BTN Prepares IDR 6 Trillion Funds For The Sharia Business Unit Spin Off Next Year

Illustration (Photo: Doc Antara)

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk or BTN is preparing to separate or spin off the Sharia Business Unit (UUS) or BTN Syariah.

Funds prepared for the process are around Rp. 1.5 to Rp. 6 trillion.

President Director of BTN Nixon LP Napitupulu revealed that the spin off of BTN Syariah is included in the list of corporate actions for the company which will be carried out in the first half of 2025.

"We are also preparing a spin off UUS of IDR 1.5 to IDR 6 trillion in total capital so that he doesn't go down to BUKU I. We hope he stays in BUKU II," Nixon said in a Hearing Meeting with Commission VI of the DPR RI, at the Parliament Complex, Jakarta, Monday, July 8.

Nixon explained that the BOOK in question is a category of Commercial Bank Business Groups (BUKU), where BUKU II indicates that BTN Syariah's position is maintained in a good position.

The performance of BTN Syariah, he continued, so far has been quite good.

This is reflected in assets that grew 17.9 percent to IDR 55 trillion as of March 2024. Then, financing grew 20 percent to IDR 39 trillion.

Furthermore, continued Nixon, third party funds (DPK) grew 20.3 percent or reached Rp43 trillion.

Also, net profit reached IDR 164 billion or grew 56.1 percent on an annual basis.

"DPK is also growing much better than its parent (BTN), which is 20 percent. Then the net profit is good 56 percent," he explained.

According to Nixon, the transformation carried out in BTN Syariah has succeeded in boosting the company's performance to become more positive.

Then, BTN Syariah has a clear consumer target and is able to grow well.

"We are very happy because they grow organically very well and indeed target the housing and consumer financing segment as well," he said.