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BRISyariah eyes doubling net profit this year
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Upbeat – State-owned Islamic lender BRISyariah president director Moch. Hadi Santoso (center) explains the bank’s operational performance to colleagues during a press conference following a meeting with investors in Jakarta on Wednesday. (JP/Winny Tang)
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RISyariah, a subsidiary of state-owned lender Bank Rakyat Indonesia, aims to more than double its net profit to Rp 212 billion (US$15.36 million) this year by focusing on financing for micro and small businesses.
"We see that as of June 2016, the bank's net profit stood at Rp 90 billion. We project that net profit will increase to Rp 212 billion,” BRISyariah president director Moch. Hadi Santoso said at a press conference on Wednesday.
As one of the strategies to increase net profit, the sharia-compliant lender would continue to expand its micro-financing business by channeling funds to productive sectors, such as trade and services, he said.
Hadi further said that based on the assumption that Indonesia’s economy would grow by 5.3 percent this year and given that more and more people preferred to use Islamic banking services, BRISyariah’s profit was expected to soar.
“For next year, BRISyariah has forecast net profit will increase to Rp 316 billion,” said the bank’s operational director, Wildan. (win/ebf)
