Brand Finance 100 Report Names BRI as the Most Valuable Brand in Indonesia

JAKARTA, Indonesia, June 14, 2023 /PRNewswire/ -- In the Brand Finance 100 report of 2023, PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI) has emerged as the highest-valued brand in Indonesia. Brand Finance, a renowned brand valuation consultant, released the report showcasing the country's 100 most valuable and strongest brands. BRI has secured the top spot with a brand valuation of USD 4.3 billion or around IDR 63.86 trillion, accompanied by an AAA rating.

BRI has also succeeded in climbing the ranks, from second place in 2022 to the top spot in 2023, growing by 15% Year-on-Year (YoY). Since 2018, BRI's brand valuation has increased by USD 1.2 billion, or 38%.

Regarding this achievement, BRI's President Director, Sunarso, highlighted that "BRI has become a brand with the highest value that resonates with the community. This is evidence of the company's success in delivering the best services to the society."

BRI's success in topping Indonesia's most valuable brand list is fueled by its strong financial performance. With a 27.4% growth, the company recorded a net profit of IDR 15.56 trillion in Q1 2023. The strategic acquisitions to Danareksa Investment Management and the launch of QLola, expands the company's offerings as a comprehensive financial services provider, catering to digital needs.

BRI's SuperApp BRImo plays a vital role in driving the brand's valuation. With over 26.3 million users at the end of Q1 2023, it has emerged as Indonesia's preferred banking application. Facilitating transactions worth IDR 884 trillion, BRImo achieved a 99.07% YoY growth. BRImo's presence aligns with customers' evolving preferences for digital transactions. This enhances the efficiency, effectiveness, and integration of banking services, catering to the digital literacy journey in Indonesia.

Furthermore, BRI remains consistent in aligning business practices with environmental, social, and governance (ESG) principles. Demonstrating this commitment, the company allocated IDR 710.9 trillion in financing to sustainable business activities in Q1 2023, setting a new benchmark as the highest in Indonesia.

"We are optimistic that BRI's commitment to implementing ESG will provide added values to global investors who highly prioritize ESG practices. BRI has the potential to become the leading global bank in terms of ESG implementation, particularly in social empowerment," concluded Sunarso.

Information about Bank BRI can be accessed at www.bri.co.id.

Related stocks: Jakarta:BBRI OTC:BKRKY