Performance Is Getting Better, BSI Is Competing With Big Four The Biggest Bank In Indonesia

The board of directors of PT Bank Syariah Indonesia Tbk. (Photo: Doc. BSI)

JAKARTA PT Bank Syariah Indonesia Tbk. (BSI) continues to make positive performance since the merger in 2021.

BSI Finance and Strategy Director Ade Cahyo Nugroho said the company managed to record various growths, such as the growth of third party funds (DPK) which now occupies the fifth largest in Indonesia.

"Since the initial merger in February 2021 we have made a lot of progress, such as entering the top 10 of the largest banks and our assets number seven now," he said in quoted Wednesday, October 19.

According to Ade, this achievement not only boosted BSI's business scale but also presented several advantages in business operations.

"This is important and helps us cut the cost burden by 50 percent last year," he said.

For this performance, Ade believes that BSI as the largest Islamic bank in Indonesia is able to push to the top of the competition of national banking institutions.

"Now BSI can compete with the top 4 banks (BRI, Mandiri, BCA, BNI) in Indonesia," he said.

Citing the company's official website, the financial services institution codenamed BRIS issuer successfully earned a net profit of IDR 2.1 trillion in the first semester of 2022. This figure shot up 41.3 percent when compared to the same period in 2021 (year on year/yoy).

BRIS's moncer results were supported by the DPK which grew 13 percent to 244.6 trillion and intermediation performance which rose 18.5 trillion to Rp191.2 trillion.

The financing segment spreads to the micro sector each with 31.1 percent growth, consumer financing grew 21.6 percent, wholesale financing grew 20.3 percent, card financing grew 22.8 percent and gold pawns grew 20 percent.

The increase in intermediation was supported by the quality of non-performing financing (NPF) net of 0.74 percent. This result made BRIS' assets inflated to Rp277.3 trillion, an increase of 12.4 percent yoy.