BSI Becomes The 6th Largest Bank In Indonesia, Minister Of SOEs: Transformation Results

Photo: Doc. Antara

JAKARTA - PT Bank Syariah Indonesia Tbk (BSI) managed to record good performance in 2022. The bank, which was inaugurated by President Joko Widodo (Jokowi), managed to accelerate to become the 6th largest bank in Indonesia by passing CIMB Niaga.

Minister of State-Owned Enterprises (BUMN) Erick Thohir said BSI's net profit was recorded at IDR 4.26 trillion or grew 40.68 percent year on year (yoy) at the end of 2022.

"BSI growth is the fruit of hard work from the company's transformation which has a major impact on the aspect of efficiency," he said in an official statement, Tuesday, February 21.

Erick said, the merger or merger of Syarian Himbara banks into BSI which was carried out two years ago yielded positive results.

As of the fourth quarter of 2022, said Erick, BSI's total assets grew 15 percent to Rp306 trillion. Even with third party funds (DPK) which rose 12 percent (yoy) to Rp261.49 trillion. Meanwhile, BSI's financing grew 21 percent (yoy) to Rp208 trillion.

In terms of asset quality, continued Erick, Gross's ratio of non-performing financing (NPF) moved from 2.93 percent to 2.42 percent as of December 2022.

Along with the decline, NPF Net continued 0.87 percent to 0.57 percent. Meanwhile, the reserves described by NPF Coverage rose from 148.87 percent to 183.12 percent.

"With this achievement, BSI managed to increase one rank to become the sixth largest bank in Indonesia," said Erick.

Erick said he was happy with the increase in BSI's performance and asset growth reaching hundreds of trillions. Through strong banking access, BSI is expected to be able, such as BRI which assists and increases the scale of micro, small and medium enterprises (MSMEs).

Furthermore, Erick hopes that BSI will become a forum and ecosystem for the national halal industry. This is because strengthening access to financing can have a broad impact on the progress of the national halal industry.

"In economic development, financial gains are the most important. Indonesia's big market as a country with the largest Muslim population in the world must make us the world's halal industry players, not just spectators for other countries' halal industries," said Erick.

According to Erick, positive growth not only strengthens BSI as the largest Islamic bank in Indonesia. Erick targets BSI, which currently ranks 14th in the world's Islamic banks, to be included in the top 10 largest Islamic banks in the world by 2025.

"Bismillah, with hard work, collaboration, and consistency in developing the halal industry, BSI can be on par with other major Islamic banks in the world," said Erick.

Meanwhile, BSI President Director Hery Gunardi expressed his gratitude for the very impressive achievement in the second year which was the result of solid work and BSI's strategic response strategy in the midst of various economic challenges throughout 2022.

As a country with the largest Muslim population in Indonesia, said Hery, BSI continues to optimize the potential development of the domestic Islamic Ecosystem, starting from increasing Islamic financial literacy, targeting the Ziswaf ecosystem, mosques, education, health and other manufacturing industries.

"Alhamdulillah, in the second year since the establishment of BSI was able to produce impressive profits. This achievement proves BSI's strategic response to achieving healthy business growth, raising public funds, maintaining sustainable growth which focuses on liquidity aspects, especially low-cost fund growth, and maintaining asset quality," said Hery.