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Page 1
3Q 2024
FINANCIAL UPDATE
PRESENTATION
PT Bank Rakyat Indonesia (PERSERO) Tbk.
Page 2
SHARE PRICE PERFORMANCE & OWNERSHIP
Ownership Composition as of 3Q24 BBRI Share Performance vs JCI since IPO
No. Description No. of Investor % No. of Shares % Since IPO:
I Domestic 80.0 BBRI +52.1x
JCI +12.1x
1. Government of RI 1 0.00% 80,610,976,876 53.19%
2. Retail 522,939 98.59% 6,152,446,100 4.06% 70.0
3. Employees 3,329 0.63% 10,527,056 0.01% 5,211%
4. Local Government 1 0.00% 1,590,000 0.00% 60.0
5. Bank 11 0.00% 978,223,685 0.65%
(in x)
50.0
6. Cooperatives 21 0.00% 5,501,978,823 3.63%
7. Foundation 47 0.01% 261,265,494 0.17%
40.0
8. Pension Funds 157 0.03% 2,327,878,069 1.54%
9. Insurance 199 0.04% 2,096,585,456 1.38%
30.0
10. Corporations 598 0.11% 378,992,149 0.25%
11. Mutual Funds 324 0.06% 1,773,964,737 1.17%
20.0
Total Domestic 527,627 99.48% 100,094,428,445 66.04% 1,214%
II Foreign
10.0
1. Retail 473 0.09% 42,677,059 0.03%
2. Institutional 2,297 0.43% 51,421,896,100 33.93%
-
2003
2006
2007
2010
2011
2014
2018
2022
2004
2005
2008
2009
2012
2013
2015
2016
2017
2019
2020
2021
2023
Total Foreign 2,770 0.52% 51,464,573,159 33.96%
III Total 530,397 100.00% 151,559,001,604 100.00%
BBRI JCI
Source : Datindo
2
Page 3
TABLE OF CONTENTS
Overview …………..…...…………….………………...…………………………………………………………………………………………………………….……...` 4
Macro Economic Metrics ………………………………………………………………………………………………………………………………………………. 5
Profitability Metrics ……………………………………………………………………………………………………………………………………………………... 6
Key Financial Highlights ………………………………………………………………………………………………………………………………….................... 7
Strengths and Challenges ...………………………………...……………………………………………………………………………………………………........ 8
2024 BRI Group Guidance ………………………………….…………………………………………………………………………………………………..……... 9
3Q24 Financial Performance ……..………………..………………………………………………………………………………………………..…………………… 10
Balance Sheet …………………………………………………………………………………………………………………………………………………….......... 11
Income Statement ………………………...………………………………………………………………………………………………...…………………............. 15
Other Operating Income & Operating Expense ……………………………………..………………………………………………………………………………. 17
Subsidiaries Contribution to BRI Group ……………………………………………………………………………………………………………………………… 20
Loan Quality ……………………………………………………………………………….………………………………………...………………………………………. 21
Ultra Micro & Micro Business ……………………………………………………………………………………………………………………………………………. 27
Appendix:
Digital Initiatives ............................................................................................................................. ............................................................................................ 32
ESG Initiatives ................………………………………………………………………………………………………………………………………………………….. 39
Investment Proposition ……………………………………………………………………………………………………………………………………………………. 50
3Q24 Bank Only Performance …………..………………………………………………………………………………………………………………………............. 58
3Q24 Bank Only Loan Quality …….……………………………………………………………………………………………………………………………………… 70
Others ………………………………………………………………………………………………………………………………………………………………………… 77
3
Page 4
OVERVIEW
4
Page 5
MACRO ECONOMIC METRICS
Inflation Rate and Exchange Rate Improved, Still Cautious on Purchasing Power
Quarterly GDP Growth (% YoY) Foreign Reserves & IDR/USD
8
International Foreign Reserve (USD Bn) USD/IDR
6
5.18 4.96 5.03 5.01 5.04 5.11 5.05
17
000 17
5
4
15,399
16
000
15,573
15,140
16
5
2
14390
15
000
14,120 14,263
13,866 15
0
149.9
14
000
146.4
-2.17 144.9 14
5
-2
13
000
135.9 137.2 140.2
-4
129.2 13
5
12
000
-6 120.7 11
000
12
5
-8 1000 11
5
2018 2019 2020 2021 2022 2023 2Q24 2018 2019 2020 2021 2022 2023 3Q24
Inflation Trend (YoY %) Business Index: MSME vs Wholesale, MA (4)
Headline Core Administered Price Volatile Items Wholesale Business Activity Index MSME Business Activity Index - Adjusted
14 20.0 14.89 14.72
13.01 12.45
15.0 10.59
12 10.33 8.70
10.0
10 5.0
8 6.73 0.0 4.19 5.91
5.7 5.96 5.06 4.63
5.02 1.66
6 4.32 -5.0 (10.28)
2.41 3.05 -10.0
4 1.43
1.72 -15.0
2 1.08 -20.0
1.69 1.40
0 1.39 -25.0 (18.96)
0.56
-2 -30.0
2018 2019 2020 2021 2022 2023 3Q24 1Q20 1Q21 1Q22 1Q23 1Q24 3Q24
5
Page 6
PROFITABILITY METRICS
Strong Metrics Despite Asset Quality
Key Ratios (Consolidated) Quarterly Cost of Credit Consolidated vs Bank Only
PPOP ( ↑ +15.9% QoQ) NIM ( ↑ +0.4% QoQ)
4.00 % 3.83% • PPOP growth remains strong
(Rp Bn) 8.5% at 15.9% QoQ, supported by a
7.7% 7.8% 7.4% 7.8% 3.13% 3.23%
stable NIM despite an elevated
3.50 %
30,747 30,467 4.00 %
28,122 27,328 26,296 3.00 %
3.50 %
2.78% interest rate environment in 2Q &
3.82%
2.50
3.00%
% 2.19% 3Q, and the temporary portfolio
3.17% mix shift from Micro to Corporate.
2.00
2.50%
%
2.94%
2.00%
1.50 %
3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 • Profitability metrics, ROA and
1.50 %
1.00 %
1.88% ROE improved QoQ by 34bps
ROA AT ( ↑ +0.3% QoQ) ROE ( ↑ +1.0% QoQ) 1.00 %
1.37% and 97bps respectively, while
CAR stood at 26.76% in 3Q24.
3.2% 3.4% 3.2% 19.0% 20.4% 20.2% 18.2% 19.2% 5.55%
3.2% 6.00 %
2.8%
5.00 % 4.30%
3.67% • The strong ability to generate
recoveries on written off loans
4.00 %
2.52%
has led to further decline in the
3.00 %
3.00 %
2.07%
2.50%%
2.00
Net CoC, which fell by 49 bps to
3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 1.00
2.00%% 2.47% 0.93% in 3Q24. There was an
0.00 %
1.50 %
increase of 300bps QoQ in
Subsidiary's Gross COC to 5.55%
CAR ( ↑ +1.7% QoQ) Lending Yield ( ↑ +0.4% QoQ) 1.00 %
1.41% 1.42% as PNM frontloaded provisions.
0.50 %
0.93%
27.5% 27.3% 13.6% 13.2% 13.6% 13.0% 13.4%
24.0% 25.1% 26.8% 0.00 %
0.45%
3Q23 4Q23 1Q24 2Q24 3Q24
3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24
6
Page 7
KEY FINANCIAL HIGHLIGHTS
Strong PPOP Growth Helps Us Maintain High Profitability Metrics Despite Asset Quality
Weakness
Consolidated
Description
3Q24 vs 9M24 vs
9M24 9M23 3Q24 2Q24 3Q23
2Q24 9M23
Total Loan & Financing (IDR Bn) 1,353,356 1,250,715 1,353,356 1,336,780 1,250,715 1.2% 8.2%
Micro/ Total Loans 46.4% 47.2% 46.4% 46.6% 47.2% -0.2% -0.8%
Pre-Provision Operating Profit (IDR Bn) 87,510 79,180 30,467 26,296 28,122 15.9% 10.5%
NIM 7.70% 8.12% 7.83% 7.44% 8.51% 0.4% -0.4%
Total CAR 26.76% 27.48% 26.76% 25.13% 27.48% 1.6% -0.7%
CASA % 64.17% 63.64% 64.17% 63.17% 63.64% 1.0% 0.5%
Cost to Income Ratio (CIR) 41.30% 41.28% 42.35% 44.69% 40.34% -2.3% 0.0%
NPL (Gross) 2.90% 3.07% 2.90% 3.05% 3.07% -0.2% -0.2%
Credit Cost 3.39% 2.44% 3.23% 3.13% 2.41%
0.1% 1.0%
Net Credit Cost 1.59% 1.22% 0.93% 1.42% 1.41%
ROA After Tax 3.06% 3.27% 3.10% 2.81% 3.22% 0.3% -0.2%
ROE B/S 19.21% 19.59% 18.86% 18.20% 19.04% 0.7% -0.4%
Leverage 6.0 5.9 6.0 6.3 5.9 -0.3 0.1
Net Profit (IDR Bn) 45,362 44,214 15,466 13,913 14,652 11.2% 2.6%
PATMI (IDR Bn) 45,065 43,993 15,363 13,816 14,565 11.2% 2.4%
In compliance with OJK regulations, our calculation of consolidated financial ratios moved to monthly from quarterly starting in Jan-24. All calculations for 2024 and 2023 are adjusted for monthly data.
7
Page 8
3Q24 STRENGTHS AND CHALLENGES
Key Strengths Key Challenges
❑ Focus on Improving Asset Quality ❑ Cost of Credit Elevated but Recovering Post 1Q24
• Net downgrades to NPL improved QoQ to Rp9.2Tn from Rp9.9Tn, led by the • Gross cost of credit at 3Q24 was 3.39%, down from 3.48% in 1H24.
micro segment improving to Rp5.3Tn from Rp 5.9Tn in the prior quarter. Albeit cost of credit trend has been moderating, this figure remains
above our FY24 guidance, as we front-loaded provision for the micro
• Recovery income continues to accelerate, rising 36.1% QoQ to Rp7.7Tn from and small business portfolios, especially restructuring loans to curb the
Rp5.7Tn. impact of potential deterioration.
• Tightening of lending criteria led to Consolidated Micro loan growth slowing • Adjusting for the provision overlay, our cost of credit at 9M24 was
to 0.85% QoQ, compared to 2.2% in 3Q23, and recent vintage analysis 2.97% (Bank Only), in line with our target. More importantly, net cost of
reflects improved 2024 performance. credit in 3Q24 decreased further to 0.93%. We would note that the
benefit we anticipated from our subsidiaries is unlikely to materialize.
Loan growth, failure to meet restructuring target, and delays in
❑ Strong PPOP Growth modification losses would impact this.
• Efficient liabilities management resulted in a stable COF of 3.69% as the
LDR strategically increased to 89.2%. • BRI still maintains ample NPL Coverage at 215.4% and our Loan Loss
Reserve is 6.2%, well above the pre-covid level of below 4.5%.
• High Recovery income supported revenue growth as non-interest income
increased by 26.6% QoQ. ❑ Cost of Funds Remain Manageable
• We anticipate CoF to remain flat through year end before seeing
• Opex remains well controlled with Consolidated CIR decreased QoQ to improvements in 2025 if rates continue to decline. 3Q24 CoF improved
42.4% from 44.7% and standing at 41.3% in 9M24, in line with our guidance on QoQ basis, but we need to see further improvement in liquidity
for 2024. condition in the system to obtain full benefit of falling rates trend.
However, the decrease in weekly SRBI auctions and yields and signs
of expansionary monetary policy could improve liquidity.
❑ Capital Remains Strong & DPO Likely to Increase YoY
• While Tier 1 CAR stands at 26.77%, we remain able to achieve a ROE of • CASA increased by 100bps to 64.17% at 3Q24 compared to 2Q24,
19.2%. Furthermore, BRI maintains ample provisions to loans at 6.2%. Both following the liabilities optimization strategy. Time deposit balances
implying an opportunity to support a higher dividend payout ratio in 2024. decrease by 4.61% QoQ.
