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Page 1
HUMAN
CAPITAL



370   PT Bank Tabungan Negara (Persero) Tbk
Page 2
As an effort to improve Human Capital management
technology which is included in the Human Capital strategic
initiative until 2025, in 2023 the HC Technology transformation
process will begin by developing a cloud-based Human Capital
Information System (HCIS).




                      PT Bank Tabungan Negara (Persero) Tbk   371
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                                         Human
                                         Capital




Human Resources
Development Work Program




In order to realize “One of Homes of Indonesia’s Best Talent”,      1. Become the first choice for the best talent to work by
the Human Resources (HR) development work program in the               improving the recruitment and onboarding process which
short and medium term has been aligned with the 2021-2025              provides an employee experience with a reward system to
Corporate Plan. The Medium Term Plan for Human Resources               motivate and to being competitive in the market, as well as to
(HR) has a big goal, namely that Bank BTN is able to attract and       activate the Company’s Employee Value Proposition.
retain the best Indonesian talent who have superior capabilities    2. Strengthen HR capabilities, productivity and competitiveness
with a high level of productivity to achieve the Company’s             through improving employee capability strengthening
strategic goals and business targets.                                  programs, interventions to support a learning culture,
                                                                       consistent implementation of coaching, and implementation
In order to realize Bank BTN’s Human Capital Endstate, 4 (four)        of productivity measures in workforce planning and
Endstate dimensions have been formulated as the parameters             performance management.
for success in achieving the “One of Homes of Indonesia’s Best      3. Focus on creating value and becoming a business partner
Talent” condition, namely:                                             through organizational alignment to encourage business
a. Ability to Attract Top Talent, namely Bank BTN is one of the        partner functions, implementing digital HR to support
     top of mind employers for external candidates from leading        operational excellence and decision making, as well as
     companies and universities in Indonesia.                          implementing internal corporate culture.
b. Ability to Retain Top Talents, namely Bank BTN is able to
     retain top talents to continue working and developing with     Specifically in 2023, the Human Capital (HC) strategy focused
     Bank BTN.                                                      on Business Partnering and Talent Development which consisted
c. Talents’ Capability Readiness, namely Bank BTN has the           of:
     capabilities needed to achieve the Bank’s strategic goals in   1. Developing the HCBP organizational structure into a separate
     the present and future.                                            Division to align HC strategy with Business and answer the
d. Employee Productivity, namely the productivity of Bank BTN           Company’s needs, which were divided into:
     employees is above the average of well-known organizations.        • Wholesale, Consumer Banking & Finance sectors
                                                                        • HCBP IT & Operations field
To achieve the Endstate dimension parameters, 3 (three)                 • HCBP Distribution & Funding Sector
Strategies and 14 Strategic Initiatives have been prepared,             • HCBP Risk Management Sector
namely as follows:




372         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




2. Further improvements to increase operational excellence and        7. Implementing integrated performance management principles
   HR management practices.                                               and governance and apply multi-source performance
3. Implementing a systematic productivity measurement                     assessments to ensure overall objectivity.
   methodology and matrix for the business and support                8. Activating 4 (four) EVP Pillars - Learn, Grow, Contribute and
   segments.                                                              Engagement in encouraging increased branding of Bank
4. Implementation of predictive and productivity-based                    BTN.
   workforce planning.                                                9. Implementing a multi-sourcing strategy and running
5. Sharpening learning strategies, applying coaching                      an onboarding program for new recruits and internal
   consistently, and carrying out interventions to support a              movements.
   learning culture.                                                  10. Implementing an integrated HCIS to support operational
6. Carrying out succession management to ensure the fulfillment           excellence, data-based decision making, and provide a
   of key/critical positions and closing the generation gap.              seamless employee experience.




Human Capital
Management Policy and Implementation

Recruitment

Policy                                                                Recruitment Implementation

Bank BTN has various recruitment channels that provide                During 2023 recruitment of people with disabilities have been
opportunities for various levels of society to join Bank BTN.         carried out. This program is a program from the Ministry of SOE
Provisions regarding recruitment are regulated in Special Policy      through the Indonesian Human Capital Forum (FHCI) and found
No. KK3.A dated October 31, 2023 concerning the Human                 4 (four) employees with disabilities. Meanwhile, in 2024, the
Capital Cycle, and in detail in Technical Instructions No. 3-A.11     recruitment target is for 10 (ten) new employees with disabilities.
dated October 31, 2023 concerning Recruitment and Selection.          During 2023, 584 employees have been recruited, consisting of
Employee recruitment in 2023 will be carried out through              226 men and 358 women.
various external and internal recruitment channels to ensure that
employees in work units are fulfilled according to the number         The strategies and programs carried out for recruitment in 2023
and capability requirements. Recruitment implementation at the        included:
Company has implemented gender equality and opportunities             Campus/University Hiring
for people with disabilities. As a form of improvement in the         • Job Career UI
employee fulfillment timeline, recruitment for employee needs in      • Job Career Unhas
2024 has been carried out since 2023, so that the employee            • Job Career UGM
deployment process will be carried out in early 2024 to support       • Job Career Unair
business acceleration in 2024.                                        • Job Career UNS
                                                                      • Sourcing Best Alumni from Top Ten Univ
In accordance with the provisions of Technical Instructions No.       • Pre Graduate Scholarship (UI, UGM, Unair, ITB)
3-A.11 concerning Recruitment and Selection also regulates the        Seminar/Workshop
recruitment of Disabled Persons, namely the type of disability        • Workshop Career UGM
that meets the criteria for disabled employee candidates, namely      • Workshop Career ITB
temporarily the type of Physical Impairment (mild) and Speech         • Workshop Career UNAIR
Impairment, however, it does not rule out the possibility of          Social Media Recruiting
determining other types of disability in the next recruitment while   • Open Recruitment Business ODP
preparing appropriate accommodation and facilities that are           • Open Recruitment Frontliners
easily accessible to employees with disabilities.                     • Open Recruitment Thematic ODP
                                                                      • Open Recruitment Experienced and Prohire




                                                                          PT Bank Tabungan Negara (Persero) Tbk                   373
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                                                  Human
                                                  Capital




Referral Program                                                             • GBS Telkom Career Day
Pro Hire recruitment in specialist areas such as IT, Digital Banking,        • Regular GBS
Wholesale Transaction, Personal Banking, Treasury, Wealth                    • GBS Talent Scouting UB
Management and Non-Subsidized Mortgage.                                      • GBS Talent Scouting UGM
Cooperation and Partnership with StakeHolders                                • GBS Talent Scouting USU
• Joint Recruitment with SOEs (FHCI)                                         • GBS Job Fair UNHAS
• Digiers Day Minister of Communication and Information                      • GBS Job Fair UI
• LPDP Collaboration                                                         • GBS Job Fair Unpad
• Indonesia Career Excellence – English/UK                                   • GBS Job Fair UB
• Head-Hunter cooperation                                                    • Regular GBS RBB
• LinkedIn collaboration                                                     • GBS RBB Disability
Talent Scouting                                                              • Transfer of Sales Service Awards Winner Status (BSS)
• Talent Scouting Universitas Sumatera Utara (USU)                        d. Officer Development Program (ODP)
• Srikandi BTN Universitas Trisakti                                          • ODP Risk Management
• Talent Scouting Institute Teknologi Bandung (ITB)                          • ODP Auditor
                                                                             • ODP Business Banking
For the recruitment pathways carried out in 2023, namely:                    • ODP Business Enabler
a. Teller Service (TS)                                                       • ODP IT
b. Customer Service (CS)                                                     • ODP Wholesale & Finance
c. General Banking Staff (GBS)                                            e. Experienced/Pro Hire
    • GBS FHCI
    • GBS Transfers ODP Status




The recruitment realization for 2023 is as follows:


  No.                                             Recruitment Line                                           Amount
   1.     Frontliner                                                                                           244
            a.     Customer Service Staff Batch 1                                                               99
            b.     Teller Service Staff Batch 1                                                                 85
            c.     Customer Service Staff Batch 2                                                               39
            d.     Teller Service Staff Batch 2                                                                 21
   2.     General Banking Staff                                                                                237
            a.     GBS FHCI                                                                                     15
            b.     GBS Transfers ODP Status                                                                     21
            c.     GBS Telkom Career Day                                                                        12
            d.     Regular GBS                                                                                 105
            e.     GBS Talent Scouting UB                                                                        8
            f.     GBS Talent Scouting UGM                                                                       4
            g.     GBS Talent Scouting USU                                                                       8
            h.     GBS Job Fair UNHAS                                                                            8
            i.     GBS Job Fair UI                                                                               9
            j.     GBS Job Fair Unpad                                                                           16
            k.     GBS Job Fair UB                                                                               7
            l.     Regular GBS RBB                                                                              15
            m.     GBS RBB Disability                                                                            4
            n.     Transfer of Sales Service Awards Winner Status (BSS)                                          5
   3.     Officer Development Program                                                                           67
            a.     ODP Regular Business Sector                                                                  62
            b.     Pre-Graduate Scholarship                                                                      4
            c.     ODP LPDP Scholarship                                                                          1
   4.     Experienced/ Pro-Hire Hiring                                                                          36
                                                   TOTAL                                                       584




374          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                    2023 Annual Report




Competency Development                                                       learning model (10% formal learning, 20% learning from others
                                                                             and 70% learning from doing).
Policy
                                                                             The learning and development referred to is provided to
Developing hard skill and soft skill competencies becomes part               employees starting from the phase when employees are newly
of the Human Capital cycle guidelines in managing Human                      placed in a position until they are projected to the position above
Resources in accordance with Special Policy No. KK.3-A dated                 them. In this case, every employee gets the same opportunities in
October 31, 2023 concerning the Human Capital Cycle. Every                   the field of learning and development.
employee is obliged to develop their competencies so they can
do their job well, and prepare themselves to be able to face                 Implementation of Competency Development
change and/or occupy a higher position.
                                                                             The Company carried out learning and development programs
Employee competency development is carried out through                       to meet the required competencies on an ongoing basis through
systematic learning and development programs to increase                     learning, development, special assignments as well as transfer
knowledge, skills and attitudes. The learning and development                and promotion programs. The following table shows the number
framework applies the concept of Analysis, Design, Development,              of HR development based on Position Level in the January -
Implementation and Evaluation (ADDIE) using a 10:20:70                       December 2023 period:




Table of Competency Development Based on Position Level in 2023

                                                                                                                  Percentage       Percentage
                                                                                                                    of those           that
                                                                                                   Number of
                                                                                                                   attending        attending
  No.     Type of Training                   Training Goals                         Amount         attending
                                                                                                                  the training    training for
                                                                                                  the training
                                                                                                                    for each      each type of
                                                                                                                 position level      training

   1.    DIRECTORS                                                                    10              10             100%

                             Increase insight and competence in leadership
         Leadership                                                                                   10                             100%
                             and increase career paths

         Operational         Increase employee knowledge and competence
                                                                                                       6                             60%
         Banking             in the Company's operational activities.

                             Increase employee knowledge and competency
         Sales & Service                                                                               1                             10%
                             in Sales and Service

   2.    COMMISSIONERS                                                                 8               8             100%

                             Increase insight and competence in leadership
         Leadership                                                                                    8                             100%
                             and increase career paths

         Operational         Increase employee knowledge and competence
                                                                                                       1                              13%
         Banking             in the Company's operational activities.

   3.    EXECUTIVE VICE PRESIDENT                                                     32              32             100%

                             Increase insight and competence in the field of
         Credit & Risk                                                                                15                              47%
                             Credit and Credit Risk.

                             Increase insight and competence in leadership
         Leadership                                                                                   31                              97%
                             and increase career paths

         Operational         Increase employee knowledge and competence
                                                                                                      32                             100%
         Banking             in the Company's operational activities.

                             Increase employee knowledge and competency
         Sales & Service                                                                              31                              97%
                             in Sales and Service

   4.    VICE PRESIDENT                                                               128             128            100%

                             Increase employee insight and competence in
         Business & Sharia
                             terms of sales, marketing, general knowledge                              6                              5%
         Banking
                             and so on in the Field of Sharia Banking.

                             Increase insight and competence in the field of
         Credit & Risk                                                                                66                              52%
                             Credit and Credit Risk.

                             Increase insight and competence in leadership
         Leadership                                                                                   81                              63%
                             and increase career paths

         Operational         Increase employee knowledge and competence
                                                                                                      127                             99%
         Banking             in the Company's operational activities.




                                                                                 PT Bank Tabungan Negara (Persero) Tbk                     375
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                                       Human
                                       Capital




                                                                                                      Percentage       Percentage
                                                                                                        of those           that
                                                                                       Number of
                                                                                                       attending        attending
 No.    Type of Training                   Training Goals                    Amount    attending
                                                                                                      the training    training for
                                                                                      the training
                                                                                                        for each      each type of
                                                                                                     position level      training

                           Increase employee knowledge and competency
       Sales & Service                                                                    117                            91%
                           in Sales and Service

 5.    ASSISTANT VICE PRESIDENT                                               163         163            100%

                           Increase employee insight and competence in
       Business & Sharia
                           terms of sales, marketing, general knowledge                    9                              6%
       Banking
                           and so on in the Field of Sharia Banking.

                           Increase insight and competence in the field of
       Credit & Risk                                                                      98                             60%
                           Credit and Credit Risk.

                           Increase insight and competence in leadership
       Leadership                                                                         70                             43%
                           and increase career paths

       Operational         Increase employee knowledge and competence
                                                                                          163                            100%
       Banking             in the Company's operational activities.

                           Increase employee knowledge and competency
       Sales & Service                                                                    158                            97%
                           in Sales and Service

 6.    SENIOR MANAGER                                                         200         200            100%

                           Increase employee insight and competence in
       Business & Sharia
                           terms of sales, marketing, general knowledge                   30                             15%
       Banking
                           and so on in the Field of Sharia Banking.

                           Increase insight and competence in the field of
       Credit & Risk                                                                      124                            62%
                           Credit and Credit Risk.

                           Increase insight and competence in leadership
       Leadership                                                                         125                            63%
                           and increase career paths

       Operational         Increase employee knowledge and competence
                                                                                          200                            100%
       Banking             in the Company's operational activities.

                           Increase employee knowledge and competency
       Sales & Service                                                                    192                            96%
                           in Sales and Service

 7.    MANAGER                                                               1,074       1,074           100%

                           Increase employee insight and competence in
       Business & Sharia
                           terms of sales, marketing, general knowledge                   125                             12%
       Banking
                           and so on in the Field of Sharia Banking.

                           Increase insight and competence in the field of
       Credit & Risk                                                                      737                             69%
                           Credit and Credit Risk.

                           Increase insight and competence in leadership
       Leadership                                                                         306                             28%
                           and increase career paths

       Operational         Increase employee knowledge and competence
                                                                                         1,074                           100%
       Banking             in the Company's operational activities.

                           Increase employee knowledge and competency
       Sales & Service                                                                   1,023                            95%
                           in Sales and Service

 8.    ASSISTANT MANAGER                                                     2,911       2,911           100%

                           Increase employee insight and competence in
       Business & Sharia
                           terms of sales, marketing, general knowledge                   383                             13%
       Banking
                           and so on in the Field of Sharia Banking.

                           Increase insight and competence in the field of
       Credit & Risk                                                                     1,844                           481%
                           Credit and Credit Risk.

                           Increase insight and competence in leadership
       Leadership                                                                         666                             36%
                           and increase career paths

       Operational         Increase employee knowledge and competence
                                                                                         2,877                           432%
       Banking             in the Company's operational activities.

                           Increase employee knowledge and competency
       Sales & Service                                                                   2,796                            97%
                           in Sales and Service




376       PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                              2023 Annual Report




                                                                                                                            Percentage       Percentage
                                                                                                                              of those           that
                                                                                                             Number of
                                                                                                                             attending        attending
  No.      Type of Training                          Training Goals                         Amount           attending
                                                                                                                            the training    training for
                                                                                                            the training
                                                                                                                              for each      each type of
                                                                                                                           position level      training

   9.     SENIOR STAFF                                                                        5,703            5,703           100%

                                     Increase employee insight and competence in
          Business & Sharia
                                     terms of sales, marketing, general knowledge                               748                              13%
          Banking
                                     and so on in the Field of Sharia Banking.

                                     Increase insight and competence in the field of
          Credit & Risk                                                                                        3,834                             67%
                                     Credit and Credit Risk.

                                     Increase insight and competence in leadership
          Leadership                                                                                           1,483                             26%
                                     and increase career paths

          Operational                Increase employee knowledge and competence
                                                                                                               5,703                           100%
          Banking                    in the Company's operational activities.

                                     Increase employee knowledge and competency
          Sales & Service                                                                                      5272                              92%
                                     in Sales and Service

  10.     STAFF                                                                               1,834            1,834           100%

                                     Increase employee insight and competence in
          Business & Sharia
                                     terms of sales, marketing, general knowledge                               253                              14%
          Banking
                                     and so on in the Field of Sharia Banking.

                                     Increase insight and competence in the field of
          Credit & Risk                                                                                        1,467                             80%
                                     Credit and Credit Risk.

                                     Increase insight and competence in leadership
          Leadership                                                                                            499                              27%
                                     and increase career paths

          Operational                Increase employee knowledge and competence
                                                                                                               1,834                           100%
          Banking                    in the Company's operational activities.

                                     Increase employee knowledge and competency
          Sales & Service                                                                                      1,723                             94%
                                     in Sales and Service

                                TOTAL AMOUNT                                                12,063            12,063          100%



Evaluation of Competency Development Implementation

Improving the quality and relevance of learning and development                      activities. The Company conducted evaluations which are divided
implementation to the Company’s needs was identified based on                        into 4 (four) levels of evaluation (Kirkpatrick Method), namely:
evaluation of the implementation of learning and development




         L1 - Reaction                              L2 - Learning                          L3 - Behaviour                          L4 - Result




    Evaluation from participants                                                        Evaluation to measure the            The evaluation to measure
   regarding the implementation                Evaluation of participants’               impact of learning and             the impact of learning and
   of learning and development               understanding of learning and             development of changes in           development on improving the
  of relevance and satisfaction of              development materials.                 participant behavior and its        Company’s business aspects or
             activities                                                                 application in their work.              business processes.




                                                                                         PT Bank Tabungan Negara (Persero) Tbk                      377
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                                              Human
                                              Capital




Costs of Competency Development

In 2023 the Company allocated costs competency development                  Apart from that, in 2023 the Indonesian Government officially
for registered employees increased by 10% compared to the year              lifted the Covid-19 Pandemic status to become a Covid-19 Endemic
2022, the Company determines the blended learning delivery                  period so that several learning and development programs began
method namely combining online learning and classroom so that               to be implemented again using the classroom method. The total
the implementation of learning and development became more                  cost of competency development can be seen in the following
effective and efficient in increasing added value for employees,            table:
one of which was through fulfilling the required competencies.



                    Competency development costs
                                                                                                               Growth
                         (in million rupiah)

                                                                                           In currency
                2023                                    2022                                                                      In Percent (%)
                                                                                      (millions of Rupiah)

               95,928                                86,945                                  8,983                                      10%




Career Development                                                          2. The potential aspect is seen from 2 (two) measurements as
                                                                               follows:
Policy                                                                         • Cognitive Assessment (weight 20%) which measures
                                                                                    Learning Agility Capacity which consists of learning
Career development at Bank BTN refered to the provisions of                         speed, ability to adapt to change, and ability to face
Special Policy No. KK.3-A dated October 31, 2023 Concerning                         new challenges at work.
the Human Capital Cycle. Bank BTN has 2 (two) career paths,                    • Behavioral Competency Assessment (weight 80%) which
namely a general career path and a special career path (specialist).                measures the level of effectiveness in carrying out work
General career path is a general rule that explains movement from                   related to work attitudes and personality aspects.
one position to another (from a certain Feeder Job to a certain
Target Job) which is determined based on the position layer, job            The employee talent staging is as follows:
grade, and risk of the employee’s career movement. Meanwhile,
a special career path is a career path that is created specifically to
fulfill certain positions in the Company which have certain technical
abilities/skills and/or scientific disciplines in certain fields required                                    7.
                                                                                                                                8.               9.
by the Bank’s business.                                                                      High          Solid
                                                                                                                             Perform            Star
                                                                                                         Contributor

In general, the Company has provisions regarding employee career
path patterns. The career path patterns set for all employees are
                                                                             Performance




                                                                                                               4.
                                                                                                                               5.                6.
acceleration track, fast track, middle track, normal track, moderate                       Medium             Slow
                                                                                                                             Average          Potensial
                                                                                                             Starter
track and slow track. The career pattern is determined based on
talent mapping. Talent Mapping as a basis for managing employee
careers, is carried out by grouping employees based on employee                                                                 2.               3.
                                                                                                               1.
potential and performance.                                                                   Low              Unfit
                                                                                                                               Slow            Career
                                                                                                                              Starter          Person

Employee talent mapping consisted of performance aspects and
                                                                                                              Low            Medium            High
potential aspects. The performance aspect and potential aspect
were grouped into 3 (three) criteria, namely low, medium and high.                                                    Potential

1. Performance aspects are taken based on the employee’s
   Performance Management System (PMS) assessment for 3                     Employee Career Path Patterns
   (three) years. Performance aspects are based on employee                 1. Acceleration Track: Employees as the Successor category
   performance assessments contained in the employee’s                         may have promotion opportunities in less than 1 year.
   Performance Management System (PMS) within the last 3                    2. Fast Track: Employees included in the Star and Performer
   (three) years from the time of Talent Mapping done.                         groups based on the results of Talent Mapping can be
                                                                               promoted 1 (one) year after occupying the last Person Grade.




378          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                2023 Annual Report




3. Middle Track: Employees included in the Potential group             at the BOD-1, BOD-2 and/or BOD-3 levels. The general criteria
   based on the results of Talent Mapping can be promoted 2            for TAP participants are employees with high performance, good
   (two) years after occupying the last Person Grade.                  potential, high integrity and already occupying certain positions.
4. Normal Track: Employees included in the Average group               The Talent Acceleration Program (TAP) is also the company’s effort
   based on the results of Talent Mapping can be promoted 3            to encourage eligible millennials to occupy strategic positions which
   (three) years after occupying the last Person Grade.                are prepared with various development programs to ensure a high
5. Moderate Track: Employees included in the Solid Contributor         level of readiness when employees are assigned to a particular
   group based on the results of Talent Mapping can be                 position.
   promoted 4 (four) years after occupying the last Person
   Grade.                                                              BTN Millenial Leader
6. Slow Track: Employees included in the Slow Starter group with       BTN Millennial Leader is a development program to increase
   Medium Performance and Low Potential can be promoted 5              the capacity of Bank BTN employees according to position
   (five) years after occupying the last Person Grade.                 requirements and as a form of preparation for higher levels of
                                                                       position. The program is tailored to the competency targets of
Bank BTN’s career development concept was adjusted to the needs        Strategic Orientation, Aligning Performance for Success, and
of the Bank, employee availability, potential mapping from talent      Driving Execution so that it is expected to produce effective and
mapping scores, career movement patterns in accordance with            optimal performance and productivity.
position risks and position movements. This was to ensure that         Program Objectives:
employee career development was also in line with business needs       1. Preparing successors for Company leaders who are competent,
or needs in fulfilling organizational transformation/change.                have broad insight, and master their field of work.
                                                                       2. Providing additional training in the form of soft competency
To ensure the fulfillment of successors, career development                 (referring to Bank BTN Competency).
programs were also carried out for various levels of positions.        3. Strengthen abilities in leading a team, planning, organizing
The implementation of the program was carried out with steps                and making decisions to improve performance.
starting from the identification and selection of candidates, up to
the talent panel to determine the career movement or position of       Know Your Employee (KYE)
the candidate from the results of the program implementation. The      The Company implements Know Your Employee (KYE) in
types of development carried out for candidates included leadership    accordance with external and internal regulations. KYE is carried
education, coaching and mentoring, setting specific targets, project   out continuously and comprehensively, where during 2023 KYE will
assignments, mandatory technical education and certification,          also be carried out as an early warning effort for clues or indications
teaching/speaking assignments, certification. In addition,             that there is something unusual that requires further investigation. In
executive coaches, rotation/replacement, company benchmarks,           carrying out KYE, the Company uses the KYE application which is
joint associations (banking professional associations), seminars/      managed by the Human Capital Work Unit. The KYE application
conferences and assignments to ad-hoc teams were also carried out      has 7 (seven) parameters, each of which has a score to produce
to increase exposure, experience and network of employees.             an accumulated employee profile value, including suspicious
                                                                       transactions and marriage between employees. The results of
Talent Acceleration Program (TAP)                                      employee profiling for KYE which is carried out periodically are then
The Talent Acceleration Program (TAP) is the Company’s talent          followed up according to internal mechanisms and in accordance
development acceleration program as a feeder for critical positions    with applicable regulations.




Implementation of Career Development

The activity to support employee career development was the implementation of employee assessments. The assessment implementation
during 2023 can be seen as follows:


Details of the 2023 Assessment

  No.                                                 Information                                                      Participants
   1.    Assessment Grades 8 – 13 (ASTONIA)*                                                                               1,040

   2.    Assessment Grade > 13 Using Consultant Services                                                                     345




                                                                           PT Bank Tabungan Negara (Persero) Tbk                       379
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                                                   Human
                                                   Capital




  No.                                                              Information                                                  Participants

   3.      BOD-1 Assessment (Ministry of SOEs Competencies)                                                                              10

   4.      Technical Competency Assessment                                                                                              252

           Total Employee                                                                                                              1,647

*ASTONIA was Bank BTN’s internal application for carrying out employee assessments.




Details of Employee Promotions in 2023

                                      Grade                                                            Number of participants

                                          8                                                                         2

                                          9                                                                       290

                                         10                                                                       155

                                         11                                                                       583

                                         12                                                                       238

                                         13                                                                       295

                                         14                                                                       200

                                         15                                                                       108

                                         16                                                                        59

                                         17                                                                        28

                                         18                                                                        22

                                         19                                                                        11

                                         20                                                                        12

                                      TOTAL                                                                      2,003



Details of Talent Acceleration Program (TAP) Participants and BTN Millennial Leader 2023

                                                        TAP Batch 1                         TAP Batch 2                  BTN Millennial Leader
                 Grade
                                                Number of participants                  Number of participants           Number of participants
                   13                                          -                                  -                                3

                   14                                         1                                   3                               18

                   15                                        16                                  40                                -

                   16                                        34                                  23                                -

                   17                                        23                                   6                                -

                   18                                         3                                   -                                -

                 TOTAL                                       77                                  72                               21




Performance Assessment
Policy

Provisions for Employee Performance Assessment are stated                                within 1 (one) year and making commitments between
in Special Policy Number KK.3A dated October 31, 2023                                    superiors and subordinates to support the achievement of
concerning the HC Cycle and Technical Instructions Number                                Unit Performance and Company Performance.
PT.3-A.9 dated October 31, 2023 concerning Performance                                2. Performance Monitoring which aims to ensure that
Assessment. In the performance appraisal process there is a                              performance targets can be achieved from time to time.
performance management cycle including:                                               3. Performance Assessment is the process of evaluating
1. Formulation and Determination of Performance Targets which                            performance targets and their achievements.
    is the process of setting performance targets to be achieved



380            PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                2023 Annual Report




The components to be assessed covered:                                   •   The Performance Indicator (PI) component was a measure
a. Performance Assessment (90% Weight)                                       of the success of the implementation of the employee’s job
    It is an assessment based on the Key Performance Indicator of            description. This component reflects individual performance
    the employee’s position. The performance appraisal consists              based on their job description.
    of 2 (two) components, namely:
    • Cascading KPI (Key Performance Indicator) components,              b. Cultural Implementation Assessment (10% weight)
          namely KPIs obtained from cascading results (according            This was an assessment from the direct superior to the
          to the responsibilities and roles of the individual) against      employee based on the elaboration of the implementation of
          KPIs from the layer above or KPIs of work units. This             the corporate culture.
          component reflected the contribution of an individual to
          the success of his work unit. The types of cascading were          Finalization of employee performance appraisal was carried
          as follows:                                                        out by the Personnel Committee in each work unit for further
                                                                             submission to the Human Capital Management Division as a
       Fully Cascade          :   KPI Units were fully passed down to        basis for determining remuneration, career development and
                                  employees with the same target.            recording in the Human Capital Information System (HCIS).
       Partially Cascade      :   KPI Units were passed down to
                                  employees with divided targets/        Implementation Of Performance Assessment
                                  segments (according to individual
                                  responsibilities).
                                                                         The performance assessment process for the 2023 performance
       Contributory Cascade   :   Unit KPIs were passed down to
                                  employees in terms of other KPIs
                                                                         year is currently still ongoing and the results of the performance
                                  that can support the achievement       assessment for 2022 are as follows:
                                  of the unit’s KPIs (according to the
                                  employee’s role).



  No                                              Score Category 2022                                        Number of Employees
   1       Excellent                                                                                                     2,587
   2       Very Good                                                                                                     4,172
   3       Good                                                                                                          3,895
   4       Fair                                                                                                            129
   5       Poor                                                                                                              27
 Number of Permanent Employees                                                                                           10,810
 Probationary Officer                                                                                                     1,048
 TOTAL                                                                                                                   11,858




Remuneration

In providing remuneration, in 2023 new provisions had been               The remuneration policy prepared had to be at least consider:
issued which improved the previous provisions, namely the                1. Creating effective risk management
issuance of Special Policy (KK) No.3-B dated October 31, 2023            2. Company’s financial stability
concerning Remuneration. Management of Human Resources or                3. Adequacy and strengthening of the Company’s capital
Human Capital became one of the most important priorities in             4. Short-term and long-term liquidity needs
running the Company. Employee remuneration was a salary and              5. Future income potential.
compensation system implemented by the Company to reward
employees based on a number of factors.                                  Implementation of Remuneration

The scope of the remuneration system included governance                 The company provides remuneration to employees by
in providing remuneration, compensation, benefits, benefit               implementing performance based rewards. Thus, the higher
compensation based on statutory regulations and awards. The              the employee’s performance, the higher the remuneration the
application of governance in providing remuneration aimed to             employee gets. The company also implements gender inclusion
encourage prudential banking, namely that risk taking in carrying        in remuneration, so that there is no difference in remuneration
out business activities was carried out in a measurable manner           between male and female employees.
and refered to statutory provisions regarding risk management so
that excessive risk taking by decision makers could be avoided
and business continuity and the health of the Company could be
maintained.

                                                                             PT Bank Tabungan Negara (Persero) Tbk                   381
Page 13
                                                 Human
                                                 Capital




Total Remuneration By Gender (Per Grade)

                                       Male                                       Female                                     Total

   Positions                                Amount of                                   Amount of                                 Amount of
                    Number of                                         Number of                              Number of
                                           Remuneration                                Remuneration                              Remuneration
                    Employees                                         Employees                              Employees
                                             (Million)                                   (Million)                                 (Million)
                   Number of                      Amount of
 (Million)                                                                  -                          -             2               6,769,489,498
                   Employees                    Remuneration
                   Number of                      Amount of
 (Million)                                                                24           51,938,585,850             158           345,270,809,961
                   Employees                    Remuneration
 (Million)             1,061              816,732,616,447                376          253,623,332,898           1,437         1,070,355,949,345
 Level 13-14           1,762              484,594,930,203               1,149         287,609,927,513           2,911           772,204,857,716
 Level 11-12           2,574              417,034,592,176               3,129         475,149,713,347           5,703           892,184,305,523
 Level 8-10               755              97,894,669,648               1,079         138,984,748,782           1,834           236,879,418,430
 Total                  6,288            2,116,358,522,083              5,757        1,207,306,308,390          12,045         3,323,664,830,473

Note: The number of employees were permanent and contract employees




Pension Program

Policy

The Bank BTN Pension Program is divided into two programs,                        designed to help employees prepare themselves financially,
namely the Defined Benefit Pension Program (PPMP) managed                         mentally and physically to face retirement, so that employees can
by the Bank BTN Pension Fund, and the Defined Contribution                        enjoy a comfortable and peaceful life after retirement.
Pension Program (PPIP) managed by a third party Financial
Institution Pension Funds . The PPMP program is a program for                     The implementation of the retirement preparation program is as
employees who entered Bank BTN before 2004, whereas after                         follows:
2004 employees will automatically enter the PPMP program.                         1. Training Program, is a provision program in the form of skills
                                                                                       training with material/fields that suit the talents/desires of
In the Defined Benefit Pension Program (PPMP), employees still                         the employee concerned including: Financial Management
receive benefits equal to the formula determined by the Pension                        Training, Job Searching Training, Entrepreneurship Training,
Fund with the maximum amount of Pension Benefits that could                       2. Career Opportunity Program, with the opportunity to provide
be received by employees of up to 80% of the Basic Pension                             service assistance to the Bank, Subsidiaries and/or Bank
Income referring to the Board of Directors Decree which regulates                      Affiliated Companies. The form of service assistance referred
PT Bank Pension Fund Regulations State Savings (Persero) Tbk.                          to is as a trainer or advisor
(Dapen BTN), In the Defined Contribution Program, permanent                       3. Mentoring Program, by providing counseling aimed at
employees receive retirement benefits from the accumulated                             preparing employees to face life after retirement, and
contribution balance of 2.5% of the salary concerned and 7.5%                          providing coaching related to developing entrepreneurship
from the Company and the results of its development.                                   and job searching


RETIREMENT PREPARATION PROGRAM                                                    In addition to the retirement preparation program, the Company
The Company pays attention to employee welfare before                             also provides an option for employees aged 55 years to be
retirement through the Retirement Preparation Program. This                       able to take the Retirement Preparation Period by being freed
program is intended for permanent employees who have reached                      from daily work with the aim of giving employees more time to
the age of 55 years. The Retirement Preparation Program is                        physically and mentally prepare for retirement.




Implementation of Retirement Program

The implementation of the pension program is a form of                            Staff, Customer Service Staff and secretary status who are 36
appreciation to permanent employees for their contribution to the                 years old are entitled to retirement benefits. As of 2023, there
Company. Permanent employees who have reached the normal                          will be 28 employees undergoing the Retirement Preparation
retirement age of 56 years and permanent employees with Teller                    Period.




382            PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                               2023 Annual Report




Human Capital
Information System (HCIS)

Management of the company’s Human Capital was supported                        3. Reduce the level of manual data intervention from personnel
by the development of adequate information technology (IT) to                     to other internal systems in the company.
ensure operational processes in managing the Human Capital                     4. Ensure the achievement of operational excellence in the
cycle and fulfilling employee rights could run well, as follows:                  HR function and the quality of HR system services that is
1. There is an overall monitoring mechanism for the alignment                     evenly distributed to the smallest work unit in all company
    of vision and mission and various governance, namely                          operational areas.
    access, security and compliance.                                           5. Systematic implementation of the entire talent management cycle.
2. The need to ensure alignment of the HR system landscape                     6. Availability of insight into the entire HR process to support
    with the overall HR strategy.                                                 decision making for management.



In general, the Human Capital IT framework can be described in the following chart:



 2
  ESS/MSS
              IBES                 Leave Request
                                                            Benefit                Travel                  Performannce
           (Intelligent BTN                             Reimbursement          Reimbursement               Management
          Employee Services)




                                                                                                                                    8       iRecruitment
         Organization                Personnel              Time                                           Compensation
                                                                                   Payroll
         Management                Administration        Management                                        Management
                                                                                                                                         Power Applications
                                                                                                                                    9
 1                                                                                                                                        Outsourcing (TAD)
                                                       Training and Event
           Travel                                                              Personnel Cost               Personnel
                                      Benefit             Management
         Management                                                               Planning                 Development              10        DIGISIIPS
                                                              (LSO)

                                                                                                                                            CEO Message
                                                                                                                                    11       - Birthday
          EE Master        EE Master       Clock       EE Master    Training                 Performance          EE Master                  application
              Data             Data        in/out   Data Training   History                  Competency           Data
                                                      Catalogue                                                                          LTI Monitoring
                                                                                                                                    12 Application and JP
                                                                                                                                           Allocation

                                                                                                                                           HC Application
                                                                                                                                    13
                                                                                                                                            Portal SSO
     3      KYE                4     B-Gate              5    Dreams           6    Astonia                7     Tania
                                                                                                                                               WFH
                                                                                                                                    14
                                                                                                                                         (Work From Home)
                                                             Learning            Assesment Tools           Talent Management
                                                         Management System      Online Application         Information System
                                                                                                                                          iHome (Intelligent
                                                                                                              and Analytics         15
                                                                                                                                         Home for Employee)


                                                                    Talent Management Related Application


As an effort to improve Human Capital management technology included in the Human Capital strategic initiative until 2025, in
2023 the HC Technology transformation process began by developing a cloud-based Human Capital Information System (HCIS). The
development of cloud-based HCIS was carried out for the entire Human Capital management cycle and was being developed in 3
(three) phases from 2023 to 2025. This transformation was also to support the implementation of people analytics for HC management
by optimizing the role of technology.




                                                                                    PT Bank Tabungan Negara (Persero) Tbk                             383
Page 15
                                            Human
                                            Capital




Culture
Internalization

The implementation of the Corporate Culture Program in 2023                   In 2023, each work unit was required to implement all pillars.
became a refinement of the program that had been implemented                  The implementation of cultural programs was divided into 2 (two)
so far. Each program was still carried out and reported to the                program categories, namely:
Culture Specialist team every month with reference to the 4 (four)            1. Main Program; namely a corporate culture program that
pillars of Bank BTN Corporate Culture. This year’s program is                     MUST be implemented by each work unit in accordance with
focused on preparing programs carried out by each work unit                       the 4 (four) Pillars of Corporate Culture.
according to needs and focusing on Key Performance Indicators                 2. Elective Program; namely a company culture program that is
(KPI) as well as behavioral changes expected by the Company                       the work unit’s CHOICE adjusted to the work unit’s needs.
which are in line with the AKHLAK Culture Journey (ACJ) Decree
of the Minister of SOE. Each pillar was given a program theme as
guidance for each work unit in carrying out the program.




An explanation of the two programs can be explained in the following table:


    Program
                                              Program Activities                                                      Monitoring
    Category
 Main Program     • Program activities were prepared by the Change Agent Team and BTNers          • Every month the scores was delivered according to
                    in each Work Unit according to the theme determined by the Culture              the report submitted to the Culture Specialist team.
                    Specialist Team.                                                              • Carried out consultatively by the Culture Specialist
                  • Must be implemented by each work unit in accordance with the work unit          Team.
                    classification (Branch Office/Regional Office/Head Office).                   • Work units that were in the top 5 can then became
                  • Covering 4 (four) cultural program themes, namely Sales and Service             coaching buddies for work units in the bottom 5 in
                    Culture, Governance, Risk and Compliance Culture, Performance Culture           each region.
                    and Learning Culture.
                  • Each theme had one/two corporate culture programs according to the
                    work unit classification.
 Selected         • Program activities were determined by each work unit still in line with the   • Implementation of monitoring for selected
 Programs           4 (four) pillars of Corporate Culture.                                          programs was in line with the main program.
                  • Each work unit was required to prepare 1 (one) selected program
                    according to the work unit’s needs.




The implementation of the Bank BTN Corporate Culture program                  it was hoped that all BTNers in each work unit in Branch Offices,
for 2023 - 2024 was directed at supporting the achievement of                 Regional Offices and Head Offices could carry out Corporate
work unit business targets so that each program was an activity               Culture Program activities for 2023 - 2024 .
that could encourage work unit performance both in terms of
business and support. The implementation of the work unit                     In implementing the Corporate Culture program, there was
program could be carried out as well as possible, considering                 a reference theme for each pillar. This guidance became an
that the program was prepared independently by each work unit,                illustration for compiling programs for each work unit.




384         PT Bank Tabungan Negara (Persero) Tbk
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                                                                             2023 Annual Report




                                 Theme of 4 (pillars) Corporate Culture 2023


            Program Theme 2023                                            Program Theme 2023




                          “Memenuhi Harapan
“Tambah Tumbuh”                                                       “Bersih dan Terpercaya”
                             Pelanggan”

Sales Effectiveness         Services Excellence                  Integrity Zone (Risk dan Governance)



                Pillar Purpose:                                               Pillar Purpose:
 End state achievements include increasing sales of             Building awareness and understanding of risks
funding, lending and digital products and improving            and their mitigation and apply risk management
  service quality to encourage Bank BTN’s business               principles consistently and comprehensively
                   and performance




                               Sales & Service              Governance & Risk
                                   Culture                       Culture




                            Performance Culture              Learning Culture




                Pillar Purpose:                                               Pillar Purpose:
            Performance improvement                         Building enthusiasm for learning and improving critical
             efforts to achieve goals                         competencies such as Sales, Digital Analytics, Risk
                                                              & Collection competencies as well as strengthening
                                                            BTNers’ understanding of the importance of culture and
                                                                 implementation of AKHLAK in daily activities.



             Performane Review                                         Learning, Sharing & Doing



           “Berkinerja Unggul”                                               “Terus Belajar”




            Program Theme 2023                                            Program Theme 2023




                                                            PT Bank Tabungan Negara (Persero) Tbk               385
Page 17
                                           Human
                                           Capital




The following is a detailed table of Corporate Culture Program activities for 2023 – 2024:


            Theme                                     Program                   Branch office   Regional Office      Headquarters
                                                                                                                           Yes
                              Sales Effectiveness                                    Yes              Yes
 Sales & Service Culture                                                                                            (Business division)

                              Service Excellence                                     Yes              Yes                  Yes

                              Integrity Zone - Risk                                  Yes              Yes                  Yes
 Governance & Risk Culture
                              Integrity Zone - Governance                            Yes              Yes                  Yes

 Performance Culture          Performance Review                                     Yes              Yes                  Yes

 Learning Culture             Learning, Sharing & Doing                              Yes              Yes                  Yes

 Selected Programs            (handed over to each Work Unit)                        Yes              Yes                  Yes



The total programs carried out by all work units consisted of 7       behavioral changes that all employees must have through 8
(seven) programs or 6 (six) programs for the Support/Shared           (eight) BTNers’ Main Behaviors with 3 (three) Critical Few
Division. The targets achieved in the Corporate Culture program       Behaviors as the main focus of behavior change in 2023.
are not only in line with the Company’s targets but also target



                                                       8 Key Conducts for BTNers




                             Firm and adhere to moral values and business ethics,
        1                    fulfill commitments according to regulations

                             Continue to learn, make intrapreneurship improvements to
        2                    increase the self-competence and others

                             Discipline, Consistency and completing tasks completely
        3                    with the best quality results.


        4                    Mutually respectful, appreciating and open to differences.



        5                    Responsible and always puts the company’s interests ahead.



        6                    Proactive, effective, and efficient in meeting customer needs.


                             Responsive towards changes and providing opportunity
        7                    for continuous improvements.


        8                    Open to collaboration that delivers value-added.


                                                                                                            Critical Few Behaviors



All programs implemented by the Work Unit will be submitted to the Culture Specialist team via the DIGISIIPS application so that all
reported processes are paperless and digitalized.




386          PT Bank Tabungan Negara (Persero) Tbk
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              2023 Annual Report




PT Bank Tabungan Negara (Persero) Tbk   387
Page 19
                                                     Human
                                                     Capital




         Human Capital
         Management Structure
                                                                                                                                              General Meeting of
                                                                                                                                                Shareholders




                                                                                                                                               President Director


  Dewan
   Sharia
Supervisory
Pengawas
  Syariah
   Board
                                                                                                                                            Vice President Director




                                          Director of
                                                                     Director of                                               Director of Assets         Director of IT &
              Director of Consumer       Distribution &
                                                               Institutional Banking                                             Management                   Digital
                                            Funding




                                                                                         SEVP
                                                                                   Wholesale Banking




                                          Wealth               Institutional            Corporate                Marketing         Commercial Asset
                   SME Banking                                                                                                                              Digital Banking
                                        Management               Funding                 Banking               Communication         Management




                                                                                                                                       Consumer               IT Strategic
                  Non subsidized                           Financial Institution       Commercial
                                        Retail Funding                                                                            Collection, Recovery        Planning &
                    Mortgage                                & Capital Market            Banking
                                                                                                                                    & Asset Sales 1          Development




                                                                                                                                       Consumer
                    Subsidized        Service Quality &        Wholesale
                                                                                                                                  Collection, Recovery       IT Operations
                 Mortgage Lending        Distribution          Transaction
                                                                                                                                    & Asset Sales 2




                                                                                                                                     Procurement
                                                                                                                                                           Data Management
                 Personal Banking      Regional Offices                                                                              & Fixed Asset
                                                                                                                                                              & Analytics
                                                                                                                                     Management


                                     • Branch Office
                                     • Priority Banking


                  Sharia Banking                                                                                                                              IT Security




               • Sharia
                 Branch Office

                                                           Asset & Liability                 IT Steering             Risk Management                Human Capital
                                                              Commitee                       Committee                   Committee                    Committee




                 Committee             Board              Business                 Support                 Shared Service

                 Command Line                  Coodination Line




         388         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                           2023 Annual Report




The company’s Human Capital management continues to be developed to ensure that the policies, processes, procedures and technology
used are the best according to best practice. The company’s Human Capital management organization is managed by 4 (four) Divisions,
namely the Human Capital Strategy Division (HCSD), Human Capital Management Division (HCMD), Human Capital Business Partner
Division (HCBD) and Learning Management Division (LMD) under the leadership of the Human Capital Director, Compliance & Legal.


Human Capital Management Organizational Structure




                                                                                                                           Board of Commissioners




                                                                            Director of Human
                                                   Director of Risk
                         Director of Finance                               Capital, Compliance
                                                    Management
                                                                                  & Legal



                                                                                               SEVP
          SEVP                                                                           Compliance & Legal                                Audit Committee
        Operations
                                                                                                 -
                                                                                                                                            Remuneration
                                                                                                                                            & Nomination
                                                                                                                                             Committee
                                                                      Human Capital
      Credit Operation        Treasury         Retail Credit Risk                                  Legal                 Internal Audit
                                                                        Strategy                                                           Risk Monitoring
                                                                                                                                              Committee




        Operation &       Corporate Strategy       Whosale            Human Capital          Compliance &                 Corporate
      Business Support       & Planning           Credit Risk          Management             Governance                  Secretary




                             Finance &          Enterprise Risk         Learning
        Customer Care                                                                      Policy & Procedure
                             Accounting          Management            Management




                                                Transformation
                          Investor Relations                           Human Capital
                                                 & Partnership
                             & Research                               Business Partner
                                                 Management




     Credit Policy             Credit                   Business                Transformation
                                                                                                              ESG Committee
      Committee              Committee                 Committee              Steering Committee




                                                                                 PT Bank Tabungan Negara (Persero) Tbk                       389
Page 21
                                          Human
                                          Capital




HUMAN CAPITAL MANAGEMENT POLICY


As one of Human Capital’s strategic initiatives in 2023, there        3. Technical Instructions for Talent Mapping. PT.3-A.13
were changes to the policy architecture aligned with the              4. Technical Instructions for the SDP Program and Status Transfer
policy architecture at the Company level. The Human Capital               Number. PT. 3-A.12
management policy was outlined in a General Policy on                 5. Technical Instructions for Facilities and Value Units Technical
Human Capital, which then as a derivative had been issued                 Instructions 3-B.1
a Special Policy, namely the Human Capital Cycle Special              6. Technical Instructions for Technical Instructions 3-A.4
Policy, Remuneration Special Policy, Personnel Regulation and             Competency Dictionary
Administration Special Policy, Directors Facilities KKS, Directors’   7. Technical Instructions for Technical Instructions Employee
Official Travel Special Policy, Interim HCBP KKS, Personnel               Assessment.3-A.9
Credit KKS and Pension Fund Regulation Special Policy which           8. Technical Instructions for Succession Planning PT.3-A.8
were improvements to previous Human Capital management                9. Technical Instructions Job Description PT.3-A.1
policies. In addition to the issuance of Special Policy, Technical    10. Job Specification Technical Instructions PT.3-A.3
Instructions related to the Human Capital Special Policy were also    11. Technical Instructions for Job Grading PT.3-A.2
published as instructions for its implementation which consist of     12. Job Family Technical Instructions PT.3-A.10
15 Technical Instructions as the guidelines for the implementation    13. Job Desc Directors & SEVP PT.3-A.5
of the policies that had been prepared, namely:                       14. KYE Technical Instructions for Directors and Board of
1. Technical Instructions for Technical Instructions Employee             Commissioners
     Requirements.3-A.7                                               15. Technical Instructions for Sharia Employee Financing
2. Technical Instructions 3-A.11 Recruitment Technical Instructions




Human Capital
Work Plan 2024

The 2024 Human Capital Strategic Initiative is guided by the          4. Activate the EVP Program Implementation to improve
2022-2025 Human Capital Roadmap with the theme People                    Employee Experience.
Analytics & Employee Experience in 2024. In preparing the             5. Strengthening the role of change leaders to internalize core
2024 work program, the Human Capital Compliance & Legal                  values in each unit and encourage behavioral changes.
Directorate refers to several documents and evaluation results for    6. Development of HC Technology which focuses on Talent
2023, including:                                                         Management, People Analytics and Employee Self Service
1. Shareholder Aspirations (APS) 2024.                                   to improve Employee Experience.
2. Human Capital Roadmap 2022-2025.
3. Corporate Plan 2021-2025.                                          All programs are carried out in order to fulfill the mandate of
4. Human Capital Maturity Assessment.                                 shareholders and align with the Company’s internal needs in
5. Top-Down Aspirations and Need for Support from Human               order to support the achievement of the Company’s Vision to
    Capital in 2024 as a result of the Join Planning Session (JPS).   become The Best Mortgage Bank in Southeast Asia by 2025.
                                                                      In 2024 there will be approximately 11 (eleven) shareholder
As a follow-up to the initiative program and aspirations for the      directives related to Human Capital as follows:
need for Human Capital support in 2024, there are several             1. Employee productivity improvement program that is better
programs or work plans as follows:                                        than the previous year.
1. Employee fulfillment through the multisourcing recruitment         2. Talent Management Holding/Sub Holding by implementing
    method to attract quality talent, especially in the fields of         talent management processes according to best practice.
    funding, transactional, digital banking.                          3. Implement Talent Mobility within the BUMN Group or across
2. Implementation of Succession Programs and special career               BUMN/Clusters.
    paths for general management, funding, transactional and          4. Fulfillment of the Mandate of Law no. 8/2016 concerning
    digital banking as well as acceleration programs.                     Persons with Disabilities, related to Recruitment, Workforce
3. Developing employee competencies, especially those related             Placement, Career Development, Welfare, Accessibility/
    to critical capability, leadership, funding, transactional and        Health and work safety.
    digital banking.



390         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                         2023 Annual Report




5. Fulfillment of Quality and Quantity Data from the BUMN talent   c. Comply with regulatory certification by ensuring that all
    portal to recruit nominated talent.                               mandatory competencies and certification are carried out
6. Talent Development Indicators by increasing the Ratio              properly, including fulfilling the required certification for
    of Women in Nominated Talent Ratio of Millennials in              employees including Risk Management Certification, SPPUR,
    Nominated Talent.                                                 Compliance, WAPERD, Treasury, WPPE-P and lending sector
7. Improvement of BOD and BOC remuneration governance.                employees.
8. Implementation of Respectful Workplace Policy (RWP).            d. Improving Learning Culture by developing a culture of self-
9. Follow up with improvements to the results of the HC Maturity      learning, Community of Practice, Project Assignment, and
    Assessment.                                                       Coaching/Mentoring.
10. Sustainable business practices by balancing company            e. Strengthening the Learning Organization and Infrastructure
    interests with employee welfare.                                  includes improving the organizational structure of the
11. Carry out the AKHLAK Culture Journey In accordance                Learning Management Division, integrating the Learning
    with the Decree of the Minister of BUMN No. SK-115/               Management System (LMS) and Knowledge Management
    MBU/05/2022.                                                      System (KMS) and developing learning content through
                                                                      collaboration with learning providers.
In order to improve employee competency in 2024, a Learning
Management Work Program is being implemented with 5 (five)         Apart from that, in managing the knowledge and know-how
focuses as follows:                                                possessed by Subject Matter Experts (SME), the Company will
a. Developing Competencies to Increase Productivity                carry out a self-assessment of knowledge management and in the
    • Employee development capabilities in increasing the          future will implement ISO 30401:2018 concerning knowledge
        High Yield Loan portfolio, Transactional and Retail TPF    management.
        as well as improving Loan Quality.
    • Development of IT and Digital capabilities to support the    To ensure that Human Capital is a strategic partner of the
        implementation of Digital Banking and People Analytics     Company’s business, Human Capital also continues to strengthen
        strategies.                                                the role of the Human Capital Business Partner Division (HCBD)
b. Improve leadership capabilities and future skills related       and ensures the work program of the Human Capital Business
    to leadership development programs that are tailored to        Partner Division (HCBD) to support business needs in the form of
    succession plans and future skills.                            employee fulfillment, compliance competence or others.




                                                                       PT Bank Tabungan Negara (Persero) Tbk                 391
Page 23
                                  Information
                                  Technology




INFORMATION
TECHNOLOGY



392   PT Bank Tabungan Negara (Persero) Tbk
Page 24
                                   2023 Annual Report




The Company regularly innovates information technology
to support the Company’s business. Several information
technology innovations carried out in 2023 include: Online
Onboarding (OLOB) e-KYC, HC Cloud, and Internet Banking
Business (IBB).




                     PT Bank Tabungan Negara (Persero) Tbk   393
Page 25
                                                                           Information
                                                                           Technology




Information
Technology Strategy

Information technology plays a significant role in supporting                                               2. Enterprise Architecture
the Company’s business. Hence, the Company initiates specific                                                  Design a modular, open and scalable technology stack
strategic planning for IT that is expected to be used as a                                                     which helps the Bank’s business and products digitalization.
reference in developing Information technology and improving                                                3. IT Operating Model
infrastructure and security of information and data processing.                                                Establish a multi-speed operating model with a sourcing
Company’s Information Technology Strategic Plan (RSTI) 2021-                                                   method that strategically helps digitalization in the future.
2025 is supported by 4 (four) fundamental pillars, namely:                                                  4. IT Transformation Roadmap
1. Business Aligned IT Strategy                                                                                Establish a roadmap integrated with Human Capital, process
     Align all business necessities to ensure the formulated Information                                       and technology to assist customers’ business necessities.
     Technology Strategic Plan (RSTI) supports Company’s vision to
     be Best Mortgage Bank in Southeast Asia by 2025.


                                                                                   BTN Vision and Mission

                                                                                         Enabled by...

                                              Information Technology Strategy Plan (RSTI) 2021 - 2025




                                                                                                                                                  Industry Trends & Best Practices
                          Technology Trends




                                                  BUSINESS ALIGNED




                                                                                             ARCHITECTURE




                                                                                                                          IT OPERATION
                                                                     IT STRATEGY




                                                                                              ENTERPRISE




                                                                                                                              MODEL




                                                                       1                         2                            3


                                                                                   IT TRANSFORMATION ROADMAP                             4




1. Business Aligned IT Strategy                                                                                 d. Flexible Multi-Speed IT
   Information Technology strategic planning is conducted by                                                       The Company conducts acceleration in development
   aligning corporate strategy and business needs. This way,                                                       and quality implementation of information technology to
   information technology implementation will support and be                                                       adapt fast to every change.
   in line with the Company’s business development. To attain                                                   e. Elastic & Resilient Infrastructure
   the Company’s visions, 6 (six) essential themes in technology                                                   The Company provides an integrated system to actualize
   have been formulated, namely:                                                                                   improved efficiency, aggregation between systems and
   a. End to end housing ecosystem digitalization                                                                  consistent and better accessibility.
        Supporting the Company’s business from upstream to                                                      f. Security by Design
        downstream in the future                                                                                   The Company provides secure banking services for
   b. Digitized Operations                                                                                         customers.
        The Company’s business processes advancement through
        digitalization using robot technology or platform tools.                                            2. Enterprise Architecture
   c. Data-driven Bank                                                                                         The Company establishes the architecture of digital banking to
        Utilize the use and processing of accurate and quality                                                 assist its business and product digitalization. Digital banking
        data to improve services                                                                               architecture illustrates the technology and system used by the
                                                                                                               Company to achieve its visions and business strategies which
                                                                                                               have been previously planned. There are 10 (ten) domains in
                                                                                                               the digital banking architecture of the Company, namely:

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                                                                                           2023 Annual Report




   a. Ecosystem Management                                              a. Fulfilling human capital needs by conducting recruitment
      It refers to the management of a sustainable and                     of ODP IT or experienced hired.
      advantageous relationship between the members of the              b. Conducting training IT to enhance their capability.
      ecosystem to gain economical values and social benefits.          c. Performing reviews on IT policies.
   b. Channels
      It refers to the interrelation of assisted and self-service       Furthermore, The Company has also made some improvements
      channels with the customer’s omnichannel experiences.             in terms of process, technology, governance and organization
   c. Sales & Marketing                                                 as a response to IT primary challenges, including.
      It refers to supporting the Company’s business in                 a. Implementation of security tools to optimize information
      marketing, distribution and sales.                                     technology security processes.
   d. Common Customer View                                              b. Implementation of PMO Tools to optimize information
      It functions to provide insight and comprehensive                      technology operational processes.
      management to the customers.
   e. Product Processing                                            4. IT Transformation Roadmap
      It refers to the process, administration and product             The Company has illustrated the IT Transformation Roadmap
      transaction occurring in the Company.                            according to 6 (six) technology themes that are used to
   f. Common Services                                                  achieve its visions. In 2023, the Company developed an
      It relates to process in general to all Company’s products.      agile based system (i.e. digital channel). In accordance with
   g. Technology Tools                                                 the IT Transformation Roadmap that had been prepared, the
      It refers to the enterprise-wide technologies that support       Company continued continuous improvement in 2024 - 2025
      the Company’s operation to advance its productivity and          by focusing on improving non-critical systems, improving
      efficiency.                                                      processes to increase the IT Maturity Level.
   h. Insight & Information
      It refers to enterprise-wide technologies as a means to
      consolidate data and information processing for the           Evaluation Results on Implementation of
      Company’s needs.                                              the IT Strategic Plan
   i. Interface and Integrations
      It refers to dynamically managing and supervising the         In accordance with the Regulation of the Minister of State-
      integration at the Company, internally or externally.         Owned Enterprises of the Republic Indonesia Number PER-2/
   j. Infrastructure & Security                                     MBU/03/2023 concerning Guidelines for Governance and
      It refers to the secure and scalable infrastructure to meet   Significant Corporate Activities of State-Owned Enterprises
      business demands.                                             Article 210 Paragraph 1 point b, the Company has an obligation
                                                                    to convey information on the results of the evaluation of the
3. IT Operating Model                                               Technology Strategy Plan Information (RSTI) 2021 - 2025 which
   In 2023, the Company owned an IT Maturity Level value of         is part of the Annual Report. In this case, the Bank has carried out
   3.30 as measured using COBIT 2019. This value increased          an evaluation of RSTI 2021 – 2025 for the position in 2023 with
   compared to 2022 which had a value of 3.27. This reflects        the scope of the IT initiative.
   that information technology operational processes have
   been well defined and managed. The Company has also              The 2021 – 2025 RSTI evaluation process for the 2023 position
   made improvements to the IT Operating Model to support the       refers to the 2021 – 2025 RSTI document. The progress status for
   Company’s business strategy in 2023, including:                  the 2023 position is 79.11%.




Information
Technology Innovation
The Company is always innovating in information technology to assist its business. The following information technology innovations
were implemented in 2023 among others:
1. Online Onboarding (OLOB) e-KYC
    This is a feature that functions to verify prospective customer data for online account opening needs.
2. HC Cloud
    It is an integrated system for managing Company employee information such as remuneration, salaries and so on.
3. Internet Banking Business (IBB)
    This is a transactional application used to assist corporate customers in carrying out transactions via internet banking.



                                                                        PT Bank Tabungan Negara (Persero) Tbk                    395
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                                                   Information
                                                   Technology




Information
Technology Infrastructure

The demand for technology and the increase in the Company’s                   aimed to ensure that the network was more stable,
digital transactions and services means that organizations must               usage could be monitored and customers got the same
quickly respond to changes that occur. The rapid development                  experience in every branch owned by the Company.
of information technology means that organizations must adapt         3. Backup management system
quickly. One of them is related to infrastructure which is the           The increasing growth of data and the trend of online data
foundation of an organization and covers all services, therefore         access meant that organizations must have a capable
a reliable information technology infrastructure is needed.              backup system. Maintaining and protecting data became the
                                                                         organization’s main concern, so IT Operations implemented
During 2023, the Company had several focuses on improving IT             a backup and recovery system to support business continuity.
service excellence, this was done to maintain business continuity        Backup activities were carried out routinely, namely daily,
and the security of the Company’s information on an ongoing              monthly and annually, onsite and offsite.
basis. One of the strategies carried out by the Company was to        4. Infrastructure Modernization
continuously improve and strengthen infrastructure from year to          Upgrading the latest technology and adding capacity to
year, including:                                                         support operational growth, including:
1. Strengthening IT Monitoring                                           a. Virtualization modernization, upgrading the virtualization
    BTN carried out proactive and integrated monitoring with                  infrastructure version to adapt to current IT needs.
    early warnings to identify potential problems before problems        b. Carrying out additional baremetal infrastructure
    occur. IT monitoring also functioned to collect data and                  capacity and virtualization to maintain the availability
    information as well as monitor the availability and utilization           and reliability of IT infrastructure.
    of application servers, databases and networks, providing            c. Branch Infrastructure Monitoring platform, information
    real time data that can be processed and analyzed for                     that was updated in real time becomes a reference
    overall system performance in one dashboard. Apart from                   for making decisions that can support IT needs at the
    that, IT Operations also completed the construction of an                 Company’s outlets.
    integrated monitoring room to focus more on IT monitoring
    activities and facilitate coordination between teams. The IT      In 2023, the Company also focused on efforts to improve elastic
    monitoring activity carried out was to monitor all dashboards     and resilient infrastructure, this was done in order to increase
    24/7 consisting of application server dashboards, database        resilience and the ability to recover and recover if disruption or
    server dashboards, and network dashboards. Tools used in          disaster occured, the initiatives implemented included:
    IT Monitoring:                                                    a. Cloud journey, conducting cloud readiness assessment,
    a. General Monitoring.                                                 cloud strategy and architecture to be implemented, platform
    b. Network Monitoring.                                                 & security and operational integration. Making changes
    c. Application Performance Monitoring.                                 to the IT operating model (supporting agile delivery and
    d. Security Monitoring.                                                providing continuous delivery of changes to features and
2. Implementation of Standardization                                       business processes).
    Implementation of standardization in Branch Offices became        b. Implementation of cloud computing technology.
    one of the improvements to accelerate business processes          c. Routinely conducted data center readiness trials for critical
    and maintain the availability and reliability of IT services so        and non-critical applications on a regular basis.
    that they could support more optimal Branch Office service        d. Conducting a DC assessment to comprehensively examine
    performance.                                                           the condition of the IT architecture and obtain a road map
    a. Infrastructure Standardization in Branch Offices.                   strategy to obtain an elastic and resilient IT infrastructure.
    b. Network standardization in branch offices, apart from
         fulfilling security aspects related to data security, also




396         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




Information
Technology Governance

The Company has governance and technology that keeps up                   and funds. Bank BTN improved the professionalism and
with current developments to help optimize business operational           competence of employees as customer partners with various
processes. Apart from that, the Company also has information              cyber security training and certifications.
technology infrastructure, information technology security and         2. Process
adequate resources. This is reflected in the results of the IT            To implement good governance in accordance with industry
Maturity Level assessment which was carried out based on COBIT            standards, the work process at BTN is based on the latest
2019 with a value of 3.30. This value reflects that information           provisions/SOPs which are socialized and implemented
technology operational processes have been well defined and               consistently by all Bank stakeholders. In line with these
managed.                                                                  standard work processes, Bank BTN has implemented the
                                                                          following initiatives, including:
                                                                          a. Establishment of a Security Operation Center (SOC) to
Disruption                                                                     detect, respond to incidents and recover from cyber-
                                                                               attacks.
In facing the current era of increasingly rapid technological             b. Establishment of a To support the function of the
development, the Company has taken steps to face the challenges                Computer Security Incident Response Team (CISRT) which
of technological disruption. The steps that the Company is                     collaborated with regulators and was also supported by
currently taking to face the challenges of technological disruption            the latest technology and monitoring systems in the form
include the Company aligning business process needs with                       of Security Incident and Event Management (SIEM).
technology due to increasingly rapid technological developments           c. The response and recovery testing process to ensure the
and increasing customer needs. This is reflected in the alignment              Company’s readiness to face cyber threats has also been
between the Bank’s Business Plan and the Information Technology                carried out, including through phishing simulations and
Strategic Plan. Apart from that, the Bank also implements security             tabletop exercises
tools and applies the international standard ISO 27001:2013
to maintain the security of data and information owned by the
Company.


IT Security Activities

Information Technology Security

Along with the development of information technology (IT) in the
digitalization era, Bank BTN has made several efforts to maintain
Information Technology (IT) security through 3 (three) main pillars,
namely:
1. People
     Bank BTN conducted education in the form of security
     awareness on a regular basis to all employees, customers
     and third parties working with Bank BTN. Various media were       3. Technology
     used to convey security awareness such as social media,              Bank BTN implemented the latest security technologies
     email, podcasts and desktop wallpapers on employees’                 such as endpoint security, application security, cloud based
     work devices. Socialization to customers is always a priority,       security, Data Loss Prevention (DLP), Next Generation Firewall
     including through Bank BTN e-channel media, Bank BTN                 (NGFW), Patching and Hardening automation, secure
     Social media and various offline/marketing events carried out        encryption of customer data, mobile application security,
     by the Company, to protect customers’ personal information           Multifactor authentication and cyber threat intelligence.




                                                                           PT Bank Tabungan Negara (Persero) Tbk                 397
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                                                                 Information
                                                                 Technology




                                                                     360O Security By Design


          Initiation & Development of Digital Services                                     Initiation     Developmentofof
                                                                                                Initial & Development     Digital
                                                                                                                        digital    Services
                                                                                                                                Services

• Security is carried out ot every stage development. of safe                        Before being used by customers, system security testing is carried out
  development.                                                                       through:
• Testing is carried out with the latest methodology and technology                  • Security testing using SAST, DAST, IAST/MAST
• Consistently implemented to meet BTN, OJK, BSSN, and Industry                      • Simulation of attacks by hackers carried out by security consultants
  security standards and ISO 27001                                                      (Penetration Testing)
                                                                                     • Implementation application of protection algorithm technology



                                                                                                                           VA      PT
                                Requirements
                               • Gather Security
                                 & Compliance
                                  Requirement                                                                Vulnerability           Penetration
                                                           Design                                            Assessment                Testing
               Support
                                                      • Use Privacy-by-
          • Execute Incident
                                                            Design
             Response Plan
                                                        • Assess Risk
                                  Securing
                                    the
                                   SDLC                    Coding
            Deployment                                • Security Code
            • Rollback Plan                               • Testing
           • Create Incident                           • Unit Testing
             Response Plan          Testing             • Peer Code
                                                          • Review
                                  • Automated
                                 Functional Testing
                                  • Penetration
                                      Testing
                                                   Pe
                                                     op
                                                      le
                         y
                     log
                   noh
                 Tec




                                    Physical Hacking




                         Retest and Improvement                                                                       Operational

Security reviews and tests are carried out periodically, including as follows:       In carrying out operational processes, Bank BTN has implemented the following
• Carrying out vulnerability assessments and penetration testing in production       security aspects:
   environments                                                                      • Datacenter backups are periodically tested to maintain reliability from natural
• Conduct trials and simulations of cyber attacks by utilizing reference data from       disasters and force majeur disturbances
   security monitoring tools                                                         • Use of the latest security technology, including Firewall, AntiDDOS, Cloud Security
• Carrying out table-top exercises accompanied by response and recovery actions      • Security Encryption of Bank Data and Customer Data
                                                                                     • Security Operation Center 24 x7 (Blue Team)



398             PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                      2023 Annual Report




                                           Security Standards Oversight and Compliance



                                              Regulatory Compliance & Recognition of Security Standards

                                              • Registered as a Kominfo Electronic System Operator (PSE) - 001813.21/DJAI.PSE/01/2022
                                              • Verification of Cyber Security Maturity by the National Cyber and Crypto Agency (BSSN) with a
                                                score of 4.68 on a scale of 5.
                                              • Obtain Attestation status for implementing IT security controls
                                                that meet SWIFT standards.
                                              • Has the international ISO 27001 certificate
                                              • Has a CSIRT cyber response team that has been accredited
                                                by the regulator (BSSN)




                                        Customer Support

    • Protection against Online Fraud (Social Media) Collaboration
      with BSSN
    • Transaction Security Campaign
    • 24 x 7 Call Center to serve customer complaints regarding
      electronic transaction security




                        Audit and Evaluation

    The implementation of Audit and Evaluation is carried out
    thoroughly:
    • Regulatory audits were carried out by Bank Indonesia (BI)
      and the Financial Services Authority (FSA)
    • External audits were carried out by internationally certified                                 Customer Protection
      auditor firms
    • Internal Audit was carried out by the Internal Audit Division
                                                                             • Multi-factor authentication security for carrying out financial
                                                                               transactions (PIN & SMS OTP)
                                                                             • Verify online customer data connected to www with the Dukcapil system
                                                                             • Implementation of mobile application protection algorithm technology
                                                                             • Implementation in accordance with the provisions of the PDP Law
                                                                               No. 27 of 2022



These various initiatives were explained in the 2023 strategic achievements as follows:


1. Obtained ISO 27001 Certification
   To ensure that the human resources, governance and                        3. Obtain CSIRT accreditation from the Regulator
   technology used were in accordance with industry standards                   Bank BTN together with the National Cyber and Crypto
   (International Standards Organization), Bank BTN carried                     Agency (BSSN) have carried out CSIRT training and
   out a certification process and obtained accreditation No. IS                accreditation so that Bank BTN CSIRT has been officially
   790715.                                                                      registered in accordance with the Cyber Incident Response
2. Achievement of cyber security maturity (CSM) 4.68                            Team Registration Certificate or CSIRT No.141/CSIRT.01.03/
   Bank BTN together with the National Cyber and Crypto                         BSSN/04/2023 on April 03, 2023.
   Agency (BSSN) carried out a Cyber Security Maturity                       4. Implementation of Endpoint Data Loss Prevention technology
   (CSM) assessment which aimed to measure the level of                         As an effort by the bank to protect customer data, the bank
   implementation and maturity of information security at Bank                  implemented Data Loss Prevention technology to mitigate
   BTN. Based on the results of the assessment carried out by                   leaks of customer and company data.
   BSSN, Bank BTN received a score of 4.68 on a scale of 5,                  5. Implementation of Cyber Threat Intelligence and Digital
   which means Optimal Implementation.                                          Rights Protection Technology




                                                                                  PT Bank Tabungan Negara (Persero) Tbk                         399
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                                                   Information
                                                   Technology




   To ensure that Bank BTN’s IT security visibility was well           Information Technology Audit
   monitored, the Company implemented cyberthreat
   Intelligence (CTI) technology which actively monitored the          To support better implementation of information technology (IT),
   behavior and activities of cybercriminals so that Bank BTN          the Company carries out IT audits through carried out by SKAI.
   could anticipate emerging threats. CTI technology was               The IT audit process produces output that must be followed up
   equipped with Digital Rights Protection which could take            in the form of the results of the audit, the Company carries out
   down content that threatens reputation and harms Bank               follow-up actions on the results of the audit and/or assessment
   customers.                                                          of IT implementation. This is done to fulfill the compliance aspect
6. Implementation of Multifactor authentication and login              of the Regulation of the Minister of State-Owned Enterprises
   identity management                                                 of the Republic of Indonesia Number PER-2/MBU/03/2023
   In line with the increasing number of identity and login            concerning Guidelines for Governance and Significant Corporate
   credential (username and password) thefts by cybercriminals,        Activities of State-Owned Enterprises Article 210 Paragraph 1
   Bank BTN assessed that implementing multifactor                     point a, namely that the Company has an obligation to convey
   authentication was necessary to secure employee access to           information on its actions. further audit results and/or assessment
   Bank BTN’s IT applications and resources.                           of information technology (IT) implementation. The IT audit follow-
7. Mobile Application Security                                         up to the audit carried out in 2023 included 138 findings, 82
   To protect mobile applications used by customers, Bank BTN          findings that had been completed (59.42%) and 49 findings
   implemented a security by design application development            were not yet due, while the remaining 7 findings were due.
   process. Strengthening the access devices used by customers
   was also a priority by implementing Mobile Application
   Security.                                                           IT Risk Maturity

                                                                       The quality of information technology (IT) implementation is
Information Technology                                                 currently assessed using IT Maturity COBIT 2019, and the
Infrastructure Strategy (IT)                                           results of the measurement for 2023 on a scale of 0 (Incomplete
                                                                       process) – 5 (Optimizing process) is 3.30 (established process).
IT development related to security has been outlined in the            This means that the majority of processes in the Cobit domain
Information Technology Strategic Plan (RSTI) 2021 – 2025               are defined, standardized, and achieve their goals in a more
which has the theme Security by design to improve the security         organized way.
of the Company’s systems and applications, including the
implementation of Identity & Access Management, Security               In addition, related to information technology (IT) risk management,
& Network Monitoring & Compliance and Integrated Patch                 the Company periodically measures the composite risk level which
Management. In line with this initiative, activities carried out       is the result of the inherent risk value and the quality level of the
include Fulfillment of the PDP Constitution No. 27 of 2022,            Bank’s risk management using the component parameters listed
Availability Security Infrastructure and technological rejuvenation,   in OJK Circular Letter No. 14 / SEOJK.03/2017 concerning
Compliance Regulator Compliance, Data and User Access                  the Assessment of the Health Level of Commercial Banks and
Governance as well as mitigation of fraud and transaction abuse        the results of the measurement for 2023 on a scale of 1 (Very
(Money Laundering and Gambling Activities).                            healthy) – 5 (Not healthy) is 2.42 which reflects the generally
                                                                       healthy condition of the Bank so that it is considered capable of
                                                                       facing negative influences significantly related to IT risks.
Disaster Recovery

The Bank had policies and procedures used for management in the        IT Awareness Programs
event of a disaster which are stated in the Bank’s internal policies
and procedures regarding the Implementation of the Disaster            Bank BTN implemented the IT Security Awareness Program which
Recovery Plan (DRP). Apart from that, the Bank BTN also has an         aims to increase awareness and understanding of all employees
Organizational Structure for the Implementation of the Disaster        to maintain information security in the form of personal and
Recovery Plan (DRP), the Authority of the Disaster Recovery Plan       Company data or information. Activities that have been carried
(DRP) Organization, the Disaster Recovery Plan (DRP) Process Flow,     out during 2023 are as follows:
Categorization of IT System Recovery Criticality, Backup Frequency
and Retention, List of Disaster Work Teams Recovery Plan (DRP),
Important Telephone List and Service Provider Contact List.




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                                                                                             2023 Annual Report




1. Delivery by Top Management                                          3. Scenario-Based Security Testing
   Top Management has conveyed security awareness to                      This activity is carried out to test and measure the level of
   employees with the emphasis that maintaining information               understanding of all employees in maintaining information
   security is a very important part of maintaining customer trust        security.
   and the Company’s reputation                                        4. Training and Workshops
2. Dissemination through the Bank’s Internal Digital Platform             Activities to disseminate information about IT security both
   a. Podcast                                                             onsite and online to all Company employees.
   b. Learning Management System
   c. Email
   d. Wallpaper Desktop




Information Technology
Management Structure

The information Technology Implementation Unit consists of the            a. Develop operational management strategies and
IT Strategic Planning and Development Division, IT Operation                 implement and monitor information technology
Division and Data Management Division. In addition, the                      operations effectively and efficiently to maintain
Company has also established an IT Security Division which has               information technology service levels to support business
a function in charge of handling cyber security and resilience and           operations;
is independent of the IT management function. In general, the             b. Anticipate risk exposure in the implementation of
authorities and responsibilities of each Division are as follows.            information technology operations, as well as develop
1. The IT Strategic Planning and Development Division (ITPD)                 appropriate and adequate countermeasures;
     has the authority and responsibility as a Division that carries      c. Support the implementation of information security; And
     out the role of “Change the Bank” as follows:                        d. Compile and fulfill information technology operational
     a. Plan, coordinate, evaluate, monitor and control activities           reports in collaboration with related units.
          related to the process of formulating an information         3. The Data Management Division (DMD) has the authority
          technology strategic plan as well as managing the               and responsibility as a Division that carries out the roles of
          information technology portfolio, information technology        “Change the Bank” and “Run the Bank” as follows:
          policies and application development strategies                 a. Facilitate and coordinate regarding the establishment
          effectively and efficiently;                                       and implementation of the roadmap and vision for the
     b. Manage the process of developing applications to                     delivery and management of information; including Data
          support business operations and monitoring their                   Warehouse, Big Data, Business Intelligence & Analytics
          implementation to meet the operational needs of the                and Data Management to carry out the Company’s
          Company’s business;                                                strategy in developing its business;
     c. Anticipate information system risk exposure and develop           b. Collaborate with business unit and support leaders
          appropriate and adequate countermeasures;                          to implement the agreed data strategy, set strategic
     d. Support the implementation of information security; and              directions to build an organizational data management
     e. Prepare and fulfill information technology planning and              program and optimize the way the Company uses data
          development reports and their fulfillment in collaboration         both internally and externally;
          with related units.                                             c. Collaborate with other Information Technology
2. The IT Operation Division (ITOD) has the authority and                    Operations Units, Security Work Units and external
     responsibility as a Division that carries out the role of “Run          parties, in managing and creating an environment that
     the Bank” as follows:                                                   makes data and information accessible with appropriate




                                                                           PT Bank Tabungan Negara (Persero) Tbk                  401
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                                                 Information
                                                 Technology




      access control channels, as well as acting as an advisor      4. The IT Security Division (ITSD) has the authority and
      in the use of data to improve performance and formulate          responsibility as a Division that carries out the role of “Secure
      company strategy overall;                                        the Bank” as follows:
   d. Oversee the application of data analysis and new              a. Design, implement and maintain a series of processes
      analytical methodologies that will serve as a guide for the      and systems that are integrated and effective in managing
      company’s management in formulating the company’s                information security and guaranteeing the confidentiality,
      business development strategy; and                               integrity and availability of information assets by minimizing
   e. Oversee the process of gathering and reviewing                   information security risks;
      data from various systems already in use; making              b. Prepare and fulfill reports related to information security in
      recommendations to upgrade outdated systems and                  collaboration with related units.
      ensuring new data solutions that are timely, accurate and
      of high quality.




Evaluation Results on the Effectiveness of
IT Implementation in 2023

In accordance with the Regulation of the Minister of State-         Maturity Level assessment for the 2023 position using the COBIT
Owned Enterprises of the Republic of Indonesia Number PER-          2019 standard and obtained an IT Maturity Level value for the
2/MBU/03/2023 concerning Guidelines for Governance and              2023 position of 3.30. IT Maturity Level assessment is carried out
Significant Corporate Activities of State-Owned Enterprises         comprehensively in all domains according to the COBIT 2019
Article 210 Paragraph 1 point c, Banks have an obligation           standard, including the domain Align, Plan and Organize (APO)
to convey information on the results of the effectiveness of IT     domain Build, Acquire and Implement (BAI), Deliver, Service and
implementation. become part of the Annual Report. In this case,     Support (DSS) domain Measure, Evaluate and Assess (MEA) and
the Bank has carried out measurements in the form of an IT          domains Evaluate, Direct and Monitor (EDM).




IT Competency
Development 2023


During 2023, the Company has implemented IT training                Certification, COBIT 2019 and Certification, Project Management
and certification for employees according to their areas of         Professional and Certification, ITIL V4 and Certification, CAPM
competence. This training includes, among others, Digital           and Certification, CGEIT and Certification, Project Management
Leadership and Certification, NoSQL Database Fundamental For        Prince 2 Foundation and Certification, CEH and Certification,
Manager and Engineer and Certification, UI UX design and            and Comp-TIA Security and Certification




402        PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




Information Technology
Work Plan 2024

The Company has prepared an IT Transformation roadmap that           8. Development of integrated customer service such as omni
will be implemented up to 2025 with 6 (six) main technology              channel (modernization of contact center applications).
themes to achieve the Company’s vision and mission in the future,    9. Implementation of Enterprise Document Management System.
namely end-to-end housing ecosystem digitalization, digitized        10. Modernization of the cash management system, such as
operations, data-driven banking, flexible multi-speed IT, elastic        integration with the ecosystem, adding payment features to
and resilient infrastructure and security by design. Development         third parties, adding national cash pooling and mobile cash
of Information Technology in 2023 supports the corporate plan            management features.
and the general policy aspirations of the directors in 2023 in the   11. Implementation of wealth management system.
fields of credit and credit quality, funding and office network,     12. Developing systems to support wholesale banking such
feebased income and overhead expenses. In general, the IT                as implementing custody systems, trade finance, e-bank
development strategy for 2024 is as follows:                             guarantees, conventional and sharia supply chain
1. Development of integrated partner management such                     management systems.
     as enhancement of BTN Properti for developers and               13. Implementation of End to End Procurement.
     enhancement of partner applications.                            14. Implementation of the treasury system and settlement system, such
2. Development of an integrated digital lending system such              as upgrading the treasury core system, product development
     as enhancement of BTN Properti, enhancement of Survey/              such as market linked deposits, dual currency investment, call
     OTS applications including geotagging and Geographic                spread options to support the treasury business.
     Information System (GIS), enhancement of loan system            15. Implementation of enterprise risk management systems such
     family related to Loan Origination System, Loan Monitoring,         as market risk systems, enhanced fraud detection system
     Collection and Restructuring System, BTN Ready platform,            applications and enhanced operation risk systems.
     implementation of decision engine system, H2H enhancement       16. System implementation related to data driven themes, such
     with third parties, such as insurance (Guarantee, Claims,           as implementing data lakes, data movers, enterprise data
     Subrogation), development of web-based MSME loan                    warehouses and master data management.
     applications, joint finance, loan platform modernization and    17. Modernization of the HC system to achieve BTN’s mission to
     platform integration.                                               become one of the homes of Indonesia’s best talent.
3. Loyalty system development such as the Poin Spekta and PLUS       18. Implementation of IT development to support multispeed such
     application development can help manage depersonalized              as adoption of agile delivery tools and agile implementation.
     loyalty programs to build stronger relationships with           19. Improving payment system capabilities, such as developing a
     customers.                                                          fast payment system (BI-Fast Phase 2) and systems to support
4. Modernization of digital channels through the development             the remittance business, such as host to host incoming transfers.
     of new mobile banking for conventional with the addition of     20. Implementation of elastic and resilient infrastructure such as
     new features (such as online money changer, BTN Ready,              implementation of cloud journey, end to end monitoring (data
     and others), new mobile banking sharia, internet banking            center, fail over and applications), data center operations
     business, online onboarding with E-KYC for conventional and         & infrastructure improvements such as modernization of
     sharia, enhancement credit card mobile apps, development            infrastructure, systems/software, expanding the scope of
     of EDC e-commerce/online acquiring features and EDC                 asset management tools, implementation of integrated
     operational cooperation, visa paywave, use of other cards           monitoring system tools and branch infrastructure.
     on EDC mini ATMs, QRIS Crossborder, Online Acquiring,           21. IT development related to security by design such as
     Sharia Virtual Accounts, as well as ATM operational                 implementing Identity & Access Management, Security &
     cooperation.                                                        Network Monitoring & Compliance such as implementing
5. Development of API Enablement such as API Management                  end point protection, implementing cyber threat security
     & Sandboxing, implementation of high availability for API           solutions and Integrated Patch Management.
     Management and addition of API features.
6. Modernization of the core banking system and branch               In addition to IT development, the Company evaluated and
     delivery system such as enhancing CBS and BDS such as           updated IT policies against regulatory regulations, internal
     adding currency to retail foreign exchange products and         policies and based on existing best practices, while to increase the
     implementing a new core sharia banking system.                  capacity and capability of the IT team, the Company conducted
7. Carrying out General Ledger (GL) System Improvement.              training and certification according to individual needs.




                                                                         PT Bank Tabungan Negara (Persero) Tbk                    403
Page 35
                                        Corporate
                                        Governance




CORPORATE
GOVERNANCE



404   PT Bank Tabungan Negara (Persero) Tbk
Page 36
                                      2023 Annual Report




The implementation of GCG increases the Company’s business
success and accountability so as to realize shareholder value in
the long term while still paying attention to the interests of other
stakeholders. GCG is a continuous effort to achieve the goal,
namely Moving Beyond Corporate Governance to True Business
Value.




                        PT Bank Tabungan Negara (Persero) Tbk   405
Page 37
                                        Corporate
                                        Governance




Achievements in the Implementation of
Corporate Governance




                                                                                                                                2




1


                                                                                                                     4
                                                     Photo Description:


                                                     1.     Corporate Governance Perception Index (CGPI) as Most Trusted
                                                            Companies


                                                     2.     GRC and Performance Excellence 2023
                                                            Category:
                                                            • PT Bank Tabungan Negara (Persero) Tbk as The Greatest Champions of
                                                               GRC Excellence Performance 2023 (Banking Industries).
                                                            • PT Bank Tabungan Negara (Persero) Tbk as The Best GRC for IT/Digital
                                                               Transformation 2023 (Banking Industries)
                                                            • Mr Nixon L.P Napitupulu as The Best CEO for GRC Excellence 2023
                                                               (Banking Industries).
                                                            • Mr. Eko Waluyo as The Best Chief Compliance Officer 2023 (Banking
                                                               Industries).



          3                                          3.     TOP GRC 2023
                                                            Bank Tabungan Negara (Persero) Tbk as:
                                                            • Top GRC award 2023 Star 5
                                                            • The most Commited GRC Leader 2023
                                                            • The High Performing of Commissioner on GRC 2023


                                                     4.     ASEAN Corporate Governance Scorecard - IICD
                                                            • Top 50 Largest Market Capitalization Issuers (BigCapPLCs) with the Best
                                                              Corporate Governance Practices
                                                            • The Best Financial Sector 2023




406   PT Bank Tabungan Negara (Persero) Tbk
Page 38
                                                                                          2023 Annual Report




Fundamentals of Implementation of
Corporate Governance

The implementation of GCG within the Company refers to various
                                                                    19. OJK Regulation no. 17/POJK.03/2019 concerning Material
relevant provisions, regulations, and laws as well as GCG
                                                                        Transactions and Changes in Business Activities.
guidelines issued by national and international institutions. The
reference basis for GCG implementation is as follows:               20. OJK Regulation no. 42/POJK.03/2019 concerning
                                                                        Transparency and Publication of Bank Reports.
1. Law of the Republic of Indonesia No. 10 of 1998 concerning       21. OJK Regulation no. 17 of 2023 concerning Implementation of
    Amendments to Law No. 7 of 1992 on Banking.                         Governance for Commercial Banks.
2. Law of the Republic of Indonesia No. 40 of 2007 concerning       22. OJK Circular Letter No.14/SEOJK.03/2015 concerning the
    Limited Liability Companies.                                        Implementation of Integrated Risk Management for Financial
3. OJK Regulation No. 17/ POJK.03/2014 concerning the                   Conglomerates.
    Implementation of Integrated Risk Management for Financial      23. OJK Circular Letter No.15/SEOJK.03/2015 concerning
    Conglomerates.                                                      the Implementation of Integrated Governance for Financial
4. OJK Regulation No. 18/POJK.03/2014 concerning the                    Conglomerates.
    Implementation of Integrated Governance for Financial           24. OJK Circular Letter No.32/SEOJK.04/2015 concerning
    Conglomerates.                                                      Public Company Governance Guidelines.
5. OJK Regulation No. 33/POJK.04/2014 concerning the                25. OJK Circular Letter No.25/SEOJK.03/2016 concerning
    Board of Directors and Board of Commissioners of Issuer or          Commercial Bank Business Plans.
    Public Company.                                                 26. OJK Circular Letter No. 43/SEOJK.03/2016 concerning
6. OJK Regulation no. 34/POJK.04/2014 concerning                        Transparency and Publication of Conventional Commercial
    Nomination and Remuneration Committees for Issuers or               Bank Reports.
    Public Companies                                                27. OJK Circular Letter No. 13/SEOJK.03/2017 concerning
7. OJK Regulation no. 35/POJK.04/2014 concerning                        Implementation of Governance for Commercial Banks.
    Corporate Secretaries of Issuers or Public Companies            28. Regulation of the Minister of State-Owned Enterprises
8. OJK Regulation No. 31/POJK.04/2015 concerning Disclosure             Number PER-2/MBU/03/2023 concerning Guidelines for
    of Information or Material Facts by Issuer or Public Company.       Governance and Significant Corporate Activities of State-
9. OJK Regulation No. 5/POJK.03/2016 concerning Bank                    Owned Enterprises.
    Business Plans.                                                 29. The Company’s Articles of Association have undergone
10. OJK Regulation No. 37/POJK.03/2019 concerning                       several amendments as most recently amended based on
    Transparency and Publication of Bank Reports.                       the Deed of Statement of Decisions of the Annual General
11. OJK Regulation no. 55/POJK.04/2015 concerning the                   Meeting of Shareholders Number 28 dated March 28,
    Establishment and Guidelines for Implementing the Work of the       2023 made by Ashoya Ratam, S.H., M.Kn., Notary in
    Audit Committee.                                                    South Jakarta which has received approval based on the
12. OJK Regulation no. 56/POJK.04/2015 concerning the                   Ministerial Decree Legal and Human Rights Number AHU-
    Establishment and Guidelines for Preparing the Internal Audit       0023685.AH.01.02. YEAR 2023 on April, 20 2023.
    Unit Charter.
13. OJK Regulation Number 60/POJK.04/2015 concerning                In addition to that, the Company also adopts the best governance
    Disclosure of Information on Certain Shareholders               standards regionally and internationally applicable as best
                                                                    practices and improves the GCG implementation, including:
14. OJK Regulation no. 5/POJK.03/2016 concerning Bank
                                                                    1. Principles of Good Corporate Governance, issued by the
    Business Plans.
                                                                        Organization for Economic Cooperation and Development
15. OJK Regulation no. 29/POJK.03/2016 concerning Annual
                                                                        (OECD).
    Reports of Issuers or Public Companies.                         2. ASEAN Corporate Governance Scorecard issued by ASEAN
16. OJK Regulation no. 11/POJK.03/2016 concerning Ownership             Capital Market Forum (ACMF).
    Reports or Any Changes in Ownership of Public Company           3. Indonesian GCG Guidelines (PUGKI) developed by the
    Shares.                                                             National Committee on Governance Policy (KNKG).
17. OJK Regulation no. 15/POJK.03/2019 concerning Plans             4. Indonesian GCG Banking Guidelines issued by the National
    and Organizing General Meetings of Shareholders of Public           Committee for Governance Policy (KNKG).
    Companies.                                                      5. Principles for Enhancing Corporate Governance issued by
18. OJK Regulation no. 16/POJK.03/2019 concerning                       Basel Committee on Banking Supervision.
    Implementation of Electronic General Meetings of Shareholders
    of Public Companies.




                                                                        PT Bank Tabungan Negara (Persero) Tbk                407
Page 39
                                                          Corporate
                                                          Governance




Objectives and Principles of
Implementation of Governance

The Company is fully aware that the business continuity of a           GCG implementation is performed based on the following five
business entity is not merely measured by financial performance        principles:
and increased profits, but also through internal management of
the Company, including the implementation of effective GCG.            TRANSPARENCY
Thus far, the Company has implemented the GCG principles               Transparency is openness in the decision-making process and
with the purpose and belief that it will ensure the construction       disclosing any relevant information regarding the company.
of comprehensive business balance so that all forms of interest,
both business and social, individuals and groups, internal as          ACCOUNTABILITY
well as external, short and long-term as well as the shareholders      Accountability is clarity of function, implementation, and
and stakeholders interests will reach the balance point. The           organizational responsibility having effective implication to the
implementation of GCG principles is highly necessary in order to       company management.
build a more resilient Company to be able to survive in dealing
with fiercer competition. The Company keeps striving to follow         RESPONSIBILITY
the development of the best GCG practices at the national,             Responsibility is conformity principle referring to the company
regional, and international levels that are relevant and certainly     management in accordance with the applicable provisions in the
adapted to the needs.                                                  context of the company’s internal or external in case regulations
                                                                       related to sound corporate management.
The implementation of corporate governance serves purposes as
follows:                                                               INDEPENDENCE
1. Supporting the Company’s vision, namely “Being Best                 independence is a situation where the company is well-managed
     Mortgage Bank in Southeast Asia in 2025”.                         professionally and can protect from conflicts or external interests
2. Improving the Company’s mission, including:                         of the company that are not in accordance with the provisions of
     a. Actively supporting the government in advancing                regulations and principle of sound corporate management.
         the welfare of the Indonesian people through home
         ownership.                                                    FAIRNESS
     b. Realizing millions of Indonesians dream of owning a            Fairness and equality created in the environment of the company
         decent house to live.                                         or stakeholders taken from agreements between the Company
     c. Becoming the home of Indonesia’s best talent.                  and other related parties and the provisions of regulation.
     d. Increasing shareholder value by focusing on sustainable
         profitability growth as a blue chip company with strong       GCG is a facility used by the Company’s organs to improve
         risk management principles.                                   their business success and accountability so as to realize the
     e. Becoming a financial partner for stakeholders in the           shareholders’ value in the long term while considering the other
         housing ecosystem by providing comprehensive solutions        stakeholders’ interests, in accordance with the applicable laws
         and the best services through digital innovation.             and regulations, and business ethics. The greater the risks, the
3. Providing added benefits and values for shareholders and            implementation of good corporate governance in the Company
     stakeholders.                                                     becomes more essentially required.
4. Maintaining and improving sound and competitive business
     continuity in the long term (sustainable).                        In addition, GCG is a continuous effort to respond proportionally
5. Enhancing investors’ trust in the Company.                          to the needs of the GCG implementation in order to achieve the
                                                                       goal of Moving Beyond Corporate Governance to True Business
                                                                       Value. The Company has become a proud state-owned bank and
                                                                       participates in realizing the progress and prosperity of the nation.
                                                                       In doing so, the Company always manages every business activity
                                                                       professionally and adheres to the GCG principles. To achieve the
                                                                       goals, the Company begins with integrating its human capital
                                                                       with reliability, professionalism, integrity, and good manners.




408         PT Bank Tabungan Negara (Persero) Tbk
Page 40
                                                                                        2023 Annual Report




Commitment on
Corporate Governance Implementation

The Company always strengthens its commitment to implement and uphold GCG principles consistently in the daily course of
business activity, comply with all applicable regulations and legislation, and is always open to improvements in accordance with
best practices to suit the goals, vision, and the Company’s mission, and create added value for the Company for Shareholders
and other stakeholders.


The implementation of good corporate governance (GCG) is an important indicator for shareholders to assess the Company’s
performance and believe that the Company has been well-managed and is can protect the interests of all shareholders.
PT Bank Tabungan Negara (Persero) Tbk. as a State-Owned Enterprise (BUMN) and also a public company, commits to
continuously improve the implementation of good corporate governance in order to understand the expectations of each
shareholder.




                                                                      PT Bank Tabungan Negara (Persero) Tbk              409
Page 41
                                                                  Corporate
                                                                  Governance




Corporate Governance
Implementation

Govenance Framework

Implementation of Corporate Governance can be seen from the alignment of 3 (three) aspects of the governance system, such as
governance structure, governance process, and governance outcome. The three aspects of the governance system have been well-
implemented by the Company.




                                                                        GCG Principles
     Commitment




                      Transparency              Accountability            Responsibility          Independency                  Fairness



                                                Main organs                                      Supporting Organs
   Governance
    Structure




                                                   GMS

                                                                                                  Supporting Organs
                                         Board of Commissioners
                                                                                                Board of Commissioners

                                                                                                Supporting Organs of the
                                                Management
                                                                                                   Board of Directors




                                           Company Policies, Governance Process and Reporting Process Flow
   Governance
     Process




                                                                      GCG implementation

                                                                                                                      Monitoring
                              Internalitation                 Awareness                Eksternalisasi
                                                                                                                    and Evaluation
   Governance
    Outcome




                                         Performance Growth and GCG Assessment Score Improvement
                          (Self Assessment Governance, CGPI, ACGS, Top GRC, GRC & Performance Excellence, and others)




410               PT Bank Tabungan Negara (Persero) Tbk
Page 42
                                                                                         2023 Annual Report




Governance structure is the sufficiency of the Corporate          Guidelines for the Board of Commissioners and Directors
Governance structure and infrastructure so that the process       The Company has Guidelines for the Board of Commissioners
of implementing Corporate Governance principles produces          and Directors, containing as follows:
outcomes that are in line with the expectations of the            1. Organization of the company and assignment of tasks;
Company’s Stakeholders. The governance organ structure            2. Duties, responsibilities, and authority;
includes the Board of Commissioners, Directors, Committees,       3. Work ethics;
and Company Work Units. Meanwhile, the Governance                 4. Meeting arrangements;
infrastructure includes policies and procedures, management       5. Prohibition against the Board of Commissioners and
information systems, and the main tasks and functions of each         Directors;
organizational structure. Governance process is an activity to    6. Evaluation of the performance of the Board of Directors;
implement governance in the Company which is supported            7. Pattern of working relationship between the Board of
by a structured system and optimal monitoring process. Then,          Directors and the Board of Commissioners.
Governance outcome is the result of implementing adequate
governance structures and governance processes.                   These guidelines are used as a reference for the Board of
                                                                  Commissioners and Directors in performing their duties to achieve
Commitment on Governance                                          the Company’s business objectives. The Guidelines for the Board
                                                                  of Commissioners and Directors are explained more clearly in the
The Company is committed to continuously evaluate, improve,       respective Sub-Title of the Board of Commissioners and Directors
increase, and enhance GCG implementation, so that it is in        in the Chapter of Corporate Governance.
line with developments in laws and regulations and the latest
business conditions. The Company’s GCG commitment is              Code of Ethics
embedded in the Company’s vision and mission, core values,        The Company has prepared a Company Code of Ethics as a
and business policy strategies, which are translated into the     guideline regarding business ethics, work ethics, and behavior for
following fundamental elements of the Company’s business,         BTNers in implementing good corporate governance practices,
as follows:                                                       including interacting with stakeholders. The Company’s Code of
                                                                  Ethics applies to all BTNers at all levels of the organization. In
Vision and mission                                                detail, the Code of Ethics is explained in Sub-Title of the Chapter
The Company has a vision that reflects the goal to be achieved,   of Code of Ethics in the Corporate Governance.
namely Best Mortgage Bank in Southeast Asia 2025. To
achieve this goal, the Company has described the goal into        Social and Environmental Responsibility
several missions. The Vision and Mission are explained in         The Social and Environmental Responsibility Program (TJSL)
detail in the Chapter of Company Profile.                         is an activity that is the Company’s commitment to sustainable
                                                                  development. This is performed by providing economic, social,
Company Core Values                                               environmental, legal, and governance benefits with more
In line with efforts to strengthen basic foundations and          integrated, focused, measurable impact principles and can be
build cultural momentum, corporate culture transformation         accountable for and are part of the company’s business approach.
is performed by increasing understanding and capability           Specifically, Social and Environmental Responsibility is detailed in
in implementing AKHLAK to achieve sustainable growth. In          the Chapter of Social and Environmental Responsibility Program.
accordance with the AKHLAK core values, the main behavior
of BTNers can be classified into 8 (eight) main points, as        ISO 37000:2021 Implementation Plan on Governance
follows:                                                          of Organizations
1. Adhering to and complying with the moral values and            The Company is also committed to implementing corporate
     business ethics and applicable regulations;                  governance with plans to adopt ISO 37000:2021 Governance
2. Continuously learning and improving competency;                of Organizations which aims to create added value and
3. Discipline, consistent and thorough in completing tasks with   sustainability for the organization.
     the best quality of performance;
4. Mutually respectful, appreciating, and open to differences;    Governance Structure
5. Responsible and always putting the Corporate’s interest
     ahead;                                                       The Law of Limited Liability Company No. 40 of 2007 states
6. Proactive, effective, and efficient to satisfying customer     that the Company’s Organs consist of the General Meeting of
     needs;                                                       Shareholders, Directors and Board of Commissioners. The GMS,
7. Responsive towards changes and providing opportunity for       Directors and Board of Commissioners respect each other’s duties,
     continuous improvements.;                                    responsibilities and authorities in accordance with regulations
8. Open to competition that delivers added value.                 and the Articles of Association. The Company’s organs are




                                                                      PT Bank Tabungan Negara (Persero) Tbk                     411
Page 43
                                                          Corporate
                                                          Governance




established to ensure that the implementation of corporate                    and vendor management processes, centralization of
governance principles can perform effectively with clear roles                accounting and reporting processes, centralization
and responsibilities so it creates a check and balance control                of cash management through the implementation of
mechanism. In detail, the Governance structure and mechanisms                 Regional Cash Operation Management.
are explained in the Sub-Chapter of Corporate Governance                  j. Optimizing unproductive KCPs through substituting
Structure and Mechanism.                                                      services to Digital Channels by closing unproductive
                                                                              outlets/KCPs.
Governance Process                                                        k. Implementation of a Sales Center tasked with managing
                                                                              Non-Subsidized KPR for the Emerging Affluent Segment.
The Governance Process conducted by the Company is by                     l. Establishment of a BTN MSME credit center whose task
corporate organs and lower levels in performing their functions               is to distribute BTN Micro Credit products, namely KUR
and duties in realizing commitment and governance structure in                and SME Credit up to iDR 500 Million.
order to achieve governance results that are in accordance with           m. Strengthening the BTN Organization through the
Governance principles. The Company’s Governance Process                       implementation of a Strategic Business Unit (SBU).
includes as follows:                                                   4. Social and Environmental Responsibility
1. Implementation of the General Meeting of Shareholders
     (GMS)                                                             Governance Outcome
2. Implementation of the Functions, Duties and Responsibilities
     of the Board of Commissioners and Directors                       1. GCG Assessment (BI/OJK) based on self-assessment results
3. Implementation of Business Process Improvement (BPI) and               with a composite score of rank 2.
     Company Business Activities                                       2. GCG Third Party Assessment (CGPI, ACGS, Top GRC, and
     a. The Company has separated the CRSD Division into CRSD             others).
          1 and CRSD 2 to separate Early Bucket and Late Bucket        3. The 2022 Governance Report.
          management to maintain the quality of the Company’s          4. Sustainable growth in financial performance.
          credit portfolio.                                            5. Establishment of a sustainable integrity system.
     b. The Company has established a Personal Banking Division
          (PBD) to support the achievement of high yield loans.        Improvements in Guidelines and Governance
     c. Establishment of a Human Capital Business Partner              of Preparation of Policies
          (HCBP) which acts as an effective business partner in
          encouraging and ensuring the alignment of Human              The Company through decision of Board of Directors makes
          Capital strategy and operations to meet business             changes of Policy Architecture and Procedures of Bank BTN,
          needs and support corporate strategy.                        effectively prevailing since February 2, 2022. It purposes to
     d. Establishment of the Environmental, Social & Governance        improve governance and internal regulations so that those
          (ESG Department) to support the implementation of            will be more well-organized, not overlapping, effective, and
          sustainable finance principles (SDGs).                       facilitating employees in using the guidelines of daily operational
     e. The Company has established RLPC-BC (Regional                  implementation. The company has developed a special policy
          Loan Processing Center-Business Control), CBC-BC             number KK.9.A dated March 22, 2022 regarding Procedures for
          (Commercial Banking Center-Business Control) and             Governance of Bank Internal Regulations with due observance of
          RBC (Regional Business Control) under the supervision        the following principles:
          of the Regional Office and coordination line to the Risk     1. Ease and Clarity
          Management Work Unit which functions to improve              2. Efficiency and Effectiveness
          supervision and mitigation of Operational Risks of           3. Aligned
          Branch Offices and Regional Offices.                         4. Measurable
     f. The Operational Risk Management Information System             5. Dynamic
          (ORMIS) system has been developed which consists of          6. Oriented to the user or the party being served
          RCSA, LED and KRI in each work unit. Currently it has        7. Legal Compliance
          been implemented in all Regional Offices and Branch          8. Legal Certainty
          Offices.
     g. Implementation of BPI Consumer Credit Phase 2, which           In order to strengthen governance aspects and eliminate
          includes an automatic disbursement process and stock         overlapping regulations and make it easier for employees to
          management.                                                  carry out daily operational activities, the Company needs to
     h. Implementation of Digitalization & Automation Project          carry out transformations, one of which is in the form of internal
          (BPI Consumer Project: Decision Engine).                     regulatory transformation. The intended transformation of internal
     i. Centralization of operational processes to the Regions         regulations is realized in the form of implementing the Internal
          and Head Office, through centralization of procurement       Regulatory Architecture as follows:




412         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                           2023 Annual Report




                                                                     4. Updating KK Number KK.6-E dated December 13, 2023
                                                                        concerning Anti-Bribery Management System Guidelines
                                                                        (ISO 37001:20160.
                                                                     5. Technical Instructions Number PT.6-F.1 dated September 15,
                                                                        2023 concerning Good Corporate Governance Assessment.
                               AD
                                                                     Improvement of Guidelines of Code of Conduct for the Board of
                                                                     Commissioners and Directors
                         Public policy                               1. Guidelines and Rules for the Board of Commissioners
                                                                        Number 05/KOM/BTN/2023 dated December 13, 2023
                                                                        concerning Work Guidelines and Rules for the Board of
                                                                        Commissioners of PT Bank Tabungan Negara (Persero) Tbk.
                         Special policy                              2. Guidelines of Code of Conduct for the Board of Directors
                                                                        through Special Policy Number KK.6-G dated September 12,
                                                                        2023 concerning Guidelines for the Board of Directors.

                     Technical Instructions                          Improvement of the Board of Commissioners Committee Charter
                                                                     and the Board of Directors Committee Policy
                                                                     1. Committee Charter under the Board of Commissioners
                                                                        a. The Audit Committee Charter Number 06/KOM/
                        Good Corporate
 Corporate Culture                             Code of Conduct               BTN/2023 dated December 13, 2023 concerning
                         Governance
                                                                             Guidelines of Code of Conduct for Audit Committee.
                                                                        b. The Remuneration and Nomination Committee Charter
All existing Internal Regulations with old Policy and Procedure              Number 07/KOM/BTN/2023 dated December 13,
Architecture have been transformed into the New Policy and                   2023 concerning Guidelines of Code of Conduct for
Procedure Architecture with the following details:                           Remuneration and Nomination Committee of PT Bank
1. 9 (Nine) General Policies have been issued which have become              Tabungan Negara (Persero) Tbk.
    Umbrella Policies for all Company operational activities.           c. The Risk Monitoring Committee Charter Number 08/
2. 150 (one hundred and fifty) Special Policies (KK) have                    KOM/BTN/2023 dated December 13, 2023 concerning
    been issued which are derivative regulations from General                Guidelines of Code of Conduct for Risk Monitoring
    Policies.                                                                Committee.
3. 239 (two hundred and thirty-nine) Technical Instructions have        2. Committee Charter of the Board of Directors
    been issued which are derivative regulations from Special           a. Special Policy Number KK.9-D dated March 30,
    Policies.                                                                2023concerning Governance Procedures for the Board
                                                                             of Directors Committee
Furthermore, the Company also revoked existing internal
regulations that were no longer valid or no longer used. In          Certification and Surveillance of ISO 37001:2016 Anti-Bribery
this Internal Regulation transformation, Bank BTN also uses a        Management System
digital platform as a means of disseminating the latest Internal     In an effort to maintain the ISO 37001:2016 Anti-Bribery
Regulations which can be accessed by all employees, namely           Management System (SMAP) certificate, the Company conducted
through the PPDigital application. The existence of PPDigital will   an ISO 37001:2016 SMAP recertification audit and surveillance
make it easier for employees to obtain information regarding         audit. On the July 24 to 28, 2023, the Company has succeeded
the latest Internal Regulations and those related to the work and    in maintaining SMAP certification by obtaining a certificate
activities of the employee in question.                              for the recertification audit and surveillance audit by the ISO
                                                                     37001:2016 SMAP Certification Institution in terms of goods
Improvement of Governance Regulation                                 and/or services procurement in the Procurement and Fixed Asset
In 2023, the Company has drafted and renewed the following           Management Division (PFAD), Commercial credit in the Commercial
policies, as follows:                                                Banking Division (CMBD), Corporate Banking Division (CBD),
1. General Policy Number KU.6 dated December 5, 2022                 and Wholesales Credit Risk Division (WRD), and small medium
    concerning Law, Compliance, AML & PPT and Corporate              credit in all Regional Offices at SME Restructuring. In addition,
    Governance.                                                      the Company has expanded the scope of ISO 37001:2016 Anti-
2. Special Policy Number KK.6-F dated August 28, 2023                Bribery Management System (SMAP) to the scope of the Small
    concerning Good Corporate Governance Procedures.                 Medium Enterprise Banking Division (SMBD) and 4 Commercial
3. Special Policy Number KK.6-H dated October 10, 2023               Banking Centers (Jakarta Raya, Bintaro, Bekasi and Bandung). The
    concerning Procedures of Conflicts of Interest Management.       Company is committed to performing continuous improvement in
                                                                     implementing ISO 37001:2016 SMAP to achieve its goal to be free
                                                                     from corruption, collusion, and nepotism.



                                                                         PT Bank Tabungan Negara (Persero) Tbk                  413
Page 45
                                                                                                                  Corporate
                                                                                                                  Governance




Strengthening the Implementation of FSA Guidelines and ASEAN CG SCORECARD
Improving the quality of governance by implementing the ASEAN CG Scorecard is carried out in accordance with the mandate of
OJK Regulation No.21/POJK.04/2015 and OJK Circular Letters No.32/SEOJK.04/2015 as well as international governance best
practices. The issuance of a number of new OJK Regulations during 2023 is certainly a compliance aspect that is always maintained
by the Company. Namely, among other things related to OJK Regulation Number 17 of 2023 concerning the Implementation of
Governance for Commercial Banks and OJK Regulation No. 9 of 2023 concerning the Use of Public Accounting Services and Public
Accounting Firms in Financial Services.


Zero Tolerance to Fraud & Zero Defect Program
The Company has implemented fraud risk management through the implementation of 4 (four) anti-fraud strategy pillars, namely
prevention, detection, investigation, reporting sanctions and monitoring, evaluation and follow-up.


Initiatives of Integrated Governance, Risk, and Compliance (IGRC) Implementation
The Company always performs Compliance Risk Monitoring through the development of compliance dashboard, a compliance with
Compliance Regulatory aspects related to ISO 37001:2016 Anti-Bribery Management System and ISO 37301:2021 Compliance
Management System, as well as increases commitment to encourage the realization of Compliance Culture at all levels of organization
at the Company.




                                                                                    GENERAL MEETING OF SHAREHOLDERS


                                                                     BOARD OF COMMISSIONERS & BOARD OF DIRECTIONS


  1st Line                                  1,5 Line                                                                                   2nd Line                                                             3rd Line


                                                                                                                                                   Compliance
                                                                    Execution
   Branch Office, Sharia Branch Office




                                                                                                                                                    Assurance
                                                                                                                                 Process                                     CMGD
       Divisions, Regional Offices,




                                                                                                                                                                                                              Internal Audit Division
                                                                                                                                                                Governance   Governance   Governance
                                                                                                                                                                 Structure     Process     Outcome
                                              RBC (BBC, CBC)




                                                                                                   Implementasi
                                                                                                     & Praktik




                                                                                                                                       Risk
                                                                                                                                     Inherent
                                                                                                                  & Procedures
                                                                                    Regulations
                                                                       OJK dan BI




                                                                                                                     Policy




                                                                                                                                                         Risk Assurance      ERMD

                                                                                                                                      KPMR
                                                                                                                                                      Policy Manager
                                                                                                                                                                               PPD
                                                                                                                                                Independence Assurance



                                                                         AKHLAK: Core Values and 18 Behavioral Guidelines

      Trustworthy                                              Competent                          Harmonious                                      Loyal                      Adaptive                  Collaborative




414                                      PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                           2023 Annual Report




In 2023, the Company has already obtained an iGRC Self-Assessment, consisting of Governance, Risk Profile, and Profitability, with
Quarter IV iGRC. The Company has also developed iGRC to the implementation stage by incorporating the iGRC Program into Corporate
Culture with the scope of ensuring Compliance Culture and Risk Culture at all organizational levels and businesses of the Company
through sustainable activities.
• Cooperation with Corruption Eradication Commission (KPK) in the Professional Integrity Program (PROFIT)
    Since 2019, the Company has collaborated with the Corruption Eradication Commission (KPK) in the Professional with Integrity
    (PROFIT) movement through activities including (1) participation in training as Integrity Builder Experts (API) to oversee efforts
    to prevent corruption, (2) campaign collaboration programs with KPK on Anti-Corruption through various communication media
    channels, (3) Self-Assessment on Checklist of Adequate Corruption Prevention Guidelines for Corporation, and (4) Anti-Corruption
    Counselor Certification Program (PAKSI).
• Integrity Builder Expert (API) Certification
    Integrity Building Expert Certification (API) is a certified personnel who is competent to build a national standard integrity system
    in efforts to eradicate and prevent corruption organized by the KPK Professional Certification Agency (LSP). In 2023 the Company
    succeeded in carrying out the Integrity Development Expert (API) certification Main Scheme and conducting Integrity Building Expert
    (API) certifications for Senior and Junior Scheme as of 26 people, bringing the total since 2019 to 85 people.
• Anti-Corruption Counselor (PAKSI) Certification
    The company, in supporting programs and efforts to prevent corruption from the Corruption Eradication Committee, participated in Anti-
    Corruption Extension (PAKSI) which involved company employees and representatives of the Association of State Savings Bank Employees
    and Pensioners’ Wives (IIKPA). As of 2022, 22 employees had been certified PAKSI and 5 employees had been certified IIKPA employees.
    Furthermore, in 2023, 8 employees of BTN and 1 person from IIKPA had also been declared competent as Anti-Corruption Instructors by
    the LSP KPK, so that the total PAKSI of Bank BTN until 2023 was 36 people. PAKSI are personnel who are occupationally certified as Anti-
    Corruption Instructor and have the scope of anti-corruption counseling in certain fields and are assigned by their organization to carry out
    anti-corruption counseling activities within the scope of the organization and its organizational network.


The RKAB implementation of Bank BTN for 2023 is formulated into 5 (five) Sustainable Finance Pillars, as follows:




                                                           SUSTAINABLE FINANCE




                                                                                                                                  Social Responsibility
          Product                Procedures & Policies            Human Resources                     Technology
                                                                                                                                    & Environment

 Product development and        Ensure policies and risk       HR capacity in supporting the   Use of digital applications to   Arranging a series of programs,
 operations that take into      mitigation      have    been   implementation of Sustainable   develop bank products and/       including social issues
 account economic, social and   implemented for products and   Finance                         or services
 environmental aspects          /for bank services




                                                                                     PT Bank Tabungan Negara (Persero) Tbk                              415
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                                                              Corporate
                                                              Governance




Corporate Governance
Structure and Mechanism

Company Organ Structure

Republic of Indonesia Law Number 40 of 2007 on Limited Liability Companies stipulates that the Organ of the Company consists of a
General Meeting of Shareholders, the Board of Directors, and the Board of Commissioners. General Meeting of Shareholders, the Board
of Directors, and the Board of Commissioners mutually respect duties, responsibilities, and authorities in accordance with regulations
of the Article of Association. The organ of the Company is established to assure the effective implementation of corporate governance
principles with clear roles and responsibilities so as to create a control mechanism of check and balance.



                                                                              General Meeting of
                                                                              Shareholders (GMS)




                                  Board of Commissioners                       Board of Directors            Sharia Supervisory Board




                                            Secretary
                                                                                Corporate Secretary
                                     Board of Commissioners
      Eksternal Auditor




                                        Audit Committee                     Risk Management Committee         Internal Audit Work Unit




                                    Risk Monitoring Committee               Asset and Liability Committee    Risk Management Work Unit




                                                                                  Credit Committee




                                        Remuneration
                                                                           Credit or Financing Committee       Compliance Work Unit
                                   and Nomination Committee




                                                                           Information Technology Steering
                                                                                                                 Other Work Units
                                                                                     Committee




                                                                             Human Capital Committee            Sharia Business Unit




                                                                                 Business Committee




                                                                                     Committee
                                                                               Transformation Director




                                                                                   ESG Committee




416         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




Governance Soft Structure                                             11. Guidelines of Business Ethics and Code of Conduct ratified
                                                                          in the Regulation of Board of Directors No. 16/PD/
In terms of improving the quality and coverage of the                     CMPD/2015.
implementation of sustainable governance, the Company drafts          12. Special Policy No. KK.6-H dated October 10, 2023,
and applies a governance soft structure regulating the relationship       concerning Procedures of Conflict-of-Interest Handling.
between organs in the Company; hence, duties, responsibilities,       13. Whistleblowing System Management Guidelines through
and authorities of each organ are clear in accordance with the            Technical Instructions Number PT.7-B.2 dated October 31,
provisions of applicable regulations, GCG principles, healthy             2023 concerning Whistleblowing System Management.
business ethics, or best practices. The governance soft structure     14. Special Policy No. KK.6-F dated August 28, 2023,
of the Company is a policy structure used as framework and                concerning Procedures of Good Corporate Governance.
governance in policy drafting as well as the implementation of        15. The update of KK No. KK.6-E dated December 13, 2023,
the Company’s activities, including:                                      concerning Procedures for Implementing Anti-Bribery
1. The Articles of Association of the Bank has been amended               Management System (ISO 37001:2016).
    several times, as last amended based on the Deed of Decision      16. Technical Instructions No. PT.6-F.1 dated September 15,
    of the Extraordinary General Meeting of Stockholders                  2023, about Governance Assessment of Good Corporate
    (EGMS) No. 28 dated March 28, 2023, made by Ashoya                    Governance.
    Ratam, S.H., M.Kn., Notary in South Jakarta and approved          17. The update of technical instructions No. PT.6-E.1 dated
    by the Ministry of Laws and Human Rights of the Republic              December 21, 2023, concerning Procedures for
    of Indonesia, No. AHU-0023685.Ah.01.02.TAHUN 2023                     implementing Anti-Bribery Management System (ISO 37001:
    dated April 20, 2023.                                                 2016).
2. Working Relationship between Board of Commissioners and
    Board of Directors, ratified in the Joint Decree of Board of
    Commissioners No.01/DEKOM-BTN/2021 and Board of                   Corporate Governance Mechanism
    Directors No.01/DIR-BTN/2021.
3. Guidelines of GCG ratified in the Special Policy No. KK.6-F        Shareholders
    dated August 25, 2023, concerning the Guidelines of Good
    Corporate Governance.                                             As one of the State-Owned Enterprises under a public company
4. The Board of Commissioners’ Work Guidelines and Rules              status, the largest shareholder of the Company is the Republic of
    are ratified in Board of Commissioners Decree No. 05/             Indonesia (60,00%), which places the Republic of Indonesia as
    KOM-BTN/2023 as an update to the Board Manual which               the Controlling Shareholder. In addition, the Republic of Indonesia
    becomes a work guideline.                                         also owns 1 (one) share of Series A Dwiwarna providing
5. Guidelines and Manual of Board of Directors through                the holder with privilege rights that are not entitled to other
    Special Policy No. KK.6-G dated September 12, 2023,               shareholders other than the Controlling ShareholderControlling
    about Guidelines and Manual of Board of Directors.                shareholders. Apart from that, 40% of the Company’s shares are
6. Guidelines and Work Procedures of the Audit Committee              owned by the public. The list of shareholders as of December 31,
    Number 06/KOM/BTN/2023 dated December 13, 2023                    2023 is 12,887,145,542 shares consisting of 1 (one) Dwiwarna
    concerning Guidelines and Work Procedures of the Audit            Series A share and 12,887,145,541 Series B shares
    Committee of PT Bank Tabungan Negara (Persero) Tbk.
7. Guidelines and Work Rules of the Remuneration and                  Shareholders’ Rights
    Nomination Committee Number 07/KOM/BTN/2023
    dated December 13, 2023 concerning Guidelines and Work            The Company owns 2 (two) types of shares, namely Series A
    Procedures of the Remuneration and Nomination Committee           Dwiwarna Shares and Series B Shares, with a nominal value
    of PT Bank Tabungan Negara (Persero) Tbk.                         of Rp500 per share. Series A Dwiwarna Shareholder is the
8. Guidelines and Work Procedures of the Risk Monitoring              controlling shareholder and has privileges with the following
    Committee Number 08/KOM/BTN/2023 dated December                   rights and authorities:
    13, 2023 concerning Guidelines and Work Procedures of the         Special Rights and Authorities of Series A Dwiwarna Shareholders
    Risk Monitoring Committee.                                        1. The right to approve in the GMS for the following issues:
9. Special Policy No. KK.9-D dated March 30, 2023,                        a. Approval for amendments to the Articles of Association.
    concerning Governance Procedures of the Board of Directors            b. Approval for Capital changes.
    Committee.                                                            c. Approval for the appointment and dismissal of members
10. Special Policy No. KK.6-A dated April 24, 2022, concerning                 of the Board of Directors and the Board of Commissioners.
    Procedures of Gratification Control and Technical Instructions
    No. PT.6-A.1 dated April 25, 2022, concerning Procedures
    for Implementing the Gratification Control..




                                                                          PT Bank Tabungan Negara (Persero) Tbk                    417
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                                                        Corporate
                                                        Governance




   d. Approval regarding merger, consolidation, acquisition,         2. The right to obtain information regarding the Company in a
       separation, and dissolution.                                     timely, accountably, and orderly manner unless for matters of
   e. Approval for remuneration for members of the Board of             a confidential nature.
       Directors and Board of Commissioners.                         3. The right to receive a share of the Company’s profits intended
   f. Approval for assets transfer based on the Articles of             for Shareholders in the form of dividends and other profit
       Association that requires GMS approval.                          sharing, in proportion to the number of shares owned.
   g. Approval for participation and reduction in the                4. The right to obtain a comprehensive explanation and
       percentage of equity participation in other companies            accurate information on the GMS procedures requirements
       based on the Articles of Association that requires the           Perseroan with the mechanism for exercising the said rights in
       GMS approval.                                                    accordance with the provisions in the Articles of Association
   h. Approval for the use of profits.                                  and statutory regulations
   i. Approval for non-operational long-term investment and          5. In the event that there is more than one type and classification
       financing based on the Articles of Association that              of shares in the Company, each shareholder has the right
       requires the GMS approval.                                       to vote according to the type, classification, and a number
2. The right to nominate candidates for members of the Board of         of shares owned, and each shareholder has the right to be
   Directors and the Board of Commissioners.                            treated equally based on the type and classification of shares
3. The right to propose the GMS agenda.                                 owned.
4. The right to request and access Company data and documents.       6. The right to transfer, release rights or issue a guarantee for
   Apart from the privileges of Series A Dwiwarna Shareholders,         debts from all or most of the Company’s assets that are more
   as long as the Company’s Article of Association does not             than 50% of the total value of the Company’s net assets,
   specify otherwise, the Series A Dwiwarna Shareholder and             either in one separate or several interconnected transactions;
   the Series B Shareholder have the same rights.                       the Board of Directors is required to obtain GMS approval.
                                                                     7. The right to propose GMS agenda items with details:
Equal Rights for Series A Dwiwarna Shareholders and Series B            a. Series A Dwiwarna shareholder;
Shareholders                                                            b. 1 (one) or more shareholders representing 1/20 (one
1. The right to attend, provide opinions, and vote in the GMS                twentieth) or more of the total number of shares that have
   based on one share; the holder is entitled to cast 1 (one)                been issued by the Company with valid voting rights.
   vote.




