BSI Records Net Profit Up 32.41 Percent To IDR 2.82 Trillion In Semester I-2023

BSI (Photo: dock. Antara)

JAKARTA - PT Bank Syariah Indonesia Tbk (BSI) recorded that net profit increased 32.41 percent to Rp2.82 trillion in Semester I 2023 compared to the same period the previous year.

"One of the drivers of this achievement is quality financing growth and third party funds (DPK) that are positive," said BSI President Director Hery Gunardi quoting Antara, Tuesday, September 19.

As of June 2023, BSI has distributed financing of IDR 221.90 trillion or grew 16 percent year on year, which is dominated by the retail segment of IDR 158.38 trillion.

Meanwhile, in terms of raising funds, in the second quarter/2023 BSI recorded a DPK of Rp252.52 trillion, which was dominated by savings products which contributed Rp110.93 trillion. Thus, the portion of BSI's Current Account Saving Account (CASA) continues to improve, which is dominated by low-cost funds of 59.93 percent.

Hery said that the strong implementation of governance, risk, and compliance (GRC) is one of the keys for BSI to be able to maintain positive performance throughout the year 2023.

"We believe that with the strengthening of GRC, BSI can continue to realize sustainable growth. This is because the integrated implementation of GRC can synergize the aspects of governance structure, risk management and compliance, as well as the company's environmental and social environment," he said.

BSI also continues to accelerate, as well as mix and match business according to sharia principles and is sustainable in the development of the halal ecosystem in Indonesia.

BSI's financing performance is also in line with the quality of maintained financing, which is reflected in gross Non-Performing Financing (NPF) of 2.31 percent or an improvement from the previous year's position of 2.78 percent. It also has a good impact on cost of financing (CoC) to 1.55 percent.

BSI's solid performance was also driven by the company's ability to manage well the efficiency ratio and cost ratio that affect the bank's business and operational processes. As of June 2023, the company's BOPO ratio has improved from 74.50 percent to 70.87 percent.

Good efficiency is also supported by digital-based services through BSI Mobile, which reaches 5.39 million registered users with a total transaction of 170.70 million transactions as of June 2023. The number of QRIS merchants currently reaches 188 thousand throughout Indonesia.

Business efficiency also had a positive impact on the company's return of assets (ROA) which was recorded at 2.36 percent and the return of equity (ROE) to 17.27 percent.

"With the composition of balance financial ratios, strong fund positions, and good financing quality, BSI is optimistic that by the end of the year business growth will grow double digits. Likewise in terms of customer growth, we believe that by the end of the year it can reach 20 million customers," he said.