacy of fulfilling the Minimum Within the scope of the entire portfolio, monitoring and
Capital Requirement (KPMM). reporting of credit exposure is carried out periodically
to Management, including through the Loan Portfolio
In order to complete the measurement system of credit Report. In addition, monitoring is also carried out on
risk, stress testing is carried out, namely by estimating credit concentration, both concentration on certain
the bank’s potential losses in abnormal market conditions economic sectors and concentration on certain
using certain scenarios to see the sensitivity of BNI’s segments. Periodically in the Risk Management & Anti-
performance to changes in risk factors and identifying Fraud Committee Forum, the Risk Management Sub-
factors that have a significant impact on BNI’s portfolio Committee (KRA-RMC) evaluates the achievement of
and capital adequacy. Credit risk stress testing is carried targets, determines steps and coordinates follow-up
out periodically or can also be carried out at any time improvements, as well as evaluates the effectiveness
according to needs, considering economic conditions of the corrective steps that have been taken.
or according to the needs/requests of regulators.
Tools and Methods
BNI develops a credit risk stress testing methodology/ In order to support operational business processes
model by considering the characteristics of the product and credit risk management, BNI has several credit risk
or activity and aligning it with regulatory provisions. management tools both at the individual and portfolio
If the stress testing results show a vulnerability, an exposure levels. For credit processing for individual
appropriate strategy will be implemented. exposures in the business banking segment, BNI has a
rating model in the form of an internal rating system where
3. Monitoring the parameters include sharpening of Environmental, Social
Credit risk monitoring is carried out on all credit and Governance (ESG) aspects, while for the consumer and
risk exposures, especially those that are material in retail segments up to IDR3 billion, a debtor scoring system
nature as well as losses that can be incurred by all is used for assisting in analyzing the quality of debtors in
functional activities. Risk monitoring aims to observe the credit process.
and ensure that the implementation of the entire credit
risk management process is running well and that the In addition, in order to improve the capability and quality of
existing potential credit risk is still within the permitted implementing credit risk management, BNI has improved
risk limits. Credit risk monitoring is carried out at the risk management and credit processes, among other things:
transactional (individual) level and at the portfolio level. 1. Enhancement Internal Rating Based (IRB) Model and
At the individual level, among others, by monitoring Rating System Structure, which aims to be a solution for:
the debtor’s current business and financial conditions, a. Providing the best results (best return), evaluating
monitoring compliance with the terms of the Credit and analyzing strategies and supporting the decision
Agreement or other transaction contracts, assessing the making process by developing risk based pricing, risk
adequacy of collateral periodically, monitoring potential based performance and portfolio management.
problem loans in a timely manner to take corrective b. Carrying out monitoring (tools monitoring) on the
action. performance of Corporate, Medium and Small
debtors.
Monitoring credit risk at the portfolio level is carried c. Calculation of CKPN is in accordance with PSAK 71.
out, among other things, through monitoring the loan
portfolio, namely growth, quality and concentration of The benefits of enhancing the IRB Model for BNI include:
loans, monitoring loan exposure compared to the Loan a. Improving BNI credit quality.
Exposure Limit, as well as monitoring the Maximum b. Assist business units in selecting prospective debtors.
Lending Limit. c. Becomes an early warning signal in monitoring
managed debtors, thereby reducing the provisions
4. Controlling that need to be formed.
Credit Risk Control is carried out in order to prevent 2. Implementation of the Integrated Decision Automated
deeper losses due to Credit Risk which is supported System (IDEAS) which can be a tool for BNI to move
by several credit risk management tools both at the more flexibly and quickly in capturing dynamic and
individual and portfolio exposure levels. Several ways competitive market changes, while still minimizing
to control Credit Risk include credit risk mitigation, risk through the implementation of a credit scorecard
determining the level of authority for credit approval,
a system for early detection of problem loans, portfolio
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through the use of more comprehensive customer data PSAK 71 requires the inclusion of information relating to past
throughout the customer life cycles. events, current conditions and estimates of future economic
Currently the IDEAS decision engine has been integrated conditions. Projections of changes in credit losses must reflect
with several surrounding systems at BNI, including: changes in related conditions in one period. Calculation of
a. Consumptive eLO for BNI Griya and BNI Flexi products loss recognition for future risks (Expected Credit Loss/ECL)
b. Productive eLO for KUR, BWU and BCM products requires forward looking estimates of Probability of Default
c. eFORM Credit Card (PD), Loss Given Default (LGD) and Exposure at Default (EAD).
d. Common Collection – CWX Credit Card product
e. Cardlink – core credit card system In accordance with accounting requirements, the scope of
f. Customer behavior based on iCONS transactions financial assets assessed for calculating Expected Loss or
g. Fleksi Mbanking Digital Loan Program Allowance for Impairment Losses (CKPN) based on PSAK
71 is:
To ensure that the Bank’s portfolio is not concentrated on a. Financial assets that are debt instruments are
certain debtors and economic sectors, credit restrictions measured at amortized cost or measured at fair
have been set according to risk appetite and risk tolerance. value through other comprehensive income (FVOCI)
The ERM Division has also prepared an Industry Risk including loans and debt securities.
Appetite (IRA) which uses consideration factors including b. Loan commitments issued are not measured at fair
the Industry Risk Rating (IRR) , Prospective Economic Sector value through profit or loss or Fair Value through
and Environmental Impact from the economic sector which Profit or Loss (FVTPL).
refers to the implementation of Environmental Social and c. Financial guarantee contracts issued that are within
Governance principles in accordance with POJK No. 51 of the scope of PSAK 71 and are not measured at FVTPL.
2017 concerning the Implementation of Sustainable Finance
for Financial Services Institutions, issuers and Companies, Calculation of impairment is carried out using 2 (two)
meanwhile, to anticipate LLL exceedances, BNI has set a methods, namely individual or collective impairment:
house limit with a more prudent limit than the LLL limit in a. Individual Impairment
accordance with the Regulator’s provisions. According to PSAK 71, ECL for individual credit is
calculated using the Discounted Cash Flow method
To regulate loan portfolio concentration, BNI has a Loan which takes into account the existing forward looking
Exposure Limit (LEL) which functions to limit the risk of scenario based on 3 (three) scenarios, namely
concentration of loan exposure in each economic sector reasonable, optimistic and pessimistic economic
in each business segment, and serves as a guideline for conditions.
loan expansion for one year. To assess industrial risk, BNI b. Collective Impairment
implements the Industry Risk Rating (IRR) and standard Impairment using the collective methodology is
financial ratios which are used as one of the factors in applied to portfolios that do not meet the individually
assessing debtor quality from the Debtor Industrial Sector calculated portfolio criteria.The collective impairment
side. calculation uses the Probability of Default (PD), Loss
Given Default (LGD) and Exposure at Default (EAD)
As part of measuring credit risk and to anticipate changes components.
in macro factors that influence the bank, BNI periodically
carries out credit risk stress testing to assess changes in The definition of default used in calculating the Probability
the credit portfolio and their impact on the bank as well as of Default and Loss Given Default for credit portfolios,
the bank’s ability to face these conditions. apart from referring to regulatory regulations regarding
Asset Quality Assessment for Commercial Banks and future
To integrate documentation in the credit process, BNI has changes, BNI also uses the definition of default, namely the
used the e-PAK application for corporate credit which helps number of days in arrears of more than 90 days, internal
the end-to-end credit process along with documentation default rating, or collectibility equal to or more than 3.
which is carried out by integrating several existing tools. For non-credit portfolios, the definition of default refers
to regulatory regulations regarding the assessment of
Establishment of Allowance for Impairment Losses (CKPN) Commercial Bank Asset Quality and rating assessments
The formation of BNI’s Allowance for Impairment Losses published by external rating agencies.
(CKPN) follows the implementation of Statement of
Financial Accounting Standards (PSAK) No. 71 “Financial
Instruments” as an accounting standard that regulates
financial instruments and is effective as of January 1, 2020.
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Based on the general approach to calculating impairment In the LGD calculation, there is a Recovery Secured
of PSAK 71, financial assets are categorized into 3 (three) component, which is a recovery that is met by collateral
stages. Each stage shows the credit quality of the related or the LGD portion of the collateral recovery which has been
financial assets, namely: discounted according to the workout period. Unsecured
1. Stage 1: includes financial instruments that do not recovery is recovery that comes from cash recovery that
experience a significant increase in credit risk compared has been discounted according to the workout period.
to the risk level at initial recognition or have low credit Direct Costs are direct costs that arise during the billing
risk at the reporting date. For these assets, the ECL process or guarantee execution.
calculation will apply for a maximum of 12 months or
according to the remaining tenor. Collateral Recovery/Recovery Secured is divided into 3
2. Stage 2: includes financial instruments that have (three) types, namely appreciated collateral, depreciated
experienced an increase in credit risk since initial collateral and static collateral. Determining and managing/
recognition (except for credit risk at the reporting date changing rules to group collateral segmentation into the
which was relatively low) but experienced conditions three types of collateral is carried out periodically.
or met the requirements for default. For these assets,
the ECL calculation will apply throughout the remaining For the Unsecured Recovery Rate calculation, the observed
tenor or according to the expected remaining tenor. population is accounts that have experienced default but
Lifetime ECL is the expected credit loss expected from are still in default status until the end of the modeling cut-
all default events that may occur over the expected life off period and have a default age that exceeds the work
of the financial instrument. out period limit.
3. Stage 3: includes financial instruments that have been
objectively proven to be impaired at the reporting date. Exposure at Default (EAD)
This stage consists of debtors who experience default. Exposure at Default (EAD) is an estimate of the carrying
amount at the time of default, considering the cash flow of
Probability of Default (PD) the related financial instrument, as well as the possibility of
Probability of Default (PD) is the main component in additional withdrawals from the credit limit up to the date
calculating CKPN and for assessing the potential default of default. EAD also considers payment and amortization
of a group of debtors based on productive asset quality schedules as well as changes in the utilization of undrawn
indicators for each asset. To fulfill the rules and principles balances leading up to a default.
of PSAK 71, PD needs to be formed into a transition that
has a time dimension known as PD forward looking. EAD modeling will be carried out based on the characteristics
of the relevant financial instruments, which are divided into
PD forward looking will define the potential for default not several categories, namely installment credit, revolving
limited to 1 (one) year but up to the longest tenor owned credit, trade finance products and treasury.
by the bank. Forward looking PD will be distributed in each
year/month of facility tenor projections.This distribution is Some facilities will be subject to a credit conversion factor
known as PD forward looking term structure. (CCF) rate in their EAD term structure. CCF will be imposed
on facilities that have the following criteria:
The PD forward looking term structure required for CKPN 1. Has a withdrawal allowance that can be used again if
calculations is adjusted to the stage at each facility. In the principal payment is made.
generating PD values, BNI uses 3 (three) approaches 2. The credit disbursement mechanism can be carried out
based on the availability of portfolio data, namely the without going through a credit risk analysis mechanism.
Vasicek Model, Bayesian Scalar Model (Internal Rating),
and Transition Matrix Model. Expected Credit Loss (ECL)
In general, CKPN is measured by the lifetime Expected Credit
Loss Given Default (LGD) Loss (ECL) value, if there has been a significant increase in
In calculating CKPN PSAK 71, the estimated Loss Given credit risk since initial recognition. If at the reporting date,
Default (LGD) value considers BNI recovery data from there has been no significant increase in credit risk since
defaulted accounts. There are 2 (two) LGD segmentations, initial recognition, then the CKPN measurement of financial
namely Secured LGD and Unsecured LGD. Secured LGD assets is carried out at a maximum ECL of 12 months.
consists of an Appreciating Model, a Depreciating Model
and a Static Model. For Unsecured LGD, it consists of the
Discounted Debit Balance Difference Model.
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MARKET RISK MANAGEMENT by the Company’s Market Risk Management Guidelines.
Market risk is the risk on the balance sheet and administrative The Company Guidelines contain procedures and
account positions, including derivative transactions, due methodologies as well as market risk management models,
to overall changes in market conditions, including the risk which are prepared and reviewed and validated periodically
of changes in option prices. by the Enterprise Risk Management Division.
As a bank, BNI is prohibited from carrying out equity Process
(share) and commodity transactions. The application Identification, measurement, monitoring and control of
of risk management for equity and commodity risks is market risks are carried out by units that are independent
implemented in the case of consolidation with Subsidiary from the business units.
Companies. 1. Identification
Market Risk Identification is mainly carried out for each
Most of the Trading Book Market Risk originates from new product or activity. The objectives of Market Risk
Treasury business activities, both Domestic and Overseas, Identification are:
while Banking Book Market Risk, especially Interest Rate a. Determine transactions/products that are exposed
Risk in the Banking Book and Net Open Position (PDN), to Market Risk
originates from all company activities. BNI always monitors b. Grouping Market Risk based on existing criteria
and manages market risks wisely and continuously c. Makes it easier to measure Market Risk and control it
(sustain). 2. Measurement
Market Risk measurements are periodically carried out
Governance and Organization on all trading book and banking book portfolios that
In order to manage market risk effectively and are exposed to Market Risk. BNI measures Market Risk
independently, Treasury business activities are divided using the Standard Method in accordance with POJK No.
into 3 (three) parts, namely front office, middle office and 23/ SEOJK.02/2022 and Internal Methods. The Standard
back office. The front office as a business unit strives to Method is used to calculate the Market Risk Minimum
achieve business targets by carrying out business activities Capital Requirement (KPMM), while daily market risk
and connecting with customers. However, as part of the management uses the Internal Method (Value at Risk).
internal control system, the front office also functions as
a first line role which will attempt to limit and anticipate The portfolio coverage calculated in KPMM using the
market risks caused by changes in exchange rates and Standard Method is the trading book portfolio for interest
interest rates according to predetermined limits. In carrying rate risk and the trading book and banking book portfolio
out its activities, the Treasury business is limited by the for exchange rate risk for both Domestic and Overseas
Risk Appetite and Risk Limit proposed by the Enterprise Office portfolios.
Risk Management Division to the Risk Management &
Anti-Fraud Committee, Risk Management Sub-Committee For internal purposes, BNI has also carried out
(KRARMC). Treasury transaction limits are proposed by calculations using the Internal Method, calculating
the Policy Governance Division through the Credit and Value at Risk (VaR), which is a value that describes the
Business Policy Committee, while counterparty limits are maximum potential for losses experienced by the Bank
determined by the Business Risk Unit. as a result of market movements that influence the
Bank’s risk exposure under normal market conditions.
The Enterprise Risk Management Division as a second To obtain the VaR value, the methodology used is the
line role carries out the function of monitoring market Parametric method.
risk and compliance with risk limits, including market risk
limits, authority limits and counterparty limits, validating Domestic and Foreign Office market risk exposure
fixing prices, checking the fairness of prices for treasury (Value at Risk) is always monitored on a daily basis
transactions and investigating off market occurrences and and submitted to Management on a weekly and monthly
reviewing them. use limits. In addition, to complement the basis. The price valuation policy currently used for
existing market risk management function, BNI also has actively traded instruments is mark-to-market, while
a Middle Office function which is tasked with monitoring, the valuation method for less actively traded instruments
controlling and reporting risks in Treasury transactions. uses fair prices from independent sources.
The back-office function is in the Banking Operations Interest Rate Risk in the Banking Book (IRRBB) is a risk
Division, namely carrying out confirmation, bookkeeping resulting from movements in interest rates in the market
and settlement activities for Treasury transactions. that are contrary to the position of the Banking Book,
which has the potential to have an impact on the Bank’s
Policies and Procedures capital and income both now and in the future.
In order to support business targets while still paying
attention to the principle of prudence, BNI has a Company
Guide for Treasury and International Business. In addition,
in order to manage Market Risk effectively, BNI is guided
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The development of risks in the banking book portfolio as g. Nominal open position limit, namely the maximum
a whole is closely monitored periodically in accordance nominal open position limit that a dealer can make.
with the measurement method determined by the h. Total internal PDN limit (absolute), namely the
regulator, namely monitoring the Net Open Position maximum limit for PDN management.
(PDN) for exchange rate risk and interest rate risk in
the banking book gap, and is conveyed to management Tools and Methods
through the Risk Management Committee Forum and In order to increase market risk capabilities, monitoring
Anti Fraud Risk Management Sub Committee. support tools have been developed that can improve the
3. Monitoring quality and accuracy of monitoring results, including the
The Market Risk monitoring and reporting process is following:
carried out periodically, including: a. In accordance with regulatory provisions, BNI measures
a. Monitoring and reporting on the magnitude of Market the impact of changes in interest rates in the Banking
Risk for all Bank portfolios exposed to Market Risk. Book (Interest Rate Risk in the Banking Book/IRRBB).
b. Monitoring and reporting on Market Risk limit The calculation method is carried out using 2 (two)
compliance (realized Market Risk exposure compared approaches, namely the Net Interest Income (NII) method
to the limit). and the Economic Value of Equity (EVE) method. BNI
c. Follow-up recommendations for exceeding limits carried out an interest rate shock simulation with 6 (six)
and/or abnormal market conditions, and/or other scenarios according to Basel and looked at the impact
conditions that lead to an increase in potential Market on BNI’s profitability and capital. By considering the
Risk. complexity of the data, products and models used, an
4. Controlling IRRBB calculation application has now been developed
Market Risk Control is carried out in order to prevent so that the results obtained are expected to be more
deeper losses due to Market Risk by determining market accurate.
risk limits in the Treasury Division and Overseas Branch b. The Off Market Price Limit monitoring application is
Offices, including as follows: an application to monitor the fairness of transaction
a. Value at Risk Limit (VaR Limit), which is the maximum prices (likely and reasonable), namely in accordance
potential loss that may occur at a certain time in the with the range of daily fluctuations in market rates/
future with a certain level of confidence. prices (expected daily fluctuations possible) at that time.
b. Stress Value at Risk Limit (SVaR Limit), which is a c. The transaction authority limit monitoring application
measurement of market risk adjusted to abnormal is an application for monitoring Transaction Limit (Deal
conditions in the market or the maximum potential Ticket Size), Position Limit, and Stop Loss Limit (Budget
loss when the market is abnormal. Loss Limit).
c. Budget Loss Limit which is used to limit the realization d. Credit Counterparty Limit monitoring application where
of losses from business activities. there is development of Forex Counterparty Limit
d. Management Action Trigger (MAT), namely the limit calculations using the Credit Conversion Factor (FKK).
for taking action against the risk of changes in value e. The Value at Risk (VaR) monitoring application for (HO)
that are detrimental (early warning signal). MAT and Foreign Offices (KLN) uses the historical simulation
completes the loss limit budget in the form of a certain method so it is expected to be more accurate because
percentage of the loss limit budget. it can cover non-linear risks.
e. Securities purchase limits are used to limit the
concentration of corporate securities purchases based Meanwhile, market data is obtained from Reuters,
on the rating and type of securities currency. Bloomberg and other independent sources. Several limits
f. Limit Interest Rate Risk in Banking Book (IRRBB) that have been set to manage potential Market Risk losses
uses the Net Interest Income (NII) method and the in the Treasury Division and Foreign Offices include the
Economic Value of Equity (EVE) approach to limit following:
interest rate risk in the banking book. a. Value at Risk Limit (VaR Limit), which is the maximum
potential loss that may occur at a certain time in the
future with a certain level of confidence.
b. Stress Value at Risk Limit (Stress VaR Limit), which is
a measurement of market risk adjusted to abnormal
conditions in the market or the maximum potential loss
when the market is abnormal.
c. Budget Loss Limit which is used to limit the realization
of losses from business activities.
d. Management ActionTrigger (MAT), namely the limit for
taking action against the risk of changes in value that
are detrimental (early warning signal). MAT completes
the loss limit in the form of a certain percentage of the
loss limit.
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e. Securities purchase limits are used to limit the 2. Inability to generate cash flow originating from raising
concentration of corporate securities purchases based funds, inter-bank transactions and loans received.
on the rating and type of securities currency.
f. Limit asset and liability repricing gap (Interest Rate Risk Governance and Organization
in Banking Book) to limit interest rate risk in the banking Liquidity Risk Management is carried out by the Enterprise
book. Risk Management (ERM) Division,Treasury Division (TRS),
g. Nominal open position limit, namely the maximum and Foreign Office. Liquidity Risk Management Policies
nominal open position limit that a dealer can make. and Procedures are prepared by the ERM Division, then
h. Overall PDN internal limit (absolute), namely the implemented by the Treasury Division and all Foreign
maximum limit for PDN management. Offices which are realized in liquidity strategy management.
Steps to strengthen market risk management in order to The ERM Division also monitors the implementation of
face changes in economic conditions throughout 2023 liquidity management carried out by theTreasury Division.
include actively monitoring movements in market factors
that have the potential to impact the Bank. The Bank Policies and Procedures
monitors market indicators through the Early Warning BNI has prepared a Liquidity Risk Policy in the form of
System for the Forex portfolio and the Early Warning System Guidelines for Implementing Liquidity Risk Management,
for the Securities portfolio. which is further explained in the Liquidity Risk Management
Procedure which contains guidelines for implementing
To determine the potential impact of changes in internal liquidity risk management, including:
and external conditions on the bank, Scenario Analysis 1. Availability of Liquid Assets: Cash, Minimum Statutory
and Stress Testing have been carried out periodically and Reserve (GWM), Secondary Reserve, Tertiary Reserve,
incidentally. Periodic StressTesting uses scenarios that refer Early Warning Indicators, Liquidity Contingency Plan
to Regulatory provisions and the Bank’s internal scenarios. Head Office and Foreign Office.
Incidental Stress Testing Scenarios and Scenario Analysis 2. Liquidity Risk Measurement: Cash Flow Projection
adjust the conditions of macroeconomic factors and market Liquidity Ratio, Maturity Profile, Liquidity Adequacy
factors at that time. Each Foreign Office also carries out Ratio, Stress testing.
Stress Testing in accordance with internal regulations and 3. Calculation of Liquidity Coverage Ratio (LCR) and Net
local Regulatory regulations.The results of the stress testing Stable Funding Ratio (NSFR)
are used to prepare a Contingency Plan so that risks that 4. Monitoring Liquidity Risk.
occur can still be mitigated and managed well. 5. Liquidity Risk Control.
6. Determination of Liquidity Limits: Regional and Bank
LIQUIDITY RISK MANAGEMENT Cash Ceilings
Liquidity risk is the risk resulting from the inability to meet Wide, Safety Level limits, Maturity Profile Limits and
maturing obligations from cash flow funding sources and/ Foreign Exchange Credit Limits based on the availability
or from high quality liquid assets. of Foreign Exchange liquidity.
Liquidity risk is related to the possibility that the Bank will Process
not be able to fulfill short-term obligations to depositors, Liquidity risk management aims to minimize the possibility
investors and creditors, as well as fulfilling minimum of the Bank’s inability to obtain cash flow funding sources,
statutory reserves, which is due, among other things, to and build the structural liquidity strength of the bank’s
limited access to funding or the inability to liquidate owned balance sheet to support sustainable long-term growth.
assets at a reasonable price. 1. Identification
Liquidity Risk Identification is the process of obtaining
Liquidity risk management aims to minimize the possibility and analyzing sources of liquidity risk inherent in all
of the Bank’s inability to obtain cash flow funding sources, business activities/transactions/products that can have
and build the structural liquidity strength of the Bank’s a financial impact on the Bank. Each activity/product/
balance sheet to support sustainable long-term growth. transaction is analyzed and differentiated to ensure
that each liquidity risk has been identified, measured
BNI Liquidity Risk can occur due to the inability to obtain accurately, managed according to appropriate methods,
cash flow funding sources caused by: and controlled properly.
1. Inability to generate cash flows from productive assets 2. Measurement
or from sales of assets, including liquid assets. Liquidity Risk Measurement Methods include liquidity
ratios including Liquidity Coverage Ratio (LCR) and Net
Stable Funding Ratio (NSFR), maturity profiles, cash flow
projections, stress testing and the process of monitoring
and/or reporting Liquidity Risk carried out periodically,
including:
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a. Monitoring and reporting the magnitude of Liquidity b. Limit Safety Level which determines the minimum
Risk for all Bank activities/products that are exposed limit of liquidity reserves that the Bank needs to have
to Liquidity Risk; c. Maturity Profile Limits, which consist of rupiah
b. Monitoring and reporting on compliance with maturity profile limits and foreign currency maturity
Liquidity Risk limits (realization of Liquidity Risk profile limits.
exposure compared to the limit);
c. Monitoring early warning indicators (internal and Tools and Methods
external) to identify potential increases in Liquidity In managing liquidity risk, BNI uses daily cash flow
Risk; And projections and monthly maturity profiles, both contractually
d. Follow-up recommendations for limit exceedances and behaviorally, in order to determine appropriate and
and/or abnormal market conditions, and/or other accurate strategies to anticipate the bank’s liquidity
conditions that lead to an increase in potential conditions in the future.
Liquidity Risk.
3. Monitoring Early Warning Indicators
In managing liquidity, apart from managing primary Early warning indicators are described in internal and
reserves (cash and GWM), BNI keeps and maintains external indicators for normal conditions, moderate
secondary reserves to ensure liquidity is at a safe level. conditions or tight conditions for both Rupiah and foreign
As a secondary reserve, BNI maintains and maintains currency. Internal indicators used include trends in customer
tertiary reserves. Determination and monitoring of limits, funds, dominant customer concentration, and bank liquidity
namely BNI Wide Cash Ceiling limits, Safety Level limits, ratios. External indicators used include interest rate trends
Maturity Profile limits, and Foreign Currency Credit limits BI 7 Days Reverse Repo Rate, JIBOR (Jakarta Interbank
based on Fund Availability are carried out periodically Offered Rate), SOFR TERM, Outstanding Liquidity in the
by the ERM Division. Determination and monitoring of Market (Market Net Liquidity) and Credit Default Swap
limits are carried out periodically, including: (CDS) spread.
a. BNI Wide Cash Ceiling Limit which is the maximum
limit for maintaining a total BNI rupiah cash balance Determining bank liquidity in Normal, Moderate or Tight
consisting of Branch/Central Cash and Other Cash conditions is a reference in determining the Safety Level
(ATM Replenish Cash, ATM Cash and CRM Cash). (liquidity reserve limit) that must be provided by the bank.
b. Limit Safety Level is the minimum amount of Furthermore, the determination of liquidity conditions will
Secondary Reserve that must be maintained to become a guide in the Liquidity Contingency Plan (LCP),
anticipate TPF withdrawals based on the volatility of namely a set of guidelines in tight liquidity conditions which
each type of DPK and the volatility of loan disponibles include but are not limited to alternative strategic steps.
with a certain level of confidence.
c. Maturity Profile Limit is the cumulative behavioral Liquidity Stress Testing
maturity gap limit up to 1 month. This limit is a To determine liquidity resilience in crisis periods, liquidity
condition on the rupiah maturity profile limit and stress testing has been carried out periodically. Stress
the foreign exchange maturity profile limit. testing scenarios are carried out using bank-specific
scenarios (Idiosyncratic Scenario) and market stress
Restrictions on Foreign Currency Credit based on the scenarios (Market Wide Scenario). A specific scenario for
Availability of Foreign Currency Liquidity are a mechanism banks (Idiosyncratic Scenario) uses the assumption that
for controlling the maximum amount of foreign currency the bank is in liquidity difficulties due to loss of investor/
funds that can be channeled to provide onshore loans, depositor confidence in the bank.
offshore loans and local loans originating from conventional
and non-conventional funding sources, as well as a liquidity Meanwhile, the market stress scenario (Market Wide
risk mitigation mechanism based on the availability of funds Scenario) uses the assumption that there will be disruption
and not is the credit risk limit. Meanwhile, the availability to the market/financial system as a whole which will result
of all reserves is monitored daily, weekly and monthly by in disruption to bank operations.
the TRS Division and ERM Division.
The results of stress testing from this scenario will be used
4. Controlling for a liquidity funding plan so that risks that occur can still
Liquidity risk control is carried out in order to prevent be mitigated and managed well.
deeper losses due to liquidity risk, which is done by
setting limits on liquidity risk monitoring. Determination Liquidity Adequacy Ratio
and monitoring of limits are carried out periodically, In order to increase short-term liquidity resilience, BNI
including: manages the Liquidity Coverage Ratio (LCR) by maintaining
a. BNI Wide Cash Limit, reviewed semiannually and sufficient High-Quality Liquid Assets (HQLA) to meet
applied according to current liquidity conditions liquidity needs over the next 30 (thirty) day period in a
(normal/moderate/tight). stress scenario, in such a way that the bank can maintain
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the liquidity adequacy ratio always above 100% both ensuring the control runs well. This implementation
individually (bank only) and consolidated with Subsidiaries. is supported by the Enterprise Risk Management
Division and the Division
Apart from the LCR ratio, to manage long-term liquidity
resilience, BNI also manages the Net Stable Funding Operational Risk Management as a second line
Ratio (NSFR) ratio by maintaining stable funds to fund role is responsible for preparing risk management
stable assets. BNI maintains an NSFR ratio above 100% frameworks, policies, principles and methodologies.
for individual and consolidated positions with subsidiaries. Meanwhile, the third line role, namely the Internal
Audit Unit, has the role of Risk Assurance Unit
OPERATIONAL RISK MANAGEMENT which is responsible for independently assessing
Operational Risk occurs due to inadequacy or non- the effectiveness of the implementation of risk
functioning of internal processes, human error, system management and internal control. In addition,
failure, or external disturbances that affect the Bank’s periodic communication between Operational Risk
operations. Operational Risk Events are risk events that are Internal Control (ORIC) and the Operational Risk
inherent in every business and operational process carried Management Division is expected to increase the
out by the Bank and can trigger Reputation Risk, Legal Risk, effectiveness of communication between first line
Compliance Risk and other risks if not managed properly. roles and second line roles which in turn can improve
the quality of risk exposure identification.
With the increasing diversity and complexity of banking b. Operational Risk Management ProcessThe operational
products and activities offered to customers, the rapid risk management process includes identification,
development of supporting systems and technology, as measurement, monitoring and control of operational
well as increasing customer expectations for the services risks, which are described as follows:
provided by the Bank, operational risk management has 1) Identification
become very important. Risk identification is carried out proactively for
all activities, processes and products in order
In order to implement operational risk management, BNI to analyze the source, level of possibility of
refers to the provisions of Bank Indonesia or the Financial operational risk and the impact it causes. The
Services Authority, as well as International Best Practices. operational risk identification mechanism is
In order for operational risk management to run well, BNI carried out by implementing process mapping
has an Operational Risk Management Framework which of the work processes/activities of each unit to
consists of 6 (six) main components, namely: capture potential operational risks.
