BTN acquires SMBC Indonesia's Rp 19.93 trillion loan portfolio to expand pensioner services
Jakarta, Kompas.com - PTBank Tabungan Negara ( Persero) Tbk ( BTN ) has acquired SMBC Indonesia’s loan portfolio worth Rp 19.93 trillion to strengthen its pension and payroll lending business and expand financial services for retirement customers.
BTN Corporate Secretary Ramon Armando said the move is part of the bank’s transformation strategy to diversify beyond mortgage lending. ‘This transaction is part of BTN’s transformation into a’ beyond mortgage’ bank, where the company focuses not only on housing financing but also expanding its financial ecosystem through strengthening payroll loan, pension, and transactional banking segments,’ he said in a written statement on Monday ( 25 May 2026).
Armando highlighted that the pension and payroll loan segments have relatively stable payment characteristics, making them a sustainable growth source for the bank. BTN projects that the portfolio transfer will positively impact asset and credit growth moving forward.
‘This step also aligns with BTN’s strategy to build a broader and more inclusive financial ecosystem while strengthening its position as a consumer bank with comprehensive services for the public,’ he added.
The transaction was formalised through a Conditional Portfolio Transfer Agreement ( CPTA ) and Conditional Loan Asset Transfer Agreement ( CLATA ) on 22 May 2026. Under the CPTA, BTN will take over pension and pre-pension loan portfolios managed by PT Taspen ( Persero ) with an estimated value of Rp 12.58 trillion.
BTN assured all transaction processes comply with regulatory requirements and adhere to prudent banking principles. The bank also emphasised that the transaction is not related-party and does not involve conflicts of interest as per OJK regulations on related-party transactions and conflicts of interest.
Furthermore, the transaction will be completed once all preliminary conditions outlined in the agreements are met. BTN stated that the CPTA and CLATA are standalone and can be concluded separately.
‘Through this strategic move, BTN is optimistic it can continue to strengthen business growth while expanding access to financial services for Indonesians,’ he concluded.