BTN Ensures National Sharia Banks Fully Operate Before 2026

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) ensures that the company's Sharia Business Unit (UUS) will officially transform into a National Sharia Bank (BSN) before early 2026.

President Director of BTN Nixon LP Napitupulu said last week BTN's sharia subsidiary had completed an Extraordinary General Meeting of Shareholders (EGMS) and officially changed its name to the National Sharia Bank, after previously being named Bank Victoria Syariah.

"So, BSN can fully operate before 2026," Nixon said in the Public Expose Live 2025, Wednesday, September 10.

Nixon said that the existence of BSN would expand the choice of Islamic financial services in the country. According to him, the new Islamic bank will later be owned by the state, thereby strengthening the national sharia banking ecosystem as well as providing more alternative services for the community.

"Islamic countries of this size cannot be served by one bank for their sharia transaction needs. Instead, we need several banks so that Islamic banking transactions can grow and the sharia economy community can also grow," he said.

The BTN Sharia Business Unit (UUS) recorded solid performance in the first semester of 2025. UUS assets grew 18 percent to Rp65.56 trillion as of June 2025, surpassing the company's parent performance.

This growth was supported by a financing portfolio which rose 17 percent to Rp48 trillion. Sharia Third Party Funds (DPK) also increased 91.8 percent to Rp55 trillion, with the CASA portion reaching 58.9 percent as of June 2025.

Meanwhile, net profit was recorded at IDR 401 billion, up 8.3 percent year on year (yoy), with a net interest margin ratio of 3.7-3.8 percent and maintained asset quality.

Regarding capital needs, Nixon said, BTN needed additional capital so that BSN had a healthy structure after the spin off. Currently, initial capital of around IDR 1.5 trillion has been prepared through the acquisition of BVIS as a transformation vehicle.

With an asset projection of around IDR 70 trillion and financing of IDR 50 trillion by the end of 2025, BTN estimates that BSN needs a core capital of around IDR 6 trillion to maintain a capital adequacy ratio (CAR) equivalent to its parent bank.