A BUSINESS STRATEGY PROPOSAL FOR RURAL BANKS POST-COVID 19: A CASE STUDY OF BPRS AL SALAAM

• Main Author: Utomo, Hari
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/69898
• Institution: Institut Teknologi Bandung

BPRS Al Salaam is a rural sharia financing bank that was founded in 1991 in Cinere, Depok. Currently, it has 9 branch offices and 273 employees. The financial performance was so good that it won the award for 3 consecutive years as the best BPRS in Indonesia at the Infobank Sharia Award in 2017-2019. Since the COVID-19 pandemic, the performance of BPRS Al Salaam has decreased quite sharply. Assets, third-party funds, and financing deposit ratios decreased in 2020 and 2021. Total financing decreased from 198 billion to 182 billion in 2021 compared to 2020. This research was conducted qualitatively by studying primary data and secondary data. Primary data was obtained through interviews and secondary data was obtained from literature studies, analysis of financial statements, journals, books, and website information. To see the factors that influence the financing performance of BPRS Al Salaam, an external analysis was carried out using PESTEL, Porter’s five forces, competitor analysis, and external factor evaluation. Internally, the analysis is carried out by means of financial analysis, VRIO, and internal factor evaluation. Based on the analysis of internal and external factor evaluation, an alternative strategy was developed using the Internal External (IE) matrix. Based on the values obtained from the EFE and IFE matrix weighted scores, the grand strategy for BPRS Al Salaam is included in Grow and Built with market penetration, and market development strategy. To get a more detailed strategy, the TOWS matrix analysis was carried out and resulted in 4 alternative strategies, namely digitalizing bank services, improving the quality of human resources, developing digital marketing, and collaborating with sharia fintech. Based on the analysis using QSPM, the most priority sequences of strategy to be implemented are digitalizing bank services, improving the quality of human resources, developing digital marketing, and collaborating with Sharia Fintech.