Jakarta, ThedailyID — Bank Syariah Indonesia (BSI) recorded the highest savings growth in Indonesia’s banking industry during the first quarter of 2026. The increase was driven by strong demand for Hajj savings accounts and rising interest from younger customers.
The bank reported that total Hajj savings customers reached 7.25 million. Around 1.2 million of them came from Millennial and Gen-Z groups.
BSI said the growth continued the company’s strong post-merger performance. The bank also credited its dual license model as both a sharia bank and bullion bank for expanding its customer base rapidly.
Since its merger on February 1, 2021, BSI has added 9.26 million new customers. Meanwhile, the bank gained another 500,000 customers during the first three months of 2026, bringing the total to 23.7 million.
The stronger customer base pushed third-party funds (DPK) up 18 percent year-on-year to Rp376.8 trillion in the first quarter of 2026.
In addition, low-cost funds (CASA) recorded significant growth. Giro deposits increased 24.17 percent to Rp71.7 trillion, while savings deposits rose 20.18 percent to Rp164.5 trillion.
Total CASA funds climbed 21.36 percent year-on-year and reached Rp236.2 trillion.
“Savings accounts have become one of BSI’s main growth engines, especially Hajj savings,” said Anggoro Eko Cahyo during the company’s quarterly performance presentation.
According to Anggoro, BSI currently focuses on expanding Hajj savings, payroll accounts, and business savings products.
The bank also reported rising public interest in Hajj registration nationwide. National Hajj registrations increased from 286,400 applicants in 2023 to 422,300 applicants in 2025.
BSI strengthened its dominance in the Hajj savings market during the same period. Its market share rose from 49.5 percent in 2023 to 53.6 percent in 2025.
Out of 422,300 Hajj applicants in 2025, around 226,400 registered through BSI.
Meanwhile, 83.5 percent of Indonesia’s Hajj departure quota for 2026 came from pilgrims registered through BSI.
The company attributed the growth partly to easier account registration through BYOND by BSI and nationwide Hajj campaigns.
BSI’s total assets reached Rp460.1 trillion as of March 2026. The figure placed the bank among Indonesia’s top five banks after officially becoming a state-owned bank in January 2026.
The bank also highlighted growth in its gold business segment. BSI said its bullion banking license helped increase financial inclusion, with non-Muslim customers now accounting for 12 percent of its customer base.
BSI posted a net profit of Rp2.2 trillion in the first quarter of 2026, up 17.1 percent year-on-year.
Meanwhile, fee-based income rose 22.98 percent to Rp2.09 trillion. The gold business became the largest contributor, accounting for 33.69 percent of total fee-based income.
The bank reported that gold pawn financing grew 58.3 percent year-on-year, while digital gold services surged more than 2,700 percent.
BSI also expanded financing distribution by 14.39 percent year-on-year to Rp329 trillion. Most financing went to consumer and retail segments.
Despite rapid growth, financing quality remained healthy. Gross non-performing financing (NPF) improved to 1.8 percent from 1.88 percent previously.
