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BNI Subsidiaries Grow Positively Along with Transformation Program

BNI Subsidiaries Grow Positively Along with Transformation Program

23/11/2023. Transformation efforts in all subsidiaries of PT Bank Negara Indonesia (Persero) Tbk or BNI continue to have a positive impact on group performance. Strengthening good governance, synergy with the parent and fellow subsidiaries, and collaboration in various programs are BNI's main strategies to boost the performance of subsidiaries.

Overall, the net profit of subsidiaries until September 2023 grew 22.7% on an annual basis (YoY) with the total assets of subsidiaries reaching Rp45.3 trillion or growing 13.7% YoY.

BNI Corporate Secretary Okki Rushartomo said, BNI is not only transforming itself, but also transforming as a group, n order to achieve healthy and sustainable growth.

"In the midst of the transformation that is being carried out, of course this performance trend is very good. We will continue to urge our subsidiaries to achieve positive performance and become market leaders in their respective industries," he said.

Okki explained that one example of a subsidiary that is being transformed is hibank, which is a digital bank and focuses on the MSME segment.

This strategy is effective because the company can understand the needs of MSMEs by making appropriate products.

This is reflected in the growth of hibank's MSME loans as of September 2023 which reached 70% YoY with improved asset quality.

"In the future, hibank is expected to become an orchestrator of integrated digital banking solutions for MSMEs so as to support the development of the MSME segment which is the backbone of Indonesia's economic growth," he stated.

Furthermore, Okki said, the second example is BNI Sekuritas which carried out a corporate transformation by redefining its vision & mission to become "Indonesia's most respected investment banking and securities brokerage firm" by optimizing integrated Satu-BNI solutions, BNI ecosystem, quality talents, supported by strong risk governance, agile digital technology & strong capital structure.

The transformation has a positive impact on BNI Sekuritas which is reflected in the Investment Banking Fee in September 2023 which grew 18.7% YoY and the successful dealing of Initial Public Offering (IPO) on several top tier clients such as Barito Renewables Energy (BREN), Aman Mineral (AMMN) and so on.

"With these strategies, we expect the performance of subsidiaries to grow healthily and sustainably accompanied by business synergies between the parent and fellow subsidiaries that are getting stronger, so that the performance of the BNI Group will jump higher," he said.

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