BTN Decides To Distribute Dividends Of IDR 751.83 Billion, Equivalent To IDR 53.57 Per Share Sheet

Photo: Doc. BTN

JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT Bank Tabungan Negara (Persero) Tbk approved the distribution of dividends for the 2024 financial year. In the meeting, the dividend distribution of IDR 751.83 billion was approved.

The dividend distribution value is equivalent to Rp53.57 per share to be distributed in the form of dividends to shareholders, namely the Government of the Republic of Indonesia at 60 percent and the public at 40 percent.

BTN posted a net profit of IDR 3 trillion in 2024. The dividend distribution is 25 percent of the total net profit. Meanwhile, the remaining 75 percent of the net profit is designated as retained earnings to strengthen the capital structure and encourage future business development.

President Director of BTN Nixon LP Napitupulu said the distribution of dividends for the 2024 financial year is BTN's commitment to increase contributions to the government, as well as the company's efforts to increase shareholders value to investors.

"Giving dividends of 25 percent will still be able to maintain the company's capital ratio by 2025 above regulatory requirements. With the distribution of these dividends, BTN hopes that investor support for BTN will be more solid," said Nixon after the AGMS for the 2024 Fiscal Year, at Menara I BTN, Harmoni, Central Jakarta, Wednesday, March 26.

Regarding removing collections, the BTN AGMS also approved the abolition of collection of the company's bad debts which had been deleted in the amount of Rp318 billion. In addition to having deleted the book, the number of ceilings (limits) to delete the collection will remain valid until the GMS has determined a new ceiling.

"Deleting collections is carried out based on the Company's Articles of Association which its implementation is in accordance with applicable policies and procedures in the company by taking into account the provisions of the legislation," said Nixon.

At the end of 2024, the company recorded lending and financing reaching IDR 357.97 trillion, an increase of 7.3 percent year-on-year (yoy). Meanwhile, the acquisition of third party funds (DPK) at the end of 2024 reached IDR 381.67 trillion or grew 9.1 percent yoy.

With growth on the credit side and DPK, the company recorded total assets of IDR 469.61 trillion at the end of 2024, up 7.03 percent compared to the previous year.

This year, Nixon said, BTN's assets will reach Rp500 trillion which will be supported by credit and financing growth of around 7 to 8 percent yoy, and DPK is targeted to grow 8 to 9 percent yoy.

"With the support of our consistent business strategy and transformation, BTN remains optimistic in growing its business, especially providing access to financing to the public to be able to have a dream home, and still apply the principle of prudence in the midst of various challenges," concluded Nixon.