From Merger to Market Leader: An RBBR-Based Health Check of Bank Syariah Indonesia Tbk

Abstract

Introduction/Main Objectives: This study analyzes Bank Syariah Indonesia's (BSI) soundness level in 2025 using the Risk-Based Bank Rating (RBBR) method, tracing its journey from merger to market leadership as the largest Islamic bank resulting from the consolidation of three state-owned banks in 2021. Research Methods: Using a quantitative descriptive approach with secondary data from BSI's annual reports, financial ratios (NPF, FDR, ROA, ROE, NOM, BOPO, CAR) were calculated and compared with OJK Regulation No. 8/POJK.03/2014 standards. Finding/Results: BSI achieved a "Very Healthy" predicate with excellent asset quality, optimal liquidity, sound governance, strong profitability, exceptional operational efficiency, and capital adequacy far above regulatory requirements, confirming its successful transition from merger to market leadership. Conclusion: BSI maintained a “Very Healthy” rating, reflecting strong consolidation, risk management, governance, and resilience.