BTN Sets A Target For Acquisition Of Bank Victoria Syariah Can Be Ratified In March 2025

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BTN) has started the acquisition process of Islamic commercial banks, namely PT Bank Victoria Syariah (BVIS). The target is that the acquisition can be approved in March.

This was conveyed by the President Director of PT Bank Tabungan Negara (Persero) Tbk (BBTN), Nixon Napitupulu when met after the Christmas celebration of the Ministry of SOEs in Jiexpo Kemayoran, Jakarta, Monday, January 20.

Nixon said that the decision would be made through the BTN General Meeting of Shareholders (GMS) which will be held on March 14, 2025.

March 14th, the BTN GMS was decided there, if nothing changes. But we are planning March 14, "said Nixon.

For your information, the acquisition of Bank Victoria Syariah was carried out to become a new Islamic commercial bank. BTN will later separate or spin-off its sharia business unit (UUS), namely BTN Syariah and combine it with Bank Victoria Syariah to become a stand-alone Islamic commercial bank, not just a BTN UUS.

Nixon said the BTN Syariah spin-off process is targeted to be completed in the first semester of 2025.

"If nothing goes wrong, it's also a plan, in the first semester of 2025," said Nixon.

To acquire Bank Victoria Syariah, continued Nixon, BTN must also spend IDR 1 trillion.

"We clean the name. What was left was only SBN, Government bonds, the same as equity. Approximately Rp1 trillion, that's what we bought along with the PT, the shell," said Nixon.