BBRI - Projecting BRImo transaction to reach IDR2.4 tn this year

Bank Rakyat Indonesia (BBRI) projecting BRImo aps transaction to reach IDR2.4 tn this year. Year to date (31 May 23), BRImo users recorded around 27.2 mn users with transaction amount reaching 1.1 bn transcations, or around 87.7% yoy compared to last year. In terms of absolute amount, in the same period BRImo noted total transcation at IDR1.55 tn, or equal to revenue of around IDR1.09 tn. The bank will continue to develop the apps to become as one stop solution digital banking for its customers. Comment : Wits massive both deposits and loan account, customer acquisition is not an issue for BBRI and thus will provide ample of room for its apps to remain recording strong growth ing forward. Continuing added features will maintain apps penetration, while low acquisition cost will increase BRImo margin which at the end will overall underpin non interest revenue growth.