PT Bank Rakyat Indonesia (Persero) Tbk ( 'Indonesian People's Bank', commonly known as BRI) is one of the largest banks in

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...

. It specialises in small scale and microfinance style borrowing from and lending to its approximately 30 million retail clients through its over 4,000 branches, units and rural service posts. It also has a comparatively small, but growing, corporate business. As of 2010, it is the second largest bank in Indonesia by asset. BRI is the oldest bank in Indonesia, tracing back since 1895. It is currently 53% government owned operating company (Persero) and has been government-owned for the entire period since the war of independence (1945 to 1949) to November 2003, when 30% of its shares were sold through an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

History

BRI was founded in 1895, during the

Dutch Dutch commonly refers to: * Something of, from, or related to the Netherlands * Dutch people () * Dutch language () Dutch may also refer to: Places * Dutch, West Virginia, a community in the United States * Pennsylvania Dutch Country People E ...

colonial period as ''De Poerwokertosche Hulp en Spaarbank der Inlandsche Hoofden'' (Help and Savings Bank for Purwokerto's Aristocrats) by Raden Bei Aria Wirjaatmadja in

Purwokerto Purwokerto is a large but non-autonomous town on the island of Java, Indonesia. It is the capital of Banyumas Regency, Central Java province. The population of the four districts which comprise the town at the 2010 census was 233,951 and 22 ...

Central Java Central Java ( id, Jawa Tengah) is a province of Indonesia, located in the middle of the island of Java. Its administrative capital is Semarang. It is bordered by West Java in the west, the Indian Ocean and the Special Region of Yogyakarta in t ...

. It then underwent its first (of many) name changes to ''Hulp en Spaarbank der Inlandsche Bestuurs Ambtenaren'' (Help and Savings Bank for Local Civil Servants). Going through several name changes, its final name during the colonial period was ''Algemene Volkscredietbank'' (People's General Credit Bank, AVB) in 1934. This translates loosely into Indonesian as ''Bank Rakyat Serikat''. At this point it was one of the largest institutions in the (then) colony. The bank's operations were affected by the Japanese occupation during the 1942 to 1945 period of

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

, including a further name change to . After the Indonesian declaration of independence, on 17 August 1945 the bank was officially

nationalise Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to pri ...

d by the new government and then renamed ''Bank Rakyat Indonesia Serikat''. BRI gained its current name and status in 1992. BRI was nearly unique in Indonesia in the

East Asian financial crisis The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1 ...

of 1997, in that its operations were largely unaffected. This was because it had very little, if any, lending in foreign currencies or to the large corporations that had been borrowing heavily overseas, as most of the other large Indonesian banks had. Since then BRI has been concentrating on increasing its core business and improving its risk management practices. As part of the reformasi (reform) process in Indonesia since 1998, the government has been steadily reducing its influence on the Bank's day-to-day operations, culminating in its IPO. It is also seeking to comply with the

Basel II Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. It is now extended and partially superseded by Basel III. The Basel II Accord was publ ...

accords, as mandated by

Bank Indonesia Bank Indonesia (BI) is the central bank of the Republic of Indonesia. It replaced in 1953 the Bank of Java ( nl, De Javasche Bank, DJB), which had been created in 1828 to serve the financial needs of the Dutch East Indies. History Bank of Ja ...

, by 2008. During period of 2006–2011, its assets jumped almost 62%. The bank topped the list of the nation's most profitable banks for six years, recording assets of Rp 249.56 trillion (US$28.6 billion) in 2010, up from Rp 154.72 trillion in 2006.

Satellite

In April 2014, BRI contracted with

Space Systems/Loral SSL, formerly Space Systems/Loral, LLC (SS/L), of Palo Alto, California, is a wholly owned manufacturing subsidiary of Maxar Technologies. SSL designs and builds satellites and space systems for a wide variety of government and commercial cus ...

and

Arianespace Arianespace SA is a French company founded in 1980 as the world's first commercial launch service provider. It undertakes the operation and marketing of the Ariane programme. The company offers a number of different launch vehicles: the heavy ...

to, respectively, build and launch their first

satellite A satellite or artificial satellite is an object intentionally placed into orbit in outer space. Except for passive satellites, most satellites have an electricity generation system for equipment on board, such as solar panels or radioisotope ...

, a C-band and

Ku-band The Ku band () is the portion of the electromagnetic spectrum in the microwave range of frequencies from 12 to 18 gigahertz (GHz). The symbol is short for "K-under" (originally german: Kurz-unten), because it is the lower part of the ori ...

spacecraft dubbed BRIsat, and on 18 June 2016,

Ariane 5 Ariane 5 is a European heavy-lift space launch vehicle developed and operated by Arianespace for the European Space Agency (ESA). It is launched from the Centre Spatial Guyanais (CSG) in French Guiana. It has been used to deliver payloads int ...

has successfully launched BRIsat as the first satellite owned and operated by a bank in the world to link the bank's geographically isolated branches.

BRI Partner Award

Source: Hardware Category # Top Data Center Solution – PT. Bringin Inti Teknologi # Top Compute Service Solution – PT. Info Solusindo Data Utama # Top Network Data Center Solution – PT. Mastersystem Infotama Software Category # Top Core Banking System – PT. Structured Services (Silverlake) # Top Integration System – PT. Mitra Integrasi Informatika # Top Distribution System – PT. Metalogic Infomitra Network Category # Top Network Services – PT. Satkomindo Mediyasa # Top M2M Platform – PT Telekomunikasi Selular # Top Network Solution – PT. Telkom Indonesia (Persero) Tbk Consultant Category # Top Digital Strategy – PT. Sharing Vision Indonesia # Top Digital Governance – PT Deloitte Consulting # Top Management Quality – PT Robere Manajemen Indonesia Non IT Category # Top IT Facility Support – PT. Bringin Karya Sejahtera

References

External links

Official website

English language website

Investor Relation website (in English)

Detail layanan KUR BRI

Download Bank Bri Logos here
{{authority control Banks of Indonesia Microfinance organizations Government-owned companies of Indonesia Companies listed on the Indonesia Stock Exchange Banks established in 1895 Companies based in Jakarta Indonesian brands 1895 establishments in the Dutch East Indies 2003 initial public offerings