BBRI - Held SME Expo Brilianpreneur 2022

Bank Rakyat Indonesia (BBRI) continuously committed to bring Indonesia SME to global. The bank expects around US$75 mn of transaction business matching on the event. Around more than 500 of SME’s will participates on the event UMKM Expo(rt) BRILianpreneur which held in JCC on 14-18Dec22. (Source : Investor Daily). Comment: Started the program several years a, we like BBRI continuous effort to strengthened and bring Indonesia SMEs to global. BBRI micro debtors which has upgraded to commercial debtors has been increasing. The synergy with PNM and Pegadaian will strengthen BBRI position and provides more room to tap into ultra-micro ecosystem huge market. As of 9M22 micro loan outstanding grew at 13.96% yoy with KUR as the main driver increased 35.8% yoy. Maintain BUY, with target price of IDR5,550.