JAKARTA - President Director of PT Bank Tabungan Negara (Persero) Tbk (BBTN) Nixon LP Napitupulu admitted that the weakening of the rupiah that has occurred recently has not had a major influence on BTN.
The reason is that BTN is a bank that plays a more important role by providing financing for Home Ownership Loans (KPR).
"BTN is almost 100 percent rupiah, there is no mortgage in US dollars. So the change in currency has not had an immediate impact," Nixon told the media, Wednesday, April 15.
According to Nixon, BTN will feel a greater impact if the government raises the interest rate on bank loans.
For this reason, he continued, the exchange rate change does not directly affect the performance and credit disbursed.
"BTN is more sensitive to interest rates, not exchange rates. Currency can have an impact on interest rates, but when no one knows," he said.
To overcome the impact of the weakening rupiah, continued Nixon, each bank has calculated risk and resilience test scenarios.
"Every bank must have anticipated it. They have stress tests," said Nixon.
Previously, money market observer Ibrahim Assuaibi, assessed that market sentiment was under strong pressure due to the failure of peace negotiations between the United States and Iran.
He added that the failure triggered further steps from the US, where President Donald Trump stated that the US Navy would begin a blockade in the Strait of Hormuz, following the failure to reach an agreement after long negotiations.
This condition also increases the risk of the continuation of the ceasefire which had previously lasted for two weeks.
The United States Central Command announced that the blockade would begin at 10 a.m. ET on Monday, covering all sea traffic entering and leaving Iranian ports.
This policy is applied comprehensively to ships from various countries operating in the Iranian port and coastal areas, including the Arabian Gulf and the Gulf of Oman.
"US forces will not impede freedom of navigation for ships crossing the Strait of Hormuz to and from non-Iranian ports, and additional information will be provided to commercial sailors through official notifications before the start of the blockade," he said.
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