Officially Become A Kustodian Bank, BTN Targets Fund Management Of IDR 12 Trillion In The First Year

Photo: Doc. Antara

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk or BTN has officially become a custodian bank and targets to be able to manage funds from institutional customers who use custodial services of around IDR 12 trillion in the first year.

For information, closing 2022, BTN officially received approval from the Financial Services Authority (OJK) on November 17 to expand its service line in the banking sector by becoming a custodian bank.

"We also hope that there will be an increase in bank revenue beyond revenue from lending or fee-based income, where custodial services will contribute around Rp3.6 billion in the first year and can penetrate Rp7 billion in the next 5 years," said Deputy President Director of BTN Nixon LP Napitupulu in a written statement, quoted from Antara, Tuesday, December 27.

Nixon is committed to providing fast, precise, and accurate services to customers who use custodial services supported by human resources, infrastructure, and quality custodial systems.

"BTN as a supporting institution in the capital market acts as trustee for institutions that issue bonds and monitoring agents for companies that issue Medium Term Notes (MTN) and BTN have also acted as bank administrators for Customer Fund Accounts," said Nixon.

Meanwhile, President Director of PT Kustodian Sentral Efek Indonesia (KSEI) Uriep Budhi Prasetyo said that cooperation with BTN as a KSEI account holder is one of the efforts to expand the capital market network to the public.

"The merger of BTN as KSEI account holders is expected to further facilitate the administrative and securities storage processes, or in other words make it easier for investors to be able to invest in the capital market," said Uriep.

He also hopes that the joining of BTN as a KSEI account holder can facilitate the administrative and securities storage processes, or in other words make it easier for investors to be able to invest in the capital market.

"Cooperation with Bank BTN as a KSEI account holder has increased the number of custodian banks to a total of 24 banks," said Uriep.

According to him, this step is in line with the increase in the number of capital market investors which have reached 10.24 million investors by December 16, 2022, or an increase of 36.7 percent yoy compared to the same period last year.