BTN Reveals Reasons for Rp19.9 Trillion SMBC Pension Loan Acquisition
JAKARTA — PT Bank Tabungan Negara (Persero) Tbk (BTN) has signed two transfer agreements for pension loans, pre-retirement loans, and active employee loans of state-owned enterprises (SOEs) or government institutions owned by PT Bank SMBC Indonesia Tbk (SMBCI).
The transaction is part of the company’s strategic move to expand its national retail business in line with its transformation into a beyond mortgage bank.
The signing took place on 22 May 2026 via Conditional Portfolio Transfer Agreement (CPTA) and Conditional Loan Asset Transfer Agreement (CLATA), disclosed to the Financial Services Authority (OJK) on Monday (25 May).
BTN Corporate Secretary Ramon Armando said the move is part of the company’s strategy to strengthen sustainable business growth while upholding 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 service ecosystem through strengthening payroll loan, pension, and transactional banking segments,” Armando stated in a written release on Monday (25 May).
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 transaction, BTN will acquire pension-related assets from ASABRI, other pension funds, and active employee loans from SOEs and government institutions, estimated at Rp7.34 trillion.
According to Armando, the pension and payroll loan segments have relatively stable payment characteristics, making them a sustainable growth source for the company.
In addition to strengthening the loan portfolio, the transaction also opens 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 loan portfolio.
“This move aligns with BTN’s strategy to build a broader and more inclusive financial ecosystem, while strengthening the company’s position as a consumer bank with comprehensive services for the public,” Armando added.
Armando confirmed all transaction processes comply with regulatory requirements and adhere to prudent banking principles.
The company also stated the transaction is not an affiliate transaction and does not involve conflicts of interest as per OJK regulations on affiliate 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 reiterated that the CPTA and CLATA transactions are standalone and can be completed at different times.
“Through this strategic move, BTN is confident it can continue strengthening business growth while expanding financial service access for the Indonesian public,” Armando concluded.