Regarding The Acquisition Of Islamic Banks, BTN Boss: We Have Agreed On The Price

PT Bank Tabungan Negara (Persero) Tbk (BBTN) has secured a price agreement with prospective Islamic banks which will become a shell for BTN Syariah in the context of spin off or releasing the BTN sharia business unit (UUS).

President Director of PT Bank Tabungan Negara (Persero Tbk) (BBTN), Nixon LP Napitupulu said the conditional sale and purchase agreement (CSPA) could be completed this year.

"On the process. We have agreed at least the price with the candidate. But maybe the execution is yes, we hope that the CSPA (Conditional Sale and Purchase Agreement) this year," said Nixon at the BTN Tower, Jakarta, Tuesday, October 15.

Furthermore, Nixon said that the transakis for buyers of Islamic banks would be agreed upon at a general meeting of shareholders (GMS) or an extraordinary general meeting of shareholders (EGMS).

"When is the EGMS? We leave it to the owner or government. But if possible, it will be no later than the beginning of the year," said Nixon.

Nixon said that if the acquisition process was complete, BTN would continue the UUS spin-off process as well as the acquired Islamic bank.

"Then after buying it, it is owned, tidied up, only in the spin-off approximately in June or July, so there are six months of mind-taking of goods from BTN to BTN Syariah," said Nixon.

Nixon explained that the UUS spin-off is targeted to be carried out in mid-2025, because BTN must comply with OJK Regulation (POJK) Number 12 of 2023 concerning 2023. In the POJK, the UUS must be separated from conventional commercial banks (BUK).

"Because our POJK must be orderly next year, November 2025," he said.