BSI Financing Grows 15.46 Percent Since Merger

JAKARTA - PT Bank Syariah Indonesia Tbk (BSI) recorded financing growth of 15.46 percent in a compounded annual growth rate (CAGR) from the beginning of the merger until December 2024.

Most of the financing was distributed to the Retail and MSME segments as well as the Consumer segment which compositioned around 72 percent

Acting President Director of BSI Bob T Ananta revealed that the merger initiated by the government and carried out on February 1, 2021, has proven to have an impact on accelerating the Company's growth.

"The BSI asset grew aggressively, where in four years it grew to 14.28 percent (CAGR) originally Rp239.58 trillion at the end of 2020 to Rp408.61 trillion at the end of 2024. The total assets boosted BSI to sixth place," he said, Thursday, May 15.

Asset growth, said Bob, was supported by the number of networks and Third Party Funds (DPK) where the total merger of BSI branch offices reached 1,039 outlets so that with new branding, BSI branches were more visible. The number of customers has also reached above 21 million compared to around 14 million when the merger occurred.

Meanwhile, the total Third Party Funds as of December 2024 reached IDR 327.45 trillion before the merger. BSI also consistently grew the composition of low-cost funds (CASA) by 12.20 percent (CAGR) from the beginning of the merger until December 2024. The consistency of focus on low-cost funds and continues to optimize cost efficiency to make BSI also succeeded in maintaining double-digit profit growth until December 2024.

As of December 2024, BSI's profit grew 33.77 percent on a CAGR basis, originally IDR 2.19 trillion at the end of 2020 to IDR 7.01 trillion. The impact of profit growth was an impressive increase in Return on Equity (ROE). In December 2020 ROE BSI was 11.18 percent and rose to 17.77 percent in December 2024.

With a solid performance, investor confidence in BSI's performance has also grown, where currently the company's shareholder investors with the ticker code BRIS have been filled by global investors.

PT Bank Syariah Indonesia Tbk will hold its Annual GMS on May 16, 2025. Bob stated that BSI management will consistently continue the transformation that was set previously. One of the agenda items at the AGMS is approval of the Company's Annual Report in 2024.

"We will certainly continue to maintain this positive performance in the future," said Bob.