Bank Panin Syariah
PT Bank Panin Syariah Tbk is an Indonesia-based commercial bank that provides services and products based on Islamic principles (sharia). The company, a subsidiary of Bank Pan Indonesia (Panin), has 13 branches. In January 2014 Bank Panin Syariah conducted an initial public offering on the Indonesia Stock Exchange (IDX), raising IDR 475 billion in new capital. It is the first and only full-fledged sharia bank to have listed on the IDX.
Profile
| Industry Sector | Finance |
| Industry Sub Sector | Banking |
| Established | 2009 |
| Listed | 15 January 2014 |
| Listed Company Code | PNBS |
| Listed Shares | 4,750,000,000,000 |
| Dividend | - |
| Major Shareholders (>5%) | Bank Pan Indonesia (51.96%) Dubai Islamic Bank (39.58%) |
| Key Subsidiaries | - |
Stock Quote Bank Panin Syariah - PNBS:
Business Summary
Bank Panin Syariah is a full-fledged sharia bank that offers four types of financing: murabahah (goods contract purchase), mudharabah (financing client to manage fund), musyarakah (partnership contract with profit/loss sharing principle), and qard (non-interest financing).
At the start of 2016 the company has 13 local branches located in Jakarta, Bogor, Surabaya, Bandung, Malang, Semarang, Sidoarjo, and Makassar.
Islamic banking is one of the untapped potentials of Indonesia. For a detailed overview of this industry visit our Islamic finance industry section.
Bank Panin Syariah's Financial Highlights:
| 2011 | 2012 | 2013 | 2014 | 2015F | 2016F | |
| Net Revenue | 70 | 146 | 273 | 527 | 712 | 897 |
| Gross Profit | ||||||
| EBITDA | ||||||
| Net Profit | 11 | 37 | 21 | 71 | 87 | 115 |
| Income before Tax | 15 | 50 | 29 | 96 | 116 | 153 |
| Total Assets | 1,019 | 2,141 | 4,053 | 6,208 | 6,920 | 8,232 |
| Total Liabilities | 564 | 1,649 | 3,527 | 5,135 | 5,754 | 6,995 |
| Earnings per Share¹ | 2.2 | 7.4 | 4.3 | 7.2 | 8.9 | 11.7 |
| P/E Ratio (x) | 24.9 | 27.5 | 20.9 | |||
| PBV (x) | 1.6 | 2.1 | 1.9 |
in billion IDR rupiah unless otherwise stated
¹ in IDR rupiah
Source: Pefindo
Strengths of Bank Panin Syariah:
• The only sharia bank that has listed on the Indonesia Stock Exchange (IDX)
• Supported by the sixth-largest commercial bank in Indonesia (Bank Panin)
• Islamic finance in Indonesia is yet to take off (although the country contains the world’s largest Muslim population)
• The company secures collateral with a value higher than the loan disbursed and has never entered unsecured financing (Kredit Tanpa Agunan, or KTA)
• Low non-performing loans (NPL)
Weaknesses of Bank Panin Syariah:
• The bank still has a small branch network
• Limited amount of products and services
• Tight competition in Indonesia’s banking sector
Location
Contact Details
Gedung Panin Life Center
Jalan Letjen S. Parman Kav. 91
Slipi, West Jakarta - 11420
Phone: +62 21 5695 6100
Fax: +62 21 5695 6105
Email: corsec@paninbanksyariah.co.id
www.paninbanksyariah.co.id