Bank Rakyat Indonesia

Not to be confused with Bank Rakyat.

PT Bank Rakyat Indonesia (Persero) Tbk.

Type	Public
Traded as	IDX: BBRI
Industry	Financial Services, Microfinance
Founded	December 16, 1895
Founder	Raden Bei Aria Wirjaatmadja
Headquarters	Jakarta, Indonesia
Key people	Asmawi Syam, CEO
Net income	Rp 24.24 trillion (2014)(approx. US$2.02 billion), Rp 11.47 trillion (2010)(approx. US$1.32 billion)^[1]
Website	www.bri.co.id

Bank Rakyat Indonesia (People's Bank of Indonesia, commonly known as BRI or Bank BRI) is one of the largest banks in Indonesia^[2] . It specialises in small scale and microfinance^[3] style borrowing from and lending to its approximately 30 million retail clients through its over 4,000 branches, units and rural service posts. It also has a comparatively small, but growing, corporate business. As of 2010 it is the second largest bank in Indonesia by asset.^[4]

BRI is the oldest bank in Indonesia, tracing back since 1896. It is currently 70% government owned operating company (Persero) and has been government-owned for the entire period since the war of independence (1945 to 1949) to November 2003, when 30% of its shares were sold through an IPO.

History

BRI was founded in 1895, during the Dutch colonial period as De Poerwokertosche Hulp en Spaarbank der Inlandsche Hoofden (Help and Savings Bank for Purwokerto's Aristocrats) by Raden Bei Aria Wirjaatmadja in Purwokerto, Central Java.^[5] It then underwent its first (of many) name changes to Hulp en Spaarbank der Inlandsche Bestuurs Ambtenaren (Help and Savings Bank for Local Civil Servants).

Going through several name changes, its final name during the colonial period was Algemene Volkscredietbank (People's General Credit Bank, AVB) in 1934. This translates loosely into Indonesian as Bank Rakyat Serikat. At this point it was one of the largest institutions in the (then) colony.

The bank's operations were affected by the Japanese occupation during the 1942 to 1945 period of World War II, including a further name change to Shomin Ginkou (People's Bank). After the Indonesian declaration of independence, on 17 August 1945 the bank was officially nationalised by the new government and then renamed Bank Rakyat Indonesia Serikat.

As a bank wholly owned by the government, BRI's structure then largely followed government whim, which moved rapidly towards socialism under President Sukarno and then to state authoritarianism under President Suharto. This involved being folded into, and then out of, Bank Indonesia (now the central bank of Indonesia). BRI gained its current name and status in 1992.

BRI was nearly unique in Indonesia in the East Asian financial crisis of 1997, in that its operations were largely unaffected. This was because it had very little, if any, lending in foreign currencies or to the large corporations that had been borrowing heavily overseas, as most of the other large Indonesian banks had.

Since then BRI has been concentrating on increasing its core business and improving its risk management practices. As part of the reformasi (reform) process in Indonesia since 1998, the government has been steadily reducing its influence on the Bank's day-to-day operations, culminating in its IPO. It is also seeking to comply with the Basel II accords, as mandated by Bank Indonesia, by 2008.

During period of 2006–2011, its assets jumped almost 62%. The bank topped the list of the nation’s most profitable banks for six years, recording assets of Rp 249.56 trillion (US$28.6 billion) in 2010, up from Rp 154.72 trillion in 2006.^[6]

In April 2014, BRI contracted with Space Systems/Loral and Arianespace to, respectively, build and launch their first satellite, a 3,500 lb (1,600 kg) C- and Ku-band spacecraft dubbed BRIsat, and on June 18, 2016, Ariane 5 has successfully launched BRIsat as the first satellite owned and operated by a bank in the world to link the bank's geographically isolated branches.^[7]^[8]

References

↑ "BRI books record net profits". The Jakarta Post. March 21, 2011.
↑ "Indonesia-Investments.com:Bank Rakyat company profile". March 25, 2014.
↑ Ledgerwoodbali, Joanna (1999). Microfinance handbook: an institutional and financial perspective. bali denpasar: World Bank Publications. p. 253. ISBN 978-0-8213-4306-7.
↑ Moestafa, Berni tabunganku (December 28, 2010). "Indonesia Stocks: Aneka Tambang, Bank Rakyat, London Sumatra". Bloomberg.
↑ Investor Relations: Corporate Profile, Bank Rakyat Indonesia's investor relations site. Retrieved 24 November 2014.
↑ "BRI's assets jump 62% in 5 years". The Jakarta Post. April 14, 2011.
↑ de Selding, Peter B. (April 28, 2014). "Indonesia Taps SS/L, Arianespace To Build, Launch 3,500-kilogram Satellite". SpaceNews.
↑ "Ariane 5 Launched into Space with BRIsat". June 19, 2016.

