BTN Disburses Rp2 Trillion Loans To Bumi Serpong Damai Owned By Conglomerate Eka Tjipta Widjaja

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BTN) has disbursed a corporate loan of Rp2 trillion with a tenor of 84 months to property developer belonging to the late Eka Tjipta Widjaja conglomerate, PT Bumi Serpong Damai Tbk (BSD) or BSDE.

The signing of the credit agreement was carried out by Deputy President Director of Bank BTN, Nixon LP Napitupulu and Director of BSDE Lie Jani Harjanto in BSD, Monday, October 25.

Deputy President Director of Bank BTN Nixon said the collaboration with BSDE in particular provided benefits for both parties in synergizing in building the property sector in the midst of the shock of the pandemic that has been going on for two years.

"As a bank with a main focus on the housing sector, we support property stakeholders, including developers such as BSDE, to remain expansive during the ongoing economic recovery," he said after the signing of the cooperation.

Nixon added that the bank with the stock code BBTN is optimistic that the credit facilities provided by BSDE will be more expansive in building quality property projects. BSDE is a public company that is part of the Sinarmas Group and has more than 37 years of experience in the property sector with the largest assets, equity, land bank, and operating cash flow in Indonesia.

To date, Sinarmas Group has obtained a BTN credit limit of Rp3.5 trillion.

"We are embracing all developers in Indonesia, both subsidized and non-subsidized housing to jointly build a housing ecosystem in Indonesia in accordance with Bank BTN's vision to become The Best Mortgage Bank in South East Asia by 2025," said Nixon.

To achieve this target, Bank BTN expands lending not only in the consumer credit segment, but also selectively disburses corporate loans to companies that are prospective and relevant to the company's main business. Based on BBTN records, from January to September 2021, corporate loans that have been distributed by the company have reached Rp4.70 trillion.

"We have distributed corporate loans to several segments with the majority in infrastructure, high rise buildings, and landed houses," concluded Nixon.

This corporate lending shows the existence of Bank BTN in carrying out the intermediation function. Nixon said the company targets the distribution of corporate funds by the end of this year to around Rp11 trillion.

In addition to disbursing corporate loans with BSDE, on the same occasion, Bank BTN also signed a banking service cooperation agreement. Nixon hopes that BTN can become BSDE's main partner in providing complete and comprehensive banking products and services, including BTN Solutions, Home Ownership Loans or KPR, cash management, and so on.