State-owned bank PT Bank Rakyat Indonesia, commonly referred to as BRI, has earned a place in Bloomberg Technoz’s “Top 20 Companies to Watch in 2024” list due to its strong performance fundamentals.
Bloomberg Technoz’s official statement highlighted their extensive analysis of over 900 publicly traded companies on the Indonesia Stock Exchange (IDX) across diverse sectors, including finance and technology.
This analysis, coupled with research from Bloomberg International, culminated in identifying companies with promising future prospects.
According to Bloomberg Technoz, BRI stands out for its consistent track record of delivering impressive profits, particularly fueled by its high-margin micro-segment.
The bank’s commitment to maintaining a substantial dividend payout further underscores its appeal, positioning it as a prominent player in the high dividend category.
Bloomberg’s consensus, drawing insights from 34 analysts, overwhelmingly recommended buying BRI’s shares, signaling confidence in its future performance.
With just one analyst suggesting holding, the consensus forecasts a potential target price for BRI’s shares to reach up to Rp6,414.64 within the next 12 months.
This recognition reflects BRI’s resilient performance amidst the complex global economic and geopolitical landscape. By the close of the first quarter in 2024, BRI boasted a consolidated profit of Rp15.98 trillion (US$994 million), a testament to its sound financial management and strategic initiatives.
During the press conference on BRI’s Financial Performance for the First Quarter of 2024, President Director Sunarso emphasized the bank’s commitment to supporting economic growth, particularly evident in its substantial credit disbursements.
As of March 2024, BRI disbursed credits totaling Rp1,308.65 trillion, with a significant portion allocated to micro, small, and medium enterprises (MSMEs), reflecting BRI’s pivotal role in fostering inclusive economic development.
The bank’s double-digit credit growth has also propelled an increase in its total assets, which reached Rp1,989.07 trillion, affirming BRI’s position as a cornerstone of Indonesia’s financial landscape.
