BSI Records Revenue From Fee Based Innon Reaching IDR 4.99 Trillion As Of November 2024

PT Bank Syariah Indonesia Tbk (BSI) recorded revenue based on fee (FBI) as of November 2024 reaching IDR 4.99 trillion or growing 34 percent year on year (yoy) compared to November 2023 position of IDR 3.73 trillion.

The BSI based ratio fee as of November 2024 also rose to the level of 18.04 percent compared to 15.64 percent per position in November 2023. At the beginning of the merger in 2021, the BSI fee based ratio was around 14.76 percent.

"The potential for BSI's FBI growth is still large, at large bank fee-based ratios it can reach above 20 percent," said BSI Finance and Strategy Director Ade Cahyo Nugroho in Jakarta, quoted by Antara, Wednesday, January 8.

Ade said that currently BSI is focusing on growing gold-based products, including pawn financing, gold installments and gold savings and Hajj savings.

The based fee of pawn products and gold installments is still in the highest position with a total of IDR 834 billion with a growth of 24 percent year on year and is in second place after the fee-based of treasury and financial international activities with a total fee-based of IDR 809 billion with a growth of 127.5 percent year on year.

The growth of fee-based from the digital side also includes recording high growth reaching 25 percent year on year with a total of Rp659 billion.

Furthermore, Ade said that BSI would still increase fee-based by continuing the transformation and focusing on holding ratio products through champion products.

"We hope that with the new super app BY BYOND by BSI and other strategies, we can grow the company's revenue which in turn can meet the company's bottom line or net profit," he said.

Currently, BSI continues to socialize the new super app BY BYOND by BSI to the public by offering UI/UX as well as superior security because it is based on the latest technology.

As of December 2024, the number of downloaders for the BYOND by BSI application has reached above 2 million with the number of BSI customers above 20 million.

"We believe that with customers who continue to grow, it has the potential to grow healthy and sustainable performance," he said.