BTN Collects Third Party Funds Of IDR 349.93 Trillion

Illustration of Rupiah (Photo: Antara)

JAKARTA PT Bank Tabungan Negara (Persero) Tbk (BBTN) throughout 2023 managed to raise third party funds (DPK) of IDR 349.93 trillion, or an increase of 8.7 percent compared to 2022 which amounted to IDR 321.93 trillion.

President Director of BTN Nixon LP Napitupulu said that of this amount, the contribution of low-cost funds or Current Account Savings Account (CASA) reached Rp188 trillion, an increase of 20.4 percent compared to 2022 which amounted to Rp156 trillion.

"With this increase, the composition of BTN cheap funds reached 53.7 percent of the total DPK," in his official statement, Monday, February 12.

Nixon said the significant increase in low-cost funds in the form of demand deposits and savings in BTN was seen over the past five years. In 2019, the portion of BTN's low-cost funds was still at the level of 43.4 percent and slowly rose to 48.5 percent in 2022.

"The transformation into a savings bank that we have initiated since 2019 has yielded results in 2023. The portion of cheap funds which reached almost 54 percent is the highest in the history of BTN," he said.

According to Nixon, the increase in low-cost funds was also supported by the digital banking transformation carried out by BTN, especially in the BTN Mobile application. By the end of 2023, the number of BTN Mobile users reached 2.7 million, with a total transaction of 235 million.

Nixon added that the company was able to attract more BTN Mobile users along with the addition of new features that allow users to make more transactions.

The decline in transactions at BTN Mobile also boosted the company's fee-based income (FBI) growth by 60.1 percent to IDR 3.2 trillion in 2023 from IDR 2 trillion in the previous year.

BTN wants to continue to create a sustainable value chain in the digital ecosystem, especially on business cores in the field of mortgages. We will continue to add partners and services in BTN Mobile to make it easier for our prospective customers and existing customers to transact for their daily needs, including their home assets," said Nixon.

Overall, with total credit disbursement and significant growth in DPK, BTN was able to record total assets of IDR 439 trillion throughout 2023, an increase of 9.1 percent compared to 2022 of IDR 402 trillion.

"Bank BTN has succeeded in maintaining momentum for business growth throughout 2023 by improving strategies in a sustainable manner and by prioritizing the principle of prudence," he said.

Nixon said he was committed to continuing to improve the quality of growth in line with our vision to become The Best Mortgage Bank in Southeast Asia by 2025.

"In line with this vision, BTN, which has reached the age of 74, wants to continue to increase its real contribution to reducing the housing backlog in Indonesia, which is currently still 12.7 million," said Nixon.