8
Page 9
2024 BRI GROUP GUIDANCE
2023 Actual 2024 Guidance 9M24 Actual
Loan Growth 11.2% 10% - 12% 8.2%
(YoY)
NIM 7.95% 7.6% - 8.0% 7.70%
Credit Cost 2.37% Max. 3% 3.39%
NPL 2.95% < 3% 2.90%
41.89% 41% - 42% 41.30%
CIR (Consolidated) (Consolidated) (Consolidated)
9
Page 10
FINANCIAL PERFORMANCE
10
Page 11
BALANCE SHEET
Time Deposits declined by 4.6% QoQ as part of Balance Sheet Optimization
(Rp Bn)
Items 9M24 1H24 9M23 g QoQ g YoY 2023 2022 2021
Cash and Cash Equivalent 91,238 102,002 116,215 -10.6% -21.5% 133,513 178,343 82,727
Total Earning Assets: 1,829,629 1,828,206 1,699,744 0.1% 7.6% 1,791,006 1,665,968 1,588,914
- Placement with BI & Other Banks 108,716 47,065 39,873 131.0% 172.7% 87,557 91,890 73,048
- Receivables (Acceptance & Others) 54,719 87,478 68,292 -37.4% -19.9% 65,024 47,146 39,949
- Loans & Financing 1,353,356 1,336,780 1,250,715 1.2% 8.2% 1,266,429 1,139,077 1,042,867
- Gov't Bonds & Marketable Securities 305,123 349,490 333,937 -12.7% -8.6% 364,687 381,339 426,964
- Other Earning Assets 7,715 7,393 6,927 4.4% 11.4% 7,308 6,515 6,086
Earning Asset Provision: (86,092) (87,743) (91,187) -1.9% -5.6% (88,172) (94,975) (89,821)
- Loans and Financing Provisions (84,504) (86,415) (87,871) -2.2% -3.8% (85,502) (93,088) (87,829)
- Other Provisions (1,588) (1,328) (3,316) 19.5% -52.1% (2,670) (1,887) (1,991)
Fixed & Non-Earning Assets 127,141 134,907 127,193 -5.8% 0.0% 128,660 116,303 96,278
Total Assets 1,961,916 1,977,371 1,851,965 -0.8% 5.9% 1,965,007 1,865,639 1,678,098
Third Party Funds : 1,362,419 1,389,662 1,290,286 -2.0% 5.6% 1,358,329 1,307,884 1,138,743
- CASA 874,231 877,895 821,135 -0.4% 6.5% 874,070 872,404 718,267
Current Account 349,490 356,855 314,710 -2.1% 11.1% 346,124 349,756 220,590
Savings Account 524,741 521,041 506,426 0.7% 3.6% 527,946 522,648 497,677
- Time Deposits 488,188 511,767 469,151 -4.6% 4.1% 484,259 435,481 420,476
Other Interest-Bearing Liabilities 179,105 186,567 156,973 -4.0% 14.1% 180,023 162,817 167,005
Non-Interest-Bearing Liabilities 90,920 89,412 93,171 1.7% -2.4% 110,184 91,543 80,563
Total Liabilities 1,632,443 1,665,641 1,540,431 -2.0% 6.0% 1,648,535 1,562,244 1,386,311
Tier 1 Capital 296,281 279,459 280,082 6.0% 5.8% 283,949 273,812 266,166
Total Equity 329,473 311,731 311,534 5.7% 5.8% 316,472 303,395 291,787
Total Liabilities & Equity 1,961,916 1,977,371 1,851,965 -0.8% 5.9% 1,965,007 1,865,639 1,678,098
*Financial figures for 2021 is restated to include Pegadaian and PNM in accordance with PSAK 38 11
Page 12
LOANS & FINANCING PORTFOLIO
Loan growth impacted by Corporate high base effect, 4Q24 Likely to Pick up
Loan Outstanding – by business segment (Rp Tn) Composition – by business segment (%)
12
00. %
1,600
.0 1,600
.0
1,400
.0
1,336.8 1,353.4 1,400
.0
100. %
1,266.4 1,250.7 16.1% 16.1% 15.3% 15.6% 18.0% 16.9% 18.3%
21.2%
1,200
.0 1,139.1 241.1 247.7 1,200
.0
197.7 3.3% 2.7% 2.4% 2.9% 2.7%
1,042.9 211.8 80
.0
%
3.1% 3.1%
1,020.2 41.5 42.0 2.4%
173.8 36.3 33.7 19.2% 18.3%
1,000
.0
903.2
1,000
.0
20.4% 17.4% 18.4% 17.2%
168.3 27.8 232.2 24.0%
164.7 231.2 232.3
27.8 229.8 26.8%
33.5
60
.0
%
191.1 218.6
15.0%
800
.0 800
.0
14.4% 14.7% 14.9% 14.8% 15.0%
212.5 198.8 203.1
21.5 244.6 190.0 184.6 14.2%
167.6
15.6%
600
.0 600
.0
242.3 150.4 40
.0
%
144.8
400
.0 400
.0
140.5
623.0 628.3 46.4% 48.4% 48.3% 46.6% 47.2% 46.4%
551.3 611.2 590.7 20
.0
%
42.4%
200
.0
432.5 483.9 200
.0
34.1%
307.7
- -
0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Micro Consumer Small Medium Corporate Total
YoY Growth ( % ) 6.4 10.0 1.1 24.6 16.9 8.2
(Rp Tn) 37.6 18.5 2.4 8.3 35.8 102.6
Recently, Bank Raya shifted portion of its Small Segment loans to Micro Segment amounting to Rp730 bn. If we adjust the Ultra Micro loans outstanding, it will impact loan growth by 20bps 12
Page 13
STRONG DEPOSIT GROWTH
CASA Improved QoQ by 100bps, Savings Beginning to Grow
Deposit Growth (Rp Tn) Deposit Products per Segment* (Rp Tn)
1,600
.0
Total Deposit: 5.6% YoY Total Deposits 9M24: Rp1,384.4 Tn
CASA: 6.5% YoY Growth YoY
1,389.7 Micro Savings Time Deposit
1,400
.0 1,358.3 1,362.4 90
.0
%
367.7 373.5 366.9 358.0 371.5
1,307.9 1,290.3 400
.0
335.4 356.3 3.7%
350
.0
296.6 43.5 48.5 51.1 46.6 52.3
45.1 43.4
300
.0
12.3%
250
.0
45.7
1,200
.0
1,120.9 1,138.7 4.1% 200
.0
2.5%
80
.0
%
312.9 324.1 325.0 315.7 311.5 319.2
250.9 290.3
150
.0
511.8 488.2 YoY
484.3 100
.0
1,021.2 435.5 50.0
469.2 -
1,000
.0
2019 2020 2021 2022 2023 1H24 9M23 9M24
420.5 70
.0
%
Retail
452.1 Demand Deposit Savings Time Deposit
66.7% 7.4%
431.9 64.3% 509.6 474.0 509.0
469.1 488.1
600
.0
64.2%
800
.0
63.1% 63.2% 63.6%
412.6
374.6 410.6
500
.0
3.6% 7.7%
59.7% 180.0 197.4 210.4 192.3 207.2
60
.0
%
400
.0
YoY 154.7
57.7%
521.0
300
.0
155.2 170.5
600
.0
522.6 527.9 524.7 5.5%
198.4 202.7 205.3 194.9 205.6
200
.0
506.4 154.7 170.0 183.3
100
.0
64.7 70.1 74.6 90.7 88.1 93.8 86.8 96.2 10.8%
497.7 50
.0
% -
400
.0
476.1 2019 2020 2021 2022 2023 1H24 9M23 9M24
414.3
Wholesale Demand Deposit Time Deposit Total
11.1% 5.1%
508.0
464.0 491.1
600
.0
453.9 477.1
40
.0
%
200
.0
YoY
349.8 356.9 349.5
500
.0
346.1 314.7 359.0
298.6 306.6 -1.2%
206.7 233.7 244.7
400
.0
174.9 192.7 220.6 300
.0
226.5 223.8
215.8
- 30
.0
%
200
.0
196.7 195.0
100
.0 257.3 257.4 263.3 227.4 253.3 11.4%
2019 2020 2021 2022 2023 1H24 9M23 9M24 -
101.9 111.7 143.2
Demand Deposit Savings Time Deposit CASA 2019 2020 2021 2022 2023 1H24 9M23 9M24
*Data is presented in Bank Only 13
Page 14
WELL CAPITALIZED BALANCE SHEET PROVIDES FLEXIBILITY
CAR at 26.77% is Second Highest Among Top 10 Banks
40
. 0% 25
. 0%
19.80% 19.23% 19.21%
17.34% 17.63% 20
. 0%
35
. 0%
15
. 0%
12.23%
10.52%
30
. 0%
10
. 0%
27.16% 27.27% 26.76%
25.54% 25.13% 5.0%
0
25
. 0%
26.16% 26.12% 25.65%
22.77%
24.53% 24.02% 0.0%
0
20.14%
20
. 0% 21.65%
-50. 0%
19.06%
DPO DPO -10.0%
0
DPO
15
. 0%
REGULATORY
REQUIREMENT 85% 85%
~80%
DPO -15.0%
0
14.63% 10
. 0%
DPO 65% 2.5% Capital
Normal condition Conservation Buffer
60% -20.00
%
2.5% Capital Surcharge
on Systemic Bank
5.0%
0 -25.0%
0
2019 2020 2021 2022 2023 1H24 9M24 9.63% CAR based on
Risk Profile
Tier 1 CAR Tier 2 CAR Total CAR ROE B/S
Leverage (x) 6.8 7.0 5.8 6.1 6.2 6.3 6.0
• As of Jan ’23, as part of the implementation of Basel 3, the change on RWA of Operational & Credit Risk adds 329bps to BRI total CAR
• BRI distributed full year dividend of Rp319 per share paid on 28 March 2024 (including interim dividend of Rp84 per share)
*In compliance with OJK regulations, our calculation of consolidated financial ratios moved to monthly from quarterly starting in Jan-24. All calculations for 2024 and 2023 are adjusted for monthly data. 14
Page 15
INCOME STATEMENT
Pre-Provision Operating Profit (PPOP) up 10.5% YoY, Supported by Recovery Income
(Rp Bn)
Items 3Q24 2Q24 3Q23 g QoQ g YoY 9M24 9M23 g YoY
Interest Income 50,145 48,572 46,302 3.2% 8.3% 148,792 131,893 12.8%
Interest Expense (14,317) (14,596) (10,646) -1.9% 34.5% (43,036) (30,696) 40.2%
Net Interest Income 35,827 33,977 35,656 5.4% 0.5% 105,756 101,197 4.5%
Net Premium Income 537 896 931 -40.1% -42.4% 1,995 1,819 9.7%
Other Operating Income (Non-Interest) - incld. Gold 16,042 12,668 10,550 26.6% 52.1% 41,332 31,837 29.8%
Total Operating Expenses (21,939) (21,245) (19,016) 3.3% 15.4% (61,574) (55,673) 10.6%
Personnel Expenses (10,268) (10,869) (10,633) -5.5% -3.4% (30,900) (29,495) 4.8%
G&A Expenses (7,555) (7,357) (6,890) 2.7% 9.7% (21,830) (20,423) 6.9%
Other Expenses (4,116) (3,019) (1,492) 36.3% 175.8% (8,844) (5,755) 53.7%
Pre-Provision Operating Profit 30,467 26,296 28,122 15.9% 8.3% 87,510 79,180 10.5%
Provision Expenses (10,967) (7,784) (9,157) 40.9% 19.8% (29,464) (22,979) 28.2%
Loan - Provision Exp (10,859) (10,393) (8,571) 4.5% 26.7% (33,588) (21,795) 54.1%
Non-Loan - Provision Exp (108) 2,609 (586) 104.1% 81.5% 4,124 (1,184) -448.4%
Profit From Operations 19,500 18,511 18,964 5.3% 2.8% 58,045 56,201 3.3%
Non-Operating Income 39 13 (446) 186.2% 108.6% (57) (483) -88.2%
Net Income Before Tax 19,539 18,525 18,518 5.5% 5.5% 57,988 55,719 4.1%
Net Profit 15,466 13,914 14,652 11.2% 5.6% 45,362 44,214 2.6%
Profit After Tax & Minority Interest (PATMI) 15,363 13,816 14,565 11.2% 5.5% 45,065 43,993 2.4%
15
Page 16
EARNING ASSET YIELD & MARGINS REMAIN ELEVATED
EA Yield Remains Steady, Cost of Funds is the Driver of YoY NIM contraction
NIM – Bank Only vs Consolidated Lending Yield, EA Yield, and Cost of Fund
16
.0
%
8.5%
7.9% 8.0% 7.5%
7.0%
8.0%
7.7% 7.6% 7.7% 12.3%
14
.0
%
12.5% 12.5% 12.3% 13.1% 13.3% 13.3%
7.0%
7.5%
12
.0
%
6.9%
7.0%
10.8%
6.9% 6.8% 6.8% 6.5%
10
.0
%
10.8%
6.5%
10.1% 10.6%
8.0%
10.0% 9.5% 9.6%
6.0% 6.7% 6.4% 6.5%6.0%
6.0%
5.5%
3.7% 3.6% 3.7%
6.0% 2.3% 3.1%
2.1%
4.0%
5.0%
5.5%
3.5%
2.0%
4.5%
4.0% 5.0% 0.0%
2019 2020 2021 2022 2023 1H24 9M24 2019 2020 2021 2022 2023 1H24 9M24
NIM - Consol. NIM - Bank Only Loan Yield Earning Asset Yield CoF
40.0
40.0
37.5
35.8
Loan & Financing to Total EA and LDR
35.0
35.0
34.0
30.0
31.1
28.1
10.0%
88.45% 88.51% 86.59% 89.18%
30.0
84.77% 84.22%
27.9
90
.0
%
78.82%
25.0
26.1 26.6 80
.0
%
25.0
70
.0
%
21.1 60
.0
%
20.0
20.0
21.9 21.6 50
.0
%
20.2 40
.0
%
30
.0
%
69.6% 67.5% 65.6% 68.4% 70.7% 73.1% 74.0%
15.0
15.0
20
.0
%
10
.0
%
0.0%
10.0
2019 2020 2021 2022 2023 9M24 2019 2020 2021 2022 2023 1H24 9M24
Quarter NII - Consol (IDR Tn) Quarter NII - Bank Only (IDR Tn) % Loan & Financing to Total EA LDR - Consol. (Bank Entity)
*In compliance with OJK regulations, our calculation of consolidated financial ratios moved to monthly from quarterly starting in Jan-24. All calculations for 2024 and 2023 are adjusted for monthly data. 16
Page 17
OTHER OPERATING INCOME & OPERATING EXPENSES
Recoveries Support Non-Interest Income, Core OpEx Growth In Line With Guidance
Other Operating Income
(Rp Bn)
Items 3Q24 2Q24 3Q23 g QoQ g YoY 9M24 9M23 g YoY
Fees and Commissions 5,898 5,829 5,337 1.2% 10.5% 17,158 15,560 10.3%
Recovery of Written-Off Assets 7,746 5,692 4,214 36.1% 83.8% 17,828 10,912 63.4%
Gain on Sale of Securities - Net 676 472 486 43.3% 39.1% 1,607 1,466 9.7%
Gain on Foreign Exchange - Net 371 208 56 78.1% 566.3% 826 292 182.9%
Unrealized Gain on Changes in Fair Value of Securities 193 (147) (69) 231.1% 377.9% 193 222 -13.1%
Others 702 615 459 14.1% 52.7% 3,263 3,160 3.3%
Total Other Operating Income 15,585 12,668 10,483 23.0% 48.7% 40,875 31,612 29.3%
Operating Expenses
(Rp Bn)
Items 3Q24 2Q24 3Q23 g QoQ g YoY 9M24 9M23 g YoY
Salaries and Employee Benefits 10,268 10,869 10,633 -5.5% -3.4% 30,900 29,495 4.8%
General and Administrative 7,555 7,357 6,890 2.7% 9.7% 21,830 20,423 6.9%
Others 4,116 3,019 1,492 36.3% 175.8% 8,844 5,755 53.7%
Total Operating Expense 21,939 21,245 19,016 3.3% 15.4% 61,574 55,673 10.6%
17
Page 18
FEE & OTHER OPERATING INCOME
Trade Finance & E-Channel Fees Supporting 10.5% YoY Fee & Commission Growth
Consolidated - Other Operating Income (Rp Tn) Bank Only - Fee and Commission – Composition (Rp Bn)
YoY g = 29.8% 9M23 g YoY = 10.5% 9M24
841
939
50.0 768 812 5%
384 5% 5% 6%
45.9 502
3% 3%
45.0
3,492 Deposit Admin.
41.3 3,560 21%
39.1 8.4 E-Channel
40.0
24%
2,016 2,446 Loan Admin.
6.3
34.7 13% 15%
35.0
7.9 Trade Finance & IB
31.0 31.8
Non E-Channel
28.4 1,903 1,759
30.0
8.6
16.8 5.4 13% 10% Insurance
25.3 5,693 6,749
7.5 40%
17.8 38% Others
25.0
6.9 12.5
3.9
9.0 10.9
7.3
20.0
7.1
15.0
10.1 Bank Only - Fee and Commission YoY Growth
30.5%
35
.0
%
10.0
20.7
17.1 18.8 17.2
16.2
30
.0
%
14.5 15.6
21.3% 22.2%
11.3
25
.0
%
5.0
20
.0
%
18.5%
15
.0
%
-
10
.0
%
2019 2020 2021 2022 2023 1H24 9M23 9M24 5.0%
3.6%
-1.9%
Fees and Commissions Recovery of Written-Off Assets Others 0.0%
-50. %
-7.5%
-10.0%
• Other Operating Income growth driven by Fee Based Income and Deposit
Admin.
