BRI Becomes the Largest Public Company in Indonesia on the Forbes Global 2000 Ranking in 2022

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May 20, 2022, 09:15 ET

JAKARTA, Indonesia, May 20, 2022 /PRNewswire/ -- PT Bank Rakyat Indonesia (Persero) Tbk. (IDX: BBRI) was named the largest public company in Indonesia on the 2022's Forbes Global 2000 Ranking. In addition, BRI's ranking amongst the other 2,000 largest global companies rose to 349th in 2022 from 362nd in the previous year.

Amongst seven Indonesian companies listed in the Forbes Magazine's list of 2,000 largest companies globally, BRI was at the top of the list. BRI has been named as Indonesia's largest public company for eight consecutive years.

Sunarso, President Director of BRI said that this achievement further proves BRI's capabilities of maintaining positive performances with highly measured and regulated risk management.

"Despite challenges posed by the Covid-19 pandemic, BRI is continuously maintaining positive performances. This was achieved by focusing on the empowerment and assistance to Indonesia's MSMEs segment in difficult times, as well as becoming the Indonesian government's strategic partner in the national economic recovery programs. This achievement belongs all BRI customers and BRI employees, or known as BRILian Personnel, throughout Indonesia," said Sunarso.

Forbes Global 2000 ranks the largest companies globally using four metrics, namely sales, profits, assets, and market value. Each metric has minimum requirements such as sales of US$5.5 billion, profit of US$493 million, assets of US$13.7 billion and market value of US$7.6 billion. Companies must meet at least one requirement to be eligible for the final Forbes Global 2000 rankings.

According to Forbes, BRI's sales volume reached US$ 12.77 billion in 2022, with profit accumulating to US$2.17 billion, assets valued at US$117.74 billion and a market value of US$50.14 billion.

As Indonesia's economic conditions continue to rise and recover from the Covid-19 pandemic, BRI aims to continue to bring out positive performances. In Q1 2022, BRI managed to record a profit of Rp. 12.22 trillion, growing 78.13% year on year (yoy). As for assets, BRI Group's assets grew by 8.99 percent yoy to Rp1,650.28 trillion.

"Through our positive performances, BRI is able to, not just maintain the top ranking amongst Indonesian companies, but also rank up on an international scale. This proves that state-owned companies are increasingly appreciated globally. We will continue to create best-value economic and social services for all Indonesian people," concluded Sunarso.

SOURCE PT Bank Rakyat Indonesia Tbk (BRI)