One of the largest state-owned banks in Indonesia, Bank Rakyat Indonesia (BRI) was established on December 16, 1895 by Raden Bei Aria Wirjaatmadja in Purwokerto, Central Java under the name De Poerwokertosche Hulp en Spaarbank der Inlandsche Hoofden or 

Bank BRI became the first State-Owned Bank in Indonesia as stipulated in Article 1 of Government Regulation No. 1 of 1946 following the independence day of the Republic of Indonesia. Bank BRI’s activities were temporarily ceased during the revolutionary war in 1948. The Bank resumed its operation after the Renville Agreement in 1949, changing its name to Bank Rakyat Indonesia Serikat.

Through Government Regulation in Lieu of Law (PERPU) No. 41 of 1960, Bank Koperasi Tani dan Nelayan (BKTN) was established with the merger of BRI, Bank Tani Nelayan, and Nederlandsche Maatschappij (NHM). Hence, in accordance with Presidential Decree (Penpres) No. 9 of 1965, the BKTN was integrated into Bank Indonesia under the name Bank Indonesia Urusan Koperasi Tani dan Nelayan. After one month, Presidential Decree No. 17 of 1965 concerning the establishment of a unit bank under the name Bank Negara Indonesia was published. Under the new regulation, Bank Indonesia Urusan Koperasi, Tani dan Nelayan (former BKTN) were integrated into Bank Negara Indonesia Unit II Rural Sector and NHM was converted into Bank Negara Indonesia unit II Export Import Sector (Exim).

Pursuant to Banking Law No. 7 of 1992 and Government Regulation No. 21 of 1992, BRI officially became a limited liability company on August 1, 1992. At that time, the Government controlled 100% of BRI’s ownership. In 2003, the Government decided to sell 30% of the bank’s shares and made the bank a public company under the official name PT Bank Rakyat Indonesia (Persero) Tbk. which it still uses today.