Blocking FPI Account, It Turns Out That BSM's Profit From Last Year Reached Rp1 Trillion During The Pandemic Period

JAKARTA - PT Bank Syariah Mandiri (BSM) confirmed the news that it had frozen one of the accounts affiliated with the Islamic Defenders Front (FPI). Through the BSM Corporate Secretary Ivan Ally, a subsidiary of Bank Mandiri, stated that the steps taken by the company were measurable actions in accordance with applicable regulations.

"Bank Syariah Mandiri stated that it always obeys and complies with the laws and regulations in force in Indonesia in carrying out all banking operations, including the temporary suspension of customer accounts," he said on January 11, as quoted by Bisnis.com.

Although he did not clearly state who the owner of the account in question was, it was widely heard that the name of the owner of the deposited funds was one of the daughters of Rizieq Shihab, the leader of the FPI.

Then what about BSM's performance over the past year?

Quoting the company's latest financial report for the third quarter of 2020 on the official website, it was stated that Bank Syariah Mandiri managed to collect a net profit of not less than IDR 1.07 trillion. This figure is up 22.6 percent compared to the same period the previous year.

Meanwhile, BSM support contributed most by the increase in fee-based income, especially from digital services, gold-based products and consumer financing margin income.

From the collection of third party funds (DPK), it was stated that there was an increase in the value of deposits with savings being the main supporter of Rp.44.7 trillion or an increase of 19.2 percent year-on-year. This high savings rate contributed 59.2 percent of all low-cost funds owned by the company (savings, current accounts and time deposits).

The soaring DPK made BSM assets recorded at Rp. 119.43 trillion or an increase of 16.1 percent.

Then for the banking intermediation sector, BSM financing is said to have touched a value of Rp. 79.2 trillion or grew 7.3 percent compared to the third quarter of 2019.

The increase in the amount of financing was followed by the company's ability to maintain the quality of distribution of funds with a net NPF (non-performing financing / NPF) ratio of 0.6 percent in September 2020 compared to September 2019 which was 1.6 percent

The Financial Services Authority (OJK) itself provides a benchmark for the distribution of healthy category financing and credit not to exceed the 4 percent requirement.