BRI Syariah, the Islamic banking unit of leading Indonesian commercial bank Bank Rakyat Indonesia (BRI), is currently assessing the prospects of conducting an initial public offering (IPO) on the Indonesia Stock Exchange (IDX). If BRI Syariah will indeed go-ahead with the IPO, then it will not be realized sooner than early 2018.
BRI Syariah is one of the few syariah banks in Indonesia that showed declining net profit so far in 2017. Per April 2017 its net profit had fallen 33.9% year-on-year (y/y) to Rp45.15 billion. Regarding full-year 2017, BRI Syariah targets to collect Rp192.3 billion worth of net profit, which would be a 13% growth pace from net profit realization in 2016.