418        PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                    2023 Annual Report




General Meeting of Shareholders

Process of GMS and Voting Mechanism

The holding of the Company’s GMS refers to the Limited Liability Company Law and OJK Regulation 15/POJK.04/2020 dated April 20,
2020, regarding the Plan and Implementation of the General Meeting of Shareholders of a Public Company and the Company’s Articles
of Association. The stages of holding the GMS are as follows:




 Notification      of  Plan
                                                    Announcement of the holding of                        Invitation to Hold GMS via Mass
 for   Holding     GMS   to
                                                    the GMS via mass media                                Media
 Regulators



No later than 5 (five) working                     No later than 14 (fourteen) days                      No later than 21 (twenty one)
days before the announcement                       before the invitation to the GMS,                     days before the GMS is held,
of the GMS, without taking into                    without taking into account the                       without taking into account the
account the date of the GMS                        date of the announcement and                          date of the invitation and the date
announcement.                                      the date of the invitation.                           of the GMS.




              1                                                   2                                                      3




              6                                                   5                                                      4


                                                    Announcement of Summary of
                                                    GMS Minutes via Mass Media,
     GMS Minutes/Minutes                            Stock Exchange Website, Issuer                          Implementation of the GMS
                                                    Website, and e-GMS Provider
                                                    Website




No later than 30 (thirty) days                     No later than 2 (two) working
                                                                                                            Implementation of the GMS.
after the GMS is held.                             days after the GMS is held.




To provide opportunities for individual and institutional                     The voting mechanism at the GMS has been included in the GMS
shareholders to participate actively in using their rights as                 Rules and Procedures on the Company’s website when calling
shareholders, the Company makes announcements and summons                     for the GMS. Likewise, explanations for each GMS agenda
for the GMS within their respective time periods, at least through            item have been included in the GMS invitation submitted via the
the Stock Exchange website, the e-GMS provider website, and                   Company’s website.
the website Company website in Indonesian and English. The
Company is obliged to determine the place and time for holding                GMS Chairperson
the GMS. The place where the GMS is held must be in the                       The GMS is led by the Chairperson of the GMS with the following
territory of the Republic of Indonesia, that is, it can be held in:           conditions:
1. The Company’s office;                                                      1. The leader of the GMS is a member of the Board of
2. The Company’s business unit;                                                   Commissioners appointed by the Board of Commissioners.
3. The provincial capital of the domicile or place of the                     2. In the event that all members of the Board of Commissioners
     Company’s main business activities; or                                       are absent or unable to attend, the GMS shall be chaired by
4. The province of the Stock Exchange where the Company’s                         a member of the Board of Directors appointed by the Board
     shares are listed.                                                           of Directors.




                                                                                   PT Bank Tabungan Negara (Persero) Tbk                       419
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                                                           Corporate
                                                           Governance




3. In the event that all members of the Board of Commissioners              by shareholders of shares with valid voting rights in the
   or members of the Board of Directors are absent or unable to             quorum of attendance and the decision-making requirements
   attend, the GMS shall be chaired by the shareholders present             set by FSA upon request of the Company.
   at the GMS appointed from and by the GMS participants.
4. In the event that a member of the Board of Commissioners             The quorum as referred to in the item above adjusts the GMS
   appointed by the Board of Commissioners to chair the GMS             agenda as stipulated in the applicable laws and regulations and
   has a conflict of interest with the agenda to be decided at          the Company’s Articles of Association.
   the GMS, the GMS shall be chaired by another member of
   the Board of Commissioners who has no conflict of interest           Procedures of GMS Question and Answer
   appointed by the Board of Commissioners.                             In discussing each GMS agenda item, the Chair of the Meeting
5. In the event that all members of the Board of Commissioners          will provide the Eligible Shareholders or their proxies with the
   have a conflict of interest, the GMS shall be chaired by a           opportunity to submit questions/opinions/suggestions in writing
   member of the Board of Directors appointed by the Board of           before voting is held and after discussion of the GMS agenda items.
   Directors.                                                           Procedure to be followed:
6. In the event that one of the members of the Board of Directors       1. The Chairman of the Meeting will provide the Eligible
   appointed by the Board of Directors to lead the GMS has                   Shareholders or their authorized proxies with the opportunity
   a conflict of interest on the agenda to be decided at the                 to ask questions, express opinions and/or submit
   GMS, the GMS shall be chaired by a member of the Board                    suggestions. At each question and answer session, 3 (three)
   of Directors who does not have a conflict of interest.                    Eligible Shareholders or their authorized proxies will be
7. In the event that all members of the Board of Directors have              given the opportunity to submit written questions/opinions/
   a conflict of interest, the GMS shall be chaired by a non-                suggestions. By considering the questions/opinions/
   controlling shareholder who is elected by the majority of the             suggestions that have been submitted, the Meeting Chair
   other shareholders present at the GMS.                                    can limit the number of questions/opinions/suggestions
8. The Chairperson of the GMS has the right to request that                  submitted
   those present prove their authority to attend the GMS and/or         2. Only Entitled Shareholders or their authorized proxies have
   request power of attorney to represent the shareholders. The              the right to ask questions, express opinions and/or submit
   power of attorney can be accessed through the Company’s                   suggestions
   website in the Investor Relations - GMS - Invitation section.        3. Entitled Shareholders or their authorized proxies who wish
9. The chairman of the GMS has the right to take steps deemed                to ask questions, express opinions and/or make suggestions
   necessary so that the GMS can run smoothly and in an                      are asked to raise their hands, and then the Meeting officer
   orderly manner so that it can fulfill its objectives.                     will hand them a question/opinion/proposal form to fill in
                                                                             the name of the Entitled Shareholder, number of shares.
GMS Quorum                                                                   owned/represented and questions/opinions/suggestions
Based on the Articles of Association, the quorum of attendance               submitted. The question/opinion/suggestion form must be
and resolutions of the GMS on matters that must be decided at                submitted to the Meeting officer to be submitted to the Chair
the Meeting are carried out by following the provisions:                     of the Meeting and first validated by a Notary
1. Attended by shareholders representing more than ½ (one-              4. Every question/opinion/suggestion submitted by the Entitled
    half) of the total shares with valid voting rights and the               Shareholder must meet the requirements that in the opinion of
    decision is valid if approved by more than ½ (one-half) of               the Chair of the Meeting the matter is directly related to the
    the total shares with valid voting rights unless the Law and/or          Meeting agenda item being discussed.
    Articles of Association stipulates a larger quorum.                 5. The Chair of the Meeting will read the questions/opinions/
2. In the event that the quorum of attendance is not achieved,               suggestions submitted and respond to the questions/
    then the second GMS is valid and has the right to make                   opinions/proposals one by one. If necessary, the Chair of
    binding decisions if attended by shareholders representing at            the Meeting will invite members of the Board of Directors or
    least 1/3 (one-third) of the total number of shares with valid           Board of Commissioners of the Company or Institutions and/
    voting rights and the resolution is valid if approved by more            or Supporting Professionals to answer or respond to these
    than ½ (one half) of the total number of shares with voting              questions/opinions/suggestions.
    rights present at the meeting unless the Law and/or Articles        6. After all questions/opinions/suggestions have been
    of Association stipulates a larger quorum.                               answered or responded to, a vote will be held, only Entitled
3. If the quorum of attendance at the second GMS is not                      Shareholders or their legal proxies have the right to vote.
    reached, the third GMS may be held provided that the third
    GMS is valid and has the right to make decisions if attended




420         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                        2023 Annual Report




Annual GMS 2023 Implementation and Realization

           Stages                                                                         Description

                                The Letter Number 151/DIR/CSD/I/2023 dated January 26, 2023 concerning the Submission of the Implementation
                                Date and Agenda of the 2022 Annual GMS of PT Bank Tabungan Negara (Persero) Tbk submitted to the OJK with a copy
 Notification
                                to PT Bursa Efek Indonesia, PT Kustodian Sentral Efek Indonesia , PT Datindo Entrycom, and the Company’s Board of
                                Commissioners.
                                Published on the e-GMS provider website, the Indonesia Stock Exchange website, and the Company website dated
 Announcement
                                February 7, 2023.
                                Published on the e-GMS provider website, the Indonesia Stock Exchange website, and the Company website dated
 Invitation
                                February 22, 2023.
                                The GMS was held on Thursday, dated March 16, 2023 at 14.33 WIB – 17.18 WIB at the BTN Tower Building, 6th floor
 Implementation
                                Jl. Gajah Mada No. 1 Central Jakarta 10130
 Summary of GMS                 Published on the e-GMS provider website, the Indonesia Stock Exchange website, and the Company website dated March
 Minutes                        17, 2023.
                                The Letter Number 508/CSD/RCD/IV/2023 dated April 12, 2023 concerning the Submission of the Deed of Minutes of
 GMS Minutes                    the 2023 Annual General Meeting of Shareholders (AGMS) of PT Bank Tabungan Negara (Persero) Tbk submitted to the
                                OJK dated April 12, 2023.


Recapitulation of Attendance at the 2023 Annual GMS

The meeting was chaired by Chandra M. Hamzah, as the President Commissioner/Independent, in accordance with the decision of the
Board of Commissioners Meeting dated March 08, 2023, which was conveyed by the letter of Board of Commissioners No. 46/KOM/
BTN/III/2023 dated March 08, 2023 concerning the Chairman of the Annual General Meeting of Shareholders Year 2022 of PT Bank
Tabungan Negara (Persero) Tbk, and attended by all members of Board of Commissioners, all members of Board of Directors and all
members of the Company’s Audit Committee, listed as follows:


 No.                      Name                                                     Position                                    Attendance

 1.       Chandra M. Hamzah                        President Commissioner/ Independent                                            Present
 2.       Iqbal Latanro                            Vice-President Commissioner/Independent                                        Present
 3.       Ahdi Jumhari Luddin*                     Independent Commissioner                                                       Present
 4.       Armand B. Arief                          Independent Commissioner                                                       Present
 5.       Sentot A. Sentausa                       Independent Commissioner                                                       Present
 6.       Andin Hadiyanto                          Commissioner                                                                   Present
 7.       Herry Trisaputra Zuna*                   Commissioner                                                                   Present
 8.       Himawan Arief Sugoto                     Commissioner                                                                   Present
 9.       Mohamad Yusuf Permana*                   Commissioner                                                                   Present
 10.      Haru Koesmahargyo                        President Director                                                             Present
 11.      Nixon L.P. Napitupulu                    Vice President Director                                                        Present
 12.      Andi Nirwoto                             Director of IT and Digital                                                     Present
 13.      Elisabeth Novie Riswanti                 Director of Assets Management                                                  Present
 14.      Jasmin                                   Director of Distribution and Funding                                           Present
 15.      Setiyo Wibowo                            Director of Risk Management                                                    Present
 16.      Hirwandi Gafar                           Director of Consumers                                                          Present
 17.      Nofry Rony Poetra                        Director of Finance                                                            Present
 18.      Eko Waluyo                               Director of Human Capital, Compliance and Legal                                Present
 19.      Endang A. Suprijatna                     Member of the Audit Committee                                                  Present
 20.      Peter Eko Budi Darwito                   Member of the Audit Committee                                                  Present
* Attended the meeting via video teleconference.



Independent Vote Counters

The results of decision-making are calculated by PT Datindo Entrycom as Securities Administration Bureau (“BAE”) and then validated by
Notary Ashoya Ratam, S.H., M.Kn, both of whom were appointed by the Company.




                                                                                          PT Bank Tabungan Negara (Persero) Tbk                421
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                                                                   Corporate
                                                                   Governance




Resolutions and Realization of the 2023 Annual GMS


                                                                        First Agenda
 The Approval of Annual Report and the Ratification of the Company’s Financial Statement, and Approval of the Board of Commissioners Supervisory
 Report and the Ratification of Micro and Small Business Funding (PUMK) Program Year 2022. Along with granting full settlement and release of liability
 (volledig acquit et de charge) to all members of the Board of Directors for the Management Actions and all members of the Board of Commissioners for
 the Supervisory Actions carried out during the Fiscal Year of 2022.

 There were 3 (three) shareholders who submitted questions, opinions and/or suggestions regarding the First Agenda of the Meeting. The summary and
 essence of the question and answer process for the agenda item is as follows:


 No.                            Responses/Questions                                                               Answer

        In order to improve the Company's performance and the effectiveness
        of coaching PT Bank Tabungan Negara (Persero) Tbk ("BTN"), we
        hereby convey the response of the Series A Dwiwarna Shareholders
        as follows:
        1.   For the Company's performance achievements in the 2022
             Financial Year, we would like to express our thanks and
             appreciation to all levels of the Board of Commissioners, Directors
             and BTN Employees for:
             a.   Increasing the Company's performance achievements and
                  commitment to maintaining the Bank's sustainability amidst
                  the weakening global economy post the Covid-19 pandemic,
                  including:
                  1)   The Company's Net Profit increased 28.14% yoy or
                       reached IDR 3,045 billion.
                  2)   Total credit grew 8.53% yoy from IDR 274.8 trillion to
                       IDR 298.3 trillion.
                  3)   Third Party Funds grew 8.77% from an achievement of
                       IDR 296.0 trillion in 2021, rising to IDR 321.9 trillion in
                       2022.                                                         Thank you Series A Dwiwarna Shareholders for your response. The
 1.                                                                                  Company will record and follow up on records from Series A Dwiwarna
                  4)   Cost of Funds improved from 3.13% to 2.60%.
                                                                                     Shareholders.
                  5)   Cost efficiency is demonstrated by the decline in the
                       BOPO ratio from 89.28% to 86.00%.
                       These performance achievements should be improved in
                       the next period so that the company can contribute more
                       optimally to shareholder returns.
             b.   The Company's success in implementing the Rights Issue
                  resulted in oversubscription for the portion of public
                  shareholders being 1.6 times. This shows investors' confidence
                  in BTN's future performance prospects, which are expected
                  to continue to grow and be sustainable through increasing
                  housing finance distribution capacity in Indonesia.
        2.   Matters that need attention from BTN's Board of Commissioners
             and Directors to improve performance in the future are as follows:
             a.   Anticipating the uncertain conditions in the global economy
                  in 2023 which will lead to a potential decline in credit
                  demand, an upward trend in interest rates and inflationary
                  pressures, the Company should determine a more selective
                  credit distribution strategy, implement sustainable credit risk
                  management and optimal liquidity management.




422          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                            2023 Annual Report




No.                           Responses/Questions                                                                  Answer

           b.   Anticipating a decline in credit quality due to the end of
                the relaxation period, the Company must maintain an
                adequate coverage ratio through the formation of CKPN by
                taking into account valid and relevant internal and external
                conditions, as well as the possibility of a decline in credit
                portfolio quality beyond predictions. It is hoped that the
                experience of +/-3 (three) years during the pandemic will
                be a lesson learned for BTN in determining strategies and
                managing business risks in the future.
           c.   Sharpening strategies for reducing the cost of funds by
                focusing on low cost funding in low-cost fund products
                (CASA) through optimal service for customers and reliable
                e-channel support as well as re-negotiating and re-profiling
                customer interest rates for 50 Core Depositors during renewal
                to maintain cost of funds at the optimal level.
           d.   Developing e-channels to focus on the most valuable product
                (MVP) which is tailored to customer needs and continuously
                monitoring the conformity between the achievement of
                promised benefits and the quality and time targets that have
                been determined.
           e.   Developing strategies in the retail transaction, e-channel
                transaction and digital mortgage segments as an effort to
                increase fee-based income so as to create a competitive
                advantage in the property and housing financing segment.
           f.   Maintaining commitment to developing ESG initiatives, including
                through the Company's work programs, lending and issuing
                debt securities based on green financing principles.
           g.   Complete follow-up actions on internal and external audit/
                examination findings, optimize the effectiveness of the
                implementation of the three lines of defense in the Company's
                operations, and always prioritize the principles of good
                corporate governance and Anti Money Laundering and Counter-
                Terrorism Financing (AML-CFT) provisions.


                                                                                  1.    The company has the opportunity of 600,000 potential customers
                                                                                        who can be offered top up credit with higher margins (KUR, KAR,
                                                                                        and KRING). Currently the Company is conducting trials with a
                                                                                        simpler and faster process with Teken Aja technology, which does
                                                                                        not go through an application process, but through an offer. This
                                                                                        process is in the process of being finalized and will be rolled out
      1.   What is the synergy of High Yield Loan (KTA) acquisition and                 soon, because it is expected to increase high-margin credit.
           payroll to increase CASA?                                              2.    Regarding CASA, the Company is currently developing several
2.
      2.   Can the NIM be maintained at around 4% with an increased Cost
                                                                                        savings products, namely BTN Bisnis. The growth of this BTN Bisnis
           of Credit / Cost of Funds?
                                                                                        product continues to be pursued, until as of December 31 2022
                                                                                        IDR 2 trillion has been collected. This strategy is in line with the
                                                                                        efforts made by the Company to continue to improve the value
                                                                                        chain related to the housing business
                                                                                  3.    NIM will still be maintained at around 4% - 4.4%. The company
                                                                                        has several high-margin credit products, namely KPR BTN
                                                                                        Subsidized Interest Difference.




                                                                                       PT Bank Tabungan Negara (Persero) Tbk                           423
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No.                             Responses/Questions                                                                    Answer

                                                                                      The first agenda item for the Meeting is related to financial reports
                                                                                      which have taken into account accounting principles and have been
        The Company’s profit amounted to IDR 3.04 trillion because it involved
3.                                                                                    audited by an independent Public Accounting Firm. Before providing
        several loan accounts which were questioned by Shareholders.
                                                                                      an audit opinion, the Public Accounting Firm has discussed with the
                                                                                      regulator. Other matters are not directly related to the Meeting agenda.

Voting Results
Agree : 10,356,519,438 (99.4981302%)
Disagree : 21,062 (0.0002023%)
Abstain : 52,217,346 (0.5016674

Resolutions
1. Approved the Annual Report of the Company including the Board of Commissioners’ Supervisory Task Report for the 2022 fiscal year ending on
   December 31, 2022.
2. Ratified:
   a. Financial Statement of the Company for the 2022 fiscal year ending on December 31, 2022, which was audited by the Public Accounting Firm
         (KAP) of Purwantono, Sungkoro & Surja in accordance with the Report No. 00082/2.1032/AU.1/07/0240-3/1/II/2023 dated February
         17, 2023.
   b. Financial Statement of Micro and Small Business Funding for the 2022 fiscal year ending on December 31, 2022, which was audited by the
         Public Accounting Firm (KAP) of Purwantono, Sungkoro & Surja in accordance with the Report No. 00083/2.1032/AU.2/07/0240-2/1/
         II/2023 dated February 18, 2023, both with reasonable opinions in all the material matters.
3. With the approval of the Company’s Annual Report including the Board of Commissioners’ Supervisory Task Report and the approval of the Company’s
   Financial Statement and the Financial Statement of Micro and Small Business Funding (PUMK) Program, all for the 2022 fiscal year ending on December
   31, 2022, so the AGMS granted full settlement and release of liability (volledig acquit et de charge) to all members of Board of Directors for the
   Management Actions and for all members of Board of Commissioners for the Company’s Supervisory Actions for the 2022 fiscal year ending on December
   31, 2022, as long as these actions did not constitute a criminal act, and these actions are reflected in the aforementioned report.

                                                                        Second Agend
Determination of the Use of the Company’s Net Profit for the 2022 Fiscal Year

There was 1 (one) shareholder who submitted questions, opinions, and/or suggestions, but contained the position that had been decided in the voting.

Voting Results
Agree : 10,403,502,187 (99.9495073%)
Disagree : 21,062 (0.0002023%)
Abstain : 5,234,597 (0.0502903%)

Resolutions
Approved and decided the use of net income of the Company in the 2022 fiscal year amounting to Rp3.045.071.859.198,- (Three trillion forty-five billion
seventy-one million eight hundred fifty-nine thousand one hundred ninety-eight rupiahs) as follows:
1. Divident of 20% (twenty percent) or RP609.014.371.840,- (Six hundred nine billion fourteen million three hundred seventy-one thousand eight hundred
    forty rupiahs) set forth as Cash Dividends and distributed to shareholders which will be paid under the following conditions:
    a. Special for Divident share of the Republic of Indonesia on ownership with 60% (sixty percent) shares amounting to Rp365.408.623.104,- (Three
          hundred sixty-five billion four hundred eight million six hundred twenty-three thousand one hundred four rupiahs) will be deposited to the State General
          Treasury Account in rupiahs.
    b. Divident share of the other shareholders on ownership of 40% (forty percent) of public shares amounting to Rp243.605.748.736,- (Two hundred forty-
          three billion six hundred five million seven hundred forty-eight thousand seven hundred thirty-six rupiahs) will be paid to shareholders proportionally
          according to share ownership.
    c. Granted the authority and power to the Board of Directors of the Company with substitution rights to determine the schedules and procedures for the
          distribution of the dividends of the 2022 Fiscal Year in accordance with applicable laws and regulations.
      Status: Realized

2.    As much as 80% (eighty percent) or Rp. 2.436.057.487.358,- (Two hundred forty-three billion six hundred five million seven hundred forty-eight thousand
      seven hundred thirty-six rupiahs) will be used as Retained Earnings.

                                                                        Third Agenda
Determination of remuneration (salary/honorarium, facilities, and allowances) in 2023 and Tantiem for the Fiscal Year of 2022 for the Board of Directors
and Board of Commissioners of the Company.

The Minutes of Meeting stated that there was no questioner in the third agenda of the meeting.

Voting Results
Agree : 10,403,002,553 (99.9447072%)
Disagree : 531,596 (0.0051072%)
Abstain : 5,223,697 (0.0501856%)

Resolutions
1. Granted the authority and power to the Series A Dwiwarna Shareholders to determine the amount of tantiem for the 2022 Fiscal Year and salary/
   honorarium, facilities, and allowances for 2023 for the members of Board of Commissioners.
2. Granted the authority and power to the Company’s Board of Commissioners by first obtaining written approval from the Series A Dwiwarna
   Shareholders to determine the amount of tantiem for the 2022 Fiscal Year and salary/honorarium, facilities, and allowances for 2023 for the
   members of the Board of Directors.




424           PT Bank Tabungan Negara (Persero) Tbk
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                                                                     Fourth Agenda
Appointed Public Accountant (AP) and/or Public Accounting Firm (KAP) to audit the Company’s Financial Statement and Financial Statement of Micro
and Small Business Funding (PMK) Program for the 2023 Fiscal Year.
The Minutes of Meeting stated that there was no questioner in the fourth agenda of the meeting.
Voting Results
Agree : 9,952,426,675 (95.6158921%)
Disagree : 451,099,682 (4.3338474%)
Abstain : 5,231,489 (0.0502605%)
Resolutions
1. Appointed Public Accounting Firm (KAP) Purwantono, Sungkoro & Surja (Ernst & Young Global Limited) as the Public Accounting Firm to audit the
   Company’s Financial Statement and Financial Statement of Micro and Small Business Funding (PUMK) Program and other reports for the 2023 Fiscal
   Year.
2. Granted the authority and power to the Company’s Board of Commissioners to appoint a Public Accounting Firm to audit the Company’s Financial
   Statement of other periods in 2023 Fiscal Year for the purposes and interests of the Company.
3. Granted the authority and power to the Company’s Board of Commissioners to determine the fees and other requirements for the Public Accounting,
   and determine the substitute of Purwantono, Sungko & Surja (Ernst & Young Global Limited), for any reason unable to complete the Company’s
   Financial Statement and the Financial Statement of Micro and Small Business Funding (PUMK) Program for the 2023 Fiscal Year, as well as to
   determine the fees and other requirement for the substitute of Public Accounting Firm.

                                                                      Fifth Agenda
Approval of the Company’s Resolution Plan.

The Minutes of Meeting stated that there was no questioner in the fifth agenda of the meeting.

Voting Results
Agree: 10,403,476,130 (99.9492570%)
Disagree: 38,600 (0.0003708%)
Abstain: 5,243,116 (0.0503722%)

Resolutions
Approved the Resolution Plan Year 2022-2024 which has been prepared by the Company in accordance with Law No. 9 of 2016 concerning Prevention
and Handling of Financial System Crisis as amended by Law No. 4 of 2023 concerning Development and Strengthening of the Financial Sector and
Deposit Insurance Corporation (LPS) Regulation No. 1 of 2021 concerning Resolution Plans for Commercial Banks.

                                                                      Sixth Agenda
The Report of Realization of Use of Proceeds from Public Offering of Bank BTN Sustainable Bonds IV Phase II Year 2022 and Additional Capital with
Pre-emptive rights through the Limited Public Offering II (PMHMETD II)

The sixth agenda item was a report, so there was no question-and-answer session.

Voting Results
The sixth agenda item was a report, so no decisions were made.

Resolutions
The sixth agenda item was report, so no decisions were made.

                                                                    Seventh Agenda
Approval of the Amendment of the Company’s Articles of Association.

The Minutes of Meeting stated that there was no questioner in the seventh agenda of the meeting.

Voting Results
Agree : 9,301,715,765 (89.3643209%)
Disagree : 1,101,810,492 (10.5854177%)
Abstain : 5,231,589 (0.0502614%)

Resolutions
1. Approved the amendment of the Article of Association of the Company concerning:
    a. Adjustments to provisions relating to the Company’s business activities as intended in Article 3 of the Company’s Articles of Association
         refer to Republic of Indonesia Law No. 4 of 2023 concerning Development and Strengthening of the Financial Sector, and Central
         Statistics Agency Regulation No. 2 of 2022 concerning Standard Classification of Indonesian Business Fields.
    b. Completion of the Company’s Articles of Association in accordance with statutory provisions.
2. Approved the restatement of the entire provisions of Article of Association concerning the amendment as mentioned in point 1 (one) above.
3. Granted the power and authority to the Company’s Board of Directors with the right of substitution to perform any necessary actions concerning the
    resolutions of the Meeting’s Agenda, including organizing and restating the entire Article of Association in a Notarial Deed, and granted power
    with the right of substitution to submitting it to the competent authority to obtain the approval and/or the receipt of notification of the amendment of
    Article of Associations of the Company, performing any necessary action for such requirements without any exception, including making addition
    and/or amendments of the Company’s Articles of Association as required by the competent authority.




                                                                                      PT Bank Tabungan Negara (Persero) Tbk                          425
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                                                                     Eighth Agenda
Changes in the Composition and Determination of Remuneration for the Sharia Supervisory Board of the Company’s Sharia Business Unit (USS).

The Minutes of Meeting stated that there was no questioner in the eighth agenda of the meeting.

Voting Results
Agree : 9,272,476,500 (89.0834107%)
Disagree : 1,131,049,757 (10.8663279%)
Abstain : 5,231,589 (0.0502614%)

Resolutions
1. Approved and ratified the honourable dismissal of Muhammad Quraish Shihab as the Chairman of the Company’s Sharia Supervisory Board and
   Mohammad Hidayat as Member of the Company’s Sharia Supervisory Board, with gratitude and appreciation for his contribution of work and insight
   provided during his tenure.
2. Approved and ratified the reappointment of Muhammad Quraish Shihab as the Chairman of the Company’s Sharia Supervisory Board of the second
   period and effective after receiving the approval from the Financial Service Authority.
3. The term of office of members of the Company’s Sharia Supervisory Board as referred to in the second point above ends until the closing of the 5th Annual
   GMS since the relevant appointment, namely AGMS held in 2028, considering the laws and regulations and without reducing the right of the AGMS to
   dismiss at any time.
4. Approved the delegation of authority to the Company’s Board of Commissioners to appoint other Members of the Sharia Supervisory Board if necessary
   to complete the composition of the Sharia Supervisory Board members and determine the remuneration of the Company’s Sharia Supervisory Board in the
   context of supervising the Company’s business activities based on sharia principles.
2. Granted power and authority to the Company’s Board of Directors with the right of substitution to perform any necessary actions concerning the resolutions
   of the Meeting’s Agenda in accordance with the statutory regulations, including to declare in a separate Notarial Deed and notify the composition of the
   Company’s Sharia Supervisory Board to the Minister of Law and Human Rights.

                                                                      Ninth Agenda
Changes in the Composition of the Company’s Management.

The Minutes of Meeting stated that there was no questioner in the ninth agenda of the meeting.

Voting Results
Agree : 9,268,759,831 (89.0477036%)
Disagree : 1,134,636,387 (10.9007857%)
Abstain : 5,361,628 (0.0515107%)

Resolutions
1. Ratified the honourable dismissal of Haru Koesmahargyo as the Company’s President Director appointed by the resolution of the Extraordinary
   General Meeting of Shareholders in the year 2020, effective as of March 10, 2021, starting from the closing of the GMS, with gratitude and
   appreciation for his contribution of work and insight provided during his tenure as the Company’s Management.

2.   Transferred duties of Nixon L. P. Napitupulu who was appointed by the resolution of the Extraordinary General Meeting of Shareholders in the year
     2021, effective as of March 2, 2022, originally as Vice President Director, he became President Director of the Company, with the term of office
     continuing with the remaining term of office in accordance with the GMS Resolution on the appointment of the person concerned.
3.   Appointed the following names as the Company’s Management Team:
     a. Oni Febriarto Rahardjo – as Vice President Director;
     b. Hakim Putratama – as Director of Institutional Banking
4.   The term of office for the Board of Directors who were appointed as referred to no. 3 is following the regulations of the Articles of Association of the
     Company, the prevailing Capital Market regulations, and without prejudice to the right of the General Meeting of Shareholder to dismiss them at
     any time.
5.   With the dismissal, transfer of duties and appointment of members of the Board of Directors as referred to in no. 1, no. 2, and no. 3, the composition
     of the membership of the Company’s Board of Directors is as follows:
     a. President Director: Nixon L.P. Napitupulu
     b. Vice President Director: Oni Febriarto Rahardjo
     c. Director of Finance: Nofry Rony Poetra
     d. Director of Assets Management: Elisabeth Novie Riswanti
     e. Director of Human Capital, Compliance, & Legal: Eko Waluyo
     f. Director of Risk Management: Setiyo Wibowo
     g. Director of Distribution & Funding: Jasmin
     h. Director of IT & Digital: Andi Nirwoto
     i. Director of Consumer: Hirwandi Gafar
     j. Director of Institutional Banking: Hakim Putratama
6.   Members of the Board of Directors who were transferred as mentioned in number 2 and appointed as mentioned in number 3 can only perform their
     duty upon approval from the Financial Services Authority (OJK) concerning Fit and Proper Test and in compliance with the prevailing regulations. If
     any Member of the Board of Directors of the Company is not approved as Member of Board of Directors in Fit and Proper Test conducted by FSA,
     such Member of Board of Directors of the Company shall be discharged as of the date of such Fit and Proper Test result issued by FSA.
7.   The appointed members of the Board of Directors as mentioned in number 3 who hold another position that is not allowed by prevailing regulations
     to be held concurrently with the position of Member of Board of Directors of State-Owned Enterprise, shall resign or be discharged from such
     position.
8.   Requested the Board of Directors to submit a request in writing to FSA to perform Fit and Proper Test for the member of Board of Directors who was
     transferred as mentioned in number 2 and was appointed as mentioned in number 3.
9.   Granted the power with the right of substitution to the Board of Directors of the Company to state the Meeting’s Resolution in Notarial Deed, to
     appear before a Notary or authorized official, and to do any necessary adjustments or corrections as required by any competent authorities for the
     execution of this Meeting’s Resolutions.




426          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                        2023 Annual Report




Implementation of the 2023 Extraordinary GMS and its Realization

          Stages                                                                        Details

                             Letter Number 704/DIR/CSD/XI/2022 dated November 24, 2022 concerning Submission of the Implementation Date and
 Notification                Agenda for the Extraordinary GMS of PT Bank Tabungan Negara (Persero) Tbk submitted to the OJK with copies of PT Bursa
                             Efek Indonesia, PT Kustodian Sentral Efek Indonesia, PT Datindo Entrycom, and the Board of Commissioners of the Company.

                             Published on the e-GMS provider website, the Indonesia Stock Exchange website, and the Company website dated December
 Announcement
                             5, 2022.

                             Published on the e-GMS provider website, the Indonesia Stock Exchange website, and the Company website dated December
 Summon
                             20, 2022.

                             The GMS was held on Wednesday, dated January 11, 2023 at 14.36 WIB – 15.10 WIB at the BTN Tower Building, 6th
 Implementation
                             floor Jl. Gajah Mada No. 1 Central Jakarta 10130.

 Announcement of the
                             Published on the e-GMS provider website, the Indonesia Stock Exchange website, and the Company website dated January
 Summary of Minutes of
                             12, 2023.
 the GMS

                             Letter Number 91/CSD/RCD/II/2023 dated February 3, 2023 concerning Submission of the Deed of Minutes of the 2023
 Minutes of the GSM          Extraordinary General Meeting of Shareholders (EGMS) of PT Bank Tabungan Negara (Persero) Tbk submitted to the OJK
                             dated February 3, 2023.


Recapitulation of Attendance at the 2023 Extraordinary GMS

The 2023 Extraordinary GMS was attended by all members of the Board of Commissioners, all members of the Board of Directors and
all members of the Company’s Audit Committee as follows


 No.                    Name                                                 Position                                          Attendance

 1.     Chandra Hamzah                       President Commissioner/Independent                                                   Present

 2.     Iqbal Latanro                        Vice President Commissioner/Independent                                              Present

 3.     Ahdi Jumhari Luddin                  Independent Commissioner                                                             Present

 4.     Armand B. Arief                      Independent Commissioner                                                             Present

 5.     Sentot A. Sentausa                   Independent Commissioner                                                             Present

 6.     Andin Hadiyanto                      Commissioner                                                                         Present

 7.     Herry Trisaputra Zuna                Commissioner                                                                         Present

 8.     Himawan Arief Sugoto                 Commissioner                                                                         Present

 9.     Haru Koesmahargyo                    President Director                                                                   Present

 10.    Nixon L.P. Napitupulu                Vice President Director                                                              Present

 11.    Nofry Rony Poetra                    Director of Finance                                                                  Present

 12.    Eko Waluyo                           Director of Human Capital, Compliance and Legal                                      Present

 13.    Setiyo Wibowo                        Director of Risk Management                                                          Present

 14.    Jasmin                               Director of Distribution and Funding                                                 Present

 15.    Andi Nirwoto                         Director of IT and Digital                                                           Present

 16.    Hirwandi Gafar                       Director of Consumers                                                                Present

 17.    Elisabeth Novie Riswanti             Director of Assets Management                                                        Present

 18.    Adi Prakoso                          Audit Committee Member                                                               Present

 19.    Peter Eko Budi Darwito               Audit Committee Member                                                               Present



Independent Vote Counters

The vote count was carried out by an independent party appointed by the Company, namely PT Datindo Entrycom as the Securities Administration
Bureau and subsequently validated by Notary Yumna Shabrina, S.H. M.Kn. as Subtitute Notary of Ashoya Ratam, SH, M.Kn.




                                                                                    PT Bank Tabungan Negara (Persero) Tbk                      427
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                                                                  Governance




Resolutions and Realization of the 2023 Extraordinary GMS


                                                                         Agenda

 Approval of Changes in the Company’s Management Composition.

 The Minutes of Meeting stated that there was no questioner in the agenda of the meeting.

 Voting Results
 Agree : 6.571.532.367 (88,5436487%)
 Disagree : 826.139.714 (11,1312584%)
 Abstain : 24.127.749 (0,3250930%)


 Resolutions
 1. Confirmed the honourable dismissal of Mr. Heru Budi Hartono as Commissioner of the Company appointed based on the 2019 EGMS dated
    November 27, 2019, effective October 17, 2022, with gratitude for the contribution of energy and thoughts given while serving as Commissioner
    of the Company.
 2. Apponited Mr. Mohammad Yusuf Permana as Commissioner of the Company.
 3. Honourably dismissed Mr. Andi Nirwoto as Director of IT & Digital appointed based on the 2018 GMS dated March 23, 2018 jo. EGMS 2019
    dated November 27, 2019 jo. Annual GMS for Fiscal Year 2021 dated March 2, 2022, with gratitude for the contribution of energy and thoughts
    given while serving as Management of the Company.
 4. Appointed Mr. Andi Nirwoto as Director of IT & Digital.


 5.  The term of office of members of the Board of Commissioners and Board of Directors appointed as referred to in points 2 and 4, in accordance with
     the provisions of the Company’s Articles of Association, taking into account the laws and regulations in the Capital Market and without prejudice to
     the right of the GMS to dismiss at any time.
 6. With the confirmation of the dismissal and appointment of members of the Board of Commissioners and Board of Directors as referred to in points
     1, 2, 3, and 4, the composition of the membership of the Company’s Board of Commissioners and Directors shall be as follows:
     a. Board of Commissioners
          − President Commissioner/Independent Commissioner: Chandra Hamzah
          − Vice President Commissioner/Independent Commissioner : lqbal Latanro
          − Commissioner : Andin Hadiyanto
          − Commissioner : Herry Trisaputra Zuna
          − Commissioner : Himawan Arief Sugoto
          − Commissioner : Mohamad Yusuf Permana
          − Independent Commissioner : Armand B. Arief
          − Independent Commissioner : Ahdi Jumhari Luddin
          − Independent Commissioner : Sentot A. Sentausa
     b. Board of Directors
          − President Director : Haru Koesmahargyo
          − Vice President Director : Nixon L.P. Napitupulu
          − Director of Finance : Nofry Rony Poetra
          − Director of Assets Management : Elisabeth Novie Riswanti
          − Director of Human Capital, Compliance, & Legal : Eko Waluyo
          − Director of Risk Management : Setiyo Wibowo
          − Dirctor of Distribution & Funding : Jasmin
          − Director of IT & Digital : Andi Nirwoto
          − Director of Consumer : Hirwandi Gafar
 7. The appointed members of the Board of Commissioners and Directors as referred to in points 2 and 4 can only carry out their duties after obtaining
     approval from the Financial Services Authority (FSA) for the Fit & Proper Test and complying with applicable laws and regulations. If the Board of
     Commissioners or Board of Directors of the Company is later declared disapproved as member of the Board of Commissioners or Board of Directors
     in the Fit & proper test by FSA, the member of the Board of Commissioners or Board of Directors of the Company is honourably dismissed from the
     date of the decision of the FSA Fit & Proper Test results.
 8. The appointed members of the Board of Commissioners and Board of Directors as referred to in points 2 and 4 who are still holding in other positions
     prohibited by laws and regulations to be concurrently serving as members of the Board of Commissioners of State-Owned enterprises, the person
     concerned must resign or be dismissed from their positions.
 9. Requested the Board of Directors to submit the written application to Financial Services Authority for the performance of the Fit and Proper Test to the
     appointed members of the Board of Directors and Baord of Commissioners as referred to in point 2 and 4.
 10. Granted authority to the Board of Directors of the Company to restate the resolutions taken in this GMS in the form of a Notarial Deed and appear
     before a Notary or authorized official, and prepare the necessary adjustments or corrections as required by the competent authority for the
     implementation of contents of the meeting resolutions.




428          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                  2023 Annual Report




Implementation of the 2022 GMS and its Realization

                Stages                                                                  Details

                                   Letter Number 07/DIR/CSD/I/2022 dated January 12, 2022 concerning Notification of Implementation Date and
 Notification                      Agenda of the Annual GMS of PT Bank Tabungan Negara (Persero) Tbk was submitted to the FSA with a carbon
                                   copy to PT Bursa Efek Indonesia, PT Kustodian Sentral Efek Indonesia, dan PT Datindo Entrycom.

                                   Published through the e-GMS provider website, Indonesia Stock Exchange website , dan the Company’s website
 Announcement
                                   on Monday, January 24, 2022.

                                   Published through the e-GMS provider website, Indonesia Stock Exchange website, and Bisnis Indonesia daily
 Summon
                                   newspaper on Tuesday, February 8, 2022.

                                   The GMS was held on Wednesday, March 2, 2022 at 10.36 WIB – 14.08 WIB at Menara BTN Building, 6th floor
 Implementation
                                   Jl. Mada No. 1 Jakarta Pusat 10130.

 Announcement of the Summary of    Published through the e-GMS provider website, Indonesia Stock Exchange website, and the Company’s website
 Minutes of the GMS                on March 4, 2022.

                                   Letter Number 175/CSD/CMA/III/2022 dated March 28, 2022 concerning the Submission of the Deed of
 Minutes of the GMS                Minutes of the Annual GMS for Fiscal Year 2021 of PT Bank Tabungan Negara (Persero) Tbk was submitted to
                                   FSA with a carbon copy to PT Bursa Efek Indonesia on March 28, 2022.




Recapitulation of Attendance at the 2022 GMS


 No.                     Name                                             Position                                      Attendance
 1.     Chandra M. Hamzah                 President Commissioner/Independent                                               Present
 2.     Iqbal Latanro                     Vice President Commissioner/Independent                                          Present
 3.     Ahdi Jumhari Luddin               Independent Commissioner                                                         Present
 4.     Armand B. Arief                   Independent Commissioner                                                         Present
 5.     Eko Djoeli Heripoerwanto          Commissioner                                                                     Present
 6.     Heru Budi Hartono                 Commissioner                                                                     Present
 7.     Andin Hadiyanto                   Commissioner                                                                     Present
 8.     Haru Koesmahargyo                 President Director                                                               Present
 9.     Nixon L.P. Napitupulu             Vice President Director                                                          Present
 10.    Nofry Rony Poetra                 Director of Finance, Planning and Treasury                                       Present
 11.    Elisabeth Novie Riswanti          Director of Wholesale Risk and Asset Management                                  Present
 12.    Eko Waluyo                        Director of Compliance and Legal                                                 Present
 13.    Setiyo Wibowo                     Director of Risk Management and Transformation                                   Present
 14.    Jasmin                            Director of Distribution and Retail Funding                                      Present
 15.    Andi Nirwoto                      Director of Operations, IT, and Digital Banking                                  Present
 16.    Hirwandi Gafar                    Director of Consumer and Commercial Lending                                      Present
 17.    Adi Prakoso                       Audit Committee Member                                                           Present
 18.    Peter Eko Budi Darwito            Audit Committee Member                                                           Present



Independent Vote Counters

The results of the decision-making are calculated by PT Datindo Entrycom as the Securities Administration Bureau (“BAE”) appointed by
the Company and further validated by Notary Ashoya Ratam, SH, MKn.




                                                                                 PT Bank Tabungan Negara (Persero) Tbk                 429
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                                                                   Governance




Resolutions and Realization of The 2022 Annual GMS


                                                                       First Agenda
 Approval of the Annual Report and Ratification of the Company’s Financial Statements, Approval of the Board of Commissioners’ Supervisory Report
 and ratification of the Annual Report on the Implementation of the Company’s Social and Environmental Responsibility Program for the financial year
 ended December 31, 2021, as well as granting full repayment and release of responsibility (volledig acquit et de charge) to the Board of Directors for
 the management actions of the Company and the Board of Commissioners for the Company’s supervisory actions that have been carried out during the
 2021 Financial Year.
 There was no questioner in the discussion of the first agenda of the Meeting, but there was a response from Series A Dwiwarna shareholders.
 Voting Results
 Agree : 7,986,413,743 (99.8468633%)
 Disagree : 200 (0.0000025%)
 Abstain : 12,248,691 (0.1531342%)
 Resolutions
 1. Approved the Company’s Annual report including the Report on Supervisory Duties that have been carried out by the Board of Commissioners for
    the fiscal year 2021, and ratify the Company’s Financial Statements which include the Report on the Implementation of Social and Environmental
    responsibility programs, which ended on December 31, 2021 and had been audited by Purwantono, Sungkoro & Surja Public Accounting Firm
    based on the report No. 00054/2.1032/AU.1/07/0240-1/1/II/2022 dated February 7, 2022, with a fair opinion in all material aspects.
 2. Received the Financial Statements and Implementation of the Micro and Small Business Funding Program (PMUK) which ended on December 31,
    2021 and had been audited Purwantono, Sungkoro & Surja Public Accounting Firm according to Report No. 00053/2.1032/AU.2/07/0240-
    1/1/II/2022 dated February 7, 2022 with a fair opinion in all material aspects.
 3.   For the approval of the Company’s Annual report, including the Report on the Supervisory Duties of the Board of Commissioners, and the ratification
      of the Financial Statements which include the Report on the Implementation of Social and Environmental Responsibility Programs and Financial
      Statements on the Implementation of Micro and Small Business Funding Programs for the financial year ended December 31, 2021, the GMS
      provides full repayment and release of responsibility (volledig acquit et de charge) to all members of the Board of Directors for the management
      actions of the Company and to all members of the Board of Commissioners for supervisory actions that have been carried out during the financial
      year ended December 31, 2021, including the management and supervision of the SOE Social and Environmental Responsibility Program ended
      on December 31, 2021, as long as such actions are not criminal offences and are reflected in the aforementioned Report.
                                                                     Second Agenda
 Determination for the use of the Company’s Net Profit for Fiscal Year 2021.
 There were no questioners in the discussion of the second agenda item of the Meeting.
 Voting Results
 Agree : 7,988,462,434 (99.8724762%)
 Disagree : 10,200,200 (0.1275238%)
 Abstain : 0 (0%)
 Resolutions
 Approved and determined the use of the Company’s net profit for the Fiscal Year of 2021 Rp2,376,225,756,803,- (two trillion three hundred seventy-six
 billion two hundred twenty-five million sevenhundred fifty-six thousand eight hundred and three rupiah) as follows:
 1. 10% (ten percent) or Rp237,622,575,680,- (two hundred thirty-seven billion six hundred twenty-two million five hundred seventy-five thousand six
       hundred and eighty rupiah) shall be determined as cash Dividends to shareholders to be paid under the following conditions:
       a. Specifically, the dividend of the Government portion of 60% (sixty percent) ownership of shares amounting to Rp142,573,545,408,- (one
           hundred forty-two billion five hundred seventy-three million five hundred forty-five thousand four hundred and eight rupiah), will be deposited
           into the State General cash Account.
       b. Granted authority and power to the Board of Directors of the Company with the right of substitution to determine the schedule and procedure
           for dividend distribution for Fiscal year 2021 in accordance with the applicable regulations.
 2. 90% (ninety percent) or Rp2,138,603,181,123,- (two trillion one hundred thirty-eight billion six hundred three million one hundred eighty-one
       thousand one hundred twenty-three rupiah) was determined as the balance of Retained Earnings.
                                                                       Third Agenda
 Appointment of a Public Accounting Firm (KAP) to audit the Company’s Financial Statements and Financial Statements for the Implementation of Social
 and Environmental Responsibility Programs for Fiscal Year 2022 .
 There were no questioners in the discussion of the third agenda item of the Meeting.
 Voting Results
 Agree : 7,660,751,562 (95.7754054%)
 Disagree : 337,911,072 (4.2245946%)
 Abstain : 0 (0%)
 Resolutions
 1. Appointed a Public Accounting Firm (KAP) Purwantoro, Sungkoro & Surja, as a Public Accounting Firm that will audit the Company’s Financial
    Statements as well as the Financial Statements and Implementation of Micro and Small Business Funding Programs (PUMK) and other reports for
    Fiscal Year 2022.
 2. Granted authority and power of attorney to the Board of Commissioners of the Company to appoint a Public Accounting Firm to audit the Company’s
    Financial Statements for other periods in the Financial Year 2022 for the purposes and interests of the Company
 3. Delegated the authority to the Board of Commissioners of the Company to determine the audit service fee and other requirements for the Public Accountant,
    as well as determine a replacement Public Accounting Firm in the case of Purwantoro, Sungkoro & Surja Public Accountants, due to any reasons
    whatsoever, is unable to completely audit the Company’s financial statement and the financial report of Partnership and Community Development Program
    for the fiscal year of 2022, including to determine the honorarium and other requirements for the substitute Public Accounting Firm.




430           PT Bank Tabungan Negara (Persero) Tbk
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                                                                   Fourth Agenda
Determination of remuneration/ income (salary/ honorarium, facilities and benefits) for 2022, as well as tantiem for Fiscal Year 2021 for the Board of
Directors and Board of Commissioners of the Company.
There were no questioners in the discussion of the fourth agenda item of the Meeting.
Voting Results
Agree : 7,866,975,417 (98.3536421%)
Disagree : 131,686,617 (1.643579%)
Abstain : 600 (0.0000075%)
Resolutions
1. Granted authority and power of attorney to Series A Dwiwarna Shareholders to determine for members of the Board of Commissioners the amount of
   tantiem for the performance of Fiscal Year 2021 and salary/ honorarium, facilities and allowances for Year 2022.
2. Granted authority and power of attorney to the Board of Commissioners of the Company by first obtaining written approval from Series A Dwiwarna
   Shareholders to determine for members of the Board of Directors the amount of tantiem for Fiscal Year 2021 and salary/ honorarium, facilities and
   allowances for Year 2022.
                                                                     Fifth Agenda
Approval of the Company’s Recovery Plan according to the OJK Regulation Number 14/POJK.03/2017 concerning recovery Plan for Systemic Banks.
There were no questioners in the discussion of the fifth agenda item of the Meeting.
Voting Results
Agree : 7,998,662,434 (99.9999975%)
Disagree : 200 (0.0000025%)
Abstain : 0 (0%)
Resolutions
Approved the Company’s Action Plan Update in order to comply with the regulations of the OJK Regulation Number 14/POJK.03/2017 dated April 4,
2017concerning the Recovery Plan for Systemic Banks.
                                                                    Sixth Agenda
Confirmation of enforcement of:
a. Regulation of the Minister of State-Owned Enterprises of the Republic of Indonesia Number PER-05/MBU/04/2021 dated April 8, 2021 concerning
   the Social and Environmental Responsibility program of State-Owned Enterprises;
b. Regulation of the Minister of State-Owned Enterprises of the Republic of Indonesia Number PER-11/MBU/07/2021 dated July 30, 2021, concerning
   requirements, Procedures for Appointment, and Dismissal of Members of the Board of Directors of State-Owned Enterprises; and
b. Regulation of the Minister of State-Owned Enterprises of the Republic of Indonesia Number PER-13/MBU/09/2021 dated September 24, 2021
   concerning the Sixth Amendment to the Regulation of the Minister of State-Owned Enterprises Number PER-04/MBU/2014 concerning Guidelines
   for Determining the Income of the Board of Directors, Board of Commissioners, and Supervisory Board of State-Owned Enterprises.
There were no questioners in the discussion of the sixth agenda item of the Meeting.
Voting Results
Agree : 7,998,662,434 (99.9999975%)
Disagree : 200 (0.0000025%)
Abstain : 0 (0%)
Resolutions
Confirmation of enforcement of:
a. Regulation of the Minister of State-Owned Enterprises of the Republic of Indonesia Number PER-05/MBU/04/2021 dated April 8, 2021 concerning
    the Social and Environmental responsibility Program of State-Owned Enterprises and the amendments;
b. Regulation of the Minister of State-Owned Enterprises of the Republic of Indonesia Number PER-11/MBU/07/2021 dated July 30, 2021 concerning
    Requirements, Procedures for Appointment and Dismissal of Members of the Board of Directors of State-Owned Enterprises and the amendments;
c. Regulation of the Minister of State-Owned Enterprises of the Republic of Indonesia Number PER-13/MBU/09/2021 dated September 24, 2021
    concerning the Sixth Amendment to the Regulation of the Minister of State-Owned Enterprises Number PER-04/MBU/2014 concerning Guidelines for
    Determining the Income of the Board of Directors, Board of Commissioners, and Supervisory Board of State-Owned Enterprises and the amendments.
                                                                   Seventh Agenda
Approval of Changes in the Company’s Management Composition.
There were no questioners in the discussion of the seventh agenda item of the Meeting.
Voting Results
Agree : 6,951,162,908 (86.9040642%)
Disagree : 982,921,026 (12.2885671%)
Abstain : 64,578,700 (0.8073687%)
Decision
1. Honourably dismissed the names mentioned below as members of the Board of Directors and members of the Board of Commissioners of the
      Company as follows:
      a. Eko D. Heripoerwanto as Commissioner;
      b. Nixon L.P. Napitupulu as Vice President Director;
Appointed respectively based on the resolution of the Annual GMS for Fiscal Year 2018 dated May 17, 2019 and Annual GMS for Fiscal Year 2016
dated March 17, 2017 jo Annual GMS for Fiscal Year 2020 dated March 10, 2021, with gratitude for the contribution of energy and thoughts during
his tenure.




                                                                                       PT Bank Tabungan Negara (Persero) Tbk                    431
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2.    Changed the nomenclature of the position of the members of the Board of Directors of the Company as follows:

 No.                                     Beginning                                                                   Become
 1.        Director of Consumer & Commercial Lending                                  Director of Consumers
 2.        Director of Finance, Planning & Treasury                                   Director of Finance
 3.        Director for Compliance & Legal                                            Director of Human Capital, Compliance, & Legal

 4.        Director of Wholesale Risk & Asset Management                              Director of Assets Management

 5.        Director of Operations, IT & Digital Banking                               Director of IT & Digital
 6.        Director of Distribution & Retail Funding                                  Director of Distribution & Funding
 7.        Director of Risk Management & Transformation                               Director of Risk Management

3.    Transferred the assignment of the names below as members of the Board of Directors of the Company as follows:

     No.              Name                                    Beginning                                                        Become
 1.          Hirwandi Gafar            Director of Consumer & Commercial Lending                    Director of Consumers
 2.          Nofry Rony Poetra         Director of Finance, Planning & Treasury                     Director of Finance
 3.          Eko Waluyo                Director for Compliance & Legal                              Director of Human Capital, Compliance, & Legal
             Elisabeth Novie
 4.                                    Director of Wholesale Risk & Asset Management                Director of Assets Management
             Riswanti
 5.          Andi Nirwoto              Director of Operations, IT & Digital Banking                 Director of IT & Digital
 6.          Jasmin                    Director of Distribution & Retail Funding                    Director of Distribution & Funding
 7.          Setiyo Wibowo             Director of Risk Management & Transformation                 Director of Risk Management

Their appointments were made based on the Resolution of the Annual GMS for Fiscal Year 2020 dated March 10, 2021, resolution of the EGMS for
2019 dated August 29, 2019, Resolution of the EGMS for 2019 dated November 27, 2019, and Resolution of the Annual GMS for Fiscal Year 2017
dated March 23, 2018, with the term office continuing the remaining term of office based on the GMS Resolution.
4. Appointed the names mentioned below as members of the Board of Directors and members of the Board of Commissioners as follows:
     a. Herry Trisaputra Zuna - as Commissioner;
     b. Himawan Arief Sugoto - as Commissioner;
     c. Sentot A Sentausa - as Independent Commissioner;
     d. Nixon L.P. Napitupulu - as Deputy Main Director.
5. The term of office of members of the Board of Directors and members of the Board of Commissioners appointed as referred to in point 4, according
     to the provision of the Company’s Article of Association by taking into account the laws and regulations in the Capital Market and without prejudice
     to the right of the GMS to dismiss at any time.
6. Along with the dismissal, change of position nomenclature, transfer of duties, and appointment of members of the Board of Directors and Board of
     Commissioners of the Company as referred to in point 1 to 4, the composition of membership of the Board Directors and Board of Commissioners
     of the Company becomes as follows:
     a. Board of Commissioners
          − President Commissioner/Independent : Chandra Hamzah
          − Vice President Commissioner /Independent : Iqbal Latanro
          − Commissioner : Heru Budi Hartono
          − Commissioner : Andin Hadiyanto
          − Commissioner : Herry Trisaputra Zuna
          − Commissioner: Himawan Arief Sugoto
          − Independent Commissioner: Armand Bachtiar Arief
          − Independent Commissioner: Ahdi Jumhari Luddin
          − Independent Commissioner: Sentot A. Sentausa
     b. Directors
          − President Director: Haru Koesmahargyo
          − Vice President Director: Nixon L.P. Napitupulu
          − Director of Consumer: Hirwandi Gafar
          − Director of Finance: Nofry Rony Poetra
          − Director of Human Capital, Compliance, & Legal: Eko Waluyo
          − Director of Assets Management: Elisabeth Novie Riswanti
          − Director of IT & Digital: Andi Nirwoto
          − Director of Distribution & Funding: Jasmin
          − Director of Risk Management: Setiyo Wibowo
7. Members of the Board of Directors and Board of Commissioners appointed as referred to in point 4 can only carry out their duties after obtaining
     approval from the Financial Services Authority (OJK) for the Fit & Proper test and complying with the applicable laws and regulations. If the
     members of the Board of Directors and Board of Commissioners of PT Bank Tabungan Negara (Persero), Tbk, are then declared disapproved as
     members of the Board of Directors and Board of Commissioners in the Fit & Proper Test by OJK, the member s of the Board of Directors and Board
     of Commissioners are honourably dismissed from the date of the decision on the results of the OJK Fit & Proper Test.
8. Members of the Board of Directors and Board of Commissioners appointed as referred to in point 4 who are still holding other positions prohibited
     by laws and regulations to be concurrently serving the positions of the members of the Board of Directors or members of the Commissioners of State-
     Owned Enterprises, then the person concerned must resign or be dismissed from his positions.
9. Requested the Board of Directors to submit a written application to the Financial Services Authority for the implementation of the Fit & Proper
     Test on the members of the Board of Directors and the board of Commissioners appointed as referred to in point 4.
10. Granted authority to the Board of Directors of the Company to declare the resolutions of this GMS in the form of a Notarial Deed and before a
     Notary or authorized official, and make adjustments or improvements needed if required by the competent authority for the purposes of implementing
     the contents of the meeting resolutions.



432           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                             2023 Annual Report




Implementation of the Extraordinary GMS in 2022 and its Realization

                 Stages                                                                        Details

                                            Letter Number 493/DIR/CSD/IX/2022 dated September 2, 2022, concerning the announcement date and
 Pemberitahuan                              agendas of the Extraordinary GMS of PT Bank Tabungan Negara (Persero) Tbk, was submitted to the Financial
                                            Services Authority (OJK) with a carbon copy to PT Bursa Efek Indonesia.

                                            Published on the e-GMS provider website, the Indonesia Stock Exchange website, and the Company website on
 Pengumuman
                                            Friday, September 9, 2022.

                                            Published on the e-GMS provider website, the Indonesia Stock Exchange website, the Company's website, and the
 Pemanggilan
                                            daily newspaper “Investor Daily” on Monday, September 26, 2022.

                                            The GMS was held on Tuesday, October 18, 2022 at 14.27 WIB – 15.11 Western Indonesian Time at Gedung
 Pelaksanaan
                                            Menara BTN, 6th floor Jl. Gajah Mada No. 1 Central Jakarta 10130.

 Pengumuman Ringkasan Risalah               Published on the e-GMS provider website, the Indonesia Stock Exchange website, and the Company website on
 RUPS                                       October 19, 2022.

                                            Letter Number 669/CSD/RCD/XII/2022 dated October 31, 2022, concerning Submission of the Notarial Deed of
 Berita Acara RUPS                          Minutes of the 2022 Extraordinary GMS of PT Bank Tabungan Negara (Persero) Tbk, was submitted to the Financial
                                            Services Authority (OJK) on October 31, 2022.


Recapitulation of Attendance at the 2022 Extraordinary GMS


 No.                      Name                                                     Position                                         Attendance

 1.       Chandra M. Hamzah                        President Commissioner/Independent                                                  Present

 2.       Iqbal Latanro                            Vice President Commissioner/Independent                                             Present

 3.       Ahdi Jumhari Luddin                      Independent Commissioner                                                            Present

 4.       Armand B. Arief                          Independent Commissioner                                                            Present

 5.       Sentot A. Sentausa                       Independent Commissioner                                                            Present

 6.       Andin Hadiyanto                          Commissioner                                                                        Present

 7.       Herry Trisaputra Zuna                    Commissioner                                                                        Present

 8.       Himawan Arief Sugoto*                    Commissioner                                                                        Present

 9.       Haru Koesmahargyo                        President Director                                                                  Present

 10.      Nixon L.P. Napitupulu                    Vice President Director                                                             Present

 11.      Nofry Rony Poetra                        Director of Finance                                                                 Present

 12.      Eko Waluyo                               Director of Human Capital, Compliance and Legal                                     Present

 13.      Setiyo Wibowo                            Director of Risk Management                                                         Present

 14.      Jasmin                                   Director of Distribution and Funding                                                Present

 15.      Andi Nirwoto                             Director of IT and Digital                                                          Present

 16.      Hirwandi Gafar                           Director of Consumers                                                               Present

 17.      Elisabeth Novie Riswanti                 Director of Assets Management                                                       Present

 18.      Adi Prakoso                              Member of the Audit Committee                                                       Present

 19.      Peter Eko Budi Darwito                   Member of the Audit Committee                                                       Present
*) Attend the meeting via video teleconference



Independent Vote Counters

The decision-making results were calculated by PT Datindo Entrycom as the Securities Administration Bureau (“BAE”) appointed by the
Company and then validated by Notary Ashoya Ratam, SH, MKn.




                                                                                          PT Bank Tabungan Negara (Persero) Tbk                     433
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Decisions and Realization of the 2022 Extraordinary GMS


                                                                 Meeting Agenda

 Approval of the Company's Capital Increase by Granting Pre-emptive Rights to Shareholders, which would be carried out through a Limited Public
 Offering II, which in turn amended Article 4 paragraph (2) and paragraph (3) of the Company's Articles of Association.

 There were 2 (two) questions submitted via eASY.KSEI.

 Voting Results
 Agree : 8,602,800,944 (99.9899926%)
 Disagree : 220,200 (0.0025594%)
 Abstain : 640,800 (0.0074480%)

 1.   Approved the increase issued and paid-up capital carried out by the Company through Limited Public Offering II (PUT II), by issuing new shares
      as many as 4,600,000,000 (four billion six hundred million) share units of series B with the nominal value of IDR 500.00 (five hundred rupiah)
      per share, in accordance with the applicable laws and regulations.
 2.   Approved the amendment of Article 4 paragraph (2) and paragraph (3) of the Company’s Articles of Association concerning increasing the
      Company’s issued and paid-up capital as the result of the PMHMETD.
 3.   Approved the granting of authority to the Company’s Board of Commissioners to perform all actions needed regarding the Pre-emptive Rights,
      including:
      a. Approve the determination of the certainty of the number of new shares issued in the PMHMETD and the price of the HMETD as proposed
           by the Company’s Directors, taking into account the applicable laws and regulations including regulations in the capital market sector;
      b. State the realization of the actual number of shares that have been issued in connection with the increase in issued and paid-up capital
           after the PMHMETD has been completed. Submit a notification of changes to Article 4 paragraph (2) and paragraph (3) of the Company’s

           Articles of Association to the Minister of Law and Human Rights of the Republic of Indonesia to obtain a Letter of Acceptance of
           Notification of Amendment of the Company’s Articles of Association, as well as make changes and/or additions required.
 4.   Approved the granting of power and authority to the Company’s Board of Directors with substitution rights to carry out all necessary actions
      related to PMHMETD, to:
      a. Sign the registration statement to be submitted to the Financial Services Authority (OJK);
      b. Negotiate and sign other agreements, including those relating to standby purchase agreements (if any) with terms and conditions
           considered good for the Company by the Company’s Board of Directors;
      c. Sign, print and/or issue the Abbreviated Prospectus, Amendments and/or Supplements to the Abbreviated Prospectus, Initial Prospectus,
           Prospectus, Info Memo, and/or all agreements and/or documents required in connection with PMHMETD;
      d. Determine the exercise price in the context of PMHMETD with the approval of the Board of Commissioners;
      e. Determine the certainty of the number of shares issued with approval from the Board of Commissioners;
      f. Determine the date of List of Shareholders entitled to Pre-emptive Rights;
      g. Determine the ratio of shareholders entitled to Pre-emptive Rights;
      h. Determine and ensure the use of funds obtained from the PMHMETD proceeds;
      i. Determine the PMHMETD implementation schedule;
      j. Determine whether or not there is a Standby Buyer, and determine and negotiate the terms and conditions of the agreement between the
           Company and the Standby Buyer, if any;
      k. Deposit the Company’s shares in the collective custody of the Indonesian Central Securities Depository (KSEI) following KSEI regulations;
      l. List all shares of the Company that have been issued and fully paid up on the Indonesia Stock Exchange with due observance of the
           applicable laws and regulations;
      m. Affirm one or more decisions stated in the Meeting resolutions in one or more Notarial deeds;
      n. Take all necessary and/or required actions concerning the Company’s PMHMETD, including those required under applicable laws and
           regulations.



GMS DECISIONS IN THE FISCAL YEAR AND 1 (ONE) YEAR PRIOR TO THE FISCAL YEAR WHICH ARE REALIZED IN THE FISCAL YEAR
All decisions of the 2023 Fiscal Year GMS and has been realized/implemented in 2023 and the 2022 Fiscal Year GMS has been
realized/implemented in 2022. So there are no 2022 GMS decisions and GMS decisions that have not been realized in 2023.


Board of Directors

The Board of Directors is an organ in Corporate Governance implementation that is fully responsible for the management of the Company
for the interests and objectives of the Company and serves as a legal representative of the Company concerning every matter and case
with some restrictions as regulated by the laws, the Articles of Association of the Company, and/or the GMS resolutions. The Board
of Directors is responsible for managing and determining the Company’s strategic direction, utilizing and maintaining the Company’s
assets for the purposes and interests of the Company. Henceforth, the Board of Directors shall report the implementation of its duties and
responsibilities to the Board of Commissioners.




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Duties and Responsibilities of the Board of Directors                3. The Director has no conflict of interest, be it directly or
                                                                        indirectly regarding the management’s action that resulted in
The Board of Directors is responsible for implementing all actions      this loss.
regarding the operations and responsibility of the Company’s         4. The Director has taken necessary measures to prevent this
management for the Company’s benefit in compliance with                 loss from arising or continuing.
the Company’s purposes and objectives and to represent the
Company, both inside and outside the Court regarding all             Duties and Responsibilities of the Director Supervising the
matters and all occurrences with limitations as regulated in the     Compliance Function at least include:
laws, Articles of Association, and/or GMS resolutions.               1. Formulating strategies to empower the Culture of Compliance;
                                                                     2. Proposing Compliance policies or other Compliance
The President Director serves as Coordinator of the Board of             principles that shall be set forth by the Board of Directors.
Directors with the following duties:                                 3. Establishing the Compliance System and procedures that
1. To lead the Board of Directors meetings.                              shall be used to compile the Bank’s internal guidelines and
2. To create a Culture of Transparency and to facilitate                 regulations.
    constructive discussion.                                         4. Ensuring every policy, regulation, system, and procedure, as
3. To provide advice to members of the Board of Directors                well as business activities conducted by the Bank, has been
    related to the effectiveness of the management.                      outlined in accordance with the Bank Indonesia Regulations,
4. To maintain good relations and solidarity among the members           Financial Services Authority, and all prevailing regulations
    of the Board of Directors regarding management duties.               and legislation, including Sharia Principles for Sharia
5. To maintain an effective and healthy relationship with the            Principles for Sharia Business Unit.
    Board of Commissioners.                                          5. Minimizing the Bank’s Compliance Risks.
                                                                     6. Taking preventive actions to have the policies and/or
Each member of the Board of Directors is fully liable for any            decisions made by the Bank’s Board of Directors aligned with
loss of the Company caused by inaccuracies or negligence from            the provisions of Bank Indonesia and all prevailing laws and
members of the Board of Directors in performing their duties. A          regulations.
member of the Board of Directors is not to be held accountable       7. Performing other tasks related to the Compliance Function.
for the loss as mentioned above if proven that:                      8. Reporting the implementation of duties and responsibilities
1. The loss is not caused by his/her fault or negligence.                to the President Director, with a carbon copy to the Board of
2. The Director has conducted managerial undertakings in good            Commissioners being reported at least quarterly.
     faith and with prudence that is consistent with the Company’s
     goals and objectives.



Duties and Responsibilities of Each Board of Directors

Period January 1, 2023 – March 15, 2023

                Name                                  Position                                    Field of Duty

                                                                         The President Director supervises:
                                                                         a. Director of Assets Management
                                                                         b. Director of IT and Digital
                                                                         c. Director of Finance
 Haru Koesmahargyo                    President Director                 d. Director of Risk Management
                                                                         e. Director of Human Capital, Compliance and Legal
                                                                         f. SEVP Operations
                                                                         g. Internal Audit Division
                                                                         h. Corporate Secretary Division
                                                                         The Vice President Director supervises:
                                                                         a. Director of Consumers
 Nixon L.P. Napitupulu                Vice President Director            b. Director of Distribution and Funding
                                                                         c. SEVP Wholesale Banking
                                                                         d. Marketing Communications Division
                                                                         The Director of IT and Digital supervises:
                                                                         a. Digital Channel Division
                                                                         b. IT Strategic Planning & Development Division
 Andi Nirwoto                         Director of IT and Digital
                                                                         c. IT Operation Division
                                                                         d. Data Management & Analytics Division
                                                                         e. IT Security Division




                                                                         PT Bank Tabungan Negara (Persero) Tbk                 435
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                                                           Corporate
                                                           Governance




                  Name                            Position                                           Field of Duty

                                                                           The Director of Assets Management supervises:
                                                                           a. Commercial Asset Management 1 Division
 Elisabeth Novie Riswanti          Director of Assets Management           b. Commercial Asset Management 2 Division
                                                                           c. Consumer Collection, Recovery & Asset Sales Division
                                                                           d. Procurement & Fixed Asset Management Division
                                                                           The Director of Distribution and Funding supervises:
                                                                           a. Wealth Management Division
                                                                           b. Retail Funding & Services Division
 Jasmin                            Director of Distribution and Funding
                                                                           c. Institutional Funding Division
                                                                           d. Service Quality & Distribution Division
                                                                           e. Regional Offices
                                                                           The Director of Risk Management supervises:
                                                                           a. Retail Credit Risk Division
 Setiyo Wibowo                     Director of Risk Management             b. Commercial Credit Risk Division
                                                                           c. Enterprise Risk Management Division
                                                                           d. Transformation & Partnership Management Division
                                                                           The Consumer Director supervises:
                                                                           a. Commercial Banking Division
                                                                           b. SME Banking Division
 Hirwandi Gafar                    Director of Consumers
                                                                           c. Non Subsidized Mortgage & Personal Lending Division
                                                                           d. Subsidized Mortgage Lending Division
                                                                           e. Sharia Business Division
                                                                           The Director of Finance supervises:
                                                                           a. Treasury Division
 Nofry Rony Poetra                 Director of Finance                     b. Corporate Strategy & Planning Division
                                                                           c. Finance & Accounting Division
                                                                           d. Investor Relations & Research Division
                                                                           The Director of Human Capital, Compliance and Legal supervises:
                                                                           a. SEVP Compliance and Legal
                                   Director of Human Capital, Compliance
 Eko Waluyo                                                                b. Human Capital Strategy Division
                                   and Legal
                                                                           c. Human Capital Management Division
                                                                           d. Learning Management Division



Period March 16, 2023 – April 9, 2023

                  Name                            Position                                           Field of Duty

                                                                           The President Director supervises:
                                                                           a. Director of Assets Management
                                                                           b. Director of IT and Digital
                                                                           c. Director of Finance
 Nixon L.P. Napitupulu             President Director*                     d. Director of Risk Management
                                                                           e. Director of Human Capital, Compliance and Legal
                                                                           f. SEVP Operations
                                                                           g. Internal Audit Division
                                                                           h. Corporate Secretary Division

                                                                           The Vice President Director supervises:
                                                                           a. Director of Consumers
 Oni Febriarto Rahardjo            Vice President Director*                b. Director of Distribution and Funding
                                                                           c. SEVP Wholesale Banking
                                                                           d. Marketing Communications Division

                                                                           The Director of Finance supervises:
                                                                           a. Treasury Division
 Nofry Rony Poetra                 Director of Finance                     b. Corporate Strategy & Planning Division
                                                                           c. Finance & Accounting Division
                                                                           d. Investor Relations & Research Division

                                                                           The Director of Assets Management supervises:
                                                                           a. Commercial Asset Management 1 Division
 Elisabeth Novie Riswanti          Director of Assets Management           b. Commercial Asset Management 2 Division
                                                                           c. Consumer Collection, Recovery & Asset Sales Division
                                                                           d. Procurement & Fixed Asset Management Division

                                                                           The Director of Human Capital, Compliance and Legal supervises:
                                                                           a. SEVP Compliance and Legal
                                   Director of Human Capital, Compliance
 Eko Waluyo                                                                b. Human Capital Strategy Division
                                   and Legal
                                                                           c. Human Capital Management Division
                                                                           d. Learning Management Division




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                     Name                                              Position                                                  Field of Duty

                                                                                                       The Director of Risk Management supervises:
                                                                                                       a. Retail Credit Risk Division
 Setiyo Wibowo                                      Director of Risk Management                        b. Commercial Credit Risk Division
                                                                                                       c. Enterprise Risk Management Division
                                                                                                       d. Transformation & Partnership Management Division

                                                                                                       The Director of Distribution and Funding supervises:
                                                                                                       a. Wealth Management Division
                                                                                                       b. Retail Funding & Services Division
 Jasmin                                             Director of Distribution and Funding
                                                                                                       c. Institutional Funding Division
                                                                                                       d. Service Quality & Distribution Division
                                                                                                       e. Regional Offices

                                                                                                       The Director of IT and Digital supervises:
                                                                                                       a. Digital Channel Division
                                                                                                       b. IT Strategic Planning & Development Division
 Andi Nirwoto                                       Director of IT and Digital
                                                                                                       c. IT Operation Division
                                                                                                       d. Data Management & Analytics Division
                                                                                                       e. IT Security Division

                                                                                                       The Director of Consumer supervises:
                                                                                                       a. Commercial Banking Division
                                                                                                       b. SME Banking Division
 Hirwandi Gafar                                     Director of Consumers
                                                                                                       c. Non Subsidized Mortgage & Personal Lending Division
                                                                                                       d. Subsidized Mortgage Lending Division
                                                                                                       e. Sharia Business Division

 Hakim Putratama                                    Director of Institutional Banking*                 -

*) Effective after obtaining approval from the Financial Services Authority for the Fit and Proper Test.


Period April 10, 2023 – December 31, 2023

                     Name                                              Position                                                 Field of Duty

                                                                                                       The President Director supervises the area:
                                                                                                       a. Retail Banking (including consumer funding and distribution)
                                                                                                       b. Finance
                                                                                                       c. Operation
 Nixon L.P. Napitupulu                              President Director*
                                                                                                       d. Technology & Digital
                                                                                                       e. Risk Management
                                                                                                       f. Internal Audit (IAD)
                                                                                                       g. Corporate Secretary (CSD)
                                                                                                       The Vice President Director supervises the area:
                                                                                                       a. Wholesale & Institutional Banking
                                                                                                       b. Human Capital, Compliance and Legal
 Oni Febriarto Rahardjo                             Vice President Director*
                                                                                                       c. Asset Quality & LAR
                                                                                                       d. Sharia
                                                                                                       e. Marketing Communication (MCD)
                                                                                                       The Director of Finance supervises:
                                                                                                       a. Treasury (TRSD)
 Nofry Rony Poetra                                  Director of Finance                                b. Corporate Strategy & Planning (CSPD)
                                                                                                       c. Finance & Accounting (FAD)
                                                                                                       d. Investor Relations & Research (IRRD)
                                                                                                       The Director of Assets Management supervises:
                                                                                                       a. Commercial Asset Management 1 (CAMD 1)***
 Elisabeth Novie Riswanti                           Director of Assets Management                      b. Commercial Asset Management 2 (CAMD 2)***
                                                                                                       c. Consumer Collection, Recovery & Asset Sales (CRSD)***
                                                                                                       d. Procurement & Fixed Asset Management (PFAD)
                                                                                                       The Director of Human Capital, Compliance and Legal supervises:
                                                                                                       a. SEVP Compliance and Legal
                                                    Director of Human Capital, Compliance              b. Human Capital Strategy (HCSD)
 Eko Waluyo
                                                    and Legal                                          c. Human Capital Management (HCMD)
                                                                                                       d. Human Capital Business Partner Division (HCBD)****
                                                                                                       e. Learning Management (LMD)
                                                                                                       The Director of Risk Management supervises:
                                                                                                       a. Retail Credit Risk (RCRD)
 Setiyo Wibowo                                      Director of Risk Management                        b. Wholesale Credit Risk (WCRD)
                                                                                                       c. Enterprise Risk Management (ERMD)
                                                                                                       d. Transformation & Partnership Management (TPMD)




                                                                                                       PT Bank Tabungan Negara (Persero) Tbk                      437
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                                                                            Governance




                    Name                                           Position                                                    Field of Duty

                                                                                                      The Director of Distribution and Funding supervises:
                                                                                                      a. Wealth Management (WMD)
 Jasmin                                           Director of Distribution and Funding                b. Retail Funding (RFD)
                                                                                                      c. Service Quality & Distribution (SQDD)
                                                                                                      d. Regional Offices (RO)
                                                                                                      The Director of IT and Digital supervises:
                                                                                                      a. Digital Banking (DBD)
                                                                                                      b. IT Strategic Planning & Development (ITPD)
 Andi Nirwoto                                     Director of IT and Digital
                                                                                                      c. IT Operation (ITOD)
                                                                                                      d. Data Management & Analytics (DMD)
                                                                                                      e. IT Security (ITSD)
                                                                                                      The Director of Consumer supervises:
                                                                                                      a. SME Banking (SMBD)
                                                                                                      b. Non Subsidized Mortgage (NSMD)*****
 Hirwandi Gafar                                   Director of Consumers
                                                                                                      c. Subsidized Mortgage (SMD)
                                                                                                      d. Sharia Banking (SHAD)
                                                                                                      e. Personal Banking (PBD)*****
                                                                                                      The Director of Institutional Banking supervises:
                                                                                                      a. Institutional Funding
 Hakim Putratama                                  Director of Institutional Banking ******
                                                                                                      b. Financial Institution & Capital Market (FICD)
                                                                                                      c. Wholesale Transaction (WTD)

*) Effectively serving as President Director of the Company since June 7, 2023
**) Effectively serving as Deputy President Director of the Company since June 7, 2023
***) Division redeployment takes effect from June 5, 2023
****) Division redeployment takes effect from November 1, 2023
*****) Division redeployment takes effect from August 25, 2023
******) Effectively serving as Director of Institutional Banking of the Company since July 26, 2023




Rights and Authorities of the Board of Directors                                                as other actions in the context of resolving the Company’s
                                                                                                receivables while still paying attention to prudential
The Board of Directors has the rights and authorities that have                                 principles; And
been regulated in the Work Guidelines and Manual of the Board                                9. Carrying out all actions and other actions regarding the
of Directors. The rights and authorities of the Board of Directors                              management and ownership of the Company’s assets,
are as follows:                                                                                 binding the Company with other parties and/or other parties
1. To establish policies that are considered appropriate in the                                 with the Company, including without limitation optimizing
    management of the Company.                                                                  the utilization of the Company’s assets, with restrictions
2. To regulate the transfer of power of the Board of Directors t                                as regulated in the statutory regulations of the Articles of
    represent the Company inside and outside the Court to one or                                Association and/ or GMS decision.
    several persons specially appointed for it including the Company’s
    employees either individually or jointly or other bodies.                                Term of Office of the Board of Directors
3. To regulate the provisions regarding the Company’s employees
    including the determination of wages, pensions or retirement                             The term of office of members of the Board Directors is determined to
    age insurance, and other income for the Company’s employees                              be 5 (five) years and can be reappointed for 1 (one) term of office.
    based on the applicable laws and regulations.                                            Members of the Board of Directors are appointed for a period of time
4. To appoint and dismiss the Company’s workers based on the                                 starting from the date determined by the GMS that appoints them and
    Company’s labor rules and laws and regulations.                                          ending at the closing of the 5th (five) Annual GMS after the date of their
5. Establishing the function of Corporate Secretary.                                         appointment, by taking into account the laws and regulations in the
6. Providing a decision to write off bad debts which are then                                Capital Market sector, without prejudices to the right of the GMS to at
    reported and accounted for in the Annual Report;                                         any time be able to dismiss members of the Board of Directors before
7. Not collecting part or all of receivables beyond the principal                            the end of their term of office.
    in the context of credit restructuring and/or settlement but
    with the obligation to report to the Board of Commissioners;                             The Directors’ position ends if they pass away, their term of office ends,
8. Write off receivables for interest, fines, fees and other                                 including resigning from their position, being dismissed based on a
    receivables outside the principal amount carried out in the                              GMS Decision, or no longer meeting the requirements as a Director
    context of restructuring and/or receivable settlement as well                            based on the Articles of Association and statutory regulations, including
                                                                                             prohibited holding concurrent positions.




438             PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                 2023 Annual Report




Requirements of the Board of Directors                                     Institutions and have obtained a letter of approval from the
                                                                           Financial Services Authority.
The requirements of the Board of Directors that have been               3. All members of the Board of Directors must be domiciled in
regulated in the Work Guidelines and Manual are as follows:                Indonesia. The President Director must come from a party
1. Legal subjects who can be appointed as members of the Board             who is independent of the controlling shareholders.
    of Directors are natural persons, who fulfill the requirements at   4. The majority of members of the Board of Directors must have
    the time of appointment and during their term of office:               at least 5 (five) years of experience in the operational field
    a. Fulfill material requirements, ie:                                  and at least as an Executive Officer of the Bank.
         − Expertise;                                                   5. Each member of the Board of Directors must fulfill other
         − Integrity;                                                      requirements, as follows:
         − Leadership;                                                     a. Not an administrator of a political party, legislative
         − Experience;                                                          candidate, and/or legislative member in the People’s
         − Honest;                                                              Representative Council, Regional Representative Council,
         − Good attitude; And                                                   Provincial Regional People’s Representative Council, and
         − High dedication to advancing and developing the                      Regency/Municipal Regional People’s Representative
             Company.                                                           Council;
b. Apart from meet the criteria as intended in point 1 above,              b. Not a candidate for head/deputy regional head and/
    to be appointed as a member of the Company’s Board                          or head/deputy regional head, including acting head/
    of Directors, a person must fulfill the following formal                    deputy regional head;
    requirements:                                                          c. Not serving as a member of the Board of Directors of the
         − Individuals;                                                         relevant BUMN or Subsidiary for 2 (two) periods;
         − Able to carry out legal actions;                                d. Not currently serving as an official in a Ministry/Institution,
         − Never been declared bankrupt within 5 (five) years                   member of the Board of Commissioners/Supervisory
             prior to appointment;                                              Board in another BUMN, member of the Board of Directors
         − Never been a member of the Board of Directors or                     in another BUMN, member of the Board of Directors in a
             member of the Board of Commissioners/Supervisory                   Subsidiary and/or other business entity;
             Board who was found guilty of causing a BUMN,                 e. Not currently holding a position that is prohibited from
             Subsidiary and/or other business entity to be                      holding a position as a member of the Board of Directors
             declared bankrupt within 5 (five) years prior to                   according to statutory regulations;
             appointment;                                                  f. Have dedication and provide full time to carry out their
         − Never been convicted of committing a criminal                        duties as stated in a statement letter from the person
             act that is detrimental to the finances of the State,              concerned;
             BUMN, Subsidiaries, other business entities and/or            g. Physically and spiritually healthy (not currently suffering
             related to the financial sector within 5 (five) years              from an illness that could hinder the performance of their
             prior to appointment;                                              duties as a member of the Board of Directors), as proven
         − Never been a member of the Board of Directors                        by a health certificate from the hospital; And
             and/or member of the Board of Commissioners                   h. Have a Taxpayer Identification Number (NPWP) and
             during his tenure:                                                 have carried out the obligation to pay taxes for the last
             1) Never held an Annual GMS;                                       two years.
             2) Never been a member of the Board of Directors
                 and/or member of the Board of Commissioners            Work Guidelines and Manual of the Board of
             3) Has never been accepted by the GMS or                   Directors
                 has ever failed to provide accountability as a
                 member of the Board of Directors and/or the            In carrying out their duties and responsibilities, the Board of Directors
                 Board of Commissioners to the GMS; And                 refers to the Board of Directors’ Work Guidelines and Regulations
             4) Never has a company that obtained a permit,             which have been ratified through Special Policy Number KK.6-G
                 approval or registration from the FSA failed to        concerning Directors’ Work Guidelines and Regulations. Work
                 fulfill its obligation to submit an annual report      Guidelines and Manual of the Board of Directors is a governance
                 and/or financial report to the FSA.                    infrastructure that serves as a guideline for the Board of Directors
    c. Having good morals and integrity;                                in carrying out their duties, authorities, responsibilities, rights, and
    d. Being capable of doing legal acts;                               obligations as management of the Company. The Board of Directors’
2. Each member of the Board of Directors must meet the                  Work Guidelines and Manual is prepared based on the principles
    requirements for the fit and proper test in accordance with the     of good governance, referring to the regulations on Limited Liability
    Financial Services Authority Regulation (POJK) regarding the        Companies, the Articles of Association, and the prevailing laws and
    Fit and Proper Test for the Key Parties in Financial Services       regulations that are binding on the Company.




                                                                            PT Bank Tabungan Negara (Persero) Tbk                        439
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                                                            Governance




The scope of the Work Guidelines and Manual of the Board of Directors are as follows:


       Chapter I         Introduction

                         Organization and Authority
       Chapter II        A. Organization Within the Scope of the Board of Directors’ Work Code of Conduct
                         B. Organization Authority Scope of the Board of Directors’ Work Code of Conduct

      Chapter III        Values

                         Work Guidelines and Manual of the Board of Directors
                         A. Structure and Composition of the Board of Directors
                         B. Requirements for members of the Board of Directors
                         C. Criteria for Directors Carrying Compliance Functions
                         D. Concurrent Positions of the Board of Directors
                         E. Appointment and Dismissal of the Board of Directors
                         F. Term of Office of the Board of Directors
                         G. Duties and Responsibilities of the Board of Directors
                         H. Obligations of the Board of Directors
                         I. Rights and Authorities of the Board of Directors
                         J. Actions of the Board of Directors that require the approval of the Board of Commissioners
      Chapter IV
                         K. Mechanism of Distribution of Duties and Authorities of the Board of Directors
                         L. Restrictions
                         M. Transparency
                         N. Work Ethics
                         O. Working Hours
                         P. Meeting Arrangements
                         Q. Leadership
                         R. Performance Evaluation of the Board of Directors
                         S. Reporting and Accountability
                         T. Committees
                         U. Others

       Chapter V         Risks and Mitigation

      Chapter VI         Documentation, Administration and Reporting

      Chapter VII        Monitoring

      Chapter VIII       Closing




Policy of Concurrent Positions of Directors                                Members of the Board of Directors are prohibited from concurrently
                                                                           serving as members of the Board of Directors, members of the
Members of the Board of Directors are prohibited from                      Board of Commissioners, or Executive Officers at Company‘s,
   concurrently holding positions as:                                      companies, and other institutions. It excludes concurrent positions
1. Member of the Board of Directors at BUMN and other                      in the case of the Board of Directors which is responsible for
   business entities.                                                      supervising the Company’s participation in a subsidiary company,
2. Member of the Board of Commissioners/ Supervisory Board                 carrying out the functional duties of being a member of the Board
   of SOEs.                                                                of Commissioners in a non-bank subsidiary company controlled by
3. Other structural and functional positions in central and/or             the Company, as long as it does not result in the person concerned
   regional government institutions/agencies.                              neglecting the implementation of duties and responsibilities as a
4. Other positions in accordance with the provisions of laws;              member of the Company’s Board of Directors.
5. The administrator of political parties, members of the
   legislature, and/or regional heads/deputy regional heads;               Members of the Board of Directors are prohibited from
6. other positions that may cause conflicts of interest; and/or            concurrently serving as members of the Board of Commissioners
7. Become legislative candidates or candidates for regional                in other companies, except:
   heads/deputy regional heads.                                            1. Board of Commissioners in Subsidiaries/Affiliated Companies
                                                                               of the Company, other than as President Commissioner; and
                                                                           2. Board of Commissioners in other business entities to
                                                                               represent/fight for the Bank’s interests as long as they obtain
                                                                               permission from the Minister.




440        PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                    2023 Annual Report




Table of Concurrent Directors’ Positions
                                                                                      Position in other Companies/                   Company/Other
                Name                                    Position
                                                                                                Institutions                         Institution Name
 Haru Koesmahargyo*                       President Director                                            -                                    -
 Nixon L.P. Napitupulu**                  President Director                                            -                                    -
 Oni Febriarto Rahardjo***                Vice President Director                                       -                                    -
 Andi Nirwoto                             Director of IT and Digital                                    -                                    -
 Elisabeth Novie Riswanti                 Director of Assets Management                                 -                                    -
 Jasmin                                   Director of Distribution and Funding                          -                                    -
 Setiyo Wibowo                            Director of Risk Management                                   -                                    -
 Hirwandi Gafar                           Director of Consumers                                         -                                    -
 Nofry Rony Poetra                        Director of Finance                                           -                                    -
                                          Director of Human Capital,
 Eko Waluyo                                                                                             -                                    -
                                          Compliance and Legal
 Hakim Putratama***                       Director of Institutional Banking                             -                                    -

*Resigned his position as of March 16 2023 based on the results of the 2023 Annual General Meeting of Shareholders (AGMS)
**Transfer of his original assignment as Deputy President Director to become Main Director since March 16 2023.
***Started in office on March 16 2023 and received an effective statement from the OJK starting June 7 2023




Management of Conflict Interest of the Board                                            3. Provide disclosures in terms of decision-making in the event
of Directors                                                                               of a conflict of interest.
                                                                                        4. Grant credit to members of the Board of Directors based
Each member of the Board of Directors is prohibited from taking                            on a reasonableness limit in accordance with applicable
and/or receiving personal benefits either directly or indirectly                           bank regulations without distinguishing from other customers
from the Company’s activities, other than remuneration and other                           (arm’s length basis).
legal facilities, which are determined based on the decision of                         5. Report the Company’s stock transactions within 3 (three)
the GMS. Members of the Board of Directors are prohibited from                             working days.
utilizing the Company for personal, family, and /or other parties
that may harm or reduce the Company’s profits.                                          Meeting of the Board of Directors

Members of the Board of Directors shall not give or offer or receive,                   1. The Board of Directors shall hold regular Meetings of the
directly or indirectly, any valuable thing to or from a customer or                        Board of directors at least 1 (once) a month or the so-called
a Government official to influence or in exchange for what he                              Scheduled Meeting of the Board of Directors (ALCO and
has done and other actions, in accordance with the provisions                              Performance Review).
of laws and regulations. Any member of the Board of Directors                           2. The Board of Directors shall schedule a meeting of the Board of
who personally in any way, whether directly or indirectly, has                             Directors for the following year prior to the end of the fiscal year.
an interest in a transaction, a contract or a proposed contract                         3. Scheduled Meetings of the Board of Directors must be
in which the Company is a party must be declared the nature of                             attended by a minimum of 2/3 (two-thirds) of the total
his interest at the Meeting of the Board of Directors and therefore                        number of members of the Board of Directors.
shall not be entitled to participate in voting in matters relating to                   4. The summon to the Meeting of the Board of Directors shall be
such transaction or contract.                                                              made by a member of the Board of directors who is entitled
                                                                                           to represent the Board of Directors.
In the event of a conflict of interest, which is a condition where                      5. The summon to the Meeting of the Board of Directors shall
the Company’s economic interests conflict with personal interests,                         include the event, date, time, place of the meeting, and
members of the Board of Directors should always:                                           meeting materials.
1. Prioritize the interest of the Company and not reduce the                            6. The summon to the Meeting of the Board of Directors shall be
     Bank’s profits in the event of a conflict of interest.                                written and delivered directly to each member of the Board
2. Avoid making decisions in situations and conditions of                                  of Directors with sufficient receipt or by post no later than 5
     conflict of interest.                                                                 (five) days before the Meeting is held.
                                                                                        7. Meeting materials for the Scheduled meeting as referred to
                                                                                           shall be submitted to the meeting participants no later than 5
                                                                                           (five) working days before the meeting is held via e-mail or
                                                                                           other fastest means possible.




                                                                                             PT Bank Tabungan Negara (Persero) Tbk                       441
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                                                             Governance




8. Meeting materials for meetings held outside the schedule shall                unavailable, then one of the directors appointed in writing
    be delivered at the time the meeting is being held at the latest.            by the President Director shall chair the meeting; or
9. The holding of Meeting of the Board of Directors may be held               e. In the event that the President Director does not make an
    at any time if deemed necessary by one or more members of                    appointment, the longest-serving Director in the position
    the Board of Directors; or upon written request from one or                  as a member of the Board of Directors shall chair the
    more members of the Board of Commissioners.                                  Board of directors Meeting; or
10. In the event that members of the Board of Directors are unable            f. In the event that there is more than 1 (one) Director with
    to physically attend the Meeting of the Board of Directors, the              the longest term of office as a member of the Board of
    members of the Board of Directors may attend the meeting                     directors, then the oldest Director in terms of age shall act
    through teleconference, video conference, or other electronic                as the chairman of the Board of Directors Meeting.
    means in accordance with the applicable provisions. In the
    event that the Meeting of the Board of Directors is held by           Meeting of the Board of Directors with the Board
    means of teleconferencing technology, it must be supported by:        of Commissioners
    a. The basis for the decision to hold the meeting using               The Board of Directors must hold a joint meeting with the Board
         teleconferencing technology means, among others, the             of Commissioners periodically at least 1 (once) in 4 (four) months.
         Bank’s internal provisions and/or the minutes of the
         Board of Directors’ Meeting.                                     Meeting of the Board of Directors Committee
    b. Recorded evidence of the meeting.                                  Committee meetings may be conducted at any time based on
    c. Minutes of Meeting are signed by all meeting participants          the needs of the Committee and upon written request from the
         who are physically present or through teleconferencing           secretary and/or members of the Committee.
         technology.
11. At a Meeting of the board of Directors, a member of the               Decision-making
    Board of Directors may be represented only by other members           1. A Board of Directors meeting is valid and has the right to
    of the Board of Directors based on a power of attorney. A                 make binding decisions if attended and/or represented by
    member of the Board of Directors may only represent one                   more than ½ (one half) of the total votes cast..
    other member of the Board of Directors..                              2. In the event that there is more than 1 (one) proposal, a re-
12. Meetings of the Board of Directors shall be chaired at the                election will be held so that 1 (one) proposal receives more
    place of domicile of the Company or the place of business                 than ½ (one-half) of the total votes cast..
    activities of the Company or elsewhere in the territory of the        3. The decision-making of the Board of Directors Meeting is
    Republic of Indonesia.                                                    carried out based on deliberation and consensus.
13. The Meeting of the Board of Directors shall be chaired by             4. In the event that no consensus is reached, the decision is
    the President Director. If the President Director is absent or            made based on a vote. Decisions on a ballot must obtain a
    unable to attend, then:                                                   vote of more than ½ (one-half) share of the number of valid
    a. Vice President Director; or                                            votes cast at the meeting.
    b. The Director appointed in writing by the President                 5. In the Meeting of the Board of Directors, each member of the
         Director shall chair the meeting if, at the same time, Vice          Board of Directors has the right to issue 1 (one) vote and an
         President Director is absent or unavailable; or                      additional 1 (one) vote for other members of the Board of
    c. The Director who is appointed by Vice President Director               Directors that he or she represents legally.
         if, at the same time, the President Director and Vice            6. A blank vote (abstention) is deemed to approve the proposal
         President Director are not present or unable to and the              submitted at the meeting. Invalid votes are considered
         President Director does not make an appointment; or                  nonexistent and thus are not counted in determining the
    d. If the GMS does not appoint Vice President Director, then              number of votes cast in the meeting.
         in the event that the President Director is not present or




442          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                              2023 Annual Report




7. Voting on persons shall be conducted by closed ballot papers        4. A copy of the minutes of the meeting must be given to each
    without signatures, whereas voting on other matters shall             member of the Board of Directors, whether the person concerned
    be conducted verbally unless the Chairman of the Meeting              is present or not present at the Board of Directors meeting.
    determines otherwise without any objection based on the            5. Original minutes of Board of Directors meetings must be
    majority vote of the person present.                                  documented and kept by the Company.
8. The Board of Directors may also take valid decisions                6. The number of board meetings and the number of attendance
    without holding a Board of Directors Meeting provided that            of each member of the Board of Directors must be submitted
    all members of the Board of Directors have been notified              in the Annual Report.
    in writing and all members of the Board of Directors have
    given their approval regarding the proposal submitted in           Board of Directors Meeting Plan
    writing and signed the agreement in writing and signed the
    agreement circularly. Decisions taken in this way have the         The Board of Directors meeting plan based on the Company’s
    same force as decisions legally taken at a Board of Directors      Articles of Association, has agreed that the Board of Directors
    Meeting.                                                           Meetings in 2024 will be held at least 1 (one) time per month and/
9. Every member of the Board of Directors who personally in            or as needed. The Board of Directors also holds meetings with
    any way, either directly or indirectly, has an interest in a       the Committees under the Board of Directors which are scheduled
    transaction, contract or proposed contract in which the            according to the need.
    Company is a party must declare the nature of his interest at
    a Board of Directors Meeting and is therefore not entitled to      The Board of Directors must hold regular Board of Directors
    participate. in voting on matters relating to the transaction or   meetings at least 1 (one) time every month or what is called
    contract                                                           the Scheduled Board of Directors Meeting (ALCO Meeting and
10. Decisions of the Board of Directors taken in accordance with       Performance Review). The agenda discussed at least includes:
    the Work Guideline and Manual are binding and are the              1. Preparation of Bank Business Plan (RBB) and Company
    responsibility of all members of the Board of Directors.               Budget Work Plan (RKAP).
                                                                       2. Regularly review the Company’s performance.
Meeting Results                                                        3. Implementation of the APU, PPT and PPPSPM Programs.
1. The results of the meeting must be stated in the Minutes of         4. Implementation of Corporate Governance and Follow-up on
   Meeting which contain everything discussed and decided at the           Internal and External Audit findings.
   meeting, including but not limited to opinions developed at the
   meeting, both supporting and unsupportive opinions or different     The Board of Directors must plan the Scheduled Meeting of the
   opinions (dissenting opinions), as well as the reasons for the      Board of Directors for the following year before the end of the
   absence of members of the Board of Directors , if there are. The    financial year. Scheduled meetings of the Board of Directors must
   minutes of the meeting must be drawn up by someone present          be attended by at least 2/3 of the total members of the Board
   at the meeting appointed by the Chairman of the Meeting and         of Directors.
   then signed by all members of the Board of Directors present
   and submitted to all members of the Board of Directors              Invitations to meetings of the Board of Directors are made in
2. In the event that there is a member of the Board of Directors       writing and delivered directly to each member of the Board of
   who does not sign the Minutes of meeting, the person                Directors no later than 5 (five) days before the meeting is held.
   concerned shall write the reasons in a separate letter              Meeting materials are delivered to the meeting participants no
   attached to the Minutes of Meeting.                                 later than 5 (five) working days before the meeting is held via
3. Minutes of Directors’ Meetings are valid evidence for               email or other electronic means.
   members of the Board of Directors and for third parties
   regarding the decisions taken at the meeting in question.




                                                                           PT Bank Tabungan Negara (Persero) Tbk                  443
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                                                              Governance




Internal Meeting of the Board of Directors

Throughout 2023, the agenda, dates, and participants of the internal meetings of the Board of Directors are as follows.

Table of Internal Meetings of the Board of Directors
    Director
    Meeting             Date                              Topics
                                                                                HK      NPN      OFR        SWB             HRG
    Number
                                                                                Paid
       1                             General Agenda                                      √                    √             √
                                                                               leave
                                                                                Paid
       2         January 3, 2023     Proposed Collegial KPI for 2023                     √                    √             √
                                                                               leave
                                                                                Paid
       3                             ALCO                                                √                    √             √
                                                                               leave
       4         January 9, 2023     General Agenda                             √        √                    √             √

       5                             Performance Review December 2022           √        √                    √             √
                 January 16, 2023
       6                             General Agenda                             √        √                    √             √

       7                             Risk Management Committee                  √        √                    √             √
                 January 17, 2023    Audit of Financial Reports Position
       8                                                                        √        √                    √             √
                                     December 2022
                                     Update on Audit Report for Financial
       9                             Year 2022 and Update on BPK Audit          √        √                    √             √
                                     Findings
                                     Proposed Update to the 2023 GMS
      10                                                                        √        √                    √             √
                                     Agenda
                 January 24, 2023    Proposed Changes/Additions to Bank
      11                                                                        √        √                    √             √
                                     BTN Contact Center Access Numbers
      12                             HCMD material: Talent Mobility             √        √                    √             √
                                     Preparation of Strategy, Priorities and
      13                                                                        √        √                    √             √
                                     Roadmap for HCBP Implementation
      14         January 25, 2023    ALCO                                       √        √                    √             √
                                                                                        Paid
      15         January 30, 2023    General Agenda                             √                             √             √
                                                                                       leave
                                                                                        Paid
      16         January 31, 2023    Risk Management Committee                  √                             √           Service
                                                                                       leave
                                                                                        Paid
      17         February 6, 2023    General Agenda                             √                             √             √
                                                                                       leave
                                     Development of Audit of Financial
      18         February 10, 2023                                              √        √                    √           Service
                                     Reports for 2022
                                     Loan At Risk (LAR) Projections for 2023
      19         13 February 2023                                               √        √                    √             √
                                     Credit and Financing
      20                             General Agenda                             √        √                    √             √
                                     HCMD Material: Extension of SEVP
      21         February 20, 2023                                              √        √                    √             √
                                     Wholesale Banking
                                     HCMD material: Nominated Talent Bank
      22                                                                        √        √                    √             √
                                     BTN in 2023
      24                             ALCO                                       √        √                    √             √

      25                             Update Progress of Al Fatih Project        √        √                Permission        √
                 February 28, 2023   Project Roadmap and HC Strategy 2023
      26                                                                        √        √                    √             √
                                     - 2025
                                                                                       Permis-
      27                             Work Unit KPI Assessment for 2022          √                             √             √
                                                                                        sion
      28                             Update on SBU BTN Project Progress         √        √                    √             √
                 March 6, 2023       Meeting of the Founders, Supervisory
      29                                                                        √        √                    √             √
                                     Board & Management of Dapen
                                     HCMD Material: Sanctions and
      30                                                                        √        √                    √             √
                 March 8, 2023       Disciplinary Committee
      31                             IT Steering Committee (KPTI)
      32                             General Agenda                             √       Sick                  √             √
                 March 13, 2023
      33                             ALCO                                       √       Sick                  √             √
      34         March 16, 2023      Internal Directors                         0        √       0            √             √



444         PT Bank Tabungan Negara (Persero) Tbk
Page 76
                                                                           2023 Annual Report




   Attendance
                                                                                                      Quorum
   JSM           ENR        AND        EW    NRP      HP           BY            ASN            ASN

    √        Paid leave   Paid leave   √      √                    √              √             8       8

    √        Paid leave   Paid leave   √      √                    √              √             8       8

    √        Paid leave   Paid leave   √      √                    √              √             8       8

    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             11     11

    √             √        Service     √      √                    √              √             10     10

    √             √           √        √      √                    √              √             11     11


    √             √           √        √      √                    √              √             11     11


    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             10     10

 Service          √           √        √    Service                √              √             7       7

    √             √           √        √      √                    √              √             10     10

    √           Service       √        √      √                    √              √             9       9

    √             √           √        √     Sick                Service          √             9       9

    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             11     11

    √             √           √        √      √                    √              √             11     11

    √        Permission       √        √      √                    √              √             10     10

    √             √           √        √      √                    √              √             10     10

    √        Permission       √        √      √                    √              √             10     10

    √             √           √        √      √                    √              √             10     10

Paid leave        √           √        √      √                    √              √             10     10

Paid leave        √           √        √      √                    √              √             10     10

Paid leave   Permission       √        √      √                    √              √             9       9



    √             √           √        √      √                    √              √             10     10
    √             √           √        √      √                    √              √             10     10
    √             √           √        √      √       0            √              √             10     10



                                                          PT Bank Tabungan Negara (Persero) Tbk         445
Page 77
                                                      Corporate
                                                      Governance




 Director
 Meeting              Date                        Topics
                                                                            HK   NPN    OFR      SWB   HRG
 Number
                                HCMD Material: Performance Assessment
                                of L1, Head of Division, Regional Office
      35       March 17, 2023   and Head of District and Determination           √       √       √     √
                                of Production Services for Financial Year
                                2022
      36                        General Agenda                                   √       √       √     √
                                Application for Approval in Principle for
                                Beauty Contest Winners Procurement
                                of Consultants for Planning the
      37                                                                         √       √       √     √
               March 20, 2023   Construction of BTN Office Buildings
                                Jl. Pringgokusuman Yogyakarta and
                                Purchase of BTN Operational Land
      38                        Update Viral Customer Videos and LPS             √       √       √     √
      39                        Determination of Cost of Credit in 2023          √       √       √     √
                                                                                       Permis-
      40                        Audit Progress Audit BPK                         √               √     √
                                                                                        sion
                                                                                       Permis-
      41                        General Agenda                                   √               √     √
                                                                                        sion
                                                                                       Permis-
      42                        RBC Implementation Progress Update               √               √     √
                                                                                        sion
               March 27, 2023                                                          Permis-
      43                        KCP Productivity Management                      √               √     √
                                                                                        sion
                                Update Status of Mobile Banking and                    Permis-
      44                                                                         √               √     √
                                EDC                                                     sion
      45                        BI Fines Update                                  √       √       √     √
                                Proposed Committees Under the Board
      46                                                                         √       √       √     √
                                of Directors
                                Proposed Changes to Organizational
      47                                                                         √       √       √     √
                                Structure and Divisional Sectors
      48                        HCMD Material                                    √       √       √     √
               March 28, 2023
      49                        HCMD Material                                    √       √       √     √
                                Performance Review February 2023 and
      50                                                                         √       √       √     √
                                Prognosis March 2023
      51                        HCMD Material: Talent Mobility                   √       √       √     √
               March 29, 2023   HCMD Material: Sanctions and
      52                                                                         √       √       √     √
                                Disciplinary Committee
      53                        General Agenda                                   √       √       √     √
                                Debtor Watchlist Management CAMD2,
      54                                                                         √       √       √     √
                                CMBD, CSTD
                                Steerco Decision Update for Single
      55                                                                         √       √       √     √
                                Relationship Model Corporate Segment
                                Project Job Evaluation & Grading
      56                                                                         √       √       √     √
               April 3, 2023    Structure
                                Proposed 2023 Target Projections
      57                                                                         √       √       √     √
                                regarding Cost of Credit
                                Updates on Wealth Management and
                                Bunding Programs and Updates on
      58                                                                         √       √       √     √
                                Mortgage Development Strategies for
                                Segments above 1 M
      59                        Risk Management Committee Meeting                √       √       √     √
      60       April 4, 2023    Financial Report as of March 31, 2023            √       √       √     √
      61                        ALCO Special                                     √       √       √     √
      62                        HC Committee: Talent Mobility                    √       √       √     √
      63                        General Agenda                                   √       √       √     √
      64                        Subsidized KPR Strategy for 2023                 √       √       √     √
                                Update on Cawang KC Customer
      65                                                                         √       √       √     √
                                Complaints Handling
      66       April 10, 2023   LAT Certificate Completion Performance           √       √       √     √
      67                        Discussion of Retail Forex Sales Strategy        √       √       √     √
                                Consumer Loan Sales with Institutional
      68                                                                         √       √       √     √
                                and Corporate Banking
                                Update Project Transaction Banking &
      69                                                                         √       √       √     √
                                High Yield Loan
      70       April 11, 2023   ALCO                                             √       √       √     √

      72       April 17, 2023   ALCO Special                                     √       √       √     √


446        PT Bank Tabungan Negara (Persero) Tbk
Page 78
                                                          2023 Annual Report




  Attendance
                                                                                     Quorum
 JSM           ENR   AND   EW   NRP     HP           BY         ASN            ASN



  √            √     √     √    √       0            √           √             11     11



Service        √     √     √    √     Service        √           √             10     10



Service        √     √     √    √     Service        √           √             10     10



Service        √     √     √    √     Service        √           √             10     10
Service        √     √     √    √     Service        √           √             10     10

  √            √     √     √    √       √            √        Service          10     10

  √            √     √     √    √       √            √        Service          10     10

  √            √     √     √    √       √            √        Service          10     10

  √            √     √     √    √       √            √        Service          10     10

  √            √     √     √    √       √            √           √             11     11

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12
  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12



  √            √     √     √    √       √            √           √             12     12


  √            √     √     √    √       √            √        Service          11     11
  √            √     √     √    √       √            √        Service          11     11
  √            √     √     √    √       √            √        Service          11     11
  √            √     √     √    √       √            √           √             12     12
  √            √     √     √    √       √            √           √             12     12
  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12
  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12

  √            √     √     √    √       √            √           √             12     12


                                            PT Bank Tabungan Negara (Persero) Tbk      447
Page 79
                                                      Corporate
                                                      Governance




 Director
 Meeting             Date                        Topics
                                                                            HK    NPN      OFR   SWB   HRG
 Number
      73                        Pilot Project Business Ecosystem                   √       √     √     √

      74                        Trade Services Sales Strategy                      √       √     √     √
                                Follow-up to the KBUMN Ministerial
      75                                                                           √       √     √     √
                                Regulation
      76       April 18, 2023   Risk Management Committee                          √       √     √     √
                                Update on Cawang KC Customer
      77                                                                           √       √     √     √
                                Complaints Handling
               April 26, 2023   Securing Priority Transactions and Large
      78                                                                           √       √     √     √
                                Institutions
      79                        General Agenda                                     √       √     √     √
                                BTN Mobile Banking Conversion Update
      80                                                                           √       √     √     √
                                to New Mobile Banking
                                Presentation of the Final Report on
      81                        the UUS Separation Study by Deloitte               √       √     √     √
                                Consultants
                                Proposed Cash Management
      82       May 2, 2023      Management and Sales Organization to               √       √     √     √
                                Customers
                                Update on Progress of Implementation
      83                        of Centralization and Digitalization of            √       √     √     √
                                Credit Document Governance in 2023
      84                        Implementation of the Leadership Forum             √       √     √     √
                                Centralization of PC and Laptop                  Permis-
      85                                                                                   √     √     √
                                Procurement                                       sion
                                Proposed Replacement Director                    Permis-
      86                                                                                   √     √     √
                                Composition                                       sion
                                                                                 Permis-
      87                        KCP UMKM Partner Progress Update                           √     √     √
               May 8, 2023                                                        sion
                                Fulfillment and Strategy for Improving HR
      88                                                                           √       √     √     √
                                Quality in 2023
                                Consumer NPL Performance and NPL
      89                                                                           √       √     √     √
                                Prognosis for May 2023
      90                        General Agenda                                     √       √     √     √

      91                        Performance Review for April 2023                  √       √     √     √
               May 10, 2023                                                       Ser-
      92                        Proposed Improvements to BPI Collection                    √     √     √
                                                                                  vice
                                Proposed Organizational Efficiency for
      93       May 11, 2023                                                        √       √     √     √
                                CAMD 1 and CAMD 2
      94                        Branch Productivity                                √       √     √     √

      95       May 15, 2023     Upgrade Core Banking Sharia                        √       √     √     √

      96                        General Agenda                                     √       √     √     √

      97       May 16, 2023     ALCO                                               √       √     √     √
                                Proposed Covid 19 Restructuring Policy
      98                                                                           √       √     √     √
                                and Recurrent Restructuring
                                Update on Legal Cases in Cawang 1
      99                                                                           √       √     √     √
                                and Cawang 2 Cases
                                Application for Permit for Centralized PC
   100         May 22, 2023                                                        √       √     √     √
                                and Laptop Procurement Principles
   101                          Bank BTN Communication Strategy                    √       √     √     √
                                Material for Proposed Protocol for
   102                          Resolving Customer Complaints via                  √       √     √     √
                                Social Media and Electronic Media
   103         May 23, 2023     IT Steering Committee Meeting (KPTI)               √       √     √     √

   104                          ALCO Special                                       √       √     √     √
                                Acceleration of the Goods and Services           Permis-
   105         May 29, 2023                                                                √     √     √
                                Procurement Process                               sion
                                                                                 Permis-
   106                          Regulatory Fines 2022 - 2023                               √     √     √
                                                                                  sion



448        PT Bank Tabungan Negara (Persero) Tbk
Page 80
                                                                  2023 Annual Report




   Attendance
                                                                                             Quorum
   JSM           ENR      AND     EW      NRP   HP           BY         ASN            ASN

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12


    √             √       √       √       √     √            √           √             12     12



    √             √       √       √       √     √            √           √             12     12



    √             √       √       √       √     √            √           √             12     12


    √             √       √       √       √     √            √           √             12     12

Permission        √       √       √       √     √            √           √             10     10

Permission        √       √       √       √     √            √           √             10     10

    √             √       √       √       √     √            √           √             11     11

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

 Service        Service   √       √       √     √            √           √             10     10

 Service          √       √     Service   √     √            √           √             9       9

    √             √       √       √       √     √            0           √             11     11

    √             √       √     Service   √     √            √           √             11     11

    √             √       √     Service   √     √            √           √             11     11

    √             √       √     Service   √     √            √           √             11     11

    √             √       √     Service   √     √            √           √             11     11

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12


    √             √       √       √       √     √            √           √             12     12


    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             12     12

    √             √       √       √       √     √            √           √             11     11

    √             √       √       √       √     √            √           √             11     11



                                                    PT Bank Tabungan Negara (Persero) Tbk      449
Page 81
                                                      Corporate
                                                      Governance




 Director
 Meeting            Date                          Topics
                                                                           HK    NPN       OFR        SWB           HRG
 Number
   107                       Handling Legal Issues in 2023                        √         √           √            √

   108                       HCMD material                                        √         √           √            √

   109                       Risk Management Committee Meeting                    √         √           √            √
                             Close the Book of Financial Reports and                      Permis-
   110                                                                            √                     √            √
                             Revision of the 2023 RKAP                                     sion
             June 5, 2023
                                                                                          Permis-
   111                       Update Project Strategic Business Unit               √                  Service         √
                                                                                           sion
   112                       Passive Credit Management                            √         √           √            √
                             Project Update to Accelerate Account
   113                                                                            √         √           √            √
                             Opening and CIF
   114       June 12, 2023   Revision of RKAP 2023                                √         √           √            √

   115                       KPI and SMK Employee Alignment                       √         √           √            √
                             Implementation of Internalization of the
   116                                                                            √         √           √            √
                             Bank BTN Corporate Culture Program
   117                       Performance Review May 2023                          √         √       Permission       √
             June 13, 2023
   118                       ALCO Special Liquidity                               √         √           √            √
                                                                                Permis-
   119                       Management Review Meeting (RTM)                                √           √        Permission
                                                                                 sion
                             Renovation Design for Floors 21, 22, 23            Permis-
   120                                                                                      √           √        Permission
                             and BTN Tower Lobby                                 sion
                             Update on Bank BTN Office Network
   121                                                                            √         √           √        Permission
             June 19, 2023   Classification
   122                       Update on Legal Aspects of Project Tiger             √         √           √        Permission
                             Acceleration of the Goods and Services
   123                                                                            √         √           √        Permission
                             Procurement Process
   124                       General Agenda                                       √         √           √        Permission

   125       June 20, 2023   ALCO                                                 √         √           √            √
                             Classification of Bank BTN Branch Office
   127                                                                            √         √           √            √
                             Network
                             Application for Permit for the Principle of
                             Centralization of Building Management
   128       June 26, 2023   Procurement, Application for Site Plan               √         √           √            √
                             Approval for Gandul Land and Approval
                             of Pringgokusuman Land Design
   129                       Ecosystem Piloting Progress Update                   √         √           √            √
                             Proposed Policy for the Authority to
   130                                                                            √         √           √            √
             Juli 3, 2023    Decide on Transfers
   131                       Athlete Mortgage                                     √         √           √            √

   132                       Risk Management Committee Meeting                    √         √           √        Permission

   133       July 4, 2023    Position Financial Report June 2023                  √         √           √        Permission

   134                       HCMD material                                        √         √           √            √

   135                       Update Branch Productivity                           √         √           √            √

   136       July 10, 2023   Piloting Auto Defrost Repair                         √         √           √            √

   137                       Al Fatih Project Update                              √         √           √            √

   138       July 11, 2023   ALCO                                                 √         √           √            √
                             Update Progress Project Single
                                                                                Permis-   Permis-
   139                       Relationship Model RM Corporate                                            √            √
                                                                                 sion      sion
                             Segment
                             Update on BPI SME and MSME Process                 Permis-
   140                                                                                      √           √            √
             July 17, 2023   Center                                              sion
                                                                                Permis-
   141                       Performance Review June 2023                                   √           √            √
                                                                                 sion
                                                                                Permis-
   142                       Internal Directors                                             √           √            √
                                                                                 sion



450      PT Bank Tabungan Negara (Persero) Tbk
Page 82
                                                                             2023 Annual Report




Attendance
                                                                                                        Quorum
JSM           ENR        AND        EW      NRP       HP            BY             ASN            ASN

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             11     11

√            Service       √        √        √        √             √               √             9       9

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             11     11

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √         Permission          √             9       9

√              √           √        √        √        √         Permission          √             9       9

√              √           √        √        √        √             √               √             11     11

√              √           √        √        √        √             √               √             11     11

√              √           √        √        √        √             √               √             11     11

√              √           √        √        √        √             √               √             11     11

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12



√              √           √        √        √        √             √               √             12     12



√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √         Paid leave          √             11     11

√              √           √        √        √        √         Paid leave          √             11     11

√              √           √        √        √        √         Paid leave          √             10     10

√              √           √        √        √        √         Paid leave          √             10     10

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12

√              √           √        √        √        √             √               √             12     12


√              √       Permission   √    Permission   √             √               √             8       8


√              √       Permission   √    Permission   √             √               √             9       9

√              √       Permission   √    Permission   √             √               √             9       9

√              √       Permission   √    Permission   √             √               √             9       9




                                                          PT Bank Tabungan Negara (Persero) Tbk               451
Page 83
                                                         Corporate
                                                         Governance




 Director
 Meeting           Date                             Topics
                                                                            HK    NPN      OFR     SWB           HRG
 Number
                                 Passive Consumer Credit Recovery and
   143       July 21, 2023                                                         √       √         √            √
                                 Rescue Strategy
   144                           General Agenda                                    √       √         √            √
                                 Discussion of OJK Letter Regarding Asset
   145                                                                             √       √         √            √
                                 Sales
   146       July 24, 2023       Wincor ATM Vandalism Case                         √       √         √            √
                                 Submission of Cost and Benefit Analysis
   147                           Results and Centralized PIP Building              √       √         √            √
                                 Management Procurement
                                                                                 Permis-
   148                           BTN Directors' Reporting                                  √     Permission       √
                                                                                  sion
                                 Utilization of Directors' Official              Permis-
   149                                                                                     √     Permission       √
                                 Residence                                        sion
                                                                                 Permis-
   150                           Al Fatih Project Progress Update                          √     Permission       √
             July 31, 2023                                                        sion
                                                                                 Permis-
   151                           Materi HCMD (Talent Mobility)                             √     Permission       √
                                                                                  sion
   152                           Implementasi Job Grade Bank BTN                   √       √         √            √

   153                           General Agenda                                    √       √         √            √

   154                           General Agenda                                    √       √         √         Service
                                 Updates on Consumer Credit Quality
   155       August 7, 2023                                                        √       √         √         Service
                                 Performance
                                 Discussion of Retail Forex Sales
   156                                                                             √       √         √         Service
                                 Achievements and Strategies
   157                           Perfomance Review July 2023                       √       √         √            √
             August 9, 2023
   158                           ALCO                                              √       √         √            √
                                 Changes in CAMD Organizational
   159                                                                             √       √         √            √
             August 11, 2023     Structure
   160                           Materi HCMD (Talent Mobility)                     √       √         √            √

   161                           KC Banjarmasin Forex Case                         √       √         √            √

   162                           ALCO Limited                                      √       √         √            √

   163                           Fraud Protocol                                    √       √         √            √
             August 14, 2023     Penginan KU 4, KU 6 and KK Board of
   164                                                                             √       √         √            √
                                 Directors' Code of Conduct
                                 Changes in Remuneration for Directors
   165                                                                             √       √         √            √
                                 and Board of Commissioners
   166                           General Agenda                                    √       √         √            √
                                 Update on SME and Commercial Credit
   167                                                                             √       √         √        Permission
                                 Portfolio
             August 21, 2023     Update on the Banjarmasin KC Foreign
   168                                                                             √       √         √        Permission
                                 Exchange Case
   169                           Optimizing KCP Productivity                       √       √         √        Permission
                                 Meeting of the Board of Directors with
   170       August 23, 2023                                                       √       √         √            √
                                 the Board of Commissioners
   171                           General Agenda                                    √       √         √            √
                                 Prioritization of Procurement of Goods
   172                                                                             √       √         √            √
                                 and Services
   173       August 28, 2023     HCMD material                                     √       √         √            √
                                 Proposed Changes to the Authority for
   174                                                                             √       √         √            √
                                 Employee Disciplinary Sanctions
   175                           Retail TPF Achievement Strategy in 2023           √       √         √            √

   176       August 31, 2023     KPTI                                              √       √         √            √

   177                           General Agenda                                    √       √         √        Permission

   178       September 5, 2023   Revamp Website BTN                                √       √         √        Permission

   179                           Update on Progress of BTN Tower 2                 √       √     Permission   Permission


452      PT Bank Tabungan Negara (Persero) Tbk
Page 84
                                                                      2023 Annual Report




Attendance
                                                                                                 Quorum
JSM          ENR     AND          EW      NRP      HP            BY         ASN            ASN

√            √         √          √        √        √            √           √             12     12

√            √         √          √       NDR       √           NDR          √             10     10

√            √         √          √       NDR       √           NDR          √             10     10

√            √         √          √       NDR       √           NDR          √             10     10


√            √         √          √       NDR       √           NDR          √             10     10


√            √         √          √        √    Permission       √           √             9       9

√            √         √          √        √    Permission       √           √             9       9

√            √         √          √        √    Permission       √           √             9       9

√            √         √          √        √    Permission       √           √             9       9

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √     Permission   Service    √        √            √           √             9       9

√            √     Permission   Service    √        √            √           √             9       9

√            √     Permission   Service    √        √            √           √             9       9

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √         √          √        √        √            √           √             12     12

√            √     Permission     √        √        √            √           √             10     10

√            √     Permission     √        √        √            √           √             10     10

√            √     Permission     √        √        √            √           √             9       9


                                                        PT Bank Tabungan Negara (Persero) Tbk      453
Page 85
                                                         Corporate
                                                         Governance




 Director
 Meeting           Date                             Topics
                                                                            HK   NPN     OFR        SWB           HRG
 Number
                                  Update on BTN and IFG Life Partnership
   180                                                                            √       √       Permission   Permission
                                  Collaboration Progress
   181                            Network Development Plan                        √       √           √            √

   182                            Bank BTN's Significant Findings in 2023         √       √           √            √

   183       September 11, 2023   Liquidity Buffer Institution Customers          √       √           √            √

   184                            SBU Project Update                              √       √           √            √
                                  Accelerating the Achievement of
   185                                                                            √     Service       √            √
                                  Subsidized KPR Realization in 2023
                                                                                 Ser-
   186                            Risk Management Committee                               √        Service      Service
                                                                                 vice
             September 12, 2023                                                  Ser-
   187                            Performance Review for August 2023                      √        Service      Service
                                                                                 vice
   188                            ALCO                                            √       √           √            √

   189                            General Agenda                                  √       √           √            √

   190                            Jalin ATM and EDC Merchant updates              √       √           √            √
             September 25, 2023
   191                            HCMD material                                   √       √           √            √

   192                            ALCO                                            √       √           √            √
                                                                                        Permis-
   193       September 26, 2023   Risk Management Committee                       √                   √        Permission
                                                                                         sion
   194                            General Agenda                                  √       √       Education    Permission
                                  Update on Commercial Bank
   195                            Governance Provisions Regarding the             √       √       Education    Permission
                                  Issuance of POJK 17/2023
                                  Market Insight Aspirations Regarding
   196       2 October 2023                                                       √       √       Education        √
                                  BBTN Share Prices
                                  Gathering of Directors' & SEVP's
   197                                                                            √       √       Education        √
                                  Aspirations Regarding the 2024 RKAP
   198                            HCMD material                                   √       √       Education        √

   199                            HCMD material                                   √       √       Education        √

   200                            General Agenda                                  √       √       Education        √

   201                            KCP Optimization Update                         √       √       Education        √
             October 9, 2023
   202                            Update regarding Guarantee Fund                 √       √       Education        √
                                  Anticipate and Secure Ransomware
   203                                                                            √       √       Education        √
                                  Attacks
   204                            Performance Review September 2023               √       √       Education        √
             October 10, 2023
   205                            ALCO                                            √       √       Education        √
                                  Update on Purchase Progress of BTN
   206                                                                            √       √           √            √
                                  Tower 2
                                  Bank BTN Investment Plan in Venture
   207       October 16, 2023                                                     √       √           √            √
                                  Fund Products
                                  Review Struktur Grade BTN dan
   208                                                                            √       √           √            √
                                  Kewenangan Memutus Mutasi
   210                            General Agenda                                  √       √           √            √
                                  Update & Performance Cash
   211                                                                            √       √           √            √
                                  Management
                                  Proposed Speed Up Implementation
   212       October 24, 2023     of the End State Phase HCBP                     √       √       Permission       √
                                  Organizational Structure
   213                            HCMD Committee                                  √       √       Permission       √

   214                            ALCO                                            √       √       Permission       √
                                  Socialization of Company Document
   215                                                                            √       √           √        Permission
             October 30, 2023     Standardization
   216                            Proposed RKAP for 2024                          √       √           √        Permission




454      PT Bank Tabungan Negara (Persero) Tbk
Page 86
                                                                           2023 Annual Report




   Attendance
                                                                                                      Quorum
   JSM          ENR     AND        EW      NRP       HP           BY             ASN            ASN

    √           √     Permission   √        √        √            √               √             9       9

    √           √         √        √     Service     √            √               √             11     11

    √           √         √        √     Service     √            √               √             11     11

    √           √         √        √     Service     √            √               √             11     11

    √           √         √        √     Service     √            √               √             11     11

    √           √         √        √     Service     √            √               √             11     11

    √           √         √        √        √        √            √               √             9       9

    √           √         √        √        √        √            √               √             9       9

    √           √         √        √        √        √            √               √             12     12

    √           √         √        √        √        √            √           Permission        11     11

    √           √         √        √        √        √            √           Permission        11     11

    √           √         √        √        √        √            √           Permission        11     11

    √           √     Permission   √        √        √            √           Permission        10     10

Permission      √     Permission   √    Permission   √            √               √             7       7

    √           √         √        √        √        √            √               √             10     10


    √           √         √        √        √        √            √               √             10     10


    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             12     12

    √           √         √        √        √        √            √               √             12     12

    √           √         √        √        √        √            √               √             12     12

    √           √         √        √        √        √            √               √             12     12

    √           √         √        √        √        √            √               √             12     12


    √           √         √        √        √        √            √               √             11     11


    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √            √               √             11     11

    √           √         √        √        √        √         Education         Sick           9       9

    √           √         √        √        √        √         Education         Sick           9       9




                                                         PT Bank Tabungan Negara (Persero) Tbk          455
Page 87
                                                         Corporate
                                                         Governance




 Director
 Meeting           Date                            Topics
                                                                               HK    NPN      OFR    SWB      HRG
 Number
   217                           Corporate Uniform Design for 2024                    √       √       √       √
             November 30, 2023   Consumer Credit Quality Update Position
   218                                                                                √       √       √       √
                                 31 October 2023
   219                           Special Agenda                                       √       √       √       √
                                 Bank BTN Organizational Structure for
   220       November 8, 2023                                                         √       √       √       √
                                 2024
   221                           2024 Business Plan                                   √       √       √       √
   222                           BTN 2 Tower Purchase Plan                            √       √       √       √
                                 Bank BTN Pension Fund Business Plan
   223       November 13, 2023                                                        √       √       √       √
                                 for 2024
   224                           Management Review Meeting (RTM)                      √       √       √       √
   225                           General Agenda                                       √       √     Service   √
   226       November 14, 2023   Performance Review October 2023                      √       √       √       √
   227                           ALCO                                                 √       √       √       √
   228                           General Agenda                                       √       √     Service   √
                                 Limited Review of Financial Reports as of
   229                                                                                √       √     Service   √
                                 30 September 2023
                                 Special Audit of the Kring KC Palembang
   230                                                                                √       √     Service   √
                                 Case
             November 20, 2023
                                 Discussion of Occupational Safety
   231                           and Health Management System                         √       √     Service   √
                                 Management
   232                           Proposed RAKB for 2024                               √       √     Service   √
   233                           HCMD Committee                                       √       √     Service   √
   234       November 21, 2023   KPTI                                                 √       √       √       √
                                 Submission of 10 Strategic Initiatives for
   235       November 27, 2023                                                        √       √       √       √
                                 2024
   236       November 28, 2023   ALCO                                                 √       √       √       √
   237                           Sharia Banking Roadmap                               √       √       √       √
                                                                                    Permis-
   238                           Financial Statements November 2023                           √       √       √
                                                                                     sion
             December 4, 2023    Update on the Novation Credit Progress             Permis-
   239                                                                                        √       √       √
                                 of Priyek East Point and Randu Alas                 sion
   240                           Col 2 Drop Strategy                                  √       √       √       √
   241                           General Agenda                                       √       √       √       √
                                 Evaluation Report on the Effectiveness of
                                 Implementation of the 2023 APU, PPT
                                 & PPPSPM Program as Part of Active
   242                                                                                √       √       √       √
                                 Supervision of the Board of Directors
                                 in accordance with POJK Number 8 of
                                 2023
             December 11, 2023
   243                           Update Liquidity Conditions                          √       √       √       √
                                 Transfer of Guarantee Funds to Escrow
   244                                                                                √       √       √       √
                                 Account
   245                           OJK Audit Follow-up                                  √       √       √       √
   246                           General Agenda                                       √       √       √       √
   247                           ALCO                                                 √       √       √       √
             December 12, 2023
   248                           Performance Review November 2023                     √       √       √       √
                                 November Performance Review and
   250                           December Prognosis as well as Bank                   √       √       √       √
                                 BTN Pension Fund Roadmap
                                 Naming, Stacking & Design of BTN
   251                                                                                √       √       √       √
                                 Tower 2
                                 Review of the Implementation of the
   252       December 27, 2023                                                        √       √       √       √
                                 Collective Labor Agreement in 2022
                                 Review of POJK 17 of 2023 in the
                                 process of assessing the ability and
   253                                                                                √       √       √       √
                                 suitability of prospective main parties for
                                 commercial banks
   254                           Project Tiger updates                                √       √       √       √
   255       December 29, 2023   Guarantee Fund Cut Off                               √       √       √       √




456      PT Bank Tabungan Negara (Persero) Tbk
Page 88
                                                                               2023 Annual Report




  Attendance
                                                                                                          Quorum
 JSM           ENR     AND        EW      NRP          HP             BY             ASN            ASN

  √            √         √        √        √            √         Permission          √             11     11

  √            √         √        √        √            √         Permission          √             11     11

  √            √         √        √        √            √             √               √             12     12

  √            √         √        √        √            √             √               √             12     12

  √            √         √        √        √            √             √               √             12     12
  √            √         √        √    Paid leave       √             √               √             11     11

  √            √         √        √    Paid leave       √             √               √             11     11

  √            √         √        √    Paid leave       √             √               √             11     11
  √            √         √        √    Paid leave       √             √               √             11     11
  √            √         √        √    Paid leave       √             √               √             11     11
  √            √         √        √    Paid leave       √             √               √             11     11
  √            √         √        √        √            √             √               √             11     11

  √            √         √        √        √            √             √               √             11     11

  √            √         √        √        √            √             √               √             11     11


  √            √         √        √        √            √             √               √             11     11

  √            √         √        √        √            √             √               √             11     11
  √            √         √        √        √            √             √               √             11     11
  √            √         √        √        √            √             √               √             12     12

  √            √     Permission   √        √            √             √               √             11     11

  √            √         √        √        √            √             √               √             12     12
  √            √         √        √        √            √             √               √             12     12

  √            √         √        √        √            √             √               √             11     11

  √            √         √        √        √            √             √               √             11     11

  √            √         √        √        √            √             √               √             12     12
  √            √         √        √        √            √             √               √             12     12



Service        √         √        √        √         Service          √               √             10     10



Service        √         √        √        √         Service          √               √             10     10

Service        √         √        √        √         Service          √               √             10     10

Service        √         √        √        √         Service          √               √             10     10
Service        √         √        √        √         Service          √               √             10     10
  √            √         √        √        √         Service          √               √             11     11
  √            √         √        √        √         Service          √               √             11     11

  √            √         √        √        √            √             √               √             12     12


  √            √         √        √        √            √             √               √             12     12

  √            √         √        √        √            √             √               √             12     12



  √            √         √        √        √            √             √               √             12     12


  √            √         √        √        √            √             √               √             12     12
  √            √         √        √        √        Permission        √               √             10     10




                                                            PT Bank Tabungan Negara (Persero) Tbk            457
Page 89
                                                                              Corporate
                                                                              Governance




Joint Board of Directors Meeting with the Board of Commissioners

Throughout 2023, the agenda, dates and participants for meetings between the Board of Directors and the Board of Commissioners are as follows.