1. Business Strategy and Goals 2) Measurement
BNI’s business strategy and objectives as a reference in Risk measurement is carried out in order to
implementing operational risk management. determine the development and magnitude
2. Operational Risk Management Strategy Operational Risk of operational risk exposure as a reference
Management Strategy is formulated according to the for carrying out control and for the purposes
overall business strategy and objectives by taking into of calculating minimum capital requirements.
account the level of risk to be taken (risk appetite) and In order to calculate capital expenses and
risk tolerance (risk tolerance).The aim of establishing an operational risk RWA, currently the Bank uses
operational risk management strategy is to ensure that the Standardized Approach (SA) method in
operational risk exposure is managed in a controlled accordance with Financial Services Authority
manner in accordance with internal policies and Circular Letter No. 6/SEOJK.03/2020 dated 29 April
procedures as well as applicable laws and regulations 2020 concerning Calculation of Risk-Weighted
and other provisions. Assets for Operational Risk Using the Standard
3. Operational Risk Management Model Approach for Commercial Banks.
a. Operational Risk Management Governance. 3) Monitoring
BNI has implemented operational risk management Risk monitoring is carried out by all units as first
governance where all business units and support line roles regarding main risks while activities
units, both at home and abroad, act as Risk Owners are in progress. Meanwhile, the Operational Risk
or Risk Takers, which together with the Senior Management Division carries out evaluations
Operational Risk Executive (SORX) have roles as and reports/feedback on risk assessments based
first line roles. The Risk Owner is responsible for the on the results of self-assessments as well as
risks taken, execution and results (Day to day Risk realization of operational risk losses that occur,
Management & Control) while SORX is responsible for including:
• Feedback report for all Divisions/Units/Regions/
Branch
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• Monthly Operational Risk Loss Monitoring report 6) Branch Navigation, as a tool used by Branch
to the Board of Directors and Regional Leadership elements to carry out
• Operational Risk Profile Report performance, operational and risk monitoring
4) Controlling and supervision activities in accordance with the
Risk control is carried out to reduce and control Branches and Regions they manage on a daily
the impact and frequency of operational basis.
risks identified during the assessment and 7) Fraud Detection System, as a tool to capture
measurement stages. The risk control process is transaction anomalies after defects (before the
adjusted to the risk exposure and the level and incident).
tolerance of the risk to be taken. 4. Information Technology and Data
c. Operational Risk Policy and Capital The Operational The use and application of information technology and
Risk Management (ORM) Division has Operational integrated data for operational risk is able to produce
Risk Management Implementation Guidelines to complete and accurate reports in order to detect and
support the implementation of operational risk correct deviations in business processes in a timely
management in all units both at home and abroad. manner. Utilization of quality data produces analysis
This policy is described in more detail in Procedures that can be used in operational risk management and as
or Standard Operating Procedures as well as prudent supporting material in decision making by management.
technical transaction and operational instructions for 5. Human Resources (HR) and Risk Culture Effective
carrying out daily business activities such as: implementation of risk culture at BNI can create a
1) Operational Risk Management Procedures mechanism that involves all employees to identify and
2) Technical Instructions for Operational Risk prevent weaknesses and deviations early efficiently
Management and effectively.
3) SORX Technical Instructions 6. Assurance
The ORM Division calculates operational risk capital Assurance is an independent assessment activity by
to ensure BNI has sufficient capital to absorb the a third party on the implementation of the operational
operational risks faced. risk management framework.This assessment is carried
d. Tools and Method out by the Internal Audit Unit (IAD) and external parties
In implementing operational risk management, it of the bank.
is also necessary to be equipped with tools and
methodology. Tools applied in operational risk Tools and Methods
management include: Risk Control Self Assessment To assist the operational risk management process carried
(RCSA), Loss Event Database (LED), Key Risk Indicator out by each work unit, BNI has developed a website-based
(KRI), and Business Continuity Management (BCM). operational risk management tool called New PERISKOP
(Operational RiskTool). New PERISKOP has a very important
Apart from that, in order to improve risk culture and role, namely socializing Risk Culture and increasing Risk
risk awareness, BNI has implemented an operational Awareness because there are 4 (four) main processes in
risk culture for 2023, namely developing several tools, operational risk management that use this tool, namely
including: Risk Control Self Assessment (RCSA), Loss Event Database
1) DigiMS (Digital Inventory Management System), (LED), Key Risk Indicator (KRI), and Business Continuity
as an initiative to provide system records of Management (BCM).
securities inventory.
2) Awareness Supervisory Report (ASR)
3) Biometric Fingerprint, as an initiative to mitigate
the risk of fraud incidents in customer verification
activities and supervisor authorization as well as
speeding up the account bookkeeping process.
4) DigiCSLite, as an initiative to mitigate the risk
of fraud in Bank frontliner services and improve
customer experience through speed of digital
services.
5) Splunk, is an event correlation system whose
function is to identify correlations between events
to predict potential follow-up incidents of fraud,
problems, security events and business potential.
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New Periskop
Risk and Control Self Assessment (RCSA) is a series of activities carried out independently by each unit (risk owner)
Modul Risk and
in order to identify potential operational risks in their unit, look for the causes, measure potential losses (impact and
Control Self
frequency) that may arise and find solution to overcome it. In addition, a control assessment is carried out for each
Assessment (RCSA)
risk which will affect the inherent risk score (Inherent Risk).
It is an event database from the time of event occured until its resolution due to operational risks that occur in all
units in the Bank. Event data collected through the LED module, apart from being used for better operational risk
Modul Loss Event
management and preventing the occurrence of similar cases, is also used as a basis for calculating operational risk
Database (LED)
RWA in order to calculate capital requirements to cover operational risks using the Standardized Approach method
which will begin to be implemented in 2023.
Key Risk indicators are a measuring tool to identify potential operational risk losses attached to products and
Modul Key Risk
activities early and provide an early warning signal if they exceed a certain predetermined threshold to monitor
Indicator (KRI)
operational risk exposure and the effectiveness of the Bank’s controls
This is an effort to support the management of documentation on steps to handle the impact of disturbances/
Modul Business disasters and the recovery process so that bank operational activities and customer services can continue to run
Continuity in disaster conditions. This module consists of preparing a call tree, forming an Organizational Crisis Management
Management (BCM) Team (CMT) / Emergency Task Force (ETF), preparing a Business Impact Analysis (BIA), Threat and Risk Assessment
(TRA) and maintaining BCM infrastructure as well as recording monitoring of events and potential disaster.
With the existence of operational risk management tools/ Governance and Organization
solutions, BNI can provide great benefits, as follows: In disaster conditions, BNI has prepared a specific
1. Carry out the operational risk management process in organization in the form of a Crisis ManagementTeam (CMT)
all BNI units in an integrated solution which is expected and an Emergency Task Force (ETF) led by the Executive
to improve the quality of the Bank’s risk management. Management Team (EMT)/Unit Highest Leadership as the
2. Have a comprehensive, accurate and timely operational coordinator who has the highest level of authority. CMT/ETF
risk database. will be active if the Executive Management Team (EMT) as
3. Provide data analysis and Operational Risk Management the highest leader of the CMT/ETF declares an emergency/
reporting. disaster status.
4. Better operational and BCM risk management.
BUSINESS CONTINUITY MANAGEMENT BNI already has the infrastructure needed to implement
BCM such as the Disaster Recovery Center (DRC), Data
It is a disruption or disaster caused by natural factors, Center (DC), alternative locations for the BCM Building and
human actions, or systems that can occur in BNI’s critical BCM Center which are routinely managed for readiness.
business functions, causing disruption to BNI’s business
activities and services. Procedures and Technical Instructions
Regarding the implementation of Business Continuity
To anticipate this incident, BNI has implemented Business Management (BCM), BNI has determined:
Continuity Management (BCM) in all units both at home 1. Domestic Business Continuity Management (BCM)
and abroad, which is expected to minimize operational procedures
risks in the event of an emergency or disaster. 2. Technical Instructions for Domestic Business Continuity
Management (BCM).
The implementation of this policy is in line with Regulatory 3. Business Continuity Management (BCM) Policy for
regulations which require Banks to implement risk control Overseas Branches.
processes that could endanger the Bank’s business 4. Business Continuity Management (BCM) Procedure for
continuity, and is in line with the requirements in the Basel II Overseas Branches.
document which requires Banks to have business continuity 5. Crisis Management Protocol (CMP) Policy
management and emergency plans (Business Continuity 6. Business Continuity Management (BCM) Building
Management and Contingency Plan) in order to ensure the Governance Procedures
Bank’s ability to continue operating and minimize losses
if there is disruption to its business activities. In addition Process
to Regulatory and Basel II regulations, for Foreign Offices, Every step of the Recovery Strategy and Restoration
BCM is implemented in accordance with BCM regulations Strategy implemented is monitored and reported to
in the local country. the Crisis Management Team (CMT) until conditions are
declared normal again.To ensure the level of readiness and
evaluation of Business Continuity Management (BCM), BNI
carries out system testing in critical divisions/units every 3
(three) months, conducts site visits, socialization and disaster
management simulations regarding the implementation of
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BCM in all operational units carried out regularly every year well as increasing cyber resilience through strengthening
to determine the level of readiness of each unit, in terms cyber security. Standards for implementing digital risk
of its organization and BCM infrastructure. management and cyber security are also equipped with
robustness and cyber security testing, and are supported
The results of these routine evaluations and tests can be by effective reporting on the implementation of digital risk
seen from systematic and directed handling in dealing with management and cyber security so as to create effective,
disasters whether caused by humans, nature or systems efficient and safe services.
so that BNI’s operational activities at disaster locations
can continue to run at a certain level even though several Governance and Policy
facilities and infrastructure supporting business activities Digital risk management and cyber security strategies
are disrupted. are implemented within an effective and comprehensive
governance corridor, thereby creating risk management that
The BCM implementation process is carried out as follows: is proactive and forward looking.The implementation of risk
1. Establishment of a BCM organizational structure in all management governance at BNI is carried out through the
BNI work units. General Risk Management Policy (KUMR), framework and
2. Assess potential risks and threats to get an idea of procedures which are applied consistently and continuously
disaster events that have the highest probability of in accordance with regulatory provisions. Implementation of
occurrence and the greatest impact, as well as estimate risk management governance based on People, Process and
the actions and facilities that must be prepared. Technology, is the main foundation for implementing digital
3. Identify critical business processes (Business Impact risk management and cyber security for the Bank in meeting
Analysis – BIA) for BNI’s business continuity in the event customer expectations, stakeholders and regulators.
of an emergency/disaster. BIA is a reference for units in
developing recovery priorities and strategies as well as Process and Methods
recovery time frames for their main business activities. In managing digital risk management and cyber security,
4. Create a plan for handling emergency conditions as a BNI implements a structured process that involves a
reference for units in preventing and handling emergency series of activities through identification, assessment,
conditions and as a reference for implementing building measurement, monitoring and control of digital product
security and safety standards. and activity risks over 8 (eight) digital risk aspects, including:
5. Create a Recovery Strategy with the aim of preparing 1. Data privacy risk
an organized way to make decisions in the event of an 2. Cybersecurity risks
emergency that disrupts the Bank’s business activities. 3. Process automation risks
6. Create a Return Strategy with the aim of providing a 4. Third party risk
way to return functions and activities to the service level 5. Compliance risk
before the disaster occurred. 6. Resiliency risk
7. Workforce risk
The development of this tool is in line with Regulatory 8. Cloud related risks
regulations which require Banks to implement a risk control
process in managing risks that could endanger the Bank’s In managing risk, the Bank uses 2 (two) analytical method
business continuity, and is in line with the requirements approaches and modeling predictions from the data
in the Basel II document which requires Banks to have obtained. This method is carried out on an ongoing basis
business continuity management and emergency plans through collaboration between first line and second line,
(Business Continuity Management and Contingency Plan) as well as third line as evaluators and reviewers of risk
to ensure the Bank’s ability to continue operating and limit management implementation. The Bank also has several
losses if there is disruption to its business activities. In programs to strengthen digital risk and cyber security,
addition to Regulatory and Basel II regulations, for Overseas including digital product assessment, thematic review,
Branch Offices, BCM is implemented by complying with Cyber Security Incident ResponseTeam, Social Engineering
BCM regulations in the local country. Technique Program (SETP), etc., thereby producing an
effective, fast and efficient risk response. .
DIGITAL RISK MANAGEMENT
In line with the development of banking business innovation LEGAL RISK MANAGEMENT
that prioritizes platform-based and fully digital through Legal risk is a risk resulting from lawsuits and/or
the development of advanced digital capabilities with weaknesses in juridical aspects. BNI’s legal risks can
data-based business models, the Bank is strengthening originate, among other things, from weaknesses in the
risk management, especially related to digital risks, as juridical aspects caused by weak engagements carried out
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by BNI, the absence and/or changes in statutory regulations engagement factors and factors of absence or changes
which cause a transaction carried out by BNI to be not in in legislation in identifying Legal Risk. The results of
accordance with the provisions, and the litigation process the Legal Risk measurement are reflected in the Legal
arising from a lawsuit. third parties to BNI and BNI to third Risk Profile.
parties. 3. Monitoring
Legal risk monitoring is carried out by evaluating the
Governance and Organization inherent legal risk exposure, especially those that
Legal risk management is carried out by the Legal Division are material or have an impact on BNI’s capital. The
under the active supervision of the Director of Human monitoring results which include evaluation of legal
Capital & Compliance. In managing legal risk, the Legal risk exposure are compiled in a Legal Risk Management
Division collaborates with the Legal Management Unit Information System (Legal Risk MIS) which provides
or staff who handle legal functions in Divisions/ Units/ legal risk exposure reports periodically (monthly,
Regional Offices or other organizational units where the quarterly and annually) including necessary follow-up.
Legal Sector Work Unit functions as a ‘legal watch’, which 4. Control
provides legal analysis/advice to organizational units and/ Legal risk control is carried out especially for activities
or employees at every level of the organization to minimize that could endanger BNI’s business continuity.The legal
the possibility of negative impacts from weaknesses in risk control process is carried out, among other things,
juridical aspects, absence and/or changes in statutory by:
regulations and litigation processes. In managing legal a. Carry out assessments in the form of juridical studies
risk, the Legal Division collaborates with the Enterprise in the event that there are new bank products or there
Risk Management Division in regularly assessing and are additions/changes to features of BNI products.
monitoring the implementation of Legal Risk Management. b. Providing legal advice and/or legal assistance in the
event that there are legal risks in operational activities.
Policies and Procedures c. Conduct regular reviews of standard agreement
Implementation of legal risk management refers to the formats, especially credit agreements, to ensure
Company’s Legal Risk Management Guidelines and other compliance with applicable laws and regulations
policies related to legal risk management. and other provisions.
d. Conduct regular reviews of contracts and agreements
In order to stipulate the appropriate Legal Risk Management between BNI and other parties, including by
policies, the Legal Division and Enterprise Risk Management reassessing the effectiveness of the enforcement
Division evaluate and update Legal Risk control policies and process to check the validity of rights in existing
procedures periodically, in accordance with developments contracts and agreements, especially for non-
in applicable regulations and legislation. standard agreements or agreements that have not
been standardized in the Guidelines BNI Company.
Process e. Carry out intensive monitoring of legal issues,
In carrying out the Legal Risk control function, BNI especially lawsuits based on Unlawful Acts involving
implements legal risk management policies in a process the Bank as a Defendant or Co-Defendant.
flow consisting of:
1. Identification STRATEGIC RISK MANAGEMENT
Legal risk identification is carried out regularly and Strategic Risk is the risk resulting from inaccuracy in
continuously. The legal risk identification process making and/or implementing a strategic decision as well
is carried out by analyzing all sources of legal risk, as failure to anticipate changes in the business environment.
which at least includes legal risks from BNI products BNI’s strategic risks can originate from weaknesses in the
and business activities as well as legal risks from new strategy formulation process and inaccuracies in strategy
products and activities through an appropriate legal risk formulation, inadequate management information systems,
management control process before they are introduced inaccurate results of internal and external environmental
or implemented. The process of identifying legal risks analysis, overly aggressive strategic goal setting,
inherent in the Bank is carried out using indicators/ inaccuracies in strategy implementation, and failure to
parameters: anticipate changes. business environment.
a. Litigation Factors
b. Engagement Weakness Factors
c. Absence/Change in Legislation Factors
2. Measurement
Legal risk measurement is carried out using comparison
parameters between the nominal claim from a third party
against BNI’s capital, indicators of litigation factors, weak
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Corporate Governance and Organization in each functional activity that have the potential to harm
Strategic Risk Management is carried out by the Corporate BNI, for example due to inappropriate policies, lack of
Planning & Performance Management Division, under the responsiveness to changes that occur, implementation
active supervision of the Finance Director. of policies that are not according to plan, or because of
their implementation. not according to the predetermined
Strategic Risk Management is carried out through a series schedule.
of strategic planning processes in the form of planning and
budgeting which includes aligning company strategy with 2. Measurement
unit strategy as well as cascading bank wide targets into Strategic risk measurement is carried out using 4 (four)
unit targets as outlined in the planning document. parameters, namely: suitability of strategy to business
environmental conditions, high-risk strategies and low-
The mechanism for preparing strategic planning documents risk strategies, the Bank’s business position relative to
begins with preparing a Corporate Plan as a reference for competitors and achievement of the realization of the
setting targets and strategies that will serve as a guide in Bank’s Business Plan (RBB).
preparing the Bank’s Business Plan.
Apart from that, measuring the quality of risk
Strategic planning documents include: management implementation can be reviewed from the
1. Corporate Plan. Corporate plan document prepared to results of governance, risk management framework, risk
achieve the Bank’s long-term goals for 5 (five) years management processes, information and HR systems,
2. Bank Business Plan (RBB). Short-term (one year) and and risk control systems.
medium-term (three years) Bank business activity plan
document. A detailed strategic risk profile assessment is outlined
in the strategic risk profile report guided by the BNI Risk
The mechanism for preparing strategic planning documents Profile Assessment Procedure.
begins with preparing a Corporate Plan as a reference for
setting targets and strategies that will be set as a guide in 3. Monitoring
preparing the Bank’s Business Plan. Strategic risk monitoring is carried out by taking into
account past experiences of losses caused by strategic
Furthermore, the Bank’s Business Plan will become a risks and/or deviations from the implementation of
reference for preparing Operational Planning as outlined strategic plans.
in the Division/Unit/Region and Branch/Central Business
Plan. The Regional Business Plan will be a reference in For a bank wide scope, BNI has established a work unit
preparing the Branch/Central Business Plan. Through this that analyzes and monitors the realization of business
mechanism, it can be ensured that the strategy alignment strategies and work programs against targets, in this
process is maintained from the corporate level to the lowest case, the Corporate Planning & Perfomance Management
unit (branch). (CPM) Division, including financial targets.
The Corporate Plan document is reviewed every 5 (five) Meanwhile, for the scope of the Division/Unit/Unit,
years to adapt to changes in the business environment. supporting units and/or other specific units are appointed
to analyze and monitor the realization of business
The Bank Business Plan and Business Plan Unit documents strategies and work programs versus the strategy
are reviewed in Semester I, every year, and can even implementation targets for the Division/Unit/Unit on
be carried out in a shorter period of time if significant a regular basis.
environmental changes occur.
The mechanism for monitoring the achievement of
Policies and Procedures established business plans is carried out by comparing
Implementation of strategic risk management refers to the targets against business realization with the following
Company’s Implementation Guidelines for Strategic Risk conditions:
Management as well as Policies and Procedures, including a. Monitoring of company performance and strategy
Company Guidelines for Bank Product Implementation (bankwide) is carried out on a monthly basis.
Procedures. b. Division performance monitoring is carried out
quarterly.
Process c. Monitoring of the performance achievements of the
In carrying out the Strategic Risk control function, BNI company and all units is carried out semi-annually
implements strategic risk management policies in a process in Business Meeting forums at the Head Office and
flow consisting of: Regional Offices.
1. Identification 4. Control
Strategic risk identification is carried out periodically and Strategic risk control is carried out by comparing actual
continuously. The strategic risk identification process is results with expected results to ensure that the risks
carried out by identifying strategic risk factors inherent taken are within tolerance limits and reporting significant
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deviations to the Board of Directors. The risk control Financing, and Prevention of Funding for the Proliferation
system is approved and reviewed periodically by the of Weapons of Mass Destruction (APU PPT and PPPSPM),
Board of Directors to ensure its sustainable conformity. Implementation Procedures APU PPT PPPSPM Program,
Compliance Charter, Company Guidelines for Procedures
The strategic risk control mechanism is carried out on for Handling Conflicts of Interest, Company Guidelines for
the results of monitoring the following factors: Gratification Control, Company Guidelines for Anti-Bribery
a. Achievement of BNI’s performance compared to Management Systems.
proportional targets and current year targets on a
monthly basis in the Board of Directors Meeting Process
forum (Radisi) which can take strategic action to In order to contribute to BNI’s healthy and sustainable
manage strategic risks. business growth, the Compliance Division assists the
b. Realization of the Business Plan strategy for each Human Capital & Compliance Director in implementing
Division/Unit so that problems in implementing compliance functions and carrying out compliance risk
strategies and work programs can be identified to management processes, including:
be immediately corrected so that the financial targets 1. Identify Compliance risk identification is carried out to
that have been set can be achieved on a quarterly identify all types of risks inherent in each functional
basis. activity that have the potential to harm BNI, namely
c. Realization vs. target of the Bank’s Business Plan to factors that can increase compliance risk exposure,
be reported to the Financial Services Authority (FSA) such as:
on a quarterly basis. a. Type and complexity of BNI business activities,
d. Performance achievements of the Bank and all units including new products and activities.
are carried out semi-annually in Business Meeting b. The number (volume) and materiality of BNI’s non-
forums at the Head Office and Regional Offices. compliance with internal policies and procedures,
statutory provisions and/or regulations as well as
The Board of Directors always monitors the realization of sound business ethical practices and standards.
strategy implementation and achievement of targets stated 2. Measurement
in the Bank Business Plan (RBB) on a regular basis. If there Compliance risk measurement is carried out by using
is a strategy implementation and RBB achievement that indicators/parameters in the form of:
does not meet the target the The Board of Directors asked a. The type and significance of the violation conducted.
the relevant units to make improvements. b. Frequency of violations of provisions (BNI compliance
track record).
COMPLIANCE RISK MANAGEMENT c. Violation of certain financial transaction provisions.
Compliance Risk is the risk resulting from the Bank As part of measuring compliance risk, the indicators/
not complying with and/or not implementing laws and parameters as well as the weights and ratios used to
regulations. BNI compliance risks can originate from, measure the compliance risk profile are determined by
among other things, legal behavior, namely BNI behavior/ the Compliance Division by taking into account input
activities that deviate or violate statutory provisions or from the Board of Directors, Enterprise Risk Management
regulations and organizational behavior, namely BNI (ERM) Division and other Units as well as Regulatory
behavior/activities that deviate or conflict with general provisions.
standards. Compliance risk management is carried out
through consistent implementation of an internal control A detailed compliance risk profile assessment is outlined
system. in the compliance risk profile report guided by the BNI
Risk Profile Assessment Procedure. Compliance Risk
Governance and Organization Assessment is carried out by conducting compliance
Compliance Risk Management is carried out by the assessments or tests on policies that will/have been
Compliance Division (CMP) which is under the active implemented, new bank products, as well as compliance
supervision of the Risk Management Director. Anti-fraud opinions on transactions that will be carried out by BNI.
management is carried out in collaboration with the Anti-
Fraud Unit (AFR) which is under the active supervision of the 3. Monitoring
Director of Risk Management. Meanwhile, the management Compliance risk monitoring includes monitoring and
of the whistleblowing system is carried out in collaboration reporting Compliance Risks that occur to the Board of
with the Internal Audit Unit (IAD) which is under the active Directors either at any time when the Compliance Risk
supervision of the President Director. occurs or periodically regarding:
a. Maximum Lending Limit;
Policies and Procedures b. Net Open Position;
Implementation of Compliance Risk Management refers c. Minimum Mandatory Giro in rupiah and foreign
to the Compliance Risk Management Company Guidelines exchange;
as well as other related Policies and Procedures including d. Establishment of Allowance for Productive Assets;
Company Guidelines for Compliance Work Procedures, e. Non-performing loans;
Anti-Money Laundering Policies, Prevention of Terrorism
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f. Minimum Capital Adequacy Ratio; customer complaints/complaints through customer
g. Reporting obligations to external parties; service or via mass media and social media, as well as
h. Implementation of Bank commitments to external customer satisfaction questionnaires.
parties;
i. Compliance Risk Level; BNI must record and administer every event related to
j. Bank Composite Risk Rating. Reputation Risk, including the amount of loss resulting
4. Control from the incident in question in a data administration.
Compliance risk control is carried out by exante The recording and administration of this data is
(preventive) actions or steps to ensure that policies, compiled into data that can be used to project losses
provisions, systems and procedures, as well as business for a certain period and activity. Each group of data and/
activities carried out by BNI are in accordance with or information is handled differently according to the
the provisions of the Financial Services Authority reputation risk impact it creates.
(FSA), Bank Indonesia (BI ) and the Ministry of State-
Owned Enterprises (KBUMN), as well as applicable 2. Measurement
laws and regulations, and ensure BNI’s compliance Reputation risk measurement is carried out by using
with commitments made by the Bank to Regulators parameters:
(dhi. FSA and BI), and/or other competent supervisory a. Frequency, Materiality and Exposure of Negative
authorities. Compliance Risk Control is not only carried News about BNI Frequency, type of media and
out on domestic organizational units but also includes materiality of news about BNI, including the Bank’s
organizational units abroad. BNI must ensure that it management, by measuring and indicators as follows:
has an adequate level of compliance with the laws and 1) Frequency and scale of reporting on BNI and
regulations in the country of the BNI branch office. Subsidiaries in print and online media.
2) The materialization of the news is assessed based
REPUTATION RISK MANAGEMENT on BNI’s follow-up response to the news.
Reputation Risk is the risk resulting from a decrease in the b. Frequency and materiality of Customer Complaints,
level of stakeholder trust which originates from negative measurements and indicators, include:
perceptions of the Bank. Reputation risk originates from 1) Frequency of customer complaints
events that have harmed the Bank’s reputation, for example 2) Resolving Customer Complaints
negative news in the mass media, violations of business 3) Materiality of customer complaints
ethics, and customer complaints as well as other things c. Frequency and materiality of violations of business
that can cause Reputation Risk, for example weaknesses ethics/generally applicable business norms, including:
in governance, corporate culture and the Bank’s business 1) Frequency and scale of news related to Financial
practices and BNI’s communication strategy is less effective. Information Transparency.
2) Frequency and scale of news regarding BNI’s
Governance and Organization business collaboration with other stakeholders.
Reputation risk management is carried out by the 3. Monitoring
Corporate Secretary Division (CSE) which is under the Bank wide reputation risk monitoring is carried out by
active supervision of the President Director. Monitoring the Corporate Secretary Division (CSE), by reporting
of news reports (news management) and management of Reputation Risk that occurs to the Board of Directors
communication crises as well as monitoring of news media either incidentally at the time of the incident, or
or social media opinions/comments are carried out by the periodically including any necessary follow-up.
Corporate Secretary Division. Meanwhile, management
of customer complaints/complaints is carried out by the Monitoring the news (news management) and managing
Customer Experience Center (CXC) Division. crisis communications as well as monitoring opinions/
comments on news media or social media as well as
Policies and Procedures selecting strategies to respond to opinions developing
Implementation of reputation risk management refers to on social media are carried out by the Corporate Secretar
the Company’s Reputation Risk Management Guidelines Division (CSE). Meanwhile, management of customer
and other related Policies and Procedures. complaints/complaints is carried out by the Customer
Experience Center (CXC) Division.
The processes
The Corporate Secretary Division and Customer Experience Daily, weekly, monthly, quarterly and annual evaluations
Center Division assist the Institutional Banking Director in of the reputation risks faced by BNI are outlined in the
implementing reputation risk management functions and Media Monitoring Report.
processes, including through the following processes:
1. Identification
Reputation risk identification is carried out from several
data/or information sources, including mass media
reports, BNI website and social media network analysis,
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4. Control the suitability of assumptions, data sources and
BNI immediately follows up and resolves customer procedures used to measure intra-group transaction risk.
complaints and lawsuits that can increase Reputation 3. Monitoring
Risk exposure and has also developed a mechanism for Intra-group transaction risk monitoring is carried out
effective reputation risk control. by evaluating intra-group transaction risk exposure
In general, reputation risk control is carried out through that is material or has an impact on the capital
2 (two) things, namely: condition of the Financial Conglomerate; as well
a. Prevention of events that pose reputational risks. as improving the reporting process and coverage,
b. Restoring BNI’s reputation after events that pose a among other things, if there are material changes
reputational risk. in business activities, products, transactions
Some risk control efforts are by: and risk factors. To assess material intra-group
a. Standardize the competency of public relations/public financial relationships between LJKs in the BNI
relations staff in the Corporate Secretary Division, regional/ Financial Conglomeration, it is measured based on
regional offices so that they have the ability and sensitivity the value of BNI’s financial transactions with LJK
to respond to developing issues and opinions. members of the BNI Financial Conglomeration, as
b. Establish a Service Level Agreement (SLA) as a well as between fellow LJKs in the BNI Financial
standard for speed in responding to customer Conglomeration.
complaints. Reputation Risk Management during a 4. Control
crisis is carried out through establishing a standard Intra-group transaction risk control on BNI Financial
Crisis Contingency Plan which is implemented when a Conglomeration is carried out with notice:
crisis occurs from a mild to a severe scale. The Crisis a. Composition of inherent risk parameters of
Contingency Plan consists of: intragroup transactions in the integrated risk profile
1) Problems or chronological review; assessment;
2) Information flow; b. Fulfillment of the arm’s length principle (transaction
3) Person in charge assignment; fairness) regarding intra-group transactions;
4) Authority and spokesperson establishment; c. Availability and completeness of intra-group
5) Crisis management activities schedule; transaction documentation; And
6) Alternative communication strategies; d. Fulfillment of applicable legal/regulatory provisions
7) Evaluation. for each intra-group transaction
Reputation Risk Mitigation and related incidents giving INSURANCE RISK MANAGEMENT
rise to Reputational Risk is carried out by consider the Insurance risk is a risk resulting from the failure of an
materiality of the problem and costs. However, Reputation insurance company to fulfill its obligations to policyholders
Risk may be accepted as long as it is in accordance with as a result of inadequacies in the risk selection process
the level of Risk to be taken. (underwriting), determining premiums (pricing), use of
reinsurance, and/or handling claims.
