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Not to be confused with Bank Rakyat.
PT Bank Rakyat Indonesia (Persero) Tbk (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.
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia, between the Indian and Pacific oceans. It is the world's largest island country, with more than seventeen thousand islands, and at 1,904,569 square kilometres, the 14th largest by land area and 7th in the combined sea and land area.
With over 267 million people, it is the world's 4th most populous country as well as the most populous Muslim-majority country. Java, the world's most populous island, is home to more than half of the country's population.
Microfinance is a category of financial services targeted at individuals and small businesses who lack access to conventional banking and related services.
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Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.
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).
The United Kingdom of the Netherlands is the unofficial name given to the Kingdom of the Netherlands as it existed between 1815 and 1839.
The United Netherlands was created in the aftermath of the Napoleonic Wars through the fusion of territories that had belonged to the former Dutch Republic, Austrian Netherlands, and Prince-Bishopric of Liège.
The polity was a constitutional monarchy, ruled by William I of the House of Orange-Nassau.
Purwokerto is a non-autonomous town on the island of Java, Indonesia.
It is the capital of Banyumas Regency, Central Java region.
The population of the town at the 2010 Census was 233,951
Central Java is a province of Indonesia, located in the middle of the island of Java.
Its administrative capital is Semarang. It is bordered by West Java in the west, the Indian Ocean and the Special Region of Yogyakarta in the south, East Java in the east, and the Java Sea in the north.
It has a total area of 32,548 km², with a population of 33 million in 2015, making it the third-most populous province in both Java and Indonesia after West Java and East Java.
One Great Story, One Great Bank
The province also includes the island of Nusakambangan in the south, and the Karimun Jawa Islands in the Java Sea. Central Java is also a cultural concept that includes the Special Region and city of Yogyakarta.
However, administratively the city and its surrounding regencies have formed a separate special region since the country's independence, and is administrated separately.
Although known as the "heart" of Javanese culture, there are several other non-Javanese ethnic groups, such as the Sundanese on the border with West Java. Chinese Indonesians, Arab Indonesians, and Indian Indonesians are also scattered throughout the province.
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.
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BRI gained its current name and status in 1992.
BRI was nearly unique in Indonesia in the East Asian financial crisis of 1997, in that its operations were largely unaffected. This was because it had very little, if any, lending in foreign currencies or to the large corporations that had been borrowing heavily overseas, as most of the other large Indonesian banks had.
Since then BRI has been concentrating on increasing its core business and improving its risk management practices.
As part of the reformasi (reform) process in Indonesia since 1998, the government has been steadily reducing its influence on the Bank's day-to-day operations, culminating in its IPO. It is also seeking to comply with the Basel II accords, as mandated by Bank Indonesia, by 2008.
Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Basel II is the second of the Basel Accords,, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision.
Bank Indonesia (BI) is the central bank of the Republic of Indonesia.
Perry Warjiyo is its current governor.
During period of 2006–2011, its assets jumped almost 62%. The bank topped the list of the nation's most profitable banks for six years, recording assets of Rp 249.56 trillion (US$28.6 billion) in 2010, up from Rp 154.72 trillion in 2006.
In April 2014, BRI contracted with Space Systems/Loral and Arianespace to, respectively, build and launch their first satellite, a 3,500 lb (1,600 kg)C- and Ku-band spacecraft dubbed BRIsat, and on 18 June 2016, Ariane 5 has successfully launched BRIsat as the first satellite owned and operated by a bank in the world to link the bank's geographically isolated branches.
World War II, also known as the Second World War, was a global war that lasted from 1939 to 1945.
One Savings Bank targets IPO valuation of up to £600m
The vast majority of the world's countries—including all the great powers—eventually formed two opposing military alliances: the Allies and the Axis. A state of total war emerged, directly involving more than 100 million people from more than 30 countries.
The major participants threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. World War II was the deadliest conflict in human history, marked by 70 to 85 million fatalities, most of whom were civilians in the Soviet Union and China.
It included massacres, the genocide of the Holocaust, strategic bombing, premeditated death from starvation and disease, and the only use of nuclear weapons in war.
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