PT BRI Syariah Tbk (BRIS) posted a net profit growth for the year attributable to owners in 2020 of around 235.13% to Rp248.054 billion from Rp74.016 billion the previous year.

The financial report published on Friday (29/1) shows that the rise in net profit was supported by increased revenue after profit-sharing was around 44.46%, from  Rp2.159 trillion to Rp3.119 trillion.

The company's operating expenses increased by around 31.71% to Rp2.687 trillion at the end of December 2020 compared to the previous year's Rp2.040 trillion. Non-operating expenses also increased by more than seven times or to Rp26,980 billion from Rp3,172 billion.

In terms of financial ratios, the allowance for impairment losses (CKPN) of financial assets to productive assets increased to 2.64% from 1.18%, and the ratio of deposits to financing increased from 80.12% to 80.99%, the operating profit margin decreased. to 0.08% from 0.59%.

Meanwhile, BRI Syariah ROA and ROE throughout 2020 were at the level of 0.81% from 0.31% and 5.03% from 1.57%, respectively, net rewards were also able to be boosted and were in the position of 5.89% from the previous 5.72%, operating expenses to operating income were successfully reduced to 91.01% from 96.80%.

Total assets of BRI Syariah until the period ended December 2020 were recorded at Rp57,715 trillion from last year of Rp43,123 trillion.