E-Channel Loan Admin. Trade
Finance & IB
Non E-
Channel
Insurance Others
Recovery Income
18
Page 19
OPERATING EXPENSE BREAKDOWN
Core Cost Management remains well controlled, Subsidiaries Efficiency Improving
(Rp Bn)
Items 3Q24 2Q24 3Q23 g QoQ g YoY 9M24 9M23 g YoY
Bank Only - Personnel Expenses 7,251 8,152 7,648 -11.1% -5.2% 22,239 21,180 5.0%
Bank Only - G&A Expenses 5,622 5,258 4,831 6.9% 16.4% 15,966 14,841 7.6%
Bank Only - Other Expenses 3,831 2,670 1,150 43.5% 233.0% 7,944 5,185 53.2%
Bank-Only Operating Expense 16,704 16,080 13,629 3.9% 22.6% 46,148 41,207 12.0%
Subsidiaries - Personnel Expenses 3,017 2,718 2,985 11.0% 1.1% 8,662 8,314 4.2%
Subsidiaries - G&A Expenses 1,933 2,099 2,059 -7.9% -6.1% 5,864 5,582 5.0%
Subsidiaries - Other Expenses 285 349 342 -18.3% -16.6% 900 570 57.9%
Subsidiaries Operating Expense 5,235 5,166 5,387 1.3% -2.8% 15,425 14,466 6.6%
Consolidated - Personnel Expenses 10,268 10,869 10,633 -5.5% -3.4% 30,900 29,495 4.8%
Consolidated - G&A Expenses 7,555 7,357 6,890 2.7% 9.7% 21,830 20,423 6.9%
Consolidated - Other Expenses 4,116 3,019 1,492 36.3% 175.8% 8,844 5,755 53.7%
Consolidated Operating Expense 21,939 21,245 19,016 3.3% 15.4% 61,574 55,673 10.6%
Cost to Income Ratio: Bank Only vs Consolidated* Cost to Asset Ratio: Bank Only vs Consolidated*
55
.0
%
4.50
%
50.9% 4.19% 4.15% 4.18%
48.6% 3.98% 4.01%
50
.0
%
47.4% 3.91%
4.0%
0
45
.0
%
41.9% 41.0% 41.3%
40.5% 45.4%
3.5%
0
3.17%
40
.0
%
43.3% 3.48%
42.0% 3.40%
40.0% 3.0%
0
3.26% 3.23% 3.21%
35
.0
%
37.7% 37.5% 37.6% 3.11% 3.11%
2.5%
0
30
.0
%
25
.0
% 2.0%
0
2019 2020 2021 2022 2023 1H24 9M24 2019 2020 2021 2022 2023 1H24 9M24
BRI Consolidated BRI Consolidated
*Since 2021, Other Operating Income includes net gold revenue 19
Page 20
SUBSIDIARIES CONTRIBUTION TO BRI GROUP
Subsidiaries Contribute 14.2% to Consolidated Net Profit
Loan & Financing
BRI Subsidiaries BRI Ownership Total Asset 9M24 Assets (Rp Tn) (Rp Tn) Net Profit (Rp Tn)
14.6% YoY 212.6 17.3% YoY 145.5 23.0% YoY
6.4
Market Leader in General Insurance Provider 5.2
185.4 124.1
Pawn Industry (property, vehicle, etc)
99.99% 99.8 Tn 90.00% 7.6 Tn
9M23 9M24 9M23 9M24 9M23 9M24
National Leader in
Community Based
Lending
99.99% 54.5 Tn 99.97% 2.4 Tn
% to Total
Subsidiaries
Assets
51.00% 25.6 Tn 67.00% 1.2 Tn
Digital Bank focused
in MSME especially
gig economy
86.85% 12.9 Tn 65.00% 301 Bn % to Total
Subsidiaries
Net Profit
99.88% 8.2 Tn 100% 35 Bn
20
Page 21
LOAN QUALITY
21
Page 22
LOAN QUALITY
QoQ NPL Ratio Improved by 15bps to 2.9% Led by Small & Corporate
Non-Performing Loan – by Segment Special Mention – by Segment
Segment 9M24 9M23 1H24 2023 2022 2021 2020 2019 Segment 9M24 9M23 1H24 2023 2022 2021 2020 2019
Micro 3.03% 2.41% 2.95% 2.47% 1.74% 1.49% 0.83% 1.18% Micro 6.82% 6.56% 6.87% 5.72% 3.95% 3.03% 2.47% 3.51%
Consumer 2.08% 2.10% 2.13% 1.97% 1.83% 1.78% 1.49% 1.10% Consumer 2.92% 3.61% 2.77% 2.84% 2.76% 2.20% 2.69% 2.52%
Small 4.64% 4.58% 5.05% 4.88% 4.30% 4.05% 3.61% 3.17% Small 5.89% 6.06% 5.98% 5.15% 4.30% 3.42% 3.19% 4.63%
Medium 1.94% 2.16% 1.75% 2.56% 2.26% 3.57% 4.61% 5.38% Medium 4.18% 1.43% 2.72% 2.52% 2.55% 3.08% 3.07% 2.97%
Corporate 2.52% 4.66% 3.07% 3.86% 4.68% 6.68% 7.57% 5.18% Corporate 3.84% 4.88% 4.11% 4.67% 4.32% 6.94% 2.85% 5.04%
Bank Only - Bank Only -
3.04% 3.23% 3.21% 3.12% 2.82% 3.08% 2.94% 2.62% 5.30% 5.53% 5.35% 4.87% 3.87% 3.70% 2.75% 3.93%
NPL% SML%
Subsidiaries - Subsidiaries -
1.64% 1.43% 1.49% 1.20% 1.24% 2.08% 2.49% 5.89% 7.86% 7.27% 5.51% 4.84% 3.90% 4.68% 6.00% 4.41%
NPL% SML%
Consolidated - Consolidated -
2.90% 3.07% 3.05% 2.95% 2.67% 3.00% 2.88% 2.80% 5.56% 5.74% 5.41% 4.90% 3.90% 3.81% 3.13% 3.97%
NPL % SML %
22
Page 23
HISTORICAL NPL & LAR DATA
NPL Coverage Increased As Stock of NPL Declined; LAR Continues to Improve
NPL & NPL Coverage LAR & LAR Coverage
35
00. 0%
LAR % LAR Coverage
305.73%
70
. 0%
300. 0% 281.16%
60
. 0%
54.14% 53.86% 53.56%
25
00. 0%
239.20% 229.09% 49.40%
211.60% 215.44% 50
. 0% 44.65%
36.14%
154.09%
200. 0% 40
. 0%
160
.0 25.77%
30
. 0%
15
00. 0%
3.00
% 20
. 0%
140
.0
28.26%
3.05% 23.31%
3.00%
100. 0%
2.88% 2.95% 2.90%
10
. 0%
16.54%
120
.0 2.80% 12.47% 12.00% 11.66%
50
. 0%
2.67%
2.5%
0
300
.0
0.0%
0
9.78%
100
.0
0.0%
0
93.1 248.9 243.0
87.8 85.5 86.4 84.5
2.0%
0 250
.0
80.0
70.4 200
.0
188.4
1.5%
0
157.9 160.4 157.8
172.1
60.0
150
.0
198.8
113.6 58.5 47.3 43.3
39.2
1.0%
0
40.0
100
.0 84.1
0.5%
0 27.7 62.1 72.3 75.3
20.0
37.3 40.8 39.2 50.0
39.7 44.4
25.4 29.4 31.2 30.4 33.8 24.3
25.9 31.2 30.4 37.3 40.8 39.2
- 0.0%
0 -
22.5
2019 2020 2021 2022 2023 1H24 9M24 2019 2020 2021 2022 2023 1H24 9M24
Provision (Rp Tn) NPL (Rp Tn) NPL % NPL Coverage NPL (Rp Tn) SML (Rp Tn) Restruct. - Current Coll. (Rp Tn)
Since 2021, LAR and LAR Coverage are presented in consolidated number 23
Page 24
CREDIT COST, WRITE OFF, AND RECOVERY
Net CoC in 3Q24 Decreased to 0.93% Supported by Strong Recoveries
Credit Cost
80.0 5.0%
0
Write Off & Recovery
70.0 4.0%
0
3.48% 3.58% 3.48% 3.39%
3.13% 3.23%
2.61%
60.0 3.0%
0
2.55%
2.37% 55
.0 70
.0
%
2.71% 2.70% 62.9%
50.0 2.0%
0
55.7%
60
.0
%
45
.0
1.93% 53.2% 52.7%
1.80% 50.8% 50.6%
1.59% 49.5%
40.0
1.41% 1.42% 1.0%
0
47.5% 50
.0
%
0.99% 0.93%
35
.0
36.6 40.4%
34.0 33.5
30.0
32.8 33.6 0.0%
0
40
.0
%
27.6 27.9 28.8 25
.0
25.5 30
.0
%
20.0
22.8 22.7 -10. 0%
22.4 21.2
15
.0
17.5 17.8 16.8 17.8
15.7 15.4 15.8 14.3
20
.0
%
10.0
11.9 12.6 -20. 0%
12.5 12.3
10.4 10.9 10.1 10.8
9.0
5.0
7.1 7.3 7.7
5.7
10
.0
%
4.7 3.1
- -30. 0%
2019 2020 2021 2022 2023 1H24 9M24 2Q24 3Q24 2019 2020 2021 2022 2023 1H24 9M24 2Q24 3Q24
-50. 0.0%
Provision Exp. - Loan (Rp Tn) Provision Exp. - Net - Loan (Rp Tn) Write-Off (Rp Tn) Recovery Income (Rp Tn) Recovery Rate
CoC % Coc Net %
*In compliance with OJK regulations, our calculation of consolidated financial ratios moved to monthly from quarterly starting in Jan-24. All calculations for 2024 and 2023 are adjusted for monthly data. 24
Page 25
COVID-19 RESTRUCTURED LOAN – BANK ONLY (1/2)
Covid Restructured Loans Outstanding and Borrowers Continues to Decline
Outstanding (Rp Tn) Covid-19 Restructured Loan Movement (Rp Tn)
35.0
22.1% 21.2% 25
.0
%
19
00.
16.6% 20
.0
% 34.0
193.7 186.6 15
.0
%
14
00.
10.4%
157.0 10
.0
%
33.0
4.8% 3.5%
90
.0 2.6% 2.1% 5.0%
107.2
32.0
0.0%
40
.0
4.6 54.5 25.9
-2.6 -0.1 -4.0 41.5 31.8
-50. %
0.9
-8.4 -4.0 -4.0 -5.9 31.0
-10.0 -10.0%
9M20 2020 2021 2022 2023 1Q24 1H24 9M24
Total Monthly % to Total Loan 30.0
# Borrowers (in Mn) 3.1
29.0
3.5
24.7% 30
.0
%
31.8
21.6%
30.9
28.0
3.0
14.0% 20
.0
%
2.5
3.0 7.7%
2.8
2.0
3.2% 2.3% 1.8% 1.3%
10
.0
%
27.0
1.8
1.5 2.1 1.2 0.0%
27.8
1.0
0.5 -10.0%
26.0
0.5
0.3 0.3
-0.0 -0.1 -0.1 -0.1 0.2 25.9 25.9
0.0
-0.1 -0.1 -0.0 -0.0
-20.0%
25.0
9M20 2020 2021 2022 2023 1Q24 1H24 9M24
-05. -30.0%
Restru OS - 1H24 Payment Restru Unflagged Write Off Restru OS -
1H24
Total Monthly % to Total Borrowers
25
Page 26
COVID-19 RESTRUCTURED LOAN – BANK ONLY (2/2)
OS by Segment (Rp Tn) Covid-19 Restructured Loans by Stage
12
00. %
200
.0 186.6 190
.0
180
.0
8.4 157.0 170
.0
1.3% 5.3%
25.9 100. %
3.0%
5.1 8.6%
160
.0 150
.0
7.5% 17.8%
140
.0
19.4 130
.0
8.6 80
.0
%
34.8% 35.9%
82.4 3.9 107.2
120
.0 110
.0
0.8 60
.0
%
100
.0
67.6 19.4
90.0
10.5 2.6 54.5 95.7% 91.4%
80.0 70.0
9.1 40
.0
% 87.1% 82.2%
8.4 45.1 31.8 65.2% 64.1%
60.0 50.0
14.2 25.9
80.2 2.4
6.5
40.0 30.0
20
.0
%
57.7 21.2
33.7
20.0 10.0
-
13.7 -10.0
5.1 0.0%
2020 2021 2022 2023 1H24 9M24 2020 2021 2022 2023 1H24 9M24
Micro Consumer Small Medium Corporate Stage 1 Stage 2 Stage 3
Covid-19 Restructured Loans by Collectability Covid-19 Loan Provisioning
12
0.0% 50.0 50
.0
%
36.7% 34.1%
100. %
1.3% 5.3%
45.0
33.4% 40
.0
%
5.5% 8.6% 40.0
25.3%
10.4% 17.8% 30
.0
%
80
.0
% 16.7% 34.8% 35.9%
35.0
17.7%
20
.0
%
30.0
30.9% 7.3%
60
.0
% 25.0 10
.0
%
24.5% 24.8%
93.2%
20.0
0.0%
40
.0
%
84.2%
74.7% 15.0
27.8 27.1 -10.0%
51.3% 10.0
20.0
20
.0
%
40.7% 39.3% 13.6 -20.0%
5.0
10.6 8.8
0.0% - -30.0%
2020 2021 2022 2023 1H24 9M24 2020 2021 2022 2023 1H24 9M24
Current SML NPL Provision (IDR Tn) Loan Coverage
26
Page 27
ULTRA MICRO &
MICRO BUSINESS
27
Page 28
THE ULTRA MICRO ECOSYSTEM
Pegadaian and PNM Loans Up 18.8% YoY to Rp628.3 Trillion
Loan Composition - Outstanding (Rp Tn) # Borrowers (in Mn)
BRI Micro Pegadaian PNM 6.2% YoY BRI Micro Pegadaian PNM Total -1.1% YoY
627.6 36.9 36.1 36.5 36.1
611.2 622.3 35.3
590.7 7.9% -1.9%
551.3 47.1 49.2 48.8 31.0
45.3
483.9 42.6 67.6 77.0 83.0
65.6 26.5% 14.0 15.2 15.0 14.9 14.6
34.5 59.1
11.2
52.4
7.0 7.7 7.7 7.4 8.2 11.4%
3.3% 6.6
496.6 496.2 479.9 495.8
449.6
397.0
351.4
13.3 14.4 14.0 13.4 14.2 13.3 -6.8%
11.7
2020 2021 2022 2023 1H24 9M23 9M24 2020 2021 2022 2023 1H24 9M23 9M24
Key Ratios
BRI Pegadaian PNM
Description
9M21* 1H23 9M23 1H24 9M24 9M21 1H23 9M23 1H24 9M24 9M21 1H23 9M23 1H24 9M24
Cost of Fund 2.1% 2.7% 2.7% 3.6% 3.6% 6.2% 5.8% 5.8% 6.1% 6.2% 8.7% 6.9% 7.0% 6.5% 6.5%
Credit Cost 3.8% 2.3% 2.5% 3.5% 3.3% 1.7% 1.7% 1.1% 0.8% 1.5% 1.3% 3.0% 3.3% 6.1% 7.6%
CIR 42.1% 39.0% 37.6% 37.5% 37.6% 63.0% 55.5% 56.1% 52.3% 50.5% 76.7% 71.0% 70.2% 60.1% 59.6%
Pegadaian & PNM joined BRI Group as part of the Ultra Micro Holding in September 2021
Pegadaian, PNM’s Cost Of Fund (COF) calculated by dividing annualized interest expense with average monthly Interest-Bearing Liabilities
PNM’s financing outstanding include financing disbursed to LKMS (Syariah Micro Financing Institution) and venture capital 28
Page 29
BRI MICRO BUSINESS PERFORMANCE
Slower Loan Growth To Focus On Asset Quality
Micro Loan Outstanding (Rp Tn) # Borrowers (in Mn) # Borrowers per Loan Officer
60
528 519
600. 57
50. 16
.0 15
.0
496.6 496.2 495.8 14.4 14.0 14.2 493 499 486
479.9 13.3 13.4 13.3 488
449.6 14
.0
0.6 0.5 0.6 13
.0 50
0.5
500. 47
50.
11.7 0.7 0.5 430
397.0 64.3 61.2 60.2 2.8
65.5 12
.0
10.5
11
.0
375
351.3 68.9 0.8 2.8 4.7 4.5 40
400.
307.7
37
50.
4.7 4.5
74.9
10
.0
0.9 9.0
212.3 204.6 3.4
300.
79.9 129.2 212.3 201.4 27
50. 8.0 7.0
30
3.9
83.2 131.8 6.0 5.0
10.9
20
200.
144.7 17
50.
9.8
8.8 8.3 9.1 8.2
155.1 4.0
7.5
3.0
251.5 219.9 222.7 231.1
100.
190.3 213.0 75
.0
2.0
5.7 1.0
10
126.7
69.3
0.0 -25.0 0.0 -10. 0
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
KUR Kupedes Briguna KUR Kupedes Briguna
Growth YoY Growth YoY Loan OS per Loan Officer (in Bn)
20.0
18.4 18.2 17.8 18.2
18.0
16.5
Product 2019 2020 2021 2022 2023 1H24 9M23 9M24 Product 2019 2020 2021 2022 2023 1H24 9M23 9M24 16.0
14.6
14.0 12.9
12.0 11.0
KUR 279.5% 82.8% 50.1% 32.2% -12.6% 1.3% -9.1% 8.5% KUR 4.5% 31.4% 31.1% 10.8% -19.12% -14.2% -14.2% -9.8% 10.0
8.0
Kupedes 53.4% -6.8% -8.9% -1.9% 64.3% 16.1% 57.5% 1.6% Kupedes 8.7% -12.8%-19.5% 2.7% 64.71% 13.3% 71.6% 0.0%
6.0
4.0
2.0
Briguna 39.9% -4.0% -6.3% -8.0% -6.7% -8.6% -6.9% -8.1% Briguna -3.9% -9.8% -10.1%-13.6% -12.62% -13.7% -10.4%-13.5% -
2019 2020 2021 2022 2023 1H24 9M23 9M24
Total 72.0% 14.2% 13.0% 13.3% 10.4% 5.7% 10.9% 3.3% Total 5.3% 11.4% 13.5% 7.8% -2.2% -6.3% 2.3% -6.8%
*) Bank only numbers 29
Page 30
KUPEDES DISBURSEMENT & QUALITY
Kupedes Disbursement Breakdown (Rp Bn) 2023 Kupedes Asset Quality
4Q22 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 9M24 SML SML % NPL NPL %
KUR Graduates 3,461 18,158 12,931 16,188 13,016 60,292 9,759 5,940 3,747 19,446 4,961 15.00% 1,789 5.41%
New Borrowers 4 11,363 7,448 8,687 6,608 34,106 4,894 3,205 3,423 11,522 3,067 17.10% 1,455 8.11%
Refinancing 14,880 29,639 26,290 25,311 25,646 106,886 23,234 19,234 21,605 64,073 5,468 11.98% 1,935 4.24%
Others 35 95 68 72 58 293 54 35 34 122 17 9.31% 5 3.04%
Total 22,693 59,256 46,736 50,258 45,327 201,577 37,942 28,413 28,808 95,163 13,513 13.95% 5,184 5.35%
Remaining OS & Breakdown as of 3Q24 (Rp Bn)
• As of 9M24 Kupedes disbursement declined 39% yoy
4Q22 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 • For 2023 Kupedes disbursements, the weakest asset
quality comes from New Borrowers, while Refinancing of
Remaining Loan OS 5,796 19,613 21,107 25,801 30,322 96,843 27,312 24,885 27,614 existing customers shows better performance
SML 1,181 3,728 3,183 3,754 2,848 13,513 1,661 328 53 • There are ~Rp957 Bn of KUR Graduates and New
Borrowers disbursed in 1H24 that were topped up in 3Q24.
NPL 505 1,719 1,327 1,299 838 5,184 138 17 1 Implemented the Following Strategic responses:
1) Tighter Credit Risk Scoring Grade
Write-Off 616 1,332 623 288 29 2,271 1 0 0
2) Adjusted Loan Officers KPI
Restructured Loan 1,284 3,032 2,235 1,828 1,038 8,132 276 14 1 3) Hired additional loan officers and BSA
4) Limit loan limits by regional risk profile
Avg. NPL & WO* 0.22% 0.26% 0.25% 0.22% 0.18% 0.23% 0.05% 0.01% 0.00%
5) Tiering loan approval
Avg. DG to SML 6) Reopen Regional Training Centers
3.47% 4.51% 4.26% 5.81% 5.36% 4.98% 3.83% N.A. N.A.
