PR97643

JAKARTA, Indonesia, Sept. 2, 2022 /PRNewswire=KYODO JBN/ --

PT Bank Rakyat Indonesia (Persero) Tbk. (IDX: BBRI) is implementing a buyback

of its shares to a maximum total value of IDR 3 trillion from 1 March 2022

until 31 August 2023. BRI obtained the approval from its shareholders to carry

out the buyback through the Annual General Meeting of Shareholders (AGM) on 1

March 2022, in accordance with the Disclosure of Information, where the shares

will be used for the BRI employees.

BRI President Director Sunarso said that the company already considered the

liquidity condition so as not to disrupt the company's finances. "The buyback

of BRI shares is projected to increase the motivation of BRI's employees to be

more optimal in achieving targets, thus increasing the company's performance."

"In addition, the buyback will be used for the need of treasury stock, which

will ultimately be used as long-term performance incentives for high-performing

employees. We see that BRI's share price is still undervalued, especially

compared to the company's performance achievements. This affirms us to continue

to do the buyback," added BRI Finance Director Viviana Dyah Ayu.

CSA Research Institute Senior Analyst, also the Secretary General of the

Indonesian Securities Analysts Association (AAEI) Reza Priyambada is optimistic

about the corporate action that illustrates BRI's management strategy for

economic recovery and projected future performance in Indonesia. The buyback

will support the company's growth as employees will be more motivated if they

own shares of the company. "This will further support BRI's growth if we

believe this economic recovery will continue, and the Indonesians are

persistent with their work."

BRI's positive performance was reflected in a recorded net profit of IDR 24.88

trillion or grew 98.38% year-on-year (YoY) in Q1 2022. Meanwhile, total assets

increased 6.37% YoY to IDR1,652.84 trillion. On a consolidated basis, lending

reached IDR1,104.79 trillion or grew 8.75% YoY.

BRI's MSME loan portfolio grew 9.81% from IDR 837.82 trillion in June 2021 to

IDR 920 trillion in June 2022, which increased the proportion of MSME loans to

83.27% of the total financing portfolio.

This achievement was accompanied by sound risk management, with a consolidated

non-performing loan (NPL) ratio maintained at 3.26%. BRI's management also has

prepared anticipatory measures for potential loan quality deterioration, with

an NPL coverage of 266.26%.

For more information, visit www.bri.co.id  (http://www.bri.co.id/).

SOURCE PT Bank Rakyat Indonesia Tbk (BRI)

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