INTRA-GROUP TRANSACTION RISK MANAGEMENT
Intra-group transaction risk is a risk resulting from an entity’s The insurance risk management process includes:
dependence, either directly or indirectly, on other entities 1. Identification
within a Financial Conglomeration in order to fulfill written Identification of group insurance risks is carried out
and unwritten agreement obligations, whether followed by analysis of factors that can increase insurance risk
by a transfer of funds and/or not followed by a transfer exposure, such as inadequacies in the risk selection
of funds. The intra-group transaction risk management process (underwriting), premium determination (pricing),
process includes: use of reinsurance, and/or claims handling.
1. Identification 2. Measurement
Identification of intra-group transaction risks is carried Measuring the insurance risks faced by BNI can be
out by analyzing the types of products and/or transactions done using the parameters Technical Risk, Dominance
between LJKs in the BNI Financial Conglomerate which of Insurance Risk in Overall Business Lines, Product Risk
could give rise to intra-group transaction risks in the BNI Mix and Types of Benefits and Reinsurance Structure.
Financial Conglomerate. 3. Monitoring
2. Measurement Insurance Risk Monitoring includes monitoring and
The aim of measuring intra-group transaction risk is reporting Insurance Risks that occur to the Board of
to obtain a ranking of the level of risk of the Financial Directors at any time when the Insurance Risk occurs
Conglomerate’s intra-group transactions. Things that or periodically to:
need to be done by BNI as the main entity in measuring
intra-group transaction risk is to develop a methodology
for measuring intra-group transaction risk and evaluate
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a. Ratio of Technical Reserves to Net Premiums. BNI RISK PROFILE ASSESSMENT
b. Claim Ratio.
c. Net Premium Ratio to Own Capital. BNI’S INDIVIDUAL RISK PROFILE
d. Lapse Ratio. Risk Profile Assessment is an assessment of the inherent
e. Domination of insurance risk over all business lines. risks and quality of risk management implementation in
f. Reinsurance Management the Bank’s operational activities. The risks that must be
assessed consist of 8 (eight) types of risk. In assessing the
Monthly evaluations of insurance risks faced by BNI are Risk Profile, Banks are also required to pay attention to the
outlined in the Leading Risk Indicator Report which is scope of risk management implementation as stipulated
submitted to the Director of the Risk Management Sector. by the regulator.
4. Control Inherent Risk Assessment
Insurance risk control is carried out by maintaining Inherent Risk Assessment is an assessment of the risks
insurance risk ratios at their threshold and carrying out inherent in the Bank’s business activities, both those that
improvement initiatives to improve ratios that are still can be quantified and those that cannot, which have the
considered high risk and ensuring that the risks taken potential to affect the Bank’s financial position. The Bank’s
are still within tolerance limits and reporting significant inherent risk characteristics are determined by internal
deterioration to the Board of Directors. and external factors, including business strategy, business
characteristics, complexity of the Bank’s products and
RISK MANAGEMENT OF NEW activities, the industry in which the Bank conducts business
PRODUCTS AND ACTIVITIES activities, and macroeconomic conditions.
Each Bank’s product development plan goes through Assessment of inherent risks is carried out by taking into
a risk management process including identification, account quantitative and qualitative parameters/indicators.
measurement, monitoring and control which covers 8 (eight) Determination of the level of inherent risk for each type
types of risk including credit, market, liquidity, operational, of Risk refers to the general principles of assessing the
legal, strategic, compliance and reputation risks which are Soundness Level of Commercial Banks. Determination of the
packaged in a risk assessment comprehensive new bank level of inherent risk for each type of risk is categorized into
products and activities. Bank product risk management is rank 1 (low), rank 2 (low to moderate), rank 3 (moderate),
carried out based on internal regulations which refer to rank 4 (moderate to high), and rank 5 (high).
regulatory provisions.
Quality Assessment of Risk Management Implementation
In order to issue new products, BNI has policies and The assessment of the quality of Risk Management
procedures to manage the risks inherent in new products implementation reflects an assessment of the adequacy
which include: of the Risk control system which covers all pillars of
1. Business study to find out whether the new product Risk Management implementation as regulated in the
provides benefits or is in line with BNI’s vision and provisions of the Financial Services Authority regarding the
mission. implementation of Risk Management for Commercial Banks.
2. Systems, procedures (Standard Operating Procedures) The quality of Bank Risk Management Implementation
and authority in managing new products. varies greatly according to the scale, complexity and level
3. Identify all risks (credit, market, liquidity, operational, of risk that the Bank can tolerate. Thus, in assessing the
legal, reputation, strategic and compliance risks) inherent Quality of Risk Management Implementation, it is necessary
in new products, both related to business activities and to pay attention to the characteristics and complexity of
customers. the Bank’s business. The assessment of the quality of Risk
4. Trial period for risk measurement and monitoring Management implementation is an assessment of 4 (four)
methods for new products. interrelated aspects, namely:
5. Accounting information system for new products. 1. Risk governance.
6. Legal analysis for new products. 2. Risk Management Framework.
7. Transparency of information to customers. 3. Risk Management Process, adequacy of human
8. Customer protection is in accordance with provisions resources and adequacy of management information
regarding Consumer Protection. systems.
9. Protection of Personal Data. 4. Adequacy of the Risk control system, taking into account
the characteristics and complexity of the Bank’s business.
The KPMR level is determined comprehensively and
identifies the strengths and weaknesses of each pillar of Risk
Management. The KPMR level for each risk is categorized
into 5 (five) levels, namely:
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1. Rank 1 (Strong)
2. Rank 2 (Satisfactory)
3. Rank 3 (Fair)
4. Rank 4 (Marginal)
5. Rank 5 (Unsatisfactory)
BNI Risk Profile Assessment Results
The results of the BNI Individual Risk Profile self-assessment for position 31 December 2022 are rank 2 (Low to Moderate)
with an Inherent Risk Rating of Low to Moderate and a Satisfactory Risk Management Implementation Quality (KPMR)
rating, with the following details:
2023 2022 2021
Inherent Risk Low to Moderate Low to Moderate Low to Moderate
KPMR Satisfactory Satisfactory Satisfactory
Risk Rating 2 2 2
BNI’S INTEGRATED RISK PROFILE
Based on the results of the Integrated Risk Profile assessment which has been carried out on 10 (ten) types of risk as of 31
December 2022, it is ranked 2 (low to moderate) with an Inherent Risk Rating of low to moderate, while the assessment
of BNI’s Integrated Risk Management Implementation Quality (KPMR) is satisfactory, which means that:
1. The possibility of losses faced by the Financial Conglomerate as a whole is relatively low over a certain period of
time in the future.
2. The composite quality of Risk Management Implementation is adequate, although there are minor weaknesses that
require management attention, but these weaknesses can be resolved during normal business activities.
The results of the detailed Integrated Risk Profile assessment are as follows:
2023 2022 2021
Inherent Risk Low to Moderate Low to Moderate Low to Moderate
KPMR Satisfactory Satisfactory Satisfactory
Risk Rating 2 2 2
RISK MATURITY INDEX (RMI)
RMI is an index used to measure the effectiveness and quality of implementing Risk Management in protecting and
creating value. Based on the Letter of the Ministry of BUMN No. S-31/Wk2.MBU.A/09/2020 was submitted in order to
implement the strategic plan of the Ministry of BUMN for 2020 – 2024, in accordance with Minister of BUMN Regulation
No. PER-08/MBU/08/2020 requires strengthening the Risk Management function, one of which is determining the RMI
value as one of the main performance indicators for improving BUMN Risk management. In connection with this, BNI has
carried out an RMI assessment with the assessment results achieving a “Managed” score. In order to fulfill compliance
with BUMN Ministerial Regulation No. PER-02/ MBU/03/2023, an ongoing RMI assessment will be carried out taking into
account the decision of the deputy for finance and risk management of KBUMN No. SK-8/DKU.MBU/12/2023 dated 6
December 2023 concerning RMI technical instructions. The RMI assessment will be carried out based on performance,
namely combining RMI assessments based on 5 dimensions, namely (1) risk culture & capability, (2) risk organization &
governance, (3) risk & compliance framework, (4) risk processes & controls, and ( 5) risk models, data and technology,
with performance realization consisting of Final Rating Health Level and Risk Composite Rating.
IMPROVING HR CAPABILITY RELATED TO RISK MANAGEMENT
In order to implement quality risk management, BNI carries out Human Resources (HR) management and develops the
quality of its human resources on an ongoing basis through:
1. Establishment of a Risk Academy Unit
In order to improve risk skills, with the following main responsibilities:
a. Develop a framework for developing learning in the Risk sector at all levels in coordination with the Strategy &
Governance Team – BNI University.
b. Manage activities to design and develop the Curriculum / Learning Journey, Course Design and Delivery & Deployment
framework in the Risk area according to the objectives of developing the required capabilities, coordinating with
the relevant Organizational Unit and Human Capital Business Partner (HCBP).
c. Identify the development of Curriculum/Learning Journey, Course Design and Delivery & Deployment Framework
Risk to be carried out internally or in collaboration with 3rd parties through procurement/partnership processes.
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d. Manage the identification of Risk Module development OJK Letter No. S-10/D.03/2023 concerning Relaxation
to be carried out internally or in collaboration with 3rd of Risk Management Certification for Commercial
parties through the procurement process or through Bank Human Resources, it is stated that prospective
partnerships. members of the Board of Directors and prospective
e. Identify potential alliances/collaborations and members of the Board of Commissioners will be
partnerships with other training/educational proposed to take part in the Capability and Proper
institutions related to Risk Capabilities including Assessment (PKK) process but do not yet have a
preparing, negotiating framework agreements for management certificate risks according to the
partnerships and alliances/collaborations through provisions, must first take part in the risk management
Cooperation Agreements/Memorandums of debriefing/training program organized by the
Understanding. Indonesian Banking Development Institute (LPPI).
f. Manage the identification of learning evaluation/ f. Enrichment Operational Risk Management for
learning impact measurement needs related to Employees/Local Staff of Foreign Offices (KLN)
learning in the Risk area in coordination with the 1) In order to increase risk culture and risk awareness
Assessment & Competency Team, BNI University. for all KLN employees/local staff.
g. Manage the preparation and monitor the annual 2) Preparation of standardization of operational
budget for all implementation of risk-related capability risk management competencies for KLN local
and competency development activities. employees/staff
h. Manage the implementation of the procurement g. Operational Risk Workshop
process related to the development of learning in In order to increase control activities to mitigate
the Risk area. operational risk and prevent fraud and have a
commitment to carry out control duties as a leader.
Through the Risk Academy, BNI has organized risk learning h. Optimization of New PERISKOP & Socialization of
programs in order to improve the capability and quality of NWOW Implementation of ORIC Function
human resources, including: 1) Optimizing the use of the New PERISKOP
a. Small Business Credit Risk Awareness & RBC RBW application for operational risk management.
Risk Awareness 2) Provide an understanding of the assessment of
1) Provide strengthening in the loan management potential risks and controls as well as the benefits
stage to form a loan portfolio that grows of using the New PERISKOP operational risk tools
sustainably and has quality. (RCSA, BCM, LED and KRI).
2) Providing equal information and understanding 3) Aligning Internal Control transformation to
regarding economic and technological conditions strengthen operational risk monitoring.
as well as transformation. 4) Increase employee concern/awareness at outlets
3) Minimize fraud and increase awareness and regarding potential operational risks in managed
consciousness among all employees. units.
b. Anti Fraud Awareness in 2023 5) Monitoring the condition and adequacy of life
In order to increase employee competency to safety and building security facilities as well as
understand operational risks for Anti Fraud Division the implementation of BCM and preparedness,
employees and Regional Internal Control group readiness at several outlets (Territory/ KC/ KCP/
leaders, to strengthen related understanding: KK/ Sentra) on a sampling basis.
1) Banking fraud which has the potential to become
a criminal act of corruption i. ORIC – SORX 2 Function Onboarding
2) Products and risks of banking activities In order to strengthen ORIC – SORX 2 capabilities
c. Reinforcement Co-Corporate Credit Risk Manager in terms of:
In order to increase knowledge in managing corporate 1) Become a partner in providing initial assessments
credit in an end to end process. in the form of consultancy and advisory to risk
d. Increasing the Capability of Retail Credit Risk Division owners.
Employees in Managing Program Credit Risk (KUR 2) Strengthening the internal control function with
and BWU) the establishment of SORX.
In order to support BNITransformation and strengthen 3) Accountable to ensure controls run well for
risk management in managing credit risk (KUR and operational risks.
BWU). 4) Agent and change in implementing risk culture
e. Risk Management Provision for Commissioners in its management.
Banking risk management is a skill that every banker j. ORIC – SORX 1 Function Onboarding
must have, especially at the commissioner level, The implementation aims to strengthen ORIC – SORX
as stated in POJK No. 17/POJK.03/2014 concerning 1 capabilities in terms of:
Implementation of Integrated Risk Management
for Financial Conglomerates and POJK no. 18/
POJK.03/2016 concerning Implementation of Risk
Management for Commercial Banks
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1) Communication and presentation skills, critical r. Sharing Session “Resolving Land Issues as Credit
thinking and conflict management. Collateral”
2) Sharpening understanding of the industry, risk Increasing BNI employees’ understanding of land
management systems and potential risks in issues as credit collateral by bringing in practitioners.
commercial credit business processes. s. Retail Collection & Recovery (RCR) Division
k. Basic Risk Competencies Leadership Skills Training
In order to introduce and increase understanding 1) Increase employee understanding regarding the
of risk and awareness of risk management concepts differences in directing, coaching and mentoring
in daily work. approaches and their application in various
l. RMT Leaders Development Series – NwoW situations.
Implementation is carried out for all Department 2) Increase understanding regarding the benefits and
Heads (Risk Management sector), so that: process of coaching and create self-awareness in
1) Have a good understanding of the NWoW improving work performance.
transformation, including the role and function 3) Conduct structured and consistently scheduled
of the Department Head. coaching programs and sessions.
2) Have an agile mindset and be sensitive to changes t. Indonesia Coal Outlook Conference
and risk developments. In order to study the latest developments regarding
3) Manage the supervised units end to end. the coal industry in Indonesia.
4) Direct and together with the team master the u. 19th Indonesian Palm Oil Conference (IPOC) 2023
risk portfolio and motivate the team to develop In order to increase knowledge of the performance
strategies within their respective management of the Indonesian palm oil industry sector along
areas. with the latest issues and projections which are very
5) Apply fairness to the team, both when the team relevant for industry players and BNI as the bank that
has archived or under-performed and monitor distributes financing to this industrial sector
the team’s performance on a day to day basis. v. Operational Risk Mitigation Workshop
m. COSO (Committee of Sponsoring of the Treadway Provide the knowledge to carry out identification of
Commission) – Internal Control for SORX 1, SORX each business activity and overall operations.
2, SORX 3 and SORX 4
Implementation in order to facilitate the 2. Risk Management and Refreshment Certification
implementation of controls and assess the Owning a Risk Management Certificate for HR is
effectiveness of the internal control system. determined for Members of the Board of Directors,
n. Indonesia’s Risk Management Outlook 2024 Members of the Board of Commissioners, Independent
In order to provide valuable opportunities for BNI Parties of the Risk Monitoring Committee, Executive
employees regarding trends, developments and Officers and Officials other than Executive Officers in the
best practices in risk management, in the form of risk management work unit, compliance work unit and
presentations and panel discussions, so as to enrich internal audit work unit as well as the main operational
knowledge and insight into the industry and relevance work unit that undertakes and carry out decisions on risks
to BNI’s business strategy. including credit, treasury, information technology and
o. Loan Origination System (LOS) Retail Credit Risk finance. For those who have received Risk Management
(RTC) Division Employees Certification, BNI continues to carry out education with
Implementation in order to achieve increasingly a refreshment program to maintain the competency of
challenging credit growth targets and credit processes Risk Management Certificate holders or holders in the
that have developed in the digital era. field of Bank risk management.
p. PublicTraining National Anti Fraud Awareness (NAFC) 3. E-Learning Method
Jer Basuki Mawa Beya BNI also carries out risk management education through
Provides the opportunity to obtain the latest issue the e-learning method which can be done independently
information related to prevention, detection and by all BNI employees via the BNISmarter portal. This
investigation activities in fraud, both conceptually aims to increase the knowledge and risk awareness of
and technically all BNI employees through materials that have been
q. Refreshment Restructuring & Negotiation Skills prepared as learning materials.
for Retail Collection & Recovery (RCR) Division 4. Socialization and Education
Employees BNI supports all employees in participating in education
In order to improve employees’ ability to understand and socialization through seminars and training
and understand asset quality improvement programs organized by external and internal parties
and accelerate credit recovery as well as good and
effective negotiation and communication techniques
in the collection process.
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RISK MANAGEMENT ACTIVITIES In implementing stress testing, BNI carries out 2 (two)
REPORT IN 2023 approaches, namely by using historical or hypothetical
scenarios to measure the impact of an extreme condition
In connection with the Bank Health Level (TKB) assessment or series of events (scenario stress testing) and testing
and Individual Risk Profile Assessment during 2023, BNI the sensitivity of the Bank’s exposure, activity or risk to a
has prepared and reported as follows: variable or certain parameters (sensitivity analysis). The
1. The Bank’s Health Level uses an Individual Risk Based implementation of stress testing at BNI covers the main
Bank Rating (RBBR) approach, which includes an types of risk, namely Credit Risk, Market Risk, Liquidity Risk
assessment of Risk Profile, Governance, Profitability where the calculations use statistical models and financial
and Capital. During 2023, BNI has reported individual models developed by BNI by considering historical data
Bank Soundness Levels for the Semester II 2022 and and hypotheses.
Semester I 2023 reporting periods to the Regulator in
a timely manner. The results of stress testing carried out by BNI throughout
2. Individual Risk Profile which includes managing 8 2023 show that BNI’s capital is still able to absorb losses
(eight) types of risk including Credit, Market, Liquidity, that will arise and is able to maintain sufficient liquidity
Operational, Legal, Strategic, Compliance and Reputation with rapid anticipation in terms of asset and liability
Risk. During 2023, BNI has reported the results of the management as well as the readiness of policies to support
individual Risk Profile self-assessment for the reporting funding plans. Apart from that, BNI has also established
period for Quarter IV 2022 and Quarters I, II, III 2023 to risk mitigation for possible losses that may arise.
the Regulator in a timely manner.
3. BNI Risk Management Implementation and Monitoring ACTION PLANS (RECOVERY PLANS)
Report to the Ministry of State-Owned Enterprises
(BUMN) in order to fulfill Minister of BUMN Regulations The Recovery Plan is a plan to overcome (prevent, recover
No. PER-2/MBU/03/2023 concerning Guidelines for and repair) financial problems that may occur at Systemic
Governance and Significant Corporate Activities of State- Banks.The preparation of the Recovery Plan is a fulfillment
Owned Enterprises. During 2023, BNI has submitted the of OJK Regulation Number 14/POJK.03/2017 dated April 4,
BNI Risk Management Implementation and Monitoring 2017 concerning Action Plans (Recovery Plan) for Systemic
Report for the reporting period for Quarters II and III Banks, which is intended to overcome early financial
2023 in a timely manner. problems that may occur in systemic Banks through a
4. Risk Weighted Asset Calculation Report (RWA) Credit “bail in” mechanism. “So it is hoped that these financial
Risk, Market Risk and Operational Risk. problems will not trigger a systemic impact on the national
5. Liquidity Coverage Ratio (LCR) and Net Stable Funding financial system.
Ratio (NSFR) Calculation Report.
6. Report on Obligations to Fulfill Leverage Ratio BNI as a Systemic Bank is obliged to prepare a Recovery
7. Interest Rate Risk in Banking Book (IRRBB) Report Plan to the FSA every year on a regular basis at least 1
8. Action Plan Document (Recovery Plan) (one) time in 1 (one) year and submit an updated Action
9. Resolution Plan Document (Resolution Plan) Plan (Recovery Plan) to the FSA no later than the end of
November.
SIMULATION OF WORST CONDITIONS
AND STRESS TESTING The Action Plan Update Document (Recovery Plan) is
formed from several components, including:
Stress testing is one of the risk management tools used 1. Executive summary.
by BNI to evaluate the impact of a severe but plausible 2. General description explaining the condition of banks
scenario on the Bank’s financial condition. BNI carries out and business groups along with strategic analysis of the
stress testing periodically as a basis for consideration for materiality level of business entities, business lines and
decisions and directions of the board of directors and board distribution networks.
of commissioners or in making Bank decisions as well as 3. Scenario analysis which contains an analysis of the
in compliance with applicable regulatory provisions both impact of changes in the Bank’s conditions based on
in Indonesia and regulatory provisions at each Foreign several critical scenarios, namely idiosyncratic, market-
Office (KLN). Apart from being a basis for decision making wide and combination.
and compliance with regulations, stress testing also aims
to estimate the magnitude of losses that will arise as well
as the resilience of the Bank’s capital in absorbing these
losses, and identify steps that must be taken to mitigate
risks and maintain the resilience of the Bank’s capital. In
terms of liquidity, the stress test functions to estimate the
adequacy of the Bank’s liquid assets to fulfill obligations,
both contractual and behavioral.
464 From Local to Global
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Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
4. Recovery Options contain recovery indicators which are divided into three phases, namely Early Warning, Recovery
and Corrective as well as a number of recovery options for four risk dimensions, namely Capital, Liquidity, Profitability
and Asset Quality.
5. Disclosure and Governance, in the Governance section the organization and decision-making authority are regulated
as well as work and escalation mechanisms for handling emergencies for each crisis phase.
The Action Plan Document (Recovery Plan) prepared by BNI for 2023/2024 is an update to the Action Plan Document
(Recovery Plan) for 2022/2023 and has been submitted to the FSA.
RESOLUTION PLAN
The Resolution Plan is a handling or resolution plan by the Deposit Insurance Corporation (LPS) when the Bank is
declared a failed bank, contained in the Resolution Plan document which is reviewed periodically every 2 (two) years.The
preparation of the Resolution Plan is a fulfillment of the Deposit Insurance Corporation Regulation no. 1 of 2021 concerning
Resolution Plans for Commercial Banks. The Resolution Plan is a commitment of the Bank, controlling shareholders and/
or other parties to realize an effective Bank resolution to reduce systemic disruption to financial system stability and
minimize the use of public funds (APBN) in Bank resolutions.
The preparation of the BNI Resolution Plan has the following objectives:
1. Ensure that BNI has a plan to overcome problems when the Bank is declared a Failed Bank.
2. Ensure that BNI has determined resolution options as a choice of actions to be taken to respond to the systemic
disruption to financial system stability that is being experienced.
3. Ensure that BNI has mechanisms related to implementation, evaluation and testing (stress testing) as well as updating
resolution plans.
The Resolution Plan contains information about the Bank that is in line with the Action Plan, complete with analysis of
resolution options and potential obstacles to implementing resolution options, as well as communication strategies prior
to handling Bank solvency problems by the resolution authority.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 465
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Risk Exposure
Disclosure
1. Disclosure of Credit Quality of Assets
a. Bank Only
December 31, 2023
Gross Carrying Amount Allowances for
Impairment Losses
Past Due Receivables Past Undue Receivables (d+e)
a b c
1 Loan 14,964,404 672,948,129 46,925,323
2 Securities 534,114 136,539,243 312,637
Administrative Account
3 658,178 137,203,457 -
Transactions
4 Total 16,156,696 946,690,829 47,237,960
b. Bank Consolidated with Subsidiaries
December 31, 2023
Gross Carrying Amount Allowances for
Impairment Losses
Past Due Receivables Past Undue Receivables (d+e)
a b c
1 Loan 15,009,228 680,077,402 47,158,131
2 Securities 534,114 138,678,793 312,691
Administrative Account
3 658,178 139,514,699 -
Transactions
4 Total 16,201,520 958,270,894 47,470,822
466 From Local to Global
Page 467
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
CKPN Allowances for Impairment
Net Value
Losses
(a+b+c)
Stage 2 and Stage 3 Stage 1 (IRB Approach)
d e f g
42,867,551 4,057,772 640,987,211
242,790 69,847 136,760,719
- - 137,861,635
43,110,341 4,127,619 915,609,565
(in million rupiah)
December 31, 2023
CKPN Allowances for Impairment
Net Value
Losses
(a+b+c)
Stage 2 and Stage 3 Stage 1 (IRB Approach)
d e f g
43,041,274 4,116,857 647,928,499
242,790 69,901 138,900,216
- - 140,172,877
43,284,064 4,186,758 927,001,592
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 467
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
2. Disclosure of Changes in Loan and Past Due Securities
a. Bank Only
(in million rupiah)
December 31, 2023
a
1 Past Due Loan and Securities on last reporting period 9,412,878
2 Past Due Loan and Securities since last reporting period 5,029,325
3 Past Undue Loan and Securities that return to receivables 1,903,449
4 Write-Off Value 14,390,337
5 Other Movements -
6 Past Due Loan and Securities on last reporting period (1+2-3-4+5) (1,851,583)
b. Bank Consolidated with Subsidiaries
(in million rupiah)
December 31, 2023
a
1 Past Due Loan and Securities on last reporting period 9,412,878
2 Past Due Loan and Securities since last reporting period 5,074,148
3 Past Undue Loan and Securities that return to receivables 10,515,359
4 Write-Off Value 14,390,337
5 Other Movements -
6 Past Due Loan and Securities on last reporting period (1+2-3-4+5) (10,418,670)
468 From Local to Global
Page 469
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
3. Additional Disclosures regarding Credit Quality of Assets
Qualitative
Description Definition
“Past Due Receivables” refers to the Past Due Receivables Portfolio Category as stated in Appendix A of
Past Due Receivables
OJK Circular Letter No. SEOJK 24/SEOJK.03/2021.
“Impaired Receivables” are receivables that have decreased in value, namely to stage 2 (unfavorable
Impaired Receivables
assets) and to stage 3 (unfavorable assets).
Past Due Receivables (more
than 90 days) that are not
Past Due Receivables but categorized in billing stage 1.
considered to have impaired
value
As a form of Commitment to the convergence of International Financial Reporting Standards (IFRS), the
Financial Accounting Standards Board of the Indonesian Accountants Association (DSAK IAI) ratified
PSAK 71 concerning Financial Assets. PSAK 71 was ratified by adopting IFRS 9 that contains the concept
of calculating future loan losses (ECL). The model development process at BNI has been carried out by
the model development team, and validated by external and internal validators. The ECL determination
was classified for each segment with the aim of classifying debtors who have similar characteristics, so
that a more accurate Probability of Default (PD) projection used in the ECL calculation could be obtained.
The model used in establishing Bank CKPN included:
• The transition matrix model as a modeling method that uses changes in the quality of productive
assets over a certain period as its basis.
Statistical approaches and
• The Bayesian Scalar Model as a PD calculation model for assets that have an internal rating.
methods used by the Bank in
establishing CKPN • The Vasicek model was applied for segmentation that relies on external ratings in the modeling
process.
The CKPN calculation for assets classified as Amortized Cost were calculated using different forward
looking horizons based to each risk level (staging), namely for the next 12 months in stage 1
(performing), plus over the life of the bill (lifetime) for stage 2 (under performing), and stage 3 (non
performing). The different stages are determined by the presence of any significant increase in loan risk
(SICR), and also debtor staging is determined based on a combination of:
• Internal Rating
• External Rating
• History of Restructuring
• Interest Determination
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 469
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Quantitative
a. Disclosure of Net Receivables by Region
i. Bank Only
December 31, 2023
No. Portfolio Category Net Receivables by Region
Sulawesi,
Jawa
Sumatera and Bali & Nusa Jakarta Office
(Excl. Jakarta
Kalimantan Tenggara and & Banten Overseas
and Banten)
Papua
a b c d e f g
1 Government Receivables - - 10,345 226,326,889 27,678,094
2 Public Sector Entities Receivables 11,434,375 1,308,638 20,806,057 70,021,961 227,344
Multilateral Development Banks and
3 - - - - -
International Institutions Receivables
4 Bank Receivables 670,248 354,096 628,267 45,942,961 15,913,201
Receivables in the form of Covered
5 - - - - -
Bond
Securities Companies and Other
6 Financial Services Institutions 8,191 38,478 155,214 23,088,299 -
Receivables
Receivables in the form of Securities/
7 Subordinated Receivables, Equity - - - 110,096 -
and Other Capital Instruments
Loans Secured by Residential
8 14,549,071 13,393,179 23,613,009 9,934,487 422
Property
Loans Secured by Commercial Real
9 2,128,545 1,034,211 4,109,018 741,266 125
Estat
Loan by Land Acquisition, Land
10 27,607 63,461 28,442 562 -
Processing and Construction
11 Loan by Employee or Pensioner 26,323 16,728 57,339 31,595 1,479
Micro Business, Small Business, and
12 27,780,613 26,511,455 45,361,621 43,066,803 1,965
Retail Portfolio Receivables
13 Corporate Receivables 81,406,864 36,104,775 71,854,405 160,245,553 27,723,485
14 Past Due Receivables 714,242 605,627 2,026,043 1,136,865 292,803
15 Other Assets 3,212,305 2,508,589 4,591,192 44,899,812 606,977
Total 141,958,384 81,939,237 173,240,952 625,547,149 72,445,895
470 From Local to Global
Page 471
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2022
Net Receivables by Region
Sulawesi,
Jawa (Excl.