(6 MOB)** 7) Tighter refinancing policy
*Average of NPL + Write-off as percentage of total disbursement in each quarter divided by average Month on Book of respective quarter as of 3Q24. Please note this ratio can fluctuate significantly as MOB
increases, it is a picture in time, not a means to predict future performance. we are using this calculation to track asset quality since it's too early to compare NPL downgrades through 3Q24.
**Average DG to SML used data of average downgrade at 6 MOB
30
30
Page 31
APPENDIX
31
Page 32
DIGITAL INITIATIVES
32
Page 33
BRIMO
No. Of Users Up 24.7% YoY As Financial Transaction Value Up 35.2% YoY
BRIMO Journey Performance Supported by Significant Double-Digit Growth
Better user experience to customers by
integrating 8 points of customer needs
in one application • NFC Payment
# Financial Transaction
• Multi-currency Card # Users (in Mn) Transaction (in Mn) value (Rp Tn)
• Gold Saving & Investment Portfolio
2024
• Travel & Groceries Features
24.7% YoY 44.0% YoY 35.2% YoY
• QR Cross Border (Thailand. Malaysia.
Jepang. China) 4,500
.0
• Chat Banking Service (Sabrina) 4,034.9
4,000
.0
3,500
.0
3,145.3
• Complain-in-apps feature and toll-free
3,500
.0
37.1 2,984.2
40
.0
3,000
.0
services to ease the complaints filing
2023
2,184.1
3,000
.0
29.8
35
.0
• Government bond
2,500
.0
30
.0
2,500
.0
• Virtual credit card 2,000
.0
25
.0
• QR cross border (Singapore) 2,000
.0
• Virtual debit card
20
.0 1,500
.0
1,500
.0
15
.0
• Opening Forex account
1,000
.0
1,000
.0
2022
10
.0
• QR payment with CC as source of fund
Highest Rating Mobile Banking
500
.0 500
.0
• Personal financial management
5.0
-
• RDN investment
0.0 -
4.7
9M23 9M24 9M23 9M24 9M23 9M24
10M+ Download
150K Review • International transfers to more than
100 countries (SWIFT and Western
4.7
2021
50M+ Download Union)
1.5M Review • Forex conversion
• Instant transaction with fast menu
• QR Merchant
33
Page 34
BRISPOT
Improving Productivity and Efficiency by Digitalizing Business Process through BRISPOT
Boost Productivity & Unleash the Potential
01278781
Digitalization
+160 Impactful Features
+100K Users Micro +76 Before After
(loan officers & approvers) Small +37
Consumer +44 • Double work • All in one go
• Variative financial assessment • Standardized template
• No cross-selling module • Build-in cross-sell module
BRISPOT Features
Boost Productivity
• Sales & pipeline • BRILink partnership
Automation
• Portfolio balancing dashboard • KPI visibility
• Profit & loss portfolio • BRIfine Before After
• Working area mapping • QRIS acquisition
• UMi corner integration • Radar CASA • Manual prescreening
• Automatic prescreening
• Manual disbursement
Increase Efficiency • Automatic disbursement
• Manual reminder by loan
• Automated pre-screening • Online loan application • SMS & email notifications
officer
• Less paper letter register
• All in one application • Scheduled marketing
• Pick up transaction • Automated AGF
• BRISURF integration registration
Simplification
Strengthen Risk Management Before After
• Monitoring & evaluation • Early warning system
• Monitoring point to point • Loan collection • Paper based loan application • Paperless loan application
• “Activity Today” • KUR limit monitoring • Manual mapping • Geo-tagging technology
• Assistance • Credit restructuring • Approval process in 20 days • Less in 1 day
• BRISPOT CRR
34
Page 35
BRILINK AGENT
Redefining Agent’s Roles to Provide Access to Financing
# Agents (In Thousand) Fee Income (Rp Bn)
46.3% YoY 7.2% YoY
1,220
.0
1,196.4
1,022.2
1,200
.0
1,200
.0
SERVI CES
1,180
.0
1,000
.0
698.7 1,160
.0
800
.0
1,140
.0 1,115.8
600
.0
1,120
.0
400
.0
1,100
.0
200
.0 1,080
.0
- 1,060
.0
9M23 9M24 9M23 9M24
# Transactions (In Mn) Transaction Value (Rp Tn)
8.2% YoY 12.5% YoY
1,200
.0
880
.0
1,170.0
858.9 1,150
.0
860
.0
S T R AT E G Y
840
.0 1,100
.0
820
.0
1,040.1
793.5
1,050
.0
800
.0
1,000
.0
780
.0
760
.0 950
.0
S T R AT E G Y
9M23 9M24 9M23 9M24
Loan Referrals (In Thousand) CASA (Rp Tn)
-30.8% YoY 8.7% YoY
22.5 22.3
2,500
.0
2,155.4
22.0
2,000
.0
1,492.2
21.5
1,500
.0
21.0
1,000
.0
20.5
20.5
500
.0
20.0
-
19.5
9M23 9M24 9M23 9M24
35
Page 36
PNM & PEGADAIAN
36
Page 37
PT. PERMODALAN NASIONAL MADANI
Leading Women’s Group Lender in Indonesia
Balance Sheet Highlight (Rp Bn)
3Q23 3Q24 9M23 9M24 g YoY Loan Composition
Total Assets 50,887 54,494 50,887 54,494 7.1% As of 9M24
Loan Outstanding (Gross) 45,253 48,810 45,253 48,810 7.9%
Total Liability 42,249 44,452 42,249 44,452 5.2%
7% 3%
Total Equity 8,638 10,042 8,638 10,042 16.3%
Income Statement Highlight (Rp Bn) Mekaar
3Q23 3Q24 9M23 9M24 g YoY Ulamm
Others
Net Interest Income 3,206 3,699 8,768 10,002 14.1%
Other Operating Income 82 26 223 182 -18.2%
90%
Overhead Cost 2,259 2,186 6,312 6,066 -3.9%
Net Income After Tax 453 155 1,206 986 -18.3%
Products & Services
Key Ratios
▪ Mekaar group lending for female borrowers
▪ ULaMM Micro lending
3Q23 3Q24 9M23 9M24 g YoY Extensive Network & Sales Force
NIM 27.8% 29.4% 25.4% 26.6% 1.2%
COF 7.1% 6.6% 7.0% 6.5% -0.5% Extensive network with
COC 4.0% 10.7% 3.3% 7.6% 4.3% +4,600 outlets across
Indonesia
CIR 68.7% 58.7% 70.2% 59.6% -10.6%
Strong sales force with
The largest group lending provider in Indonesia +42,800 account officers
▪ Catering to more than 14.6 Mn borrowers, including 14.6 Mn group lending
borrowers
▪ Providing loans that are aimed at empowering underprivileged women
37
Page 38
PT. PEGADAIAN
Market Leader in Pawn Broking
Balance Sheet Highlight (Rp Bn)
3Q23 3Q24 9M23 9M24 g YoY Loan Composition
Total Assets 80,743 100,284 80,743 100,284 24.2% As of 9M24
Loan Outstanding (Gross) 65,617 82,990 65,617 82,990 26.5%
16%
Total Liability 49,323 65,660 49,323 65,660 33.1%
Total Equity 31,420 34,624 31,420 34,624 10.2% Gadai
(Rp Bn) Non Gadai
Income Statement Highlight
3Q23 3Q24 9M23 9M24 g YoY
Net Interest Income 3,125 3,918 9,130 11,390 24.8% 84%
Other Operating Income 467 709 1,361 1,755 28.9%
Overhead Cost* 2,052 2,189 5,884 6,644 12.9% Products & Services
Net Income After Tax 1,112 1,539 3,219 4,444 38.1% ▪ Pawn financing ▪ Gold savings
*Exclud ing Cost o f Goo d S old for G old ▪ Micro-fiduciary ▪ Others (e.g., money
financing transfers, payments)
Key Ratios Extensive Network & Sales Force
3Q23 3Q24 9M23 9M24 g YoY
NIM 19.2% 19.2% 19.6% 20.1% 0.5%
COF 5.9% 6.5% 5.8% 6.2% 0.4%
COC 0.7% -3.7% 1.1% 1.5% 0.3% + 4,000 Outlets +4,000 sales force
CIR 57.1% 47.3% 56.1% 50.5% -5.5%
The oldest pawn service provider with more than 120 years
experience
▪ The largest pawn service provider based on Asset & Loan +8.2 Mio Gold Savings
Active +3.2 Mio Active Cust. with
▪ Leader in pawn lending with market share of more than 95%, catering
Borrowers +9.3 Tonne gold outstanding
to more than 8.2 Mn borrowers
38
Page 39
ESG INITIATIVES
39
Page 40
VALUE BEYOND PROFIT, COMMITMENT TO ESG
At The Forefront of ESG Implementation
BRI Sustainability Journey BRI Sustainability Framework
1985 2019
2013 2015 2017
1986 Our Purpose
KUPEDES & Published first Joined First Issued CPO Issued Empowering The People and Nurturing The Planet
SIMPEDES Sustainability Movers on specific- Sustainability
was launched Report Sustainable sector Loan Bond Sustainability Strategy Pillars
Banking Policy ($500Mn)
initiated by
OJK
2024 Environmental Social Governance
2023 2022 2021 2020
Onboarding Climate Empowering The Maintaining Good
Green Bond Net Zero Formed ESG Formed Conducted Change People Corporate Governance
(Rp 2.5 Tn) Emission Division Ultramicro GHG
Target 2050 Holding with Emission • Climate Risk
- Oil & Gas BRI • Customer Empowerment • Board Governance
Pegadaian & Calculation • Green Network
loan policy Committed to Sustainability • Employee Empowerment • Business Ethic
PNM • Green Banking
- Coal loan SBTi to set Strategy • Community Empowerment • Responsible Product
policy science-based Issued Green Formed ESG • Risk & Cybersecurity
Environmental
NZE target Bond Committee
- Net Zero Social
Issued TCFD (Rp 5 Tn) Expected SDGs Impacts
Target Constituent
Approved by Report Pulp & Paper Governance
of IDX ESG
SBTi Principles of sub-sector loan Leaders
Human Rights policy Index
in Employment
PCAF
UNGC Signatory Signatory
Green Bond
Financed
(IDR 6 Tn)
emission
calculation Governance 40
Page 41
MAINTAINING GOOD CORPORATE GOVERNANCE
BOARD GOVERNANCE As of 1H 2024 BUSINESS ETHICS
22 Board Members BRI has become the supporter of United Global
Compact (UNGC) since 2023. This commitment
underscores our dedication to align our business
12 Members of practices with ethical standards for human rights,
Board of Directors labor, environment, and anti-corruption
10 Members of
Board of Commissioners
CYBERSECURITY
Independent members BRI takes a proactive approach to cybersecurity, continuously investing in
measures to safeguard customer information. Our robust cybersecurity programs
have resulted in Zero data breach in the past 5 years.
Gender of Board Members Age of Board Members Independency of BoC
Cybersecurity Framework
22,7% 22,7%
30%
77,3% 77,3% 70%
30 - 50 > 50 Independent Non-independent
Identify Protect Detect Response Recover
Male Female
• IT security • Security • Security • Cyber • IT recovery
Long-term Incentive Plan for the Maturity Governance Operation Security orchestration
ESG Governance Assessment Center Incident
Members of Board of Management • Data security • Strategic
Response
• Gap analysis • Thread post-cyber
• Policies & Team
Intelligence attacks
BRI offers a 3-year performance- ESG Committee, chaired by the Procedures (CSIRT)
analysis
based share/cash bonus (LTI) to CEO, oversees ESG strategies, • Brand
• Awareness &
Board members, tied to ROE, NPLs, Protection
monitor ESG performance, and Training
and total shareholder return. manage ESG risks.
Governance 41
Page 42
SUSTAINABLE FINANCE
Sustainable Financing Portfolio (Rp Tn) ESG-based Wholesale Funding
BRI is driving positive change by directing 61.9% of its financing and corporate Green Bond
As of Q32024
bond investment towards sustainable sectors.
90
Total Wholesales Funding : Rp 61.6 Tn Inclusivity-based
4.5 17.8%
80
4.4 Securities
36.3% ESG -based Loan
80.4 83.3 9.2%
63.7% of BRI’s total wholesale
70
78.8 ESG-based Corporate
60
70.8 Bond Investment funding are ESG-based 29.5% ESG Repo
50
65.9
Social Loan Portfolio Non ESG-based Funding
Green Bonds
40
7.2%
30
616.1 692.3 677.1
484.4 543.4 Green Loan Portfolio
20
Green Bond Phase I Green Bond Phase 2 Green Bond Phase 3
10
0
Issue Date 21 July 2022 Issue Date 17 October 2023 Issue Date 20 March 2024
2020 2021 2022 2023 Q324 Total Size Rp 5 Trillion Total Size Rp 6 Trillion Total Size Rp 2.5 Trillion
Proceed • 81% Green Projects Proceed • 81% Green Projects Proceed • 70% Green Projects
Green Financing Portfolio Breakdown (Rp Tn) • 30% Social Projects
Allocation • 19% Social Projects Allocation • 19% Social Projects Allocation
Green transportation; Rp10.97 Eco-efficient products; Rp7.97 Contribution to SDGs
Renewable energy; Rp6.18
Green building; Rp1.84 Sustainability-linked Loan Inclusivity-based Securities
Pollution prevention & The proceeds are allocated for financing for MSMEs, MSME Corporations,
control; Rp0.52 The First Asia Financial Sector
and/or Low-Income Individuals
Sustainable launching sustainability-linked loan
management of Land and water
Medium Term Notes 2022 Subordinated Bonds IV 2023
living natural biodiversity
Signing Date 26 August 2022
resources and land conservation; Rp0.23 Issue Date 24 November 2022 Issue Date 6 July 2023
use ; Rp55.58 Total Size US$ 1 Billion
Sustainable water and Total Size Rp 5 Trillion Total Size Rp 500 Billion
wastewater management; % increase in Micro Loan
Rp0.00 (SPTs) Composition
Contribution to SDGs
Other environmentally-
friendly projects; Rp0.02
Contribution to SDGs
Governance 42
Page 43
INCORPORATING ENVIRONMENTAL CONCERNS INTO
LENDING POLICY
BRI Loan Policy Palm Oil Loan Policy Pulp & Paper Loan Policy Climate Risk Stress Testing
No deforestation practices, including land No deforestation practices, including land • Aligned with the Financial
BRI Negative List Loan Policy, clearing and no exploitation
BRI is committed to having no clearing and no exploitation Services Authority (OJK)
exposure in several sectors, roadmap for Climate Risk
ISPO/RSPO certification or still in the
including but not limited to: Industry Certification: Timber Legality Management and Scenario
process of obtaining ISPO certification
Assurance System (SVLK)/ HCV or HCS Analysis (CRMS)
Gold or Green Predicate on PROPER Assessment/ Green Industry Certification/ implementation, BRI will
Illegal Logging Rating Forest Stewardship Council/ Indonesian conduct Climate Risk Stress
Cultivation of Marijuana & Forestry Certification Cooperation Testing (CRST) in 2 phases.
Narcotics productions and
trading Oil and Gas Policy Gold or Green Predicate on PROPER Rating • The analysis in Phase I covers
Forced labor, child Energy Transition
71.41% of our total portfolio
exploitation, human • Road map for reducing GHG emissions
(50% required by OJK)
Loan Exposure
rights violation • For Oil and Gas Business activities that use
energy >= 6000 TOE, have proof of • Sectors included:
implementing Energy Management in 1. Agriculture, hunting &
Money Laundering %Composition forestry,
accordance with regulation. As of Q32024
Destroying historical 2. Mining & quarrying
and archaeological PROPER Rating (Black PROPER rating is Pulp & Paper 1.0%
3. Electricity, gas & water,
building not accepted) Oil & Gas 2.8% 4. Construction,
5. Transportation & storage,
Coal 0.9% 6. Manufacturing,
Trading protected animals
Coal Loan Policy Coal-fired Power 2.1% 7. Wholesale & retail trade,
Fishing business using 8. Mortgage
fishing gear that is Generation
Energy Transition 3.9%
prohibited by Plantation • Phase II Analysis will cover
Roadmap for reducing GHG emissions
regulation Plantation - Processing 3.6% 100% that will be delivered in
and implement energy management in
Other fields/sector compliance with regulations & Manufacturing 2025.
according to applicable Plantation - Trading 0.5%
law PROPER Rating (Black PROPER 85.1%
Others
Rating is not accepted)
* The above specific sector loan policies only apply to corporate and medium segment debtors.
Each loan policy incorporates a comprehensive set of ESG risk mitigation measures, of which the examples provided are illustrative. Governance 43
Page 44
EXPANDING FINANCIAL INCLUSION & LITERACY IN INDONESIA
BRI is committed to providing access to customer-centric and affordable financial products & services to underserved groups, including but not limited to low-income
individuals, underprivileged women, and other underserved groups.
