20th Anniversary Of BTN Syariah Becomes Momentum For The Formation Of BUS BTN

JAKARTA - After two decades of operation, BTN Syariah, the BTN Sharia Business Unit will move towards a new era such as the Sharia Commercial Bank (BUS). During its operation, BTN Syariah played an important role in the growth of its parent company and contributed to the national housing sector by opening access to sharia-based housing financing to the community.

President Director of BTN Nixon LP Napitupulu said that BTN Syariah has become a major player in the Indonesian property sector by controlling 28 percent of the market share of sharia-based housing financing nationally as of October 2024.

"For 20 years, BTN Syariah has become one of the growth engines for BTN with its focus on serving people who need housing financing based on Islamic sharia. Every year, BTN Syariah records rapid business growth and has now reached an adult age who is ready to go further to serve more people who need decent and affordable housing. It is time for BTN Syariah to go to the next level by becoming a commercial Islamic bank," said BTN President Director Nixon LP Napitupulu as released by VOI.id editor, Friday, February 14, 2025.

Various achievements of BTN Syariah for two decades have further strengthened the foundation of the Sharia Business Unit to step into a new chapter into a general Islamic bank through strategic initiatives in the form of a spin-off process that has been planned to be completed before 2025 ends. "We believe that by becoming a general bank of sharia, BTN Syariah can improve the quality of Islamic financial services to the public," said BTN Consumer Director Hirwandi Gafar.

Meanwhile, in terms of funding, BTN Syariah will increase engagement to the Muslim community to raise third party funds and low-cost securities account (CASA). With the increase in low-cost DPK, Hirwandi said, BTN Syariah will have greater ammunition for financing expansion with a cheaper margin rate.