Sumatera and Bali & Nusa Jakarta & Overseas
Total Jakarta and Total
Kalimantan Tenggara and Banten Office
Banten)
Papua
h i j k l m n
254,015,328
103,798,375
-
63,508,773
-
23,290,182
110,096
61,490,168
8,013,165
120,072
133,463
142,722,456
377,335,082
4,775,579
55,818,874
1,095,131,617
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 471
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
ii. Bank Consolidated with Subsidiaries
December 31, 2023
No. Portfolio Category Net Receivables by Region
Sulawesi,
Jawa
Sumatera and Bali & Nusa Jakarta Office
(Excl. Jakarta
Kalimantan Tenggara and & Banten Overseas
and Banten)
Papua
a b c d e f g
1 Government Receivables - - 10,345 233,518,357 27,678,094
2 Public Sector Entities Receivables 11,434,375 1,308,638 20,806,057 70,021,961 227,344
Multilateral Development Banks and
3 - - - - -
International Institutions Receivables
4 Bank Receivables 675,136 354,096 642,968 47,754,160 15,913,201
Receivables in the form of Covered
5 - - - - -
Bond
Securities Companies and Other
6 Financial Services Institutions 8,191 38,478 155,214 23,501,986 -
Receivables
Receivables in the form of Securities/
7 Subordinated Receivables, Equity - - - 11,948,126 -
and Other Capital Instruments
Loans Secured by Residential
8 14,571,774 13,393,179 23,697,158 10,442,135 422
Property
Loans Secured by Commercial Real
9 2,177,376 1,034,211 4,388,488 2,646,743 125
Estat
Loan by Land Acquisition, Land
10 27,607 63,461 28,442 562 -
Processing and Construction
11 Loan by Employee or Pensioner 26,323 16,728 57,339 31,595 1,479
Micro Business, Small Business, and
12 27,801,099 26,511,455 45,363,809 45,385,811 1,965
Retail Portfolio Receivables
13 Corporate Receivables 81,413,559 36,104,775 71,862,899 162,411,158 27,723,485
14 Past Due Receivables 714,254 605,627 2,028,568 1,142,702 292,803
15 Other Assets 3,212,305 2,508,589 4,591,192 46,566,905 606,977
Total 142,061,999 81,939,237 173,632,479 655,372,201 72,445,895
472 From Local to Global
Page 473
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2022
Net Receivables by Region
Sulawesi,
Jawa (Excl.
Sumatera and Bali & Nusa Jakarta & Overseas
Total Jakarta and Total
Kalimantan Tenggara and Banten Office
Banten)
Papua
h i j k l m n
261,206,796
103,798,376
-
65,339,561
-
23,703,869
11,948,126
62,104,668
10,246,943
120,072
133,464
145,064,139
379,515,876
4,783,954
57,485,968
1,125,451,811
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 473
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
b, Disclosure of Net Receivables by Economic Sector
i. Bank Only
Multilateral
Development
Government Public Sector Banks and
No, Economic Sectors
Receivables Entities Receivables International
Institutions
Receivables
a b c d e
December 31, 2023
1 Agriculture, Forestry, and Fisheries - 7,376,252 -
2 Mining and Extracting - 100,199 -
3 Processing Industry - 11,595,646 -
4 Electricity, Gas, Hot Water and Cold Water - 6,173,022 -
Water Managemen, Waste Management,Garbage
5 - - -
Management and Recycling
6 Construction - 21,215,205 -
Wholesale and Retail Trade; Car and Motorcycle Repair &
7 - 15,957,504 -
Maintenance
8 Transportation & Warehousing - 6,974,048 -
9 Accommodation and Restaurants - - -
10 Information and Communications - 5,788,061 -
11 Finance and Insurance Activities - 4,723,971 -
12 Real Estat - 212,449 -
13 Professional, Science, and Technical Activities - 49,827 -
Lease and Lease without Option Rights, Labor, Travel
14 - 1,361,101 -
Agents, and Other Business Support Activities
Government, Defense, and Mandatory Social Security
15 241,784,178 - -
Administration
16 Education - - -
17 Human Health and Social Activities - - -
18 Arts, Entertainment, and Recreation - - -
19 Other Services Activities - - -
Household Activities as Employer: Activities that produce
20 goods and services by households that are used to meet - - -
their own needs
International Agencies and Other Extra- International
21 - - -
Agencies Activities
22 Household - - -
23 Non-Business - 22,271,090 -
24 Others 12,231,150 - -
Total 254,015,328 103,798,376 -
474 From Local to Global
Page 475
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Receivables in the
Securities Companies form of Securities/
Receivables in the and Other Financial Subordinated Loans Secured by
Bank Receivables
form of Covered Bond Services Institutions Receivables, Equity Residential Property
Receivables and Other Capital
Instruments
f g h i j
- - - - 459,795
- - - - 59,726
- - - - 873,642
- - - - 15,014
- - - - 14,293
- - - - 265,005
- - - - 5,441,152
- - - - 368,961
- - - - 355,686
- - - - 31,178
63,508,772 - 23,290,181 - 3,340
- - - - 60,867
- - - - 36,915
- - - - 185,462
- - - - -
- - - - 11,854
- - - - 82,517
- - - - 15,622
- - - - 34,739
- - - - 3,968
- - - - 1,340
- - - - 47,258,235
- - - - 5,910,859
- - - 110,096 -
63,508,772 - 23,290,181 110,096 61,490,167
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 475
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2023 Management Company Management Discussion and Business Support
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Loan by Land
Loans Secured by
Acquisition, Land Loan by Employee
No. Economic Sectors Commercial Real
Processing and or Pensioner
Estat
Construction
a b k l m
December 31, 2023
1 Agriculture, Forestry, and Fisheries 474,918 - -
2 Mining and Extracting 7,320 - -
3 Processing Industry 428,838 - -
Electricity, Gas, Hot Water
4 10,233 - -
and Cold Water
Water Managemen, Waste Management,Garbage
5 6,782 - -
Management and Recycling
6 Construction 59,930 120,072 -
Wholesale and Retail Trade; Car and Motorcycle Repair &
7 3,061,873 - -
Maintenance
8 Transportation & Warehousing 103,806 - -
9 Accommodation and Restaurants 302,712 - -
10 Information and Communications 6,762 - -
11 Finance and Insurance Activities 2,305 - -
12 Real Estat 86,766 - -
13 Professional, Science, and Technical Activities 12,195 - -
Lease and Lease without Option Rights, Labor,
14 56,862 - -
Travel Agents, and Other Business Support Activities
Government, Defense, and Mandatory Social Security
15 - - -
Administration
16 Education 20,777 - -
Human Health and Social
17 46,246 - -
Activities
18 Arts, Entertainment, and Recreation 10,345 - -
19 Other Services Activities 57,486 - -
Household Activities as Employer: Activities that
20 produce goods and services by households that are 1,172 - -
used to meet their own needs
International Agencies and Other Extra- International
21 - - -
Agencies Activities
22 Household 2,995,767 - 123,257
23 Non-Business 260,073 - 10,206
24 Others - - -
Total 8,013,166 120,072 133,463
476 From Local to Global
Page 477
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Micro Business, Small
Business, and Retail Portfolio Corporate Receivables Past Due Receivables Other Assets
Receivables
n o p q
9,979,521 36,798,792 377,207 -
307,933 43,354,460 141,670 -
5,214,469 104,061,940 981,175 -
130,844 23,539,606 10,757 -
125,869 294,393 1,850 -
1,722,999 23,358,786 267,411 -
39,535,503 35,810,836 1,116,159 -
2,278,343 15,680,211 175,585 -
3,142,590 11,399,981 265,742 -
282,047 15,194,783 4,453 -
57,742 6,638,112 1,448 -
921,962 16,802,043 143,754 -
210,032 529,486 11,345 -
1,571,470 4,925,845 111,685 -
5,255 1,252 - -
199,327 416,132 1,149 -
652,663 1,803,901 9,299 -
164,121 150,064 661 -
350,959 157,746 404 -
17,768 1,502 252 -
10,023 2,822 103 -
20,158,582 9,794 653,498 -
55,682,436 36,402,594 499,974 -
- - - 55,818,874
142,722,456 377,335,082 4,775,579 55,818,874
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 477
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Multilateral
Development
Government Public Sector Banks and
No. Economic Sectors
Receivables Entities Receivables International
Institutions
Receivables
a b c d e
December 31, 2022
1 Agriculture, Forestry, and Fisheries
2 Mining and Extracting
3 Processing Industry
4 Electricity, Gas, Hot Water and Cold Water
Water Managemen, Waste Management,Garbage
5
Management and Recycling
6 Construction
Wholesale and Retail Trade; Car and Motorcycle Repair &
7
Maintenance
8 Transportation & Warehousing
9 Accommodation and Restaurants
10 Information and Communications
11 Finance and Insurance Activities
12 Real Estat
13 Professional, Science, and Technical Activities
Lease and Lease without Option Rights, Labor,
14
Travel Agents, and Other Business Support Activities
Government, Defense, and Mandatory Social Security
15
Administration
16 Education
Human Health and Social
17
Activities
18 Arts, Entertainment, and Recreation
19 Other Services Activities
Household Activities as Employer: Activities that produce
20 goods and services by households that are used to meet
their own needs
International Agencies and Other Extra- International
21
Agencies Activities
22 Household
23 Non-Business
24 Others
Total
478 From Local to Global
Page 479
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Receivables in the
Securities Companies form of Securities/
Receivables in the and Other Financial Subordinated Loans Secured by
Bank Receivables
form of Covered Bond Services Institutions Receivables, Equity Residential Property
Receivables and Other Capital
Instruments
f g h i j
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 479
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Loan by Land
Loans Secured by
Acquisition, Land Loan by Employee
No. Economic Sectors Commercial Real
Processing and or Pensioner
Estat
Construction
a b k l m
December 31, 2022
1 Agriculture, Forestry, and Fisheries
2 Mining and Extracting
3 Processing Industry
4 Electricity, Gas, Hot Water and Cold Water
Water Managemen, Waste Management,Garbage
5
Management and Recycling
6 Construction
Wholesale and Retail Trade; Car and Motorcycle Repair &
7
Maintenance
8 Transportation & Warehousing
9 Accommodation and Restaurants
10 Information and Communications
11 Finance and Insurance Activities
12 Real Estat
13 Professional, Science, and Technical Activities
Lease and Lease without Option Rights, Labor,
14
Travel Agents, and Other Business Support Activities
Government, Defense, and Mandatory Social Security
15
Administration
16 Education
Human Health and Social
17
Activities
18 Arts, Entertainment, and Recreation
19 Other Services Activities
Household Activities as Employer: Activities that
20 produce goods and services by households that are
used to meet their own needs
International Agencies and Other Extra- International
21
Agencies Activities
22 Household
23 Non-Business
24 Others
Total
480 From Local to Global
Page 481
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Micro Business, Small
Business, and Retail Portfolio Corporate Receivables Past Due Receivables Other Assets
Receivables
n o p q
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 481
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
ii. Bank Consolidated with Subsidiaries
Multilateral
Development
Government Public Sector Banks and
No, Economic Sectors
Receivables Entities Receivables International
Institutions
Receivables
a b c d e
December 31, 2023
1 Agriculture, Forestry, and Fisheries - 7,376,252 -
2 Mining and Extracting - 100,199 -
3 Processing Industry - 11,595,646 -
4 Electricity, Gas, Hot Water and Cold Water - 6,173,022 -
Water Managemen, Waste Management,Garbage
5 - - -
Management and Recycling
6 Construction - 21,215,205 -
Wholesale and Retail Trade; Car and Motorcycle Repair &
7 - 15,957,504 -
Maintenance
8 Transportation & Warehousing - 6,974,048 -
9 Accommodation and Restaurants - - -
10 Information and Communications - 5,788,061 -
11 Finance and Insurance Activities - 4,723,971 -
12 Real Estat - 212,449 -
13 Professional, Science, and Technical Activities - 49,827 -
Lease and Lease without Option Rights, Labor,
14 - 1,361,101 -
Travel Agents, and Other Business Support Activities
Government, Defense, and Mandatory Social Security
15 248,975,646 - -
Administration
16 Education - - -
17 Human Health and Social Activities - - -
18 Arts, Entertainment, and Recreation - - -
19 Other Services Activities - - -
Household Activities as Employer: Activities that produce
20 goods and services by households that are used to meet - - -
their own needs
International Agencies and Other Extra- International
21 - - -
Agencies Activities
22 Household - - -
23 Non-Business - 22,271,090 -
24 Others 12,231,150 - -
Total 261,206,796 103,798,376 -
482 From Local to Global
Page 483
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Receivables in the
Securities Companies form of Securities/
Receivables in the and Other Financial Subordinated Loans Secured by
Bank Receivables
form of Covered Bond Services Institutions Receivables, Equity Residential Property
Receivables and Other Capital
Instruments
f g h i j
- - - - 470,319
- - - - 85,051
- - - - 1,010,309
- - - - 15,014
- - - - 14,293
- - - - 303,249
- - - - 5,652,598
- - - - 377,193
- - - - 373,492
- - - - 44,071
65,339,560 - 23,703,868 - 3,340
- - - - 61,388
- - - - 96,686
- - - - 198,560
- - - - -
- - - - 11,854
- - - - 82,517
- - - - 15,622
- - - - 34,923
- - - - 3,968
- - - - 1,340
- - - - 47,286,126
- - - - 5,962,755
- - - 11,948,126 -
65,339,560 - 23,703,868 11,948,126 62,104,668
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 483
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Loan by Land
Loans Secured by
Acquisition, Land Loan by Employee
No. Economic Sectors Commercial Real
Processing and or Pensioner
Estat
Construction
a b k l m
December 31, 2023
1 Agriculture, Forestry, and Fisheries 507,542 - -
2 Mining and Extracting 11,657 - -
3 Processing Industry 1,260,758 - -
4 Electricity, Gas, Hot Water and Cold Water 10,233 - -
Water Managemen, Waste Management,Garbage
5 7,349 - -
Management and Recycling
6 Construction 94,248 120,072 -
Wholesale and Retail Trade; Car and Motorcycle Repair &
7 3,664,638 - -
Maintenance
8 Transportation & Warehousing 108,905 - -
9 Accommodation and Restaurants 574,359 - -
10 Information and Communications 153,566 - -
11 Finance and Insurance Activities 6,746 - -
12 Real Estat 133,837 - -
13 Professional, Science, and Technical Activities 22,610 - -
Lease and Lease without Option Rights, Labor,
14 92,623 - -
Travel Agents, and Other Business Support Activities
Government, Defense, and Mandatory Social Security
15 - - -
Administration
16 Education 23,456 - -
Human Health and Social
17 46,389 - -
Activities
18 Arts, Entertainment, and Recreation 10,345 - -
19 Other Services Activities 63,750 - -
Household Activities as Employer: Activities that produce
20 goods and services by households that are used to meet 1,222 - -
their own needs
International Agencies and Other Extra- International
21 - - -
Agencies Activities
22 Household 2,997,790 - 123,257
23 Non-Business 454,919 - 10,206
24 Others - - -
Total 10,246,943 120,072 133,463
484 From Local to Global
Page 485
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Micro Business, Small
Business, and Retail Portfolio Corporate Receivables Past Due Receivables Other Assets
Receivables
n o p q
9,979,541 36,798,792 377,207 -
307,938 43,354,460 141,668 -
5,247,115 104,430,469 981,175 -
130,851 23,539,606 10,757 -
125,869 294,393 1,850 -
1,725,482 23,409,060 272,635 -
40,321,588 36,324,301 1,116,665 -
2,307,414 16,090,511 175,585 -
3,147,729 11,402,046 265,742 -
283,511 15,211,300 4,453 -
57,742 6,638,112 1,448 -
922,764 16,952,922 146,182 -
211,405 873,970 11,345 -
1,571,555 5,096,224 111,685 -
5,255 1,252 - -
199,327 416,132 1,149 -
652,663 1,803,901 9,299 -
164,121 150,064 661 -
352,982 158,474 404 -
17,768 1,502 263 -
10,023 2,822 103 -
20,171,182 9,794 653,705 -
57,150,315 36,402,594 499,974 -
- 153,176 - 57,485,967
145,064,140 379,515,877 4,783,955 57,485,967
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 485
Page 486
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Multilateral
Development
Government Public Sector Banks and
No. Economic Sectors
Receivables Entities Receivables International
Institutions
Receivables
a b c d e
December 31, 2022
1 Agriculture, Forestry, and Fisheries
2 Mining and Extracting
3 Processing Industry
4 Electricity, Gas, Hot Water and Cold Water
Water Managemen, Waste Management,Garbage
5
Management and Recycling
6 Construction
Wholesale and Retail Trade; Car and Motorcycle Repair &
7
Maintenance
8 Transportation & Warehousing
9 Accommodation and Restaurants
10 Information and Communications
11 Finance and Insurance Activities
12 Real Estat
13 Professional, Science, and Technical Activities
Lease and Lease without Option Rights, Labor,
14
Travel Agents, and Other Business Support Activities
Government, Defense, and Mandatory Social Security
15
Administration
16 Education
17 Human Health and Social Activities
18 Arts, Entertainment, and Recreation
19 Other Services Activities
Household Activities as Employer: Activities that produce
20 goods and services by households that are used to meet
their own needs
International Agencies and Other Extra- International
21
Agencies Activities
22 Household
23 Non-Business
24 Others
Total
486 From Local to Global
Page 487
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Receivables in the
Securities Companies form of Securities/
Receivables in the and Other Financial Subordinated Loans Secured by
Bank Receivables
form of Covered Bond Services Institutions Receivables, Equity Residential Property
Receivables and Other Capital
Instruments
f g h i j
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 487
Page 488
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Loan by Land
Loans Secured by
Acquisition, Land Loan by Employee
No. Economic Sectors Commercial Real
Processing and or Pensioner
Estat
Construction
a b k l m
December 31, 2022
1 Agriculture, Forestry, and Fisheries
2 Mining and Extracting
3 Processing Industry
4 Electricity, Gas, Hot Water and Cold Water
Water Managemen, Waste Management,Garbage
5
Management and Recycling
6 Construction
Wholesale and Retail Trade; Car and Motorcycle Repair &
7
Maintenance
8 Transportation & Warehousing
9 Accommodation and Restaurants
10 Information and Communications
11 Finance and Insurance Activities
12 Real Estat
13 Professional, Science, and Technical Activities
Lease and Lease without Option Rights, Labor,
14
Travel Agents, and Other Business Support Activities
Government, Defense, and Mandatory Social Security
15
Administration
16 Education
17 Human Health and Social Activities
18 Arts, Entertainment, and Recreation
19 Other Services Activities
Household Activities as Employer: Activities that
20 produce goods and services by households that are
used to meet their own needs
International Agencies and Other Extra- International
21
Agencies Activities
22 Household
23 Non-Business
24 Others
Total
488 From Local to Global
Page 489
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Micro Business, Small
Business, and Retail Portfolio Corporate Receivables Past Due Receivables Other Assets
Receivables
n o p q
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 489
Page 490
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
c. Disclosure of Net Receivables by Remaining Contract Term
i. Bank Only
December 31, 2023
No. Portfolio Category Net Receivables by Remaining Contract Term
< 1 year > 1 year until 3 years
a b c d
1 Government Receivables 72,513,655 37,058,346
2 Public Sector Entities Receivables 46,055,892 11,657,090
Multilateral Development Banks and International
3 - -
Institutions Receivables
4 Bank Receivables 43,718,664 6,557,927
5 Receivables in the form of Covered Bond - -
Securities Companies and Other Financial
6 586,571 10,883,127
Services Institutions Receivables
Receivables in the form of Securities/
7 Subordinated Receivables, Equity and Other - -
Capital Instruments
8 Loans Secured by Residential Property 6,044,346 2,606,302
9 Loans Secured by Commercial Real Estat 1,239,494 1,664,589
Loan by Land Acquisition, Land Processing and
10 113,002 4,979
Construction
11 Loan by Employee or Pensioner 4,573 8,704
Micro Business, Small Business, and Retail
12 34,531,251 34,511,177
Portfolio Receivables
13 Corporate Receivables 145,498,314 44,055,207
14 Past Due Receivables 1,848,325 803,594
15 Other Assets - -
Total 352,154,087 149,811,042
490 From Local to Global
Page 491
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Receivables by Remaining Contract Term
> 3 years until 5 years > 5 years Non-Contractual Total
e f g h
26,501,624 51,439,414 66,502,289 254,015,328
11,053,797 34,733,734 297,863 103,798,376
- - - -
1,649,606 1,570,296 10,012,279 63,508,772
- - - -
7,501,429 4,319,055 - 23,290,182
- - 110,096 110,096
5,774,177 47,065,343 - 61,490,168
2,074,955 3,034,128 - 8,013,166
2,091 - - 120,072
10,776 109,411 - 133,464
33,575,028 38,437,218 1,667,782 142,722,456
85,604,840 98,932,643 3,244,077 377,335,081
844,994 1,278,666 - 4,775,579
- - 55,818,874 55,818,874
174,593,317 280,919,908 137,653,260 1,095,131,612
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 491
Page 492
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
December 31, 2022
No. Portfolio Category Net Receivables by Remaining Contract Term
< 1 year > 1 year until 3 years
a b i j
1 Government Receivables
2 Public Sector Entities Receivables
Multilateral Development Banks and International
3
Institutions Receivables
4 Bank Receivables
5 Receivables in the form of Covered Bond
Securities Companies and Other Financial
6
Services Institutions Receivables
Receivables in the form of Securities/
7 Subordinated Receivables, Equity and Other
Capital Instruments
8 Loans Secured by Residential Property
9 Loans Secured by Commercial Real Estat
Loan by Land Acquisition, Land Processing and
10
Construction
11 Loan by Employee or Pensioner
Micro Business, Small Business, and Retail
12
Portfolio Receivables
13 Corporate Receivables
14 Past Due Receivables
15 Other Assets
Total
492 From Local to Global
Page 493
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2022
Net Receivables by Remaining Contract Term
> 3 years until 5 years > 5 years Non-Contractual Total
k l m n
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 493
Page 494
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
ii. Bank Consolidated with Subsidiaries
December 31, 2023
No. Portfolio Category Net Receivables by Remaining Contract Term
< 1 year > 1 year until 3 years
a b c d
1 Government Receivables 78,341,048 37,325,510
2 Public Sector Entities Receivables 46,055,892 11,657,090
Multilateral Development Banks and International
3 - -
Institutions Receivables
4 Bank Receivables 44,438,990 6,677,116
5 Receivables in the form of Covered Bond - -
Securities Companies and Other Financial
6 786,446 10,957,899
Services Institutions Receivables
Receivables in the form of Securities/
7 Subordinated Receivables, Equity and Other - -
Capital Instruments
8 Loans Secured by Residential Property 6,469,011 2,679,476
9 Loans Secured by Commercial Real Estat 2,101,668 1,880,297
Loan by Land Acquisition, Land Processing and
10 113,002 4,979
Construction
11 Loan by Employee or Pensioner 4,573 8,704
Micro Business, Small Business, and Retail
12 35,294,359 34,589,143
Portfolio Receivables
13 Corporate Receivables 146,984,456 44,354,061
14 Past Due Receivables 1,849,597 805,165
15 Other Assets - -
Total 362,439,042 150,939,440
494 From Local to Global
Page 495
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Receivables by Remaining Contract Term
> 3 years until 5 years > 5 years Non-Contractual Total
e f g h
26,517,007 51,503,524 67,519,706 261,206,795
11,053,797 34,733,734 297,863 103,798,376
- - - -
1,658,143 1,575,184 10,990,128 65,339,561
- - - -
7,620,469 4,319,055 20,000 23,703,869
- - 11,948,126 11,948,126
5,782,708 47,121,578 51,896 62,104,669
2,182,194 3,887,929 194,854 10,246,942
2,091 - - 120,072
10,776 109,411 - 133,464
33,601,807 38,443,237 3,135,593 145,064,139
85,809,071 99,124,211 3,244,077 379,515,876
850,247 1,278,687 257 4,783,953
- - 57,485,967 57,485,967
175,088,310 282,096,550 154,888,467 1,125,451,809
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 495
Page 496
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
December 31, 2022
No. Portfolio Category Net Receivables by Remaining Contract Term
< 1 year > 1 year until 3 years
a b i j
1 Government Receivables
2 Public Sector Entities Receivables
Multilateral Development Banks and International
3
Institutions Receivables
4 Bank Receivables
5 Receivables in the form of Covered Bond
Securities Companies and Other Financial
6
Services Institutions Receivables
Receivables in the form of Securities/
7 Subordinated Receivables, Equity and Other
Capital Instruments
8 Loans Secured by Residential Property
9 Loans Secured by Commercial Real Estat
Loan by Land Acquisition, Land Processing and
10
Construction
11 Loan by Employee or Pensioner
Micro Business, Small Business, and Retail
12
Portfolio Receivables
13 Corporate Receivables
14 Past Due Receivables
15 Other Assets
Total
496 From Local to Global
Page 497
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2022
Net Receivables by Remaining Contract Term
> 3 years until 5 years > 5 years Non-Contractual Total
k l m n
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 497
Page 498
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
d. Disclosure of Receivables and Allowances by Region
i. Bank Only
December 31, 2023
No. Description Region
Sulawesi,
Sumatera Jawa (Excl.
Bali & Nusa Jakarta & Overseas
and Jakarta and Total
Tenggara Banten Office
Kalimantan Banten)
and Papua
a b c d e f g h
1 Receivables 152,538,579 86,471,551 194,780,409 696,792,977 77,872,524 1,208,456,040
2 Impaired Receivables
a. Not Yet Due 13,067,363 4,594,862 21,497,011 55,107,842 1,006,874 95,273,951
b. Telah jatuh tempo 2,644,302 1,610,719 6,387,370 6,549,388 145,596 17,337,375
Allowances for Impairment
3 854,709 703,768 1,111,441 1,958,359 216,294 4,844,485
Losses - Stage 1
Allowances for Impairment
4 2,218,980 1,245,444 3,117,054 12,938,960 161,415 19,681,853
Losses - Stage 2
Allowances for Impairment
5 2,664,202 1,110,346 10,703,386 10,044,501 351,331 24,873,766
Losses - Stage 3
6 Written-off Receivables 1,600,187 1,418,736 3,507,497 7,863,917 - 14,390,337
ii. Bank Consolidated with Subsidiaries
December 31, 2023
No. Description Region
Sulawesi,
Sumatera Jawa (Excl.
Bali & Nusa Jakarta & Overseas
and Jakarta and Total
Tenggara Banten Office
Kalimantan Banten)
and Papua
a b c d e f g h
1 Receivables 152,654,469 86,471,551 195,217,086 752,704,710 77,872,524 1,264,920,340
2 Impaired Receivables
a. Not Yet Due 13,097,598 4,594,862 21,524,877 55,424,706 1,006,874 95,648,918
b. Telah jatuh tempo 2,649,916 1,610,719 6,420,616 6,555,352 145,596 17,382,199
Allowances for Impairment
3 855,279 703,768 1,113,598 2,014,992 216,206 4,903,844
Losses - Stage 1
Allowances for Impairment
4 2,222,026 1,245,444 3,117,850 12,959,096 161,415 19,705,832
Losses - Stage 2
Allowances for Impairment
5 2,674,064 1,110,346 10,749,630 10,138,139 351,331 25,023,510
Losses - Stage 3
6 Written-off Receivables 1,600,187 1,418,736 3,507,497 7,863,917 - 14,390,337
498 From Local to Global
Page 499
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2022
Region
Sulawesi, Bali & Jawa (Excl.
Sumatera and Overseas
Nusa Tenggara Jakarta and Jakarta & Banten Total
Kalimantan Office
dan Papua Banten)
i j k l m n
December 31, 2022
Region
Sulawesi, Bali & Jawa (Excl.
Sumatera and Overseas
Nusa Tenggara Jakarta and Jakarta & Banten Total
Kalimantan Office
and Papua Banten)
i j k l m n
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 499
Page 500
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
e. Disclosure of Receivables and Allowances by Economic Sectors
i. Bank Only
No. Economic Sectors Receivables Impaired Receivables
Not Yet Due Already Due
a b c d e
December 31, 2023
1 Agriculture, Forestry, and Fisheries 57,070,903 3,011,633 882,221
2 Mining and Extracting 48,024,345 5,634,493 338,658
3 Processing Industry 148,262,813 22,571,237 3,940,861
4 Electricity, Gas, Hot Water and Cold Water 30,142,263 179,356 239,764
Water Managemen, Waste
5 Management,Garbage Management and 465,773 38,995 3,832
Recycling
6 Construction 56,940,007 16,806,227 1,232,125
Wholesale and Retail Trade; Car and
7 109,255,168 9,451,602 3,053,243
Motorcycle Repair & Maintenance
8 Transportation & Warehousing 30,225,587 13,608,120 726,376
9 Accommodation and Restaurants 16,876,371 2,983,186 946,221
10 Information and Communications 21,315,320 168,719 10,840
11 Finance and Insurance Activities 99,097,600 289,702 119,574
12 Real Estat 21,365,107 8,927,007 645,641
Professional, Scientific and Technical
13 936,955 73,475 30,130
Activities
Lease and Lease without Option Rights,
Labor,
14 9,049,816 733,406 514,976
Travel Agents, and Other Business
Support Activities
Government, Defense, and Mandatory
15 243,898,629 2,961 -
Social Security Administration
16 Education 729,253 236,101 2,282
Human Health and Social
17 2,848,780 45,644 21,709
Activities
18 Arts, Entertainment, and Recreation 345,747 102,982 962
19 Other Services Activities 605,905 2,625 588
20 Household Activity as Employer 25,677 4,131 773
International Agencies and Other Extra-
21 14,763 852 150
International Agencies Activities
22 Household 72,567,384 1,989,113 1,572,759
23 Non-Business 169,423,031 8,408,248 1,444,712
24 Others 68,968,842 4,135 1,608,978
Total 1,208,456,040 95,273,951 17,337,375
500 From Local to Global
Page 501
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Allowances for Impairment Allowances for Impairment Allowances for Impairment
Written-off Receivables
Losses - Stage 1 Losses - Stage 2 Losses - Stage 3
f g h i
449,964 440,427 813,157 806,999
142,487 1,006,557 212,434 899,913
558,481 1,839,861 14,411,305 2,426,581
93,194 18,635 245,206 36,692
3,086 12,283 1,982 3,376
131,639 7,243,670 1,078,258 1,402,258
600,553 1,947,119 2,290,152 4,088,154
91,621 2,585,878 1,312,792 256,130
188,619 617,318 751,479 584,788
31,245 37,186 6,386 110,564
142,590 30,813 118,126 -
82,386 2,349,874 525,596 347,324
7,151 11,703 21,447 16,546
39,754 156,776 481,714 338,876
666,046 642 - -
2,812 76,138 1,133 9,630
22,152 8,287 12,410 1,697
1,767 4,507 302 825
6,069 495 184 181,492
317 559 521 -
102 137 47 341
622,554 440,248 1,037,920 2,182
959,884 852,739 733,245 2,875,971
12 - 817,969 -
4,844,485 19,681,853 24,873,766 14,390,337
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 501
Page 502
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
No. Economic Sectors Receivables Impaired Receivables
Not Yet Due Already Due
a b c d e
December 31, 2022
1 Agriculture, Forestry, and Fisheries
2 Mining and Extracting
3 Processing Industry
4 Electricity, Gas, Hot Water and Cold Water
Water Managemen, Waste
5 Management,Garbage Management and
Recycling
6 Construction
Wholesale and Retail Trade; Car and
7
Motorcycle Repair & Maintenance
8 Transportation & Warehousing
9 Accommodation and Restaurants
10 Information and Communications
11 Finance and Insurance Activities
12 Real Estat
Professional, Scientific and Technical
13
Activities
Lease and Lease without Option Rights,
Labor,
14
Travel Agents, and Other Business
Support Activities
Government, Defense, and Mandatory
15
Social Security Administration
16 Education
Human Health and Social
17
Activities
18 Arts, Entertainment, and Recreation
19 Other Services Activities
20 Household Activity as Employer
International Agencies and Other Extra-
21
International Agencies Activities
22 Household
23 Non-Business
24 Others
Total
502 From Local to Global
Page 503
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Allowances for Impairment Allowances for Impairment Allowances for Impairment
Written-off Receivables
Losses - Stage 1 Losses - Stage 2 Losses - Stage 3
f g h i
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 503
Page 504
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
ii. Bank Consolidated with Subsidiaries
Economic Sectors Receivables Impaired Receivables
No.