As of Q3 2024
Access Usage Quality
Making financial services available and accessible to everyone Creating and offering affordable financial products that meet the Helping customers improve their financial knowledge, protect their
through BRI branches, digital banking, and BRILink agent networks. changing needs of customers, especially the underserves. money, and grow their businesses through community programs.
Extensive Banking Channels Saving Products A program to create successful businesses
Simple and affordable savings in villages across Indonesia, helping 3,957
180 million achieve global development goals. BRILiaN Villages
account designed to meet the needs accounts
of individuals from all walks of life
7,594 1,025 721,791 A program targeting micro-communities by
Physical Outlets Savings account designed 2.3 million forming Business Clusters based on
Senyum Outlets E-channels*
specifically for children under the
33,804
accounts shared interests, environmental Business Clusters
age of 17 conditions, and familiarity.
Digital Financial Inclusion through BRImo
Micro Insurance Products A platform to support the development of
(in Million) Affordable life insurance for 10.2 million +8.9 Million
(in Million) MSMEs, offering various training services,
3,145.3 insurance policies
individuals in micro segment consultations, business information, and Users
# Financial Trx
37.1 3,500
.0
40
.0
35
.0 29.8 3,000
.0
2,184.1 other supporting facilities.
30
.0
25
.0
2,500
.0
2,000
.0
Affordable home insurance for 7.7 million
20
.0
individuals in micro segment insurance policies
# Users
1,500
.0
15
.0
10
.0
5.0
1,000
500
.0
.0
A digital marketplace for food 85.298
Affordable business property commodities, enabling farmers, breeders,
0.0
Users
-
9M23 9M24 6.0 million
9M23 9M24 insurance for individuals in insurance policies and fishers to sell their products across
micro segment Indonesia.
Expand access through BRILink Agents Ultra Micro & Micro Loan Improve and protect customers financial well-being through:
(in Thousand) (in Million) Group-based ultra-micro loan • Fair marketing policy
14.6 million
858.9 • Customer’s Data privacy management
880
.0
1,022.2 program specifically designed to Women borrowers
# Transaction
1,200
.0 860
.0
1,000
.0
698.7 840
.0 empower under-privileged women • Financial Advisor & Digital Literacy
• Loan Calculation based on Customers’ Needs to avoid over-indebtedness
800
.0
820
.0
793.5
# Agents
7.6 million
600
.0
400
.0
800
.0
Pawn lending product to meet the • Responsible Debt Collection
200
.0
780
.0
needs of customers Pawn borrowers
760
.0
-
9M23 9M24 Dec 2023 Sept 2024
9M23 9M24
BRI micro-lending products to Customer
Transactions via BRILink Agents include transfers, payments, meet the needs of individual and
13.3 million
Micro borrowers
Satisfaction Rate 84.66 87.97
top-ups, cash deposits and withdrawals. business customers
*Includes ATM, EDC, CRM and e-Buzz Social 44
Page 45
EMPOWERING OVER 14.6 MILLION UNDERPRIVILEGED WOMEN
TO BUILD BUSINESSES
PNM Mekaar Business Capacity Development Initiatives
PNM Mekaar provides access to capital, assistance, & capacity building
programs for Underprivileged Women Community & SME, especially female
housewives.
Training for Borrower Preparation
Carried out for 3 days
As of Q3 2024 Training Program for prospective customers of prior to loan
PNM Mekaar disbursement
+14.6Mn
2.0% YoY
+41,200 Female Borrowers
Mekaar Account Officer Meaningful Weekly Group Meeting
+Rp 43.9 Tn Meaningful Weekly Group
All Mekaar Account Officers 10.7% YoY Meeting (PKM Bermakna) is
are female
Mekaar Loan
carried out by Mekaar Loan
Outstanding Officer through weekly group
meeting activities
Women Empowerment as part
of the Meeting Schedule
• Importance of saving
• Reading business
opportunities
• Managing business and
family finances, etc.
Social 45
Page 46
DEVELOPING HUMAN CAPITAL & PROMOTING HUMAN RIGHTS
HUMAN CAPITAL MANAGEMENT As of Q3 2024 Employee Support Program
Supporting Physical Wellbeing Supporting Social Wellbeing
89.477 • Regular Medical Check-up • Respectful Workplace Policy
total employee • Health Insurance
• Fitness Center
As per Q3 2024 42.4% female out of total employee
Supporting Psychological Wellbeing Supporting Financial Wellbeing
Age 30 - 50
< 30 years , > 50 years , • Psychological consultancy through • Seminar focusing on personal
Composition Q3202
4
years ,
37.4% 3.8% BASIC (BRILiaN Assistance Center) financial management
58.8%
• Maternity & Paternity Leaves
25.1% 0.0% 20
.0
% 40
.0
% 60
.0
% 80
.0
% 100. % 12
00. %
women leaders HUMAN RIGHTS MANAGEMENT
out of total management
* including: Top Management, Middle Management, and Junior Management Human Rights BRI's Human Rights Policy is a form of respect for Human Rights that guides the
Policy implementation of Human Rights in BRI's own business and operations, activities
within supply chains and other third-party partners, activities involving BRI
Long-Term Incentives For Employees since 2016 customers, and activities within the community.
Human Stakeholders
Employee Stock Allocation Program (ESA) Stakeholders Human Rights Issues Being Assessed
The Employees eligible for ESA will be from all levels based on
Rights Assessed
multi-year historical performance requirement Assessment Discrimination & harassment, Diversity, equity, &
inclusion, Health & safety, Remuneration, Work-
Employee Stock Option Program (ESOP) Employees 67.05%
Historical Program
The Employees eligible for ESOP will be from BOD-1 to BOD-4
Life balance, Human Capital development,
Freedom of association
ESA
level out BRIof 7 levels of employees
of a total
Forced Labor, Child Labor, Limited Collective
ESA Comp% ESOP Comp% Bargaining, Freedom of Association, Health &
Number of Shares Vendors 42.13% Safety, Unfair Work Conditions, Discrimination,
(thousand)
1,026,523 0.0007% 148,926 0.0001% Inadequate Living Standard, Limited Medication,
Privacy Violation
Number of Participant
(per program) ~50,000 64.3% ~2000 2.6%
Social 46
Page 47
GREEN INITIATIVES TO MANAGE CLIMATE IMPACT
Operational Emissions Target & Progress (TonsCO2eq) Avoidance & Removal Emissions Initiatives
492,370 486,271 Zero Waste to Landfill Program
42% red uction
compared to
BRI has established waste management and routine monitoring that includes a series of activities, from
Base Year sorting, disposal, collection, and transportation, to processing. Total 441.817 kg CO2 eq of emission
avoided in 2023
360,135 355,742
Net Zero Scope 1 Emission s
132,235 130,529 Target
- Scope 2 Emission s
2022 2023 2030 2050
Near-term
Base Year
Target
Green Initiatives to Support NZE 2050 (as of Q3 2024)
Implemented Solar Panels in 118 offices
BRI Menanam & BRI Menanam Grow & Green
(BRI Tree Planting) has distributed 904,196 tree seedlings and reached 2,593 villages throughout
Indonesia. The estimated absorption of pollutant gasses in 2023 are 780.606 kgCO2e.
Converted operational vehicles to eco-friendly vehicles
472 Unit
eco-friendly vehicles
Environmental 47
Page 48
GREEN BANKING
Reduction Target and Pathways of Financed Emission
In our effort to achieve the net-zero target by 2050, BRI has conducted comprehensive calculations of the carbon intensity from financed emissions. BRI has set specific targets
and pathways for key industrial sectors, including paper & pulp, commercial real estate, power generation, and power generation project finance, using 2022 as the base year.
These targets have been validated by the Science Based Targets initiative (SBTi).
To establish and manage emission reduction targets, BRI employs the Sectoral Decarbonization Approach (SDA) and the Temperature Ratings Approach (TRA) methodology, ensuring alignment
with global best practices for achieving sustainability goals.
Sectoral Decarbonization Approach (SDA) Financed Emissions by Sector (TonsCO2eq)
Paper and Pulp Commercial Real Estate Power Generation Pr oject Finance Power Generation 1.06% 0.37% 0.05%
Electricity, gas, steam, & AC supply
1.10%
1.075 0.959
0.123 0.117 0.548 0.545
0.858 0.02% Manufacturing
0.816
Reduction Reduction Reduction Reduction
33% 40.8% 40.61%
Mining & quarrying
46.4% 17.71%
Reduction
Reduction Reduction Reduction Agriculture, forestry, fishing
71.6% 80.8% 80.6%
81%
19.44% Real estate
0% 0% 0% 0% 60.25%
2022 2023 2030 2040 2050 2022 2023 2030 2040 2050 2022 2023 2030 2040 2050 Construction
2022 2023 2030 2040 2050
Base Year Target Base Year Target Base Year Target B ase Year Target
Transportation & Storage
(Unit metric tons CO2e/metric tons (Unit metric tons CO2e/m2) (Units: metric ton CO2e/electricity (Units: metric ton CO2e/electricity Finance & insurance
of paper and pulp produced) and heat generated in MWh) and heat generated in MWh)
Financed Emissions by Asset Class
Temperature Rating Approach (TRA) (TonsCO2eq)
Loan Bond & Listed Equity 1.06% 0.01%
4.42%
Scope 1, 2 Scope 1, 2, 3 Scope 1, 2 Scope 1, 2, 3 Business Loan
(Annual Reduction Rate (ºC/year) 0.0783) (Annual Reduction Rate (ºC/year) 0.0656) (Annual Reduction Rate (°C/year) 0.0756) (Annual Reduction Rate (°C/year) 0.0661)
Electricity Gen. Project Finance
3.16oC 3.14oC 3.18oC 3.18oC 3.11°C 3.09°C 3.19°C 3.18°C
2.77oC 2.85oC 2.73°C 2.86°C Bond Investment
33.59%
2 oC 2.00°C
1.75oC 1.75°C 60.93% Commercial Real Estate
Listed Equity
202 2 202 3 202 7 204 0 202 2 202 3 202 7 204 0 202 2 202 3 202 7 204 0 202 2 202 3 202 7 204 0
Realization Target
Environmental 48
Page 49
BRI ESG RATINGS
Sustainalytics MSCI Other ESG Ratings
• Overall Score: 110.2
• Top 3 public listed company in
ESG Risk Rating Indonesia with top score above 97
ESG Rating
• CGPI Score: 95.21, considered as the
A A A CGPI “Most Trusted Company”
Low Risk Low Risk • The score increased from 95.18 in
Medium Risk 18.8 17.8 2022
20.9
• FTSE4Good ASEAN 5 Index
• Top 10 Constituents (per Sept 2024)
2021 2022 2024 2022 2023 2024
Last Update: May 16, 2024 Last Update: June 25, 2024
Indonesia’s Stock Market Indices
S&P Global SRI-KEHATI
SRI-KEHATI Index is the Sustainable and
Responsible Investment (SRI) Biodiversity
index that uses the principles of ESG
• Classified as “ESG Quality 45” and “ESG Sector
95th Leaders”
90th 92th IDX ESG Leaders
Percentile Measuring the performance of
Rank companies that have good ESG
63 63 75 assessments and are not involved
ESG in significant controversy
Score:
BRI has been a constituent of the IDX ESG
2022 2023 2024 Leaders Index (ESGL) since March 2021
49
Page 50
INVESTMENT PROPOSITION
50
Page 51
BRI INVESTMENT PROPOSITIONS
01
Sound Business Strategy, Focus on Flagship Segments
02 Hybrid Bank Business Model
03
Solid Foundation for Low-cost Fund
04 Robust Capital Management to Ensure Optimum Return
05
Value Beyond Profit, Commitment to ESG
51
Page 52
BRI'S CORPORATE STRATEGY
Asset Quality
1 Focus on asset quality and recovery income to support profitability through comprehensive
balance scorecards, resources reallocation and collection tools enhancement
Selective Growth
2 Productive asset growth while maintaining quality by focusing on high yield asset
The Most Valuable expansion through pipeline management and strengthening role of subsidiaries
Banking Group in CASA Sustainability
Southeast Asia & 3 Increasing CASA market share by building ecosystem through territorial control &
referrals and value chain business
Champion of
Financial Excellence Enablers
4 Strengthen employee capabilities, system reliability, services and networks, as well
Inclusion as data analytics to provide superior quality banking services
52
Page 53
ULTRA MICRO & MICRO ECOSYSTEM
Quantifying the opportunity and the network's multiple access points
Access to comprehensive Ultra Micro & Comprehensive Savings and Beyond
Micro Financing Products Banking Products
• Group Lending (PNM Mekaar): • Micro Savings: Rp319.2 Tn (+2.5% YoY)
Rp43.9 Tn (10.7% YoY), 14.6 Mn borrowers • Micro Insurance (Life/ Health, House &
(-2.0% YoY) Property): 23.9 Mn insurance policies (-11.2%
• Pawn Lending (Pegadaian): YoY)
Rp69.6 Tn (27.3% YoY), 7.6 Mn borrowers • Life/ Health: 10.2 Mn policies (-19.0% YoY)
(11.5% YoY) +36.1mn +180mn • House: 7.7 Mn policies (-2.9% YoY)
• Micro Loans Across Each UMi Business: Micro • Property: 6.0 Mn policies (-6.1% YoY)
(-1.1% YoY)
a) BRI Micro Loan: Rp495.8 Tn (3.3% YoY), • Gold Savings & Investment:
13.3 Mn borrowers (-6.8% YoY) UMi & Micro Deposit
3.2 Mn customers & 9,342 kg gold OS (22.2%
b) PNM Ulamm: Rp3.5 Tn (-23.1% YoY), 70.5K Borrowers Accounts
YoY)
borrowers (-44.5% YoY) • Mobile Banking (BRImo): 37.1 Mn users (24.7%
c) Pegadaian (Non-Pawn Lending): Rp13.4 Tn YoY)
(22.4% YoY), +606K borrowers (10.9% YoY)
Wider Points of Access
Physical Outlets Co-Location BRI Financial Advisors
Physical Outlets BRILink Agents
+15.3K units (-0.8% YoY) (Senyum Outlets) E-Channels +74.2K (-2.7% YoY)
(BRI Micro Outlets +6.6K (-3.7% YoY); +1.0 Mn Agents +721k units (BRI +27.2K (1.2% YoY);
1,025 units
Pegadaian +4,092 (+0.1% YoY); PNM (+14.8% YoY) Pegadaian +4.1K (-8.8% YoY);
(0.9% YoY) (46.3% YoY)
+4,675 (2.7% YoY) PNM +42.8K (-4.4% YoY)
53
Page 54
FOCUSED GROWTH ON THE ULTRA MICRO & MICRO SEGMENTS
Well-positioned To Serve The Growing Financing Needs of the Segment
National Posture of Indonesian Enterprises and Individuals
1
Corporation: ~5.6k business with sales of >Rp50 Bn and working capital of Corporate/ 1 High Net Worth Individual: ~129k people with assets of
>Rp50 Bn Individual >Rp500 Bn
Medium: ~44.7k businesses with sales of >Rp15 Bn – Rp50 Bn and working Premium: ~1.1 Mn people with assets of >Rp500 Mn
2 Medium Premium 2
capital of >Rp5 Bn – Rp10 Bn
3 Small: ~194.0k businesses with sales of >Rp2 Bn – Rp15 Bn and working
Middle 3 Middle Class: ~90 Mn people with assets of Rp50 Mn –
capital of >Rp1 Bn – Rp5 Bn Small Rp500 Mn
Class
4 Micro & Ultra Micro 4 Micro
• ~67 Mn businesses, incld. ~53 Mn businesses eligible for Ultra • c. ~165 Mn people with ample knowledge of basic saving
Micro loans products but low for investment and insurance
• Access to group loans or KUR only • Start using digital banking technology
Ultra Micro
Mass • Mostly reliant on informal funding
Micro and Ultra Micro
Large Customer Base Extensive Banking Channels Comprehensive Product Offerings Digitized Business Process
BRI Micro & +36.1 Mn Borrowers • 6,558 BRI Micro Outlets ❑ Lending: Individual, ❑ Insurance: Life and • BRISPOT Micro, Pegadaian Selena,
Ultra Micro (+14.6 Mn BRI, +14.6 Mn • 4,092 Pegadaian Outlets Group Lending, Pawn Health Insurance, PNM Digi (Digital Loan Underwriting
Comprehensive PNM, +8.2 Mn Pegadaian • 4,675 PNM Outlets Lending General insurance System)
