BRIS is prepared to become BTN syariah shareholder

Banking - BSI is prepared to become BTN syariah shareholder The Ministry of State-Owned Enterprises confirm that Bank Syariah Indonesia (BRIS) will become as the shareholder of BTN Syariah. This will be done after BBTN’s syariah business unit spin off from its holding. Yet, it still being discussed whether BRIS will act as the main shareholder or not. (Source : Kontan). Comment : We think the corporate action will add more catalyst to BRIS. On the other hand, the execution of corporate action such as asset transfer (syariah business unit BBTN asset will be transfer to BRIS) and other implementation is still being discussed. We might see BRIS huge basis customer and syariah market share will increase significantly and thus will spur its earnings growth going forward.