Good morning, everyone, and thank you for joining Bank Rakyat Indonesia's first half 2026 earnings call. We truly appreciate your time and continued interest in BRI. Before we begin, please allow me to introduce the members of our board of directors who are joining us today. Our Group CEO, Pak Hery Gunardi. Good morning, everyone. Our Director of Finance Strategy, Pak Achmad Royadi. Morning, everyone. Our Director of Micro, Pak Akhmad Purwakajaya. Morning. Our Director of Risk Management, Ibu Ety. Good morning. Our Director of Consumer Banking, Pak Aris. Good morning. Our Director of Corporate Banking, Pak Riko Tasmaya. Good morning, everyone. Director of Commercial Banking, Pak Dippo. Morning, everyone. Before we move into presentation, just a couple of quick housekeeping points. First, we encourage you to download the presentation materials available on our website or through the link shared earlier this morning. Second, during the Q&A session, please raise your hand and we will invite you to unmute and ask your question. With that, I will now hand over to Pak Hery Gunardi, our Group CEO, to begin the presentation. Please, Pak. Thank you, Siaga, and good morning, everyone, and thank you for joining us. Before discussing our results, let me briefly touch on the microenvironment, recent policy responses, and how BRI is navigating this development. Despite an increasingly uncertain global macroeconomy marked by the geopolitical tensions, trade fragmentation, and tighter global financial condition, Indonesia continues to demonstrate macroeconomic resilience. GDP growth remained resilient at 5.29% year-on-year in second quarter 2026, supported by consumption, 53.3% of GDP, with improving lower middle-income spending in food and beverage and clothing. Inflation remained within BI target range, while the rupiah has stabilized and BI rate remained at 5.75%. Recent SRBI auction yield also is to around 7% from 7.7% in the June, indicating improving funding condition and supporting domestic liquidity. For BRI, this create a favorable but selectively growth environment, improving purchasing power should gradually support transaction funding, and also financing demand across our core MSME ecosystem. At the same time, a still fragile recovery at the lower end reinforce the importance of disciplined growth, strong underwriting, and also continued focus on asset quality. GDP growth remained resilient, 5.29% year-on-year in second quarter 2026, supported by consumption, 53.3% of GDP. Overall, the direction remained positive. Domestic demand is resilient, consumption is broadening, and the foundation of the stronger MSME recovery gradually forming, providing a supportive backdrop of BRI sustainable growth. First of all, again, this micro backdrop, both the government and Bank Indonesia are taking targeted measures, support by growth while managing liquidity, rupiah, and financial stability risks. On the fiscal side, targeted support and priority spending are protecting purchasing power, while B50 downstreaming and initiative to attract global capital are creating new investment and value chain opportunities with fiscal discipline maintained. At the same time, Bank Indonesia is balancing growth and stability through its policy rate, liquidity incentive, SRBI optimization, and also effective measures to support credit transmission, banking liquidity, and rupiah stability. Overall, the policy mix is becoming more supportive for banking intermediation, fiscal policy, credit demand investment, while BI support liquidity, credit transmission, and effect stability for BRI. This provides opportunities across corporate and commercial value chains, consumer and micro recovery. Let us now turn to the banking sectors of BRI competitive positioning. Indonesia's banking sector remained resilient with a loan growth accelerating to 12.7% year-on-year, supported by healthy liquidity as deposit growth 10.2%, and LDR remained at 88.3%. Industry fundamental remains sound, with stable NIM improving asset quality and strong capital providing ample capacity for further growth. BRI continues to outperform the industry, delivering 16.2% loan growth, supported by strong CASA franchise and digital transaction ecosystem. Importantly, BRI maintains structurally superior profitability with net interest margin at 7.7%, while improving loan at risk demonstrate that growth continues to be driven by discipline at risk selection. With a strong capital resilient funding improving asset quality, BRI remains well positioned to deliver sustainable and profitable growth. First of all, as we have continuously communicated over the past few quarters, our strategic priorities remain unchanged. We believe these priorities are increasingly relevant in today operating environment and continue to get how we allocate the capital and also execute our business. Our focus remains on the two key areas. First, we are transforming the funding franchise. On a low-cost funding, we are accelerating merchant primary account acquisition through digital onboarding, while deepening CASA penetration in priority clusters to improve funding efficiency and customer stickiness. Beyond funding acquisition, we are strengthening transaction banking capabilities. In retail, we are expanding EDC and QRIS penetration through ecosystem-based cluster, while continuously improving BRImo capabilities. For SME and wholesales, we are building a One BRI solution, connecting transaction banking with the supply chains opportunities to capture a larger share of customers' financial flows. Second, we are strengthening our core while accelerating the new growth engines. In the micro, we are improving portfolio quality through stronger underwriting and collection, while enhancing productivity through better screening and also the streamline process. At the same time, we are diversifying growth by expanding consumer through feral ecosystem and strengthening corporate and commercial value chains, balancing stronger growth with a better quality. These initiatives are enabled by investment in people, data and artificial intelligence, digital distribution, operation, and also risk management, allowing us to execute a scale while maintaining the discipline. Data central to BRIvolution Reignite, and we are already seeing the benefit in stronger funding, improving asset quality, and more diversified earning base, reinforcing our confidence in the trajectory toward our long-term aspirations. Ladies and gentlemen, let me highlight how our transformations is translating into the concrete execution and tangible result across the franchise. First one, transforming the funding franchise. This is already delivering result, with CASA reaching 67.6% and cost of fund improving to 2.4%, while higher transaction activity create more opportunities to capture low-cost funding. The second one is the repumping micro or core fund franchise. We are strengthening the credit process end to end from tighter pre-screening and underwriting to stronger collections. The result are becoming visible. Micro return to positive 0.68% quarter-to-quarter growth. Micro cost of credit improved to 3.8%, and NPL formation declined to 4.5%. To further accelerate recovery, we are continuing to