JAKARTA, Indonesia, April 1, 2021 /PRNewswire/ -- PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) announces that it has approved 65% dividend payments of the 2020 consolidated net profit of IDR 18.6 trillion, resulting in high-dividend paying of IDR 12.1 trillion. The remaining 35 percent, or IDR 6.5 trillion, will be used as retained earnings.
The approval has been made by its Board of Directors, during the 2021 Annual General Meeting of Shareholders (AGMS) at the BRI Headquarter, Jakarta, on Thursday (25/03).
The dividend pay-out ratio for the 2020 financial year has increased by 60 percent compared to the dividend pay-out ratio for the 2019 financial year, according to BRI's Deputy President Director, Catur Budi Harto. He stated that the dividend ratio was determined by considering projections of sustainable business growth to maintain a strong capital structure for business expansion and anticipate future risks that may occur in bank management.
"In accordance with the Basel III implementation stages, the Company aims to maintain a level of capital adequacy ratio (CAR) above 18%, therefore, we still have sufficient room to grow, both organically and inorganically," said Catur.
In addition to the distribution of dividends, the AGMS also approved:
Meanwhile, it also ratified some notable reports, including:
The AGMS also granted authority to the Dwiwarna Series A Shareholder to determine the amount of bonus for the 2020 Financial Year for the Board of Commissioners' members. The AGMS authorizes the Board of Commissioners by first obtaining written approval from the Dwiwarna Series A Shareholder to decide the bonus amount that includes salaries / honoraria, allowances, facilities, and other incentives for the financial year 2021.
Concluding the meeting, the AGMS appointed Purwantono, Sungkoro & Surja (a member of the Firm of Ernst & Young Global Limited) as a Public Accounting Firm that will audit the Company's Consolidated Financial Statements and Financial Statements for the Partnership Program and Community Development Program for the 2021 Financial Year.
BRI's Performance Throughout 2020
The Company's consolidated financial performance has consistently grown above the national banking industry, which reflected in the Company's Financial Statements for the financial year ended 31 December 2020:
Amid the crisis, the Company has further proven its consistency to save MSMEs by "Turning Difficulties into Resilience." The company has also implemented several strategies to succeed, some of which are saving MSMEs through the Credit restructuring program and "Business Follow Stimulus" to grow business and loan demand by becoming a partner of the Government in the PEN program.
The holding company continues to take strategic and innovative steps to create income diversification and integrated financial services, to further complement the financial needs of the wider Indonesian community. Throughout 2020, the company carried out several corporate actions, including:
As a result, BRI Group currently consists of 7 (seven) Subsidiaries, namely (i) PT Bank Rakyat Indonesia Agroniaga Tbk; (ii) BRI Remittance Co. Ltd. Hong Kong; (iii) PT Asuransi BRI Life; (iv) PT BRI Multifinance Indonesia; (v) PT BRI Danareksa Sekuritas; (vi) PT BRI Ventura Investama; and (vii) PT BRI Asuransi Indonesia.