PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 3 In the midst of the economic recovery, PT Bank Rakyat Indonesia (Persero) Tbk. (BRI) managed to maintain performance fundamentals to grow in a healthy, strong and sustainable manner. BRI’s success in recording this brilliant performance became the result of a transformation strategy prepared since 2016 through the grand concept of BRIvolution 1.0. The program was started in 2017 and had been implemented until 2020. Since the onset of the pandemic, the transformation continued to become BRIvolution 2.0 focusing on two main areas, namely digital and culture. BRI’s vision was also changed to become The Most Valuable Banking Group in Southeast Asia. In addition, another focus was to become the Champion of Financial Inclusion. This was to restore BRI’s focus on its pathway in the MSME segment, including the Ultra Micro (UMi) business. Champion of Financial Inclusion was intended to maintain the company’s sustainable growth. BRI looked for new sources of growth. With a go smaller strategy, BRI targeted a business segment smaller than micro, namely ultra micro by extending credit with a smaller ticket size. BRI provided short tenors as needed or go shorter. In addition, BRI strengthened the digitization of its financial services so that services and business processes could go faster. That way, BRI can serve the community by providing wider, easier, faster and more affordable financial access. Annual Report 2021 Digitalization: Go Smaller, Go Shorter, Go Faster, Go Cheaper To provide banking services to various regions by Go Smaller, Go Shorter & Go Faster, BRI digitalization was carried out by referring to 3 (three) main frameworks, namely first, Digitizing Core or digitizing business processes with the aim of increasing productivity and focusing on efficiency. Second, Digital Ecosystems in which BRI prepared digital platforms to encourage BRI to enter the value chain ecosystem business so that it was expected to be a new source of growth for CASA, FBI and BRI’s new customers. Third, New Digital Propositions, in which BRI innovated financial technology with a fully digital approach and new business models that could provide services to customers faster, better and more efficiently. Through the transformation as well as the go smaller, go shorter and go faster strategy supported by digitalization, BRI had proven to be able to show solid performance by recording consolidated assets of IDR1,678.10 trillion or growing 4.23% YoY. As for the total credit and financing of the BRI Group, it reached a thousand trillion rupiah exactly at IDR1,042.87 trillion. The proportion of BRI’s MSME loans continued to climb, with 83.86% of BRI’s total lending being channeled to the MSME segment. This figure became an increase compared to the same period last year, and BRI would continue to increase this proportion to reach 85% by 2024.
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