After Management Restructuring, BSI Shares Remain Weak

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Adi Ahdiat 23/05/2023 19:00 WIB

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A day after the announcement of the board of directors reshuffle, BSI's share price closed at Rp1,670 on Tuesday (23/5/2023), weakening by 1.47% compared to Monday (22/5/2023).

BSI Stock Price Movement (May 2-23, 2023)

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BSI Stock Price Movement (May 2-23, 2023)

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Bank Syariah Indonesia (BSI) has reshuffled its board of directors following a ransomware attack that caused its services to be down for several days.

This board reshuffle was decided at BSI's Annual General Meeting of Shareholders (RUPST) held on Monday, May 22, 2023.

The meeting dismissed Achmad Syafii from his position as Director of Information Technology and appointed Saladin D. Effendi as his replacement. BSI's Director of Risk Management, Tiwul Widyastuti, was also dismissed, with Grandhis filling the position.

However, this decision does not appear to have garnered positive sentiment from market players.

The day after the announcement of the board reshuffle, on Tuesday, May 23, 2023, BSI's share price closed at Rp1,670, weakening by 1.47% compared to Monday, May 22, 2023.

This downward trend also occurred the day after BSI announced its dividend distribution plan.

In the RUPST on Monday, May 22, 2023, along with the announcement of the board reshuffle, BSI stated that it would distribute cash dividends of Rp426.02 billion, or 10% of its total net profit for the 2022 fiscal year.

Furthermore, 20% of BSI's net profit for the 2022 fiscal year will be allocated to mandatory reserves, and 70% will be retained earnings.

"In line with shareholder support and the momentum of economic growth, we believe that BSI's performance will continue to improve. Going forward, we will continue to accelerate business and service development to meet the expectations of our customers and all stakeholders," said BSI President Director Hery Gunardi in a press conference on Monday, May 22, 2023.

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."