BTN Plans to Partner with Multifinance Company, Targets Completion in Second Half of 2026

PT Bank Tabungan Negara (Persero) Tbk. (BBTN) has provided the latest update on its plans to establish a subsidiary in the motor vehicle financing sector. BTN’s President Director, Nixon L.P. Napitupulu, stated that the bank is currently seeking partners to collaborate on setting up the company. “We are examining collaborations with whom. So, we are not creating it ourselves; we are partnering. A joint finance or specific collaboration for motor vehicle financing,” said Nixon when met at the RI House of Representatives building on Monday (6/4/2026). He explained that this plan is driven by the need to fulfil the requirements of Home Ownership Credit (KPR) customers who also require vehicles. “In particular, those who buy houses at the same time also need vehicles. So, we will bundle them later,” Nixon added. He mentioned that the state-owned bank is reviewing various companies for partnership. According to Nixon, the partnered companies could number more than one entity. “If it’s a collaboration, it’s open to several. Not necessarily just one. Not necessarily a single collaboration,” he concluded. The plan is targeted for completion in the second half of 2026. Previously, Nixon had disclosed that BTN has prepared plans to establish a financing company subsidiary, with an investment value of around Rp 3 trillion to Rp 5 trillion.