Table of Board of Directors and Board of Commissioners Meetings
                                                                                                        Attendance
 No.       Date              Topic
                                             HK    NPN    OFR   SWB HRG          JSM   ENR   AND   EW   NRP    HP     CH    IL   ABA   AJL   SAS   AH     HTZ    HAS   MYP
                  Performance Review
                  January 2023,
                  Progress Initiative
        February Corporate Plan, Stress
 1.                                         √      √            √      √         √     √     √     √    √            √      √    √     √     √     √      √      √     ijin
        22, 2023 Testing, Monitoring
                  Risk Appetite, Risk
                  Tolerance, and
                  Recovery Plan
                  Performance Review
                  March 2023,
                  Progress Initiative
        April 12, Corporate Plan, Stress
 2.                                                √*     √*    √      √         √     √     √     √    √     √*     √      √    √     sakit √     √      ijin   √     √
        2023      Testing, Monitoring
                  Risk Appetite, Risk
                  Tolerance, and
                  Recovery Plan
                  Performance Review
                  Bankwide and
                  UUS, Monitoring
                  Risk Appetite, Risk
        June 21,  Tolerance, dan
 3.                                                √      √     √      Ijin      √     √     √     √    √     √      √      √    √     sakit √     √      √      √     √
        2023      Recovery Plan
                  Bankwide and UUS,
                  Progress Initiative
                  Corporate Plan, Revisi
                  RBB and RKAP
                  Performance Review
                  Bankwide and
                  UUS, Monitoring
                  Risk Appetite, Risk
        August
 4.               Tolerance, and                   √      √     √      √         √     √     √     √    √     √      √      √    √           √     √      ijin   √     ijin
        23, 2023
                  Recovery Plan
                  Bankwide and UUS,
                  Progress Initiative
                  Corporate Plan
                  Performance Review
                  Bankwide and UUS,
                  Monitoring Risk
                  Appetite, Risk Tolerance,
                  and Recovery Plan,
        October   Progress Initiative
 5.                                                √      √     √      √         √     √     √     √    √     √      √      √    √           √     ijin   √      √     ijin
        18, 2023 Corporate Plan, Evaluasi
                  and Monitoring the
                  Implementation of New
                  Product Activities and
                  Activities for the Bank's
                  interests
                  Bankwide Performance
                  Review accompanied
                  by KPI Achievement
                  Prognosis, UUS
                  Performance Review
                  accompanied by
        December KPI Achievement
 6.                                                Ijin   √     √      √         √     √     √     √    √     √      Ijin   √    √           √     ijin   √      √     ijin
        20, 2023 Prognosis, Monitoring
                  Risk Appetite, Risk
                  Tolerance, and
                  Recovery Plan
                  Bankwide and UUS,
                  Progress Initiative
                  Corporate Plan

*) as an observer since being appointed at the GMS until effective June 7 2023
**) Termination of office on August 12 2023 due to death


The agenda, date and participants of the meeting between the Board of Commissioners and the Board of Directors can be seen in the
Board of Commissioners Meeting in the Corporate Governance Chapter of this Annual Report.



458               PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                                2023 Annual Report




Meeting Frequency and Attendance of the Board of Directors

Nnumber of Meetings
                                                                                         Joint Meetings of the Board of Directors
                                                Board of Directors Meetings                                                                                   GMS
                                                                                             and the Board of Commissioners


       Nama                Position       Number and Percentage of Attendance Number and Percentage of Attendance Number and Percentage of Attendance


                                           Number of Number of                            Number of Number of                             Number of Number of
                                                                 Percentage                                     Percentage                                      Percentage
                                            Meetings Attendances                           Meetings Attendances                            Meetings Attendances

 Haru          President
                                               34              28             80%               2               2            100%               2               2            100%
 Koesmahargyo* Director

 Nixon L.P.            President
                                              225             223             87%              12              11             92%               2               2            100%
 Napitupulu**          Director

 Oni Febriarto         Vice President
                                              218             207             95%              11              10             91%                -              -               -
 Rahardjo***           Director

                       Director of IT
 Andi Nirwoto                                 255             231             91%              12              12            100%               2               2            100%
                       and Digital

                       Director
 Elisabeth Novie
                       of Assets              255             240             94%              12              12            100%               2               2            100%
 Riswanti
                       Management

                       Director of
 Jasmin                Distribution           255             231             91%              11              10             91%               2               2            100%
                       and Funding

                       Director
 Setiyo Wibowo         of Risk                255             216             85%              12              12            100%               2               2            100%
                       Management

                       Director of
 Hirwandi Gafar                               255             222             87%              12               9             75%               2               2            100%
                       Consumers

 Nofry Rony            Director of
                                              255             227             89%              12              11             92%               2               2            100%
 Poetra                Finance

                       Director
                       of Human
 Eko Waluyo            Capital,               255             241             95%              12              12            100%               2               2            100%
                       Compliance
                       and Legal

                       Director of
 Hakim
                       Institutional          218             200             92%              10              10            100%                -              -               -
 Putratama***
                       Banking

*Resigned his position on March 16 2023 based on the results of the 2023 Annual General Meeting of Shareholders (AGMS)
** Transfer of his original assignment as Vice President Director to become President Director since March 16, 2023 and received an effective statement from the OJK starting June 7 2023
***Started in office on March 16 2023 and received an effective statement from the OJK starting June 7, 2023




Training and/or Improving the Competence of Board of Directors Members


Policies related to training and/or competency development for the Board of Directors are regulated in the Good Corporate Governance
Guidelines. The comprehensive program for the Board of Directors includes:
1. The capacity-building programs are carried out to increase the effectiveness of the work of the Board of Directors.
2. Each member of the Board of Directors participating in the programs such as seminars and/or training is required to have
    presentations to share their knowledge or to give any information.
3. The material received from the programs must be properly documented in a separate section. The documentation becomes the
    responsibility of the Corporate Secretary. This material must be available if further needed.




                                                                                                      PT Bank Tabungan Negara (Persero) Tbk                                     459
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                                                           Corporate
                                                           Governance




The training and/or competency improvement that the Board of Directors has participated in during 2023 is as follows.


                                            Types of Training and Development Materials                  Time and place
       Name                 Position                                                                                               Organizer
                                                       Competency / Training                             Implementation

                                                                                                                                Indonesian
                                           Workshop & Refreshment Asecor Professional Qualification   Jakarta, January 10,      Banking
                                           & Submission of LPPI Assessor Decree for the 2023 period   2023                      Development
                                                                                                                                Institute
 Haru
                      President Director                                                              Jakarta, January 11,      Ministry of
 Koesmahargyo*                             Prevention of Corruption within BUMN
                                                                                                      2023                      BUMN and KPK
                                                                                                                                Financial
                                           Strengthening the Financial Services Sector in             Jakarta, February 6,
                                                                                                                                Services
                                           Maintaining Economic Growth                                2023
                                                                                                                                Authority
                                                                                                      Semarang, May 12 -13,     PwC and Korn
                                           Leadership Forum "Envisioning Culture For Leader"
                                                                                                      2023                      Ferry
                                                                                                                                Indonesian
                                                                                                                                Banking
 Nixon L.P.                                Refreshment Treasury Dealer Advance                        Semarang, June 7, 2023
                      President Director                                                                                        Development
 Napitupulu**
                                                                                                                                Institute
                                                                                                      Chicago, USA,
                                           Asean Global Leadership Program (AGLP) - SRW&Co
                                                                                                      September 18 – 22,        SRW&Co
                                           "Leading Innovation in Global Economic Recovery"
                                                                                                      2023
                                                                                                      Jakarta, March 31,        Mahesa Prima
                                           Level 5 Risk Management Certification Refreshment
                                                                                                      2023                      Solusindo
                                                                                                                                Strategic
                                           Risk Management Class for Executive                        Jakarta, April 12, 2023   Development
                                                                                                                                Group
                                                                                                                                Indonesian
                                           Bank Management Executive Training Overview for                                      Banking
                                                                                                      Jakarta, April 27, 2023
                                           BOD                                                                                  Development
                                                                                                                                Institute
 Oni Febriarto        Vice President
                                                                                                      Semarang, May 12 -13,     PwC and Korn
 Rahardjo***          Director             Leadership Forum "Envisioning Culture For Leader"
                                                                                                      2023                      Ferry
                                           GRC Masterclass Program 2023 "Socialization of             Jakarta, September 14,    BUMN School of
                                           BUMN & BUMN Subsidiary Ratings"                            2023                      Excellence
                                           GRC Masterclass Program 2023 “ESG for Boards –             Jakarta, September        BUMN School of
                                           Governance of ESG”                                         27,2023                   Excellence
                                                                                                                                Indonesian
                                                                                                      Bali, December 13 – 14,   Institute for
                                           IICD - Special Directorship Program 2023
                                                                                                      2023                      Corporate
                                                                                                                                Directorship
                                                                                                      Jakarta, April 9 – 10,
                                           Business English Preparation                                                         SUN Education
                                                                                                      2023
                                                                                                      Semarang, May 12 -13,     PwC dan Korn
                                           Leadership Forum "Envisioning Culture For Leader"
                                                                                                      2023                      Ferry
                                                                                                                                Mahesa Prima
                                           Level 5 Risk Management Certification Refreshment          Jakarta, May 22, 2023
                                                                                                                                Solusindo
                      Director of IT and
 Andi Nirwoto                              GRC Masterclass Program 2023 "Socialization of             Jakarta, September 14,    BUMN School of
                      Digital
                                           BUMN & BUMN Subsidiary Ratings"                            2023                      Excellence
                                           GRC Masterclass Program 2023 "Integrated                   Jakarta, October 5,       BUMN School of
                                           Information For Supervisionary Board"                      2023                      Excellence
                                                                                                                                International
                                            IMD Executive Education "Digital Transformation for       Switzerland, November
                                                                                                                                Management
                                           Boards"                                                    14 – 25, 2023
                                                                                                                                Development
                                                                                                      Semarang, May 12 -13,     PwC and Korn
                                           Leadership Forum "Envisioning Culture For Leader"
                                                                                                      2023                      Ferry
                                           GRC Masterclass Program 2023 "Integrated                   Jakarta, October 5,       BUMN School of
 Elisabeth Novie      Director of Assets   Information For Supervisionary Board"                      2023                      Excellence
 Riswanti             Management
                                                                                                                                Indonesian
                                                                                                      Bali, December 13 – 14,   Institute for
                                           IICD - Special Directorship Program 2023
                                                                                                      2023                      Corporate
                                                                                                                                Directorship




460          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                 2023 Annual Report




                                           Types of Training and Development Materials              Time and place
         Name             Position                                                                                            Organizer
                                                      Competency / Training                         Implementation

                                                                                                 Semarang, May 12 -13,     PwC and Korn
                                          Leadership Forum "Envisioning Culture For Leader"
                    Director of                                                                  2023                      Ferry
Jasmin              Distribution and
                    Funding               GRC Masterclass Program 2023 "Integrated               Jakarta, October 5,       BUMN School of
                                          Information For Supervisionary Board"                  2023                      Excellence

                                                                                                 Semarang, May 12 -13,     PwC and Korn
                                          Leadership Forum "Envisioning Culture For Leader"
                                                                                                 2023                      Ferry
                                                                                                                            Boston
                                          BCG's Strategy Advantage Roundtable: Building
                                                                                                 Jakarta, July 18, 2023    Consulting
                                          Resilience in Times of Uncertainty
                                                                                                                           Indonesia
                                                                                                 Singapore, August 3,
                                          SAS Innovate 2023                                                                SAS Institute
                    Director of Risk                                                             2023
Setiyo Wibowo
                    Management
                                                                                                                           BUMN
                                          GRC Masterclass Program 2023 "Pre IPO and Post
                                                                                                 Jakarta, August 10,       Leadership &
                                          IPO - Rating and issuance of debt securities & sukuk
                                                                                                 2023                      Management
                                          (EBUS)"
                                                                                                                           Institute
                                                                                                 Ann Arbor, Michigan,      Michigan Ross
                                          Leading Future-Ready Teams                             USA, October 2 – 5,       - Michigan
                                                                                                 2023                      University
                                                                                                                           BUMN
                                                                                                 Jakarta, February 10 –    Leadership &
                                          Pelatihan Chief Business Officer Development (CBOD)
                    Director of                                                                  11, 2023                  Management
Hirwandi Gafar                                                                                                             Institute
                    Consumers
                                                                                                 Semarang, May 12 -13,     PwC and Korn
                                          Leadership Forum "Envisioning Culture For Leader"
                                                                                                 2023                      Ferry
                                                                                                 Jakarta, March 31,        Mahesa Prima
                                          Level 5 Risk Management Certification Refreshment
                                                                                                 2023                      Solusindo
                                                                                                 Semarang, May 12 – 13,    PwC and Korn
                                          Leadership Forum "Envisioning Culture For Leader"
                                                                                                 2023                      Ferry
                                                                                                 Singapore, June 27,
                                          Global ESG Corporate Access                                                      BNP Paribas
                                                                                                 2023
                                                                                                                           BUMN
                                          GRC Masterclass Program 2023 "Pre IPO and Post
                                                                                                 Jakarta, August 10,       Leadership &
Nofry Rony Poetra   Director of Finance   IPO - Rating and issuance of debt securities & sukuk
                                                                                                 2023                      Management
                                          (EBUS)"
                                                                                                                           Institute
                                          GRC Masterclass Program 2023 "Socialization of         Jakarta, September 14,    BUMN School of
                                          BUMN & BUMN Subsidiary Ratings"                        2023                      Excellence
                                          GRC Masterclass Program 2023 “ESG for Boards –         Jakarta, September 27,    BUMN School of
                                          Governance of ESG”                                     2023                      Excellence
                                                                                                 USA, November 15 –        Wharton
                                          Wharton Executive Education "CEO Academy"
                                                                                                 16, 2023                  Business School
                                                                                                 Jakarta, March 31,        Mahesa Prima
                                          Level 5 Risk Management Certification Refreshment
                                                                                                 2023                      Solusindo
                                                                                                                           Indonesian
                                                                                                                           Institute for
                                          Deepening of the ASEAN CG Scorecard IICD               Jakarta, April 18, 2023
                                                                                                                           Corporate
                                                                                                                           Directorship
                                          Asean Global Leadership Program (AGLP) - SRW&Co        Barcelona, May 15 – 19,
                                                                                                                           SRW&Co
                                          "Shaping The Future with Inspiring Leadership"         2023
                                                                                                 Semarang, May 12 – 13,    PwC and Korn
                    Director of Human     Leadership Forum "Envisioning Culture For Leader"
                                                                                                 2023                      Ferry
Eko Waluyo          Capital, Compliance
                    and Legal                                                                                              BUMN
                                          GRC Masterclass Program 2023 "Pre IPO and Post
                                                                                                 Jakarta, August 10,       Leadership &
                                          IPO - Rating and issuance of debt securities & sukuk
                                                                                                 2023                      Management
                                          (EBUS)"
                                                                                                                           Institute
                                          GRC Masterclass Program 2023 "Socialization of         Jakarta, September 14,    BUMN School of
                                          BUMN & BUMN Subsidiary Ratings"                        2023                      Excellence
                                                                                                 Jakarta, September 20,    BUMN School of
                                          Chief Human Resources Officer 2023
                                                                                                 2023                      Excellence
                                                                                                 Jakarta, September 22,
                                          Certified Anti Fraud Professional                                                Asia Anti Fraud
                                                                                                 2023




                                                                              PT Bank Tabungan Negara (Persero) Tbk                        461
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                                                                               Corporate
                                                                               Governance




                                                              Types of Training and Development Materials                             Time and place
          Name                        Position                                                                                                                         Organizer
                                                                         Competency / Training                                        Implementation

                                                            Seminar "The Impact of Attribution of Employee
                                                                                                                                                                   Indonesian
                                                            Benefits Based on PSAK 24 Paragraph 70 on the                        Jakarta, September 24,
                                                                                                                                                                   Accountants
                                                            Recording of Post-Employment Benefits After the                      2023
                                                                                                                                                                   Association
                                                            Implementation of the Job Creation Law"
                                                            GRC Masterclass Program 2023 “ESG for Boards –                       Jakarta, September 27,            BUMN School of
                                                            Governance of ESG”                                                   2023                              Excellence
                                                            GRC Masterclass Program 2023 “GC Methodology                         Jakarta, October 25,              BUMN School of
                                                            and Environmental and Social Management System”                      2023                              Excellence
                                                            Socialization of Prevention of Crime in the Financial                                                  Financial
                                                                                                                                 Jakarta, December 4,
                                                            Services Sector to Financial Services Business Actors                                                  Services
                                                                                                                                 2023
                                                            in the Banking Sector in DKI Jakarta                                                                   Authority
                                                                                                                                                                   Indonesian
                                                                                                                                 Bali, December 13 – 14,           Institute for
                                                            IICD - Special Directorship Program 2023
                                                                                                                                 2023                              Corporate
                                                                                                                                                                   Directorship
                                                                                                                                                                   Indonesian
                                                            Bank Management Executive Training Overview for                      Jakarta, April 8 – 9,             Banking
                                                            BOD                                                                  2023                              Development
                                                                                                                                                                   Institute
                                                                                                                                                                   Indonesian
                                                                                                                                                                   Banking
                                                            Risk Management Class for Executive                                  Jakarta, April 12, 2023
                                                                                                                                                                   Development
                               Director of                                                                                                                         Institute
 Hakim Putratama***
                               Institutional Banking
                                                                                                                                 Semarang, May 12 –                PwC and Korn
                                                            Leadership Forum "Envisioning Culture For Leader"
                                                                                                                                 13, 2023                          Ferry
                                                            GRC Masterclass Program 2023 "Integrated                             Jakarta, October 5,               BUMN School of
                                                            Information For Supervisionary Board"                                2023                              Excellence
                                                                                                                                 Boston, Massachusetts,
                                                            Executive Education HBS “Strategy: Building and                                                        Harvard Business
                                                                                                                                 USA, December 12 –
                                                            Sustaining Competitive Advantage”                                                                      School
                                                                                                                                 15, 2023

* Resigned from office on March 16 2023 based on the results of the 2023 Annual General Meeting of Shareholders (AGMS).
** Transfer of his original assignment as Vice President Director to become President Director since March 16, 2023 and received an effective statement from the OJK starting June 7, 2023.
***Started in office on March 16, 2023 and received an effective statement from the OJK starting June 7, 2023.



Orientation Program for New Members of the Board of Directors

The Company has always held an Orientation Program or Introduction for newly-appointed members of the Board of Directors to be
acquainted with one another and establish cooperation as a solid, comprehensive, effective team. The Orientation Program also aims to
provide insight into the condition of the Company in general. The Board of Directors’ orientation program includes:
1. Implementation of Good Corporate Governance and Code of Conduct principles in the Company.
2. Description regarding the duties and responsibilities of the Board of Commissioners and Board of Directors and other restrictions.
3. Overview of the Company in terms of the objectives, nature, and scope of the Company’s activities, financial performance, and
    strategies, as well as the Company’s short and long-term plans, risks, Internal Control, and other strategic issues.
4. Information regarding delegated authority, Internal and External Audits, Internal Control systems and policies, and the Audit
    Committees




462              PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                      2023 Annual Report




During 2023, an orientation program will be implemented for new members of the Board of Directors as follows:


                                                                                                                              Implementation
 No.      Director's Name               Position                                         Agenda
                                                                                                                                   date
                                                            Objectives and Scope of Bank Activities in accordance with the
                                                                                                                             March 28, 2023
                                                            Articles of Association

                                                            Financial Performance, Strategy, Short Term and Long Term
                                                                                                                             March 28, 2023
                                                            Business Plans, Competitive Position

                                                            Internal Control System, Internal and External Audit             March 29, 2023

                                                            Directors' Facilities                                            March 29, 2023
 1.    Oni Febriarto Rahardjo   Vice President Director
                                                            Compliance, GCG, Work Relationships for the Board of
                                                            Commissioners and Directors, Work Rules for the Board of         March 30, 2023
                                                            Directors

                                                            Risk Management and Bank Health Level                            March 31, 2023

                                                            Company Culture                                                  March 30, 2023

                                                            Governance Policies and Procedures                               March 28, 2023

                                                            Objectives and Scope of Bank Activities in accordance with the
                                                                                                                             March 28, 2023
                                                            Articles of Association

                                                            Financial Performance, Strategy, Short Term and Long Term
                                                                                                                             March 28, 2023
                                                            Business Plans, Competitive Position

                                                            Internal Control System, Internal and External Audit             March 28, 2023

                                Director of Institutional   Directors' Facilities                                            March 28, 2023
 2.    Hakim Putratama
                                Banking                     Compliance, GCG, Work Relationships for the Board of
                                                            Commissioners and Directors, Work Rules for the Board of         March 28, 2023
                                                            Directors

                                                            Risk Management and Bank Health Level                            March 28, 2023

                                                            Company Culture                                                  March 28, 2023

                                                            Governance Policies and Procedures                               March 28, 2023



Implementation of Directors’ Duties

Throughout 2023, all members of the Board of Directors have carried out management duties and their accountability reports have been
submitted to the Board of Commissioners in the form of:
1. Performance Review Report
2. Bank Health Level Report
3. Compliance Function Fulfillment Report
4. Corporate Governance Implementation Report
5. Audit Findings Follow-up Report


The Board of Directors has also implemented the principles of Corporate Governance in every business activity of the Company at all
organizational levels during 2023, as follows:
1. Implement corporate governance criteria in accordance with POJK and BUMN Ministerial Regulations.
2. Implement corporate governance according to the ASEAN CG Scorecard criteria.
3. Socialization and implementation of the Code of Conduct.
4. Gratification report to the Corruption Eradication Commission.
5. Self Assessment of the Implementation of Corporate Governance in accordance with POJK.
6. Prepare and submit Annual Reports and Sustainability Reports.




                                                                                    PT Bank Tabungan Negara (Persero) Tbk               463
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                                                          Corporate
                                                          Governance




Performance Assessment and Assessment Basis                            3. Violating the provisions of the Articles of Association and/or
for Committees Under The Board of Directors,                               laws and regulations.
Corporate Secretary, Internal Audit Unit, and Risk                     4. Involved in actions that harm the Company and/or the State.
Management Unit                                                        5. Committing any actions that violate ethics and/or performing
                                                                           bad manners as members of the Board of Directors.
The Company has established and set forth the structure and            6. Declared guilty by a court decision with permanent legal
membership of the Committees to assist the duties of the Board of          force.
Directors. The supporting Committees have a role in monitoring,        7. Resigned.
creating effectiveness in problem-solving, and developing              8. Other reasons deemed appropriate by the GMS for the
strategic aspects proposed by the Company, in accordance with              interests and objectives of the Company.
the prevailing legislation. These Committees consist of:               The decision for dismissal due to any of the reasons mentioned
1. Risk Management Committee                                           above shall be made after the member to be dismissed has been
2. Asset and Liability Management Committee (ALCO)                     given an opportunity to defend him/herself.
3. Credit Policy Committee
4. Credit Committee                                                    In the event of consanguineous relation up to the third degree,
5. Human Capital Committee                                             both lineal and collateral, and an affinity (in-laws) relationship
6. Information Technology Steering Committee (IT)                      between any member of the Board of Directors and any member
7. Transformation Committee                                            of the Board of Commissioners, GMS shall have the authority to
8. Business Committee                                                  dismiss one of them.
9. Environmental, Social and Governance Committee (ESG)
                                                                       A member of the Board of Directors may resign from his/her
An evaluation is conducted on committees under the Board of            position before his/her term of office ends. In the event that a
Directors to assess their performance in assisting the managerial      member of the Board of Directors resigns, the resigning member
duties of the Board of Directors. The procedure for evaluating         must submit a written resignation request regarding his/her
the performance of the supporting committees is carried out            purpose to the company.
periodically by the Board of Directors. The performance of
committees under the Board of Directors is evaluated based             The Company must hold GMS to make a decision regarding the
on the number of meetings held and the number of committee             resignation request of such member of the Board of Directors
members present during the fiscal year. In 2023, the Board of          at most 90 (ninety) days after receiving the resignation letter.
Directors believes that its committees have fulfilled their duties     The position of a Member of the Board of Directors shall be
and responsibilities appropriately.                                    terminated if:
                                                                       1. The resignation has been effective.
In carrying out its duties, the Board of Directors is assisted by      2. The said person passes away.
Committees under the Board of Directors and supporting units           3. The term of office ends.
including the Corporate Secretary, Internal Audit Unit and Risk        4. The said person is dismissed by GMS resolution.
Management Unit. Performance appraisal for the Corporate               5. The said person is declared bankrupt by a Commercial
Secretary, Internal Audit Unit and Risk Management Unit is                 Court, which has permanent legal force, or is placed under
assessed based on Key Performance Indicators (KPI), namely                 receivership under a court decision.
Main Targets, Collaborations, Initiatives and others. KPI              6. The said person is no longer deemed qualified as a member
achievement in 2023 for the Corporate Secretary, Internal Audit            of the Board of Directors under the provisions of the Articles
Unit and Risk Management Unit reached more than 100%. The                  of Association and laws and regulations, including as a
Corporate Secretary, Internal Audit Unit and Risk Management               holder of any restricted concurrent positions.
Unit have carried out their duties properly.
                                                                       Members of the Board of Directors can be temporarily dismissed
Mechanism For The Resignation and Dismissal                            by the Board of Commissioners by stating the reasons if they
of The Board of Directors                                              act contrary to the Articles of Association, there are indications
                                                                       that they are taking actions that are detrimental to the Company,
GMS may dismiss any member of the Board of Directors at any            they are neglecting their obligations, or there are urgent reasons
time if, for the reasons concerned, they do the following:             for the Company by considering the provisions stipulated by the
1. Unable/inadequate in fulfilling his/her obligations agreed          Articles of Association. The decision to strengthen or revoke the
    upon in the management contract.                                   temporary dismissal of a member of the Board of Directors by a
2. Unable to properly perform his/her responsibilities.                member of the Board of Commissioners is stipulated in the GMS.




464         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                2023 Annual Report




Board of Commissioners

The Board of Commissioners is the organ of the Company whose duty it is to carry out general and/or specific supervision in accordance
with the Articles of Association and provide advice to the Board of Directors. The Board of Commissioners is the party whose duty or
function is to supervise and provide advice to the Board of Directors for the benefit of the Company and Shareholders in particular and
its stakeholders in general.




Duties and Responsibilities of the Board of                                 a. providing funds to related parties in accordance with the
Commissioners                                                                    Financial Services Authority Regulations regarding the
                                                                                 maximum limit for granting credit and providing large funds
The duties and responsibilities of the Board of Commissioners as                 for public companies and the Financial OJK Regulation
stipulated in the Board of Commissioners’ Work Guidelines and                    regarding the maximum limits for distributing funds and
Code of Conduct are as follows:                                                  distributing large funds for sharia public companies; and
1. The Board of Commissioners is responsible for supervising the            b. other matters stipulated in the Company’s articles of
     Company’s policies and management of the Board of Directors,                association or statutory provisions.
     providing advice to the Board of Directors, and is responsible     7 Decision making on the Company’s operational activities by
     for such supervision, in accordance with the Company’s goals           the Board of Commissioners as referred to in number 6 is
     and objectives as stipulated in the provisions of laws and             part of the supervisory duties of the Board of Commissioners
     regulations, the articles of association and GMS decisions.            so that it does not negate the responsibility of the Board
2. The Board of Commissioners must carry out its duties, authority,         of Directors for the implementation of the Company’s
     and responsibilities in good manner, taking into account the           management.
     interests of Shareholders, and with the principle of prudence.     8. The Board of Commissioners is responsible to report to the
3. In performing the supervisory duties, the Board of Commissioners         Financial Services Authority (OJK) no later than 5 (five)
     must direct, monitor, and evaluate the implementation of               working days from the discovery of:
     integrated governance, risk management and compliance, as              a. violation of statutory provisions in the fields of finance,
     well as the Company’s strategic policies, in accordance with the            banking, and those related to the Company’s business
     provisions of laws and regulations, the articles of association,            activities; and/or
     and/or GMS decisions.                                                  b. circumstances or predicted circumstances that could
4. The Board of Commissioners is responsible to supervise the                    endanger the continuity of the Company’s business.
     Directors’ follow-up on audit findings or examinations and         9. The Board of Commissioners follows developments in the
     recommendations from the Company’s internal audit work                 Company’s activities and provides opinions, suggestions
     unit, external auditors, results of supervision by the Financial       and/or explanations to the GMS, including but not limited
     Services Authority (OJK), and/or results of supervision by other       to controlling shareholders, regarding any issues deemed
     authorities and institutions.                                          important to the management of the Company.
5. The Board of Commissioners is responsible to carry out other         10. Each member of the Board of Commissioners is jointly and
     obligations in the supervisory duties and providing advice, as         severally liable for the Company’s losses which are caused
     long as they do not conflict with the provisions of laws and           by errors or negligence from a fellow member of the Board of
     regulations, the articles of association, and GMS decisions.           Commissioners in carrying out their duties unless he/ she is able
6. In performing the supervisory duties, the Board of Commissioners         to provide evidence as stated in the Articles of Association.
     is prohibited from participating in decision making on the
     Company’s operational activities, except:




                                                                            PT Bank Tabungan Negara (Persero) Tbk                    465
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Duties and Responsibilities of The President Commissioner                 9. The Board of Commissioners has the authority to take action
                                                                              to manage the Company in certain circumstances for a
Apart from the duties as a member of the Board of Commissioners,              certain period of time in accordance with the provisions of
the President Commissioner who is the coordinator of the Board of             the Company’s Articles of Association.
Commissioners also has the following duties and responsibilities:         10. The Board of Commissioners has the authority to attend
1. to lead meetings as regulated in the articles of association;              Board of Directors meetings and provide opinions regarding
2. to facilitate constructive discussions;                                    the matters discussed.
3. to create a culture of work ethics including maintaining effective     11. The Board of Commissioners has the right to be entitled
     and healthy relationships with the Board of Directors; and               to an honorarium, allowances and/or facilities including
4. Provide suggestions to members of the Board of                             tantiem and similar post-employment benefits and the amount
     Commissioners regarding the implementation of the duties                 is determined by the GMS with due observance of the
     and obligations of the Board of Commissioners.                           applicable laws and regulations.
                                                                          12. Carry out other supervisory authority as long as it does
Authorities of the Board of Commissioners                                     not conflict with the provisions of laws and regulations, the
                                                                              articles of association, and/or GMS decisions.
The authority of the Board of Commissioners as regulated in the Board
of Commissioners’ Work Guidelines and Regulations is as follows:          Decisions Requiring Approval of the Board
1. The Board of Commissioners accepts and implements                      of Commissioners
    the authority delegated and/or granted to the Board of
    Commissioners in accordance with the provisions of statutory          With due observance of the Articles of Association, laws and
    regulations, articles of association, and/or GMS decisions.           regulations, and provisions in the field of Capital Markets, the
2. The Board of Commissioners has the authority to give                   actions of the Board of Directors that require written approval
    approval to strategic plans, activities, reports and/or other         from the Board of Commissioners:
    documents prepared by the Board of Directors and require              1. Release/transfer and/or pledge the Company’s assets with
    approval from the Board of Commissioners by considering the               criteria and values exceeding a certain amount determined
    provisions in the articles of association, statutory regulations,         by the Board of Commissioners, except for assets recorded
    and the determination of Series A Dwiwarna Shareholders.                  as inventory, taking into account the provisions in the capital
3. The Board of Commissioners has the right to examine the                    market and banking sector.
    Company’s documents, inspect the Company’s assets, check              2. Cooperate with other business entities or parties in the form
    the condition of cash and securities, enter the grounds and               of joint operations cooperation (KSO), business cooperation
    buildings controlled and/or used by the Company, and find                 (KSU), licensing cooperation, Build, Operate and Transfer
    out about all policies and actions that have been, are being,             (BOT), Build, Transfer and Operate (BTO), Build, Operate
    and will be implemented by the Board of Directors.                        and Own (BOO), and other agreements of the same nature
4. To request information and/or explanations from the Directors              of which the term period or total value exceeding the limit
    and/or Executive Officers regarding all issues relating to the            determined by the Board of Commissioners.
    management of the Company, including asking the Directors             3. Establish and change the Company’s logo.
    and/or Executive Officers with the knowledge of the Directors         4. Establish an organizational structure 1 (one) level below the
    to attend Board of Commissioners Meetings.                                Board of Directors.
5. The Board of Commissioners has the authority to propose to             5. Make equity participation with a certain value determined
    the GMS about the appointment of a Public Accounting Firm                 by the Board of Commissioners in other companies,
    and/or Public Accountant who will provide audit services for              subsidiaries, and joint ventures that are not in the context of
    annual historical financial information by taking into account            saving receivables by taking into account the provisions in
    recommendations from the Audit Committee.                                 the Capital Market sector.
6. The Board of Commissioners has the authority to nominate               6. Establish a subsidiary and/or joint venture company with
    new candidates for members of the Board of Directors to the               a certain value determined by the Board of Commissioners
    Shareholders based on recommendations from the Remuneration               with due observance of provisions in the Capital Market
    and Nomination Committee to be decided at the GMS.                        sector.
7. The Board of Commissioners has the authority to temporarily            7. Propose representatives of the Company to become
    dismiss members of the Board of Directors in accordance                   candidates for members of the Board of Directors and Board
    with the provisions of the Articles of Association.                       of Commissioners in joint ventures and/or subsidiaries that
8. The Board of Commissioners has the authority to use experts                make a significant contribution to the Company and/or have
    for certain matters and within a certain period of time at                a strategic value determined by the Board of Commissioners.
    the Company’s expense if deemed necessary and taking into             8. Release equity participation with a certain value determined
    account applicable provisions.                                            by the Board of Commissioners in other companies,
                                                                              subsidiaries, and joint ventures that are not in the framework
                                                                              of saving receivables with due observance of the provisions
                                                                              in the Capital Market sector.



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9. Approve matters related to mergers, consolidations,                   2. Members of the Board of Commissioners must meet the fit
    acquisitions, separations, and dissolutions of subsidiaries              and proper test requirements in accordance with the Financial
    and joint ventures with a certain value set by the Board                 Services Authority (OJK) Regulations concerning fit and proper
    of Commissioners in compliance with regulations in the                   test for financial services institutions.
    Capital Market.                                                      3. Members of the Board of Commissioners who have met the
10. Perform actions that are included in material transactions               approval requirements of the Financial Services Authority (OJK)
    as stipulated by laws and regulations in the capital market              while serving are required to have:
    sector with a certain value determined by the Board of                   a. Integrity;
    Commissioners, unless these actions are included in material             b. Competence; and
    transactions that are excluded by the applicable laws and                c. Good reputation.
    regulations in the capital market sector.                            4. At least 1 (one) member of the Board of Commissioners must be
11. Actions that have not been determined in the corporate Work              domiciled in Indonesia.
    Plan and Budget (RKAP).                                              5. Candidates for Independent Commissioners must have:
12. Carry out acts of transfer, including selling and relinquishing          a. knowledge in the banking sector that is adequate and
    the rights to collect and/or not to collect on:                                relevant to the position as Independent Commissioner;
    a. Non-performing loans that are written off in the context                    and
         of credit settlement, either in parts or whole.                     b. Experience in banking and/or finance.
    b. The difference between the value of the principal bad             6. Former members of the Board of Directors or Executive Officers
         debts that have been written off and the transfer value             or parties who have a relationship with the Company who may
         including sales or the value of the disposal of rights,             influence the person’s ability to act independently must undergo
         the implementation of which is based on the Board of                a waiting period of at least 1 (one) year before becoming an
         Directors’ policy that has been approved by the Board of            Independent Commissioner.
         Commissioners and in the amount of the limit (limit) set by     7. Waiting period for:
         the GMS which will remain valid until the establishment             a. Former President Director of the Company; and
         of a new ceiling (limit) by the GMS.                                b. Former member of the Board of Directors who supervises
                                                                                   the supervisory function or Executive Officer who
Term of Office of the Board of Commissioners                                       carries out the supervisory function at the Company, at
                                                                                   least 6 (six) months before becoming an Independent
Members of the Board of Commissioners are appointed for a                          Commissioner at the Company.
term commencing from the appointment date determined by                  8. Independent Commissioners do not have financial relationships,
GMS and ending at the closing of the 5th (fifth) Annual GMS                  management relationships, ownership relationships, affiliate
after the date of appointment, provided that the tenures do                  relationships, and/or family relationships with other members
not exceed 5 (five) years, with due observance of applicable                 of the Board of Commissioners, members of the Board of
regulations and legislation in the Capital Market, and without               Directors, and/or controlling shareholders or relationships with
neglecting the rights of GMS to dismiss any member of the Board              the Company that could affect their ability to act independently.
of Commissioners at any time before their Term of Office is over.        9. Independent Commissioners do not have any direct or indirect
                                                                             business relationships related to the Company’s business
After their term of office ends, members of the Board of Commissioners       activities.
may be reappointed by GMS for one term of office.                        10. Independent Commissioners do not have any direct or indirect
                                                                             business relationships related to the Company’s business
Requirements for Members of the Board                                        activities.
of Commissioners                                                         11. Commissioners can be Independent Commissioners in the
                                                                             Company or the Company’s business group by meeting the
The requirements for members of the Board of Commissioners                   requirements as an Independent Commissioner.
stipulated in the Board of Commissioners’ Work Guidelines and            12. Commissioners who will become Independent Commissioners
Code of Conduct are as follows:                                              in the Company are required to undergo a waiting period of at
1. Members of the Board of Commissioners are individuals who                 least 1 (one) year.
     meet the requirements at the time of appointment and during         13. The transition from Commissioner to Independent Commissioner
     his/her term of office in accordance with the Company’s articles        must obtain approval from the Financial Services Authority
     of association and statutory regulations.                               (OJK) through a fit and proper test in accordance with the
                                                                             Financial OJK Regulations regarding fit and proper test for
                                                                             financial services institutions.




                                                                             PT Bank Tabungan Negara (Persero) Tbk                     467
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                                                               Corporate
                                                               Governance




Work Guidelines and Manual of the Board of Commissioners

The Board of Commissioners already possesses work guidelines and rules regulated in Board of Commissioners Decree number 05/
KOM/BTN/2023 dated December 13, 2023, concerning Work Guidelines and Rules for the Board of Commissioners of PT Bank
Tabungan Negara (Persero) Tbk. The Board of Commissioners’ Work Guidelines and Regulations are prepared based on corporate
legal principles, provisions of the Articles of Association, statutory regulations and provisions, Shareholder directives, as well as Good
Corporate Governance best practices.


The BOC’s Board Manual shall ensure the Board of Commissioners performs its duties effectively and efficiently, and it shall also be
used as a performance assessment tool for the Board of Commissioners. The Board Manual has stipulated various aspects, as follows:


        Chapter I         General requirements                              Article 1    Terms and Definitions

                                                                            Article 2    Structure and Composition

                                                                            Article 3    Membership Criteria

                                                                            Article 4    Appointment
        Chapter II        Membership
                                                                            Article 5    Term of Office

                                                                            Article 6    Concurrent Position

                                                                            Article 7    Removal

                                                                            Article 8    Duties and Responsibilities
       Chapter III        Duties, Responsibilities and Authority
                                                                            Article 9    Authority

                                                                            Article 10   Meeting Type

                                                                            Article 11   Calling and Organizing Meetings

                                                                            Article 12   Meeting Materials
       Chapter IV         Meeting
                                                                            Article 13   Chairman of the Meeting

                                                                            Article 14   Decision Summons

                                                                            Article 15   Meeting Documentation

                                                                            Article 16   Work Ethics

                                                                            Article 17   Prohibition

                                                                            Article 18   Work Planning

                                                                            Article 19   Work Division
        Chapter V         Working Mechanism
                                                                            Article 20   Working time

                                                                            Article 21   Job Assessment and Evaluation

                                                                            Article 22   Reporting and Accountability

                                                                                         Pattern of Working Relations of the Board of
                                                                            Article 23
                                                                                         Commissioners and Directors

                                                                            Article 24   Secretary to the Board of Commissioners
       Chapter VI         Supporting Organs
                                                                            Article 25   Committees Under the Board of Commissioners

                                                                            Article 26   Competency Development

       Chapter VII        Sustainable Competency Development                Article 27   Training

                                                                            Article 28   Certification

      Chapter VIII        Others                                            Article 29   Relationships with Stakeholders




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Supervisory Duties of the Board of Commissioners

The distribution of the supervisory duties for the Board of Commissioners is listed as follows.

Table of Distribution of Duties of the Board of Commissioners
             Name                              Position                                                   Field of Duty
                                    President Commissioner/
 Chandra M. Hamzah                                                      Remuneration and Nomination
                                    Independent

                                    Vice President Commissioner
 Iqbal Latanro                                                          Audit (Internal & External), Remuneration, and Nomination
                                    / Independent

 Armand B. Arief                    Independent Commissioner            Risk Management and Compliance, Remuneration, and Nomination

 Ahdi Jumhari Luddin*               Independent Commissioner            Audit (Internal & External), Remuneration, and Nomination

 Sentot A. Sentausa                 Independent Commissioner            Audit (Internal & External), Remuneration, and Nomination

 Andin Hadiyanto                    Commissioner                        Audit (Internal & External), Remuneration, and Nomination

 Herry Trisaputra Zuna              Commissioner                        Risk Management and Compliance, Remuneration, and Nomination

 Himawan Arief Sugoto               Commissioner                        Risk Management and Compliance, Remuneration, and Nomination

 Mohamad Yusuf Permana**            Commissioner                        Remuneration and Nomination

* Resigns office on August 12, 2023.
** Appointed based on the EGMS on January 11, 2023, and was effective from June 7, 2023.



Policy on Concurrent Positions of the Board of Commissioners

Members of the Board of Commissioners are prohibited from holding multiple and concurrent positions as:
1. Members of the Board of Directors of State-Owned Enterprises (BUMN), Regional Owned Enterprises (BUMD), and/or Private-
   Owned Enterprises.
2. Political party administrators and/or legislative candidates/members and/or regional heads/deputy regional heads.
3. Other positions in accordance with the provisions of the legislation.
4. Other positions that may cause a conflict of interest.

Table of Concurrent Positions of the Board of Commissioners
           Name                         Position                 Position at Other Companies/ Institutions        Name of Company/ Other Institution
                               President Commissioner/
 Chandra M. Hamzah                                           Partner                                          Assegaf Hamzah and Partners Law firm
                               Independent
                               Vice President
 Iqbal Latanro                 Commissioner /                -                                                -
                               Independent
                               Independent
 Armand B. Arief                                             Independent Commissioner                         PT Cardig Aero Services Tbk
                               Commissioner
                               Independent
 Ahdi Jumhari Luddin*                                        -                                                -
                               Commissioner
                               Independent
 Sentot A. Sentausa                                          -                                                -
                               Commissioner
                                                             Head of the Financial Education and Training
                                                                                                              Ministry of Finance
                                                             Agency (BPPK)
 Andin Hadiyanto               Commissioner
                                                             Acting President Director of the Education
                                                                                                              Ministry of Finance
                                                             Fund Management Institution (LPDP)
                                                             Main Advisor to the Minister of Agrarian
                                                                                                              Ministry of Agrarian Affairs and Spatial
 Himawan Arief Sugoto          Commissioner                  Affairs and Spatial Planning/Head of the
                                                                                                              Planning/ National Land Agency
                                                             National Land Agency for Land Economics
                                                             Director General of Public Works and             Ministry of Public Works and Public Housing
 Herry Trisaputra Zuna         Commissioner
                                                             Housing Infrastructure Financing                 (PUPR)

 Mohamad Yusuf
                               Commissioner                  Head of Protocol Bureau                          Ministry of State Secretariat
 Permana**

* Termination of office due to death on August 12 2023.
** Appointed based on the EGMS on January 11, 2023, and was effective from June 7, 2023.




                                                                                           PT Bank Tabungan Negara (Persero) Tbk                         469
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                                                                   Governance




Management of Conflict of Interest of The Board of                                6. Do not request, receive, permit, and/or agree to receive
Commissioners                                                                        compensation, commission, additional money, services, money,
                                                                                     valuables, and/or anything that has economic value or other
The Board of Commissioners is prohibited from being involved in                      benefits, for personal, family, and other parties’ benefit, in
making decisions related to banking operational activities, except                   carrying out the Company’s business activities and other
for the provision of funds to related parties and other matters                      activities related to the Company;
regulated in the Company’s Articles of Association or applicable
laws and regulations. The said involvement or approval of the                     Independent Commissioner
Board of Commissioners does not negate the responsibility of
the Board of Directors in implementing the management of the                      The composition of the Company’s Board of Commissioners as
Company. The Board of Commissioners is also prohibited from                       of December 31, 2023 totaled 8 (eight) members with 4 (four)
being involved in making decisions that may cause a conflict of                   of them as Independent Commissioners, which means 50% (fifty
interest and/or against the laws and regulations and the Code                     percent) of the total existing members of exiting Commissioners.
of Conduct. Therefore, the Board of Commissioners must avoid                      The composition of the members of the Board of Commissioners
conflicts of interest by always doing the following:                              has complied with the provisions of the OJK Regulation number
1. Prioritize the Company’s interests and not diminish the                        17 of 2023 concerning the Implementation of Governance
     Company’s financial interest in the event of a conflict of interest;         for Commercial Banks which stipulates that Independent
2. Disclose his and/or his family’s share ownership of 5% (five                   Commissioners must be at least 50% (fifty percent) of the total
     percent) or more in the Company or in other domestic and                     members of the Board of Commissioners.
     abroad companies;
3. Disclose family relationships, financial relationships,                        Criteria for Independent Commissioners
     management relations, ownership relations with other members
     of the Board of Commissioners, members of the Board of                       The criteria for Independent Commissioners’ appointment refer
     Directors, controlling shareholders of the Company, and/or                   to the OJK Regulation No. 33/POJK.04/2014 dated December
     other parties within the Company’s business;                                 8, 2014, regarding the Board of Directors and Board of
4. Disclose the existence of concurrent positions;                                Commissioners of Issuers or Public Companies. The criteria for
5. Making disclosures in terms of decision making must be taken in                Independent Commissioners are as follows:
     conditions of a conflict of interest and the member of the Board
     of Commissioners concerned must not involve themselves in the
     Company’s decision-making process relating to this matter;




                                                                                                      Independent Commissioner
                   Criteria for Independent Commissioners
                                                                                        Chandra M.       Iqbal        Armand B.       Sentot A.
                                                                                         Hamzah         Latanro         Arief         Sentausa

 Not a person who works or has the authority and responsibility to plan, lead,
 control, or supervise the activities of the Issuer or Public Company within the last
                                                                                            √              √               √              √
 6 (six) months, except for reappointment as an Independent Commissioner of the
 Issuer or Public Company in the next period.

 Not having shares directly or indirectly with the Issuer or Public Company.                √              √               √              √

 Does not have an affiliate relationship with the Issuer or Public Company, members
 of the Board of Commissioners, members of the Board of Directors, or the majority          √              √               √              √
 shareholders of the Issuer or Public Company
 Does not have a business relationship, either directly or indirectly, related to the
                                                                                            √              √               √              √
 business activity of the Issuer or Public Company.




470           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                2023 Annual Report




Statement of Independent Commissioners                                   2. In the event that on a later date, the Board of Commissioners
                                                                            has been found to have a relationship as referred to in
The Company’s Independent Commissioners have prepared and                   number 1, the member of the Board of Commissioners is
signed an Independent Statement and submitted it to the FSA,                willing to surrender the position and is willing to be replaced.
with respectively the following statements:
1. Has no financial, management, ownership, and/ or family               In addition to the independence statement, members of the Board
    relationship with the Bank, that may affect the ability to           of Commissioners shall also report any changes to the status that
    act independently as stipulated in the Financial Services            may affect its independence as well as ensure that this practice
    Authority Regulation that regulates the Implementation of            has been implemented in accordance with the GCG principles.
    Governance for Commercial Banks;


In detail, the independence statement letter is referred to as stated below.




                                                                               PT Bank Tabungan Negara (Persero) Tbk                  471
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                                                           Governance




Meeting of the Board of Commissioners                                   4. Summons for a meeting must be conducted by the President
                                                                            Commissioners, and in the event the President Commissioners
Meeting Policy                                                              is absent, which does not need to be proven to any party,
                                                                            the summons for a meeting is made by the Vice President
MEETING CATEGORIES                                                          Commissioner.
1. The Board of Commissioners shall hold regular meeting at             5. In the event the Vice President Commissioner is absent due to
   least 1 (once) a month, hereinafter referred to as the Board             any reason, which does not need to be proven to any party,
   of Commissioner’s Meeting.                                               the summons for a meeting is made by a member of the
2. The Board of Commissioners must hold regular meetings with               Board of Commissioners.
   the Board of Directors at least 1 (one) time in 4 (four) months,     6. Invitation for the Board of Commissioners’ Meeting is made
   hereinafter referred to as the Board of Commissioners and                in writing or directly delivered to each member of the Board
   Directors’ Joint Meeting.                                                of Commissioner with a sufficient receipt, or by registered
3. The Board of Commissioners may hold a meeting at any time                mail, or courier service or by telex, facsimile, or email no
   at the request of 1 (one) or several members of the Board                later than 5 (five) days before the meeting is held, excluding
   of Commissioners or the Board of Directors, by specifying                the date of summons and the date of the meeting, or sooner
   matters to be discussed.                                                 considering the urgency.
                                                                        7. The invitation is not required for meetings that have been
MEETING SUMMONS AND COMMENCEMENT                                            scheduled upon the decisions of the Board of Commissioner’s
1. The Board of Commissioners’ Meeting and the Board of                     meetings held previously.
   Commissioners and Directors’ Join Meeting must be commenced          8. Invitation to the meeting must include the agenda, date, time
   if attended by majority members of the Board of Commissioners.           and venue of the meeting.
2. The commencement of the Board of Commissioner’s                      9. The meeting is commenced in the Company’s domicile or
   meeting must be attended by all members of the Board of                  other places in the territory of the Republic of Indonesia or
   Commissioners physically at least 2 (twice) in 1 (one) year.             the Company’s business activities.
3. The Board of Commissioners who are unable to attend the              10. The meeting is valid and shall have right to take a binding
   meeting physically may attend the Board of Commissioners’                resolution if attended and/or represented by more than ½
   meeting directly using information technology.                           (one half) of the total members of the Board of Commissioners.



472         PT Bank Tabungan Negara (Persero) Tbk
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11. Each member of the Board of Commissioners must attend at          4. In the event that a decision based on deliberation to reach
    least 75% (seventy-five percent) of the total of the Board of         consensus is not reached, then the decision must be taken by
    Commissioners’ meetings commenced in 1 (one) Fiscal Year.             voting based on affirmative votes of more than ½ (one-half)
12. Each member of the Board of Commissioner must attend at               of the number of valid votes cast at the relevant meeting.
    least 75% (seventy-five percent) of the total of the Board of     5. Each member of the Board of Commissioners has the right
    Commissioners and Directors’ Joint Meeting commenced                  to cast 1 (one) vote and an additional 1 (one) vote for each
    in 1 (one) Fiscal Year.                                               other member of the Board of Commissioners, whom he or
                                                                          she legally represents at the meeting.
MEETING MATERIALS                                                     6. In the event that there is more than 1 (one) proposal, a re-
1. Meeting materials can be distributed to all meeting participants       election will be carried out so that 1 (one) proposal receives
   at least 5 (five) working days before the meeting is held.             more than ½ (one-half) of the total votes cast.
2. In the event the meeting is held outside schedule due to urgent    7. A blank vote is deemed to approve the proposal submitted at
   and important issue, meeting materials can be delivered                the meeting.
   before the meeting is commenced.                                   8. Invalid votes are considered non-existent and are not counted
                                                                          in determining the number of votes cast at the meeting.
CHAIRMAN OF MEETING                                                   9. Voting regarding individuals is carried out using closed
1. The meeting is chaired by the President Commissioner.                  ballot papers without signatures, while voting regarding
2. In the event that the President Commissioner is absent or              other matters is carried out verbally, unless the chairman
   unable to attend, the Vice President Commissioner shall chair          of the meeting determines otherwise without any objection
   the Board of Commissioners Meeting; a member of the Board              based on the majority of votes from those present.
   of Commissioners appointed by PT Bank Tabungan Negara              10. If there are urgent and very important matters for the
   (Persero) Tbk 2022 Annual Report 434 Good Corporate                    Company, the Board of Commissioners can also make valid
   Governance the President Commissioner shall chair the Board of         decisions without holding a Board of Commissioners Meeting
   Commissioners Meeting if, at the same time, the Vice President         provided that all members of the Board of Commissioners
   Commissioner is absent or unable to attend, or a member of             have been notified in writing and all members of the Board
   the Board of Commissioners appointed by the deputy head                of Commissioners have given their approval regarding the
   Commissioner who presides over the Board of Commissioners              proposal submitted in writing and signing the agreement.
   Meeting if, at the same time, the Head Commissioner is absent      11. Decisions taken in this way have the same legal standing
   or unavailable and does not make the appointment.                      as decisions legally taken at a Board of Commissioners’
3. In the event the Vice President Commissioner is absent due to          Meeting.
   any reason, which does not need to be proven to any party, the     12. All decisions of the Board of Commissioners are binding on
   summons for a meeting is made by a member of the Board of              all members of the Board of Commissioners.
   Commissioners, being present and nominated in the meeting.         13. Each member of the Board of Commissioners who personally
4. In the event the President Commissioner does not make                  in any way, either directly or indirectly, has an interest in
   appointment, senior member of the Board of Commissioners               a transaction, contract or proposed contract in which the
   serving as member of the Board of Commissioners acts as the            Company is a party, must declare the nature of his/her
   chairman of the meeting.                                               interest at the Board of Commissioners’ Meeting and has
5. In the event senior member of the Board of Commissioners               no right to participate in decision making regarding matters
   serving as member of the Board of Commissioners is more                relating to the transaction or contract.
   than one, the oldest member of the Board of Commissioner
   acts as the chairman of the meeting.                               MEETING DOCUMENTATION
6. If GMS does not appoint a Vice President Commissioner, in          1. Documentation of the meeting must be included in the
   the event the President Commissioner is absent or unable to           Minutes of Meeting.
   attend, the Board of Commissioner’s Meeting is chaired by          2. The Board of Commissioners must prepare minutes of
   another member of the Board of Commissioner appointed by              meetings as referred to in and document them in accordance
   the President Commissioner.                                           with the provisions of regulations.
                                                                      3. Minutes of the Board of Commissioners’ Meeting must be
DECISION MAKING                                                          prepared by someone present at the meeting appointed by
1. The Board of Commissioners is an assembly and each member             the chairman of the meeting and then signed by all members
   of the Board of Commissioners cannot act independently, but           of the Board of Commissioners present and submitted to all
   rather based on the decision of the Board of Commissioners.           members of the Board of Commissioners.
2. All decisions of the Board of Commissioners are taken at           4. Minutes of meetings of the Board of Commissioners and
   meetings.                                                             Directors’ Joint Meeting must be drawn up by someone,
3. Decision making at the Board of Commissioners’ Meeting must           being present at the meeting and appointed by the chairman
   firstly be made based on deliberation to reach consensus.             of the meeting, signed by all members of the Board of




                                                                          PT Bank Tabungan Negara (Persero) Tbk                  473
Page 105
                                                                         Corporate
                                                                         Governance




       Commissioners and the Board of Directors who are present,                       The Board of Commissioners also holds joint meetings with the
       and submitted to all members of the Board of Commissioners                      Board of Commissioners’ Supporting Organ Committees which
       and the Board of Directors.                                                     in the outline will discuss the following agenda:
5.     Dissenting opinion that may arise at the meeting must be                        • Current Issues.
       stated clearly in the minutes of the meeting along with the                     • Review/study of reports/incoming letters and progress
       reasons for the dissenting opinion.                                                  of follow-up advice/directions to the previous Board of
6.     In the event that there are members of the Board of                                  Directors.
       Commissioners and/or members of the Board of Directors                          • Exposure of the Board of Commissioners’ Supporting
       who do not sign the results of the meeting, the related person                       Organs Committee in the form of suggestions, opinions/
       must state the reasons in writing in a separate letter attached                      recommendations to the Board of Commissioners regarding
       to the minutes of the meeting.                                                       the review/studies that have been carried out to further
7.     Minutes of meetings must be documented by the Company.                               serve as input for the Board of Commissioners in providing
8.     Minutes of meetings are valid evidence for members of the                            direction and advice to the Board of Directors as a form of
       Board of Commissioners and for third parties regarding the                           active oversight by the Board of Commissioners.
       decisions taken at the said meeting.                                            • Exposure of the Audit Committee to the Findings of the Bank’s
                                                                                            Internal and/or External Audit Results and performance
Internal Meeting of the Board of Commissioners                                              reviews of financial performance.


BOARD OF COMMISSIONERS INTERNAL MEETING PLAN                                           REALIZATION OF INTERNAL MEETING OF THE BOARD OF
Based on the 2023 Board of Commissioners Work Program,                                 COMMISSIONERS
the Board of Commissioners’ meeting plans had been held                                Throughout 2023, the Board of Commissioners has held 52 (fifty-
36 (thirty-six) times in 1 (one) year or 3 (three) times in 1                          nine) internal meetings. In detail, it is presented in the table as
(one) month from the minimum commencement requirements                                 follows:
in the OJK Regulations as of 1 (one) ) times in 2 (two) months.
The Board of Commissioners’ meetings are generally held on
Wednesdays or as required.



Table of Board of Commissioners Internal Meetings
                                                                                   Attendance of the Board of Commissioners
         Meeting
 No.                 Meeting agenda                                        Ahdi                                                   Herry                        Mohamad
          Date                            Chandra M.                               Armand B.      Sentot A.       Andin                      Himawan
                                                       Iqbal Latanro     Jumhari                                               Trisaputra                        Yusuf
                                           Hamzah                                    Arief        Sentausa      Hadiyanto                   Arief Sugoto
                                                                          Luddin                                                  Zuna                         Permana**

                    Periodic Meeting
                    Agenda:
                    − Evaluation of
         January       Meeting Results
 1.                                       Present      Present         Present     Present       Present       Present        Present       Present        -
         04, 2023   − Incoming Letter
                    − Latest
                       Information
                    − Other Information

                    Periodic Meeting
                    Agenda:
                    − Evaluation of
         January       Meeting Results
 2.                                       Present      Present         Present     Present       Present       Present        Present       Present        -
         11, 2023   − Incoming Letter
                    − Latest
                       Information
                    − Other Information

                    Periodic Meeting
                    Agenda:
                    − Evaluation of
         January       Meeting Results                                                                                                                     Present as
 3.                                       Present      Present         Present     Present       Present       Present        Present       Present
         18, 2023   − Incoming Letter                                                                                                                      an observer
                    − Latest
                       Information
                    − Other Information

                    Periodic Meeting
                    Agenda:
                    − Evaluation of
         January       Meeting Results                                                                                                                     Present as
 4.                                       Present      Present         Present     Present       Present       Present        Present       Present
         25, 2023   − Incoming Letter                                                                                                                      an observer
                    − Latest
                       Information
                    − Other Information




474            PT Bank Tabungan Negara (Persero) Tbk
Page 106
                                                                                                                2023 Annual Report




                                                                                Attendance of the Board of Commissioners
       Meeting
No.                Meeting agenda                                       Ahdi                                                   Herry                     Mohamad
        Date                           Chandra M.                                Armand B.     Sentot A.       Andin                      Himawan
                                                    Iqbal Latanro     Jumhari                                               Trisaputra                     Yusuf
                                        Hamzah                                     Arief       Sentausa      Hadiyanto                   Arief Sugoto
                                                                       Luddin                                                  Zuna                      Permana**

                  − Discussion of
                                                                                                                                                        Permission
                    Due Diligence
      January                                                                                                                                           to be ab-
5.                  (Due Diligence)    Present      Present         Present     Present       Present       Present        Present       Present
      30, 2023                                                                                                                                          sent as an
                    of the BTN
                                                                                                                                                        observer
                    Pension Fund

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      February       Meeting Results                                                                                                                    Present as
6.                                    Present       Present         Present     Present      Present        Present        Present       Present
      01, 2023    − Incoming Letter                                                                                                                     an observer
                  − Latest
                     Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      February       Meeting Results                                                                                                                    Present as
7.                                    Present       Present         Present     Present      Present        Present        Present       Present
      08, 2023    − Incoming Letter                                                                                                                     an observer
                  − Latest
                     Information
                  − Other Information

                  Closing Meeting
                  of 2022 Financial
                  Report with Public
                  Accounting Firm
      February                                                                                                                                          Present as
8.                Purwantono,          Permission   Present         Present     Present      Present        Present        Present       Present
      10, 2023                                                                                                                                          an observer
                  Sungkoro & Surja
                  (a member firm
                  of Ernst & Young
                  Global Limited)

                  Follow-up to the
                  2022 Financial
                  Report Closing
                  Meeting with
      February    Public Accounting                                                                                                                     Present as
9.                                     Permission   Present         Present     Present      Present        Present        Present       Present
      13, 2023    Firm Purwantono,                                                                                                                      an observer
                  Sungkoro & Surja
                  (a member firm
                  of Ernst & Young
                  Global Limited)

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
                     Meeting Results
      February                                                                                                                                          Present as
10.               − Incoming Letter    Present      Present         Present     Present      Present        Present        Present       Present
      15, 2023                                                                                                                                          an observer
                  − Latest
                     Information
                  − Other
                     Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      February       Meeting Results                                                                                                                    Present as
11.                                   Present       Present         Present     Present      Present        Present        Present       Present
      22, 2023    − Incoming Letter                                                                                                                     an observer
                  − Latest
                     Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      March 01,      Meeting Results                                                                                                                    Present as
12.                                   Present       Present         Present     Present      Present        Present        Present       Present
      2023        − Incoming Letter                                                                                                                     an observer
                  − Latest
                     Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      March 08,      Meeting Results                                                                                                                    Present as
13.                                   Present       Present         Sick        Present      Present        Present        Present       Present
      2023        − Incoming Letter                                                                                                                     an observer
                  − Latest
                     Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      March 15,      Meeting Results                                                                                                                    Present as
14.                                   Present       Present         Sick        Present      Present        Present        Present       Present
      2023        − Incoming Letter                                                                                                                     an observer
                  − Latest
                     Information
                  − Other Information




                                                                                          PT Bank Tabungan Negara (Persero) Tbk                              475
Page 107
                                                                        Corporate
                                                                        Governance




                                                                                 Attendance of the Board of Commissioners
       Meeting
No.                 Meeting agenda                                       Ahdi                                                   Herry                     Mohamad
        Date                            Chandra M.                                Armand B.     Sentot A.       Andin                      Himawan
                                                     Iqbal Latanro     Jumhari                                               Trisaputra                     Yusuf
                                         Hamzah                                     Arief       Sentausa      Hadiyanto                   Arief Sugoto
                                                                        Luddin                                                  Zuna                      Permana**

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      March 21,                                                                                                                                          Present as
15.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present
      2023                                                                                                                                               an observer
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      March 29,                                                                                                                                          Present as
16.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present
      2023                                                                                                                                               an observer
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      April 05,       Meeting Results                                                                                                                    Present as
17.                                    Present       Present         Sick        Present      Present        Present        Present       Present
      2023         − Incoming Letter                                                                                                                     an observer
                   − Latest
                      Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      April 12,                                                                                                                                          Present as
18.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present
      2023                                                                                                                                               an observer
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      May 03,                                                                                                                                            Present as
19.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present
      2023                                                                                                                                               an observer
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      May 10,                                                                                                                                            Present as
20.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present
      2023                                                                                                                                               an observer
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      May 17,                                                                                                                                            Present as
21.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present
      2023                                                                                                                                               an observer
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      May 24,                                                                                                                                            Present as
22.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present
      2023                                                                                                                                               an observer
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      May 31,                                                                                                                                            Present as
23.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present
      2023                                                                                                                                               an observer
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      June 07,
24.                  Meeting Results    Present      Present         Sick        Present      Present        Present        Present       Present        Present
      2023
                   − Incoming Letter
                   − Latest Information
                   − Other Information

                   Periodic Meeting
                   Agenda:
                   − Evaluation of
      June 14,
25.                  Meeting Results    Present      Present         Present     Present      Present        Present        Present       Present        Present
      2023
                   − Incoming Letter
                   − Latest Information
                   − Other Information




476              PT Bank Tabungan Negara (Persero) Tbk
Page 108
                                                                                                                 2023 Annual Report




                                                                                 Attendance of the Board of Commissioners
       Meeting
No.               Meeting agenda                                         Ahdi                                                   Herry                     Mohamad
        Date                          Chandra M.                                  Armand B.     Sentot A.       Andin                      Himawan
                                                   Iqbal Latanro       Jumhari                                               Trisaputra                     Yusuf
                                       Hamzah                                       Arief       Sentausa      Hadiyanto                   Arief Sugoto
                                                                        Luddin                                                  Zuna                      Permana**

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      June 21,
26.                Meeting Results    Present      Present         Sick          Present      Present        Present        Present       Present        Present
      2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      June 27,
27.                Meeting Results    Present      Present         Sick          Present      Present        Present        Present       Present        Present
      2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      July 05,
28.                Meeting Results    Present      Present         Present       Present      Present        Present        Present       Present        Present
      2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      July 12,
29.                Meeting Results    Present      Present         Present       Present      Present        Present        Present       Present        Present
      2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      July 18,
30.                Meeting Results    Permission   Present         Sick          Present      Present        Present        Present       Present        Present
      2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      July 26,
31.                Meeting Results    Present      Present         Sick          Present      Present        Present        Present       Present        Present
      2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      August
32.                Meeting Results    Present      Present         Sick          Present      Hadir          Present        Present       Present        Present
      02, 2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      August
33.                Meeting Results    Permission   Present         Sick          Present      Present        Present        Present       Present        Present
      09, 2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information

                 Periodic Meeting
                 Agenda:
                 − Discussion of
                    the Progress
                    of the Plan for
      August        the Separation
34.                                   Present      Present         -             Present      Present        Present        Present       Present        Present
      16, 2023      of the Sharia
                    Business Unit
                    of PT Bank
                    Tabungan
                    Negara
                    (Persero) Tbk

                 Periodic Meeting
                 Agenda:
                 − Evaluation of
      August
35.                Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      23, 2023
                 − Incoming Letter
                 − Latest Information
                 − Other Information




                                                                                           PT Bank Tabungan Negara (Persero) Tbk                               477
Page 109
                                                                        Corporate
                                                                        Governance




                                                                                  Attendance of the Board of Commissioners
       Meeting
No.                Meeting agenda                                         Ahdi                                                   Herry                     Mohamad
        Date                           Chandra M.                                  Armand B.     Sentot A.       Andin                      Himawan
                                                    Iqbal Latanro       Jumhari                                               Trisaputra                     Yusuf
                                        Hamzah                                       Arief       Sentausa      Hadiyanto                   Arief Sugoto
                                                                         Luddin                                                  Zuna                      Permana**

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      August
36.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      30, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      September
37.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      06, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      September
38.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      13, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      September
39.                 Meeting Results    Permission   Present         -             Present      Present        Present        Present       Present        Present
      20, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      September
40.                 Meeting Results    Permission   Present         -             Present      Present        Present        Present       Present        Present
      27, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      October
41.                 Meeting Results    Permission   Present         -             Present      Present        Present        Present       Present        Present
      04, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      October
42.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      11, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      October
43.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      18, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      November
44.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      01, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      November
45.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      08, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
      November
46.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
      15, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information




478          PT Bank Tabungan Negara (Persero) Tbk
Page 110
                                                                                                                  2023 Annual Report




                                                                                  Attendance of the Board of Commissioners
        Meeting
 No.               Meeting agenda                                         Ahdi                                                   Herry                     Mohamad
         Date                          Chandra M.                                  Armand B.     Sentot A.       Andin                      Himawan
                                                    Iqbal Latanro       Jumhari                                               Trisaputra                     Yusuf
                                        Hamzah                                       Arief       Sentausa      Hadiyanto                   Arief Sugoto
                                                                         Luddin                                                  Zuna                      Permana**

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
       November
47.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
       22, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Closing Meeting
                  Limited Review
                  of Financial
                  Reports as of 30
       November   September 2023
48.                                   Present       Present         -             Present      Present        Present        Present       Present        Present
       27, 2023   by KAP PSS-EY and
                  Discussion of Draft
                  Published Financial
                  Reports as of 30
                  September 2023

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
       November
49.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
       29, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
       December
50.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
       06, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
       December
51.                 Meeting Results    Present      Present         -             Present      Present        Present        Present       Present        Present
       13, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information

                  Periodic Meeting
                  Agenda:
                  − Evaluation of
       December
52.                 Meeting Results    Permission   Present         -             Present      Present        Present        Present       Present        Present
       20, 2023
                  − Incoming Letter
                  − Latest Information
                  − Other Information




Joint Meeting of The Board of Commissioners and the Board of Directors

Joint Meeting Plan of the Board of Commissioners and the Board of Directorsi


Based on the decision made in the Board of Commissioners Meeting, it is decided that a joint meeting with the Board Of Commissioners
is held in the period of at least 1 (once) every 4 (four) months. The topics discussed include:
1. Compilation of Bank Business Plan (RBB) and Company Work Plan and Budget (RKAP).
2. Periodical Company Performance Review.
3. Implementation of AML, TPF, and PFWMD programs.
4. Implementation of Corporate Governance and Follow Up of Internal or External Audit findings.




                                                                                            PT Bank Tabungan Negara (Persero) Tbk                              479
Page 111
                                                              Corporate
                                                              Governance




In 2023, joint meeting is agreed to be scheduled on Wednesday in the third week of the month. The Joint Meeting of the Board of
Commissioners and the Board of Directors in the odd months is initiated by the Board of Commissioners, while a joint meeting held in
the even months shall be initiated by the Board of Directors. The realization of the Joint Meeting of the Board of Commissioners and the
Board of Directors and the joint meeting of the Board of Directors and the Board of Commissioners shall be held in accordance with the
Articles of Association.


Realization of Board of Commissioners and Board of Directors Meetings


In 2023, the Board of Commissioners conducted 6 (six) joint meetings with the Board of Directors initiated by the Board of Commissioners.
Detailed information regarding the joint meeting attendees is presented below.

Table of Joint Meeting of the Board of Commissioners and the Board of Directors
                                                                   Board of Commissioners                            Board of Directors
 No.     Meeting Date           Meeting Agenda
                                                               Participant           Attendance            Participant            Attendance

                           1.   Performance Review          Chandra M.                                  Haru
                                                                                  Present                                      Present
                                Bankwide and Sharia         Hamzah                                      Koesmahargyo
                                Business Units (UUS) up
                                to December 2022;                                                       Nixon L.P.
                                                            Iqbal Latanro         Present                                      Present
                           2.   Progress Initiative                                                     Napitupulu
                                Corporate Plan up to        Ahdi Jumhari Luddin   Present               Hirwandi Gafar         Absent
                                December 2022;
                           3.   Monitoring Risk             Armand B. Arief       Present               Nofry Rony Poetra      Present
                                Appetite, Risk Tolerance,
                                                            Sentot A. Sentausa    Present               Eko Waluyo             Present
                                and Recovery Plan
        January 18,
 1                              Bankwide and Sharia                                                     Elisabeth Novie
        2023                                                Andin Hadiyanto       Present                                      Present
                                Business Units (UUS) up                                                 Riswanti
                                to December 2022;
                           4.   Monitoring Progress         Herry Trisaputra
                                                                                  Present               Andi Nirwoto           Present
                                of Loans Settlement         Zuna
                                Document up to              Himawan Arief
                                December 2022;                                    Present               Jasmin                 Present
                                                            Sugoto
                           5.   Monitoring the
                                Implementation of AML       Mohamad Yusuf
                                and TPF Programs up to                            Present as observer   Setiyo Wibowo          Present
                                                            Permana
                                December 2022.
                                                            Chandra M.                                  Nixon L.P.
                                                                                  Present                                      Present as observer
                                                            Hamzah                                      Napitupulu

                                                                                                        Oni Febriarto
                                                            Iqbal Latanro         Present                                      Present as observer
                           1.   Performance Review                                                      Rahardjo
                                Bankwide and Sharia         Ahdi Jumhari Luddin   Sick                  Hirwandi Gafar         Present
                                Business Units (UUS) up
                                to February 2023;           Armand B. Arief       Present               Nofry Rony Poetra      Present
                           2.   Progress Initiative
                                                            Sentot A. Sentausa    Present               Eko Waluyo             Present
                                Corporate Plan up to
 2      March 21, 2023          February 2023;                                                          Elisabeth Novie
                                                            Andin Hadiyanto       Present                                      Present
                           3.   Monitoring Risk                                                         Riswanti
                                Appetite, Risk Tolerance,
                                and Recovery Plan           Herry Trisaputra
                                                                                  Present               Andi Nirwoto           Present
                                Bankwide and Sharia         Zuna
                                Business Units (UUS) up     Himawan Arief
                                to February 2023.                                 Present               Jasmin                 Present
                                                            Sugoto

                                                                                                        Setiyo Wibowo          Present
                                                            Mohamad Yusuf
                                                                                  Present as observer
                                                            Permana
                                                                                                        Hakim Putratama        Present as observer




480         PT Bank Tabungan Negara (Persero) Tbk
Page 112
                                                                                                   2023 Annual Report




                                                              Board of Commissioners                              Board of Directors
No.    Meeting Date        Meeting Agenda
                                                          Participant           Attendance               Participant           Attendance

                                                       Chandra M.                                    Nixon L.P.
                                                                             Present                                        Present as observer
                                                       Hamzah                                        Napitupulu
                      1.   Performance Review
                           Bankwide and Sharia                                                       Oni Febriarto
                                                       Iqbal Latanro         Present                                        Present as observer
                           Business Units (UUS) up                                                   Rahardjo
                           to April 2023;
                                                       Ahdi Jumhari Luddin   Sick                    Hirwandi Gafar         Present
                      2.   Progress Initiative
                           Corporate Plan up to        Armand B. Arief       Present                 Nofry Rony Poetra      Present
                           April 2023;
                                                       Sentot A. Sentausa    Present                 Eko Waluyo             Present
                      3.   Monitoring Risk
3     May 24, 2023         Appetite, Risk Tolerance,                                                 Elisabeth Novie
                           and Recovery Plan           Andin Hadiyanto       Present                                        Present
                                                                                                     Riswanti
                           Bankwide and Sharia
                           Business Units (UUS) up     Herry Trisaputra
                                                                             Present                 Andi Nirwoto           Present
                           to April 2023;              Zuna
                      4.   Revision of Bank            Himawan Arief
                           Business Plan (RBB)                               Present                 Jasmin                 Present
                                                       Sugoto
                           for 2023–2025 and
                           Company Work Plan &         Mohamad Yusuf                                 Setiyo Wibowo          Present
                                                                             Present as observer
                                                       Permana
                                                                                                     Hakim Putratama        Present as observer
                      1.   Performance Review          Chandra M.                                    Nixon L.P.
                           Bankwide and Sharia                               Present                                        Present
                                                       Hamzah                                        Napitupulu
                           Business Units (UUS) up
                           to June 2023 along with                                                   Oni Febriarto
                           Achievement Prognosis       Iqbal Latanro         Present                                        Absent
                                                                                                     Rahardjo
                           up to December 2023;
                      2.   Achievement of Key          Ahdi Jumhari Luddin   Sick                    Hirwandi Gafar         Present
                           Performance Indicators
                           (KPI) of the Directors      Armand B. Arief       Present                 Nofry Rony Poetra      Absent
                           Collegially up to Quarter
                           II-2023;                    Sentot A. Sentausa    Present                 Eko Waluyo             Present
                      3.   Progress Initiative
                           Corporate Plan up to                                                      Elisabeth Novie
                                                       Andin Hadiyanto       Present                                        Present
4     July 26, 2023        June 2023;                                                                Riswanti
                      4.   Monitoring Risk
                           Appetite, Risk Tolerance,   Herry Trisaputra
                                                                             Present                 Andi Nirwoto           Present
                           and Recovery Plan           Zuna
                           Bankwide and Sharia
                                                       Himawan Arief
                           Business Units (UUS) up                           Present                 Jasmin                 Absent
                                                       Sugoto
                           to June 2023;
                      5.   Monitoring Loan
                                                                                                     Setiyo Wibowo          Present
                           Settlement Document
                           Progress up to June
                                                       Mohamad Yusuf
                           2023;                                             Present
                                                       Permana
                      6.   Monitoring the                                                            Hakim Putratama        Present
                           Implementation of AML
                           and PFT up to June 2023.

                                                       Chandra M.                                    Nixon L.P.
                                                                             Present                                        Absent
                                                       Hamzah                                        Napitupulu
                      1.   Performance Review
                           Bankwide up to August                                                     Oni Febriarto
                           2023 along with             Iqbal Latanro         Present                                        Present
                                                                                                     Rahardjo
                           Achievement Prognosis
                           up to December 2023;        Armand B. Arief       Present                 Hirwandi Gafar         Present
                      2.   Performance Review of
                           Sharia Business Units       Sentot A. Sentausa    Present                 Nofry Rony Poetra      Present
                           (UUS) up to August
                           2023 along with             Andin Hadiyanto       Present                 Eko Waluyo             Present
      September 20,        Achievement Prognosis
5
      2023                 up to December 2023;        Herry Trisaputra                              Elisabeth Novie
                                                                             Present                                        Present
                      3.   Progress Initiative         Zuna                                          Riswanti
                           Corporate Plan up to
                           August 2023;                Himawan Arief
                                                                             Present                 Andi Nirwoto           Present
                      4.   Monitoring Risk             Sugoto
                           Appetite, Risk Tolerance,
                           and Recovery Plan           Mohamad Yusuf
                                                                             Present                 Jasmin                 Present
                           Bankwide and Sharia         Permana
                           Business Units (UUS) up
                           to August 2023.                                                           Setiyo Wibowo          Present
                                                                             Present
                                                                                                     Hakim Putratama        Present



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                                                                        Corporate
                                                                        Governance




                                                                              Board of Commissioners                                 Board of Directors
  No.        Meeting Date              Meeting Agenda
                                                                         Participant              Attendance                Participant                Attendance

                                 1.   Drafting Bank Business         Chandra M.                                         Nixon L.P.
                                      Plan (RBB) for 2024–                                    Present                                            Present
                                                                     Hamzah                                             Napitupulu
                                      2026 and Company
                                      Work Plan & Budget for                                                            Oni Febriarto
                                      2024;                          Iqbal Latanro            Present                                            Present
                                                                                                                        Rahardjo
                                 2.   Performance Review
                                      Bankwide up to. October        Armand B. Arief          Present                   Hirwandi Gafar           Absent
          November 22,                2023 along with
 6
          2023                        Achievement Prognosis          Sentot A. Sentausa       Present                   Nofry Rony Poetra        Present
                                      up to December 2023;
                                 3.   Performance Review of          Andin Hadiyanto          Present                   Eko Waluyo               Present
                                      Sharia Business Units
                                      (UUS) up to October
                                      2023 along with                Herry Trisaputra                                   Elisabeth Novie
                                                                                              Present                                            Present
                                      Achievement Prognosis          Zuna                                               Riswanti
                                      up to December 2023;
                                 4.   Progress Initiative            Himawan Arief
                                      Corporate Plan up to                                    Present                   Andi Nirwoto             Present
                                                                     Sugoto
                                      October 2023;
                                 5.   Monitoring Risk                Mohamad Yusuf
                                      Appetite, Risk Tolerance,                               Present                   Jasmin                   Present
                                                                     Permana
                                      and Recovery Plan
                                      Bankwide and Sharia                                                               Setiyo Wibowo            Present
                                      Business Units (UUS) up
                                      to October 2023; and
                                 6.   Development of Credit                                                                                      Present
                                      Accrued Interest.


Meeting Frequency and Attendence

Table of Meeting Frequency and Attendance Level of the Board of Commissioners
                                                                                         Joint Meeting of the Board of
                                            Internal Meeting of the Board of
                                                                                        Commissioners and the Board of                           GMS
                                                     Commissioners
                                                                                                   Directors
      Name                Position
                                         Number and Percentage of AttendanceNumber and Percentage of AttendanceNumber and Percentage of Attendance

                                          Number of Number of              Number of Number of              Number of Number of
                                                                Percentage                       Percentage                       Percentage
                                           Meetings Attendances             Meetings Attendances             Meetings Attendances

                      President
 Chandra M.
                      Commissioner/           52            44          84,62%            6             6           100%             2             2           100%
 Hamzah
                      Independent

                      Vice President
 Iqbal Latanro        Commissioner/           52            52           100%             6             6           100%             2             2           100%
                      Independent

 Ahdi Jumhari         Independent
                                              15            15           100%             1             1           100%             2             2           100%
 Luddin*              Commissioner

 Armand B.            Independent
                                              52            52           100%             6             6           100%             2             2           100%
 Arief                Commissioner

 Sentot A.            Independent
                                              52            51           100%             6             6           100%             2             2           100%
 Sentausa             Commissioner
 Andin
                      Commissioner            52            52           100%             6             6           100%             2             2           100%
 Hadiyanto
 Herry
                      Commissioner            52            52           100%             6             6           100%             2             2           100%
 Trisaputra Zuna
 Himawan Arief
                      Commissioner            52            52           100%             6             6           100%             2             2           100%
 Sugoto
 Mohamad
 Yusuf                Commissioner            29            29           100%             3             3           100%             1             1           100%
 Permana**

* The presence of Mr. Ahdi Jumhari Luddin as Independent Commissioner at the meeting was due to his health condition until he passed away on August 12 2023.
**Appointed based on the EGMS on January 11, 2023 and effective from June 7, 2023.




482            PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                   2023 Annual Report




Training and/or Competency Development for Members of the Board of Commissioners

Policy on the training and/or competency development for members of the Board of Commissioners has been implemented in Good
Corporate Governance. Programs of capacity building for members of the Board Commissioners include:
1. The capacity-building programs are carried out to increase the effectiveness of the work of the Board of Commissioners.
2. Each member of the Board of Commissioners participating in the programs such as seminars and/or training is required to have
    presentations to share their knowledge or to give any information.
3. The material received from the programs must be properly documented in a separate section. The documentation becomes the
    responsibility of the Secretary of the Board of Commissioners. This material must be available if further needed.


Throughout 2023, members of the Company’s Board of Commissioners have participated in various competency improvement programs
in the form of training, workshops, conferences and seminars as in the following table.


                                            Type of Training and Competency/Training                  Time and place
        Name                Position                                                                                           Organizer
                                                      Development Materials                           Implementation
                                                                                                 May 12 – 13, 2023 at       PwC and Korn
                                         Leadership Forum “Envisioning Culture For Leader”
                                                                                                 Padma Hotel Semarang       Ferry
                                         GRC Masterclass Program 2023 “Socialization of          September 14, 2023 via
                                                                                                                            BSE BUMN
                                         SOE & SOE Subsidiaries Ranking”                         Zoom Meeting
                                                                                                 September 15 - 16, 2023
                                         Board of Commissioner Forum 2023                        at Ayana Hotel Waecicu     LPPI
                                                                                                 Beach, Labuan Bajo, NTT
                        President
                                         GRC Masterclass Program 2023 “ESG for Boards –          September 27, 2023 via
 Chandra M. Hamzah      Commissioner/                                                                                       BSE BUMN
                                         Governance of ESG”                                      Zoom Meeting
                        Independent
                                         GRC Masterclass Program 2023 "Integrated                October 05, 2023 via
                                                                                                                            BSE BUMN
                                         Information For Supervisionary Board"                   Zoom Meeting
                                         GRC Masterclass Program 2023 "Methodology and           October 25, 2023 via
                                                                                                                            BSE BUMN
                                         Environmental and Social Management Systems"            Zoom Meeting
                                                                                                 October 29, 2023 in
                                         Executive Risk Management Refresher Program, LPPI -
                                                                                                 Amsterdam, Brussels, &     LPPI
                                         Europe 2023
                                                                                                 Paris
                                                                                                 May 12 -13, 2023 at        PwC and Korn
                                         Leadership Forum “Envisioning Culture For Leader”
                                                                                                 Padma Hotel Semarang       Ferry
                                         GRC Masterclass Program 2023 "Pre IPO and Post
                                                                                                 August 10, 2023 via Zoom
                                         IPO – Ranking and issuance of loan & sukuk securities                              OJK
                                                                                                 Meeting
                                         (EBUS) "
                                         GRC Masterclass Program 2023 “Socialization of          September 14, 2023 via
                                                                                                                            BSE BUMN
                                         SOE & SOE Subsidiaries Ranking”                         Zoom Meeting
                                                                                                 September 15 - 16, 2023
                        Vice President   Board of Commissioner Forum 2023                        at Ayana Hotel Waecicu     LPPI
 Iqbal Latanro          Commissioner/                                                            Beach, Labuan Bajo, NTT
                        Independent      GRC Masterclass Program 2023 “ESG for Boards –          September 27, 2023 via
                                                                                                                            BSE BUMN
                                         Governance of ESG”                                      Zoom Meeting
                                         GRC Masterclass Program 2023 "Integrated                October 05, 2023 via
                                                                                                                            BSE BUMN
                                         Information For Supervisionary Board"                   Zoom Meeting
                                         GRC Masterclass Program 2023 "Methodology and           October 25, 2023 via
                                                                                                                            BSE BUMN
                                         Environmental and Social Management Systems"            Zoom Meeting
                                                                                                 October 29, 2023 in
                                         Executive Risk Management Refresher Program, LPPI -
                                                                                                 Amsterdam, Brussels, &     LPPI
                                         Europe 2023
                                                                                                 Paris
                        Independent      GRC Masterclass Program 2023: Audit Teknologi           June 27, 2023 via Zoom
 Ahdi Jumhari Luddin*                                                                                                       BSE BUMN
                        Commissioner     Informasi                                               Meeting
                                                                                                 May 12 – 13, 2023 at       PwC and Korn
                                         Leadership Forum “Envisioning Culture For Leader”
                                                                                                 Padma Hotel Semarang       Ferry
                                         GRC Masterclass Program 2023 “Risk Management           September 07, 2023 via
                                                                                                                            BSE BUMN
                                         Effectiveness Evaluation”                               Zoom Meeting
                                         GRC Masterclass Program 2023 “Socialization of          September 14, 2023 via
                                                                                                                            BSE BUMN
                                         SOE & SOE Subsidiaries Ranking”                         Zoom Meeting
                        Independent
 Armand B. Arief                                                                                 September 15 - 16, 2023
                        Commissioner
                                         Board of Commissioner Forum 2023                        at Ayana Hotel Waecicu     LPPI
                                                                                                 Beach, Labuan Bajo, NTT
                                         GRC Masterclass Program 2023 “ESG for Boards –          September 27, 2023 via
                                                                                                                            BSE BUMN
                                         Governance of ESG”                                      Zoom Meeting
                                         GRC Masterclass Program 2023 "Integrated                October 05, 2023 via
                                                                                                                            BSE BUMN
                                         Information For Supervisionary Board"                   Zoom Meeting



                                                                              PT Bank Tabungan Negara (Persero) Tbk                    483
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                                                         Corporate
                                                         Governance




                                         Type of Training and Competency/Training                 Time and place
       Name                 Position                                                                                      Organizer
                                                   Development Materials                          Implementation
                                                                                             May 12 – 13, 2023 at      PwC and Korn
                                       Leadership Forum “Envisioning Culture For Leader”
                                                                                             Padma Hotel Semarang      Ferry
                                       GRC Masterclass Program 2023 “Socialization of        September 14, 2023 via
                                                                                                                       BSE BUMN
                                       SOE & SOE Subsidiaries Ranking”                       Zoom Meeting
                                                                                             September 15 - 16, 2023
                                       Board of Commissioner Forum 2023                      at Ayana Hotel Waecicu    LPPI
                        Independent                                                          Beach, Labuan Bajo, NTT
Sentot A. Sentausa
                        Commissioner
                                       GRC Masterclass Program 2023 “ESG for Boards –        September 27, 2023 via
                                                                                                                       BSE BUMN
                                       Governance of ESG”                                    Zoom Meeting
                                       GRC Masterclass Program 2023 "Integrated              October 05, 2023 via
                                                                                                                       BSE BUMN
                                       Information For Supervisionary Board"                 Zoom Meeting
                                       GRC Masterclass Program 2023 "Methodology and         October 25, 2023 via
                                                                                                                       BSE BUMN
                                       Environmental and Social Management Systems"          Zoom Meeting
                                                                                             May 12 – 13, 2023 at      PwC and Korn
                                       Leadership Forum “Envisioning Culture For Leader”
                                                                                             Padma Hotel Semarang      Ferry
                                       GRC Masterclass Program 2023 “Socialization of        September 14, 2023 via
                                                                                                                       BSE BUMN
                                       SOE & SOE Subsidiaries Ranking”                       Zoom Meeting
                                                                                             September 15 - 16, 2023
                                       Board of Commissioner Forum 2023                      at Ayana Hotel Waecicu    LPPI
Andin Hadiyanto         Commissioner                                                         Beach, Labuan Bajo, NTT
                                       GRC Masterclass Program 2023 “ESG for Boards –        September 27, 2023 via
                                                                                                                       BSE BUMN
                                       Governance of ESG”                                    Zoom Meeting
                                       GRC Masterclass Program 2023 "Integrated              October 05, 2023 via
                                                                                                                       BSE BUMN
                                       Information For Supervisionary Board"                 Zoom Meeting
                                       GRC Masterclass Program 2023 "Methodology and         October 25, 2023 via
                                                                                                                       BSE BUMN
                                       Environmental and Social Management Systems"          Zoom Meeting
                                       GRC Masterclass Program 2023 “Risk Management         September 07, 2023 via
                                                                                                                       BSE BUMN
                                       Effectiveness Evaluation”                             Zoom Meeting
                                       GRC Masterclass Program 2023 “Socialization of        September 14, 2023 via
                                                                                                                       BSE BUMN
                                       SOE & SOE Subsidiaries Ranking”                       Zoom Meeting
                                                                                             September 15 - 16, 2023
                                       Board of Commissioner Forum 2023                      at Ayana Hotel Waecicu    LPPI
                                                                                             Beach, Labuan Bajo, NTT
Herry Trisaputra Zuna   Commissioner   GRC Masterclass Program 2023 “ESG for Boards –        September 27 2023 via
                                                                                                                       BSE BUMN
                                       Governance of ESG”                                    Zoom Meeting
                                       GRC Masterclass Program 2023 "Integrated              October 05, 2023 via
                                                                                                                       BSE BUMN
                                       Information For Supervisionary Board"                 Zoom Meeting
                                       Webinar OJK "Managing Environmental,Social and        October 19, 2023 via
                                                                                                                       OJK
                                       Governance Risk and Opportunities"                    Zoom Meeting
                                       GRC Masterclass Program 2023 "Methodology and         October 25, 2023 via
                                                                                                                       BSE BUMN
                                       Environmental and Social Management Systems"          Zoom Meeting
                                                                                             May 12 – 13, 2023 at      PwC and Korn
                                       Leadership Forum “Envisioning Culture For Leader”
                                                                                             Padma Hotel Semarang      Ferry
                                       GRC Masterclass Program 2023 “Risk Management         September 07, 2023 via
                                                                                                                       BSE BUMN
                                       Effectiveness Evaluation”                             Zoom Meeting
                                       GRC Masterclass Program 2023 “Socialization of        September 14, 2023 via
                                                                                                                       BSE BUMN
                                       SOE & SOE Subsidiaries Ranking”                       Zoom Meeting
                                                                                             September 15 - 16, 2023
                                       Board of Commissioner Forum 2023                      at Ayana Hotel Waecicu    LPPI
Himawan Arief                                                                                Beach, Labuan Bajo, NTT
                        Commissioner
Sugoto                                 GRC Masterclass Program 2023 “ESG for Boards –        September 27, 2023 via
                                                                                                                       BSE BUMN
                                       Governance of ESG”                                    Zoom Meeting
                                       GRC Masterclass Program 2023 "Integrated              October 05, 2023 via
                                                                                                                       BSE BUMN
                                       Information For Supervisionary Board"                 Zoom Meeting
                                       GRC Masterclass Program 2023 "Methodology and         October 25, 2023 via
                                                                                                                       BSE BUMN
                                       Environmental and Social Management Systems"          Zoom Meeting
                                                                                             October 29, 2023 in
                                       Executive Risk Management Refresher Program, LPPI -
                                                                                             Amsterdam, Brussels, &    LPPI
                                       Europe 2023
                                                                                             Paris




484         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                            2023 Annual Report




                                                     Type of Training and Competency/Training                  Time and place
         Name                   Position                                                                                                 Organizer
                                                               Development Materials                           Implementation
                                                 Pelatihan Bank Managament Executive Overview for         August 10, 2023 at LPPI
                                                                                                                                      LPPI
                                                 BOC                                                      Jakarta
                                                 GRC Masterclass Program 2023 “Socialization of           September 14, 2023 via
                                                                                                                                      BSE BUMN
                                                 SOE & SOE Subsidiaries Ranking”                          Zoom Meeting
 Mohamad Yusuf                                   GRC Masterclass Program 2023 “ESG for Boards –           September 27, 2023 via
                           Commissioner                                                                                               BSE BUMN
 Permana**                                       Governance of ESG”                                       Zoom Meeting
                                                 GRC Masterclass Program 2023 "Integrated                 October 05, 2023 via
                                                                                                                                      BSE BUMN
                                                 Information For Supervisionary Board"                    Zoom Meeting
                                                 GRC Masterclass Program 2023 "Methodology and            October 25, 2023 via
                                                                                                                                      BSE BUMN
                                                 Environmental and Social Management Systems"             Zoom Meeting
* Termination of office due to death on August 12 2023.
**Appointed based on the EGMS on January 11, 2023 and effective from June 7, 2023.




Orientation Program for New Members of the Board                                     7. Company Culture; and
of Commissioners                                                                     8. Governance of policies and procedures.


The Company has always held an Orientation Program or                                Recommendation, Realization of Duties of The
Introduction for newly-appointed members of the Board of Directors                   Board of Commissioners, and Supervision on The
to be acquainted with one another and establish cooperation as                       Implementation of Company Strategy
a solid, comprehensive, effective team. The Orientation Program
also aims to provide insight into the condition of the Company in                    The Board of Commissioners has carried out supervisory duties,
general. The orientation program for the Board of Commissioner                       directing, providing advice, monitoring and evaluating the
is regulated in the Guidelines and Code of Conduct of the Board                      implementation of the Company’s strategic policies, including:
of Commissioners, namely:                                                            1 Regularly reviewing the Company’s performance bankwide
1. Implementation of Good Corporate Governance and Code                                  and UUS;
     of Conduct principles in the Company.                                           2 Monitoring the implementation of the company’s planned
2. Description regarding the duties and responsibilities of the                          strategic initiatives on a regular basis;
     Board of Commissioners and Board of Directors and other                         3 Regularly monitoring of risk management implementation
     restrictions.                                                                       including risk profile, Bank health level, KPMM, risk appetite,
3. Overview of the Company in terms of the objectives, nature,                           risk tolerance and recovery plan;
     and scope of the Company’s activities, financial performance,                   4 Monitoring the completion of credit documents;
     and strategies, as well as the Company’s short and long-term                    5 Monitoring the implementation of the Anti-Money Laundering
     plans, risks, Internal Control, and other strategic issues.                         and Prevention of Terrorism Financing (AML-CTF) program;
4. Information regarding delegated authority, Internal and                           6. Approval of the annual audit plan and monitoring of audit
     External Audits, Internal Control systems and policies, and                         implementation including follow-up to internal and external
     the Audit Committees Audit.                                                         audits;
                                                                                     7 Recommendations and Determination of Collegial, Individual
In 2023, a new member of the Board of Commissioners was                                  and PMN Key Performance Indicators (KPI) including changes;
appointed at the Company’s Extraordinary GMS on January 11,                          8 Supervision of the Board of Commissioners over the
2023, namely Mr. Mohamad Yusuf Permana as Commissioner.                                  Performance and Implementation of the Bank’s Business Plan;
The orientation program for new members of the Board of                              9 Adjustment of the Bank’s Business Plan and Company Work
Commissioners would be held on January 30 - 31, 2023 with                                Plan & Budget;
the following topics:                                                                10 Development of the Company’s organization and Human
1. The objectives and scope of the Company’s activities are in                           Resources (HR) management strategy;
     accordance with the Articles of Association;                                    11 Implementation of the Annual GMS decisions as follows:
2. Financial performance, strategy, short-term and long-term                             a. Ratification of Annual Reports, Financial Reports and
     business plans, as well as the Company’s competitive position;                           PUMK Financial Reports;
3. Risk management and bank health level;                                                b. Determination of the use of net profit;
4. Internal control system, internal audit and external audit;                           c. Determination of remuneration (salary/honorarium,
5. Facilities for members of the Board of Commissioners;                                      facilities and allowances) and bonuses for the Company’s
6. Compliance, corporate governance, working relationship                                     Directors and Board of Commissioners;
     patterns of the Board of Commissioners and Directors,                               d. Appointment of AP and/or KAP to audit Financial
     and work guidelines and regulations of the Board of                                      Reports and PUMK Program Financial Reports;
     Commissioners;                                                                      e. Approval of the Company’s Resolution Plan




                                                                                         PT Bank Tabungan Negara (Persero) Tbk                   485
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                                                             Governance




    f.  Report on the Realization of the Use of Proceeds from the         Commissioners’ performance, while the performance assessment of
        Sustainable Public Offering of Shelf-Registered Bonds IV Bank     the Board of Directors is carried out through the achievement of KPIs
        BTN Phase II 2022 and Additional Capital by Providing Pre-        which refer to the results of measurements carried out by external
        emptive Rights for Limited Public Offering II (PMHMETD II);       auditors who audit the company’s annual financial reports.
    g. Approval of Amendments to the Company’s Articles of
        Association;                                                      Performance Assessment of the Board of Directors
    h. Changes in the Composition and Determination
        of Remuneration of the Company’s UUS Sharia                       The performance assessment of the Company’s Directors,
        Supervisory Board;                                                including the President Director, is carried out once in a 1 (one)
    i. Changes in the Composition of the Company’s                        year period and will be implemented in 2023.
        Management.
12. Implementation of Extraordinary GMS decisions in the form             PROCEDURE OF PERFORMANCE ASSESSMENT OF THE BOARD
    of Approval of Changes to the Composition of the Company’s            OF DIRECTORS
    Management;                                                           The procedure for determining and assessing the performance
13. Recommendations for Changes in the Composition of the Sharia          of the Board of Directors refers to the Regulation of the Minister of
    Supervisory Board of PT Bank Tabungan Negara (Persero) Tbk            BUMN number PER-2/MBU/03/2023 concerning Guidelines for
14. Recommendation for the appointment of a Public Accounting             Governance and Significant Corporate Activities of State-Owned
    Firm (KAP) to audit the Company’s annual historical financial         Enterprises and the Decree of the Minister of BUMN Number SK-306/
    reports and PUMK Financial Reports;                                   MBU/11/2023 concerning Instructions Technical Preparation of Key
15. Appointment of the Company’s Corporate Rating Service.                Performance Indicators for BUMN. BUMN Directors are required to
                                                                          sign an Annual Management Contract which contains the KPI targets
16. Other strategic policies include, among others:                       for Directors collectively and the KPI Directors individually.
    a. Annual Audit Plan including budget;                                The KPI of the Directors collectively and the KPI of the Directors
    b. Internal Audit Charter.                                            individually are effective measuring tools in monitoring the performance
    c. Adequacy of internal control policies;                             and implementation of the duties of the Company Management carried
    d. Providing Credit/Financing to Related Parties;                     out by the Directors. The procedures for determining and assessing KPIs
    e. Directions for Credit Committee meeting decisions;                 are regulated in articles 104 and 105 of the Minister of State-Owned
    f. Directions for the implementation of the Anti-Bribery              Enterprises Regulation PER-2/MBU/03/2023 as follows:
       Management System;                                                 1. The Board of Directors submits the Board of Directors’ KPI
    g. Operational Activities including Information Technology                 proposals collegally to the GMS/Minister to be determined
       Infrastructure and Operations;                                          simultaneously with the determination of the Company’s
    h. Credit and Financing Activities and Management;                         Budget Work Plan.
    i. Publication of Financial Reports;                                  2. Before ratifying the Company’s Budget Work Plan, the Board
    j. New Bank Products (PBB) and Activities for Bank Interests               of Commissioners must first consult with state shareholders to
       (KuKB);                                                                 determine the KPI for the Board of Directors.
    k. Compliance Report;                                                 3. Directors are required to translate the KPIs of the Directors
    l. Sustainable Finance Action Plan;                                        collectively into the KPIs of the Directors individually and
    m. Evaluation of Audit Services by Public Accounting Firms                 submit them to the Board of Commissioners for approval.
       on Annual Financial Information;                                   4. The Board of Directors’ KPI achievements are collectively
    n. Approval of the Removal and Appointment of the Corporate                reported in quarterly reports and annual reports.
       Secretary and Recommendation for the appointment of SEVP.          5. The calculation of the Directors’ KPI achievements is reviewed
    o. Recommendations for Nominated Talent BoD-1 and                          collegially and individually by a public accounting firm that
       Existing BoD to CTC Financial Services.                                 audits the company’s financial statements.
    p. Proposed remuneration for the Board of Commissioners,
       Directors and Sharia Supervisory Board as well as                  CRITERIA OF PERFORMANCE ASSESSMENT OF THE BOARD
       bonuses for the Board of Commissioners and Directors.              OF DIRECTORS
                                                                          Performance Assessment of Collegial Directors
Performance Assessment of the Board of Directors                          The KPI used to measure and assess the performance of the Board
and The Board of Commissioners                                            of Directors collegiately in managing the company consists of 5
                                                                          (five) perspectives, namely as follows:
In order to improve work performance and responsibility, the              1. Economic and social values for Indonesia;
Board of Commissioners and the Board of Directors are committed           2. Business model innovation;
to implementing policy and conducting performance assessment              3. Technology leadership;
for the Board of Commissioners and Directors. The Board of                4. Investment improvement; and
Commissioners has its Self-Assessment Policy to assess the Board of       5. Talent Improvement.




486          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                               2023 Annual Report




Performance Assessment of Individual Directors
The Board of Directors’ KPI is collegially the Main Director’s KPI. Meanwhile, the KPI of the Directors individually is a cascading of the
KPI of the Main Director based on the duties, functions and responsibilities of each Directorate.


                          Pres-      Vice
                          ident     Pres-                Distribution   Institutional     Assets      IT &                  Risk             SEVP   SEVP
 No       Indicator                           Consumer                                                         Finance                HCCL
                          Direc-    ident                & Funding        Banking       Management   Digital             Management           WB    Ops
                           tor     Director

 A. Economic and Social Value for Indonesia

 A. 1. Financial Aspect                                                                                                                       √      √

  1    PPOP                  √        √          √            √              √              √          √          √          √         √      √      √

  2    PPOP Growth           √        √          √            √              √              √          √          √          √         √

       Total
  3    Shareholder           √        √                                                                           √
       Return

  4    Market Cap            √        √                                                                           √                           √      √

       ROE Tier 1
  5                          √        √          √            √              √              √          √          √          √         √      √      √
       Capital

  6    CAR                   √        √          √            √              √              √          √          √          √         √

 A. 2. Operational Aspects                                                                                                                    √

  7    LaR                   √        √          √                                          √                                √                √

  8    CKPN to LaR           √        √          √                                          √                     √          √                √

       Cost of Credit
  9                          √        √          √                                          √                                √                √      √
       (CoC)

 10    BOPO                  √        √          √            √              √              √          √          √          √         √

 A. 3. Social Aspects

       Realization
       of Subsidized
 11                          √        √          √
       KPR
       Distribution

 B. Business Model Innovation

       Average
       Balance of
 12                          √        √
       Low Cost
       Fund

 13    CASA Ratio            √        √                                                                √

       Number of
       Housing Units
       Funded by
 14                          √        √          √
       KPR Program
       Rumah
       Millennial

       Improving
       the Digital
 15    Mortgage              √        √                                                                √                     √
       Ecosystem
       Proposition

 C. Technology Leadership

       Implementa-
       tion of ATM
       Integration
 16                          √        √                                                                √
       (Project Jalin)
       and EDC
       Payment

       Cyber Security
 17    Breach (Zero          √        √                                                                √
       Incident)

       IT Maturity
 18                          √        √                                                                √
       Level

 D. Investment Development

       Environment,
       Social,
 19                          √        √          √            √              √              √          √          √          √         √      √      √
       Governance
       (ESG) Rating




                                                                                          PT Bank Tabungan Negara (Persero) Tbk                     487
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                         Pres-      Vice
                         ident     Pres-                Distribution     Institutional     Assets       IT &                  Risk             SEVP     SEVP
 No       Indicator                          Consumer                                                            Finance                HCCL
                         Direc-    ident                & Funding          Banking       Management    Digital             Management           WB      Ops
                          tor     Director

       Risk
 20    Management          √         √                                                                                         √
       Maturity Index

       Number
       of Retail
       Customers
 21    Using Digital       √         √                                                                   √
       Mortgage
       Ecosystem
       Facilities

       Achievement
 22    Level of PMN        √         √
       KPI

 E. Talent Development

       Implemen-
       tation/
       Preparation
       of Policies Re-
       garding Talent
 23                        √         √                                                                                                   √
       Development
       & Career Path
       System in the
       Holding/Clus-
       ter Scope

       Risk
       Management
       Organ
 24                        √         √                                                                                                   √
       Qualification
       Fulfillment
       Ratio

       Completion
       of the
       Preparation
 25                        √         √                                                                             √                     √
       of the Benefit
       Pension Fund
       Road Map

       Female
 26    Nominated           √         √                                                                                                   √
       Talent Ratio

       Young Top
       Talent (≤ 42
 27    Years) in           √         √                                                                                                   √
       Nominated
       Talent Ratio



THE PARTY OUT THE ASSESSMENT
The performance of the Directors is assessed based on the calculation of the Directors’ KPI achievements collegially and individually
referring to the results of measurements carried out by external auditors who audit the company’s annual financial reports. Furthermore,
the Board of Commissioners submits the results of the performance assessment of the Board of Directors to be reported to shareholders.
Referring to article 105 paragraph (1) PER-2/MBU/03/2023, the achievements of the Board of Directors’ KPI are collectively reported
in quarterly reports and annual reports.


RESULTS OF THE SCPD BOARD OF DIRECTORS’ PERFORMANCE ASSESSMENT
The results of the collegial assessment of the Directors’ KPI, which is the Main Director’s KPI, are as follows.

Collegial KPI 2023 Audited PT Bank Tabungan Negara (Persero) Tbk
  No                     Indicator                         Unit            Weight            Target          Realization     Achievement         Score
 A. Economic and Social Value for Indonesia

         A. 1. Financial Aspect
   1     PPOP                                           IDR trillion          6,00%             8,00               8,24            102,91%            6,17%

   2     PPOP Growth                                        %                 3,00%             0,36               3,28            110,00%            3,30%

   3     Total Shareholder Return                           %                 3,00%            10,59               4,02             37,96%            1,14%

   4     Market Cap                                     IDR trillion          3,00%            20,34              17,54             86,23%            2,59%

   5     ROE Tier 1 Capital                                 %                 3,00%            12,16              13,86            110,00%            3,30%




488           PT Bank Tabungan Negara (Persero) Tbk
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  No                    Indicator                        Unit        Weight    Target       Realization     Achievement         Score
   6     CAR                                              %           4,00%      19,30           20,07          104,01%           4,16%

         A. 2. Operational Aspects
   7     LaR                                              %           3,00%      20,99           21,10           99,49%           2,98%

   8     CKPN to LaR                                      %           3,00%      23,40           22,15           94,64%           2,84%

   9     Cost of Credit (CoC)                             %           3,00%       1,28            1,19          107,01%           3,21%

  10     BOPO                                             %           3,00%      87,04           86,10          101,08%           3,03%

         A. 3. Social Aspects
  11     Realization of Subsidized KPR Distribution   IDR trillion    6,00%      25,68           26,29          102,39%           6,14%

 B. Business Model Innovation

  12     Average Balance of Low Cost Fund             IDR trillion    4,00%     167,89          159,29           94,87%           3,79%

  13     CASA Ratio                                       %           4,00%      53,15           53,73          101,08%           4,04%

  14     Number of Housing Units Funded by               Unit         5,00%     28.600          31.355          109,63%           5,48%
         KPR Program Rumah Millennial

  15     Improving the Digital Mortgage                   %           5,00%     100,00          110,00          110,00%           5,50%
         Ecosystem Proposition

 C. Technology Leadership

  16     Implementation of ATM Integration               Time         5,00%     100,00          108,62          108,62%           5,43%
         (Project Jalin) and EDC Payment

  17     Cyber Security Breach (Zero Incident)           Unit         3,00%       0,00            0,00          100,00%           3,00%

  18     IT Maturity Level                               Level        3,00%       3,30            3,40          103,03%           3,09%

 D. Investment Development

  19     Environment, Social, Governance (ESG)          Rating        4,00%    Medium          Medium           100,00%           4,00%
         Rating                                                                   Risk            Risk

  20     Risk Management Maturity Index                 Index         3,00%       3,25            3,40          104,62%           3,14%

  21     Number of Retail Customers Using             Customer        5,00%    180.000        209.218           110,00%           5,50%
         Digital Mortgage Ecosystem Facilities

  22     Achievement Level of PMN KPI                     %           9,00%     100,00          103,47          103,47%           9,31%

 E. Pengembangan Talenta

  23     Implementation/Preparation of Policies           %           2,00%     100,00          110,00          110,00%           2,20%
         Regarding Talent Development & Career
         Path System in the Holding/Cluster Scope

  24     Risk Management Organ Qualification              %           2,00%     100,00          100,00          100,00%           2,00%
         Fulfillment Ratio

  25     Completion of the Preparation of the             %           2,00%     100,00          110,00          110,00%           2,20%
         Benefit Pension Fund Road Map

  26     Female Nominated Talent Ratio                    %           2,00%      18,50           20,51          110,00%           2,20%

  27     Young Top Talent (≤ 42 Years) in                 %           2,00%      22,75           30,38          110,00%           2,20%
         Nominated Talent Ratio

         Total                                                                                                                  101,96%


Performance Assessment of The Board of Commissioners

The performance assessment of the Board of Commissioners is carried out once every 1 (one) year and will be implemented in 2023.


PROCEDURE OF PERFORMANCE ASSESSMENT OF THE BOARD OF COMMISSIONERS
The Performance Assessment Procedure for the Board of Commissioners is carried out by means of an independent assessment based on the
Regulation of the Minister of State-Owned Enterprises number PER-3/MBU/03/2023 dated March 24, 2023 concerning Organs and Human
Resources of State-Owned Enterprises and Decree of the Secretary of the Ministry of State-Owned Enterprises No. SK-16/S.MBU/2012 dated June
6, 2012 concerning Indicators/Parameters for Assessment and Evaluation of the Implementation of Good Corporate Governance in BUMN.




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                                                                Governance




CRITERIA OF PERFORMANCE ASSESSMENT OF THE BOARD                              Individual Performance Assessment Criteria for the Board of
OF COMMISSIONERS                                                             Commissioners
Collegial Performance Evaluation Criteria for the Board of                   The main criteria for evaluating the performance of the Board of
Commissioners                                                                Commissioners individually include
The performance assessment criteria must be in accordance with               1. Work performance
the functions of the Board of Commissioners in supervising and               2. Work behavior
providing advice to the Board of Directors, for the interests of             3. Additional/Ad hoc tasks
the Company and shareholders in particular and stakeholders in
general. The primary criteria of the Performance Assessment for              THE PARTY CONDUCTING THE ASSESSMENT
the Board of Commissioners include:                                          The performance assessment of the Board of Commissioners is
1. Planning, supervision and direction/advisory aspects;                     carried out using a self-assessment mechanism and is reported or
2. Reporting Aspect;                                                         submitted periodically to shareholders.
3. Company Performance Aspects;
4. Other aspects, if needed.



RESULTS OF THE BOARD OF COMMISSIONERS’ PERFORMANCE ASSESSMENT
Results of Collegial Performance Assessment of the Board of Commissioners
The results of the achievement of the performance of the Board of Commissioners in 2023 towards the Key Performance Indicators (KPI) targets
determined in the work program are presented as follows:


                                                          Weight
 No                      Work Plan                                       Realization          Target          Penc. (%)          Value
                                                           (%)
         Planning, Supervision and
   I                                                       65                                                                  89,44
         Direction/Advisory aspects
         Monitoring and Evaluation of the
  1      implementation of the Bank’s Annual RBB           10                 12                 6           200,00            20,00
         and RKAP
         Monitoring, Evaluation and Response to
  2      the Implementation of Work Culture and            15                 12               12            100,00            15,00
         Governance (GCG) for Bank Management.
         Monitoring and Evaluation of Follow-up to
  3                                                         5                 20               12            166,67             8,33
         Bank Internal/External Audit Results/Findings.
         Providing Approval, Advisory and
  4                                                        10                 12               12            100,00            10,00
         Consultation to the Board of Directors
         Organizing Board of Commissioners
  5      Meetings and/or Joint Board of Directors          10                 64               36            177,78            17,78
         Meetings.
         Monthly Performance Analysis and Risk
  6      Management (According to KBUMN                    10                 10               12             83,33             8,33
         Format)
         Talent Pool Mapping (track record) BOD-1
  7                                                         5                  2                 1           200,00            10,00
         (based on integrity and performance)
  II     Reporting Aspects                                 15                               37,50                              37,50
         Submitting the Bank’s Annual Work
  8                                                         5                  4                 1           400,00            20,00
         Program and RBB Report to the GMS
         Submitting Reports/Opinions Regarding
  9      Supervisory Duties to Controlling                 10                  7                 4           175,00            17,50
         Shareholders – Ministry of BUMN and OJK.
  III    Aspects of Company Performance                    15                               25,83                              25,83
         Monitoring and Evaluation of Performance
         Achievement and Bank Health Level,
  10                                                       10                 12                 6           200,00            20,00
         including: Risk Profile, Governance (GCG),
         Profitability and Bank Capital.
         Monitoring and Evaluation of Talent
  11     Development Strategies and High                    5                  7                 6           116,67             5,83
         Performing Company Culture.
  IV     Dynamic/Other Aspects                              5                               17,50                              17,50
         Increased Competency related to
  12                                                        5                  7                 2           350,00            17,50
         Supervisory duties and responsibilities.
 TOTAL                                                    100                             170,28                             170,28




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Results of Individual Performance Assessment of the Board of Commissioners
As regulated in the Minister of BUMN Regulation Number PER-2/MBU/03/2023 concerning Guidelines for Governance and Significant
Corporate Activities of BUMN, the Board of Commissioners is obliged to carry out an annual evaluation of each individual member of
the Board of Commissioners. The method determined by the Board of Commissioners in assessing the performance of members of the
Board of Commissioners is the self-assessment method which is then reviewed and approved by the Board of Commissioners. Assessment
is carried out using key performance indicators that are specific, measurable, achievable, and relevant.


