BSI’s Gold Business Surges 78%, Reaching IDR 12.8 Trillion
JAKARTA, investortrust.id –PT Bank Syariah Indonesia Tbk, the nation's largest Islamic bank, has experienced a significant surge in its gold business, a development that reinforces its strategic emphasis on the commodity amidst a backdrop of rising gold prices last year.
The lender, also known as BSI, recorded a significant 78.17% year-on-year growth in its gold business, reaching Rp 12.8 trillion ($783 million) in 2024, BSI’s Director of Sales & Distribution Anton Sukarna said in a press release on Sunday, Jan. 2, 2025.
He said that gold prices have consistently risen at an annual rate of 20-30%, reinforcing its appeal as a safe-haven investment amid economic fluctuations.
Gold Pawn and Installment Services
To further drive its gold business, Anton noted that BSI is intensifying the promotion of its gold pawn and installment services, offering customers a financial management solution amid rising gold prices. Gold has long been regarded as a hedge against inflation.
In line with this, BSI is also ramping up efforts to enhance public awareness of secure gold investment while promoting its gold ownership products, including pawn and installment schemes.
“We will continue to optimize our gold business with the goal of improving financial literacy around safe and accessible gold investment, especially amid the rise of fraudulent schemes promising high returns,” Anton emphasized.
“Gold’s status as a safe-haven asset has been proven, as its value remains unaffected by annual inflation,” he added.
Growing Appeal Among Millennials and Gen Z
Anton pointed out that approximately 50% of BSI’s gold installment customers come from Gen Z and millennial demographics, indicating strong interest in gold as an investment alternative among younger investors.
Beyond gold pawn and installment services, BSI is also expanding its offerings with gold custodial and trading services in preparation for becoming a bullion bank. Recently, the bank introduced BSI Gold, its own branded gold bars, in collaboration with gold manufacturer PT Hartadinata Abadi Tbk (HRTA).
According to Anton, BSI Gold is being positioned as a tradable commodity once the bank secures its bullion banking license from the Financial Services Authority.
“Customers can benefit from gold custodial services and buyback options at BSI branches across Indonesia. With these comprehensive services, they no longer need to worry about liquidity needs, as they can pawn their gold at BSI without having to sell their existing holdings,” he concluded.