BTN Says SAL Funds Strengthen Banking Liquidity
PT Bank Tabungan Negara (Persero) Tbk (BTN) has stated that the government’s placement of excess budget balance (SAL) funds is helping to maintain banking liquidity amidst tight funding conditions. This support has also driven BTN’s credit growth to double digits in the first half of 2026.
BTN President Director Nixon LP Napitupulu said that by the end of June 2026, SAL funds placed at BTN had reached approximately Rp 38 trillion. All of these funds were utilised to support credit distribution in line with government directives.
“The latest position is Rp 38 trillion. We are indeed using all of it for bank credit, in accordance with the initial directive that this helps credit growth,” Nixon said during a press conference on the first half of 2026 performance in Jakarta, Thursday (16/7/2026).
According to Nixon, the funds were channelled to various financing segments, ranging from home ownership loans (KPR), commercial credit, and construction, to financing for several state-owned enterprises (BUMN), including Bulog.
He said the placement of SAL funds helped support BTN’s credit growth, which reached 11.2 per cent in the first half of 2026. This figure increased compared to credit growth of around 6 per cent in the same period the previous year.
Nevertheless, Nixon cautioned that the timing of both the placement and withdrawal of SAL funds needs to be well coordinated so as not to trigger liquidity pressures in the banking industry.
According to him, liquidity had previously tightened when the withdrawal of SAL funds occurred simultaneously with an increase in the BI Rate, rising yields on Bank Indonesia Rupiah Securities (SRBI), and the issuance of other instruments that also absorbed funds from the market.
“The most important thing is actually the timing. If everything withdraws liquidity at the same time, banks will certainly be under pressure. That is what previously triggered competition in deposit interest rates,” he said.
Nixon said the situation began to improve after the government again placed SAL funds at the end of June. BTN even received additional funds of around Rp 13 trillion from this re-placement.
Although a portion of the SAL funds is scheduled to be withdrawn again in September, Nixon hopes the process will be carried out gradually so as not to put pressure on banking liquidity again. “The good thing now is that the schedule is clear, so we can prepare the liquidity,” he said.