The following is an assessment of the performance of members of the Board of Commissioners based on the main performance indicators
as referred to above:


 No.        Indicator         Chandra M.          Iqbal    Armand     Sentot A.     Andin         Herry        Himawan   Mohamad
                                 Hamzah          Latanro   B. Arief   Sentausa    Hadiyanto    Trisaputra        Arief     Yusuf
                                (President                                                        Zuna          Sugoto   Permana
                             Commissioner/
                              Independent
                             Commissioner)

 Work performance

       Monitoring and
       Evaluation of the
 1.    implementation of
       the Bank’s Annual
       RBB and RKAP

       Monitoring,
       Evaluation and
       Response to the
       Implementation
 2.
       of Work Culture
       and Governance
       (GCG) for Bank
       Management.

       Monitoring and
       Evaluation of
       Follow-up to Bank
 3.
       Internal/External
       Audit Results/
       Findings.

       Providing Approval,
       Advisory and
 4.
       Consultation to the
                                   80              80        80          80          80           80             80        80
       Board of Directors

       Organizing Board
       of Commissioners
 5.    Meetings and/
       or Joint Board of
       Directors Meetings.

       Monthly
       Performance
       Analysis and Risk
 6.
       Management
       (According to
       KBUMN Format)

       Talent Pool Mapping
       (track record)
 7.    BOD-1 (based
       on integrity and
       performance)

       Submitting the
       Bank’s Annual Work
 8.
       Program and RBB
       Report to the GMS




                                                                        PT Bank Tabungan Negara (Persero) Tbk                   491
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  No.            Indicator         Chandra M.      Iqbal      Armand     Sentot A.       Andin        Herry     Himawan       Mohamad
                                      Hamzah      Latanro     B. Arief   Sentausa      Hadiyanto   Trisaputra     Arief         Yusuf
                                     (President                                                       Zuna       Sugoto       Permana
                                  Commissioner/
                                   Independent
                                  Commissioner)

          Submitting Reports/
          Opinions Regarding
          Supervisory Duties
 9.       to Controlling
          Shareholders –
          Ministry of BUMN
          and OJK.

          Monitoring and
          Evaluation of
          Performance
          Achievement and
 10.      Bank Health Level,
          including: Risk
          Profile, Governance
          (GCG), Profitability
          and Bank Capital.

          Monitoring and
          Evaluation of
          Talent Development
 11.
          Strategies and
          High Performing
          Company Culture.

          Increased
          Competency related
 12.      to Supervisory
          duties and
          responsibilities.

 Work Behavior

          AKHLAK                      18,80       18,65       18,60      19,40          18,60       18,60       18,00           18,00

 Additional/Ad hoc tasks

          Chairman of the
          Remuneration
          and Nomination
 1.       Committee and                1,00         -           -           -             -           -
          Member of the CTC
          of the Ministry of
          BUMN

          Chairman of the
 2.                                         -     1,00          -           -             -           -            -                  -
          Audit Committee

          Chairman of the
 3.       Risk Monitoring                   -       -          1,00         -             -           -            -                  -
          Committee

 Total Achievement of Key
                                      99,80       99,65       99,60      99,40          98,60       98,60       98,00           98,00
 Performance Indicators (KPI)

                                                   Very        Very
 Predicate                           Very good                           Very good     Very good   Very good    Very good      Very good
                                                   good        good
Information:
               Mark              Predicate          Mark                  Predicate                Mark                 Predicate
               <60               Not good               <80              Good Enough               <100                 Very good
               <70               Not good               <90                 Good                    100                     Special




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Assessment of the Performance of Committees                                        2. Non-Regular Aspects (Competency Development)
Under the Board of Commissioners                                                   3. Other Aspects (Number of Committee meetings held).
and the Basis of its Assessment
                                                                                   The performance assessment of the Remuneration and Nomination
The Board of Commissioners is assisted by 3 (three) committees, namely             Committee is based on specific, measurable, achievable and
the Audit Committee, Remuneration and Nomination Committee, and                    relevant benchmarks or assessment criteria contained in the
Risk Monitoring Committee. The Board of Commissioners periodically                 main performance assessment indicators contained in the main
assesses the effectiveness of the performance of the Committees under              performance assessment indicators with the following aspects:
the Board of Commissioners. The assessment in question is based                    1. Regular Aspects
on Minister of State-Owned Enterprises Regulation number PER-3/                    2. Non-Regular Aspects
MBU/03/2023 dated March 24, 2023 concerning Organs and                             3. Monitoring Aspects of Implementation of Committee
Human Resources of State-Owned Enterprises and OJK (Financial                          Recommendations
Service Authority) Regulation number 17 of 2023 concerning                         4. Aspects of Special Duties and others (Number of Committee
Implementation of Governance for Commercial Banks. The Board                           meetings held).
of Commissioners assessed that during 2023, the Committees have
carried out their duties and responsibilities quite effectively. The results       The performance assessment of the Risk Monitoring Committee
of the performance assessment of committees under the Board of                     is based on specific, measurable, achievable and relevant
Commissioners are as follows.                                                      benchmarks or assessment criteria contained in the main
                                                                                   performance assessment indicators with the following aspects:
Procedure of Performance Assessment of the Board                                   1. Aspects of Fulfilling Duties and Responsibilities.
of Commissioners                                                                   2. Planning and Reporting Aspects.
                                                                                   3. Operational Aspects and Competency Development
The Board of Commissioners is assisted by 3 (three) committees,                        (competency development and number of Committee
namely the Audit Committee, Remuneration and Nomination                                meetings held)
Committee, and Risk Monitoring Committee. The Board                                4. Dynamic Aspects (Other Duties in accordance with the Risk
of Commissioners periodically assesses the effectiveness                               Management Area).
of the performance of the Committees under the Board of
Commissioners. The assessment in question is based on the                          Party Carrying Out the Assessment
Minister of State-Owned Enterprises Regulation number PER-3/
MBU/03/2023 dated March 24, 2023 concerning Organs                                 Performance evaluation of Committees under the Board of
and Human Resources of State-Owned Enterprises and FSA                             Commissioners is carried out periodically using the self-assessment
Regulation number 17 of 2023 concerning the Implementation                         method and then submitted to the Board of Commissioners for
of Governance for Commercial Banks.                                                review and approval.


Criteria of Performance Assessment of the Board                                    Results of the Performance Assessment of the Committee
of Commissioners                                                                   Under the Board of Commissioners

Audit Committee performance assessment is based on specific,                       PERFORMANCE ACHIEVEMENTS OF THE AUDIT COMMITTEE
measurable, achievable and relevant benchmarks or assessment                       The Board of Commissioners considers that throughout 2023,
criteria contained in the main performance assessment indicators                   the Committees have carried out their duties and responsibilities
with the following aspects:                                                        quite effectively. The results of the performance assessment of
1. Regular Aspects.                                                                committees under the Board of Commissioners are as follows.


The Audit Committee assessment is evaluated based on the Key Performance Indicators working paper as follows:


                                                                                            Realization     Target                         Mark
                                                                               Weight (%)                               Achievement
                                                                                              Dec-23        Dec-23                          (%)
  No                     Key Performance Indicators
                                                                                   a             b             c           d=b/c           e=d×a

 I       Reguler                                                                   75                                                    76,25

         Providing recommendations for Approval of the Annual Audit
     1                                                                             10             1             1          100%           10,00
         Plan to the Board of Commissioners


         Monthly monitoring and evaluation of the implementation of
     2                                                                             10            12            12          100%           10,00
         Internal Audit duties and follow-up


     3   Attending the Internal General Audit Exit Meeting                          5             5             4          125%            6,25




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                                                                                          Realization   Target                   Mark
                                                                             Weight (%)                          Achievement
                                                                                            Dec-23      Dec-23                    (%)
 No                       Key Performance Indicators
                                                                                  a           b           c        d=b/c        e=d×a

          Monitoring and evaluation of the implementation of External
      4   Audits (OJK, BI, BPK, KAP, etc.) and follow-up on audit results,         5            4          4       100%          5,00
          including internal control

          Checking and evaluating the Quarterly Published Financial
      5                                                                            5            4          4       100%          5,00
          Reports

          Providing recommendations regarding the appointment of KAP
      6                                                                            5            1          1       100%          5,00
          to the Board of Commissioners


          Monitoring and Evaluation of the Implementation of Audit
      7                                                                            5            1          1       100%          5,00
          Services by KAP on Financial Information for the Fiscal Year


          Reviewing, evaluating, and providing input to the Board
      8   of Commissioners regarding monthly Performance Review                    5          12         12        100%          5,00
          material

          Preparing quarterly and annual reports regarding Audit
      9                                                                            5            4          4       100%          5,00
          Committee activities to the Board of Commissioners

          Preparing the Board of Commissioners' response to the
  10      Company's performance (quarterly) which is submitted to the              5            4          4       100%          5,00
          Minister of BUMN

          Preparing a Board of Commissioners Supervision Report on
  11                                                                               5            2          2       100%          5,00
          RBB Realization (Semesterly) to be submitted to the OJK

          Preparing semesterly GCG Self-Assessment Working Papers
  12                                                                               5            2          2       100%          5,00
          related to the Audit Committee

  13      Preparing Annual Reports related to the Audit Committee                  5            1          1       100%          5,00

 II       Non Reguler                                                            10                                             15,00

          Submitting recommendations to the Board of Commissioners
  14      to appoint an independent quality controller from an external            5            1          1       100%          5,00
          party to conduct a review of SKAI's performance

          Competency Development related to Duties and
  15                                                                               5            3          1       200%         10,00
          Responsibilities

 IV       Others                                                                 15                                             25,00

  16      Audit Committee Meeting                                                 10          35           6       200%         20,00

          Coordination Meeting of Board of Commissioners Committee
  17                                                                               5            4          4       100%          5,00
          Members

 Total                                                                           100                                           116,25




Performance Achievements of the Remuneration and Nomination Committee

Evaluation of the performance of the Remuneration and Nomination Committee is carried out periodically using the self-assessment
method and then reviewed and approved by the Board of Commissioners. Assessment is based on specific, measurable, achievable, and
relevant benchmarks or assessment criteria contained in the main performance assessment indicators contained in the main performance
assessment indicators with the following aspects:
1. Regular Aspects
2. Non-Regular Aspects
3. Monitoring Aspects of Implementation of Committee Recommendations
4. Special Task Aspects and others.




494            PT Bank Tabungan Negara (Persero) Tbk
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The Remuneration and Nomination Committee assessment is evaluated based on the Key Performance Indicators working paper as follows:


                                                                          Weight
 No.                              Productivity                                        Realization      Target      Achievement    Mark
                                                                           (%)

 I        Reguler                                                           55                                                    67.50

     1    Review of the 2023 Education Activity Plan                          5             0              1             50%       0.00

     2    Validation of Bank BTN’s BOD-1 Selected Talent Proposal             5             1              2             100%      2.50

          Recommendations and Assessment of Prospective BOC
     3    and BOD Members for the Fit & Proper Test related to the            5             2              2             100%      5.00
          implementation of the Annual or Extraordinary GMS

          Review of Company Work Plan & Budget (RKAP) and Bank
     4                                                                        5             1              1             100%      5.00
          Business Plan (RBB)

     5    Review of the Sustainable Financial Action Plan (RAKB)              5             1              1             100%      5.00

     6    Review of BOD Collegial and Individual KPIs                         5             2              1             200%     10.00

          Determination of the Income of the Directors, Board of
     7                                                                        5             2              1             200%     10.00
          Commissioners and Supervisory Board

          Determination of the amount of bonuses and bonuses and other
     8                                                                        5             2              1             200%     10.00
          related incentives for BOD and BOC

     9    Designing the Board of Commissioners’ Work Program                  5             1              1             100%      5.00

          Submitting a Self-Assessment Report on the Implementation of
     10                                                                       5             2              1             200%     10.00
          Bank Governance (GCG Self-Assessment)

     11   Remuneration and Nomination Committee Report                        5             4              4             100%      5.00

     II   Non Reguler                                                       20                                                    20.00

          Evaluation of Human Capital Policies / SOPs, Strategy and
     12                                                                       5             2              1             200%     10.00
          Learning

     13   Evaluation of Central Outsourcing Policy / SOP Implementation       5             0              1              0%       0.00

          Determination of Corporate Secretary Head and Internal Audit
     14                                                                       5             1              1             100%      5.00
          Head

          Determination of SEVP for several positions according to the
     15                                                                       5             2              2             100%      5.00
          latest organizational structure

          Supervision of the Implementation of Committee
 III                                                                        10                                                    11.67
          Recommendations

     16   Communicate with the Human Resources Work Unit                     10             7              6             117%     11.67

     IV   Special Duties and Others                                          15                                                  101.67

     17   Remuneration and Nomination Committee Meeting                      10            23              3             767%     76.67

          Other duties of the Chairman of the Committee/Board of
     18                                                                       5             5              1             500&     25.00
          Commissioners

 Total                                                                     100                                                   200.83




Performance Achievements of the Risk Monitoring Committee

Evaluation of the performance of the Risk Monitoring Committee is carried out periodically using the self-assessment method and then
reviewed and approved by the Board of Commissioners. Assessment is based on specific, measurable, achievable, and relevant
benchmarks or assessment criteria contained in the main performance assessment indicators with the following aspects:
1. Aspects of Fulfilling Duties and Responsibilities;
2. Planning and Reporting Aspects;
3. Operational Aspects and
4. Competency Development; and
5. Dynamic Aspect.




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The Risk Monitoring Committee’s assessment is evaluated based on the Key Performance Indicators working paper as follows:



                                                                  Weight (%)   Unit     Realization   Target    Achievement   Mark (%)
 No                  Key Performance Indicators

                                                                      a         b            c          d         e=c/d        f=d×a

          Aspect of Fulfillment of Duties and
 I                                                                     60                                                       67,5
          Responsibilities

      1   Reviewing the Risk Profile Report                            10       unit             5          4        125        12,5

          Delivering Reviews and Input regarding Risk Appetite
      2                                                                10       unit             2          2        100          10
          and Risk Tolerance

      3   Reviewing Bank’s Soundness Level Reports                        5     unit             3          1        200          10

          Reviewing the Company’s Work Plan & Budget
      4                                                                   5     unit             2          1        200          10
          (RKAP) and Bank Business Plan (RBB)

          Conducting a Review of the Sustainable Finance
      5                                                                   5     unit             1          1        100           5
          Action Plan (RAKB

      6   Conducting Recovery Plan Update Review                          5     unit             1          1        100           5

          Conducting Review of the Preparation of the
      7                                                                   5     unit             0          1          0           0
          Resolution Plan

          Reviewing the Risk Management Policy Guidelines
      8                                                                   5     unit             1          1        100           5
          (RMPG)

      9   Reviewing the Compliance Report                                 5     unit             4          4        100           5

          Submitting self-assessment report on the
     10                                                                   5     unit             2          2        100           5
          implementation of Bank Governance

 II       Aspects of Planning and Reporting                            15                                                        15

     11   Submitting Quarterly Activity Realization Report                5     unit             4          4        100           5

     12   Delivering the Annual Activity Realization Report               5     unit             1          1        100           5

          Delivering the Annual Work Program for the Next
     13                                                                   5     unit             1          1        100           5
          Fiscal Year

          Aspects of Operational and Competency
 III                                                                   15                                                      30,00
          Development

     14   Conducting Committee Meetings                                10       unit         52             6        200          20

          Attending Competency Development Related to
     15                                                                   5     unit             8          1        200          10
          Duties and Responsibilities

 IV       Dynamic Aspect                                               10                                                      11,11

          Carrying out other duties in accordance with the Risk
     16                                                                10           %       100          90       111,11       11,11
          Management Divisio

 Total                                                               100                                                      123,61




496            PT Bank Tabungan Negara (Persero) Tbk
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                                                                                            2023 Annual Report




Mechanism for the Resignations and Dismissal                         Nomination and Remuneration for the Board
of The Board of Commissioners                                        of Directors and Board of Commissioners

Members of the Board of Commissioners may at any time be             Nomination Procedures for the Board of Directors
dismissed by GMS if for the reasons concerned are proven to          and Board of Commissioners
have committed the following:
1. Unable to properly perform his/her responsibilities.              Board of Directors Nomination Procedure
2. Violating the provisions of the Articles of Association and/or
    laws and regulations.                                            The Policies and procedures for nomination of the Board of
3. Involved in actions that harm the Company and/or the State.       Directors has been regulated in the Good Corporate Governance
4. Committing any actions that violate ethics and/or performing      Guidelines which are enacted in the Board of Directors Regulation
    bad manners as members of the Board of Directors.                No. 11/PD/DIR/PPD/2018 as well as the Board of Directors’
5. Declared guilty by a court decision with permanent legal          Work Guidelines and Manual. The procedure for nomination of
    force.                                                           the Board of Directors is as follows:
6. Resigned.                                                         1. Members of the Board of Directors are appointed and
                                                                         dismissed by GMS.
The decision to dismiss a member of the Board of Commissioners       2. Selection of candidates for members of the Board of Directors
for the reasons mentioned above is taken after the person                is carried out through a transparent selection and nomination
concerned is given the opportunity to defend him/herself at the          process, considering the recommendations of the Board of
GMS. Members of the Board of Commissioners may also be                   Commissioners based on analysis from the Remuneration
dismissed based on other reasons deemed appropriate by GMS.              and Nomination Committee, considering expertise, integrity,
                                                                         honesty, leadership, experience, behavior and dedication, as
In the event of consanguineous relation up to the third degree,          well as the adequacy of time for the progress of the Company.
both lineal and collateral, and an affinity (in-laws) relationship   3. Candidates for members of the Board of Directors who are
between any member of the Board of Commissioners, GMS shall              internal officials of the Company may be proposed by the
have the authority to dismiss one of them.                               Commissioners through a review of the Remuneration and
                                                                         Nomination Committee.
A member of the Board of Commissioners may resign from his/          4. The appointment of members of the Board of Directors
her position before his/her term of office ends. In the event that       is carried out through a fit and proper test mechanism.
a member of the Board of Commissioners resigns, the resigning            Prospective members of the Board of Directors who pass
member must submit a written resignation request regarding               the test must sign a management contract before being
his/her purpose to the company. The Company must hold GMS                appointed as the Board of Directors.
to make a decision regarding the resignation request of such
member of the Board of Directors at most 90 (ninety) days after      Board of Commissioners Nomination Procedure
receiving the resignation letter.
                                                                     Procedure for the nomination of the Board of Commissioners has
The position of a Member of the Board of Directors shall be          been regulated in the Good Corporate Governance Guidelines
terminated if:                                                       which are stipulated in the Board of Directors Regulation No.
1. The resignation has been effective.                               11/PD/DIR/PPD/2018 as well as the Board of Commissioners’
2. The said person passes away.                                      Work Guidelines and Manual. The procedure for the nomination
3. The term of office ends.                                          of the Board of Commissioners, namely:
4. The said person is dismissed by GMS resolution.                   1. Members of the Board of Commissioners are appointed and
5. The said person is declared bankrupt by a Commercial                   dismissed by GMS.
    Court, which has permanent legal force, or is placed under       2. Selection of candidates for the Board of Commissioners is
    receivership under a court decision.                                  carried out through a selection process up to nomination in
6. The said person is no longer deemed qualified as a member              a transparent manner by considering the recommendations
    of the Board of Directors under the provisions of the Articles        of the Remuneration and Nomination Committee and
    of Association and laws and regulations, including as a               considering the personality of the candidates for the Board of
    holder of any restricted concurrent positions.                        Commissioners including integrity, honesty, professionalism,
                                                                          leadership, experience, loyalty and adequacy of time for the
                                                                          progress of the Company.




                                                                         PT Bank Tabungan Negara (Persero) Tbk                   497
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                                                            Corporate
                                                            Governance




Implementation and Remuneration Procedure for                               short and long-term liquidity needs and future income potential.
the Board of Directors and Board of Commissioners                           The scope of these policy aspects includes the objectives of
                                                                            implementing governance in the provision of remuneration,
Remuneration Policy of the Board of Commissioners                           variable remuneration, and material risk takers.
and Directors
                                                                            The Company determines the remuneration for the Board of
The preparation of the remuneration policy is inseparable from the          Commissioners and Directors referring to the provisions of
Company’s capabilities and is always based on a competitive,                the Minister of State-Owned Enterprises, namely the amount
fair and risk-based basis that is in line with the directions and           of income for the Board of Commissioners and Directors is
policies of the OJK. To keep remuneration competitive, the                  determined by the General Meeting of Shareholders (GMS).
Company always performs benchmarking through surveys                        The policy set forth by GMS is to grant authority and power to
conducted by independent parties.                                           the Series A Dwiwarna Shareholders to determine the amount
                                                                            of tantiem for the 2021 fiscal year, as well as to determine the
Procedure for Determining The Remuneration for The                          salary/honorarium, benefits, facilities and other incentives for
Board of Directors and Board of Commissioners                               the Board of Commissioners and the Board of Directors, and to
                                                                            grant authority and power to the Board of Commissioners by
The Company has issued the Board of Directors’ Circular Letter              first obtaining written approval from the Series A Dwiwarna
No.16/DIR/HCSD/2019 concerning the Implementation of                        shareholders to determine the amount of tantiem, salary/
Governance in Remuneration by considering aspects, including                honorarium, allowances, facilities and other incentives for the
the Company’s financial stability, creating risk management,                Board of Directors.




The procedures for determining the remuneration for the Board of Commissioners and the Board of Directors are as follows:




                                                    KRN coordinates with the Human Capital                KRN        prepares       recommendations
The Board of Commissioners assigned the
                                                    Division (HCD) and related work units to              for remuneration for the Board of
Remuneration and Nomination Committee
                                                    prepare remuneration proposals for the                Commissioners and Directors to be
(KRN) to conduct a remuneration review
                                                    Board of Commissioners and Directors                  submitted to the Board of Commissioners




                   1                                                  2                                                      3




                   6                                                  5                                                      4


The GMS gives authority and power to the
                                                   The Board of Commissioners submits the
Board of Commissioners to determine by                                                                    The Board of Commissioners discussed the
                                                   proposed remuneration for the Board of
first obtaining approval from the Series A                                                                remuneration proposal submitted by KRN
                                                   Commissioners and Directors to the GMS
Dwiwarna shareholders




The scope of the Company’s remuneration policy has been adjusted to OJK Regulation No. 5/POJK.03/2015 and OJK Circular Lette
No. 40/ SEOJK.03/2016 on the Implementation of Governance in Providing Remuneration for Commercial Banks, including:
1. The principle of prudence in remuneration is based on performance and risk.
2. Determination of Material Risk Taker (MRT) is categorized as follows:
    a. Material Risk Takers (MRT) can be determined using qualitative methods according to the portion of responsibility that affects the
       main risk profile which will be determined in accordance with the risk profile evaluation determined by the Company every year.
    b. Determination of the MRT category can also be conducted quantitatively through a comparison of variable remuneration between
       MRT and non-MRT employees with consideration of performance and also the risk level of the position in question.




498           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                               2023 Annual Report




3. The implementation of variable remuneration is in accordance             a. The President Director’s salary is determined using the
   with regulatory provisions regarding the application of                     internal guidelines set by the Minister.
   remuneration for commercial banks.                                       b. The Vice President Director’s salary is 95% of the
                                                                               President Director’s salary.
Indicators for Determining the Remuneration of the Board                    c. The salary of other members of the Board of Directors is
of Directors and Board of Commissioners                                        85% of the President Director’s salary.
                                                                            d. The Main Commissioner’s honorarium is 45% of the
The Company refers to the Regulation of the Minister of                        President Director’s salary.
StateOwned Enterprises Number PER-13/MBU/09/2021                            e. The honorarium for the Vice President Commissioner is
concerning the Sixth Amendment to the Regulation of the                        42.5% of the salary for the President Director.
Minister of StateOwned Enterprises No. PER-04/MBU/2014                      f. The honorarium for members of the Board of
on Guidelines for Determining the Income of Directors, Board of                Commissioners is 90% of the President Commissioner’s
Commissioners and Supervisory Body of State-Owned Enterprises                  salary.
in setting indicators for determining remuneration for the Board of
Commissioners and Directors. Salary/honorarium for members of           Structure and Amount of Nominal/Remuneration for
the Board of Directors and Board of Commissioners is determined         Each Director and Board of Commissioners
based on the following factors:
     1. Business scale factor                                           The remuneration structure showing the types and/or short-term,
     2. Business complexity factor                                      long-term and/or post-employment benefits is as follows:
     3. Inflation rate                                                  1. Types of short-term remuneration consist of: Honorarium,
     4. Company’s financial condition and capability                        Allowances (holidays, transportation), Facilities (health, legal
     5. Other factors that are relevant, and may not conflict with          aid) and Tantiem.
          laws and regulations                                          2. Types of long-term and/or post-employment remuneration
     6. The composition of the Salary/Honorarium of the                     consist of Post-Employment Insurance and can also be given
          Board of Directors and the Board of Commissioners is              long-term incentives (LTI) as well as Tantiem/work incentives,
          determined as follows:                                            on which bonuses can be given in addition to long-term
                                                                            rewards (long-term incentives/LTI).




The remuneration components of the Board of Commissioners and Directors are as follows:




                 FIXED PAY
                Gaji/Honorarium
                                             +               VARIABLE PAY
                                                                  Tantiem
                                                                                           +               VARIABLE PAY
                                                                                                           Long-Term Incentive




Based on Directors’ Circular No. 57/DIR/HCD/2016 concerning the Implementation of Governance in Providing Remuneration, the
remuneration components of the Board of Commissioners and Directors of Bank BTN are fixed and variable, namely:
1. Fixed remuneration is provided in the form of cash, which can be accompanied by non-cash payments.
2. Non-permanent remuneration is provided in the form of cash and shares or share-based instruments issued by the Company.


The remuneration and facilities received by each Board of Commissioners and Directors in 1 (one) year include the remuneration
structure and details of nominal amounts, as in the table below:




                                                                            PT Bank Tabungan Negara (Persero) Tbk                    499
Page 131
                                                                    Corporate
                                                                    Governance




                                                                               Fees                          Allowance

                                                                                                                     Retirement
  No             Name                      Position
                                                                 Salary/                              Holiday        Insurance
                                                                                      Tantiem
                                                               Honorarium                            Allowance         & BPJS
                                                                                                                     Insurance

                                     President
   1      Chandra Hamzah             Commissioner/                  √                    √               √                √
                                     Independent

                                     Vice President
   2      Iqbal Latanro              Commissioner/                  √                    √               √                √
                                     Independent

   3      Andin Hadiyanto            Commissioner                   √                    √               √                √

          Ahdi Jumhari               Independent
   4                                                                √                    √               √                √
          Luddin                     Commissioner**

                                     Independent
   5      Sentot A. Sentausa                                        √                    √               √                √
                                     Commissioner

                                     Independent
   6      Armand B. Arief                                           √                    √               √                √
                                     Commissioner

          Herry Trisaputra
   7                                 Commissioner                   √                    √               √                √
          Zuna

          Himawan Arief
   8                                 Commissioner                   √                    √               √                √
          Sugoto

   9      M. Yusuf Permana           Commissioner                   √                    −               √                √

  NUMBER OF BOARD OF COMMISSIONERS                            15.824.661.237      33.978.535.200    1.372.700.000   4.614.585.000



          Nixon L. P.
   1                                 President Director             √                    √               √                √
          Napitupulu

          Oni Febriarto              Vice President
   2                                                                √                    −               √                √
          Rahardjo                   Director

          Director of
   3                                 Direktur Consumer              √                    √               √                √
          Consumers

   4      Nofry Rony Poetra          Director of Finance            √                    √               √                √

                                     Director of Human
   5      Eko Waluyo                 Capital, Compliance            √                    √               √                √
                                     and Legal

          Elisabeth Novie            Director of Assets
   6                                                                √                    √               √                √
          Riswanti                   Management

                                     Director of IT &
   7      Andi Nirwoto                                              √                    √               √                √
                                     Digital

                                     Director of
   8      Jasmin                     Distribution and               √                    √               √                √
                                     Funding

                                     Director of Risk
   9      Setiyo Wibowo                                             √                    √               √                √
                                     Management

                                     Director of
   10     Hakim Putratama                                           √                    −               √                √
                                     Institutional Banking

               NUMBER OF DIRECTORS                            37.019.693.528      74.954.083.700    3.219.000.000   9.625.000.000

  NUMBER OF BOARD OF COMMISSIONERS
                                                              52.844.354.765      108.932.618.900   4.591.700.000   14.239.585.000
            AND DIRECTORS

*)Given to officials who do not occupy official residences.
**)Resigned from office on 12 August 2023 due to death.




500             PT Bank Tabungan Negara (Persero) Tbk
Page 132
                                                                         2023 Annual Report




                                        Other Facilities

                                                      Legal                                   PPh21 allowance
 Housing      Vehicle Facilities      Health                         Others (Natura
                                                    Assistance
Allowance*      (Rent&Fuel)          Facilities                        Facilities)
                                                     Facilities


     −                √                  √                  −               √                        √



     −                √                  √                  −               √                        √


     −                √                  √                  −               √                        √


     −                √                  √                  −               −                        √


     −                √                  √                  −               √                        √


     −                √                  √                  −               √                        √


     −                √                  √                  −               √                        √


     −                √                  √                  −               √                        √


     −                √                  √                  −               √                        √

               3.049.383.290       1.220.306.805            0          19.000.000              10.194.284.700




     −                √                  √                  −               √                        √


    √                 √                  √                  −               √                        √


     −                √                  √                  −               √                        √


    √                 √                  √                  −               √                        √


     −                √                  √                  −               √                        √



    √                 √                  √                  −               √                        √


     −                √                  √                  −               √                        √



     −                √                  √                  −               √                        √



     −                √                  √                  −               √                        √


    √                 √                  √                  −               √                        √


591.693.548    8.619.502.719       2.820.411.227            0         1.526.821.136            29.279.589.450


591.693.548   11.668.886.009       4.040.718.032            0         1.545.821.136            39.473.874.150




                                                           PT Bank Tabungan Negara (Persero) Tbk           501
Page 133
                                                            Corporate
                                                            Governance




Diversity Policy for the Board of Directors and Board of Commissioners

Diversity of Policy for the Board of Commissioners and Directors The diversity policy for the composition of the Company’s Board of
Commissioners and Directors is regulated in the Articles of Association and Board Manual which stipulate that the Board of Commissioners
and Directors are a combination of professionals who have the knowledge and experience required by the Company to enable an
effective decision-making process, efficient and immediate. In determining the members of the Board of Commissioners and Directors, the
Company always strives to ensure that the composition of the Board of Commissioners and Directors is diversein terms of competency,
gender and age (presence of young top talent).


The diversity of the composition adapts to the needs, level of complexity and the Company’s strategic plan so it is expected that the
development or resolution of a problem can be overlooked from various educational perspectives, competencies, and experience.


In accordance with the diversity policy set by the Ministry of State-Owned Enterprises, the target ratio of women in nominated talent is 18.5%
and the target ratio of young top talent (≤ 42 years) in nominated talent is 22.75%. Achieving the target in 2023 shows that the ratio of women
in nominated talent is 20.51% and the ratio of young top talent (≤ 42 years) in nominated talent is 30.38%. This achievement has increased
compared to the previous year. In the future, the Company will strive to be consistent in ensuring the diversity of the Board of Commissioners
and Directors, especially regarding gender and age diversity.


Diversity in the Composition of the Board of Directors

Diversity of The Board of Directors has considered gender diversity, namely the presence of 1 (one) woman, namely Ms. Elisabeth Novie
Riswanti as Director of Wholesale Risk and Asset Management. The following is the diversity of the composition of the Company’s
Directors based on age, gender, education, work experience and expertise can be seen in the table below.

Table of Diversity in the Composition of the Board of Directors
      Name                Position              Age                  Gender           Education         Work Experience        Expertise

                                                                                  Bachelor (S1)
                                                                                  Technology            Banking            Agricultural
 Haru
                     President Director   57 Years old        Male                Agriculture           field working      Technology
 Koesmahargyo*
                                                                                  Master (S2)           experience         Investment Banking
                                                                                  Investment Banking

                                                                                                        Banking
 Nixon L.P.                                                                       Bachelor (S1)
                     President Director   54 Years old        Male                                      field working      Economy
 Napitupulu**                                                                     Economics
                                                                                                        experience

                                                                                  Bachelor (S1)
                                                                                                        Banking
 Oni Febriarto       Vice President                                               Engineering
                                          52 Years old        Male                                      field working      Management
 Rahardjo***         Director                                                     Master (S2)
                                                                                                        experience
                                                                                  Management

                                                                                  Bachelor (S1)
                                                                                                        Banking
                     Director of IT and                                           Engineering                              Financial
 Andi Nirwoto                             53 Years old        Male                                      field working
                     Digital                                                      Master (S2) Master                       Engineering
                                                                                                        experience
                                                                                  of Finance

                                                                                                        Banking
 Elisabeth Novie     Director of Assets
                                          56 Years old        Female              Bachelor (S1) Law     field working      Legal
 Riswanti            Management
                                                                                                        experience

                                                                                  Bachelor (S1)
                     Director of                                                  Economics             Banking
                                                                                                                           Business
 Jasmin              Distribution and     59 Years old        Male                Masters (S2)          field working
                                                                                                                           Accounting
                     Funding                                                      International         experience
                                                                                  Business

                                                                                  Bachelor (S1)
                                                                                  in Electrical
                                                                                                        Banking
                     Director of Risk                                             Engineering                              Financial
 Setiyo Wibowo                            46 Years old        Male                                      field working
                     Management                                                   Master (S2) MBA                          Engineering
                                                                                                        experience
                                                                                  in Finance &
                                                                                  Banking

                                                                                                        Banking
                     Director of                                                  Bachelor (S1) Civil
 Hirwandi Gafar                           55 Years old        Male                                      field working      Civil Engineering
                     Consumers                                                    Engineering
                                                                                                        experience




502          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                                 2023 Annual Report




        Name                      Position                      Age                      Gender                  Education             Work Experience                  Expertise

                                                                                                             Bachelor (S1)
                                                                                                                                       Banking
                                                                                                             Economics
 Nofry Rony Poetra          Director of Finance        55 Years old               Male                                                 field working              Economy
                                                                                                             Master (S2) MBA
                                                                                                                                       experience
                                                                                                             Business

                            Director of                                                                      Bachelor (S1)
                                                                                                                                       Banking
                            Human Capital,                                                                   Economics                                            Economic
 Eko Waluyo                                            52 Years old               Male                                                 field working
                            Compliance and                                                                   Master (S2)                                          Management
                                                                                                                                       experience
                            Legal                                                                            Management

                                                                                                             Bachelor (S1)
                                                                                                             in International                                     International
                            Director of                                                                                                Banking
 Hakim                                                                                                       Relations                                            Relations Science
                            Institutional              47 Years old               Male                                                 field working
 Putratama****                                                                                               Master (S2) Master                                   International
                            Banking                                                                                                    experience
                                                                                                             of International                                     Business
                                                                                                             Business

*Resigned office on March 16 2023 based on the results of the 2023 Annual General Meeting of Shareholders (AGMS)
** Transfer of his original assignment as Vice President Director to become President Director since March 16, 2023 and received an effective statement from the OJK as of June 07,2023
***Started in office on March 16, 2023 and received an effective statement from the OJK as of June 07, 2023
**** Started serving on March 16 2023 and received an effective statement from the OJK on July 26 2023.




Diversity in the Composition of the Board of Commissioners

The diversity policy of the Board of Commissioners has not specifically regulated gender diversity. This is because the Company places
more emphasis on professionalism regardless of gender. The diversity of the composition of the Board of Commissioners based on age,
gender, education, work experience and expertise can be seen in the table below.

Table of Diversity in Composition of the Board of Commissioners
        Name                      Position                    Age                 Gender                 Education             Work Experience                      Expertise

                                                                                                                               Has work
                                                                                                                               experience at
                            President
 Chandra M.                                                                                                                    a Law Firm and             Law, Finance and People
                            Commissioner/              56 years old           Male                  Bachelor (S1) Law
 Hamzah                                                                                                                        the Corruption             Management
                            Independent
                                                                                                                               Eradication
                                                                                                                               Commission

                                                                                                    Bachelor (S1)              Has work
                            Vice President                                                          Economics                  experience in              Banking, Compliance,
 Iqbal Latanro              Commissioner/              65 years old           Male                  Master (S2)                Financial Services         Risk Management, and
                            Independent                                                             Business                   and Securities             People Management
                                                                                                    Management                 Rating Services

                                                                                                    •     Bachelor
                                                                                                                               Has work
                                                                                                          (S1) Business                                   Banking, Management,
                                                                                                                               experience in
                            Independent                                                                   Administration                                  Risk, Business
 Armand B. Arief                                       71 years old           Male                                             Financial Services
                            Commissioner                                                            •     Master (S2)                                     Management, and People
                                                                                                                               and Financial
                                                                                                          Business                                        Management
                                                                                                                               Regulators
                                                                                                          Administration

                                                                                                    •     Bachelor (S1)        Has work
                                                                                                          Economics            experience in
 Ahdi Jumhari               Independent                                                                                                                   Banking, Compliance,
                                                       69 years old           Male                  •     Master               Financial Services
 Luddin*                    Commissioner                                                                                                                  Risk Management
                                                                                                          (S2) Policy          and Financial
                                                                                                          Economics            Regulators

                                                                                                    •     Bachelor (S1)
                                                                                                          Statistics           Has work
                            Independent                                                                                                                   Banking, Compliance,
 Sentot A. Sentausa                                    66 years old           Male                  •     Master (S2)          experience in
                            Commissioner                                                                                                                  Risk Management
                                                                                                          Business             Financial Services
                                                                                                          Administration




                                                                                                        PT Bank Tabungan Negara (Persero) Tbk                                     503
Page 135
                                                                      Corporate
                                                                      Governance




       Name                   Position                Age               Gender                  Education          Work Experience                 Expertise

                                                                                                                   Has work
                                                                                            •   Bachelor (S1)      experience at the
                                                                                                Economics          Ministry of Finance
                                                                                            •   Master (S2)        of the Republic
                                                                                                International      of Indonesia,          Finance and Macro
 Andin Hadiyanto         Commissioner           58 years old        Male
                                                                                                Development        Ministry of Trade,     Economy
                                                                                            •   Doctor (S3)        World Bank Asian
                                                                                                International      Infrastructure
                                                                                                Development        Investment Bank
                                                                                                                   (AIIB) and AMRO

                                                                                            •   Bachelor
                                                                                                (S1) Civil
                                                                                                Engineering
                                                                                            •   Bachelor (S1)
                                                                                                                   Has work
                                                                                                Management
                                                                                                                   experience at the      Macro Economy,
 Herry Trisaputra                                                                           •   Masters (S2)
                         Commissioner           56 years old        Male                                           Ministry of Public     Management, Public
 Zuna                                                                                           Highway
                                                                                                                   Works and Public       Work and Housing
                                                                                                Systems and
                                                                                                                   Housing
                                                                                                Engineering
                                                                                            •   Doctorate
                                                                                                (S3) Civil
                                                                                                Engineering

                                                                                            •   Bachelor
                                                                                                (S1) in Civil      Have work
                                                                                                Engineering        experience in the      Management and
                                                                                            •   Master (S2)        Ministry Ministry      Business, Risk
 Himawan Arief
                         Commissioner           60 years old        Male                        in Civil           of Agrarian            Management, Finance,
 Sugoto
                                                                                                Engineering        Affairs and Spatial    Agrarian and Spatial
                                                                                            •   Doctorate (S3)     Planning/National      Planning
                                                                                                Management         Land Agency
                                                                                                and Business

                                                                                                                   Has work
                                                                                                                   experience in
 Mohamad Yusuf                                                                              Bachelor (S1)          the Ministry of
                         Commissioner           48 years old        Male                                                                  Economi
 Permana**                                                                                  Economics              State Secretariat
                                                                                                                   and state-owned
                                                                                                                   companies

* Termination of office due to death on August 12, 2023.
** Appointed based on the EGMS on January 11, 2023, and effective from June 7, 2023.




Transparency of Share Ownership of the Board of Directors and Board of Commissioners

Share Ownership of Members of the Board of Directors and the Board of Commissioners

The Board of Directors and Board of Commissioners have disclosed their and/or family’s share ownership which reaches 5% or more in
the Company or other companies domiciled inside and outside the country. For share ownership up to December 31, 2023, the Board
of Directors and the Board of Commissioners do not own shares with total ownership reaching 5% or more, both in the Company and
other companies.


Board of Directors Share Ownership of 5% or More


                                                                                                   Share Ownership (shares)
           Name                          Position
                                                                                                                 Financial institutions
                                                                 Bank BTN                  Other Banks                                           Other Companies
                                                                                                                      Non-Bank

 Haru Koesmahargyo*            President Director            -                         -                    -                                -

 Nixon L.P. Napitupulu**       President Director            -                         -                    -                                -

 Oni Febriarto
                               Vice President Director       -                         -                    -                                -
 Rahardjo***

 Andi Nirwoto                  Director of IT and Digital    -                         -                    -                                -




504            PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                                  2023 Annual Report




                                                                                                                   Share Ownership (shares)
            Name                              Position
                                                                                                                             Financial institutions
                                                                          Bank BTN                Other Banks                                                    Other Companies
                                                                                                                                  Non-Bank

                                    Director of Assets
 Elisabeth Novie Riswanti                                                        -                         -                               -                                 -
                                    Management

                                    Director of Distribution
 Jasmin                                                                          -                         -                               -                                 -
                                    and Funding

                                    Director of Risk
 Setiyo Wibowo                                                                   -                         -                               -                                 -
                                    Management

 Hirwandi Gafar                     Director of Consumers                        -                         -                               -                                 -

 Nofry Rony Poetra                  Director of Finance                          -                         -                               -                                 -

                                    Director of Human
 Eko Waluyo                         Capital, Compliance                          -                         -                               -                                 -
                                    and Legal

                                    Director of Institutional
 Hakim Putratama****                                                             -                         -                               -                                 -
                                    Banking

*Resigned office on March 16 2023 based on the results of the 2023 Annual General Meeting of Shareholders (AGMS).
** Transfer of his original assignment as Vice President Director to become President Director since March 16, 2023 and received an effective statement from the OJK as of June 7, 2023
***Started in office on March 16, 2023 and received an effective statement from the OJK as of June 07, 2023.
**** Started serving on March 16 2023 and received an effective statement from the OJK on July 26 2023.




Board of Commissioners Share Ownership of 5% or More


                                                                                                                   Share Ownership (shares)
           Name                               Position
                                                                                                                                Financial institutions
                                                                             Bank BTN                Other Banks                                                   Other Companies
                                                                                                                                     Non-Bank

                                 President Commissioner/
 Chandra M. Hamzah                                                                   -                         -                               -                                 -
                                 Independent

                                 Vice President
 Iqbal Latanro                                                                       -                         -                               -                                 -
                                 Commissioner/Independent

 Armand B. Arief                 Independent Commissioner                            -                         -                               -                                 -

 Ahdi Jumhari Luddin*            Independent Commissioner                            -                         -                               -                                 -

 Sentot A. Sentausa              Independent Commissioner                            -                         -                               -                                 -

 Andin Hadiyanto                 Commissioner                                        -                         -                               -                                 -

 Herry Trisaputra Zuna           Commissioner                                        -                         -                               -                                 -

 Himawan Arief Sugoto            Commissioner                                        -                         -                               -                                 -

 Mohamad               Yusuf
                                 Commissioner                                        -                         -                               -                                 -
 Permana**

**Termination of office due to death on August 12 2023.
**Appointed based on the EGMS on January 11, 2023, and effective from June 7 2023.




Share Ownership Transactions of the Board of Directors and the Board of Commissioners

Share ownership transactions for the Board of Directors and the Board of Commissioners, including submission of reports to Regulators
referring to the OJK Regulation Number 11/POJK.04/2017 Concerning Ownership Reports or Any Changes in Public Company
Share Ownership, Decree of the Directors of PT Bursa Efek Indonesia Number Kep-00066 /BEI/09-2022 Regarding Amendments to
Regulation Number I-E concerning Obligations for Submitting Information, and the Company’s Articles of Association. Members of the
Board of Directors and Board of Commissioners are required to submit information to the Company through the Corporate Secretary
regarding ownership and any changes in ownership of the Company’s shares no later than 3 (three) working days and submit it to the
OJK on their ownership and any changes in their ownership of Public Company shares, either directly or indirectly. The report must be
submitted no later than 10 (ten) days after the ownership or change in ownership of the shares of the Public Company.



                                                                                                        PT Bank Tabungan Negara (Persero) Tbk                                        505
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                                                          Corporate
                                                          Governance




The share ownership transactions of the Board of Directors and Board of Commissioners during 2023 are as follows.


                                             Number of Shares and Percentage of Share
                                                                                            Number
                              Transaction                  Ownership                                 Purchase Price    Ownership Transaction
No.    Name        Category
                                 date
                                                                                           of Shares
                                                                                                       per Share        status     Purpose
                                                                                           Purchased
                                              Before transaction       After transaction

                                                                                                     Fulfillment
                                                                                                     of OJK
                                                                                                     Regulation 45/
                                                                                                     POJK.03/2015                 Receipt of
                                                                                                     concerning                   Long Term
    Nixon L.P.                  July 13,
 1.            Directors                    3.236.500 4.250.500 1.014.000         1.310     Direct   Implementation      Direct   Incentives
    Napitupulu                   2023
                                                                                                     of Governance                in the form
                                                                                                     in Providing                 of shares
                                                                                                     Remuneration
                                                                                                     for Commercial
                                                                                                     Banks
                                                                                                     Fulfillment
                                                                                                     of OJK
                                                                                                     Regulation 45/
                                                                                                     POJK.03/2015                 Receipt of
                                                                                                     concerning                   Long Term
    Andi                        July 13,
 2.             Directors                   859.161    1.822.161   963.000        1.310     Direct   Implementation      Direct   Incentives
    Nirwoto                      2023
                                                                                                     of Governance                in the form
                                                                                                     in Providing                 of shares
                                                                                                     Remuneration
                                                                                                     for Commercial
                                                                                                     Banks
                                                                                                     Fulfillment
                                                                                                     of OJK
                                                                                                     Regulation 45/
                                                                                                     POJK.03/2015                 Receipt of
    Elisabeth                                                                                        concerning                   Long Term
                                July 13,
 3. Novie       Directors                   770.200    1.733.200   963.000        1.310     Direct   Implementation      Direct   Incentives
                                 2023
    Riswanti                                                                                         of Governance                in the form
                                                                                                     in Providing                 of shares
                                                                                                     Remuneration
                                                                                                     for Commercial
                                                                                                     Banks
                                                                                                     Fulfillment
                                                                                                     of OJK
                                                                                                     Regulation 45/
                                                                                                     POJK.03/2015                 Receipt of
                                                                                                     concerning                   Long Term
                                July 13,
 4. Jasmin      Directors                   1.885.030 2.848.030    963.000        1.310     Direct   Implementation      Direct   Incentives
                                 2023
                                                                                                     of Governance                in the form
                                                                                                     in Providing                 of shares
                                                                                                     Remuneration
                                                                                                     for Commercial
                                                                                                     Banks
                                                                                                     Fulfillment
                                                                                                     of OJK
                                                                                                     Regulation 45/
                                                                                                     POJK.03/2015                 Receipt of
                                                                                                     concerning                   Long Term
      Setiyo                    July 13,
 5.             Directors                   929.700    1.892.700   963.000        1.310     Direct   Implementation      Direct   Incentives
      Wibowo                     2023
                                                                                                     of Governance                in the form
                                                                                                     in 7. Providing              of shares
                                                                                                     Remuneration
                                                                                                     for Commercial
                                                                                                     Banks




506          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                 2023 Annual Report




                                                Number of Shares and Percentage of Share
                                                                                             Number
                                 Transaction                  Ownership                               Purchase Price   Ownership Transaction
No.   Name          Category
                                    date
                                                                                            of Shares
                                                                                                        per Share       status     Purpose
                                                                                            Purchased
                                                 Before transaction     After transaction

                                                                                                      Fulfillment
                                                                                                      of OJK
                                                                                                      Regulation 45/
                                                                                                      POJK.03/2015                Receipt of
                                                                                                      concerning                  Long Term
   Hirwandi                       July 13,
6.               Directors                     800.314    1.763.314   800.314      1.310     Direct   Implementation     Direct   Incentives
   Gafar                           2023
                                                                                                      of Governance               in the form
                                                                                                      in Providing                of shares
                                                                                                      Remuneration
                                                                                                      for Commercial
                                                                                                      Banks
                                                                                                      Fulfillment
                                                                                                      of OJK
                                                                                                      Regulation 45/
                                                                                                      POJK.03/2015                Receipt of
   Nofry                                                                                              concerning                  Long Term
                                  July 13,
7. Rony          Directors                     1.568.022 2.531.022    963.000      1.310     Direct   Implementation     Direct   Incentives
                                   2023
   Poetra                                                                                             of Governance               in the form
                                                                                                      in Providing                of shares
                                                                                                      Remuneration
                                                                                                      for Commercial
                                                                                                      Banks
                                                                                                      Fulfillment
                                                                                                      of OJK
                                                                                                      Regulation 45/
                                                                                                      POJK.03/2015                Receipt of
                                                                                                      concerning                  Long Term
   Eko                            July 13,
8.               Directors                     908.964    1.871.964   963.000      1.310     Direct   Implementation     Direct   Incentives
   Waluyo                          2023
                                                                                                      of Governance               in the form
                                                                                                      in Providing                of shares
                                                                                                      Remuneration
                                                                                                      for Commercial
                                                                                                      Banks
                                                                                                      Fulfillment
                                                                                                      of OJK
                                                                                                      Regulation 45/
                                                                                                      POJK.03/2015                Receipt of
   Himawan                                                                                            concerning                  Long Term
                 Board of         July 13,
9. Arief                                          0        404.600    404.600      1.310     Direct   Implementation     Direct   Incentives
                 Commissioners     2023
   Sugoto                                                                                             of Governance               in the form
                                                                                                      in Providing                of shares
                                                                                                      Remuneration
                                                                                                      for Commercial
                                                                                                      Banks
                                                                                                      Fulfillment
                                                                                                      of OJK
                                                                                                      Regulation 45/
                                                                                                      POJK.03/2015                Receipt of
    Herry                                                                                             concerning                  Long Term
                 Board of         July 13,
10. Trisaputra                                    0        404.600    404.600      1.310     Direct   Implementation     Direct   Incentives
                 Commissioners     2023
    Zuna                                                                                              of Governance               in the form
                                                                                                      in Providing                of shares
                                                                                                      Remuneration
                                                                                                      for Commercial
                                                                                                      Banks




                                                                              PT Bank Tabungan Negara (Persero) Tbk                   507
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                                                          Corporate
                                                          Governance




Organs and Committees Under the Board of Commissioners

Secretary of the Board of Commissioners

The secretary of the Board of Commissioners of the Company is appointed by the Board of Commissioners and is responsible to the
Board of Commissioners of the Company. The responsibilities of the Secretary of the Board of Commissioners include organizing the
administration, assisting the Board of Commissioners in performing the oversight function of the effective performance of the Company,
and ensuring that the Board of Commissioners has implemented the principles of GCG properly.


Duties and Responsibilities of the Board of Commissioners Secretary

The duties and responsibilities as Secretary of the Board of Commissioners following the regulation of the minister of SOEs are to conduct
activities to assist the Board of Commissioners in carrying out their duties in the form of:
1. Preparing for the meeting, including the briefing sheet of the Board of Commissioners;
2. Creating the Minutes of Meetings of the Board of Commissioners following the provisions of the Articles of Association;
3. Administering the documents of the Board of Commissioner, both incoming letters and exit letters, Minutes of Meetings, and other
    documents;
4. Drafting work plan and budget (RKAP) of the Board of Commissioners.
5. Drafting the reports of the Board of Commissioners.
6. Carrying out other duties of the Board of Commissioners.


Profile of Secretary of The Board of Commissioners

The brief profile of the Secretary of the Board of Commissioners of the Company is as follows.


                                                             Educational background
                                                             Bachelor of Accounting, University of Indonesia (2009)
                                                             Master of Accounting, Gadjah Mada University (2012)

                                                             Work experience
                                                             • Secretary to the Board of Commissioners of PT Pembangunan
                                                               Perumahan (Persero) Tbk (April 2016-July 2017);
                                                             • Secretary to the Board of Commissioners of PT Bank Negara Indonesia
                                                               (Persero) Tbk (July 2017–October 2019);
                                                             • Secretary of the Supervisory Board of Perum BULOG (November
                                                               2019 - October 2022)
                                                             • Young State Company Management at Assistant Deputy for TJSL,
                                                               Ministry of BUMN (November 2021 - September 2023)
FAHRUDIN                                                     • Management of Middle State Companies as Assistant Deputy for TJSL,
Secretary of the Board of Commissioners
                                                               Ministry of BUMN (October 2023 - present)
Indonesian citizen, 40 years old,                            • Secretary to the Board of Commissioners of PT Bank Tabungan
domiciled in Central Jakarta City.                             Negara (Persero) Tbk (November 2022 - present)

                                                             Period of Service
                                                             November 01, 2022 – October 31, 2025 (Period I)

                                                             Legal Basis for Appointment
                                                             Board of Commissioners Letters No. 06/KOM/BTN/2022 dated September 28,
                                                             2022

                                                             Concurrent Position
                                                             Management of Middle State Companies at the Assistant Deputy for TJSL,
                                                             Ministry of BUMN




508           PT Bank Tabungan Negara (Persero) Tbk
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Competency Development of the Board of Commissioner Secretary


   Training and Competency Development
                                                           Time and place Implementation                                  Organizer
              Types/Materials

                                                           May 12 -13, 2023 at Padma Hotel
 BTN Leadership Forum 2023                                                                                PwC and Korn Ferry
                                                           Semarang

 ESG Fundamentals                                          July 12 – 14, 2023 in Bandung                  CRMS Indonesia

 Carbon Trading Opportunities in Decarbonization Efforts   July 27, 2023 via Zoom Meeting                 OJK Institute

 Webinar on the Effectiveness of Digital Maturity
 Assessment in Measuring the Maturity of Banking Digital   August 28 – 28, 2023 via Zoom Meeting          FKDKP
 Transformation

                                                           September 15 - 16 2023 at Ayana Hotel
 Board of Commissioner Forum 2023                                                                         LPPI
                                                           Labuan Bajo, NTT

                                                           June 20, 2023 at Mandiri University,
 Result-Focused Project Design and Monitoring                                                             ADB & Mandiri University
                                                           Jakarta

 How To Manage Climate Related Risk in Banking Industry    June 22, 2023 via Zoom Meeting                 OJK Institute

 Managing for Development Results                          October 3, 2023 at PLN University, Jakarta     ADB & PLN University

 GRC Integrated Information for Supervisionary Board       October 5, 2023 via Zoom Meeting               BUMN University



Implementation of Duties of the Board of Commissioners                      Audit Committee
Secretary
                                                                            The Company establishes the Audit Committee in order to support
The Secretary of the Board of Commissioners shall carry out the             the Board of Commissioners in carrying out the supervisory
following duties:                                                           functions, including monitoring and evaluating the implementation
1. To carry out administrative activities within the secretariat of         of the internal control system, assessing the implementations of
     the Board of Commissioners.                                            activities and the audit results carried out by the Internal Audit
2. To Organize Board of Commissioners Meetings and                          Unit and external auditors, reviewing financial information to be
     meetings between the Board of Commissioners and                        issued by the Company, and reviewing the compliance with the
     Shareholders, Directors, and other stakeholders, including             provisions related to the Company’s activities.
     preparing meeting invitations, preparing meeting materials,
     and preparing minutes of meetings of the Board of                      Legal Basis for Establishing the Audit Committee
     Commissioners, including minutes of meetings between the
     Board of Commissioners and the Board of Directors.                     The establishment of the Audit Committee is based on the
3. To deliver the original minutes of the Board of Commissioners            following regulations:
     meeting to the Company.                                                1. Regulation of the Minister of State-Owned Enterprises Number
4. To draft the Work Plan and the Board of Commissioners’                        PER-2/MBU/03/2023 concerning Guidelines for Governance
     Budget (RKAP).                                                              and Significant Corporate Activities of State-Owned Enterprises.
5. To prepare the Board of Commissioners reports.                           2. Regulation of the Minister of State-Owned Enterprises Number
6. To ensure that the Board of Commissioners complies with                       PER-3/MBU/03/2023 concerning Organs and Human
     statutory regulations and applies the principles of good                    Resources of State-Owned Enterprises.
     corporate governance.                                                  3. Bank Indonesia Regulation Number 11/33/PBI/2009 dated
7. To provide the information required by the Board of                           December 7, 2009 concerning the Implementation of Good
     Commissioners periodically and/or at any time it is requested.              Corporate Governance for Sharia Commercial Banks and
8. To coordinate Committee members (if needed) to facilitate the                 Sharia Business Units.
     duty of the Board of Commissioners.                                    4. OJK Regulation No. 33/ POJK.04/2014 dated December 8,
9. Acting as a liaison officer for the Board of Commissioners                    2014, concerning the Board of Commissioners of Issuers of
     with other parties                                                          Public Companies.
10. Collecting data, reports and/or information relevant to the             5. OJK Regulation No. 55/ POJK.04/2015 dated December 23,
     implementation of the duties of the Board of Commissioners.                 2015, concerning the Establishment and the Guidelines for the
11. To perform other duties assigned by the Board of Commissioners               work of Implementation of the Audit Committee.
     regarding the duties and the functions of the Board of                 6. OJK Regulation No. 01/ POJK.03/2019 dated January
     Commissioners                                                               28, 2019, concerning the implementation of the Internal
                                                                                 Audit Function in Commercial Banks.




                                                                                 PT Bank Tabungan Negara (Persero) Tbk                   509
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                                                             Corporate
                                                             Governance




7. OJK Regulation No 39/ POJK.03/2019 dated December 19,                     10. Ensuring that the Internal Audit Work Unit upholds
    2019, concerning the implementation of Anti-Fraud Strategies                 integrity in carrying out its duties.
    for Commercial Banks.                                                    11. Reviewing the implementation of audits by internal
8. OJK Regulation Number 9 of 2023 concerning the Use of Public                  auditors and supervising the implementation of follow-up
    Accounting Services and Public Accounting Firms in Financial                 actions by the Board of Directors regarding the findings
    Services Activities.                                                         of internal and external auditors.
9. OJK Regulation Number 17 of 2023 concerning                               12. Providing recommendations to the Board of Commissioners
    Implementation of Governance for Commercial Banks.                           regarding the issuance of the Internal Audit Charter.
10. OJK Circular Letter Number 35/SEOJK.03/2017 concerning                   13. Providing recommendations to the Board of
    Standard Guidelines for Internal Control Systems for Commercial              Commissioners regarding the appointment of an
    Banks.                                                                       independent quality controller from an external party to
11. The Company’s Articles of Association as stated in the Deed                  conduct a review of SKAI’s performance.
    of Decree of the Annual GMS of PT Bank Tabungan Negara                   14. Carrying out monitoring and evaluation used to provide
    (Persero) Tbk Number 28 dated March 28, 2023.                                recommendations kepada Dewan Komisaris paling
12. Decree of the Board of Commissioners Number 05/KOM/                          sedikit terhadap:
    BTN/2023 dated December 13, 2023 concerning Guidelines                       • Implementation of the duties of the internal audit
    and Work Rules for the Board of Commissioners of PT Bank                          work unit.
    Tabungan Negara (Persero) Tbk.                                               • Conformity of financial reports with financial
                                                                                      accounting standards.
Duties and Responsibilities of the Audit Committee                               • Implementation of follow-up actions by the Board of
                                                                                      Directors regarding the findings of the Bank’s internal
In carrying out its functions, the Audit Committee shall perform                      audit work unit, external auditors, results of supervision
the following duties and responsibilities:                                            by the Financial Services Authority, and/or results of
A. Internal and External Audit                                                        supervision by other authorities and institutions.
     1. Assisting the Board of Commissioners to ensure the                B. Financial Reporting
         effectiveness of the internal control system;                       1. Carrying out the procurement process for prospective
     2. Monitoring, reviewing, and assessing the effectiveness of                public accounting firms in accordance with the provisions
         the implementation of Internal Audit and External Audit,                for procurement of bank goods and services, and if
         including WBS management.                                               necessary, request assistance from the Board of Directors
     3. Providing recommendations to the Board of                                in the procurement process.
         Commissioners regarding: appointment and removal of                 2. Providing recommendations to the Board of
         the Head of the Internal Audit Work Unit, and provision                 Commissioners       regarding      the     appointment       of
         of annual remuneration for the Internal Audit Work Unit                 Accountants/Public Accountants/Public Accounting
         as a whole as well as performance awards.                               Firms based on independence, scope of assignment and
     4. Monitoring and evaluating audit planning, audit                          compensation for services.
         implementation and follow-up monitoring of audit results,           3. Evaluating the implementation of audit services for
         to assess the adequacy of internal control including the                annual financial information carried out by Accountants/
         adequacy of the financial reporting process in accordance               Public Accountants/Public Accounting Firms.
         with the provisions of laws and regulations, the articles of        4. Monitoring and reviewing the financial reporting process
         association and/or GMS/Ministerial decisions.                           audited by the External Auditor.
     5. Providing recommendations to the Board of                            5. Ensuring the credibility and objectivity of the Bank’s
         Commissioners regarding the preparation of the audit                    financial reports to be issued to external parties and
         plan, scope and budget of the Internal Audit Work Unit.                 supervisory bodies, including following up on complaints
     6. Ensuring that the Internal Audit Work Unit communicates                  and/or notes of irregularities in the report during the
         with the Board of Directors, Board of Commissioners,                    Audit Committee review period.
         Sharia Business Unit Supervisory Board, External Auditor            6. Carrying out monitoring and evaluation used to provide
         and Financial Services Authority.                                       recommendations to the Board of Commissioners
     7. Reviewing and evaluating internal auditor reports                        regarding the conformity of financial reports with
         periodically, recommending and ensuring that the Board                  financial accounting standards.
         of Directors takes corrective action to overcome control            7. Reviewing financial information that will be issued by the
         weaknesses, fraud, compliance issues with policies and                  bank to the public and/or authorities, including financial
         laws and regulations or other problems identified and                   reports, projections and other reports related to the
         reported by the Internal Audit Work Unit.                               bank’s financial information.
     8. Evaluating the performance of the Internal Audit Work Unit.          8. Providing an independent opinion in the event of a
     9. Ensuring the objectivity and independence of internal                    difference of opinion between management and the
         auditors and external auditors.                                         Accountant regarding the services provided.
                                                                             9. Reviewing complaints related to the bank’s accounting
                                                                                 and financial reporting processes.

510          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                  2023 Annual Report




C. Others                                                                   9. Maintaining the confidentiality of documents, data and
   1. Providing evaluations/recommendations to the Board                        bank information.
      of Commissioners regarding the appointment, re-                       10. Carrying out other duties of the Board of Commissioners
      appointment and removal of Rating Companies to carry                      in accordance with the Audit Committee’s field of duties.
      out Sound Level Assessments (Company Ratings) based
      on independence, scope of assignment and service fees.           Audit Committee Charter
   2. Providing recommendations regarding improvements to
      the management control system and its implementation.            The Audit Committee holds an Audit Committee Charter based
   3. Ensuring that there are satisfactory evaluation procedures       on the Board of Commissioners’ Decision of Bank BTN number
      for all information issued by the bank.                          06/KOM/BTN/2023 dated December 13, 2023, regarding
   4. Identifying matters that require the attention of the Board      Guidelines and Procedures for the Work of the Audit Committee
      of Commissioners as well as other duties of the Board of         of PT Bank Tabungan Negara (Persero) Tbk. The Guidelines
      Commissioners.                                                   and Procedures for the Work or the Audit Committee Charter
   5. Carrying out tasks related to risk management as                 serve as a reference for the Audit Committee in carrying out its
      regulated in statutory regulations.                              duties effectively. The Audit Committee Charter is created with
   6. Carrying out other authorities, duties and responsibilities      the aim of being the basis and guidance for the Audit Committee
      related to its functions.                                        in carrying out its duties, including monitoring and evaluating
   7. Reviewing compliance with laws and regulations relating          the implementation of the internal control system, assessing the
      to bank activities.                                              implementation of audit results carried out by the Internal Audit
   8. Reviewing and providing advice to the Board of                   Unit and external Auditors, reviewing financial information to
      Commissioners regarding potential conflicts of interest of       be issued by the Company, and reviewing the compliance with
      the bank.                                                        regulations relating to the Company’s activities.


The contents of the Audit Committee Guidelines and Work Rules (Charter) include, among others:
                                                                     Article 1       General Provisions
                         General Provisions, the Purpose of
        Chapter I                                                                    Definition, Purpose, and Objectives of the Guidelines
                         Establishing the Audit Committee Charter    Article 2
                                                                                     and Procedures for the Work of the Audit Committee.

                         Duties, Responsibilities, and Authorities   Article 3       Audit Committee Responsibilities and Authorities
       Chapter II
                         of the Audit Committee                      Article 4       Audit Committee Obligations
                                                                                     Procedures and Working Methods of the Audit
                                                                     Article 5
                                                                                     Committee
                         Working Procedures, Information Access      Article 6       Access to and Confidentiality of Information
       Chapter III       and Confidentiality, Composition,
                         Structure, and Membership Requirements                      Structure, Appointment, and Termination of the Audit
                                                                     Article 7
                                                                                     Committee
                                                                     Article 8       Membership Requirements of the Audit Committee
                                                                     Article 9       Audit Committee Meetings
                                                                     Article 10      Audit Committee Reporting
                         Meeting, Reporting, Work Plan, Budget,
       Chapter IV        Income, and Audit Committee Service         Article 11      Work Plan and Budget of the Audit Committee
                         Period
                                                                     Article 12      Compensation for Audit Committee Members
                                                                     Article 13      Term of Office
                                                                                     Enhancement of Professionalism for Audit Committee
                                                                     Article 14
                          Education, Support Personnel, and                          Members and the Use of Support Staff
       Chapter V
                          Complaints Handling                                        Handling Complaints or Reports of Alleged Violations
                                                                     Article 15
                                                                                     Related to Financial Reports
                                                                     Article 16      Evaluation
       Chapter VI         Evaluation and closing
                                                                     Article 17      Conclusion



Authorities of the Audit Committee

The Audit Committee is granted authority by the Board of Commissioners to:
1. Access Bank documents, data, and information regarding the Bank’s employees, funds, assets, and required resources.
2. Communicate directly with employees including the Board of Directors and those who carry out the internal audit, risk management,
    and accountants regarding the responsibilities of the Audit Committee.
3. Involve independent parties outside the members of the Audit Committee who are needed to assist them in carrying out their duties
    (if needed).
4. Do other authorities assigned by the Board of Commissioners.



                                                                            PT Bank Tabungan Negara (Persero) Tbk                           511
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                                                                        Corporate
                                                                        Governance




Term of Office of the Audit Committee

The term of office for the Audit Committee members who are not members of the Board of Commissioners is no more than (3) three
years and may be extended for 1 (one) or 2 (two) more years of service, without prejudice to the right of the Board of Commissioners
to dismiss them at any time.


Structure, Membership, and Expertise of the Audit Committee

The Audit Committee is established by the Board of Commissioners, consisting of a chairperson and members, all of whom must be entirely independent.
The committee comprises a minimum of 3 (three) members, including Independent Commissioners from both within and outside the Company. The
membership of the Audit Committee must include at least 1 (one) Independent Commissioner who also serves as the Chair, 1 (one) Independent Party
with expertise in finance/accounting, and 1 (one) Independent Party with expertise in legal/banking matters. This composition ensures a diverse and
qualified team overseeing financial governance and compliance matters.


The chairman and members of the Audit Committee are appointed and dismissed by the Board of Commissioners. The Chairman of the Audit
Committee is an Independent Commissioner. Audit Committee members may come from members of the Board of Commissioners or outside
the Company.


The structure, membership, and expertise of the Audit Committee are listed in the table below.

Table of Audit Committee Structure, Membership, and Expertise
      Name                Position                      Expertise                             Information                          Dasar Pengangkatan

                                          Banking, Risk Management                                                       Decision of the Board of Commissioners
                                                                                     Vice President Commissioner/
 Iqbal Latanro        Chairman            Compliance and People                                                          Number 01/KOM/BTN/2021 dated
                                                                                     Independent
                                          Management                                                                     March 24, 2021.

                                                                                                                         Decision of the Board of Commissioners
 Ahdi Jumhari                             Banking, Compliance and Risk
                      Member                                                         Independent Commissioner            Number 03/KOM/BTN/I/2020 dated
 Luddin1                                  Management
                                                                                                                         January 8, 2020.

                                          Banking, Compliance, Risk                                                      Decision of the Board of Commissioners
 Sentot A.
                      Member              Management and Business                    Independent Commissioner            Number 03/KOM/BTN/2022 dated
 Sentausa
                                          Administration                                                                 March 17, 2022.

                                          Banking, Compliance, Risk                                                      Decision of the Board of Commissioners
 Andin
                      Member              Management and Business                    Commissioner                        03/KOM/BTN/I/2020 dated January
 Hadiyanto
                                          Administration                                                                 8, 2020.

                                                                                                                         Directors Decree Number 271/DIR/2021
 Adi Prakoso2         Member              Auditing, Banking and Accounting           Independent Party
                                                                                                                         dated March 15, 2021

 Peter Eko Budi                           Audit, Banking, Sharia Banking                                                 Directors Decree Number 1088/
                      Member                                                         Independent Party
 Darwito                                  and Finance                                                                    DIR/2022 dated November 9, 2022.

 Endang A.                                Audit, Banking, Sharia Banking                                                 Directors Decree Directors Number 167/
                      Member                                                         Independent Party
 Suprijatna3                              and Accounting                                                                 DIR/2023 dated March 8, 2023.

1) Appointed as a member of the Audit Committee on January 8, 2020, effective from March 16, 2020. The term of office as an Audit Committee member ended automatically due
   to the unfortunate demise on August 12, 2023.
2) Appointed as a member of the Audit Committee on March 13, 2018, serving until March 12, 2023.
3) Appointed as a member of the Audit Committee on March 13, 2023, serving until March 12, 2026.




512            PT Bank Tabungan Negara (Persero) Tbk
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Profile of the Audit Committee

The profile of the Audit Committee as of December 31, 2023, is as follows

                         His profile can be found in the Board of                                        His profile can be found in the Board of
   IQBAL LATANRO         Commissioners Profile section.                         ANDIN HADIYANTO          Commissioners Profile section.
   Chairman of the       His term of office as Chairman and member of           Member of the Audit      His term of office as a member of the Audit
   Audit Committee       the Audit Committee is from March 24, 2021 -              Committee             Committee is from November 27, 2019 -
                         March 23, 2026                                                                  November 26, 2024




                              His profile can be found in the Board of
  SENTOT A. SENTAUSA          Commissioners Profile section.
   Member of the Audit        His term of office as a member of the
      Committee               Audit Committee is from March 02, 2022
                              - March 16, 2027




                                                                   Educational background
                                                                   • Magister of Agribusiness, Department of Master of Management, IPB
                                                                     Bogor in (2000)
                                                                   • Bachelor of Agriculture, Department of Agricultural Cultivation, Sebelas
                                                                     Maret University Surakarta

                                                                   Work experience
                                                                   • Inspector/Head of Internal Audit for the BRI Jayapura Region (2018 -
                                                                     July 2019)
                                                                   • Deputy Head of BRI Special Branch Offices (2015 - 2018)
                                                                   • Group Head/Head of Credit for BRI Special Branch Offices (2009 - 2014)
                                                                   • Group Head/Head of Credit Program for BRI Head Office (2005 - 2008).
                                                                   • Senior Account Officer of BRI Head Office Commercial Credit Business
                                                                     (1999 - 2005).
PETER EKO BUDI DARWITO
                                                                   • Account Officer - Assistant Manager of Agricultural Business Credit,
Member of the Audit Committee
                                                                     Commercial Credit & Corporate Credit BRI Special Branch Offices
Indonesian citizen, 59 years old,                                    (1990 - 1998))
domiciled in Tangerang, Banten.
                                                                   Period and Term of Office
                                                                   The first period and term of office commences from November 19, 2019 until
                                                                   November 18, 2022
                                                                   The second period and term of office commences from November 19, 2022 until
                                                                   November 18, 2024


                                                                   Legal Basis for Appointment
                                                                   Decree of the Board of Directors of PT Bank Tabungan Negara (Persero) Tbk No.
                                                                   1088/ DIR/2022 dated November 09, 2022


                                                                   Concurrent Position
                                                                   No concurrent position

                                                                   Certification
                                                                   • Certification in Audit Committee Practices (CACP) from IKAI
                                                                   • Certificate of Risk management level 3 from LSPI BARA




                                                                                   PT Bank Tabungan Negara (Persero) Tbk                       513
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                                                Corporate
                                                Governance




                                                      Educational background
                                                      Educational background

                                                      Work experience
                                                      •   Regional Business Control Head (Head of Internal Audit) PT Bank
                                                          Mandiri (Persero) Tbk Region VI West Java, Region VIII East Java and
                                                          Region V South Jakarta including Bogor (2015-January 2023)
                                                      •   Consumer Loans Business Center Manager Makassar, Palu, Kendari,
                                                          Ambon, Samarinda & Bontang Region, Lampung Region (November
                                                          2009-2014)
                                                      •   Small, Micro & Consumer Credit Audit Team Leader PT Bank Mandiri
                                                          (Persero) Tbk (2006 – October 2009)
                                                      •   Team Leader Audit Distribution (Branch) PT Bank Mandiri (Persero)
ENDANG A. SUPRIJATNA                                      Tbk (2005)
Member of the Audit Committee                         •   Wholesale Banking Credit Audit Team Leader PT Bank Mandiri
Indonesian citizen, 56 years old,                         (Persero) Tbk (August 2001 - 2004)
domiciled in Bekasi, Jawa Barat.                      •   Senior Auditor General Audit PT Bank Mandiri (Persero) Tbk (July
                                                          1999-2001)
                                                      •   Auditor of PT Bank Export Import Indonesia (Persero) (December 1993-
                                                          1999)

                                                      Period and Term of Office
                                                      The first term of office is March 13, 2023 - March 12, 2024

                                                      Legal Basis for Appointment
                                                      Decree of the Board of Directors of PT Bank Tabungan Negara (Persero)
                                                      Tbk. Number 167/DIR/2023 dated March 8, 2023 concerning the
                                                      Determination of Mr. Endang A. Suprijatna as Member of the Audit
                                                      Committee.

                                                      Concurrent Position
                                                      No concurrent position

                                                      Certification
                                                      •   Certification in Audit Committee Practices (CACP) from IKAI
                                                      •   Qualified Internal Auditor from the Qualified Internal Auditor
                                                          Certification Board
                                                      •   Competency Certification as an Audit Supervisor from the Banking
                                                          Professional Certification Institute (LSPP)
                                                      •   Level 3 Risk Management Certification from the Banking Professional
                                                          Certification Institute (LSPP)




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                                                                                 2023 Annual Report




The Independency of the Audit Committee

Table of the Audit Committee Independency

                                              Ahdi                                                Peter
                                   Iqbal              Sentot A.        Andin                               Endang A.
     Independence Aspect                    Jumhari                              Adi Prakoso    Eko Budi
                                  Latanro             Sentausa       Hadiyanto                             Suprijatna
                                             Luddin                                             Darwito

 Having no financial
 relationship with the
 members of the Board of            √         √          √              √            √                √        √
 Commissioners and the Board
 of Directors
 Having no managerial
 relationship at the company,
                                    √         √          √              √            √                √        √
 its subsidiaries, and its
 affiliates
 Having no share ownership
                                    √         √          √              √            √                √        √
 relationship in the Company
 Having no familial
 relationship with the Board
 of Commissioners, Board
                                    √         √          √              √            √                √        √
 of Directors, and/or fellow
 members of the Audit
 Committee
 Not serving as a member of a
 political party management or      √         √          √              √            √                √        √
 a government official




                                                                  PT Bank Tabungan Negara (Persero) Tbk            515
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                                                                         Governance




Training and/or Competency Development of The Audit Committee In 2023


                                                       Type of Training and Competency Development/
         Name                    Position                                                                                   Time and place               Organizer
                                                                       Training Material
                                                   Education and/or Competence Enhancement are reflected in the Education and/or Competence
 Implementation             Chairman
                                                   Enhancement section of the Board of Commissioners.

                                                   Education and/or Competence Enhancement are reflected in the Education and/or Competence
 Ahdi Jumhari Luddin1       Member
                                                   Enhancement section of the Board of Commissioners.

                                                   Education and/or Competence Enhancement are reflected in the Education and/or Competence
 Sentot A. Sentausa         Member
                                                   Enhancement section of the Board of Commissioners.

                                                   Education and/or Competence Enhancement are reflected in the Education and/or Competence
 Andin Hadiyanto            Member
                                                   Enhancement section of the Board of Commissioners.

 Adi Prakoso2               Member                 -                                                                    -                         -
                                                   Seminar Seminar Nasional Internal Audit : Trusted Advisor
                                                                                                                        December 6-7,
                                                   Navigating The New Fronting, Connecting Between                                                YPIA
                                                                                                                        2023 Bali
                                                   Information Technology and Business Strategy
                                                   How to Drive Corporate Performance Through Accounting                Webinar Jakarta
                                                                                                                                                  OJK Institute
                                                   Practices                                                            November 9, 2023
                                                   Seminar The7th Indonesia Risk Management Outlook                     Jakarta October 27,
                                                                                                                                                  LPPI
                                                   2024 (IRMO 2024)                                                     2024
                                                   CG Methodology and Environmental and Social                          Webinar Jakarta           BUMN School of
                                                   Management System                                                    October 25, 2023          Excellence
                                                                                                                                                  Pusat Ekonomi &
                                                                                                                        Jakarta
                                                   Workshop Islamic Banking For Executive                                                         Bisnis Syariah FEB UI
                                                                                                                        October 19, 2023
                                                                                                                                                  & BTN
                                                                                                                        Webinar Jakarta           BUMN School of
 Peter Eko Budi                                    ESG for Boards – Governance for ESG
                            Member                                                                                      September 27, 2023        Excellence
 Darwito
                                                                                                                        September 15 - 16,
                                                                                                                        2023 at Ayana
                                                   Board of Commissioner Forum 2023                                     Hotel Waecicu             LPPI
                                                                                                                        Beach, Labuan
                                                                                                                        Bajo, NTT
                                                                                                                        Webinar Jakarta
                                                   Enhancing Financial Performance Through Data Analytics                                         OJK Institute
                                                                                                                        August 31, 2023
                                                   BRMI – GRC Master Class – Pemeringkat & Penerbitan                   Webinar Jakarta           BUMN Leadership
                                                   Efek Bersifat Utang & Sukuk (EBUS)                                   August 10, 2023           Management Institute
                                                                                                                        Yogyakarta
                                                   Spesial Directorship Program                                                                   IICD
                                                                                                                        July 26 - 27, 2023
                                                                                                                        Webinar Jakarta
                                                   How to Manage Climate Related Risk in Banking Industry                                         OJK Institute
                                                                                                                        June 22, 2023
                                                   Seminar National Internal Audit Seminar: Trusted Advisor             December 6 - 7,
                                                   Navigating The New Fronting, Connecting Between                      2023                      YPIA
                                                   Information Technology and Business Strategy                         Bali
                                                   2023 National Audit Committee Conference to Oversee
                                                   the Company's Sustainability and Growth Through                      October 19, 2023          IKAI
                                                   Supervision and Risk Control
 Endang A.
                            Member                                                                                      September 15 - 16,
 Suprijatna3
                                                                                                                        2023 at Ayana
                                                   Board of Commissioner Forum 2023                                     Hotel Waecicu             LPPI
                                                                                                                        Beach, Labuan
                                                                                                                        Bajo, NTT
                                                   Certification in Audit Committee Practices Review Course
                                                                                                                        July 25-27, 2023          IKAI
                                                   Batch XXXI

1) Appointed as a member of the Audit Committee on January 8, 2020, effective from March 16, 2020. The term of office as a member of the Audit Committee ended automatically
   due to demise on August 12, 2023.
2) Appointed as a member of the Audit Committee on March 13, 2018, until March 12, 2023.
3) Appointed as a member of the Audit Committee on March 13, 2023, until March 12, 2026..




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The Audit Committee’s Meeting

1. The Audit Committee holds a meeting at least equal to the                7. Every meeting shall be included in the Minutes of Meeting
   minimum provisions of the Board of Commissioners meeting                     and is signed by all members present at the meeting, and
   determined by the Articles of Association.                                   shall be well-documented.
2. The Audit Committee meeting can be held if attended by                   8. The minutes as mentioned above shall be submitted in writing
   at least 51% (fifty-one percent) of the total number of Audit                by the Audit Committee to the Board of Commissioners.
   Committee members, and shall include an Independent                      9. Dissenting opinion that occurs in the Audit Committee
   Commissioner and an Independent Party.                                       meeting must be included in the Minutes of Meeting clearly,
3. If there is a conflict of interest between the audit members                 along with the reasons for disagreements.
   about the discussion object, the committee has to declare that           10. If an audit committee is unable to attend the meeting
   there is a conflict of interest and he/she does not have the                 physically, he/she can attend the meeting by using proxies:
   right to vote in the decision making.                                        a. Power of attorney or other means that are permitted in
4. The meeting is chaired by the Head of Audit Committee or by                       accordance with the procedures and provisions of the
   the most senior member when the Head of Audit Committee                           law or;
   is unable to attend.                                                         b. Electronic media such as teleconferences.
5. Meeting decisions are taken based on consensus deliberation.             11. The attendance of the Audit Committee members is reported
6. If consensus deliberation is not reached, the decisions are                  in the quarterly report and the annual report of the Audit
   taken based on the majority vote.                                            Committee.




THE AUDIT COMMITTEE MEETING AGENDA
Throughout 2023, the date, meeting agenda, and Audit Committee meeting participants were recorded as follows.


 No.               Date                                         Agenda                                                  Participants

                                                                                                          • Iqbal Latanro
                                                                                                          • Ahdi Jumhari Luddin
                                                                                                          • Andin Hadiyanto
  1.    January 9, 2023              Monitoring the Development of Accrued Interest
                                                                                                          • Sentot A. Sentausa
                                                                                                          • Adi Prakoso
                                                                                                          • Peter Eko Budi Darwito

                                                                                                          • Iqbal Latanro
                                                                                                          • Ahdi Jumhari Luddin
                                     Procurement of Independent Quality Control Consultant Services
                                                                                                          • Andin Hadiyanto
  2.    January 9, 2023              from External Parties to Review the Performance of the Internal
                                                                                                          • Sentot A. Sentausa
                                     Audit Division
                                                                                                          • Adi Prakoso
                                                                                                          • Peter Eko Budi Darwito

                                                                                                          • Iqbal Latanro
                                     Concept Approval of the Internal Audit Charter, Request for          • Ahdi Jumhari Luddin
                                     Borrower Data, Evaluation of the Audit Firm (KAP) for the Audit      • Andin Hadiyanto
  3.    January 16, 2023
                                     as of June 30, 2022, and Follow-up on the Recommendations            • Sentot A. Sentausa
                                     of BPK RI                                                            • Adi Prakoso
                                                                                                          • Peter Eko Budi Darwito

                                                                                                          • Iqbal Latanro
                                                                                                          • Ahdi Jumhari Luddin
                                     Audit Committee Recommendations in the Appointment of KAP            • Andin Hadiyanto
  4.    January 25, 2023
                                     for the Fiscal Year 2023                                             • Sentot A. Sentausa
                                                                                                          • Adi Prakoso
                                                                                                          • Peter Eko Budi Darwito

                                                                                                          • Iqbal Latanro
                                                                                                          • Ahdi Jumhari Luddin
                                                                                                          • Andin Hadiyanto
  5.    February 06, 2023            Approval of the Annual Audit Plan for 2023
                                                                                                          • Sentot A. Sentausa
                                                                                                          • Adi Prakoso
                                                                                                          • Peter Eko Budi Darwito

                                                                                                          • Iqbal Latanro
                                                                                                          • Ahdi Jumhari Luddin
                                     Closing Meeting for the Audit Results of the Financial Statements    • Andin Hadiyanto
  6.    February 10, 2023
                                     for the Fiscal Year 2022 with KAP                                    • Sentot A. Sentausa
                                                                                                          • Adi Prakoso
                                                                                                          • Peter Eko Budi Darwito




                                                                                PT Bank Tabungan Negara (Persero) Tbk                  517
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                                                    Corporate
                                                    Governance




No.               Date                                  Agenda                                                Participants

                                                                                                • Iqbal Latanro
                                                                                                • Ahdi Jumhari Luddin
                             Approval of the Draft Financial Statements Publication of PT
                                                                                                • Andin Hadiyanto
 7.    February 15, 2023     Bank Tabungan Negara (Persero) Tbk for the 4th Quarter of
                                                                                                • Sentot A. Sentausa
                             2022 (Audited)
                                                                                                • Adi Prakoso
                                                                                                • Peter Eko Budi Darwito

                             1. Key Points of General Audit and Monitoring of General Audit
                                                                                                • Iqbal Latanro
                                Follow-ups
                                                                                                • Ahdi Jumhari Luddin
                             2. Monitoring of Work Breakdown Structure (WBS) and Follow-
 8.    February 27, 2023                                                                        • Sentot A. Sentausa
                                up on Special Audit
                                                                                                • Adi Prakoso
                             3. Follow-up on the Supreme Audit Agency (BPK) Audit and
                                                                                                • Peter Eko Budi Darwito
                                Progress of the BPK Audit in 2023

                                                                                                • Iqbal Latanro
                             Delays in correcting SLIK reporting, Follow-up on OJK findings     • Ahdi Jumhari Luddin
 9.    March 6, 2023         on UUS, and Progress of the separation of the Sharia Business      • Sentot A. Sentausa
                             Unit of Bank BTN                                                   • Adi Prakoso
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                             -   Management Letter from the Public Accounting Firm for the
                                                                                                • Andin Hadiyanto
                                 Fiscal Year ending December 31, 2022
 10.   March 20, 2023                                                                           • Sentot A. Sentausa
                             -   Evaluation of the Performance of Support Services (Public
                                                                                                • Endang A. Suprijatna
                                 Accounting Firm)
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                                                                                                • Andin Hadiyanto
                             Evaluation of the Implementation of Audit Services for Financial
 11.   April 10, 2023                                                                           • Sentot A. Sentausa
                             Information as of December 31, 2022, by KAP PSS-EY
                                                                                                • Endang A. Suprijatna
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                                                                                                • Andin Hadiyanto
                             Audit Committee's Review of the Draft Financial Publication
 .12   April 13, 2023                                                                           • Sentot A. Sentausa
                             Report as of March 31, 2023 (unaudited)
                                                                                                • Endang A. Suprijatna
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                                                                                                • Andin Hadiyanto
                             Realization of the Audit Plan, IAD Activities, and Follow-up
 13.   May 8, 2023                                                                              • Sentot A. Sentausa
                             Monitoring of Findings until the 1st Quarter of 2023
                                                                                                • Endang A. Suprijatna
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                                                                                                • Andin Hadiyanto
                             Discussion on the Audit Committee's 1st Quarter Report for
 14.   May 15, 2023                                                                             • Sentot A. Sentausa
                             2023
                                                                                                • Endang A. Suprijatna
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                                                                                                • Ahdi Jumhari Luddin
                             1. Discussion on the Results of Pension Fund Due Diligence
                                                                                                • Andin Hadiyanto
 15.   June 5, 2023          2. Process of Decision and Execution of Disciplinary Sanctions
                                                                                                • Sentot A. Sentausa
                                Against Employees
                                                                                                • Endang A. Suprijatna
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                             Recommendation for Approval of the 1st Place/Winner of the         • Ahdi Jumhari Luddin
                             Procurement of Independent Quality Control Consultant Services     • Andin Hadiyanto
 16.   June 5, 2023
                             from External Parties to Review the Performance of the Internal    • Sentot A. Sentausa
                             Audit Division for the Period July 2020 to June 2023               • Endang A. Suprijatna
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                                                                                                • Andin Hadiyanto
                             Preparation of Self-Assessment of Good Corporate Governance
 17.   June 26, 2023                                                                            • Sentot A. Sentausa
                             for the 1st Semester of 2023
                                                                                                • Endang A. Suprijatna
                                                                                                • Peter Eko Budi Darwito

                                                                                                • Iqbal Latanro
                                                                                                • Andin Hadiyanto
                             Discussion of the Results of the 1st Round of Internal General
 18.   July 03, 2023                                                                            • Sentot A. Sentausa
                             Audit in 2023 and Special Audits
                                                                                                • Endang A. Suprijatna
                                                                                                • Peter Eko Budi Darwito




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                                                                                             2023 Annual Report




No.              Date                                 Agenda                                                Participants

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
                           Review of Financial Publication Reports for the 2nd Quarter of
19.   July 17, 2023                                                                           • Sentot A. Sentausa
                           2023
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
                           Root Cause and Follow-up on Findings from KAP 2022 &
20.   July 17, 2023                                                                           • Sentot A. Sentausa
                           Financial Service Authority (OJK) 2022
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
                           Monitoring the Development of Credit Life Insurance Claims &
21.   July 24, 2023                                                                           • Sentot A. Sentausa
                           Business Development with IFG
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
                           Results of the Review of the Internal Audit Division's Function
22.   August 07, 2023                                                                         • Sentot A. Sentausa
                           by PwC
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
                           Results of the Exit Meeting for Internal Audit and Audit
23.   August 21, 2023                                                                         • Sentot A. Sentausa
                           Committee's Site Visit Plan
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
24.   August 28, 2023      Evaluation of the Performance of KAP for the Fiscal Year 2022      • Sentot A. Sentausa
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                           Follow-up on OJK Letter No. S-53 dated August 25, 2023, and        • Sentot A. Sentausa
25.   September 11, 2023
                           Realization of the Annual Audit Plan for the year 2023             • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                           Recommendation for the Appointment of KAP conducting Limited       • Andin Hadiyanto
26.   October 2, 2023      Review as of September 2023 and Procurement of a Rating            • Sentot A. Sentausa
                           Company to Assess the Bank's Health Level                          • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
27.   October 9, 2023      Update of the Internal Audit Charter                               • Sentot A. Sentausa
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
28.   November 13, 2023    Development of Accrued Interest and Related Audit                  • Sentot A. Sentausa
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
29.   November 13, 2023    Issues with QRIS BTN as an Issuer                                  • Sentot A. Sentausa
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
                           Completion of the Internal Audit Implementation Evaluation
30.   November 20, 2023                                                                       • Sentot A. Sentausa
                           Survey for the Year 2023
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito

                                                                                              • Iqbal Latanro
                                                                                              • Andin Hadiyanto
                           Review of Financial Publication Reports for the 3rd Quarter of
31.   November 27, 2023                                                                       • Sentot A. Sentausa
                           2023
                                                                                              • Endang A. Suprijatna
                                                                                              • Peter Eko Budi Darwito




                                                                     PT Bank Tabungan Negara (Persero) Tbk                 519
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                                                                          Governance




     No.                   Date                                               Agenda                                                     Participants

                                                                                                                        • Iqbal Latanro
                                                                                                                        • Andin Hadiyanto
     32.     December 4, 2023                   Discussion on the Procurement of Substantive Goods                      • Sentot A. Sentausa
                                                                                                                        • Endang A. Suprijatna
                                                                                                                        • Peter Eko Budi Darwito

                                                                                                                        • Iqbal Latanro
                                                                                                                        • Sentot A. Sentausa
     33.     December 4, 2023                   Progress on the Follow-up of Microcredit Issues
                                                                                                                        • Endang A. Suprijatna
                                                                                                                        • Peter Eko Budi Darwito

                                                                                                                        • Iqbal Latanro
                                                                                                                        • Andin Hadiyanto
     34.     December 11, 2023                  Update of the Audit Committee Charter                                   • Sentot A. Sentausa
                                                                                                                        • Endang A. Suprijatna
                                                                                                                        • Peter Eko Budi Darwito

                                                                                                                        • Iqbal Latanro
                                                                                                                        • Andin Hadiyanto
                                                Progress of KAP Procurement for the Fiscal Year 2024 and the
     35.     December 18, 2023                                                                                          • Sentot A. Sentausa
                                                Work Program & KPIs of the Audit Committee for the Year 2024
                                                                                                                        • Endang A. Suprijatna
                                                                                                                        • Peter Eko Budi Darwito



MEETING FREQUENCY AND ATTENDANCE LEVEL OF THE AUDIT
Throughout 2023, the Audit Committee has held 35 meetings. The frequency and level of meeting attendance for each member of the
Audit Committee is as follows.

Table of Audit Committee Meeting Attendance Level
                                                                                                             Audit Committee Meetings
                      Name                                  Position
                                                                                   Number of Meeting           Number of Attendance                  Percentage
     Iqbal Latanro                                Chairman                                       35                               35                         100

     Ahdi Jumhari Luddin  1
                                                  Member                                         11                               11                         100

     Sentot A. Sentausa                           Member                                         35                               35                         100

     Andin Hadiyanto                              Member                                         35                               31                        88,6

     Adi Prakoso2                                 Member                                           9                               9                         100

     Peter Eko Budi Darwito                       Member                                         35                               35                         100

     Endang A. Suprijatna     3
                                                  Anggota                                        26                               26                         100
1)
      Appointed as a member of the Audit Committee on January 8, 2020, effective from March 16, 2020. The presence of Mr. Ahdi Jumhari Luddin at the meeting due to health
      conditions until the person concerned died on August 12 2023
2)
      Appointed as a member of the Audit Committee on March 13, 2018, serving until March 12, 2023.
3)
      Appointed as a member of the Audit Committee on March 13, 2023, serving until March 12, 2026.




Work Plan and The Implementation of The Audit Committee Duties In 2023


     No                                                      Activities                                                      Accomplishment             Information

            A. Audit Committee Routine Activities:

            Providing input and recommendations for Approval of the Annual Audit Plan to the Board of                                                At the beginning
      1.                                                                                                                   Accomplished
            Commissioners.                                                                                                                           of the year

            Monthly monitoring and evaluation of the implementation of tasks & follow-up of Internal Audit,
      2.                                                                                                                   Accomplished              Monthly
            including internal control.

                                                                                                                                                     Implemented 5
      3     Attending the Exit Meeting for General Internal Audit (IAD).                                                   Accomplished
                                                                                                                                                     times

            Monitoring and evaluating the implementation of audits by External Auditors (OJK, BI, BPK, Audit
      4.                                                                                                                   Accomplished              Trianually
            Firms, etc.), including follow-up on audit results.

                                                                                                                                                     TW IV 2022,
      5.    Checking and evaluating Quarterly Financial Publication Reports.                                               Accomplished              TW I, TW II and
                                                                                                                                                     TW III 2023




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 No                                                  Activities                                                     Accomplishment     Information

       Providing recommendations on the appointment of Public Accountants to the Board of Commissioners                              KAP for the
  6.                                                                                                            Accomplished
       for decision in the General Shareholders' Meeting.                                                                            Fiscal Year 2023

       Conveying recommendations on the appointment of Public Accountants to the Board of Commissioners
                                                                                                                                     KAP for the
  7.   to be submitted to the Ministry of State-Owned Enterprises in the context of the General Shareholders'   Accomplished
                                                                                                                                     Fiscal Year 2023
       Meeting agenda.

       Monitoring reports on the appointment of Public Accounting Firms according to the General                                     KAP for the
  8.                                                                                                            Accomplished
       Shareholders' Meeting to the OJK.                                                                                             Fiscal Year 2023

                                                                                                                                     KAP for the
  9.   Monitoring the progress of audits by KAP                                                                 Accomplished
                                                                                                                                     Fiscal Year 2022

       Providing an evaluation of the implementation of the provision of Audit Services for Financial                                KAP for the
 10.                                                                                                            Accomplished
       Information by KAP to be submitted to the OJK                                                                                 Fiscal Year 2022

       Recommending to the Board of Commissioners to initiate the procurement of an independent quality                              Period July 2020
 11.                                                                                                            Accomplished
       controller from an external party to review the performance of SKAI                                                           to June 2023

       Recommending to the Board of Commissioners to appoint an independent quality controller from an
 12.                                                                                                            Accomplished         KAP PwC
       external party to review the performance of SKAI

       Reviewing, evaluating, and providing input to the Board of Commissioners regarding the monthly
 13.                                                                                                            Accomplished         Monthly
       performance review material presented by the Board of Directors

                                                                                                                                     Laporan TW IV
       Compiling quarterly and annual reports on the activities of the Audit Committee to the Board of
 14.                                                                                                            Accomplished         2022 & TW I
       Commissioners
                                                                                                                                     2023

       Compiling the Board of Commissioners' Supervision Report on the Realization of RBB (biannually) to
 15.                                                                                                            Accomplished         Biannually
       be submitted to the OJK

       Compiling the Board of Commissioners' Response to the Company's Performance (Quarterly) to be
 16.                                                                                                            Accomplished         Trianually
       submitted to the Minister of State-Owned Enterprises

       Assessment of the completion of the Self-Assessment GCG Half-Yearly Working Papers by the Audit                               Semester I and II
 17.                                                                                                            Accomplished
       Committee & Board of Commissioners.                                                                                           2023

                                                                                                                                     Annual Report
 18.   Compiling the Annual Report related to the Audit Committee and Board of Commissioners                    Accomplished
                                                                                                                                     2022 & 2023

       B. Incidental Activities of the Audit Committee

       Providing independent opinions in the event of differences of opinion between Management and                                  No difference of
  1.                                                                                                            -
       Public Accountants regarding the services provided                                                                            opinion yet

                                                                                                                                     No complaints
  2.   Reviewing complaints related to the bank's accounting and financial reporting processes                  -
                                                                                                                                     received yet

                                                                                                                                     Sumatera Utara
       Accompanying members of the Board of Commissioners on working visits to BTN offices as assigned
  3.                                                                                                            Accomplished         and Yogyakarta-
       by the Board of Commissioners
                                                                                                                                     Magelang

                                                                                                                                     Webinar OJK,
       Participating in training, seminars, workshops as assigned by the Board of Commissioners for                                  GRC Marterclass
  4.                                                                                                            Accomplished
       Competency Development related to Duties and Responsibilities                                                                 KBUMN, SDP,
                                                                                                                                     CACP, SNIA

       C. Others

  1.   Audit Committee Meetings                                                                                 Accomplished         35 times

       Coordination Meetings with the Risk Monitoring Committee and the Remuneration and Nomination
  2.                                                                                                            Accomplished         4 times
       Committee

  3.   Providing input on the concept of RKAP and RBB                                                           Accomplished         Biannually



AUDIT COMMITTEE STATEMENT ON THE EFFECTIVENESS OF SPI AND RISK MANAGEMENT
The overall Internal Control System (SPI) and Risk Management implemented by Bank BTN have been functioning effectively. Management
consistently strives to enhance the implementation of internal control systems and risk management, guided by the findings from both
internal and external audit reports.




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                                                             Governance




Remuneration and Nomination Committee                                     11. Regulation of the State Minister for State-Owned Enterprises
                                                                              No. PER-14/MBU/10/2021 dated October 29, 2021
Remuneration and Nomination Committee is formed by and                        concerning the second change of Regulation of the
is responsible to the Board of Commissioners, whose task is to                State Minister for StateOwned Enterprises No. PER-12/
assist the Board of Commissioners in carrying out their duties. The           MBU/2012 concerning the supporting Organs of the SOEs’
Remuneration and Nomination Committee is one of the corporate                 Board of Directors/Board of Commissioners.
organs, working together with the Human Capital Division and              12. Decree of the Minister of State-Owned Enterprises No. PER-1/
Learning Center Division as a tool owned by the Board of Directors            MBU/03/2023 dated March 24, 2023, regarding Special
for raising human capital as strategic assets and strategic partners,         Assignments and Corporate Social and Environmental
analyzing policies, monitoring the implementation of preparing                Responsibility Programs of State-Owned Enterprises..
prospective leaders that will be a role model, and providing              13. Decree of the Minister of State-Owned Enterprises No.
meticulous attention to the implementation of good corporate                  PER-2/MBU/03/2023 dated March 24, 2023, regarding
governance, including policies and the amount of remuneration.                Guidelines for Governance and Significant Corporate
                                                                              Activities of State-Owned Enterprises.
Legal Basis for Establishing the Remuneration and                         14. Decree of the Minister of State-Owned Enterprises No.
Nomination Committee                                                          PER-3/MBU/03/2023 dated March 24, 2023, regarding
                                                                              the Organization and Human Resources of State-Owned
The Company establishes the Nomination and Remuneration                       Enterprises.
Committee in accordance with the following Regulations,                   15. Articles of Association of PT Bank Tabungan Negara (Persero)
Provisions and Legislation:                                                   Tbk for the Year 2023.
1. OJK Regulation Number 12 of 2023 concerning Sharia                     16. Decision of the Board of Commissioners No. 05/KOM/
    Business Units.                                                           BTN/2023 dated December 13, 2023, regarding
2. Bank Indonesia Regulation No. 11/33/PBI/2009 dated                         the Guidelines and Code of Conduct for the Board of
    December 7, 2009, regarding the Implementation of Good                    Commissioners.
    Corporate Governance for Sharia Commercial Banks and                  17. Joint Decision of the Board of Commissioners and the Board
    Sharia Business Units.                                                    of Directors of PT Bank Tabungan Negara (Persero) Tbk No.
3. OJK Regulation No. 33/POJK.04/2014 dated December                          01/DEKOM-BTN/2021 – No. 01/DIR-BTN/2021 dated
    1, 2014, regarding the Board of Directors and Board of                    January 26, 2021, regarding the Working Relationship
    Commissioners of Issuers or Public Companies.                             between the Board of Commissioners and the Board of
4. OJK Regulation No. 34/POJK.04/2014 dated December                          Directors of PT Bank Tabungan Negara (Persero) Tbk..
    8, 2014, regarding the Nomination and Remuneration                    18. Decision of the Board of Commissioners No. 07/KOM/
    Committee of Issuers or Public Companies.                                 BTN/2023 dated December 13, 2023, regarding the
5. OJK Regulation No. 45/POJK.03/2015 dated December                          Guidelines and Code of Conduct for Remuneration and
    23, 2015, regarding the Implementation of Governance in                   Nomination.
    Providing Remuneration for Commercial Banks.
6. OJK Circular Letter No. 40/SEOJK.03/2016 dated                         Duties and Responsibilities of Remuneration and
    September 26, 2016, regarding the Implementation of                   Nomination Committee
    Governance in Providing Remuneration for Commercial
    Banks.                                                                In accomplishing its main duties, the Committee is responsible
7. OJK Regulation No. 59/POJK.03/2017 dated December                      to the Board of Commissioners for the following detailed
    18, 2017, regarding the Implementation of Governance in               responsibilities:
    Providing Remuneration for Sharia Commercial Banks and                1. The duties of the Committee regarding remuneration are::
    Sharia Business Units.                                                    a. The Committee provides recommendation to the Board of
8. OJK Regulation No. 17 of 2023 dated September 14,                              Commissioners related to:
    2023, regarding the Implementation of Governance for                          -     Structure of remuneration.
    Commercial Banks.                                                             -     Policy regarding remuneration.
10. Regulation of the State Minister for State-Owned Enterprises                  -     Rate of remuneration.
    No. PER-06/MBU/04/2021 dated April 13, 2021                               b. The Committee assists the Board of Commissionaires to
    concerning the change of the Regulation of the State Minister                 assess the appropriateness between working performance
    for State-Owned Enterprises No. PER-12/MBU/2012                               and remuneration received by each member of Board of
    concerning the Supporting Organs of the SOEs’ Board of                        Directors and/or Board of Commissionaires.
    Commissioners/Board of Trustees.                                          c. In completing the remuneration-related duties, it is
                                                                                  obliged for the Committee to do the following procedure:




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        -    Formulating the structure, policy, and rate of               −    Required policy and criteria for Nomination process;
             remuneration for members of Board of Directors               −    Performance evaluation policy for members of the Board
             and/or Board of Commissionaires; and                              of Directors and/or Board of Commissioners; and
       -     Formulating structure, policy, and remuneration for          − Proposal for appointment and/or replacement
             members of Sharia Supervisory Board (DPS).                        of members of Sharia Supervisory Board to be
   d. The said remuneration structure may be in the form of                    submitted in the GMS.
       fixed and/or variable salary, honorarium, incentive, or       b.   The Committee assists the Board of Commissioners to
       allowance.                                                         conduct performance assessment of members of the
   e. The drafting of structure, policy, and rate of remuneration         Board of Directors and/or Board of Commissioners
       has to consider the following aspects:                             by referring to the valid parameters as an evaluation
       -     The relevance of remuneration applied to industries          material.
             to the Bank’s business activities and business scale.   c.   The Committee offers recommendation to the Board of
       -     Duty, responsibility, and authority of members of the        Commissioners concerning competency development
             Board of Directors and/or Board of Commissionaires           program for members of the Board of Directors and/or
             associated with the Bank’s goal achievement and              Board of Commissioners.
             performance.                                            d.   The Committee recommends proposed candidates who
       -     The target of performance or the performance of              are eligible to be appointed as members of the Board of
             each member of the Board of Directors and/or                 Directors and/or Board of Commissioners to the Board
             Board of Commissionaires.                                    of Commissioners to be submitted in the GMS.
       -     Balance between the fixed and the variable              e.   In accomplishing its Nomination function, the Committee
             allowance.                                                   is obliged to complete the following procedures:
   f. The Committee evaluates remuneration-related policy                 − Formulating the composition and process of
       which is based on performance, risk, fairness with peer                 nomination for members of the Board of Directors
       groups, target, Company’s long-term strategy, reserve                   and/or Board of Commissioners.
       fulfillment as regulated in the constitution, and the              − Formulating necessary policy and criteria for the
       Company’s future income potential.                                      Nomination process of the candidates of the Board
   g. The Committee delivers the result of the evaluation                      of Directors and/or Board of Commissioners.
       and recommendation to the Board of Commissionaires                 − Assisting the evaluation of the performance of
       regarding:                                                              members of the Board of Directors and/or Board of
       − Remuneration policy for the Board of Directors,                       Commissioners.
             Board of Commissionaires, and Sharia Supervisory             − Formulating competency development program for
             Board to be delivered in the General Meeting of                   members of the Board of Directors and/or Board of
             Shareholders (GMS).                                               Commissioners.
       − Overall remuneration for employees to be submitted               − Reviewing and proposing qualified member
             to the Board of Directors.                                        candidates of the Board of Directors and/or Board
   h. The Committee carries out regular evaluation for at least                of Commissioners to the Board of Commissioners to
       once a year regarding the structure, policy, and rate of                be submitted in the GMS.
       remuneration.                                                 f.   The Committee formulates, implements, and analyzes
   i. The Committee formulates and evaluates the payroll                  criteria and procedure of nomination for the candidates
       and allowance system of the members of Board of                    of Sharia Supervisory Board.
       Commissionaires, and provides recommendation related          g.   The Committee monitors and analyzes criteria and
       to:                                                                procedure of nomination for other executives, one level
       − Assessment of the system;                                        under the Board of Directors.
       − Available options, one of which is stock option;            h.   The Committee offers recommendation of election
       − Retirement System, Pension; and                                  criteria and procedure, composition of position, and
       − Compensation System and other benefits of                        appointment and/or replacement of members of the
             employee reduction.                                          Board of Directors, Board of Commissioners, and Sharia
   j. The Committee accomplishes other remuneration-related               Supervisory Board.
       duties from the Board of Commissioners.                       i.   The Committee formulates performance assessment
2. The duties of the Committee regarding Nomination are:                  system for members of the Board of Commissioners and
   a. The Committee provides recommendation to the Board of               the Board of Directors.
       Commissioners regarding the following matters:                j.   The Committee reviews the policy of human resource
       − Nomination of Director candidates referring to the               management system and development starting from
             Company’s strategy;                                          recruitment, assessment, competency development,
       − Composition of members of the Board of Directors                 evaluation,       promotion,    demotion,     termination,
             and/or Board of Commissioners;                               succession, selection, and others.




                                                                     PT Bank Tabungan Negara (Persero) Tbk                    523
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                                                                  Corporate
                                                                  Governance




    k. The Committee conducts regular review on the company                                                      Article 9    Work Mechanism
       talent management system, monitors, and evaluates its                     Chapter     Work Mechanism                   Working
                                                                                                                 Article 10
       performance.                                                                IV        and Relationship                 Relationship

    l. The Committee evaluates the system and procedure of                                                       Article 11   Supporting Staff

       talent classification carried out by the Board of Directors.                                              Article 12
                                                                                                                              Work Plan and
                                                                                                                              Budgeting
    m. The Committee performs validation and calibration
       towards the talents selected by the Directors to the Board                                                             Committee
                                                                                             Work Plan and       Article 13
                                                                                Chapter V                                     Meetings
       of Commissioners/ Supervisory Board to generate the                                   Implementation
                                                                                                                 Article 14   Reports
       list of talents that will be nominated by the Board of
       Commissioners/ Supervisory Board in the GMS or to the                                                                  Performance
                                                                                                                 Article 15
                                                                                                                              Evaluation
       Minister.
                                                                                                                              Competency
    n. The Committee evaluates the candidates of the company                                                     Article 16
                                                                                                                              Development
                                                                                             Competence
       representatives proposed as members of Board of Directors                 Chapter
                                                                                             and Income                       Committee
                                                                                   VI
       or Board of Commissioners of the subsidiary company                                   Development         Article 17   Members'
       before being submitted in the GMS or to the Minister.                                                                  Remuneration
    o. The Committee prepares a proposal of individual                           Chapter
                                                                                             Closing             Article 18   Conclusion
       performance evaluation for members of the Board of                          VII
       Directors and/or Board of Commissioners/ Supervisory
       Board.                                                                  Authority of The Remuneration and Nomination
    p. The Committee evaluates the proposal from the Board of                  Committee
       Directors regarding the company organization structure.
    q. The Committee accomplishes other Nomination-related                     The Committee holds the following authorities granted by the
       duties from the Board of Commissioners.                                 Board of Commissioners:
    r. The members of the Committee are obliged to sign                        1. Reviewing, examining, analyzing, and giving opinions and
       integrity pact containing statement and commitment to                       recommendations within the coverage of their duty.
       comply with all statutory provisions and principles of                  2. Requesting the Bank to survey and/or do benchmarking
       good corporate governance).                                                 according to the needs of the Committee.
                                                                               3. Requesting, researching, and obtaining necessary
Remuneration and Nomination Committee Charter                                      information from the Bank’s internal and external parties.
                                                                               4. Seeking and obtaining various information including
In fulfilling their duties and responsibilities, the Remuneration and              necessary documents from:
Nomination Committee refers to the Charter of Remuneration and                 a. Bank BTN (including Bank employees); and/or
Nomination Committee according to the Board of Commissioners                   b. Other relevant parties.
Decree Number 07/KOM/BTN/2023 dated December 13,                               5. Being provided with inputs and/or suggestions from the Bank
2023 regarding the Guidelines and Code of Conduct for the                          BTN’s external parties in relation to their duties.
Remuneration and Nomination Committee of PT Bank Tabungan                      6. Performing direct communication with relevant parties related
Negara (Persero) Tbk. Remuneration and Nomination Committee                        the committee’s duties.
Work Guidelines and Rules aims to allow the Committee to work
optimally and to ensure that the provisions recommendation for                 Term of Office of The Remuneration and Nomination
the remuneration and nomination of members                                     Committee
of the Board of Commissioners, Board of Directors, Executives,
Employees, and Human Capital policy is in accordance with the                  1. The term of office of the Committee members who holds
principles of Good Corporate Governance.                                          concurrent position in the Board of Commissioners shall end
                                                                                  accordingly once their position as member of the Board of
The Content of the Charter of Remuneration and Nomination                         Commissioners ends;
Committee is as follows:                                                       2. The term of office of the Committee members who is not
                                        Article 1   Definition                    a concurrent member of the Board of Commissioners is 3
  Chapter I     General Provision                   Purpose of
                                                                                  (three) years at the maximum and is extendable for once
                                        Article 2
                                                    Formation                     within 2 (two) terms of office provided that the Board of
                                        Article 3   Committee's Tasks             Commissioners is still entitled to dismiss the respected
                Duty, Responsibility,
 Chapter II     and Authority of the    Article 4   Responsibilities              Committee members at any time;
                Committee                                                      3. If a concurrent member of the Board of Commissioners
                                        Article 5   Authorities
                                                                                  holding a position as the chairman of the Committee releases
                                                    Composition and
                                        Article 6                                 his status as a member of the Board of Commissioners, the
                                                    Structure
 Chapter III    Membership                          Membership                    position of the Committee chairman must be replaced by
                                        Article 7
                                                    Requirements                  another member of the Board of Commissioners within 30
                                        Article 8   Term of Office                (thirty) days at maximum.



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Structure, Membership, and Expertise of The                                            Members of the Remuneration and Nomination Committee
Remuneration and Nomination Committee                                                  are appointed by the Board of Directors by referring to the
                                                                                       decision made in the meeting of the Board of Commissioners.
The composition of Remuneration and Nomination Committee                               The Executives or representatives of the Remuneration Committee
should at least have 1 (one) Independent Commissioner, 1 (one)                         members must be knowledgeable about the Bank’s remuneration
Commissioner, and 1 (one) Executive who supervises human                               system, nomination system, and succession plan.
resources or 1 (one) employee representative. The Committee is
led by the Independent Commissioner.                                                   Members of the Committee are appointed and dismissed based on
                                                                                       the decision made in the meeting of the Board of Commissioners.
If the Remuneration and Nomination Committee has more than                             The decision has to be followed-up by the Board of Directors by
3 (three) personnel, there should be at least 2 (two) Independent                      issuing letter of appointment/ dismissal. The respected decision
Commissioners. When necessary, the Remuneration and                                    shall be documented. The chairman of the Committee can only
Nomination Committee may appoint independent members from                              hold concurrent positions as the chairman of the committee for 1
an outside Bank BTN.                                                                   (one) other Committee at the maximum.



Table of the Remuneration and Nomination Committee’s Structure, Membership, and Expertise

             Name                     Position            Information                         Expertise                            Basis of Appointment
                                    Chairman         President                                                            Board of Commissioners Letter No. 03/
                                                                               Law, Finance, Risk Management,
 Chandra M. Hamzah                  concurrently     Commissioner/                                                        KOM/BTN/I/2020 dated January 8,
                                                                               and People Management
                                    Member           Independent                                                          2020
                                                     Vice President                                                       Decision of the Board of Commissioners
                                                                               Law, Finance, Risk Management,
 Iqbal Latanro                      Member           Commissioner/                                                        No. 03/KOM/BTN/IV/2021 dated
                                                                               and People Management
                                                     Independent                                                          April 1, 2021

                                                                                                                          Board of Commissioners Letter No. 03/
                                                     Independent               Banking, Compliance and Risk
 Ahdi Jumhari Luddin1               Member                                                                                KOM/BTN/I/2020 dated January 8,
                                                     Commissioner              Management
                                                                                                                          2020

                                                                               Banking, Risk Management,                  Board of Commissioners Letter No. 03/
                                                     Independent
 Armand B. Arief                    Member                                     Business Management and People             KOM/BTN/I/2020 dated January 8,
                                                     Commissioner
                                                                               Management                                 2020

                                                                                                                          Decision of the Board of Commissioners
                                                     Independent               Banking, Compliance and Risk
 Sentot A. Sentausa                 Member                                                                                No. 08/KOM/BTN/2022 dated
                                                     Commissioner              Management
                                                                                                                          October 13, 2022

                                                                               Banking, Compliance, Risk                  Board of Commissioners Letter No. 03/
 Andin Hadiyanto                    Member           Commissioner              Management and Business                    KOM/BTN/I/2020 dated January 8,
                                                                               Administration                             2020

                                                                                                                          Decision of the Board of Commissioners
                                                                               Macroeconomics, Risk Management,
 Herry Trisaputra Zuna              Member           Commissioner                                                         No. 08/KOM/BTN/2022 dated
                                                                               and Business Administration
                                                                                                                          October 13, 2022

                                                                               Management and Business, Risk              Decision of the Board of Commissioners
 Himawan Arief Sugoto               Member           Commissioner              Management, Finance, Agrarian              No. 08/KOM/BTN/2022 dated
                                                                               and Spatial Planning                       October 13, 2022.

                                                                               Banking, Macroeconomics,                   Decision of the Board of Commissioners
 Mohamad Yusuf Permana2             Member           Commissioner              Risk Management and People                 No. 04/KOM/BTN/2023 dated
                                                                               Management                                 January 18, 2023

                                                                                                                          Directors Decree of PT Bank Tabungan
                                                                                                                          Negara (Persero) Tbk. No. 1003/
                                                                                                                          DIR/2021 Regarding the Appointment
                                                                               Human Capital, Finance, and
 Moch. Amin Nurdin                  Member           Independent Party                                                    of Mr. Moch. Amin Nurdin as a
                                                                               Corporate Relation
                                                                                                                          Member of the Remuneration and
                                                                                                                          Nomination Committee of PT Bank
                                                                                                                          Tabungan Negara (Persero) Tbk

                                                     Executive Officer in                                                 Decision of the Board of Commissioners
                                    Ex. Officio                                Human Capital, Finance, and
 Rahmayati                                           charge of Human                                                      No. 08/KOM/BTN/2022 dated
                                    Member                                     Corporate Relation
                                                     Resources                                                            October 13, 2022

Information:
1 His term of office as a member of the Remuneration and Nomination Committee ended automatically due to his death on 12 August 2023
2 Passed the Capability and Proper Test by OJK on 07 June 2023




                                                                                            PT Bank Tabungan Negara (Persero) Tbk                         525
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                                                               Corporate
                                                               Governance




The profile of the Remuneration and Nomination Committee as of December 31, 2023 is as follows.


                       Profile is available in the Profile of the                               Profile is available in the Profile of the Board
 Chandra M. Hamzah                                                           Andin Hadiyanto
                       Board of Commissioners section.                                          of Commissioners section.
     Head of the                                                              Member of the
                       His tenure as Chairman concurrent member                                 His tenure as a member of the Remuneration
  Remuneration and                                                          Remuneration and
                       of the Remuneration and Nomination                                       and Nomination Committee starts on
     Nomination                                                                Nomination
                       Committee starts on November 27, 2019 –                                  November 27, 2019 –November 26,
     Committee                                                                 Committee
                       November 26, 2024                                                        2024.



    Iqbal Latanro      Profile is available in the Profile of the Board      Herry Trisaputra
                                                                                                Profile is available in the Profile of the Board
    Member of the      of Commissioners section.                                  Zuna
                                                                                                of Commissioners section.
  Remuneration and     His tenure as a member of the Remuneration             Member of the
                                                                                                His tenure as a member of the Remuneration
     Nomination        and Nomination Committee starts on March             Remuneration and
                                                                                                and Nomination Committee starts on March
      Committee        10, 2021 –November 26, 2026.                            Nomination
                                                                                                02, 2022 –March 01, 2027
                                                                               Committee

                       Profile is available in the Profile of the Board
   Armand B. Arief
                       of Commissioners section.                             Himawan Arief
    Member of the                                                                               Profile is available in the Profile of the Board
                       His tenure as a member of the Remuneration                Sugoto
  Remuneration and                                                                              of Commissioners section.
                       and Nomination Committee starts on                     Member of the
     Nomination                                                                                 His tenure as a member of the Remuneration
                       November 27, 2019 –November 26,                      Remuneration and
     Committee                                                                                  and Nomination Committee starts on March
                       2024.                                                   Nomination
                                                                                                02, 2022 –March 01, 2027
                                                                               Committee

  Sentot A. Sentausa   Profile is available in the Profile of the Board
    Member of the      of Commissioners section.
  Remuneration and     His tenure as a member of the Remuneration            Mohamad Yusuf
                                                                                                Profile is available in the Profile of the Board
     Nomination        and Nomination Committee starts on March                 Permana
                                                                                                of Commissioners section.
      Committee        02, 2022 –March 01, 2027.                              Member of the
                                                                                                His tenure as a member of the Remuneration
                                                                            Remuneration and
                                                                                                and Nomination Committee starts on
                                                                               Nomination
                                                                                                January 11, 2023 – January 10, 2028
                                                                               Committee




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                                                                                     2023 Annual Report




                                                 Educational background
                                                 •   Bachelor (S1) of Business Administration, Universitas Diponegoro Semarang,
                                                     Semarang (1997).
                                                 •   Master (S2) of Marketing, PPM Graduate School of Management, Jakarta (2006).
                                                 •   Master (S2) of Human Resource Management, Universitas Mercu Buana, Jakarta
                                                     (2019).


                                                 Position History
                                                 • Jakarta Area Head, Bank CIMB Niaga, 2008
                                                 • Senior Faculty, LPPI, Indonesian Banking Development Institute, 2018
                                                 • Head of Marketing and Training Division 1, LPPI, 2020
                                                 • Head of LPK LPPI, Indonesian Banking Development Institute, 2020
                                                 • Head of Bank Training Division, Indonesian Banking Development Institute, 2022 -
MOCH. AMIN NURDIN
                                                   present
Member of the Remuneration and
Nomination Committee
                                                 Period of Office
Indonesian citizen, 50 years old, domiciled in
                                                 The First Period with Term of Office: November 30, 2021 – November 29, 2024
Bekasi, West Java.



