en.bisnis.com - JAKARTA: PT Bank Rakyat Indonesia Syariah, BRI's subsidiary, has changed a target of additional branches in this year to 70 new branch offices from the initial target to 150 offices.
BRI Syariah Director of Business Development Ari Purwandono said the measure is aimed to cut the expansion cost. (source)
Later, the 70 branches will be opened gradually before the end of first half of 2012 spreading in several supporting cities of Indonesia. “Meanwhile, the remaining will be reviewed in mid of this year,” he said.
The bank has disbursed another investment commitment by IDR1 billion-IDR1.5 billion leading to IDR70 billion-IDR10 billion totally for the networking expansion this year.
The new outlets will be focused on micro-financing development that may grow by 66.67% to IDR2 trillion from IDR1.2 trillion as of the end of 2011.
The sharia bank founded in 2009 has also set higher financing by 53.84% to IDR14 trillion from IDR9.1 trillion with largest portion on consumer and commercial segment.
Sharia service
Meanwhile, the bank will also open sharia-service office (KLS) in 76 channeling offices of BRI and in a number of supporting cities in Indonesia as well.
KLS will be driven specifically to compile third-parties fund (DPK), not to disburse financing. This year, DPK is projected to grow to IDR15 trillion from IDR9.3 trillion in the end of 2011.
“We will elevate the portion of cheap fund to 25% this year from 22% in the end of 2011, while the remaining portion will be for bank deposit having more expensive cost structure.”
In fact, BRI Syariah becomes Indonesia’s third largest sharia bank following PT Bank Syariah Mandiri and PT bank Muamalat Indonesia Tbk.
The bank is a goal on conversion of PT Bank Jasa Arta and on segregation of sharia business unit of PT Bank Rakyat Indonesia Tbk. (t01/msw)
Source: http://en.bisnis.com/articles/bri-syariah-cuts-more-than-a-half-of-target-of-new-branches - Feb 2, 2012
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