Bank Syariah Indonesia


PT Bank Syariah Indonesia Tbk is a state-owned Islamic bank in Indonesia. The bank was officially founded on 1 February 2021 as a result of merger between state-owned sharia banks.
Bank Syariah Indonesia has obtained the merger permit from the Financial Services Authority dated 27 January 2021, using BRI Syariah as the surviving company. As of June 2024, BSI is the world's largest Islamic bank by customer numbers. BSI ATMs do not accept foreign cards.

History

BSI originated from three state-owned banks which are subsidiary of larger banks: BRIsyariah, Bank Syariah Mandiri and BNI Syariah.
  • Bank Syariah Mandiri: The bank was founded in 1955 as Bank Industri Nasional ; in 1967 it was changed into Bank Maritim Indonesia and was changed again in 1973 into Bank Susila Bakti. In 1999, the newly founded Bank Mandiri became majority shareholder of the bank, and was converted to sharia banking in 1999 as Bank Syariah Mandiri.
  • BNI Syariah: The bank was founded on 29 April 2000 as a sharia banking unit of BNI. In 2010, it spun-off as a separate subsidiary.
  • BRIsyariah: The bank was originally established on 3 July 1969 as Bank Djasa Arta and headquartered in Bandung, West Java. On 19 December 2007, the bank was acquired by BRI. Following Bank Indonesia permit on 16 October 2008, it was converted to sharia banking and officially operated as BRI Syariah on 17 November 2008; in 2009 the sharia banking unit of BRI was officially merged to the bank. In 2018, the bank went public in Indonesian Stock Exchange.
Before the establishment of its rival Bank Syariah Nasional in October 2025, BSI were supposed to acquire another state-owned bank BTN Syariah, which was founded on 14 February 2005 as a sharia banking unit of Bank Tabungan Negara. But BTN instead was supposed to acquire Bank Muamalat Indonesia and it would be finished in March 2024., the acquisition plan of BMI by BTN was cancelled due to due diligence results. BTN then acquired 100% shares of Bank Victoria Syariah on 5 June 2025 as a step to facilitate the spin-off of the sharia banking unit into a BTN subsidiary.
On 22 December 2025, based on the results of the Extraordinary General Meeting of Shareholders, due to the inclusion of Indonesian government' special rights of the Republic of Indonesia in the ownership of Series A Dwiwarna Shares in BSI, the corporate status of the bank changed from previously a subsidiary of Bank Mandiri to a state-owned enterprise in the form of a Limited Liability Company. Therefore, the official name of BSI was changed to PT Bank Syariah Indonesia Tbk. The change in the company's legal status is stated in the Deed of Statement of Meeting Decisions Number 2 dated 5 January 2026, which was made before a notary Ashoya Ratam, and approved by the Ministry of Law through Decree Number AHU-0003351.AH.01.02 of 2026 and a letter of acceptance of notification with Number AHU-AH.01.03-0019406 dated 23 January 2026.

Overseas branches

As of 2024, BSI is Indonesia's sixth-biggest bank in terms of assets. BSI has been trying to expand its business in the Middle East, having opened a representative office in Dubai International Financial Center in early January 2022. The bank is planning to open a branch in Saudi Arabia.