JAKARTA, Indonesia, Oct. 31, 2024 /PRNewswire/ -- PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) maintained its strong performance amidst global and domestic economic challenges, achieving a net profit of IDR 45.36 trillion in the third quarter of 2014. At the financial performance press conference on October 30, BRI President Director Sunarso said, "This achievement is a result of BRI's consistent focus on strengthening performance fundamentals and implementing strategic responses to manage market dynamics."
By September 2024, BRI had disbursed IDR 1,353.36 trillion in loans, an 8.21% year-on-year growth, of which 81.70% (IDR 1,105.70 trillion) went to the MSME segment. This growth also increased BRI's assets by 5.94% to IDR 1,961.92 trillion. "BRI is here to empower MSMEs as a crucial pillar of national economic growth," Sunarso explained, emphasizing the bank's role in building an inclusive economy.
BRI also improved asset quality, with NPL falling to 2.90% and LAR to 11.66% by Q3 2024, driven by disciplined risk management and an early warning system. The bank strengthened its reserves with an NPL coverage ratio of 215.44%. "BRI has implemented various risk mitigation measures, from selective growth to proactive credit monitoring and collaborative problem resolution," he said. On the liabilities side, BRI raised IDR 1,362.42 trillion in third-party funds (DPK), up 5.59% year-on-year. Low-cost funds (CASA) dominated at 64.17%, up from 63.64% last year.
A key driver of BRI's growth in low-cost funds is its digital transformation through the BRImo super-app, providing accessible banking anytime, anywhere. By September 2024, BRImo reached 37.14 million users, with transaction volume increasing by 35.20% year-on-year to IDR 4,034 trillion.
BRI has also expanded hybrid banking to underserved areas, with more than 1.02 million BRILink agents in 62,227 villages supporting national financial inclusion. From January to September 2024, these agents facilitated IDR 1,170 trillion in transactions from 859 million interactions.
Furthermore, BRI's performance in Q3 2024 is supported by solid liquidity (LDR of 89.18%) and capital (CAR of 26.76%). "Going forward, BRI will prudently manage liquidity to ensure readiness for global and domestic economic challenges providing room for further growth," Sunarso added.
"BRI is confident of closing 2024 on a positive note, focusing on strengthening fundamentals and building resilience to face global and domestic challenges," Sunarso concluded.
For more information on BRI, please visit www.bri.co.id
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Achieved IDR 45.36 Trillion Profit in Q3 2024, BRI Strengthens Performance Fundamentals
SEOUL, South Korea, Oct. 31, 2024 /PRNewswire/ -- Hyundai Motor Company today unveiled its INITIUM hydrogen fuel cell electric vehicle (FCEV) concept at its 'Clearly Committed' event held at Hyundai Motorstudio Goyang.
INITIUM is a Latin word meaning 'beginning' or 'first', representing Hyundai Motor's status as a hydrogen energy pioneer and its commitment to develop a hydrogen society.
INITIUM provides a preview of a new production FCEV that Hyundai Motor plans to unveil in the first half of next year. The concept encapsulates the company's 27 years of hydrogen technology development and reflects its clear commitment to achieving a sustainable hydrogen society.
"Hyundai Motor's clear, unwavering commitment to hydrogen over the past 27 years is rooted in our belief in its potential as a clean, accessible and therefore fair energy source for everyone," said Jaehoon Chang, President and CEO of Hyundai Motor Company. "We are dedicated to pioneering a future where hydrogen is used by everyone, in everything, and everywhere. We invite you to join us on this journey."
Hyundai Motor launched its HTWO hydrogen value chain business brand earlier this year at CES 2024, highlighting how Hyundai Motor Group Executive Chair Euisun Chung is focusing the Group's efforts on hydrogen energy.
Unveiling its vision for HTWO Grid – an end-to-end hydrogen energy solution that spans production, storage, transportation and utilization – Executive Chair Chung expressed the Group's commitment to actively participate in the development of a hydrogen society and underscored the Group's capabilities to achieve this goal, highlighting that "The shift to hydrogen energy is for future generations."
Past, present and future: Hyundai Motor's hydrogen vehicle development
Hyundai Motor hosted a Hydrogen Heritage Talk session, showcasing its 27-year history of FCEV development. The panel talk between executives allowed visitors to experience and engage with Hyundai Motor's dedication to the development of FCEVs.
For the new millennium Hyundai Motor began its ambitious Mercury Project, aimed at bridging ground to industry leaders, and the Polaris Project, which focused on the independent development of the company's core fuel cell stack technology.
In 2005 Hyundai Motor established its Mabuk Environmental Technology R&D Center, accelerating the development of hydrogen fuel cell vehicles. At the time, Hyundai Motor Group Honorary Chairman Mong-Koo Chung encouraged researchers at the facility to push boundaries, empowering them to pursue engineering challenges with courage and confidence.
"You can never make something great by creating it just once," Chung said. "Don't worry about budget, let young engineers try making every type of car they dream of. There's no need to save money by developing the same car 100 times over. It's fine if all 100 models are completely different to each other."
Hyundai's hydrogen evolution saw it become the world's first automaker to mass-produce hydrogen FCEVs, introducing its first dedicated hydrogen fuel cell model in 2018. These FCEV development achievements highlight Hyundai Motor's clear commitment to creating a better tomorrow.
More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hyundai Motor Unveils Next Step in its Hydrogen Legacy with new INITIUM FCEV Concept
Hyundai Motor Unveils Next Step in its Hydrogen Legacy with new INITIUM FCEV Concept
Hyundai Motor Unveils Next Step in its Hydrogen Legacy with new INITIUM FCEV Concept
Hyundai Motor Unveils Next Step in its Hydrogen Legacy with new INITIUM FCEV Concept
