national level, BRI received an award as “Most Trusted Company” in the Corporate Governance Perception Index (CGPI) ranking event. BRI believed that the implementation of good governance became the main foundation for the company to achieve better performance, increase BRI value, guarantee the fulfillment of the rights of stakeholders and also increase investor confidence which ultimately created a sustainable BRI business. BRI also applied an Integrated Governance framework implemented in the parent company and in BRI’s subsidiary companies, as an effort to build a solid foundation for implementing Good Corporate Governance in the BRI Group. Ownership of The Board of Directors, Board of Commissioners and Shareholders in the Bank Business Group The Company’s management always maintains independence and integrity in carrying out its duties and responsibilities. Ownership of BBRI shares by the Board of Directors and Board of Commissioners (Non-Independent) became a part of the remuneration components, in line with regulations from the Ministry of State-Owned Enterprises of the Republic of Indonesia, with the aim of achieving sustainable performance. As of December 31, 2023, there was no significant share ownership by the Directors, Board of Commissioners and Shareholders in the BRI Bank Business Group, this data was as presented in the Share Ownership of Directors and Board of Commissioners section. Important Changes Occurring in Bank and Bank Business Groups in 2023 In line with BRI’s vision to become The Most Valuable Banking Group in Southeast Asia and Champion of Financial Inclusion, BRI maintains its commitment to strengthening the BRI Group’s strategies and synergies, to create added value for stakeholders. In accordance with the shareholder agreement, in 2023 FWD, as BRI’s strategic partner in BRI Life, made an additional investment in BRI Life. BRI’s share of ownership changed from 59.02% to 54.77%. BRI also added capital to PT BRI Ventura Investama (BVI) to strengthen BVI’s capital, where in terms of BRI’s share of ownership in BVI there was no significant change in ownership. Looking forward, BRI is fully committed to encouraging the performance and contribution of BRI Subsidiaries, through increasing net profit and fee based income of BRI Subsidiaries, so that they can be a driver of BRI’s future growth in a sustainable manner. Assessment of Committees Under the Board of Directors The Company has formed and determined the structure and members of Committees under the Board of Directors to support the implementation of the Board of Directors’ duties. The function of these Committees was to facilitate monitoring and increase the effectiveness of problem solving and development of aspects considered strategic by the Company, in accordance with applicable regulations. These Committees included: 1. Capital & Investment Committee 2. Human Capital Committee 3. Information Technology Steering Committee 4. Procurement Committee 5. Credit Policy Committee 6. Product Committee 7. Project Management Office Steering Committee 8. Risk Management Committee 9. Environmental, Social & Governance Committee To evaluate the performance of committees under the Board of Directors in supporting company management, regular assessments were carried out by the Board of Directors. In 2023, the Board of Directors assessed that the implementation of the duties of the Board of Directors Committee supporting the duties and responsibilities of the Board of Directors had been carried out in accordance with the provisions and with good quality. This evaluation included the frequency of meetings, discussion material on the committee agenda, and follow-up improvements to the results of committee discussions. Changes in the Composition of Board of Directors Members During 2023, there was no changes in the composition of members of the Board of Directors. However, the Annual General Meeting of Shareholders on March 13, 2023 decided: 1. Respectfully removed the names below as Company Management: 1) Sunarso as President Director 2) Supari as Director of Micro Business 3) Ahmad Solichin Lutfiyanto as Director of Compliance 2. Appointed the names below as Company Management: 1) Sunarso as President Director 2) Supari as Director of Micro Business 3) Ahmad Solichin Lutfiyanto as Director of Compliance PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 56
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