Not Yet Due Already Due
a b c d e
December 31, 2023
1 Agriculture, Forestry, and Fisheries 57,114,249 3,022,083 882,221
2 Mining and Extracting 48,058,561 5,641,327 340,920
3 Processing Industry 149,628,359 22,607,701 3,940,861
4 Electricity, Gas, Hot Water and Cold Water 30,142,270 179,356 239,764
Water Managemen, Waste
5 Management,Garbage Management and 466,336 38,995 3,832
Recycling
6 Construction 57,083,914 16,823,657 1,237,823
Wholesale and Retail Trade; Car and
7 111,394,399 9,473,290 3,068,431
Motorcycle Repair & Maintenance
8 Transportation & Warehousing 30,676,744 13,608,458 726,376
9 Accommodation and Restaurants 17,201,183 3,248,215 946,221
10 Information and Communications 21,491,964 168,719 10,840
11 Finance and Insurance Activities 100,403,352 295,938 126,023
12 Real Estat 21,584,989 8,934,663 660,168
13 Aktivitas Profesi, Ilmiah, dan Teknis 1,351,854 73,475 30,130
Lease and Lease without Option Rights,
Labor,
14 9,268,296 733,406 514,976
Travel Agents, and Other Business
Support Activities
Government, Defense, and Mandatory
15 251,022,434 2,961 -
Social Security Administration
16 Education 731,910 236,101 2,282
Human Health and Social
17 2,848,923 45,644 21,709
Activities
18 Arts, Entertainment, and Recreation 345,747 102,982 962
19 Other Services Activities 615,082 2,647 588
Aktivitas Household sebagai Pemberi
20 25,773 4,176 773
Kerja
International Agencies and Other Extra-
21 14,763 852 150
International Agencies Activities
22 Household 72,612,638 1,991,888 1,573,458
23 Non-Business 211,151,967 8,408,248 1,444,712
24 Others 69,684,634 4,135 1,608,978
Total 1,264,920,341 95,648,917 17,382,198
504 From Local to Global
Page 505
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Allowances for Impairment Allowances for Impairment Allowances for Impairment
Written-off Receivables
Losses - Stage 1 Losses - Stage 2 Losses - Stage 3
f g h i
450,141 440,924 813,157 806,999
142,567 1,007,471 216,321 899,913
566,856 1,842,092 14,411,305 2,426,581
93,194 18,635 245,206 36,692
3,092 12,283 1,982 3,376
132,129 7,244,639 1,091,491 1,402,258
609,435 1,947,776 2,315,452 4,088,154
95,846 2,586,239 1,312,792 256,130
189,091 633,167 754,715 584,788
32,045 37,186 6,386 110,564
145,402 33,185 124,575 -
83,335 2,349,874 544,833 347,324
8,474 11,703 21,447 16,546
41,320 156,776 481,714 338,876
666,046 642 - -
2,821 76,138 1,133 9,630
22,154 8,287 12,410 1,697
1,767 4,507 302 825
6,133 500 184 181,492
318 559 555 -
102 137 47 341
622,740 440,373 1,040,494 2,182
988,549 852,739 809,038 2,875,971
288 - 817,969 -
4,903,845 19,705,832 25,023,508 14,390,339
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 505
Page 506
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Economic Sectors Receivables Impaired Receivables
No.
Not Yet Due Already Due
a b c d e
December 31, 2022
1 Agriculture, Forestry, and Fisheries
2 Mining and Extracting
3 Processing Industry
4 Electricity, Gas, Hot Water and Cold Water
Water Managemen, Waste
5 Management,Garbage Management and
Recycling
6 Construction
Wholesale and Retail Trade; Car and
7
Motorcycle Repair & Maintenance
8 Transportation & Warehousing
9 Accommodation and Restaurants
10 Information and Communications
11 Finance and Insurance Activities
12 Real Estat
13 Aktivitas Profesi, Ilmiah, dan Teknis
Lease and Lease without Option Rights,
Labor,
14
Travel Agents, and Other Business
Support Activities
Government, Defense, and Mandatory
15
Social Security Administration
16 Education
Human Health and Social
17
Activities
18 Arts, Entertainment, and Recreation
19 Other Services Activities
Aktivitas Household sebagai Pemberi
20
Kerja
International Agencies and Other Extra-
21
International Agencies Activities
22 Household
23 Non-Business
24 Others
Total
506 From Local to Global
Page 507
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Allowances for Impairment Allowances for Impairment Allowances for Impairment
Written-off Receivables
Losses - Stage 1 Losses - Stage 2 Losses - Stage 3
f g h i
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 507
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
f. Disclosure of Receivables by Past Due Days
i. Bank Only
December 31, 2023
Receivables by Past Due Days
No. Exposure Type
> 90 days until > 120 days until
> 180 days Total
120 days 180 days
a b c d e f
1 Loan included in Past Due Receivables 1,098,798 2,586,571 8,374,097 12,059,467
Securities included in Past Due
2 291,324 - 242,790 534,114
Receivables
Total 1,390,122 2,586,571 8,616,887 12,593,581
ii. Bank Consolidated with Subsidiaries
December 31, 2023
Receivables by Past Due Days
No. Exposure Type
> 90 days until > 120 days until
> 180 days Total
120 days 180 days
a b c d e f
1 Loan included in Past Due Receivables 1,100,803 2,586,925 8,443,151 12,130,878
Securities included in Past Due
2 291,324 - 242,790 534,114
Receivables
Total 1,392,127 2,586,925 8,685,941 12,664,992
508 From Local to Global
Page 509
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2022
Receivables by Past Due Days
> 90 days until 120 days > 120 days until 180 days > 180 days Total
g h i j
- - - -
(in million rupiah)
December 31, 2022
Receivables by Past Due Days
> 90 days until 120 days > 120 days until 180 days > 180 days Total
g h i j
- - - -
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 509
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
4. Additional Disclosures regarding Treatment of Troubled Assets
Qualitative
Description Definition
Non-performing assets are Assets categorized as “Substandard”, “Doubtful”, or “Loss”.
Aset non-performing
in accordance with POJK No.40/POJK.03/2019 concerning Asset Quality of Commercial Banks.
Asset Restructuring is an improvement effort made by the Bank in lending activities against
Restructured Assets counterparties who have difficulty in fulfilling their liabilities. Criteria for Assets that are Restructured
Assets are counterparties experiencing difficulties in the payment of principal and/or interest.
Quantitative
a. Disclosure of Performing and Non-Performing Assets
i. Bank Only
December 31, 2023
Non Performing
(Quality of KL, D, M)
Performing
(Quality of L and DPLK)
Impaired Receivables
Allowances for Allowances for
Gross Carrying Gross Carrying
Impairment Impairment
Amount Amount
Losses Losses
a b c d
1 Securities 136,539,243 69,847 242,790 242,790
2 Loan
a. Corporate 355,686,385 18,405,688 8,902,332 6,910,989
b. Retail 132,264,517 3,109,795 3,074,004 1,767,686
3 Administrative Account Transactions 137,212,701 - 614,871 -
ii. Bank Consolidated with Subsidiaries
December 31, 2023
Non Performing
(Quality of KL, D, M)
Performing
(Quality of L and DPLK)
Impaired Receivables
Allowances for Allowances for
Gross Carrying Gross Carrying
Impairment Impairment
Amount Amount
Losses Losses
a b c d
1 Securities 138,678,793 69,901 242,790 242,790
2 Loan
a. Corporate 358,959,283 18,446,535 8,902,332 6,910,989
b. Retail 136,092,442 3,238,719 3,145,415 1,830,723
3 Administrative Account Transactions 139,514,699 - 614,871 -
510 From Local to Global
Page 511
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Non Performing
(Quality of KL, D, M)
Not Impaired Receivables
Have Arrears > 90 Days Have Arrears ≤ 90 Days
Allowances for Impairment Allowances for Impairment
Gross Carrying Amount Gross Carrying Amount
Losses Losses
e f g h
291,324 - - -
- - - -
- - - -
34,063 - - -
(in million rupiah)
December 31, 2023
Non Performing
(Quality KL, D, M)
Not Impaired Receivables
Have Arrears > 90 Days Have Arrears ≤ 90 Days
Allowances for Impairment Allowances for Impairment
Gross Carrying Amount Gross Carrying Amount
Losses Losses
e f g h
291,324 - - -
- - - -
- - - -
34,063 - - -
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 511
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
b. Disclosure of Performing and Non-Performing Restructuring Assets
i. Bank Only
December 31, 2023
Performing Non Performing
(Quality of L and DPLK) (Quality of KL, D, M)
Gross Carrying Allowances for Gross Carrying Allowances for
Amount Impairment Losses Amount Impairment Losses
a b c d
1 Securities - - - -
2 Loan
a. Corporate 28,513,277 11,647,412 3,143,127 2,416,958
b. Retail 3,980,017 795,652 402,006 221,157
Administrative Account
3 1,761,901 - 29,989 -
Transactions
ii. Bank Consolidated with Subsidiaries
December 31, 2023
Performing Non Performing
(Quality of L and DPLK) (Quality of KL, D, M)
Gross Carrying Allowances for Gross Carrying Allowances for
Amount Impairment Losses Amount Impairment Losses
a b c d
1 Securities - - - -
2 Loan
a. Corporate 28,717,153 11,668,972 3,143,127 2,416,958
b. Retail 4,098,066 812,786 456,855 268,260
Administrative Account
3 1,761,901 - 29,989 -
Transactions
512 From Local to Global
Page 513
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Stage 1 Stage 2 Stage 3
Allowances for Allowances for Allowances for
Gross Carrying Gross Carrying Gross Carrying
Impairment Impairment Impairment
Amount Amount Amount
Losses Losses Losses
e f g h i j
- - - - - -
- - 21,088,137 5,772,452 10,568,267 8,291,918
28,082 2,785 3,843,272 722,390 510,669 291,634
1,377,912 - 277,965 - 136,013 -
(in million rupiah)
December 31, 2023
Stage 1 Stage 2 Stage 3
Allowances for Allowances for Allowances for
Gross Carrying Gross Carrying Gross Carrying
Impairment Impairment Impairment
Amount Amount Amount
Losses Losses Losses
e f g h i j
- - - - - -
- - 21,266,553 5,791,389 10,593,728 8,294,540
58,587 3,107 3,918,732 733,579 577,602 346,983
1,377,912 - 277,965 - 136,013 -
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 513
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
5. Quantitative Disclosures related to MRK Techniques
Qualitative
Description Defenition
Collateral valuation for quality 1 and 2 debtors is carried out at least once in a span of 24 months,
Collateral revaluation policy
while for quality 3, 4, and 5 loans, the minimum is done once in a span of 12 months.
Quantitative
a. Bank Only
December 31, 2023
Not Guaranteed Receivables Guaranteed Receivables Using
Using MRK Techniques MRK Techniques
a b
1 Loan 600,541,253 40,445,958
2 Securities 136,760,719 -
3 Total 737,301,973 40,445,958
4 Past Due Loan and Securities 4,407,875 299,335
b. Bank Consolidated with Subsidiaries
December 31, 2023
Not Guaranteed Receivables Guaranteed Receivables Using
Using MRK Techniques MRK Techniques
a b
1 Loan 605,991,776 41,936,723
2 Securities 138,900,216 -
3 Total 744,891,992 41,936,723
4 Past Due Loan and Securities 4,479,286 299,335
Disclosure on Use of External Credit Ratings
Description Defenition
Rating Agencies Used The rating agencies used refers to the provisions for rating agencies in SEOJK 24/SEOJK.03/2021
Portfolio Categories use rankings for Government Receivables, Public Sector Entities Receivables,
Portfolio Categories that Use Rankings Bank Receivables, Securities Companies and Other Financial Services Institutions Receivables,
and Corporate Receivables.
514 From Local to Global
Page 515
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Guaranteed Receivables by
Guaranteed Receivables by Receivables Secured by Credit
Guarantee, Security and/or Credit
Collateral Derivatives
Insurance
c d e
2,516,114 37,929,844
- -
2,516,114 37,929,844
4,950 294,384
(in million rupiah)
December 31, 2023
Guaranteed Receivables by
Guaranteed Receivables by Receivables Secured by Credit
Guarantee, Security and/or Credit
Collateral Derivatives
Insurance
c d e
4,006,879 37,929,844
- -
4,006,879 37,929,844
4,950 294,384
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 515
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
6. Disclosure of Credit Risk Exposure and Impact of MRK Techniques
a. Bank Only
December 31, 2023
Net Receivables Before Implementation of FKK and MRK
No Portfolio Category Techniques
Statement of Financial
TRA
Position
a b
1 Government Receivables 253,338,412 4,805,516
2 Public Sector Entities Receivables 90,444,040 31,979,208
Multilateral Development Banks and International Institutions
3 - -
Receivables
Bank Receivables 52,115,272 21,452,169
4 Securities Companies and Other Financial Services Institutions
23,216,157 272,892
Receivables1)
5 Receivables in the form of Covered Bond - -
Corporate Receivables - General Corporate Exposure 2)
336,294,770 38,241,056
Securities Companies and Other Financial Services Institutions
6 - -
Receivables3)
Special Financing Exposure4) 26,208,843 -
Receivables in the form of Securities/Subordinated Receivables,
7 110,096 -
Equity and Other Capital Instruments
8 Micro Business, Small Business, and Retail Portfolio Receivables 132,975,236 39,382,870
Loans Secured by Real Estate - -
Loans Secured by Residential Property which the payments Are
61,390,678 887,782
Not Materially Dependent on Property Cash Flow
Loans Secured by Residential Property which the payments Are
10,684 271
Materially Dependent on Property Cash Flow
9
Loans Secured by Commercial Real Estat yang Pembayarannya
Tidak Bergantung 7,966,863 170,641
Secara Material pada Arus Cash Properti
Loans Secured by Commercial Real Estat yang Pembayarannya
Bergantung Secara 29,240 -
Material pada Arus Cash Properti
10 Loan by Land Acquisition, Land Processing and Construction 118,967 11,054
11 Past Due Receivables 4,709,761 658,178
12 Other Assets 55,818,874 -
Total 1,044,881,356 137,861,637
Footnotes:
1)
Represents receivables within the scope of Portfolio Category Securities Companies and Other Financial Services Institutions Receivables as set out in Appendix A. of this
Circular Letter of the Financial Services Authority.
2)
Represents receivables that fall within the scope of Portfolio Category Corporate Receivables - general corporate exposures as per Appendix A of this Circular Letter of the
Financial Services Authority (excluding number 3) and number 4)). (excluding number 3) and number 4)).
3)
Represents Securities Companies and Other Financial Services Institutions Receivables that are not classified in the Portfolio Category as number 1).
4)
Represents receivables that fall within the scope of the Corporate Receivables - Special Financing Exposure category (with and without rating) as per Appendix A. of this
Circular Letter of the Financial Services Authority.
516 From Local to Global
Page 517
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Receivables After Implementation of FKK and MRK
RWA and Average Risk Weight
Techniques
Statement of Financial Average Risk Weight
TRA RWA
Position (e/(c+d))
c d e f
244,160,319 673,067 193,283 0.1%
83,260,625 13,286,942 40,048,397 41.5%
- - - 0.0%
50,919,301 11,393,500 22,257,210 35.7%
23,207,939 74,024 16,446,014 70.6%
- - - 0.0%
334,774,613 14,694,776 329,150,114 94.2%
- - - 0.0%
26,208,843 - 21,821,979 83.3%
110,096 - 275,241 250.0%
104,492,411 9,657,240 92,039,097 80.6%
- - - 0.0%
60,765,992 88,778 33,542,806 55.1%
7,541 27 7,718 102.0%
5,660,611 17,064 4,725,787 83.2%
15,244 - 19,505 128.0%
117,233 1,105 118,686 100.3%
4,410,427 65,818 3,330,900 74.4%
55,818,874 - 45,117,072 80.8%
994,063,532 49,952,341 609,160,541 58.3%
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 517
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
b. Bank Consolidated with Subsidiaries
December 31, 2023
Net Receivables Before Implementation of FKK and MRK
No Portfolio Category Techniques
Statement of Financial
TRA
Position
a b
1 Government Receivables 260,533,729 4,805,516
2 Public Sector Entities Receivables 90,444,040 31,979,208
Multilateral Development Banks and International Institutions
3 - -
Receivables
Bank Receivables 53,937,260 21,474,169
4
Securities Companies and Other Financial Services Institutions
23,609,844 322,892
Receivables1)
5 Receivables in the form of Covered Bond - -
Corporate Receivables - General Corporate Exposure2) 338,247,821 38,715,850
6
Securities Companies and Other Financial Services Institutions
- -
Receivables3)
Special Financing Exposure4) 26,233,838 -
Receivables in the form of Securities/Subordinated Receivables,
7 11,948,126 -
Equity and Other Capital Instruments
Micro Business, Small Business, and Retail Portfolio
8 135,122,516 39,868,877
Receivables
Loans Secured by Real Estate - -
Loans Secured by Residential Property which the payments Are
61,953,282 1,017,522
Not Materially Dependent on Property Cash Flow
9
Loans Secured by Residential Property which the payments Are
10,684 271
Materially Dependent on Property Cash Flow
Loans Secured by Commercial Property which the payments
10,005,793 661,163
Are Not Materially Dependent on Property Cash Flow
Loans Secured by Commercial Property which the payments
29,240 -
Are Materially Dependent on Property Cash Flow
10 Loan by Land Acquisition, Land Processing and Construction 118,967 11,054
11 Past Due Receivables 4,718,136 658,178
12 Other Assets 57,485,967 -
Total 1,074,399,243 139,514,700
Footnotes:
1)
Represents receivables included in the Securities Companies and Other Financial Services Institutions Receivables Portfolio Category as in Appendix A of this FSA Circular
Letter.
2)
Represents receivables that are included in the scope of Corporate Receivables - general corporate exposure Portfolio Category as in Appendix A of this FSA Circular Letter
(excluding numbers 3) and numbers 4)).
3)
Represents Securities Companies and Other Financial Services Institutions Receivables that are not included in the Portfolio Category as in number 1).
4)
Represents receivables that fall within the scope of the Corporate Receivables - Special Financing Exposure category (with and without ratings) as in Appendix A of this
FSA Circular Letter.=
518 From Local to Global
Page 519
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Receivables After Implementation of FKK and MRK
RWA and Average Risk Weight
Techniques
Statement of Financial Average Risk Weight
TRA RWA
Position (e/(c+d))
c d e f
251,355,636 673,067 193,283 0.1%
83,260,625 13,286,942 40,048,397 41.5%
- - - 0.0%
52,736,827 11,402,300 23,159,429 36.1%
23,598,626 94,024 16,610,288 70.1%
- - - 0.0%
335,620,078 14,897,524 330,054,079 94.2%
- - - 0.0%
26,233,838 - 21,846,974 83.3%
11,948,126 - 29,870,316 250.0%
106,621,529 9,851,642 94,151,593 80.8%
- - - 0.0%
61,306,819 140,674 33,815,668 55.0%
7,541 27 7,718 102.0%
7,363,765 211,910 6,185,349 81.6%
15,244 - 19,505 128.0%
117,233 1,105 118,686 100.3%
4,418,801 65,818 3,338,991 74.5%
57,485,967 - 46,744,262 81.3%
1,022,090,655 50,625,033 646,164,538 60.2%
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 519
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
7. Exposure Disclosure Based on Asset Class and Risk Weight
a. Bank Only
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Portfolio Category
0% 10% 15% 20% 25% 30% 35% 37,5% 40% 45%
Portfolio Category 0% 20%
Government
1 244,555,385 105,898
Receivables
Portfolio Category 20%
Public Sector Entities
2 28,470,124
Receivables
Portfolio Category 0% 20% 30%
Multilateral
Development Banks
3 and International - - -
Institutions
Receivables
Portfolio Category 20% 30% 40%
4 Bank Receivables 31,498,745 5,010,397 2,798,912
Securities
Companies and
Other Financial 1,707,105 41,574 -
Services Institutions
Receivables1)
Portfolio Category 10% 15% 20% 25% 35%
Receivables in the
5 form of Covered - - - - -
Bond
Portfolio Category 20%
Corporate
Receivables -
6 11,338,021
General Corporate
Exposure2)
Securities
Companies and
Other Financial -
Services Institutions
Receivables3)
Special Financing
-
Exposure4)
Portfolio Category
Receivables in the
form of Securities/
Subordinated
7
Receivables, Equity
and Other Capital
Instruments
Portfolio Category 45%
520 From Local to Global
Page 521
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
50% 52,5% 60% 65% 67,5% 70% 75% 80% 85% 90% 100% 105% 110%
50% 100%
- 172,104
50% 100%
67,656,174 211,237
50% 100%
- -
50% 75% 100%
17,248,886 4,182,108 1,573,753
232,430 21,300,854 -
50% 100%
- -
50% 65%5) 75% 80% 85% 100%
12,114,960 - 7,954,735 - 31,284,056 283,899,309
- - - - -
- - 22,681,901 3,028,554
100%
-
75% 85% 100%
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 521
Page 522
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
(in million rupiah)
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Portfolio Category Net Receivables After FKK
and MRK Techniques
112,5% 130% 150% 250% 400% 1250% Others
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
1 Government Receivables - - 244,833,386
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
Public Sector Entities
2 210,032 - 96,547,567
Receivables
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
Multilateral Development
3 Banks and International - - -
Institutions Receivables
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
4 Bank Receivables - - 62,312,801
Securities Companies and
Other Financial Services - - 23,281,964
Institutions Receivables1)
Net Receivables After FKK
Portfolio Category Others
and MRK Techniques
Receivables in the form of
5 - -
Covered Bond
Net Receivables After FKK
Portfolio Category 130% 150% Others
and MRK Techniques
Corporate Receivables
6 - General Corporate - 2,878,309 - 349,469,389
Exposure2)
Securities Companies and
Other Financial Services - - -
Institutions Receivables3)
Special Financing
498,388 - - 26,208,843
Exposure4)
Net Receivables After FKK
Portfolio Category 150% 250% 400%5) Others
and MRK Techniques
Receivables in the form of
Securities/Subordinated
7 - 110,096 - - 110,096
Receivables, Equity and
Other Capital Instruments
Net Receivables After FKK
Portfolio Category Others
and MRK Techniques
Micro Business, Small
8 Business, and Retail - 114,149,651
Portfolio Receivables
522 From Local to Global
Page 523
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 523
Page 524
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Portfolio Category
0% 10% 15% 20% 25% 30% 35% 37,5% 40% 45%
Micro Business,
Small Business,
8 5,764,279
and Retail Portfolio
Receivables
Portfolio Category 0% 20% 25% 30% 35% 40% 45%
Loans Secured by
9
Real Estate
Loans Secured by
Residential Property
which the payments
- 4,003,814 1,907,390 10,752,380 9,641,302
Are Not Materially
Dependent on
Property Cash Flow
without loan sharing
approach5)
using a loan
sharing approach
(guaranteed)5)
using a loan
sharing approach
(guaranteed)5)
Loans Secured by
Residential Property
which the payments
1,074 11 249
Are Materially
Dependent on
Property Cash Flow
Loans Secured by
Commercial Property
which the payments
- - -
Are Materially
Dependent on
Property Cash Flow
without loan sharing
approach5)
using a loan
sharing approach
(guaranteed)5)
using a loan
sharing approach
(guaranteed)5)
Loans Secured by
Commercial Property
which the payments
Are Materially
Dependent on
Property Cash Flow
Loan by Land
Acquisition, Land
Processing and
Construction
Portfolio Category
11 Past Due Receivables
Portfolio Category 0% 20%
12 Other Assets 11,123,072 -
524 From Local to Global
Page 525
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
50% 52,5% 60% 65% 67,5% 70% 75% 80% 85% 90% 100% 105% 110%
97,099,542 810,870 10,474,960
50% 60% 65%5) 70% 75% 85% 90% 100% 105% 110%
3,236,051 - 5,323,339 23,770,484 2,220,009 -
93 161 5,544
- 699,391 - 3,869,928 1,108,356 -
5,573 740 3,142
118,339
50% 100%
2,745,436 1,394,504
100%
43,853,261
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 525
Page 526
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
(in million rupiah)
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Portfolio Category Net Receivables After FKK
and MRK Techniques
112,5% 130% 150% 250% 400% 1250% Others
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
Loans Secured by Real
9 - -
Estate
Loans Secured by
Residential Property which
the payments Are Not - - 60,854,770
Materially Dependent on
Property Cash Flow
without loan sharing
- -
approach5)
using a loan sharing
- -
approach (guaranteed)5)
using a loan sharing
- -
approach (guaranteed)5)
Loans Secured by
Residential Property which
the payments Are Materially 435 - 7,568
Dependent on Property
Cash Flow
Loans Secured by
Commercial Property which
the payments Are Materially - - 5,677,675
Dependent on Property
Cash Flow
without loan sharing
- -
approach5)
using a loan sharing
- -
approach (guaranteed)5)
using a loan sharing
- -
approach (guaranteed)5)
Loans Secured by
Commercial Property which
the payments Are Materially 5,788 - 15,244
Dependent on Property
Cash Flow
Loan by Land Acquisition,
Land Processing and - - 118,339
Construction
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
11 Past Due Receivables 336,304 - 4,476,244
Net Receivables After FKK
Portfolio Category 150% 1250%5) Others
and MRK Techniques
12 Other Assets 842,541 - - 55,818,874
Footnotes:
1)
Represents receivables included in the Portfolio Category Securities Companies and Other Financial Services Institutions Receivables as in Appendix A of this Financial
Services Authority Circular Letter.
2)
Represents receivables included in the scope of Portfolio Category Corporate Receivables - general corporate exposure as in Appendix A of this Financial Services Authority
Circular Letter (excluding number 3) and number 4).
3)
Represents Securities Companies and Other Financial Services Institutions Receivables which are not included in the Portfolio Category as in number 1).
4)
Represents receivables that fall within the scope of the Corporate Receivables - Special Financing Exposure category (with and without ratings) as in Appendix A of this
Financial Services Authority Circular Letter.
5)
Not applicable in accordance with this Financial Services Authority Circular Letter.
526 From Local to Global
Page 527
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Billings
No Risk Weight Net Billings
Net Receivables Statement of (After imposition
TRA (before FKK FKK Average
Financial Position of FKK and MRK
imposition)
Techniques)
1 <40% 339,604,040 25,435,799 42.92% 350,514,992
2 40%-70% 113,824,763 41,796,085 33.11% 127,600,539
3 75% 146,495,792 33,738,507 34.89% 158,177,812
4 80% 22,681,901 - 0.00% 22,681,901
5 85% 35,195,375 2,279,168 10.00% 35,423,291
6 90%-100% 331,376,890 34,561,930 39.02% 344,726,760
7 105-130% 507,047 271 10.00% 507,074
8 150% 4,267,631 49,874 11.59% 4,273,410
9 250% 110,096 - 0.00% 110,096
10 400% - - 0.00% -
11 1250% - - 0.00% -
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 527
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
b. Bank Consolidated with Subsidiaries
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Portfolio Category
0% 10% 15% 20% 25% 30% 35% 37,5% 40% 45%
Portfolio Category 0% 20%
Government
1 251,750,702 105,898
Receivables
Portfolio Category 20%
Public Sector Entities
2 28,470,124
Receivables
Portfolio Category 0% 20% 30%
Multilateral
Development Banks
3 and International - - -
Institutions
Receivables
Portfolio Category 20% 30% 40%
4 Bank Receivables 32,331,772 5,010,397 2,825,657
Securities
Companies and
Other Financial 1,707,107 41,574 410,686
Services Institutions
Receivables1)
Portfolio Category 10% 15% 20% 25% 35%
Receivables in the
5 form of Covered - - - - -
Bond
Portfolio Category 20%
Corporate
Receivables -
6 11,466,202
General Corporate
Exposure2)
Securities
Companies and
Other Financial -
Services Institutions
Receivables3)
Special Financing
-
Exposure4)
Portfolio Category
Receivables in the
form of Securities/
Subordinated
7
Receivables, Equity
and Other Capital
Instruments
Portfolio Category 45%
Micro Business,
Small Business,
8 5,764,279
and Retail Portfolio
Receivables
528 From Local to Global
Page 529
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Report Period
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
50% 52,5% 60% 65% 67,5% 70% 75% 80% 85% 90% 100% 105% 110%
50% 100%
- 172,104
50% 100%
67,656,174 211,237
50% 100%
- -
50% 75% 100%
17,248,886 5,148,662 1,573,753
232,430 21,300,854 -
50% 100%
- -
50% 65%5) 75% 80% 85% 100%
12,114,960 - 7,954,735 - 31,562,070 284,541,326
- - - - -
- - 22,681,901 3,053,549
100%
-
75% 85% 100%
97,928,787 835,621 11,944,484
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 529
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
(in million rupiah)
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Portfolio Category Net Receivables After FKK
and MRK Techniques
112,5% 130% 150% 250% 400% 1250% Others
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
1 Government Receivables - - 252,028,703
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
Public Sector Entities
2
Receivables
210,032 - 96,547,567
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
Multilateral Development
3 Banks and International - - -
Institutions Receivables
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
4 Bank Receivables - - 64,139,127
Securities Companies and
Other Financial Services - - 23,692,651
Institutions Receivables1)
Net Receivables After FKK
Portfolio Category Others
and MRK Techniques
Receivables in the form of
5 - -
Covered Bond
Net Receivables After FKK
Portfolio Category 130% 150% Others
and MRK Techniques
Corporate Receivables
6 - General Corporate - 2,878,309 - 350,517,602
Exposure2)
Securities Companies and
Other Financial Services - - -
Institutions Receivables3)
Special Financing
Exposure4)
498,388 - - 26,233,838
Net Receivables After FKK
Portfolio Category 150% 250% 400%5) Others
and MRK Techniques
Receivables in the form of
Securities/Subordinated
7
Receivables, Equity and
- 11,948,126 - - 11,948,126
Other Capital Instruments
Net Receivables After FKK
Portfolio Category Others
and MRK Techniques
Micro Business, Small
8 Business, and Retail - 116,473,172
Portfolio Receivables
530 From Local to Global
Page 531
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 531
Page 532
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Portfolio Category
0% 10% 15% 20% 25% 30% 35% 37,5% 40% 45%
Portfolio Category 0% 20% 25% 30% 35% 40%
Loans Secured by
9
Real Estate
Loans Secured by
Residential Property
which the payments
- 4,053,761 1,973,350 10,909,770 9,710,442
Are Not Materially
Dependent on
Property Cash Flow
without loan sharing
approach5)
using a loan
sharing approach
(guaranteed)5)
using a loan
sharing approach
(guaranteed)5)
Loans Secured by
Residential Property
which the payments
1,074 11 249
Are Materially
Dependent on
Property Cash Flow
Loans Secured by
Commercial Property
which the payments
- - -
Are Materially
Dependent on
Property Cash Flow
without loan sharing
approach5)
using a loan
sharing approach
(guaranteed)5)
using a loan
sharing approach
(guaranteed)5)
Loans Secured by
Commercial Property
which the payments
Are Materially
Dependent on
Property Cash Flow
Loan by Land
Acquisition, Land
Processing and
Construction
Portfolio Category
11 Past Due Receivables
Portfolio Category 0% 20%
12 Other Assets -
532 From Local to Global
Page 533
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
50% 52,5% 60% 65% 67,5% 70% 75% 80% 85% 90% 100% 105% 110%
50% 60% 65%5) 70% 75% 85% 90% 100% 105% 110%
3,255,675 - 5,550,100 23,774,001 2,220,395 -
93 161 5,544
- 1,276,796 - 3,963,792 2,335,088 -
5,573 740 3,142
118,339
50% 100%
2,746,002 1,402,312
100%
45,398,676
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 533
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
(in million rupiah)
December 31, 2023
Net Receivables After Taking into Account the Impact of Credit Risk Mitigation
Portfolio Category Net Receivables After FKK
and MRK Techniques
112,5% 130% 150% 250% 400% 1250% Others
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
Loans Secured by Real
9 - -
Estate
Loans Secured by
Residential Property which
the payments Are Not - - 61,447,494
Materially Dependent on
Property Cash Flow
without loan sharing
- -
approach5)
using a loan sharing
- -
approach (guaranteed)5)
using a loan sharing
- -
approach (guaranteed)5)
Loans Secured by
Residential Property which
the payments Are Materially 435 - 7,568
Dependent on Property
Cash Flow
Loans Secured by
Commercial Property which
the payments Are Materially - - 7,575,675
Dependent on Property
Cash Flow
without loan sharing
- -
approach5)
using a loan sharing
- -
approach (guaranteed)5)
using a loan sharing
- -
approach (guaranteed)5)
Loans Secured by
Commercial Property which
the payments Are Materially 5,788 - 15,244
Dependent on Property
Cash Flow
Loan by Land Acquisition,
Land Processing and - - 118,339
Construction
Net Receivables After FKK
Portfolio Category 150% Others
and MRK Techniques
11 Past Due Receivables 336,304 - 4,484,619
Net Receivables After FKK
Portfolio Category 150% 1250%5) Others
and MRK Techniques
12 Other Assets 897,057 - - 57,485,967
Footnotes:
1)
Represents receivables included in the Securities Companies and Other Financial Services Institutions Receivables Portfolio Category as in Appendix A of this FSA Circular
Letter.