expand our field collection force progressively building toward our target around 5,500 staff we call the field collections. The third one is accelerating the new growth engine in consumer and gold businesses. We are leveraging payroll and also BRI broader ecosystem to acquire high-quality customers and deepen relationship. With payroll saving balance reaching IDR 82.9 trillion alongside strong momentum in the gold sales and also gold installment. Finally, capturing tactical growth in Corporate and Commercial through One BRI solution, we are moving beyond lending and capture the entire value chain, from financing and transaction banking to payroll and CASA. This is already driving strong transaction and also ecosystem deposit growth while creating broader cross-selling opportunities across BRI Group. Turning to funding, our priority is clear. We want to build a stronger, more granular, and more sustainable funding franchise, and the progress in the first half is encouraging. CASA growth 10.1% year-on-year, with the saving growing 11.3% year-on-year, lifting our CASA ratio to 67.6%. More importantly, CASA continued to grow sequentially despite the tighter core liquidity, showing that our funding strategy is gaining transaction. The quality as growth is also improving. Retail CASA grew 13.4% year-on-year, significantly faster than deeper customer relationship transaction and also ecosystem. At the same time, we remain disciplined on funding costs. Cost of fund was well managed at 2.4%, while our reliance and the special retime deposit declined and deposit pricing became more efficient. The key message is not simply that deposits are growing. We are improving the structure and also the quality of our funding, more CASA, stronger retail contribution, and better pricing discipline, which provide a stronger foundation for sustainable and also profitable growth. Within our loan portfolio, Micro remained a cornerstone of BRI franchise, representing 43.4% of the total loan. Encouraging, we are beginning to see signs of stabilization, with a standalone Micro delivering positive year to date for the first time since 2023, supported by the stronger KUR disbursement and while we continue to prioritize portfolio quality over volume. I say again, while we continue to prioritize portfolio quality over volume. At the same time, consumer has continued to grow driven by higher mortgage disbursement to Tier 1. Tier 1 is a good quality for the mortgage developer and also fair loan. Corporate and Commercial remain key growth contributors, with a selective lending focus on resilient sectors, value chains, and also ecosystem opportunity. Together, with a gradual recovery in Micro, the segment supported 16.2% year-on-year consolidated loan growth. Importantly, this portfolio diversification has not compromised our earning profile, with the loan yield remaining stable at around 12.2%, also supported by the contribution from Pegadaian and also PNM is our subsidiaries company. Going forward, our strategy remain clear, strengthen and restore sustainable growth in Micro while selectively expanding Corporate, Commercial, and also Consumer to build a more balanced, diversified, and also profitable portfolio. Let me now turn into our first half performance or second quarter performance of all the progress in our transformation in then translating into the financial result as of June 2026. We continue to strengthen the balance sheet with asset growing to 11.7% and deposit was 6.7%, while improving the quality and composition of both of funding and also lending portfolio. We deliver strong and broad-based growth with loan and financing growing 16.2% year-on-year, supporting by higher earning asset and driving net interest income growth of 9.9% year-on-year. More importantly, this growth is translating into the stronger profitability. PPOP increased 12.8% year-on-year, while net profit grew at a faster at a 17.5% to IDR 31.2 trillion, demonstrating improving earning quality and operating performance. The key message from our first half performance is clear. BRI did not just deliver growth, we are improving the quality of growth with a healthier balance sheet and more balanced portfolio and also stronger profitability. Our profitability and asset quality metric continue to improve, reflecting a more efficient balance sheet and the early benefit of strategic action we have taken. Net interest margin moderated slightly to 7.7% as our portfolio mix continued to diversify beyond Micro. However, this were largely offset by 69 basis point declining in cost of fund to 2.4%, demonstrating the strength of funding franchise and disciplined balance sheet management. The asset quality continue to improve with loan at risk declining to 9.1% and cost of credit improving to 3.1%, supported by lower new NPL formation and better portfolio quality. The combination of lower funding costs and lower credit costs more than offset margin normalization, resulting a stronger earning quality and higher balance sheet efficiency. As a result return on equity increased to 18.8%, while return on assets also increased to 2.7%, reflecting more efficient capital deployment and also improved shareholder return. Overall, we are pleased with our strong first half 2026 performance, with the benefit of our transformation increasingly visible across both operating metrics and also financial results. We will discuss our full year 2026 guidance and also the outlook later. First, I would like to transfer to Pak Royadi, our CFO, who would like to go through the financial performance in more detail. Pak Royadi, please. Thank you. Thank you, Pak Dirut. Before I move to financial performance, I would like to discuss about some areas of improvement. First, our retail funding strategy is centered on increasing customer transaction activity, as customers who transact more frequently typically maintain higher and more stable deposit balance. By leveraging our nationwide customer base and distribution network through BRImo, BRImerchant, QRIS, and billing agents, we are capturing a larger share of customer daily payment and transaction flow, which in turn supports sustainable retained CASA growth. For BRImo, monthly active users increased 15.6%, from 19.3 million to 22.4 million, reflect stronger and more frequent customer engagement across BRImo. Financial transactions increased by 30.6%, and transaction value grew by 28.3%. The number of proactive merchants also increased 20.1%, while sales volume per merchant grew 17.8%, supported by our merchant engagement initiative that strengthened usability, trust, and transaction adoption. Our QRIS sales volume per store also increased by 53.8%, and the number of transactions also grew by 86%. Billing agent allows us to leverage our nationwide networks beyond physical branches, bringing banking service closer to the customer while expanding transaction flow. This translated into 28.6% growth in CASA from billing agent and fee income IDR 905.7 billion, increased 16.3% year-on-year, making billing an increasingly important contributor to both funding and earning. BRImo also has evolved significantly since its launch in 2019, with its user base expanding by 16.8x. More importantly, it has evolved