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- 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 connected to Indonesian G government ID database.
The bank works hand-in-hand with customers in facing amid the COVID-19 crisis
The micro businesses segment which is a pillar of BRI’s business over the years is one of the most impacted group during this pandemic. Thus, the bank offered a loan restructuring programme to ensure the survival of borrowers’ ‘businesses during this difficult time. The bank also strengthened its digital products and channels to support all customer segments in line with the public health protocols.
About The Asian Banker International
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information on the collaterals for winning banks, please contact:
Mr. Mobasher Zein Kazmi
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