                                                 Basis of Appointment
                                                 Decree of Board of Directors of PT Bank Tabungan Negara (Persero) Tbk. Number:
                                                 1003/ DIR/2021 regarding the Appointment of Sdr. Moch. Amin Nurdin as a
                                                 Member of the Remuneration and Nomination Committee


                                                 Concurrent Position
                                                 Head of Bank Training Division, Indonesian Banking Development Institute, 2022 to.
                                                 At the moment


                                                 Certification
                                                 • Certified Audit Committe Practices, 2023
                                                 • Certified Human Resources Analyst, 2018
                                                 • Certified Trainer for General Banking Level 1,2,3 year 2014
                                                 • Certified General Banking Level 2 (Branch Manager and BOD-2), 2016
                                                 • Certified Trainer for BPR/BPRS Leader (BOD/BOC), 2013
                                                 • Certified Trainer for Risk Management Level 1, 2012




                                                                 PT Bank Tabungan Negara (Persero) Tbk                     527
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                                                                 Governance




                                                                      Educational History
                                                                      •   Masters (S-2) Business Administration from the Bandung Institute of Technology in 2012
                                                                      •   Bachelor (S-1) in Civil Engineering from Hasanuddin University in 1996

                                                                      Work experience
                                                                      • School of Business & Sharia Banking DH, Sharia Business Division (29 Januari
                                                                        2019 - 28 February 2021)
                                                                      • Sharia Business Deputy, Sharia Business Division (1 April 2021 - 30 November
                                                                        2021)
                                                                      • Sharia Funding & Treasury Deputy, Sharia Business Division (1 December 2021 -
                                                                        13 Februayi 2022)
                                                                      • PJ Human Capital Management Division Head, Human Capital Management
                                                                        Division (14 February 2022 - 30 September 2022)
RAHMAYATI                                                             • Human Capital Management Division Head, Human Capital Management Division
Member of the Remuneration and Nomination                               (01 October 2022 - Present)

Committee
                                                                      Period of Office
Indonesian citizen, 50 years old, domiciled in
East Jakarta, DKI Jakarta                                             First Period with Term of Office: 17 March 2022 - 16 March 2025

                                                                      Legal Basis for Appointment
                                                                      Board of Commissioners Decree Number 08/KOM/BTN/2022 dated
                                                                      October 13, 2022
                                                                      Concurrent Position
                                                                      Human Capital Management Division Head, Human Capital Management Division,
                                                                      01 October 2022 - Present

                                                                      Certification
                                                                      • Certified Human Resources Manager (2023)
                                                                      • Level 3 Risk Management Certification Refreshment (2022)
                                                                      • Basic Knowledge Certification in the Field of Pension Funds (2022)
                                                                      • PSAK 24 Training (2022)
                                                                      • Professional Coach Certification Program (2021)
                                                                      • Basic Level Treasury Certification (2021)
                                                                      • 4DX : Managers Implementation (2020)
                                                                      • Certified Professional Human Resources (2019)




Independency of The Remuneration and Nomination Committee


 Table of Independence of the Remuneration and Nomination Committee

                     Chandra                       Ahdi                                                Herry       Himawan       Mohamad         Moch.
   Aspect of                       Iqbal                   Armand     Sentot A.       Andin                                                                 Rahma
                       M.                        Jumhari                                            Trisaputra       Arief         Yusuf         Amin
 Independency                     Latanro                  B. Arief   Sentausa      Hadiyanto                                                                yati
                     Hamzah                      Luddin1                                               Zuna         Sugoto       Permana2        Nurdin
 Not having
 financial
 association with
 the Board of                                                                                                                                        
 Commissioners
 and Directors
 Not having
 management
 association in
 the company,
 subsidiary                                                                                                                                          
 company,
 or affiliated
 company




528           PT Bank Tabungan Negara (Persero) Tbk
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                      Chandra                Ahdi                                               Herry     Himawan     Mohamad       Moch.
   Aspect of                     Iqbal                  Armand      Sentot A.      Andin                                                     Rahma
                        M.                 Jumhari                                           Trisaputra     Arief       Yusuf       Amin
 Independency                   Latanro                 B. Arief    Sentausa     Hadiyanto                                                    yati
                      Hamzah               Luddin1                                              Zuna       Sugoto     Permana2      Nurdin
Not having
association
of share
ownership more
than or equal                                                                                                                       
to 5% (five-
percent) in the
Company
Not having
familial
relationship
with the
Board of
Commissioners,                                                                                                                      
Directors,
and/or fellow
members of the
Risk Monitoring
Committee
Not serving as
administrators
of political
parties, public                                                                                                                     
officials and
government



Training and/or Competency Development of The Remuneration and Nomination Committee In2023


                                           Types of Training and Development Materials            Time and place
        Name                Position                                                                                            Organizer
                                                      Competency / Training                       Implementation
                         Chairman
                                          Education and/or Competency Enhancement can be observed in the Education and/or Competency
 Chandra M. Hamzah       concurrently
                                          Enhancement section of the Board of Commissioners.
                         Member
                                          Education and/or Competency Enhancement can be observed in the Education and/or Competency
 Iqbal Latanro           Member
                                          Enhancement section of the Board of Commissioners.
 Ahdi Jumhari                             Education and/or Competency Enhancement can be observed in the Education and/or Competency
                         Member
 Luddin1                                  Enhancement section of the Board of Commissioners.
                                          Education and/or Competency Enhancement can be observed in the Education and/or Competency
 Armand B. Arief         Member
                                          Enhancement section of the Board of Commissioners.
                                          Education and/or Competency Enhancement can be observed in the Education and/or Competency
 Sentot A. Sentausa      Member
                                          Enhancement section of the Board of Commissioners.
                                          Education and/or Competency Enhancement can be observed in the Education and/or Competency
 Andin Hadiyanto         Member
                                          Enhancement section of the Board of Commissioners.
 Herry Trisaputra                         Education and/or Competency Enhancement can be observed in the Education and/or Competency
                         Member
 Zuna                                     Enhancement section of the Board of Commissioners.
 Himawan Arief                            Education and/or Competency Enhancement can be observed in the Education and/or Competency
                         Member
 Sugoto                                   Enhancement section of the Board of Commissioners.
 Mohamad Yusuf                            Education and/or Competency Enhancement can be observed in the Education and/or Competency
                         Member
 Permana2                                 Enhancement section of the Board of Commissioners.
                                                                                              September 15 - 16,
                                                                                              2023 at Ayana Hotel
                                          Board of Commissioner Forum 2023                                               LPPI
                                                                                              Waecicu Beach, Labuan
                                                                                              Bajo, NTT
 Moch. Amin Nurdin       Member                                                               November 28 – 30,
                                          Certification Audit Committee Practices Batch 36    2023 at Sahid Jaya         IKAI
                                                                                              Hotel
                                                                                              October 25, 2023 at
                                          2023 National Audit Committee Conference                                       IKAI
                                                                                              Sahid Jaya Hotel
                                          Expert Talk Session - The Future of Competitive     March 4 2023 at Park
                                                                                                                         Markplus
                                          Strategy For Great Business Transformation          Hyatt Hotel Jakarta
                         Ex. Officio
 Rahmayati                                                                                    10 – 11 March 2023
                         Member
                                          Workshop Team HCCL 2023                             at Royal Tulip Gunung      BTN
                                                                                              Geulis Bogor



                                                                                    PT Bank Tabungan Negara (Persero) Tbk                   529
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                                                                       Governance




                                                Types of Training and Development Materials                     Time and place
         Name                  Position                                                                                                        Organizer
                                                           Competency / Training                                Implementation
                                                                                                            12 – 13 May 2023 at
                                               Leadership Forum "Envisioning Culture For Leader"                                         PwC and Korn Ferry
                                                                                                            Padma Hotel Semarang
                                                                                                            July 20 2023 at the BTN
                                               Pension Fund Seminar                                                                      BTN
                                                                                                            Jakarta Learning Center
                                                                                                                                         Human Resource
                                                                                                            September 30 2023 at
                                                                                                                                         Management
                                               Certified Human Resources Manager                            the BTN Jakarta Learning
                                                                                                                                         Professional Certification
                                                                                                            Center
                                                                                                                                         Body (LSP-MSDM)

Information:
1 The term of office as a member of the Remuneration and Nomination Committee ended automatically due to the demise on August 12, 2023
2 Passed the Assessment of Competence and Suitability by OJK on June 7, 2023




The Remuneration and Nomination Committee’s Meeting
                                                                                       The Committee meeting result shall be documented in the Minutes
Meeting is conducted by at least fulfilling the minimum requirement                    of Meeting signed by all Committee members present, well-
from the Board of Commissioners stipulated in the Company’s                            documented, and submitted to the Board of Commissioners. The
Articles of Association. The meeting quorum is attended by                             Minutes contain information about time and place of the meeting,
minimum of 51% (fifty-one percent) of the Committee members                            meeting agenda, topic of discussion, dissension (if any), and
either physically or proxied by other means. The meeting of                            meeting decision. Dissenting opinion taking place during the
the Remuneration and Nomination Committee is considered                                meeting must be clearly recorded in the minute along with the
legitimate if attended by at least 51% (fifty-one percent) of total                    underlying reasons.
Committee members including 1 (one) Independent Commissioner
and 1 (one) Independent Party.                                                         The Committee is allowed to conduct special meeting if necessary.
                                                                                       The Committee’s meeting may invite the management or other
If members of the Board of Commissioners are unable to                                 parties as resource person. Meeting is held by invitation and with
physically attend the meeting, they may attend through the power                       preceding approved agenda, and the meeting outcome has to be
of attorney, teleconferences, and other methods in accordance                          recorded in the Minutes of Meeting. The original document shall
with the legal procedure and constitution.                                             be owned by the Committee, and the carbon copy is sent to the
                                                                                       Secretary of the Board of Commissioners, and if necessary, can
Meeting is chaired by the Chairman of the Committee or a                               be shared to the absent participants.
member appointed by the attending members if the Chairman
of the Committee is not present. The decision of the Committee                         The decision made in the meeting is declared legitimate and
meeting is made based on deliberation and consensus. When                              binding if attended by at least 51% (fifty-one percent) of the total
consensus is not reached, decision-making is done under one                            Committee members including the Independent Commissioner
man one vote principle.                                                                and Executives who supervise human resources.




THE REMUNERATION AND NOMINATION COMMITTEE’S MEETING AGENDA
Table of the Remuneration and Nomination Committee’s Meeting Agenda

  No.         Meeting Date                                       Meeting agenda                                                 Meeting participants

                                                                                                                     • Chandra M. Hamzah
                                                                                                                     • Iqbal Latanro
                                                                                                                     • Ahdi Jumhari Luddin
                                     1.   Changes in the Directorate's Key Performance Indicator (KPI) in
                                                                                                                     • Armand B. Arief
                                          2022, PT Bank Tabungan Negara (Persero) Tbk.
   1.      January 11, 2023                                                                                          • Andin Hadiyanto
                                     2.   Assessment Candidates for Members of the Board of
                                                                                                                     • Sentot A. Sentausa
                                          Commissioners of PT Bank Tabungan Negara (Persero) Tbk
                                                                                                                     • Herry Trisaputra Zuna
                                                                                                                     • Himawan Arief Sugoto
                                                                                                                     • Moch. Amin Nurdin




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No.     Meeting Date                               Meeting agenda                                            Meeting participants

                                                                                                   • Chandra M. Hamzah
                                                                                                   • Iqbal Latanro
                                                                                                   • Ahdi Jumhari Luddin
                                                                                                   • Armand B. Arief
                          The Interview Result Discussion of Candidates for the Audit Committee    • Andin Hadiyanto
2.    February 15, 2023
                          Members                                                                  • Sentot A. Sentausa
                                                                                                   • Herry Trisaputra Zuna
                                                                                                   • Himawan Arief Sugoto
                                                                                                   • Mohamad Yusuf Permana as an observer)
                                                                                                   • Moch. Amin Nurdin

                                                                                                   • Chandra M. Hamzah
                                                                                                   • Iqbal Latanro
                                                                                                   • Ahdi Jumhari Luddin
                          1.   The Discussion of Phase II Audit Committee Candidate Interview      • Armand B. Arief
                               Results;                                                            • Andin Hadiyanto
3.    February 22, 2023   2.   The Selection of Nominated Talent BoD-1; and                        • Sentot A. Sentausa
                          3.   Recommendations for the Extension of the SEVP Wholesale             • Herry Trisaputra Zuna
                               Banking Employment Contract.                                        • Himawan Arief Sugoto
                                                                                                   • Mohamad Yusuf Permana as an
                                                                                                     observer))
                                                                                                   • Moch. Amin Nurdin

                                                                                                   • Chandra M. Hamzah
                                                                                                   • Iqbal Latanro
                                                                                                   • Ahdi Jumhari Luddin
                                                                                                   • Armand B. Arief
                                                                                                   • Andin Hadiyanto
4.    February 27, 2023   The Evaluation of the Existing BoD Nominated Talent                      • Sentot A. Sentausa
                                                                                                   • Herry Trisaputra Zuna
                                                                                                   • Himawan Arief Sugoto
                                                                                                   • Mohamad Yusuf Permana (as an
                                                                                                     observer)
                                                                                                   • Moch. Amin Nurdin

                                                                                                   • Chandra M. Hamzah
                                                                                                   • Iqbal Latanro
                          1.   The Proposal of Remuneration for the Board of Commissioners,        • Ahdi Jumhari Luddin
                               Directors, and Sharia Supervisory Board for 2023 and Tantiem        • Armand B. Arief
                               for the Board of Commissioners and Directors for the 2023           • Andin Hadiyanto
5.    March 1, 2023            Financial Year;                                                     • Sentot A. Sentausa
                          2.   Recommendations of Candidates for the Audit Committee               • Herry Trisaputra Zuna
                               Members;                                                            • Himawan Arief Sugoto
                          3.   Recommendations for the Existing BoD Nominated Talent;              • Mohamad Yusuf Permana (as an
                                                                                                     observer)
                                                                                                   • Moch. Amin Nurdin

                                                                                                   • Chandra M. Hamzah
                                                                                                   • Iqbal Latanro
                                                                                                   • Armand B. Arief
                                                                                                   • Andin Hadiyanto
                          1.   Recommendations for the Changes of Composition of the Sharia
                                                                                                   • Sentot A. Sentausa
6.    March 15, 2023           Supervisory Board
                                                                                                   • Herry Trisaputra Zuna
                          2.   Recommendations of Candidates for the Company Management
                                                                                                   • Himawan Arief Sugoto
                                                                                                   • Mohamad Yusuf Permana (as an
                                                                                                     observer)
                                                                                                   • Moch. Amin Nurdin

                                                                                                   • Chandra M. Hamzah
                                                                                                   • Iqbal Latanro
                                                                                                   • Armand B. Arief
                                                                                                   • Andin Hadiyanto
                          1.   Reviewing Proposal for the Changes of the Corporate Secretary       • Sentot A. Sentausa
7.    April 5, 2023       2.   Recommendations for the Changes of the Head Office                  • Herry Trisaputra Zuna
                               Organizational Structure                                            • Himawan Arief Sugoto
                                                                                                   • Mohamad Yusuf Permana (as an
                                                                                                     observer)
                                                                                                   • Moch. Amin Nurdin
                                                                                                   • Rahmayati




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                                                      Governance




 No.     Meeting Date                            Meeting agenda                                       Meeting participants

                                                                                             • Chandra M. Hamzah
                                                                                             • Iqbal Latanro
                                                                                             • Armand B. Arief
                                                                                             • Andin Hadiyanto
                                                                                             • Sentot A. Sentausa
 8.    April 12, 2023   Recommendation for Approval of the Change of Corporate Secretary     • Herry Trisaputra Zuna
                                                                                             • Himawan Arief Sugoto
                                                                                             • Mohamad Yusuf Permana (sebagai
                                                                                               pengamat)
                                                                                             • Moch. Amin Nurdin
                                                                                             • Rahmayati

                                                                                             • Chandra M. Hamzah
                                                                                             • Iqbal Latanro
                                                                                             • Armand B. Arief
                                                                                             • Andin Hadiyanto
                                                                                             • Sentot A. Sentausa
                        Recommendations for determining KPI Directors collegially and PMN
 9.    May 17, 2023                                                                          • Herry Trisaputra Zuna
                        KPI in 2023
                                                                                             • Himawan Arief Sugoto
                                                                                             • Mohamad Yusuf Permana (sebagai
                                                                                               pengamat)
                                                                                             • Moch. Amin Nurdin
                                                                                             • Rahmayati

                                                                                             • Chandra M. Hamzah
                                                                                             • Iqbal Latanro
                                                                                             • Armand B. Arief
                                                                                             • Andin Hadiyanto
                                                                                             • Sentot A. Sentausa
                        Recommendations for Changes of the Organizational Structure of
 10.   May 24, 2023                                                                          • Herry Trisaputra Zuna
                        CRSD Headquarters, CAMD 1 and CAMD 2
                                                                                             • Himawan Arief Sugoto
                                                                                             • Mohamad Yusuf Permana (sebagai
                                                                                               pengamat)
                                                                                             • Moch. Amin Nurdin
                                                                                             • Rahmayati

                                                                                             • Chandra M. Hamzah
                                                                                             • Iqbal Latanro
                                                                                             • Armand B. Arief
                                                                                             • Andin Hadiyanto
                        Recommendations of Candidates for Sharia Supervisory Board (DPS)
                                                                                             • Sentot A. Sentausa
 11.   June 07, 2023    Members of the Sharia Business Unit, PT Bank Tabungan Negara
                                                                                             • Herry Trisaputra Zuna
                        (Persero) Tbk
                                                                                             • Himawan Arief Sugoto
                                                                                             • Mohamad Yusuf Permana
                                                                                             • Moch. Amin Nurdin
                                                                                             • Rahmayati

                                                                                             • Chandra M. Hamzah
                                                                                             • Iqbal Latanro
                                                                                             • Armand B. Arief
                                                                                             • Andin Hadiyanto
                        In-depth Investigation of Recommendations of Candidates for Sharia
                                                                                             • Sentot A. Sentausa
 12.   June 14, 2023    Supervisory Board (DPS) Sharia Business Unit, PT Bank Tabungan
                                                                                             • Herry Trisaputra Zuna
                        Negara (Persero) Tbk
                                                                                             • Himawan Arief Sugoto
                                                                                             • Mohamad Yusuf Permana
                                                                                             • Moch. Amin Nurdin
                                                                                             • Rahmayati

                                                                                             • Chandra M. Hamzah
                                                                                             • Iqbal Latanro
                                                                                             • Ahdi Jumhari Luddin
                                                                                             • Armand B. Arief
                        Discussion on Determining the Income of Directors and Board of       • Andin Hadiyanto
 13.   July 05, 2023
                        Commissioners in 2023                                                • Sentot A. Sentausa
                                                                                             • Herry Trisaputra Zuna
                                                                                             • Himawan Arief Sugoto
                                                                                             • Mohamad Yusuf Permana
                                                                                             • Moch. Amin Nurdin




532       PT Bank Tabungan Negara (Persero) Tbk
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No.     Meeting Date                               Meeting agenda                                           Meeting participants
                                                                                                  • Chandra M. Hamzah
                                                                                                  • Iqbal Latanro
                                                                                                  • Armand B. Arief
                                                                                                  • Andin Hadiyanto
                         Progress on Special Policies of Income for Directors, Board
                                                                                                  • Sentot A. Sentausa
15.   August 21, 2023    of Commissioners, and Supporting Organs for the Board of
                                                                                                  • Herry Trisaputra Zuna
                         Commissioners.
                                                                                                  • Himawan Arief Sugoto
                                                                                                  • Mohamad Yusuf Permana
                                                                                                  • Moch. Amin Nurdin
                                                                                                  • Rahmayati
                                                                                                  • Chandra M. Hamzah
                                                                                                  • Iqbal Latanro
                         1.   Evaluation of the Performance of the Secretary and Secretariat      • Armand B. Arief
                              Staff of the Board of Commissioners                                 • Andin Hadiyanto
                         2.   Update on the Preparation of the Key Performance Indicators         • Sentot A. Sentausa
16.   October 11, 2023
                              (KPI) Assessment Format for Individual Members of the Board of      • Herry Trisaputra Zuna
                              Commissioners and Supporting Organ Committees of the Board          • Himawan Arief Sugoto
                              of Commissioners                                                    • Mohamad Yusuf Permana
                                                                                                  • Moch. Amin Nurdin
                                                                                                  • Rahmayati
                                                                                                  • Chandra M. Hamzah
                                                                                                  • Iqbal Latanro
                                                                                                  • Armand B. Arief
                                                                                                  • Andin Hadiyanto
                         Performance Assessment of the Secretary and Secretariat Staff of the     • Sentot A. Sentausa
17.   October 18, 2023
                         Board of Commissioners                                                   • Herry Trisaputra Zuna
                                                                                                  • Himawan Arief Sugoto
                                                                                                  • Mohamad Yusuf Permana
                                                                                                  • Moch. Amin Nurdin
                                                                                                  • Rahmayati
                                                                                                  • Chandra M. Hamzah
                                                                                                  • Iqbal Latanro
                                                                                                  • Armand B. Arief
                         1.   Approval of the Concurrent Positions of the Directors of PT Bank
                                                                                                  • Andin Hadiyanto
                              Tabungan Negara (Persero) Tbk
      November 01,                                                                                • Sentot A. Sentausa
18                       2.   Approval of the Addition of the Human Capital Business Partner
      2023                                                                                        • Herry Trisaputra Zuna
                              Division to the Organizational Structure of PT Bank Tabungan
                                                                                                  • Himawan Arief Sugoto
                              Negara (Persero) Tbk Head Office
                                                                                                  • Mohamad Yusuf Permana
                                                                                                  • Moch. Amin Nurdin
                                                                                                  • Rahmayati
                                                                                                  • Chandra M. Hamzah
                                                                                                  • Iqbal Latanro
                                                                                                  • Armand B. Arief
                                                                                                  • Andin Hadiyanto
                         Update on the Discussion on Approval of Concurrent Positions of          • Sentot A. Sentausa
19.   November 8, 2023
                         Directors of PT Bank Tabungan Negara (Persero) Tbk                       • Herry Trisaputra Zuna
                                                                                                  • Himawan Arief Sugoto
                                                                                                  • Mohamad Yusuf Permana
                                                                                                  • Moch. Amin Nurdin
                                                                                                  • Rahmayati

                                                                                                  • Chandra M. Hamzah
                                                                                                  • Iqbal Latanro
                                                                                                  • Armand B. Arief
                                                                                                  • Andin Hadiyanto
                         Discussion of the Tantiem Budget for the Directors and Board of
      November 21,                                                                                • Sentot A. Sentausa
20.                      Commissioners of PT Bank Tabungan Negara (Persero) Tbk in the
      2023                                                                                        • Herry Trisaputra Zuna
                         2024 Company Work, Plan & Budget (RKAP)
                                                                                                  • Himawan Arief Sugoto
                                                                                                  • Mohamad Yusuf Permana
                                                                                                  • Moch. Amin Nurdin
                                                                                                  • Rahmayati

                                                                                                  • Chandra M. Hamzah
                                                                                                  • Iqbal Latanro
                         1.   Appointment of Members of the Sharia Supervisory Board (DPS)        • Armand B. Arief
                              of the Sharia Business Unit (UUS), PT Bank Tabungan Negara          • Andin Hadiyanto
      November 29,            (Persero) Tbk; and                                                  • Sentot A. Sentausa
21.
      2023               2.   Determination of Remuneration for the Sharia Supervisory Board      • Herry Trisaputra Zuna
                              (DPS) of the Sharia Business Unit (UUS), PT Bank Tabungan           • Himawan Arief Sugoto
                              Negara (Persero) Tbk                                                • Mohamad Yusuf Permana
                                                                                                  • Moch. Amin Nurdin
                                                                                                  • Rahmayati




                                                                            PT Bank Tabungan Negara (Persero) Tbk                  533
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                                                                          Governance




     No.       Meeting Date                                         Meeting agenda                                                      Meeting participants
                                                                                                                          • Chandra M. Hamzah
                                                                                                                          • Iqbal Latanro
                                                                                                                          • Armand B. Arief
                                                                                                                          • Andin Hadiyanto
            December 06,              Performance Assessment of the Board of Commissioners' Supporting                    • Sentot A. Sentausa
     22.
            2023                      Organ Committees                                                                    • Herry Trisaputra Zuna
                                                                                                                          • Himawan Arief Sugoto
                                                                                                                          • Mohamad Yusuf Permana
                                                                                                                          • Moch. Amin Nurdin
                                                                                                                          • Rahmayati
                                      1.    Work Guidelines and Manual for the Board of Commissioners of
                                                                                                                          • Chandra M. Hamzah
                                            PT Bank Tabungan Negara (Persero) Tbk.
                                                                                                                          • Iqbal Latanro
                                      2.    Work Guidelines and Manual for the Remuneration and
                                                                                                                          • Armand B. Arief
                                            Nomination Committee of PT Bank Tabungan Negara (Persero)
                                                                                                                          • Andin Hadiyanto
                                            Tbk.
            December 13,                                                                                                  • Sentot A. Sentausa
     23.                              3.    Work Program for the Board of Commissioners of PT Bank
            2023                                                                                                          • Herry Trisaputra Zuna
                                            Tabungan Negara (Persero) Tbk for 2024
                                                                                                                          • Himawan Arief Sugoto
                                      4.    Work Program of PT Bank Tabungan Negara (Persero) Tbk
                                                                                                                          • Mohamad Yusuf Permana
                                            Remuneration and Nomination Committee in 2024
                                                                                                                          • Moch. Amin Nurdin
                                      5.    Guidelines for the Work Relation Pattern of the Board of
                                                                                                                          • Rahmayati
                                            Commissioners and Directors



MEETING FREQUENCY AND ATTENDANCE LEVEL OF THE REMUNERATION AND NOMINATION COMMITTEE
Table of Meeting Attendance Level of the Remuneration and Nomination Committee

                                                                                                Meeting of Remuneration and Nomination Committee

                                                                                                            Total and Percentage of Attendance
                  Name                                       Position
                                                                                                                      Total
                                                                                          Total Meeting                                          Percentage
                                                                                                                   Attendance
 Chandra M. Hamzah                            Chairman concurrently Member                       23                      23                         100%
 Iqbal Latanro                                Member                                             23                      23                         100%
 Ahdi Jumhari Luddin1                         Member                                              6                       6                         100%
 Armand B. Arief                              Member                                             23                      23                         100%
 Sentot A. Sentausa                           Member                                             23                      23                         100%
 Andin Hadiyanto                              Member                                             23                      23                         100%
 Herry Trisaputra Zuna                        Member                                             23                      23                         100%
 Himawan Arief Sugoto                         Member                                             23                      23                         100%
 Mohamad Yusuf Permana2                       Member                                             13                      13                         100%
 Moch. Amin Nurdin                            Member                                             23                      23                         100%
 Rahmayati                                    Ex-Officio Member                                  23                      16                         69,6%
Information:
1
    The presence of Mr. Ahdi Jumhari Luddin at the meeting due to health conditions until the person concerned died on August 12 2023
2
    Passing the Fit and Proper Test by FSA on June 07, 2023.




Work Plan and The Implementation of Duties of The Remuneration and Nomiination Committee In 2023


  No                    Work plan                        Implementation                                                 Information

 I         Reguler
                                                                                 Bank Indonesia DIR Decree No. 31/310/KEP/DIR of 1999 concerning the
           Reviewing Educational Agenda Plan                                     Provision of Funds for the Development of Human Resources for Commercial Banks
 1.                                                     Not Accomplished
           of 2023                                                               was declared to be revoked and invalid, so that the review of the 2023 Education
                                                                                 Activity Plan did not go through a decision of the Board of Commissioners
           Validating Proposed Selected Talent
  2.                                                    Accomplished             -
           BOD-1 Bank BTN
           Making Recommendation and
           Assessing BOC and BOD member
  3.       Candidates for Fit & Proper Test             Accomplished             -
           regarding AGMS or EGMS
           Implementation
           Reviewing Company Work Plan and
 4.        Budget (RKAP) and Bank Business              Accomplished             -
           Plans (RBB



534             PT Bank Tabungan Negara (Persero) Tbk
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  No                 Work plan                  Implementation                              Information
       Reviewing Sustainable Finance
 5.                                             Accomplished     -
       Action Plan (SFAP)
       Reviewing Collegial KPI and
 6.                                             Accomplished     -
       Individual BOD
       Determining Income for the Board
 7.    of Directors, Commissioners, and         Accomplished     -
       Supervisory
       Determining the Amount of Tantiem,
 8.    Bonus, and other incentives related to   Accomplished     -
       BOD and BOC
       Planning Work Program of the Board
 9.                                             Accomplished     -
       of Commissioners
 10.   Reporting Self Assessment of GCG         Accomplished     -
       Reporting of the Remuneration and
 11.                                            Accomplished     -
       Nomination Committee
 II    Non-Reguler
       Evaluating Policy /SOP Human
 12.                                            Accomplished     -
       Capital, Strategy, dan Learning
       Evaluating Policy /Implementation of
 13.                                            Accomplished     -
       Central Outsourcing SOP
       Performing the Appointment of
 14    Corporate Secretary Divison Head         Accomplished     -
       and Internal Audit Divison Head
       Performing the Appointment of SEVP
 15.   for some positions according to the      Accomplished     -
       new Organization structure
 III   Monitoring the Implementation of the Committee Recommendation
       Communicating with the Unit of
 16.                                            Accomplished     -
       Human Resource
 IV    Special Tasks and Others
       Conducting the Remuneration and
 17.                                            Accomplished     -
       Nomination Committee Meeting
       Performing Other Duties Assigned
 18.   by the Chairman of the Committee/        Accomplished     -
       Board of the Commissioners




Policy on the Succession Plan of The Board of Directors                3. Nominated Talent Cluster
                                                                          Nominated Talent will be validated and calibrated by the
In assisting the implementation of the duties of the Board of             Cluster Talent Committee (CTC) to become Eligible Talent.
Commissioners regarding the succession of the President Director       4. Eligible Talent
and other members of the Board of Directors in accordance with            Nominated Talent Clusters will be background checked by
the Minister of State-Owned Enterprises Regulation No. 3 of               KBUMN through the KBUMN Deputy for Human Resources &
2023 concerning Organs and Human Resources of State-Owned                 Information Technology (SDMTI) to become Eligible Talent.
Enterprises, the Remuneration and Nomination Committee                 5. Qualified Talent
implements the mechanism for the process of submitting                    Eligible Talent will undergo an Assessment at the Assessment
nominated talent as candidates for BUMN Directors, namely:                Center appointed by the Ministry of BUMN and then become
1. Selected Talent                                                        Qualified Talent.
    Determination of Selected Talent BoD-1 is carried out through
    Directors' Meetings at each BUMN.                                  In preparing candidates or successors for the Company's
2. Nominated Talent                                                    Directors, various Company talent developments are carried
    Review and Determination of BoD-1 Nominated Talent by              out, especially BOD-1, BOD-2 and Women Talent and Millennial
    the respective BUMN Board of Commissioners through the             Talent to increase Readiness Level and prepare them to become
    Remuneration and Nomination Committee.                             Nominated Talent, including through programs:




                                                                           PT Bank Tabungan Negara (Persero) Tbk               535
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The sources of Selected Talent and Nominated Talent from SOE           2. OJK Circular Letter No. 13/SEOJK.03/2017 dated March
are BOD-1 from SOE or SOE Subsidiaries which contribute                   17, 2017 on the Implementation of Governance for General
significantly and have strategic value or BOD-1 from SOE or SOE           Bank.
Subsidiaries which is applied the same as SOE in accordance            3. Regulation of the Minister of State-Owned Enterprises No.
with the Law.                                                             PER-2/MBU/03/2023 dated March 24, 2023 concerning
1. Expert Talk Session                                                    Guidelines for Governance and Significant Corporate
2. Project Asignment                                                      Activities of State-Owned Enterprises;
3. Cross mentoring                                                     4. Regulation of the Minister of State-Owned Enterprises No.
4. Roundtable Mentorship                                                  PER-3/MBU/03/2023 dated March 24, 2023 concerning
5. SESPIBANK                                                              Organs and Human Resources of State-Owned Enterprises;
6. Asesmen Orientation Day                                             5. Decree of the Deputy for Finance and Risk Management
Meanwhile, in the process of searching for BOD-1 Talent from              of the Ministry of State-Owned Enterprises No. SK-3/DKU.
external sources in 2023, where they will also be prepared to             MBU/05/2023 concerning Technical Instructions for the
become candidates for the Company's Directors (BOD) through a             Composition and Qualifications of Risk Management Organs
mechanism for developing and proposing nominated talents, the             within State-Owned Enterprises.
Company uses the services of a professional search company/            6. Company’s Articles of Association.
head hunter, namely PT Daya Dimensi Indonesia (DDI).
                                                                       Duties and Responsibilities of the Risk Monitoring
Risk Monitoring Committee                                              Committee

The Risk Monitoring Committee is a Supporting Organ formed             Referring to the Risk Monitoring Committee Charter, duties and
by and responsible to the Board of Commissioners whose task is         responsibilities of Risk Monitoring Committee are as follows:
to assist the Board of Commissioners in evaluating the suitability     1. Collecting and evaluating information, clarifications, and
of the Risk Management Policy with the implementation of that              documents and/or reports related to risk management
policy and monitoring as well as evaluating the implementation             implementation.
of the duties of the Risk Management Committee and the Risk            2. Evaluating the conformity between the Bank policy and
Management Work Unit.                                                      implementation of risk management.
                                                                       3. Monitoring and evaluating the duty accomplishment of
The purpose of establishing the Committee is to assist and                 the Risk Management Committee and working unit of risk
support the implementation of the duties and responsibilities of           management.
the Board of Commissioners in ensuring the implementation of           4. Monitoring the adequacy of identification process,
supervision and providing advice to the Board of Directors as              measurement, monitoring, control, and information system of
well as compliance with statutory regulations and the Company's            risk management.
internal regulations related to:                                       5. Encouraging the empowerment of the Bank’s risk management
1. Implementating a strong function of risk management                     function.
     supervision;                                                      6. Reporting to the Board of Commissioners about the possibility
2. Developing a risk management culture in order to reduce the             of Bank risk and proposing a variety of solutions
     possibility of unethical banking practices occurring; and         7. Conducting risk monitoring in the working unit which is closely
3. Identified matters related to risk management that require the          related to risk-based decision-making and cooperating with
     attention of the Board of Commissioners.                              risk management work unit.
                                                                       8. Reviewing, evaluating, and/or providing recommendation
Legal Basis for Establishing the                                           on matters which require approval, consultation, or decision
Risk Monitoring Committee                                                  making by the Board of Commissioners in accordance with
                                                                           the Articles of Association, Working Relationship of the Board
The Company establishes Risk Monitoring Committee under the                of Commissioners and Directors, and regulator’s decree.
    following legal bases:                                             9. Performing other duties assigned by the Board of
1. OJK Regulation No 17 of 2023 dated September 14,                        Commissioners within the relevant scope of duties of risk
    2023 concerning the Implementation of Governance for                   management.
    Commercial Banks.




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                                                                                                  2023 Annual Report




Work Guidelines and Manual of the Risk Monitoring Committee

The Risk Monitoring Committee's Work Guidelines and Manual are prepared based on applicable regulations and legislation and
are always reviewed periodically, which was most recently updated based on the Decree of the Board of Commissioners No 08/
KOM/BTN/2023 dated December 13, 2023 concerning Work Guidelines and Manual for the Risk Monitoring Committee of
PT Bank Tabungan Negara (Persero) Tbk, with the following contents:
                                                                     Article 1 Definition
 Chapter I General Provision
                                                                     Article 2 Objectives
                                                                     Article 3 Duties and Responsibilities
 Chapter II Duty, Responsibility, and Authority
                                                                     Article 4 Authority
                                                                     Article 5 Composition and Structure

 Chapter III Structure and Membership                                Article 6 Membership Requirements

                                                                     Article 7 Term of Office

                                                                     Article 8 Work Mechanism

 Chapter IV Work Mechanism and Relationship                          Article 9 Employment Relations

                                                                     Article 10 Supporting Personnel

                                                                     Article 11 Work Plan and Budgeting

                                                                     Article 12 Committee Meetings
 Chapter V Work Plan and Implementation
                                                                     Article 13 Report

                                                                     Article 14 Evaluation
                                                                     Article 15 Competency Development
 Chapter VI Competency Development and Income
                                                                     Article 16 Income

 Chapter VII Others                                                  Article 17 Closing



Authorities of the Risk Monitoring Committee

accomplishing its function, the Risk Management Committee holds the following authority to:
1. Access all relevant information related to Bank regarding the duty and function of the Risk Management Committee.
2. Communicate with the Directors and/or Executives and internal Bank parties to obtain necessary information, clarifications,
   documents, and reports.
3. Obtain inputs and/or suggestions from the Bank’s external parties related to the duty of the Risk Management Committee.


Term of Office of the Risk Monitoring Committee

1. The term of office of the Committee members serving as a concurrent member of the Board of Commissioners automatically ends
   once their position as members of the Board of Commissioners ends;
2. The term of office of the Committee members who has not served as concurrent members of the Board of Commissioners is 3 (three)
   years at the maximum and is extendable to once for 2 (two) terms of office provided that the Board of Commissioners is still entitled
   to dismiss the respected Committee members at any time;
3. If a member of the Board of Commissioners holds a concurrent position as the chairman of the Committee releases his status as a
   member of the Board of Commissioners, the position of the Committee chairman must be replaced by another member of the Board
   of Commissioners within maximum of 30 (thirty) days.


Structure, Membership, and Expertise of the Risk Monitoring Committee

 Table of the Risk Monitoring Committee’s Structure, Membership, and Expertise

         Name                        Position              Information               Expertise                     Basis of Appointment

                                                                            Banking, Risk                    Board of Commissioners Letter No.
                                                          Independent
 Armand B. Arief          Chairman concurrent member                        Management, Business             03/KOM/BTN/I/2020 dated
                                                          Commissioner
                                                                            Management                       January 08, 2020

                                                                            Macroeconomics,                  Board of Commissioners Decree No
 Herry Trisaputra Zuna    Member                          Commissioner      Management, Public               04/KOM/BTN/2022 dated March
                                                                            Works and Housing                17, 2022




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          Name                              Position                    Information                 Expertise                   Basis of Appointment

                                                                                           Management and
                                                                                           Business, Risk                Board of Commissioners Decree No.
 Himawan Arief Sugoto         Member                                  Commissioner         Management, Finance,          04/KOM/BTN/2022 dated March
                                                                                           Agrarian and Spatial          17,2022
                                                                                           Planning

                                                                                           Risk Management,
                                                                      Independent                                        Directors' Decree No. 1002/
 Ignace Widiatmoko            Member                                                       Banking, Finance, Sharia
                                                                      Party                                              DIR/2021 dated November 8, 2021
                                                                                           Banking

                                                                                           Banking, Risk                 Directors' Decree No. 1067/
                                                                      Independent
 Pamuji Gesang Raharjo        Member                                                       Management, Finance,          DIR/2021 dated December 1,
                                                                      Party
                                                                                           Sharia Banking                2021


Profile of the Risk Monitoring Committee

Profile of the Risk Monitoring Committee as of December 31, 2023 is as follows.

                             Profile is available in the Profile of the Board              HIMAWAN ARIEF           Profile is available in the Profile of the Board
  ARMAND B. ARIEF
                             of Commissioners section.                                         SUGOTO              of Commissioners section.
     Head of the
                             His tenure as Chairman concurrent member                       Member of the          His tenure as a member of Risk Monitoring
   Risk Monitoring
                             of Risk Monitoring Committee is November                      Risk Monitoring         Committee is March 02, 2022 – March 01,
      Committee
                             27, 2019 – November 26, 2024.                                    Committee            2027



  HERRY TRISAPUTRA           Profile is available in the Profile of the Board
        ZUNA                 of Commissioners section.
    Member of the            His tenure as a member of Risk Monitoring
   Risk Monitoring           Committee is March 02, 2022 – March 01,
      Committee              2027




                                                                          Educational background
                                                                          •     Bachelor of Corporate Economics, Diponegoro University, Semarang (1984)
                                                                          •     Master of Business Administration di Rutgers The State University (1995)


                                                                          Work experience
                                                                          • Vice President of Risk Management of Bank Mandiri (2007-2015);
                                                                          • Commissioner of PT Resik Guna Maju (2015-2018);
                                                                          • Managing Director PT Gedung Bank Exim (2015-2018);
                                                                          • Risk Monitoring Committee and Audit Committee of Rabobank International
                                                                            Indonesia (2018-2020);
                                                                          • Risk Monitoring Committee of Industrial Commercial of Bank of China Indonesia
                                                                            (2018-2021);
                                                                          • Risk Monitoring Committee and Audit Committee of Bank Victoria International Tbk
Ignace Widiatmoko                                                           (2021).
Member of the Risk Monitoring Committee

Indonesian citizen, 63 years old, domiciled in
                                                                          Certification
South Tangerang City, Banten                                              • Certification in Audit Committee Practices (CACP) from IKAI (2019)
                                                                          • Certification of Banking Risk Management Level 4 from BNSP (2019)

                                                                          Period and Term of Office

                                                                          First Period with Term of Office of November 07, 2021 – November 06, 2024

                                                                          Legal Basis for Appointment
                                                                          Board of Directors Decree Number 1002/DIR/2021 dated November 8, 2021
                                                                          concerning the Appointment of Mr. Ignace Widiatmoko as Member of the Risk
                                                                          Monitoring Committee



                                                                          Concurrent Position
                                                                          None




538           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                         2023 Annual Report




                                                                 Educational background
                                                                 •   Bachelor of Economics, University of Dr. Moestopo (1996)
                                                                 •   Master of Risk Management, University of Indonesia (2003)
                                                                 •   Doctor of Business and Management (Finance) Bogor Agricultural University
                                                                     (2014)

                                                                 Pengalaman Kerja
                                                                 • General Manager of Risk Management Perum Pegadaian (2010 – 2011);
                                                                 • Director of Risk Management Center Indonesia (2009 – 2011);
                                                                 • Member of Risk Monitoring Committee of PT Bank Rakyat Indonesia (Persero) Tbk
                                                                   (2007 – 2010 and 2011 – 2016);
                                                                 • Member of Audit Committee of PT Bank Rakyat Indonesia (Persero) Tbk
                                                                   (2016 – 2021);

Pamuji Gesang Raharjo                                            Certification
Member of the Risk Monitoring Committee                          • Certification in Audit Committee Practices (2022);

Indonesian citizen, 55 years old, domiciled in                   • Level 3 Banking Risk Management Certification from BNSP (2021);
Central Jakarta City, DKI Jakarta                                • Certified of Investment Market and Banking Analyst (CIMBA) Investment Market
                                                                   and Banking Analyst Association (2014);
                                                                 • Certified of Financial Consultant (CFC) Institute of Financial Consultant from IFC (2013);
                                                                 • Risk Management Certification Level 4 Risk Management Certification Body from BSMR
                                                                    (2009).

                                                                 Period and Term of Office

                                                                 First Period with Term of Office: November 30, 2021 - November 29, 2024

                                                                 Legal Basis for Appointment
                                                                 Board of Directors Decree Number 1067/DIR/2021 dated December 1 2021
                                                                 concerning the Appointment of Mr. Pamuji Gesang Raharjo as Member of the Risk
                                                                 Monitoring Committee

                                                                 Concurrent Position
                                                                 None




Independency of The Risk Monitoring Committee

Table of Risk Monitoring Committee’s Independency
                                                 Armand B.                                Himawan Arief              Ignace             Pamuji Gesang
       Aspect of Independency                                Herry Trisaputra Zuna
                                                   Arief                                     Sugoto                Widiatmoko              Raharjo
 Having no financial Association with
 the Board of Commissioners and                     √                   √                         √                      √                     √
 Directors
 Having no management relation in
 the company, subsidiary company, or                √                   √                         √                      √                     √
 affiliated company
 Has no ownership relationship
 shares in the company of 5% or more                √                   √                         √                      √                     √
 Not having familial relationship
 with the Board of Commissioners,
 Directors, and/or fellow members of                √                   √                         √                      √                     √
 the Risk Monitoring Committee
 Not serving as administrators of
 political parties, public officials and            √                   √                         √                      √                     √
 government




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Training and/or Competency Development for The Risk Monitoring Committee In 2023


                                         Types of Training and Development
                                                                                           Time and place
       Name               Position                    Materials                                                            Organizer
                                                                                           Implementation
                                               Competency / Training
                     Chairman
                                     Education and/or Competency Development can be seen in the Education and/or Competency
 Armand B. Arief     concurrently
                                     Development section of the Board of Commissioners
                     Member

 Herry Trisaputra                    Education and/or Competency Development can be seen in the Education and/or Competency
                     Member
 Zuna                                Development section of the Board of Commissioners

 Himawan Arief                       Education and/or Competency Development can be seen in the Education and/or Competency
                     Member
 Sugoto                              Development section of the Board of Commissioners

                                                                                        January 17, 2023 via
 Ignace Widiatmoko   Member          OJK Webinar - Banking Trends in 2023                                          OJK
                                                                                        Zoom Meeting

                                     Kick Off, Risk Management Profession Meeting
                                     "Challenges and Opportunities for the Risk         March 03, 2023 via
                                                                                                                   IRMAPA
                                     Management Profession in Achieving Sustainable     Zoom Meeting
                                     Financial Goals"

                                     Webinar OJK - How to Manage Climate Related        June 22, 2023 via
                                                                                                                   OJK
                                     Risk in Banking Industry                           Zoom Meeting

                                                                                        July 05, 2023 - July 06,
                                     Building Resilience in TUNA World                  2023 at Tentrem Hotel      YPIA
                                                                                        Yogyakarta

                                     Webinar on the Effectiveness of Digital Maturity
                                                                                        August 28, 2023 via
                                     Assessment in Measuring the Maturity of Banking                               FKDKP
                                                                                        Zoom Meeting
                                     Digital Transformation

                                     GRC Masterclass Program 2023 “Risk                 September 07, 2023
                                                                                                                   BSE BUMN
                                     Management Effectiveness Evaluation”               via Zoom Meeting

                                                                                        September 15, 2023 -
                                                                                        September 16, 2023 at
                                     Board of Commissioner Forum 2023                   Ayana Hotel Waecicu        LPPI
                                                                                        Beach, Labuan Bajo,
                                                                                        NTT

                                     GRC Masterclass Program 2023 “ESG for Boards       September 27, 2023
                                                                                                                   BSE BUMN
                                     – Governance of ESG”                               via Zoom Meeting

                                                                                        October 19, 2023 at
                                     Workshop Islamic Banking for Executive                                        PEBS FEB UI
                                                                                        the Langham Hotel

 Pamuji Gesang                                                                          January 17, 2023 via
                     Member          OJK Webinar - Banking Trends in 2023                                          OJK
 Raharjo                                                                                Zoom Meeting

                                     Kick Off, Risk Management Profession Meeting
                                     "Challenges and Opportunities for the Risk         March 03, 2023 via
                                                                                                                   IRMAPA
                                     Management Profession in Achieving Sustainable     Zoom Meeting
                                     Financial Goals"

                                     OJK Webinar - Strengthening National Resilience    May 22, 2023 via
                                                                                                                   OJK
                                     in the Financial Services Industry                 Zoom Meeting

                                     OJK Webinar - Building Customer Confidence in      May 30, 2023 via
                                                                                                                   OJK
                                     Digital Assets and Cyber Risk                      Zoom Meeting

                                     Webinar LPPI - Anti Money laundering in Digital    June 04, 2023 via
                                                                                                                   LPPI
                                     Era                                                Zoom Meeting

                                     Webinar OJK - How to Manage Climate Related        June 22, 2023 via
                                                                                                                   OJK
                                     Risk in Banking Industry                           Zoom Meeting

                                     OJK Webinar - Learn More about the Regulations
                                                                                        June 22, 2023 via
                                     on the P2SK Law in the Context of Strengthening                               OJK
                                                                                        Zoom Meeting
                                     the Banking Sector

                                                                                        July 05,2023 - July 06,
                                     Building Resilience in TUNA World                  2023 at Hotel Tentrem      YPIA
                                                                                        Yogyakarta

                                                                                        September 15, 2023 -
                                                                                        September 16, 2023 at
                                     Board of Commissioner Forum 2023                   Ayana Hotel Waecicu        LPPI
                                                                                        Beach, Labuan Bajo,
                                                                                        NTT




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                                                Types of Training and Development
                                                                                                 Time and place
        Name                Position                         Materials                                                          Organizer
                                                                                                 Implementation
                                                      Competency / Training
                                           OJK Webinar - Metaverse Opportunities in the       November 05, 2023
                                                                                                                         OJK
                                           Financial Services Industry                        via Zoom Meeting

                                                                                              October 19, 2023 at
                                           Workshop Islamic Banking for Executive                                        PEBS FEB UI
                                                                                              the Langham Hotel

                                                                                              October 27, 2023
                                           LPPI Seminar - IRMO 2024 Risk Management
                                                                                              at the Rachmat Saleh       LPPI
                                           Refreshment Program
                                                                                              Auditorium



The Risk Monitoring Committee’s Meeting

The meeting of the Risk Monitoring Committee is conducted                  The Committee meeting result must be in writing in the form
by at least fulfilling the minimum requirement from the Board              of the Minutes of Meeting signed by all Committee attendees,
of Commissioners stipulated in the Company’s Articles of                   and shall be well-documented, and submitted to the Board of
Association. The meeting of the Risk Monitoring Committee                  Commissioners. The Minutes of Meeting includes information
is considered legitimate if attended by at least 51% (fifty-               about time and place of the meeting, meeting agenda, topic of
one percent) of total Committee members including 1 (one)                  discussion, dissension (if any), and meeting decision. Dissenting
Independent Commissioner and 1 (one) Independent Party.                    opinion occurring during the meeting must be clearly recorded in
                                                                           the Minutes, along with the underlying reasons.
If members of the Risk Monitoring Committee are unable to
physically attend the meeting, they may attend through the                 The Risk Monitoring Committee is allowed to conduct special meeting
power of attorney, teleconferences technology, and other means             if necessary. Committee meeting may invite the management or
in accordance with the legal procedure and constitution.                   other parties as resource person. The meeting is held by invitation
                                                                           and approved agenda, and the meeting outcome has to be
The meeting is chaired by the Chairman of the Committee. In                recorded in the Minutes of Meeting. The original document must be
the event that the chairman is unable to be present, the meeting           possessed by the Committee, and the carbon copy shall be sent to
shall be chaired by a member of the Committee appointed by                 the Secretary of the Board of Commissioners and, if necessary, can
the attending members. The decision of the Committee meeting is            be shared to the absent invitees.
made based on deliberation and consensus. When no consensus
is reached, decision-making is made through voting under one
man one vote principle.




THE RISK MONITORING COMMITTEE’S MEETING AGENDA
During 2023, the Risk Monitoring Committee has held 52 (fifty two) meetings so that it has fulfilled the requirements for holding meetings at
least 1 (one) time in 1 (one) month. The meeting agenda includes the implementation of the committee's duties and responsibilities as follows:

Table of the Risk Monitoring Committee’s Meeting Agenda

  No.       Date of Meeting                                      Meeting Agenda                                          Meeting Attendee

                                                                                                                     • Armand B. Arief
                                                                                                                     • Herry Trisaputra Zuna
                                   Drafting of Self-Assessment Implementation of Bank Governance Period of
   1.    January 11, 2023                                                                                            • Himawan Arief Sugoto
                                   January up to December 2022- Risk Monitoring Committee Part
                                                                                                                     • Ignace Widiatmoko
                                                                                                                     • Pamuji Gesang Raharjo

                                                                                                                     • Armand B. Arief
                                                                                                                     • Herry Trisaputra Zuna
   2.    January 25, 2023          Review on the Company's Operational Strategic Plans & Programs                    • Himawan Arief Sugoto
                                                                                                                     • Ignace Widiatmoko
                                                                                                                     • Pamuji Gesang Raharjo

                                                                                                                     • Armand B. Arief
                                                                                                                     • Herry Trisaputra Zuna
                                   Report Preparation on the Execution of Risk Monitoring Committee Performance
   3.    January 30, 2023                                                                                            • Himawan Arief Sugoto
                                   Quarter IV of 2022 and the 2022 Period
                                                                                                                     • Ignace Widiatmoko
                                                                                                                     • Pamuji Gesang Raharjo




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 No.     Date of Meeting                                  Meeting Agenda                                       Meeting Attendee

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
 4.    February 06, 2023   Review on the 2022 Semester II Compliance Report                                • Himawan Arief Sugoto
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
                           Review on Risk Profile, Minimum Capital Requirement (KPMM), and Bank
 5.    February 13, 2023                                                                                   • Himawan Arief Sugoto
                           Soundness Level (TKB) Position December 2022
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
                           Review on the Meeting Decision of Credit Committee for the period of December
 6.    February 20, 2023                                                                                   • Himawan Arief Sugoto
                           2022
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
 7.    February 21, 2023   Review on Loan at Risk (LAR) Projections for 2023                               • Himawan Arief Sugoto
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
                           Review on the Meeting Decision of Credit Committee for the period of January
 8.    February 27, 2023                                                                                   • Himawan Arief Sugoto
                           2023
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
 9.    March 15, 2023      Review on Credit or Funding Application to Customer or Relevant Parties         • Himawan Arief Sugoto
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
                           Review on the Meeting Decision of Credit Committee for the period of February
 10.   April 03, 2023                                                                                      • Himawan Arief Sugoto
                           2023
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
 11.   April 10, 2023      Review on Credit or Funding Application to the Executives                       • Himawan Arief Sugoto
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
                           Report Preparation on the Execution of Risk Monitoring Committee Performance
 12.   May 02, 2023                                                                                        • Himawan Arief Sugoto
                           Quarter I of 2021
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
 13.   May 10, 2023        Review on Credit or Funding Application to the Executives                       • Himawan Arief Sugoto
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Himawan Arief Sugoto
 14.   May 10, 2023        Review on the Compliance Report Quarter I of 2023
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
 15.   May 17, 2023        Review on Bank Risk Profile Parameters and Limits                               • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
                                                                                                           • Herry Trisaputra Zuna
                           Review on the Meeting Decision of Credit Committee for the period of March up
 16.   June 05, 2023                                                                                       • Himawan Arief Sugoto
                           to April 2023
                                                                                                           • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo

                                                                                                           • Armand B. Arief
 17.   June 06, 2023       Information Technology Reliability and Security                                 • Ignace Widiatmoko
                                                                                                           • Pamuji Gesang Raharjo




542       PT Bank Tabungan Negara (Persero) Tbk
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No.      Date of Meeting                                  Meeting Agenda                                             Meeting Attendee

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
                           Review on the Credit or Financing Write-Off Implementation Report for the Period
18    June 19, 2023                                                                                           • Himawan Arief Sugoto
                           of January up to April 2023
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
                           Review on the Proposed Changes to the Bank's Business Plan (RBB) for 2023—
19.   June 21, 2023                                                                                           • Himawan Arief Sugoto
                           2025 and Changes to the Company's Work, Plan & Budget (RKAP) for 2023
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Himawan Arief Sugoto
20.   July 05, 2023        Progress Implementation of New Policy Architecture
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
21.   July 10, 2023        Review on the Meeting Decision of Credit Committee for the period of May 2023      • Himawan Arief Sugoto
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
                           Recommendation on the Report of ISO Management Review Meeting
22.   July 12, 2023                                                                                           • Himawan Arief Sugoto
                           37001:2016 Anti-Bribery Management System (ABMS)
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                           Review on Threshold Risk Tolerance on the Ratio of Liquid Assets to Third Party
23.   July 13, 2023                                                                                           • Ignace Widiatmoko
                           Funds
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
                           Drafting of Self-Assessment Implementation of Bank Governance Period of
24.   July 24, 2023                                                                                           • Himawan Arief Sugoto
                           January up to June 2023 - Risk Monitoring Committee Part
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
25.   July 26, 2023        Review on the Meeting Decision of Credit Committee for the period of June 2023     • Himawan Arief Sugoto
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
26.   July 27, 2023        Discussion of the Commercial Credit Business Process                               • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
27.   August 01, 2023      Review on the Compliance Report Quarter II and Semester 1 of 2023.                 • Himawan Arief Sugoto
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
                           Review on Risk Profile, Minimum Capital Requirement (KPMM), and Bank
28.   August 08, 2023                                                                                         • Himawan Arief Sugoto
                           Soundness Level (TKB) Position June 2023
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
                           Report Preparation on the Execution of Risk Monitoring Committee Performance
29.   August 24, 2023                                                                                         • Himawan Arief Sugoto
                           Quarter II of 2023
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
30.   August 28, 2023      Review on the Meeting Decision of Credit Committee for the period of July 2023     • Himawan Arief Sugoto
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo

                                                                                                              • Armand B. Arief
                                                                                                              • Herry Trisaputra Zuna
31.   September 04, 2023   Recommendations of Source Code Information for the Sigma Syariah Application       • Himawan Arief Sugoto
                                                                                                              • Ignace Widiatmoko
                                                                                                              • Pamuji Gesang Raharjo




                                                                          PT Bank Tabungan Negara (Persero) Tbk                     543
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                                                       Corporate
                                                       Governance




No.      Date of Meeting                                  Meeting Agenda                                           Meeting Attendee

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Recommendations for the initiation of the Board of Directors' decision regarding
 32.   September 06, 2023                                                                                      • Himawan Arief Sugoto
                            the General Policy for the Management of Subsidiaries and Sharia Business Units
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
 33.   September 12, 2023   Review on Credit and Financing Quality Projections for 2023                        • Himawan Arief Sugoto
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Recommendations for the Initiation of Directors' Decrees regarding General Legal
 34.   September 12, 2023                                                                                      • Himawan Arief Sugoto
                            Policy, Compliance, APU, PPT, and PPSPM, as well as Corporate Governance
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
 35.   September 18, 2023   Recommendations for Information on Incomplete Customer Data                        • Himawan Arief Sugoto
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Recommendations on Board of Directors Regulations concerning Special Policies
 36.   September 25, 2023                                                                                      • Himawan Arief Sugoto
                            on Cooperation Procedures with Partners
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Review on the Meeting Decision of Credit Committee for the period of August
 37.   September 27, 2023                                                                                      • Himawan Arief Sugoto
                            2023
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Recommendations for the Initiation of the Board of Directors' Decree concerning
 38.   October 09, 2023                                                                                        • Himawan Arief Sugoto
                            General Risk Management Policy
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Discussion of Findings and Recommendations for Governance of the Sentul Data       • Himawan Arief •
 39.   October 16, 2023
                            Center and Surabaya Data Recovery Center                                             Sugoto
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Review on the Meeting Decision of Credit Committee for the period of September
 40.   October 30, 2023                                                                                        • Himawan Arief Sugoto
                            2023
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Report Preparation on the Execution of Risk Monitoring Committee Performance
 41.   October 31, 2023                                                                                        • Himawan Arief Sugoto
                            Quarter III of 2023
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
 42.   November 14, 2023    Recommendations for Initiating Risk Appetite and Risk Tolerance in 2024            • Himawan Arief Sugoto
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Recommendations for the Bank's Business Plan for 2024-2026 and the
 43.   November 20, 2023                                                                                       • Himawan Arief Sugoto
                            Company's Work, Plan & Budget for 2024
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo

                                                                                                               • Armand B. Arief
                                                                                                               • Herry Trisaputra Zuna
                            Review on the Meeting Decision of Credit Committee for the period of October
 44.   November 23, 2023                                                                                       • Himawan Arief Sugoto
                            2023
                                                                                                               • Ignace Widiatmoko
                                                                                                               • Pamuji Gesang Raharjo




544      PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                   2023 Annual Report




  No.       Date of Meeting                                   Meeting Agenda                                            Meeting Attendee

                                                                                                                 • Armand B. Arief
                                                                                                                 • Herry Trisaputra Zuna
  45.    November 27, 2023      Recommendations for the 2024 Sustainable Finance Action Plan                     • Himawan Arief Sugoto
                                                                                                                 • Ignace Widiatmoko
                                                                                                                 • Pamuji Gesang Raharjo

                                                                                                                 • Armand B. Arief
                                                                                                                 • Herry Trisaputra Zuna
  46.    November 28, 2023      Recommendations for Initiating the 2024 Action Plan (Recovery Plan).             • Himawan Arief Sugoto
                                                                                                                 • Ignace Widiatmoko
                                                                                                                 • Pamuji Gesang Raharjo

                                                                                                                 • Armand B. Arief
                                Recommendations for Initiating Special Policies on Procedures for Implementing   • Herry Trisaputra Zuna
  47.    December 01, 2023      the AML, PPT & PFWMD Programs and Technical Instructions for Implementing        • Himawan Arief Sugoto
                                the AML, PPT & PFWMD Programs                                                    • Ignace Widiatmoko
                                                                                                                 • Pamuji Gesang Raharjo

                                                                                                                 • Armand B. Arief
                                                                                                                 • Herry Trisaputra Zuna
                                Review on the Meeting Decision of Credit Committee for the period of October
  48.    December 04, 2023                                                                                       • Himawan Arief Sugoto
                                2023
                                                                                                                 • Ignace Widiatmoko
                                                                                                                 • Pamuji Gesang Raharjo

                                                                                                                 • Armand B. Arief
                                                                                                                 • Herry Trisaputra Zuna
                                Recommendation on the Report of ISO Management Review Meeting
  49.    December 06, 2023                                                                                       • Himawan Arief Sugoto
                                37001:2016 Anti-Bribery Management System (ABMS)
                                                                                                                 • Ignace Widiatmoko
                                                                                                                 • Pamuji Gesang Raharjo

                                                                                                                 • Armand B. Arief
                                                                                                                 • Herry Trisaputra Zuna
  50.    December 11, 2023      Drafting the Risk Monitoring Committee Work Guidelines and Manual                • Himawan Arief Sugoto
                                                                                                                 • Ignace Widiatmoko
                                                                                                                 • Pamuji Gesang Raharjo

                                                                                                                 • Armand B. Arief
                                                                                                                 • Herry Trisaputra Zuna
  51.    December 13, 2023      Drafting the Risk Monitoring Committee Work Program for 2024                     • Himawan Arief Sugoto
                                                                                                                 • Ignace Widiatmoko
                                                                                                                 • Pamuji Gesang Raharjo

                                                                                                                 • Armand B. Arief
                                                                                                                 • Herry Trisaputra Zuna
  52.    December 27, 2023      Review on Credit or Funding Application to the Executives                        • Himawan Arief Sugoto
                                                                                                                 • Ignace Widiatmoko
                                                                                                                 • Pamuji Gesang Raharjo


MEETING FREQUENCY AND ATTENDANCE LEVEL OF THE RISK MONITORING COMMITTEE
Table of the Risk Monitoring Committee’s Meeting Frequency and Attendance Level
                                                                                   Risk Monitoring Committee Meeting
          Name                        Position
                                                                  Total Meeting              Total Attendance                Percentage
 Armand B. Arief          Chairman concurrently Member                  52                             52                       100%

 Herry Trisaputra Zuna    Member                                        52                             46                      88,5%

 Himawan Arief Sugoto     Member                                        52                             48                      92,3%

 Ignace Widiatmoko        Member                                        52                             52                       100%

 Pamuji Gesang Raharjo    Member                                        52                             52                       100%

Work Plan and the Implementation of Duties of the Risk Monitoring Committee of 2023

In 2023, the Committee has implemented the work program that was prepared in the previous year. Most of the work programs have
been implemented, but there are several work programs that have not been implemented because there is no urgent need and/or
initiation from the relevant work units has been delayed. Details of the work program and implementation realization are presented as
follows:




                                                                              PT Bank Tabungan Negara (Persero) Tbk                    545
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                                                              Corporate
                                                              Governance




No                    Work plan                        Implementation                                    Information
1     REGULER

      a   Reviewing Risk Profile Report               Accomplished         -


      b   Reviewing Bank Soundness Level Report       Accomplished         -


          Delivering review and inputs to the
      c   Board of Commissioners regarding Risk       Accomplished         -
          Appetite and Risk Tolerance



          Reviewing Company Bank Business
      d   Plans (RBB) and Work Plan & Budget          Accomplished         -
          (RKAP)



          Reviewing Sustainable Finance Action
      e                                               Accomplished         -
          Plan (SFAP)


      f   Reviewing Initial Recovery Plan             Accomplished         -


                                                                           The resolution plan is periodically updated every 2 (two) years, and there
      g   Reviewing Initial Recovery Plan             Not Accomplished     was no significant conditions that required updating the resolution plan
                                                                           in 2023.



          Re-assessment of the Risk Management
      h                                               Accomplished         -
          Policy Guidelines (PKMR)


      i   Review on Compliance Reports                Accomplished         -


          Submission of Self-Assessment Report
      j                                               Accomplished         -
          on Implementation of Bank Governance


2     Non-Reguler

      a   Strategic Initiation and New Regulations

          •     Review on Commercial Credit
                                                      Not Accomplished     There has been no initiation from the relevant work unit
                Early Warning System

          •     Review on Scoring Model SME           Not Accomplished     There has been no initiation from the relevant work unit

          General  and    Specific           Policy
      b
             Recommendations:

          •     Special Policy on AML-CTF             Accomplished             -

          •     Special Policies on         Partner
                                                      Accomplished             -
                Cooperation Procedures

          •     General Risk Management Policy        Accomplished             -



                                                                           Credit or financing policies are periodically reviewed every 2 (two) years,
          •     General Credit Policy                 Not Accomplished     and there were no significant conditions causing these policies to be
                                                                           reviewed and/or updated in 2023.




          •     Special   Integrated    Governance                         Due to the absence of a Company business group, the preparation of this
                                                      Not Accomplished
                Policy                                                     policy would be carried out in the following year.




546       PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                          2023 Annual Report




  No                    Work plan                         Implementation                                    Information

 3      Monitoring the Implementation of Committee Recommendation

        Communicating with the Working Unit of
                                                         Accomplished          -
        Risk Management

 4      Discussion on Top Risk of Risk-Taking Unit
        Requesting an explanation to the Risk
                                                         Accomplished          -
        Management Work Unit

 5      Special Duties and Others

        a    Risk Monitoring Committee Meeting           Accomplished          -

             Other Duties of the Chairman of the
        b                                                Accomplished          -
             Committee/ Board of Commissioners



Organs and Committees Under the Directors

Corporate Secretary

As a supporting organ to the Board of Directors in the implementation of good corporate governance, the Corporate Secretary has
a significant role in ensuring that the Company has been following the regulations related to the disclosure requirements in line with
the implementation of GCG principles. The Corporate Secretary has to perform corporate's responsibilities regarding the disclosure
of materials and relevant information to the stakeholders. The Corporate Secretary also provides relevant information to the Board of
Directors and Board of Commissioners, organizes the information, coordinates, and documents the meeting of the Board of Directors, the
joint meeting of the Board of Directors and the Board of Commissioners, GMS, and other activities with stakeholders.


The Structure of the Corporate Secretary

The Corporate Secretary is managed by the Corporate Secretary Division (CSD) which is led by the Corporate Secretary Division Head
(dhi. Corporate Secretary), and is responsible to the President Director in carrying out his/her duties. The Corporate Secretary is assisted
by a Senior Manager/Assistant Vice President who is responsible for each work unit including Planning & Operations, Reporting &
Community Development, and Communication.



                                                                      Corporate Secretary

       L1                        Dewan Pengawas
                                    Secretary
                                     Syariah




       L2                             Planning &                           Commmunity
                                                                          Development &                    Communication
                                      Operations
                                                                            Reporting



                                                     Planning &                       Capital Market                       Internal
                                                     budgetting                         Assurance                       Communication




                                                                                                                           Stakeholder
                                                      Protocol                      Sustainable Finance                      Relation

        L3

                                                                                     Executive Comitter                 Media and Public
                                                Executive Secretary
                                                                                          Support                          Relation




                                                Executive Assistant                        Community
                                                                                          Development




                                                                                    PT Bank Tabungan Negara (Persero) Tbk                  547
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                                                           Corporate
                                                           Governance




Functions, Duties, and Responsibilities of the Corporate Secretary

In carrying out its duties and responsibilities, the Corporate Secretary also refers to the OJK Regulation No.35/POJK.04/2014, dated
December 8, 2014, concerning Corporate Secretary of Issuers or Public Companies. Based on these regulations, the Corporate Secretary
shall perform its duties and responsibilities, which include:
1. Following-up the progress of the capital market, particularly in terms of the laws and regulations applied in the capital market sector.
2. Providing input to the Company's Directors and Board of Commissioners for Complying with the provisions of laws and regulations
    in the capital market sector.
3. Assisting the Board of Directors and Board of Commissioners in the implementation of the corporate governance which includes:
    a. Disclosure of information to the public, including the availability of information on the issuer or Company’s websites.
    b. Report submission to the Financial Services Authority on schedule.
    c. Conducting and documenting the General Meeting of the Shareholders (GMS).
    d. Conducting and documenting meetings of the Board Directors and or Board of Commissioners.
    e. Conducting orientation programs for the Board of Directors and/or the Board of Commissioners.
4. As a communicator between the Company and shareholders of issuers or public companies, Financial Services Authority, and other
    stakeholders.


Corporate Secretary Profile

Period 1 January – 13 April 2023

                                                              Educational History
                                                              •   Bachelor of Law from Sriwijaya University (1995)
                                                              •   Master of Law from the University of Indonesia (2022)




                                                              Work experience
                                                              Started his career at PT Bank Tabungan Negara (Persero) Tbk since 1997 and served
                                                              as Pekanbaru Branch Head (2015), Makassar Branch Head (2016), Regional Office
                                                              V Head (2017), Corporate Secretary Division Head (2018) and Service Quality and
                                                              Distribution Division Head (2020).


                                                              Certification
                                                              • Risk Management Competency Level 4 - Banking Professional Certification Institute
Achmad Chaerul
                                                              • Refreshment of Risk Management Certification - PT Raharja Duta Solusindo
Corporate Secretary

Indonesian citizen, 53 years old, domiciled in
Bekasi City                                                   Period of Service
                                                              Term of office July 11, 2022 - April 13, 2023



                                                              Legal Basis for Appointment
                                                              Decree No.711/DIR.2022, July 11, 2022




548           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                               2023 Annual Report




Period April 2023 – present


                                                                          Educational History
                                                                          •   Bachelor (S1) in Social Sciences/Administration from the University of Indonesia
                                                                              (1993)
                                                                          •   Master (S-2) in Commerce from The University of Sydney in 1998

                                                                          Work Experience

                                                                          Starting his career at PT Bank Tabungan Negara (Persero) Tbk in 2020 as Marketing
                                                                          Communication Division Head and concurrently serving as Digital Channel Division
                                                                          Head. He previously served at PT Bank Mandiri (Persero) Tbk as DH Retail Marketing
                                                                          (2015), DH Corporate Communication (2010), and Regional Card Manager
                                                                          Bandung (2009).

                                                                          Certification
RAMON ARMANDO
                                                                          Level 5 Risk Management Competency
Company Secretary

Indonesian citizen, 49 years old, domiciled in
Jakarta City                                                              Period of Service
                                                                          Since April 14, 2023



                                                                          Legal Basis for Appointment
                                                                          Directors' Decree Number 231/DIR/2023 dated April 14 2023




Corporate Secretary Competency Improvement Program


                                                    Types of Training and Development
                                                                                                          Time and place
     Name                 Position                               Materials                                                                 Organizer
                                                                                                          Implementation
                                                          Competency / Training

                                                                                                                                     PT Bank Tabungan
                                                 Internalization of BTN Mobile (Managerial)       Jakarta, January 16, 2023
                                                                                                                                     Negara (Persero) Tbk
                                                 Internalization of Security Awareness, User ID                                      PT Bank Tabungan
                                                                                                  Jakarta, February 3, 2023
                                                 and Password Management                                                             Negara (Persero) Tbk
                                                 Compliance Excellence February 2023
 Achmad                                                                                                                              PT Bank Tabungan
                   Company Secretary             Edition Anti-Bribery Management System           Jakarta, February 6, 2023
 Chaerul*                                                                                                                            Negara (Persero) Tbk
                                                 Policy (SMAP) (Managerial)
                                                                                                                                     PT Bank Tabungan
                                                 Legal Risk Awareness Socialization               Jakarta, March 15, 2023
                                                                                                                                     Negara (Persero) Tbk
                                                 Compliance Excellence April 2023 Edition -                                          PT Bank Tabungan
                                                                                                  Jakarta, April 4, 2023
                                                 Know Your Employee (Managerial)                                                     Negara (Persero) Tbk
                                                 Internalization of Security Awareness, User ID                                      PT Bank Tabungan
                                                                                                  Jakarta, February 3, 2023
                                                 and Password Management                                                             Negara (Persero) Tbk
                                                 Compliance Excellence February 2023
                                                                                                                                     PT Bank Tabungan
                                                 Edition Anti-Bribery Management System           Jakarta, February 6, 2023
                                                                                                                                     Negara (Persero) Tbk
                                                 Policy (SMAP) (Managerial)
                                                                                                                                     PT Bank Tabungan
                                                 Legal Risk Awareness Socialization               Jakarta, March 15, 2023
                                                                                                                                     Negara (Persero) Tbk
                                                 Compliance Excellence April 2023 Edition -                                          PT Bank Tabungan
 Ramon                                                                                            Jakarta, April 4, 2023
                   Company Secretary             Know Your Employee (Managerial)                                                     Negara (Persero) Tbk
 Armando**
                                                 BTN Leadership Forum 2023                        Semarang, 12 – 13, May 2023        Korn Ferry
                                                 Compliance Excellence June 2023 Edition -
                                                                                                                                     PT Bank Tabungan
                                                 Guidelines for Implementing Procurement of       Jakarta, June 7 – 22, 2023
                                                                                                                                     Negara (Persero) Tbk
                                                 Goods and Services (Managerial)
                                                 Compliance Excellence July 2023 Edition -                                           PT Bank Tabungan
                                                                                                  Jakarta, July 10, 2023
                                                 Data Privacy Awareness (Managerial)                                                 Negara (Persero) Tbk
                                                 Internalization of Corporate Governance                                             PT Bank Tabungan
                                                                                                  Jakarta, July 17, 2023
                                                 (GCG) and Code of Conduct                                                           Negara (Persero) Tbk




                                                                                           PT Bank Tabungan Negara (Persero) Tbk                      549
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                                                              Corporate
                                                              Governance




                                          Types of Training and Development
                                                                                                Time and place
     Name                  Position                    Materials                                                               Organizer
                                                                                                Implementation
                                                Competency / Training

                                       Socialization of the Implementation of Fraud                                       PT Bank Tabungan
                                                                                         Jakarta, July 20, July 2023
                                       Risk Assessment (FRA) Technical Instructions                                       Negara (Persero) Tbk
                                       Internalization of IT, Digital and Cyber ​​Risk                                    PT Bank Tabungan
                                                                                         Jakarta, July 21, 2023
                                       Management 2023                                                                    Negara (Persero) Tbk
                                                                                                                          PT Bank Tabungan
                                       Internalization of Know Your Employee (KYE)       Jakarta, September 1, 2023
                                                                                                                          Negara (Persero) Tbk
                                       Internalization of PPDigital and New BTN                                           PT Bank Tabungan
                                                                                         Jakarta, September 5, 2023
                                       Policies and Procedures                                                            Negara (Persero) Tbk
                                       Compliance Excellence September 2023
                                                                                                                          PT Bank Tabungan
                                       Edition - Virtual Branch & Online Onboarding      Jakarta, September 11, 2023
                                                                                                                          Negara (Persero) Tbk
                                       for Open Account (Managerial)
                                                                                         Chicago, USA, September 18 –     PT Bank Tabungan
                                       AGLP "Leading Innovation in Global Econo
                                                                                         22, 2023                         Negara (Persero) Tbk
                                                                                                                          PT Bank Tabungan
                                       Anti Money Laundering (AMOLA)                     Jakarta, October 2, 2023
                                                                                                                          Negara (Persero) Tbk
                                                                                                                          PT Bank Tabungan
                                       AMOLA Mini Series Episode 3 2023                  Jakarta, October 4, 2023
                                                                                                                          Negara (Persero) Tbk
                                       Compliance Excellence October 2023 Edition
                                                                                                                          PT Bank Tabungan
                                       - KRING BTN Pre-Retirement and Retirement         Jakarta, October 16, 2023
                                                                                                                          Negara (Persero) Tbk
                                       (Managerial) Products
                                       Internalization of the Road Map Program
                                                                                                                          PT Bank Tabungan
                                       Campaign & Human Capital Strategic                Jakarta, November 1, 2023
                                                                                                                          Negara (Persero) Tbk
                                       Initiatives 2023 – 2025
                                       Internalization of Bank BTN Outlet Service                                         PT Bank Tabungan
                                                                                         Jakarta, November 6, 2023
                                       Standards Policy                                                                   Negara (Persero) Tbk
                                       Compliance Excellence November 2023
                                       Edition - Limitation of Authority to Deposit                                       PT Bank Tabungan
                                                                                         Jakarta, November 15, 2023
                                       and Withdraw Funds and Pick Up Service                                             Negara (Persero) Tbk
                                       (Managerial)
                                       Internalization of Strategic Business Units                                        PT Bank Tabungan
                                                                                         Jakarta, December 1, 2023
                                       (SBU)                                                                              Negara (Persero) Tbk
                                       Provision and Level 5 Risk Management                                              PT Bank Tabungan
                                                                                         Jakarta, December 6 - 7, 2023
                                       Certification Examination                                                          Negara (Persero) Tbk
                                       Internalization of New Internal Regulations                                        PT Bank Tabungan
                                                                                         Jakarta, December 19, 2023
                                       General Risk Management Policy                                                     Negara (Persero) Tbk

*Resigned office on 13 April 2023
**Takes office on April 14 2023




Implementation of Corporate Secretary Duties in 2023                             c. Regulation of the Minister of State-Owned Enterprises
                                                                                      Number PER-3/MBU/03/2023 concerning Organs and
Throughout 2023, the Corporate Secretary has carried out the                          Human Resources of State-Owned Enterprises
following duties and responsibilities:                                           d. Financial Services Authority Regulation no. 17 of
1. Submitting Capital Market Developments to the Board                                2023 concerning Implementation of Governance for
     of Directors and Board of Commissioners, one of which                            Commercial Banks.
     is by conveying information about the latest regulations                 2. Communication program to the capital market community
     and provisions in the capital market sector that must be                    together with Investor Relations. The method used is as follows:
     implemented by the Company. Some of the new regulations                     a. Direct, through the General Meeting of Shareholders
     that were socialized and internalized in internal regulations                    and Public Expose.
     by the Corporate Secretary are:                                             b. Indirect, through Annual Reports, Publication of Financial
     a. Minister of State-Owned Enterprises Regulation Number                         Reports, and Press Releases.
          PER-1/MBU/03/2023 concerning Special Assignments                       c. Information Disclosure to, among others, shareholders,
          and Social and Environmental Responsibility Programs                        relevant regulators, and/or the public.
          for State-Owned Enterprises                                         3. Fulfillment of Information disclosure obligations as regulated,
     b. Minister of State-Owned Enterprises Regulation Number                    among others, in:
          PER-2/MBU/03/2023 concerning Guidelines for                            a. OJK Regulation no. 8/ POJK.04/2015 dated 25 June
          Governance and Significant Corporate Activities of                          2015 concerning Issuer or Public Company Websites,
          State-Owned Enterprises.



550            PT Bank Tabungan Negara (Persero) Tbk
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    b. OJK Regulation no. 31/ POJK.04/2015 dated 22                 5. Relations with the Media and Access to Information
       December 2015 concerning Disclosure of Material                  The Corporate Secretary always strives to establish good
       Information or Facts by Issuers or Public Companies,             relations with mass media, both electronic media (TV,
    c. Decree of the Board of Directors of the Indonesian Stock         radio), print media (newspapers, magazines) and online
       Exchange No. Kep-00066/BEI/09-2022 Concerning                    media. During 2023, the Corporate Secretary has published
       Amendments to Regulation Number I-E Concerning the               press releases and photo news which have news value for
       Obligation to Submit Information,                                the Company, namely regarding the development of the
                                                                        Company's performance, business, TJSL and operations,
During 2023, the Corporate Secretary has submitted 9 (nine)             approximately 187 (one hundred and eighty seven) reports
information disclosures to the OJK/Exchange. All reports are            consisting of 102 (one hundred and two) press release and
submitted within the deadline in accordance with applicable             85 (eighty five) news photos.
regulations, namely no later than the end of the 2nd (second)       6. Organizing General Meeting of Shareholders (GMS)
work after a decision or the presence of material information           The Corporate Secretary coordinates the organization of
or facts that may influence the value of company securities or          the Company's General Meeting of Shareholders (GMS) by
investors' investment decisions. In addition to the information         referring to OJK Regulation No. 15/ POJK.04/2020 dated
disclosure report above, the Corporate Secretary also coordinates       20 April 2020 concerning Plans and Implementation of the
the delivery of explanations if there are questions or requests         General Meeting of Shareholders of Public Companies.
from the Exchange regarding news related to the Company. In             During 2023, the Company held 2 (one) GMS, namely the
accordance with Exchange Regulation No. I-E, Listed Companies           Extraordinary GMS on January 11 2023 and the Annual
are obliged to provide written responses to matters questioned by       GMS on March 16 2023. All stages of the GMS have
the Exchange, no later than 1 (one) Exchange Day after receiving        been carried out in accordance with the POJK mentioned
a request for explanation from the Exchange, whether submitted          above and the Company's Articles of Association, including
by the Exchange via facsimile or other delivery media. During           notifications, announcement and summons for the GMS as
2023, the Company received 7 (seven) requests for explanations          well as delivery of the minutes and minutes of the GMS.
from the Exchange and OJK.                                          7. Organizing and Documenting Directors' Meetings and
                                                                        Directors' Meetings with the Board of Commissioners,
4. Increased Access to Information to the Public                        including:
   The Company always makes it easy for stakeholders and/               a. Receive proposed agendas and materials that will be
   or the public (public) to access information and communicate              decided at Board of Directors Meetings and Board of
   with stakeholders using a one door policy which is assisted               Directors Meetings with the Board of Commissioners
   in coordination by the Corporate Secretary. The Company                   from other Divisions/Desk/work units.
   also improves the quality of information delivery to the             b. Ensure that the delivery of materials, quorum and decision
   public by providing Public Information Disclosure services                making at Board of Directors Meetings and Board of
   on the Company's website, in order to fulfill the following               Directors Meetings with the Board of Commissioners run
   provisions:                                                               in accordance with applicable regulations.
   a. Law of the Republic of Indonesia no. 14 of 2008                   c. Prepare minutes signed by the Directors who attend the
        dated 30 April 2008 concerning Openness of Public                    Directors' Meeting and the Directors' Meeting with the
        Information.                                                         Board of Commissioners initiated by the Directors.
   b. Republic of Indonesia Government Regulation no. 61 of             d. Administering minutes of Directors' Meetings. Convey
        2010 dated 23 August 2010 concerning Implementation                  the decisions of the Board of Directors Meeting and
        of Law no. 14 of 2008 concerning Openness of Public                  the Board of Directors Meeting with the Board of
        Information.                                                         Commissioners to the relevant Division/Desk/work unit
   c. Information Commission Regulation no. 1 of 2010 dated                  for immediate follow-up.
        7 June 2010 concerning Public Information Service
        Standards.                                                         During 2023, the Corporate Secretary has coordinated
                                                                           the organization of 255 (two hundred and fifty five)
Apart from publications via the Company's website, the public              Board of Directors meetings and 6 (six) Board of
can also access information about the Company through mass                 Commissioners meetings inviting the Board of Directors
media, as well as social media consisting of Facebook, Twitter,            and 6 (six) Board of Directors meetings inviting the Board
YouTube and Instagram which are managed jointly with the                   of Commissioners.
Marketing Communication Division.                                   8. Organizing an Orientation Program for new members of
                                                                       the Board of Directors and Board of Commissioners, namely
                                                                       Mr. Oni Febriarto Rahardjo, Mr. Hakim Putratama, and Mr.
                                                                       Mohamad Yusuf Permana.




                                                                        PT Bank Tabungan Negara (Persero) Tbk                  551
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                                                             Corporate
                                                             Governance




IMPLEMENTATION OF THE DUTIES OF THE CORPORATE SECRETARY AS INFORMATION AND DOCUMENTATION MANAGEMENT
OFFICER (PPID)


Public Information Services Policy                                        A. Facilities and Infrastructure
The Company as a Public Institution, implements openness                     Central PPID operates at the Company’s Head Office which
public information in accordance with the following provisions:              is located at Menara BTN Jakarta. Central PPID is assisted by
1. Law Number 14 of 2008 concerning Openness of Public                       Public Information Service Officers located in Branch Offices
    Information.                                                             throughout Indonesia. So, to support inclusive information
2. Government Regulation Number 61 of 2010 concerning                        services at PPID BTN, the Company has prepared various
    Implementation of Law Number 14 of 2008 concerning                       information services both digital and non-digital as follows:
    Openness of Public Information.
3. Information Commission Regulation Number 1 of 2021                         1. Digital Based Information Services
    concerning Public Information Service Standards.                             In today’s modern world, optimizing technology is very
4. Information Commission Regulation Number 1 of 2022                            important for information access to be more dynamic
    concerning Monitoring and Evaluation of Public Information                   and flexible, so the Company has taken the initiative to
    Openness.                                                                    provide a platform for the public to obtain information
                                                                                 online through the PPID Website and BTN PPID Android
As a support commitment to realizing inclusive public information                and iOS applications.
services in implementing the KIP Law, the Company has issued a policy             •       Website BTN PPID
regarding Procedures for Requesting Information and Submitting                            The Company has prepared facilities to access
Public Information which is outlined in the following provisions:                         information online via the BTN PPID website https://
1. PT Bank Tabungan Negara (Persero) Tbk Special Policy                                   ppid.btn.co.id/. Requests for Public Information can
     Number 9-AD concerning Operational Activities of the                                 be made easily by filling out the online registration
     Corporate Secretary Chapter IX Procedures for Submitting                             on the website. Apart from that, mandatory, periodic
     Public Information.                                                                  and immediate public information including the latest
2. PT Bank Tabungan Negara (Persero) Tbk Technical Instructions                           news related to the company can also be accessed
     Number 9-AD concerning Submission of Information to the                              via the BTN PPID website.
     Public.


Public Information Services
In line with the Vision and Mission of PPID BTN, the Company
provides inclusive public information services by ensuring that the              https:     ppid.btn.co.id/

information provided can be accessed by everyone, including people
with disabilities, taking into account factors such as accessibility,
language and special needs of users, by providing infrastructure,
resources. human resources and budget are detailed as follows:




552          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                  2023 Annual Report




•   BTN PPID Mobile Application
    Along with technological developments, public information services can also be provided through the BTN PPID mobile
    application which can be downloaded via the Google Play Store and Apps Store. People can access it via gadgets or smart
    phones with an internet network anywhere.




                                                                PT Bank Tabungan Negara (Persero) Tbk               553
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                                                      Corporate
                                                      Governance




 2. Non Digital Information Services
    The Company provides a room for the public to come directly/face to face to submit requests for public information. The Public
    Information Service Room is located on the 20th Floor of the BTN Tower, Jalan Gajah Mada Number 1, Central Jakarta and the
    nearest Branch Office of Central PPID.




      One of the public information rooms at the Branch Office:




554       PT Bank Tabungan Negara (Persero) Tbk
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                                                                                              2023 Annual Report




3. Other Supporting Information Services
   Along with the ease of obtaining information, people with disabilities are also the Company’s main concern, this is done by
   providing supporting facilities such as walkways and special wheelchairs as well as assistance in obtaining information by service
   officers. In addition, to support services for people with disabilities, basic disability communication training is provided to branch
   office customer service.


    Access for Persons with Disabilities at one of the branch offices:




B. Human Resources
   There are 3 (three) Central PPIDs located at Bank BTN Head
   Office who are organic employees of Bank BTN. Meanwhile,
   Public Information Service Officers on duty at all Bank BTN
   Branch Offices are organic employees who also serve as
   Customer Service. Strengthening human resources for public
   information services is also carried out by the Company
   in order to increase insight and competence with the aim
   of providing the best service for the community, especially
   people with disabilities, in obtaining public information.


    The Company provides basic communication training for
    disabled people for public information service officers (Dhi.
    Customer Service) at Branch Offices


C. Information Services Budget
   The Company allocated a budget for public information
   services in the Corporate Secretary Division’s operational
   budget post of IDR 500,000,000 with actual budget
   absorption of IDR 154,500,000. The budget was used to
   carry out focus group discussions on filling out the 2023
   KIP Monitoring and Evaluation questionnaire as well as
   developing the PPID BTN website and mobile application
   (Phase 1)




                                                                           PT Bank Tabungan Negara (Persero) Tbk                  555
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                                                           Corporate
                                                           Governance




        DETAILS OF PUBLIC INFORMATION SERVICES


Time of Service

As stated in the Company’s Internal Regulations regarding the mechanism for requesting public information, the Public Information
Services Officer shall submit the response to the request to the applicant no later than 10 (ten) working days from receipt of the request.



Recapitulation of Public Information Services in 2023

                                                       Time of Providing                                  Information
                Applicant             Amount
                                                          Information                Rejected            Partially Given            Given
 Individual                              3                                               1​                      -​                   2
 Legal Entity                            0​            10 Working days                   ​-                      ​-                    ​-
 Group of People                         0​                                              ​-                      -                     -


During 2023, there were no submissions or resolutions of Public Information disputes



Public Information Administration Management System

PPID’s duties and functions range from identification of the               7. Through the BTN PPID Android application which can be
information produced, storage, documentation to the provision                 downloaded via the user’s smartphone.
and service of public information. In the context of managing
public information administration, information recording is set out
in the Public Information Register which consists of registration
of requests, notifications, rejections and objections to public            Public Information Request Procedure
information and is available in the form of:
1. Hard copy or soft copy,
2. Periodic, at any time, and/or immediately, and
                                                                                                Flow of Information Request
3. The storage period for public information refers to the
     Company’s archive management provisions.



Public Information Request Procedure
                                                                               PPID provides a         PPID provides a
Information requests by the public can be made through open                  registration number     registration number
                                                                                                                                PPID checks
                                                                                                                              completeness of
access to the public provided by the Company.                                and records it in the   and records it in the
                                                                                                                             documents (3 days)
                                                                                register book           register book
1. The public can come directly to the Central PPID Office at
    the Head Office - Menara BTN Floor 20 Jalan Gajah Mada
    Number 1 Central Jakarta or to the nearest Branch Office in
                                                                                                        The applicant
    the information user area.
                                                                                                        completes the
2. Information can also be requested via letters sent to the                                             documents
                                                                                                      (3 working days)
    Central PPID Office and/or the nearest Branch Office.
                                                                              The documents are
3. If via email, it can be sent to csd@btn.co.id.                                  complete
                                                                                                                              The document is
                                                                                                                                incomplete
4. If you find it easier to communicate by telephone, you can                                          The applicant
    contact the Central PPID at 021-6336789 Ext. 2003.                                                did not complete
                                                                                                      teh Documen (3
5. Messages requesting information can also be sent via the                                            working days)
    Whatsapp application to number 0877-7150-0286.
6. Another information channel which is currently very easy to                Written notification        Accepted
    access is also monitored for follow-up, namely the website               (10 working days) +
                                                                                                                                 Certificate
                                                                               can be extended             Rejected
    https://ppid.btn.co.id.                                                    (7 working days)
                                                                                                                                 Incomplete




556             PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                2023 Annual Report




                                                                               OBSTACLES IN THE
                                                                               IMPLEMENTATION OF
                                                                               PUBLIC INFORMATION
                                                                               SERVICES
Procedure for Filing Objection to
Public Information Requests                                                    There were several obstacles in the implementation of
                                                                               Public Information Services during 2023. These obstacles
         Flow of Information Request Objection Progress                        arise from internal and external parties to the Company.
                                                                               Along with the current development of public information
                                                                               openness, the obstacles that occur also involve the
                                                                               convenience of applicants getting public information
                                                                               face to face at the service branch office. Applicants who
                                                                               come directly to the branch office will meet with Public
                                                                               Information Service Officers in the Customer Service work
      The applicant        PPID provides a        PPID superiors
   submitted a written   registration number    provided a written             area, however not all of the Company’s Branch Offices
     objection to the    and record it in the        response                  have a layout with a digital banking hall format so there is
      PPID superior         register book       (30 working days)
                                                                               no similarity in comfort for applicants who come directly.


                                                                               Then, from the external side, it still occurs among information
                                                                               applicants who request information that the Company has
                                                                               conveyed either directly through the interface or via social
                                                                               media and other electronic media such as websites and
        Approve                                                                mobile applications. However, it is the service officer’s
                                                Refusal must include
                                                   an information              obligation to continue to provide information so that the
                                                 exception decision            applicant can be properly literate.
         Done                                           letter




RECOMMENDATIONS AND FOLLOW-UP PLANS FOR
BANK BTN’S PUBLIC INFORMATION SERVICES IN 2024

From the implementation of public information services in 2023, the Company has several recommendations and follow-up plans that
can improve and support the performance of public information services in 2024, including:
1. The company plans to carry out a transformation of the PPID BTN organizational structure to make it more agile and efficient in terms
    of service performance, supervision and optimal target achievement..
2. Implementation of public information service facilities and infrastructure, especially for people with disabilities.
3. Make optimal efforts to provide an equal service experience in all Branch Offices by providing space for public information services
    that are comfortable and integrated with digital services..
4. Carry out website and mobile application development as well as socialize the Company’s digital information services to the public.
5. Prioritize socialization and/or training related to Public Information Openness to public information service officers at Branch Offices
    throughout Indonesia.




                                                                            PT Bank Tabungan Negara (Persero) Tbk                      557
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                                                                        Corporate
                                                                        Governance




The Function of the Internal Audit Division                                            1. Point 1 states that the Internal Audit Division (IAD) is an
                                                                                          Internal Audit Work Unit (SKAI) in the Bank organization
The internal audit functions as a strategic business partner                              whose position is directly under the President Director.
for the management in optimizing the implementation of the                             2. Point 2 states that the IAD as referred to in point 1 is led
Company's Good Corporate Governance, risk management,                                     by a Division Head who is directly responsible to the Main
and providing assurance and recommendation independently                                  Director.
and objectively on the Company's internal control. The internal                        3. Point 3 states that the Head of IAD as referred to in point 2
audit function is carried out by the Internal Audit Division (IAD)                        is appointed and dismissed by the President Director after
through an evaluation process based on the objective risk-based                           obtaining approval from the Board of Commissioners by
audits and consulting services, especially those concerning the                           considering the recommendations of the Audit Committee
improvement and refinement of risk management, control, and                               and reporting to the Financial Services Authority.
governance processes. This function is carried out through
proactive, enthusiastic, and dynamic approach by conducting                            The Parties Entitled to Appoint and Terminate the Head of
effective communications, and focusing on business and                                 Internal Audit Vision
stakeholder’s orientation, understanding the root of the problem
about areas with high-risk, emphasizing findings on quality, and                       Parties involved in the process of appointing or dismissing the
recommending practical and workable solutions.                                         Head of the Internal Audit Division are the President Director, the
                                                                                       Board of Commissioners, and the Financial Services Authority
The Position of the Internal Audit Function in the                                     as regulators. The process of appointing or dismissing which
Organizational Structure                                                               describes the involvement of the several parties referred to is as
                                                                                       follows:
The position of the Internal Audit Division (IAD) as executor                          1. The Director conducts a fit and proper test on candidates for
of the internal audit function is under the supervision of the                              the Head of the Internal Audit Division.
President Director as determined based on Technical Instructions                       2. The President Director submits a request for approval for
No.PT.3-A.6 dated 14 September 2023 concerning the                                          the appointment/dismissal of the Head of the Internal Audit
Organizational Structure of the Head Office, Regional Offices                               Division to the Board of Commissioners.
and Branch Offices. In addition, the position of the internal audit                    3. The Board of Commissioners approves or disapproves of the
function is also explained in the Internal Audit Charter which is                           appointment/dismissal of the Head of the Internal Audit Division.
regulated in Special Policy No.KK.7-A dated 27 April 2023 as                           4. The Board of Commissioners and the Board of Directors
last amended on 31 October 2023, in Chapter II Structure and                                submit reports on the appointment/dismissal of the head of
Position of the IAD, namely:                                                                the Internal Audit Division to the Financial Services Authority
                                                                                            as the regulator.


Internal Audit Division Organizational Structure



                                                                      Internal Audit

                                    Dewan Pengawas                                                                  Dewan
                                                                                                                     DeputyPengawas
                                                                                                                            Internal
                                       Secretary                                                                        Syariah
                                                                                                                         Audit
                                        Syariah




                                                                   Fraud Investigation
                    General Audit            IT Audit                                                                Audit Planning,           Reporting,
                                                                    & Whistleblowing
                                                                                             Quality Assurance     System Development        Counterparty &
                                                                         system
                                                                                                                         & Policy          Documentation Audit

    General                                          Whistleblowing
  Conventional                                                                                            Audit Planning         External Audit
                                ICT Audit               System                  Quality Assurance                                  Reporting
     Audit                                                                                                  & System
                                                      Coordinator                Internal Audit                                  Monitoring &
                                                                                                           Development           Counterparty

 General Sharia                                          Anti Fraud                                        Audit Policy         Internal Audit
     Audit                                                                      Quality Assurance                                 Reporting,
                                                        Coordinator                                        & Procedure
                                                                                   ISO Audit                                     Monitoring &
                                                                                                           Development
                                                                                                                                Documentation
                                                                                                                                     Audit
  Ikhtisar Lintas
   Divisi & Root                                         Fraud
  Cause Analyst                                   Investigation Audit                                    Data Analytics




                                                     Digital Forensic
                                                         Analyst




558           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                  2023 Annual Report




The Profile of The Head of Internal Audit



                                                              Educational background
                                                              •   Diploma (D3) of Accounting from State College of Accountancy (1995)
                                                              •   Bachelor degree (S1) of Accounting from Indonesia University (1998)
                                                              •   Master (S2) of Accounting from The University of Queensland, Australia (2003)

                                                              Work experience
                                                              •      Auditor/Investigator of the Indonesian Financial Audit Agency (1995-
                                                                     2010)
                                                              •      Fraud Risk Management Division Head, Bank Permata Tbk (2011-
                                                                     2020)
                                                              •      Post Mortem & Forensic Audit (Special Audit) Division Head, Bank
                                                                     Exim Indonesia (2020-2021)
                                                              •      Internal Audit Division Head, Bank BTN (2021- present)
Hendratno Tri Wibowo
Internal Audit Division Head
                                                              Certification
Indonesian citizen, 49 years old, domiciled in
South Tangerang City                                          •      Certified Internal Audit Executive (CIAE)
                                                              •      Risk Management Competency Level 4 – Banking Professional
                                                                     Certification Institute
                                                              Legal Basis for Appointment

                                                              •      Board of Directors Decree No.642/DIR/2021 July 26, 2021
                                                                     concerning the Head of the Internal Audit Work Unit of PT Bank
                                                                     Tabungan Negara (Persero) Tbk.
                                                              •      Letter of the Board of Commissioners of PT Bank Tabungan Negara
                                                                     No.60/KOM/ BTN/V/2021 dated May 05, 2021 regarding
                                                                     Approval of the Proposed Appointment of the Head of the Internal
                                                                     Audit Division/Head of the Internal Audit Work Unit (IAWU).



Internal Audit Charter                                                    Duties and Responsibilities of the Internal Audit Division

The Internal Audit Division has been equipped with a Work Guide           The Internal Audit Division assists the duties of the President
called the Internal Audit Charter which has been prepared since           Director and the Board of Commissioners as well as all levels
2002 and then updated and finalized based on Special Policy               of management in ensuring the adequacy of the Company's
No.KK.7-A dated 27 April 2023 as last amended on 31 October               internal control system and providing strategic and constructive
2023 regarding the Internal Audit Charter. The Internal Audit             suggestions for the management of the Company within the
Charter is also the basis for the existence and the implementation        framework of implementing good and healthy corporate
of supervisory duties and responsibilities for IAD. Therefore,            governance with the following tasks:
the Internal Audit Charter is disseminated to all employees               1. To assist the duties of the President Director and the Board
and other related parties to encourage the effectiveness of the                of Commissioners in carrying out supervision by elaborating
implementation of the internal audit function. The contents of the             operationally in planning, implementing, and monitoring
Internal Audit Charter are as follows:                                         audit results.
1. Internal Audit Division Mission                                        2. To make analysis and assessments in the terms of finance,
2. Structure and Position of the Internal Audit Division                       accounting, operations, and other activities through on-
3. Scope                                                                       site audits and off-site monitoring, including conducting
4. Duties, Responsibilities, and Authorities                                   management audits of all Bank’s work units;
5. Independence, Objectivity and Prohibition of Duplication of            3. To identify all possibilities to improve and increase the
     Duties and Positions of Internal Auditors                                 efficiency of the use of resources and funds.
6. Code of Ethics and Requirements for Internal Auditors                  4. Provide suggestions for improvement and objective
7. Use of External Party Services in Carrying Out Internal Audits              information about the activities examined at all levels of
8. Relationship between the Internal Audit Division and External               management.
     Auditors or Legal Experts
9. Others



                                                                              PT Bank Tabungan Negara (Persero) Tbk                      559
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                                                                                                                                                                  Corporate
                                                                                                                                                                  Governance




5. Prepare and implement the Annual Internal Audit plan and                                                                                                                                                     2. Communicate directly with the Board of Directors, Board of
    budget allocation for implementing the internal audit function                                                                                                                                                 Commissioners, Audit Committee and/or Sharia Supervisory
6. Test and evaluate the effectiveness of the implementation of                                                                                                                                                    Board as well as members of the Board of Directors, Board of
    the internal control system, risk management and corporate                                                                                                                                                     Commissioners, Audit Committee and/or Sharia Supervisory
    governance processes in accordance with statutory                                                                                                                                                              Board.
    regulations and Bank policies.                                                                                                                                                                              3. Hold regular and incidental meetings with the Board of
7. To carry out inspections and assessments on the efficiency and                                                                                                                                                  Directors, Board of Commissioners, Audit Committee
    effectiveness in the fields of finance, accounting, operations,                                                                                                                                                and/or Sharia Supervisory Board in connection with the
    human resources, marketing, information technology, and                                                                                                                                                        implementation of their duties and functions.
    other activities;                                                                                                                                                                                           4. Coordinate its activities with the activities of the external
8. To compile an audit report and submit the report to the                                                                                                                                                         auditors.
    President Director and the Board of Commissioners;                                                                                                                                                          5. Participate in strategic meetings.
9. To control, analyze, and report the implementation of follow-
    up improvements that have been suggested;                                                                                                                                                                   Personnel Composition of the Internal Audit Division
10. To cooperate with the Audit Committee;
11. To develop a program to evaluate the quality of the internal                                                                                                                                                The Company is very concerned about the adequacy of the
    audit activities;                                                                                                                                                                                           composition of Internal Audit Division personnel in supporting
12. To carry out special inspections (audits) if necessary.                                                                                                                                                     the implementation of their duties both in terms of qualifications
                                                                                                                                                                                                                and competency. Up to December 2023, the number of Internal
The Authorities of the Internal Audit Division                                                                                                                                                                  Audit Division personnel is 79 (seventy nine) people led by 1
                                                                                                                                                                                                                (one) Division Head and assisted by 1 (one) Secretary, 1 (one)
To be able to carry out audit missions, functions and tasks, the                                                                                                                                                Deputy Division Head, 39 (thirty nine) ) people in the General
IAD has at least the following authorities:                                                                                                                                                                     Audit Department, 7 (seven) people in the IT Audit Department, 9
1. Access all information, data including but not limited to                                                                                                                                                    (nine) people in the Fraud Investigation & Whistleblowing System
    employee data and resources as well as other matters                                                                                                                                                        Department, 8 (eight) people in the Quality Assurance Department,
    deemed necessary related to their duties and functions.                                                                                                                                                     6 (six) people in Audit Planning, Systems Development & Policy
                                                                                                                                                                                                                Department, and 7 (seven) people in the Reporting, Counterparty
                                                                                                                                                                                                                & Documentation Audit Department.



The following is the composition of Internal Audit Division personnel based on the education:




             25                                                            23 20

             20

             15                                                                                                                                                                 11                                                                                                    11 10
                                                                                                                                                                                                                                                                                                                                                                                    87
                                                                                                                                                                                         8
             10                                                                                                                                                                                                                                                                                          53                              55
                                                                                                                              5 6                       66
                       11           11                   11                                11             1                                                        1                                11             11                     1              11             11                                            11                                        11                                          11
              5

              0
                                                                                                                              S1 Ekonomi Pembangunan




                                                                                                                                                                                                                                                                                                                                                                                    S2 Magister Manajemen
                                                                                                                                                                                                                                  S1 Perbankan Syariah
                                 D3 Teknik Informatika




                                                                                                                                                                                                                                                                                                                                         S2 Magister Akutansi




                                                                                                                                                                                                                                                                                                                                                                                                            S2 Teknik Informatika
                                                                                                         S1 Ekonomi Syariah




                                                                                                                                                                                                                                                                                                                    S2 Ekonomi Syariah




                                                                                                                                                                                                                                                                                                                                                                S2 Magister Hukum
                                                                                                                                                                                                                 S1 Oseanografi
                                                         S1 Administrasi
                  D3 Manajemen




                                                                                                                                                                                 S1 Manajemen

                                                                                                                                                                                                S1 Matematika




                                                                                                                                                                                                                                                                                       S1 Informatika
                                                                                                                                                                  S1 Keuangan




                                                                                                                                                                                                                                                         S1 Perikanan

                                                                                                                                                                                                                                                                        S1 Peranian
                                                                                          S1Arsitektur
                                                                            S1 Akutansi




                                                                                                                                                       S1 Hukum




                                                                                                                                                                                                                                                                                                        S1 Teknik




                                                                                                                              2022                                                                                                                                         2023




560         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                          2023 Annual Report




Competency Development Program for the Internal Audit Division

Each IAD member is facilitated and encouraged to develop their competence in supporting the implementation of the internal audit
function. Competency development is carried out by means of knowledge sharing between the Head of IAD, Directors, and auditors on
Internal Policies and Procedures, certification programs, education and training, workshops and seminars. During 2023, competency
development that has been carried out in the form of both internal and external training includes the following:

Internal Audit Division Personnel Competency Development Table
                                                                                                                                         Number of
 No                  Name of Education/Training                               Organizer                     Implementation date
                                                                                                                                         participants
 Sertifikasi
         Provision and Examination for Level 1 Risk
  1                                                                PT Garda Multi Talenta               February 15 - 16, 2023                1
         Management Certification
                                                                                                        July 13, 2023 (batch 1)               3

                                                                                                        July 18, 2023 (batch 2)              10

                                                                                                        July 20, 2023 (batch 3)               8
  2.     Refreshment Certification in Banking Risk Management      PT Garda Multi Talenta               August 02, 2023 (batch 4)             8

                                                                                                        August 09, 2023 (batch 6)             1

                                                                                                        August 10, 2023 (batch 7)             7

                                                                                                        August 19, 2023 (batch 8)             1
                                                                   Association of Certified Fraud
  3.     Certified Fraud Examiner (CFE) Certification Training                                          August 7-11, 2023                     1
                                                                   Examiners (ACFE)
         Certification Training on Certification in Audit          Indonesian Audit Committee           August 22 – 24, 2023,
  4.                                                                                                                                          1
         Committee Practices (CACP)                                Association (IKAI)                   August 28, 2023
         Qualified Internal Auditor (QIA) Certification Training   Internal Audit Education
  5.                                                                                                    August 21 - 26, 2023                  2
         - Pre-Managerial                                          Foundation (YPIA)
                                                                                                        September 11 - 20, 2023               1
         Qualified Internal Auditor (QIA) Certification Training   Internal Audit Education
  6.                                                                                                    October 23 - November 01,
         – Managerial                                              Foundation (YPIA)                                                          1
                                                                                                        2023
         Certified Anti-Fraud Manager (CAFM) Certification         Asia Anti Fraud Management
  7.                                                                                                    September 4 - 6, 2023                 3
         Training                                                  (AAFM)
                                                                                                        October 02 - 5, 2023 (part 1)
                                                                   The Institute of Internal Auditors
  8.     Certified Internal Auditor (CIA) Certification Training                                        October 9 - 11, 2023 (part 2)         1
                                                                   (IIA)
                                                                                                        October 16 - 18, 2023 (part 3)
  9.     ISO 9001:2015 Lead Auditor Certification Training         PT BSI Group Indonesia               09 - 13 Oktober 2023                  2

 Training and Workshops

  1.     Bank BTN Business Process Refreshment Training 2023       Bank BTN                             January 05 to 17 , 2023              39
                                                                   Bank BTN (Internal ITPD with 3rd
  2.     BTN IT Planning and Management Training                                                        January 5 and 12, 2023                8
                                                                   party partners)
  3.     BTN IT Network Infrastructure Training                    Bank BTN                             January 06, 2023                      8

  4.     BTN IT Security Training                                  Bank BTN                             January 27 to 31, 2023                8
                                                                                                        January 16 to 20, 2023
         Classical Education 1 of Bank BTN Talent Development                                           (Batch 1).
  5.                                                               BTN & LPPI Bank                                                            4
         Program 2023                                                                                   January 20 to 24, 2023
                                                                                                        (Batch 3).
  6.     Payment Card Industry Data Security Standard Training     PT Systech Global Information        January 9 to 11, 2023                 8

  7.     OPICS Application Training                                PT Abhimata Persada                  January 13, 2023                      8
         Training on Fundamentals of Trade Finance from Audit      Alta Perfecto Training &
  8.                                                                                                    January 20 to 21, 2023                8
         Perspective                                               Consulting
         Training on Fundamentals of Treasury Operations from      Alta Perfecto Training &
  9.                                                                                                    January 24 to 25, 2023               13
         Audit Perspective                                         Consulting

         Training on Fundamentals of Treasury Operations from      Alta Perfecto Training &
 10.                                                                                                    January 24 to 25, 2023               13
         Audit Perspective                                         Consulting
                                                                   Indonesian Banking Development
 11.     Human Capital Overview Training for Auditors                                                   January 26 to 27, 2023               13
                                                                   Institute (LPPI)
 12.     Impactful Presentation Skill Education Batch 1            PT SGS Indonesia                     February 2 - 04, 2023                 2




                                                                                      PT Bank Tabungan Negara (Persero) Tbk                       561
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                                                                                                                                      Number of
No               Name of Education/Training                               Organizer                     Implementation date
                                                                                                                                      participants
      OJK Institute Webinar "Implementation of Artificial      Financial Services Authority
13.                                                                                                 February 02, 2023                      1
      Intelligence in the Financial Services Industry"         (OJK)
14.   Data Analysis and Visualization Training Using Excel     DQ Lab Trainer                       February 06 - 08, 2023                25

15.   PPDigital Training                                       Bank BTN                             February 15, 2023                      2
                                                               Widyaiswara Education and
16.   Investigation Audit Training                                                                  February 13, 2023                     15
                                                               Training Agency BPK RI
                                                               The Institute of Internal Auditors
17.   Communication Skills Training for Internal Auditors                                           February 15 - 16, 2023                32
                                                               (IIA)
                                                               The Institute of Internal Auditors
18.   Communication Skills Training for Senior Auditors                                             February 15 to 16, 2023               26
                                                               (IIA)
19.   Workshop on 2023 Audit Provision                         IAD & Deloitte                       February 17, 2023                     27
      Training on Identifying Critical Points of Fraud in
                                                               Fraud Auditing Development
20.   Procurement of Goods/Services and Supply Chain                                                February 20 to 21, 2023               13
                                                               Institute
      Financing
21.   Impactful Presentation Skill Education Batch 2           PT SGS Indonesia                     February 23 - 25, 2023                 1
      Expert Talk Session - "The Future of Competitive
22.                                                            Mr Ignasius Jonan                    March 04, 2023                         8
      Strategy for Great Business Transformation" Bank BTN
      OJK Institute Webinar "Utilizing Big Data Analysis in    Financial Services Authority
23.                                                                                                 March 30, 2023                         2
      Improving Financial Services Industry Performance"       (OJK)
                                                               Banking and Finance
24.   Single Customer View (SCV) Reporting Training                                                 April 12 to 13, 2023                   1
                                                               Development Center
25.   Webinar on APU and PPT 2023                              Rafi Wisesa                          April 12, 2023                         2
                                                                                                    April 10 to 14, 2023 (Batch 1).
      Classical Education 2 Bank BTN Talent Development
26.                                                            Bank BTN                             May 08 – 12, 2023 (Batch 2)            4
      Program 2023
                                                                                                    May '22 – 26, 2023 (Batch 3)
27.   Leadership Forum “Envisioning Culture For Leader”        PwC and McKinsey                     May 11 - 14, 2023                      2
      Webinar "How to Manage Climate Related Risk in           Financial Services Authority
28.                                                                                                 June 15, 2023                          1
      Banking Industry"                                        (OJK)
      Webinar "Awareness of the Implementation of APU
                                                               Center for Financial Transaction
29.   and PPT Programs Ahead of the General Election/                                               June 21, 2023                          2
                                                               Reports and Analysis (PPATK)
      Pilkada"
30.   Training on Digital Marketing Strategy                   Patrick Rimba                        July 04, 2023                          1
                                                               Internal Audit Education
31.   Internal Auditor Conference (KAI) 2023                                                        July 05 - 06, 2023                     3
                                                               Foundation (YPIA)
      Workshop on the Indonesian Institute for Corporate       The Indonesian Institute For
32.                                                                                                 July 12 - 13, 2023                     1
      Governance (IICG)                                        Corporate Governance (IICG)
      Training on Identification of Suspicious Financial
                                                               Banking Compliance Director
33.   Transactions and Determining the Origin of Criminal                                           July 17 - 18, 2023 (Batch 4)           1
                                                               Communication Forum
      Offenses
34.   Training on Oxygen Forensic Extraction in a Box          Bounga Informatics Solutions         July 26 - 28, 2023                     2
                                                               Bank Internal Audit Association
35.   IAIB National Conference 2023                                                                 July 12 - 13, 2023                     3
                                                               (IAIB)
                                                               PT Hacktivate Teknologi
36.   Intro to Python for Data Science Training                                                     July 24 - September 18, 2023           2
                                                               Indonesia
      Training on the Use of eProcurement, Goods and/or
37.                                                            Bank BTN                             August 22, 2023                        1
      Services Procurement Policy and Archives
                                                               Corruption Eradication
38.   Public Complaint Handling Training                                                            August 14 - 18, 2023                   2
                                                               Commission (KPK)
                                                               The Institute of Internal Auditors   30 Agustus - 01 September
39.   August 22 - 24, 2023                                                                                                                 3
                                                               (IIA)                                2023
                                                               The Institute of Internal Auditors   August 30 - September 01,
40.   IIA Indonesia National Conference                                                                                                    1
                                                               (IIA)                                2023
                                                               Financial Services Authority
41.   OJK Webinar "Leadership in Changing Atmosphere"                                               August 24, 2023                        1
                                                               (OJK)
      Webinar "Effectiveness of Digital Maturity Assessment    Banking Compliance Director
42.                                                                                                 August 28, 2023                        1
      in Measuring Banking Digital Transformation Maturity"    Communication Forum (FKDKP)
                                                               BUMN Leadership &
43.   Training on GRC Masterclass Program                                                           September 07, 2023                     1
                                                               Management Institute (BLMI)




562        PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                             2023 Annual Report




                                                                                                                                                                 Number of
  No                     Name of Education/Training                                         Organizer                          Implementation date
                                                                                                                                                                 participants
          Workshop on Professional Standards and Code of                       Internal Audit Education
  44.                                                                                                                      September 11 - 12, 2023                        2
          Ethics for Internal Auditors                                         Foundation (YPIA)
          Training on Integrated TPK Whistleblowing System                     Corruption Eradication
  45.                                                                                                                      September 12, 2023                             4
          Application                                                          Commission (KPK)
                                                                               Association of Certified Fraud
  46.     National Anti-Fraud Conference 2023                                                                              September 13 - 14, 2023                       12
                                                                               Examiners (ACFE)
          E-Learning for Increasing the Understanding of
                                                                               Corruption Eradication
  47.     Gratifications - Corruption Eradication Commission                                                               October 12 - 14, 2023                          1
                                                                               Commission (KPK)
          (KPK) in 2023
                                                                               Indonesian Audit Committee
  48.     National Conference on Audit Committees                                                                          October 19, 2023                               1
                                                                               Association (IKAI)
          Training on Handling Virtual Assets in the Law
  49.                                                                          Bank BTN                                    November 02 - 03, 2023                         2
          Enforcement Process
          Refreshment of LHPK Material on Payment Systems and
  50.                                                                          Bank Indonesia                              November 03, 2023                              1
          Financial Market Instructure of BI and KPHDN in 2023
          Training on Integrated End to End Procurement
  51.                                                                          Bank BTN                                    November 6 - 15, 2023                          1
          Application
          Training on Identification of Suspicious Financial
                                                                               Banking Compliance Director                 November 15 - 16, 2023
  52.     Transactions and Determining the Origin of Criminal                                                                                                             2
                                                                               Communication Forum                         (Batch 6)
          Offenses
          Indonesian Human Capital Forum "Elevating
                                                                               Indonesian Human Capital Forum
  53.     Cybersecurity Awareness for SOEs: Empowering                                                                     November 21, 2023                              2
                                                                               (FHCI)
          Digital Talents Readiness"
                                                                               Internal Audit Education
  54.     National Seminar on Internal Audit (SNIA)                                                                        December 6 - 7, 2023                           2
                                                                               Foundation (YPIA)




Professional Certification of the Internal Audit Division

The number of Internal Audit Division personnel’s certification for the position of December 2023 is as follows:



                 90
                        83
                 80          77

                 70                62
                                        57
                 60

                50

                40

                30
                                               14                                                                                                      66        6 5
                20                                                                                                                         4
                                                    12                                                              3 3                         3
                                                                           4                       3
                                                                       3
                10                                         2 2                                             2 2                 2 2
                                                                                     1
                                                                                 0           0
                  0
                                                                                                                                        ISO:37001:




                                                                                                                                                     9001:2015
                                                                                                 CAFM
                      UKMR




                                                                                     CACP




                                                                                                                                        2016
                                                 CFRA




                                                                                                                    CISA
                                                                       CIAE




                                                                                                                                COF
                                  QIA




                                                                                                           CFE




                                                                                                                                                     ISO
                                                            CA




                                                                                                                                                                  ITIL




                                                             2022                                                2023


Description:
UKMR (Risk Management Competency Test), QIA (Qualified Internal Auditor), CFrA (Certified Forensic Auditor), CA (Chartered Accountant), CIAE (Certified Internal Audit Executive),
CACP (Certification in Audit Committee Practices), CAFM (Certified Anti Fraud Manager), CFE (Certified Fraud Examiner), CISA (Certified Information System Auditor), COF (Certified
Oxygen Forensic), ISO 37001:2016 (Anti-Bribery Management System), ISO 9001:2015 (Quality management system), ITIL Foundation Certificate in IT Service Management.




                                                                                                        PT Bank Tabungan Negara (Persero) Tbk                             563
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                                                             Governance




Participation of the Internal Audit In Professional Union                       Auditor's fair assessment. This includes any activities or
                                                                                relationships that result in a conflict of interest.
In order to broaden the insights and professional development                b. To not accept anything that has an impact or is suspected
of Internal Auditors, the Internal Audit Company Organization                   to have an impact on professional judgment.
has participated by involving its auditors in various internal               c. Must disclose all material facts known to him, which if not
audit professional organizations, including as administrators,                  disclosed could distort the report on the activities being
members, and participation in the activities of internal audit                  reviewed.
professional associations as follows:                                     3. Confidentiality
1. Organization of the Association of Bank Indonesia                         a. To be careful in using and maintaining the information
    Internal Auditors (IAIB)                                                    obtained in the performance of duties.
    In the context of developing and increasing insight, IAD Leaders         b. To not use information for the benefit of anyone and/or
    and Auditors always participate in benchmarking discussion                  in any way that would be against the laws and/or the
    forums and best practice development workshops organized                    Company’s regulations.
    by the IAIB forum. The workshop and benchmarking materials            4. Competency
    in this IAIB forum include managerial level material on the              a. To carry out tasks in accordance with the knowledge,
    management of the Internal Audit function for Chief Auditor                 skills, and experience only.
    Executive (CAE) leaders as well as for the Auditor level in the          b. To carry out audits in accordance with Internal Audit
    form of audit techniques, audit methodology and ICT audits                  Professional Standards.
    which are held through discussion forums and workshops with              c. To improve expertise, effectiveness, and quality
    Auditors of other banks who are members of the IAIB.                        continuously.
2. The Institute of Internal Auditor (IIA) dan
    Association Certified Fraud Examiner (ACFE) –                         Brief Report on the Implementation of Internal Audit
    Indonesia Chapter                                                     Activities In 2023
    Furthermore, internal audit members are also encouraged
    to become members of The Institute of Internal Auditors               In 2023, the Internal Audit Division (IAD) has prepared an
    (IIA) and the Association Certified Fraud Examiner (ACFE)-            audit work plan or program and carried out audit activities in
    Indonesia Chapter.                                                    accordance with the plans that have been prepared. The work
                                                                          program plan includes the nature and scope of the audit, risk
Code of Conduct of the Auditors                                           assessment, composition and number of the audit team personnel,
                                                                          standard effective of audit work days, length of standard audit
The Internal Audit Code of Conduct is the norms and principles            days, required number of personnel and qualifications for IAD
regarding decency and appropriateness that must be complied               members, and IAD personnel development.
with and implemented by internal auditors, which at least
includes the internal audit code of conduct as stipulated by the          WORK PLAN OF THE INTERNAL AUDIT DIVISION
internal audit professional association, as follows:                      The Internal Audit Division Work Plan is described in the Annual
1. Integrity                                                              Audit Plan book with a working period of 1 (one) year. The
     a. To perform their duties honestly, carefully, responsibly,         Annual Audit Work Plan for the Internal Audit Division (IAD) for
         and thoroughly                                                   2023 has been submitted to the President Director in accordance
     b. To comply with the law and make disclosures in                    with the IAD memo IAD No.252/M/IAD/APSP/XII/2022 dated
         accordance with statutory regulations and the profession.        December 22, 2022, regarding the Proposed Annual Audit Plan
     c. To not intentionally/knowingly engage in prohibited/              for 2023 and has been approved and signed by the Director. In
         illegal activities, do not take actions that could undermine     addition, according to Financial Services Authority Regulations
         the credibility of the Internal Audit and the internal audit     (POJK) No.1/FSAR.03/2019 concerning the Implementation of
         profession.                                                      the Internal Audit Function at Commercial Banks, the Annual Audit
     d. To respect and support the organization's legitimate and          Plan has also obtained approval from the Board of Commissioners
         ethical goals.                                                   in accordance with the Board of Commissioners' letter No.25/
2. Objectivity                                                            KOM/BTN/II/2023 February 8, 2023. Work plans for general
     a. Not involved in activities or have a relationship that            audits 2023 are as follows:
         will reasonably be expected to hinder the Internal




564          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                         2023 Annual Report




Table of the Internal Audit’s Work Plan
                                                   Amount                 Change
               Audit Object                                                                                    Information
                                             2023       2022        +/-        %

 A.       General Audit                       69             91     -22      -24,18

 B.       Audit ICT                           18             16     2        12,50

                                                                                      There is no scheduled plan for carrying out a special audit/
 C.       Special audit investigation          0             0      0         0,00    investigation for 2023, following assignments from stakeholders
                                                                                      and the whistleblowing system.

          Internal Quality Audit (AMI)
 D.                                           27             23     4        17,39
          ISO Certification

          Number of Audit Objects             114        130



IMPLEMENTATION OF THE INTERNAL AUDIT DIVISION WORK PROGRAM
During the period January to December 2023, the Internal Audit Division carried out audit activities with audit objects which include:
1. General audit which includes:
    a. Operational audit of office networks (KC, Sharia KC and Regional Office).
    b. Thematic audits carried out based on certain themes include Credit Management, Collection of Third-Party Funds, Human
        Capital, Procurement of Goods and/or Services, and Treasury.
    c. Mandatory audits are based on provisions issued by the regulator.
2. Information and Communication Technology (ICT) audit which includes
    a. Thematic audits carried out based on certain themes in the scope of ICT management include, among others, Mobile Banking,
        Card Payment Tools (APMK), Treasury Support Applications, as well as audits of Cyber Security with a focus on assessing the
        Bank's readiness to detect and respond to cyber incidents based on NIST Cybersecurity Framework.
    b. Mandatory audits are based on provisions issued by the regulator.
3. Special Audits for suspected fraud or certain purposes.
4. Internal Quality Audit (AMI) ISO certification for work units that have been certified to ISO 9001:2015 (Quality Management
    Standards), ISO 37001:2016 (Anti-Bribery Management System, ISO 37301:2021 (Compliance Management System).


The following are details of the audit implementation during the period January to December 2023:
Table of Realization of the Internal Audit Work Program
  No                                                  Description                                            Target      Realization      % Penc.

