Bullion Bank Drives Gold Business as BSI and Pegadaian Expand Rapidly

Jakarta (ANTARA) – Coordinating Minister for Economic Affairs Airlangga Hartarto outlined how the emergence of bullion banks could spur growth in gold investment in Indonesia. At present, PT Pegadaian and PT Bank Syariah Indonesia Tbk (BSI) have collaborated to develop bullion banking services. ‘Thus, this is proven by BSI and PT Pegadaian. Pegadaian, with a bit of flexing, has already posted a Return on Assets of 6.7 percent, and gold savings have risen from 10.5 to 19.25, with 141.7 tonnes of gold under management,’ he said at the Launch of the Indonesia Bullion Ecosystem Roadmap in Jakarta, on Friday (6 March 2026).

Furthermore, growth in gold-savings customers at BSI has reached 766 thousand, with around 22.5 tonnes of gold under management. ‘Thus, both institutions are expanding strongly due to their gold portfolios. We always recognise that gold is a safe-haven investment, especially to navigate uncertainty,’ Hartarto added.

‘During the same event, BSI’s Chief Executive Anggoro Eko Cahyo said the gold business represents a new growth area. ’If compared with Pegadaian, it may not be as large. But for us, it is very significant because we are just starting,’ he said.

‘In just the first two months of 2026, BSI’s gold transactions reached 2.7 tonnes. According to Anggoro, trading in this gold could double. ’And here we see how society, with the bullion licence, it becomes easier for us to own gold,’ he explained. ‘Where Pegadaian has Tring, we have BYOND; because the app already existed earlier, we are encouraging the public to start from small sizes, either in instalments or buy in one go,’ he added.

‘Pegadaian’s Chief Executive Damar Latri Setiawan noted significant growth thanks to bullion bank. He hopes the development of bullion banks in Indonesia can strengthen the national gold trading ecosystem. It could even encourage people to use gold more as an investment instrument. Through Pegadaian’s app, Tring, people can start saving gold from as little as Rp10,000.’

‘With bullion banks, we see huge potential to reinforce the national gold ecosystem and simultaneously raise public literacy on saving gold,’ asserted Damar.

The event was also sponsored by PT Pegadaian, Bank BSI, HRTA Gold, the Indonesian Jewellery Producers Association (APPI), and Galeri 24 Pegadaian.