BSI Records A Net Profit Of IDR 1.71 Trillion In The First Quarter Of 2024

PT Bank Syariah Indonesia Tbk alias BSI (BRIS) recorded a net profit of IDR 1.71 trillion in the first quarter of 2024, amid volatile global economic challenges and conditions.

President Director of BSI Hery Gunardi said that the positive performance was driven by the growth of low-cost funds and consistency of BSI in carrying out the intermediation function.

"Alhamdulillah, in the midst of a global economic condition full of uncertainty, BSI has again proven itself capable of scoring impressive performance," Hery said in his statement, Tuesday, April 30.

Hery said that BSI's positive achievements were driven by the rapidly growing collection of third party funds (DPK), which reached IDR 297 trillion, which was dominated by low-cost funds. Where, savings grew 8.75 percent and demand grew by 10.52 percent.

"This achievement also succeeded in bringing BSI's position to be ranked 5th nationally in terms of Savings collection," he said.

In terms of intermediation, Hery conveyed that the distribution of BSI financing in the first quarter of 2024 reached Rp247 trillion or grew 15.89 percent (yoy).

As for this value, 54.62 percent is distributed to the consumer segment. Then, 27.81 percent is channeled to the wholesale segment and 17.56 percent to the retail segment.

Hery said that in the consumer segment itself, the largest financing was channeled to finance griya, partner use, pension, gold business, auto, gold installments and hasana card.

Meanwhile, for sustainable financing, BSI has distributed IDR 59.2 trillion, which is dominated by the MSME sector of IDR 46.6 trillion, sustainable agriculture IDR 4.9 trillion, renewable energy IDR 0.9 trillion, and other green projects IDR 0.6 trillion.

Hery said the company is committed to continuing to show positive growth with healthy quality.

"In the first quarter of 2024, BSI noted that assets of IDR 358 trillion grew 14.25 percent with Return On Assets (ROA) of 2.51 percent, return on equity (ROE) 18.30 percent, financing to deposit ratio (FDR) of 83.05 percent with non-performing financing (NPF) gross 2.01 percent and cash coverage 196.61," said Hery.

Hery conveyed that along with the consistency and commitment to level up to be beyond sharia banking, BSI continues to encourage the improvement of digital services. This step also aims to facilitate public access to Islamic banking services, both individually, MSME players, and corporate.

This consistency also paid off, where in March 2024, the number of BSI Mobile users jumped 29.35 percent (yoy) to 6.70 million people. BSI mobile recorded a transaction amount of 118.5 million with a transaction volume of IDR 145.1 trillion.

Hery said the number of customers who opened accounts online also reached 93.6 percent of BSI's new customers until March 2024.

In addition, BSI is also aggressive in increasing the QRIS Merchant for payment transactions. As of March 2024, the number of QRIS merchants reached 320 thousand, an increase of 80.84 percent, with the number of transactions reaching 5.85 million worth Rp551 billion.

Hery conveyed that to reach people in areas where there is no bank service as well as a form of microeconomic empowerment, BSI continues to expand the BSI Agent network. As of March 2024, the number of BSI agents reached 91 thousand with a total of 5.7 million transactions and volumes of Rp. 13.2 trillion.

In addition, as the largest Islamic bank in Indonesia, BSI also contributes to carrying out green activities. One of the implementations of this activity is the provision of 50 points of RVM (Reverse Vending Machine) machines throughout Indonesia, which currently have an impact on reducing carbon emissions by 147.9 tons of CO2eq and recycling 27.9 tons of plastic plastic waste," said Hery.