BRI Wins 2021 Syndicated Financial Institution Deal of the Year by APLMA
PR Newswire Asia
JAKARTA, Indonesia, April 21, 2021 /PRNewswire/ -- PT Bank Rakyat Indonesia Tbk (BRI) (IDX:BBRI) has been awarded Syndicated Financial Institution Deal of the Year by the Asia Pacific Loan Market Association (APLMA) for successfully raising USD 1 billion in funds in 2020.
The award, which marks another of BRI's milestones and achievements on the international stage, was presented during the 2021 APLMA 10th Asia Pacific Syndicated Loan Market Awards' virtual ceremony on March 10, 2021.
The APLMA is a professional institution with members from financial and non-financial institutions in Asia Pacific that actively participate in the loan market.
BRI's achievement was the result of the bank successfully raising USD 1 billion in funds with a relatively competitive average all in rate at LIBOR + 136 bps in 2020. The funds involved a total of 10 global institutions from Asia, Europe, and America.
BRI's success has proven its ability to seize opportunities amid global uncertainties throughout 2020 leading to profitable growth. The funds will strengthen the bank's liability structure through diversifying sources of funding and supporting the bank's business expansion.
"This award is the international financial market's acknowledgement of BRI's role as a global bank. We hope this award will set a new benchmark in Indonesia and boost investor confidence to establish a more sustainable and profitable business model," said Listiarini Dewajanti, Senior Executive Vice President of Treasury & Global Service of BRI during the APLMA awards ceremony.
In 2020, BRI's treasury business focused on increasing revenue and market share through activities in the securities market and foreign exchange transactions. As a result, the bank's treasury business has successfully increased the revenue by 138.71% year-on-year.
Apart from providing deposits with efficient interest rates, BRI's treasury business has actively raised funding to support the bank's business expansion. In the securities market, BRI has been named the "Best Primary Dealer" for three consecutive years since 2017, at the annual Main Dealer activity by the Ministry of Finance, Republic of Indonesia.
Another of BRI's notable achievements is being awarded the Best Sustainability Bond award by The Asset Hong Kong. The award recognizes BRI's fundraising activities and the issuance of Sustainability Bonds in 2019. These bonds were the first sustainability bonds issued by a state-owned company and were oversubscribed by over eight times the nominal issuance.
Currently, BRI is actively assisting the management of the National Economic Recovery fund in helping Indonesia's MSMEs sector which has been hard hit by the COVID-19 pandemic. "We will remain our focus and business growth in the MSME sector, and we are targeting to increase the growth of this sector by up to 85 percent. For other businesses, we also aim to help them achieve positive growth," concluded Listiarini.