Bank Rakyat Indonesia
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| Public company | |
| Traded as | : BBRI |
| Industry | Financial Services, Microfinance |
| Founded | 16 December 1895 |
| Founder | Raden Bei Aria Wirjaatmadja |
| Headquarters | Jakarta, Indonesia |
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Key people
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Asmawi Syam, CEO |
 Rp 24.24 trillion (2014)(approx. US$2.02 billion), Rp 11.47 trillion (2010)(approx. US$1.32 billion) |
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| Website | www.bri.co.id |
Bank Rakyat Indonesia (People's Bank of Indonesia, commonly known as BRI or Bank BRI) is one of the largest banks in Indonesia . It specialises in small scale and microfinance style borrowing from and lending to its approximately 30 million retail clients through its over 4,000 branches, units and rural service posts. It also has a comparatively small, but growing, corporate business. As of 2010 it is the second largest bank in Indonesia by asset.
BRI is the oldest bank in Indonesia, tracing back since 1896. It is currently 70% government owned operating company (Persero) and has been government-owned for the entire period since the war of independence (1945 to 1949) to November 2003, when 30% of its shares were sold through an IPO.
BRI was founded in 1895, during the Dutch colonial period as De Poerwokertosche Hulp en Spaarbank der Inlandsche Hoofden (Help and Savings Bank for Purwokerto's Aristocrats) by Raden Bei Aria Wirjaatmadja in Purwokerto, Central Java. It then underwent its first (of many) name changes to Hulp en Spaarbank der Inlandsche Bestuurs Ambtenaren (Help and Savings Bank for Local Civil Servants).
Going through several name changes, its final name during the colonial period was Algemene Volkscredietbank (People's General Credit Bank, AVB) in 1934. This translates loosely into Indonesian as Bank Rakyat Serikat. At this point it was one of the largest institutions in the (then) colony.
The bank's operations were affected by the Japanese occupation during the 1942 to 1945 period of World War II, including a further name change to Shomin Ginkou (People's Bank). After the Indonesian declaration of independence, on 17 August 1945 the bank was officially nationalised by the new government and then renamed Bank Rakyat Indonesia Serikat.
As a bank wholly owned by the government, BRI's structure then largely followed government whim, which moved rapidly towards socialism under President Sukarno and then to state authoritarianism under President Suharto. This involved being folded into, and then out of, Bank Indonesia (now the central bank of Indonesia). BRI gained its current name and status in 1992.
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Wikipedia