beyond a banking application into BRI primary retail platform, addressing customer needs from daily banking and payment to investment, lending, lifestyle, and gold service within a single ecosystem. This broader proportion continues to deepen customers' engagement. As of June 2026, BRImo processed over IDR 8,000 trillion in transaction value across 6.4 billion transactions. While transaction frequency per user continued to increase, it is reflecting BRImo's growing role as our customer primary banking platform. Beyond transaction, BRImo is also becoming a scalable distribution platform for the group. Gold saving reached 650,000 accounts, demonstrating increasing digital adoption. More importantly, with BRI Group extensive customer base, we see substantial runway to accelerate cross-sales of gold product across the ecosystem, increasing product penetration, strengthening customer relationship, and generating additional funding and fee-based income over the long term. Next, on the micro side, we are encouraged that the initiatives we have implemented are beginning to translate into tangible improvement in portfolio quality. Net NPL downgrades appear to have peaked in the first quarter and continue to decline in the first half of the year, improving from 5.93% to 4.48%, indicating a more consistent asset quality improvement trend. This improvement reflects the structural change we have made across the Micro business. We have strengthened our end-to-end credit process through more granular pre-screening and analytic-led credit scoring, reinforced underwriting discipline with mandatory on-site credit verification, and redesigned the operating model by introducing more specialized loan officers across origination, payroll lending, recovery, and collection. At the same time, we are improving portfolio management by optimizing the span of control of the loan officers, enabling closer customer engagement and more effective relationship-based banking, which remain fundamental in the Micro segment. While there is still work to be done, this early improvement reinforce our confidence that the action we have taken are building a healthier and more resilient micro franchise. At the same time, new loan quality is improving meaningfully. Recent micro loan vintages, especially Kupedes, are performing better, with lower SML vintages across cohort compared to the prior years. On the second engine performance, consumer, these initiatives are starting to deliver results, as reflected in the growth of our consumer and gold-based lending and saving, driven by a focus on high-quality customer and improved portfolio traction. Consumer loan grew 9.9%, driven by a 9.5% increase in the payroll loans and 12% expansion in mortgage. Backed by strict risk selection targeting higher quality private payroll clients and Tier 1 developers. Mortgage disbursement to Tier 1 developer increased to 21% in the first half 2026, increased from 12% last year, directly reflecting our deliberate pivot toward lower risk, high quality real estate assets. Auto loans also expanded significantly, 404% year-on-year, with growth carefully directed toward low- risk segment within the BRI Group's ecosystem via integrated underwriting and strategic dealer partnership. Funding under management in our wealth management also increased 3.2% through deeper cross-segment relationship, positioning us to optimize wealth management fee income by expanding investment offering and scaling cross-referral execution. In the gold business, gold installment increased up to quite significant, 131.5%, targeting not only high net worth individual customer, but also mass affluent. Gold saving increased 47.4% with active customer increasing 60.5% year-on-year. It is supported by expanded sales channel B2B transaction and cross-selling to BRI group customer through BRI extensive distribution networks. Let me explain how we repositioning our corporate and commercial business within the group. Our objective is no longer simply loan growth. We are using lending relationship to build broader banking system through One BRI solution, increasing transaction banking, CASA, and cross-segment opportunities. Corporate remain well-diversified, with 58% of loan in investment lending, creating longer-term relationship and opportunities to capture operating account, cash management, and payment flow. Commercial lending also diversifies across 11 priority sectors, around 70% in working capital, keeping us embedded in customer daily business activities. For commercial, we are increasingly linking lending with ecosystem deposit. Higher deposit penetration within the relationship improves transaction visibility and underwriting quality, while creating opportunities to capture larger value chains. Qlola is the key platform to deepen this relationship, enabling us to capture more customer transactions while growing CASA and fee income. Active user increased 42.6% to around 100,000 clients. Fee income increased 22.3%, while transaction volume grew 59.5% to 558 million in first half 2026. We are now piloting One BRI solution with selected corporate and commercial anchor clients, connecting them across BRI broader customer ecosystem. Relationship level KPIs are being introduced to systematically cover this anchor into group- wide opportunities. During the first half of the year, BRI total asset increased by 11.7%, driven by loan growth 16.2%, reflecting continued momentum across our diversified lending portfolio. As discussed by Pak Hery, we continue to prioritize CASA, with nominal CASA growing 10% year-on-year, and also saving also grew good, 11.3%. Amid tighter liquidity in the second quarter 2026, we selectively utilized other interest-bearing liabilities to support loan growth while maintaining funding cost discipline. At the consolidated level, Pegadaian and PNM contribute 12.6% total loans, increased from 10.7% a year ago, reinforcing our leadership in Micro segment, while at the same time diversifying the group earning profile. Loan loss reserve maintained at 5.2%, reflecting our prudent provisioning approach. We continue to maintain overlay established since 2024, while utilizing reserve built during the pandemic to absorb write-offs. Meanwhile, government bonds and marketable securities increased 12.2%, reflecting disciplined liquidity management and optimization of surplus liquidity into yield-generating asset. Finally, equity increased 2.1% year-on-year, despite total dividend distribution of around IDR 52.1 trillion, comprising of IDR 20.7 trillion interim dividend paid in January 2026 and IDR 31.5 trillion final dividend paid in April 2026, equivalent to total DPS around IDR 346 per share. As we look ahead, we plan to gradually optimize our dividend payout to retain additional capital, supporting future growth opportunities while maintaining an attractive return to shareholders. Next, we move to balance sheet. Now we move to income statement. Our first half 2026 result demonstrate that our strategy initiative are translating into stronger and higher quality earnings. Net interest income increased 9.9% year-on-year, supported by healthy loan growth despite portfolio diversification into Corporate and Commercial segment. While these businesses