Management Discussion and Analysis on Bank Performance Net income in 2023 reached IDR60.43 trillion, an increase of 17.54% yoy compared to 2022 which reached IDR51.41 trillion. The growth in consolidated net income was driven by the growth of the Company’s net profit on bank only basis which was recorded at IDR53.15 trillion or grew by 11.13% yoy compared to 2022 of IDR47.83 trillion, along with the positive contribution of all subsidiaries so that the aggregate profits of subsidiaries increased. 39.65% yoy or an increase of IDR2.08 trillion. PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 184
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