      A     General Audit                                                                                      69              71       102,90%

      B     Information & Communication Technology Audit                                                       18              19       105,56%

      C     Special Audit                                                                                        0             14       100,00%

      D     Internal Quality Audit (AMI) ISO Certification                                                     27              38       140,74%

 TOTAL                                                                                                        114             142        124,56%




                                                                                      PT Bank Tabungan Negara (Persero) Tbk                    565
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                                                                Corporate
                                                                Governance




Audit activities during the period of January to December 2023 resulted in 1,027 findings as presented in the following graph of audit
findings for the last 5 (five) years


                                                                  Jumlah Temuan


              4000
                                3.456
                                                       3.237
              3500

              3000                                                              2.817

              2500
                                                                                                        1.588
              2000
                                                                                                                              1.027
              1500

              1000

              500

                0



                              2019                      2020                     2021                    2022                 2023




MONITORING THE AUDIT RESULTS FOLLOW-UP
Follow-up on audit findings is carried out by the auditee. The results of the follow-up implementation are reported to the Head of IAD
and then evaluated to see whether the follow-up is in accordance with the intended purpose. Follow-up that has been completed will
be declared “completely followed-up” and informed to the auditee and the Board of Directors. As for follow-ups that have not been
completed and are still in "pending item" status, the auditee is asked to complete them with the necessary explanation and will be
reported by the Head of IAD to the Board of Directors. Throughout 2023, follow-ups on audit findings have been carried out from the
audit results for 2021, 2022 and 2023 with a resume of audit follow-ups presented in the following table:


 Table of Follow-Ups of the Audit Results Based on Due Date for Completion

                                                                                Completed                Not yet due        % The Completion
     No                  Audit results                  Total findings                                                       of readiness of
                                                                             Total         %      Not yet due        Due         Findings

 1        2                                             3                4              5=4/3     6              7         8=4/(4+7)

 I        Internal Audit Division
 I.1      Year 2023
          General Audit of branch office                558              550            98,57%    7              1         99,82%
          General Audit of Sharia branch office         169              110            65,09%    59             0         100,00%
          General Audit Division and Regional Office    162              84             51,85%    78             0         100,00%
          ICT Audit                                     138              82             59,42%    49             7         92,13%
          Sub Total                                     1027             826            80,43%    193            8         99,04%

 I.2      Year 2022
          General Audit of branch office                908              908            100,00%   0              0         100,00%
          General Audit of Sharia branch office         217              217            100,00%   0              0         100,00%
          General Audit Division and Regional Office    337              337            100,00%   0              0         100,00%
          ICT Audit                                     134              130            97,01%    0              4         97,01%
          Sub Total                                     1596             1592           99,75%    0              4         99,75%

 I.3      Year 2021
          General Audit of branch office                1674             1674           100,00%   0              0         100,00%
          General Audit of Sharia branch office         452              452            100,00%   0              0         100,00%
          General Audit Division and Regional Office    266              266            100,00%   0              0         100,00%
          ICT Audit                                     425              425            100,00%   0              0         100,00%




566            PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                      2023 Annual Report




                                                                                Completed             Not yet due          % The Completion
 No                    Audit results                    Total findings                                                      of readiness of
                                                                             Total       %      Not yet due         Due         Findings

       Sub Total                                        2817             2817         100,00%   0               0          100,00%
       Total Internal Findings                          5440             5235         96,23%    193             12         99,77%
II     External findings
II.1   Financial Services Authority
       Inspection report IT of Financial Services
                                                        148              148          100,00%   0               0          100,00%
       Authority (OJK) Examination 2021
       2021 FSA’s general inspection report             147              147          100,00%   0               0          100,00%
       2022 FSA’s general inspection report             203              203          100,00%   0               0          100,00%
       Total of FSA’s findings                          498              498          100,00%   0               0          100,00%
II.2   Bank Indonesia
       IT and Non IT general inspection of BI 2021      40               40           100,00%   0               0          100,00%
       2022 LBUT Thematic KHP                           52               52           100,00%   0               0          100,00%
       Total of BI findings                             92               92           100,00%   0               0          100,00%
       The Supreme Audit Agency of the Republic
II.3
       of Indonesia
       Management of special fee standards
       (SBK) and subsidies for advance payments         20               20           100,00%   0               0          100,00%
       (SBUM) in 2020
       Management of special fee standards
       (SBK) and subsidies for advance payments         52               42           80,77%    0               10         80,77%
       (SBUM) in 2021
       Total findings of the Financial Audit Agency
                                                        72               62           86,11%    0               10         86,11%
       (BPK) of the Republic of Indonesia
       Republic of Indonesia Financial            and
II.4
       Development Supervisory Agency
       Placement of Funds for the 2022 national
       economic recovery program
                                                        3                3            100,00%   0               0          100,00%
       Review of the social assistance program
       for the family of hope, the Staple Food
       Program and direct cash assistance in
                                                        3                3            100,00%   0               0          100,00%
       2022
       Review of the program to Increase the Use
       of Domestic Products (P3DN) in the Context
       of the Proud Movement Made in Indonesia
                                                        16               16           100,00%   0               0          100,00%
       in 2022
       Total Findings of the Republic of
       Indonesia's Financial and Development            22               22           100,00%   0               0          100,00%
       Supervisory Agency
II.5   Public Accounting Firm
       Management Letter for the financial
       statements for the position of December          46               46           100,00%   0               0          100,00%
       31, 2021
       Management Letter for the financial
       statements for the position of June 30,          26               26           100,00%   0               0          100,00%
       2022
       Management Letter for the financial
       statements for the position of December          35               35           100,00%   0               0          100,00%
       31, 2022
       Total findings of Public Accounting Firm         107              107          100,00%   0               0          100,00%
II.6   PWC
       Internal Audit Function Review Services in
       2023
                                                        17               13           76,47%    4               0          100,00%
       Total findings of PWC                            17               13           76,47%    4               0          100,00%
       Total of external findings                       808              794          98,27%    4               10         98,76%
       Total Internal and External Audit Findings       6248             6029         96,49%    197             22         99,64%




                                                                                     PT Bank Tabungan Negara (Persero) Tbk             567
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THE IMPLEMENTATION OF MEETINGS OF THE INTERNAL AUDIT DIVISION WITH THE BOARD OF DIRECTORS AND THE AUDIT COMMITTEE
Referring to the Internal Audit Charter, the Internal Audit Division regularly holds meetings with the Board of Directors and attends
invitations to meetings with the Board of Commissioners and/or the Audit Committee in order to report on the implementation of the
duties of the Internal Audit Division. Throughout 2023, the Internal Audit Division has held meetings with the Board of Directors, the
Board of Commissioners and the Audit Committee as follows:


Implementation of Internal Audit Division Meetings with the Board of Directors


 No                    Date                                                            Meeting Agenda

  1.   January 26-27, 2023              Director Session and Bank BTN Work Meeting 2023

  2.   May 12, 2023                     Leadership Forum 2023 "Envisioning Culture for Leader"

  3.   March 17, 2023                   Town Hall Meeting - Directors' Direction

  4.   March 20, 2023                   Meeting on Handling Customer Complaints

  5.   May 03, 2023                     Town Hall Meeting - Direction on Achieving Company Performance Targets in 2023

  6.   June 05, 2023                    Town Hall Meeting - Direction on Achieving Company Performance Targets in 2023

  7.   June 27, 2023                    Risk Management Committee Meeting (Komar)

  8.   August 14, 2023                  Meeting on Case/Problem Discussion

  9.   August 14, 2023                  Meeting on Customer Complaint Resolution Discussion

 10.   August 21, 2023                  Meeting on Case/Problem Discussion

 11.   September 11, 2023               Meeting on 2023 Semester 1 Audit Implementation Reporting

 12.   October 27, 2023                 Kick Off Pilot Initial State Strategic Business Unit

 13.   October 31, 2023                 Meeting on 2023 IAD Audit Results Discussion

 14.   November 01, 2023                Meeting on 2023 IAD Audit Results Discussion

 15.   November 10, 2023                Meeting on 2023 IAD Audit Results Discussion

 16.   November 14, 2023                Meeting on 2023 IAD Audit Results Discussion

 17.   December 06, 2023                Town Hall Meeting

 18.   December 12, 2023                Meeting on Performance Review Discussion

 19.   December 14, 2023                Meeting on 2023 IAD Audit Results Discussion

 20.   December 18, 2023                Discussion on National Working Meeting Agenda



Implementation of Internal Audit Division Meetings with the Audit Committee


 No                    Date                                                            Meeting Agenda
  1.   February 27, 2023                Meeting on the discussion of audit principles and audit follow-up

  2.   March 20, 2023                   Meeting on Evaluation Discussion of Supporting Services Performance

  3.   May 08, 2023                     Meeting on the discussion of audit realization, audit follow-up and IAD activities

  4.   June 05, 2023                    Meeting on the discussion of the Employee Disciplinary Sanctions Decision Process

  5.   July 17, 2023                    Meeting on the Discussion of Root Cause and Audit Follow-up

  6.   August 07, 2023                  Meeting on the Discussion of the Review Results of the Internal Audit Function by External Parties

  7.   September 11, 2023               Meeting on the Discussion of Audit Realization

  8.   October 09, 2023                 Meeting on the Discussion of Internal Audit Charter Update

  9.   October 17, 2023                 Audit Committee Direction on Improving Internal Control at Branch Offices

 10.   November 02, 2023                The 2023 Internal Audit Division Working Meeting

 11.   November 13, 2023                Meeting on the Discussion of Developments in Accrued Interest and Audits related to Accrued Interest

 12.   November 13, 2023                Meeting on the Discussion of BTN QRIS

 13.   December 04, 2023                Meeting on the Discussion of Problem Follow-up

 14.   December 13, 2023                Meeting on the Discussion of Fraud Risk Management and ESG Roadmap




568         PT Bank Tabungan Negara (Persero) Tbk
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ASSURANCE REVIEW OF INTERNAL AUDIT
Since December 2017, the Internal Audit Division of Bank BTN has succeeded in upgrading the ISO 9001:2008 quality standard
to ISO 9001:2015. Periodically, surveillance audits have been carried out by external auditors to assess the Internal Audit Division's
compliance with the ISO 9001: 2015 quality standard.

Table of Surveillance Audit Implementation for ISO 9001:2008 and ISO 9001:2015 Certification
 No       External Audit         Year                                                Information
  1.          PT SGS             2021     Implementation of surveillance audits for ISO 9001:2015 certification by PT SGS External Audit

  2.          PT SGS             2022     Implementation of surveillance audits for ISO 9001:2015 certification by PT SGS External Audit

  3.          PT SGS             2023     Implementation of surveillance audits for ISO 9001:2015 certification by PT SGS External Audit




The review of the implementation of the bank's internal audit function as regulated in OJK Regulation No.01/POJK.03/2019 in
assessing the conformity of the internal function with regulations, standards and codes of ethics, as well as efficiency and effectiveness
has been carried out by a minimum of 3 (three) independent assessors. ) once a year with the following description:


 Table of Independent Assessors Regarding Assessment of Audit Implementation

  No                External Audit                 Year                                          Information

                                                             Implementation of the policy, procedure and methodology gap analysis review process
  1.    PT Deloitte Touche Tohmatsu                2018      as well as implementation of audits of SPFAIB best practices every 3 years by the
                                                             External Auditor

                                                             Implementation of the policy, procedure and methodology gap analysis review process
  2.    PT KPMG Sidharta Advisory                  2020      as well as implementation of audits of SPFAIB best practices every 3 years by the
                                                             External Auditor

                                                             Implementation of the gap analysis review process for policies, procedures and
                                                             methodologies as well as implementation of audits of best practices. Standards for the
  3.    PT PricewaterhouseCoopers (PWC)            2023
                                                             Implementation of the Internal Audit Function in Commercial Banks every 3 years by
                                                             an External Auditor


Risk Management Work Unit

The Risk Management Work Unit is a work unit that is directly responsible to the Director who oversees the Risk Management function
and is independent of the Operational Work Unit which is a risk-taking unit, the Internal Audit Work Unit and the Compliance Work Unit.
The company's risk governance which is based on GCG principles is realized from the involvement of all Company organs in managing
risk management. This can be seen from the composition of the Company's risk management organization.


The Board of Commissioners through Risk Monitoring Committee meetings and the Board of Directors through Risk Management
Committee meetings are responsible for ensuring that the implementation of Risk Management is adequate in accordance with the
characteristics, complexity and risk profile of the company. The Board of Commissioners and Directors play an active role in the risk
management process in order to mitigate the company's risks through the Quality of Risk Management Implementation including risk
governance, risk management framework, risk management process and the adequacy of the management information system as well
as the adequacy of the internal control system.


The Company's risk governance which is based on the principles of Good Corporate Governance is realized from the involvement
of all Company organs in managing risk management. This can be seen from the composition of the company's risk management
organization. The Board of Commissioners and Directors are responsible for ensuring that the implementation of Risk Management is
adequate in accordance with the characteristics, complexity and risk profile of the company. The Board of Commissioners and Directors
play an active role in the risk management process in order to mitigate the company's risks through the Quality of Risk Management
Implementation which includes risk governance, risk management framework, risk management process, adequacy of human resources,
and the adequacy of the risk management information system, as well as the adequacy of the control system risk.


Risk Management Work Unit Structure

The Enterprise Risk Management Division (ERMD) is a Risk Management Work Unit (SKMR) at the Company, led by a Division Head
who reports directly to the Director of Enterprise Risk Management & Transformation. The Enterprise Risk Management Division




                                                                                PT Bank Tabungan Negara (Persero) Tbk                        569
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Organizational Structure consists of Market Risk Management Department, Credit Risk Management Department, Operational Risk
Management Department, Operations Risk Controller Management Department, IT Risk Management Department, Integrated Risk
Management Department and Model Validation.




                                            Enterprise Risk Management                                                                Regional
                                                       (ERMD)                                                                          Office

                                       Secretary



                        Credit       Market &        Model
  Intergrated Risk                                                   IT Risk        Operational     Operational      Enviromental,     Regional
    Management        Portofolio   Liquidity Risk   Validation     Management          Risk        Risk Controller     Social &        Business
                         Risk
                     Management
                                   Management                                       Management      Management        Governance        Control
                                                                     IT Risk
    Strategic        Credit Risk     Market &                      Governance        Operational    Operational       Framework           Regional
       Risk           Develop      Liquidy Risk                    Monitoring &          Risk      Risk Controller    & Strategy      Business Control
                        ment           Dev                          Reporting        Development       Analyst       Development        Supervisor
  Risk Culture       Credit Risk     Market &
                     Assesment     Liquidity Risk                     IT Risk        Operational                                            Policy &
                                     Assesment                                                                          Policy &
   Sharia Risk       Commercial                                     Assesment           Risk                                             Implementation
                                                                                                                     Implementation
                     & SME Risk      Market                                          Assesment
                                     Middle
                                     Office                                                                              Data &               Data &
                                                                                                                      Information          Information



                                                                                                                      Reporting &          Regional
                                                                                                                                       Business Control
                                                                                                                     Communication
                                                                                                                                            Officer




                                                          Risk Management Work Unit Structure

Since 2015, the implementation of management activities has                       The Market Risk Management Department functions to ensure the
implemented and obtained ISO 9001:2008 certification which                        effectiveness of managing Market Risk and Liquidity Risk, which
was upgraded to ISO 9001:2015 in May 2018. Certification                          includes, among other things, determining plans that will be
is also continuously maintained every year and an annual                          carried out if the Company experiences financial stress that could
audit is carried out on the implementation of ISO 9001:2015                       endanger business continuity.
certification while continuing to strengthen commitment to continue
working in accordance with implemented quality standards by                       The Operational Risk Management Department functions to
making continuous improvements, fostering a risk culture and                      ensure the effectiveness of the Bank's overall Operational Risk
encouraging the implementation of effective risk management at                    management, including coordinating with Operations Risk
all levels of the company's organization and business activities in               Controller Management and IT Risk Management. Apart from
accordance with applicable regulations                                            that, it functions in managing Legal Risk, Compliance Risk and
                                                                                  Reputation Risk in the Company.
Currently ISO 9001:2015 has been used by various organizations
throughout the world, which can help them run more efficient and                  The Integrated Risk Management Department ensures the
profitable operations. ISO 9001:2015 provides a framework                         effectiveness of Strategic Risk management and functions
for more consistent business performance, excellent service                       to coordinate and ensure the process of integrating risk
and continuous improvement over a long period of time. ISO                        management with strategic planning, performance measurement
9001:2015 provides many advantages and capabilities in                            and providing incentives in order to increase shareholder value,
terms of business scale in recent years. This standard is a very                  increase investor confidence, support the decision making
helpful tool in company development and makes the Bank BTN                        process and increase the efficiency of capital use.
organization more resilient.
                                                                                  The Validation Model generally functions to ensure that each risk
The Credit Portfolio Risk Management Department functions to ensure               is managed in accordance with the ISO 9001:2015 Quality
the effectiveness of the company's Credit Risk management, which                  Management Standard. Apart from that, this unit also plays a
focuses primarily on providing credit or housing financing, whose                 role in carrying out backtesting to ensure the suitability of the
asset portfolio is dominated by Home Ownership Credit (KPR) which                 model used by the Company.
is influenced by changes in the external business climate.



570              PT Bank Tabungan Negara (Persero) Tbk
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                                                                                               2023 Annual Report




Operations Risk Controller Management Department functions as a control tower for monitoring and evaluation activities regarding
the implementation of internal controls in Branch Offices (KC) and Commercial Banking Centers (CBC) which are run by Branch
Business Control (BBC), Commercial Banking Center – Business Control (CBC-BC) dan Regional Loan Processing Center Business
Control (RLPC-BC) yang merupakan organ monoline Kantor Wilayah.


The IT Risk Management Department functions to ensure the effectiveness of IT, Digital & Cyber ​​risk management inherent in the
technology solutions used by the Company to achieve safe and reliable technology services. There are 7 risk domains that are covered,
namely, information and cyber security risk, IT service delivery risk, resilience, and continuity, IT third party risk, data privacy risk,
IT project delivery risk, IT regulatory compliance risk, IT benefit/value risk enablement. Risk management is carried out through a
framework that is in accordance with industry best practices and is integrated with the IT service life cycle to achieve maximum results.


The ESG Department functions as a control tower for ESG activities so that they are in line with the Company's ESG roadmap and
framework. Control towers are carried out on business and operational activities to support the achievement of sustainable development
goals which include, among other things, managing environmental impacts, overcoming social problems and maintaining responsible
and ethical governance standards in banking operations.


In December 2023, the Board of Commissioners has approved the determination of changes to the Phase I organizational structure
related to strengthening digital banking and ESG capabilities which will be implemented in January 2024 so that the Organizational
Structure under the Director of Risk Management is: Retail Credit Risk, Wholesale Credit Risk, Enterprise & ESG Risk Management, Digital
& Operation Risk Management, and Transformation & Partnership Management



                                                                 Director
                                                            Risk Management



          Retail                    Wholesale              Enterprise & ESG Risk     Digital & Operations Risk          Transformation &
        Credit Risk                 Credit Risk                Management                  Management               Partnership Management




Duties and Responsibilities of the Risk Management Work                     the Bank's ability to manage new activities and/or products
Unit                                                                        including the completeness of the systems and procedures
                                                                            used and their impact on the Bank's overall risk exposure.
The Risk Management Work Unit is a work unit that is directly           8. Provide recommendations to business work units and/or to the
responsible to the Director who oversees the Risk Management                Risk Management Committee regarding the implementation
function and is independent of the Operational Work Unit                    of Risk Management, including regarding the amount or
which is a risk-taking unit, the Internal Audit Work Unit and               maximum risk exposure that can be maintained and carry
the Compliance Work Unit. The responsibilities of the Risk                  out escalations as needed.
Management Work Unit include:                                           9. Evaluate the accuracy of the model and the validity of the
1. Provide input to the Board of Directors in preparing policies,           data used to measure risk.
    strategies and Risk Management frameworks.                          10. Prepare and submit Risk profile reports to Regulators,
2. Develop procedures and tools for risk identification,                    Board of Commissioners, Directors and Risk Management
    measurement, monitoring and control                                     Committee periodically or at least quarterly. The frequency
3. Design and implement the tools needed to implement Risk                  of reports is increased if market conditions change rapidly.
    Management.                                                         11. Carry out regular reviews with a frequency adjusted to the
4. Monitor the implementation of Risk Management policies,                  Bank's needs, to ensure:
    strategies and frameworks recommended by the Risk Management            a. adequacy of the Risk Management framework;
    Committee and approved by the Board of Directors.                       b. accuracy of Risk assessment methodology; And
5. Monitoring risk positions/exposures as a whole, as well as               c. adequacy of the Risk Management information system.
    per risk, including monitoring compliance with established          12. Have an integrated Risk Taxonomy for the Bank and Bank
    risk tolerances and limits.                                             subsidiaries in accordance with the needs of monitoring the
6. Conduct stress testing to determine the impact of the                    performance targets of the Bank and Bank subsidiaries.
    implementation of Risk Management policies and strategies           13. The organizational structure, duties and responsibilities as
    on the portfolio or overall performance of the Bank.                    well as other matters including the work procedures of the
7. Review proposed new activities and/or products developed                 Risk Management work unit are regulated in a separate
    by other units. The assessment focuses primarily on aspects of          internal regulation.



                                                                             PT Bank Tabungan Negara (Persero) Tbk                    571
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                                                      Governance




Profile of the Head of the Risk Management Work Unit

The Head of the Enterprise Risk Management Division and also serves as secretary of the Risk Management Committee which is under
the Board of Directors, held by Wilson Arafat based on Directors' Decree No. 63/KUASA/DIR/2021 dated 30 July 2021 and has
been in office until now.



                                                         Educational background
                                                         •   Master of Marketing Management, Gajah Mada University (2004).
                                                         •   Bachelor Degree in Development Economics, Gadjah Mada University (1996)


                                                         Work experience
                                                         •   Transformation Management Office Head (2017-2018)
                                                         •   Procurement & Fixed Asset Management Division Head (2019 – 2021)
                                                         •   Enterprise Risk Management Division Head (2021 - Sekarang)
                                                         •   PLT Transformation & Partenership Management Division (2023 - sekarang)


                                                         Legal Basis for Appointment
                                                         •   Directors' Decree No. 63/KUASA/DIR/2021 dated 30 July 2021

WILSON ARAFAT                                            Certification
Head of Enterprise Risk Management Division              •   Sertifikasi Training for Trainer Manajemen Risiko KKNI Jenjang 6 dan 7, BARa
                                                             (2023)
Indonesian citizen, 49 years old, domiciled in
                                                         •   Certification for Credit Risk Management, Resolusi Akusara Nusantara (2022)-
Jakarta City
                                                             Manajemen Risiko Level IV, BSMR (2021)
                                                         •   Sertifikasi GRC Professional, OCEG (2016)
                                                         •   Certified Human Resource Professional (CHRP), Lutan Education-GML Performance
                                                             Consulting (2011)
                                                         •   Training & Directorship Certification, LKDI (2011)
                                                         •   Certificate of Accomplishment Professional Director, IICD (2011)
                                                         •   Certified Strategy Execution Professional (CSEP), Lutan Education-GML
                                                             Performance Consulting (2010




572           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                      2023 Annual Report




Competency Development in the Field of Risk Management

In the field of human resource development, the Company has implemented an HR development program in the field of education and
training for risk management officials and includes all employees (according to job specifications) including those at ERMD in the context
of risk management certification.


The Company regularly holds risk management certification education and training and actively involves its staff and officials in
accordance with Financial Services Authority Regulation Number 24 of 2022 concerning Development of the Quality of Commercial
Bank Human Resources and OJK Number 28/SEOJK.03/2022 concerning Certification Risk Management for Commercial Bank Human
Resources states that the basis for determining the minimum level of UKMR certification for a job title is the level of the job title from the
Board of Directors in accordance with the applicable organizational structure so that the minimum level of certification for the job title
still refers to the applicable provisions.


The Company also carries out in-house training and conducts pre-tests as an initial screening for officials and employees who will take
the risk management certification exam held by the LSPP (Banking Professional Certification Institute). During 2023, Risk Management
Work Unit employees have conducted training and competency development in the field of Risk Management as follows:

  No.                                                                                  Training Name

   1.          Forecasting Credit Portfolio
   2.          Awareness Training ISO 9001 2015 and Internal Audit
   3.          Backtesting PD PSAK 71 Model
   4.          Forecasting Credit Portfolio
   5.          PPDigital Training and Education
   6.          Bank BTN Business Process Refreshment Training in 2023
   7.          Training on International Standards for ERM Fundamental Risk Management
   8.          Provision and Examination for Level 1 Risk Management Certification
   9.          Credit Scoring Learning
   10.         Practical Microsoft Excel for Data Scientists and Effective Data Reports
   11.         SAS VIYA Training: Interactive Model Building
  1v2.         Sespibank
   13.         Seminar on Sustainable Finance Forum 2023
   14.         Risk Management Certification Refreshment
   15.         Refreshment of Interest Subsidy/Interest Margin
   16.         Leadership Forum “Envisioning Culture For Leader”
   17.         Bank BTN ESG Workshopt
   18.         Risk Economic Outlook 2024
   19.         Cyber Crime Security Awareness Webinar
   20.         GRC Masterclass “Pre IPO & Post IPO”
   21.         Training for Risk Management Trainers


Risk Management Certification


                                                                                                 SMR Level Mapping
                                             Number of
  No            Level Mandatory                                                                                                                Suitability
                                             Employees
                                                                Not SMR yet            Level 4            Level 5    Level 6       Level 7
   1        Mandatory Level 4                   2.816                 694                506              1.616          -                 -    75,36%
   2        Mandatory Level 5                     418                    5                 35                  345     30              3        90,43%
   3        Mandatory Level 6                         8                   -                 4                    1       1             2        37,50%
   4        Mandatory Level 7                       12                    -                  -                   -       1            11        91,67%
 Total Employees                                3.254                 699                545              1.962        32             16        77,26%

Description:

         Employees who are required to be certified but have not yet been certified according to their level
         Employees who are required to be certified and comply with their level

         Employees who are required to be certified and already have certification at a level above that required




                                                                                                      PT Bank Tabungan Negara (Persero) Tbk            573
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                                                                  Governance




Implementation of Risk Management Work Unit Tasks in 2023

During 2023, Bank BTN in implementing risk management is aimed at strengthening the pillars of risk management by prioritizing the
principles of Good Corporate Governance (GCG) in the bank's business operational activities. Targets and initiatives str


                                               Strengthening Risk Governance (Risk Government)
     Determination, management, alignment of the RA RT and RKAP framework; Strengthening Segregation of Duty and 3 LoD
   Active supervision of the Board of Commissioners & Directors through performance reviews, corporate plan transformation and
                                               monitoring & evaluation of RA and RT
                                                Strengthening the Risk Management Framework
                    Transformation of policy architecture (preparation of general risk management policies (KUMR)
                                  Linking Strategy (Corpplan, RBB, RKAP, KPI) with RA, RT and Limit
    Evaluation of the risk management organizational structure with the addition of operational risk control, IT, cyber & digital risk
                                                functions, as well as validation models
                                    Strengthening risk management processes, information systems & HR
                                                 Operational,
                           Market &                                                        IT, Cyber ​​and      Emergency Risk         Model
    Credit Risk                               legal, compliance       Strategic Risk
                         Liquidity Risk                                                      Digital Risk        Management          Governance
   Management                                   and reputation        Management
                         Management                                                        Management               (BCM)            Management
                                              risk management
√. risk assessment    √. Market Risk        √. Implementation      √. Implement         √. Strengthening       √. Evaluation        √. Management
   (Credit Consumer      Management            and assessment         (Join Stress Test    management             of BCM               of model
   & Commercial          through               of product risks       {JST}, KBUMN.        capabilities           Management           governance
√. Remodeling Credit     Middle Office         according to POJK      Internal, Restru     for IT, Cyber ​​    √. Implementation       methods
   Scoring model         Development and √. Operational ATMR          Covid, Tapering      & Digital risk         of Business          (including
                         Implementation        trial  according to    Off)                 management             Impact analysis      market,
√. Development                                                                             (According to                               operational
   of Commercial      √. Managing     daily    the  new   POJK     √. Building  a  Risk                        √. Management
                         liquidity risk                               SIM  according       LoD function)                               and other credit
   Loan EWS and                             √. Building an                                                        of Business          models)
   Underwirting          management            operational tools      to KBUMN (RMI) √. Determine the             Continuity Plan
                      √. Implementation        system (LED, RCSA √. Measurement of         roadmap and                              √. Review of PSAK
√. Development                                                                             development         √. Disaster             71 Modeling
   of SME Credit         of the Internal       &  KRI)  - ORMIS       the Risk Maturity                           Recovery
                         Liquidity                                    Index  (RMI)         stages for 2021
   Scoring &                                √. Implementation of                           -2025                  Management
   Collection Scoring    Adequancy             Branch & Regional √. Implementation
                         Assessment            Operation              of RA  &  RT      √. Implementation
√. Trial RWA credit      Process (ILAAPP)                                                  of the IT Risk
   according to the                            Risk Control           monev
                      √. Trial of Market       to  strengthen                              Roadmap
   new POJK                                                        √. Implementation       (Stages I, II and
                         RWA in                operational risk       of
√. LAR management        accordance with       management                                  III)
   strategy and                                                       environmental,
                         the new POJK       √.  Operational,          social &
   strengthening
   CKPN to NPL                                 Legal & Reputation     governance
                                               management             (ESG) risk
√. Implementation of                           through additional     blueprint &
   the Quality Report                          reserves               roadmap
   portfolio
                                            √. PAB Risk            √. Self-Assessment
√. Development and                             Assessment             TKB
   Implementation of
   Credit Decision                          √. Strengthening the   √. Strengthening
   Engine                                      Credit Operation       Risk Awareness
                                               function               Culture
√. Building a
   collection and                           √. Centralization
   asset sales                                 of accounting
   strategy for SMEs                           and procurement
                                               functions
                                             √. Building analytical
                                                data capabilities
                                                and big data
                                                infrastructure
                                                                                                        Job Enrichment
                                         Building a Risk                   Preparation of
  Carrying out (Join Stress                                                                            Talent Movement           Implementation of
                                   management information             Environmental, Social &
 Test [JST], KBUMN, Internal                                                                         and ISO 9001:2015          the Recovery plan &
                                   system in accordance with           Governance (ESG) and
    Restru Covid, Tap Off                                                                             Recertification and          Resolution Plan
                                        KBUMN and RMI                  Climate Change Risks
                                                                                                          Risk Culture
                                                       Strengthening the Risk Control System




574          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                              2023 Annual Report




In carrying out tasks during 2023, apart from the strategic
initiative pillars mentioned above, the implementation of risk         Review of Risk Management Policies
management has also made several improvements as follows:              In accordance with OJK Regulation No.18/POJK.03/2016
                                                                       dated March 16, 2016 concerning the Implementation of Risk
Determination of Risk Appetite Statement (RAS) and Risk Limits         Management for Commercial Banks, in managing risk banks are
In preparing Risk Management policies and strategies, the              required to implement risk management effectively. To implement
Company's Board of Directors has established a Risk Appetite           risk management effectively, the Company has developed a risk
Statement (RAS) and other risk limits. RAS is reviewed annually        management policy which is contained in a risk management
or at any time taking into account changes in the Company's            policy and at least every year a review and/or update of several
business plans and objectives as well as changes in business           risk management policies is carried out so that they are easily
environmental conditions. RAS is used as an objective guide in         understood by risk owners and risk managers as a guide in
making strategic decisions related to risk management and as a         implementing them. The Company has aligned its internal policy
tool for Management in implementing good business governance.          structure in accordance with the Transformation of Policy and
Next, RAS is reduced to the risk limit for each risk indicator.        Procedure Architecture where policies and procedures are
Determination of RAS and risk limits is carried out by taking into     adjusted to the policy hierarchy from the highest to General
account the level of risk to be taken as well as the Company's         Policy, Special Policy and Technical Regulations. The Company
overall strategy and targets.                                          has a Policy and Procedures Work Unit to periodically review
                                                                       and monitor Policies and Procedures.
The risk limits set include overall risk (composite), per risk type,
and per functional activity. The determination of risk limits is       Implementation of Basel III Credit Risk Minimum Capital Reform
used as a guide for Work Unit activities to manage the type and        Standard Approach
amount of risk that is acceptable.                                     The Company has implemented the calculation of Risk Weighted
                                                                       Assets (RWA) for Credit Risk in accordance with OJK Circular
Action Plan Update (Recovery Plan)                                     Letter No 24/SEOJK.03/2021 dated 7 October 2021
Preparation of a Systemic Company Action Plan (Recovery Plan)          concerning Calculation of Risk Weighted Assets for Credit Risk
As one of the Systemic Banks in Indonesia, the Company has             using the Standard Approach for Commercial Banks. Changes in
the obligation to prepare an Action Plan document (Recovery            the calculation methodology in these provisions include changes
Plan) as regulated in OJK Regulation No. 14/POJK.03/2017               to more granular risk weights and in a larger number of buckets.
Concerning Action Plans. The Action Plan document prepared             Apart from that, there is also a more diverse classification of
contains mechanisms that are expected to prevent, restore and/         portfolio categories and the need to carry out due diligence on
or improve the Bank's financial condition as a result of the           counterparties to ensure understanding of the risk profile and
financial crisis or other financial market disruptions which impact    characteristics of counterparties so that determining risk weights
capital, liquidity, profitability and asset quality which endanger     does not only depend on external ratings.
the Company's business continuity. The Company periodically
updates the Action Plan Document (Recovery Plan) as one of the         Preparation for Implementing Minimum Capital Market Risk
plans in sustainable financial planning. On November 30 2023           Standard Approach
the Bank submitted its 2024 Action Plan (Recovery Plan) to the         In order to implement OJK Circular Letter No. 23/SEOJK.03/2022
Regulator.                                                             dated 7 December 2022 concerning Calculation of Risk-
                                                                       Weighted Assets for Market Risk for Commercial Banks which
Follow-up Resolvability Test on the Resolution Plan                    will be implemented from 1 January 2024, the Bank has carried
The preparation of the Systemic Company Resolution Plan has            out a trial calculation and reported to the OJK for Market RWA
been submitted by the Deposit Insurance Corporation (LPS) as the       for the position of June 2023, September 2023 and December
bank which is obliged to prepare the Resolution Plan document          2023.
in accordance with the Deposit Insurance Corporation Regulation
No. 1 of 2021 concerning Commercial Bank Resolution Plans.             Application of Minimum Capital Operational Risk Standard
The Resolution Plan document prepared contains information             Approach
regarding the Bank and the resolution strategy which is one of         In order to implement OJK Circular Letter No. 6/SEOJK.03/2020
the considerations for the Guarantee Institution in handling or        dated 29 April 2020 concerning Calculation of Risk-Weighted
resolving a Bank that has been determined to be a failed Bank.         Assets for Operational Risk Using the Standard Approach for
The Deposit Insurance Agency has carried out a resolvability test      Commercial Banks has been implemented since 1 January 2023,
on the Bank's Resolution Plan and during 2023 the Company will         so the Bank periodically reviews the recording of operational risk
follow up on recommendations from the resolvability test results.      loss and recovery data.




                                                                           PT Bank Tabungan Negara (Persero) Tbk                  575
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                                                               Corporate
                                                               Governance




Implementation of the Early Warning System (EWS) for the                    Control (BBC) which is a monoline Regional Office and on duty at
MSME, Commercial and Corporate Credit Segments                              Branch Offices and Sharia Branch Offices, Commercial Banking
Early Warning System is a mechanism or system for detection                 Center Business Control (CBC-BC) which is a monoline Regional
or recognition of early signs or symptoms which are expected to             Office and on duty at the Commercial Banking Center (CBC)
influence developments in the progress and decline of the debtor's          and Regional Loan Processing Center Business Control (RLPC-BC)
business conditions. The Early Warning System is implemented to             which is a monoline Office Region and works at the Regional
minimize and prevent losses due to bad credit, so the Bank must             Loan Processing Center.
implement an effective and sustainable system for monitoring the
credit facilities that have been provided.                                  Continuous strengthening of the Business Control organ has been
                                                                            carried out by periodically prioritizing risks (Top 10 Risks) which
In this case, the Risk Management Work Unit together with related           are reported to the Board of Directors. The Bank also plans to
business units routinely monitors portfolio quality and early               establish Operational Risk Control at the directorate level as part
warning indicators for the asset quality of the credit portfolio. It is     of operational risk mitigation at the directorate level.
hoped that this effort can be used to monitor MSME, Commercial
and Corporate credit debtors so as to provide information                   IT, Digital & Cyber Risk
in the form of early warnings about the possibility of debtors              In 2023, the Bank has strengthened IT, digital & cyber risk
experiencing default.                                                       management by monitoring IT, digital & cyber risk profiles, and
                                                                            implementing a program to strengthen digital and cyber attack
Preparation and Implementation of Portfolio Guideline for                   risk control. The IT, digital & cyber risk profile components were
Commercial, Corporate and Financial Institutions Segments                   developed using the applicable OJK provisions as a basis, and
The Company's steps in strengthening financing risk management              carried out the necessary developments to adapt to the Bank's
to control the composition of the Company's credit portfolio and            conditions and were connected to the key risk indicator matrix
ensure a healthy credit portfolio growth rate are that Bank BTN             that had been formed. Reporting on the risk profile and key risk
carries out credit risk management through the Portfolio Guideline          indicators is carried out regularly to Management to provide
in order to prevent the bank from the dangers of concentration              comprehensive visibility.
risk. The Portfolio Guideline is a strategic initiative in the
distribution of Company financing to always pay attention to the            Strengthening digital and cyber attack risk control is carried
latest macroeconomic conditions, especially in certain sectors              out using a 3 pillar transformation approach, namely people,
that are considered still worthy of financing, including several            processes and technology. From the people side, strengthening
sectors that can be used as priority sectors, including aspects of          is carried out through an internalization program for IT, digital &
analysis and monitoring of NPF per sector. industry, financing              cyber risk management which aims to convey an at the top tone
limits per industrial sector and industrial sector prospects in             from the Board of Directors to all employees, and equip employees
supporting the development of the Company's business ventures.              by increasing employee awareness of IT, digital & cyber threats
                                                                            and how to prevent them. From a process perspective, the Bank
Development of Credit Scoring Model (CSM) for the Small                     has strengthened internal processes related to IT and digital, such
Medium Enterprise (SME) Segment                                             as reviewing policies and procedures related to IT and digital,
In an effort to minimize the risks that the Company will accept             monitoring risks on strategic IT projects. From a technology
in providing credit to the SME segment, a Credit Scoring Model              perspective, the Company has made improvements to tools.
(CSM) is needed. The SME Credit Scoring Model is used to assist             and also rules that have been implemented to improve the
in analyzing and quantifying the suitability of prospective debtors         safeguarding of the Bank's computer assets.
with recommendation results in the form of High Risk or Low Risk.
                                                                            The Board of Directors, through the Information Technology
Strengthening Regional Business Control (RBC), Branch Business              Steering Committee, carries out evaluations of IT, digital & cyber
Control (BBC), Commercial Banking Center Business Control                   risks which are carried out through regular meetings at least 4
(CBC-BC), and Regional Loan Processing Center Business Control              (four) times during the current year with one of the discussions
(RLPC-BC)                                                                   relating to IT Key Risk Indicator (KRI) Monitoring. Furthermore,
The Company has an organ to improve operational risk                        the Board of Commissioners also reviews the results of IT, digital
supervision and mitigation/prevention of operational loss by                & cyber risks once a year.
implementing the Operations Risk Controller Department in the
Risk Management Work Unit and placing the Regional Business
Control (RBC) organ in the Regional Office, Branch Business




576          PT Bank Tabungan Negara (Persero) Tbk
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Continuing Development and Strengthening Utilization of Risk                 10. Utilization of the integrated Operational Risk Tools
Management Tools                                                                 application as an effort to manage operational risk in Work
To strengthen the utilization of Risk Management Tools, several                  Units, including LED, RCSA and KRI tools.
developments have been carried out, including:                               11. Create a Fraud Detection System application which functions
1. Implementation of a market risk monitoring system/interest                    as a tool to assist the Bank in the process of prevention,
    rate risk in the banking book (IRRBB) and Liquidity Risk                     detection, investigation and monitoring of fraud, especially
    monitoring application.                                                      in transactional banking.
2. Utilization of the Bloomberg Terminal to support the effective            12. Utilization of Operational Risk data visualization in the
    implementation of risk management in supporting the                          context of risk prioritization (Top 10 Risks) which can be used
    management of liquidity risk, credit risk and other risks.                   by management.
3. Strengthening the role of risk management by developing                   13. ddition of data analytics functions as the basis for Business
    Sustainability Environment Risk Management.                                  Control organs in carrying out internal control testing.
4. Enhancement of the Credit Scoring Model (CSM) for
    consumer credit.                                                         Establishment of ESG Management
5. Developing a Credit Scoring Model (CSM) for the SME
    segment.                                                                 The Company focuses on implementing ESG as demonstrated
6. Developing an Early Warning System for the Commercial                     by making changes to the organizational structure of the
    and Corporate segments.                                                  Enterprise Risk Management Division in November 2023,
7. Re-modeling the Internal Credit Rating for the Commercial                 through the formation of the ESG Department. The function of
    and Corporate segments.                                                  ESG Management is to act as a control tower for ESG issues in
8. Developing Collection Scoring for the Consumer segment.                   both business and operational processes. To support its activities,
9. Maintenance of ISO implementation in ERMD through                         ESG Management has 4 units, namely Framework & Strategy
    Surveillance and ISO 9001:2015 Recertification in                        Development, Policy & Implementation, Data & Information, and
    the Risk Management Work Unit to improve the quality                     Reporting & Communication
    service standards of the Risk Management Work Unit to all
    stakeholders.



ESG Framework, Strategy, Roadmap and Quickwins
The Company has the following ESG framework, strategy, roadmap and quick wins:




                                                         The Future of Finance



                                                             ESG in the value chain




                                                               Climate Change &
                                  Sustainable Finance                                          People & Community
                                                                   Ecosystems




                                                            Stakeholder inclusiveness




                                                              Integrated GRC


                                Governance                           Risk                             Compliance


                                                              Integrated GRC




                                                                                      PT Bank Tabungan Negara (Persero) Tbk              577
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                                                         Corporate
                                                         Governance




"The Future of Finance" is the Company's ESG framework, a set           •    Management of impacts on humans and the community
of principles that provide guidance for the Company in managing              as well as the wider community in general (people and
and carrying out business practices that are oriented towards                community).
impact performance and support the achievement of sustainable
development goals.                                                      The framework built is based on awareness of the Company
This framework is the basis for managing business activities and        and its stakeholders (stakeholder inclusiveness) throughout the
operations as well as a more comprehensive decision-making              Bank's value chain (ESG in the value chain), which forms an
process, including:                                                     interdependent system where these relationships create risks and
• Management of products and services that support the                  opportunities related to sustainability for the Company that need
    transition process towards a low-carbon economy and                 to be managed in an integrated manner. integrated to enable
    maintain social balance in opening up equal access to               the Company to achieve goals and overcome uncertainty with
    capital (sustainable finance);                                      integrated GRC.
• Management of climate change risks and their impact on
    ecosystem capacity (climate change and ecosystems);                 The Bank's ESG Strategy is the Bank's concrete steps in
                                                                        implementing the ESG framework using 9 (nine) strategic steps
                                                                        which will be implemented inclusively.




       6 Components of the ESG Framework                                      9 Components of the ESG Framework



                                                               Carry out sustainable bank business operations
                   Sustainable Finance


                                                               Developing bank products and portfolio management
                                                               sustainable and inclusive


               Climate Change & Ecosystems
                                                               Integrate ESG components within the framework
                                                               and enterprise risk management programs




                                                               Developing an ESG culture program and responsible leaders
                   People & Community


                                                               Building a control environment
                                                               which is integrated with ESG components


                  ESG in the value chain                       Developing an ESG monitoring program,
                                                               communication, and reporting




                                                               Building ESG Data Management
                 Stakeholder inclusiveness


                                                               Navigate trends in ESG rules and regulations



                     Integrated GRC
                                                               Building partnerships and collaboration




578         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                    2023 Annual Report




Realizing "The Future of Finance" through implementing a roadmap which is carried out in stages and on target by dividing it into 3
(three) phases, namely Action, Advance and Accelerate.




        Action Phase                                                          Advance Phase                                                          Advance Phase
       (2023 - 2025)                                                           (2025-2026)                                                            (2025-2026)


                      By taking action BTN improves ESG practices that accelerate positive impacts on the environment, economy and society at large




The action phase is supported by the Bank implementing several quick win strategies, including:


Number of                                                   procurement of           An awareness session           Hold awareness             Initiating activities
                                Have installed solar
emissions                                                   electric vehicles        regarding sustainable          sessions to
                                panels on
                                                                                                                                               Green
                                                                                                                   50
from the electricity use of                                 (EV) as operational      procurement was


                                3
all BTN offices                        own BTN              vehicles                 provided to                                  MSMEs
                                       office                                                    TOP Vendor                                    Champions
                                                                                     50          BTN                related to


                                                                          8
                                                                                                                    sustainable
                                                                                                                    business

  E     G                       E                          E                            E         S                  S                           E



                              ESG                                                                                20                           100
                                                                                                                            employee
Credit distribution to
                                                         Includes 12 Categories
                                                         of Sustainable Business     Internal                                             E                     employee
MSMEs reached
                                                         Activities in
                                                                                     Management
20%                           Exclusion List
                              version 1 is included
                                                         Portfolio                   Action Plan
                                                                                                                 have attended related
                                                                                                                 awareness sessions
                                                                                                                 Climate Risk Stress Test
                                                                                                                                              have attended awareness
                                                                                                                                              sessions related to ESG

of total productive           in the draft BTN ESG       Guidelines                  related to reporting
                                                                                     THI
financing                     General Policy                                                                                                   E      S     G
                                                                                                                 Committee ESG
  S                             E      S     G             E    S     G                E      S       G          has been formed
                                                                                                                                     G        Prepared
                                                                                                                                              methodology              G
                              Launch                     Commemorate
                                                                             S       20%                    S
                                                                                                                 A draft has been
                                                                                                                 prepared              G      Stakeholder
50            employee
                              ESG                        National
                                                         Disability Day
                                                                                     women in management
                                                                                     ranks
                                                                                                                 General ESG
                                                                                                                 Policy and
                                                                                                                                              engagement

                                                                                     25
involved in Employee          innovation day             and                                                                                  Become a member
Volunteering Day              for internal BTN                                                        employee   list of ESG
                                                                                                                 regulations                  IBCSD or
                                                         0.1%
activities
                                                                                     Internal audit
                                                                                     Participate in awareness
                                                                                                                 and standards                Kadin Net
                                                                                     sessions related to ESG
                                                         employees are Persons
                                                         with Disabilities
                                                                                     in the audit program        Website ESG                  Zero or IKBI
  S                             E      S                                               S                         BTN G                         G




                                                                                              PT Bank Tabungan Negara (Persero) Tbk                                    579
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                                                            Corporate
                                                            Governance




Implementation of Stress Testing                                         Risk Management Committee
The Company periodically carries out Stress Testing to assess the
Company's resilience to stress/crisis scenarios:                         The Risk Management Committee (KOMAR) plays an active role
1. Stress Testing Internal for Credit Risk, Market Risk and              in providing recommendations to the President Director regarding
    Liquidity Risk is carried out semi-annually.                         the risks inherent in policies that will be determined by the Board
2. Reverse Stress Testing Recovery Plan for Credit Risk, Market          of Directors as well as providing evaluations of provisions that are
    Risk and Liquidity Risk has been updated to meet the reporting       deemed to be less appropriate with current developments and
    requirements of the Recovery Plan Document in November               need to be adjusted. KOMAR is actively involved in assessing the
    2023.                                                                risks inherent in each new product and/or service/activity so that
3. The Company is preparing internal control testing which will          the Company can take the necessary mitigation steps and also
    be carried out periodically as an effort to mitigate operational     evaluate the Risk Management Policy Guidelines (PKMR).
    risks at the Bank.
                                                                         The Risk Management Committee is a committee that plays a
Regular Bank Wide Risk Management Monitoring                             role in providing recommendations to the President Director to
The Bank always implements risk management in accordance                 formulate policies, strategies and risk management targets as
with OJK Regulation No.18/POJK.03/2016 dated 16 March                    well as facilities for monitoring and making decisions related to
2016 concerning the Implementation of Risk Management for                the implementation of the Company's risk management.
Commercial Banks where the Bank periodically carries out
bankwide monitoring as evidenced by several mandatory report             RISK MANAGEMENT COMMITTEE WORK GUIDELINES
outputs to the Regulator including :                                     The work guidelines for the Risk Management Committee
1. Recovery Plan;                                                        refer to Special Policy Number KK.9-D dated March 30 2023
2. Resolution Plan;                                                      concerning Directors' Governance Procedures. These guidelines
3. Leverage Ratio;                                                       regulate, among other things, Committee Responsibilities,
4. Risk Profile;                                                         Committee Duties and Functions, Committee Authorities, Duties
5. Bank Health Level;                                                    of the Chair, Secretary and Committee Members and Procedures
6. Minimum Capital Requirement according to Risk Profile;                for Conducting Committee Meetings.
7. Liquidity Coverage Ratio;
8. Net Stable Funding Ratio;                                             DUTIES AND RESPONSIBILITIES OF THE RISK MANAGEMENT
9. Maximum Credit Granting Limit;                                        COMMITTEE
10. Risk Weighted Assets;                                                The Risk Management Committee is responsible for decisions
11. Reports to the Ministry of BUMN; And                                 made at the Risk Management Committee Meeting, submitting
12. Other Adhock reports.                                                reports on Significant Decisions made to the Board of Directors
                                                                         Meeting, as well as determining corrective steps regarding
Committees Under the Board of Directors                                  matters relating to the implementation of risk management in the
                                                                         Company.
The Company forms and determines the structure and
membership of Committees under the Board of Directors in                 The task of the Risk Management Committee is to evaluate and
order to support the implementation of the Board of Directors'           provide recommendations to the President Director regarding risk
duties. These committees play a role in facilitating monitoring          management which at least includes:
and creating effective problem solving and developing aspects            1. Preparation of Risk Management Policy and changes thereto,
deemed strategic by the Company in accordance with applicable                including risk management strategies and contingency plans
regulations. These Committees include:                                       in the event of abnormal external conditions. The preparation
1. Risk Management Committee;                                                is carried out jointly with the Division/Desk Head of the
2. Asset and Liability Management Committee (ALCO);                          operational work unit and the Enterprise Risk Management
3. Credit Policy Committee;                                                  Division Head.
4. Credit Committee;                                                     2. Improvements or improvements to the implementation of
5. Human Capital Committee;                                                  risk management carried out periodically or incidentally
6. Information Technology (IT) Steering Committee;                           as a result of changes in the Bank's external and internal
7. Transformation Steering Committee;                                        conditions which affect the Bank's capital adequacy and risk
8. Business Committee;                                                       profile as well as the results of evaluations of the effectiveness
9. Environmental, Social and Governance (ESG) Committee.                     of such implementation.




580         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                      2023 Annual Report




3. Making business decisions that deviate from normal                                    4. Monitoring and managing risks.
   procedures (Irregularities), such as decisions to exceed                              5. Integrated risk management strategy with capital adequacy.
   significant business expansion compared to the bank's                                 6. Establish a risk management framework and methodology.
   previously determined business plan or taking risk positions/
   exposures that exceed predetermined limits.



RISK MANAGEMENT COMMITTEE MEMBERSHIP STRUCTURE
The Risk Management Committee is regulated in Special Policy Number KK.9-D dated March 27, 2023 concerning Directors' Governance
Procedures, with the following structure:



           Structure                                             Position                                         Voting Rights                    Information

 Chairman
 (Concurrently Permanent           Director in charge of Risk Management                                                 √                Permanent member
 Member)

                                   Director in charge of Asset Management*                                               √                Permanent member

                                   Director in charge of Finance**                                                       √                Permanent member

                                   Director in charge of Credit and Financing                                            √                Permanent member

                                   Director in charge of Funds and Networks                                              √                Permanent member
 Directors / SEVP
 (Permanent member)
                                   Director in charge of Institutional Banking                                           √                Permanent member

                                   Director in charge of Human Capital, Compliance and Legal                             x                Permanent member

                                   Director in charge of Information Technology                                          √                Permanent member

                                   SEVP in charge of Wholesale Banking                                                   √                Permanent member

                                   SEVP in charge of Operations                                                          √                Non-Permanent Member
 Directors / SEVP
 (Non-Permanent Member)
                                   SEVP in charge of Compliance and Legal                                                x                Non-Permanent Member

Information:
If the President Director/Deputy President Director attends the Risk Management Committee Meeting, the President Director/Deputy President Director acts as chairman and has
voting rights.
*) Substitute Chairman I
**) Substitute Chairman



PROFILE OF RISK MANAGEMENT COMMITTEE MEMBERS                                             TERM AND PERIOD OF OFFICE OF THE RISK MANAGEMENT
The profiles of the members of the Risk Management Committee,                            COMMITTEE
both from the Board of Directors and SEVP of the Company, can                            The term of office and term of office of the Risk Management
be seen in the Company Profile Chapter in the Profile of Directors                       Committee, whether from the Board of Directors or SEVP of the
and Profiles of Officials One Level Below Directors section in this                      Company, follows the term of office of the Directors and Heads
Annual Report.                                                                           of Divisions of the Company who are members of the committee.


INDEPENDENCE OF THE RISK MANAGEMENT COMMITTEE                                            TRAINING AND COMPETENCY DEVELOPMENT
All members of the Risk Management Committee have no                                     Training for Risk Management Committee members from
financial, management, share ownership and/or family                                     the Board of Directors can be seen in the Training and/or
relationships with the Board of Commissioners, Directors and/                            Competency Improvement Sub-chapter for Directors Members in
or Controlling Shareholders or relationships with the Company,                           the Corporate Governance Chapter of this Annual Report.
which could affect their ability to act independently.
                                                                                         MEETINGS AND IMPLEMENTATION OF DUTIES OF THE RISK
TRANSPARENCY OF THE RISK MANAGEMENT COMMITTEE                                            MANAGEMENT COMMITTEE IN 2023
Disclosure of transparency of multiple positions of members of the                       The Risk Management Committee meeting policy is regulated
Risk Management Committee from the Board of Directors can be                             in the Risk Management Committee Implementation Guidelines.
seen in the Corporate Governance Chapter in the dual positions                           Based on this Policy, Risk Management Committee meetings are
section of this Annual Report.                                                           held at least once every 3 (three) months. During 2023, the Risk
                                                                                         Management Committee has held 16 (sixteen) meetings. The
                                                                                         implementation date and meeting agenda are as follows.




                                                                                               PT Bank Tabungan Negara (Persero) Tbk                                581
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                                                              Corporate
                                                              Governance




      Implementation                                                       Assets and Liabilities Committee)
No                                       Agenda
           Date
                                                                           The Asset and Liability Committee or hereinafter referred to as
                        Discussion of Self-Assessment Results of
      January 17,       Conventional and UUS Risk Profile Reports          ALCO was formed by the Board of Directors with the aim of
1.
      2023              for Quarter IV/2022 and Bank Soundness             assisting the Board of Directors in formulating policies, compiling
                        Levels for Semester II/2022
                                                                           and establishing market risk management strategies as well as
      January 31,       Discussion regarding the results of the            facilities for monitoring and making decisions regarding the
2.
      2023              Bank BTN Risk Maturity Index Report                implementation of the Company's Asset Liability Management
                        Discussion Regarding Internal Stress Test
                                                                           (ALM) to maximize profitability and maintain the structure of the
3.    April 4, 2023
                        Results                                            Company's balance sheet.

                        Discussion Regarding the Self-Assessment
4.    April 18, 2023    Results of the Conventional and UUS Risk           WORK GUIDELINES FOR THE ASSET AND LIABILITIES
                        Profile Report for Quarter I/2023                  COMMITTEE
                                                                           ALCO work guidelines refer to Special Policy No. KK.9-D
                        Discussion Regarding the Progress of
5.    May 29, 2023      Credit Scoring Model (CSM) Development             concerning Governance Procedures for the Board of Directors
                        for the SME Segment                                Committee. This Special Policy regulates, among other things,
                        Approval of Risk Profile Limit Review and
                                                                           matters that serve as guidelines for Bank officials in carrying out
6.    July 4, 2023
                        AL/DPK Risk Tolerance Review                       their duties and functions as a Board of Directors Committee and
                                                                           the implementation of Board of Directors Committee Meetings,
                        Discussion Regarding the Self-Assessment
                        Results of the Bankwide and Sharia Risk            one of which is the Assets and Liabilities Committee (ALCO),
7.    July 18, 2023
                        Profile Report for Quarter II/2023 and             including:
                        Bank Health Level for Semester I/2023              1. Classification of types of Board of Directors Committees,
                        Discussion regarding the Portfolio                 2. Functions, duties and responsibilities of the Board of Directors
8.    August 01, 2023
                        Guideline                                               Committee.
                                                                           3. Membership of the Board of Directors Committee.
9.    August 09, 2023   Proposed Revocation of Regulations
                                                                           4. Procedures for holding Board of Directors Committee
                        1. Proposed Specific Policies for                       Meetings.
                           Collaboration with Partners.
      September 12,     2. Proposal for Initiating Special Policies        5. Mechanism for Reporting Significant Decisions to the Board
10.
      2023                 for the Board of Directors Committee.                of Directors.
                        3. Proposed Special Policies for Public            6. Other matters related to the Board of Directors Committee.
                           Service Management.


      September 26,
                        Submission of Results of Preparation of            DUTIES AND RESPONSIBILITIES OF THE ASSET AND LIABILITIES
11.                     Bank BTN's ESG Framework, Strategy
      2023                                                                 COMMITTEE
                        and Roadmap with assistance from KPMG
                                                                           Responsibility
      October 17,       Bankwide Risk Profile Self Assessment              1. The Assets and Liabilities Committee is responsible
12.
      2023              Results.
                                                                               for evaluating, developing and establishing liquidity
      October 24,       Risk Appetite, Risk Tolerance 2024 and                 management strategies, so that the Bank can fulfill maturing
13.
      2023              Risk Appetite Statement                                obligations from cash flow funding sources and/or from high
      November 24,      Submission of the proposal to complete                 quality liquid assets that can be pledged as collateral, without
14.
      2023              the 2024 Recovery Plan Document                        disrupting the Bank's activities and financial condition.
                                                                           2. The Assets and Liabilities Committee is responsible for
      December 22,
15.                     Streamlining Bank Internal Regulations                 determining and evaluating the Bank's asset and liability
      2023
                                                                               position in accordance with the objectives of managing
                        Submission of Proposal for the
      December 28,                                                             liquidity risk, interest rate risk and exchange rate risk.
16.                     Establishment and Operating Model of
      2023                                                                 3. The Assets and Liabilities Committee is responsible for
                        Operational Risk Control (ORC)
                                                                               determining and evaluating the pricing of the Bank's assets
                                                                               and liabilities, to ensure that the prices can optimize the
                                                                               results of investment, minimize the cost of funds, and maintain
                                                                               the Bank's balance sheet structure in accordance with the
                                                                               Bank's ALMA strategy.




582       PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                       2023 Annual Report




4. The Assets and Liabilities Committee is responsible for                                   b. Request the relevant Work Unit to implement and follow
   determining and evaluating the implementation and                                             up on the results of the Asset and Liability Committee
   results related to the management of the Bank's assets and                                    Meeting.
   liabilities, which at least includes: liquidity management; gap                           c. Request the relevant Work Units to report on the
   management (maturity and repricing risks); foreign exchange                                   implementation of the results of the decisions of the
   management; income and investment management.                                                 Asset and Liability Committee Meetings periodically,
5. The Assets and Liabilities Committee is responsible for                                       the implementation of which is carried out by the
   evaluating, developing and establishing ALIVA Bank                                            Management Unit in charge of Compliance.
   management strategies every 6 (six) months.                                            3. The duties and functions of the Asset and Liability Committee
                                                                                             can also decide that the Bank is in a liquidity crisis condition
Task                                                                                         in accordance with the provisions of the Contingency Funding
1. The duties and functions of the Assets and Liabilities                                    Plan (CFP).
    Committee include the following:                                                         a. Declares that the Bank is in a liquidity crisis condition
    a. Manage liquidity management strategies, market                                            based on the Liquidity Crisis Management Committee
        risk management strategies, credit risk management                                       (LCMC) Recommendations and states that the liquidity
        strategies, and Bank asset and liability management                                      crisis has been successfully resolved.
        strategies in order to meet the Bank's liquidity needs.                              b. Activate the Contingency Funding Plan (CFP) when a
    b. Minimize idle funds.                                                                      liquidity crisis occurs and deactivate it again when the
    c. Maximizing Bank profitability and maintaining the                                         liquidity crisis has been resolved.
        Bank's balance sheet structure.                                                      c. activate the Contingency Funding Plan Command Center
2. The duties and functions of the Asset and Liability Committee                                 (CFPCC) when a liquidity crisis occurs and deactivate it
    related to the Asset and Liability Committee Meeting or                                      again when the liquidity crisis has been resolved.
    ALCO Meeting include the following:
    a. Decide on all issues discussed in the Asset and Liability
        Committee Meeting agenda in accordance with their
        duties and responsibilities.



MEMBERSHIP STRUCTURE OF THE ASSET AND LIABILITIES COMMITTEE

      Structure                                                  Position                                               Voting Rights                Information

 Chairman                President director                                                                                     √           Permanent member

                         Vice director *)                                                                                       √           Permanent member

                         Director in charge of Finance                                                                          √           Permanent member

                         Director in charge of Asset Management                                                                 √           Permanent member

                         Director in charge of Risk Management                                                                  √           Permanent member

 Directors / SEVP        Director in charge of Credit and Financing                                                             √           Permanent member

                         Director in charge of Funds and Networks                                                               √           Permanent member

                         Director in charge of Institutional Banking                                                            √           Permanent member

                         Director in charge of Information Technology                                                           √           Permanent member

                         Director in charge of Human Capital, Compliance and Legal**                                            X           Permanent member

                         SEVP in charge of Wholesale Banking                                                                    √           Permanent member

 SEVP                    SEVP in charge of Compliance and Legal                                                                 X           Non-Permanent Member

                         SEVP in charge of Operations                                                                           √           Non-Permanent Member

*Alternate Chairman 1
**In the event that the Director in charge of Human Capital, Compliance and Legal is absent, he can be replaced by the SEVP in charge of Compliance and Legal




PROFILE OF ASSETS AND LIABILITIES COMMITTEE MEMBERS                                       INDEPENDENCE OF THE ASSET AND LIABILITIES COMMITTEE
The profiles of ALCO members from the Company's Board of                                  All ALCO members have no financial, management, share
Directors and SEVP can be seen in the Company Profile Chapter                             ownership and/or family relationships with the Board of
in the Directors' Profiles and Officers' Profiles one level below the                     Commissioners, Directors and/or Controlling Shareholders or
Directors in this Annual Report.                                                          relationships with the Company, which could affect their ability
                                                                                          to act independently.




                                                                                               PT Bank Tabungan Negara (Persero) Tbk                               583
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                                                                 Corporate
                                                                 Governance




TRANSPARENCY OF THE MULTIPLE POSITIONS OF THE ASSET                           TRAINING AND COMPETENCY DEVELOPMENT
AND LIABILITIES COMMITTEE                                                     Training for ALCO members from the Board of Directors can
Disclosure of transparency of multiple positions of ALCO members              be seen in the Training and/or Competency Improvement Sub-
from the Board of Directors can be seen in the Corporate                      chapter for Directors Members in the Corporate Governance
Governance Chapter in the dual positions section of this Annual               Chapter of this Annual Report.
Report.
                                                                              MEETINGS AND IMPLEMENTATION OF TASKS OF THE ASSET
TERM AND PERIOD OF OFFICE OF THE ASSET AND LIABILITIES                        AND LIABILITIES COMMITTEE IN 2023
COMMITTEE                                                                     ALCO Committee meeting policies are regulated in the ALCO
The term of office and term of office of ALCO, whether from the               Committee Implementation Guidelines. Based on this Policy, ALCO
Board of Directors or SEVP of the Company, follows the term of                Committee meetings are held at least 1 (one) time in 1 (one) month,
office of the Directors and Heads of Divisions of the Company                 but if deemed necessary, the Committee Chair can hold meetings at
who are members of the committee.                                             any time. During 2023, ALCO has held 13 (thirteen) meetings. The
                                                                              implementation date and meeting agenda are as follows.



  No        Date                           Agenda                               No        Date                           Agenda

         January 3,    -   Providing bailout for KPR Sejahtera FLPP                                  -   Retail E-Deposit Counter Rate
 1.
         2023              2023 distribution                                                         -   Cash Flow Projection for June 2023
                                                                                       June 20,
                                                                               7.                    -   Application for Non-Subsidized Consumer
                       -   Evaluation of Special Rate Deposits under                   2023
                                                                                                         Credit Interest Rates
                           the Authority of the Board of Directors
                                                                                                     -   Negotiation of the Tapera KPR Scheme
                       -   Proposed e'Retail Deposit Counter Rate
                       -   Proposal to increase the quota for Investa                                -   Inauguration of the DPK Special Rate Policy
                           and Investa Plus savings                                                      for July 2023
                       -   Evaluation of SKBDN and SCF Interest Rate                                 -   Evaluation of the Rupiah Special Rate
         January 25,
 2.                        Policies                                                    July 11,          Deposit Policy
         2023                                                                  8.
                       -   Proposed Policy for Reducing Special                        2023          -   Adjustment of BTN iB Prima Giro Counter
                           Interest Rates for Debtors Who Meet KMK                                       Ratio
                           Platinum                                                                  -   Proposed Special Subsidized KPR Interest
                       -   Proposed Interest Rate Promo for BTN's                                        Rates for ASN IKN
                           73rd Anniversary                                                          -   Proposed Counter Rate for Deposits and
                       -   Proposed Extension of the KP Ruko Promo                                       Felas Savings
                       -   Proposed Nisbah for the Blessing Savings                                  -   Evaluation of the Special Rate Policy for
                           Program, Nisbah Counter Giro Prima BTN                                        Rupiah and Foreign Currency Deposits
                           iB, and Authority to Decide the Nisbah for                                -   Proposed Special Rate for Investa Plus Savings
                                                                                       09 August
                           the Giro PPO Program                                9.                    -   Proposed Special Ratio for the Blessing
                                                                                       2023
                       -   Proposed margin adjustment for KPR HITS                                       Savings Program
                           BTN iB for Millennials                                                    -   Application for Non-Subsidized Consumer
                       -   Application for Extension of SME Credit                                       Credit Interest Rates
                           Interest Rates Specifically for BPJS Health                               -   Application for Special Interest Rates for
                           Partners, Pertamina Gas Stations and State                                    Passive and NPL Asset Purchases
         February
 3.                        University Partners (PTN)                                                 -   Inauguration of the Special Rate Policy
         28, 2023
                       -   Proposed Non-Subsidized KPR/KPA Interest                                      for Investa Plus Savings and IDR Deposits
                           Rates                                                                         September 2023
                       -   Interest Rates for Electric Vehicle Financing                             -   Proposed Changes to the IDR e'Retail
                       -   Inauguration of the 2023 FLPP Prosperous                    September
                                                                               10.                       Deposit Counter Rate
                           KPR Disbursement Bailout                                    12, 2023
                                                                                                     -   Evaluation of the IDR Special Rate Deposit
                       -   Proposed Nisbah for the Blessing Savings                                      Policy
                           Program, Nisbah Counter Giro Prima BTN                                    -   Evaluation and Extension of Promo KPR
                           iB, and Authority to Decide the Nisbah for                                    Interest Rates
                           the Giro PPO Program
                                                                                                     - Proposed Foreign Currency Third Party Fund
                       -   Evaluation of the Special Rate for USD and                                   Interest Rates
         March 13,         IDR Deposits                                                              - Evaluation of the Rupiah Third Party Fund
 4.
         2023          -   Proposed Non-Subsidized Consumer Credit                     October          Special Rate Policy
                           Interest Rates                                      11.
                                                                                       10, 2023      - Evaluation of KAR Project Eagle Interest Rates
                       -   Evaluation of the Rupiah Special Rate                                     - Evaluation of Commercial and Corporate
                           Deposit Policy                                                               Segment Credit Interest Rates
         April 11,                                                                                   - Evaluation of KAR Project Eagle Interest Rates
 5.                    -   Evaluation     of    Secondary      Reserve
         2023
                           Management                                                  November      -   Evaluation of the Rupiah Special Rate
                       -   Evaluation of Special Rate Credit Authority         12.
                                                                                       14, 2023          Deposit Policy
                       -   Evaluation of the Special Rate Policy for                                 -   Evaluation of the Rupiah Special Rate
         May 16,           Foreign Currency deposits                                                     Deposit Policy
 6.
         2023          -   Application for Non-Subsidized Consumer                                   -   Evaluation of KP Ruko Counter Credit/
                                                                                       December
                           Credit Interest Rates                               13.                       Financing Interest Rates and Promotions
                                                                                       12, 2023
                                                                                                     -   Confirmation and Extension of the Kring
                                                                                                         BTN Super Solusi Interest Rate
                                                                                                     -   Application for BTN Micro KPR Interest Rates



584         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                    2023 Annual Report




Credit or Financing Policy Committee                                   5. Provide suggestions for improvement steps to the Board
                                                                          of Directors with a copy to the Board of Commissioners
The Credit or Financing Policy Committee is a committee                   regarding matters related to responsibility number 1.
that plays a role in formulating policies, supervising policy          6. In the event that there are irregularities in the implementation
implementation, monitoring the development and condition of               of the KPB related to compliance with sharia principles, a
the credit portfolio and providing direction for improvement steps        report is also submitted to the Sharia Supervisory Board.
in the credit sector..
                                                                       MEMBERSHIP STRUCTURE OF THE CREDIT OR FINANCING
WORK GUIDELINES FOR THE CREDIT OR FINANCING POLICY                     POLICY COMMITTEE
COMMITTEE                                                              The structure and membership of the Credit or Financing
The work guidelines for the Credit or Financing Policy Committee       Policy Committee refers to Special Policy No. KK.9-D dated
refer to the Directors' Decree Number 02/SK/DIR/PPBD/2021              March 27, 2023 concerning Governance Procedures for the
with the following contents:                                           Board of Directors Committee, with the following structure and
1. Duties, Functions and Responsibilities of the Committee.            membership:
2. Mechanisms and Procedures for Organizing Committee
                                                                                                               Voting
    Meetings.                                                             Structure             Position                    Information
                                                                                                               Rights
3. Minutes of Meetings and Follow-up to Minutes of Committee
                                                                                           President
    Meetings.                                                           Chairman                                  √      Permanent member
                                                                                           director
                                                                        Directors/
DUTIES AND RESPONSIBILITIES OF THE CREDIT OR FINANCING                                     Vice director *)       √      Permanent member
                                                                        SEVP
POLICY COMMITTEE                                                                           Director in
The duties and responsibilities of the Credit or Financing Policy                          charge of Risk         √      Permanent member
Committee are to assist the President Director with matters relating                       Management**)

to, among other things and at least include:                                               Director in
                                                                                           charge of Asset        √      Permanent member
1. Provide input to the Board of Directors in the context of                               Management
     preparing Bank Credit or Financing Policies (KPB), especially
                                                                                           Director in
     those related to the formulation of prudential principles in                          charge of Credit       √      Permanent member
     credit or financing.                                                                  and Financing
2. Supervise that the KPB can be implemented and implemented                               Director in
                                                                                           charge of Funds        √      Permanent member
     consistently and consistently and formulate solutions if
                                                                                           and Networks
     there are obstacles/obstacles in implementing the KPB.
                                                                                           Director in
     Furthermore, the Credit or Financing Policy Committee also                            charge of
                                                                                                                  √      Permanent member
     conducts periodic reviews of the KPB and provides advice to                           Institutional
                                                                                           Banking
     the Board of Directors if changes/improvements to the KPB
     are necessary.                                                                        Director in
                                                                                           charge of              √      Permanent member
3. Monitor and evaluate:                                                                   Finance
     a. Development and quality of the overall credit or financing                         Director in
         portfolio.                                                                        charge of
     b. Correct implementation of authority to decide on credit                            Human Capital,         X      Permanent member
                                                                                           Compliance and
         or financing.                                                                     Legal
     c. Correctness of the process of granting, development and                            SEVP in charge
         quality of credit or financing provided to parties related                        of Wholesale           √      Permanent member
         to the Company and certain large debtors.                                         Banking

     d. Correct implementation of LLL provisions.                                          Director in
                                                                                           charge of                     Non-Permanent
     e. Compliance with statutory provisions and other regulations                                                √
                                                                                           Information                   Member
         in the implementation of providing credit or financing.                           Technology
     f. Settlement of problem loans in accordance with those                               SEVP in charge                Non-Permanent
                                                                                                                  √
         stipulated in the KPB.                                                            of Operations                 Member
     g. The Company's efforts to meet the adequacy of the                                  SEVP in charge
                                                                                                                         Non-Permanent
         amount of credit or financing write-offs.                                         of Compliance          X
                                                                                                                         Member
                                                                                           and Legal
4. Submit regular written reports to the Board of Directors with
     a copy to the Board of Commissioners regarding:                   *) Substitute Chairman I
                                                                       **) Substitute Chairman II
     a. Results of supervision of the implementation and
         implementation of the KPB.
     b. Monitoring and evaluation results regarding matters
         referred to in the function of the Credit or Financing
         Policy Committee.



                                                                            PT Bank Tabungan Negara (Persero) Tbk                        585
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                                                           Corporate
                                                           Governance




PROFILE OF MEMBERS OF THE CREDIT OR FINANCING POLICY                     No.           Date                         Agenda
COMMITTEE
The profiles of members of the Credit or Financing Policy                       September 19,         Proposed Special Policy on Commercial
                                                                          4.
                                                                                2023                  Credit Rescue and Settlement
Committee, both from the Board of Directors and SEVP of the
Company, can be seen in the Company Profile Chapter in the                                            Review of Special Policy KK.1-G
                                                                          5.    October 16, 2023      concerning Corporate Loan Products
Profile of Directors and Profiles of Officials One Level Below
                                                                                                      and Services
Directors section in this Annual Report.
                                                                                                      Proposed Special Policy regarding
                                                                          6.    October 20, 2023      KMK & KMK Renovation to Accelerate
INDEPENDENCE OF THE COMMITTEE COMMITTEE ON CREDIT
                                                                                                      Settlement of Problematic Credit Assets
OR FINANCING POLICY
All members of the Credit or Financing Policy Committee do not                                        Adjustment of the Construction KMK
                                                                          7.    October 27, 2023
                                                                                                      (KYG) and KPL structure
have financial, management, share ownership and/or family
relationships with the Board of Commissioners, Directors and/                                         Proposed Approval of the Request for
                                                                          8.    November 6, 2023      Passive Credit Recovery and Rescue
or Controlling Shareholders or relationships with the Company,
                                                                                                      Policy
which could affect their ability to act independently.
                                                                                                      Follow-up to OJK Audit Findings
                                                                          9.    December 21, 2023     on 2021 PKPB and Delegation of
TRANSPARENCY OF THE CONCURRENT POSITIONS OF THE
                                                                                                      Authority and Tiger Project
CREDIT OR FINANCING POLICY COMMITTEE
Disclosure of the transparency of concurrent positions of
members of the Credit or Financing Policy Committee from the            Credit Committee
Board of Directors can be seen in the Corporate Governance
Chapter in the concurrent positions section of this Annual              The Credit Committee is a committee that plays a role in providing
Report.                                                                 decisions on granting credit (new credit or credit restructuring)
                                                                        in accordance with the highest authority based on the Credit
TERM OF OFFICE AND PERIOD OF OFFICE OF THE CREDIT OR                    Decision Authority Limit (BMPK).
FINANCING POLICY COMMITTEE
The term of office and term of office of the Credit or Financing        CREDIT COMMITTEE WORK GUIDELINES
Policy Committee, whether from the Board of Directors or SEVP           The Credit Committee work guidelines refer to Special Policy
of the Company, follows the term of office of the Directors and         No. KK.9-D dated March 27, 2023 concerning Governance
Heads of Divisions of the Company who are members of the                Procedures for the Board of Directors Committee and Special
committee.                                                              Policy Number KK.1-Q dated September 29, 2023 concerning
                                                                        the Limit of Authority to Terminate Credit or Commercial Financing
TRAINING AND COMPETENCE DEVELOPMENT OR FINANCING                        with the following contents:
Training for members of the Credit or Financing Policy Committee        − Duties, Functions and Responsibilities of the Credit Committee
from the Board of Directors can be seen in the Training and/or          − Procedures for Organizing the Credit Committee
Competency Improvement Sub-Chapter for Directors Members in             − Credit Committee Structure and Membership
the Corporate Governance Chapter of this Annual Report.                 − Duties of the Secretary and Credit Committee Members
                                                                        − Limits of Authority to Decide Credit
MEETINGS AND IMPLEMENTATION OF DUTIES OF THE CREDIT
OR FINANCING POLICY COMMITTEE IN 2023                                   DUTIES AND RESPONSIBILITIES OF THE CREDIT COMMITTEE
Credit or Financing Policy Committee meetings are held at least         The duties and responsibilities of the Credit Committee are
once every 3 (three) months. During 2023, the Credit Policy             to provide recommendations and decide on the granting of
Committee has held 9 (nine) meetings. The implementation date           credit (new credit or credit restructuring) for the commercial
and meeting agenda are as follows.                                      credit and consumer credit segments in accordance with the
                                                                        highest authority based on the Credit Decision Authority Limit
                                                                        (BWMK).
 No.           Date                        Agenda

                             Proposed Special Policy Regulations        CREDIT COMMITTEE MEMBERSHIP STRUCTURE
  1.    February 14, 2023
                             regarding Employee Soft Credit
                                                                                                   Committee
                                                                         No    Committee Type                             Work unit
                             Proposed Special Policy on Credit                                       Level
  2.    March 7, 2023
                             Document Management
                                                                          1    Committee A             A1          Directors
                             Proposed Approval of Special Policies
  3.    May 30, 2023         on Billing Management and Credit                                          A2
                             Settlement for the Consumer Segment
                                                                                                       A3

                                                                                                       A4




586         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                  2023 Annual Report




                                    Committee                                         Non-Permanent Membership in the Credit Committee at the
  No     Committee Type                                         Work unit
                                      Level                                           Board of Directors level is regulated by the following provisions:

  2,      Committee B                     B            Headquarters
                                                                                       No                Committee Type                         Work unit
  3.      Committee C                    C1            Regional Office
                                                                                                Head/Deputy Head of Commercial
                                                       Commercial           Banking     1.      Credit Work Unit or Official                        X
                                         C2
                                                       Center (CBC)                             Holding RKK Authority
                                                                                                Head of the Corporate Credit
                                                       Branch     Office/Sharia
  4.      Committee D                    D1                                             2.      Work Unit or Official Holding RKK                   X
                                                       Branch Office
                                                                                                Authority
                                         D2                                                     Head of SME Credit Work Unit or
                                                                                        3.                                                          X
                                                                                                Official Holding RKK Authority
                                         D3
                                                                                                Head of Commercial Financing
*If you are a credit proposer then it changes to a business function.
                                                                                        4.      Work Unit or Official Holding RKK                   X
                                                                                                Authority
                                                                                                Head of Asset Management Work
                                                                                        5.      Unit or Official Holding RKK                        X
2. The Credit Committee at the Board of Directors level is
                                                                                                Authority
   divided into 4 (four) levels with a minimum quorum of
                                                                                                Head of Financial Institution Work
   Permanent Members present as follows:                                                6.      Unit or Official Holding RKK                        X
                                                                                                Authority
                         Business                                       Independent
   Committee                                  Risk Function                                     Head/Deputy Head of the
                         Functions                                        Function
                                                                                        7.      Commercial Credit Risk Work Unit                    X
 Committee A1           All Members            All Members          1 person                    or Official Holding RKK Authority

 Committee A2             3 people                3 people          1 person                    Head of Commercial Credit Work
                                                                                        8.      Unit at the Commercial Banking                      X
 Committee A3            2 persons               2 persons          1 person                    Center
 Committee A4             1 person                1 person          1 person                    Head of the Commercial Credit
                                                                                        9.      Risk Work Unit at the Commercial                    X
                                                                                                Banking Center
3. Permanent Membership in the Credit Committee at the Board
                                                                                                Head of Legal Work Unit or Official
   of Directors level is divided into 3 (three) functions and the                      10.                                                          X
                                                                                                Holding RKK Authority
   voting rights attached to each function are as follows:
                                                                                                Head of the Compliance Work Unit
                                                                                       11.                                                          X
             Risk Function                           Business Functions                         or Official Holding RKK Authority
                                                                                                Head of the Internal Audit Work
    Position            Voting Rights            Position          Voting Rights       12.      Unit or Official Holding RKK                        X
                                                                                                Authority
 President
                                √             vice director                 √
 Director
                                              Director
                                                                                      4. Membership in the Credit Committee other than at the Board
 Director in
                                              in charge                                  of Directors level is regulated by provisions according to
 charge of Risk                 √                                           √
                                              of Credit/                                 each level as follows:
 Management
                                              Financing
                                                                                         A. Credit Committee B
 Director in                                  Director in                                    • Permanent member
 charge of Asset                √             charge of                     √
 Management                                   Finance                                             Risk Function                       Business Functions
 Director in
                                              Director in                                    Position      Voting Rights          Position        Voting Rights
 charge of
                                √             charge of                     √
 Information
                                              Network                                                                        Head/Deputy
 Systems
                                                                                                                             Head of
                                              Director in                                                                    Commercial
                                              charge of                                Head/Deputy                √          Credit Work                √
                                                                            √
 SEVP in charge                               Institutional                            Head of the                           Unit or Official
 of Credit                      √             Banking                                  Commercial                            Holding RKK
 Operations                                   SEVP in charge                           Credit Risk                           Authority
                                              of Wholesale                  √          Work Unit
                                                                                       or Official                           Head of the
                                              Banking
                                                                                       Holding RKK                           Corporate
                                                                         Voting        Authority                             Credit Work
                  Independent Function                                                                                                                  √
                                                                         Rights                                              Unit or Official
                                                                                                                             Holding RKK
 Director in charge of Compliance and Legal                        X                                                         Authority


 SEVP in charge of Compliance and Legal                            X




                                                                                             PT Bank Tabungan Negara (Persero) Tbk                          587
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                                                                  Corporate
                                                                  Governance




             Risk Function                  Business Functions                      B. Credit Committee C1
                                                                                        • Permanent member
     Position        Voting Rights      Position         Voting Rights
                                                                                            Risk Function                  Business Functions
                                     Head of SME
                                     Credit Work                                    Position        Voting Rights       Position        Voting Rights
                                     Unit or Official         √
                                     Holding RKK                               Head of
                                     Authority;                                Commercial
                                                                               Credit Risk                           Head of
                                                                                                            √                                  √
                                     Head of the                               Work Unit at                          Regional Office
                                     Commercial                                the Regional
                                     Financing                                 Office
                                                              √
                                     Work Unit or                                                                    Head of
                                     RKK Authority                                                                   the Asset
                                     Holder                                                                          Management
                                                                                                                                               √
                                                                                                                     Work Unit at
                                     Kepala Satuan                                                                   the Regional
                                     Kerja Asset                                                                     Office
                                     Management
                                     atau Pejabat             √
                                     Pemegang                                           •      Non-Permanent Members
                                     Kewenangan
                                     RKK                                       No            Non-Permanent Member                    Voting Rights
                                     Kepala Satuan                              1.     Deputy Head of Regional Office                     X
                                     Kerja Financial
                                     Institution                                       Head of the SME Credit Work Unit
                                                                                2.                                                        X
                                     atau Pejabat             √                        at the Regional Office
                                     Pemegang                                          Head of Commercial Credit Work
                                     Kewenangan                                 3.     Unit at the Commercial Banking                     X
                                     RKK                                               Center
                                                                                       Head of the Commercial Credit
         •      Non-Permanent Members                                           4.     Risk Work Unit at the Commercial                   X
                                                                                       Banking Center
No               Non-Permanent Member                   Voting Rights
                                                                                       Commercial Credit Risk Analyst at
                                                                                5.                                                        X
                                                                                       Regional Office **)
        Head of the Commercial Credit Work Unit
 1                                                           X
        Department                                                              6.     Legal Checklist *)                                 X

        Head of the Corporate Credit Work Unit                                  7.     Compliance Checklist *)                            X
 2                                                           X
        Department

        Head of the SME Credit Work Unit                                            C. Credit Committee C2
 3                                                           X
        Department                                                                      • Permanent member

        Head of the Commercial Financing Work                                               Risk Function                  Business Functions
 4                                                           X
        Unit Department
                                                                                                        Voting                                Voting
                                                                                     Position                             Position
        Head of the Financial Institution Work                                                          Rights                                Rights
 5                                                           X
        Unit Department
                                                                               Head of                               Head of the
        Head of the Asset Management Work                                      Commercial                            Commercial
 6                                                           X                 Credit Work Unit                      Credit Risk
        Unit Department                                                                                     √                                   √
                                                                               at the Commercial                     Work Unit at
        Head of Commercial Credit Work Unit at                                 Banking Center                        the Commercial
 7                                                           X
        the Commercial Banking Center                                                                                Banking Center

        Head of Commercial Credit Risk Work
 8                                                           X
        Unit Department                                                                 •      Non-Permanent Members

        Head of the Commercial Credit Risk Work                                No            Non-Permanent Member                    Voting Rights
 9                                                           X
        Unit at the Commercial Banking Center
                                                                                       Commercial Credit Work Unit
        Head of Legal Work Unit Department or                                  1.      Manager at the Commercial                          X
10                                                           X
        Official Holding Authority                                                     Banking Center
                                                                                       Commercial Credit Risk Work
        Head of Compliance Work Unit
11                                                           X                 2.      Unit Manager at the Commercial                     X
        Department or Official Holding Authority
                                                                                       Banking Center
                                                                               3.      Legal Checklist *)                                 X

                                                                               4.      Compliance Checklist *)                            X




588             PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                   2023 Annual Report




       D. Credit Committee D                                              MEETING AND IMPLEMENTATION OF DUTIES OF THE CREDIT
           • Permanent member                                             COMMITTEE IN 2023
                                                                          Credit Committee Meetings are carried out in the context
               Risk Function                  Business Functions
                                                                          of making commercial credit decisions, whether for new
       Position        Voting Rights       Position       Voting Rights   applications, changes to the credit structure, or credit restructuring.
                                                                          The organization of the Credit Committee is proposed by the
 Head of                               Branch Head                        Proposing Division, in this case the Commercial Credit Business
 SME Credit/                           or Head of
                                                                          Division and the Commercial Credit Risk Division. In 2023, the
 Financing                             Sharia Branch
 Risk Work                     √                                √         Credit Committee will hold 3,047 meetings at various levels, with
 Unit at Branch                                                           the following details.
 Offices/Sharia
 Branch Offices
                                                                             No            RKK level              Number of Executions
           •      Non-Permanent Members

 No             Non-Permanent Member                  Voting Rights           1.      Credit Committee A                    240

          Head of SME Credit Work Unit at                                     2.      Credit Committee B                    166
  1.                                                       X
          Branch Office
                                                                                      C1 Credit
          Head of Commercial Financing                                        3.                                            168
                                                                                      Committee
  2.      Work Unit at the Sharia Branch                   X
          Office                                                                      C2 Credit
                                                                              4.                                            685
                                                                                      Committee
          SME Credit/Financing Risk Analyst
  3.      at Branch Offices/Sharia Branch                  X
                                                                              5.      D Credit Committee                   1.788
          Offices
  4.      Legal Checklist *)                               X

  5.      Compliance Checklist *)                          X              Human Capital Committee

PROFILE OF CREDIT COMMITTEE MEMBERS                                       The Board of Directors has formed a Human Capital Committee in
The profiles of Credit Committee members from both the Board of           order to assist the Board of Commissioners in formulating policies,
Directors and SEVP of the Company can be seen in the Company              overseeing policy implementation, monitoring developments and
Profile Chapter in the Profile of Directors and Profiles of Officials     employment conditions and providing suggestions for corrective
One Level Below Directors section in this Annual Report.                  steps in accordance with the Company's Employment regulations
                                                                          and the Employment Laws applicable in Indonesia.
INDEPENDENCE OF THE CREDIT COMMITTEE
All members of the Credit Committee have no financial,                    HUMAN CAPITAL COMMITTEE WORK GUIDELINES
management, share ownership and/or family relationships                   The work guidelines for the Human Capital Committee refer
with the Board of Commissioners, Directors and/or Controlling             to Special Policy KK.9 – D dated 27 March 2023 concerning
Shareholders or relationships with the Company, which could               Governance Procedures for the Board of Directors Committee.
affect their ability to act independently.
                                                                          DUTIES AND RESPONSIBILITIES OF THE HUMAN CAPITAL
TRANSPARENCY OF MULTIPLE POSITIONS OF THE CREDIT                          COMMITTEE
COMMITTEE                                                                 The duties and responsibilities of the Human Capital Committee
Disclosure of the transparency of multiple positions of members of        are to assist the President Director with matters relating to, among
the Credit Committee from the Board of Directors can be seen in           other things and at least include:
the Corporate Governance Chapter in the dual positions section            1. Recommend strategies, policies and human capital
of this Annual Report.                                                        management systems that are in line with the Bank's
                                                                              Business Plan.
TERM OF OFFICE AND PERIOD OF OFFICE OF THE CREDIT                         2. Has the authority to make decisions regarding the
COMMITTEE                                                                     implementation of management in the personnel sector.0.
The term of office and term of office of the Credit Committee,                Bertanggung jawab atas rekomendasi usulan kebijakan
whether from the Board of Directors or SEVP of the Company,                   yang selanjutnya akan diputus melalui mekanisme Rapat
follows the term of office of the Directors and Heads of Divisions            Direksi.
of the Company who are members of the committee.                          3. Decide on proposed Bank policies, standards and procedures
                                                                              related to human capital.
TRAINING AND COMPETENCY DEVELOPMENT                                       4. Has the authority to make decisions other than points 1 – 4
Training for Credit Committee members from the Board of                       above if given a mandate by the Board of Directors Meeting.
Directors can be seen in the Training and/or Competency                   5. If necessary, coordinate with the Remuneration and
Improvement Sub-chapter for Directors Members in the Corporate                Nomination Committee in reviewing the Human Capital
Governance Chapter of this Annual Report.                                     Management system/policy.



                                                                              PT Bank Tabungan Negara (Persero) Tbk                      589
Page 221
                                                           Corporate
                                                           Governance




6. The Central Human Capital Committee is responsible for               PROFILE OF MEMBERS OF THE HUMAN CAPITAL COMMITTEE
    submitting reports on significant decisions whether they            The profiles of members of the Human Capital Committee, both those
    are decisions of the Central Human Capital Committee or             from the Board of Directors and SEVP of the Company, can be seen
    decisions of the Human Capital Committee of Work Units              in the Company Profile Chapter in the Profile of Directors and Profiles
    at the Head Office/Regional Offices/Branch Offices/Teams            of Officials One Level Below Directors section in this Annual Report.
    made to the Board of Directors Meeting for a minimum of 1
    (one) year. very.                                                   INDEPENDENCE OF THE HUMAN CAPITAL COMMITTEE
7. The Central Human Capital Committee is responsible for               All members of the Human Capital Committee have no financial,
    submitting reports on significant decisions, both decisions of      management, share ownership and/or family relationships
    the Central Human Capital Committee and decisions of the            with the Board of Commissioners, Directors and/or Controlling
    Human Capital Committee of Work Units at the Head Office/           Shareholders or relationships with the Company, which could
    Regional Offices/Branch Offices/Teams made to the Board             affect their ability to act independently.
    of Directors Meeting for a minimum of 1 (one) year.
                                                                        TRANSPARENCY OF THE MULTIPLE POSITIONS OF THE HUMAN
MEMBERSHIP STRUCTURE OF THE HUMAN CAPITAL COMMITTEE                     CAPITAL COMMITTEE
The structure and membership of the Human Capital Committee             Disclosure of transparency of concurrent positions of members of
has been determined based on Special Policy KK.9 – D dated              the Human Capital Committee from the Board of Directors can be
27 March 2023 concerning Governance Procedures for the                  seen in the Corporate Governance Chapter in the dual positions
Board of Directors Committee with the following structure and           section of this Annual Report.
membership:
                                                                        TERM OF OFFICE AND PERIOD OF OFFICE OF THE HUMAN
                                                                        CAPITAL COMMITTEE
                                          Voting
   Structure               Position                Information          The term of office and term of office of the Human Capital
                                          Rights
                                                                        Committee, whether from the Board of Directors or SEVP of the
 Chairman
 (Concurrently                                       Permanent
                                                                        Company, follows the term of office of the Directors and Heads
                     President Director     √
 Permanent                                            member            of Divisions of the Company who are members of the committee.
 Member)

 Directors /                                         Permanent          TRAINING AND COMPETENCY DEVELOPMENT
                     Vice Director *)       √
 SEVP                                                 member            Training for Human Capital Committee members from the Board
                     Director in charge                                 of Directors can be seen in the Training and/or Competency
                     of Human Capital,               Permanent
                                            √                           Improvement Sub-chapter for Directors Members in the Corporate
                     Compliance and                   member
                     Legal                                              Governance Chapter of this Annual Report.
                     Director in charge
                                                     Permanent
                     of Funds and           √
                                                      member
                                                                        MEETINGS AND IMPLEMENTATION OF DUTIES OF THE HUMAN
                     Networks
                                                                        CAPITAL COMMITTEE IN 2023
                     Director in charge              Permanent          The policy of Human Capital Committee meetings is to be
                                            √
                     of Risk Management               member
                                                                        held at least once every 3 (three) months. During 2023, the
                     Director in charge
                                                     Permanent          Human Capital Committee has held 14 (fourteen) meetings. The
                     of Credit and          √
                                                      member            implementation date and meeting agenda are as follows.
                     Financing
                     Director in charge
                                                   Non-Permanent
                     of Institutional       √
                     Banking
                                                     Member               No.         Date                          Agenda

                     Director in                                                                  1.   Series of proposed transfers related to
                                                   Non-Permanent                                       fulfilling the position of Regional Office
                     charge of Asset        √
                                                     Member                                            Head at Regional Office 2
                     Management
                                                                                                  2.   Proposal for Promotion/Transfer of
                     Director in charge
                                                   Non-Permanent                  January 24,          Officials at Branch Offices
                     of Information         √                              1.
                                                     Member                       2023            3.   Definitive Determination of Branch
                     Technology
                                                                                                       Manager
                     Director in charge            Non-Permanent                                  4.   Proposal to Abolish the Status of Layer
                                            √
                     of Finance                      Member                                            1 Officials (Division Heads and Branch
                                                                                                       Managers)
                     SEVP in charge of             Non-Permanent
                                            √                                     February 20,    1.   Proposed determination of BOD-1 Bank
                     Wholesale Banking               Member                2.
                                                                                  2023                 BTN Selected Talent for 2023
                     SEVP in charge of             Non-Permanent                                  1.   Proposed changes to the Management of
                                            X
                     Compliance & Legal              Member                                            the Chair of the Bank BTN Pension Fund
                     SEVP in charge of             Non-Permanent                                       Supervisory Board
                                            √                                                     2.   Proposed Changes in Management
                     Operations                      Member                       March 28,
                                                                           3.                          of Members of the Supervisory Board
                                                                                  2023
Information:                                                                                           of the Bank BTN Employee Welfare
*) Substitute Chairman I                                                                               Foundation.
                                                                                                  3.   Proposed internal talent candidates for
                                                                                                       Bank BTN


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  No.        Date                           Agenda                       INFORMATION TECHNOLOGY STEERING COMMITTEE (KPTI)
                                                                         WORK GUIDELINES
                         1.   Proposed replacement of members
                              of the Bank BTN Pension Fund               The work guidelines for the Information Technology Steering
                              Supervisory Board.                         Committee refer to the Company's internal regulations, namely
         March 29,       2.   Evaluation of the Organizational           Special Policy Number KK.9-D dated March 27, 2023 concerning
   4.
         2023                 Structure of the Sharia Development
                              Strategy Team (TSPS).                      Governance Procedures for the Board of Directors Committee.
                         3.   Proposed promotion/transfer of layer 1
                              and 2 officials.                           DUTIES AND RESPONSIBILITIES OF THE INFORMATION
                         1.   Proposed transfer of officials             TECHNOLOGY STEERING COMMITTEE (KPTI)
                         2.   Proposal for transfer/promotion of
         May 29,                                                         The duties and functions of the Information Technology Steering
   5.                         officials in the context of evaluation,
         2023                                                            Committee are to provide recommendations to the Board of
                         3.   Proposal for assigning officials to
                              affiliated companies.                      Directors which include:
         June 12,        Proposed formation of a Credit Recovery         1. Information Technology Strategic Plan which is in line with
   6.
         2023            and Rescue Taskforce Team                           the strategic plan for the Company's business activities. In
                         Proposed Promotion/Mutation of Branch               providing recommendations, the Information Technology
         July 04, 2023   Managers in the Context of Performance              Steering Committee must pay attention to efficiency,
                         Evaluation
                                                                             effectiveness and the following factors:
                         Submission of Bank BTN Talent                       a. Roadmap to achieve Information Technology (IT) needs
   7.    July 10, 2023
                         Management Update
                                                                                  that support the Company's business strategy. The road
                         1.   Proposed assignment of officers
                                                                                  map consists of the current condition, the condition to be
                              to affiliated companies and other
                              companies                                           achieved (future state), and the steps that will be taken to
   8.    July 31, 2023   2.   Evaluation of Officials (Division Heads)            achieve the condition to be achieved;
                              Eligible for Promotion
                                                                             b. Required resources;
                         3.   Proposed Division of Regional
                              Development Director/SEVP                      c. Benefits that will be obtained when the Information
                                                                                  Technology Strategic Plan is implemented;
                         1.   Usulan Penyesuaian Grade Branch
         August 11,           Manager KC & KCS                               d. Obstacles that may arise in implementing the Information
   9.
         2023            2.   Usulan rangkaian mutasi dalam rangka                Technology Strategic Plan.
                              pemenuhan jabatan
                                                                         2. Decide on proposals for Company policies, standards and
         September       Usulan promosi mutasi dalam rangka                  procedures related to Information Technology.
         05, 2023        pemenuhan jabatan
                                                                         3. Monitoring the prioritization of lT CAPEX and lT OPEX
                         1.   Usulan Promosi Pejabat BOD-1                   for Information Technology development based on the
         October 2,      2.   Usulan Penetapan Definitif Kepala
  10.                                                                        Information Technology Strategic Plan.
         2023                 Divisi
                         3.   Usulan Pemenuhan Kepala Divisi             4. Authority to decide on priorities and reallocation of lT CAPEX, lT
         October 24,                                                         OPEX and lT Plan, taking into account the following aspects:
  11.                    Usulan Pemenuhan Kelapa Divisi
         2023                                                                a. Conformity between the Information Technology
         November        Usulan Rekomposisi dan Penambahan                        development plan and the Information Technology
  12.
         20, 2023        Nominated Talent Bank BTN Tahun 2023                     Strategic Plan; And
         December 20,                                                        b. Conformity between the implementation of Information
  13.                    Usulan Pemenuhan Branch Manager
         2023                                                                     Technology development and the agreed Information
                                                                                  Technology Development Plan (portfolio list).
Information Technology Steering Committee (KPTI)                         5. Evaluation of the effectiveness of Tl costs in achieving planned
                                                                             benefits.
In accordance with OJK Regulation Number 11/POJK.03/2022                 6. Monitoring Information Technology performance and efforts
concerning the Implementation of Information Technology                      to improve Information Technology performance.
by Commercial Banks, Companies are required to have an                   7. Efforts to resolve various problems related to Information
Information Technology Steering Committee. To support this, there            Technology that cannot be resolved by the User Work
needs to be provisions governing the Information Technology                  Unit and the Information Technology Provider Work Unit
Steering Committee. In this regard, the Board of Directors                   effectively, efficiently and on time.
considers it necessary to regulate provisions regarding the              8. Adequacy and allocation of resources owned by the
Information Technology Steering Committee in the form of Special             Company.
Policy Number KK.9-D concerning Governance Procedures for                9. Effectiveness of steps in minimizing risks on the Company's
the Board of Directors Committee.                                            investment in the Information Technology sector so that the
                                                                             Company's investment in Information Technology contributes
                                                                             to achieving the Company's business objectives.
                                                                         10. Strategy and steps to improve matters relating to the
                                                                             implementation of risk management related to Information
                                                                             Technology, Digital and Cyber in the Company.



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                                                              Governance




MEMBERSHIP STRUCTURE OF THE INFORMATION TECHNOLOGY STEERING COMMITTEE (KPTI)
The structure and membership of the Information Technology Steering Committee (KPTI) refers to Directors Regulation No. 5/PD/DIR/
PPBD/2021 regarding Board of Directors Committee Guidelines, with the following structure and membership:


         Structure                                      Position                                 Voting Rights             Information

 Chairman               President director                                                             √          Permanent member

 Directors              Vice director*)                                                                √          Permanent member

                        Director in charge of Information Technology                                   √          Permanent member

                        Director in charge of Risk Management                                          √          Permanent member

                        Director in charge of Finance                                                  √          Permanent member

 Directors/SEVP         Other Directors/SEVPs according to the discussion material                     √          Non-Permanent Member

                        Director in charge of Human Capital, Compliance and Legal                      X          Non-Permanent Member

                        SEVP in charge of Compliance and Legal                                         X          Non-Permanent Member

*Substitute Chair 1




PROFILE OF TECHNOLOGY STEERING COMMITTEE                                    MEETING AND IMPLEMENTATION OF DUTIES OF THE
MEMBERSINFORMATION (KPTI)                                                   INFOMATION TECHNOLOGY STEERING COMMITTEE (KPTI) IN
The profiles of members of the Information Technology Steering              2023
Committee, both from the Board of Directors and SEVP of the                 Information Technology is carried out at least 4 (four) times
Company, can be seen in the Company Profile Chapter in the                  during the current year. If deemed necessary, a meeting of the
Profile of Directors and Profiles of Officials One Level Below              Information Technology Steering Committee can be held at any
Directors section in this Annual Report.                                    time upon written request from the permanent members of the
                                                                            Information Technology Steering Committee. During 2023, the
INDEPENDENCE OF THE TECHNOLOGY STEERING                                     Information Technology Steering Committee has held 4 (four)
COMMITTEEINFORMATION (KPTI)                                                 meetings. The implementation date and meeting agenda are as
All members of the Information Technology Steering Committee                follows.
have no financial, management, share ownership and/or family
relationships with the Board of Commissioners, Directors and/
                                                                              No          Date                         Agenda
or Controlling Shareholders or relationships with the Company,
which could affect their ability to act independently.                                                 -   Review of 2022 IT and RSTI Initiatives
                                                                                                           (Include Sharia).
                                                                             1.      March 08, 2023    -   2023 IT Initiative Update (Includes
TRANSPARENCY OF THE INFORMATION TECHNOLOGY                                                                 Sharia).
STEERING COMMITTEE (KPTI)                                                                              -   IT Key Risk Indicator (KRI) Monitoring.

Disclosure of transparency of concurrent positions of members of                                       -   Review Inisiatif TI dan RSTI 2023
the Information Technology Steering Committee from the Board of                                            (include Sharia).
                                                                                                       -   Assessment Core Banking System &
Directors can be seen in the Corporate Governance Chapter in                                               Branch Delivery System.
the concurrent positions section of this Annual Report.                      2.      May 23, 2023      -   VAssessment Data Center Operation
                                                                                                           & Infrastructure Improvement.
                                                                                                       -   Update IT Security & IT KRI
TERM AND PERIOD OF OFFICE OF THE INFORMATION                                                               Monitoring (lesson learned security
TECHNOLOGY STEERING COMMITTEE (KPTI)                                                                       incident).
The term of office and term of office of the Information Technology                                    -   Review Inisiatif TI dan RSTI 2023.
Steering Committee, whether from the Board of Directors or SEVP              3.      August 31, 2023
                                                                                                       -   Update Strategic Projects.
                                                                                                       -   Update IT Security.
of the Company, follows the term of office of the Directors and
                                                                                                       -   IT Key Risk Indicator (KRI) Monitoring.
Heads of Divisions of the Company who are members of the
                                                                                                       -   2023 Initiative Review.
committee.
                                                                                                       -   2024      Budget      Initiatives  and
                                                                                     November 20,
                                                                             4.                            Proposals.
                                                                                     2023
TRAINING AND COMPETENCY DEVELOPMENT                                                                    -   Update Analytics Data.
                                                                                                       -   IT Key Risk Indicator (KRI) Monitoring.
Training for Information Technology Steering Committee members
from the Board of Directors can be seen in the Training and/or
Competency Improvement Sub-chapter for Directors Members in
the Corporate Governance Chapter of this Annual Report.




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                                                                                             2023 Annual Report




Transformation Steering Committee

The function of the Transformation Steering Committee is to assist the Board of Directors in determining priorities and deciding on
the implementation of Transformation initiatives in accordance with the Company's business strategy in the fields of Human Capital,
Organization & Governance, Risk Management and Compliance (GRC); information Technology, Digital and Network; Commercial
Banking & Business Process, Consumer Banking & Sharia; Partnership & Project Management.


TRANSFORMATION STEERING COMMITTEE WORK GUIDELINES
The work guidelines for the Transformation Steering Committee refer to Decree Number 5/SK/DIR/TPMD/2021 dated April 8 2021.
These guidelines regulate, among other things:
1. Responsibilities of the Transformation Steering Committee.
2. Duties and Functions of the Transformation Steering Committee.
3. Duties of the Chairman, Secretary and Members of the Transformation Steering Committee.
4. Procedures for holding meetings.
5. Meeting Minutes.
6. Follow up on Meeting Minutes.


MEMBERSHIP STRUCTURE OF THE TRANSFORMATION STEERING COMMITTEE


Transformation Steering Committee is linked to the Human Capital Organization & GRC

         Structure                                      Position                          Voting Rights            Description
 Chairman                  Director in charge of Transformation and Risk Management             √          Permanent Member

                           Director in charge of Human Capital, Compliance and Legal            √          Permanent Member

                           Director in charge of Funds and Networks                             √          Permanent Member
 Directors/SEVP
                           SEVP in charge of Compliance and Legal                               x          Permanent Member

                           Other Directors/SEVPs according to the discussion material           √          Non-Permanent Member

If the President Director/Vice President Director attends the Transformation Steering Committee Meeting above, he/she will act as
Chairman and have voting rights.


Komite Pengarah Transformasi terkait dengan IT, Digital & Network

         Structure                                      Position                          Voting Rights            Description
 Chairman                  Director in charge of Transformation and Risk Management             √          (Chairman) Permanent Member

                           Director in charge of Information Technology                         √          Permanent Member

                           Director in charge of Funds and Networks                             √          Permanent Member

 Directors/SEVP            Director in charge of Human Capital, Compliance and Legal            X          Non-Permanent Member

                           SEVP in charge of Compliance and Legal                               X          Non-Permanent Member

                           Other Directors/SEVPs according to the discussion material           √          Non-Permanent Member

If the President Director/Vice President Director attends the Transformation Steering Committee Meeting above, he/she will act as
chairman and have voting rights.


Transformation Steering Committee related to Commercial Banking & Business Process, Consumer Banking & Sharia

         Structure                                      Position                           Voting Rights           Description
 Chairman                  Director in charge of Transformation and Risk Management             √          Permanent Member

                           Director in charge of Loan and Financing                             √          Permanent Member

                           Director in charge of Asset Management                               √          Permanent Member

                           Director in charge of Information Technology                         √          Permanent Member

 Directors/SEVP            SEVP in charge of Wholesale Banking                                  √          Non-Permanent Member

                           Director in charge of Human Capital, Compliance and Legal            X          Non-Permanent Member

                           SEVP in charge of Compliance and Legal                               X          Non-Permanent Member

                           Other Directors/SEVPs according to the discussion material           √          Non-Permanent Member




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                                                                Corporate
                                                                Governance




If the President Director/Vice President Director attends the Transformation Steering Committee Meeting above, he/she will act as
chairman and have voting rights.


Transformation Steering Committee related to Partnership & Project Management

         Structure                                           Position                               Voting Rights               Description
 Chairman                    Director in charge of Transformation and Risk Management                        √         Permanent Member

                             Director in charge of Finance                                                   √         Permanent Member

                             Director in charge of Human Capital, Compliance and Legal                       X         Permanent Member
 Directors/SEVP
                             SEVP in charge of Compliance and Legal                                          X         Non-Permanent Member

                             Other Directors/SEVPs according to the discussion material                      √         Non-Permanent Member



DUTIES AND RESPONSIBILITIES OF THE TRANSFORMATION                            TERM AND PERIOD OF OFFICE OF THE TRANSFORMATION
STEERING COMMITTEE                                                           STEERING COMMITTEE
The duties and responsibilities of the Transformation Steering               The term of office and term of office of the Transformation Steering
Committee are to provide recommendations to the President                    Committee, both from the Board of Directors and SEVP of the
Director on matters relating to, among others:                               Company, follows the terms of office of the Directors and Heads
1. Determine priorities and decide on the implementation of                  of Divisions of the Company who are members of the committee.
    Transformation Initiatives in accordance with the Bank's
    Business Strategy, in the areas of:                                      TRAINING AND COMPETENCY DEVELOPMENT
    a. Human Capital, Organization and Governance, Risk                      Training for Transformation Steering Committee members from
        Management and Compliance (GRC).                                     the Board of Directors can be seen in the Training and/or
    b. Information Technology (IT), Digital and Network.                     Competency Improvement Sub-chapter for Directors Members in
    c. Commercial Banking and Business Process, Consumer                     the Corporate Governance Chapter of this Annual Report.
        Banking and Sharia.
    d. Partnership and Project Management.                                   MEETINGS AND IMPLEMENTATION OF TASKS OF THE
2. Decide on policies related to the implementation of the                   TRANSFORMATION STEERING COMMITTEE IN 2023
    Transformation Initiative Pilot Project.                                 In accordance with Decree Number 5/SK/DIR/TPMD/2021,
3. Propose policies related to the Transformation Initiative to be           the Transformation Steering Committee meetings are held at
    decided at the Board of Directors Meeting if necessary.                  least 2 (two) times during the current year. During 2023, the
4. Monitor the implementation of the Transformation Initiative which         Transformation Steering Committee has held 26 (twenty-six)
    has been decided by the Transformation Steering Committee,               meetings. The meeting date and agenda are as follows.
    and report to the Board of Directors as a basis for considering
    decisions on follow-up to the Transformation Initiative.
                                                                               No.               Date                          Agenda

PROFILE OF TRANSFORMATION STEERING COMMITTEE MEMBERS                                                             Steering Committee Project Sign Off
                                                                                1.        January 05, 2023
                                                                                                                 Branch Transformation
The profiles of the members of the Transformation Steering
Committee, both those from the Board of Directors and SEVP of                                                    Steering Committee Update
the Company, can be seen in the Company Profile Chapter in                                                       Corporate Plan Initiative -
                                                                                2.        January 11, 2023
                                                                                                                 Improvement of Credit Document
the Profile of Directors and Profiles of Officials One Level Below                                               Governance
Directors section in this Annual Report.
                                                                                                                 Steering Committee Decision Engine
                                                                                3.        January 17, 2023
                                                                                                                 Consumer
INDEPENDENCE OF THE TRANSFORMATION STEERING
                                                                                                                 Steering Committee, MSME Process
COMMITTEE                                                                       4.        February 10, 2023
                                                                                                                 Center
All members of the Transformation Steering Committee have
no financial, management, share ownership and/or family                                                          Steering Committee Update on
                                                                                5.        February 15, 2023      Corplan Initiative - Improvement of
relationships with the Board of Commissioners, Directors and/                                                    Credit Document Governance
or Controlling Shareholders or relationships with the Company,
                                                                                                                 Steering Committee Presentation of
which could affect their ability to act independently.                          6.        February 23, 2023      Venture Fund Collaboration Plan by
                                                                                                                 PT Mandiri Capital Indonesia
TRANSPARENCY OF THE CONVERSE POSITIONS OF THE
                                                                                                                 Steering Committee Appointment
TRANSFORMATION STEERING COMMITTEE                                               7.        April 12, 2023         of Financial Literacy and Inclusion
Disclosure of transparency of multiple positions of members of the                                               Management Unit
Transformation Steering Committee from the Board of Directors                                                    Steering Committee Single
can be seen in the Corporate Governance Chapter in the dual                     8         April 26, 2023         Relationship Corporate Segment
positions section of this Annual Report.                                                                         Model




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                                                                                                     2023 Annual Report




  No.           Date                        Agenda                     DUTIES AND RESPONSIBILITIES OF THE BUSINESS COMMITTEE
                                                                       1. The Business Committee is responsible for decisions made
                              Steering Committee Discussion of
   9.    May 22, 2023                                                     at Business Committee Meetings and Board of Directors
                              SME Collection
                                                                          Meetings.
                              Steering Committee Proposed              2. The Business Committee is responsible for submitting reports
  10.    May 25, 2023         Organizational Structure for CRSD 1,
                              CRSD 2 and CAMD                             on Significant Decisions made to the Board of Directors
                                                                          Meeting at least once a year.
  11.    June 16, 2023        Steering Committee Project Ultimate      3. Determine corrective steps regarding matters related to Bank
                              Steering Committee Project Ultimate         Product development and report to the Board of Directors.
  12.    June 21, 2023
                              (Wholesale Transaction Banking)

                              Steering Committee Progress Update
                                                                       BUSINESS MEMBERSHIP STRUCTURE
  13.    July 13, 2023
                              Preparation for Pilot Project Ultimate   Based on the agreement, the Business Committee membership is
                                                                       occupied by several positions with the following details:
                              Steering Committee Single
  14.    July 14, 2023        Relationship Corporate Segment
                                                                                  Membership                                  Voting
                              Model                                      No                                Posititon                       Information
                                                                                   Structure                                  Rights
                              Steering Committee Decision Engine
  15.    August 1, 2023                                                          Chairman              vice director              √          (Chairman)
                              Consumer
                                                                                 (concurrently                                                Permanent
                                                                          1.
  16.    August 1, 2023       LOS Integration Steering Committee                 permanent                                                     Member
                                                                                 member)

  17.    August 8, 2023       SBU Project Steering Committee                                           Director in
                                                                                                                                             Permanent
                                                                                                       charge of Funds            √
                                                                                                                                              member
  18.    August 10, 2023      SBU Project Steering Committee                     Directors/SEVP        and Networks*
                                                                          2.     Permanent
                              Steering Committee Ultimate Project -              Members               Director in
  19.    August 30, 2023                                                                                                                     Permanent
                              Pilot Results Report                                                     charge of Credit           √
                                                                                                                                              member
                                                                                                       and Financing
                              Steering Committee Bank BTN
         September 19,
  20.                         Investment Implementation Plan in                                        Director in
         2023                                                                                                                                Permanent
                              Venture Funds                                                            charge of Risk             √
                                                                                                                                              member
                                                                                                       Management
         September 27,        Steering Committee Progress Pilot
  21.
         2023                 Project Ultimate September 2023                                          Director in
                                                                                                       charge of                             Permanent
                              Steering Committee Discussion on                                                                    √
  22.    October 10, 2023                                                                              Information                            member
                              Institutional DPK Management
                                                                                                       Technology
                              Steering Committee Update Pilot and
  23.    October 30, 2023     Scale Up Ultimate Project October                                        Director in
                              2023                                                                     charge of                             Permanent
                                                                                                                                  √
                                                                                                       Institutional                          member
  24.    December 7, 2023     BPI KRING Steering Committee                                             Banking

                              Steering Committee Single RM                                             Director in
  25.    December 11, 2023
                              Corporate and Large Commercial                                           charge of
                                                                                                                                             Permanent
                                                                                                       Human Capital,             X
                              Steering Committee Project Strategic                                                                            member
  26.    December 14, 2023                                                                             Compliance
                              Business Unit                                                            and Legal

                                                                                                       SEVP in charge
                                                                                                                                             Permanent
                                                                                                       of Wholesale               √
Business Committee                                                                                                                            member
                                                                                                       Banking

The Business Committee is a Company Committee which plays                                              SEVP in charge                        Permanent
                                                                                                                                  √
                                                                                                       of Operations                          member
a role in formulating, deciding, supervising, monitoring and
evaluating the implementation of business policies and strategies                                      Director in                              Non-
related to products and activities that will be and have been                                          charge of                  √          Permanent
                                                                                                       Finance                                Member
launched by the Company to monitor developments and provide
suggestions for improvement steps related to the Company's                                             Director in                              Non-
                                                                                                       charge of Asset            √          Permanent
business.
                                                                                                       Management                             Member

BUSINESS COMMITTEE WORK GUIDELINES                                                                     SEVP in charge                           Non-
                                                                                                       of Compliance              X          Permanent
Business Committee work guidelines refer to Directors' Decree
                                                                                                       and Legal                              Member
No. 03/SK/DIR/PPBD/2021 dated 08 April 2021 concerning
                                                                       a. If the President Director attends a Business Committee meeting, he acts as chairman.
Guidelines for the Implementation of the Business Committee.
                                                                       b. A Business Committee meeting is declared to have a quorum if it is attended by a
                                                                          maximum of more than ½ (one-half) of the number of Permanent Members.
                                                                       c. *Alternate Chairman I




                                                                            PT Bank Tabungan Negara (Persero) Tbk                                    595
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                                                              Corporate
                                                              Governance




PROFILE OF BUSINESS COMMITTEE MEMBERS                                        No.            Date                        Agenda
The profiles of Business Committee members from both the
                                                                                                          Business Committee related to
Board of Directors and SEVP of the Company can be seen in the                 4.    August 3 2023
                                                                                                          Advanced KPR
Company Profile Chapter in the Profile of Directors and Profiles of
                                                                                                          Business Committee related to the
Officials One Level Below Directors section in this Annual Report.            5.    August 28, 2023
                                                                                                          IFG Life Partnership
                                                                                                          Business Committee related to KRING
INDEPENDENCE OF THE BUSINESS COMMITTEE                                        6.    September 5, 2023
                                                                                                          Ultimate (Ultimate Project)
All members of the Business Committee have no financial,                                                  Business Committee related to
management, share ownership and/or family relationships                       7.    October 17, 2023      Employee Multipurpose Financing
with the Board of Commissioners, Directors and/or Controlling                                             (Soft Financing).

Shareholders or relationships with the Company, which could                                               Business Committee related to
                                                                              8.    December 15, 2023
                                                                                                          Bukopin Syariah Asset Buy
affect their ability to act independently.
                                                                                                          Business Committee related to
                                                                              9.
                                                                                                          Kopnuspos Channeling
TRANSPARENCY OF MULTIPLE POSITIONS OF THE BUSINESS
COMMITTEE
Disclosure of transparency of concurrent positions of members              Environmental, Social and Governance Committee
of the Business Committee from the Board of Directors can be
seen in the Corporate Governance Chapter in the dual positions             The Environmental, Social and Governance (ESG) Committee,
section of this Annual Report.                                             which was formed to achieve the Sustainable Development Goals
                                                                           and Climate targets, plays a role in providing recommendations to
TERM OF OFFICE AND PERIOD OF OFFICE OF THE BUSINESS                        the President Director to formulate policies, strategies and targets
COMMITTEE                                                                  that have an impact on the environment, social and governance
The term of office and term of office of the Business Committee,           as well as facilities for monitoring and making decisions.
whether from the Board of Directors or SEVP of the Company,                decisions related to the implementation of the Company's ESG.
follows the term of office of the Directors and Heads of Divisions
of the Company who are members of the committee.                           ENVIRONMENTAL, SOCIAL AND GOVERNANCE COMMITTEE
                                                                           WORK GUIDELINES
TRAINING AND COMPETENCY DEVELOPMENT                                        The Environmental, Social and Governance (ESG) Committee
Training for Business Committee members from the Board of                  work guidelines refer to Special Policy No. KK.9-D dated March
Directors can be seen in the Training and/or Competency                    27 2023 concerning Procedures for Governance of the Board of
Improvement Sub-chapter for Directors Members in the Corporate             Directors Committee
Governance Chapter of this Annual Report.
                                                                           DUTIES AND RESPONSIBILITIES OF THE ENVIRONMENTAL,
IMPLEMENTATION OF TASKS OF THE BUSINESS COMMITTEE IN                       SOCIAL AND GOVERNANCE COMMITTEE
2023                                                                       The task of the Environmental, Social and Governance (ESG)
In accordance with the Minutes of Directors' Meeting No. 65                Committee is to evaluate and provide recommendations to the
March 15 2021 Business Committee Meetings are held at least                President Director regarding ESG, including:
1 (one) time in 3 (three) months. During 2023, the Business                1. Decisions on the Bank's strategy that has an impact on the
Committee has held meetings several times. The dates and                       environment, social and governance in the ESG program
agenda for the Business Committee Meetings held are as follows:                and roadmap.
                                                                           2. Monitoring the implementation of the Bank's ESG strategy
                                                                               and roadmap.
  No.           Date                         Agenda
                                                                           3. Provide information to Bank management regarding ESG-
   1.    April 4, 2023
                               Business Committee related to KRING             related issues including legislation, government programs,
                               Residential Creation
                                                                               international developments, future business trends and
                               Business Committee related to Electric          climate change.
   2.
                               Vehicle Financing
                                                                           4. Monitor, evaluate and provide recommendations on the
                               Business Committee related to the
                                                                               results of ESG reports, concerned investors or other third
   3.                          Imposition of Charges for Returning
                               Basic Documents                                 parties regarding ESG implementation.




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MEMBERSHIP STRUCTURE OF THE ENVIRONMENTAL, SOCIAL AND GOVERNANCE COMMITTEE
The Environmental, Social and Governance (ESG) Committee has the following structure:


   Membership Structure                                   Position                                Voting Rights            Information

 Chairman                    President director                                                         √         (Chairman) Permanent Member
                             Vice Director *                                                            √         Permanent member
                             Director in charge of Risk Management **)                                  √         Permanent member
 Directors                   Director of Finance                                                        √         Permanent member
                             Director in charge of Asset Management                                     √         Permanent member
                             Director of Human Capital, Compliance & Legal                              X         Permanent member
                             SEVP Wholesale Banking                                                     √         Permanent member
 Directors/SEVP              Directors/SEVPs according to the discussion material                       √         Non-Permanent Member
                             SEVP in charge of Compliance and Legal                                     X         Non-Permanent Member

*) Substitute Chairman I
**) Substitute Chairman II




PROFILE OF ENVIRONMENTAL, SOCIAL AND GOVERNANCE                              IMPLEMENTATION OF THE DUTIES OF THE ENVIRONMENTAL,
COMMITTEE MEMBERS                                                            SOCIAL AND GOVERNANCE COMMITTEE IN 2023
The profiles of members of the Environmental, Social and                     During 2023, the ESG Committee has prepared an ESG
Governance (ESG) Committee, both those from the Board of                     Framework, Strategy, Roadmap and Quickwins.
Directors and SEVP of the Company, can be seen in the Company
Profile Chapter in the Profile of Directors and Profiles of Officers         Implementation of Governance in Providing
One Level Below Directors section in this Annual Report.                     Remuneration for Commercial Banks

INDEPENDENCE OF THE ENVIRONMENTAL, SOCIAL AND                                Remuneration and Nomination Committee
GOVERNANCE COMMITTEE
All members of the Environmental, Social and Governance (ESG)                Regarding the remuneration aspect, the Remuneration and
Committee have no financial, management, share ownership                     Nomination Committee has the duty and responsibility to evaluate
and/or family relationships with the Board of Commissioners,                 remuneration policies based on performance, risk, fairness with peer
Directors and/or Controlling Shareholders or relationships with              groups, targets and long-term strategies of the Company, fulfillment
the Company, which could affect their ability to act independently.          of reserves as regulated in statutory regulations and income potential


TRANSPARENCY OF MULTIPLE POSITIONS OF THE COMMITTEE                          Company in the future. The description regarding the names
ENVIRONMENTAL, SOCIAL AND GOVERNANCE                                         of members, composition, duties and responsibilities as well as
Disclosure of transparency of multiple positions of members of the           the number of Committee meetings has been presented in the
Environmental, Social and Governance (ESG) Committee from                    Remuneration and Nomination Committee Sub-Chapter in the
the Board of Directors can be seen in the Corporate Governance               Corporate Governance Chapter of this Annual Report.
Chapter in the dual positions section of this Annual Report.
                                                                             Based on a copy of the OJK Regulation No.34/POJK.04/2014
TERM OF OFFICE AND PERIOD OF OFFICE OF THE COMMITTEE                         concerning the Nomination and Remuneration Committee of
ENVIRONMENTAL, SOCIAL AND GOVERNANCE                                         Issuers or Public Companies Article 10 paragraphs 2 and 3, the
The term of office and period of office of the Environmental,                Company provides a 2023 remuneration package to members
Social and Governance (ESG) Committee, whether from the                      of the Remuneration and Nomination Committee other than
Board of Directors or SEVP of the Company, follows the term of               members of the Board of Commissioners and an executive officer
office of the Directors and Heads of Divisions of the Company                (ex officio) in the following table:
who are members of the committee.
                                                                                                                     Amount of Remuneration
                                                                               Remuneration and Nomination                  Received
TRAINING AND COMPETENCY DEVELOPMENT                                                    Committee                    (Honorarium, THR and PPh
Training for Environmental, Social and Governance (ESG) Committee                                                        21 allowance)
members from the Board of Directors can be seen in the Training and/          Moch. Amin Nurdin                            1,063,313,528
or Competency Improvement Sub-chapter for Directors Members in
                                                                              Total                                        1,063,313,528
the Corporate Governance Chapter of this Annual Report.




