JAKARTA. PT Bank Tabungan Pensiunan Nasional Tbk (BTPN), after merging with PT Bank Sumitomo Mitsui Banking Corporation Indonesia (SMBCI), will focus on being a universal bank and determined to become a Qualified ASEAN Bank (QAB).
A QAB status can be obtained by national banks as capital increases and the status of BTPN becomes BUKU IV, which gets the same treatment as local banks when expanding to other ASEAN countries. A QAB also gets concessions in terms of market access and operational coverage licensing. BTPN is determined to be present in the Philippines, Malaysia, and other ASEAN countries.
BTPN CEO Ongki Wanadjati said BTPN is targeting to become a Commercial Bank (BUKU) 4 or with more than Rp 30 trillion in capital by 2021 by relying on additional capital from the organic side, namely retained earnings
After the merger, said Mr Wanadjati, he wanted the bank to focus on becoming a universal bank. This means that BTPN directs businesses in various segments from corporations, middle to retail with a composition (of the total portfolio) of corporate business 45%, retail banking 45%, and medium 10%.
After the merger, BTPN's assets soared to Rp 189.9 trillion, making the BTPN Bank Indonesia's 8th largest bank in terms of assets. The company's total equity was also recorded to soar from before the merger of Rp 19.4 trillion to Rp 28 trillion after the effective merger. (AM/MS)