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BRI Encourages Domestic Growth Through MSMEs as State-Owned Enterprises Become the Drive for Economic Developments

BALI, Indonesia
BRI Encourages Domestic Growth Through MSMEs as State-Owned Enterprises Become the Drive for Economic Developments

PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI) pushes for Indonesia’s growth by supporting Micro, Small, and Medium Enterprises (MSMEs) through several initiatives and programs, one of which is the Ultra-Micro (UMi) Holding program.

Minister of State-Owned Enterprises (SOEs) Erick Thohir revealed the role of SOEs are crucial as they have the potential of creating millions of job opportunities in Indonesia. Therefore, SOEs are continuously pushed to create value for the community and play their role as agents of developments.

“The role of SOEs as agents of developments in society will go hand in hand with the transformation of SOEs. We believe we can further help SOEs to enhance their role as driving agents of Indonesia’s development,” said Erick.

President Director of BRI Sunarso also believes that Indonesia’s economic growth can be achieved by focusing on MSMEs, who are the country’s growth drivers. “97% of jobs in Indonesia comes from MSMEs. Therefore BRI, whose core business is MSMEs, has a crucial role in promoting financial inclusion in Indonesia.”

The successes of the UMi Holding are reflected in the data. The number of customers who have been integrated by the three UMi Holding entities reached 23.5 million customers with a total outstanding financing of IDR 183.9 trillion in August 2022. This achievement is in line with one of the priority agendas of the G20 Presidency, namely financial inclusion.

BRI also succeeded in upgrading 1.8 million micro-business credit customers to commercial in 2021 and is predicted to upgrade 2.2 million customers in 2022. Furthermore, in August 2022, the service integration of the UMi Holding entities or the co-location of Gerai Senyum outlets reached 1,003 locations, surpassing the initial target of 978. UMi Holding also surpassed the initial target of 3.3 million savers by reaching 6.85 million new savers. PNM Mekaar, joining as BRILink agents, reached 40,121.

BRI is optimistic that the ongoing growth will have a positive impact on the economy in Indonesia. “Our efforts to suppress inflation are important, but our goal is also to continue to grow our economy so that stagflation does not occur, thus reducing the risk of additional unemployment,” said Sunarso.

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SOURCE: PT Bank Rakyat Indonesia Tbk (BRI)