Business • +1.0 Mn BRILink Agents ❑ Investment: Gold • Senyum Mobile (cross referral system)
borrowers) ❑ Deposits: Saving
Account, Current Savings • BRILink Mobile (Mobile App for Brilink
Account, Time Deposit ❑ Other Services Agents)
Source: Ministry of Coorperatives and SMEs’s published data (2021) and BRI’s public filings 54
Page 55
THE ESTABLISHMENT OF ULTRA MICRO ECOSYSTEM
Strengthen BRI’s Positioning In Micro Banking Through Integrated Customer Journey
Ultra Micro Business will serve as BRI’s New Source of Strong Business ecosystem of BRI, Pegadaian and PNM will create integrated customer journey
and Sustainable Growth through Unique Value Propositions
(# Ultra Micro Business)
Total ~53 Mn
Unserved ~3.0 Mn
Served
Friends & Family ~3.0 Mn Bank
Loan ~15.5 Mn
~3.0 Mn
Shark
Fintech ~1.5 Mn
Rural ~1.5 Mn ~9 mio
Bank
~44 mio
Pawn
Lending Value Propositions
~7.5 Mn
1 2 3 4 5 6
Group Comprehensive Joint Wider Customer Access to Micro Data Empowerment
~18 Mn
Lending Financing Customer Point of Access Payment Ecosystem Analytics & Increasing
Product Acquisition Through & Beyond Banking Capabilities
Offering Co-Location Products
Source: Company, as of 2023 55
Page 56
HYBRID BANK BUSINESS MODEL
Combining Physical Presence and Digital Capabilities (Phygital) to Match Customer
Journey
Key Characteristics of Ultra Micro & Micro Customers
Familiar with digital platforms,
1 although smartphone HYBRID BANK
penetration remains low
Digital Capabilities Physical Presence
Limited knowledge of financial
2 products beyond savings
account
Digitizing Core
7,706 Outlets
Digitize business process to boost
3 Cash still being the dominant
chosen method of
productivity & unleash the potential 1 1 743,308 E-Channels
transactions
4 Need a financial institution that
is “locally embedded” and is
Digital Ecosystem Big Data & AI 993,677 BRILink Agents
able to “gain their trust” Build ecosystem to leverage new
liquidity, new opportunities and 2 BRIBrain Utilization
2 BRI Branchless Banking
new source of growth
Majority without stable
5 income
Prefers banking via an agent New Digital Propositions ~27.2k Experienced Financial
6 rather than digital banking
model
Create independent greenfield digital bank 3 3 Advisors
to tap the untapped segment and
+74k Umi Holding (incld. Pegadaian & PNM)
embedded in customer’s life
Open to beyond banking
7 offerings to help grow the BRI Digital Advisors (“Penyuluh Digital”)
business Digital Acquisition, Digital Transaction,
and Digital Education
56
Page 57
SOLID FOUNDATION FOR LOW-COST FUND
CASA Focused Strategies to Optimize Market Potential and BRI’s Large Customer Base
BRI CASA Performance CASA Potential
Broad range of products for various customers’ needs
• Savings - Simpedes, Simpedes Bisa, Simpedes UMi,
CASA: BRI vs Industry (Rp Tn) Financial Inclusion Index Customer Oriented Britama, Britama Bisnis, Britama Valas, , Britama
CASA Products Rencana, Britama Junio, Tabunganku
• Current Account - Giro BRI
90 .0 0%
7,000
.0
80 .0 0%
6,000
.0
70 .0 0%
5,000
.0
Improve Customer Experience by
60 .0 0%
Re-Inventing re-inventing the business process
4,000
.0
6.5% YoY 50 .0 0%
3,000
.0
5,048.3 5,438.4 40 .0 0%
67.80%
76.19%
85.10%
75.02% Business Model (BRILink, BRIMO, Digital Saving)
30 .0 0%
2,000
.0
20 .0 0%
1,000
.0
10 .0 0%
821.1 874.2
7.7% YoY
Providing customized payment platform
-
0.00 %
Digital Ecosystem to capture new growth potential (BRI
9M23 9M24 2016 2019 2022 8M24
Platform Open API, BRIMOLA, Junio Smart)
BRI Industry Source: National Survey of Financial
Literacy & Inclusion 2024 by
Financial Services Authority Capturing the liquidity potential based
Close Loop on commodities (Pasar.id, Commodity
Ecosystem Payment Chain)
Cost of Fund* Money Outside Banks (Rp Tn)
12
00
976 Increasing share of wallet through BRI
3.73% 3.64%3.66%
100
831
898 940
Subsidiaries’
4.00%
3.53% 760 Group Synergies (joint acquisition/cross
3.50%
3.06%
80
655 Synergies selling)
60
3.00%
2.36%
2.06%
40
2.50%
20
Culture &
2.00%
CASA Focus KPIs, Empowering Customer’s
1.50%
Digital savviness by extending RM’s role as
0
2019 2020 2021 2022 2023 1H24 9M24 2019 2020 2021 2022 2023 7M24 Capabilities
Digital Advisors
*Source: Indonesia Financial Statistic
*Consolidated number
57
Page 58
3Q24
BANK ONLY PERFORMANCE
58
Page 59
FINANCIAL HIGHLIGHT – BANK ONLY
Bank Only
Description
3Q24 vs 9M24 vs
9M24 9M23 3Q24 2Q24 3Q23
2Q24 9M23
Total Loan (IDR Bn) 1,216,403 1,136,001 1,216,403 1,089,372 46,629 11.7% 7.1%
Micro/ Total Loans 40.76% 42.24% 40.76% 41.10% 42.24% -0.3% -1.5%
NIM 6.45% 6.97% 6.53% 6.24% 7.29% 0.3% -0.5%
Total CAR 24.97% 25.23% 24.97% 23.23% 25.23% 1.7% -0.3%
CASA % 64.40% 63.81% 64.40% 63.43% 63.81% 1.0% 0.6%
Cost of Fund 3.58% 2.74% 3.49% 3.53% 2.83% 0.0% 0.8%
Cost to Income Ratio (CIR) 37.58% 37.63% 39.14% 38.89% 35.28% 0.2% -0.1%
NPL (Gross) 3.04% 3.23% 3.04% 3.21% 3.23% -0.2% -0.2%
Credit Cost 3.30% 2.47% 2.94% 3.17% 1.88%
Net Credit Cost 1.40% 1.16% 0.49% 1.36% 0.92% -0.2% 0.8%
ROA After Tax 3.03% 3.09% 2.91% 3.14% 3.00% -0.2% -0.1%
ROE B/S 18.86% 18.06% 17.56% 20.20% 17.40% -2.6% 0.8%
Leverage 5.9 5.8 5.9 -0.3 5.8 6.21 0.1
Net Profit (IDR Bn) 41,673 39,003 13,426 14,448 12,737 -7.1% 6.8%
59
Page 60
BALANCE SHEET – BANK ONLY
Balance Sheet Optimization Supported by Earning Assets Mix
(Rp Bn)
Items 9M24 1H24 9M23 g QoQ g YoY 2023 2022 2021
Cash and Cash Equivalent 90,469 101,362 115,360 -10.7% -21.6% 132,904 177,282 82,059
Total Earning Assets: 1,703,068 1,709,116 1,599,853 -0.4% 6.5% 1,684,737 1,573,609 1,504,797
- Placement with BI & Other Banks 105,714 43,973 37,866 140.4% 179.2% 85,555 88,710 66,922
- Receivables (Acceptance & Others) 54,718 87,455 68,283 -37.4% -19.9% 65,018 47,075 39,856
- Loans 1,216,403 1,207,047 1,136,001 0.8% 7.1% 1,146,083 1,029,803 943,703
- Gov't Bonds & Marketable Securities 276,333 321,066 308,759 -13.9% -10.5% 338,826 360,085 408,265
- Other Earning Assets 49,900 49,574 48,943 0.7% 2.0% 49,255 47,936 46,051
Earning Asset Provision: (76,701) (79,002) (83,095) -2.9% -7.7% (79,660) (86,447) (82,868)
- Loans Provisions (75,117) (77,678) (79,796) -3.3% -5.9% (77,010) (84,579) (80,911)
- Other Provisions (1,584) (1,324) (3,299) 19.6% -52.0% (2,650) (1,868) (1,957)
Fixed & Non-Earning Assets 92,029 101,284 93,886 -9.1% -2.0% 97,267 86,550 68,773
Total Assets 1,808,865 1,832,759 1,726,003 -1.3% 4.8% 1,835,249 1,750,995 1,572,761
Third Party Funds : 1,357,526 1,384,426 1,285,883 -1.9% 5.6% 1,352,683 1,300,776 1,127,849
- CASA 874,241 878,163 820,477 -0.4% 6.6% 873,169 870,532 713,973
Current Account 351,044 358,694 315,442 -2.1% 11.3% 346,655 349,492 219,397
Savings Account 523,197 519,469 505,036 0.7% 3.6% 526,515 521,040 494,576
- Time Deposits 483,286 506,262 465,406 -4.5% 3.8% 479,514 430,244 413,876
Other Interest-Bearing Liabilities 84,634 97,312 82,252 -13.0% 2.9% 103,533 95,353 103,204
Non-Interest-Bearing Liabilities 59,307 59,027 61,822 0.5% -4.1% 80,296 61,244 55,291
Total Liabilities 1,501,467 1,540,764 1,429,956 -2.6% 5.0% 1,536,512 1,457,373 1,286,343
Tier 1 Capital 249,334 233,938 235,188 6.6% 6.0% 238,957 234,728 231,397
Total Equity 307,398 291,995 296,047 5.3% 3.8% 298,737 293,622 286,418
Total Liabilities & Equity 1,808,865 1,832,759 1,726,003 -1.3% 4.8% 1,835,249 1,750,995 1,572,761
60
Page 61
LOAN PORTFOLIO – BANK ONLY
Loan Growth Led By Corporate & Consumer Segments
Loan Outstanding – by business segment (Rp Tn) Composition – by business segment (%)
1,400
.0
12
0.0%
1,207.0 1,216.4
1,200
.0
1,146.1 1,136.0
100. %
1,029.8 251.8 256.0
206.8 221.2 17.5%
1,000
.0
943.7 22.2% 19.1% 18.3% 18.0% 20.9% 19.5% 21.0%
859.6 880.7 180.6 32.3 36.2 36.9
30.8 2.3% 2.2% 2.0% 2.8% 2.7%
80
.0
%
172.4 2.5% 3.0% 3.0%
21.0
800
.0
168.4 228.1 230.7 230.7
191.1 20.8 226.4 21.6% 21.1% 19.9% 19.9%
22.4% 19.1% 19.0%
20.0 216.9 23.1%
60
.0
%
21.5 204.1
197.2 192.2 196.9
600
.0
182.4 177.7 15.7% 15.9%
198.7 16.3% 15.8% 15.9% 15.6% 16.2%
161.7
149.4 40
.0
%
16.4%
400
.0 143.7
140.5
449.6 496.6 496.2 479.9 495.8 42.1% 43.7% 43.3% 41.1% 42.2% 40.8%
200
.0
397.0
20
.0
%
35.8% 39.9%
307.7 351.3
- 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Micro Consumer Small Medium Corporate Total
YoY Growth ( % ) 3.3 10.8 1.9 19.8 15.7 7.1
(Rp Tn) 15.9 19.3 4.4 6.1 34.8 80.4
√ Since 2022, BRI has classified SOE and Corporate non-SOE into Corporate Segment 61
Page 62
MICRO DISBURSEMENTS MODERATING
KUR Portion Increased as Part of Frontloading Strategy
Kupedes Quarterly Disbursement (Rp Tn) Disbursement Composition by Product
70.0
12
00. %
60.0
59.3
100. %
50.3 7.9% 5.8% 4.9% 4.8% 5.2% 5.2%
50.0
46.7
45.3
80
.0
%
25.4% 25.2%
40.0
37.9 43.0% 40.5%
56.1% 60.1%
60
.0
%
30.0 28.4 28.8
22.7 22.7
20.8
20.0
19.0 40
.0
%
16.7 16.2 66.8% 69.0%
14.8
13.3 54.2%
52.2%
39.0%
20
.0
%
10.0
34.7%
- 0.0%
2021 2022 2023 2024 2021 2022 2023 1H24 9M23 9M24
Q1 Q2 Q3 Q4
KUR Kupedes Briguna
62
Page 63
LOAN DETAIL: MICRO LOANS
Use of Loan Business Sector
12
00. %
12
0. 0
%
100. %
12.0% 11.9%
10. 0
%
18.9% 15.3% 12.6% 13.6% 14.2% 14.0%
27.1% 22.8% 23.8% 21.3% 19.5% 20.1%
29.8% 27.0%
8.8%
80
.0
%
80
. 0%
8.7%
7.6% 7.9% 8.6% 8.4%
60
.0
%
7.4% 7.3%
60
. 0%
41.5% 41.2%
40.5% 39.6% 40.4% 40.2%
56.0% 65.4% 74.6% 81.7% 86.3% 87.3% 84.9% 87.7% 40.8%
40
.0
%
40
. 0%
41.9%
7.5% 7.4%
8.0% 8.0% 7.5% 7.7%
20
.0
%
20
. 0%
5.0% 7.2%
6.5% 3.0% 23.2% 23.9% 28.0% 23.5% 28.7%
16.9% 11.8% 1.1% 15.9% 17.7% 20.0%
0.0%
0.7% 1.5% 0.5% 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Investment Working Capital Consumptive Agribusiness Industry Manufacturing Trading, Hotel & Rest. Business Services Others
Collectability Restructuring Status
10
5. 0
%
12
0. 0
%
0.8%
10. 0
%
1.2% 1.5% 1.7% 2.5% 2.41%
10. 0
%
3.3% 6.0%
2.5% 2.95% 3.03% 10.4% 6.9% 6.1% 7.8%
3.5% 3.0% 4.0% 17.8%
25.6%
5.7%
95
. 0%
6.87% 6.56% 6.82%
80
. 0%
90
. 0%
60
. 0%
96.7% 96.7% 89.6% 93.1% 93.9% 92.2% 94.0%
85
. 0%
95.3% 95.5% 94.3% 40
. 0%
82.2%
91.8% 91.0%
74.4%
90.2% 90.2%
80
. 0% 20
. 0%
75
. 0% 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Current SML NPL Non Restructured Restructured
Note: All numbers are bank only, unless stated as consolidated 63
Page 64
LOAN DETAIL: CONSUMER LOANS
Product Breakdown (Rp Tn) % Product Composition
Growth YoY
250
.0 12
0. 0
%
197.0 10.8%
192.2
182.4
10. 0
%
200
.0
177.7 4.9% 4.6% 3.6% 4.1% 4.4% 4.5% 4.4% 4.4%
8.6 8.7 11.4%
161.7 8.1
143.7 149.4 7.8 23.0% 24.9% 26.2% 27.2% 28.2% 28.7% 28.3% 28.9%
140.5
80
. 0%
6.6 55.1 56.5 12.5%
150
.0
6.6 5.4 51.5 50.2
6.9 44.0
32.3 35.7 39.1 60
. 0%
100
.0
40
. 0%
72.1% 70.5% 70.2% 68.7% 67.3% 66.9% 67.3% 66.7%
122.8 128.5 119.7 131.8 10.1%
50.0
101.3 101.3 104.8 111.1 20
. 0%
- 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Salary-Based Mortgage Credit Card & Others Salary-Based Mortgage Credit Card & Others
Collectability Restructuring Status
10
5. 0
%
11
0. 0
%
10. 0
%
1.1% 1.5% 1.8% 1.8% 2.0% 2.1% 2.1% 2.1% 1.1%
2.1%
10. 0
%
2.5% 2.7% 2.2% 7.0% 5.3% 3.0% 2.4% 3.8%
2.8% 2.8% 2.8% 3.6% 2.9% 8.3%
95
. 0%
90
. 0%
80
. 0%
90
. 0%
98.9% 97.9%
70
. 0%
96.4% 95.8% 96.0% 93.0% 94.7% 97.0% 97.6% 96.2%
85
. 0%
95.4% 95.2% 95.1% 94.3% 95.0% 91.7%
60
. 0%
80
. 0%
50
. 0%
75
. 0% 40
. 0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Current SML NPL Non Restructured Restructured
Note: All numbers are bank only, unless stated as consolidated 64
Page 65
LOAN DETAIL: SMALL LOANS
Business Sector Use of Loan
12
00. %
12
0. 0
%
100. %
10. 0
%
10.8% 8.4% 7.8% 7.9% 8.7% 8.9% 8.3% 9.1%
6.2% 6.2% 6.3% 7.1% 7.0% 7.2% 7.0% 7.2% 80
.0
%
80
. 0%
60
.0
%
60
. 0%
86.9% 86.5% 86.5% 86.1% 85.4% 85.4% 85.4% 85.3%
67.9% 69.0% 71.5% 69.3% 67.0% 66.0% 67.6% 65.4%
40
.0
%
40
. 0%
20
.0
%
20
. 0%
8.5% 8.6% 5.7% 6.1% 6.5% 6.6% 6.5% 6.7%
8.7% 9.6% 10.8% 11.3% 10.6% 11.5% 13.1% 13.5% 13.5% 13.9% 14.6% 14.6% 14.6% 14.7%
0.0% 6.5% 7.8% 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Agribusiness Industry Manufacturing Trading, Hotel & Rest. Investment Working Capital
Business Services Others
Collectability Restructuring Status
12
0. 0
%
10
5. 0
%
10. 0
%
3.04%
10. 0
%
3.2% 3.6% 4.0% 4.3% 4.88% 5.05% 4.58% 10.7% 12.4% 12.2%
3.2% 14.2% 16.3%
4.6% 3.4% 5.30% 23.2%
95
. 0%
4.3% 5.15% 5.98% 6.06% 80
. 0%
36.9%
46.1%
90
. 0%
85
. 0%
60
. 0%
80
. 0%
75
. 0%
92.2% 93.2% 92.5% 89.3% 85.8% 87.6% 83.7% 87.8%
70
. 0%
91.4% 90.0% 89.0% 89.4% 91.7% 40
. 0%
76.8%
63.1%
65
. 0%
53.9%
20
. 0%
60
. 0%
55
. 0% 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24
Current SML NPL Non Restructured Restructured
Note: All numbers are bank only, unless stated as consolidated 65
Page 66
LOAN DETAIL: MEDIUM LOANS
Business Sector Use of Loan
12
0. 0
%
12
00. %
10. 0
%
6.0% 5.5% 5.5% 5.8% 6.5% 7.3% 6.2% 6.5%
5.5% 5.6% 5.9% 6.3% 6.1% 6.1% 6.5% 6.4% 100. %
80
. 0%
7.5% 7.0% 6.9% 6.6% 5.0% 5.2% 5.3% 5.2%
31.1%
80
.0
%
60
. 0%
34.2% 33.6% 38.0% 40.9% 40.9% 39.1% 40.0%
63.6% 66.0% 70.1% 69.7%
60
.0
% 74.3% 74.7% 75.0% 73.5%
40
. 0%
19.8% 16.3% 16.1% 15.0% 14.7% 13.8% 15.0% 14.1%
20
. 0% 15.0% 16.7% 17.4% 16.0% 15.3% 15.6% 16.4% 16.3% 40
.0
%
0.0%
15.2% 14.8% 14.6% 12.3% 11.6% 11.0% 11.5% 11.5%
36.4%
20
.0
%
34.0% 29.9% 30.3% 26.5%
2019 2020 2021 2022 2023 1H24 9M23 9M24 25.7% 25.3% 25.0%
0.0%
Agribusiness Industry Manufacturing Construction 2019 2020 2021 2022 2023 1H24 9M23 9M24
Trading, Hotel & Rest. Distribution & Warehouse Business Services
Others Investment Working Capital
Collectability Restructuring Status
12
0. 0
%
10
5. 0
%
10. 0
%
3.6% 2.3% 2.56% 1.75% 2.2% 1.94% 10. 0
%
5.9% 5.9%
5.4% 4.6% 2.5% 2.72% 1.4% 9.2% 8.2% 9.5%
3.1% 2.52% 4.18% 18.6%
26.2%
95
. 0%
3.0% 3.1% 80
. 0%
32.2%
90
. 0%
60
. 0%
85
. 0%
95.2% 94.9% 95.5% 96.4% 90.8% 91.8% 94.1% 90.5% 94.1%
93.9%
80
. 0%
91.6% 92.3% 93.4% 40
. 0%
81.4%
67.8% 73.8%
75
. 0%
20
. 0%
70
. 0%
65
. 0% 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Current SML NPL Non Restructured Restructured
Note: All numbers are bank only, unless stated as consolidated 66
Page 67
LOAN DETAIL: CORPORATE
Business Sector Use of Loan
12
0. 0
% 12
00. %
10. 0
%
7.7% 7.8% 16.1% 15.6% 17.5% 13.9%
100. %
6.1% 5.6% 20.5% 19.7%
80
. 0%
10.2% 8.9% 7.5% 6.5% 8.3% 8.8%
11.4% 11.7% 12.5% 12.3% 28.9% 28.6%
12.7% 18.5% 12.4% 10.3% 80
.0
%
41.7% 43.3% 40.3% 41.9% 44.2%
60
. 0% 9.4% 9.4% 53.1%
19.5% 19.2% 13.9% 15.3%
24.4% 14.3% 13.4%
26.7% 60
.0
%
40
. 0%
5.7% 26.3% 21.9% 21.5% 19.1%
5.5% 26.0% 20.7%
20
. 0%
33.2% 3.7% 6.9% 13.5% 10.9% 14.0% 15.0% 40
.0
%
27.1% 71.1% 71.4%
14.9% 14.1% 14.6% 12.6% 14.0% 11.1% 58.3% 56.7% 59.7% 58.1% 55.8%
46.9%
0.0%
20
.0
%
2019 2020 2021 2022 2023 1H24 9M23 9M24
Agribusiness Mining Industry Manufacturing 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24
Electricity, Gas & Water Construction Trading, Hotel & Rest.
