OJK Revokes BTPN Syariah Ventura's Licence, SMBC Responds

Jakarta, CNBC Indonesia - The Financial Services Authority (OJK) has officially revoked the business licence of PT BTPN Syariah Ventura (BTPNSV). In response, PT Bank SMBC Indonesia Tbk. (BTPN) stated it supports the dissolution of BTPNSV as a standalone legal entity and will integrate its business activities into the SMBC financial conglomerate.

In an information disclosure submitted to the OJK and the Indonesia Stock Exchange (BEI), Bank SMBC Indonesia revealed that on 5 August 2026, the company received a letter from BTPNSV regarding the licence revocation based on OJK Decree Number KEP-47/D-06/2026 dated 3 August 2026.

BTPNSV is a member of the SMBC Financial Conglomerate, with Bank SMBC Indonesia acting as the Parent Company of the Financial Conglomerate (PIKK). According to the company, the dissolution of BTPNSV as an independent legal entity is part of an effort to integrate its business activities into the SMBC financial conglomerate.

This move is expected to ensure the sustainability of the digital ecosystem mission for inclusive communities more effectively, while optimising the SMBC Financial Conglomerate’s long-term strategy through more integrated risk management and governance that is adaptive to market dynamics.

The company also affirmed that the revocation of BTPNSV’s business licence will not have a material impact on the financial condition or operations of Bank SMBC Indonesia. The business activities previously carried out by BTPNSV will continue to be executed within the SMBC financial conglomerate through an integrated organisational structure. This integration is expected to improve operational efficiency, simplify the organisational structure, strengthen governance and integrated risk management, and support the achievement of the group’s long-term strategy.