BRIS - Sustainable financing reached 52.6tn

Bank Syariah Indonesia (BRIS) recorded solid sustainable financing growth, whereas in the first half of 2023 has reached IDR52.6 tn or accounted around 23.7% of total financing. According to management, BRIS will continue to implement a green economy and a sustainable economy which is implemented through various socioeconomic programs. Moreover, BRIS also actively intensifying the implementation of sustainable finance by channeling corporate social responsibility (CSR) funds, which carries the 3P concept: people, planet and profit. (Source : Kontan). Comment : Nowadays, sustainable financing trend getting stronger and banks not only continue to comply with the latest regulation but also implemented various program in related with ESG and CSR. Likewise for BRIS and its various program and effort which will creates a better value to its stakeholder, in our view. In all, post recorded solid double digit loan growth in 5M23, we forecast ‘23F total loan could reach 10% yoy on the back of normalized growth effect and yet remain arrives within our ‘23F loan growth forecast at 9%-10% yoy, OJK and BI guidance at 10%-12% yoy.