Amid Economic Pressure, BJB Syariah Earns IDR 42.08 Billion Net Profit

JAKARTA - PT Bank Jabar Banten Syariah (BJB Syariah) showed positive performance during the third quarter of 2023. BJB Syariah Earns a net profit of IDR 42.08 billion.

This positive performance is amidst various economic pressures, ranging from rising interest rates to external factors such as the lack of a global economic recovery.

President Director of Bank BJB Syariah Adang A Kunandar said that his party continues to strive to improve solid performance in all its business portfolios, as well as maintain sustainable business growth to all stakeholders.

"We are grateful that we are still able to grow in the midst of domestic and global economic challenges. This is thanks to the hard work of all parties," said Adang quoting Antara.

Based on the latest financial reports, Bank BJB Syariah managed to raise third party funds (DPK) of IDR 8.99 trillion in the third quarter of 2023, an increase of 5.73 percent (year on year/yoy). The total assets of Bank BJB Syariah as of the third quarter of 2023 were recorded at IDR 12.33 trillion, an increase of 10.6 percent compared to the same period last year (yoy).

Adang explained that as of September 2023, Bank BJB Syariah managed to distribute financing of Rp8.36 trillion or grew 14.67 percent (yoy) compared to the same period last year. The growth in financing was supported by consumer financing of 65 percent, then the non-MSME segment was productive with a proportion of 21 percent while MSMEs were 14 percent.

Adang said Bank BJB Syariah remains optimistic that it can finish the rest of the last few months of this year so that it can close its performance in 2023 better than last year.

"This is also supported by domestic economic conditions that continue to improve and the government's support for the Islamic economy continues to grow," he said.

One of the keys implemented by Bank BJB Syariah is to build a strong partnership with all stakeholders, starting from shareholders, third parties, and with priority customers.

On the service side, he continued, Bank BJB Syariah also continues to strengthen and develop information technology-based products. The Mobile Maslahah (mobile banking) application developed by Bank BJB Syariah has been able to serve various customer needs ranging from opening new accounts online (Digital on Boarding), opening Hajj savings and registering for Hajj, to various other digital payments.

Adang said that in the future Bank BJB Syariah will focus on building synergies and collaborations with several digital-based ecosystems and communities. So it is hoped that it will make it easier for all customers to meet all their daily needs.