Fajarasia.co – PT Bank Tabungan Negara (Persero) Tbk contributed from the housing finance sector in obtaining SOEs’ net profit which shot up to 1,000 percent in 2021.
In addition to achieving a net profit, BTN’s positive performance has also provided a breath of fresh air to the housing sector, which has a multiplier effect on 174 other sectors.
President Director of BTN Haru Koesmahargyo in a statement in Jakarta, Monday, said that in the midst of the pandemic wave that has not subsided in 2021, the positive performance achievement was also driven by the efficiency and transformation carried out by the company in line with the direction of the Ministry of State-Owned Enterprises (BUMN).
“Not only net profit, as the market leader in the housing loan sector, Bank BTN’s positive performance has also boosted the housing sector which has a double impact on 174 other derivative sectors,” Haru said in a release, Monday (13/6/2022).
Until the end of 2021, the banking issuer with the stock code BBTN recorded a net profit of Rp. 2.37 trillion, up 48.3 percent on an annual basis (year-on-year/yoy). In the midst of the pandemic, BTN also recorded lending and financing worth IDR 274.83 trillion, up 5.66 percent (yoy).
Loans in the housing sector still dominate BBTN’s loan portfolio or 89.08 percent. Subsidized housing loans (KPR) were also recorded as the highest contributor to growth with an increase of 8.25 percent (yoy) from IDR 120.72 trillion in 2020 to IDR 130.68 trillion in 2021.
For subsidized mortgage products, BTN offers a low down payment of 1 percent, a fixed interest rate of 5 percent, a term of up to 20 years, a down payment assistance subsidy of IDR 4 million, and free insurance premiums and VAT.
Meanwhile, BTN also continues to carry out transformations both on the digital side, business processes, and branch offices. On the digital side, for example, the company continues to polish its digital banking products, ranging from BTN Mobile Banking, BTN Cash Management, BTN e-Mitra, BTN Properti, to Rumahmurahbtn.
On the business process side, BTN has established a center for consumer and commercial credit to make it more efficient. In addition, BTN also focuses on transforming branch offices that prioritize sales and service.
In addition, BTN also continues to increase partnerships with various other institutions. The Company also deepens partnerships with companies that are included in the supply chain in the housing sector.
Haru also explained that the transformation was not only successful in increasing BTN’s net profit, but also increased efficiency. The cost of BTN funds, for example, succeeded in decreasing 21.31 percent (yoy) in 2021 from Rp. 16.04 trillion to Rp. 12.62 trillion. The company’s Operating Expenses to Operating Income (BOPO) also fell to 233 basis points (yoy) in 2021.
Bank BTN’s sharia business line also recorded a positive performance. As of December 2021, Bank BTN’s Sharia Business Unit (UUS) generated a net profit of IDR 185.2 billion, an increase of 37.33 percent (yoy). The increase was contributed by the performance of sharia financing distribution worth IDR 27.55 trillion, up 9.93 percent (yoy).
To improve the performance of credit distribution and BBTN financing, especially in the housing sector, the Ministry of SOEs said it would add capital to BTN.
Deputy Minister II of BUMN Kartiko Wirjoatmodjo said the injection of funds in the form of State Capital Participation (PMN) would be allocated worth Rp. 2.98 trillion for Bank BTN.
According to Tiko, the government wants BTN’s capital adequacy ratio to reach 19 percent, which requires an additional capital injection of Rp. 2.98 trillion, which has been approved through a capital increase mechanism through Pre-emptive Rights (HMETD) or a rights issue which may be held in the third quarter or fourth quarter. This year.
Director of Research and Investment of PT Pilarmas Investindo Sekuritas Mazimilianus Nico Demus said the additional capital would accelerate Bank BTN’s performance going forward. BTN is considered to be free to expand, especially those that can increase housing financing to the low-income and millennial segments of society.****
