BTN acquires SMBC Indonesia's Rp19.93 trillion credit portfolio
Jakarta (ANTARA) - PT Bank Tabungan Negara (Persero) Tbk (BTN) has signed two transfer agreements for pension credit, pre-retirement credit, and active employee credit portfolios owned by PT Bank SMBC Indonesia Tbk (SMBCI) with a total value of Rp19.93 trillion.
According to the company, the transaction is part of a strategic move to expand its national retail business base in line with its transformation into a bank serving beyond mortgage.
BTN Corporate Secretary Ramon Armando stated in Jakarta on Monday that the move is part of the company’s strategy to strengthen sustainable business growth while adhering to prudence and good corporate governance.
“This transaction is part of BTN’s transformation into a beyond mortgage bank, where the company is not only focused on housing finance but also expanding its financial services ecosystem through strengthening payroll loans, pension segments, and transactional banking,” Ramon said.
The signing took place on 22 May 2026 via Conditional Portfolio Transfer Agreement (CPTA) and Conditional Loan Asset Transfer Agreement (CLATA), both disclosed to the Financial Services Authority (OJK) on Monday.
Under the CPTA, BTN will acquire a pension and pre-pension loan portfolio managed by TASPEN with an estimated value of Rp12.58 trillion.
Meanwhile, through the CLATA, BTN will acquire pension-related loans from ASABRI, other pension funds, and active employee loans from state-owned enterprises and government institutions with an estimated value of Rp7.34 trillion.
Ramon explained that pension and payroll loan segments have relatively stable payment characteristics, making them a sustainable growth source for the company.
In addition to strengthening the credit portfolio, the transaction also presents opportunities for cheaper funding, customer transactions, and optimising BTN’s service ecosystem across Indonesia.
BTN projects the transaction will positively impact future business growth through increased total assets and credit portfolio.
“This move 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,” Ramon said.
He added that BTN has ensured all transaction processes comply with regulatory requirements and adhere to prudent banking principles.
The company confirmed the transaction is not an affiliated transaction and does not involve conflicts of interest as per OJK regulations on affiliated transactions and conflicts of interest.
Furthermore, the transaction will be completed once all preliminary conditions stipulated in the agreement are met by both parties.
BTN also confirmed that the CPTA and CLATA transactions are separate and can be completed at different times.
“Through this strategic move, BTN is confident it can continue to strengthen business growth while expanding financial services access for the Indonesian public,” Ramon said.