JAKARTA (TheInsiderStories) - Islamic bank, PT Bank Syariah Indonesia Tbk (IDX: BRIS), targeting the financing growth around 10 percent in this year, said the management in a public expose yesterday. In the first quarter of 2021, the merged bank has distributed total financing of Rp159 trillion (US$11.04 billion), up 14.74 percent from the same period of 2020 amounted to Rp138.6 trillion.
The largest financing was contributed by the consumer segment of Rp71.6 trillion (45.0 percent of total financing), the corporate segment Rp37.3 trillion (23.5 percent), the small and medium segment Rp20.8 trillion (13.1 percent), micro Rp15.0 trillion (9.4 percent), and commercial Rp9.6 trillion (6.1 percent).
In the same quarter, Bank Syariah Indonesia pocketed a net profit of Rp742 billion, growing 12.8 percent on an annual basis. President director of the state lender, Hery Gunardi said, the support for financing growth in the second quarter will be in the retail and small and medium enterpises segments.
The new sharia bank holding also sees the net profit grow double digit in 2021 from a year ago Rp2.2 trillion. The targets, he adds, 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: Rp14,400
Written by Editorial Staff, Email: [email protected]
