Back to announcement
20260326_BSIM_Laporan Hasil Pemeringkatan_32055274_lamp3.pdf
Other Text extracted BSIMSource file signed link, expires in 15 minutes
Extracted text 2
Page 1 OCR 0.900
RATING RATIONALE @GKRI PT Bank Sinarmas Tbk (BSIM) Company Rating #At!/Stable Rated Issue Obligasi Subordinasi Berkelanjutan I Bank Sinarmas irA Rating Period March 17, 2026 — April 1, 2027 Rating History March 2025 rAt/Stable March 2024 rAtIStable March 2023 #AtIStable April 2022 irAtIStable October 2021 irAlStable October 2020 rAlStable Kredit Rating Indonesia has affirmed its “,At” rating for PT Bank Sinarmas Tbk with “Stable” Outlook Kredit Rating Indonesia (“KRI”) has affirmed its “At” rating for PT Bank Sinarmas Tbk (“BSIM” or “the Bank”) with “Stable" Outlook. At the same time, KRI has affirmed “,A" rating to Obligasi Subordinasi Berkelanjutan I Bank Sinarmas totaling IDR 3 trillion. The ratings reflect BSIM's strong capitalization and improving asset guality. However, BSIM's profitability level is also considered in the ratings assigned. BSIM was established in 1989 operating under the name of Bank Shinta at that time and later acguired by PT Sinar Mas Multiartha Tbk (SMMA/4AA) in 2005. As of 9M2025, SMMA holds a 60.0Y4 of shares in BSIM, and the public with 40.094. As of FY2025, BSIM.owned 279 offices and outlets across Indonesia to support their business activities. BSIM has also gradually improved its Information Technology infrastructure and human resources to deliver better guality of services with digitalization BSIM holds a small market position, capturing only 0.13Y4 of the lending market and 0.39Y6 of customer deposits as of 9IM2025. Given the current business environment, BSIM remains focused on maintaining its portfolio while adopting a more selective lending strategy. Despite its small market share, BSIM has sustained a strong Current Account Saving Account Ratio, exceeding 60Yh in recent years (9M2025: 724, 9IM2024: 750) BSIM's Capital Adeguacy Ratio (CAR) stood at 32.545 as of 9M2025, positioning BSIM above the industry average. Meanwhile, BSIM's Return on Assets (ROA) improved slightly from 0.6Yo in 9M2024 to 0.746 in 9M2025. The improvement was mainly driven by stronger non-interest income, including higher gains from financial asset transactions, treasury-related activities, and other operating income, which helped offset the weakening in net interest income BSIM's asset guality remained relatively sound, with the non-performing loan ratio recorded at 1.99h in 2024, although it showed a slight deterioration to 2.16 as of 9M2025. Going forward, KRI views the Bank's ability to further strengthen its underwriting standards, credit monitoring, and collection practices as important to preserving asset guality ata manageable level. Downward rating pressure may arise from a significant decline in capitalization or further deterioration in asset guality, which could weaken BSIM's profitability. PT Bank Sinarmas Tbk 1
Page 2 OCR 0.901
RATING RATIONALE @KRI BSIM Financial Result Highlights (Consolidated) Sep 2025 Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 As ofiFor the years ended (Unsudited) (Audited) | (Audited) | (Audited) | (Audited) Total Asset (IDR, billion) 55,743.3 55,624.4 52,635.0 47,350.6 | 52,672.0 Total Gross Loans (IDR, billion) 10,497.2 14,628.3 17,255.8 15,898.6 | 18,328.2 Total Eguity (IDR, billion) 8,686.7 8,032.4 7,826.8 7,285.0 7,359.4 Total Cust. Deposit (IDR, billion) 45,058.4 44,819.9 42 1461 38,714.0 | 44,468.9 Net Interest Income (IDR, billion) 1,528.5 2,052.1 2,623.3 2,532.6 2,415.8 Net Income (IDR, billion) 305.7 291.5 75.8 221.2 127.7 ROA (“e) 0.7 0.6 0.2 0.5 0.3 NPL Gross (9) 21 0.8 1.5 8.0 4.6 Loan Loss Reserve/NPL (55) 420.2 1,324 649.1 167.7 190.8 CAR (20) 32.5 281 25.3 29.5 29.1 LDR (“) 224 38.4 40.9 MA 41.2 Analysts 1 Gromy Pilipi Pranata Purba (gromy.purba@kreditratingindonesia.com) Rizky Fajri Nursahadi (rizky.nursahadi@kreditratingindonesia.com) DISCLAIMER PT Kredit Rating Indonesia (KRI) does not represent or warrant or guarantee the accuracy, completeness, timeliness or availability of the contents of this report or publication. KRI does not perform an audit and does not undertake due diligence or independent verification of any information used as the basis of and presented in this report or publication. Although the information upon which KRI rating report are based, and any other contents provide in this rating report is obtained by KRI from sources which KRI believers to be reliable. KRI will be held harmiess against any responsibility arising from its use, its partial use, or its lack of use, in combination with other products or used solely, norcan it be held responsible for the result of its use or lack of its use in any investment or other kind of financial decision making on which this report or publication is based. The issuance of a solicited or unsolicited rating report does not supply financial, legal, tax or investment consultancy. The rating report is not an opinion as to the value of securities, therefore KRI is not responsible for any credit, loan or investment decision, damages or other losses resulting from the reliance upon or use of this report. In no event shall KRI be held liable for any direct, indirect, incidental, exemplary, compensatory, punitive, special or conseguentia! damages, costs, expenses, legal fees, or Iosses including but not limited to lost profits and opportunity costs in connection with any use of the contents of this rating report or publication. Credit analyses, including ratings, and statements in this report or publication are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold or sell any securities or to make any investment decision. Therefore, this report may not reflect any event or circumstances which occur after the date of this report. KRI also assumes no obligation to update the content following publication in any form. KRI does not act as fiduciary or an investment advisor. KRI keeps the activities of its analytical units separate from its business units to preserve Independence and objectivity of its analytical process and products. As a result, certain units of KRI may have information that is not available to other units. KRI has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process. KRI may receive compensation for its ratings and other analytical work, normally from issuers of securities. KRI reserves the right to disseminate its opinions and analyses. KRI'S public ratings and analyses are made available on its website, http://www.kreditratingindonesia.com (free of charge) and through other subscription based services, and may be distributed through other means, including via KRI publications and third party redistributors. Information in KRI's website and its use fall under the restrictions and disclaimer stated above. No part of KRI's website, the content of this report, may be reproduced or transmitted by any means, electronic or non-electronic whether in full or in part, will be subjected fo written approval from KRI. PT Bank Sinarmas Tbk 2
Names mentioned 3 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Bank Shinta
p.1
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.