JAKARTA, Indonesia, June 18, 2024 /PRNewswire/ -- PT. Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) proudly announce its recognition as the largest company in Indonesia according to the prestigious Forbes Global 2000 for 2024. The list, published by Forbes International, a leading authority in global financial and business media, was released in New York on Thursday, June 13. The Global 2000 ranks the world's largest companies based on four key metrics: sales, profits, assets and market value, each weighted equally.

According to Forbes International's official website, nine companies are from Indonesia, with BRI holding the top position. BRI is ranked at 308, followed by Mandiri (373), BCA (457), Telkom Indonesia (912), BNI (944), Bayan Resources (1,194), Chandra Asri Petrochemical (1,591), Amman Mineral (1,605) and Adaro Energy (1,738).

"The annual Forbes Global 2000 list reflects the world's largest companies that are driving markets, along with growing industries and emerging trends," said Hank Tucker, Forbes writer. "This year's list shows how global markets are interconnected and highlights the ongoing trend of artificial intelligence, which is reflected in the rising ranks of semiconductor companies," he added.

The list includes performance data spanning the past 12 months through May 17, 2024. BRI's impressive ranking of 308 outperforms other multinational companies including Starbucks, Renault, Nissan Motor, Uber, Vodafone, HP and Softbank. During this period, BRI reported revenues of $14.95 billion, profits of $3.6 billion, total assets of $125.45 billion, and a market value of $46.5 billion.

Successfully weathering economic challenges, BRI President Director Sunarso expressed both appreciation and pride in this achievement, "Once again, the international community has recognized BRI's robust performance and its pivotal role as a state-owned enterprise with significant global impact."

In terms of performance, BRI recorded positive profit growth of IDR 15.98 trillion in Q1 2024. BRI also disbursed loans amounting to IDR 1,308.65 trillion, growing 10.89% year-over-year. Of these loans, 83.25%, or IDR 1,089.41 trillion, are for the MSME segment.

Meanwhile, BRI's third-party funds grew faster by 12.80% to IDR 1,416.21 trillion. The company's total assets also increased by 9.11% to IDR 1,989 trillion. From a capital perspective, BRI is supported by a strong CAR of 23.97% with a loan-to-deposit ratio (LDR) of 83.28%. The company also maintains an NPL coverage ratio of 214.26%.