BRI Danareksa

What BRI Danareksa does

BRI Danareksa Sekuritas (BRIDS) is an Indonesian securities firm headquartered in Jakarta, operating as a majority-owned subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk (BRI), which acquired a 67% stake in 2018 and rebranded the firm from Danareksa Sekuritas in October 2020. The company offers a full-service capital markets platform spanning retail brokerage, institutional brokerage, investment banking (IPO underwriting, M&A advisory, rights issues, bond and sukuk issuance), and equity/fixed income research. Its core retail technology is the BRIGHTS unified mobile and web trading application, which enables trading of stocks, mutual funds, and bonds in a single interface, supported by a WhatsApp-based virtual assistant (BRIANA), digital onboarding via eform.brights.co.id, and a margin trading facility. Investment banking capabilities are anchored by Direct Market Access (DMA) institutional trading technology and a track record of landmark mandates, including the BRI Rights Issue (Rp95.92 trillion) and the Mitratel IPO (Rp18.34 trillion).

BRIDS generates revenue primarily through transaction-based brokerage commissions (~54% of revenue, with retail contributing ~52% of brokerage), supplemented by investment banking advisory and underwriting fees, margin lending (gadai efek) interest income, and third-party product distribution fees (mutual funds, government bonds). Pricing is pay-as-you-go: buy fee 0.17%, sell fee 0.27%, minimum deposit Rp100,000, with a freemium app model and free research and recommendations for all users. Distribution is hybrid: a 10-branch direct network and 14 SID outlets; ~30+ SIB partner outlets embedded in BRI bank branches via the 2021 APPE agreement; 697 IDX Investment Galleries operated jointly with IDX and Pegadaian; and a campus partnership program across 30+ Indonesian universities. Customer segments include retail investors (targeting under-40 millennials via BRIGHTS), institutional investors, corporate issuers and SOEs/government entities. In 2025, the firm reported 23% revenue growth and over 200% operating profit growth, driven by the BRIGHTS digital channel (online retail +156% YoY) and was named Most Active Securities Firm by IDX.

Name

BRI Danareksa

Legal name

PT BRI Danareksa Sekuritas

Website

https://bridanareksasekuritas.co.id

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

501–1,000 employees

Short description

BRI Danareksa Sekuritas (BRIDS) is a Jakarta-based Indonesian securities firm, majority-owned by state-owned bank BRI, offering retail and institutional brokerage, investment banking, and research via the BRIGHTS digital trading platform, with distribution leverage from BRI's 10,000+ branch network.

Ownership category

akta.pro rank

Product category

Securities Brokerage and Investment Banking

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Investment Banking and Securities Intermediation (52315), Investment Banking and Securities Intermediation (523150)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Independent Broker-Dealers (Retail Network) (FSAAAAAC)

akta.pro secondary industries

Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI), Dividend, Interest & Distribution Services (FSACAKAD)

Keywords

• Securities brokerage services
• Investment banking advisory
• Retail trading platform
• Capital market research
• Equity underwriting services

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage Commission - Retail & Institutional: Brokerage business is the main revenue pillar contributing approximately 54% of total revenue. The retail segment dominates at 52% of brokerage revenue, with online retail channel growing 156% year-over-year in 2025. Commission fees are charged on equity trades executed on behalf of clients.
2. Investment Banking - Advisory, Underwriting & IPO: Fees earned from acting as underwriter for IPOs and bond issuances, financial advisory on M&A and strategic transactions, and participation in government/corporate capital market transactions (e.g., Mitratel IPO, BRI Rights Issue, Government Sukuk auctions). Investment banking business grew 45% in 2021.
3. Margin Facilities / Gadai Efek: Recurring income generated through margin lending (securities pawn/gadai efek) facilities, allowing clients to borrow against their securities portfolios with interest charged on the credit period.
4. Distribution of Third-Party Investment Products: Distribution of mutual funds (reksa dana) and government bonds (ORI, SUN/SBSN) as an authorized selling agent, earning distribution fees from fund management companies and the government.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels9 records

Core offering

BRI Danareksa Sekuritas (BRIDS) is an Indonesian securities firm providing retail and institutional securities brokerage, investment banking (IPO underwriting, M&A advisory, rights issues, bond and sukuk issuance), and capital market research. Its flagship BRIGHTS platform unifies stock, mutual fund, and bond trading in a single mobile and web application for retail investors, while dedicated institutional sales and investment banking teams serve corporate issuers, government entities, and institutional clients. Supporting services include Gadai Efek securities-backed lending (with Pegadaian), margin trading, and the D'ONE SOTS sharia-compliant trading system.

Product overview

BRI Danareksa Sekuritas (BRIDS) operates as a comprehensive securities company offering an integrated platform of capital market products and services. The core offering centers on the BRIGHTS digital trading platform, which unifies stock, mutual fund, and bond trading in a single application for retail investors. Supporting this are traditional brokerage services for both retail and institutional clients, Investment Banking (underwriting, advisory, IPO services), and Research. The company also offers specialized services including Gadai Efek (securities pawning) for liquidity needs, margin trading facilities, and education programs through the BRIGHTS platform. Customer support is enhanced through BRIANA, the company's WhatsApp-based chatbot assistant. The product portfolio spans the full investment lifecycle from account opening and trading execution to portfolio management and securities-backed lending.

