JAKARTA – PT Bank BTPN Syariah Tbk (BTPS) posted a 1.85% year-on-year (yoy) decrease in net profit for 2024, reaching only IDR 1.06 trillion.

According to the FY 2024 Financial Report released today (17/2), BTPS reported total revenue of IDR 5.40 trillion by the end of December, a 6.05% decrease from IDR 5.75 trillion in 2023.

Revenue from margin-based murabahah transactions totaled IDR 4.81 trillion in 2024, a decline of 9.07% yoy from the previous year's figure of IDR 5.29 trillion.

However, revenue from musyarakah financing profit-sharing grew nearly threefold, increasing by 2,597.5% yoy to IDR 13.33 billion, compared to IDR 4.72 billion in the previous year.

Additionally, other main operational income rose to IDR 568.56 billion from IDR 441.85 billion.

On the expense side, operational costs decreased by approximately 9% yoy, from IDR 3.94 trillion to IDR 3.59 trillion, which helped alleviate pressure on net operating income. As a result, net operating income only dropped 2.2% yoy in 2024, from IDR 1.38 trillion to IDR 1.35 trillion.

On the bottom line, net profit slipped by 1.85% yoy, from IDR 1.08 trillion to IDR 1.06 trillion.

In terms of financial position, Bank BTPN Syariah recorded a slight increase to IDR 21.74 trillion, up from IDR 21.43 trillion at the end of 2023. (EF/ZH)