JAKARTA - PT Bank Syariah Indonesia Tbk (BRIS), sharia bank with the highest market capitalisation in Indonesia, recorded financing distribution of IDR 240.32 trillion throughout 2023, increasing 15.7% year-on-year (yoy) from IDR 207.7 trillion.

This financing distribution surge made BRIS possible to score revenue growth of 13.13% yoy to IDR 23.15 trillion from IDR 20.47 trillion in 2022.

Meanwhile, the decreased operational costs, from IDR 10.79 trillion in 2022 to IDR 9.57 trillion last year, allowed the company to report a skyrocketing net profit of 33.88% yoy to IDR 5.7 trillion.

The thriving financial performance was accompanied with solid financial position, including assets that grew 15.67% yoy to IDR 353.62 trillion. BRIS’s third-party funds were recorded increasing 12.35% yoy to IDR 293.78 trillion.

Thankfully, the expansive credit distribution of BRIS went hand-in-hand with increase non-performing financing (NPF) ratio. Gross NPF ratio in 2023 declined to 2.08%, while net NPF only reached 0.55%.

As of now, BRIS is still listed as a subsidiary of PT Bank Mandiri (Persero) Tbk (BMRI) with ownership portion of 51.47%. According to the Financial Report published in the mass media yesterday (1/2), BRIS was recorded contributing approximately 17.5% to total gross consolidated revenue BMRI of IDR 132.54 trillion. (ZH)