PT Bank Tabungan Negara (Persero) Tbk (PT Bank Tabungan Negara (BTN)) signed two portfolio transfer agreements with PT Bank SMBC Indonesia Tbk (SMBCI) covering pension, pre-pension, and payroll-related loans valued at nearly Rp20 trillion (22/05).

The agreements consist of a Conditional Portfolio Transfer Agreement (CPTA) and a Conditional Loan Asset Transfer Agreement (CLATA). The transaction was later disclosed to the Financial Services Authority (Otoritas Jasa Keuangan (OJK)) on 25 May 2026.

CPTA Covers Rp12.58 Trillion Pension and Pre-Pension Loans

Through the CPTA scheme, BTN will acquire a pension and pre-pension loan portfolio valued at approximately Rp12.58 trillion.

The portfolio is managed under pension benefits from TASPEN and forms part of the bank’s retail credit expansion strategy.

CLATA Adds Rp7.34 Trillion Payroll and Government Employee Loans

Under the CLATA agreement, BTN will acquire Rp7.34 trillion in additional credit assets.

The portfolio includes loans linked to pension services under ASABRI, other pension funds, and payroll loans for active employees of state-owned enterprises and government institutions.

Transaction Supports BTN Beyond Mortgage Transformation

BTN stated that the transaction supports its strategy to expand beyond mortgage lending into broader retail financial services.

Corporate Secretary Ramon Armando said the bank is strengthening its presence in payroll loans, pension financing, and transactional banking as part of its transformation.

He added that the pension and payroll segments provide relatively stable repayment characteristics that support sustainable growth.

Deal Structured Under Prudent Banking and OJK Disclosure Rules

BTN confirmed that the transaction follows prudent banking principles and complies with applicable regulatory requirements.

The bank stated the deal is not an affiliated transaction and does not involve conflicts of interest under OJK regulations.

Completion will depend on fulfillment of agreed conditions, and the CPTA and CLATA transactions may be finalized separately depending on readiness.

PHOTO: BTN

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