Jumbo transaction: BTN acquires Rp19.9 trillion credit portfolio from SMBC

PT Bank Tabungan Negara (Persero) Tbk (BBTN) has agreed to acquire a loan portfolio from PT Bank SMBC Indonesia Tbk in a transaction valued at Rp19.93 trillion.

According to regulatory disclosures, SMBC Indonesia and BTN signed transaction documents on 22 May 2026.

The documents include a Conditional Portfolio Transfer Agreement (CPTA) and a Conditional Loan Asset Transfer Agreement (CLATA).

Through the transaction, SMBC Indonesia agreed to sell and transfer a loan portfolio related to retirees and pre-retirees with pension benefits managed by PT Taspen (Persero). The deal also includes pension and pre-retirement loan portfolios managed by PT Asabri (Persero), other pension funds, and specific active employee loans.

“The company agrees to sell and transfer, and the buyer agrees to purchase and receive the Loan Portfolio,” stated SMBC Indonesia’s management in the disclosure.

The total value of the CPTA and CLATA transactions amounts to Rp19.93 trillion, equivalent to 46.3% of SMBC Indonesia’s equity as of 31 December 2025.

SMBC Indonesia also confirmed there is no affiliation between the two banks.

The transaction was assessed by KJPP Wawat Jatmika & Rekan, with a fairness opinion report stating the deal is fair.