In The 2020-2024 Period, BTN Assets Grow 26.13 Percent To IDR 455.6 Trillion

BTN (Photo: Antara)

JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BBTN) recorded assets growing 26.13 percent from IDR 361.20 trillion in 2020 to IDR 455.60 trillion in the first semester of 2024 when conditions were challenging due to the pandemic and global economic pressure in the last five years.

"Over the last five years, BTN has continued to improve itself and carry out transformations in various aspects, including business, operations, technology, culture, and human resources," said BTN Corporate Secretary Ramon Armando quoting Antara.

The transformation aims to improve performance and strengthen business quality so that the company can create better and more sustainable growth in the future, as well as provide added value for stakeholders.

Ramon said that transformation and innovation are the keys to strengthening the company's performance, especially in meeting people's needs for financial services, including mortgages. With this transformation, BTN not only strengthens housing financing but also expands to other business lines.

The increase in BTN assets was also driven by lending and sharia financing which has advanced over the past five years. As of Semester I-2024, BTN's credit and financing were in the position of IDR 352.06 trillion, an increase of 35.35 percent from IDR 260.11 trillion at the end of 2020.

The increase in the intermediation function is in line with BTN's commitment to become a financial partner that is relied on for stakeholders in the housing ecosystem by providing comprehensive solutions in terms of supply and demand. The rate of lending and financing has also increased, supported by digital optimization, which makes it easier for customers to access banking services.

The performance of lending and financing also maintains the position of BTN as the leader of the KPR market in Indonesia with a market share of around 40 percent. Through lending, BTN also mobilized 181 sub-sectors of the economy and more than 7,000 housing developers and 3,000 notaries have partnered with the company.

In Indonesia, BTN is the only bank that has the largest portfolio in the housing sector, which is 85 percent of its total credit and financing disbursed to the sector. BTN has also disbursed credit and financing for 5.2 million housing units since 1976.

"The BTN performance is also in accordance with BTN's mission, which is to actively support the government in advancing the welfare of the Indonesian people, especially those who are low-income, through livable and affordable housing ownership," Ramon said.

In addition to supporting the distribution of subsidized mortgages, BTN is proactive in providing ideas and input to the government so that the subsidized housing program can run well and be more targeted.

One of the efforts made and currently still ongoing is to design a new subsidy scheme to be more effective enjoyed by people in need and not burden state finances.

In the past year, BTN has expanded its non-subsidized mortgage expansion to the emerging affluent segment or upper middle class to provide sustainable growth.

BTN sharpens the strategy to be able to serve the non-subsidized KPR segment better through the establishment of a sales center, which has the ability to capture demand in that segment.