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Finance Portfolio of Several Islamic Banks Exceed 40% Growth
Wednesday, August 10, 2011 | Admin

JAKARTA (IFT) – Several Islamic banks’ actual growth in finance portfolio in the first semester of 2011 is above 40 percent due to high demand. They estimated that the second semester growth will remain high as the first one.

Iqbal Latanro, President Director of PT Bank Tabungan Negara Tbk (BBTN), said that its Islamic business unit (BTN Syariah) showed a quite high growth in finance portfolio from year to year.

Compound annual growth rate (CAGR) for finance portfolio in 2008-2010 reached 50.85 percent. in January-June 2011, its finance portfolio grew 43.55 percent to Rp 3.46 trillion from Rp 2.41 trillion YOY.

The company's network expansion prompted a rise in finance portfolio. It has opened 33 branch offices as of June 30, 2011.

CAGR for third-party fund in 2008-2010 reached 87.24 percent. In January-June 2011, third-party fund increased 72.33 percent to Rp 2.96 trillion from Rp 1.7 trillion YOY.

A rise in finance portfolio and third-party fund also prompted a growth in its assets to Rp 4.16 trillion as of June 2011 from Rp 2.65 trillion YOY. BTN Syariah estimated that its growth in assets, finance portfolio and third-party fund will be similar to the first semester achievement.

Achmad K Permana, Islamic Business Unit Division Head of PT Bank Permata Tbk (Permata Syariah), said that the company saw a 75 percent increase in finance portfolio to Rp 2.1 trillion in the first half of 2011 from Rp 1.2 trillion YOY. More of its finance portfolio was to micro, small and medium enterprises (MSME) for working financing.

Permata Syariah develops its network through channeling with Bank Permata that its finance portfolio grows. At the moment, every branch office also offers Islamic banking products.

Its third-party fund also surged 91.67 percent to Rp 2.3 trillion from Rp 1.2 trillion that prompted its assets to Rp 3.1 trillion. "We estimate that our second half assets will grow Rp 700 billion while our finance portfolio will increase by at least 45 percent,” Achmad said.

Non-Performing Financing

PT Bank Syariah Mandiri, a subsidiary of PT Bank Mandiri Tbk (BMRI), posted 51.03 percent increase in finance portfolio to Rp 30.01 trillion in the first semester of 201 from Rp 19.87 trillion YOY.

Its financing focus was on MSME including consumer finance portfolio that reached above 65 percent. The remaining was for corporate sector. Despite its high growth in finance portfolio, the bank can maintain its non-performing financing at 1.14 percent.

The bank saw a 45.52 percent growth in third-party fund to Rp 33.95 trillion in January-June 2011 from Rp 23.33 trillion YOY. Its asset also rose 44.99 percent to Rp 38.25 trillion from Rp 26.38 trillion.

PT BNI Syariah, a subsidiary of PT BNI Tbk (BBNI), booked a finance portfolio of Rp 4.49 trillion in the first semester of 2011. Around 50 percent was for housing finance portfolio. The bank targets a 35.3 percent increase in housing finance portfolio to Rp 2.3 trillion by year-end from Rp 1.7 trillion YOY.

Its housing finance was disbursed to areas in Jakarta, Bogor, Depok, Tangerang and Bekasi (Jabodetabek) and the remaining were to Surabaya and outside Java. According to Achmad, the non-performing financing is still low at 3 percent.

The bank also had an outstanding corporate financing of Rp 900 billion -Rp 1 trillion in the first semester of 2011 or 25 percent of total finance portfolio. The bank targets a corporate finance portfolio of Rp 1.2 trillion. It also had a gold pawn financing at 5 percent of total finance portfolio.

BNI Syariah also plans to enter micro finance sector in the fourth quarter of 2011. The bank will disburse financing at a maximum of Rp 10 billion for each borrower.

Bank Indonesia mentioned that Islamic banking industry’s finance portfolio grew 48 percent to Rp 83 trillion in the first semester of 2011 from Rp 55.8 trillion. There are 11 Islamic commercial banks and 23 Islamic business units. (*)


Source: ARTHUR GIDEON & MYRNA AGATA RIYANTO - indonesiafinancetoday.com


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