BSI Achieves Rp987 Billion Profit in Q1 2022

PT Bank Syariah Indonesia Tbk (BSI) achieved a profit of Rp987.69 billion in the first quarter of 2022. This represents a 33.18% increase compared to the first quarter of 2021 (year-on-year/YoY).

BSI's profit surged in the first quarter of 2021 compared to the first quarter of 2020, as shown in the graph. This achievement is a result of the merger of three state-owned Islamic bank entities, namely PT Bank BNI Syariah, PT Bank BRI Syariah Tbk, and Bank Syariah Mandiri, into Bank BSI at the beginning of 2021.

BSI's President Director, Heri Gunani, stated that this positive achievement demonstrates Indonesia's recovering economy from the economic crisis caused by the Covid-19 pandemic. This positive performance also proves the increasing literacy and inclusion of Islamic banking in Indonesia, boosting public confidence in BSI.

This positive performance is supported by healthy growth in financing across all segments: consumer, corporate, micro, small, and medium enterprises (MSMEs), gold pawn, financing cards, and the development and innovation of digital services through BSI's e-Channels.

"This proves that people are increasingly interested in experiencing sharia banking services across all segments. This growth also serves as a boost for BSI to expand its market globally, namely in Dubai," said Heri in a press conference releasing BSI's first-quarter performance.

BSI's assets reached Rp271.29 trillion as of March 2022, a 2.21% increase compared to the end of last year's Rp265.29 trillion.

BSI's financing disbursement increased by 11.59% (YoY) to Rp177.51 trillion in the first quarter of 2022. Consumer financing grew by 20.73%, micro financing by 22.42%, and gold pawn financing by 8.96%. Meanwhile, the net non-performing financing (NPF) ratio was only 0.9%.

Stock Performance

The stock price of the issuer with the code BRIS closed at Rp1,580 on Thursday (28/4/2022), a 3.27% increase from the previous day's closing price.

Compared to the end of 2021, BSI's share price fell by 11.24% (year-to-date/YTD). Similarly, compared to April 28, 2021, BSI's share price has decreased by 28.83% (YoY).