Others Investment Working Capital
Collectability Restructuring Status
10
5. 0
% 12
0. 0
%
5.2% 6.7% 4.7% 3.9% 3.1% 4.7% 3.0%
95
. 0% 7.6% 4.1% 5.3% 10. 0
%
5.0% 4.3% 4.7% 4.9% 10.3% 10.3% 9.7%
2.8% 6.9% 21.8% 25.3% 21.4% 13.4% 22.3%
85
. 0% 80
. 0%
75
. 0% 60
. 0%
89.8% 89.6% 91.0% 91.5% 92.8% 90.4% 91.7% 89.7% 89.7% 90.3%
65
. 0%
86.4% 40
. 0%
78.2% 74.7% 78.6% 86.6% 77.7%
55
. 0% 20
. 0%
45
. 0% 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24 2019 2020 2021 2022 2023 1H24 9M23 9M24
Current SML NPL Non Restructured Restructured
Note: All numbers are bank only, unless stated as consolidated 67
Page 68
INCOME STATEMENT – BANK ONLY
Profitability From Business Operation Efficiency and Moderated Credit Cost
(Rp Bn)
Items 3Q24 2Q24 1Q24 3Q23 g QoQ g YoY 9M24 9M23 g YoY
Interest Income 40,554 39,842 41,184 38,267 1.8% 6.0% 121,579 108,712 11.8%
Interest from Loans 35,664 34,891 35,185 34,080 2.2% 4.6% 105,740 95,012 11.3%
Int. from Other Earning Assets 4,889 4,950 5,998 4,186 -1.2% 16.8% 15,838 13,699 15.6%
Interest Expense (12,701) (13,164) (12,773) (9,517) -3.5% 33.5% (38,638) (26,921) 43.5%
Net Interest Income 27,852 26,678 28,411 28,749 4.4% -3.1% 82,941 81,791 1.4%
Fee & Other Opr. Income 14,824 14,666 11,695 9,879 1.1% 50.1% 41,185 29,895 37.8%
Gross Operating Income 42,676 41,344 40,106 38,628 3.2% 10.5% 124,126 111,686 11.1%
Operating Expenses (16,704) (16,080) (13,365) (13,629) 3.9% 22.6% (46,148) (41,207) -10.7%
Pre-Provision Operating Profit 25,973 25,264 26,741 24,999 2.8% 3.9% 77,977 70,479 10.6%
Provision Expenses (8,991) (6,915) (9,498) (8,603) 30.0% 4.5% (25,404) (21,195) -16.6%
Non-Operating Income (Net) 34 3 (113) (391) 1224.4% 108.7% (77) (445) 477.7%
Profit Before Tax n Minor. Int. 17,015 18,352 17,130 16,005 -7.3% 6.3% 52,497 48,840 7.5%
Tax Expense (3,589) (3,904) (3,330) (3,268) -8.1% 9.8% (10,823) (9,837) 10.0%
Net Profit 13,426 14,448 13,799 12,737 -7.1% 5.4% 41,673 39,003 6.8%
Note: all numbers are bank only, unless stated as consolidated 68
Page 69
OTHER OPERATING INCOME & OPERATING EXPENSES – BANK ONLY
Positive Other Operating Income Growth with Manageable Operating Expenses
Other Operating Income
(Rp Bn)
Items 3Q24 2Q24 1Q24 3Q23 g QoQ g YoY 2023 2022 2021
Fees and Commissions 5,756 5,666 5,306 5,125 1.6% 12.3% 20,292 18,470 16,548
Recovery of Written-Off Assets 7,388 5,431 4,159 4,084 36.0% 80.9% 16,275 11,857 8,918
Gain on Sale of Securities - Net 652 485 370 409 34.3% 59.6% 1,793 1,431 3,190
Gain on Foreign Exchange - Net 386 195 220 34 98.1% 1018.1% 429 993 1,736
Unrealized Gain on Changes in Fair Value of Securities 23 36 134 -70 -35.9% -133.1% 89 50 -
Others 619 2,853 1,506 297 -78.3% 108.7% 3,850 5,520 2,008
Total Other Operating Income 14,824 14,666 11,695 9,879 1.1% 50.1% 42,728 38,320 32,401
Operating Expenses
(Rp Bn)
Items 3Q24 2Q24 1Q24 3Q23 g QoQ g YoY 2023 2022 2021
Personnel 7,251 8,152 6,836 7,648 -11.0% -5.2% 26,519 29,316 29,961
General and Administration 5,622 5,258 5,086 4,831 6.9% 16.4% 21,020 19,039 17,693
Losses from sale of Securities and Govt. Bonds - - - - - - - - 34
Promotion 545 490 458 621 11.1% -12.3% 2,590 2,411 2,005
Others 3,487 2,180 984 529 59.9% 558.8% 6,917 5,852 5,085
Total Operating Expenses 16,904 16,080 13,365 13,629 5.1% 24.0% 57,046 56,618 54,778
Note: all numbers are bank only, unless stated as consolidated 69
Page 70
3Q24
BANK ONLY LOAN QUALITY
70
Page 71
LOAN QUALITY – BANK ONLY
Classified Loan, Write Off, and Recovery
Non-Performing Loan – by Segment NPL Coverage (Rp Tn)
120
.0 35
00. %
291.5%
278.1%
NPL 9M24 9M23 1H24 2023 2022 2021 2020 2019 100
.0
300. %
248.0%
Micro 3.03% 2.41% 2.95% 2.47% 1.74% 1.49% 0.83% 1.18% 215.27% 217.7% 25
00. %
80.0
200.52% 203.11%
166.6% 20.0%
Consumer 2.08% 2.10% 2.13% 1.97% 1.83% 1.78% 1.49% 1.10% 60.0
15
00. %
Small 4.64% 4.58% 5.05% 4.88% 4.30% 4.05% 3.61% 3.17% 80.9 84.6 79.8
77.0 77.7
40.0
75.1 100. %
64.1
Medium 1.94% 2.16% 1.75% 2.56% 2.26% 3.57% 4.61% 5.38% 38.7
37.5 37.0
20.0
29.1 29.0 35.8 36.7 50
.0
%
22.5 25.9
Corporate 2.52% 4.66% 3.07% 3.86% 4.68% 6.68% 7.57% 5.18% - 0.0%
2019 2020 2021 2022 2023 1H24 9M23 9M24
Total NPL 3.04% 3.23% 3.21% 3.12% 2.82% 3.08% 2.94% 2.62%
Provision NPL NPL Coverage
Special Mention – by Segment Write Off & Recovery (Rp Tn)
45.0 70
. 0%
60.94% 59.12%
SML 9M24 9M23 1H24 2023 2022 2021 2020 2019 40.0
55.91%
52.43% 60
. 0%
35.0 49.18% 49.43%
Micro 6.82% 6.56% 6.87% 5.72% 3.95% 3.03% 2.47% 3.51% 30.0 41.10% 43.5% 50
. 0%
40
. 0%
Consumer 2.92% 3.61% 2.77% 2.84% 2.76% 2.20% 2.69% 2.52%
25.0
20.0
30
. 0%
Small 5.89% 6.06% 5.98% 5.15% 4.30% 3.42% 3.19% 4.63% 15.0
33.1 30.4
24.5
20
. 0%
Medium 4.18% 1.43% 2.72% 2.52% 2.55% 3.08% 3.07% 2.97%
10.0
17.0 20.2 19.4
13.7 14.6 16.3 17.0
11.9
10
. 0%
5.0
8.9 9.6 10.6
7.0 7.2
Corporate 3.84% 4.88% 4.11% 4.67% 4.32% 6.94% 2.85% 5.04% - 0.00
%
2019 2020 2021 2022 2023 1H24 9M23 9M24
Total SML 5.30% 5.53% 5.35% 4.87% 3.87% 3.70% 2.75% 3.93%
Write Off Recovery Income Recovery Rate
Note: All numbers are bank only, unless stated as consolidated 71
Page 72
LOAN DETAIL: QUARTERLY DOWNGRADE TO NPL
Loan Highlights 100.0% USD
Medium
Consumptive
Others
90.0%
• Total downgrade from 1H24 to 9M24 was Rp11.4 Tn with detail as
Business
follows: Small Services
80.0% Working
Capital
• The downgrade was all from MSME Segment, which was
70.0%
mostly driven by Micro of 59.1% and Small of 30.6%
• The downgrade was primarily from Trading, Restaurant, and Consumer
60.0%
Trading,
Hotel (53.3%) and Agribusiness (19.1%) Restaurant,
50.0% and Hotel Rp
• 65.3% was investment loan while the rest were from working
capital loan of 26.4% and consumptive loan of 8.3%
40.0%
• 99.8% was IDR loan
Investment
30.0%
Micro
Manufacturing
20.0%
10.0%
Agribusiness
0.0%
Segment Business Sector Use of Loan Currency
Note: All numbers are bank only, unless stated as consolidated 72
Page 73
LOAN DETAIL: QUARTERLY DOWNGRADE TO STAGE 2
Corporate
Loan Highlights 100.0% USD
Medium
Others Consumptive
90.0%
• Total downgrade from Stage 1 in 1H24 to Stage 2 in 9M24 was
Business Working
Rp16.5 Tn with detail as follows: Small
80.0% Services Capital
• The downgrade was mostly from MSME Segment, driven by
Micro of 61.1% and Small of 27.4% 70.0%
Consumer
• The downgrade was primarily from Trading, Restaurant, and
60.0% Trading,
Hotel (49.7%) and Agribusiness Sector (19.3%) Restaurant, Rp
50.0%
and Hotel
• 66.4% was investment loan while the rest were from working
capital loan of 24.3% and consumptive loan of 9.3%
40.0%
• 97.0% was IDR loan Investment
Micro
30.0%
Manufacturing
20.0%
Agribusiness
10.0%
0.0%
Segment Business Sector Use of Loan Currency
Note: All numbers are bank only, unless stated as consolidated 73
Page 74
QUARTERLY NPL FORMATION
Micro (Rp Bn) Medium (Rp Bn)
Micro 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Medium 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24
NPL Begin 7,816 10,206 10,482 11,571 12,241 13,492 14,615 NPL Begin 473 493 755 666 826 756 633
Net DG to NPL 3,829 6,450 4,393 5,746 7,250 5,956 5,405 Net DG to NPL 173 466 374 177 33 257 332
Write Off 1,439 6,175 3,304 5,075 5,998 4,833 5,005 Write Off 152 204 463 17 103 380 249
NPL ending 10,206 10,482 11,571 12,241 13,492 14,615 15,015 NPL ending 493 755 666 826 756 633 716
NPL formation % 5.14% 7.88% 6.05% 7.35% 8.29% 7.49% 7.29% NPL formation % 5.23% 9.69% 8.61% 4.99% 2.89% 5.21% 5.63%
NPL % 2.24% 2.23% 2.41% 2.47% 2.69% 2.95% 3.03% NPL % 2.06% 2.70% 2.16% 2.56% 2.21% 1.75% 1.94%
Consumer (Rp Bn) Corporate (Rp Bn)
Consumer 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Corporate 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24
NPL Begin 2,956 3,367 3,461 3,735 3,599 4,112 4,103 NPL Begin 8,451 8,229 9,460 10,319 7,988 7,614 7,743
Net DG to NPL 842 943 1,135 813 1,052 680 791 Net DG to NPL (222) 1,818 1,086 (2,331) 130 129 (19)
Write Off 431 849 862 949 540 690 793 Write Off - 587 227 - 504 - 1,271
NPL ending 3,367 3,461 3,735 3,599 4,112 4,103 4,101 NPL ending 8,229 9,460 10,319 7,988 7,614 7,743 6,452
NPL formation % 3.83% 4.27% 4.70% 4.04% 4.22% 3.64% 3.82% NPL formation % 4.21% 8.24% 7.01% 0.49% 3.88% 3.50% 3.22%
NPL % 2.01% 2.02% 2.10% 1.97% 2.20% 2.13% 2.08% NPL % 4.19% 4.83% 4.66% 3.86% 3.33% 3.07% 2.52%
Small (Rp Bn) All Segments (Rp Bn)
Small 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 All Segments 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24
NPL Begin 9,316 9,832 9,648 10,366 11,120 12,611 11,643 NPL Begin 29,012 32,127 33,806 36,656 35,773 38,585 38,737
Net DG to NPL 2,899 3,977 3,952 3,332 3,946 2,935 2,701 Net DG to NPL 7,520 13,655 10,940 7,737 12,411 9,957 9,209
Write Off 2,383 4,161 3,233 2,578 2,455 3,902 3,644 Write Off 4,405 11,976 8,090 8,620 9,599 9,804 10,962
NPL ending 9,832 9,648 10,366 11,120 12,611 11,643 10,700 NPL ending 32,127 33,806 36,656 35,773 38,585 38,737 36,984
NPL formation % 9.58% 11.66% 11.44% 10.58% 11.69% 10.56% 9.74% NPL formation % 5.71% 8.20% 7.19% 6.16% 7.33% 6.63% 6.34%
NPL % 4.45% 4.29% 4.58% 4.88% 5.44% 5.05% 4.64% NPL % 3.02% 3.10% 3.23% 3.12% 3.27% 3.21% 3.04%
Note: All numbers are bank only, unless stated as consolidated.