2)
Represents receivables that are included in the scope of Corporate Receivables - general corporate exposure Portfolio Category as in Appendix A of this FSA Circular Letter
(excluding numbers 3) and numbers 4)).
3)
Represents Securities Companies and Other Financial Services Institutions Receivables that are not included in the Portfolio Category as in number 1).
4)
Represents receivables that fall within the scope of the Corporate Receivables - Special Financing Exposure category (with and without ratings) as in Appendix A of this FSA
Circular Letter.
5)
Not applicable in accordance with this FSA Circular Letter.
534 From Local to Global
Page 535
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
December 31, 2023
Net Billings
No Risk Weight Net Billings
Net Receivables Statement of (After imposition
TRA (before FKK FKK Average
Financial Position of FKK and MRK
imposition)
Techniques)
1 <40% 353,072,830 25,477,164 42,92% 356,997,636
2 40%-70% 116,742,392 41,998,475 33,15% 129,114,550
3 75% 178,341,315 33,750,397 34,89% 161,083,878
4 80% 22,681,901 - 0,00% 22,681,901
5 85% 38,933,231 2,941,929 16,92% 36,953,174
6 90%-100% 291,378,874 35,296,589 39,06% 303,017,844
7 105-130% 514,162 271 10,00% 507,074
8 150% 3,430,058 49,874 11,59% 3,430,868
9 250% - - 0,00% -
10 400% - - 0,00% -
11 1250% - - 0,00% -
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 535
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
7 . Leverage Ratio Disclosure
a. Bank Only
(in million rupiah)
No Item Individu
Total Assets on the balance sheet in the published financial report (gross value before
1 1,098,205,243
deducting CKPN)
Adjustments to the value of investments in banks, financial institutions, insurance
2 companies, and/or other entities based on financial accounting standards must be (17,111,006)
consolidated but are outside the scope of consolidation based on the FSA provisions.
Adjustments to the value of the underlying group of financial assets that have been
transferred in asset securitization that meets the sale and balance requirements as
3 -
regulated in FSA laws and regulations regarding the precautionary principle in Asset
Securitization Activities for Commercial Banks.
Adjustments to fiduciary assets that are recognized as balance sheet components
4 based on financial accounting standards but are excluded from the calculation of total -
exposure in the Leverage Ratio.
Adjustments for the value of regular purchases or sales of financial assets using the
5 -
trade date accounting method.
Adjustments to the value of cash pooling transactions that meet the requirements as
6 -
regulated in this FSA Regulation.
7 Adjustments to derivative transaction exposure value. -
8 Adjustments to derivative transaction exposure value. 15,112,702
Adjustments to Securities Financing Transaction (SFT) exposure value as an example of
9 1,012,886
a Reverse Repo transaction.
Adjustments to the Administrative Account Transaction (TRA) exposure value multiplied
10 50,250,259
by the Credit Conversion Factor (FKK).
Prudent valuation adjustment takes the form of a capital reduction factor and
11 (98,061,651)
Allowance for Impairment Losses (CKPN).
12 Others Adjustments. 7,257,614
13 Total exposure in Leverage Ratio calculation. 1,056,666,047
536 From Local to Global
Page 537
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Period
Item T T–1
(December 31, (September
2023) 30, 2023)
Asset Exposure in the Statement of Financial Position (Balance Sheet)
Asset exposure in the Statement of Financial Position (Balance Sheet) includes collateral
1 assets, but does not include derivative transaction exposure and SFT exposure. 1,063,260,140 996,942,889
*Gross value before deducting CKPN
The added value for derivative collateral handed over to counterparties and the provision of
2 such collateral resulted in a decrease in total asset exposure on the balance sheet due to the - -
application of the accounting standards.
(Reduction of receivables related to cash variation margin provided in derivative
3 - -
transactions)
4 (Adjustment for Marketable Securities received in SFT exposure recognized as an asset) (7,806,645) (6,653,592)
Allowance for Impairment Losses (CKPN) on these assets in accordance with applicable
5 (48,582,135) (50,003,890)
accounting standards.
(Assets that have taken into account a reducing factor for Core Capital (Tier 1) as intended in
6 the FSA Regulation that regulates Liabilities for providing minimum capital for commercial (24,387,806) (23,821,176)
banks.)
7 Total Asset exposure in the Statement of Financial Position (Finance) (Sum of row 1 to row 6) 982,483,554 916,464,231
Derivative Transaction Exposure
Replacement Cost (RC) value for all derivative transactions, whether there is a variation
8 margin that meets the requirements or there is an offsetting agreement that meets certain 14,787,644 13,676,489
requirements.
9 The additional value is the Potential Futures Exposures (PFE) for all derivative transactions. 325,058 159,209
(exception for exposure of derivative transactions completed through a central counterparty
10 - -
(CCP)).
11 Adjustments to the effective notional value of loan derivatives - -
(Adjustments in the effective notional value made by offsets and addon deductions for
12 - -
derivative loan sales transactions).
Total Derivative Transaction Exposure
13 15,112,702 13,835,698
(Sum of row 8 to row 12)
Securities Financing Transaction (SFT) Exposure
14 Gross SFT Value 8,819,532 7,378,100
15 (Net value between Cash liabilities and Cash claims) - -
Loan Risk due to counterparty failure related to SFT assets that refers to the Current
16 - -
Exposure calculation as regulated in Attachment I in this FSA Regulation.
17 Exposure as an SFT agent - -
Total SFT Exposure
18 8,819,532 7,378,100
(Sum of row 14 to row 17)
Transaction Administrative Account (TRA) Exposure
Value of all Commitment Liabilities or contingent Liabilities.
19 137,861,635 133,869,908
*Gross value before deducting CKPN
(Adjustment to the result of multiplying the Commitment Liabilities or Contingent Liabilities
20 (87,611,376) (85,400,663)
value and the Credit Conversion Factor (FKK) then deducting CKPN)
(Allowance for Impairment Losses (CKPN) for the TRA is in accordance with applicable
21 - -
accounting standards).
Total Administrative Account Transaction Exposure (TRA)
22 50,250,259 48,469,245
(Sum of row 19 to row 21)
Capital and Total Exposure
23 Core Capital (Tier 1) 130,937,557 124,838,032
24 Total exposure (Sum of rows 7, 13, 18, and 22) 1,056,666,047 986,147,274
Leverage Ratio
Leverage Ratio Value, including the impact of adjustments to temporary exceptions for
25 the placement of Current Accounts with Bank Indonesia in order to meet the minimum 12,39% 12,66%
mandatory Current Accounts (if any)
Leverage Ratio Value, excluding the impact of adjustments to temporary exceptions for
25a the placement of Current Accounts with Bank Indonesia in order to meet the minimum 12,39% 12,66%
mandatory Current Accounts (if any)
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 537
Page 538
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
(in million rupiah)
Period
Item T T–1
(December 31, (September
2023) 30, 2023)
26 Minimum Leverage Ratio Value 3% 3%
27 Buffer against the Leverage Ratio value N/A N/A
Disclosure of Average Values
The average value of the gross carrying value of SFT assets, after adjustments for sales
28 accounting transactions, which are calculated on a net basis with Cash liabilities in SFT and 4,409,766 3,689,050
Cash claims in SFT
The final value of the reporting quarter of the gross carrying value of SFT assets, after
29 adjustments for sales accounting transactions, which are calculated on a net basis with Cash 8,819,532 7,378,100
liabilities in SFT and Cash claims in SFT
Total Exposure, including the impact of adjustments to temporary exceptions for the
placement of Current Accounts with Bank Indonesia in order to fulfill the minimum
30 1,052,256,280 982,458,224
mandatory Current Accounts provisions (if any), including the average gross carrying value
of SFT assets as referred to in row 28
Total exposure, excluding the impact of adjustments to temporary exceptions for the
placement of Current Accounts with Bank Indonesia in order to comply with minimum
30a 1,052,256,280 982,458,224
mandatory Current Account requirements (if any), including the average gross carrying value
of SFT assets as referred to in row 28
Leverage Ratio Value, including the impact of adjustments to temporary exceptions for
the placement of Current Accounts with Bank Indonesia in order to fulfill the minimum
31 12,44% 12,71%
mandatory Current Accounts provisions (if any), including the average value of the gross
carrying value of SFT assets as referred to in row 28
The Leverage Ratio value, excludes the impact of adjustments to temporary exceptions
for the placement of Current Accounts with Bank Indonesia in order to fulfill the minimum
31a 12,44% 12,71%
mandatory Current Accounts provisions (if any), including the average value of the gross
carrying value of SFT assets as referred to in row 28
538 From Local to Global
Page 539
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
b. Bank Consolidated with Subsidiaries
(in million rupiah)
No Item consolidation
Total assets on the balance sheet in the published financial statements (gross value before
1 1,112,030,410
deducting CKPN)
Adjustments to the value of investments in banks, financial institutions, insurance companies,
2 and/or other entities based on financial accounting standards must be consolidated but are (394,267)
outside the scope of consolidation based on the FSA provisions.
Adjustments to the value of the underlying group of financial assets that have been
transferred in asset securitization that meets the sale and balance requirements as regulated
3 -
in FSA laws and regulations regarding the prudential principle in Asset Securitization Activities
for Commercial Banks.
Adjustments to temporary exceptions for current account placements with Bank Indonesia in
4 -
order to comply with minimum statutory reserve provisions (if any).
Adjustments to fiduciary assets that are recognized as balance sheet components based on
5 financial accounting standards but are excluded from the calculation of total exposure in the -
Leverage Ratio.
Adjustments to the value of regular purchases or sales of financial assets using the trade date
6 -
accounting method.
Adjustments to the value of cash pooling transactions that meet the requirements as regulated
7 -
in this FSA Regulation.
8 Adjustments to derivative transaction exposure value. 15,112,702
Adjustments to Securities Financing Transaction (SFT) exposure value as an example of a
9 10,961,472
Reverse Repo transaction.
Adjustments to the Administrative Account Transaction (TRA) exposure value, multiplied by
10 50,922,952
the Credit Conversion Factor (FKK).
Prudent valuation adjustments take the form of a capital reduction factor and Allowance for
11 (98,527,709)
Impairment Losses (CKPN).
12 Other adjustments. 22,746,873
13 Total exposure in Leverage Ratio calculations 1,112,852,433
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 539
Page 540
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
(in million rupiah)
Period
Item T T–1
(December 31, (30 September
2023) 2023)
Asset Exposure in the Statement of Financial Position (Balance Sheet)
Asset exposure in the Statement of Financial Position (Balance Sheet) includes collateral
1 assets, but does not include derivative transaction exposure and SFT exposure. 1,093,111,532 1,029,869,526
*Gross value before deducting CKPN
The added value for derivative collateral handed over to counterparties and the provision of
2 such collateral resulted in a decrease in total asset exposure on the balance sheet due to the - -
application of the accounting standards.
(Reduction of receivables related to cash variation margin provided in derivative
3 - -
transactions)
4 (Adjustment for securities received in SFT exposures recognized as assets) (7,806,645) (6,653,592)
Allowance for Impairment Losses (CKPN) on these assets in accordance with applicable
5 (48,815,164) (50,191,577)
accounting standards.
(Assets calculated as a reducing factor for Core Capital (tier 1) as intended in the FSA
6 (8,441,062) (8,655,272)
regulation that regulates the obligation to provide minimum capital for commercial banks.)
Total Asset exposure in the Statement of Financial Position (Finance)
7 1,028,048,661 964,369,085
(Sum of row 1 to row 6)
Derivative Transaction Exposure
Replacement Cost (RC) value for all derivative transactions, whether there is a variation
8 margin that meets the requirements, or there is an offsetting agreement that meets certain 14,787,644 13,676,489
requirements.
9 The additional value is the Potential Futures Exposures (PFE) for all derivative transactions. 325,058 159,209
(exception for exposure to derivative transactions completed through a central counterparty
10 - -
(CCP)).
11 Adjustments to the effective notional value of loan derivatives. - -
(Adjustments to the effective notional value are made by offsetting and subtracting add-ons
12 - -
for derivative loan sales transactions).
Total Derivative Transaction Exposure
13 15,112,702 13,835,698
(Sum of row 8 to row 12).
Securities Financing Transaction (SFT) Exposure
14 Gross SFT Value 18,768,118 11,793,085
15 (Net value between cash liabilities and cash receivables) - -
Loan Risk due to counterparty failure related to SFT assets that refers to the Current
16 - -
Exposure calculation as regulated in Attachment I to this FSA Regulation.
17 Exposure as an SFT agent - -
Total SFT Exposure
18 18,768,118 11,793,085
(Sum of row 14 to row 17)
Administrative Account (TRA) Transaction Exposure
The value of all commitment obligations or contingent liabilities.
19 139,514,699 135,416,689
*Gross value before deducting CKPN
(Adjustments to the result of multiplying the value of commitment obligations or contingent
20 (88,591,747) (86,322,710)
liabilities and the Credit Conversion Factor (FKK) then deducting CKPN)
(Allowance for Impairment Losses (CKPN) for the TRA is in accordance with applicable
21 - -
accounting standards).
Total Administrative Account Transaction Exposure (TRA)
22 50,922,952 49,093,979
(Sum of row 19 to row 21)
Capital and Total Exposure
23 Core Capital (Tier 1) 147,488,111 140,111,590
24 Total exposure (Sum of rows 7, 13, 18, and 22) 1,112,852,433 1,039,091,847
Leverage Ratio
540 From Local to Global
Page 541
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in million rupiah)
Period
Item T T–1
(December 31, (30 September
2023) 2023)
Leverage Ratio Value, including the impact of adjustments to temporary exceptions for
25 current account placements with Bank Indonesia in order to meet minimum statutory 13,25% 13,48%
reserves (if any)
Leverage Ratio Value, excluding the impact of adjustments to temporary exceptions for
25a current account placements with Bank Indonesia in order to meet minimum statutory 13,25% 13,48%
reserves (if any)
26 Minimum Leverage Ratio Value 3% 3%
27 Buffer against the Leverage Ratio value N/A N/A
Disclosure of Average Values
The average value of the gross carrying value of SFT assets, after adjustments for sales
28 accounting transactions that are calculated on a net basis with Cash liabilities in SFT and 9,384,059 5,896,542
Cash claims in SFT
The final value of the reporting quarter is the gross carrying value of SFT assets, after
29 adjustments for sales accounting transactions that are calculated on a net basis with Cash 18,768,118 11,793,085
liabilities in SFT and Cash claims in SFT
Total Exposure, including the impact of adjustments to temporary exceptions for the
placement of Current Accounts with Bank Indonesia in order to comply with minimum
30 1,103,468,374 1,033,195,304
mandatory Current Account requirements (if any), which includes the average gross
carrying value of SFT assets as referred to in row 28
Total exposure, excluding the impact of adjustments to temporary exceptions for the
placement of Current Accounts with Bank Indonesia in order to comply with minimum
30a 1,103,468,374 1,033,195,304
mandatory Current Account requirements (if any), which includes the average gross
carrying value of SFT assets as referred to in row 28
Leverage Ratio Value, including the impact of adjustments to temporary exceptions for
the placement of Current Accounts with Bank Indonesia in order to fulfill the minimum
31 13,37% 13,56%
mandatory Current Accounts provisions (if any), which included the average value of the
gross carrying value of SFT assets as referred to in row 28
The Leverage Ratio value, excluding the impact of adjustments to temporary exceptions
for the placement of Current Accounts with Bank Indonesia in order to fulfill the minimum
31a 13,37% 13,56%
mandatory Current Accounts provisions (if any), which includes the average value of the
gross carrying value of SFT assets as referred to in row 28
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 541
Page 542
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
8. Qualitative Disclosure Regarding Counterparty Credit Risk
Qualitative
Risk
The risk management and policies objectives related to loan risk due to counterparty failure (Counterparty Credit Risk/CCR)
management
include
objectives
1. Fulfilling regulatory requirements so that the Bank has policies, processes and systems to manage loan risk due to
and policies
counterparty failure/CCR, as implemented in accordance with the complexity of BNI exposures that give rise to CCR.
related to
2. Standardizing loan risk management due to counterparty/CCR failure including identification, measurement,
loan risk
management, approval and internal CCR reporting.
due to
counterparty
When carrying out Counterparty transactions, BNI must assess the creditworthiness of the Counterparty and take into
loan risk,
account the consequences of settlement and pre-settlement loan risks.
including:
Counterparty Credit Risk/CCR exposure calculated at BNI uses the precautionary principle and includes FX Forward
Derivative Transactions, FX Swap, Cross Currency Swap (CCS) and Interest Rate Swap (IRS). The method used to determine
operating limits for Counterparty Credit Exposures consists of limits for (i) Financial Institution (FI) debtors and (ii) Non-
Financial Institution (Non-FI) debtors.
1. Determination of Limits for Financial Institutions (FI)
Operational limits on Counterparty Credit Risk Exposure for FI debtor derivative transactions are carried out by
determining the Counterparty Limit (CL). CL is given to domestic and foreign banks, remittance agencies and other
domestic financial institutions that are guaranteed by the Government with correspondent status.
Analysis of granting or adding CL is carried out by the Business Unit and Risk Unit at the Head Office, however other
Business Units (such as Trade Finance or Treasury) and Overseas Branch Offices can submit input on granting or adding CL.
Determination of the Maximum Counterparty Limit:
a. The maximum limit for new and review CL facilities is generally set in the form of a Global Line that does not exceed
BNI’s Maximum Lending Limit (BMPK).
b. For overseas correspondents, the maximum limit for new CL facilities and reviews is determined by the correspondent
category based on:
1) Credit Rating, at least one of 3 (three) international institutions, namely S&P, Moody’s, Fitch; as well as
2) Country Risk, based on the International Country Risk Guide (ICRG).
Maximum CL Facility Matrix based on Credit Rating and Country Risk:
a. Category I correspondents when determining and reviewing CL use the Counterparty Limit Application Package (CLAP)
analysis, and the Global Line form. The CL amount is set at a maximum LLL at “very low”, “low”, “moderate” risk countries
The method
with a maximum of USD 10 million for “high” risk countries that do not exceed the LLL.
used to apply
b. Category II correspondence in CL determination and review using the CLAP analysis and the Global Line form. The CL
the operating
amount is set at a maximum LLL at “very low”, “low”, “moderate” risk countries with a maximum of USD 10 million for
limits defined
“high” risk countries that do not exceed the LLL.
on internal
c. Category III correspondence in CL determination and review using the CLAP analysis and the Global Line form. The
capital for
maximum CL amount is USD 10 million for “very low”, “low”, “moderate” risk countries that do not exceed the LLL. CL is
counterparty
not given for “high” risk countries
loan
exposures
An explanation of the correspondent categories is as follows:
and for CCP
Category I covers correspondents with a credit rating > BBB- to AAA
exposures;
Category II covers correspondents with a credit rating > CCC+ to BB+
Category III covers correspondents with a credit rating < CCC+ and/or correspondents that do not have a rating
2. Determination of Limits for Non-Financial Institutions (Non-FI)
Application of operating limits to Counterparty Credit Risk Exposure for Derivative transactions are carried out by
providing a Treasury Line to customers. Treasury lines are a facility provided to customers (debtors and non-debtors) as a
maximum limit for derivative transaction risk exposure in accordance with the provisions regulated by the Regulator.
The process for proposing a Treasury Line facility for each type of customer is as follows:
a. Debtor
The process of providing Treasury Line facilities to debtors is carried out in the same way as the process of providing loan
facilities.
1) If the debtor applies for a Treasury Line facility not at the same time as the loan facility, then the application process uses
the Treasury Line facility form.
2) If the debtor applies for a Treasury Line facility at the same time as the loan facility, then the Treasury Line application
process uses the Credit Application Tool (PAK).
Debtors can carry out derivative transactions with BNI without a Treasury Line facility as long as they submit collateral in
the form of a Marginal Deposit.
b. Non Debtor
1) Can directly carry out transactions with the BNI Treasury Unit without setting up a Treasury Line facility and must submit
collateral in the form of a Marginal Deposit of 1.2 x the Credit Conversion Factor (FKK) x the Transaction Notional.
2) Transactions are based on derivative transaction agreements.
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Qualitative
Policies related to guarantees/guarantees against Counterparty Credit Risk Exposure. Derivative transactions carried out at
BNI are classified as follows:
a. Debtor
1) The guarantee is adjusted to the guarantee provisions of the applicable Business Banking segment, namely:
• Full cover guarantee, decision authority rests with the Credit Committee according to authority on the basis of Total
Exposure
• Full cover guarantee in the form of a combination of cash, collateral and other assets.
2) Conditions for fulfilling collateral refer to requirements for fulfilling sufficient collateral for a Working Capital Loan
3) If there are other matters to consider, the amount of collateral can be determined based on risk analysis and business
potential to obtain approval from the Credit Committee.
For debtors without a Treasury Line, the collateral is in the form of a Marginal Deposit of 1.2 x FKK x the Transaction
Policies Notional.
related to
guarantees b. Non Debtor
and risk 1) Collateral in the form of a Marginal Deposit of 1.2 x FKK x the Transaction Notional and direct transactions with the BNI
mitigation Treasury Unit based on a Derivative Transaction Agreement
and 2) The collateral in point b.1) above is blocked and tied to a pledge accompanied by a power of attorney for disbursement
assessment on the transaction due date.
of
counterparty Risk mitigation and assessment related to Counterparty Credit Risk Exposure. Derivative transactions carried out at BNI are
risk, including carried out through Treasury Line Facility Monitoring and Treasury Line Facility Reviews
exposure a. Monitoring Treasury Line Facilities
towards CCP; • Debtor
Carried out by the Risk Management and Treasury unit.
• Non Debtor
Carried out by the Treasury unit by ensuring that the collateral is still blocked and pledged until the transaction matures.
b. Review of Treasury Line Facilities
1. Debtor
Carried out by the Business and Risk unit.
2. Non-Debtor
Carried out by the Treasury unit
Use of the Treasury Line facility is carried out by calculating the transaction Credit Conversion Factor (FKK). FKK is a
percentage that shows the amount of loan risk arising from Forex or Derivative transactions at a certain tenor. The FKK
table is reviewed periodically (every 6 months) by the Risk Management Unit and submitted to the relevant units.
Policies related to mitigating wrong-way risk exposure at BNI are carried out through:
1. Routine monitoring to identify early deviations in the movement of transaction indicators from original market
Policies
predictions, including the mark to market activities and stress tests to compare with the Budget Loss Limit,
related to
2. Applying Stress Tests based on scenarios of changes in Interest Rates and Exchange Rates periodically (every 6 months),
wrong-way
or incidentally to measure the level of risk/impact that may occur, and reporting to Management,
risk exposure;
3. If a certain tiering of the Budget Loss Limit has been exceeded, corrections and mitigation steps are taken in stages
using the Management Action Trigger (MAT) mechanism.
Impact on
the value
of collateral
When a loan rating downgrade occurs, a temporary freeze limit mechanism is used to carry out a more in-depth study on
required
the potential risks faced. Then, mitigation steps can be taken in the form of a top up of the collateral value.
to provide
for a loan
downgrade.
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9. Analysis of Credit Risk Net Receivables due to Counterparty Failure Based on the Used Approach
a b
No English Replacement Cost (RC) Potential Future Exposure (PFE)
1 SA-CCR (for derivatives) 10,562,603 232,184
Internal Model Method (for derivatives and
2
SFTs)
Simple Approach for credit risk mitigation (for
3
SFTs)
Comprehensive Approach for credit risk
4
mitigation (for SFTs)
5 VaR for SFTs
6 Total
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Practices Governance Responsibility Commitment Statements
(in million rupiah)
c d e f
Alpha used for regulatory
EEPE Net Receivables RWA
EAD calculations
1,4 15,112,702 9,173,124
9,173,124
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10. exposure based on portfolio and risk weighting based on standard approach
a b c
Risk Weight
0% 10% 20%
Portfolio Category
Sovereigns 180,380 - -
Non-central government public sector entities (PSEs) - - 122,108
Multilateral development banks (MDBs) - - -
Banks - - 1,257,452
Securities firms - - -
Corporates - - -
Regulatory retail portfolios - - -
Other assets - - -
Total 180,380 - 1,379,560
11. Net Receivables from Credit Derivatives
(in million rupiah)
a b
Protection bought Protection sold
Indonesia - -
Notional Value - -
Single-name credit default swaps - -
Index credit default swaps - -
Total return swaps - -
Credit options - -
Other credit derivatives - -
Total Notional Value - -
Fair value - -
Positive fair value (asset) - -
Negative fair value (liability) - -
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(in million rupiah)
d e f g h i
Total Tagihan
50% 75% 100% 150% Others
Bersih
- - - - - 180,380
175,755 - - - - 297,863
- - - - - -
9,071,443 - - - - 10,328,895
- - - - - -
- - 3,227,391 - - 3,227,391
- 1,667,782 - - - 1,667,782
- - - - - -
9,247,199 1,667,782 3,227,391 - - 15,702,311
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13. Qualitative Disclosures on Securitization Exposures
The Bank has no securitization exposure as of December 31, 2023.
