JAKARTA - PT Bank Tabungan Negara (Persero) Tbk (BTN) has signed two transfer agreements on pension loans, pre-retirement loans, and active employee loans for state-owned enterprises or government institutions owned by PT Bank SMBC Indonesia Tbk (SMBCI). The transaction was carried out as part of the company's strategic steps to expand the national retail business base in line with the transformation into a bank beyond mortgage.
The signing was carried out on May 22, 2026 through the Conditional Portfolio Transfer Agreement (CPTA) and Conditional Loan Asset Transfer Agreement (CLATA) schemes, which were each submitted through information disclosure to the Financial Services Authority (OJK), Monday, May 25.
BTN Corporate Secretary Ramon Armando said the move was part of the company's strategy to strengthen sustainable business growth while still prioritizing the principles of prudence and good corporate governance.
"This transaction is part of BTN's transformation into a bank beyond mortgages, where the company is not only focused on housing financing, but also expanding the financial services ecosystem through strengthening the payroll loan, pension, and transactional banking segments," said Ramon in a written statement.
In the CPTA transaction, BTN will acquire a portfolio of loans to retirees and pre-retirees with retirement benefits managed by TASPEN with an estimated value of IDR 12.58 trillion. Meanwhile, through the CLATA transaction, BTN will acquire loan assets related to ASABRI retirees, other pension funds, and active employee loans from both state-owned enterprises and government institutions with an estimated value of IDR 7.34 trillion.
According to Ramon, the pension and payroll loan segments have relatively stable payment characteristics so that they can become a source of sustainable growth for the company. In addition to strengthening the credit portfolio, the transaction also opens up opportunities for increasing cheap funds, customer transactions, and optimizing the BTN service ecosystem in various regions of Indonesia.
BTN projects that the transaction will have a positive impact on the company's future business growth through an increase in total assets and credit portfolio.
"This step is also in line with BTN's strategy to build a wider and more inclusive financial ecosystem, as well as strengthening the company's position as a bank in the consumer segment with increasingly complete services for the community," said Ramon.
Ramon continued, BTN ensures that all transaction processes are carried out in accordance with regulator provisions and remain subject to the principle of prudent banking. The company also emphasizes that the transaction is not an affiliate transaction and does not contain conflicts of interest as regulated in the POJK regarding affiliate transactions and conflicts of interest.
In addition, the completion of the transaction will be carried out after all preliminary conditions stipulated in the agreement are met by each party. BTN also emphasized that the CPTA and CLATA transactions are stand-alone transactions and can be completed at different times.
"Through this strategic step, BTN is optimistic that it can continue to strengthen business growth while expanding access to financial services for the Indonesian people," concluded Ramon.
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