External links

Banks in Indonesia

Central bank: Bank Indonesia

Conventional banks

State-owned banks	Bank Mandiri Bank Negara Indonesia Bank Rakyat Indonesia Bank Tabungan Negara

National private foreign exchange banks	Bank Agroniaga Bank Anda Bank Artha Graha Internasional Bank Bukopin Bank Bumi Arta Bank Capital Indonesia Bank Central Asia Bank CIMB Niaga Bank Danamon Bank Ekonomi Raharja Bank Ganesha Bank Hana Bank Himpunan Saudara 1906 Bank ICB Bumiputera Bank ICBC Indonesia Bank Index Selindo Bank Maybank Indonesia Bank Maspion Bank Mayapada Bank Mega Bank Mestika Dharma Bank Metro Express Mutiara Bank Bank Nusantara Parahyangan Bank OCBC NISP Bank of India Indonesia Panin Bank Bank Permata Bank QNB Kesawan Bank SBI Indonesia Bank Sinarmas Bank UOB Indonesia

National private non-foreign exchange banks	Anglomas Internasional Bank Bank Andara Bank Artos Indonesia Bank Bisnis Internasional Centratama Nasional Bank Bank Dipo International Bank Fama Internasional Bank Harda Internasional Bank Ina Perdana Bank Jasa Jakarta Bank Kesejahteraan Ekonomi Bank Liman International Bank Mayora Bank Mitraniaga Bank Multi Arta Sentosa Bank Nationalnobu Prima Master Bank Bank Pundi Indonesia Bank Royal Indonesia Bank Sahabat Purba Danarta Bank Sinar Harapan Bali Bank Tabungan Pensiunan Nasional Bank Victoria Internasional Bank Yudha Bhakti

Regional banks	Bank Jambi Bank Kalsel Bank Kaltim Bank Sultra Bank BPD DIY Bank Nagari Bank DKI Bank Lampung Bank Kalteng Bank BPD Aceh Bank Sulsel Bank BJB Bank Kalbar Bank Maluku Bank Bengkulu Bank Jateng Bank Jatim Bank NTB Bank NTT Bank Sulteng Bank Sulut Bank BPD Bali Bank Papua Bank Riau Kepri Bank Sumsel Babel Bank Sumut

Joint-venture banks	Bank ANZ Indonesia Bank Commonwealth Bank Agris Bank BNP Paribas Indonesia Bank Capital Indonesia Bank Chinatrust Indonesia Bank DBS Indonesia Bank KEB Indonesia Bank Mizuho Indonesia Bank Rabobank International Indonesia Bank Resona Perdania Bank Sumitomo Mitsui Indonesia Bank Windu Kentjana International Bank Woori Indonesia

Foreign banks	Bank of America Bangkok Bank Bank of China Citibank Deutsche Bank HSBC JPMorgan Chase Royal Bank of Scotland Standard Chartered Bank of Tokyo-Mitsubishi UFJ

Sharia banks

State-owned banks	Bank BNI Syariah Bank Muamalat Bank Syariah Mandiri

National private foreign exchange banks	BCA Syariah Bank BJB Syariah Bank BRI Syariah Bank Mega Syariah Panin Bank Syariah Bank Syariah Bukopin Bank Victoria Syariah

Joint-venture banks	Bank Maybank Syariah Indonesia

Sharia business units of conventional banks

State-owned banks	Bank BTN Syariah

National private foreign exchange banks	Bank Danamon Syariah CIMB Niaga Syariah BII Syariah OCBC NISP Syariah Bank Permata Syariah

Regional banks	Bank BPD Aceh Syariah Bank BJB Syariah Bank DKI Syariah Bank Kalbar Syariah Bank Kalsel Syariah Bank NTB Syariah Bank Riau Kepri Syariah Bank Sumsel Babel Syariah Bank Sumut Syariah

Foreign banks	HSBC Amanah

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