Indonesia's sovereign wealth fund, Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara), was officially launched by President Prabowo Subianto at the Merdeka Palace on Monday (February 24, 2025). Danantara will manage seven major state-owned enterprises (BUMN) to optimize national asset management and strengthen financial accountability.

Among the seven BUMNs, three state-owned banks, PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI), PT Bank Mandiri (Persero) Tbk. (BMRI), and PT Bank Negara Indonesia (Persero) Tbk. (BBNI), are now under Danantara's management.

President Prabowo stated that Danantara is expected to handle over IDR 14,715 trillion in managed funds. Speaking virtually at the 2025 World Government Summit in Dubai, he mentioned that the fund's initial capital is projected at US$20 billion, or approximately IDR 326 trillion.

According to Indonesia's Ministry of State-Owned Enterprises (BUMN), BUMN dividends to the state amounted to IDR 50 trillion in 2019, IDR 41.9 trillion in 2020, IDR 29.5 trillion in 2021, IDR 39.7 trillion in 2022, IDR 81.2 trillion in 2023, and IDR 85.84 trillion in 2024. The target for 2025 is IDR 90 trillion.

The Ministry of Finance recorded that most BUMN dividend payments come from the banking sector, reaching IDR 49.59 trillion for the 2023 fiscal year, a 21.43% increase from the IDR 40.84 trillion recorded the previous year.

Here is a breakdown of the three BUMN banks' dividend contributions and their assets under Danantara's management:

Bank Rakyat Indonesia (BRI)

For the 2023 fiscal year, BRI distributed IDR 48.1 trillion in dividends. The Indonesian government, holding a 53.18% stake, received IDR 25.71 trillion.

BRI paid IDR 6.7 trillion in interim dividends to the state at the start of 2024, while the remaining IDR 18.94 trillion was deposited into the government's general cash account.

In 2024, BRI reported a net profit of IDR 60.64 trillion, a 0.4% increase year-on-year (YoY). BRI's total assets grew 1.4% YoY, reaching IDR 1,992.98 trillion.

According to BRI President Director Sunarso, the bank's dividend payout ratio for the 2024 fiscal year will remain between 80% to 85%, consistent with the previous year.

Bank Mandiri (BMRI)

Bank Mandiri paid out IDR 33.03 trillion in dividends for the 2023 fiscal year. The Indonesian government, holding a 52% stake, received IDR 17.17 trillion.

In addition to dividends, Bank Mandiri contributed IDR 665.29 trillion to the state through taxes, customs, and non-tax revenue in 2023, a 12.37% YoY increase.

In 2024, Bank Mandiri recorded a net profit of IDR 55.78 trillion, growing 1.31% from IDR 55.06 trillion in 2023. The bank's total assets rose by 11.64% YoY, from IDR 2,174.22 trillion in 2023 to IDR 2,427.22 trillion in 2024, making BMRI the largest bank in Indonesia by assets.

According to Bank Mandiri's Finance and Strategy Director Sigit Prastowo, the bank has maintained a stable dividend payout ratio of 60% over the past five years, aligning with guidance from the Ministry of BUMN.

Bank Negara Indonesia (BNI)

BNI distributed 50% of its 2023 net profit totaling IDR 10.45 trillion as cash dividends. The Indonesian government, holding a 60% stake, received IDR 6.27 trillion.

BNI's consolidated net profit for 2023 was IDR 21.5 trillion, marking a 2.7% YoY increase from IDR 21.11 trillion in 2022. The bank's total assets grew 4.0% YoY, reaching IDR 1,129.81 trillion in 2024.

According to BNI President Director Royke Tumilaar, the bank aims to increase its dividend payout ratio to 55%–60% for the 2024 fiscal year, up from 50% in 2023. He emphasized that the final decision rests with the General Meeting of Shareholders (RUPS).

PHOTO: CNBCINDONESIA/ARISYUA RAHADIAN

This article was created with AI assistance.