Growing 31 Percent, BSI Recorded Profit Of IDR 4.20 Trillion

JAKARTA - PT Bank Syariah Indonesia Tbk (BSI) posted a positive performance during the third quarter of 2023 with a profit of IDR 4.20 trillion.

The profit achievement grew by 31.04 percent on an annual basis.

President Director of BSI Hery Gunardi said that the current economic macro conditions and uncertain global situations are a challenge, including for Islamic banking, to continue to grow in a stable and sustainable manner.

However, continued Hery, the Islamic finance sector, especially Islamic banking, has the characteristics and uniqueness of products that are relatively resistant to economic shocks.

"Slowly and surely, the sharia economy is increasingly known to the public, which ultimately has a positive impact on BSI's business. In addition, the Islamic financial literacy and banking that we continue to run to stakeholders to maintain a sustainable business focus," he said in an official statement, Wednesday, November 1.

Hery said one of the pillars of rapid profit growth was the growth in financing volume which was able to encourage profit-sharing margin income to grow 15.74 percent year on year (yoy).

In addition, the composition of third party funds (DPK) is dominated by low-cost funds. As of September 2023, the collection of DPK reached Rp262 trillion.

Of this figure, the composition of cheap funds in the form of savings amounted to Rp115 trillion and a giro of Rp42 trillion.

"BSI continues to encourage the growth of low-cost funds, especially Business Savings which is one of the engines with growth of 134.41 percent and an increasing trend," he said.

As for the financing segment, the distribution of financing grew positively, with healthy and maintained quality. As of September 2023, BSI has channeled financing of IDR 232 trillion, growing 15.94 percent year on year.

Hery said the financing was dominated by the consumer segment amounting to IDR 117.92 trillion, corporations amounting to IDR 54.39 trillion, micro amounting to IDR 21.45 trillion, SME IDR 18.62 trillion and commercial IDR 11.86 trillion.

In addition, BSI is also focused and committed in the distribution of sustainable financing.

Until September 2023, sustainable financing in BSI reached Rp53.6 trillion, which was dominated by the MSME sector by Rp43.4 trillion, followed by agriculture of Rp4.9 trillion, eco-efficient products of Rp3.3 trillion, renewable energy of Rp1.4 trillion and an eco-green project of Rp600 billion.

"The company is committed to distributing healthy and sustainable financing and has good quality," he said.

Hery revealed that several strategies were consistently carried out, including focusing on healthy financing and long-term orientation, accelerating business processes and discipline in monitoring the quality of financing.

Until now, BSI's financing market has grown 3.26 percent compared to the third quarter of 2023 last year.

This is a positive signal in line with the increase in the market share of the Islamic banking industry in Indonesia, which has increased by 7 percent.