carry relatively lower yield, they deepen client relationship, strengthen transaction banking, and support sustainable CASA generation. Together with disciplined funding management, cost of fund remains stable at around 2.4%, while interest expense declined 5.9% year-on-year. Margin resilience was further supported by increasing contribution from our subsidiaries, Pegadaian and PNM, especially Pegadaian, keeping consolidated loan yield above 12%. Meanwhile, non-interest income grew 0.2%, driven by fees income, strong gold related revenue, and treasury gains. Recovery income declined due to timing of insurance claims integration in the first quarter, which has now been resolved. More importantly, our asset quality initiatives are gaining traction, supported by the addition of more 3,800 field collection and stronger collection capabilities result in improvement micro collection performance. OpEx increase manageable only 0.7%, largely reflecting in high base from personal expenses front-loaded in the first half 2025 in anticipation on tax related regulatory changes that did not materialize in 2026. This allow us to continue investing in business and collection capabilities while maintaining CIR at 39.2% within the guidance. Managed provisions, supported by 12.8% PPOP and 17.5% net profit growth, reflecting improving asset quality and more resilient funding franchise. As highlighted earlier, our continued focus on funding quality, disciplined balance sheet management, and improving asset quality has enabled us to maintain healthy profitability despite a more challenging operating environment. Consolidated NIM stood at 7.7% as of June 2026, tracking with full year 2026 guidance despite system liquidity tightening, supported by disciplined funding, cost optimization, and subsidiary growth led by Pegadaian that grew 52.8%. LDR also was maintained at healthy 90.8%, with the loan concentration expanding to 75.3% of total assets, while system liquidity remains strictly contained within the target boundaries backed by a granular retail deposit base. Non-interest income continued to grow, supported by strong fee income and gold related revenue. Pegadaian remain a key contributor, leveraging its expanding ecosystem and BRImo distribution channel to drive net gold fee income to IDR 2.1 trillion or increase 145% year-on-year. Recovery income moderate year-on-year due to lower insurance claim recoveries. However, recovery trend have continued to improve sequentially, with recovery rate increasing to 44.4% in first half 2026 from 38.6% in the first quarter 2026. We continue to expect recovery rate to gradually normalize to our target range [inaudible]. Looking ahead, we remain committed to disciplined cost management, targeting to OpEx- to- asset ratio around 3%-4% and CIR of 41%-43%. Supported by ongoing productivity improvements and greater ecosystem synergy, we remain confident in our ability to deliver sustainability earning growth while managing operating efficiency. The last part, our capital position remains strong with a total CAR is 21.5%, well above both regulatory requirement of 14.7% and our internal risk appetite around 17%. This provide ample capacity to support future business growth while maintaining a prudent capital buffer. Over the medium term, we intend to optimize our capital structure by maintaining minimum CAR of around 20%. Following the payment of full year 2025 final dividend in April 2026, capital naturally moderate this quarter. However, we continued earning generation. We expect capital to rebuild in coming quarters while remaining comfortably above our target level. Regarding dividend, full year 2025 represent the fifth consecutive year of high payout following 2021 rights issue and establishment of the Ultra Micro Holding. As the integration phase is now complete and our capital position has normalized, we believe it is appropriate time to gradually transition toward a more balanced capital allocation framework. Accordingly, for full year 2026, we expect the payout ratio to begin to normalize in alignment with our sustainable growth rate, balancing attractive shareholder return with sufficient capital to fund future growth opportunities. With that, I would like to turn the presentation to our Director of Micro, Pak Akhmad, to say more on the Ultra Micro and Micro business segment. Okay. Thank you, Pak Royadi. Let me now elaborate on the performance and outlook of our Micro segment. As of first half 2026, we consolidated Micro loans reached IDR 712.9 trillion, growing 6.4% year- on- year. While BRI's Micro portfolio is beginning to stabilize, the overall segment continued to benefit from strong growth at Pegadaian, which expanded by 52.8% year- on- year. Pegadaian's contribution to consolidated loans increased to 9.4% from 7.2% a year ago, while PNM represented 3.1% of total loans as we maintain a selective growth strategy to prioritize portfolio quality. Beyond favorable gold prices, Pegadaian continues to strengthen its long-term franchise through the expansion of its bullion banking businesses, B2B ecosystem, and digital capabilities. These initiatives continue to diversify its earning base and reinforce its strategy role within the ultra-micro ecosystem. Asset quality also continued to improve across our subsidiaries. PNM's loan at risk declined by 214 basis points year-on-year to 7.2%, supported by a loan coverage ratio of 90.9%. Meanwhile, Pegadaian's cost of credit improved by 31 basis points to 1.5%. Although gold prices moderated during second quarter 2026, Pegadaian's prudent LTV policy and predominantly gold-backed portfolio continue to support resilient asset quality. Looking ahead, we expect Pegadaian's growth to gradually normalize alongside gold prices. For BRI Micro and PNM, we remain encouraged by the improving operating trends. However, given the current geopolitical uncertainty and tighter liquidity environment, we will continue to prioritize asset quality over growth. As macro conditions become more supportive, we believe we are well positioned to gradually accelerate micro lending from a much healthier foundation. Turning to BRI Micro portfolio, outstanding loans stood at IDR 506.4 trillion. While this represents a 2.2% decline year-on-year, reflecting our deliberate strategy to prioritize asset quality over growth, like Hery mentioned before, and the portfolio began recovering in second quarter 2026, delivering a modest growth of 0.7% quarter- on- quarter and 0.2% year to date. Our focus remains on building a healthier and more sustainable micro franchise rather than pursuing short-term volume. Our selective growth strategy is supported by a more data-driven underwriting approach, leveraging enhanced pre-screening and analytical through BRISPOT or BRILian Sales Platform, alongside improvements in field execution and business processes. At the same time, we continue to strengthen portfolio management by optimizing the span of control at the loan officers level, enabling closer customer engagement and a more proactive portfolio monitoring. As a result, the number of borrowers per loan officer declined from 490 to 459, while loan outstanding per officer stood at IDR 18.8 billion, supporting better portfolio oversight