PT Bank Syariah Indonesia Tbk (BSI) recorded a net profit of Rp742 billion in the first quarter of 2021, up 12.85% compared to the same period last year of Rp657 billion.

"Growth in performance in the first quarter of 2021 is driven by an increase in profit margin and profit sharing until the first quarter of 2021 by 5.16% year on year (YoY)," said BSI President Director Hery Gunardi in a press release on  Friday (7/5).

He added that the increase in profit was also driven by an expansion of financing and an optimal rise in low-cost funds so that the cost of funds or the cost of funds as part of bank profits would be higher.

"To improve performance, this year BSI focuses on four things including encouraging healthy and sustainable business growth, managing efficiency, accelerating digital capabilities and post-merger operational integration," he continued.

With high-profit growth, BSI can increase the profitability rati