BTN Explores Offers To Acquire Sharia Commercial Banks

Photo: Doc. Antara

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BTN) conducted an assessment with several existing Islamic banks and continued to communicate to get the best offers to acquire Islamic Commercial Banks (BUS).

"There are already several banks that we have explored and carried out NDA, the process is still ongoing. We hope to get the best agreement for the BTN Syariah spin off process," said BTN Risk Management Director Setiyo Wibowo in a written statement, quoted from Antara, Thursday, August 24.

Setiyo said the process of separating or spin off his sharia business unit, BTN Syariah, to be used as a BUS until now continues by reviewing options that can be carried out easily and quickly. The acquisition process is expected to be carried out by the end of 2023 or early 2024.

There are three options, namely setting up a new company or requesting a new license for BUS, acquiring existing BUSes to be used as BTN Syariah shells, currently examining in-depth the most efficient possibility for BUS acquisition.

"We seriously want to spin off BTN Syariah, which currently has a very good performance. With a spin off and become a BUS, we are optimistic that the performance of BTN Syariah will be more positive and contribute more to sharia financing, especially home financing for small communities," he said.

Currently, there are about 12 BUSes that stand in Indonesia. Of the 12 BUSes include Bank Mega Syariah, BCA Syariah, Bank Panin Dubai Syariah, Bank Net Syariah, Bank Muamalat, BTPN Syariah, Bank Victoria Syariah, BJB Syariah, Permata Bank Syariah, Bank NTB Syariah and Bank Syariah Bukopin.