14. Securitization Exposure in Banking Book
a b c
English Bank as originator
Traditional Synthetic Sub-total
Retail (total) – of which - - -
residential mortgage - - -
credit card - - -
other retail exposures - - -
re-securitisation - - -
Wholesale (total) – of which - - -
loans to corporates - - -
commercial mortgage - - -
lease and receivables - - -
other wholesale - - -
re-securitisation - - -
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(in million rupiah)
e f g i j k
Bank as sponsor Bank as investor
Traditional Synthetic Sub-total Traditional Synthetic Sub-total
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
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15. Securitization Exposure on Trading Book
a b c
English Bank as originator
Traditional Synthetic Sub-total
Retail (total) – of which - - -
residential mortgage - - -
credit card - - -
other retail exposures - - -
re-securitisation - - -
Wholesale (total) – of which - - -
loans to corporates - - -
commercial mortgage - - -
lease and receivables - - -
other wholesale - - -
re-securitisation - - -
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Practices Governance Responsibility Commitment Statements
(in million rupiah)
e f g i j k
Bank as sponsor Bank as investor
Traditional Synthetic Sub-total Traditional Synthetic Sub-total
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
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16. Securitization exposure in the banking book when the bank is the originator or sponsor and its capital
requirements
a b c d e
Exposure value
English (based on Risk Weight)
>100% to
≤20% >20% to 50% >50% to 100% 1250%
<1250%
Risk Weight Risk Weight Risk Weight Risk Weight
Risk Weight
Total exposures - - - - -
Traditional securitisation - - - - -
Of which securitisation - - - - -
Of which retail underlying - - - - -
Of which wholesale - - - - -
Of which re-securitisation - - - - -
Of which senior - - - - -
Of which non-senior - - - - -
Synthetic securitisation - - - - -
Of which securitisation - - - - -
Of which retail underlying - - - - -
Of which wholesale - - - - -
Of which re-securitisation - - - - -
Of which senior - - - - -
Of which non-senior - - - - -
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(in million rupiah)
f g h i j k l m n o p q
Exposure value RWA
Capital charge after cap
(based on regulatory approach) (based on regulatory approach)
IRB RBA IRB RBA IRB RBA
(including IRB SFA SA/SSFA 1250% (including IRB SFA SA/SSFA 1250% (including IRB SFA SA/SSFA 1250%
IAA) IAA) IAA)
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
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17. Securitization exposure on the banking book and capital requirements - Bank as investor
a b c d e
Exposure value
No Indonesia (based on Risk Weight)
≤20% >20% to 50% >50% to 100% >100% to <1250% 1250%
Risk Weight Risk Weight Risk Weight Risk Weight Risk Weight
1 Total exposures - - - - -
2 Traditional securitisation - - - - -
3 Of which securitisation - - - - -
4 Of which retail underlying - - - - -
5 Of which wholesale - - - - -
6 Of which re-securitisation - - - - -
7 Of which senior - - - - -
8 Of which non-senior - - - - -
9 Synthetic securitisation - - - - -
10 Of which securitisation - - - - -
11 Of which retail underlying - - - - -
12 Of which wholesale - - - - -
13 Of which re-securitisation - - - - -
14 Of which senior - - - - -
15 Of which non-senior - - - - -
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(in million rupiah)
f g h i j k l m n o p q
Exposure value RWA
Capital charge after cap
(based on regulatory approach) (based on regulatory approach)
IRB RBA IRB SFA SA/SSFA 1250% IRB RBA IRB SFA SA/SSFA 1250% IRB RBA IRB SFA SA/SSFA 1250%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
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MARKET RISK EXPOSURE (MRP)
Table of Market Risk Disclosure Using Standard Methods
(in million rupiah)
December 31, 2023 December 31, 2022
No. Type Of Risks Individual Consolidated Individual Consolidated
Capital Capital Capital Capital
RWA RWA RWA RWA
Expense Expense Expense Expense
(1) (2) (3) (4) (5) (6) (3) (4) (5) (6)
1 Interest Rate Risk 33,341 416,761 35,035,1 437,938,5 13,273 165,909 16,100 201,248
a. Specific Risks - - 1,390,1 17,376,3 128 1,598 1,825 22,813
b. General Risks 33,341 416,761 33,645,0 420,562,3 13,145 164,311 14,275 178,435
2 Exchange Rate Risk 191,194 2,389,924 186,211,6 2,327,645,3 166,269 2,078,366 165,461 2,068,267
3 Equity Risk 0,4 5,1 - -
4 Commodity Risk - -
5 Option Risk - - - - - - - -
Total 224,535 2,806,685 221,247 2,765,589 179,542 2,244,275 181,561 2,269,514
4,936 4,936
CVA -
2,811,621 2,770,525
Grand Total -
Table of Market Risk Using Internal Methods 2022-2023
December 31, 2023 December 31, 2022
No. Type Of Risks End of VaR End of
Average Maximum Minimum Maximum Minimum
Period rata-rata Period
VAR VAR VAR VAR VAR
VAR harian VAR
1 Interest Rate Risk 272,556 325,264 223,506 254,764 269,649 351,999 187,516 301,467
2 Exchange Rate Risk 12,495 23,217 8,533 13,732 8,287 20,486 3,277 10,659
3 Risiko Option - - - - - - - -
Total 285,051 348,481 232,039 268,495 277,936 372,486 190,793 312,126
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Table of IRRBB Calculations for Individual Banks for December 2023 in IDRand USD Currency as well as
Qualitative and Quantitative Analysis
In million rupiah Δ EVE Δ NII
Period T T-1 T T–1
Parallel Up 6,057,975 3,550,865 2,312,326 855,277
Parallel Down (7,872,842) (4,874,359) (1,221,384) 973,617
Steepener 1,860,829 1,566,211
Flattener (972,360) (1,202,489)
Short Rate Up 1,936,274 597,244
Short Rate Down (3,422,685) (1,852,935)
Absolute Negative Maximum
7,872,842 4,874,359 1,221,384 855,277
Value
Tier 1 Capital (for Δ EVE) or
130,937,557 124,838,031 43,295,000 42,624,000
Projected Income (for Δ NII)
Maximum amount divided by
Tier 1 capital (for Δ EVE) or 6.01% 3.90% 2.82% 2.01%
Projected Income (for Δ NII)
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Qualitative Analysis
Interest rate risk in the Banking Book or Interest Rate Risk in the Banking Book, hereinafter abbreviated as IRRBB, is a current and
future risk to the Bank’s capital and profitability (earnings) caused by movements in interest rates in the market which have an
impact on the Banking position Book.
1
Included in the IRRBB is gap risk that arises from the term structure of banking book instruments; basis risk which describes the
impact of relative changes in interest rates on financial instruments assessed using different interest rate curves; option risk arising
from financial derivative positions or from the option risk element inherent in financial instruments.
The Bank manages IRRBB exposure using an economic value approach and a profitability/income approach (earning based
measures). As an implementation of segregation of duty, the Treasury Division acts as a unit that functions to manage interest rate
risk and the Risk Management Division acts as a unit that monitors interest rate risks that arise.
2
For the purpose of controlling and mitigating interest rate risk in the banking book, the Bank establishes controls both quantitatively
in the form of applying limits and risk appetite. The Bank also carries out qualitative risk control such as management strategies, risk
transfer through the Funds Transfer Pricing (FTP) mechanism and also hedging strategies.
The IRRBB calculation is carried out on a quarterly basis which then become part of the Risk Profile, part of the Bank’s Health Level
Self Assessment, part of the Quantitative Information on Risk Exposure, and part of the Disclosure of Risk Management Practices.
In order to measure IRRBB exposure, the Bank uses economic value and profitability as the basis for the measurement method.
Measuring the economic value of equity (economic value of equity), hereinafter referred to as EVE, measures changes in the
economic value of the Bank’s assets, liabilities and off-balance sheet accounts due to movements in interest rates. Currently, the
Bank measures changes in EVE (ΔEVE) as the maximum decrease in the economic value of the banking book in six standard interest
3
scenarios defined by the Basel Committee on Banking Supervision (BCBS) and FSA as stated in SEOJK IRRBB no SEOJK/12/2018.
Measuring bank profitability (earnings-based measure) looks at the estimated changes in net interest income, hereinafter
abbreviated to NII (net interest income) caused by movements in interest rates in the market for a certain period. For this reason,
the Bank measures changes in NII (ΔNII) as the maximum decrease in NII if there is a scenario of parallel increases or decreases in
interest rates as defined by the Basel Committee on Banking Supervision (BCBS) and SEOJK IRRBB no SEOJK/12/2018, compared to
financial planning Bank for a 12 month period.
In measuring EVE, the Bank uses the standardized approach SEOJK IRRBB No. SEOJK/12/2018, which the interest rate shock
scenario used includes:
a. parallel shock up in interest rates (parallel shock up);
b. parallel shock down in interest rates (parallel shock down);
c. a sloping interest rate shock (steepener shock) with a combination of decreasing short-term interest rates and increasing long-
term interest rates (short rates down and long rates up);
d. a flattening interest rate shock with a combination of increasing short-term interest rates and decreasing long-term interest rates
(short rates up and long rates down);
4 e. rising short-term interest rate shock (short rates shock up); And
f. short-term interest rate shock decreases (short rates shock down).
In measuring NII, the Bank uses the standardized approach SEOJK IRRBB No. SEOJK/12/2018, where the interest rate shock scenario
used includes:
a. parallel shock up in interest rates (parallel shock up);
b. parallel shock down in interest rates (parallel shock down).
In the future, for risk control purposes, the Bank will also evaluate IRRBB exposure using internal stress scenarios for EVE and NII
measurements.
There were no differences in methodology or modeling assumptions in the calculations used in the internal management system. In
5
other words, the Bank uses the Standardized Approach as a reference in calculating IRRBB for internal management purposes
Currently the Bank has a hedging instrument in the form of an Interest Rate Swap (IRS) to offset potential losses that arise if there is
6
a potential loss on AFS securities. The bank also carries out daily MTM on the IRS instrument.
a. For the EVE method, the bank calculates all cash flows from the principal value and interest payments which includes the
7
commercial margin (client rate) discounted at the risk free rate at the reporting date;
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Qualitative Analysis
b. The Bank uses a portfolio replication model and/or uniform slotting method in determining slotting and average repricing
maturities for NMD by taking into account the caps and provisions on average terms as stated in the SEOJK IRRBB..
The Bank has interest rate exposure from Non-Maturity Deposits (NMDs) positions originating from wholesale and retail
customers. To manage interest rate risk, the Bank carries out two-stage modeling in accordance with the provisions of SEOJK
IRRBB. In the first stage, the Bank analyzes changes in volume to determine the portion of NMD that is stable in the sense that it
has a small possibility of being withdrawn by customers. In the second stage, the Bank measures the proportion of core savings
from stable NMD that customers will not withdraw even if there are large changes in market interest while the Bank does not
adjust the interest on the NMD in question.
The main dimensions that influence the maturity of core NMDs (Core Deposits) are the elasticity of deposit interest to changes in
market interest rates, volatility of deposit volumes and other factors including customer behavior and macroeconomics.
By paying attention to the NMD modeling limitations that apply to the Standardized Approach, the Bank determines the
distribution and average repricing maturity maturity using a replicating portfolio approach and/or uniform slotting method
depending on the availability and reliability of data for each relevant NMD category at this time. consisting of wholesale NMD,
transactional retail NMD and non-transactional retail NMD. Modeling parameters are based on historical observations, statistical
analysis and management assessments.
Banks carry out risk modeling or estimation to determine prepayment rates for fixed interest loans and early withdrawal rates for
time deposits if these risks are not adequately mitigated, for example through fine provisions.
c. The Bank performs risk modeling or estimation to determine the prepayment rate for fixed rate loans and early withdrawal rate
for term Deposits if these risks are not adequately mitigated, for example through penalty provisions. early withdrawal rate for
Term Deposits if these risks are not adequately mitigated for example through penalty provisions.
In estimating the prepayment rate, the Bank uses statistical methods based on historical data in analyzing accelerated credit
repayment rates. Several main dimensions that influence customer repayment rates include: market interest rates, credit interest
rates, credit nominal, and several other factors.
Meanwhile, in estimating the early withdrawal rate, the Bank uses the Exponential Weighted Moving Average (EWMA) method.
This model assumes that tomorrow’s projected results are influenced by today’s actual data and past data. Several main
dimensions that influence customer withdrawal rates include: deposit interest rates, deposit nominal and several other factors
d. There are no other assumptions used by the Bank apart from the assumptions set by the SEOJK IRRBB.
e. The Bank calculates the IRRBB for each material currency and then aggregates them. The aggregation methodology is carried out
by simple addition.
Quantitative Analysis
The average period for interest rate adjustment (repricing maturity) for the Rupiah includes:
a. Wholesale for 1.11 years;
b. Transactional Retail for 3.32 years;
c. Non-Transactional Retail for 1.64 years.
1
The average interest rate adjustment period (repricing maturity) for USD includes:
a. Wholesale for 1.09 years;
b. Transactional Retail for 3.72 years;
c. Non-Transactional Retail for 1.70 years.
The longest interest rate adjustment period (repricing maturity) for the Rupiah includes:
a. Wholesale for a period of 5 years;
b. Transactional Retail for a period of 5 years;
c. Non-Transactional Retail for a period of 5 years.
2
The longest interest rate adjustment period (repricing maturity) for USD includes:
a. Wholesale for a period of 5 years;
b. Transactional Retail for a period of 5 years;
c. Non-Transactional Retail for a period of 5 years
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Consolidated IRRBB calculation with Subsidiaries as of December 2023 as well as Qualitative and
Quantitative Analysis
In million rupiah Δ EVE Δ NII
Period T T-1 T T–1
Parallel Up 6,783,743 3,550,865 2,234,677 855,277
Parallel Down (8,527,200) (4,874,359) (1,143,735) 973,617
Steepener 1,066,538 1,566,211
Flattener (6,705) (1,202,489)
Short Rate Up 2,940,179 597,244
Short Rate Down (4,539,905) (1,852,935)
Absolute Negative Maximum Value 8,527,200 4,874,359 1,143,735 855,277
Tier 1 Capital (for Δ EVE) or Projected Income (for
147,488,111 124,838,032 43,977,574 42,624,000
Δ NII)
Maximum amount divided by Tier 1 capital (for Δ
5.78% 3.90% 2.60% 2.01%
EVE) or Projected Income (for Δ NII)
T = Reporting Period December 2023
T – 1 = Reporting Period September 2023
Qualitative Analysis
Interest rate risk in the Banking Book or Interest Rate Risk in the Banking Book, hereinafter abbreviated as IRRBB, is a current and
future risk to the capital and profitability (earnings) of the Bank and Subsidiaries caused by movements in interest rates in the
market which have an impact in the Banking Book position.
1
Included in the IRRBB is gap risk that arises from the term structure of banking book instruments; basis risk which describes the
impact of relative changes in interest rates on financial instruments assessed using different interest rate curves; option risk arising
from financial derivative positions or from the option risk element inherent in financial instruments.
Banks and Subsidiaries manage IRRBB exposure using an economic value approach and a profitability/income approach (earning
based measures). As an implementation of segregation of duty, there is a separation between the unit that functions to manage
interest rate risk and the unit that monitors interest rate risk that arises.
2
For the purpose of controlling and mitigating interest rate risk in the banking book, the Bank and Subsidiaries establish controls both
quantitatively in the form of implementing limits and risk appetite. The Bank and Subsidiaries also carry out qualitative risk control
such as management strategies, risk transfer through the Funds Transfer Pricing (FTP) mechanism and also hedging strategies.
The IRRBB calculation is carried out on a quarterly basis which will then become part of the Risk Profile, part of the Bank’s
Soundness Level Self Assessment, part of the Quantitative Information on Risk Exposure, and part of the Disclosure of Risk
Management Practices.
In order to measure IRRBB exposure, the Bank and Subsidiaries use economic value and profitability as the basis for the
measurement method. Measurement of the economic value of equity (economic value of equity), hereinafter referred to as
EVE, measures changes in the economic value of assets, liabilities and administrative accounts (off balance sheet) of Banks and
Subsidiaries caused by movements in interest rates. Currently, the Bank and Subsidiaries measure changes in EVE (ΔEVE) as the
3
maximum decrease in the economic value of the banking book in six standard interest scenarios defined by the Basel Committee on
Banking Supervision (BCBS) and FSA as stated in SEOJK IRRBB no SEOJK/12/ 2018.
Measuring bank profitability (earnings-based measure) looks at the estimated changes in net interest income, hereinafter
abbreviated to NII (net interest income) caused by movements in interest rates in the market for a certain period. For this reason, the
Bank and Subsidiaries measure changes in NII (ΔNII) as the maximum decrease in NII if there is a scenario of parallel increases or
decreases in interest rates as defined by the Basel Committee on Banking Supervision (BCBS) and SEOJK IRRBB no SEOJK/12/2018,
compared with financial planning of the Bank and Subsidiaries for a 12 month period.
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Qualitative Analysis
In measuring EVE, the Bank and Subsidiaries use the SEOJK IRRBB standardized approach no SEOJK/12/2018, which the interest
rate shock scenario used includes:
a. parallel shock up in interest rates (parallel shock up);
b. parallel shock down in interest rates (parallel shock down);
c. a sloping interest rate shock (steepener shock) with a combination of decreasing short-term interest rates and increasing long-
term interest rates (short rates down and long rates up);
d. a flattening interest rate shock with a combination of increasing short-term interest rates and decreasing long-term interest rates
(short rates up and long rates down);
4 e. rising short-term interest rate shock (short rates shock up); And
f. short-term interest rate shock decreases (short rates shock down).
In measuring NII, the Bank and Subsidiaries use the SEOJK IRRBB standardized approach no SEOJK/12/2018, which the interest rate
shock scenario used includes:
a. parallel shock up in interest rates (parallel shock up);
b. parallel shock down in interest rates (parallel shock down).
In the future, for risk control purposes, the Bank and Subsidiaries will also evaluate IRRBB exposure using internal stress scenarios
for EVE and NII measurements.
There were no differences in methodology or modeling assumptions in the calculations used in the internal management system. In
5 other words, the Bank and Subsidiaries use the Standardized Approach as a reference in calculating IRRBB for internal management
purposes.
Currently, the Bank has a hedging instrument in the form of an Interest Rate Swap (IRS) to offset potential losses that arise if there is
6
a potential loss on AFS securities. The bank also carries out daily MTM on the IRS instrument.
a. For the EVE Method, the Bank and Subsidiaries calculate all cash flows from the principal amount and interest payments which
include the commercial margin (client rate) discounted at the risk free rate at the reporting date;
b. The Bank and Subsidiaries use the portfolio replication model and/or uniform slotting method in determining the slotting and
average repricing maturities for NMD by taking into account the caps and provisions on the average term as stated in the SEOJK
IRRBB.
The Bank and Subsidiaries have interest rate exposure from Non-Maturity Deposits (NMDs) positions originating from wholesale
and retail customers. To manage the interest rate risk, the Bank and Subsidiaries carried out two-stage modeling in accordance
with the provisions of the SEOJK IRRBB. In the first stage, the Bank and Subsidiaries carry out an analysis of changes in volume
to determine the portion of NMD that is stable in the sense that it has a small possibility of being attracted by customers. In the
second stage, the Bank and Subsidiary Companies measure the proportion of core savings from stable NMD that customers
will not withdraw even if there are large changes in market interest, while the Bank and Subsidiary Companies do not adjust the
interest on the NMD in question.
The main dimensions that influence the maturity of core NMDs (Core Deposits) are the elasticity of deposit interest to changes in
market interest rates, volatility of deposit volumes and other factors including customer behavior and macroeconomics.
By taking into account the NMD modeling limitations that apply to the Standardized Approach, the Bank and Subsidiaries
determine the distribution and average repricing maturity maturity using a replicating portfolio approach and/or uniform slotting
7 method depending on the availability and reliability of data for each relevant NMD category. Currently it consists of wholesale
NMD, transactional retail NMD and non-transactional retail NMD. Modeling parameters are based on historical observations,
statistical analysis and also professional judgment.
c. Banks and Subsidiaries carry out risk modeling or estimation to determine prepayment rates for fixed interest loans and early
withdrawal rates for time deposits if these risks are not adequately mitigated, for example through fine provisions.
In estimating the prepayment rate, the Bank and Subsidiaries use statistical methods based on historical data in analyzing
accelerated credit repayment rates. Several main dimensions that influence customer repayment rates include: market interest
rates, credit interest rates, credit nominal, and several other factors.
Meanwhile, in estimating the early withdrawal rate, the Bank and Subsidiaries use the Exponential Weighted Moving Average
(EWMA) method. This model assumes that tomorrow’s projected results are influenced by today’s actual data and past data.
Several main dimensions that influence customer withdrawal rates include: deposit interest rates, deposit nominal and several
other factors.
d. There are no other assumptions used by the Bank and Subsidiaries apart from the assumptions set by the SEOJK IRRBB.
e. Banks and Subsidiaries calculate IRRBB for each material currency and then aggregate them. The aggregation methodology is
carried out by simple addition.
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Quantitative Analysis
The average period for interest rate adjustment (repricing maturity) for the Rupiah includes:
a. Wholesale for 1.11 years;
b. Transactional Retail for 3.32 years;
c. Non-Transactional Retail for 1.64 years.
1
The average interest rate adjustment period (repricing maturity) for USD includes:
a. Wholesale for 1.09 years;
b. Transactional Retail for 3.72 years;
c. Non-Transactional Retail for 1.70 years.
The longest period of interest rate adjustment (repricing maturity) for the Rupiah includes:
a. Wholesale for a period of 5 years;
b. Transactional Retail for a period of 5 years;
c. Non-Transactional Retail for a period of 5 years.
2
The longest interest rate adjustment period (repricing maturity) for USD includes:
a. Wholesale for a period of 5 years;
b. Transactional Retail for a period of 5 years;
c. Non-Transactional Retail for a period of 5 years.
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LIQUIDITY RISK EXPOSURE (MRP)
Disclosure Table of Rupiah Maturity Profile for Bank Only 2022-2023
Maturity
POS-POS Password Balance
> 1 week est. 2
est. 1 week
weeks
I. Balance Sheet
A. Assets 10000 801.775.379 94.399.270 5.004.403
1. Cash 10100 10,307,341 10,307,341 -
2. Placement with Bank Indonesia 10200 66,867,572 66,867,572 -
a. Current Accounts 10210 56,873,402 56,873,402 -
b. SBI 10220 - - -
c. Others 10290 9,994,170 9,994,170 -
3. Placement with other bank 10300 665,400 100,000 -
4. Marketable Securities 10400 111,079,804 1,100,000 99,907
a. SUN 10410 88,924,156 1,100,000 99,907
1) traded 10411 4,395,890 - 99,907
2) available for sale 10412 63,091,034 1,100,000 -
3) held to maturity 10413 21,437,232 - -
4) loans and receivables 10414 - - -
b. Corporate Securities 10420 2,932,537 - -
1) traded 10421 - - -
2) available for sale 10422 2,632,537 - -
3) held to maturity 10423 300,000 - -
4) loans and receivables 10424 - - -
c. Others 10490 19,223,111 - -
5. Loans Disbursed 10500 520,583,039 6,970,485 4,161,331
a. Not Yet Due 10510 482,070,012 6,970,485 4,161,331
b. Already Due 10520 38,513,027 - -
6. Other Receivables 10700 19,777,519 9,051,552 733,118
a. Receivables on securities purchased
10710 9,651,897 8,151,897 300,000
under agreement to resell (Reverse Repo)
b. Others 10790 10,125,622 899,655 433,118
7. Others 10600 72,494,704 2,320 10,047
B. Liabilities 20000 654,887,064 15,072,284 11,262,966
1. Third Party Fund 20100 625,397,019 12,136,701 11,050,791
a. Current Accounts 20110 200,813,584 5,883,327 5,883,327
b. Saving 20120 221,571,374 2,308,444 2,308,443
c. Deposits 20130 203,012,061 3,944,930 2,859,021
1) Deposit on call 20131 932,502 47,475 34,407
2) Time Deposits 20132 191,915,961 3,380,008 2,449,604
3) Others 20139 10,163,598 517,446 375,011
2. Liabilities with Bank Indonesia 20200 2,086 - -
3. Liabilities with other banks 20300 2,598,781 2,290,172 154,650
4. Securities Issued 20400 4,998,287 - -
a. Bonds 20410 4,998,287 - -
b. Subordinate 20420 - - -
c. Others 20490 - - -
5. Loans Received 20500 - - -
a. Subordinate Loans 20510 - - -
b. Others 20590 - - -
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(in million rupiah)
Maturity
> 1 month > 3 months est. 6 > 6 months
> 2 weeks est. 1 month > 12 month
est. 3 months months est. 12 months
24.293.271 47.068.179 38.933.826 50.252.365 541.824.065
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- 89,874 - - 475,526
1,970,490 5,168,634 3,273,444 6,410,985 93,056,344
1,970,490 5,141,700 2,410,809 6,056,626 72,144,624
1,970,490 2,325,493 - - -
- 2,816,207 2,410,809 5,831,181 50,932,837
- - - 225,445 21,211,787
- - - - -
- 26,934 561,476 354,359 1,989,768
- - - - -
- 26,934 561,476 354,359 1,689,768
- - - - 300,000
- - - - -
- - 301,159 - 18,921,952
20,851,192 34,473,215 32,571,840 38,279,543 383,275,433
20,851,192 34,473,215 32,571,840 38,279,543 344,762,406
- - - - 38,513,027
1,009,871 6,618,141 1,792,781 35,889 536,167
- 1,200,000 - - -
1,009,871 5,418,141 1,792,781 35,889 536,167
461,718 718,315 1,295,761 5,525,948 64,480,595
24,194,657 52,335,018 15,866,547 58,911,906 477,243,686
23,628,955 51,566,545 15,169,391 58,790,461 453,054,175
11,766,653 - - - 177,280,277
4,616,887 - - - 212,337,600
7,245,415 51,566,545 15,169,391 58,790,461 63,436,298
87,195 - - - 763,425
6,207,857 51,566,545 15,169,391 58,790,461 54,352,095
950,363 - - - 8,320,778
- - - - 2,086
128,377 9,621 908 14,793 260
- - - - 4,998,287
- - - - 4,998,287
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
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Maturity
POS-POS Password Balance
> 1 week est. 2
est. 1 week
weeks
6. Other Liabilities 20700 2,448,807 638,254 52,338
a. Receivables on securities sold under
20710 199,314 - -
agreement to resell (Reverse Repo)
b. Others 20790 2,249,493 638,254 52,338
7. Others 20600 19,442,084 7,157 5,187
C. Differences of Asset and Liabilities in
30000 146,888,315 79,326,986 (6,258,563)
Balance Sheet
II. Administrative Account
Administrative Account Receivables 40000 35,021,708 16,852,047 2,872,278
1. Commitment 40100 28,606,140 10,436,479 2,872,278
a. Unused loan facilities 40110 - - -
b. Ongoing spot and derivative purchase
40120 28,606,140 10,436,479 2,872,278
positions
1) Spot 40121 1,752,122 1,752,122 -
2) Derivative 40122 26,854,019 8,684,358 2,872,278
c. Others 40190 - - -
2. Contingencies 40200 6,415,568 6,415,568 -
B. Administrative Account Liabilities 50000 113,597,004 23,325,466 9,275,111
1. Commitment 50100 77,481,479 16,699,098 6,933,159
a. Unused loan facilities 50110 45,397,967 8,675,036 698,763
b. Ongoing Irrevocable L/C 50120 3,237,911 174,248 413,516
c. Ongoing spot and derivative sale
50130 28,845,602 7,849,814 5,820,880
positions
1) Spot 50131 835,308 835,308 -
2) Derivative 50132 28,010,294 7,014,506 5,820,880
d. Others 50190 - - -
2. Contingencies 50200 36,115,525 6,626,368 2,341,952
C. Differences of Receivables and Liabilities in
60000 (78,575,296) (6,473,419) (6,402,833)
Balance Sheet
Differences [(IA-IB)+(IIA-IIB)] 70000 68,313,019 72,853,567 (12,661,396)
Cumulative Difference 80000 72,853,567 60,192,171
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(in million rupiah)
Maturity
> 1 month > 3 months est. 6 > 6 months
> 2 weeks est. 1 month > 12 month
est. 3 months months est. 12 months
424,181 665,305 668,729 - -
199,314 - - - -
224,867 665,305 668,729 - -
13,144 93,547 27,519 106,652 19,188,878
98,614 (5,266,839) 23,067,279 (8,659,541) 64,580,379
7,686,057 2,229,496 4,843,255 538,575 -
7,686,057 2,229,496 4,843,255 538,575 -
- - - - -
7,686,057 2,229,496 4,843,255 538,575 -
- - - - -
7,686,057 2,229,496 4,843,255 538,575 -
- - - - -
- - - - -
11,221,258 12,419,782 6,219,396 8,507,131 42,628,860
9,098,826 8,323,668 2,360,512 153,515 33,912,701
2,111,467 - - - 33,912,701
467,486 1,679,367 503,294 - -
6,519,874 6,644,301 1,857,218 153,515 -
