Bank Syariah Indonesia (BRIS) is aiming to join the ranks of the world’s top five Islamic banks, with a focused strategy centered on Hajj savings and gold-based financial services. The bank sees these two segments as key growth drivers that can significantly boost its performance and market position.
According to research by UOB Kay Hian (UOBKH), BRIS is targeting a 25% return on equity (ROE). This ambitious target is based on a few key assumptions: maintaining a cost-to-income ratio of 40%, achieving a product holding ratio (PHR) above five times, and keeping credit costs below 80 basis points.
PHR—also known as the inventory turnover ratio—measures how often a company sells and replaces its products over a certain period. A high PHR typically signals strong customer engagement and efficient product distribution. In this context, BRIS has identified its Hajj and gold offerings as core contributors to this metric.
Currently, gold-backed payroll loans represent only 6.9% of BRIS’s total, yet they already deliver a PHR of 3.0x. This indicates substantial room for growth in gold-related services, which remain underutilized. The bank’s status as a bullion bank enhances its capabilities, allowing it to offer a full range of gold-based products—including savings, financing, investment, and ecosystem partnerships.
Meanwhile, BRIS’s Hajj savings accounts continue to show solid growth. As of 2025, the bank has expanded its Hajj customer base to 5.9 million accounts. The average balance per account has also increased—from IDR 2.1 million in previous years to IDR 2.5 million this year—highlighting growing trust and participation in the bank’s Hajj programs.
“Together, the Hajj and gold franchises provide sticky savings products and cost-effective funding, while also being high-margin businesses,” said UOBKH analyst Posmarito Pakpahan in a report dated October 9, 2025.
With its growing customer base, expanding product portfolio, and strong foothold in high-potential segments, BRIS is positioning itself to compete on a global scale. The bank’s focus on Hajj and gold services not only strengthens its profitability but also enhances its appeal among Indonesia’s large Muslim population seeking Shariah-compliant financial solutions.