BSI Records Asset Growth Reaching IDR 360.85 In The Second Quarter Of 2024

Illustration-(DOC VOI)

JAKARTA - PT Bank Syariah Indonesia Tbk (BSI) recorded asset growth in the last three years reaching 48 percent from 2020 to December 2023. In the second quarter of 2024, BSI managed to carve assets of IDR 360.85 trillion.

President Director of BSI Hery Gunardi said that BSI's success in maintaining and improving solid, healthy and sustainable performance is to maintain the performance of the DPK's financial ratio, financing, cost-load efficiency and optimization of low-cost funds.

"It is supported by increased fee-based income through various BSI e-channels," he said in his statement, Sunday, September 29.

During the three-year period from 2021-2023, the asset performance was also supported by customer trust in BSI in the form of third-party fund management (DPK) with 11.86 percent growth. The management of the BSI DPK continued to increase until June 2024 reached Rp296.70 trillion, up 17.50 percent.

In addition, Savings performance rose 16.09 percent to the level of IDR 128.78 trillion, of which around 39 percent or IDR 49.96 trillion was Wadiah's savings where the company did not provide profit sharing so that it could maintain the cost of fund level.

Hery said that BSI liquidity grew also with the increase in customers reaching 20.46 million.

For information, the position at the end of 2020 was BSI's assets of IDR 239 trillion. Then at the end of 2023, BSI's assets grew to IDR 353 trillion. This shows that BSI is able to develop rapidly to support national economic growth.

Hery said In the banking industry, size does matter because capital and large assets will strengthen intermediation capacity. The company is committed to continuing to provide sustainable benefits and support national economic growth, through business and financial performance that is maintained, healthy and sustainable.

This solid asset growth is proof that BSI as a sharia bank is able to compete and excel in the midst of increasingly competitive industrial dynamics. Apart from assets, various main indicators such as DPK, net profit, and BSI CASA ratio also grow positively and sustainably," said Hery.

Hery conveyed that BSI's success in maintaining and improving solid, healthy and sustainable performance is to maintain the performance of the DPK's financial ratio, financing, cost burden efficiencies and optimizing low-cost funds. Supported by increasing fee-based income through various BSI e-channels.

As for the second quarter of 2024, the composition of low-cost funds reached 62.05 percent, while the financing composition of 71.73 percent was in the retail and consumer segments including MSMEs. On the other hand, both in terms of overhead costs and credit quality, it is well maintained.

Furthermore, Hery said that amid strict liquidity following the increase in the benchmark interest rate, BSI could still grow Third Party Funds (DPK) of IDR 296.70 trillion, up 17.50 percent.

In addition, Savings performance rose 16.09 percent to the level of IDR 128.78 trillion, of which around 39 percent or IDR 49.96 trillion was Wadiah's savings where the company did not provide profit sharing so that it could maintain the cost of fund level.

BSI liquidity is also growing along with the increase in customers, which as of June 2024 has reached 20.46 million. Solidity supports BSI financing performance which also grows above the average of the national banking industry with maintained quality. As of June 2024, BSI financing reached IDR 257.39 trillion, growing 15.99 percent yoy with NPF dropping to the level of 1.99 percent (gross) much better than June 2023 of 2.31 percent.