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BRIS - Bank BRI Syariah,

BRIS - Criteria for sharia banks that BSI wants to acquire

20 March 2024

BRIS - Criteria for sharia banks that BSI wants to acquire Bank Syariah Indonesia Tbk (BSI) has opened up about its plans to consolidate with other sharia banks through a Joint Business Group (KUB). According to the BRIS’s President and Director, the KUB plan was in accordance with the Financial Services Authority's (OJK) regulations, which encouraged sharia banks to consolidate. BRIS also stated that the sharia banks that will be targeted in the future are banks that focus the business on the retail consumer segment. It is worth noting that previously BSI management had mentioned BCA Syariah and Bank Mega Syariah in the consolidation plan, noting that these banks were also open to being bought by BSI. (Source : Kontan) Comment : We like the BRIS plan to consolidate with other sharia banks. Assuming this strategy will become reality, the bank will not only benefit from the huge untapped potential of the of the syariah market but will also maintain its position as the strongest sharia bank in the landscape competition. We believe its focus on retail consumers as one of the segments with high yield financing will overall help BRIS maintain its NIM expansion going forward.

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