- - - - -
6,519,874 6,644,301 1,857,218 153,515 -
- - - - -
2,122,432 4,096,114 3,858,884 8,353,616 8,716,159
(3,535,201) (10,190,286) (1,376,141) (7,968,556) (42,628,860)
(3,436,587) (15,457,125) 21,691,138 (16,628,097) 21,951,519
56,755,584 41,298,459 62,989,597 46,361,500 68,313,019
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DISCLOSURE OF RUPIAH MATURITY PROFILE FOR THE BANK
CONSOLIDATED WITH SUBSIDIARIES 2022-2023
December 31, 2023
Portfolio Maturity
Portfolio Category
Category
balance
≤1 Month
I BALANCE SHEET
A. Assets
1. Cash 10,389,188 10,388,832
2. Placement with Bank Indonesia 68,461,830 68,461,830
3. Placement with other bank 2,852,841 1,179,791
4. Marketable Securities 134,613,680 3,232,889
5. Loans Disbursed 527,512,669 32,231,629
6. Other Receivables 23,794,654 13,438,790
7. Others 71,354,722 607,595
Total Assets 838,979,584 129,541,356
B. Liabilities
1. Third Party Fund 633,945,761 49,613,966
2. Liabilities pada Bank Indonesia 2,085 -
3. Liabilities with other banks 2,658,187 2,584,375
4. Securities Issued 4,893,357 -
5. Loans Received 1,030,417 86,972
6. Other Liabilities 2,463,176 1,261,241
7. Others 45,392,064 538,440
Total Assets 690,385,047 54,084,994
Differences of Asset and Liabilities in Balance Sheet 148,594,537 75,456,362
II ADMINISTRATIVE ACCOUNT
A. Administrative Account Receivables
1. Commitment 28,606,140 20,994,814
2. Contingencies 6,415,568 6,415,568
Total Administrative Account Receivables 35,021,708 27,410,382
B. Administrative Account Liabilities
1. Commitment 79,066,015 32,788,608
2. Contingencies 36,268,904 11,090,751
Total Administrative Account Liabilities 115,334,919 43,879,359
Differences of Receivables and Liabilities in Balance Sheet (80,313,211) (16,468,977)
Differences [(IA-IB)+(IIA-IIB)] 68,281,326 58,987,385
Cumulative Difference 58,987,385
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(in Thousand USD)
December 31, 2023
Maturity
> 1 month > 6 months
> 3 months est. 6 months > 12 month
est. 3 months est. 12 months
- - - 356
- - - -
89,873 - 40,000 1,543,177
5,279,210 3,510,704 7,049,087 115,541,790
35,120,650 33,223,015 40,457,721 386,479,654
7,133,817 2,302,433 369,071 550,543
718,315 1,295,761 5,525,948 63,207,103
48,341,865 40,331,913 53,441,827 567,322,623
52,230,069 15,260,260 61,838,657 455,002,809
- - - 2,085
19,621 908 16,793 36,490
- - - 4,893,357
119,872 111,121 220,696 491,756
665,305 311,243 - 225,387
95,463 27,519 107,861 44,622,781
53,130,330 15,711,051 62,184,007 505,274,665
(4,788,465) 24,620,862 (8,742,180) 62,047,958
2,229,496 4,843,255 538,575 -
- - - -
2,229,496 4,843,255 538,575 -
8,373,473 2,410,317 253,125 35,240,492
4,096,114 3,858,884 8,353,616 8,869,539
12,469,587 6,269,201 8,606,741 44,110,031
(10,240,091) (1,425,946) (8,068,166) (44,110,031)
(15,028,556) 23,194,916 (16,810,346) 17,937,927
43,958,829 67,153,745 50,343,399 68,281,326
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DISCLOSURE OF FOREIGN CURRENCY MATURITY PROFILE FOR BANK ONLY 2022-2023
Maturity*)
Posts Password Balance > 1 week
est. 1 week
est. 2 weeks
I. NERACA
A. Assets 10000 246,950,348 56,050,989 5,576,115
1. Cash 10100 815,732 815,732 -
2. Placement with Bank Indonesia 10200 35,917,725 33,254,044 19,246
3. Placement with other bank 10300 36,434,094 18,124,516 384,925
4. Marketable Securities **) 10400 38,198,943 88,174 87,355
a. Corporate Securities 10420 790,097 - -
b. Others 10490 37,408,845 88,174 87,355
5. Other Receivables 10500 120,404,172 2,968,638 4,335,947
a. Not Yet Due 10510 119,139,789 2,968,638 4,335,947
b. Already Due ***) 10520 1,264,384 - -
6. Other Receivables 10700 8,711,533 742,535 488,306
a. Receivables on securities purchased under
10710 296,689 - -
agreement to resell (reverse repo)
b. Others 10790 8,414,844 742,535 488,306
7. Others 10600 6,468,149 57,350 260,336
B. Liabilities 20000 247,908,096 14,012,758 9,436,915
1. Third Party Fund 20100 176,311,842 8,482,493 8,930,315
a. Current Accounts 20110 142,278,178 6,831,754 6,831,754
b. Saving 20120 9,431,399 552,271 552,271
c. Time Deposit 20130 24,602,265 1,098,468 1,546,290
2. Liabilities with Bank Indonesia 20200 424,067 424,067 -
3. Liabilities with other banks 20300 8,946,903 4,606,791 239,939
4. Securities Issued 20400 16,928,724 - -
5. Loans Received 20500 29,793,386 115,514 -
6. Other Liabilities 20700 10,977,492 383,893 266,661
7. Others 20600 4,525,682 - -
C. Differences of Asset and Liabilities in Balance Sheet 30000 (957,748) 42,038,231 (3,860,800)
D. Cumulative 42,038,231 38,177,431
II ADMINISTRATIVE ACCOUNT
A. Administrative Account Receivables 40000 84,689,089 38,168,670 18,612,504
1. Commitment 40100 67,220,143 20,699,724 18,612,504
a. Unused loan facilities 40110 - - -
b. Ongoing spot and derivative purchase
40120 67,136,532 20,616,113 18,612,504
positions
1) Spot 40121 835,297 835,297 -
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(in Thousand USD)
Maturity*)
> 2 weeks > 1 month est. 3 > 3 months est. 6 > 6 months est. 12
> 12 month
est. 1 month months months months
15,323,552 19,610,961 8,662,182 9,255,732 132,470,817
- - - - -
712,111 1,685,972 246,352 - -
356,131 206,336 - - 17,362,186
1,331,444 1,553,947 1,792,326 2,116,626 31,229,071
- 76,662 - - 713,435
1,331,444 1,477,285 1,792,326 2,116,626 30,515,635
10,271,158 13,891,390 3,766,897 6,540,164 78,629,978
10,271,158 13,891,390 3,766,897 6,540,164 77,365,595
- - - - 1,264,384
2,644,320 2,272,784 2,195,601 367,987 -
296,689 - - - -
2,347,631 2,272,784 2,195,601 367,987 -
8,388 532 661,006 230,955 5,249,582
20,315,126 9,211,025 9,625,573 11,025,207 174,281,492
15,887,536 6,422,581 2,898,824 1,701,584 131,988,509
13,663,509 - - - 114,951,161
1,104,542 - - - 7,222,315
1,119,485 6,422,581 2,898,824 1,701,584 9,815,033
- - - - -
960,601 1,777,261 359,304 1,003,007 -
- - - - 16,928,724
1,224,062 - 5,773,875 7,812,515 14,867,420
2,242,927 1,011,183 593,570 508,101 5,971,157
- - - - 4,525,682
(4,991,574) 10,399,936 (963,391) (1,769,475) (41,810,675)
33,185,857 43,585,793 42,622,402 40,852,927 (957,748)
19,303,103 6,606,499 1,844,343 153,970 -
19,303,103 6,606,499 1,844,343 153,970 -
- - - - -
19,303,103 6,606,499 1,844,343 153,970 -
- - - - -
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Maturity*)
Posts Password Balance > 1 week
est. 1 week
est. 2 weeks
2) Derivative 40122 66,301,236 19,780,817 18,612,504
c. Others 40190 83,611 83,611 -
2. Contingencies *****) 40200 17,468,946 17,468,946 -
-
B. Administrative Account Liabilities 50000 121,835,865 33,892,728 17,599,520
1. Commitment 50100 89,331,309 32,291,775 16,793,535
a. Unused loan facilities 50110 8,996,275 8,996,275 -
b. Ongoing Irrevocable L/C 50120 13,604,483 67,589 1,151,527
Ongoing spot and derivative sale
c. 50130 66,730,550 23,227,911 15,642,008
positions
1) Spot 50131 1,734,600 1,734,600 -
2) Derivative 50132 64,912,338 21,409,699 15,642,008
d. Others 50190 83,611 83,611 -
2. Contingencies ******) 50200 32,504,556 1,600,953 805,985
C. Differences of Receivables and Liabilities in Balance
(37,146,776) 4,275,942 1,012,984
Sheet
Differences [(IA-IB)+(IIA-IIB)] 70000 (38,104,524) 46,314,173 (2,847,816)
Cumulative Difference 80000 46,314,173 43,466,357
572 From Local to Global
Page 573
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in Thousand USD)
Maturity*)
> 2 weeks > 1 month est. 3 > 3 months est. 6 > 6 months est. 12
> 12 month
est. 1 month months months months
19,303,103 6,606,499 1,844,343 153,970 -
- - - - -
- - - - -
23,383,028 6,061,600 8,167,159 7,897,657 24,834,173
22,167,803 4,855,570 5,401,063 3,010,668 4,810,895
- - - - -
1,777,726 2,649,288 675,685 2,471,773 4,810,895
20,390,076 2,206,282 4,725,378 538,895 -
- - - - -
20,390,076 2,206,282 4,725,378 538,895 -
- - - - -
1,215,225 1,206,030 2,766,096 4,886,989 20,023,278
(4,079,925) 544,899 (6,322,816) (7,743,687) (24,834,173)
(9,071,499) 10,944,835 (7,286,207) (9,513,162) (66,644,848)
34,394,858 45,339,693 38,053,486 28,540,324 (38,104,524)
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 573
Page 574
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
DISCLOSURE OF FOREIGN CURRENCY MATURITY PROFILE FOR
THE BANK CONSOLIDATED WITH SUBSIDIARIES 2022-2023
December 31, 2023
Portfolio Maturity
Portfolio Category
Category
balance
≤1 Month
I BALANCE SHEET
A. Assets
1. Cash 818,013 818,013
2. Placement with Bank Indonesia 36,223,393 34,291,069
3. Placement with other bank 36,535,401 18,758,567
4. Marketable Securities 38,500,261 1,506,981
5. Loans Disbursed 120,413,969 17,575,737
6. Other Receivables 8,721,042 3,875,148
7. Others 6,472,323 326,078
Total Assets 247,684,402 77,151,593
B. Liabilities
1. Third Party Fund 176,784,582 33,270,099
2. Liabilities pada Bank Indonesia 424,068 424,068
3. Liabilities with other banks 8,935,452 5,807,348
4. Securities Issued 16,928,731 -
5. Loans Received 29,793,386 1,339,570
6. Other Liabilities 10,987,010 2,893,530
7. Others 4,551,695 -
Total Liabilities 248,404,924 43,734,615
Differences of Asset and Liabilities in Balance Sheet (720,522) 33,416,978
I ADMINISTRATIVE ACCOUNT
A. Administrative Account Receivables
1. Commitment 67,220,143 58,615,332
2. Contingenci 17,468,946 17,468,946
Total Administrative Account Receivables 84,689,089 76,084,278
B. Administrative Account Liabilities
1. Commitment 89,331,315 71,253,113
2. Contingencies 32,508,796 3,622,160
Total Administrative Account Liabilities 121,840,111 74,875,273
Differences of Receivables and Liabilities in Balance Sheet (37,151,022) 1,209,005
Differences [(IA-IB)+(IIA-IIB)] (37,871,544) 34,625,983
Cumulative Difference 34,625,983
574 From Local to Global
Page 575
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
(in Thousand USD)
December 31, 2023
Maturity
> 1 month est. 3 months > 3 months est. 6 months > 6 months est. 12 months > 12 month
- - - -
1,685,972 246,352 - -
206,335 - - 17,570,499
1,553,942 1,792,319 2,116,626 31,530,393
13,891,389 3,766,891 6,540,168 78,639,784
2,272,782 2,195,597 377,515 -
539 661,009 230,955 5,253,742
19,610,959 8,662,168 9,265,264 132,994,418
6,422,581 2,898,824 1,701,584 132,491,494
- - - -
1,777,260 359,304 991,540 -
- - - 16,928,731
- 5,773,875 7,812,515 14,867,426
1,011,183 236,083 508,101 6,338,113
- - - 4,551,695
9,211,024 9,268,086 11,013,740 175,177,459
10,399,935 (605,918) (1,748,476) (42,183,041)
6,606,499 1,844,345 153,967 -
- - - -
6,606,499 1,844,345 153,967 -
4,855,567 5,401,067 3,010,668 4,810,900
1,206,032 2,766,102 4,886,992 20,027,510
6,061,599 8,167,169 7,897,660 24,838,410
544,900 (6,322,824) (7,743,693) (24,838,410)
10,944,835 (6,928,742) (9,492,169) (67,021,451)
45,570,818 38,642,076 29,149,907 (37,871,544)
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 575
Page 576
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Disclosure of Liquidity Coverage Ratio for Bank Only for the Position as at December 2023
Value of HQLA
After Deduction of
Value of Outstanding
(Haircut), Outstanding
Liabilities and
Liabilities and
Commitments/
Commitment Times
Value of Contractual
Run-Off Rate or Value
Claims
of Contractual Claims
Times Inflow Rate
HIGH QUALITY LIQUID ASSET (HQLA)
1 Total High Quality Liquid Asset (HQLA) 202,186,836
ARUS Cash KELUAR (CASH OUTFLOW)
Retail deposits and deposits from Micro and Small
2 422,421,060 30,349,851
Business:
a. Stable deposit/funding 237,845,097 11,892,255
b. Less Stable deposit/funding 184,575,962 18,457,596
3 Funding from corporate customers consisting of: 379,130,249 94,842,199
a. Operational deposits 270,275,499 57,338,657
b. Non-operational deposit and/or other non-operational
108,854,750 37,503,542
liabilities
c. Marketable securities (bank issued debt notes) - -
4 secured funding 22,490
5 Additional requirement, consisting of: 102,874,794 81,967,407
a. Cash outflow on derivative transaction 73,995,635 73,995,635
b. Cash outflow on additional liquidity - -
c. Cash outflow on lost funding - -
d. Cash outflow on withdrawal of commitments of loan
and liquidity facility 15,020,233 1,502,023
e. Cash outflow on other contractual liability related to
- -
lending
f. Cash outflow on other lending contingencies 7,617,708 228,531
g. Other contractual cash outflows 6,241,217 6,241,217
TOTAL CASH OUTFLOW 207,181,947
CASH INFLOW
6 Secured lending 10,983,900 -
7 Claims from counterparty 26,057,442 14,451,349
8 Other cash inflows 79,321,935 76,592,773
576 From Local to Global
Page 577
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Value of HQLA
After Deduction of
Value of Outstanding
(Haircut), Outstanding
Liabilities and
Liabilities and
Commitments/
Commitment Times
Value of Contractual
Run-Off Rate or Value
Claims
of Contractual Claims
Times Inflow Rate
TOTAL CASH INFLOW 116,363,277 91,044,121
TOTAL ADJUSTED VALUE
TOTAL HQLA 202,186,836
TOTAL NET CASH OUTFLOWS 116,137,825
LCR (%) 174.09%
Analysis of Liquidity Coverage Ratio Development for Bank Only
Analysis
1. LCR individual (bank only) position December 2023 was 174.09% above the required provisions, namely 100%.
2. LCR December 2023 compared to LCR November 2023 decreased by 5.57% from 179.66% to 174.09% which was caused by an increase
in Net Cash Out Flow of IDR7.85 T. The increase in Net Cash Out Flow was dominated by an increase in withdrawals operational funding
from corporate customers that is not guaranteed by LPS is IDR4.63 T.
3. The composition of HQLA as of December 2023 was still dominated by HQLA Level 1 at 99.23%. Meanwhile, HQLA Level 2A is 0.69%
and Level 2B is 0.08%, still below the maximum required HQLA limit.
4. The concentration of funding sources (outstanding) is dominated by individual funding at 39.97%, corporate funding at 47.23%, MSME
customers at 12.65% and secured funding at 0.15%.
5. Average BNI derivative exposure during December 2023 was net short IDR132.03 billion.
6. The average BNI NOP during December 2023 is 1.70%.
7. Bank liquidity can be maintained properly to fulfill regulatory compliance and to support the Bank’s business activities.
8. There were no cash inflows and cash outflows from the LCR calculation that are not included in the LCR template, the Bank considers
including these cash inflows and cash outflows because they are relevant to the Bank’s liquidity profile.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 577
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Disclosure of Liquidity Coverage Ratio for Bank Consolidated with Subsidiaries for the Position
as at December 2023
(in million IDR)
Value of HQLA
After Deduction of
Value of Outstanding
(Haircut), Outstanding
Liabilities and
Liabilities and
Commitments/
Commitment Times
Value of Contractual
Run-Off Rate or Value
Claims
of Contractual Claims
Times Inflow Rate
HIGH QUALITY LIQUID ASSET (HQLA)
1 Total High Quality Liquid Asset (HQLA) 209,517,818
ARUS Cash KELUAR (CASH OUTFLOW)
Retail deposits and deposits from Micro and Small
2 424,635,478 30,553,515
Business:
a. Stable deposit/funding 238,200,662 11,910,033
b. Less Stable deposit/funding 186,434,816 18,643,482
3 Funding from corporate customers consisting of: 382,470,130 96,139,107
a. Operational deposits 270,911,808 57,491,568
b. Non-operational deposit and/or other non-operational
111,558,322 38,647,539
liabilities`
c. Marketable securities (bank issued debt notes) - -
4 a. Secured Funding 22,490
5 Additional requirement, consisting of: 104,686,008 82,407,746
a. Cash outflow on derivative transaction 73,995,635 73,995,635
b. Cash outflow on additional liquidity -
c. Cash outflow on lost funding - -
d. Cash outflow on other contractual liability related to
16,509,253 1,643,712
lending
e. Cash outflow on other lending contingencies - -
f. Cash outflow on other lending contingencies 7,641,981 229,259
g. Other contractual cash outflows 6,539,139 6,539,139
TOTAL CASH OUTFLOW 209,122,857
CASH INFLOW
6 Secured lending 11,784,223 26,252
7 Claims from counterparty 27,231,912 15,042,181
8 Other cash inflows 80,308,326 77,106,310
TOTAL CASH INFLOW 119,324,461 92,174,743
TOTAL ADJUSTED VALUE1
TOTAL HQLA 209,517,818
TOTAL NET CASH OUTFLOWS 116,948,114
LCR (%) 179.15%
Description:
Adjusted values are calculated after the imposition of haircuts, run-off rates, and inflow rates as well as the maximum limit of HQLA components, e.g. HQLA Level 2B and
HQLA Level 2 maximum limits as well as the maximum limit of cash inflows that can be taken into account in the LCR..
578 From Local to Global
Page 579
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Analysis of Liquidity Coverage Ratio Development for Bank Consolidated with Subsidiaries
Analysis
1. The consolidated LCR for the December 2023 position was 179.15% above the required condition, namely 100%.
2. Consolidated LCR for December 2023 decreased by 5.45% compared to Consolidated LCR for November 2023 from 184.60% to 179.15%,
due to an increase in Net Cash Out Flow as a percentage, increasing by 7.21%. The increase in Net Cash Out Flow was dominated by
withdrawals of operational funding from corporate customers who were not guaranteed by LPS amounting to IDR4.61 T.
3. The composition of HQLA as of December 2023 was still dominated by HQLA Level 1 at 99.25%. Meanwhile, HQLA Level 2A is 0.67%
and Level 2B is 0.08%, still below the maximum HQLA required, namely a maximum of 40% for HQLA level 2 and a maximum of 15%
for HQLA level 2B of the total HQLA.
4. Bank liquidity on a consolidated basis can be well maintained in order to comply with regulatory requirements and to support bank
business activities.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 579
Page 580
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Disclosure of Net Stable Funding Ratio, Bank Only December 2023 Position
Carrying Value Based On Remaining Tenor
No < 6 month – Total
ASF Component < 6 month ≥1 year Weighted
Tenor 1 year
Value
Carrying Carrying Carrying Carrying
Value Value Value Value
1 Capital: 166,441,551 - - - 166,441,551
2 Capital as CAR POJK 166,441,551 - - - 166,441,551
3 Other capital components - - - - -
Deposits from individual customers and
4 funding from micro and small business 329,256,505 36,606,135 24,990,155 1,353,793 392,206,588
customers:
5 Stable deposits 225,952,842 - - - 225,952,842
6 Less stable deposits 103,303,663 36,606,135 24,990,155 1,353,793 166,253,745
7 Funding from corporate customers: 135,137,749 44,865,340 11,660,658 25,820,110 217,483,858
8 Operational funding 135,137,749 - - - 135,137,749
9 Other funding from corporate customers - 44,865,340 11,660,658 25,820,110 82,346,108
10 NSFR for derivative liabilities - - - - -
11 Other liabilities: 7,284,000 - 8,507 5,190,766 12,483,273
12 NSFR for derivative liabilities - - -
Equity and liability components other than
13 7,284,000 - 8,507 5,190,766 12,483,273
the above category
14 Total ASF 788,615,270
15 Total HQLA for the calculation of NSFR 13,614,224
Deposit with other financial institutions for
16 17,491,134 949,798 - - 18,440,932
operational purposes
Loans in Current and Special Mention
17 Category (Performing) and marketable - 59,758,665 123,356,445 230,714,360 413,829,470
securities
To financial institutions secured by HQLA
18 994,859 - - 994,859
Level 1
To financial institutions secured by non-
19 HQLA Level 1 and unsecured loan to financial - 78,326 1,976,500 78,289 2,133,115
institutions
To non-financial institutions, individual
customers, and micro and small business
customers, Government of Indonesia,
20 government of other countries, Bank 56,769,403 119,306,165 170,683,323 346,758,890
Indonesia, central banks of other countries,
and public sector entities, including those
that:
Meet the qualification for 35% or less risk
21 weighted in accordance with SE OJK on RWA 3,272,927 11,735,322 6,528,979 21,537,227
Credit Risk
Loans secured with unpledged residential
22 1,722,177 1,962,120 42,584,680 46,268,977
properties, including those that:
Meet the qualification for 35% or less risk
23 weighted in accordance with SE OJK on RWA 328,362 515,580 9,787,499 10,631,441
Credit Risk
Marketable Securities not under pledge,
24 not in default, and not classified as HQLA, 193,901 111,659,83 17,368,068,50 17,673,629
including shares traded at the stock exchange
25 Assets with interdependent liability match - - - - -
26 Other assets: 24,724,158 19,012,985 481,628 46,193,049 90,411,820
Tradable physical commodities, including
27 - -
gold
580 From Local to Global
Page 581
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Carrying Value Based On Remaining Tenor
No < 6 month – Total
ASF Component < 6 month ≥1 year Weighted
Tenor 1 year
Value
Carrying Carrying Carrying Carrying
Value Value Value Value
Cash, marketable securities and other assets
recorded as initial margin in derivative
28 contracts and cash or other assets delivered - - - -
as default fund to the central counterparty
(CCP)
29 NSFR of derivative assets 145,710 - 28,009 173,719
NSFR of derivative liabilities before deduction
30 - - - -
of variation margin
All other assets not included in the above
31 24,724,158 18,867,275 481,628 46,165,040 90,238,101
categories**)
32 Administrative Account 1,498,021 525,400 846,523 2,869,944
33 Total RSF 539,166,390
34 Net Stable Funding Ratio (%) 146.27%
Analysis of the Development of Net Stable Funding Ratio of Bank Only
Analysis
1. Individual NSFR for December 2023 was 146.27% and was still above the required provisions, namely 100%.
2. Individual NSFR for the position in December 2023 compared to the NSFR for the position in September 2023 increased from 145.33%
to 146.27%. In December 2023, there was an increase in Total Available Stable Funding (ASF) of around 7.49%.
3. From the ASF side, the increase in Total Available Stable Funding was dominated by an increase in Total Funding originating from
Corporate Customers with a percentage of 21.73%.
4. There were non-operational deposits and/or other non-operational liabilities originating from Bank Indonesia amounting to IDR7.32 T in
the form of repo transactions and liabilities to BI.
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 581
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2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Table Disclosure of Net Stable Funding Ratio for the Bank Consolidated with Subsidiaries December 2023
Position
Carrying Value Based on Remaining Term (In Million Rupiah)
ASF Component
No Term < 6 Month
Value Value
Listed Listed
1 Capital: 172,478,786 -
2 Capital as CAR POJK 172,470,112 -
3 Other capital components 8,674 -
Deposits from individual customers and funding from
4 330,106,170 39,146,927
micro and small business customers:
5 Stable deposits 226,532,455 519,728
6 Less stable deposits 103,573,715 38,627,199
7 Funding from corporate customers: 136,198,265 46,457,317
8 Operational funding 136,198,265 -
9 Other funding from corporate customers - 46,457,317
10 NSFR for derivative liabilities - -
11 Other Liabilities: 7,530,740 -
12 NSFR for derivative liabilities -
Equity and liability components other than the above
13 7,530,740 -
category
14 Total ASF
15 Total HQLA for the calculation of NSFR - 249,198
Deposits with other financial institutions for operational
16 17,499,153 1,217,543
purposes operations
Loans in Current and Special Mention Category
17 - 60,527,018
(Performing) and marketable securities
18 To financial institutions secured by HQLA Level 1 994,859
To financial institutions secured by non-HQLA Level 1 and
19 - 78,326
unsecured loan to financial institutions
To non-financial institutions, individual customers, and
micro and small business customers, Government of
20 Indonesia, government of other countries, Bank Indonesia, 57,523,811
central banks of other countries, and public sector entities,
including those that:
Meet the qualification for 35% or less risk weighted in
21 4,027,335
accordance with SE OJK on RWA Credit Risk
Loans secured with unpledged residential properties,
22 1,736,122
including those that:
Meet the qualification for 35% or less risk weighted in
23 342,308
accordance with SE OJK on RWA Credit Risk
Marketable Securities not under pledge, not in default, and
24 not classified as HQLA, including shares traded at the stock 193,901
exchange
25 Assets with interdependent liability match - -
26 Other assets: 25,050,997 19,017,403
27 Tradable physical commodities, including gold -
Cash, marketable securities and other assets recorded as
initial margin in derivative contracts and cash or other
28 -
assets delivered as default fund to the central counterparty
(CCP)
29 NSFR of derivative assets 145,710
NSFR of derivative liabilities before deduction of variation
30 -
margin
582 From Local to Global
Page 583
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Carrying Value Based on Remaining Term (In Million Rupiah)
< 6 month - 1 year ≥ 1 year Total
Weighted Value
Value Value
Listed Listed
- - 172,478,786
- - 172,470,112
- - 8,674
25,027,074 1,393,572 395,673,744
31,919 39,780 227,123,882
24,995,155 1,353,793 168,549,862
11,867,158 25,820,110 220,342,850
- - 136,198,265
11,867,158 25,820,110 84,144,585
- - -
218,570 6,711,382 14,460,692
- -
218,570 6,711,382 14,460,692
802,956,073
629,166 13,148,379 14,026,743
- - 18,716,696
124,441,429 234,148,115 419,116,562
- - 994,859
1,976,500 100,635 2,155,461
120,381,033 173,992,232 351,897,076
12,810,189 9,837,888 26,675,412
1,972,236 42,619,429 46,327,787
525,696 9,822,247 10,690,251
111,659,83 17,435,819 17,741,379
- - -
490,078 46,302,761 90,861,238
- - -
- - -
- 28,009 173,719
- - -
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 583
Page 584
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
Carrying Value Based on Remaining Term (In Million Rupiah)
ASF Component
No Term < 6 Month
Value Value
Listed Listed
31 All other assets not included in the above categories**) 25,050,997 18,871,693
32 Administrative Account 1,515,194
33 Total RSF
34 Net Stable Funding Ratio (%)
Qualitative Analysis of Net Stable Funding Ratio for Bank Consolidated with Subsidiaries
Analysis
1. Consolidated NSFR position in December 2023 was 147.16% and was above the required provisions, namely 100%.
2. Consolidated NSFR position in December 2023 compared to NSFR position in September 2023 increased from 146.36% to 147.16%. In
December 2023, there was an increase in Total Available Stable Funding (ASF) of around 7.47%.
3. From the ASF side, the increase in Total Available Stable Funding was dominated by an increase in Total Funding originating from
Corporate Customers of around 21.45%.
4. There are non-operational deposits and/or other non-operational liabilities originating from Bank Indonesia amounting to IDR7.32 T in
the form of repo transactions and liabilities to BI.
584 From Local to Global
Page 585
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Carrying Value Based on Remaining Term (In Million Rupiah)
< 6 month - 1 year ≥ 1 year Total
Weighted Value
Value Value
Listed Listed
490,078 46,274,752 90,687,519
530,380 858,588 2,904,163
545,625,402
147.16%
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 585
Page 586
2023 Management Company Management Discussion and Business Support
Performance Report Profile Analysis on Company Performance Functions
OPERATIONAL RISK EXPOSURE (ORM)
Disclosure of Operational Risks Quantitative for Bank Only 2022-2023
dalam juta rupiah
December 31, 2023 December 31, 2022
Revenue
Internal
The approach Minimum gross
No Business Loss
used Operational revenue Beban
Indicator Multiplier RWA RWA
Risk Capital (average 3 Modal
Components Factor
(MMRO) years last 3
(FPKI)
years)
Approach
1 - - - - 49,599,197 7,439,879 92,998,494
Basic Indicator
Approach
2 4,450,593 0,62853430 2,797,350 34,966,876 - - -
Standard
Disclosure of Operational Risks Quantitative for Bank Consolidated with Subsidiaries 2022-2023
dalam juta rupiah
December 31, 2023 December 31, 2022
Revenue
Internal
The approach Minimum gross
No Business Loss
used Operational revenue Beban
Indicator Multiplier RWA RWA
Risk Capital (average 3 Modal
Components Factor
(MMRO) years last 3
(FPKI)
years)
Approach
1 - - - - 51,500,813 7,725,122 96,564,025
Basic Indicator
Approach
2 4,515,914 0,63376978 2,862,050 35,775,625 - - -
Standard
586 From Local to Global
Page 587
Capital & Risk Management Good Corporate Social & Environmental ESG Financial
Practices Governance Responsibility Commitment Statements
Annual Report 2023 > PT Bank Negara Indonesia (Persero) Tbk 587
Names mentioned 83 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Financial Services Authority
p.3 ×5
unresolved
org
Ministry of SOEs Regulation No. PER-
p.3
unresolved
org
Bank Mayora
p.7 ×4
unresolved
org
PT BNI Life Insurance
p.9 ×2
unresolved
org
PT Bank Mayora. Bank Mayora
p.9
unresolved
org
PT BNI Modal Ventura
p.9
unresolved
org
Indonesia Stock Exchange
p.9 ×5
unresolved
org
Bank BRI
p.9 ×2
unresolved
org
PT Bank BNI Syariah
p.9
unresolved
org
PT Bank Mandiri Syariah
p.9
unresolved
org
Bank BRI Syariah Tbk
p.9 ×2
unresolved
org
Bank Reports Banks Or Other Companies
p.15
unresolved
org
Bank Deposits
p.26 ×2
unresolved
org
HSBC Corp Ltd.
p.31 ×2
unresolved
—
CD BNI January 2023 USD CD - DBS
p.32
unresolved
—
CD BNI March 2023 USD CD - MUFG
p.32
unresolved
—
CD BNI March 2023 USD CD - DBS
p.32
unresolved
—
CD BNI October 2023 USD CD - DBS
p.32
unresolved
—
CD BNI December 2022 USD CD - MUFG
p.32 ×2
unresolved
org
PT BNI In
p.34
unresolved
org
Minister of BUMN Mr. Erick Thohir
p.34
unresolved
person
Erick Thohir
p.34
unresolved
org
Bank Indonesia
p.34 ×10
unresolved
person
Rl Employees
p.35
unresolved
org
Ministry of Tourism and Creative Economy
p.35
unresolved
org
Minister of BUMN Erick Thohir
p.37 ×2
unresolved
org
Indonesian Battery Corporation
p.37
unresolved
org
Minister of BUMN
p.37
unresolved
org
Ministry of BUMN
p.37
unresolved
org
Bank Himbara
p.38
unresolved
org
Bank BSI
p.38
unresolved
person
Ardi Sutedja
p.38
unresolved
org
Ministry of Trade
p.38
unresolved
org
Ministry of Home Affairs
p.39
unresolved
org
Jukuta Togyo Co. Ltd.
p.39
unresolved
org
Seita Corporation
p.39
unresolved
org
Bank ATMs
p.40
unresolved
org
Bank Distributing Social
p.40
unresolved
org
Bank Indonesia’s
p.45 ×4
unresolved
org
Ministry of SOEs
p.45 ×5
unresolved
org
Ministry of SOEs Letter
p.46
unresolved
org
Minister of SOES Letter
p.47
unresolved
org
PT BNI Multifinance
p.62 ×2
unresolved
org
Minister of SOEs Regulation No. PER-
p.65
unresolved
person
EGMS Decision
· President Director
p.67 ×3
unresolved
person
Putrama W.
· Direktur
p.67
unresolved
org
PT BNI Multifinance Total Assets
p.72
unresolved
org
PT BNI Sekuritas IDR
p.72
unresolved
org
BNI Remittance Ltd.
p.72
unresolved
org
PT Bank Hibank Indonesia IDR
p.72
unresolved
org
PT BNI Modal Ventura Issued
p.72
unresolved
person
Palembang
· Corporate Secretary
p.73
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