NPL Formation formula is based on internal calculation 74
Page 75
WRITE OFF AND RECOVERY PER SEGMENT
Write Off (Rp Tn) Recovery Income (Rp Tn)
33.1 18.0
17.0
16.3
35.0
0.8 0.8 30.4 16.0
30.0
9M23 9M24
0.8 1.8
0.8 14.0
24.5 11.9 5.9 10.6 17.0
25.0
12.4 6.2
0.8 12.0
10.6 10.6 0.2 0.2
20.2 19.4 10.0
0.5 9.6
20.0
1.5
10.0
8.9
3.1 9.8 4.8 0.2 0.3
13.7 14.6 2.0 7.2
15.0
6.4 0.5 8.0
4.3 3.5 4.3
1.3 1.3 8.3 3.1 4.3 5.9
1.2 2.1 6.0
5.6 2.4
9.8
10.0
4.6 2.1 16.0 15.8 4.0 8.7 0.6 0.8
1.2 1.5 6.0
5.0
10.8 10.9 4.6 5.4 5.4 5.4
5.9 7.6 2.0
3.9 5.4 9.8
5.4
- -
2020 2021 2022 2023 1H24 9M23 9M24 2020 2021 2022 9M23 2023 1H24 9M23 9M24
Micro Consumer Small Medium Corporate Micro Consumer Small Medium Corporate
Credit Cost Recovery Rate
4.00 %
3.42% 3.49%
3.50 %
3.28% 3.30% 2020 2021 2022 2023 1H24 9M23 9M24
3.00 %
2.47% 2.38% 2.47% Micro 72.8% 77.6% 78.6% 54.6% 50.1% 49.2% 61.6%
2.50 %
Consumer 33.8% 39.7% 37.6% 27.3% 38.9% 28.3% 41.6%
2.00 %
2.45% 2.45%
1.50 %
Small 52.6% 56.1% 57.9% 50.1% 54.9% 43.7% 59.2%
1.87%
1.00 %
1.40% Medium 27.6% 107.6% 29.0% 28.4% 24.8% 20.5% 42.1%
1.28% 1.16%
0.50 %
0.89% Corporate 6.2% 12.8% 9.5% 32.7% 15.5% 27.4% 8.6%
0.00 %
2020 2021 2022 2023 1H24 9M23 9M24 Total 52.4% 60.9% 59.1% 49.2% 49.4% 43.3% 55.9%
CoC % Coc Net %
Note: All numbers are bank only, unless stated as consolidated 75
Page 76
LOAN QUALITY – BANK ONLY
Loan at Risk Continues to Decline Coupled with More Adequate Provisioning
Loan at Risk (% to Total Loan) Total Restructured Loans (% to Total Loan)
35
. 00
%
29.77% 30
. 00
%
27.16% 26.19%
30
. 00
%
28.26%
24.11% 25
. 00
%
21.77%
25
. 00
%
20
. 00
%
20
. 00
% 17.11%
22.07% 14.35%
21.19% 22.07% 21.19%
16.63% 12.54% 12.11% 11.76%
15
. 00
%
15
. 00
%
16.63%
8.94%
10.41% 2.64% 2.13% 10
. 00
% 7.59% 7.33%
10
. 00
%
4.75% 10.41%
4.75% 2.64% 2.13%
5.00%
7.69% 7.07% 7.48% 7.79% 9.48% 9.62% 5.00%
6.70% 5.09% 4.99% 5.14% 4.95% 5.20%
0.00%
3.94% 4.19%
0.00%
9M20 2020 2021 2022 2023 1H24 9M24 9M20 2020 2021 2022 2023 1H24 9M24
LAR Non Covid-19 Restru Covid-19 Total LAR Restru Non Covid-19 Restru Covid-19 Total Restru
LAR & LAR Coverage (Inc. Covid-19) Total Restructured Loans by Collectability
12
0. 0%
10. 0%
53.59% 7.03% 7.63% 9.42% 11.36%
60
. 00
%
53.12% 52.53% 6.17% 19.18% 18.68% 17.48%
48.00% 13.77% 10.98%
50
. 00
%
80
. 00
%
16.04%
40
. 00
%
35.56% 29.95% 34.45% 35.99%
60
. 00
%
29.77% 28.26%
30
. 00
%
40
. 00
%
79.20% 86.20% 79.60%
20
. 00
%
72.60%
25.77% 24.11% 50.87% 46.87% 46.53%
21.84% 20
. 00
%
10
. 00
%
17.11%
12.54% 12.11% 11.76%
0.00% 0.00%
9M20 2020 2021 2022 2023 1H24 9M24 9M20 2020 2021 2022 2023 1H24 9M24
LAR LAR Coverage Current SML NPL
76
Page 77
OTHERS
77
Page 78
MICRO ASSET QUALITY REMAINS ELEVATED, MACRO
PRESSURES SUBSIDING
Food Inflation vs Asset Quality vs Credit Cost
20.0% 8.0%
7.31% 7.29%
18.0%
7.0%
16.0%
5.69% 6.0%
14.0%
5.0%
12.0%
10.0% 4.0%
8.0%
3.49% 3.30% 3.0%
6.0%
2.38% 2.0%
4.0%
1.0%
2.0%
0.0% 0.0%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1H24 9M24
Food Inflation lagged T-1 BRI Micro NPL + Write Off Credit Cost
Note: all numbers are bank only, unless stated as consolidated 78
Page 79
MORE INSULATED FROM RECENT GLOBAL EVENTS
Liquidity & Capital Management Remain Conservative
LCR & NSFR Bond Classification (Rp Tn, % Composition)
300. %
400
.0 372.0
347.1
350
.0
327.6 5.1% 330.3 331.1
6.4% 6.8% 10.1% 295.0
300
.0
8.4%
8.3%
25
00. % 241.0% 250
.0
54.2%
228.5% 195.8 45.7% 49.3% 49.4%
227.1% 57.9%
200
.0
9.0% 49.8%
150
.0
199.4% 100
.0
63.4%
200. %
40.7% 48.0% 43.9% 40.6%
50.0
33.7% 42.0%
27.6%
168.1% -
162.5%
151.9% 155.9% 2019 2020 2021 2022 2023 1H24 9M24
15
00. %
HTM AFS Trading
149.3%
136.8%
142.3% Non-Loan Earning Assets/ Total Earning Assets
135.9% 135.2% 131.8% 130.3%
125.8% 3,500 40
.0
%
34.4%
100. %
32.5% 31.6%
3,000
30.3% 29.3%
35
.0
%
26.9% 26.0% 30
.0
%
100% 2,500
25
.0
%
LCR & NSFR 1,791 1,828 1,830
1,666
2,000
1,512 1,589
Minimum regulatory
20
.0
%
50
.0
%
1,500
1,298
requirement 15
.0
%
1,000
546
10
.0
%
394 492 527 525 491 476
500
5.0%
- 0.0%
0.0%
2019 2020 2021 2022 2023 1Q24 1H24 9M24 2019 2020 2021 2022 2023 1H24 9M24
Non-Loan Earning Asset (Rp Tn) Earning Asset (Rp Tn)
LCR NSFR
% Non Loan to EA
79
Page 80
DIGITALIZATION SUPPORTING CASA
CASA vs Cost of Fund Source of CASA Growth
MERCHANT
68
. 00
% 5.00%
# Merchant EDC (in thousand) Sales Volume/ Merchant (Rp Mn) % Merchant EDC Market Share1
66.92%
80
693.5
354.8 620.7 636.0 650.1
40
330.4 336.7
70
30
. 0%
66
. 00
%
64.55% 35
0
60
3.58% 4.00% 30 490.5 25
. 0%
3.58% 3.57% 25
0
238.1 50
20
. 0%
17.8% 18.2% 16.2%
172.3 13.9%
3.22%
40
64
. 00
%
20
9.8%
15
. 0%
64.40% 30
2.89%
15
0
10
. 0%
20
63.30%
10
3.00%
62
. 00
%
61.00% 63.43% 50
10
5.0%
0 0 0.0%
2021 2022 2023 9M23 9M24 2021 2022 2023 9M23 9M24 2021 2022 2023 1H24 8M24
59.01%
60
. 00
%
2.00%
2.05% 1.87% BRIMO
58
. 00
%
1.00%
Generated Fee Income (Rp Bn) BRIMO Penetration Rate
56
. 00
%
2,150
.0 2,135.7 50
. 0%
44.6%
2,050
.0 45
. 0%
42.8%
54
. 00
% 0.00%
2019 2020 2021 2022 2023 1H24 9M24 1,950
.0 38.7%
40
. 0%
36.6%
1,850
.0
1,816.3 34.7%
CASA % COF 35
. 0% 32.4%
1,750
.0 30.4%
30
. 0%
1,650
.0
1,550
.0 25
. 0%
9M23 9M24 2022 1Q23 1H23 9M23 2023 1H24 9M24
BRIMO penetration rate used total customers of 83.4 Million as of 9M24
Note: All numbers are bank only, unless stated as consolidated 1) Data for EDC market share Sep’24 is not available 80
Page 81
LATEST REGULATIONS
KUR Regulation Consumers’ Protection Regulation
Ref. Coordinating Ministry of Economy Policy No. 1 dated 2023 On January 25 th, 2023 Ref. Financial Service Authority Policy POJK No. 22/2023
1. Borrowers must have never had a commercial loan The Financial Service Authority (FSA) has released new regulation in relation to Consumer
2. Restrictions on receiving KUR: and Community Protection in Financial Services Sector to improve consumers’ trust toward
financial services, as well as to provide development opportunities in a fair, efficient, and
a) Priority Sectors (Agribusiness, Livestock, Fishery, and Plantation): transparent manner. This includes, among others:
• KUR terms of max 4x (KUR facility is renewable up to 3x); or 1. Adjustment on the definition of Financial Services Business Players (FSBP) and
• Micro/ Small KUR: Max loan ceiling accumulation of Rp400 Mn/ Rp500 customer protection principles;
Mn, respectively 2. Prohibition of getting services from parties who do not have legal permission from
b) Other Sectors: FSA or competent authority;
• KUR terms of max 2x (KUR facility is renewable once); or 3. Rights and obligations of potential consumers, consumers, and FSBP as well as
• Micro/ Small KUR: Max loan ceiling accumulation of Rp200 Mn/ Rp500 prohibitions for FSBP;
Mn, respectively 4. Inclusions of costs and commissions to marketing agents/ intermediaries;
3. Lending rate charged to borrowers: 5. Mechanism for collection and collateral withdrawal by FSBP for loan & financing
product and services, as stipulated on Article 62 Paragraph (2) concerning FSBP is
a) KUR Super Micro: 3%
obliged to ensure collection is done :
b) KUR Small and Micro: Step-up lending rate
a. Not to use threats or violence and/or humiliating actions
• Initial financing: 6% b. Not to use physical or verbal pressure
• 1st refinancing: 7% c. Not to parties other than customers
• 2nd refinancing: 8% d. Not continuously in abusive manner
• 3rd refinancing: 9% e. At the customer’s billing address or domicile
f. Only from Monday to Saturday (excluding National Holidays) from 08.00 –
20.00 local time
Changes to RRR Incentives g. In accordance with the provisions of statutory regulations;
6. Adjustment on complaint service period;
Ref. Bank Indonesia Regulation (PADG) No. 4, 2024 7. Data protection and information system security;
Bank Indonesia provided additional RRR incentives of 100bps, increasing the total 8. Market conduct;
limit of RRR incentives from 300bps to 400bps through addition of maximum RRR 9. Strengthening regulations for the provision, delivery of information and marketing of
incentives for Banks which provide financing to certain sectors. As of 3Q24, our insurance products linked to investment
RRR stood at 4%. 10. Submission of objections to administrative sanctions issued by FSA for FSBP;
11. Strengthening the authority of FSA in carrying out civil lawsuits.
81
Page 82
BRI NETWORKS
The Most Extensive Network Across Indonesia
Branchless Network 2019 2020 2021 2022 2023 1H24 9M24 YtD Net Profit per Outlet (Rp Bn)
BRILink Agents 422,160 504,233 503,151 627,012 740,818 993,677 1,022,186 281,368
Office Type 2019 2020 2021 2022 2023 1H24 9M24 YtD 7.3 7.3
6.9
Head Office 1 1 1 1 1 1 1 0
5.8
Regional Office 19 19 18 18 18 18 18 0
Branch Office & Special Branch
462 462 451 449 453 453 453 0 3.7 3.7
Office
Branch Overseas Office 5 5 6 6 6 6 6 0
2.0
Sub-Branch Office 608 608 588 579 556 556 555 -1
Sub-Branch Overseas Office 3 3 3 3 3 3 3 0
BRI Units 5,382 5,382 5,222 5,156 5,117 5,116 5,087 -30
2019 2020 2021 2022 2023 1H24 9M24
Cash Office 568 547 525 506 505 506 502 -3
BRI Terrace 2,049 1,867 1,697 1,370 977 969 896 -81
Mobile BRI Terrace 133 132 132 117 115 74 69 -46 Outlets vs E-Channel Trx Composition
Ship BRI Terrace 4 4 4 4 4 4 4 0
10
1. 0
%
Total 9,234 9,030 8,647 8,209 7,755 7,706 7,594 -161 10. 0
%
99
. 0%
1.6% 1.4% 1.1% 1.0%
2.6%
E-Channel Type 2019 2020 2021 2022 2023 1H24 9M24 YtD
98
. 0%
97
. 0%
5.7%
ATM 19,184 16,880 14,463 13,863 12,263 12,243 12,214 -49 96
. 0%
EDC** 204,386 198,785 203,027 497,976 664,801 722,001 700,513 35,712
95
. 0%
98.4% 98.6% 98.9% 99.0%
94
. 0%
97.4%
CRM 3,809 5,809 7,407 8,007 9,007 9,007 9,007 0 93
. 0%
94.3%
e-Buzz 57 57 57 57 57 57 57 0
92
. 0%
91
. 0%
Total 227,436 221,531 224,954 519,903 686,128 743,308 721,791 35,663 2020 2021 2022 2023 1H24 9M24
E-Channel Outlet
*In accordance with POJK No. 12/POJK.03/2021 concerning Commercial Banks, there are adjustments for the types of BRI Unit
Offices, Teras BRI and BRI Cash Offices which are included in the category of Sub-Branch Offices. Here, the data is still E-channel transactions include ATM, CDM, BRIlinks,
separated. BRIMO, and Internet Banking.
** Since 2022, number of EDC includes government program, managed service, and partnership EDC
82
Page 83
BRI CREDIT RATINGS
Fitch Rating 2024 Moody's 2024
Long Term Rating BBB Counterparty Risk Rating Baa1/P-2
Short Term Rating F2 Bank Deposits Baa2/P-2
Viability Rating bbb- Baseline Credit Assessment baa2
Government Support Rating bbb Adjusted Baseline Credit Assessment baa2
National Long-Term Rating AAA Counterparty Risk Assessment Baa1(cr)/P-2(cr)
National Short-Term Rating F1+ Outlook Stable
Sovereign Risk BBB
Outlook Stable
S&P Global Rating 2024 PEFINDO 2024
Issuer Credit Rating BBB/Stable/A-2 Final Rating (National Rating) idAAA, Stable Outlook
Stand-Alone Credit Profile bbb- Stand Alone Rating idAA+ (sa)
Outlook Stable
83
Page 84
Thank You
PT BANK RAKYAT INDONESIA
(Persero) Tbk.
Investor Relations
7th floor BRI II Building
Jl. Jenderal Sudirman No. 44-46 Jakarta 10210
Indonesia
Phone : 62 21 5752019, 5751979
Website : www.ir-bri.com
Email : ir@bri.co.id
84
Names mentioned 7 people and organisations named in the text · linked when the evidence is strong
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org
Bank Only PPOP
p.6
unresolved
org
PT. PERMODALAN NASIONAL MADANI Leading Women’s Group Lender
p.37
unresolved
org
PT. PEGADAIAN Market Leader
p.38
unresolved
org
Ministry of Coorperatives and SMEs’s
p.54
unresolved
org
Financial Services Authority
p.57
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