Askrindo Partners with BTN, Business Expansion Opportunity Reaches 1.5 Trillion Rupiah
PT Asuransi Kredit Indonesia (Askrindo) has entered into a Commercial Line Facility Contra Bank Guarantee agreement with PT Bank Tabungan Negara (Persero) Tbk (Bank BTN) to strengthen financing and guarantee support for business operators in both the construction and non-construction sectors.
The agreement was signed by Askrindo’s Director of Business Budhi Novianto and Bank BTN’s Division Head of Financial Institution & Capital Market R. Wahju Budhi Witjaksono. Through this collaboration, Askrindo has obtained a facility of up to 1.5 trillion rupiah to support business expansion in its commercial line operations.
The Contra Bank Guarantee scheme has been designed to provide certainty and risk mitigation in the issuance of bank guarantees, particularly for companies requiring guarantees in tender processes and project implementation.
Askrindo’s Director of Business Budhi Novianto stated that this collaboration represents a strategic step for the company in broadening its market penetration in the suretyship sector whilst strengthening synergies with the national banking sector.
“This collaboration represents an important momentum for Askrindo to strengthen its role as a strategic banking partner in providing credible and competitive guarantee solutions. With a facility capacity of up to 1.5 trillion rupiah, we are optimistic that we can accelerate productive projects and provide certainty for business operators,” Budhi said.
According to him, strengthening the commercial line business aligns with Askrindo’s business transformation efforts aimed at increasing the proportion of non-programme portfolio. This move is also directed towards improving the quality of company assets whilst strengthening risk management.
Budhi assessed that the collaboration with Bank BTN further reinforces Askrindo’s position as one of the leading players in the guarantee and credit insurance industry in Indonesia. Guarantee support through the contra bank guarantee scheme is expected to help business operators obtain access to a wider range of projects.
Additionally, both institutions are also opening opportunities for developing other product collaborations in the future. These include credit insurance services, fire insurance, and various integrated protection solutions that can support the financing and risk management needs of business operators.
“Going forward, it is not ruled out that this collaboration will develop into various other protection products that can provide more comprehensive solutions for customers,” Budhi said.
Amid the dynamics of the financial services industry, Askrindo ensures that all business strengthening is conducted whilst maintaining the principle of prudence and coordination with regulators and relevant stakeholders.
Budhi emphasised that the company’s business expansion must proceed in tandem with strengthening governance and risk management. According to him, this is important to maintain the company’s operational stability whilst retaining public confidence in the national insurance industry.
“For Askrindo, business expansion must proceed hand in hand with strengthening governance and risk management. We ensure that every transformation step is carried out in a measured, transparent manner, and in active coordination with regulators and stakeholders,” he said.
He added that protecting customer interests remains the company’s top priority in conducting business transformation. This commitment forms part of Askrindo’s contribution to strengthening the national financial system and building a healthy and sustainable ecosystem for risk protection.
Budhi emphasised that public confidence is the foundation for the sustainability of the insurance industry. Therefore, Askrindo is committed to maintaining transparency, improving service quality, and ensuring that every product innovation adheres to the principle of prudence.
“Public confidence is the foundation, and protection of customer interests will always be our priority in supporting the stability of the national financial system,” Budhi said.