and risk management. KUR continued to grow by 10.2% year-on-year, with cumulative disbursements reaching IDR 103.8 trillion or 57.7% of the annual quota. Meanwhile, Kupedes continued to contract as we worked through legacy portfolio originated in 2023 and 2024. Encouragingly, we are beginning to see early signs of stabilizations, providing greater confidence that the micro portfolio is moving in the right directions. Looking ahead, we will continue executing across people, business processes, and risk management, with the focus shifting from implementing the changes to scaling them across micro business. We expect this translate into sustained lower NPL formations, higher loan officers' productivity, and healthier growth trajectory for micro. Now I would like to turn the presentation over to our Director of Risk, Ibu Ety, to discuss our asset quality. Thank you. Thank you, Pak Akhmad Purwakajaya. Moving into loan quality, our consolidated NPL declined by 14 basis points year-on-year to 2.9%, driven by improvement in both bank only as well as subsidiaries NPL. In the bank- only, the gradual decrease in NPL was part of our soft lending strategy in Micro, SME, and Commercial segment. In the Micro segment, NPL increased 34 basis points year-on-year, but SML lowered by almost 150 basis points, showing that new booking has improved. Hence, we prefer to optimize our CoC by allowing NPL ratio to be a bit higher. The NPL formation is down 150 basis points from 5.9% in the first half of last year to 4.4% this year, but still higher than pre-pandemic level of around 2.5%. Loan at risk formation, primarily driven by SML, is down by almost 300 basis points from 6.7% first half last year to 3.8% this year. If you look at quarter-on-quarter performance, NPL ratio also shows improvement from 4.15% to 4.11%, and quarter-on-quarter SML is down 5.6% to 5.1%. We continue to see optimism in 2026 as we expect that classified loan level will continue to lower and will be below 9% by September 2026. In the SME segment, if you look at year-on-year performance, both NPL and SML ratio has improved. NPL lowered by 24 basis points and SML is 115 basis points. Quarterly performance also shows stable improvement. Both NPL and SML ratio lower by 37 basis points and 34 basis points consecutively. We implement improvement in RAC and lending model, especially for ecosystem related project financing, and add 700 account manager that specifically handles SML portfolio for branches with higher loan at-risk portfolio since fourth quarter last year. In the first quarter this year, we also evaluate approval limit given to head of branch and small business manager, and we suspend around 100 personnel until third quarter this year. We also start to have specific certification for SME underwriting starting second half this year as part of evaluation process for these suspended personnel. By end of the year, we expect moderate improvement in loan quality, perhaps lower around 1% from June 2026. In the Commercial segment, looking at year-on-year position, SML has improved 160 basis points, but NPL increased slightly at 183 basis points. This was part of proactive cleanup of legacy or pre-2023 exposure that we prepare the position for future growth. With loan growth assumption close to 40% this year, we expect to maintain SML ratio below 1.5%, and we will gradually clean up the NPL to get lower than 4% level by September. Until June, year-to-date commercial loan growth is around 17% or around IDR 11 trillion. Most of the growth comes from Jakarta, Surabaya, and Pekanbaru. In the Corporate segment, Corporate segment grew 19% or IDR 68 trillion year-to-date, primarily to support PSO entity such as Pertamina. Pertamina loan is largely short term, and some will due in September. That is why we expect in the second half, loan growth in Corporate will be negative, and we will arrive probably around 10%-15% growth year-on-year by end of this year. In terms of loan quality, both NPL and SML ratio has improved year-on-year and quarter-on-quarter. We plan to maintain the classified loan level around 3%-3.5%. In the Corporate segment, our watchlist sector is construction, especially SOE, the Karya family, Waskita, WIKA, Adhi, and PTPP. Our total exposure in the SOE construction is IDR 14.2 trillion for the non-government guarantee and non-cash collateralized. It consists of Waskita IDR 3 trillion, WIKA IDR 2.8 trillion, Adhi IDR 3.4 trillion, and PTPP IDR 2.1 trillion. In terms of collectability, WIKA and PTPP still current, while Waskita and Adhi already categorized as SML, but in July, we already downgraded PTPP to SML. Our approach to this customer is to follow the commitment and restructuring package discussed with Danantara as well as other banks, as well as gradually increase the provisioning coverage. As for subsidiaries, overall loan quality performance, primarily in Pegadaian and PNM, is stable in the first half, and we expect similar condition to persist in the second half, given that the expectation of gold price will be stable around $4,500 per troy ounce, and it has lowered since the peak in January, $5,500 per troy ounce. For Pegadaian, year-on-year NPL and SML has declined by seven basis points and 71 basis points consecutively, while quarter-on-quarter NPL slightly increased 20 basis points to 0.7%. Quarter-on-quarter SML increased a bit by 38 basis points to 3.5% due to lower gold price since the peak in January, as we prefer to not write off the loan. In the PNM, the loan quality continues to improve since 2025. Year-on-year NPL is down by 34 basis points. Year-on-year SML are down significantly by 144 basis points. Quarter-on-quarter basis, NPL slightly increased 20 basis points to 1.87%, while SML is still consistently lower by 81 basis points to 4.6%. Hence, the overall loan at-risk is below 7% in June for PNM. Now we back to Micro segment, and I will deep dive a bit about Kupedes vintage. On the top left, you can see that the waterfall of the 2023 batch, the disbursement was IDR 200 trillion, and last year, the remaining outstanding was IDR 35 trillion, and in June it has lowered to IDR 23 trillion. Out of this remaining outstanding, the classified loan is IDR 8 trillion, and we probably need to write off around IDR 2.5 trillion in the second half. We expect that remaining outstanding by end of year will be around IDR 12.5 trillion. On the bottom left, for 2024 batch, the disbursement was much lower compared to 2023. Last year, remaining outstanding was close to IDR 50 trillion, and in June it has lowered to IDR 36.7 trillion. Of this remaining, the classified loan is IDR 11.8 trillion, and we plan to write off around IDR 3 trillion in the second semester. We expect that remaining outstanding of 2024 batch at the end of year will be around IDR 26 trillion. Combined, these two will be around IDR 40 trillion. At the bottom right, the 2025 batch vintage is showing better performance compared to 2023 and 2024 cohorts. The six-month on book in the second quarter and third quarter this year has improved from 3.1% to 3.3%, and fourth quarter further down to 2.4% because we already implement lots of limitation in the BRISPOT as Pak Akhmad Purwakajaya mentioned earlier. It was due to better