PT Bank Syariah Indonesia Tbk (IDX: BRIS) targeting the financing is projected to grow around 8 percent in this year, said the CEO as quoted by local media. The new Islamic bank holding also sees the net profit grow double digit in 2021 from a year ago Rp2.2 trillion - Photo: Special

JAKARTA (TheInsiderStories) – State lender, PT Bank Syariah Indonesia Tbk (IDX: BRIS) targeting the financing is projected to grow around 8 percent in this year, said the CEO as quoted by local media. The new Islamic bank holding also sees the net profit grow double digit in 2021 from a year ago Rp2.2 trillion (US$151.72 million).

The CEO, Hery Gunardi, said on Monday (04/05), the targets depend on the vaccination program and other government policies. To support the targets, he continued, the bank plans to integrate PT BNI Syariah, PT BRI Syariah systems and services into the PT Bank Mandiri Syariah, which is used as the issuer’ core business of the financial company.

He hope that this integration will be completed by the end of October 2021 and at the end to have 1,365 branches throughout Indonesia and the number of customers ranging from 14.5 million to 15.5 million accounts. Bank Syariah Indonesia also relies on digital services such as prayer times, Qibla, zakat, alms and waqf.

The lender targeting to distributes loan financing for micro, small, and medium enterprises (MSMEs) around Rp53.83 trillion. Beside MSMEs, the sharia bank also targets sharia bond market, both domestic and in the Middle East.

Early 2021, state own enterprise ministry has officially merge the sharia banks. After merged, Bank Syariah Indonesia have a total assets of Rp214.6 trillion with a core capital more than Rp20.4 trillion an entered the top 10 largest Islamic banks in Indonesia in terms of assets.

The merger firm, said Gunardi, will focus on the wholesale banking business in Islamic finance, included tapping into the potential of global SUKUK market in the Middle East. After merger, the company will have a branch or representation office in Dubai, Uni Emirates Arab in 2021.

Bank Syariah Indonesia will remain in the status of a public company and be listed on the Indonesia Stock Exchange. The shareholders of the issuer are PT Bank Mandiri Tbk (IDX: BMRI) by 51.2 percent, PT Bank Negara Indonesia Tbk (IDX: BBNI) 25.0 percent, PT Bank Rakyat Indonesia Tbk (IDX: BBRI) 17.4 percent, BRI Syariah pension fund 2 percent, and public 4.4 percent.

Before set up the new holding of sharia bank, state own enterprises minister, Erick Thohir has aborted the formation of state-bank holding and chooses to sharpen the focus of each lender. He accused, wether to set up a holding company, he refer to focus the bank’ businesses.

US$1: Rp14,500

Written by Editorial Staff, Email: theinsiderstories@gmail.com