BSI Shareholders Approve Rights Issue
PT Bank Syariah Indonesia (Persero) Tbk (BSI) has secured shareholder approval to carry out a Rights Issue II, formally known as a Capital Increase with Pre-emptive Rights (PMHMETD II). The approval was granted at an extraordinary general meeting of shareholders held on Friday (6 November). At the meeting, shareholders approved the issuance of up to 6.8 billion Series B shares.
BSI President Director Anggoro Eko Cahyo said the rights issue was a strategic move to strengthen the company’s capital structure and increase the proportion of shares held by the public (free float). The two aims are expected to reinforce BSI’s business fundamentals, broaden investor participation and improve the company’s competitiveness in the banking industry and capital market.
Anggoro said a higher free float was a long-awaited development for the market. With the current free float at around 9.9%, increasing public ownership is expected to create wider investment opportunities, including for institutional and global investors, for whom free float is one factor in investment decisions. As well as increasing share-trading liquidity, the move could strengthen BSI’s position in meeting the criteria for inclusion in global stock indices.
“We see an increase in free float as an opportunity to broaden BSI’s investor base and make the company’s shares more attractive in the capital market. With wider public ownership, more domestic and global investors will have the opportunity to participate in BSI’s growth. We hope this rights issue will strengthen investor confidence in Indonesia’s capital market and encourage foreign portfolio inflows,” Anggoro said.
Amid global and domestic economic uncertainty, stronger capital has become increasingly important to the sustainability of banking businesses. A range of economic challenges requires banks to maintain a robust capital structure to safeguard resilience while preserving their capacity to grow.
“Strong capital is the foundation that will enable BSI to face economic challenges and seize future growth opportunities. Through additional capital, we want to ensure BSI has an adequate capital buffer to maintain resilience, expand financing capacity and support sustainable business development. This capital strengthening is also part of BSI’s strategic plan to reach KBMI 4,” he added.
The need to strengthen capital is consistent with BSI’s projected business growth. The company’s capital requirements are forecast to rise from Rp51.07 trillion in 2026 to Rp64.41 trillion in 2027. Meanwhile, its capital adequacy ratio (CAR) is projected to increase from 20.38% to 23.31%. This additional capital capacity is expected to support BSI’s ambition to enter the category of banks by core capital (KBMI) 4. If successful, BSI would be the only sharia bank in Indonesia in the KBMI 4 category, marking a significant milestone in the growth of the business and the development of the national sharia banking industry.
As Indonesia’s largest sharia bank, BSI continues to strengthen the Islamic finance ecosystem, improve service quality and expand financing. With stronger business fundamentals and capital, the company is optimistic it can sustain healthy growth, improve its competitiveness and increase its contribution to the national economy.