underwriting process. With that confidence, in the top right, you can see also that we start to increase Kupedes booking in the second quarter this year, IDR 15.6 trillion or 4% increase compared to first quarter. Next, in terms of provisioning, due to improvement in loan at risk and NPL ratio, as well as some frontloading in CoC in the first half, we can see higher LAR and NPL coverage ratio. By June, our coverage is higher than December. LAR coverage is 57%, and NPL coverage is above 180%. Since we have audited number in June, we have updated the macroeconomic variable we use to calculate loan loss provision. Variables such as exchange rate and BI rate is the most used, especially for Kupedes, SME, commercial, and corporate loan. For KUR, it is unemployment and consumer price index. In addition, we also adjusted the LGD model to comply with OJK [No. 11], thus recovery income from claim is now deducting the exposure at default. This has generated significantly lower CoC, especially for KUR, and hence absorb the impact of increasing probability default due to changes in the macroeconomic variables. As I mentioned earlier about the exposure in SOE construction sector earlier, the total outstanding, excluding government guarantee and cash collateral, is IDR 14.2 trillion, and we have provision Waskita at around 75%, WIKA 65% since last year. In June, we frontloaded the provision for Adhi and PTPP. They were 15% in March, and in June we increased Adhi to 46%, PTPP to 48%. This provision is excluding the exposure in the performance bond of around IDR 4 trillion. After all the audit adjustment in June, our loan provision now stood at IDR 85.9 trillion, a steady increase if we compare to December and March, with loan loss reserve currently 5.2%. So we have some more room to lower them in the future when macro condition stabilizes and our loan quality further improve. In the last page, I will provide you the information about write-off and credit cost. Turning into write-off, our gross CoC improved from 3.4% to 3.1%, driven by BRI and PNM. At the bank level, improvement was led by Micro and SME segment, reflecting the lower NPL and LAR formation. This year, we allocated write-off budget around IDR 43 trillion-IDR 44 trillion. We have used IDR 21.5 trillion, so below than midpoint in the first half. We expect that in the second half will be less than IDR 21.5 trillion, actually. Most of the write-off used until the first half is mostly Micro, IDR 9.6 trillion, and SME, IDR 5.5 trillion. We also use some of it for Corporate, IDR 1.5 trillion, but we don't have any more pipeline in the second half for corporate. That's why we expect to use less write-off budget in the second half and optimize CoC, as our NPL in June is already in line with our target. In terms of recovery, our recovery income is flat year-on-year at IDR 9.4 trillion, while the Consumer and SME recovery soften. The Micro recoveries continue to improve, supported by dedicated field collection officer, as mentioned by Pak Hery and Pak Achmad Royadi, that now we already deploy 3,800 field collector and plan to add until 5,500 by end of this September. In the second half, we assume that if recovery from claim is steady, we expect slight increase in the recovery income, especially coming from Consumer, SME, and Corporate. With that, I would like to hand it back to our CEO, Pak Hery, to take us through takeaways and guidance. Thank you. Thank you, Ibu Ety. Let me now bring the discussion to our full- year 2026 guidance. Based on the strong momentum in the first half 2026, we are raising our full year guidance, loan growth guidance to until 10%, while maintaining our guidance on NIM, net interest margin, credit cost, and also cost to income ratio. The revision reflects stronger loan momentum and greater visibility across our more diversified growth engine. Importantly, this is not a change in our transformation strategy, but a reflection of the progress we are seeing from the execution. We continue to prioritize quality growth while maintaining discipline on asset quality and profitability. On loan growth, we are raising our full year 2026 guidance to 8%-10%. Micro is returning to positive sequential growth. Commercial momentum remains strong while consumer should benefit from housing related program, and gold businesses is expected to maintain steady growth. At the same time, government-led investment in downstreaming and B50 is creating additional financing opportunities across the plantations, energy, manufacturing, logistic, and related value chains. Combined with a stronger fiscal spending and supportive liquidity measures, we see room to capture this demand selectively while maintaining our risk discipline. Our NIM, we maintain our 7.4%-7.8% guidance, with the first half 2026 at a 7.7%, while liquidity and funding costs remain key watch point. Our focus on granular retail funding and available loan repricing should help manage the prices. With cost of credit at 3.1% and cost-to-income ratio at 39.2%, we see no fundamental reason to reset our guidance. We will continue to manage the balance sheet with the discipline, preserving both risk and buffer and capacity for the next phase of growth. Overall, we are entering the second half with a solid growth momentum and greater confidence in our diversified business, while maintaining a strong focus on funding, asset quality, and return. We will continue to execute our transformation agenda with the same consistency and also the discipline through the second half 2026 and beyond. Thank you. Thank you, Pak Hery. We will now move to the Q&A session. I will start a few questions from submitted on the chat box during the call, and then afterwards we will open the floor for participants to ask questions directly afterwards. The first question will be from Joshua Tanja from UBS. The question is, how management see the current macroeconomic pressure, rupiah inflation, risk of fuel price hike as being a hindrance or enabling factors to go faster in retail or micro lending in the second half 2026 and in 2027? I will now invite Pak Hery to respond to the question, Pak, from the first question from Pak Joshua Tanja. All right. Thank you, Pak Joshua, for the questions. The question is how management see the current macroeconomic pressures, so including the rupiah inflation, risk of fuel price hike in being hindrance, and enabling factors to go faster in the retail micro lending second half to 2026 and also 2027. Let me respond these questions. We have been seeing several positive indicators, both external and also internal factors, to support Micro segment growth. However, we also encounter challenge as well. In the Micro side, Micro saving has improved on yearly and quarterly basis, reaching stable 3% growth quarterly and 5% year-on-year basis. Up to December 2025 is a 1.8% year-on-year. All right. Sorry, let me continue. Moreover, new booking continue to post improvement in vintage 2025 disbursement recorded average six MOB downgrade to SML is of 3.4%. This is Kupedes disperse in January 2026, recorded five-month MOB downgrade to SML is less than 1%. So, if you see the Kupedes 2023 and 2024 batch gradually soft in line with our guidance and vintage also, so good