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                                                          Corporate
                                                          Governance




Remuneration Policy Preparation Process                                   The policy in the Company's Performance Management
                                                                          System regulates performance target assessments which
In providing remuneration, in 2023 new provisions have been               include work targets including company work targets (SKP),
issued which improve the previous provisions, namely the                  unit work targets (SKU) and individual work targets (SKI).
issuance of Special Policy (KK) No.3-B dated October 31, 2023             Assessment of work targets is carried out by comparing the
concerning Remuneration. Management of Human Resources                    realization of work target achievements with the respective
or Human Capital is one of the most important priorities in               work targets. The Company's Performance Management
running the Company. Employee remuneration is a salary and                System Policy also regulates the assessment of corporate
compensation system implemented by the Company to reward                  cultural competence and leadership competence for
employees based on a number of factors.                                   subordinate employees.
                                                                       3. The method used by the Company to state that the agreed
The scope of the remuneration system includes governance                  performance cannot be achieved so that adjustments to
in providing remuneration, compensation, benefits, benefit                remuneration and the amount of remuneration adjustments
compensation based on statutory regulations and awards. The               need to be made if such conditions occur.
application of governance in providing remuneration aims to
encourage prudential banking, namely that risk taking in carrying          The company carries out a method of adjusting remuneration
out business activities is carried out in a measurable manner              related to performance achievement through a policy of
and refers to statutory provisions regarding risk management so            increasing the basic salary every year, determined by the
that excessive risk taking by decision makers can be avoided               value of the previous year's Performance Management
and business continuity and the health of the Company can be               System and Comparatio. In this case, Comparatio can be
maintained.                                                                interpreted as a percentage value calculated based on the
The remuneration policy prepared must at least consider:                   position of the Permanent Employee's basic salary towards
a. Creating effective risk management                                      the midpoint in the Basic Salary range of the position held
b. Company's financial stability                                           by the Permanent Employee in question. In order to retain
c. Adequacy and strengthening of the Company's capital                     quality employees, the Company provides Production
d. Short-term and long-term liquidity needs                                Services as a form of remuneration which is directly linked
e. Future income potential.                                                to employee performance assessments which are reflected in
                                                                           the Performance Management System (SMK).
Remuneration Policy Coverage and Implementation
per Business Unit, Per Region and in Subsidiary                        Remuneration Adjustments Linked to Performance
Companies or Branch Offices Located Abroad                             and Risk

The Company's remuneration policy has taken into consideration         The company can postpone the payment of deferred variable
the geographical areas of the Head Office, Regional Offices            remuneration (Malus) or withdraw variable remuneration that has
and Branch Offices concerned. The Company has a policy of              been paid (Clawback) to officials who are classified as Material
providing regional allowances for certain areas in accordance          Risk Takers (MRT), by considering several factors, including:
with the Board of Directors' decision as stipulated in KK 3-B 2023     1. The amount of loss or damage to the Company's reputation.
concerning Remuneration and implemented as stipulated.                 2. Involvement of the employee concerned directly or indirectly
                                                                           regarding the actions or transactions carried out.
Remuneration is Linked to Risk
                                                                       Parties who become Material Risk Takers at least meet the
In determining the risks associated with variable remuneration,        following criteria:
the Company pays attention to the risks that are most influential      1. Directors and/or other employees who, due to their duties
in business activities as the main risks referring to regulatory            and responsibilities, make decisions that have a significant
provisions governing the implementation of risk management for              impact on the Company's risk profile or;
commercial banks. Remuneration that is linked to performance           2. Directors, Board of Commissioners and/or employees who
and risk includes bonuses or other equivalent forms.                        receive variable remuneration with a large value.


Performance Measurement Linked to Remuneration                         The period for deferring variable remuneration to Material
                                                                       Risk Takers (MRT) is at least 3 (three) years, with the deferred
1. Remuneration Policy is linked to performance assessment             percentage set at 10% to 30% of the variable remuneration
   The Company has a policy regarding the Performance                  received where the determination of the deferred percentage is
   Management System which stipulates that salary increases            determined by the Board of Directors.
   based on pay for performance are regulated in separate
   provisions regarding the Basic Salary Policy.                       The implementation of Malus will be imposed on Officials who
2. Method that links individual remuneration with company              are classified as Material Risk Takers with the following conditions
   performance, work unit performance and individual performance       and/or criteria:



598         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                    2023 Annual Report




1. Causing significant damage to the Company's reputation or                            8. Intentionally disclose the Company's confidential information
   having a negative impact on the Company's finances and the                              to external parties.
   Company's business opportunities.                                                    9. Carrying out actions that could cause employees to be
2. Causing significant financial losses to the Company.                                    terminated from the Company.
3. Committing fraud, unethical behavior, and/or falsifying
   records.                                                                             Name of External Consultant and Consultant Duties
4. Causing material risks or providing false financial statements.                      Related to Remuneration Policy
5. Deliberately violating the Company's regulatory policies and
   procedures.                                                                          Bank BTN collaborates with Willis Towers Watson who is
6. Causing significant losses to related work units due to not                          tasked with carrying out benchmarking and/or Salary Surveys
   implementing good risk management.                                                   in accordance with company requests regarding remuneration
7. Causing a significant negative impact on the Company's                               policies.
   capital that is not caused by changes in the economic or
   industrial climate.



Remuneration and Facilities Packages Received by the Board of Directors and Board of Commissioners

The remuneration and facilities received by the Board of Directors and Board of Commissioners in 1 (one) year include the remuneration
structure and details of nominal amounts, as in the table below

                                                                       board of Commissioners                                            Directors
            Types of Remuneration and
                  Other Facilities
                                                                    People                       Million Rp.                 People                  Million Rp.
 Remuneration
 Honorarium/Salary                                                     9                15.728                                   112)          37.939
 Routine allowance (Tj. PPh21)                                         9                8.690                                    112)          24.331
 Holiday allowance                                                     9                1.373                                    10            3.219
 Tantiem                                                               81)              33.978                                   93)           85.896
 Total Remuneration (a)                                                 -               59.769                                     -           151.385


 Post-Service Insurance                                                9                4.614                                    112)          10.144
 Housing Benefit                                                        -               -                                          3           509
 Transportation Allowance                                              9                3.049                                    11            1.477
 Communications Allowance                                               -               -                                        11            154
 Total Other Facilities (b)                                             -               7.663                                      -           12.284
 Total Received (a) + (b)                                               -               67.432                                     -           163.669

Information:
1) 1 (one) member of the Board of Commissioners has no longer served since August 12 2023 due to death
2) 1 (one) member of the Board of Directors will no longer serve after the Annual GMS on March 16 2023
3) 2 (two) members of the Board of Directors were appointed as of the Annual GMS on March 16 2023



Remuneration for the Board of Commissioners and Directors in one year is grouped into the following income level ranges:

                                                        Number of Board of Commissioners                                           Number of Directors
       Amount of Remuneration
                                                          2023                              2022                            2023                       2022

 Above IDR 2 billion                                       103)                             101)                            114)                         9

 Above IDR 1 billion - IDR 2 billion                         -                               -                               -                           12)

 Above IDR 500 million - IDR 1 billion                      15)                              -                               -                            -

 IDR 500 million and below                                   -                               -                               -                            -
Information :
1) Including 1 (one) member of the Board of Commissioners who will no longer serve after the Annual GMS on 02 March 2022.
2) Number of members of the Board of Directors who no longer serve after the Annual GMS on March 10 2021.
3) Including 1 (one) member of the Board of Commissioners who no longer holds office. October 14, 2022.
4) Including 1 (one) member of the Board of Directors who will no longer serve after the Annual GMS on March 16 2023.
5) The number of members of the Board of Commissioners who will no longer serve after the Annual GMS on 02 March 2022




                                                                                              PT Bank Tabungan Negara (Persero) Tbk                            599
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                                                                          Governance




Variable Remuneration

Based on Directors Circular No. 57/DIR/HCD/2016 concerning the Implementation of Governance in Providing Remuneration, there
are components of remuneration for the Board of Commissioners and Directors that are variable, namely non-fixed remuneration given
in the form of cash and shares or share-based instruments issued by Bank BTN.


Number of Directors, Board of Commissioners and Employees Receiving Variable Remuneration for 1 (One) Year

Number of Directors, Board of Commissioners and Employees who receive Variable Remuneration for 1 (one) year and the total nominal
amount.


                                                                            Amount received

                            Directors                                   board of Commissioners                                            Officer2)

              People                     Million Rp.                  People                  Million Rp.                     People                    Million Rp.

   2023              2022             2023       2022        2023           2022          2023           2022          2023           2022          2023           2022

        92)              101)         85.896    65.937         103)            7          38.204        24.782         11.858        11.355        609.329       565.140

Information :
1) 1 (one) member of the Board of Directors will no longer serve after the Annual GMS on March 10 2021.
2) 1 (one) member of the Board of Directors will no longer serve after the Annual GMS on March 16 2023.
3) 1 (one) member of the Board of Commissioners no longer holds office. 14 October 2022 and 1 (one) member of the Board of Commissioners will no longer serve after the Annual
    GMS on 02 March 2022.
4) Consists of employees who receive Production Services / Bonuses




Position and Number of Parties Who Are Material                                           Shares Options held by Directors, Board of
Risk Takers                                                                               Commissioners and Executive Officers

In determining employees identified as MRT, the Bank takes a                              The Company has a share ownership program by management
qualitative approach. Positions classified as MRT are as follows:                         or the Management Stock Option Program (MSOP) and by
1. President Director and all members of the Board of Directors                           employees or the Employee Stock Option Program (ESOP) as part
    for implementation from year 1 to year 3.                                             of appreciation for management and all employees. The policy
2. Main Director, all members of the Board of Directors, Heads of                         of granting share options at the Extraordinary General Meeting
    Business Divisions, Heads of Regional offices, and Heads of                           of Shareholders (EGMS) held on 6 October 2009 approved the
    Branches for implementation in the 4th year and thereafter.                           issuance of new shares in the Company's savings.
3. The Board of Directors determines the position of head of
    the Business Division classified as MRT when the policy is                            a maximum of 30% or a maximum of 2,723,142,857 shares of
    implemented                                                                           the total shares that have been issued and fully paid up after the
                                                                                          issuance of new shares so that the ownership of the Republic of
                                                   Number of Parties that
 No.                       Position                                                       Indonesia becomes at least 70% or 6,354,000,000 shares of all
                                                      Become MRT
                                                                                          shares that have been issued and fully paid up after issuance of
   1.         President director                               1                          new shares.

   2.         Vice Director                                    1
                                                                                          The issuance of new shares in the savings in question is offered
                                                                                          to the public through an Initial Public Offering (IPO) which
   3.         Director                                         7                          includes the allotment of shares to Management and Employees
                                                                                          or Management and Employee Stock Allocation (MESA) as well
   4.         The main commissioner                            1                          as the granting of option rights to Management and Employees
                                                                                          or Management and Employee Stock Options Plan (MESOP).
   5.         Deputy Chief Commissioner                        1                          Disclosure of Shares Option Stages 1, 2, 3 Directors,
                                                                                          Commissioners and Executive Officers of the Bank as of 31
              Member of the Board of
   6.                                                          6                          December 2023
              Commissioners




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                                                                                            2023 Annual Report




MESOP Level 1
                                                                        Number of Options
                                        Number of Shares
                                                                                                              Option Price
 No                Name and Positions       Owned                                         Which Has                              Time period
                                                                                                                 (Rp.)
                                           (Shares)            Provided (Shares)         Been Executed
                                                                                            (Shares)
Board of Commissioners

 1.       Chandra Martha Hamzah         -                      -                     -                       -                   -

 2.       Iqbal Latanro                 -                      -                     -                       -                   -

 3.       Ahdi Jumhari Luddin           -                      -                     -                       -                   -

 4.       Andin Hadiyanto               -                      -                     -                       -                   -

 5.       Armand B. Arief               -                      -                     -                       -                   -

 6.       Herry Trisaputra Zuna         -                      -                     -                       -                   -

 7.       Himawan Arief S.              -                      -                     -                       -                   -

 8.       Sentot A. Sentausa            -                      -                     -                       -                   -
Directors

 1.       Haru Koesmahargyo             -                      -                     -                       -                   -

 2.       Nixon L. Pahotan Napitupulu   -                      -                     -                       -                   -

 3.       Andi Nirwoto                  -                      -                     -                       -                   -

 4.       Jasmin                        -                      -                     -                       -                   -

 5.       Setiyo Wibowo                 -                      -                     -                       -                   -

                                                                                                                                 Feb 2011-
 6.       Elisabeth Novie Riswanti      -                      76.500                76.500                  855
                                                                                                                                 Ags 2014

                                                                                                                                 Feb 2011-
 7.       Hirwandi Gafar                -                      58.000                58.000                  855
                                                                                                                                 Ags 2014

                                                                                                                                 Feb 2011-
 8.       Nofry Rony Poetra             -                      77.000                77.000                  855
                                                                                                                                 Ags 2014

                                                                                                                                 Feb 2011-
 9.       Eko Waluyo                    -                      51.000                51.000                  855
                                                                                                                                 Ags 2014
                                                                                                                                 Feb 2011-
Executive Office                        7.430.600              6.925.500             6.925.500               855
                                                                                                                                 Ags 2014
                                                                                                                                 Feb 2011-
Officer                                 -                      136.751.500           136.751.500             855
                                                                                                                                 Ags 2014


MESOP Level 2
                                                                    Number of Options
                                              Number of
                                                                                                             Option Price
 No                 Name and Position       Shares Owned                           Which Has Been                                Time period
                                                                                                                (Rp.)
                                               (Shares)    Provided (Shares)         Executed
                                                                                      (Shares)
Board of Commissioners

 1.       Chandra Martha Hamzah         -                  -                   -                         -                   -

 2.       Iqbal Latanro                 -                  -                   -                         -                   -

 3.       Ahdi Jumhari Luddin           -                  -                   -                         -                   -

 4.       Andin Hadiyanto               -                  -                   -                         -                   -

 5.       Armand B. Arief               -                  -                   -                         -                   -

 6.       Herry Trisaputra Zuna         -                  -                   -                         -                   -

 7.       Himawan Arief S.              -                  -                   -                         -                   -

 8.       Sentot A. Sentausa            -                  -                   -                         -                   -




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                                                      Corporate
                                                      Governance




                                                                        Number of Options
                                                Number of
                                                                                                          Option Price
 No                 Name and Position         Shares Owned                           Which Has Been                          Time period
                                                                                                             (Rp.)
                                                 (Shares)    Provided (Shares)         Executed
                                                                                        (Shares)
Directors
 1.       Haru Koesmahargyo               -                  -                   -                    -                  -
 2.       Nixon L. Pahotan Napitupulu     -                  -                   -                    -                  -
 3.       Andi Nirwoto                    -                  -                   -                    -                  -
 4.       Jasmin                          -                  -                   -                    -                  -
 5.       Setiyo Wibowo                   -                  -                   -                    -                  -
                                                                                                                         Feb 2012-
 6.       Elisabeth Novie Riswanti        -                            55.000              55.000          1.297,44
                                                                                                                         Ags 2015
                                                                                                                         Feb 2012-
 7.       Hirwandi Gafar                  -                            43.000              43.000          1.297,44
                                                                                                                         Ags 2015
                                                                                                                         Feb 2012-
 8.       Nofry Rony Poetra               -                            59.500              59.500          1.297,44
                                                                                                                         Ags 2015
                                                                                                                         Feb 2012-
 9.       Eko Waluyo                      -                            41.000              41.000          1.297,44
                                                                                                                         Ags 2015
                                                                                                                         Feb 2012-
Executive Office                          7.430.600                  5.467.500           5.467.500          1.297,44
                                                                                                                         Ags 2015
                                                                                                                         Feb 2012-
Officer                                   -                        102.442.500         102.442.500          1.297,44
                                                                                                                         Ags 2015


MESOP Level 3
                                                                        Number of Options
                                                Number of
                                                                                                          Option Price
 No                 Name and Position         Shares Owned                           Which Has Been                          Time period
                                                                                                             (Rp.)
                                                 (Shares)    Provided (Shares)         Executed
                                                                                        (Shares)
board of Commissioners
 1.       Chandra Martha Hamzah           -                  -                   -                    -                  -
 2.       Iqbal Latanro                   -                  -                   -                    -                  -
 3.       Ahdi Jumhari Luddin             -                  -                   -                    -                  -
 4.       Andin Hadiyanto                 -                  -                   -                    -                  -
 5.       Armand B. Arief                 -                  -                   -                    -                  -
 6.       Herry Trisaputra Zuna           -                  -                   -                    -                  -
  7.      Himawan Arief S.                -                  -                   -                    -                  -
  8.      Sentot A. Sentausa              -                  -                   -                    -                  -
Directors
 1.       Haru Koesmahargyo               -                  -                   -                    -                  -
 2.       Nixon L. Pahotan Napitupulu     -                  -                   -                    -                  -
 3.       Andi Nirwoto                    -                  -                   -                    -                  -
 4.       Jasmin                          -                  -                   -                    -                  -
 5.       Setiyo Wibowo                   -                  -                   -                    -                  -
                                                                                                                         Feb 2013-
 6.       Elisabeth Novie Riswanti        -                            56.000              56.000          1.098,36
                                                                                                                         Ags 2016
                                                                                                                         Feb 2013-
 7.       Hirwandi Gafar                  -                            47.500              47.500          1.098,36
                                                                                                                         Ags 2016
                                                                                                                         Feb 2013-
 8.       Nofry Rony Poetra               -                            61.500              61.500          1.098,36
                                                                                                                         Ags 2016
                                                                                                                         Feb 2013-
 9.       Eko Waluyo                      -                            44.500              44.500          1.098,36
                                                                                                                         Ags 2016
                                                                                                                         Feb 2013-
Executive Office                                7.430.600            5.566.500           5.566.500          1.098,36
                                                                                                                         Ags 2016
                                                                                                                         Feb 2013-
Officer                                   -                        102.367.500         102.367.500          1.098,36
                                                                                                                         Ags 2016




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                                                                                                          2023 Annual Report




The MESA and MESOP programs were completed in 2016. Since                         Total Amount of Deferred Variable Remuneration
then Bank BTN has had no Share Option program for Directors,
Board of Commissioners, Executive Officers and Employees.
                                                                                         Deferred Variable                 Deferred Variable
                                                                                       Remuneration in 2023              Remuneration in 2022
Highest and Lowest Salary Ratio
                                                                                   Cash      IDR 4,961 million        Cash              IDR 1,510 million

                                                                                             13,398,206
        Salary Ratio                      2023                     2022            Shares                             Shares            5,018,840 (shares)
                                                                                             (sheet)
 Highest and Lowest
                                        22,44 : 1                22,34 : 1
 Employee Salaries
                                                                                  Total Amount of Deferred Variable Remuneration
 Highest and Lowest
                                         1,18 : 1                 1,18 : 1        Paid for 1 (One) Year
 Directors' Salaries

 Highest and Lowest
                                         1,11 : 1                 1,11 : 1
 Commissioner Salaries                                                                   Deferred Variable                 Deferred Variable
                                                                                       Remuneration in 2023              Remuneration in 2023
 Highest Directors' and
 Highest Employees'                      2,92 : 1                 2,90 : 1
                                                                                     Cash        Rp 603.096.246       Cash             Rp 458.925.047
 Salaries

Information :
                                                                                                    1,757,934
                                                                                    Shares                            Shares           1,044,300 (shares)
*The highest salary employee is the permanent employee with the highest salary.                       (sheet)
*The lowest salary employees are permanent employees with the lowest salary.

                                                                                  Amount of Remuneration Given in One Year
Number of Recipients and Total Amount
of Variable Remuneration that is                                                  A. Fixed Remuneration
Unconditionally Guaranteed
                                                                                       Type of Remuneration                            Amount
Bank BTN does not have a policy of granting Variable
                                                                                   Cash                                        111,227 million
Remuneration (RBV) and without conditions, because the policy of
granting RBV is applied uniformly without considering the length                   Shares/share-based instruments
                                                                                                                                          -
                                                                                   issued by Bank BTN
of the work period. Bank BTN is committed to implementing a
competitive, fair and balanced remuneration system and always
ensuring that no employee receives compensation below the                         B. Variable Remuneration
provisions set by the Government. Bank BTN also reviews and
                                                                                        Type of
updates its remuneration policy so that it is relevant to industrial                                             Not Delayed                  Postponed
                                                                                      Remuneration
developments and business strategies and gradually adopts
                                                                                                                                                IDR 3,811
aspects of compliance with applicable banking regulations                          Cash                     IDR 65,256 million
                                                                                                                                                    million
regarding remuneration.
                                                                                                                                              10,204,900
                                                                                   Shares                                      -
                                                                                                                                                  (shares)
Number of Employees Affected by Termination of
Employment and Total Nominal Severance Pay Paid
                                                                                  Quantitative Information
Voluntary Retirement Program Table Limited (PPST)

           The nominal amount                                                       Variable Types of
                                           Number of PPST Employees                                              Not Delayed                  Postponed
             of severance pay                                                        Remuneration
  No.
           paid per person in 1
                                                                                                                                                IDR 4,961
                 (one) year                   2023                  2022
                                                                                   Cash                      IDR 65,256 million
                                                                                                                                                    million

                                                                                                                                              13,398,206
 1.       Above IDR 1 billion                    -                     1           Shares                                          -
                                                                                                                                                  (shares)

          Above IDR 500 million
 2.                                              6                     9
          - 1 billion

          IDR 500 million and
 3.                                              1                     -
          below




                                                                                      PT Bank Tabungan Negara (Persero) Tbk                            603
Page 235
                                                          Corporate
                                                          Governance




Public Accountant                                                      6. Appointment of the same Signing Partner (responsible
                                                                          Partner) by the Public Accounting Firm shall be carried out
External Audit Function                                                   no later than for an audit period of 3 (three) consecutive
                                                                          reporting Financial Years, and in the following 2 (two)
The Company appointed an External Auditor to carry out an                 consecutive years not using AP ( Signing Partner) the same;
audit of the Financial Report for the 2023 Financial Year. This is     7. In the work agreement for the Procurement of KAP Services,
in order to comply with OJK Regulation No.37/POJK.03/2019                 at least the scope of the audit is stated in accordance with
concerning Transparency and Publication of Bank Reports.                  OJK Circular Letter No. 36 of 2017 and a review of the
External auditors are required to be able to provide accountable,         calculation of the KPI achievements of the Board of Directors
independent and reasonable information and data, especially               both collectively and individually in accordance with article
regarding financial, operational aspects and compliance with              10 paragraph (2) in the Minister of BUMN Regulation No.
applicable regulations.                                                   PER- 11/MBU/II/2020 dated November 12, 2020; and
                                                                       8. AP, KAP and people within KAP in providing services are
External audits are carried out by independent parties who have           required to fulfill independent conditions during the audit
fulfilled the requirements to ensure that the Company's accounting        period and professional assignment period, which are
records are required to report Bank Risk profiles Bank Wide. The          stated in a Statement Letter and submitted by KAP before the
risk profile report includes an assessment of Inherent Risk and an        professional assignment period begins.
assessment of the Quality of the Company's Risk Management
Implementation. prepared in accordance with the provisions of          The Board of Commissioners, based on the recommendation of the
the Statement of Accounting and Financial Standards (PSAK)             Audit Committee, has appointed the Public Accounting Firm KAP
and the reports prepared present the financial position and            Purwantono, Sungkoro & Surja (Ernst & Young Global Limited) as
business results fairly and the business operations carried out        the auditor who will audit the Financial Report of PT Bank Tabungan
by the Company do not violate the provisions of the applicable         Negara (Persero) Tbk. Fiscal Year 2023 via letter from the Board of
regulations.                                                           Commissioners Number 21/KOM/BTN/II/2023 dated February
                                                                       01, 2023. This appointment has also been ratified in the GMS of
Appointment of Public Accountant                                       PT Bank Tabungan Negara Persero Tbk dated March 28, 2023
                                                                       as stated in the Third Agenda. The legality of the assignment to
The Company appointed a public accounting firm (KAP) through           audit the Financial Report for the Implementation of the Social and
the GMS in connection with the need for an Audit of Financial          Environmental Responsibility Program (TJSL) for the 2023 financial
Reports for the 2023 Fiscal Year. The appointment of a Public          year of PT bank Tabungan Negara Persero Tbk has been stated
Accountant (AP) and Public Accounting Firm was carried out             in the Cooperation Agreement (PKS) No.02/PKS/FAD/VIII/2023
through a tender mechanism for the procurement of general audit        dated August 15, 2023.
services, with the following qualifications:
1. Is a Public Accounting Firm that is ranked in the top 10            In the process of appointing KAP services, we follow the
    (ranking based on the official Public Accounting Firm              regulations of the OJK Regulation Number 13/POJK.03.2017
    association);                                                      which will then be replaced in 2023 with OJK Regulation
2. Have experience conducting general audits on banks that             Number 9 of 2023 concerning the Use of Public Accounting
    have gone public and have assets of at least IDR 100 trillion;     Services and Public Accounting Firms in Financial Services
3. Have a certificate of affiliation with an international KAP;        Activities. Procedures for Using KAP Services refer to OJK
4. Have experience auditing commercial banks and Social and            Circular Letter Number 36/SEOJK.03/2017, then in 2023
    Environmental Responsibility (TJSL);                               OJK Circular Letter Number 18/SEOJK.03/2023 will be issued
5. Included in KAP registered with OJK, and not subject to OJK         concerning Procedures for Using Public Accountant and Public
    sanctions;                                                         Office Services in Financial Services Activities.




604         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                   2023 Annual Report




Public Accounting Firm, Name of Accountant and Fee

Table of Public Accounting Firms, Accountant Names and Fees
                                                                             Name of Accountant
    Year           Public accounting firm             Period CHAP                                           AP Period     Audit Service Fee
                                                                             (Responsible Partner)
 2023         Purwantono, Sungkoro & Surja        9th period              Christophorus Alvin Kossim       1st period     Rp4.800.000.000

 2022         Purwantono, Sungkoro & Surja        8th period              Muhammad Kurniawan               2nd period     Rp4.390.000.000

 2021         Purwantono, Sungkoro & Surja        7th period              Muhammad Kurniawan               1st period     Rp4.050.000.000

 2020         Purwantono, Sungkoro & Surja        6th period              Yovita                           1st period     Rp3.249.000.000

 2019         Purwantono, Sungkoro & Surja        5th period              Muhammad Kurniawan               1st period     Rp2.650.000.000

 2018         Purwantono, Sungkoro & Surja        4th period              Yasir                            2nd period     Rp2.367.000.000

 2017         Purwantono, Sungkoro & Surja        3rd period              Yasir                              1st period   Rp2.290.000.000



Fees and Other Services Provided by Accountants

During 2023, there will be no other services provided by accountants..


Audit Opinion

                                  Year                                                                 Audit Opinion

                                 2023                                    Reasonable Without Exceptions

                                 2022                                    Reasonable Without Exceptions

                                 2021                                    Reasonable Without Exceptions

                                 2020                                    Reasonable Without Exceptions

                                 2019                                    Reasonable Without Exceptions

                                 2018                                    Reasonable Without Exceptions




Internal Control System
                                                                          Control Objectives
The implementation of the internal control system is carried out in
order to support the achievement of the Company's performance             1. Compliance with statutory provisions and regulations, both
objectives, increase value for stakeholders, minimize the risk of loss       regulations issued by the Government, Regulators, and
and maintain compliance with applicable laws and regulations. The            internal regulations established by the Bank.
Company implements an internal control system as an important             2. Availability of complete, accurate, appropriate and timely
supervisory component in the management of the Company and                   financial and management information.
as a reference for healthy and controlled operational activities.         3. Effectiveness and efficiency in the Bank's business activities.
The Company refers to COSO (Committee of the Sponsoring                   4. Increasing the effectiveness of risk culture in the Bank
Organizations of the Treadway Commission) - Internal Control                 organization as a whole.
Integrated Framework in preparing an internal control framework           5. To increase company value.
to ensure the adequacy of operational and financial controls,
financial reporting, operational effectiveness and efficiency, as well
as compliance with applicable laws and regulations .




                                                                                  PT Bank Tabungan Negara (Persero) Tbk               605
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                                                            Corporate
                                                            Governance




Supervision by Management and Control Culture                            Operational, Financial Control and Compliance
                                                                         with Legislation
The Board of Commissioners is responsible for ensuring that
the Board of Directors has monitored the effectiveness of the            Control Activities and Separation of Functions
implementation of the internal control system, so that the Board
of Commissioners has an active role in ensuring that there are           Control activities must involve all Bank employees because it is
improvements to the Company's problems that can reduce the               an activity that is inseparable from every day-to-day function or
effectiveness of the internal control system. The Board of Directors     activity of the Bank. Therefore, control activities will be effective
is responsible for establishing policies and strategies as well          if they are planned and implemented to control the risks that
as internal control procedures. The Board of Directors is also           have been identified. Control activities include establishing
responsible for monitoring the adequacy and effectiveness of the         control policies and procedures such as determining authority,
internal control system. The Board of Commissioners and Directors        authorization, reconciliation, verification, assessment of work
are responsible for improving work ethics and high integrity as          performance, division of tasks and safeguarding company assets.
well as creating an organizational culture that emphasizes to all        1. Control Activities
Bank employees the importance of internal control that applies                Control activities include policies, procedures and practices
in the Company.                                                               that provide confidence to Bank officials and employees
                                                                              that the Directors' directions have been implemented
Furthermore, the monitoring process by management and a well-                 effectively. These control activities can assist the Bank's
implemented control culture encourage the creation of a Control               Board of Directors, including the Board of Commissioners, in
Environment that reflects the overall commitment, behavior,                   managing and controlling risks that could affect performance
concern and steps taken by the Board of Commissioners and                     or result in Bank losses. Control activities are implemented
Directors in carrying out the Bank's operational control activities.          at all functional levels in accordance with the Bank's
The Control Environment elements include:                                     organizational structure, which includes at least:
1. Adequate organizational structure and human resource                       a. Management Reviews (Top Level Reviews)
    development;                                                                  The Bank's Directors periodically request explanations
2. Leadership style and Bank Management philosophy;                               (information) and operational performance reports must
3. Integrity and ethical values and
                                ​​   competence of all employees;                 be reported by officers and staff so that it is possible
4. Bank human resource policies and procedures;                                   to review actual results compared to the targets to be
5. Attention and direction provided by the Board of Directors and                 achieved. Based on this review, the Bank's Board of
    other committees such as the Risk Management Committee                        Directors can immediately detect problems such as
6. Methods adopted by Bank Management in carrying out their                       control weaknesses, financial reporting errors or fraud.
    authority and responsibilities; And                                       b. Operational Performance Review (functional review)
7. External factors that influence Bank operations and the                        Reviews carried out by the Internal Audit Division
    implementation of risk management.                                            periodically include:
                                                                                  1) Review the risk assessment (risk profile report)
Risk Identification and Assessment                                                     produced by the Risk Management Work Unit.
                                                                                  2) Analyze operational data, both risk-related data
Risk assessment is a series of actions carried out by the Board                        and financial data, namely verifying transaction
of Directors in order to identify, analyze and assess the risks                        details and activities compared to the output (report)
faced by the Bank to achieve its business targets. Risks may                           produced by the Risk Management Work Unit.
arise or change according to the Bank's conditions. Banks must                    3) Review the realization of the implementation of the
continuously identify and assess risks that could affect target                        work plan and budget, in order to identify the causes
achievement. Internal control needs to be reviewed appropriately                       of significant deviations and determine requirements
in the event that there are risks that have not been controlled,                       for corrective actions..
whether risks that previously existed or have just emerged.
Implementation of this review includes, among other things,
carrying out continuous evaluation regarding the influence of any
changes in the environment and conditions as well as the impact
of achieving targets or the effectiveness of internal control in the
Bank's operational activities.




606         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                              2023 Annual Report




   c. Information Systems Control                                          a. The bank determines procedures (authorities) including
        Information System control is carried out by verifying                determining a list of officers who can access high-risk
        the accuracy and completeness of transactions in                      transactions or business activities.
        accordance with internal regulations. Information system           b. Avoid giving authority and responsibility which could
        control activities can be classified into 2 (two) criteria,           give rise to various conflicts of interest.
        namely:
        1) General control, including control over data center         Accounting, Information and Communication Systems
             operations, software procurement and maintenance
             systems, access security, as well as development and      The information and communication system is a process of
             maintenance of existing application systems. This         presenting reports regarding operational, financial activities, as
             general control is applied to mainframes, servers,        well as compliance and adherence to statutory provisions by the
             and user workstations, as well as internal-external       Bank.
             networks.                                                 1. The accounting system includes methods and records for
        2) Application control, applied to the programs used               identifying, grouping, analyzing, classifying, recording
             by the Bank in processing transactions and to ensure          or posting, and reporting Bank transactions. To ensure
             that all transactions are correct, accurate and have          accounting data is accurate and consistent with available
             been properly authorized. In addition, application            data based on system processing results, the reconciliation
             controls must be able to ensure the availability of an        process between accounting data and the management
             effective audit process and to check the correctness          information system must be carried out periodically. Any
             of the audit process in question.                             irregularities that occur must be immediately investigated
   d. Control of Physical Assets                                           and the problem resolved. The reconciliation process must
        Physical asset control is implemented to ensure the                also be documented as part of the overall audit trail process
        implementation of physical security for the Bank's assets.         requirements.
        This activity includes securing assets, records and limited    2. The information system must be able to produce reports
        access to computer programs and data files, as well as             regarding business activities, financial conditions,
        comparing the value of the Bank's assets and liabilities           implementation of risk management and compliance with
        with the value stated in the control records, in particular        statutory provisions and regulations. This information system
        checking asset values ​​periodically.                              includes a system for storing and using electronic data whose
   e. Documentation                                                        security is guaranteed, monitored by an independent party
        Banks at least formalize and document policies,                    (internal auditor) and supported by an adequate contingency
        procedures, accounting systems and standards as well               program.
        as adequate audit processes. This documentation must
        be updated periodically to reflect the Bank's actual           3. The communication system must be able to provide information
        operational activities and must be communicated to Bank             to all parties, both internal and external, shareholders and
        officials and employees. Upon request, documents must               Bank customers.
        always be available for the benefit of internal auditors,      Currently the Company is in the process of developing Internal
        public accountants and bank supervision by regulators.         Control Over Financial Reporting (ICOFR) as an effort to internal
        The accuracy and availability of documents must be             control over financial reporting, to ensure the accuracy of
        assessed by internal auditors when conducting routine          transaction recording and prevent/detect errors/misuse of assets
        and non-routine audits.                                        which could have a material impact on financial reports. With
2. Separation of Functions                                             this development, it is hoped that in the future, the Company will
   Separation of functions or what is known as the "Four Eyes          have adequate internal controls which the Company will assist
   Principle" is intended so that each person in their position        the Bank in the following aspects:
   does not have the opportunity to commit and hide mistakes           1. Increased credibility provided to all stakeholders, owners,
   or deviations in the implementation of their duties at all levels        workers, customers, vendors.
   of the organization and all steps of operational activities,        2. Information for managing the company is more reliable.
   through the following matters:                                      3. Reduced risk of errors and irregularities.




                                                                           PT Bank Tabungan Negara (Persero) Tbk                  607
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                                                          Corporate
                                                          Governance




Compliance with other laws and regulations                                      in connection with changes in internal and external
                                                                                conditions and must increase the capacity of the internal
In carrying out control of compliance with statutory regulations,               control system so that its effectiveness can be increased.
the Company has a Compliance Function which is carried out                 b. The steps taken by the Bank in order to carry out effective
by the Compliance and Governance Division. The Compliance                       monitoring activities include at least the following:
and Governance Division has duties and responsibilities,                        1) Ensure that the monitoring function has been
including establishing compliance systems and procedures that                        clearly defined and well structured within the Bank
will be used to formulate the Company's internal regulations                         organization;
and guidelines, ensuring that all policies, provisions, systems                 2) Determine the work unit/employee assigned to
and procedures, as well as business activities carried out by                        monitor the effectiveness of internal control;
the Company are in accordance with OJK regulations. , Bank                      3) Determine the appropriate frequency for monitoring
Indonesia and applicable laws and regulations, including                             activities based on the risks inherent in the Bank
Sharia Principles as well as carrying out other tasks related to                     and the nature/frequency of changes occurring in
the Compliance Function including monitoring and maintaining                         operational activities;
the Company's compliance with commitments made by the                           4) Integrate the internal control system into operational
Company to the Financial Services Authority, Bank Indonesia,                         activities and provide routine reports which are then
and other supervisory authorities. authorized.                                       reviewed;
                                                                                5) Review documentation and evaluation results
The Company always consistently carries out the Compliance                           from work units/employees assigned to carry out
Function which is a series of actions or steps that are preventive                   monitoring; And
(ex-ante). These efforts are carried out, among other things,                   6) Determine information or feedback in an appropriate
to realize the implementation of a culture of compliance at all                      format and frequency.
levels of the Company's organization and business activities;          2. Improvement of Weaknesses and Correction of Deviations
managing compliance risks; as well as ensuring the Company's               Weaknesses in internal control, whether identified by the
compliance with the Financial Services Authority and/or other              operational work unit as a risk taking unit, risk management
competent supervisory authorities.                                         work unit, compliance work unit, internal audit work unit, or
                                                                           other parties must be immediately reported to the competent
Monitoring Activities and Deviation Correction Actions                     authorities. Corrective steps that must be taken include the
                                                                           following:
1. Monitoring Activities                                                   a. Any report regarding weaknesses in internal control or
   a. Banks must continuously monitor the overall effectiveness                 ineffective risk control must be immediately followed up
      of the implementation of internal control. Monitoring of                  by authorized officials;
      the Bank's main risks must be prioritized and function               b. To ensure that all weaknesses are immediately followed
      as part of the Bank's daily activities, including regular                 up, authorized officials must create a system that can
      evaluation, both by operational work units and internal                   track weaknesses in internal control and take corrective
      audit work units. Banks must also monitor and evaluate                    steps; And
      the adequacy of the internal control system continuously             c. The results of identifying all problems in internal control
                                                                                must be reported to authorized officials.




608         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                           2023 Annual Report




Compatibility with The Committee of Sponsoring                      Review of The Effectiveness of The Internal Control
Organizations of Treadway Commission (COSO)                         System

The Company's Internal Control System as stipulated in General      In 2023, the Company conducted Internal Control in accordance
Policy (KU) Number 7 dated December 30, 2022 concerning             with the Control principles and in overall, the quality of the
Internal Control Systems has referred to the OJK Circular Letter    Internal Control System had been running well. The Company
No.35/SEOJK.03/2017 dated July 7, 2017 concerning                   through the Internal Audit Division (IAD) conducted an Internal
Standard Guidelines for Internal Control Systems for Commercial     Control Assessment (ICA) in order to evaluate the effectiveness
Banks which are also in line with the Internal Control Integrated   of the Internal Control System. This assessment measures the
Framework developed by The Committee of Sponsoring                  quality of internal control of the auditee work unit over 5 (five)
Organizations of the Treadway Commission (COSO). Internal           internal control components of the COSO Framework employing
control objectives according to COSO include operational            the Internal Control Assessment (ICA) questionnaire rating criteria
objectives, reporting objectives, and compliance objectives.        and methodology as well as the auditor's professional judgment
                                                                    through direct testing (walkthrough) in the field.
In COSO it is stated that internal control is a system or process
that is carried out by the Board of Commissioners, Directors,       Broadly speaking, the steps taken by the Company in order
Management, and employees in a company to provide adequate          to ensure the implementation of effective monitoring activities,
guarantees for the accomplishment of control objectives.            included:
COSO – Internal Control Framework, consists of 5 (five) control     1. Ensuring that the Monitoring function has been clearly
components namely:                                                       defined and well-structured within the Bank's organization;
                                                                    2. Establishing Work Units or employees assigned to monitor
1. Environment Control, which is a fundamental component                 the effectiveness of internal control;
   of the Internal Control System. This component reflects the      3. Determining the appropriate frequency for monitoring
   nuances and atmosphere of concern for all levels of officials         activities based on the risks inherent in the Bank and the
   and leaders regarding the importance of effective internal            nature or frequency of changes that occur in operational
   control. This control environment is heavily influenced by the        activities;
   Strong Tone at the Top.                                          4. Integrating the Internal Control System into Operational
2. Risk Assessment which is a series of awareness of all                 activities and providing routine reports such as Bookkeeping
   employees on risk culture and activities of evaluating,               Journals, Management Reviews and Reports regarding the
   assessing, and mitigating risks.                                      approval of exceptions or aberrations from established
3. Control Activities which include the adequacy of policies,            policies and procedures (justification of irregularities) which
   provisions, and procedures as well as compliance in the               are then reviewed;
   implementation of operational activities.                        5. Reviewing the documentation and evaluation results from the
4. Information and Communication Control which is the condition          Work Unit or employee assigned to carry out monitoring;
   of both internal and external effective communication            6. Establishing information or feedback in the right format and
   channels in accordance with their respective responsibilities.        frequency.
5. Monitoring Control, which is the process of assessing the
   effectiveness of the design and operation of the internal        In addition, the Company also carried out an Audit on Compliance
   control structure and management performance monitoring          with Legislation and Internal Control (PSA 62) to ensure the
   activities, whether they have been carried out properly and      Company's compliance with legal articles, regulations, and
   have been corrected according to the circumstances.              cooperation agreements as well as internal control compliance
                                                                    which includes control environment, Risk Identification, control
                                                                    activities, information, and communication as well as monitoring.
                                                                    Evaluation of the effectiveness of the Company's internal control
                                                                    (risk control) system was carried out in all Head Office units
                                                                    (division/desk/Regional Office) as well as Branch Offices, both
                                                                    Conventional and Sharia. Everything related to internal control
                                                                    adequacy issues had been reported directly to the Board of
                                                                    Directors through the President Director and to the Board of
                                                                    Commissioners through the Audit Committee. Follow-up efforts
                                                                    had been made to minimize risks and overcome problems that
                                                                    arose




                                                                        PT Bank Tabungan Negara (Persero) Tbk                    609
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                                                            Corporate
                                                            Governance




Statement of The Board of Directors and/or The                              Risk using the Standard Approach for Commercial Banks in
Board of Commissioners Regarding The Sufficiency                            accorance with applicable regulatory provisions.
of The Internal Control System                                           2. The use of the Standardized Model for market risk in
                                                                            accordance with OJK Circular Letter No. 38/SEOJK.03/2016
The Board of Directors and the Board of Commissioners are                   dated September 8, 2016 concerning Guidelines for Using
committed to ensuring that Good Corporate Governance                        the Standard Method in the Calculation of the Minimum
is carried out properly as a basis for achieving goals to                   Capital Adequacy Requirement for Commercial Banks by
maintain and increase the value of the Company. One of the                  Taking Market Risk into Account and currently the Bank has
implementations of Good Corporate Governance is ensuring that               prepared OJK Circular Letter No. 23/SEOJK.03/2022 dated
the Internal Control System has been implemented adequately.                December 7, 2022 concerning Calculation of Risk-Weighted
                                                                            Assets for Market Risk for Commercial Banks which will be
The Board of Directors and the Board of Commissioners                       implemented starting January 1, 2024, by carrying out trial
review the results of the evaluation of the effectiveness of the            calculations and reporting to the FSA for Market RWA for
Company's Internal Control System which includes the five main              June 2023, September 2023, and December 2023.
components of control, namely the Environment Control including          3. Calculation of minimum capital requirements using the
Management Oversight and Culture of Control, Risk Recognition               Standard Approach Operational Risk for RWA calculation
and Assessment, Control Activities and Segregation of Duties                by referring to OJK Circular Letter No. 06/SEOJK.03/2020
of Accountancy, Information, and Communication, Monitoring                  dated April 29, 2020, and currently the Bank is recording
Activities and Correction Deficiencies. Based on the results of the         loss data related to operational risks in accorance with
review that has been carried out, the Board of Directors and the            Regulatory provisions..
Board of Commissioners consider that the internal control system
has been implemented adequately.                                         Implementation of Bank Stress Testing focuses on 3 (three) types
                                                                         of risk, namely Credit Risk, Market Risk, and Liquidity Risk. As
This Internal Control System Standard Guide is a guideline that          an effort to improve risk measurement, especially Credit Risk,
contains the minimum standard regarding the Internal Control             Market Risk, and Liquidity Risk, the Bank conducts periodically
System that must be enforced and applied by the Company in               stress tests on the worst-case scenario as stipulated in the bank's
all aspects related to the enactment and implementation of the           internal regulations with a frequency of at least once a year for
Company's operational activities, so as to create a common               credit risk and quarterly for market risk and liquidity risk. Stress
understanding and basis regarding the level of maintenance of            testing is carried out periodically to assess capital adequacy in
interests and commitment from all parties related to the Bank.           the event of problems that have extreme risk or are catastrophic
                                                                         but plausible. The Stress Testing of Market Risk and Liquidity Risk
Risk Management Report                                                   has been carried out on a quarterly basis, while the Stress Testing
                                                                         of Credit Risk, Market Risk, and Liquidity Risk is carried out at
In the context of implementing risk management and as a                  least once a year.
followup to the implementation of Basel II, especially pillar 1, the
Bank has implemented:                                                    In addition, the Bank also conducts Stress Testing for the need
1. Measurement of Credit Risk by mapping credit risk exposure            to update Recovery Plan documents every year as part of the
     according to portfolio category in calculating RWA for              implementation of Basel III. 31/POJK.03/2019 dated December
     Credit Risk using the Standardized Approach referring to            2, 2019 concerning the Obligation to Fulfill Leverage Ratios
     OJK Circular Letter No. 11/SEOJK.03/2018 concerning                 for Commercial Banks, the monthly Liquidity Coverage Ratio
     Amendments to OJK Circular Letter No. 42/SEOJK.03/2016              (LCR) to regulators as stipulated in OJK Regulation No. 42/
     concerning Guidelines for Calculation of Risk-Weighted              POJK.03/2015 dated December 23, 2015 concerning the
     Assets for Credit Risk using a Standard Approach. Currently,        obligation to fulfill the Liquidity Coverage Ratio for Commercial
     the Bank has implemented the calculation of Risk Weighted           Banks, Net Stable Funding Ratio (NSFR) per quarter to regulators
     Assets (RWA) for Credit Risk in accorance with OJK Circular         as stipulated in OJK Regulation No. 50/POJK.03/2017 dated
     Letter No. 24/SEOJK,03/2021 dated October 7, 2021,                  July 13, 2017 concerning the Obligation to Fulfill the Net Stable
     concerning Calculation of Risk Weighted Assets for Credit           Funding Ratio for Commercial Banks.




610         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




Risk Appetite Statement

Currently, the Bank had a Risk Appetite Statement (RAS) which is a qualitative statement as well as a quantitative measure of the Bank's
main risks. Disclosure of RAS was performed in writing and well documented by the Risk Management Work Unit. Determination of RAS
limits is carried out by the Board of Commissioners and Directors. In determining RAS, economic, environmental and social sustainability
has been taken into account which is then aligned to the preparation of the Company's Work Plan and Budget (RKAP), Risk Appetite,
Risk Tolerance and Recovery Plan. The quantified risks included:


Risk Appetite Statement Bank



                    CREDIT RISKS                                                                          STRATEGIC RISK
   Maintain sustainable asset growth                                                                      Focus on the housing sector to
  with a healthy level of asset quality                                                                   maintain profitability and capital
                                                                                                          that is in line with risk levels and is
                                                                                                          sustainable




                    MARKET RISK                                                                           LEGAL RISKS
   Maintain optimal levels of interest                                                                    Maintain legal policies
     rate and exchange rate risk to                                                                       and engagement to minimize
    support profitability growth and                                                                      lawsuits and legal risks
                   capital resilience




                                                             Risk Appetite
                  LIQUIDITY RISK                            Statement Bank                                COMPLIANCE RISKS
  Maintain liquidity at optimal levels                                                                    Committed to complying with
      to support profitability growth                                                                     applicable laws and regulations,
   and anticipate potential liquidity                                                                     external and internal regulations
                            pressures




         OPERATIONAL RISKS                                                                                REPUTATION RISKS
     Maintaining intolerance towards
                                                                                                          Providing the best service
      operational failures in the bank
                                                                                                          and resolve complaints
  business caused by human factors,
                                                                                                          customers completely
      internal processes, systems and
   technology as well as maintaining
     resilience to external factors and
 changes in the business environment




Risk Management System

In the risk management system, the Bank carries out a risk management process that is supported by 4 pillars of risk management
implementation, namely:
1. Active Supervision by the Board of Commissioners and the Board of Directors.
2. Adequacy of risk management policies and procedures and application of risk limits.
3. Adequacy of risk identification, measurement, monitoring, and control processes as well as information systems.
4. A comprehensive Risk Control System.




                                                                           PT Bank Tabungan Negara (Persero) Tbk                              611
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                                                                                           Corporate
                                                                                           Governance




Active Supervision of The Board of Commissioners and Board of Directors

Management of Risk Management is carried out through active supervision by the Board of Commissioners and Directors and the Risk
Management Work Unit which is described by the risk management organization as follows:



        Organs of the Board of Commissioners and Directors                                                                       Risk Management Work Unit


                                                                                                                               Risk Management Work Unit, a work unit
                                                                                                                               tasked with identifying, measuring, monitoring
                                                                                                                               and controlling risks to assist the duties and
                                                                                                                               responsibilities of the Board of Directors



                                                                                                                               Compliance Work Unit, a work unit tasked with
                                                                                                                               carrying out compliance functions and preventive
       Board Com-                          Directors                               Board Sharia                                measures to assist the duties and responsibilities of
                                                                                                                               the Board of Directors
        missioner                                                                 Supervisor (DPS)

                                                                                                                               Internal audit work unit, a work unit tasked with
1 Risk Monitoring Committee         1 Aset & Liabilitas (ALCO) Committee                                                       ensuring the Bank's internal control to assist
                                                                                                                               the duties and responsibilities of the Board of
2 Audit Committee                   2 Information Technology Steering Committee                                                Directors
3 Remuneration and                  3 Risk Management Committee
    Nomination Committee            4 Human Capital Committee
                                    5 Credit Policy Committee
                                                                                                                               Policy Work Unit, work unit tasked with managing
                                    6 Credit Committee
                                                                                                                               Bank policies and procedures to assist the duties
                                    7 Business Committee                                                                       and responsibilities of the Board of Directors
                                    8 Transformation Steering Committee
                                    9 ESG Committee



The organ of the Board of Commissioners and the Board of Directors is assisted by several committees in carrying out banking duties
and activities in accordance with applicable Regulatory provisions; then, the duties are forwarded to the layers under the body of the
Board of Commissioners and Board of Directors, namely the Risk Management Work Unit, Compliance Work Unit, Internal Audit Work
Unit, and Policy Work Unit.


Adequacy of Risk Management Policies and Procedures and Determination of Risk Limits

In implementing healthy risk management, adequate risk management policies and procedures are required. Bank BTN was currently
carrying out a policy and procedure architectural transformation according to the ideal policy pyramid hierarchy. Following up on
this, Bank BTN has developed a General Risk Management Policy as the highest policy in the application of Risk Management with a
framework covering all activities in the implementation of Bank Risk Management.


The general risk management policy mapping was illustrated starting from the risk management strategy, risk management at the Bank,
and the expected output is a healthy Bank Soundness Level.


                                                                                        output:

Corporate Strategy                                                                     Good Bank
                                                                                       Health Level


                                                                                                                                             Management of Types of Risk in Banks
                                         RISK MANAGEMENT STRATEGY
                                                                                                                            Credit Risk                    Credit Risk Management
   Risk Appetite/
   Risk Tolerance
                                    RISK MANAGEMENT LIMITS                                                                  Market Risk
                                                                                                                                                           Market and Liquidity Risk Management
                        Risk                                                                    Risk
                                                                                                                            Liquidity Risk
                        Credit                                     I de n                Operational
                                                        r   ting         tifi
                                                  po                                                     Capital Strategy
                                                                                                                            Operational Risk
    Recovery &
                                            Re




                                                                           ca




                        Risk                                                                      Risk                                                     •   Operational, Legal, Compliance and
Resolution Plan (RRP)
                                                                                tio




                        Market                                                               Liquidity                                                         Reputation Risk Management
                                                    Process
                                                                                n




                                                                                                                            Legal Risk                     •   IT, Cyber and Digital Risk
                                        Control




                        Risk                      Management                                    Risk
                                                                                                                                                           •
                                                                                                                                                               Management
                                                                                                                                                               Risk Management for New Activities
                        Law                                                               Reputation                        Compliance Risk
                                                      Risk
                                                                                Mea




                                                                                                                                                               and Products
                        Risk                                                                    Risk                                                       •   Business Continuity Management
                                                                                   s




                                                                                                         • Business         Reputational Risk
                                                                            ur
                                              g




                        Strategic                                        em               Obedience
                                                  in
                                                           tor      nt      e                              Continuity
 Risk Management                                       Moni                                                Management
                        Risk                                                                     Risk                                                      Strategic Risk Management Recovery Plan
   Organization         yield                                                                                               Strategic Risk
                                                                                           Investment                                                      and Resolution Plan
                                                                                                         • Contingency
                                                                                                           Plan
                                 RISK MANAGEMENT INFORMATION SYSTEM
                                                                                                         • Penerapan        Return Risk
      Control                                          RISK CULTURE                                        Manajemen                                       Sharia Risk Management
      Internal                                                                                             Risiko           Investment Risk
                                      RISK MANAGEMENT GUIDELINES



612                 PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                                                  2023 Annual Report




In addition to the adequacy of risk management policies and procedures, the Bank had also conducted a series of processes in setting
risk limits which were formulated and elaborated by following and/or aligning with the Company's Work Plan and Budget to the
Recovery Plan in accordance with applicable regulations. The illustration of setting limits is as follows:


                                                                                                                                RKAP
   01                   RKAP
                                                                 Bussiness as Usual
                                                                                                                                Company Work Plan and Budget prepared for the next 1 (one) year


   02              RISK APPETITE
                                                            Contingency Actions                                                 Risk Appetite (RA)

                                                                                                                                Risk Appetite is the level of risk that the Bank is willing to take in order to achieve
   03             RISK TOLERANCE                                                                                                targets
                                                            Recovery Plan Actions

                  RECOVERY PLAN                                                                                                 Risk Tolerance (RT)
   04                 REPAIR
                                                            Recovery Plan Actions
                                                                                                                                Risk Tolerance is the maximum risk level set by the Bank

                  RECOVERY PLAN
   05               RECOVERY
                                                            Recovery Plan Actions                                               Recovery Plan

   06             RECOVERY PLAN
                    RECOVERY                                                                                                    The Recovery Plan is an Action Plan to overcome financial problems that may occur




In strengthening risk management policies and procedures, in the practice, Bank BTN also included risk management as one of the pillars of
the Bank's corporate culture, where one of the pillars of corporate culture is Governance & Risk Culture. The Governance & Risk Culture pillar
is an urgent and crucial pillar to be strengthened so that all business processes run prudently and comply.




                                                  The Best Mortgage Bank in
                                                    Southeast Asia in 2025

                                                          4 Pillars of Culture                                                                                              AKHLAK BTN

       Increase Growth
                                                                                                                                                           To achieve Bank BTN's vision as
                                                                                         Superior
      and Meet Customer                     Clean and Trusted
                                                                                       Performance
                                                                                                                          Keep learning                    The Best Mortgage Bank
         Expectations
                                                                                                                                                           in SEA 2025.
             Sales &                             Governance
                                                                                  Performance Culture                    Learning Culture
                                                                                                                                                           The Best Mortgage Bank in
          Service Culture                       & Risk Culture
                                                                                                                                                           Southeast Asia in 2025 must
                                                                                                                                                           uphold the 4 pillars of culture in
                                                  8 Key Behaviors of BTNers                                                                                carrying out work activities in their
                                                                                                                                                           respective Work Units.
 Hold on firm          Continue        Discipline,       Mutual respect,      Responsible        Proactive,       Respond              Open to
   and obey            learning       consistency         appreciation        and always          effective      quickly to         collaboration
business ethics       to improve      and duty in        and openness           puts the       and efficient      changes           that produces
and regulations      competence       completing         to differences     interests of the    in meeting      and provide          added value
  that applies                       tasks with the                         Company first        customer       opportunities
                                      best quality                                                 needs          to make
                                         results                                                                 continuous
                                                                                                               improvements                                The Governance & Risk Culture
                                                                                                                                                           pillar is an urgent and crucial
                                                                                                                                                           pillar to be strengthened so that all
      1                     2               3                     4                5                 6               7                      8              business processes run prudent
                                                                                                                                                           and in comply.
                            AKHLAK: Core Values and 18 Behavioral Guidelines


     Trustworthy                Competent             Harmonious                   Loyal                 Adaptive             Collaborative




                                                                                                                    PT Bank Tabungan Negara (Persero) Tbk                                                       613
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                                                            Corporate
                                                            Governance




Based on the picture above, to support Bank BTN’s objectives             Risk Identification
based on the Main Values of AKHLAK and the 8 (eight) Main                Risk identification is the process of finding, recognizing, and
Behaviors of BTNers, there are four cultural pillars which are the       recording risks. The purpose of the risk identification process is to
main foundation of the 2023 – 2024 Corporate Culture Program,            identify all types of risks inherent in each functional activity that
with the objectives namely:                                              have the potential to harm the Company. The risk identification
1. Sales & Service Culture – Add to Grow and Meet Customer               process involves analyzing all risk sources, risk events, and the
    Expectation                                                          least impact of risk on the risks of the company's products and
    The end state achievement is increasing sales of funding,            activities, as well as ensuring that risks from new products and
    lending, and digital products and improving service quality          activities have gone through an appropriate risk management
    to encourage Bank BTN’s business and performance,                    process before being introduced or implemented. In addition, the
2. Risk & Governance Culture – Clean and Reliable                        Company identifies risks that are carried out periodically.
    Build awareness and understanding of risks and their
    mitigation and apply risk management principles consistently         Risk Measurement
    and comprehensively.                                                 The risk measurement system is used to measure the risk exposure
3. Performance Culture – Excellent Performance                           inherent in the Company's activities to be compared with the
    Performance improvement efforts to achieve set goals, and;           Company's risk appetite so that the Company can take risk
4. Learning Culture – Keep Learning                                      mitigation measures and measure the Company's capital
    Build enthusiasm for learning and improving critical                 adequacy to cover residual risk. Risk assessments are carried out
    competencies such as Sales, Digital Analytics, Risk &                periodically both for products and portfolios as well as for all the
    Collection competencies as well as strengthening BTNers’             Company's business activities. Risk measurement methods are
    understanding of the importance of culture and the                   carried out quantitatively and/or qualitatively. The measurement
    application of AKHLAK in everyday life.                              method is in the form of a standard method stipulated by Bank
                                                                         Indonesia and the FSA in the framework of risk assessment and
By using these 4 pillars, the implementation of Bank BTN’s               calculation of capital, as well as an internal method developed
corporate culture program is expected to encourage the                   by the Company itself. The choice of measurement method is
achievement of Bank BTN’s Vision.                                        adjusted to the characteristics and complexity of business
                                                                         activities. The risk measurement system is evaluated and refined
Adequacy of Risk Identification, Measurement,                            periodically or at any time if necessary to ensure the suitability
Monitoring and Control Processes and Information                         of the assumptions, accuracy, fairness, and integrity of the data,
Systems                                                                  as well as the procedures used to measure risk. Stress tests
                                                                         are conducted to complement the risk measurement system by
The process of identifying, measuring, monitoring, and                   estimating the Company's potential losses in abnormal market
controlling risks is carried out by the Risk Management Work             conditions using certain scenarios to see the sensitivity of the
Unit, in this case ERMD has a Department that has an assessment          Company's performance to changes in risk factors and identify
work unit to identify and measure each risk. Risk monitoring and         influences that have a significant impact on the Company's
control is carried out periodically to mitigate significant risks to     portfolio. Stress tests are performed on a regular basis, and
the Company, in this case, ERMD has a Department that has a              the results are reviewed, and appropriate steps are taken if it is
Risk Development work unit, one of whose functions is to carry           predicted that the conditions will exceed the acceptable tolerance
out risk control over policies that will be issued by the Company        levels. These results are used as input when setting or changing
to minimize the risks that will be faced by the Company.                 policies and limits.
Identification, measurement, monitoring, and risk control are the
main parts of the process of implementing risk management.


Matters that are of concern to the Company in carrying out the
processes of identification, measurement, monitoring, control,
and risk management information systems are as follows:




614         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                                          2023 Annual Report




Risk Monitoring                                                                                  Risk Management Information System
Monitoring systems and procedures include monitoring the                                         The risk management information system at the Bank is managed
amount of risk exposure, risk tolerance, compliance with internal                                jointly by several Divisions at the Bank. In the early stages, the
limits, and stress testing results, as well as implementation                                    focus was on collecting and improving the quality of the data and
consistency with established policies and procedures. Monitoring                                 risk database, which is expected to be developed and applied
results are presented in periodic reports submitted to management                                to the risk management information system in stages so that the
to mitigate risks and take necessary actions. The Company                                        process of risk measurement and risk monitoring can be carried
prepares an effective backup system and procedures to prevent                                    out in an integrated manner and can be presented in a timely
disruptions in the risk monitoring process and periodically checks                               manner and in accordance with regulatory provisions apply
and reassesses the backup system.
                                                                                                 Internal Control System
Risk Control
The Company's risk control system refers to established policies                                 In carrying out the process of employing effective Risk
and procedures. The risk control process that is implemented is                                  Management, the Bank completed an internal control system that
tailored to the risk exposure and the level of risk that will be                                 aims to protect the Bank's assets, ensure the availability of reliable
tolerated. Risk control can be carried out, among others, by                                     financial and managerial reporting, improve compliance with
means of hedging mechanisms and other risk mitigation methods                                    laws and regulations, and reduce the risk of losses, irregularities,
such as issuing guarantees, asset securitization, credit derivatives,                            and violations of precautionary aspects.
and increasing the Company's capital to absorb potential losses.



The employment of a reliable and effective internal control system is the responsibility of all operational work units and supporting work
units as well as the Internal Audit Work Unit, the process of which is described as follows:



                                             3 Lines of Defense                                                                                      BTN 3 Lines of Defense
                                                                                                                                          The 3 Lines of Defense concept, which consists of:

                                                               BOC - Audit Committee                                                       1st Line
                                                                                                                                           Business Functions, Operational Functions,
                                                                                                                                           and Risk Function
                                                                                                                                          •   Carry out business unit activities in accordance with the
                                            BOD                                                                                               Bank's strategic objectives
                                                                                                                                          •   Carry out unit business activities in accordance with
                                                                                                                                              applicable policies
                                                                                                                                          •   Responsible for risks arising from business activities
                                                                                                            External audit




                                                                                                                                          •   Carry out effective controls and procedures in accordance
     1st Line of Defense               2nd Line of Defense                 3rd Line of Defense
                                                                                                                             Regulators




                                                                                                                                              with Bank policies and directions

 •    Control Environment          •    Develop and monitor            •    Conduct reviews and
      which is conducive                company risks                       evaluations
                                                                                                                                           2nd Line
 •    Consistent implementation    •    Supervision so that business   •    design and implementation
      of policies and procedures        functions implement                 of overall risk management                                     Risk Monitoring Function, Compliance,
 •    Internal control effective        risk management and                 and                                                            and Policy Management
                                        compliance policies and        •    Ensure that the first and
                                        standard procedures                 second layers of defense                                      •   Compliance Unit - Compliance Risk Management
                                                                                                                                          •   Risk Unit - Corporate Risk Management
                                   •    Monitor and report overall          are running
                                                                                                                                          •   Policy Unit - Policy and Procedure Manager
                                        company risks                  •    as expected


                                                                                                                                           3rd Line
                                                                                                                                           Internal Audit Function
                                                                                                                                          Responsible for ensuring the following:
                                       Risk management                                                                                    • Compliance Unit 2nd Line Defense effectively
     Business Functions                                                      Internal Audit                                               • 1st Line Defense as Risk Owner has managed compliance
                                        and Compliance                                                                                       risks adequately




                                                                                                         PT Bank Tabungan Negara (Persero) Tbk                                                   615
Page 247
                                                              Corporate
                                                              Governance




Types of Risks and Their Management                                        Credit Risk Management
                                                                           As part of credit risk management, the Bank regularly reviews
In implementing risk management, the types of risks managed by             and updates the Credit and Financing Policy Guidelines for bank
the Bank included:                                                         loans and financing as part of the risk assessment process. Credit
                                                                           Risk Exposure is monitored from the process of granting credit
Credit Risk                                                                to the maturity of the credit. Credit risk monitoring and control
                                                                           includes evaluating credit risk exposure to credit risk limits (Risk
Credit Risk is the risk of loss due to the failure of other parties        Appetite & Risk Tolerance). The Bank is currently re-modeling
to fulfill their obligations. Included in Credit Risk are the Credit       the Internal Credit Rating (ICR) for commercial credit in order to
Risk due to debtor failure, the Credit Risk due to the concentrated        review ICR so that it can be used more accurately.
provision of funds (Credit Concentration Risk), the Credit Risk due
to counterparty credit risk, the Credit Risk due to settlement failure     The Bank has now implemented a Commercial Banking Center
(settlement risk), and the Credit Risk due to country risk.                (CBC) in which the CBC functions as a centralized body for
                                                                           processing commercial loans. Regarding the decisionmaking
Credit Risk can originate from various Bank business activities.           process for granting commercial loans, the Bank also has
In most banks, lending is the largest source of credit risk. In            established a Credit Committee through a Credit Committee
addition to credit, the Bank faces Credit Risk from various                Meeting. In addition, a Monitoring Department has been
financial instruments such as securities, acceptances, inter-              established in the Commercial Banking Division which specifically
bank transactions, trade financing transactions, exchange                  monitors the credit exposure of large debtors (50 core debtors) and
rate transactions, and derivatives as well as commitments and              Intelligence Credit Monitoring (iCremo) has been implemented,
contingencies.                                                             namely an application for commercial credit that functions to




616           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                              2023 Annual Report




carry out a commercial credit monitoring process covering              As a follow-up to the implementation of Pillar 1 of Basel II, in
three pillars (Management, Business Prospects, and Collateral).        2023, the Bank implemented credit risk measurement by
Apart from that, the Bank also implemented SPU (MSME Process           using Standardized Approach OJK Circular Letter No. 24/
Center) as an effort to improve the process and management             SEOJK.03/2021 dated October 7, 2021 concerning Calculation
of MSME credit to increase productivity, improve the quality of        of Risk-Weighted Assets (RWA) for Credit Risk using the Standard
centralized and objective credit decisions, as well as centralized     Approach for Commercial Banks.
monitoring. In supporting the strengthening of commercial and
SME credit risk management, the Risk Management Work Unit              In order to manage credit risk, the Bank has applied the Four
has developed systems such as the SME Credit Scoring Model             Eyes Principle by segregating credit risk functions and business
and the Early Warning System for Commercial and Corporate              units. Commercial credit decisions consist of Commercial Risk
credit.                                                                and Business Units as Risk Taking Units and first line as well as
                                                                       consumer credit decisions consisting of the Retail Risk Division
For consumer loan, the process of controlling credit risk is carried   (Regional Loan Processing Center) and Branch Offices and
out through the Consumer iLoan system which is equipped with a         Regional Offices.
Credit Scoring Model (CSM) which is currently being developed
at CSM Bank. The management of Col-2 and NPL consumer credit           This can also be illustrated by the Bank's organizational structure
debtors is carried out by the Consumer Collection, Recovery &          which has segregated the functions of credit risk and risk-taking
Asset Sales Work Unit while for commercial credit is carried out       units as follows:
by the Commercial Asset Management Work Unit.




                                                                           PT Bank Tabungan Negara (Persero) Tbk                    617
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                                                                       Corporate
                                                                       Governance




                                                                                                                 General Meeting of Shareholders



   Sharia
                                                                                                                           President Director
 Supervisory
   Board



                                                                                                                         Vice President Director




                                           Director of                Director
                   Director of                                                                                             Director of Assets            Director
                                          Distribution &            Institutional
                   Consumer                                                                                                  Management                IT & Digital
                                             Funding                  Banking




                                             Wealt                  Institutional    SEVP Wholesale     Marketing           Commercial Asset
                  SME Banking                                                                                                                         Digital Banking
                                           Management                 Funding           Banking       Communication           Management




                                                                                                                               Consumer
                                                                      Financial                                                                         IT Strategic
                 Non Subsidized                                                          Corporate                             Collection,
                                          Retail Funding            Institution &                                                                       Planning &
                   Mortgage                                                               Banking                           Recovery & Asset
                                                                   Capital Market                                                                      Development
                                                                                                                                Sales 1




                                                                                                                               Consumer
                   Subsidized            Service Quality &          Wholesale           Commercial                             Collection,
                                                                                                                                                       IT Operations
                   Mortgage                 Distribution            Transaction          Banking                            Recovery & Asset
                                                                                                                                Sales 2




                                                                                                                             Procurement
                                                                                                                                                     Data Management
                Personal Banking         Regional Offices                                                                    & Fixed Asset
                                                                                                                                                        & Analytics
                                                                                                                             Management


                                        • Branch Office
                                        • Priority Banking



                 Sharia Banking                                                                                                                         IT Security



               • Sharia Branch Office




                             Asset & Liability                IT Steering           Risk Management      Human Capital               Credit Policy
                                Commitee                      Committee                 Committee          Committee                  Committee




                        Committee                          Board                     Business               Support                      Shared Service




618       PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                        2023 Annual Report




                                                                                                                                    Board of
                                                                                                                                  Commissioner




                                                                     Director of
                       Director of          Director of Risk       Human Capital
                        Finance              Management            Compliance &
                                                                        Legal




                                                                                         SEVP Compliance
SEVP Operations                                                                                                                   Audit Committee
                                                                                             & Legal


                                                                                                                                   Remuneration
                                                                                                                                   & Nomination
                                                                                                                                    Committee

                                                                    Human Capital
Credit Operations       Treasury            Retail Credit Risk                                Legal              Internal Audit
                                                                      Strategy                                                    Risk Monitoring
                                                                                                                                     Committee




                       Corporate
  Operation &                               Wholesale Credit        Human Capital         Compliance &            Corporate
                       Strategy &
Business Support                                 Risk                Management            Governance             Secretary
                        Planning




                       Finance &             Enterprise Risk          Leaming                Policy &
 Customer Care
                       Accounting             Management             Management             Procedure




                                             Transformation
                    Investor Relations                              Human Capital
                                              & Patrnership
                        & Reserch                                  Business Partner
                                              Management




     Credit                  Business                  Transformation
                                                                                  ESG Committee
   Committee                Committee                Steering Committee




    Command line             Coordination line




                                                                                  PT Bank Tabungan Negara (Persero) Tbk                     619
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                                                              Corporate
                                                              Governance




Market Risk                                                                Market risk monitoring and control includes evaluating market
                                                                           risk exposure to the Bank's internal limits (Risk Appetite & Risk
Market Risk is the risk on balance sheet positions and                     Tolerance) that have been set and reviewed periodically to
administrative accounts, including derivative transactions, due to         conform to the Bank's conditions. In addition, in order to control
overall changes in market conditions, including the risk of changes        or limit exchange rate risk exposure, the Bank had set limits which
in option prices. Market Risk includes among others interest rate          include treasury transaction limits, dealer limits, budget loss limits,
risk, exchange rate risk, equity risk, and commodity risk which            stop loss/stop gain limits, as well as Net Open Position (NOP)
can be detrimental to the Bank. Market risk can originate from             limits that are in accordance with the maximum limits stipulated in
either the trading book position or the banking book position.             Bank Indonesia Regulation No.17/5/PBI/2015 dated May 29,
                                                                           2015 concerning the Fourth Amendment to PBI Number 5/13/
Market Risk Management                                                     PBI/2003 concerning the Net Open Position of Commercial
As part of market risk management, the Bank conducts market risk           Banks. The Bank had a Market Middle Office unit in the Risk
identification, measurement, monitoring, and control by business           Management Work Unit in carrying out market risk monitoring
units and/or Enterprise Risk Management Division. Market risk              and control, including monitoring of predetermined limits.
identification is carried out for each product or activity that is
included in a new product or activity category. With regard to             As a follow-up to the implementation of Basel II Pillar 1, the Bank
market risk management, the Bank has an Assets and Liabilities             implemented market risk measurement using the Standardized Model
Committee (ALCO) which regularly discusses among other things              in accordance with OJK Circular Letter No. 38/SEOJK.03/2016
interest rates and market risk management at the Bank, especially          dated September 15, 2016 concerning Guidelines for Using the
those originating from the banking book position.                          Standard Method in Calculating the Minimum Capital Adequacy
                                                                           Requirement for Commercial Banks by Taking Market Risk into
In order to measure interest rate risk in the trading book and             Account. The portfolio that was taken into account in determining
banking book positions, the Bank conducted a sensitivity analysis          the CAR for market risk consists of the trading book portfolio for
aimed at measuring the impact of changes in market interest rates          interest rate risk as well as the trading book and banking book
on profit (loss) and bank equity. Meanwhile, in order to measure           portfolio for exchange rate risk. In 2023, the Bank has prepared
exchange rate risk, the Bank conducted a sensitivity analysis              OJK Circular Letter No. 23/SEOJK.03/2022 dated December 7,
aimed at measuring the impact of changes in exchange rates on              2022, concerning Calculation of Risk-Weighted Assets for Market
the Bank's profit (loss). Specifically for the position of the banking     Risk for Commercial Banks which will be implemented starting from
book, the Bank measured interest rate risk in the banking book             January 1, 2024, by carrying out trial calculations and reporting
using the repricing gap method as stated in Directors Circular             to the FSA for Market RWA for June 2023, September 2023, and
Letter No. 22/SE/DIR/ERMD/2021 dated 29 September 2021                     December 2023.
concerning Interest Rate Risk Management in the Banking Book
and Directors Decree No. 27/SK/DIR/ERMD/2021 dated 29                      For the implementation of Basel II, especially Pillar 2, the Bank
September 2021 concerning Instructions for Implementing Interest           submitted a report on the implementation of risk management
Rate Risk Management in the Banking Book. In accordance with               for the Interest Rate in the Banking Book (IRRBB) and a report
the OJK Circular Letter Number 12/SEOJK.03/2018 dated 21                   on IRRBB calculations to the regulator on a quarterly basis in
August 2018 concerning the Implementation of Risk Management               accordance with OJK Circular Letter No. 12/SEOJK.03/2018
and Risk Measurement with the Standard Approach for Interest               dated August 21, 2018 concerning Implementation of Risk
Rate Risk in the Banking Book (Interest Rate Risk in The Banking           Management and Standard Approach Risk Measurement for
Book) for Commercial Banks, the Bank had submitted policy                  Interest Rate Risk in the Banking Book (Interest Rate Risk in The
adjustments related to IRRBB and IRRBB calculation reports in              Banking Book) for Commercial Banks.
accordance with applicable regulations. In the framework of
implementing interest rate risk measurement in the banking book.           The implementation of the Bank’s Basel III was:
The Bank developed an IRRBB policy and has developed an IRRBB              1. Submitting the results of the Liquidity Coverage Ratio (LCR)
measurement system/ application.                                               report to regulators online every month through the OJK
                                                                               Online Reporting Application (APOLO) and the Bank's
As an effort to complement market risk measurement using                       website quarterly in accordance with OJK Regulation No.
standard methods and sensitivity analysis, the Bank conducted                  42/ POJK.03/2015 dated December 23, 2015 concerning
stress testing to assess the Bank's resilience in facing extreme               the Obligation to Fulfill the Liquidity Coverage Ratio for
changes in interest rates and exchange rates, with scenarios                   Commercial Banks.
referring to regulatory provisions and the bank’s internal                 2. Submitting the results of the Net Stable Funding Ratio
scenarios. For internal Bank scenarios, at the beginning of each               (NSFR) report to regulators online every quarter through
year, the Enterprise Risk Management Division coordinates with                 the OJK Regulation Online Reporting Application (APOLO)
the Stress Testing Working Group (relevant Division) to formulate              and the Bank's website in accordance with OJK Regulation
scenarios and assumptions to be used in implementing Market                    No. 50/POJK.03/2017 dated July 13, 2017 concerning
Risk Stress Testing for the next 1 (one) year.                                 the Obligation to Fulfill the Net Stable Funding Ratio for
                                                                               Commercial Banks.



620          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                  2023 Annual Report




Liquidity Risk                                                            liquidity risk, the Bank regularly monitors liquidity risk on a daily,
                                                                          weekly, monthly, and quarterly basis. Liquidity risk monitoring
Liquidity Risk is the Risk resulting from the Bank's inability to meet    by the Risk Management Work Unit is submitted to the Board
its maturing obligations from cash flow funding sources and/or            of Directors and strategy evaluation is submitted to the relevant
from high-quality liquid assets that can be pledged as collateral,        Division.
without disrupting the Bank's activities and financial condition.
                                                                          Monitoring and controlling liquidity risk include evaluating
The inability to obtain cash flow funding sources causing Liquidity       liquidity risk exposure to the Bank's internal limits (Risk Appetite &
Risk may be caused among others by:                                       Risk Tolerance) and predetermined Recovery Plan trigger levels.
1. Inability to generate cash flow from productive assets or from         These limits are reviewed periodically so that they are in line with
    the sale of assets, including liquid assets; and/or                   the Bank's conditions. In addition, the Bank monitors the Early
2. Inability to generate cash flow originating from fundraising,          Warning Indicator (EWI) and reports it regularly to the Board of
    inter-bank transactions, and loans received.                          Directors and related Work Units.


Liquidity Risk Management                                                 In accordance with OJK Regulation No. 14/POJK.03/2017
As a guideline for managing liquidity risk, the Bank has Liquidity        dated April 4, 2017 concerning Action Plans (Recovery Plans)
Risk Management Policy Guidelines, which are part of the                  for Systemic Banks, Bank BTN has been monitoring liquidity
Bank's Risk Management Policy Guidelines. The Liquidity Risk              indicators, one of which is seen from the ratio of LCR and NSFR
Management Policy Guidelines regulate, among other things, the            according to OJK Regulation No. 42/POJK.03/2015 dated
active oversight of the Board of Commissioners and the Board              December 23, 2015 concerning the Obligation to Fulfill Liquidity
of Directors in applying liquidity risk management, the liquidity         Coverage Ratio (LCR) for Commercial Banks and OJK Regulation
risk management process, as well as policies, procedures, and             No. 50/ POJK.03/2017 dated July 13, 2017 concerning the
setting liquidity risk limits. The Bank has an Assets and Liabilities     Obligation to Fulfill the Net Stable Funding Ratio.
Committee (ALCO) which functions to manage liquidity and
periodically discusses the management of liquidity risk in the            Operational Risk
Bank.
                                                                          Operational Risk is the Risk resulting from inadequate and/
Referring to the Liquidity Risk Management Policy Guidelines, the         or non-functioning internal processes, human errors, system
Bank identifies, measures, monitors, and controls liquidity risk.         failures, and/or external events that affect the Bank's operations.
Identification of liquidity risk is basically aimed at knowing the        Operational Risk can originate from HR, internal processes,
amount and trend of liquidity needs as well as available funding          systems, and infrastructure, as well as external events.
sources to meet those needs.
                                                                          These sources of risk can cause events that have a negative
Measurement of liquidity risk in the Bank is carried out by               impact on the Bank's operations so the emergence of these
the Treasury Work Unit and the Risk Management Work Unit.                 types of Operational Risk events is a measure of the success
When measuring liquidity risk, the Company refers to Technical            or failure of Risk Management for Operational Risk. The types
Instructions No. PT.8-F.4 dated August 18, 2023, concerning               of Operational Risk events can be classified into several types
Implementation of Liquidity Risk Management. Liquidity Risk               of events such as internal fraud, external fraud, labor practices
measurement uses 4 (four) methods, namely stock-based, maturity           and work environment safety, customers, products and business
profile analysis, cash flow projections, and stress testing. The          practices, damage to physical assets, disruption of business
stock-based method is used to measure liquidity risk at the Bank          activities and system failures, as well as process and execution
using liquidity ratios, the maturity profile analysis method is used      errors. , including fraud arising from money laundering and
to measure liquidity gaps and cash flow projections are used to           terrorism financing activities.
measure the amount and trend of liquidity needs. The Bank carries
out stress testing using Bank Specific Crisis (BSC) scenarios and         Operational Risk Management
General Market Crisis (GMC) stress testing, the aim of which is to        In order to implement operational risk management, the Bank had
measure the adequacy of available liquid assets and the Bank’s            a Risk and Control Self-Assessment (RCSA System) application.
ability to meet liquidity needs in crisis conditions. s. The Enterprise   This application is an integrated system of several Operational
Risk Management Division in coordination with the Stress Testing          Risk management tools, including RCSA, LED, and KRI.
Working Group (related Division) formulates the risk impact on
scenarios and assumptions that will be used in implementing               RCSA is used to carry out the process of identifying and measuring
Liquidity Risk Stress Testing for the next 1 (one) year.                  operational risks inherent in all Bank work units. In completing
                                                                          the RCSA, all work units are required to be able to identify and
In order to maintain the availability and adequacy of liquid              measure operational risks that are inherent in daily activities and
assets and to control or limit exposure so as not to be affected by       have an impact on achieving the work unit’s targets.




                                                                              PT Bank Tabungan Negara (Persero) Tbk                       621
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LED functions as operational risk data collection for operational       Legal Risk
risk events in Branch Offices based on 7 (seven) types of risk
events in accordance with Basel II provisions. Work Units can           Legal Risk is the Risk resulting from lawsuits and/or weaknesses
send data on losses due to operational risks (loss events) online       in juridical aspects. Legal risk can originate, among others, from
whenever there is a risk event in their Work Units. The output          weaknesses in the juridical aspect caused by weak agreements
from this LED is data on accumulated bank losses in one month           made by the Bank, the absence and/or changes in laws and
in the form of actual loss, near miss, and potential loss for each      regulations that cause a transaction that has been carried out
risk event. The results of the collected data will be processed and     by the Bank to be not in accordance with the provisions, and
analyzed so that operational risk exposure maps for each work           litigation processes whether arising from third party lawsuit
unit can be identified. This exposure map become a reference            against the Bank or the Bank against a third party.
in mitigating the occurrence of similar incidents by improving
business processes or adding other forms of risk mitigation.            Legal Risk Management
                                                                        Legal Risk Identification is carried out on the factors that cause
KRI is a dashboard for monitoring risk trends based on indicators.      risk including the existence of lawsuits and weaknesses in
KRI can be used to detect predictive or lagging risks as input for      the juridical aspects inherent in functional activities of credit
preventive or corrective action.                                        (provision of funds), treasury and investment, operations and
                                                                        services, information system technology and MIS, and human
The Bank implemented a Business Continuity Management (BCM)             resource management.
policy to ensure the continuity of the Bank's operations in running
the business after being affected by operational risks originating      Measurement of Legal Risk is carried out by the Risk Management
from external factors such as natural disasters, social conflicts,      Work Unit in coordination with the Legal Work Unit and the Credit
and IT system failures. The BCM policy contains systematic steps        Operational Work Unit. Based on measurements made by the
and guides employees in dealing with emergencies, starting from         Legal Work Unit, an evaluation report on the analysis of individual
pre-disaster preparedness, disaster response, and operational           legal cases for contingent liabilities arising from lawsuits that
continuity plans to return to normal conditions. In supporting the      occurred was obtained, while from the Credit Operational Work
successful implementation of BCM, the Bank carried out several          Unit, the quality level of credit document engagement (LAT) was
activities including:                                                   obtained. Indicators/parameters used in measuring Legal Risk,
1. Updating internal regulations related to Business Continuity         include potential losses due to lawsuits, weakness in engagement
    Management (BCM) on a regular basis which clearly defines           due to the non-fulfillment of legal terms of the agreement, and
    the roles and responsibilities of each Work Unit.                   changes in laws and regulations that cause the Bank's products
2. The process of internalizing all employees by compiling              to be inconsistent with existing provisions.
    socialization materials and conducting quizzes that are
    included in the Risk Awareness culture program                      Legal Risk Monitoring is carried out by the Risk Management
3. Conducting an assessment of the availability of Working              Work Unit by evaluating the effectiveness of the implementation
    Remote Areas (WRA) by involving critical work units, so             of policies, procedures and compliance with policies, legal
    that the WRA owned by the Bank has an adequate level of             regulations and Bank limit provisions. Monitoring is carried out
    readiness to support operational activities when a disaster         periodically for all Legal Risk positions. In carrying out Legal
    occurs.                                                             Risk control, the Legal Work Unit provides legal input and
                                                                        recommendations to each division and work unit and conducts
As an effort to improve the monitoring function of operational          periodic reviews of cooperation agreements and contracts with
risk control in operational activities at Branch Offices, Regional      counterparties. In addition, the Bank has a Legal Application
Offices, and Commercial Business Centers (CBC), officers had            System (LApS) application which is designed in the form of a
been assigned to Business Branch Control (BBC), Regional                website and is used as a register and monitoring of legal cases
Business Control (RBC), and CBC BC (Commercial Business                 that occur or are handled by the Bank, both criminal and non-
Center Business Control) which functions as a 1.5 line of defense       criminal, so that every case that is happening, both at the branch
in coordination with the Risk Management Work Unit. As part             and progress can be monitored at the Head Office.
of the Bank's internal control system to build a culture of risk
awareness at all levels of the Bank's organization, the General         The Bank placed employees at Branch Offices as Branch Legal
Policy on Anti-Fraud Strategy has been updated.                         Representatives (BLR) who have duties and responsibilities as
                                                                        follows:
                                                                        1. Provide legal assistance for litigation issues submitted by each
                                                                             work unit in the context of implementing Bank operations and
                                                                             provide legal assistance in every legal case.




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2. Represent the Bank in carrying out proceedings in the Court,           Compliance Risk
   Police, Prosecutor’s Office, other legal institutions, and
   outside the court in its work area.                                    Compliance Risk is the risk caused by the Bank for not complying
3. Provide legal opinions on legal issues submitted by Regional           with and/or not implementing the applicable laws and regulations,
   Offices, Branch Offices, and Sharia Branch Offices related to          such as credit risk related to the Minimum Capital Requirement
   operations in their work areas.                                        (KPMM), Earning Asset Quality, Establishment of CKPN, Legal
4. Provide legal consultations on legal issues submitted by               Lending Limit (BMPK), market risk related to the provisions of the
   Branch Offices and Sharia Branch Offices.                              Net Open Position (NOP), strategic risk related to the provisions
5. Perform legal watch functions in accordance with Regulatory            of the Annual Work Budget Plan (RKAT), and other risks related
   provisions.                                                            to certain provisions. Compliance risk can also originate, among
6. Manage and control legal risks within the scope of work.               other things, from legal behavior, namely behavior or activities of
                                                                          the Bank that deviate from or violate the provisions and/or laws
Strategic Risk                                                            and regulations, and organizational behavior, namely behavior
                                                                          or activities of the Bank that deviate or conflict with generally
Strategic Risk is the risk due to inaccuracy in making and/or             accepted standards.
implementing a strategic decision and failure to anticipate
changes in the business environment. Strategic risk can originate,        Compliance Risk Management
among other things, from weaknesses in the strategy formulation           The management of the Bank's compliance risk is carried out
process and inaccuracies in strategy formulation, inadequate              by the Risk Management Work Unit in coordination with the
management information systems, inadequate internal and                   Compliance and Governance Division/CMGD. The Compliance
external environmental analysis results, overly aggressive                Work Unit monitors the Bank's report submission obligations to
strategic goal setting, inaccuracy in strategy implementation, and        external parties and reviews internal regulations periodically and
failure to anticipate changes in the business environment.                continuously so that they remain relevant to applicable external
                                                                          regulations. The Bank has an internal application, namely the
Strategic Risk Management                                                 Regulatory Compliance & Monitoring System (CRMS), to make it
Strategic Risk identification is carried out based on Strategic Risk      easier for all BTN employees to access all external regulations and
factors in certain functional activities, such as credit, treasury, and   to function as a reminder to work units on the obligation to submit
investment activities as well as operations and services through a        reports to Regulators. To minimize the potential for compliance
business plan prepared by the Corporate Strategy & Planning Work          risk, the Bank placed Regional Compliance Supervisory Officers
Unit as an elaboration of General Policies stipulated by the Board        (RCSO) in Regional Offices to evaluate the compliance level
of Directors.                                                             of Branch Offices in carrying out operational activities. Along
                                                                          with the enactment of the Personal Data Protection Act, the
Strategic Risk measurement is carried out based on the                    Compliance Work Unit formed a Data Privacy sub-unit, and a
achievement of the Bank's performance by comparing actual                 gap analysis on the readiness of the Bank in implementing the
results with predetermined targets. Strategic Risk Monitoring is          said provisions had been carried out. The Compliance Work Unit
carried out by the Corporate Strategy & Planning Work Unit on a           monitors and reports compliance risk that occurs to the Bank's
regular basis by monitoring the achievement of Key Performance            Directors on a regular basis. Compliance Risk measurement is
Indicators (KPI) and the Risk Management Work Unit which                  carried out on potential losses caused by non-compliance and the
monitors risk exposure compared to the Bank's risk appetite               Bank's inability to comply with applicable external regulations.
and monitors Risk Appetite and Risk Tolerance of the Strategic            The indicators/ parameters used in measuring Compliance Risk
Risk on a monthly basis. Then, the Board of Commissioners,                include the type, the significance, and the frequency of violations
Directors, and Work Units review the basic strategy with a focus          against applicable regulations or the track record of bank
on business transformation, infrastructure, and Human Resources           compliance, the behavior underlying the violation, and violations
as well as review risk appetite and risk tolerance regularly and          of generally accepted standards.
at least once a year.
                                                                          In order to control Compliance Risk, the Risk Management
Furthermore, the Risk Management Work Unit monitors Strategic             Work Unit and the Compliance Work Unit were assigned with
Risk by comparing expected results with actual results, evaluating        evaluating the effectiveness of the implementation of Compliance
work unit performance, and ensuring target achievement. In                Risk management by periodically monitoring all types of activities
controlling Strategic Risk, the Corporate Strategy & Planning             that have the potential to cause Compliance Risk.
Work Unit functions to analyze gaps between actual reports and
business plan targets and submit corrective steps that must be
taken to the Board of Directors on a regular basis.




                                                                              PT Bank Tabungan Negara (Persero) Tbk                   623
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Reputation Risk                                                           The Reputation Risk Measurement is performed according to the
                                                                          results of an assessment of the factors affecting the Company’s
Reputation Risk is the Risk resulting from a decrease in the              reputation, including customer complaints and reporting about
stakeholder trust level originating from a negative perception            the Company. The Bank’s Reputation Risk is managed by the
of the Bank. Reputation Risk can originate from various Bank              Corporate Secretary Division (CSD) work unit that manages news
business activities as follows:                                           about the Company which is published in the print and electronic
1. Events that have damaged the Bank's reputation, for example,           mass media and the Service Quality & Network Division (SQND)
    the influence of the reputation of the owner of the Bank and          who manages complaints from the customer.
    related companies, product complexity and Bank business
    cooperation, negative publicity about the Bank, violations of         In order to monitor Reputation Risk and ensure customer
    business ethics, and customer complaints.                             satisfaction, the Company’s SPN (Customer Complaints
2. Other matters that may lead to Reputation Risk, for example,           System) functions to support the management of services and
    weaknesses in governance, corporate culture, and business             online customer complaint handling between parties regarding
    practices of the Bank.                                                problems in Branch Offices and Headquarters. Reputation Risk
                                                                          monitoring is also conducted by the Enterprise Risk Management
Reputation Risk Management                                                Division (ERMD) by reminding and providing recommendations
All employees, including business unit management and                     for improvement to the Reputation Risk Management Division of
Bank supporting activities, are part of the Risk Management               CSD and SQND according to the assessment of reputation risk
implementation for Reputation Risk, considering that reputation           profile parameters.
is the resul of all of the Bank’s business activities. The role of
the Business Unit Management is to identify the Reputation Risk           Strengthening the Implementation of risk Culture
that occurs in the business activity and/or activities of the unit
and as a front liner in developing and preventing Reputation              Strengthening the implementation of risk culture as part of
Risk, scpecifically related to customer relationshops. Reputation         maintaining commitment and ensuring that the risk culture policy
Risk identification is conducted on risk factors inherent in certain      is understood and implemented by all management and employes
functional activities, such as credit provision (provision of funds),     of the Bank, so the risk culture implementation strategy must be in
fund raising, treasury and investment, operations and services,           line with the Bank's risk management implementation strategy. The
information technology systems and MIS, and Human Capita.                 Bank determines a risk culture implementation roadmap per year
                                                                          according to the level maturity to be achieved, monitoring the
In the process of reputation risk identification, the Company has         implementation of risk culture by measuring the maturity level of risk
a SPN (Customer Complaints System) application and monitors               culture at least once a year by the internal team and once every
all mass media (print and electronic, boh local and national).            three years by an independent team (external party). The Bank
The Company records every report regarding the Company,                   reviews its risk culture policy at least once a year. Several programs
both directly (straight news) and indirectly (mention). The SPN           for implementing and improving the Bank's risk culture are:
application is integrated with the Head Office, Regional Offices,         1. The Risk Economic Outlook is an annual routine agenda
Conventional and Sharia Branch Offices. Service Quality and                    which discusses strategies for determining risk appetite and
Netwok Division (SQND), as the manager of SPN will follow-up                   risk tolerance. This forum aims to provide an understanding of
on customer complaints and resolve in accordance with the SLA                  risk awareness to the Board of Commissioners and Directors
that has been set.                                                             so that they can make the right strategic decisions.
                                                                          2. The Bank actively conducts Portfolio Quality Review Forums
                                                                               attended by Directors, Divisions, CBC, Branch Offices as
                                                                               an effort to provide the latest picture of credit position and
                                                                               quality both bankwide and per credit segmentation.




624          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                         2023 Annual Report




3. Conduct visits and awareness in the context of implementing data cleansing to improve the quality of the loss event database at Bank
   BTN.
4. Fostering a culture of compliance, this activity is carried out with an approach through the implementation of each business process
   which must always be guided by applicable internal and external rules and regulations as well as SOPs.
5. Implementing continuous prevention so that there are no significant weaknesses in the first line defense process and making corrective
   action plans in coordination between the Risk Management Work Unit and the Internal Audit Work Unit.
6. Strengthening operational risk control through various activities such as seminars, workshops, risk outlook and culture days.
7. The Bank has an operational risk control system throughout the Bank's network. The Bank has implemented awareness regarding the
   use of the ORMIS application as a form of implementing risk management throughout the branch office network.
8. Carrying out risk awareness of potential fraud vulnerabilities through Fraud Risk Assessment (FRA) within the scope of all Work
   Units. The FRA method is carried out based on OJK Circular Letter No. 39/POJK.03/2019 concerning Implementation of Anti-Fraud
   Strategy which is described as follows:



                                                                         4 Pillars of Anti-Fraud Strategy


                                 Detection                                                                                             Investigation

                                                                                                            Information, Evidance, Document, Sanctions
   Identify and Find Fraud Events                                                                           Special Audit, Event Flow, Documentary Evidence,
   Whistleblowing, Surprise Audit, Surveilance System/FDS
                                                                                                            Violation of SOP, Reporting of Incidents



                                                                                     4 Pilar
                                                                                      SAF
                                Prevention                                                                                               Evaluation

   Reduce the potential for fraud to occur                                                                  Monitoring - Evaluation -TL
   Corporate Culture Program, RCSA, FRA, KYE, Awareness,                                                    Monitor and evaluate
   Potential Vulnerabilities, Internal Control, Supervision                                                 fraud incidents and TL improvements




Risk Assessment

In accordance with the Regulation of OJK Regulation No. 18/POJK.03/2016 dated March 16, 2016, concerning the Implementation of
Risk Management for Commercial Banks and Circular Letter of OJK Circular Letter No. 34/SEOJK.03/2016 dated September 01, 2016
concerning the Implementation of Risk Management for Commercial Banks, Risk Management Division shall report the risk profile to OJK
quarterly containing information about Credit Risk Exposure, Market Risk, Liquidity Risk, Operational Risk, Compliance Risk, Strategic
Risk, Legal Risk, and Reputation Risk. The assessment of the risk profile covers the assessment of the Inherent Risk and the Quality Rating
on the Implementation of Risk Management in Bank’s operational activities.


Taking into account the results of self-assessment, the Company strives to maintain the Risk Profile Quarter IV 2023 to be in Low to
Moderate level. The probable loss encountered by the Bank in terms of the Inherent Risk is considered low (Low to Moderate), with a
Satisfactory rating for the Quality Rating on the Implementation of Risk Management. Details are listed as follows:


                                                                                                Quality Rating on the
              Types of Risk                                   Inherent Risk Rating             Implementation of Risk                                 Risk Rating
                                                                                                   Management

 Credit Risk                                                    Low to Moderate                      Satisfactory                                  Low to Moderate

 Market Risk                                                    Low to Moderate                      Satisfactory                                  Low to Moderate

 Liquidity Risk                                                 Low to Moderate                      Satisfactory                                  Low to Moderate

 Operational Risk                                               Low to Moderate                      Satisfactory                                  Low to Moderate

 Legal Risk                                                     Low to Moderate                      Satisfactory                                  Low to Moderate

 Strategic Risk                                                 Low to Moderate                      Satisfactory                                  Low to Moderate

 Compliance Risk                                                Low to Moderate                      Satisfactory                                  Low to Moderate

 Reputational Risk                                              Low to Moderate                      Satisfactory                                  Low to Moderate




                                                                                                PT Bank Tabungan Negara (Persero) Tbk                                625
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Review of The Effective Risk Management System of                        Company’s risk management policies guideline and its actual
Issuer or Public Company                                                 implementation, as well as monitoring and evaluating the Risk
                                                                         Management Committee’s performance. In executing its duties
The Risk Profile Assessment in Bank BTN, both Conventional and           and responsibilities, the Risk Monitoring Committee holds
Sharia during 2023 reflects that risks faced by Bank BTN (both           periodic coordination with the Enterprise Risk Management
conventional and sharia) can be well-managed so it can support           Division to discuss current issues, the Company’s quarterly risk
sustainable business development. In short, Risk Management              profile, bank soundness rate, recovery plan, and issues related
has been applied by Bank BTN effectively and correctly. The              to the Company’s risk management, including review of Risk
evaluation result of effective Risk Management of Bank BTN in            Management Policies Guideline which contains the Company’s
2022 by external parties (consultants) through the Risk Maturity         Risk Appetite and Risk Tolerance.
Index (RMI) is in the Managed rank with criteria complying with
applicable provisions of regulation related to risk management,          Risk Management Committee
and activities. During 2023, improvements have been made                 The Risk Management Committee (KOMAR) is responsible for
to the implementation of risk management in accordance with              providing recommendations to the President Director with regards
recommendations from the results of the Risk Maturity Index (RMI)        to the risk associated with the policies that will be stipulated by the
carried out by independent parties so that the implementation of         Board of Directors, as well as evaluating provisions that are deemed
Risk Management continues to improve and is standardized in              to be less suitable with current development and that require
each work unit and risk management has become part of Bank               adjustment. KOMAR is actively participating in assessing the risks
BTN's work processes and culture.                                        associated with individual new products and/or services/activities,
                                                                         thus allowing the Company to take necessary mitigation measures as
Statements of the Board of Directors and/or the                          well as to evaluate the Risk Management Policy Guideline (KUMR).
Board of Commissioners or Audit Committee to Risk
Management System Adequacy                                               Risk Management Task Force
                                                                         The Risk Management Unit is a work unit that directly reports
The Internal Control System conducted by Bank BTN has                    to the Director, overseeing the Risk Management function, and
effectively operated and sufficiently reflected from the effective       operates independently from the Operational Units, which
implementation of internal control functions, which are internal         are risk-taking units, as well as the Internal Audit Unit and the
audit, risk management, compliance, financial and operational            Compliance Unit.
control. The Bank’s risk governance is based on Good Corporate
Governance principles and the involvement of the Bank’s entire           The Risk Management Work Unit is led by a Division Head
organs in risk management. This is evident in the structure              who reports directly to the Risk Management Director. The
of the Bank’s risk management organization. The Board of                 Risk Management Work Unit consists of the Enterprise Risk
Commissioners through Risk Monitoring Committee and the                  Management Division and the Digital & Operations Risk
Board of Directors through the Risk Management Committee                 Management Division.
meetings are responsible for ensuring that the implementation
of Risk Management is adequate and in accordance with the                Risk Management Policies and Procedures
Bank’s characteristics, complexity, and risk profile. Based on           The Bank has had management policies in risk management,
the results of the review that has been carried out, the Board of        which are Risk Management General Policy (KUMR), which
Directors and the Board of Commissioners consider that the risk          contains the minimum provisions required by the Regulation of
management system has been implemented adequately.                       Bank Indonesia/Financial Services Authority.


The Board of Commissioners and the Board of Directors are                The policy guidelines in the field of risk management have also
actively participating in mitigating the Company’s risks by              been complemented with its internal derivative policie, including
monitoring Risk Management Implementation Quality, which                 but not limited to Guides for Implementation of Bank Risk
includes risk governance, risk management framework, risk                Profiles Reporting and Assessment, Implementation of Reporting
management process, adequacy of risk management information              and Assessment of Bank Health Levels, Risk Model Validation
system and human resources, as well as the adequacy of                   Procedures, Guidelines for Implementing Risk Data Collection
the internal control system. The adequacy of the Bank’s Risk             for the BTN-Loss Event Database (BTN-LED Tool) Application,
Management System is supported by:                                       Instructions for Implementing the Liquidity Risk Measurement
                                                                         Process, Implementation Instructions Calculation and Reporting of
Risk Monitoring Committee                                                Liquidity Coverage Ratio, Instructions for Implementing the Market
The Risk Monitoring Committee has the duty and responsibility            Risk Measurement Process, Interest Rate Risk Management in the
of providing recommendations to the Board of Commissioners,              Banking Book, Instructions for Implementing Stress Testing, Risk
i.e. by evaluating the Company’s risk management policy                  Model Validation Procedures, Liquidity Monitoring Guidelines,
guidelines (credit risks, market risks, liquidity risks, operational     Risk Management Policy Guidelines (PKMR), Risk & Control Self
risks, legal risks, strategic risks, compliance risks, and               Assessment, Instructions for implementing action plans (Recovery
reputation risks), evaluating the conformance between the                Plan), Risk Culture, Guidelines and Risk Profile Assessment for



626         PT Bank Tabungan Negara (Persero) Tbk
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Branch Offices and Sharia Branch Offices, Internal Credit Rating               Internal Audit Report
(ICR) Process, Instructions for Implementing the Credit Scoring
Model (CSM) Process, Credit Authority Limits Commercial and                    The Internal Audit Report has been explained in the Internal Audit
Consumer Credit, Instructions for Implementing the Calculation of              Function Subheading of the Corporate Governance Chapter in
Allowance for Impairment Losses (CKPN), The Policy Guidelines                  this Annual Report
for debtors affected by COVID-19, Business Continuity
Management (BCM), Standard Operating Procedure (SOP)                           Compliance Function
Business Continuity Plan (BCP), Standard Operating Disaster
Recovery Plan (DRP) dan Standard Operating Business Impact                     The banking industry is growing increasingly complex along with
Analysis (BIA).                                                                the growth of global information technology and integration of
                                                                               the financial market. With intense business competition among
Re-assessment of internal policies has also been conducted to                  banks, this comes as a particular challenge that the Company
align with the most current provisions from relevant regulators,               needs to address. As such, it is necessary to enforce the principle
i.e. by conducting gap analysis and accommodating best                         of carefulness and take measures to mitigate risks associated
practices commonly applied in the banking industry in order                    with the Bank’s business activities, both preventive (ex-ante) and
to improve the quality of the application of risk management.                  curative (ex-post) measures. Ex-ante measures may be taken by
The Risk management information system at the initial phases                   complying with the applicable banking principles in order to
was focused on the collection and improvement of risk database                 reduce or minimize risks in the Company’s business activities.
quality to allow gradual development and application into the risk
management information system, thus allowing integrated risk                   The Company has always consistently executed its compliance
measurement and risk monitoring as well as timely presentation.                function, i.e. a set of preventive actions or measures. This is taken to,
                                                                               among others, achieve compliance culture across all organizational
                                                                               levels and all business activities in the Bank, manage compliance
                                                                               risks and ensure the Company’s compliance with the Financial
                                                                               Services Authority or other relevant supervisory authorities.


Organizational Structure


                                                               Compliance & Governance
 L1
                                                                       (CMGD)

                     Secretary


              Compliance
 L2                               Compliance Analysis      Corporate                AML Advisory &         AML Transaction &        Compliance Credit
               Regulatory
                                     & Advisory           Governance                   System                  Analysis                Consulting
              Management

                Compliance             Compliance          Governance
                                                                                        Strategic &           Financial Group
               Regulatory and        Advisory Quality    Support - Structure
                                                                                       Development          Transaction Analyst
                  Strategic             Assurance             Policy


                                      Compliance                                                                 Suspicious
                 Regional                                   Governance               Business Aligment
                                    Advisory Business                                                          Transaction &
 L3             Compliance                                   Process                    & Advisory
                                      & Operation                                                               Investigation
  /
 L4
               Compliance
                                                            Governance                 MIS & System
              Monitoring and          IT Compliance                                                         Transaction Analyst
                                                             Analyst                   Development
               Perfomance


                                                                                                               Assurance &
      (*) can have layer 4 (L4)        Data Privacy
                                                                                                               Reporting (*)




The organizational structure for implementing the Compliance Function is established based on the Technical Guidelines Number PT.3-A.6
dated September 14 2023, regarding the Organizational Structure of the Head Office, Regional Offices, and Branch Offices. and referred to
OJK Regulation No. 46/POJK.03/2017 dated July 12th, 2017 on the Implementation of Compliance Function in Public Banks and has also
been set out in the Company’s internal policy, which contained the following provisions:
1. Board of Commissioners is responsible for actively supervising the implementation of the Company’s Compliance Function.
2. Board of Directors is responsible for fostering and realizing the implementation of compliance culture across all organizational levels and
    business activities in the Company, as well as ensuring the implementation of compliance function at the Company.



                                                                                   PT Bank Tabungan Negara (Persero) Tbk                         627
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                                                          Governance




3. Director of Compliance is a member of the Board of Directors        Board of Commissioners of Banks, Director of Compliance may
   who has been authorized by the Financial Services Authority to      begin executing Compliance Function duties upon approval from
   lead the Compliance Function and Compliance Task Force at           OJK. Mr. Eko Waluyo has passed the Fit and Proper Test for
   the Company, and is responsible for formulating strategies to       Director of Compliance and has received formal approval from
   encourage the realization of compliance culture across the Bank     OJK on August 09, 2021.
   and is also responsible for the performance of duties in order
   to ensure that the Company’s Compliance Function operates           Duties and Responsibilities of Lead Director
   properly.                                                           of Compliance Function
4. Compliance and Governance Division is a Work Unit at the
   Head Office that serves as the Compliance Task Force for the        The duties and responsibilities of the Compliance Director in
   Company and is responsible for implementing Compliance              carrying out the Compliance function include the following:
   Function duties across the Company.                                 1. Formulate strategies to encourage compliance culture.
                                                                       2. Propose compliance policies or compliance principles to be
Lead Director of Compliance Function                                       stipulated by the Board of Directors.
                                                                       3. Stipulate compliance system and procedures to be
The Director who leads the Company’s Compliance Function                   implemented to develop the Bank’s internal provisions and
is the Managing Director of Compliance and Legal Affairs.                  guidelines.
Appointment, dismissal, and/or resignation of the Lead Director        4. Ensure that all policies, provisions, systems, procedures,
of Compliance Function has been set out and shall follow the               and business activities operated by the Bank comply with
procedures below:                                                          the provisions of the Financial Services Authority, Bank
1. Appointment, dismissal, and/or resignation of the Lead                  Indonesia, and other applicable laws and regulations,
    Director of Compliance Function is specified in reference              including Sharia principles.
    to the provisions for an appointment, dismissal, and/ or           5. Manage and minimize compliance risks.
    resignation of the member of the Board of Directors as             6. Take preventive measures so that policies and/or decisions
    specified in Bank Indonesia’s regulations applicable to public         made by the Company’s Board of Directors do not deviate
    banks, and should pass a fit and proper test in accordance             from the provisions of the Financial Services Authority, Bank
    with the applicable provisions of the Financial Services               Indonesia, and applicable laws and regulations, including by
    Authority.                                                             providing a dissenting opinion in the event of policies and/
2. In the event the Director of Compliance is temporarily unable           or decisions deviating from the provisions of Financial Services
    to perform his/her assigned duties, the performance of such            Authority, Bank Indonesia, and applicable laws and regulations.
    duties shall be temporarily delegated to other Director(s) up      7. Perform other duties related to Compliance Function,
    to the Lead Director of Compliance resuming his/her normal             including monitoring and maintaining the Company’s
    duties.                                                                compliance with the commitment that the Company has
3. In the event the Lead Director of Compliance Function resigns           made to Financial Services Authority, Bank Indonesia, and
    or concludes his/her tenure, the Company shall immediately             other relevant supervisory authorities.
    appoint a new Lead Director of Compliance Function. During         8. Ensure that the Company’s Compliance Task Force performs
    the vacant period, another Director shall be appointed                 effectively in executing Compliance Function duties.
    temporarily handle the duties of the Lead Director of the          9. Coordinate with Sharia Supervisory Board regarding the
    Compliance Function.                                                   implementation of the Compliance Function of the Sharia
4. In order to satisfy independence requirements, the Director             Business Unit in accordance with Sharia principles.
    who serves as the Lead Director of the Compliance Function         10. Act as a coordinator for the stipulation of Compliance
    should not have a double role as President Director and/               Function to all business units to achieve good corporate
    or other directorial positions that may impair his/her                 governance.
    independence.
5. Any replacement of the position of Lead Director of                 Compliance Task Force
    Compliance Function shall always be reported to the
    Financial Services Authority.                                      The role of the Company's Compliance Work Unit as regulated
                                                                       in OJK Regulation No. 46/POJK.03/2017 dated July 12, 2017
The 2021 GMS held on March 10, 2021, appointed Eko Waluyo              concerning the Implementation of Commercial Bank Compliance
as the Director of Compliance and Legal Affairs in accordance          Functions carried out by the Compliance and Governance
with OJK Circular Letter No. 39/SEOJK.03/2016 dated                    Division, as regulated in the Minutes of Directors' Meeting
September 13, 2016, on Capability and Fitness Assessment               Number 15 dated May 30, 2022 regarding Organizational
for Candidates for Controlling Shareholders, Candidates for            Changes. The Compliance and Governance Division (CMGD)
Members of Board of Directors and Candidates for Members of            is under coordination Director who oversees the Compliance




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                                                                                             2023 Annual Report




Function and is separate from the business and operational            2. Possessing a deep understanding of the provisions of the
units, the risk management unit which makes decisions on the             Financial Services Authority, Bank Indonesia, and other
Company's business activities, the treasury unit, the finance and        applicable laws and regulations.
accounting unit, the logistics unit and procurement of goods/         3. Not performing other duties beyond Compliance Function.
services and other units managing information technology.             4. Highly committed to implementing and fostering a compliance
                                                                         culture.
The Compliance and Governance Division is led by a Division
Head who has satisfied the specified criteria as the head of          Profile of Head of Compliance Task Force
Compliance Function Task Force, as specified in OJK Regulation
No. 46/POJK.03/2017 dated July 12, 2017, on Implementation            Direksi Perseroan telah menetapkan R. Wahju B. Witjaksono
of Compliance Function for Public Banks. Appointment and/or           sebagai Kepala Satuan Kerja Kepatuhan Perseroan terhitung
dismissal of the Head of Compliance and Governance Division           mulai tanggal 10 Desember 2018 berdasarkan Surat Keputusan
shall always be reported to the Financial Services Authority in       Direksi No. 1037/DIR/2018 tanggal 10 Desember 2018.
accordance with the criteria specified in compliance related to       Penunjukan R. Wahju B. Witjaksono sebagai Kepala Satuan Kerja
internal policies, as follows:                                        Perseroan telah dilaporkan kepada Otoritas Jasa Keuangan.
1. Satisfying independence requirements as set out in the
     provisions of the Financial Services Authority.


                                                             Educational background
                                                             • Bachelor of Accounting (Undergraduate), Padjajaran University,
                                                               Indonesia (1993)
                                                             • Master of Management (Graduate), Universitas Gadjah Mada,
                                                               Indonesia and University of Kentucky, USA (2004)

                                                             Work experience
                                                             •   System Development Audit Dept Head, Bank BTN (2004-2007)
                                                             •   Senior App Development-Business Analyst, Bank BTN (2011-2014)
                                                             •   Deputy Internal Audit Division Head, Bank BTN (2018)
                                                             •   Compliance and Governance Division Head, Bank BTN (December
                                                                 2018-present)
R. Wahju B. Witjaksono
Head of Compliance Task Force                                Legal Basis for Appointment
                                                             Decree of the Board of Directors No. 1037/DIR/2018 dated December
Indonesian citizen, 53 years old,
domiciled in Tangerang, Banten.
                                                             10th, 2018. Appointment R. Wahju B. Witjaksono as Head of Compliance
                                                             Task Force.

                                                             Certification
                                                             • Refreshment of Level 4 Risk Management Certification dated April 9, 2022
                                                             • B20 Indonesia Integrity and Compliance Task Force Conference:
                                                               Fostering Agility to Combat Money Laundering and Economic Crime
                                                               Organized by ICAW, dated September 28, 2022



Duties and Responsibilities of Compliance Function

The duties and responsibilities of the Compliance and Governance Division in executing compliance function is as follows:
1. Develop measures to encourage the realization of compliance culture across all business units in the Company and across all
    organizational levels.
2. Coordinate with other units in performing identification, measurement, monitoring, and control of compliance risks in reference to
    the provisions of the Financial Services Authority on the Implementation of Risk Management for Public Banks.
3. Assess and evaluate the effectiveness, adequacy, and conformance of policies, provisions, systems, or procedures implemented in
    the Bank to the applicable laws and regulations.
4. Review and/or provide recommendations on update and refinement of policies, provisions, systems, or procedures implemented in
    the Company to maintain conformance to the provisions of the Financial Services Authority, Bank Indonesia, and other applicable
    laws and regulations, including sharia principles.




