BBRI Loans Surge by 16.2%, Analysts Suggest Targets Could Be Revised Upwards

PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) achieved double-digit growth in credit distribution throughout the first half of 2026. This has become a primary highlight of the company’s positive performance during the first half of the year.

As reported by BRI on Monday, the company achieved a net profit of Rp31.2 trillion for the first half of 2026, a 17.5% year-on-year increase from Rp26.53 trillion in the first half of 2025. This achievement exceeded the forecasts of Indo Premier Sekuritas, JP Morgan, BNI Sekuritas, and the market consensus.

In terms of intermediation, BRI’s total consolidated credit and financing grew by 16.2% year-on-year to Rp1,646 trillion. The composition of MSME (Micro, Small, and Medium Enterprises) credit stood at 75.1%, with its volume increasing by 8.6% year-on-year.

BRI’s credit growth has surpassed the bank’s business plan (RBB) for this year and has been accompanied by improvements in asset quality. The non-performing loan (NPL) ratio fell to 2.9%, while NPL coverage rose to 180%. The loan at risk (LAR) ratio decreased to 9.2%, while LAR coverage increased by 57%.

Indo Premier noted several significant improvements in the micro segment. Notably, the net credit quality deterioration, measured by NPL, decreased to an average of Rp1.7 trillion in the first half of 2026, compared to Rp2 trillion in the first quarter of 2026 and a peak of Rp3.5 trillion in January 2025.

On the other hand, BRI’s credit growth was also supported by the corporate and commercial segments, which increased by 47% and 58% year-on-year, respectively. Indo Premier stated that this could prompt a revision of the 2026 credit growth guidance to a range of 8%-10%.

JP Morgan assessed that the placement of government funds, along with BRI’s ability to place such funds at high interest rates set by Bank Indonesia, will be a key driver for the net interest margin (NIM) ratio, alongside commercial lending.

Following the strong credit growth in the first half of 2026, BRI management has maintained its targets for NIM, credit costs, and CIR guidelines. According to BNI Sekuritas, BRI is the only large state-owned bank that has not revised its NIM guidance downwards.