Meanwhile, BRI’s Corporate segment loans were able to grow solidly, reaching IDR197.7 trillion, or growing 13.8% year on year. The growth of the Corporate segment was focused on efforts to strengthen wholesale funding and transaction banking such as trade finance, cash management and forex transactions as well as creating a pipeline for the MSME segment through optimizing the corporate business value chain. Apart from that, growth in the corporate segment was also driven by increased funding support from BRI Parent to Subsidiary Companies in order to optimize BRI Group synergies. In 2023, BRI owned a strategic focus on strengthening BRI’s retail banking capabilities, especially in terms of collecting a more stable and sustainable Current Account Savings Account (CASA). This strategy produced results in which consolidated BRI savings were able to grow 3.9% or to IDR1,358 trillion, with a CASA ratio of 64.35%, higher than the pre-pandemic period. Growth in low-cost CASA continued to be the main focus of BRI’s funding sources. CASA collection was supported by BRI’s strategy to increase customer transactions in the Retail and Wholesale segments. In the Retail segment, CASA collection was supported by optimizing transactions through BRILink Agents, mobile banking (BRImo) and digital payment platforms (BRI API), as well as expanding merchant acquiring acceptance. Meanwhile, in the Wholesale segment, CASA collection was optimized through the development of an integrated digital payment platform for corporate customers, namely Qlola, which provided comprehensive access to BRI wholesale banking services such as cash management, trade finance, supply chain management, foreign exchange, investment services and financial dashboard services. Strengthening CASA in the retail segment was also reflected in the increase in customer transactions on BRILink and BRImo Agent services which provided an optimal contribution to BRI’s profitability performance. During 2023, BRILink agents recorded a total of 1.1 billion transactions with a total value of IDR1,427 trillion, growing 10.0% year on year from last year. Apart from that, BRImo also recorded an increase in transaction value of 55.8% year on year, reaching IDR4.159 trillion. This solid performance was also demonstrated by achieving a net profit of IDR60.4 trillion or growing 17.54% year on year. BRI’s profitability performance achievement was driven by BRI’s net profit on a bank only basis of IDR53.1 trillion or growth of 11.1%. BRI’s profit growth is driven by efficiency gains and margin expansion. BRI’s topline performance was able to record impressive results. BRI’s consolidated Net Interest Income (NII) was able to grow 7.4% year on year. This growth resulted from management of loans and financing assets that provided competitive interest rates and optimal liquidity management. The BRI interest rate was reflected in the Basic Loan Interest Rate (SBDK) as follows: Table of Basic Credit Interest Rates (SBDK) as of December 31, 2023 Loan Segments Interest rate Micro Loans 14.00% Retail Loans 8.25% Consumer Loans (Housing Loans - Mortgage) 7.25% Consumer Loans (Non Housing Loans - Non Mortgage) 8.75% Corporate Loans 8.00% Meanwhile, the interest rates given on BRI savings products are as follows: Table of deposit counter rates as of December 31, 2023 Product IDR Interest Rate USD Interest Rate Current Accounts 0.00% - 2.00% 0.05% - 0.15% Savings 0.00% - 1.75% 0.08% - 0.25% Deposits 2.25% - 4.00% 1.00% - 2.25% PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 50
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