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Syariah Bukopin to open three branches in H1
PT Bank Syariah Bukopin (BSB), a subsidiary of publicly listed Bank Bukopin, is planning to launch three new branches in the first half of this year, as part of its expansion plans
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T Bank Syariah Bukopin (BSB), a subsidiary of publicly listed Bank Bukopin, is planning to launch three new branches in the first half of this year, as part of its expansion plans.
BSB president director Riyanto said in Jakarta on Wednesday that the new branches would be in Pekanbaru (Riau), Palembang (South Sumatra) and Denpasar (Bali).
He said the new branches would support the bank's expansion outside Java. In 2013, the bank opened two branches in Yogyakarta and Semarang, Central Java.
'We chose those three provinces because we see good business opportunities there,' Riyanto said, adding that the new branches would begin operations mid-year.
Bank Syariah Bukopin already has 11 branch offices in 11 cities, including Samarinda, East Kalimantan; Makassar, South Sulawesi; Bukittinggi, West Sumatra, and Medan, North Sumatra.
BSB also planned to add a number of subbranches across the archipelago, Riyanto said, adding that this year, the company would focus on four major cities, namely Bandung, Jakarta, Makassar and Surabaya.
'We will add around 10 subbranch offices this year,' he said.
The bank's plan to add to the number of branch and subbranch offices was part of its strategy to increase net profits this year, he added.
Bank Syariah Bukopin reaped net profits of Rp 19.55 billion (US$1.7 million) last year, up 13.01 percent from Rp 17.3 billion in 2012. The lender expects its net profits to increase by 20 percent to Rp 23.46 billion this year.
'I am optimistic that we can achieve that target this year,' Riyanto said.
BSB business director Harry Harmono Busiri said the bank had set a lending growth target of 28 percent this year to reach Rp 900 billion, from the Rp 700 billion it lent last year.
The bank secured Rp 3.27 trillion in third-party funds in 2013, mostly in the form of savings and deposits, up by 14.78 percent from Rp 2.85 trillion the previous year. This year, BSB expects its third-party funds to rise by 20 percent.
BSB had Rp 4.34 trillion in total assets by the end of last year, a 20 percent increase from Rp 3.62 trillion in 2012, the bank said. (alz)
