BSI targets upgrade to KBMI 4 within two to three years

PT Bank Syariah Indonesia (Persero) Tbk (BSI) is targeting an upgrade to the KBMI 4 bank category within the next two to three years, or by 2030 at the latest. “In our plan, we should be able to enter KBMI 4 within two to three years,” said BSI President Director Anggoro Eko Cahyo during a media gathering at BSI’s head office in Jakarta on Wednesday. Anggoro explained that moving up to the KBMI IV category is a necessity for the company. BSI has officially become a state-owned enterprise (persero) and is part of the Association of State-Owned Banks (Himbara), but remains in the KBMI 3 category. Referring to the company’s financial report as of the end of March 2026, BSI’s core capital (Tier 1) was recorded at Rp46.15 trillion, growing 6.24 percent year-on-year (yoy) compared to the same period last year. To upgrade to KBMI 4, core capital above Rp70 trillion is required. With its core capital position as of the end of March 2026, BSI still needs an additional approximately Rp23.85 trillion to meet this requirement. When asked about efforts to achieve this target, Anggoro said the company is still exploring several options. However, he noted that the target can also be pursued through organic growth. Anggoro added that BSI’s target to become a KBMI 4 bank is in line with the company’s ambition to rank among the world’s top five Islamic banks by 2030. Additionally, the company is targeting its public free float to meet the minimum requirement of 15 percent in the near future. According to Anggoro, several options to increase the free float are being discussed with Danantara as the shareholder. Nevertheless, the decision on the chosen scheme rests entirely with the shareholders, and the company will execute that decision. Administratively, BSI has held persero status since 23 January 2026. This change in status is a consequence of the shareholders’ resolution at the Extraordinary General Meeting of Shareholders held on 22 December 2025 regarding amendments to the company’s Articles of Association. The change subsequently received approval from the Ministry of Law on 23 January 2026 and has been disclosed on the IDX website. As of May 2026, BSI posted an unaudited net profit of Rp3.39 trillion, growing 16.73 percent yoy. Total assets reached Rp444 trillion, third-party funds stood at Rp372 trillion, and financing amounted to Rp335 trillion with maintained quality. The Financial Services Authority (OJK) has encouraged banks to strengthen their fundamentals, including upgrading their category. Currently, only four banks have core capital above Rp70 trillion, placing them in KBMI 4: PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Central Asia Tbk, and PT Bank Negara Indonesia (Persero) Tbk.