• BRI has maintained a sustainable retail banking franchise with a strong customer focus
• The bank promotes financial inclusion through innovation.
• The bank works hand-in-hand with customers amid the COVID-19 crisis

Singapore, 25 August 2020 — Bank Rakyat Indonesia (BRI) received Best Retail Bank in the Indonesia at The Asian Banker International Excellence in Retail Financial Awards 2020.

BRI has maintained a sustainable retail banking franchise with a strong customer focus

In 2019, the bank exhibited a solid retail banking business backed by consistent revenue growth and profitability. The bank has maintained a healthy return on equity (ROE) compared to other peers, while it has also decreased its cost-to-income ratio to below 40%. In 2019, the bank achieved a double-digit deposit growth and one of the highest retail deposits per branch by strengthening its value proposition and optimising its branchless banking or BRI Link Agent. Moreover, its retail banking fee income has grown by over 40% year on year (YoY), propelled by the massive increase in its internet banking transactions.

The bank promotes financial inclusion through innovation

BRI expanded its reach in rural areas for both consumer and micro segment through digital products. In 2019, the bank introduced an industry first digital loan product called Ceria in line with the evolving needs of the consumers. The product is backed with digital verification, digital scoring, and digital signature system which has brought down loan application process to 10 minutes and kept non-performing loans (NPLs) at zero as of first quarter 2020. It also launched Pinang which is a self-service and end-to-end digital microfinancing product that eliminated manual processes through facial recognition and big data that was co...

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