trajectory. This is several factors for us to determine resume growth on our micro loan, particular Kupedes. This improvement that we have been doing in micro also, so a good result on business process from the probability metric of mantri as of June, more than 70% of mantri categorized under quadrant one and quadrant two. So the quadrant one and two, which is the profitable quadrant. Let me give you the background. While we do the transformation agenda, the BRIvolution Reignite, basically we are focused, number one is where we would like to revamp the Micro business within BRI. We already revamp the business process, not only the business process, but also in term of the pipeline management and also the decision engine, including also the loan factory also we improve. That give us positive feedback during the few quarters, last quarters, and also this quarter as well. In terms of the credit quality, I think, Ibu Ety, you can give the flavor to Pak Joshua. The way we manage the quality, we start from how we pick the good customers from the pipeline management and also the pipeline from the regional branches as well. This gives us the opportunity to get a good business today and in the future. Please, Ibu Ety. Yeah, sure, Pak Hery. Pak Joshua, I will add about our strategy in why we can have confidence in growing the Micro segment. For this year, in the first half, we have relied on the KUR and TPPP, the new program from the government to grow the micro lending with low interest rate. We actually are also quite confident in the loan quality. In the second semester, probably we have to rely 50/50 to Kupedes as well. The way we have improved the underwriting standard in the micro is in the front, mid, and back. Everything we also evaluate. In the front side, the pre-screening pipeline as a source of growth is already there. We already have different swim lane to identify which customer to be approved. Based on our data, we now can differentiate. In terms of the growth from new to bank, if you look at year to date, because we just identified since January, it's roughly 15%. We rely most of them is coming from existing to loan, roughly 50%, and roughly 35% is actually new to loan. These are the micro borrowers that previously only used saving account, but not yet becoming our borrower. Because we already incorporate in our new credit risk model, the saving account deposit risk model as well as transaction risk model, then we can identify which of the potential borrower coming from the micro depositor. For the RAC as well, we also already have more granular RAC per sector by region with limits that's more reasonable, such as net profit margin limit for the borrower, for system sector, cost of goods sold, and the cost structure as well. Development of the OCR or automation to read the data from identification or for their license as well already features in BRISPOT. We already pilot in the second quarter this year, and we plan to implement for this third quarter as well. So we're more confident that it will lower the operational risk side as well for the micro lending. We also have a certain limit, like maximum top-up or minimum top-up maturity. In the midsize, we also have better incentive program. We look at booking as well as six-month on book or vintage quality to our mantri to decide the KPI achievement as well as remuneration structure. We also have evaluation of approval for the BRI unit and also micro banking managers starting early this year as well. We also have regular RTTA forum, risk threshold, trigger, and action. We going into each of the region that has specific problem for their loan quality and try to find out the root cause as well as adjust the policy accordingly and only for local implementation. Also, we have a parameterized pre-screening scoring and pre-screening inside the BRISPOT as well. The BRISPOT is now also accommodate the risk management side. In the back side, the workload of mantri also a little bit reduced because of the field collection officer that handles the off-balance sheet NPL or written-off loan. Previously with the similar ratio of borrower to mantri, they also still handle the written-off loan, but now they do not handle that anymore. That is why some of the workload also can be allocated to have more rigorous analysis. Maybe that is from the front, mid, and back improvement in underwriting that I can share with you, Pak Joshua. Thank you. Okay. Thank you, Ibu Ety. I think, Pak Royadi, you can respond in term of the part of the questions is current macroeconomic pressures. Talk about IDR inflation risk, et cetera. Please, Pak. Thank you, Pak. Let me add about the macro condition like Pak Joshua mentioned also. I think, yes, the macro condition still is quite challenging, but at least in the second half, we see two positive side. First, second half, government spending will be more accelerate compared in the first half, government spending only 40% of the total budget. It means 60% of total budget will be done in the second half. It means that it will give some positive factor in term of the growth. And currently, government focus also focus in the low end economy. I think it is in good side. The second is related with the BI policy and liquidity. Currently, with the new governance of BI to maintain the IDR, they still not only rely on the interest rate, but also other tools like, for example BI lowered the SRBI rate quite significantly from 7.7% to become 7%. I think it is good for our liquidity and also our Cost of Funds to support the micro growth. The second, BI also released new regulation related with the reserve requirement. Based on this new regulation, we expect BRI will have another IDR 10 trillion to IDR 15 trillion released in liquidity, because we meet the new criteria. It is also support the liquidity, and then we can support growth especially in the micro. I think that is two factors that give some positive impact to our microeconomic environment, especially in the second half. Thank you, Pak. All right. Pak Royadi, thank you very much for the respond, for the answer. Give back to Siaga. Maybe there are other questions coming. Thank you, Pak. There is the next question from Jayden, Macquarie. How much of the corporate loan growth is to SOEs versus private sector customers? How much deposits has BRI generated incrementally from new corporate clients relative to outstanding loans? Same question regarding the Agrinas's loan. What is the outstanding amount, risk weight, and the provisions? The third one is can you please clarify what range of dividend payout ratio will apply this year, and what is the sustainable level is medium term? I think Pak Hery, please assign. All right. Thank you, Jayden, for the questions. I think Pak Riko, the corporate banking directors, will respond the question number one, number two. Maybe the number three will take by Pak Royadi because this is the dividend payout ratio is the job of the CFO to answer. Please, Pak. Yeah. Thank you so much, Pak Hery, and thank you, Jayden, for the questions. We have been focusing in rebalancing the portfolio from the SOE and also the non-SOE in our portfolio in wholesale in corporate banking. It used to be more than about 60% of the portfolio, but