REPUBLIKA.CO.ID, 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 registered assets of Rp 360.85 trillion making it the 6th position in Indonesia.

BSI can also maintain the performance of DPK financial ratios, financing, cost burden efficiency and optimization of low-cost funds. This growth is supported by increased fee-based income through various BSI e-channels.

Over the three-year period from 2021-2023, asset performance was also supported by growth in third-party funds (DPK) with 11.86 percent growth. BSI's DPK management continued to increase until in June 2024 it reached Rp 296.70 trillion, up 17.50 percent.

Not only that, Savings Performance rose 16.09 percent to Rp 128.78 trillion where about 39 percent or Rp 49.96 trillion was Wadiah savings where the company did not provide profit sharing so as to maintain the level of cost of funds. BSI's liquidity has also grown as customer growth has reached 20.46 million.

For information, the position at the end of 2020, BSI's assets amounted to IDR 239 trillion. Then by the end of 2023, BSI's assets grew to Rp 353 trillion. This shows that the BSI is able to expand rapidly in order to support the growth of the national economy.

BSI President Director Hery Gunardi said the company is committed to continuing to provide sustainable benefits and support the growth of the national economy, through sustained, healthy and sustained business and financial performance. This solid asset growth is proof that BSI as a sharia bank is able to compete and excel amid increasingly competitive industry dynamics.

“In addition to assets, various key indicators such as DPK, net profit, and CASA BSI ratio are also growing positively and sustainably,” Hery said in a statement, Sunday (29/9/2024).

BSI's success in maintaining and improving this solid, healthy and sustainable performance is by maintaining the performance of DPK financial ratios, Financing, cost efficiency and low cost optimization. Supported by increasing fee-based income through various BSI e-channels.

BSI managed to maintain sound and quality financial and business performance throughout the second quarter of 2024, amid a fairly challenging macroeconomy characterized by the rise of benchmark interest rates such as BI Rate which rose to 6.25 percent at the beginning of the second quarter of 2024 to support the stability of the rupiah exchange rate.

These performance achievements are among others the result of management's consistency in implementing the company's business strategy to focus on sustaining growth in the retail, consumer and MSME segments both in terms of funding and financing. Currently, the composition of low-cost funds stands at 62.05 percent, while the financing composition of 71.73 percent is in the retail and consumer segments including MSMEs. On the other hand, both in terms of overhead costs and credit quality are well maintained.

Furthermore, Hery said that amid tight liquidity following a rise in benchmark interest rates, BSI could still grow its Third Party Fund (DPK) of Rp296.70 trillion, up 17.50 percent. In addition, the performance of Savings rose 16.09 percent to Rp128.78 trillion, where about 39 percent or Rp49.96 trillion was Wadiah savings where the company did not provide profit sharing so as to maintain the level of cost of funds.

BSI's liquidity also grew with the growth of customers, which as of June 2024 had reached 20.46 million. Solid liquidity supports BSI's financing performance which is also growing above the national banking industry average with maintained quality. As of June 2024, BSI financing reached Rp257.39 trillion, growing 15.99 percent yoy with NPF dropping to 1.99 percent (gross) much improved compared to June 2023 at 2.31 percent.

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