BSI's Net Profit Increased by Rp1 Trillion per Year until 2022

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Adi Ahdiat 30/03/2023 19:41 WIB

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During the 2020-2022 period, Bank Syariah Indonesia (BSI)'s profit consistently increased by approximately Rp1 trillion per year.

Net Profit of Bank Syariah Indonesia (BSI) (2020-2022)

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BSI's Net Profit Increased by Rp1 Trillion per Year until 2022

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Net Profit of Bank Syariah Indonesia (BSI) (2020-2022)

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Bank Syariah Indonesia (BSI) reported a net profit of Rp4.26 trillion in 2022. This achievement represents a 40.68% increase year-on-year (yoy) and is the highest ever since its inception.

BSI's official name came into existence on February 1, 2021. However, the bank is not entirely a newcomer to the Indonesian banking world.

Previously, the bank was known as Bank BRI Syariah, a state-owned enterprise (SOE). Its name changed to BSI after merging with other subsidiaries of state-owned banks, namely Bank Syariah Mandiri and Bank BNI Syariah, in 2021.

From 2020 to 2022, BSI's (formerly BRI Syariah) profit consistently grew by approximately Rp1 trillion per year, as shown in the graph.

By the end of 2022, the total assets of the issuer with the code BRIS grew by 15% (yoy) to Rp306 trillion.

Furthermore, BSI's third-party funds (DPK) increased by 12% (yoy) to Rp261.49 trillion, and its total financing grew by 21% (yoy) to Rp208 trillion.

At the end of 2022, BSI's gross non-performing financing (NPF) ratio stood at 2.42%, down from 2.93% the previous year. In the same period, its net NPF also decreased from 0.87% to 0.57%.

"With this achievement, BSI has risen one rank to become the sixth largest bank in Indonesia," said Minister of SOEs Erick Thohir in a press release (February 21, 2023).

This year, BSI is also included in the LQ45 index for the February-July 2023 period. The LQ45 is an index comprising 45 issuers selected by the Indonesia Stock Exchange (IDX) based on specific criteria, such as having the largest market capitalization and highest liquidity.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."