currently is less than 50%. In the second quarter 2026, we disbursed about IDR 52.4 trillion to SOE, which is majority the lending is for Pertamina Patra Niaga, and it is a short-term kind of lending amounting about IDR 22.8 trillion in this quarter. Beside the SOE, we also provide loan to our subsidiaries to help them in operational side, such as to BRI Multifinance Indonesia, Pegadaian, and PNM. There is amounting about IDR 6.8 trillion of the portfolio. This loan was primarily to support on their liquidity to channel their loans products to our target markets. Excluding our subsidiaries, our 2026 SOE disbursement will be composing about 50% of the expansions. But overall portfolio is already less than 50%. So the strategy works in rebalancing the portfolio. The rest of the 45% of the non-SOEs disbursements reflected a very selected risk acceptance and economy value creations, primarily within the manufacturing side and also in the energy sectors. In this selection of the portfolio, we also put a lot of attention in terms of how the portfolio is supporting the ecosystem of the supply chains. In terms of the corporate deposits, the strong growth in corporate loan is also followed by the positive growth in terms of the wholesale transactions. So we have been very focused in supporting the transaction banking, especially in the cash management side. In our platform, Qlola, we have posted a very strong transaction growth of 59.5% year-on-year, which is reaching above IDR 558.4 trillion in first half of 2026. The composition of a corporate deposits is about 38% of figures, slightly flattish compared to last year, about 37.5%, because there's some outliers transaction last year. But if you look at the overall loan versus the CASA or loan versus the operating account within the wholesale banking transaction, the ratio is 50%. Which is very positive in terms of mix between the loan and the general. Cost of fund of the Corporate also recorded stable, around slightly above the 3% and general lower, but historical cost of funds is lower than last year's. So that's the answer for the probably point one. In the second one, the Agrinas side, the outstanding today, as we communicated before, is still the same, is IDR 55 trillion with around a 1.29% coverage and 50% risk-weighted. This is probably something that Ibu Ety will discuss a bit more. But, as we communicated before, this Agrinas, the plan is continue the same. They will have repayments based in September. And right now, very close coordination between Danantara, Himbara, and also Maybank Indonesia Finance in terms of the execution of the plan of the payments. So maybe with that, Ibu Ety, we give little bit color on the risk side. Thank you. Thank you, Pak Riko. So for Agrinas, Pak Riko mentioned earlier the exposure is IDR 55 trillion. The coverage in the first quarter, it was like 0.8%. But as I mentioned earlier, we have some remodel due to audit in June, and we increase the coverage to 1.3%, so around IDR 730 billion. In terms of risk-weighted asset, we use 50%, similar to other PSO. So SOE like Pertamina, Perusahaan Listrik Negara, the public service obligation, we use that as a benchmark. And as Pak Riko mentioned earlier, that we still in our scenario is by end of September, it will be paid off the first installment, which is IDR 9 trillion for principal and around IDR 2 trillion for interest. But as a risk manager, what if scenario we still do the stress test as well. If they fail to pay and it goes to SML, what is the impact to CoC and the CAR? The CoC will be increasing roughly like IDR 10 trillion or roughly like 70 basis points to BRI only, and then CAR will be lower, around 100 basis points or 1% due to increasing risk-weighted asset from 50% to 80%. Hopefully, that is answered, Jayden. Thank you. Let me continue with the question related with the dividend payment. Like we discussed earlier, for the last four, five years, our dividend payout, it is abnormally high. Again, it is related with after we doing a right issue in 2021, our CAR is higher. Since 2021 until 2025, our dividend payout is ranging between 85%-92%. Going forward, we would like to normalize our dividend payout. With the assumption that our ROE is around 18%-20% and our sustainable growth rate is 8%-10%, actually, our normalized or sustained dividend payout is around 50%-60%, but we will do gradually. For the next three, four years, maybe it will be reaching to 50%, 60%. But until now, until before we reaching this normalized dividend payout, it will be gradually decline from 92% last year. This year, we expect around 70%, and then keep coming down normalized to 50%, 60%. But it is still subject to approval our Danantara related with that. I think in general, this is related our dividend payout in the next two, three year. Thank you. Thank you, Pak Royadi. I think the last question wrap up the Q&A sessions, and after if there is any follow-up question, you can come to investor relation from the call after this earnings call. I think I will hand it over to Pak Hery, our Group CEO, for his closing remarks. Please, Pak. All right. Thank you very much. Thank you very much, everyone. Before we close the call today, the analyst meeting today, I would like to conclude with the key messages from our first half 2026 performance. Basically, our transformation, we call BRIvolution Reignite, is translating transformation into the tangible result and reinforcing BRI resilience. Our core, which is the micro business, is getting healthier. So better risk selection, stronger credit process, and also improved field productivity are driving consistent asset quality improvement, while macro is beginning to regain growth momentum slowly but sure. Our funding franchise is becoming stronger and more efficient. CASA-led growth supported by digital channel and also transaction banking in deepening customer relationship and reducing reliance on aggressive deposit pricing. We basically quite aggressive to reduce the special rate for time deposit. The next one is our growth and earning are becoming more diversified. Corporate banking, commercial, consumer, gold, and transaction banking are complementing our micro franchise, while resilient margin and strong capital continue to protect profitability. As I mentioned during the couple quarter to the audience, the analysts, basically, we are not only strengthening the micro, but also we would like to gaining the new business from the second new core, we call it the second core, which is the consumer banking, including the mortgages, multipurpose loan, and also the gold businesses. And now we have the new kid on the block coming is the multi-finance and also the auto loan as well. These improvements are already visible with the net profit growing 17.5% year-on-year. I think it's quite high during the circumstance. We see the global economic going forward, and also numbers IDR 31.2 trillion is big numbers. Going forward, we will stay the course, strengthening our core, deepening our funding franchise, and also diversifying growth to build stronger and more resilient BRI. Again, thank you very much for joining us. Hopefully, we will meet you the next three quarters result. Thank you very much. Have a good day.