BBRI - Targeting 3.25 mn merchant QRIS and IDR5 tn sales

Bank Rakyat Indonesia (BBRI) targeting to acquire 3.25 mn merchant QRIS with sales volume amounting IDR5 tn. As of April ’23 the bank has successfully acquired 3.15 mn merchant with total sales volume at IDR4.01 tn. The bank confidence to reach the merchant transaction target. Aside from this management believes that QRIS will be more increasingly used by consumers ing forward. (Source : Kontan). Comment: We share the same opinion that ing forward QRIS will be used more as one of the ways to do banking transaction. With strong customer basis, we expect this electronic basis transaction will make substantial impact to overall BRI earnings, especially strengthening BBRI’s customer based.