Differentiator

Problem solved

Functional benefit

Products and services

• BRIGHTS Online Trading Application Mobile and web-based unified online trading platform enabling retail investors to trade stocks (saham), mutual funds (reksa dana), and bonds (obligasi) in a single application. Features include advance order functionality, free daily market research and recommendations, real-time market data, and digital account opening (eform.brights.co.id). Targeted at millennials, young investors, and Priority Banking clients.
• Retail Brokerage Stock, bond, and mutual fund trading services for individual retail investors, delivered through the BRIGHTS digital platform, branch offices, and SID outlets. Transaction fees of 0.17% (buy) and 0.27% (sell) with a minimum initial deposit of Rp100,000. The retail segment accounts for approximately 52% of brokerage revenue, with online retail channel growing 156% YoY in 2025.
• Institutional Brokerage

Quantifiable outcome

• Revenue grew 23% and operating profit grew >200% in 2025, driven by digital retail expansion and business model transformation.
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core, minor and flagship.

• Indonesia Stock Exchange (IDX)coreStrategic or Co-development Partner · 3 August 2022BRIDS partners with IDX to operate IDX Investment Galleries (697 nationwide as of 2022), providing community-level investor education, market information, and account opening services. BRIDS participated in inaugurating the 24th IDX GI in Surabaya at The Gade Coffee & Gold (Pegadaian office). These galleries serve as top-of-funnel customer acquisition points targeting first-time investors.
• PT Dayamitra Telekomunikasi Tbk (Mitratel)minorOthers · 22 November 2021BRIDS acted as underwriter for Mitratel's IPO on the Indonesia Stock Exchange, raising Rp18.34 trillion. Mitratel is the largest telecommunications tower company in Indonesia by number of towers.
• PT Bank Rakyat Indonesia (Persero) Tbk - Wealth Management (APPE Partnership)flagshipChannel Partner/ Reseller/ Distributor · 8 September 2021BRIDS signed an APPE (Agen Perantara Pedagang Efek) agreement with BRI's Wealth Management division, enabling BRI bank employees to refer customers to BRIDS for securities brokerage services. This strategic partnership is designed to strengthen BRIDS' retail market position and expand the BRI Group's integrated financial services customer base.
• PT Pegadaian (Persero)flagshipStrategic or Co-development Partner · 9 July 2020BRIDS and Pegadaian launched the Gadai Efek (securities collateral lending) product, allowing investors to obtain loans of Rp1 million to Rp5 billion (retail) or up to Rp20 billion (institutions) using their stock or government bond holdings as collateral for up to 90 days. The partnership enables BRIDS to offer margin financing while Pegadaian expands into capital market-backed lending. The partnership was later extended nationwide in 2025 with online integration.
• BRI Insurance (PT BRI Asuransi Indonesia)minorStrategic or Co-development PartnerBRI Insurance partnership provides BRIDS customers with free personal protection coverage up to Rp50 million when they transact a minimum of Rp300 million within one period. This adds a financial protection benefit to the brokerage offering, enhancing customer retention and value proposition.

Scale indicators14 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Mandiri Sekuritas: Securities arm of Bank Mandiri, another major Indonesian state-owned bank. Directly comparable as a SOE-bank-affiliated broker with retail brokerage, investment banking, and research services targeting the same Indonesian investor base.
• Trimegah Sekuritas Indonesia: Indonesian securities firm offering retail brokerage, institutional sales, investment banking, and research. Comparable full-service brokerage model with similar client segments and product offering.
• Samuel Sekuritas Indonesia: Established Indonesian securities firm offering retail and institutional brokerage, investment banking, and online trading. Comparable full-service brokerage serving similar retail and corporate clients.
• Bahana Sekuritas: Indonesia's oldest SOE-affiliated investment bank, linked to Bahana TCW Investment Management. Comparable in investment banking, fixed income, and government securities (SBN/SBSN) franchises, serving similar institutional and retail clients.
• Maybank Sekuritas Indonesia: Securities arm of Malayan Banking Berhad (Maybank) in Indonesia. Comparable bank-affiliated broker providing retail and institutional brokerage, IB advisory, and research services in the Indonesian market.
• CGS-CIMB Sekuritas Indonesia: Joint venture of CGS International and CIMB Group in Indonesia. Comparable regional-affiliated broker with retail, institutional, and investment banking capabilities serving Indonesian clients.
• BNI Sekuritas: Securities subsidiary of Bank Negara Indonesia (BNI), a state-owned bank. Closely comparable SOE-affiliated brokerage with retail trading, IB advisory, and distribution via BNI's banking network.
• Mirae Asset Sekuritas Indonesia: Subsidiary of Mirae Asset Securities (Korea), a leading Asian brokerage. Comparable in retail trading, research, and investment banking services for Indonesian retail and institutional clients.
• Indopremier Sekuritas (IPOT): One of Indonesia's leading digital-first retail brokerages, operating the IPOT app. Directly comparable in retail stock trading, mutual fund distribution, and online brokerage for Indonesian retail investors.
• Henan Putihrai Sekuritas (HPU): Long-established Indonesian securities firm providing retail and institutional brokerage, investment banking, and research. Comparable in product offering, market segment focus, and distribution approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/DanareksaOnline
• LinkedInlinkedin.com/company/bri-danareksa
• Instagraminstagram.com/@bridanareksa
• TikToktiktok.com/@bridsofficial

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BRI Danareksa