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                                                            Governance




5. Take necessary measures to ensure that all policies, provisions,          e. Ensure the implementation and results of self-assessment
   systems, procedures, and business activities operated by the                 of corporate governance based on regulations of OJK in
   Bank comply with the provisions of the Financial Services                    the Holding entity, Subsidiary, the Sharia Business Unit in
   Authority, Bank Indonesia, and other applicable laws and                     Bank BTN to ensure the Company’s quality process.
   regulations.                                                              f. Ensure the assessment of good corporate governance
6. Perform other duties related to Compliance Function,                         implementation by third parties/independents in terms of
   including:                                                                   achieving the Company’s goal.
   a. Ensure the Company’s compliance with the commitment                    g. Ensure Operational and Reporting Management related to
        made to the Financial Services Authority and/or other                   the Implementation of AML and PPT in the Central Office.
        relevant supervisory authorities.
   b. Conduct socialization for all employees regarding                  Compliance Function’s Competencies Development
        matters related to Compliance Function, particularly in
        terms of applicable regulations from relevant regulators.        The Company conducts a development program for compliance
   c. Act as a contact person for compliance issues for both             function’s employees to satisfy the competency and expertise
        internal and external parties.                                   sustainably required with education or training methods. Each
   d. Ensure business process in Compliance Task Force has               employee provides an equal opportunity to follow this development
        been in accordance with the certification standard ISO           program adjusted to the needs of the position’s basic and technical
        9001:2015.                                                       competencies. The competencies that have been followed by the
                                                                         compliance function’s employees are as follows:



                                                         Total                                                                   Total
            Education and Training Types                                             Education and Training Types
                                                      Participants                                                            Participants

 Classroom / Virtual Classroom                                            Workshop ESG Bank BTN                                    1

 BTN Leadership Forum 2023                                 1              Workshop Team HCCL 2023                                  8

 BTN Millenial Leaders 2023                                1              Optimize Selling for Consumer Staff                      1

 Data Analytics and Data Presentation                      2              Refreshment of LHPK Payment System Material              1

 Digital Talent ForDigi                                    2              Leading with Impact: Strengthening Your                  1

 Global GRC Benchmarking Series5 - Europe                  1              Pendidikan General Banking Staff                         1

 Training on Identification of Suspicious Financial                       Presentation Design & Data Visualization                 1
                                                           9
 Transactions
                                                                          Project Management Training                              4
 Impactful Presentation Skill                              3
                                                                          Communication Skills Training                            4
 Internal Audit Debriefing Workshop 2023                   1
                                                                          Implementation of the 2023 APU PPT & PPPSPM
 MOOC Linkedln Learning 2023                               3                                                                       2
                                                                          Program

 ESG Implementation Training                               4              Greenship Associate Training                             3

 ASEAN CG Scorecard In-depth Training                      6              Branch Visit Evaluation of Compliance Culture            3

 Practical Microsoft Excel                                 2              Internalization of APU PPT & PPPSPM                      3

 Talent Development Program (Leadership)                   2              Workshop Corporate Governance (IICG)                     3

 Talent Development Program (Technical)                    2              Pension Fund Seminar                                     1

 KPK Young API Certification in 2023                      18              Supervisory Development Program (Onsite)                 1

 Webinar - Improving Bank Collaboration                    8              Integrity Builder Expert Certification                   4

 Webinar - Utilization of Big Data Analysis                1              HCBP Training-The Cycle of HC Practices                  1

 Webinar Anti Money Laundering in Digital                  1              Cyber Prevention & Handling Workshop                     5

 APU PPT Webinar "Awareness of TPPU Mode"                 19              COBIT Training 2019 & Certified 2023                     1

 Webinar II APU and PPT 2023                              19              ITIL V4 Training & Certified Exam                        1

 Webinar Leadership - The Future of Compe                  3              Virtual Asset Handling Training                          2

 OJK Webinar - Free Prevention Strategies                  7              Certified Anti-Fraud & Legal (CAFP)                      1

 OJK Webinar - Banking Sector P2SK Law                     1              World Bank Blockchain Applications Webinar               2




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                                                         Total                                                                        Total
           Education and Training Types                                            Education and Training Types
                                                      Participants                                                                 Participants

 Operational Training Series                               1            Internalization of Corporate Governance (GCG) and
                                                                                                                                       42
                                                                        Code of Conduct
 Webinar - Implementation of Data Protection               3
                                                                        Socialization of the Implementation of Fraud Risk
 Webinar Security Awareness Cyber Crime                    3                                                                           40
                                                                        Assessment (FRA) Technical Instructions

 Refreshment for Risk Management Certification             7            Internalization of IT, Digital and Cyber Risk
                                                                                                                                       36
                                                                        Management 2023
 Webinar OJK Leadership in Changin Atmosphere              3
                                                                        Security Awareness Socialization for August 2023
 Socialization of Countering Terrorism                     15                                                                           1
                                                                        Period

 OJK Webinar - Internet of Things (IoT)                    4            Internalization of Know Your Employee (KYE)                    43

 Supervisory Development Program (Online)                  1            Internalization of PPDigital and New BTN Policies and
                                                                                                                                       43
                                                                        Procedures
 POJK Provisions Workshop Number 8 2023                    20
                                                                        Compliance Excellence September 2023 Edition
 Indonesia Privacy and Security Summit                     2            - Virtual Branch & Online Onboarding for Open                  43
                                                                        Accounts
 Online / Self Learning
                                                                        AMOLA Mini Series Episod 3 2023                                43
 Webinar II APU and PPT 2023                               38

 Internalization of BTN Mobile                             41           Compliance Excellence October 2023 Edition -
                                                                                                                                       43
                                                                        KRING BTN Pre-Retirement and Retirement Products
 Socialization of Customer Data Management Policy
                                                           41
 in 2023
                                                                        Internalization of the Road Map Program Campaign
                                                                                                                                       38
 Internalization of Security Awareness, User ID and                     & Human Capital Strategic Initiatives 2023 – 2025
                                                           36
 Password Management
                                                                        Internalization of Bank BTN Outlet Service Standards
                                                                                                                                       40
 Compliance Excellence February 2023 Edition Anti-                      Policy
                                                           41
 Bribery Management System Policy (SMAP)
                                                                        Compliance Excellence November 2023 Edition -
                                                                        Limitation of Authority to Deposit and Withdraw Funds          43
 Legal Risk Awareness Socialization                        39           and Pick Up Services
 Compliance Excellence April 2023 Edition - Know                        Internalization of the Legal Clinic Live Session Podcast
                                                           42                                                                          33
 Your Employee                                                          in 2023
 APU and PPT Webinar I in 2023                             40           Internalization of Strategic Business Units (SBU)              43
 Compliance Excellence June 2023 Edition -                              Internalization of New Internal Regulations General
 Guidelines for Implementing Procurement of Goods          41                                                                          37
                                                                        Risk Management Policy
 and Services
                                                                        Total Education and Training Participants                     1187
 Compliance Excellence July 2023 Edition - Data
                                                           42
 Privacy Awareness



Work Program and Implementation of Compliance                          2. The Board of Commissioners' supervision of the Company's
Function Duties                                                           Compliance Function includes providing a review and
                                                                          approval of the Company's Compliance Policy before it is
In 2023, the implementation of the Compliance Function at the             determined by the Board of Directors.
Company includes the following matters:                                3. Implementation of the Compliance Function in Corporate
1. One of the Board of Directors' Active Supervision is ensuring          Governance. In every decision-making process and
    the implementation of the Compliance Function and fostering           discussion related to the Company's business and operations
    and realizing the implementation of a Compliance Culture              carried out in the Board of Directors meeting forum, the
    at all levels of the organization and business activities of the      Board of Directors always pays attention to the opinion of
    Company. In this regard, the Board of Directors has approved          the compliance aspect submitted by the Director in charge
    and established the Company's Compliance Policy proposed              of the Compliance Function and/or the Compliance Work
    by the Director in charge of the Compliance Function which            Unit who submits regulatory provisions related to the material
    is a guideline in the implementation of business and banking          discussed in the Board of Directors Meeting.
    operations and approved and determined the Compliance              4. To support the company's sustainable business growth while
    Procedure as proposed by the Director in charge of the                still paying attention to the compliance aspect, harmonization
    Compliance Function which will be used to compile internal            steps are needed between the company's interests and
    regulations. The Company must always comply with and not              compliance in complying with all regulatory provisions that
    violate the provisions of the Financial Services Authority, Bank      regulate. In order to fulfill this, the Company has taken steps
    Indonesia and applicable laws and regulations, including              to implement the Compliance Function which includes the
    Sharia Principles.                                                    following matters:

                                                                           PT Bank Tabungan Negara (Persero) Tbk                            631
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                                                                 Governance




   a. Compliance Review Presentation                                           No      Month                          Material
        In order to ensure the compliance of the company's                     6     July         Data Privacy Awareness
        internal regulations, products, and/or activities with the                                Procedure for Managing ATM, CDM, and CRM
                                                                               7     August
        provisions of the Financial Services Authority (Otoritas                                  Machines:
                                                                                                  Virtual Branch & Online Onboarding for Open
        Jasa Keuangan), Bank Indonesia, as well as other                       8     September
                                                                                                  Account
        applicable Supervisory and Regulatory Authorities, the
                                                                                                  Light Loan (KRING) for Pre-Retirement and
        Compliance Unit submits a review of compliance aspects                 9     October      Retired Individuals at BTN (Bank Tabungan
        regarding the draft of internal regulations and plans for                                 Negara).
        activities and operational business plans to be approved                                  Limitations on Deposit and Withdrawal Authority,
                                                                               10    November
                                                                                                  as well as Pick-Up Service.
        and determined by the Board of Directors. This is to
                                                                                                  Procedures for Adjusting Increases in Transaction
        ensure that the draft internal regulations and activity                11    December
                                                                                                  Authority Limits and Pick Up Services
        plans are in line with the provisions of the applicable
        regulatory laws and regulations.                                              −   Compliance Broadcast
   b. The Implementation of Compliance Check List                                         Compliance Broadcast is an activity of delivering
   The Compliance Unit conducts a Compliance Check List                                   content and/or information related to compliance
   process for several activities required by Banking Regulations,                        that is relevant to all employees through a
   including:                                                                             broadcasting mechanism using email media owned
        − Compliance Check List for the Assessment of the                                 by the Company on a regular basis. The purpose of
             Capability and Suitability of Bank Management                                Compliance Broadcast is to increase literacy related
        − Compliance Check List for the Application of the                                to Compliance for all Employees.
             Implementation of New Bank Products                                          The steps taken by the bank are aimed at building
        − Compliance Check List for Plans of Opening,                                     and enhancing employee awareness of fraud
             Relocation, and Status Enhancement of Branch                                 incidents, formulating risk mitigation to prevent
             Networks                                                                     fraud, improving compliance culture in branch and
5. In order to create a culture of compliance and ensure that                             regional office business and operational processes.
   all policies, provisions, systems and procedures, as well as                  b. Internalizing New Regulatory Requirements.
   the Company's business activities comply with the provisions                      The Compliance Unit has internalized the latest regulatory
   of the Financial Services Authority, Bank Indonesia and                           requirements issued during the year 2023 to all work
   laws and regulations, the Company formulates a strategy to                        units and employees to enhance knowledge and ensure
   encourage the creation of a Compliance Culture by carrying                        understanding and compliance with the new regulations
   out activities as follows:                                                        through email broadcasts.
   a. Compliance Culture Enhancement Program.                                        In addition to being communicated through email
   − Compliance Excellence                                                           broadcasts, internalization has also been carried out
        The aim of this program is for employees to have the                         through memos to the responsible work units and policy
        same understanding and interpretation regarding                              managers for adjusting internal rules if necessary.
        existing regulations and to increase compliance culture                      This includes units that can assist in overseeing the
        awareness across all levels of the organization. The                         implementation of the internalized provisions, namely
        selected materials are based on data on fraud from                           the Internal Audit Unit, Risk Management Unit, and
        the Internal Audit Division (IAD), the top 10 risks                          Policy and Procedure Unit. Furthermore, a review
        identified by the Enterprise Risk Management Division                        has been conducted on reporting obligations, and
        (ERMD), disciplinary sanctions imposed by the Human                          the determination of the division responsible for these
        Capital Management Division (HCMD), and input from                           reports to the Regulator and/or other Supervisory and
        employees of the Compliance Unit.                                            Regulatory Agencies.
                                                                                     All issued regulatory provisions have been uploaded to
Throughout 2023, Compliance Excellence has been implemented,                         the Compliance Regulatory Management System (CRMS)
attended by all employees as mentioned above, as follows:                            as a reference source and a database of regulatory
 No      Month                          Material                                     provisions accessible to employees. This is expected to
                     Anti-Bribery Management System Policy (ISO                      have an impact on the work units responsible for and
 1     February
                     37001:2016):                                                    managing policies, enabling adjustments to internal
                     The implementation of the "Prinsip Mengenal                     regulations, a review of reporting obligations, and the
                     Pengguna Jasa" (PMPJ) or Customer Due
                                                                                     determination of the division responsible for reporting to
 2     March         Diligence (CDD) principles in the Anti Money
                     Laundering and Countering the Financing of                      the regulator.
                     Terrorism (AML/CFT) Program                              6. Attempts to improve Branch Offices Compliance
 3     April         Know Your Employee                                          a. Regional Compliance Officer (RCO)
 4     May           Customer Complaints System                                      In order to enhance compliance at the branch offices,
                     Guidelines for The Provision of Goods and                       the Compliance Unit is committed to optimizing the
 5     June
                     Services
                                                                                     role of the Regional Compliance Officer (RCO) as the



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   Second Line of Defense in the Regional Office. The RCO                   −   The management of Branch Offices (KC) and their
   plays a crucial role in assisting in the establishment                       outlets (KCS) are committed to consistently building
   and monitoring of risk controls at branch offices under                      and enhancing Compliance Culture by actively
   their supervision. The duties and responsibilities of the                    involving all employees in implementing corporate
   Regional Compliance Officer include:                                         culture programs and reminding all employees to
   − Conducting internalization through virtual media and                       prevent fraud.
        direct visits to Branch Offices/Sharia Branch Offices               − The management of Branch Offices (KC) and their
        in its working area to ensure the implementation of                     outlets (KCS) are committed to optimizing the role of
        Compliance Culture programs related to the AML/                         Branch Business Control and continues to coordinate
        CFT Program, Gratification Control, internalization                     and communicate with the Regional Compliance
        of CRMS (Compliance Regulatory Management                               Officer for the mitigation of operational and
        System), internalization of Compliance Map                              compliance risks.
        parameters that require attention using the                 7. Implementation of the Compliance Function in the Pre-Credit
        Compliance Map Dashboard, and internalization of               Committee Meeting (Pra RKK) and Credit Committee Meeting
        the Compliance Culture Awareness program using                 (RKK) processes
        the Compliance Excellence Dashboard.                           The Compliance Unit has implemented the Compliance
   − Providing independent compliance opinions                         Function in the commercial lending business process,
        regarding business and operational processes upon              specifically during the Pre-Credit Committee Meeting (Pre-
        the request of Branch Offices/Sharia Branch Offices            CCM) and Credit Committee Meeting (CCM) through the
        and Regional Offices.                                          Compliance Credit Consulting unit. The Compliance Credit
   − Conducting analysis and evaluation of compliance,                 Consulting is responsible for providing input on compliance
        monitoring follow-up actions on compliance reports             aspects related to meeting requirements related to Maximum
        from Regional Offices, as well as Branch Offices/              Credit Limits (BMPK), debtor and business legality, legality
        Sharia Branch Offices within the supervision area,             of funded projects, capacity, capital, business prospects,
        as an effort to enhance Compliance Control.                    and collateral. It is expected that through discussions at the
   − Reminding Branch Offices/Regional Offices about                   Pre-CCM forum, compliance-related issues or problems can
        examination/assessment results conveyed by the                 be mitigated, ensuring that credit decisions are free from
        Division/External Parties, then presenting potential           compliance risks.
        risks and impacts and providing suggestions for                This has an impact on the bank in that compliance-related
        mitigation efforts to address compliance risks.                issues or problems can be mitigated, ensuring that credit
   − Reviewing internal regulations based on feedback from             decisions are free from compliance risks. Every commercial
        business and operational units at the Branch Office.           credit decision is made in accordance with regulatory
b. Implementation of Branch Visit                                      provisions and applicable laws, avoiding any violations of
        In order to ensure that the implementation of                  compliance requirements.
        Compliance Culture is in line with the compliance map       8. Implementation of Anti-Money Laundering and Combating
        scores and to enhance compliance risk awareness at all         the Financing of Terrorism (APU and PPT) programs with
        levels of the organization, to understand the overview         reference to the applicable laws and regulations. In the
        of compliance culture implementation at Branch                 context of implementing the APU and PPT program, the Bank
        Offices and their outlets, and to gather feedback              carries out several activities which are described separately
        and information for the evaluation of the compliance           in the APU and PPT chapter.
        culture program, the Bank has conducted Branch Visits
        under the theme of "Internalization and Strengthening       Compliance Risk Managemen
        Compliance Culture.                                         Management of compliance risk is implemented continuously
        Branch visit activities involve active participation from   to improve compliance culture across all business activities and
        the management of the Branch Offices (KC) and               organizational levels, as well as to mitigate the Company’s
        their outlets (KCS) through presentations by the KC         compliance risks.
        and KCS management regarding the implementation             1. Compliance Risks Faced by the Company
        of Compliance Culture. The activities also include              One of the impacts of exposure to compliance risks is penalty
        conducting focus group discussions (FGD) to formulate           (fines and written reprimand) from relevant regulator, i.e.
        the implementation and improvement of Compliance                the Financial Services Authority, Bank Indonesia, Center
        Culture in the future for both KC and KCS. Additionally,        for Financial Transaction Reporting, and/or other relevant
        the management of KC and KCS expresses their                    regulators.
        commitment to enhancing risk awareness, especially          2. Compliance Risk Potentials
        related to compliance risks in the business and                 Below are the compliance risk potentials that the Bank is
        operational aspects of each work unit.                          exposed to, as follows:
        The implementation of Branch Visit affected in the
        following impacts:



                                                                        PT Bank Tabungan Negara (Persero) Tbk                 633
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                                                          Governance




   a. Regulatory Check Result                                             e. The Compliance Unit and the Risk Management Unit
       The cause of regulatory fines is the result of examinations           have conducted discussions and mapping together
       conducted by the regulator on reports previously                      with the relevant Divisions regarding the segregation of
       submitted by the bank to the regulator.                               duties related to the reporting process to the Regulator
   b. Delay in the report corrections submission                             or other Supervisory Authorities mentioned above. This
       Delay in the submission of corrections to report that have            includes defining the roles of makers, checkers, and
       been submitted to the regulator beyond the set deadline.              approvers starting from the data owner, data provider,
   c. Delay and/or No Reports submission                                     and reporting responsible party.
       Lack of supervision from authorized agencies, internal          4. Other Compliance Risk Mitigation
       controls, and monitoring in the submission of reports in           a. Compliance Mapping
       accordance with regulatory requirements.                              The Compliance Unit has developed a Compliance
   d. Data Errors                                                            Map as one of the strategies to foster the Compliance
       Errors in the process of mapping the data categorization              Culture of Bank BTN and as a tool to assess the level of
       source for reporting needs, input errors by employees                 compliance of Branch Offices and Regional Offices with
       in the system, and potential errors in formulation or                 parameters, namely:
       calculations that do not comply with reporting guidelines.            − Office Branch Fine
3. Measures to Mitigate Compliance Risks                                     − Significant Findings/Fraud Reports
   To mitigate the abovementioned compliance risks, the                      − Corporate Culture Score
   Compliance Risk Task Force has taken a number of measures,                − Percentage of of Branch Business Control (BBC)
   such as:                                                                       Reports Finishing
   a. Director's Appeal through a memo to all Divisions,                          Through the Compliance Map, it will have an
       Regional Offices, Branch Offices/Sharia Branch Offices                     impact on Branch Offices and Regional Offices to
       regarding the Mitigation of Fines and/or Written                           increase awareness of the 4 (four) parameters and
       Warnings from the Regulator.                                               improve business and operational processes at the
   b. The Compliance Unit coordinates to conduct remapping                        Branch Offices.
       and updating reporting obligations to the Regulator, as            b. Compliance Dashboard
       well as identifying responsible parties for reporting in              The Compliance Unit has developed a Compliance
       each Division. Furthermore, the Compliance Unit also                  Dashboard to mitigate potential non-compliance
       communicates that all Divisions actively coordinate                   by providing confirmation and data verification of
       in providing updates on new regulatory reports to the                 Compliance Dashboard parameters to the relevant
       Compliance Unit if they are not yet included in the                   Work Units. Through the optimization of the Compliance
       existing reporting list in the Compliance Regulatory                  Dashboard, it will have an impact on the related Work
       Management System (CRMS).                                             Units to formulate preventive measures to minimize
   c.    Through the Compliance Regulatory Management                        operational and compliance risks and mitigate violations
       System (CRMS), email notifications have been sent                     of established regulations.
       as reminders before the reporting deadlines to all
       Divisions with reporting obligations to the Regulator           Implementation of other Compliance Activities
       and/or external parties. This includes monitoring the           The Company has also continuously refined its business processes
       development of new Bank Products (PPB) and New                  as part of the implementation of compliance activities, which
       Activities for the Benefit of the Bank (KKB) as well as         include:
       activities as Information Technology Service Providers          1. In order to implement ISO 37001:2016 Anti-Bribery
       and/or issuing Electronic Banking Service Products for               Management System (SMAP), the Compliance Task Force
       the realization reporting obligations to the Regulator.              served as Anti-Bribery Compliance Function (FKAP) with the
   d. The Compliance Unit, along with the Data Management                   following duties: supervising the design and implementation
       Unit and the Risk Management Unit, has discussed                     of SMAP, providing assistance and guidelines regarding
       the Technical Regulation (PT) on Data Governance,                    SMAP for employees, ensuring SMAP operates according
       especially related to the RACI (Responsible, Accountable,            to applicable standards, and reporting SMAP performance
       Consulted, and Informed) Matrix for the Reporting                    to the relevant governing bodies and top management.
       Process to the Regulator. This includes adding data                  Bank BTN has obtained ISO 37001:2016 Anti-Bribery
       validation activities by the Data Owner Division to                  Management System (ABMS) Certification for the
       ensure the quality and accuracy of the data before being             procurement of goods and/or services at the Procurement
       reported by the Reporting Responsible Division to the                and Fixed Asset Management Division (PFAD), commercial
       Regulator. This is expected to have a positive impact                loan at the Commercial Banking Division (CMBD), Corporate
       on the reporting process to the Regulator, ensuring                  Banking Division (CBD), and Wholesales Credit Risk Division
       adherence to the principles of Completeness, Accuracy,               (WRD), and small-medium credit at all Regional Offices
       Timeliness, and Integrity (CATI) to mitigate data errors             for SME Restructuring. In order to maintain the ISO SMAP,
       and recurring findings by the Regulator.                             an audit was conducted by the Certification Board on July



634         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




   24 – 28 2023. The result indicated that the entire scope of             d. Recording of Personal Data Processing (ROPA) – (Article
   the Re-certification and Surveillance for ISO 37001:2016                     31).
   SMAP was successful in maintaining the ISO 37001:2016                   e. Personal Data Protection Impact Assessment / Data
   SMAP. Additionally, in 2023, the scope was expanded                          Privacy Impact Assessment (DPIA) – Article 34).
   to include the Small Medium Enterprise Banking Division                 f. Incident Handling (Articles 35, 39 and 46).
   (SMBD) and 4 Commercial Banking Centers (Jakarta Raya,                  g. Functions of Personal Data Protection Officials (Articles
   Bintaro, Bekasi, and Bandung). An audit for the expansion                    53-54).
   of the ISO 37001:2016 ABMS scope was conducted by the                   h. Cooperation with Third Parties – (Article 18 and Article
   Certification Body from December 14 to 20, 2023, for the                     60).
   Small Medium Enterprise Banking Division (SMBD) and the 4          Based on this commitment, the Company through the Compliance
   Commercial Banking Centers (Jakarta Raya, Bintaro, Bekasi,         Work Unit has carried out follow-up actions related to Personal
   and Bandung), resulting in the successful certification of the     Data Protection including:
   entire expanded scope for ISO 37001:2016 SMAP.                     a. A sharing session regarding the Personal Data Protection
2. Bank BTN has obtained ISO 37301:2021 Compliance                         Law was held with the Directors, Division Representatives,
   Management System Certification on December 30, 2022,                   Regional Offices, Branch Offices and Sharia Branch Offices.
   with the implementation scope covering the Compliance &                 The sharing session discussed the provisions of the Personal
   Governance Division. The coverage includes the functions                Data Protection Law which have an impact on the Bank's
   of compliance, corporate governance, and anti-money                     business as well as critical matters that management needs to
   laundering. The implementation of ISO CMS provides                      pay attention to in the implementation process.
   guidance, a standardized framework, and process                    b. Conduct a Gap Assessment to provide an overview of existing
   improvements for compliance-related business processes.                 business conditions (business as usual) that are running with
   In order to maintain ISO 37301:2021, a Surveillance                     the Personal Data Protection Law and other related policies
   Audit was conducted in 2023, and the Compliance Unit                    through reviewing business as usual processes and holding
   successfully retained the ISO 37301:2021 Compliance                     interview sessions with all Divisions related to processes,
   Management System Certification.                                        products and/or services that use personal data with
3. Implementation of Integrated GRC (Governance Risk and                   applicable internal policies or procedures.
   Compliance) in the Company. In line with the results of            Furthermore, the Company will carry out several implementations
   the Company's transformation blueprint, namely achieving           in the context of internalizing the Personal Data Protection Law in
   integrated GRC by implementing governance, risk                    the company's business, including:
   management and compliance practices in an integrated               a. Study of the operating model that needs to be implemented
   manner. In the GRC Index Assessment, an assessment method               in ensuring the formation of the function of a Personal Data
   will be implemented for each work unit with Key Performance             Protection Officer who will supervise compliance with the
   Indicators, Key Risk Indicators, and Key Compliance                     Personal Data Protection Law.
   Indicators. Each work unit will have a GRC Index which is          b. Preparation of policies, procedures, frameworks and
   an indicator of the implementation of aspects of governance,            templates for the Customer Consent process, rights of
   risk management and compliance in an integrated manner.                 Personal Data Subjects, Collaboration with Third Parties,
                                                                           Handling Data Leaks, Personal Data Protection Impact
4. Implementation of the Compliance Work Unit function in the              Assessment Process and Recording Process for Personal Data
    context of Personal Data Protection (Data Privacy).                    processing.
    The Company is committed to implementing Law no. 27               c. Implementation of Privacy by Design for all Bank processes
    of 2022 concerning Personal Data Protection (UU PDP) to                which includes:
    ensure compliance and suitability of Bank BTN's business               – Ensure explicit valid Personal Data Subject consent.
    processes to the mandate of the law. In addition, the                  – Ensure the preparation of a Recording Process for
    Company is always committed to protecting Personal Data                     Personal Data Processing and a Personal Data Protection
    (including customers, employees and vendors), related to the                Impact Assessment Process for all processes that use
    use of banking products and/or services offered by the Bank.                Personal Data.
    In this law, important matters regulated include the following:        – Ensure that cooperation agreements with third parties
    a. Rights of Personal Data Subjects - (Articles 5 -16).                     accommodate the provisions of the Personal Data
    b. Customer Consent (Customer Consent) – (Article 20-21).                   Protection Law.
    c. Obligations of Personal Data Controllers and Processors             – End to end Personal Data Protection.
         – (Articles 27-30).




                                                                          PT Bank Tabungan Negara (Persero) Tbk                   635
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Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and Prevention of the
Proliferation of Weapons of Mass Destruction (PFWMD) Program

The Company implemented Anti-Money Laundering (AML), Counter-Terrorism Financing (PPT), and Prevention of the Proliferation of
Weapons of Mass Destruction (PFWMD) programs in customer recognition activities by referring to regulations and legislation. As
part of the efforts to encourage the effectiveness of implementing the AML, PPT, and PFWMD programs and to comply with regulatory
requirements, the Company established a Special Work Unit (UKK) for AML, PPT, and PFWMD at the Head Office. The implementation
of the AML, PPT, and PFWMD programs in Regional Offices and Branch Offices is the responsibility of each Regional Office Head and
Branch Manager.


Organizational Structure in the Implementation of AML, PPT, and PFWMD

The implementation of the AML and PPT program is carried out by the Special Work Unit (UKK) AML, PPT, and PFWMD which is
structurally under the Compliance Work Unit (SKK) of the Head Office and is directly responsible to the Director who is in charge of the
compliance function which can be described as follows:


                                                                       Director
                                                                  (Understanding the
                                                                 Compliance Function)


                                                               Compliance & Governance
                                                                    Division Head
                                                                (Compliance Work Unit)




                   AML Advisory & System                                                   AML Transaction & Analysis
                       Departement                                                                Department



                                                                                                Financial Group
                   Strategic & Development
                                                                                              Transaction Analyst*



                      Busisness Alignmet                                                    Suspicious Transaction &
                          & Advisory                                                              Investigation



                 MIS & System Development                                                      Transaction Analyst




                                                                                             Assurance & Reporting
              *) functions when the company has a subsidiary




To implement the AML, PPT, and PFWMD programs effectively and in compliance with regulatory requirements, apart from Special Work
Unit (UKK) for AML, PPT, and PFWMD at the Head Office, the AML, PPT, and PFWMD programs were also implemented at Regional
Offices and Branch Offices.


Anti-Money Laundering and Counter-Terrorism Financing Program (AML and CFT)

Submission of Reports and Data to Regulators and/or Law Enforcement Officials (APH)
1. Submitting Financial Transaction Reports to the Center for Financial Transaction Reports and Analysis (PPATK) as follows:
   a. Cash Transaction Report (LTKT)
   b. Suspicious Transaction Report (LTKM)
   c. International Funds Transfer Instruction Reports (LTKL)
   d. Integrated Service User Information System Report (SIPESAT)



636         PT Bank Tabungan Negara (Persero) Tbk
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2. Conveying Data/Information Compliance to the Law                                      competition with the themes of AML, PPT, and PFWMD via
   Enforcement & Regulatory Officials as follows:                                        TikTok social media using the work of AMOLA Cipta Jingle
   a. Information System for AML and CFT Program (SIGAP) to                              in 2022. The AMOLA TikTok Competition was attended by
       the Financial Services Authority (OJK)                                            representatives of each Work Unit from the Head Office,
   b. Anti-Money Laundering (AML) and Counter-Terrorism                                  Regional Offices, and Branch Offices.
       Financing (CFT) report via Online Reporting Application                      b. AMOLA Mini-Series 2023
       (APOLO)                                                                           AMOLA Mini-Series was a short film with a theme regarding
   c. Information System for Suspected Terrorism Financing                               the implementation of AML, PPT, and PFWMD programs
       (SIPENDAR) to the Center for Financial Transaction                                including the Typology of Money Laundering Crimes,
       Reports and Analysis (PPATK)                                                      Stages of Money Laundering, as well as the Principles of
   d. Electronic Data Exchange Application Report (PEDAL) to                             Recognizing Service Users (PMPJ)/Customer Due Diligence
       the Corruption Eradication Commission (KPK)                                       (CDD) which consists of 3 (three) episodes. The AMOLA
   e. Fulfillment of data requests by the Supervisory and                                Mini-Series broadcast was carried out on a massive scale
       Regulatory Agency (LPP) and other Law Enforcement                                 through various BTN internal media.
       Officials (APGAKUM), namely the Police, National                          2. Internalization of AML, PPT, and PFWMD Awareness 2023
       Narcotics Agency (BNN), Prosecutor's Office.                                 a. AML, CFT, and PFWMD Webinar 2023
3. Submitting reports related to the Implementation of General                           Bank BTN held an AML, CFT, and PFWMD On Boarding
   Elections and Regional Head Elections to the Center for                               Session in 2023 through an AML, CFT, and PFWMD
   Financial Transaction Reports and Analysis (PPATK) as follows:                        Webinar by inviting source persons from external parties
   a. Participating in the Collaborative Analysis Team (CAT) which                       (PPATK and Banking Practitioners).
       is a collaborative exchange of information between the                       b. AML, CFT, and PFWMD Workshop 2023
       Public Sector, namely PPATK, reporting parties, Supervisory                       Bank BTN held a Workshop on Internalizing the Regulation
       and Regulatory Agency (LPP), Law Enforcement Officials.                           of the Financial Services Authority (POJK) Provisions
   b. Monitoring the Special Campaign Fund Account (RKDK).                               Number 8 of 2023 to increase employee understanding
   c. Screening of political party treasurers, central, and                              and compliance regarding the impact of implementing
       regional management boards.                                                       POJK Number 8 of 2023.
   d. Screening of the Permanent Candidate List (DCT) of                         3. Branch Visit and Surprise Review
       General Election and Regional Head Election participants                     Branch Visits were carried out to increase awareness of
       submitted by PPATK.                                                          Branch Offices by internalizing them to Branch Offices by
   e. Submitting all reports and requests for information related                   considering the distribution of the most Suspicious Financial
       to the implementation of the 2024 General Election and                       Transaction Reports (LTKM), Ownership of foreigners who
       Regional Head Election.                                                      come from high-risk countries as well as auditees from the
                                                                                    2022 APU and PPT Thematic Audit.
Awareness Strategic Initiative Program
1. AML Creative Campaign 2023                                                    In addition, a Surprise Review was carried out at the Branch Offices
   a. AMOLA TikTok Competition 2023                                              that had been visited to re-confirm employee understanding and to
      AMOLA TikTok Competition was a content creation                            evaluate the effectiveness of the Branch Visit activities.



Legal Case

Table of Lawsuits
                                                                                                              Total
 No.                                  Legal Case
                                                                                    Civil                   Criminal            Industrial Relations
 1.      Already settled (has permanent legal force)                       137                       8                          3
 2.      In the process of settlement                                      151                       9                          2
 Total                                                                     288                       17                         5


Legal Cases Facing The Company

Table of Legal Cases Faced by the Company
                                                                Impact on the          Management                                     Risk and Claim
 No       Main Case/ Lawsuit            Settlement Status                                                          Verdict
                                                                  Company                 Effort                                          Amount

         Lawsuit related to the         Judicial Review       Bank is at            Bank BTN submitted
                                                                                                                                    Material:
  1      settlement of the debtor's     (PK) Process at the   risk of paying        a Memorandum of         None
                                                                                                                                    IDR 1,191,779,350,-
         certificate in full.           Supreme Court         Compensation          Judicial Review (PK)




                                                                                     PT Bank Tabungan Negara (Persero) Tbk                        637
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                                                                    Corporate
                                                                    Governance




                                                                 Impact on the             Management                                 Risk and Claim
 No      Main Case/ Lawsuit             Settlement Status                                                             Verdict
                                                                   Company                    Effort                                      Amount

        The lawsuit is related                                 Bank is at               Bank BTN filed
                                        Cassation Process at                                                                        Material:
  2     to the settlement of the                               risk of paying           a cassation legal      None
                                        the Supreme Court                                                                           IDR 108,000,000,-
        debtor's certificate in full.                          Compensation             action

        Lawsuit regarding fraud
        committed by a third
        party marketing agent
                                        Judicial Review                                 Bank BTN files legal
        who applied for fictitious                             Risk of Bank paying                                                  Material:
  3                                     (PK) Process at the                             action for Judicial    None
        credit to another bank                                 Compensation                                                         IDR 2,436,962,487,-
                                        Supreme Court                                   Review (PK)
        and the disbursement
        was made through a
        BTN Bank account.

        The lawsuit is related to       Judicial Review                                 Bank is at
                                                               Risk of Bank paying                                                  Material:
  4     a dispute over collateral       (PK) Process at the                             risk of paying         None
                                                               Compensation                                                         IDR 1,699,100,000
        land.                           Supreme Court                                   Compensation

                                                                                        Bank BTN filed
        The lawsuit is related to       Cassation Process at   Risk of Bank paying                                                  Material:
  5                                                                                     a cassation legal      None
        Bank Guarantees.                the Supreme Court      Compensation                                                         IDR 14,138,723,096
                                                                                        action

        The lawsuit is related
        to the debtor's internal
                                        Cassation Process at   Risk of Bank paying      Cassation Process at                        Material:
  6     conflict which places                                                                                  None
                                        the Supreme Court      Compensation             the Supreme Court                           IDR 2,635,000,000,-
        Bank BTN as a party in
        the lawsuit.



During 2023, there will be no decisions with permanent legal                         Access to Company Information and Data
force (inkracht) stating that the Company has been proven to
have committed violations regarding labor/employment/                                The Company provides access to information and data, both
consumer or customer/bankruptcy/commercial/competition or                            financial and non-financial related reports to the public in a
environmental issues.                                                                transparent manner through various media such as websites (in
                                                                                     two languages), mass media (press releases), internal magazines/
Lawsuits/Important Issues Faced by The Board of                                      bulletins, meetings with analysts, IDX official website, product
Directors and Commissioners                                                          posters and banners, corporate actions, Company presentation
                                                                                     materials to the public and so on. Access to Company information
During 2023, no current members of the Board of Directors and                        regarding financial and company information, among others,
Commissioners of the Company had either civil or criminal legal                      can be done through the following media:
issues.                                                                              1. Website www.btn.co.id which is presented in Indonesian and
                                                                                         English, as well as conveys information regarding the following:
Lawsuit/Important Issues Faced By Subsidiaries                                           a. Shareholder information up to individual ultimate
                                                                                              owners;
Until 2023, Bank BTN does not yet have a Subsidiary, so there                            b. Financial performance analysis;
is no information on legal issues being faced by Subsidiaries.                           c. Annual financial statements for the last 5 years; and
                                                                                         d. Profile of the Board of Commissioners and the Board of
Administrative Sanctions Imposed on                                                           Directors.
The Company, Members of The Board of                                                 2. For more information, customers can contact Call Center
Commissioners and Directors by The Capital                                               1500 286 or email csd@btn.co.id.
Market Authority and Other Authorities                                               3. Investors can directly contact the Company’s Corporate
                                                                                         Secretary/ Investor Relations on email: investor_
The Company strives to fulfill its responsibilities and comply with all                  relations@ btn.co.id or telephone to (62-21) 633
Laws and Regulations, Regulations of the Financial Services Authority                    6789 ext: 2003.
and other Authorities that apply to the Company. Throughout 2023,                    4. The company also continuously submits information disclosure
there were no administrative sanctions imposed on the Company                            reports and/ or material facts to the Financial Services Authority
that affected the continuity of the Company’s business and there                         and the Indonesia Stock Exchange as well as through the
were no administrative sanctions imposed on members of the Board                         electronic reporting systems: spe.ojk.go.id and idxnet.
of Directors or members of the Company’s Board of Commissioners.                         co.id and the website www.btn.co.id.




638          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                 2023 Annual Report




5. Information through other media, including mass media (press           with analysts/investors on a national and international scale
   releases), internal magazines/bulletins, posters, and banners.         as well as performance exposure to the public. The Company
6. Report submissions to regulators, analyst meetings, press              also fulfills information disclosure obligations as regulated in
   conferences, and so on Information through other media, including      the Capital Market such as Disclosure of Material Information
   mass media (Press Releases), internal magazines/ bulletins, posters    or Facts, Financial Statements, Annual Reports and Certain
   and banners. In addition to more specified information about the       Shareholders Reports.
   Company, the public and investors can contact:
                                                                          The contacts for the Company’s Investor Relations are as follows:

                    Corporate Secretary
                                                                                             Investor Relations
                          Ramon Armando
                           Menara BTN                                                          Winang Budoyo
            Jl. Gajah Mada No.1, Jakarta Pusat 10130                                           Menara BTN Lt. 16
                  Telp: (021) 6336789 ext. 2003                                      Jl. Gajah Mada No. 1, Jakarta 10130
                        Faks: (021) 6336719                                                  Telp : +62 21 63870107
                         Email: csd@btn.co.id                                           Email : investor_relations@btn.co.id
                                                                             Website : https://www.btn.co.id/Investor-Relation-Home

Investor Relation

The Company always maintains a harmonious relationship with
shareholders, potential investors, analysts and other capital
market communities by holding regular activities such as meetings


Profile of Investor Relations Head



                                                                 Educational background
                                                                 • S1 Bachelor of Economics – Universitas Indonesia
                                                                 • S2 Master of Economic Studies – University of Queensland

                                                                 Work experience
                                                                 • Investor Relations & Research Division Head and Chief Economist BTN
                                                                   (2020 – present)
                                                                 • Investor Relations Department Head and Chief Economist BTN (2018 –
                                                                   2020)

                                                                 Legal Basis for Appointment
                                                                 21/KUASA/DIR/2020 dated April 28, 2020
Winang Budoyo
Investor Relations Head

Indonesian citizen, 54 years old,
domiciled in Bekasi.




Investor Relation’s Duty and Responsibilities

Communication programs to the capital market community are implemented through regular and on-demand public exposures. Investor
Relations actively organizes meeting forums with analysts, investors, rating agencies and other capital market communities to ensure that
information disclosure can be carried out properly. The authority of Investor Relations following the Special Policy (KK) 9-AA is as follows:
1. Manage all communication activities with analysts, investors and the capital market community to provide an overview of the
    company's performance and prospects to analysts and investors.
2. Managing all communication activities with analysts and investors, including the capital market community starting from
    communicating Bank BTN's performance and developing an appropriate image, to carrying out communication programs to the
    capital market community to provide an overview of the company's performance and prospects to analysts and investors.




                                                                              PT Bank Tabungan Negara (Persero) Tbk                   639
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                                                          Corporate
                                                          Governance




3. Ensure that the quality of data collected regarding business        2. Information is provided by adhering to the precautionary
    performance and prospects is valid and accurate data to be            principle and taking into account the applicable confidentiality
    communicated to the investor community and capital market             provisions in the banking sector.
    community in order to optimize investment in the Company.
    Manage and ensure accurate data collection activities to           The public exposure methods used are as follows:
    support analysis and modeling to optimize investment in the        1. Direct, which includes: General Meetings of Shareholders,
    company.                                                               Public Expose, Non Deal Roadshow, Investor Conference,
4. Managing the availability of reports related to investor                Press Conference, 1-on-1 Meetings, Group Meetings,
    responses, valuation, and stock performance to the Board               Conference Call, Branch Visits and Site Visits.
    of Directors to provide opinions in preparing the company's        2. Indirect, which includes Annual Reports, Published Financial
    business and financial strategies.                                     Statements, Press Releases, Website, Broadcast Media (TV,
5. Supporting the reporting process to regulators to fulfil                Newspaper, Online Media), Social Media, and E-mails.
    the compliance functions in accordance with applicable
    regulations.                                                       Implementation of Investor Relation Duties
6. Managing the Bank's performance communication activities
    to the public, Bank Investors, and the Capital Market.             In 2023, the activities and interactions of the Investor Relations
7. Ensuring the quality of data communicated in terms of validity,     work unit involving investors, analysts, shareholders, rating
    accuracy, and sources of information to provide appropriate        agencies and capital market players, are as follows:
    information regarding the company's performance and                1. Organizing Analyst Meetings which were held 4 (four) times
    prospects to investors as well as optimizing investment in the         in a year.
    Bank.
                                                                               Date                    Topik                 Deskripsi
8. Proactively providing information to the capital markets
    community and seeking opinions on strategic matters.                February 16, 2023
                                                                                             Analyst Meeting FY22      Video Conference
                                                                                             (audited)                 Call
9. Managing the procurement of Investor Relations
    Communication Activities and meetings with other                    April 26, 20203
                                                                                             Analyst Meeting           Video Conference
                                                                                             1Q23 (unaudited)          Call
    stakeholders regarding the delivery of company business
    and financial information to provide company prospects to                                Analyst Meeting           Video Conference
                                                                        July 20, 2023
                                                                                             1H23 (unaudited)          Call
    investors in optimizing investment in Bank BTN.
10. Preparing presentation materials for Investor Relations             November 27,         Analyst Meeting           Video Conference
                                                                        2023                 9M23 (limited review)     Call
    communication activities.
11. Providing Bank data and information regarding Bank
    performance through the Investor Relations website to              2. Organizing Annual Reviews with national and international
    provide easier and wider access, in which the information             rating agencies which were held 3 (three) times a year.
    includes:
                                                                               Date                            Rating Agency
    a. Monthly and quarterly financial reports, Liquidity
         Sufficiency Ratio Report (LCR), Net Stable Funding             May 17, 2023         Pefindo
         Report (NSFR), Risk Exposure and Capital Report, Entity
                                                                        October 19, 2023     Fitch Ratings
         Financial Report, and Leverage Ratio Report following
         the Financial Services Authority (OJK) requirements as a       November 29, 2023    Moody’s

         banking company in Indonesia.
    b. Publication of consolidated financial reports every quarter     3. Interaction and discussions with investors and analysts in the
         and audited for the year-end period in accordance with           form of teleconferences and in-house meetings throughout the
         the Financial Services Authority (OJK) requirements as a         year.
         public company as well as presentation materials for the
                                                                               Date                               Activity
         Analyst Meeting.
    c. Annual Report which is a comprehensive report for the            February 3, 2023     Mandiri Investment Forum

         public and stakeholders on Bank BTN's performance              March 2, 2023        KBSA Live Special Mirae Asset Securities
         achievements, business, and other activities.                  March 31, 2023       Meet the Company Rivan Kurniawan

                                                                                             Local Non-Deal Roadshow BRI Danareksa
The basic principles used by Investor Relations in communicating        May 31, 2023
                                                                                             Securities
with the capital market community are:
                                                                        June 7 – 8, 2023     Local Non-Deal Roadshow Mandiri Securities
1. Fair disclosure of information by taking into account the
                                                                        June 14, 2023        Emiten Xtraordinary Bahana Securities
    principles of equitable treatment and transparency.
                                                                        June 15, 2023        Meet & Greet CGS CIMB Securities




640         PT Bank Tabungan Negara (Persero) Tbk
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        Date                             Activity                     Throughout 2023, the Company fulfilled meeting requests in the
                                                                      form of teleconferences and in-house meetings from the capital
                      Emiten Talk Banking & Finance Series Stockbit
 June 16, 2023
                      Securities
                                                                      markets community, both conducted with the Board of Directors
                                                                      and by the Investor Relations unit.
 July 5, 2023         CuanTalks Podcast Ajaib Securities

                      Non-Deal Roadshow Australia Macquarie
 July 14, 2023
                      Indonesia Securities                                        Participant                          Number of Activities
                      Regional Non-Deal Roadshow to Singapore,         Analyst                                                      72
 July 24 – 28, 2023   Hongkong and Kuala Lumpur Macquarie
                      Indonesia Securities                             Local Investor                                               65

 August 1, 2023       UBS Indonesia Banks Day 2023                     Foreign Investor                                             78
 August 16, 2023      Emitalk BBTN Indo Premier Securities             Rating Agency                                                 3
 September 11 – 13,   Shanghai Indonesia Corporate Day Mandiri         Total                                                       218
 2023                 Securities

 September 11 – 14,
                      30th CITIC CLSA Investors’ Forum Hongkong
 2023
                                                                      The Investor Relations Unit periodically submits reports on the
 October 5, 2023      NgopiAren BNI Securities
                                                                      development of the Company’s shares, including unusual
 September 20,                                                        market activities, and reports related to inputs, responses and
                      SmartTalk RHB Securities
 2023
                                                                      expectations of investors, analysts and other capital market
 September 27,        Yuanta Regional Investment Forum Yuanta         communities towards the Company’s business development and
 2023                 Securities
                                                                      performance improvement.
 November 2, 2023     Annual BCP Investor Conference

 November 20,         Indonesia SMID Cap Banks Corporate Day          Media Exposure
 2023                 Macquarie Securities

 November 29,                                                         During the period January 1, 2023 to December 31, 2023, the
                      Public Expose Live with IDX
 2023
                                                                      Company received extensive and positive news exposure in the
 December 6 – 8,      Local Non-Deal Roadshow with BRI Danareksa      mass media, both print, online and electronic media. Within a
 2023                 Securities
                                                                      year, the Company has distributed 102 (one hundred and two)
 December 13,         Webinar Meet Your Company with Mandiri          press releases to the mass media and 85 (eighty five) official
 2023                 Securities
                                                                      photo news which were also distributed to the media. As a result,
                                                                      in the same period, the Company received high news exposure,
4. Organizing the 2023 Annual Public Expose on November 29,           where there were more than 23,181 total reports, of which
   2023 through Public Expose Live 2023 with the Indonesian           22,892 were positive news published by the mass media. Of the
   Stock Exchange (IDX) with the agenda of Performance                total news, 93% (ninety three percent) was broadcast by online
   Exposure and Press Conference which was attended by 997            media, including kontan.co.id, headtopics.com,bisnis.com, and
   participants consisting of retail and institutional investors,     Republika.com.
   shareholders and analysts.
                                                                      The regional distribution of the Company's news media is
                                                                      dominated by national news media with 16,170 stories



                                           Distribution of BTN News Media Categories

                           Electronic Media (TV) : 138 Articles         Print Media: 1,402 Articles
                                                 1%                                     6%




                                                                                             Electronic Media (TV): 138 Articles

                                                                                             Print Media: 1,402 Articles

                                                                                             Online media: 21,640 Articles

                                                                                             TOTAL: 23,181 Articles
                      Online Media: 21,640 Articles
                                    93%




                                                                          PT Bank Tabungan Negara (Persero) Tbk                               641
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                                                                          Corporate
                                                                          Governance




                                                                     TOP 10 BTN Media

                       Print media                                               Online media                                 Electronic media (TV)

                                                 330
                                                                                                                    IDX                                  36
     Kontan                                                 Kontan.co.ic                                    589
                                                                                                                  CHANNEL
    Investor                               250                                                                                                   19
                                                          head topics.com                       383               INews TV
      Daily
      Bisnis                           169                                                                                                 11
                                                             Bisnis.com                       336                 Metro TV
    Indonesia
      Media                        126                                                       318                                       7
                                                          republika.co.id                                         Kontan TV
    Indonesia
     Rakyat                      105
                                                                                                                   Garuda              7
                                                             detik.com                    296
    Merdeka                                                                                                          TV

                            98
                                                                                                                    CNBC              5
    Neraca                                                   msn.com                     292
                                                                                                                  Indonesia
      Koran                30
                                                                                                                  Kompas           4
                                                          idxchannel.com                286
     Jakarta                                                                                                        TV
     Majalah               30                                                                                                      4
                                                        wartaekonomi.com                286                         SCTV
    Info Bank
     Koran            28                                                               273
                                                                                                                    Inews          4
                                                            kompas.com
     Sindo                                                                                                          Aceh

                      24
                                                                                                                    Tribun        3
    Solopos                                                 investor.id                245
                                                                                                                  Pontianak




                                         Distribution of BTN News Media Regions for the 2023 Period

           National
                                                                                                                                                16.170



               Area                                                           7.011




                                                                             TOTAL: 23,181 Articles




Press Conference

 No                   Date                                                                          Title

1        January5, 2023                    BTN Rights Issue Oversubscribed 1.6 Times

2        January 8, 2023                   BTN's Rights Issue was a Success, This is What Analysts Say

3        January 11, 2023                  Reappointed as BTN Director Andi Nirwoto is Behind the Success of BTN's Digital Banking Transformation

                                           GMS Approves Heru Budi Hartono's Resignation as Commissioner of Bank BTN 2022 Back on Track and Optimistic
4        January 11, 2023
                                           to Welcome 2023

5        January 16, 2023                  Celebrating its 73rd Anniversary, BTN Holds Journalism and Photo Awards

6        January 18, 2023                  2023, BTN SYARIAH INTENSELY OPENING BRANCHES

7        January 19, 2023                  Bank BTN Officially Opens Sub-Branch Office in Poso Regency

8        January 20, 2023                  Housing Ecosystem Becomes Mainstay of BTN Super Apps

9        January 26, 2023                  Support Zero Backlog Housing in 2045, This is a Strategic Step Proposed by Bank BTN



10       January 27, 2023                  Minister of Finance Supports BTN's Steps to Become the Pride of Indonesia




642             PT Bank Tabungan Negara (Persero) Tbk
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                                                                                              2023 Annual Report




No            Date                                                                Title

11   January 31, 2023    Achieve Indonesia's Top 3 PLCs and ASEAN Asset Class. Bank BTN's GCG Implementation Gets Recognition in ASEAN

12   February 2, 2023    THROUGH BTN SOLUSI, IT'S YOUR TURN FOR GRAMEDIA CREW TO OWN A HOME

13   February 3, 2023    Priority BTN Customers Help Make People Have Their Dream Homes

14   February 7, 2023    Celebrating 73rd Anniversary, BTN SPREADS DISCOUNTS. SAVE THE DATE AND CHECK THE MERCHANT NOW

15   February 9, 2023    73 Years of BTN Service to the Indonesian Home

16   February 12, 2023   BTN Officially Launches BTN Mobile

17   February 14, 2023   WORKING ON SHARIA BUSINESS POTENTIAL IN PONTIANAK, BTN OPENS A BRANCH OFFICE

18   February 14, 2023   EVEN 18 YEARS OLD BTN SYARIAH REMAINS FOCUS ON SUPPORTING THE NATIONAL HOME PROGRAM

19   February 16, 2023   2022, BTN BOOKS PROFIT OF IDR 3.04 TRILLION

20   February 2023       BTN SYARIAH'S PROFITS HAVE ALMOST DOUBLE

21   February 17, 2023   Bank BTN Supports MSME Product Shopping Program

22   February 27, 2023   BTN Syariah Ready to Expand Home Financing in Aceh

23   March 6, 2023       COLLABORATION OF BTN AND BAKTI BUMN VOLUNTEERS TO PRESS STUNTING IN KOLBANO VILLAGE, NTT

24   March 7, 2023       BTN ENCOURAGES DIGITALIZATION OF TRADITIONAL MARKETS

25   March 12, 2023      BTN DISTRIBUTES HUNDREDS OF MILLIONS TO PRESS STUNTING IN KOLBANO

26   March 17, 2023      BTN Urges Customers to Maintain Data Confidentiality

27   March 19, 2023      Active BTN Mobile Users Soar

28   March 19, 2023      BTN Replaces Funds If Customers Are Not Involved in Fraud

29   March 20, 2023      Now Indonesian Cement Distributors Can Take Advantage of BTN Banking Services

30   March 24, 2023      BTN is optimistic that in 2023, performance will be even more brilliant

31   March 27, 2023      HIGH POTENTIAL, BTN AMBON OFFERS BUNDLING ENTREPRENEURSHIP PACKAGE AND LIGHT EMPLOYEE CREDIT

32   April 5, 2023       Encouraging Business Performance, BTN Syariah Collaborates with Makassar Muhammadiyah University

33   April 8, 2023       BTN Holds Business Savings Road Show at Tanah Abang Market, Jakarta

34   April 10, 2023      TO WELCOME THE EID HOLIDAY, BTN PREPARES IDR 26 TRILLION IN CASH

35   April 12, 2023      BTN RELEASES THR MUDIK PROGRAM

36   April 14, 2023      RAMON ARMANDO APPOINTED AS BTN CORPORATE SECRETARY

37   April 18, 2023      Spreading the Blessings of #RamadanFromHeart, Dompet Dhuafa and BTN Syariah Collaborate to Honor Orphans

38   April 18, 2023      BTN and Press Personnel Share Basic Food Packages

39   April 26, 2023      BANK BTN CREDIT AND FINANCING EXCEEDS IDR 300 TRILLION

40   April 27, 2023      BTN Syariah Net Profit Soars 40%

41   May 3, 2023         BANK BTN ADDED NEW CONTACT CENTER NUMBER 150286

42   May 18, 2023        BTN Syariah services are considered satisfactory. This is the fact

43   May 31, 2023        Bank BTN is Committed to Resolving Problematic Certificates

44   May 31, 2023        Encouraging Economic Growth, BTN is Ready to Hold Mass Contracts for 10,000 KPR Units in One Day

45   June 7, 2023        Legitimate! OJK Approves Nixon LP Napitupulu to Become Managing Director of BTN

46   June 10, 2023       MAKES HISTORY, BTN WINS HIGHEST PEFINDO RATING

47   June 13, 2023       BTN MOBILE MAKES FOREX TRANSACTIONS EASIER

48   June 16, 2023       Boosting Non-Subsidized KPR Market Share, BTN Inaugurates KPR Sales Center

49   June 21, 2023       One Year Celebration of PLUS by BTN Prioritas Holds Roadshow in Medan

50   June 21, 2023       ATM Dibobol, BTN Pastikan Tidak Ada Uang yang Hilang

51   June 22, 2023       COOL! BTN SYARIAH WINS THE BEST ISLAMIC PROJECT FINANCE HOUSE 2023 FROM EUROMONEY

52   June 23, 2023       DKI Jakarta Anniversary, BTN Jakarta Run 2023 Ready to be Held




                                                                          PT Bank Tabungan Negara (Persero) Tbk                 643
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                                                        Corporate
                                                        Governance




No             Date                                                                Title

                           BECOMING THE BEST MORTGAGE BANK IN SOUTH EAST ASIA, BTN BIDDING FOR CHEAP FUNDS OF IDR 270
53    June 23, 2023
                           TRILLION IN 2025

54    June 28, 2023        Bank BTN Wins FinanceAsia 23rd Best Companies in Asia Award

55    July 9, 2023         BTN Syariah security guard services are considered satisfactory, this is one of the keys

56    July 17, 2023        BTN OPENS SUPPORTING BRANCH OFFICE IN SOREANG

57    July 17, 2023        BTN SUPPORTS FINANCIAL INCLUSION IN BALIGE TOURISM VILLAGE

58    July 20, 2023        BANK BTN PUSHES NTT'S ECONOMY

59    July 20, 2023        BTN JAKARTA RUN 2023 OFFICIALLY OPENS TOMORROW

60    July 21, 2023        NOT WANT TO LOSE WITH THE PARENT, BTN UUS PROFITS JUMPED BY ALMOST 50%

61    July 24, 2023        BTN MOBILE BECOMES MORE COMPLETE WITH INSTANT MENU FEATURES

62    July 25, 2023        BTN SYARIAH SUPPORTS HOME FINANCE FOR MUHAMMADIYAH CITIZENS

63    July 26, 2023        BTN PRIORITAS WINS ASEAN BANKING & FINANCE AWARD

64    July 28, 2023        BTN Syariah is targeted to become a BUS by the end of this year

65    July 31, 2023        EARN INTERNATIONAL AWARDS,

                           BTN NAMED BEST SAVINGS BANK INDONESIA 2023 IN THE UK

66    August 4, 2023       THE RELEASE OF A NEW PROGRAM, BTN MOBILE IS GETTING INCREASINGLY ATTENDED TO THE COMMUNITY

67    August 10, 2023      BTN Solusi Expansion, Bank BTN Aims for 22,000 Gramedia Employees

68    August 11, 2023      BTN Collaborates with UGM to Invite Students to Become Entrepreneurs

                           IMPLEMENTATION OF BRANCH TRANSFORMATION HAS A POSITIVE IMPACT ON BTN'S PRODUCTIVITY AND
69    Agustus 19, 2023
                           EFFICIENCY

70    August 24, 2023      Bank BTN Is Looking at Several Banks to Become Acquisition Targets to Support the Spin Off of Sharia Business Units

71    August 24, 2023      Allegedly carrying out a bank robbery attempt, Bank BTN is ready to report AH to the police

72    August 25, 2023      Bank BTN Launches Priority BTN KPR

73    August 29, 2023      Bank BTN Invites Students to Create Digital Mortgage Innovations

74    August 31, 2023      Nixon LP Napitupulu: Home is The One Solution to Monetize Infrastructure Development

75    September 6, 2023    Encouraging Optimization of Customer Services, IFG Life and BTN Establish Bancassurance Cooperation

76    September 9, 2023    Erick Thohir Appreciates Bank BTN Providing Homes for Football Athletes

77    September 14, 2023   Bank BTN Distributes Electric Cars to Loyal Customers

78    September 15, 2023   August 2023, BTN Credit Increases Almost Double Digits

79    September 21, 2023   Enliven China ASEAN EXPO 2023 (upper) Bank BTN Markets MSME Products to China

80    September 21, 2023   HI GEN Z, WANT TO HAVE A HOME? SEE THE BTN KPR SCHEME FOR AGES FROM 21 YEARS

81    September 26, 2023   Bank BTN CSR Wins International Award

82    October 5, 2023      Thanks to Transformation, Bank BTN Wins The Asian Experience Awards 2023

83    October 6, 2023      From looking for a house to applying for a mortgage, just access the BTN Mobile Super Apps

84    October 13, 2023     Ready to Become the Biggest, Bank BTN Encourages Aceh Millennials to Enter the Housing Business

85    October 13, 2023     BTN Syariah Ready to Become the Biggest Bank in Aceh

86    October 19, 2023     Encouraging Productivity, Bank BTN Focuses on Maintaining Employee Mental Health

                           TO OVERCOME THE BACKLOG THE GOVERNMENT MUST IMMEDIATELY ISSUE LAW FOR THE PEOPLE'S HOUSES
87    October 23, 2023
                           – Pitching News

88    October 25, 2023     BTN POSITIVELY WELCOMES THE PROPERTY VAT-FREE STIMULUS

89    October 28, 2023     Involving Santri to Overcome Backlog, Bank BTN Educates Santri to Become Developers

90    November 1, 2023     The number of registrants is increasing, BTN officially closes registration for the 2023 BTN Jakarta Run

91    November 5, 2023     Runners from 21 countries celebrate the 2023 BTN Jakarta Run




644       PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




 No            Date                                                              Title

 92    November 23, 2023   BTN OPTIMISTIC THAT KPR WILL GROW HIGHER IN 2024

 93    November 24, 2023   Bank BTN Targets Thousands of New Families with Wedding Festival and Housing Exhibition

 94    November 27, 2023   BTN SYARIAH PROFITS ROOKET TO ABOVE 70%

 95    November 28, 2023   Sharia Bank Acquisition Plan, BTN Aims for More Cheap Funds

 96    November 28, 2023   BTN Optimistic that Property Incentives Will Trigger KPR Growth

 97    November 29, 2023   QUARTER III/2023, BANK BTN ONTRACK PROFIT

 98    December 6, 2023    BANK BTN COLLECTS WITH MCI TO FORM BTN FUND

 99    December 14, 2023   Welcoming the Christmas and New Year Holidays, Bank BTN Prepares IDR 19.68 Trillion in Cash

 100   December 18, 2023   47 Years of Distributed KPR, Bank BTN Makes the Dream of 5.6 Million Indonesians a Reality to Own a Home

 101   December 18, 2023   BBTN PROSPECTS 2024

 102   December 18, 2023   Welcoming the New Year, BTN Presents 4 New Features on BTN Mobile


Bulletin




                  Edition I in 2023                                                      Edition II in 2023




                 III Edition in 2023                                                     IV Edition in 2023




                                                                          PT Bank Tabungan Negara (Persero) Tbk                   645
Page 277
                                                             Corporate
                                                             Governance




Transparency In Report Submission

The Company fulfills its obligations to Stakeholders and the OJK in accordance with provisions, including those related to transparency
and publication of financial and non-financial conditions as follows:
• Other information aimed at supporting information disclosure, financial education and services to the community


Bank BTN Financial Literacy and Inclusion
• Report on the Implementation of Financial Literacy and Inclusion Activities in 2023: reported every quarter (March, June, September,
   December)
• Financial Literacy and Inclusion Activity Planning Report for 2024: reported in November 2023


Various Financial Literacy and Inclusion activities that have been reported to the regulator (BI and OJK) are as follows:
• Financial Literacy in 2023

                                                                                                           Period
 No         Stream             Scope                       Name of activity                                                      Freq
                                                                                                 Start                Ended

                                               Entrepreneurship talk show with guest stars
 1.     Funding          Financial Education                                                  01/23/2023            01/29/2023   1 time
                                               Alan Budi Kusuma and Susi Susanti

 2.     Lending          Financial Education   Marketing and Developer Gathering              05/04/2023            05/04/2023   1 time

                                               Educate customers about information
 3.     Digital          Financial Education                                                  01/01/2023            12/31/2023   1 time
                                               security

 4.     Inclusion        Financial Education   SIMOLEK Program (West Java)                    07/01/2023            09/30/2023   1 time

                                               SIMOLEK Program (Kupang, Surabaya,
                                               Denpasar, Malang, Mataram, Bangkalan,
 5.     Inclusion        Financial Education                                                  07/27/2023            09/08/2023   1 time
                                               Madiun, Jember, Kediri, Singaraja,
                                               Banyuwangi)

                                               SIMOLEK Program (Makassar,
 6.     Inclusion        Financial Education                                                  08/09/2023            08/09/2023   1 time
                                               Palangkaraya, Gorontalo)

                                               Socialization of cash waqf in the
 7.     Funding          Financial Education                                                  08/01/2023            12/20/2023   1 time
                                               educational environment

        Communication
 8.                      Financial Education   SRIKANDI goes to Campus                        08/14/2023            08/14/2023   1 time
        & Partnership

 9.     Funding          Financial Education   BTN Market beat September 2023                 09/16/2023            09/16/2023   1 time

                                               Socialization of the subsidized KPR
 10.    Lending          Financial Education                                                  10/19/2023            10/19/2023   1 time
                                               program

                                               Education and Training for young
 11.    Lending          Financial Education   Developers in collaboration with HFC (Santri   10/28/2023            10/28/2023   1 time
                                               Developer & Millennial Developer)

                                               Training and Empowerment of the
 12.    Lending          Financial Education   community to become entrepreneurs              11/09/2023            11/09/2023   1 time
                                               through the Bank BTN Business Camp

                                               Financial Literacy of Prospective Indonesian
 13.    Lending          Financial Education                                                  12/14/2023            12/14/2023   1 time
                                               Migrant Workers and Japanese Interns




646          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                 2023 Annual Report




•    Financial Inclusion in 2023

                                                                                                          Period
    No       Stream            Scope                       Name of activity                                                      Freq
                                                                                                Start                 Ended

1.       Digital          Access Expansion     Launching Super Apps BTN Mobile               02/09/2023            05/31/2023   1 time

                         Providing financial
                                               Improved BTN Call 150286 & 1500286
2.       Reporting        products and/or                                                    05/03/2023            05/03/2023   1 time
                                               Services
                              services

                                               Inauguration of the KPR BTN Sales Center
3.       Lending          Access Expansion                                                   06/16/2023            06/16/2023   1 time
                                               to increase Market Share

                         Providing financial
                                               Mass KPR contract for 10,000 units at Puri
4.       Lending          products and/or                                                    08/08/2023            08/08/2023   1 time
                                               Delta Tigaraksa Housing Complex
                              services

                         Providing financial
                                               Increased KPR distribution for the Sharia
5.       Lending          products and/or                                                    09/09/2023            09/26/2023   1 time
                                               and Sports Sectors
                              services

                         Providing financial   BTN Bisnis savings roadshow with Alan
6.       Lending          products and/or      Budi Kusuma and Director of Distribution      09/23/2023            09/23/2023   1 time
                              services         Funding

                                               Addition of BI-FAST and other payment
7.       Digital          Access Expansion                                                   01/01/2023            12/31/2023   1 time
                                               features to BTN Mobile (Mobile Banking)

                         Providing financial
                                               BTN Preneur activities take the form of an
8.       Lending          products and/or                                                    01/01/2023            12/31/2023   2 times
                                               MSME Bazaar assisted by Bank BTN
                              services

                                               Opening of branch offices and sub-branch                                            19
9.       Inclusion        Access Expansion                                                   01/01/2023            12/31/2023
                                               offices (Conventional and Sharia)                                                 times

                                               The addition of mobile cash cars
                                               (BTNMove) in 2023 to increase the
10.      Inclusion        Access Expansion                                                   01/01/2023            12/31/2023   8 times
                                               availability of access to Bank BTN products
                                               and services

                         Providing financial
                                               Ghatering to increase the use of SBN
11.      Funding          products and/or                                                    07/10/2023            07/10/2023   2 times
                                               Perdana products
                              services




                                                                                 PT Bank Tabungan Negara (Persero) Tbk           647
Page 279
                                                              Corporate
                                                              Governance




Code of Conducts

The Code of Conduct is a manifestation of the Company’s commitment to ensure the application of high standard GCG that refers to the
best practices of credible and trusted banking institutions. Credibility and trust from the public, shareholders and customers are determining
factors for the development and continuity of the Company’s business. The Company’s business activities must comply with applicable laws
and regulations and uphold norms and ethics. Awareness of good ethics implementation will enhance and strengthen the positive image of
the Company and make it recognized as a Good Corporate Citizen. Therefore, the Company always upholds its integrity by preserving and
applying the Code of Conduct as the basis of the attitudes and actions of all Company personnel to work professionally and ethically by using
basic principles that refer to the vision, mission, and values as well as applicable internal and external regulations.


Vision, Mission and Corporate Culture Values as The Foundation of The Code of Conduct

The Company has formulated several policies that serve as ethical and behavioral guidelines for each element of the Company in performing
business activities. The Company strives to apply ethical and behavioral standards in all of its business activities in accordance with its vision,
mission, and cultural values through the enforcement of the Code of Conduct.




          Vision and mission                                                                                 Business Ethics Standards

                                                      Code of Conduct Perseroan

             Cultural Values                                                                                   Standards of Conduct




Vision
To be Best Mortgage Bank in Southeast Asia by 2025


Mission
1. To actively support the government in advancing the wellbeing of Indonesians through home ownership.
2. To realize the life dreamed by millions of Indonesians through the provision of a decent home.
3. To become the home of Indonesia’s best talent.
4. To increase shareholder value by focusing on sustainable profitability growth as a blue chip company with solid risk management
   principles.
5. To become the financial partner to stakeholder within the housing ecosystem by providing end-to-end solutions and excellent service
   through digital innovation.




648          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                2023 Annual Report




Corporate Culture Values
Corporate culture values are reflected in the AKHLAK culture as the Company’s core values and consist of 18 core behavioral guidelines
as follows:



                               Culture Value                                         Main Conduct AKHLAK


                                                               • Fulfill promises and commitments;
                       Trust                                   • Take responsibility for the decisions, tasks and actions
                       Hold fast to the trust given            • taken;
                                                               • Adhere to moral and ethical values.




                                                               • Increase self-competence to respond to ever-changing
                       Competent                               • challenges;
                       Continue to learn to develop
                                                               • Help others learn;
                       capabilities
                                                               • Completing tasks of the highest quality




                       Harmonious                              • Respect everyone regardless of background;
                       Caring for each other and               • Likes to help others;
                       respecting differences                  • Building a conducive work environment.




                                                               • Maintaining the good name of fellow employees, leaders,
                       Loyal                                   • BUMN and the State;
                       Dedicated and prioritizing the          • Willing to make sacrifices to achieve a greater goal;
                       interests of the nation and state       • Obey the Leaders as long as it does not conflict with law
                                                               • and ethics.



                       Adaptive                                • Quickly adjust to become better;
                       Continue to innovate and be             • Continuously making improvements following technological
                       enthusiastic in moving or facing        • developments;
                       change                                  • Act proactively




                                                               • Providing opportunities for various parties to contribute;
                       Collaborative                           • Open in working together to produce added value;
                       Build synergies
                                                               • Mobilizing the use of various resources for common goals.




                                                                          PT Bank Tabungan Negara (Persero) Tbk                649
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                                                               Corporate
                                                               Governance




Contents of The Code of Conduct

The Code of Conduct contains ethical and behavioral standards for the Company as a business entity and all its elements in interacting
with various internal and external interested parties. The application of the Code of Conduct aims to realize ideal behaviors that develop
into a work culture based on the noble values believed by the Company. The Code of Conduct is summarized into 4 chapters which are
briefly described as follows:


                       This Code of Conduct is the codification or a compilation of policies, employee regulations, and agreements that have been
                       jointly established between the Company and employees who will influence, shape, and set forth the standards of behavior, both
                       for Management and employees in performing all business activities.

 01. Introduction      The implementation of the Code of Conduct, either Compliance or Non-Compliance, becomes one of the aspects assessed in
                       the employee’s performance appraisal. Therefore, the Code of Conduct will always be used as a guideline in the formulation of
                       policies, manuals/procedures and management practices in the Company. The consistent application of the Code of Conduct will
                       demonstrate the Company’s efforts in upholding noble business values and ethics in conducting business, while simultaneously
                       reinforcing the principles of Good Corporate Governance.

                             Bank Ethics with Employees
                        1.   Fair employee treatment, employee discipline, and prohibition of employee involvement in the Bank’s securities business
                             activities.

                             Bank Ethics with Customers
                        2.   The Bank prioritizes customer satisfaction and trust and employees are required to support the Bank’s efforts to achieve
                             customer satisfaction.

 02. Business Ethics         Bank ethics with suppliers of goods and services
     Standards          3.   The selection of suppliers of goods and services must be based on an assessment of ability, achievement, compliance and
                             objectivity in price, quality, availability, requirements and services provided by partners/suppliers

                             Bank Ethics with Competitors
                        4.
                             The Bank views competitors as drivers of continuous performance improvement.

                             Bank Ethics with Partners
                        5.   The Bank upholds mutual trust and respect, as well as togetherness with business partners in accordance with applicable
                             business principles.

                             Bank Ethics with the Government
                        6.
                             The Bank is committed to complying with prevailing laws and regulations..

                             Bank Ethics with Society
                        7.   The Bank is committed to making a positive contribution to sustainable economic development by paying attention to social
                             responsibility with an emphasis on balancing economic, social, and environmental aspects.

                             Bank Ethics with Mass Media
                        8.
                             The Bank views the mass media as partners and the means of conducting promotions to build a constructive image.

                             Bank Ethics with Professional Organizations
                             The Bank fosters good cooperative relationships with professional and regulatory organizations in the context of sharing
                        9.
                             information and experiences, discussing businessdevelopments, and finding the best solutions of problems of mutual
                             interest.

                             Employees at all times must avoid conditions, situations or the impression of any Conflict of Interest and the inappropriate
                        1.
                             use of position.
 03. Behavioural
                             Each member of the Board of Commissioners, Board of Directors, and Bank employees are prohibited from giving and/or
     Standard Policy    2.
                             receiving something for their own benefit, either directly or indirectly, from business partners who can influence decisions.

                        3.   Company organs and Bank employees must comply with legislation and Bank regulations

                       Each Bank employee must report any evidence of a deviation from the Corporate Code of Conduct to the Human Capital
                       Management & Culture Specialist Division and the identity of the reporter is to be protected. The Division then follows up on each
 04. Implementation    report and submits the results of the study to the Board of Directors and/or Commissioners in accordance with the scope of their
     and Enforcement   responsibilities. Finally, the Board of Directors and Commissioners will make a decision regarding the various actions available,
                       such as coaching, disciplinary sanctions and/or corrective and preventive actions that are required to be performed by direct
                       superiors in their respective work environments.




650          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




Compliance With the Code of Ethics                                      build integrity in preventing corruption within the Company
                                                                        through participation in training as an Integrity Building
The Code of Conduct applies to all Management (Board of                 Expert (API) and in collaboration campaign with the KPK on
Commissioners and Board of Directors) and employees in                  preventing corruption through various communication media
carrying out every business activities and interacting with all         channels;
stakeholders. The statement of compliance with the Code of         4.   Implementing the Gratification Control Program in
Conduct at all levels of the organization is officially stated          accordance with the established Work Plan and reporting its
through the Board of Directors’ Regulation No.16/PD/                    results to the KPK on a quarterly basis;
CMPD/2015 dated December 31, 2015 on Code of Conduct.              5.   Managing gratification reports from all work units and
The Company requires its personnel to sign a statement of               reporting them to the KPK in accordance with the provisions;
compliance with the Code of Conduct called the Integrity           6.   Implementing ISO 37001:2016 Anti-Bribery Management
Pact and to apply the Code of Conduct. The successful                   System (SMAP) as a manifestation of Business Ethics and
implementation of the Code of Conduct is the responsibility             Behavior listed in the Code of Conduct;
of all leaders in their respective work units. Therefore, they     7.   Implementing the Whistleblowing System (WBS) program;
are required to provide understanding of the Code of Conduct       8.   Punishment for employees who violate business ethics.
implementation to their employees.                                 9.   and others.


Socialization of the Code of Conduct and the                       Type of Sanctions of Code of Conducts
Enforcement Efforts
                                                                   The Company classifies sanctions for each violation of the Code
The Code of Conduct is disseminated to all employees of            of Conduct in two types, namely:
the Company through the Digital Room for E-learning                1. Administrative sanctions
Modules (DREAM) media and a Code of Conduct quiz is                 Sanction       Types of                                Construction
                                                                                                   Types of Sanctions
provided to determine employee understanding of the Code of         Category      Sanctions                                  Period
Conduct. Commitment to the Code of Conduct implementation                         Light Letter
                                                                                                 Verbal warning
is also stated in the Integrity Pact which must be signed by all                  A
                                                                    Light         Light                                    3 (three)
Directors, Commissioners and Employees of the Company. In                                        Written warning
                                                                    Sanctions     Letter B                                 months
addition, the Code of Conduct can also be accessed by all of
                                                                                  Light Letter   Statement of
the Company’s Stakeholders through the Company’s website.                         C              dissatisfaction
                                                                                  Medium
                                                                                                 Don't get vacation pay
Efforts To Implement and Enforce                                                  Letter A
                                                                                                                           1 (one) year
The Code of Conduct                                                               Medium         Do not get regular
                                                                    Medium
                                                                                  Letter B       salary adjustments
                                                                    Penalty
                                                                                                 Person Grade reduction
The Company provides strict and consistent sanctions against                      Medium
                                                                                                 by 1 (one) grade (basic
                                                                                  Letter B
violations of the Code of Conduct. The imposition of sanctions                                   salary adjusted)
for violations committed by the Board of Commissioners and                                       Decreased person
                                                                                  Letter A       grade by a minimum of
Directors is based on the Company’s Articles of Association and
                                                                                  Weight         2 (two) grades (basic
GMS resolutions. While the imposition of sanctions for employees                                 salary adjusted)
is carried out in accordance with applicable employment             Heavy         Letter B       Termination of
                                                                                                                           2 (two) years
regulations. The Company’s efforts to implement and enforce the     Sanctions     Weight         employment (PHK)
Code of Conduct in 2023 include:                                                                 Termination of
                                                                                  Letter B       employment and
1. Completion and signing of the Integrity Pact by all employees
                                                                                  Weight         reporting to the
    in accordance with the Code of Conduct values;                                               authorities.
2. Internalization of the Code of Conduct, Gratification
    Control and Anti-Bribery Management System (SMAP) to
    all Employees through Digital Room for E-learning Modules      2. Financial Sanctions
    (DREAM);                                                          Financial sanctions mean compensating for all financial
3. Cooperating with the KPK through the Professional with             losses that arise as a result of a disciplinary violation.
    Integrity (PROFIT) program which includes competent HR to




                                                                        PT Bank Tabungan Negara (Persero) Tbk                          651
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                                                          Corporate
                                                          Governance




Number of Violations and Sanctions Given

                                                                       Number of Employees
         Sanction            Types of                                                                                          Total
 No
         Category           Sanctions                                                                                        Employees
                                            2018         2019           2020          2021         2022          2023

                         Light Letter A       22           23            27            14             9            11            106

 1     Light Sanctions   Light Letter B       31           15            19            28             5            15            113

                         Light Letter C       24           25            47            35             6            11            148

                         Medium Letter A      18           69            62            54             8            15            226
       Medium
 2     Penalty           Medium Letter B      13           53            32            21            10            12            141

                         Medium Letter C       9           45            31            16             9            10            120

                         Letter A Weight       2            5            10             5             3             1             26
       Heavy
 3     Sanctions         Letter B Weight      22           40            24            19            42            43            190

                         Letter B Weight       0            0              6            3             3             1             13

       TOTAL                                141          275            258          195             95          119           1,083




                                                                        3. LTI is a reward program widely used in the industry to support
Policy of Long-Term Performance-based                                      the Company’s long-term performance.
Compensation to Management
                                                                        Employees receiving LTI are the holders of the key positions
Performance-based long-term compensation to management is               with strategic roles as the alignment of Corporate objectives,
carried out in the form of 2 (two) programs which are provided          who also serve as the supervisor and controller of performance
in the form of Company shares, namely:                                  achieved by their respective Divisions/Regional Offices/Branch
1. Long Term Incentive (LTI)                                            Offices. These include L1 and L2 structural positions, i.e. Head
2. Long Term Bonus                                                      of Division, Head of Regional Office, Head of Branch, Head
                                                                        of Sharia Branch, Deputy / Deputy Head of Division, Deputy
In order to improve the Company's performance in the long               Regional Manager Business, Deputy Regional Manager Support,
term so that the Bank can grow and develop well, since 2020             Department Head, Deputy Branch Manager and Deputy Service
the Company's management has decided to provide Long Term               Manager, Commercial Banking Center (CBC) Head, CBC
Incentive (LTI) variable incentives/remuneration for employees at       Manager, Commercial Risk Head, Commercial Risk Manager,
management level in the form of the provision of Shares which           Regional Loan Processing Center (RLPC) Head and equivalent
are given in 3 (three vestings), namely 1st vesting in 2020, 2nd        positions L1 and L2 as determined by the Board of Directors.
vesting in 2021, and 3rd vesting in 2022, each vesting is carried
out for a locked up period of 3 (three) years. In 2023, as a            In the process of share buyback, the Company collaborates with
continuation of the previously implemented LTI program, a Long-         a securities company, PT Bahana Sekuritas, for the purchase
Term Incentive policy had been issued, namely giving bonuses in         and administration of shares enlisted under the name of each
the form of Company shares and carrying out a locked-up period          employee.
for a maximum of 3 (three) years.
                                                                        The LTI program for the employees will be run in phases for 3 years
The background to the provision of the Long Term Incentive (LTI)        in 2020, 2021 and 2022 with a total budget of Rp150 billion
program and long-term bonuses to employees, especially at the           which can be obtained by the employees through performance
managerial level, is as follows:                                        target achievement and other requirements set by the Bank, with
1. To boost long-term performance, to encourage future and              the following vesting distribution:
    long-term performance.                                              1. LTI phase 1/1st vesting in 2020, provided at maximum
2. To motivate the employees to contribute positively beyond the             50% of the total stock purchase budget for 3 years with
    Company targets,                                                         58,983,900 shares purchased on an average price of
                                                                             Rp958.55/share and distributed to 549 LTI recipients.




652         PT Bank Tabungan Negara (Persero) Tbk
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2. LTI phase 2/2nd vesting in 2021, provided at maximum              7. In case the reported party is the Directors and/or
   25% of the total stock purchase budget for 3 years with              Commissioners of a Subsidiary Company, the Independent
   15,936,000 shares purchased on an average price of                   WBS Manager will submit a report to the President Director
   Rp1,566.62/share and distributed to 599 LTI recipients.              of the Bank.
3. LTI phase 3/3rd vesting in 2022, provided at maximum 25%
   of the total stock purchase budget for 3 years and to be used     The Company also builds supporting infrastructure in
   for BBTN share purchase in 2022.                                  implementing WBS policy in which reporters can submit their
                                                                     reports through the following media:
Whistleblowing System                                                1. PO Box 2828 JKP 10028
                                                                     2. Website: https://idn.deloitte-halo.com/btnsiips
The Company's Violation Reporting System (WBS) policy                3. Email: btnsiips@tipoffs.info;
was guided by the Minister of BUMN Regulation No.PER-2/              4. SMS: +62 813 8870 1117
MBU/03/2023 dated March 3, 2023, concerning Guidelines               5. Whatsapp: +62 813 8870 1117
for Governance and Significant Corporate Activities of State-        6. Telepon: +62 21-50928882
Owned Enterprises and the OJK Regulation (POJK) No. 39/              7. Faximili: +62 21-50928883
POJK.03/2019 dated December 19, 2019 regarding the
Implementation of Anti-Fraud Strategy for Commercial Banks.          Whistleblower Protection
The Company’s WBS is part of the internal control system in
preventing the occurrence of irregularities and purposes to detect   The Company is committed to protect to every whistleblower.
early and prevent the occurrence of irregularities or violations     Protection to the Whistleblower is provided to support the courage
and gradually create an open, sincere, honest and responsible        of the Whistleblower in reporting alleged violations and/or if
work climate in the Company.                                         there is retaliation from the Reported Person. For whistleblowers
                                                                     who submit WBS reports that are recognized for their accuracy
Submission Mechanism of Violation Reports                            and good faith, the Company can provide protection guarantees
and WBS Channel                                                      as follows :
                                                                     1. Provision of free and confidential WBS Reporting Media. The
The mechanism for submitting violation reports through WBS is            reporter will get information on the status of the WBS report
carried out by reporting/ disclosing complaint and sending it            submitted by the Independent WBS Manager through the
based on indications who is the violator, including:                     designated media.
1. In case the Reported Party is the Company’s employee up           2. Guarantee of confidentiality of the Whistleblower’s identity,
    to 2 (two) levels below the Board of Directors and is not a          except if there is a lawsuit that requires this identity to be
    member of the Company’s WBS Team, the Independent WBS                disclosed before a judge.
    Manager will submit a report to the Company’s WBS Team.          3. Protection from countermeasures from the Reported Person.
2. In case the reported party is a Bank employee 1 (one) level           This protection may include:
    below the Directors and is not part of the WBS Team, the         a. Physical and/or psychological protection of both oneself and
    Independent WBS Manager will submit a report to the                  one’s family.
    President Director.                                              b. Protection of their property and family property against terror
3. If the reported party is the WBS Team, then the Independent           or retaliation that must be experienced.
    WBS Manager will submit a report to the Main Director.           c. Administrative protection in the form of postponement
4. If the reported party is the Board of Directors, the                  of promotion, dismissal, exclusion from the workplace,
    Independent WBS Manager will submit a report to the Board            inappropriate transfers, including job security, etc.
    of Commissioners and WBS Manager of the Ministry of              d. Legal protection, in terms of litigation process based on the
    State-Owned Enterprises (BUMN).                                      applicable provisions.
5. In case the reported party is a commissioner and/or committee
    under the Board of Commissioners, the Independent WBS            The Handling of Complaints
    Manager will submit a report to the Commissioners and
    Committee Members under the Board of Commissioners who           The Company has collaborated with Corruption Eradication
    are not related to the complaint and the WBS Manager of          Commission (KPK) of the Republic of Indonesia regarding WBS
    the Ministry of State-Owned Enterprises (BUMN) (specifically     handling in an effort to eradicate corruption. The collaboration
    when the reported party is the Commissioner).                    purposes to build and improve the effectiveness and efficiency
6. In case the reported party is a joint Commissioner, the           of handling complaints both internally and externally that are
    Independent WBS Manager will submit a report to the              integrated in a professional, transparent, accountable manner
    WBS Manager of the Ministry of State-Owned Enterprises           by prioritizing confidentiality in the context of optimizing the
    (BUMN).                                                          eradication of corruption




                                                                         PT Bank Tabungan Negara (Persero) Tbk                  653
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                                                        Corporate
                                                        Governance




Every coming reports will be followed-up by WBS Team with the following mechanism:
1. If the Reported person is a Bank employee (up to 2 levels below the Board of Directors and not the WBS Team



        Reporter       Independent WBS Manager                         WBS Team                    Special Audit Team   Related Work Units




           Start
                                                                                                           No            7b. WBS report out
                                                                                                                         of scope




                            2. Input WBS
     1. WBS report                                     4. Analysis
                            Application

                                                                       WBS report
                                                                       in scope/out of             7a. WBS reportin
                                                                       scope                       scope


                        3. Classify
                        WBS report
                                                       5. Sufficient
                                                                           Yes               Yes
                                                       Information
                                      WBS report
                                      in scope/out
                                      of scope


     12a Provide                                                       6. Eligible Special         8a. Follow-up         8b. Follow-up
     Feedback                                                          Audit




                                                                       9. Memo/other
     Additional         11. Ask the reporter to
                                                         No            documents following
     information        complete the information
                                                                       up the WBS report




                                                                       10. Closing Status
     12b. Not                                                          Report
                        13. Informing reporting does
     Providing
                        not provide feedback
     Feedback
                                                       Finish




654          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                        2023 Annual Report




2. If the Reported Person is a Bank employee (1 level below the Board of Directors) and not the WBS Team



         Reporter         Independent WBS Manager               President director                      Special Audit Team   Related Work Units




                                                                                                                             7b. WBS report
            Start                                                                                                No          out of scope




                               2. Input WBS
       1. WBS report                                        4. Analysis
                               Application

                                                                            WBS report                  7a. WBS report in
                                                                            in scope/out of             scope
                                                                            scope



                           3. Classify WBS
                           Reports
                                                            5. Sufficient
                                                            Information          Yes              Yes
                                     WBS report
                                     in scope/out of
                                     scope


     13a. Provide                                                                                       8a. Follow-up           8b. Follow-up
                                                                      6. Eligible Special
     Feedback                                                         Audit




                                                                            9. Memo/other
      Additional           12. Ask the reporter to
                                                                            documents following
      information          complete the information          No             up the WBS report




                                                           15. Receiving
                           14. Informing reporting         information without
     13b. Not Providing
                           does not                        feedback
     Feedback
                           provide feedback




                                                                            10. Directions for
                                           11. Closing                      closing the Status
                            Finish
                                           Status Report                    Report




                                                                                   PT Bank Tabungan Negara (Persero) Tbk                      655
Page 287
                                                                Corporate
                                                                Governance




3. If the Reported Person is the WBS Team


       Reporter         Independent WBS Manager                  President director                    External Auditor Team       Related Work Units




                                                                                                                                    7b. WBS report
         Start
                                                                                                               No                   out of scope




                        2. Input WBS
     1. WBS report                                            4. Analysis
                        Application


                                                                       WBS report
                                                                       in scope/out of                   7a. WBS report in scope
                                                                       scope


                        3.Classifying WBS
                        Reports


                                       WBS report
                                                           5. Sufficient
                                       in scope/out of
                                                           Information
                                       scope
                                                                                  Yes            Yes




                                                             No
     13a. Provide                                                          6. Eligible Special
      Feedback                                                             Audit                         8a. Follow-up              8b. Follow-up




                                                                           9. Memo/other
     Additional         12. Ask the reporter to
                                                                           documents following
     information        complete the information
                                                                           up the WBS report




    13b. Not            14. Informing reporting           15. Receiving
    Providing           does not                          information without
    Feedback            provide feedback                  feedback




                                                                           10. Directions for
                                          11. Closing
                         Finish                                            closing the Status
                                          Status Report
                                                                           Report




656             PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                         2023 Annual Report




4. If the Reported Person is a Director


                       WBS Manager                                            Auditor Team      WBS Manager              President          Work unit
      Reporter                                 board of Commissioners
                       Independent                                              External       Ministry of BUMN           director           Related




        Start
                                                                                                                       13. WBS            15. WBS
                                                                                                                       report out of      report out of
                                                                                                                       scope              scope




                    2. Input WBS
   1. WBS report                                 5. Analysis
                    Application


                                                                                                                       14. Directions
                                                               WBS report
                                                                              8. WBS report                            for follow-up
                                                               in scope/                      4. WBS report in scope
                                                                              in scope                                 to the WBS
                                                               out of scope
                                                                                                                       report


                    3.Classifying WBS
                    Reports

                                                 6. Sufficient
                                                 Information       Yes                  No
                         WBS report
                         in scope/out of                                                                                                  16. Follow Up
                         scope



    19a. Provide                                        7. Eligible
     Feedback                                                                 9. Follow Up           Finished
                                                        Special Audit



                    18. Ask the reporter         No                Yes
                    to complete the
                    information
    Additional
                                                        10. Memo/
    information                                                                                                        17. WBS
                                                        other documents
                                                                                                                       report follow-up
                                                        following up the
                                                                                                                       document
                                                        WBS report




                    20. Informing
   19b. Not         reporting does not
   Providing        provide feedback            21. Receiving
   Feedback                                     information without
                                                feedback




                               12. Closing      11. Directions for closing
                               Status Report    the Status Report




                      Finish




                                                                                      PT Bank Tabungan Negara (Persero) Tbk                        657
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                                                                    Corporate
                                                                    Governance




5. If the Reported Person is a Commissioner and/or Committee below the Board of Commissioners



                                                Commissioners who
                                                                                SKAI Special
                                               are not related to the
                        WBS Manager                                             Audit Team/        WBS Manager               President        Related Work
     Reporter                                  complaint and are not
                        Independent                                           External Auditor    Ministry of BUMN            director            Units
                                              members of the relevant
                                                                                   Team
                                                    committee




        Start
                                                                                                                           13. WBS            15. WBS
                                                                                                                           report out of      report out of
                                                                                                                           scope              scope




                      2. Input WBS
   1. WBS report                                 5. Analysis
                      Application


                                                               WBS report                                                  14. Directions
                                                               in scope/       8. WBS report     4. WBS report in scope
                                                                                                                           for follow-up
                                                               out of scope    in scope          related to the Board of
                                                                                                                           to the WBS
                                                                                                 Directors
                                                                                                                           report

                      3.Classifying WBS
                      Reports

                                                 6. Sufficient
                                                 Information       Yes                   No

                          WBS report                                                                                                          16. Follow Up
                          in scope/out of
                          scope

    19a. Provide                                        7. Eligible
     Feedback                                                                  9. Follow Up               Finish
                                                        Special Audit



                      18. Ask the reporter      No                 Yes
                      to complete the
                      information
    Additional                                          10. Memo/
    information                                                                                                            17. WBS
                                                        other documents
                                                                                                                           report follow-up
                                                        following up the
                                                                                                                           document
                                                        WBS report




   19b. Not           20. Informing
   Providing          reporting does not        21. Receiving
   Feedback           provide feedback          information without
                                                feedback




                              12. Closing       11. Directions for closing
                              Status Report     the Status Report




                              Finish




658             PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                  2023 Annual Report




6. If the Reported Person is a Joint Commissioner



        Reporter                        Independent WBS Manager                                            Ministry of BUMN




           Start




                                                                                                         4. Receive WBS results
       1. WBS report                  2. Input WBS Application




                                                                                                  5. WBS in scope/out of scope report
                                       3. Classify WBS Reports




                                                         WBS report
                                                         in scope/out of scope



                                                                                         6. Follow up to determine steps for handling WBS reports
                                                                                                      according to the authority held




                                                8.Closing Status Report                             7. WBS Report Closing Directions




                                                         Finish




                                                                                 PT Bank Tabungan Negara (Persero) Tbk                         659
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                                                                  Corporate
                                                                  Governance




7. If the Reported Person is a Board of Directors and/or Commissioner of a Subsidiary



                                                                                                      Special Audit Team /      President Director of
     Reporter         Independent WBS Manager            President Director of the Bank
                                                                                                Subsidiary Company Audit Team   Subsidiary Company




                                                                                                                                   7b. WBS report
        Start
                                                                                                                                   out of scope
                                                                                                              No




                        2. Input WBS
    1. WBS report                                         4. Analysis
                        Application


                                                                          WBS report
                                                                          in scope/out of               7a. WBS
                                                                          scope                         report in scope



                        3.Classifying WBS
                        Reports

                                                          5. Sufficient
                                                          Information          Yes              Yes


                                       WBS report
                                       in scope/out of
                                       scope



    13a. Provide                                                          6. Eligible Special           8a. Follow-up              8b. Follow-up
     Feedback                                                             Audit




                                                                          9. Memo/other
     Additional         12. Ask the reporter to
                                                         No               documents following
     information        complete the information
                                                                          up the WBS report




                                                         15. Receiving
   13b. Not             14. Informing reporting          information without
   Providing            does not provide                 feedback
   Feedback             feedback




                                                                          10. Directions for
                                       11. Closing                        closing the Status
                         Finish
                                       Status Report                      Report




660             PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                      2023 Annual Report




Types of Violations That May be Reported                                     1. Head of Internal Audit Work Unit
                                                                             2. Deputy Head of Internal Audit Work Unit
The violation in question is an act that is against the law, unethical/      3. WBS management Unit led by a Head of Department in the
immoral acts or other actions that can harm the organization or                 Internal Audit Work Unit
stakeholders. Several examples of violations and/or irregular
practices that may be reported based on the WBS policy include               WBS Management Unit is a unit under the Internal Audit Work
the following:                                                               Unit in charge of handling all processes of implementing WBS
1. Behavior - Lifestyle                                                      duties in the Company’s organization. In addition, in managing
2. Fraud                                                                     complaints received on the WBS channel, the Company is
3. Conflict of Interest                                                      assisted by an independent third party.
4. Abuse of Authority
5. Bribery/Bribery                                                           Whistleblowing System Socialization
6. Gratuity
7. Blackmail                                                                 The Bank internalized the WBS by distributing guidelines for the
8. Miscellaneous Violations of Law                                           Implementation of the Whistleblowing System (WBS) Policy which
                                                                             was stipulated based on a Directors’ Circular Letter as well as
Violation Report Management                                                  direct sharing session presentations to all leaders and employees
                                                                             of the Bank. In addition, to reach all of the Bank’s stakeholders,
The WBS Management Structure consists of the Person in Charge                the Whistleblowing System socialization was also carried out
of implementation and the WBS Team. The Person in Charge                     through the Bank’s website and various media, such as internal
of implementation is the President Director while the WBS Team               newsletters, posters, standing banners, customer gatherings, live
consists of:                                                                 presentations of ethical guidelines, and WBS policies.




Total Complaints and Complaints Processes

The incoming complaints during 2023 amounted to 106 complaints consisting of 30 complaints via SMS/Phone/Whatsapp, and 76
complaints via Email/Website. Based on the number of incoming complaints, 79 complaints were not proven, 6 complaints were still in
the process of collecting information/follow-up, and the remaining 21 complaints had been processed and/or had been sanctioned. In
detail, the number of complaints forwarded to the audit process in recent years is as follows:

Table of WBS Complaints Forwarded to the Audit Process
                        Submission Method                                                        Follow-up

                                                                           Report still in the     The report has been
                                                                                                                            Report forwarded
                                                                                process             processed and/or
   Year                       SMS/                          Report                                                           to Investigators
              Letter/                       Email/                          (Audit Process/        has been completed
                           Telepon/ /                       closed                                                         (related to criminal
             PO BOX                         Website                       Reporting Process/          given sanctions
                               WA                        (not proven)                                                        acts general or
                                                                             Cross Division        (including sanctions
                                                                                                                               Corruption)
                                                                                Process)              administrative)

 2019            5              2            3                0                    1                         9                      0

 2020            3              2            9                0                    4                         10                     0

 2021            0              2            3                0                    0                         5                      0

 2022            0              1            1                0                    2                         0                      0

 2023            0              1            4                0                    0                         5                      0




                                                                                 PT Bank Tabungan Negara (Persero) Tbk                    661
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                                                          Corporate
                                                          Governance




Anti-Corruption Program                                                To implement the effectiveness of the implementation of the Anti-
                                                                       Bribery Management System (SMAP), the Company has an
Company is committed to eradicating corruption by encouraging          Anti-Bribery Management System (SMAP) organization based
the effectiveness of gratituity control policies implementation,       on SNI ISO 37001:2016 consisting of Governing Body, Top
the Whistleblowing System, Management of the Report Assets             Management and Anti-Bribery Compliance Function (FKAP).
of the State Administrator (LHKPN), as well as the Anti-Money          In this case, Governing Body is the authority of the Board of
Laundering Program (APU) and Counter-Terrorism Financing               Commissioners while the FKAP functions in the Compliance and
Program (PPT). In addition, the Bank also makes efforts to support     Governance Divisions.
the Anti-Corruption Program through the implementation of
Certification and Surveillance ISO 37001: 2016 Anti-Bribery            The management of the Anti-Bribery Management System
Management System (SMAP), the participation in the Integrity           (SMAP) had been running well according to the Guidelines for
Builder Expert Certification (API) and Anti-Corruption Instructor      the AntiBribery Management System (SMAP), including:
certification (PAKSI).                                                 1. Signing of Bank BTN’s Anti-Bribery Policy in 2023 by Top
                                                                           Management (dhi. President Director) and Governing Body
Programs and Procedures Conducted to Resolve                               (dhi. President Commissioner) to implement the Company’s
Corruption Practices                                                       Management’s commitment to anti-bribery.
                                                                       2. Conducted an assessment of changes in internal and external
Anti-Bribery Management System                                             issues that were relevant to the anti-bribery management
                                                                           system;
In line with the commitment to eradicate corruption, on August 11      3. Conducted an assessment of the effectiveness of actions
2020 Bank BTN had ISO 37001:2016 Anti-Bribery Management                   taken to address the risk of bribery;
System certification issued by the SNI ISO 37001:2016                  4. Conducted an assessment of opportunities for continuous
Certification Body for the implementation of ISO 37001:2016                improvement of the SMAP;
within the Company. The scope of ISO 37001:2016 certification          5. Internalizing SMAP and Whistleblowing System (WBS)
until 2023 is:                                                             through various socialization media to Debtors and Vendors
1. Procurement of goods and/or services at the Procurement                 to improve the quality of SMAP;
     and Fixed Asset Management Division (PFAD).                       6. Signing the Employee Integrity Pact related to SMAP
2. Commercial Credit in the Commercial Banking Division                    implementation commitment which is renewed annually on a
     (CMBD) and Corporate Banking Division (CBD).                          regular basis;
3. SME Credit Restructuring in all Regional Offices.                   7. Conducted an assessment of the work unit addition certified
4. Wholesale Credit Risk Division (WRD).                                   by ISO 37001:2016 SMAP.
5. Small Medium Enterprise Banking Division (SMBD).
6. Commercial Banking Center Jakarta Raya, Bintaro Jaya,               Bank BTN is committed to performing continuous improvement
     Bekasi and Bandung.                                               in implementing ISO 37001:2016 Anti-Bribery Management
                                                                       System to accomplish free from corruption, collusion, and
In order to maintain the ISO 37001:2016 certificate, from 24           nepotism Company. The Bank will always invite business
to 28 July 2023 an ISO 37001:2016 SMAP recertification                 partners/work partners to support the implementation of SMAP
audit had been carried out in the scope of Procurement and             ISO 37001:2016 in the Company by signing an Integrity Pact
Fixed Asset Management Division (PFAD), Commercial Banking             with the commitment that while working with the Company, will
Division (CMBD) and Corporate Banking Division (CBD) as well           not practice gratituities, bribes, or other actions that violate
as ISO 37001:2016 SMAP surveillance audit in the scope of              applicable laws and regulations.
Commercial Banking Center Jakarta Raya, Bintaro Jaya, Bekasi
dan Bandung SME Credit Restructuring in all Regional Offices           The implementation of the Anti-Bribery Management System
by the Certification Body. The Company successfully maintained         was expected to increase the trust of all Company stakeholders,
SMAP certification by obtaining a certificate for recertification      including business partners/work partners in establishing
and surveillance audit by ISO 37001:2016 SMAP Certification            cooperation and would increase the efficiency of business
Body. In addition, in order to expand the scope of ISO                 processes. The Company, as a financial institution needs to
37001:2016 SMAP, on December 14 to 20, 2023, an audit                  improve its reputation with efficient business processes, GCG,
was carried out by the Certification Body in the scope of Small        and following international standards, such as ISO 37001:2016.
Medium Enterprise Banking Division (SMBD) and 4 Commercial
Banking Centers (Jakarta Raya, Bintaro, Bekasi dan Bandung)
with the results of the entire scope successfully obtaining ISO
37001:2016 SMAP.




662         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                               2023 Annual Report




The final result that would be obtained by the Bank, with the                certification to the Head of the Compliance and Governance
application of ISO 37001:2016, was an increase in the                        Division (CMGD);
competitiveness of the Bank in the long term so that the Company        2.   Internal verification of participants from the Human Capital
would be healthier and grow in a sustainable manner. The                     Management Division (HCMD);
Company had also implemented SNI ISO 9001:2015 Quality                  3.   Socialization and Technical Guidance from LSP KPK and
Management System, namely the audit process in the Internal                  Compliance and Governance Division (CMGD);
Audit Division, the KPR process in the Non-Subsidized Mortgage          4.   In-depth material through e-learning from LSP KPK;
& Personal Lending Division, business processes in the Enterprise       5.   Fill in the APL-01 form (the biodata form for prospective
Risk Management Division, Compliance & Governance Division                   competency test participants);
and Learning Management Division.                                       6.   Fill in the APL-02 form (self-assessment form for competency
                                                                             test participants);
IMPLEMENTATION OF INTEGRITY DEVELOPMENT EXPERT (API)                    7.   Registration of participants via the LSP KPK link; 8.
CERTIFICATION PARTICIPATION                                                  Implementation of offline Assessments.
Participation in Integrity Building Expert Certification (API) was
achieved to strengthen the Company’s integrity system, notably          At the 2023 World Anti-Corruption Day (Hakordia)
in preventing corruption and as a commitment to the Company’s           Commemoration Event held by the Corruption Eradication
cooperation with the Corruption Eradication Commission (KPK) in         Commission (KPK) on Desember 12, 2023 at Istora Senayan
the Professional Integrity (PROFIT) program.                            Jakarta, the Corruption Eradication Commission awarded one of
                                                                        Bank BTN’s API certified employees as an Inspirational Integrity
API certification was certified personnel who were competent to         Building Expert in the Most Active API Category 2023. The
build a national standard integrity system in efforts to eradicate      award was given directly by the Vice Chairman of KPK, Mr.
and prevent corruption. The Bank attempts to construct an               Bapak Nurul Ghufron.
integrity system and sustainably strengthen the integrity system,
one of which was through API certification.                             IMPLEMENTATION OF PARTICIPATION IN ANTI-CORRUPTION
                                                                        EXTENSION OFFICER CERTIFICATION (ACEO)
The Company's employees who had been declared competent                  In supporting programs and efforts to prevent corruption from the
and received API certificates from 2019 to 2023 are 85                  Corruption Eradication Commission, the Bank has participated
employees. Competent API certification participants in the              in Anti-Corruption Extension Officer (ACEO) involving company
future are expected to become a trigger mechanism and could             employees and AERW. Until 2023, 36 people had been
implement the commitments that have been made in the form               ACEO certified. Anti-Corruption Extension Workers (ACEW)
of follow-up plans after certification, namely increasing integrity     were personnel who were occupationally certified as Anti-
awareness, creating risk profiles, and mitigating them regarding        Corruption Extension Workers, and had the scope of anti-
activities in work areas prone to corruption, encouraging the           corruption counseling in certain fields, and were assigned by
establishment and strengthening corruption prevention policies          their organization to execute anti-corruption counseling activities
in the work environment or agencies by executing internalization        within the scope of their organization and their organizational
through webinar activities and GCG socialization and                    networks.
Disciplinary Provisions to all employees in the work environment
on a regular and continuous basis.                                      The Company’s participation in the implementation of Anti-
                                                                        Corruption Extension Counselor (PAKSI) certification organized
The Company’s participation in the implementation of the                by the KPK Professional Certification Institute (LSP) KPK in 2023
Integrity Building Expert (API) certification organized by the KPK      starting from the e-learning process, Anti-Corruption Extension
Professional Certification Institute (LSP) in 2023 was followed         Candidate Training (PELOPOR) to the implementation of the
by 2 schemes, namely Main API and Young API consisting of               assessment on April 11-12, 2023 there were 8 employees and 1
2 batches, namely Batch 1 (February 14-15, 2023) and Batch              person from the Association of Employees’ Wives and Pensioners
2 (July 25-27 2023) starting from the e-learning process to the         (IIKPA) who were declared competent.
implementation of the assessment, there are 8 employees in the
implementation of the Main API certification and 18 employees           The steps involved in taking part in the Anti-Corruption Instructor
in the implementation of the Young API certification who are            (PAKSI) certification are as follows:
declared competent .                                                    1. Principle Permits Submission of participation and prospective
                                                                            participants’ proposals for Anti-Corruption Extension Officer
The steps taken to participate in the Integrity Building Expert (API)       certification to the Head of the Compliance and Governance
certification throughout the 2023 period were as follows:                   Division (CMGD);
1. Principle Permits Submission of participation and prospective        2. Internal verification of participants from the Human Capital
     participants’ proposals for Integrity Building Expert                  Management Division (HCMD);




                                                                             PT Bank Tabungan Negara (Persero) Tbk                  663
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3. Socialization and Technical Guidance from LSP KPK and                 representing the Main and Young Integrity Building Experts
   Compliance and Governance Division (CMGD);                            (API) class of 2023 by the Deputy of Education and Community
4. Implementation of E-Learning “Basic Knowledge of                      Participation of the KPK. It was hoped that this appreciation
   AntiCorruption and Integrity” which was done independently            would increase employee motivation in carrying out gratification
   (online);                                                             control and corruption prevention through gratification reporting
5. Fill out the Registration Form for Anti-Corruption Extension          and API certification as well as inspiration for all employees to
   Officer Candidate Training (ACEOCT);                                  become role models in each of their work units and strengthen the
6. Implementation of offline ACEOCT Training;                            integrity system in the Company in order to prevent corruption.
7. Registration of Anti-Corruption Extension Officer (ACEO)
   Assessment Certification through the LSP KPK link;                    Gratification Control
8. Implementation of an online Anti-Corruption Extension Officer
   Assessment (ACEO).                                                    Gratification control is an important aspect for the Company to
                                                                         preserve business activities in line with Business Ethics, which
COMMEMORATION EVENT OF WORLD ANTI-CORRUPTION                             highlights the significance of Integrity. The Bank enforces
DAY 2023                                                                 Gratification Control policies aimed at developing the principles
In commemorating World Anti-Corruption Day (Harkodia) on                 of GCG values and instilling the importance of Integrity with
December 21, 2023, Bank BTN carried out a series of activities,          all employees so that business activities are constantly founded
including disseminating anti-corruption messages through various         on Ethics and Responsibility. Gratification Control is likewise
media such as the Bank’s social media (Instagram, Facebook, and          compulsory so that the business interests are well maintained
Twitter), videos in the lift, Company LEDs on several roads, virtual     ethically and do not conflict with the provisions regarding the
backgrounds at video conference meetings of the Company’s                prohibition of Gratification.
employees, WhatsApp and email blasts to all of its employees,
the Hakordia theme banners in the Lobby of Bank BTN Tower                In line with the aim, Company implements a culture of not
                                                                         accepting gifts or rewards from customers, debtors, vendors,
The Peak Event of the 2023 World Anti-Corruption Day                     partners, work partners, and other third parties regarding the
(Hakordia) Commemoration in the Internal Bank BTN environment            services provided by employees in performing their duties. It
was held at the Bank BTN Tower on December 21, 2023 with                 usually experiences its peak in the days leading up to Religious
various activities ranging from strengthening the integrity of the       Holidays (Eid Mubarak, Christmas/New Year). The Company
resource person, Mr. Wawan Wardiana as Deputy of education               always announces in a widely distributed national newspaper,
and Community Participation of the KPK RI concerning the                 stating that the Board of Commissioners, the Board of Directors,
prevention of corruption in the business sector, the launching           and the Employees of the Company are fully committed to
of the gratuity reporting web, the awarding of awards for                declining the receipt of and/or requesting any gifts or presents
employees reporting gratuities, the symbolic use of API vests class      in any form either from or to our customers, debtors, partners/
of 2023, the announcement of the winners of the gratification            vendors, and other related third-parties.
and the exhibition of anti-gratification poster competition and the
exhibition of anti-gratification posters by employees.                   Company also persuades all customers, debtors, partners/
                                                                         vendors/work partners, and other parties who have or intend
The award for the gratification reporter was given by the                to conduct business relations with the Company to support this
Company’s Director of Human capital, Compliance and Legal to             commitment by not giving gifts or gifts of any kind, whether
3 selected employees who reported gratuities in 2023 in each             directly or indirectly. Notification regarding this matter is also
category, namely the gratification reporting category with the           made by the Bank through written letters to each customer,
highest number of reports and the gratification reporting category       debtor, vendor, partner, business partner, and other third parties
with the highest nominal amount, and 1 selected employee with            who conduct business relations with the Company.
the inspirational reporter category.
                                                                         MANAGEMENT OF GRATITUITY CONTROL
At the Hakordia event, appreciation was also given to 3                  Company’s sincerity in supporting the eradication of corruption
employees who won the 2023 anti-gratification poster design              was proved by collaborating with the KPK to sign a commitment
competition by the Compliance and Governance Division                    to implement the Gratituity Control Program within the Company
Head, and symbolic giving of API Vests to 2 (two) employees              since June 25, 2014. Based on this commitment, in 2015




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Company had internal guidelines and the Gratituity Control Unit                             4. Gratituity Control Manager.
(UPG) that played an active role in disseminating awareness and                             5. Gratituity Reporting Mechanism.
understanding of Gratituity and Anti-Corruption Control.                                    6. Gratituity Control Implementation.


Company established policies that guide the implementation                                  Since 2019, Bank BTN had collaborated with the Corruption
of the Company’s gratification control through Special Policy                               Eradication Commission (KPK) in the Professional Integrity
Number KK.6-A dated April 25, 2022, concerning Gratification                                movement (PROFIT) through the following activities:
Control Procedures and Technical Instructions Number PT.6-A.1                               1. Participation in training as an Integrity Builder (API) to
dated April 25, 2022, concerning Guidelines for Implementing                                    oversee corruption prevention efforts;
Gratification Control. As an initiative to support Gratification                            2. Participation in the Anti-Corruption campaign collaboration
Control. The circular letter regulates the following matters:                                   program with KPK through various communication media
1. General Provisions on Gratituity.                                                            channels;
2. Basic Principles of Controlling Gratituity.                                              3. Self-Assessment of adequate checklist of Corruption
3. Gratituity Category.                                                                         Prevention Procedure for a corporate (CEK).




GRATIFICATION REPORTING MECHANISM
The company has established gratification reporting as regulated in Special Policy Number SP. 6-A issued on April 25, 2022, on the
Gratification Control Procedure and Technical Instructions Number TI.6-A issued on April 25, 2022, on the Instructions for Gratification
Control Implementation, with the following steps:




                     1                                2                                 Gratification Control Unit

                                                     Delivered via the web                     UPG
                          Filling in form      (maximum 10 HK from acceptance)
                     via the CRMS website       to UPG or (maximum 30 HK from
   REPORTER                                           acceptance) to KPK                      CMGD
                                                                                                                                          3
                                                                                                                                 Recapitulation Report       Analysis Results on
                                                                                                                                and Review (10 LAWS)        Report Recapitulation
                                                                                            Verification     Reviews               KPK Goal System              & Reviews
                                                                                           Completeness     Document



                                   The SK is handed over to the
                 4                       Reporting Party
                                     (7HK since established)

                                                                                 Managed by the Agency       Gratification
                                                                                                           Determination SK
                                    State Owned Gratuities
             5               (submitted 7 HK since the decree was
                                            issued)


                                                                                                                                                                     Analysis
                                                                                                                                 Verification   Request for Data
                                                                                                                                                                    and Status
                                                                                                                                Completeness    and Information
                                                                                                                                                                   Determination




                                                                                                                                          6
                                                                                       Cash Account             KPKNL
                                                                                         Country              KEMENKEU




                                                                                                 PT Bank Tabungan Negara (Persero) Tbk                                    665
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Gratification Reporting Mechanism Figure Description:                    6. In the case of gratification in the form of cash, then the KPK
1. Employees report the receipt of Gratification to the Corruption          will deposit the cash that has been rendered by the reporter
   Eradication Commission (KPK) through the UPG (d. CMPD)                   to the account of the State Treasury and then submits the
   by filling out forms no later than 10 working days from the              evidence of its deposit to the reporting party. Whereas if
   date the gratification was received. Gratification received by           the gratification rendered is in the form of goods, the KPK
   the reporting party is to be kept by the reporting party until           will submit it to the Directorate General of State Assets and
   a decree from the KPK regarding the ownership status of the              submit the evidence of submission to the reporting party.
   intended gratification is issued.                                     7. In the event that the gratification is in the form of money,
2. Submission of the form is sent via UPG e-mail address: upq.              the Corruption Eradication Commission (KPK) then deposits
   btn@btn.co.id. The form used in this Circular Letter is adjusted         the money that has been handed over by the reporter to the
   to the type of gratification received, with the following                State Treasury account and submits proof of the deposit to
   explanation:                                                             the Reporter. Meanwhile, if the gratification handed over is
   a.Use Form 1, if the gratification is in the form of cash and            in the form of goods, the Corruption Eradication Commission
         includes bribery gratification;                                    will hand it over to the Directorate General of State Assets
   b. Use Form 2, if the gratification is obtained from official            and submit proof of handover to the Reporting Party.
         activities;
   c. Use Form 3, if the gratification is in the form of foods/          REPORTS REGARDING THE GRATIFICATION RECEIPT
         drinks/parcels to welcome the holiday season. But if            Throughout 2023, there were 78 reports of gratification received
         the gratification associated with the holiday season is         from the head office and branch offices, which consisted of
         provided in the form of money/vouchers/goods then               reports concerning bribery, official gratification, and gratification
         continue to use Form 1. Other aspects that must also be         of parcels in the lead-up to religious holidays or gratification
         considered in completing the data on the form are the           rejection.
         inclusion of Work Units, positions, detailed descriptions
         regarding the chronology/events of the gratification
         referred to as well as any contact telephone numbers and        Number of Gratification Reports in the Last 3 Years
         e-mail addresses provided in the process of clarifying
                                                                                                          83
         reports by the UPG and the KPK.                                                                                 78

3. The UPG continues the Gratification report to the KPK within
   10 working days after the Gratification report was received
   by the UPG. Then the KPK handles the Gratification report
   which includes the:
                                                                                          24
   a. Verification of the comprehensiveness of the Gratification
         report;
   b. Request for additional data and information from the                              2021            2022           2023
         related parties;
   c. Analysis of the receipt of Gratification; and
   d. The determination of the ownership status of the                   In 2023, one of Bank BTN’s employees was awarded by the
         Gratification. The process to determine the status              KPK at the World Anti-Corruption Day Commemoration Event
         regarding the receipt of Gratification reports is within 30     (Hakordia) held by the KPK at Istora Senayan Jakarta on
         working days after the Gratification report was received        December 12, 2023. The award was directly given by the
         by the KPK in full.                                             Chairman of KPK.
4. The KPK issues a decree regarding the status of the receipt of
   the gratification to the recipient/reporter of the gratification      Workshop/Socialization of Anti-Corruption to The
   and copies it to the UPG no later than 7 (seven) working              Employee
   days from the date the Decree is stipulated. If the ownership
   status of the gratification is determined to be managed by            Throughout 2023, the Company has carried out several activities
   the agency, the gratification is submitted to the UPG to be           to encourage the effectiveness of gratification control policy
   managed by the Company.                                               implementation, such as:
5. If the KPK determines the gratification as state property, the        1. Dissemination through various socialization media regarding
   reporting party or recipient must render the gratification                the message of anti-gratification to the whole employee as
   received to the KPK no later than 7 (seven) working days from             well as the Company stakeholder through the following
   the date the decree was issued. Evidence of the rendering to              activities:
   the KPK is to be submitted to UPG.                                        a. Socialization on the role of wives in gratification control
                                                                                 at the IIKPA work meeting in January 2023.




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                                                                                        2023 Annual Report




b. Implementation of internalization to all employees                r. Installation of World Anti-Corruption Day (Hakordia)
   regarding illegal Gratification and Anti-Bribery                     theme poster at Bank BTN Tower in December 2023.
   Management System through Digital Room for E learning            s. Infographic Internalization on the theme of World Anti-
   Modules (DREAM) media in February and September                      Corruption Day (Hakordia) to all employees through the
   2023.                                                                B-gate application, whatsapp blast and email blast in
c. Circulated an Appeal through an Internal Memo related                December 2023.
   to the prohibition of Gratification Ahead of Idul Fitri          t. Infographic Socialization of the theme of World Anti-
   1444 H to all work units in March 2023.                              Corruption Day (Hakordia) through the installation of
d. Branch Visit of Gratification Control Unit (UPG) in order            Hakordia pennants within the Bank in December 2023.
   to internalize gratification to Branch Offices.                  u. Infographic Socialization on the theme of World Anti-
e. Carrying out Women’s Socialization and Prevention                    Corruption Day (Hakordia) to stakeholders through social
   of Corruption in the Family to Wives of employees at                 media Facebook, twitter, and Instagram in December
   Menara Bank BTN in March 2023.                                       2023.
f. Dissemination of gratuities through poster installation in       v. Organizing the peak event of the commemoration
   banking Hall of Branch Office.                                       of World Anti-Corruption Day in the Bank’s internal
g. Internalization of understanding of gratification through            environment on December 21, 2023.
   the display of the video “Knowing Gratification” on Bank         w. Awarding to Gratification Reporters with the highest
   BTN smartshare internal digital media .                              number of reports, the highest nominal and inspirational
h. Infographic socialization of Anti-Gratification Messages             reporters.
   related to the Prohibition of Gratification Ahead of          2. The signing of the Integrity Pact. The Company has an
   Idul Fitri 1444 H to stakeholders through social media           Integrity Pact signing program which is in line with its
   Facebook, twitter, and Instagram in April 2023.                  commitment to implementing ISO 37001:2016 Anti-Bribery
i. Infographic socialization of Anti-Gratification Messages         Management System (Sistem Manajemen Anti Penyuapan,
   related to the Prohibition of Gratification Ahead of Idul        SMAP) certification. The Integrity Pact is a statement from all
   Fitri 1444 H to stakeholders through the Sindonews               levels of the Company to commit to upholding morals and
   newspaper in April 2023.                                         integrity, protecting and maintaining the image, credibility,
j. Infographic socialization of Anti-Gratification Messages         and interests of the Company by not soliciting or receiving
   related to the Prohibition of Gratification Ahead of Idul        bribes or gratuities from parties with conflicts of interest. The
   Fitri 1444 H through the installation of anti-gratification      Integrity Pact is always implemented as well as possible to
   Twibbone in April 2023.                                          support the SMAP program and gratification control. The
k. Webinar on Best Practices for Gratification Control and          Integrity Pact signed by each employee is uploaded via the
   corruption Prevention Strategies in the Business World           Digital Room for E-Learning Modules (DREAM) media.
   Sector with the Resource Person of the Director of
   gratification of KPK in May 2023.                             3. E-learning on Gratification Control
l. Socialization of the Anti-bribery and Gratification              Internalization to all employees regarding Gratification
   Management System to all vendors/ partners of goods              Control material and Anti-Bribery Management System, one
   and services procurement at Aston Sentul Hotel in June           of which is through the Compliance Excellence program
   2023.                                                            using the Digital Room for E-Learning Modules (DREAM)
m. Socialization of Gratification control, Anti-Bribery             media and conducting evaluations related to the material in
   Management System and WNS to BTN Stakeholders                    question in the form of organizing quizzes and feedbacks on
   (internal and externa) through BTN website in July 2023.         the material provided.
n. Conducting an Anti-Gratification Poster Design
   Competition for all employees in August 2023.                 4. Report on the Work Plan for the Gratification Control Program
o. Internalization through an internal memo calling for             (Program Pengendalian Gratifikasi, PPG) to the KPK
   rejecting gratuities related to Christmas 2023 and New           Based on the KPK Letter on Guidelines for Monitoring and
   Year 2024 to all employees in December 2023.                     Evaluation of the Implementation of Gratification Control in
p. Infographic Internalization Anti-Gratification Message           2023, every Semester the Company is required to submit a
   related to Christmas 2023 and New year 2024 to all               Work Plan report to the KPK through the KPK’s Gratification
   employees through the B-Gate application, Whatsapp               Online (GOL) application. The Company has submitted a
   blast and email blast in December 2023.                          PPG Semester I to II Work Plan report to the KPK with details
q. Infographic socialization of Anti-Gratification Messages         consisting of the following::
   related to Christmas 2023 and New Year 2024 to                   a. Dissemination Report on anti-gratification message
   stakeholders through social media Facebook, Twitter,                 dissemination media;
   and Instagram in December 2023.                                  b. E-learning Report on Gratification Control Technical
                                                                        Guidance;




                                                                     PT Bank Tabungan Negara (Persero) Tbk                    667
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     c. Report on the socialization of gratuities independently by       b. Gratification reporting category with the highest nominal
        UPG;                                                                amount.
     d. Technical guidance related to PPG implementation;                c. Inspirational Reporter Category.
     e. Report of acceptance and/or
     f. Rejection of gratuities managed by UPG;                          In addition, to awards to gratification reporters, appreciation was
     g. Gratification Control Innovation Report.                         also given to the winners of the anti-gratification poster design
                                                                         competition, the Most Active API Employee from the KPK and the
5. Conveying appreciation to selected gratification reporters            symbolic installation of API Vests to 2 (two) representatives of the
   at the celebration of World Anti-Corruption Day (Hakordia)            Main and Young Integrity Building Experts (API) employees of the
   2023 according to the KPK Circular Letter regarding the               Class of 2023.
   commemoration of world Anti-Corruption Day (Hakordia)
   in 2023 which is commemorated every December 9, KPK                   Management of State Officials’ Wealth Report
   appealed to all Ministries/ Institutions to organize a series         (LHKPN)
   of activities to commemorate Hakordia 2023 with the theme
   “Synergy to Eradicate Corruption, for Advanced Indonesia”.            As a State-Owned Enterprise, the Company consistently strives
                                                                         to maintain compliance with the submission of LHKPN. The basic
In this regard, the Company appreciates employees who report             provisions for the management of the Company’s State Officials’
gratuities and are committed to preventing corruption within the         Wealth Report (LHKPN) are the Corruption Eradication Commission
Company so that it will inspire other employees to have such             Regulation of the Republic of Indonesia Number 07 of 2016
commitment to preventing corruption, one of which is through             concerning Procedures for Registration, Announcement, and
rejection and reporting of gratification.                                Examination of State Officials’ Wealth Reports and the Corruption
                                                                         Eradication Commission Regulation of the Republic of Indonesia
Appreciation is given to gratification reporters in 2023 with 3          Number 02 of 2020 concerning Amendments to Regulations of the
(three) categories, namely                                               Corruption Eradication Commission of the Republic of Indonesia
a. Gratification reporting category with the highest number of           Number 07 of 2016 concerning Procedures for Registration,
     reports.                                                            Announcement and Examination of State Officials’ Wealth Reports.



The Company’s LHKPN Management Policy

The Company is committed to the implementation of LHKPN’s obligations with the issuance of Special Policy No. 3C dated October 31,
2023 concerning Personnel Regulation and Administration, Chapter VII concerning Human Capital Services and Operations. Based on
the Special Policy, Officials within the Company who are required to report LHKPN are as follows:
1. Board of Directors, Board of Commissioners, and Board of Commissioners Organs.
2. Head of Division/Desk (or equivalent), Head of Regional Office.
3. Head of Branch and Head of Sharia Branch.


Number of LHKPN Reporting

 No                 Position Category                                Amount                                     %Reporting

 1      Board of Commissioners                                           8                                         100%

 2      Board of Directors                                               9                                         100%

 3      SEVP                                                             2                                         100%

 4      Head of Division                                                42                                         100%

 5      Head of Regional Office                                          6                                         100%

 6      Head of Branch                                               108                                           100%

        Total Mandatory Report                                       175                                           100%




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                                                                                                                            2023 Annual Report




                                                                    Number of Mandatory
    No       Year                   Report Type                                                             Number of Reporting                        % Compliance
                                                                         Reports

 1        2020           Periodic 2019                                            158                                    157                              99,37%

 2        2021           Periodic 2020                                            162                                    162                                100%

 3        2022           Periodic 2021                                            170                                    170                                100%

 4        2023           Periodic 2022                                            175                                    175                                100%


•    • All BUMN officials are required to report the 2022 Periodic LHKPN online January 01, 2023 to January 01, 2023. March 31,
     2023, where if there are BUMN officials who do not fulfill these obligations they can be subject to administrative sanctions.
•    Based on this, Bank BTN’s Compliance Report on LHKPN Reporting of 100% or all Mandatory Reports have completed reporting
     according to the predetermined time limit, where the level of compliance can be maintained. (as of March 31, 2023).


Number of Determination (Internal Fraud) and Resolution Efforts

                                                                           Number of frauds committed (Internal)

                                     Members of the Board of
    Internal Fraud in              Commissioners and Members of                             Permanent employee                           Non-Permanent Employees
         1 Year                       the Board of Directors

                                   Previous Year            Current Year            Previous Year            Current Year            Previous Year             Current Year
                                      (2022)                  (2023)                   (2022)                  (2023)                   (2022)                   (2023)
 Total Fraud                               0                        0                      18                      19                        1                        0
 Resolved                                  0                        0                      10                      17                        1                        0
 In the process of
 resolution in the Bank                    0                        0                       7                        2                       0                        0
 Internal
 Not yet attempted to be
                                           0                        0                       0                        0                       0                        0
 resolved
 Has been followed up
                                           0                        0                       1                        2                       0                        0
 through the legal process

Information:
1. The number of cases in the current year is based on the Special Audit Results Report and Preliminary Review Report for the period January - December 2023.
2. Cases that have been “Resolved” are cases that have received sanction decisions from the Board of Directors - December 2023.
3. Cases that are “In the process of resolution in the Bank Internal” are cases that have not received a sanction decision from the Board of Directors until December 2023.
4. Cases that “Have been followed up through the legal process” are cases that have been “Resolved” and given criminal sanction decisions. The legal process was followed up by LGD.




Provision of Funding for Social and/or Political                                              Provision of Funds to Related Parties and
Activities                                                                                    Provision of Large Funds

Provision of Funding for Social Activities is part of the Company’s                           The Company provides funds to related parties and large
social responsibility. Therefore, information related to the                                  exposures which are made with the approval of the Company’s
provision of funding for social activities is described in the Social                         Board of Commissioners. The Company has never violated
and Environmental Responsibility section which is an integral part                            the Legal Lending Limit (BMPK) during 2023. The Compliance
of this annual report.                                                                        Director through the Compliance Unit constantly monitors the
                                                                                              Company’s compliance with the BMPK provisions and reports
As for providing funds for political activities, during 2023, the                             it to the Financial Services Authority every semester. The
Company will not provide funds for political activities or to                                 implementation of the provision of funds by the Company to
political parties in accordance with statutory regulations and the                            related parties and/or the provision of large exposure always
Company’s code of conduct.                                                                    takes into account the precautionary principle as well as the
                                                                                              applicable laws and regulations and has complied with Bank
                                                                                              Indonesia regulations regarding BMPK.




                                                                                                   PT Bank Tabungan Negara (Persero) Tbk                                   669
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                                         Amount                      it is regulated that the Company’s insiders are prohibited from
 No      Fund Provider                                               carrying out Insider Transaction activities (Insider Trading) by
                                              Amount (million        buying or selling the Company’s Securities or other Companies
                                Debtor
                                                 rupiah)
                                                                     that conduct transactions with the Company. Insiders referred
 1     To Related Parties         48                 8.556           to are as follows:
       To Core Debtors:                                              1. Commissioners, Directors, or Employees of the Company;
 2      a. Individual             10              6.88.986
                                                                     2. The major shareholder of the Company;
        b. Group                 205            28.084.964
                                                                     3. An individual who, because of his position or profession
                                                                           or because of his business relationship with the Company,
Share Buyback and Bond Buyback                                             allows that person to obtain inside information; or
                                                                     4. Parties who, within the last 6 (six) months, are no longer
Throughout 2023, there were not share buyback or bond                      referred to in points 1, 2, and 3 above.
buyback.
                                                                     The prohibition for the Company Insiders who have Insider
Bank Strategic Plan                                                  information to buy or sell the Company’s Securities is based on
                                                                     the consideration of the Principle of Disclosure in the Capital
Information related to the Bank’s Strategic Plan has been            Market which results in the creation of equality of information
presented in the Bank’s Strategy Sub-Chapter in the Management       for each party in making investment decisions. Insiders are
Analysis and Discussion Chapter in this Annual Report.               prohibited from trading the Company’s Securities if they have
                                                                     material information held by Insiders that is not published yet
Transactions Containing Conflict of Interest                         (in this case: Insider Information) or Material Facts. Insiders
                                                                     who have been informed with the Material Facts can trade
An explanation regarding transactions that contain conflict of       Securities after the Material Facts are published.
interest is presented in the Management Discussion and Analysis
Chapter of this Annual Report.                                       Transparency of Financial and Non-Financial
                                                                     Conditions
Internal Dispute
                                                                     Explanation regarding the Transparency of Financial and
Throughout 2023, there was no internal dispute between               NonFinancial Conditions has been presented in the Sub-
employees of the Company.                                            Chapter of Transparency for Report Submission in the Chapter of
                                                                     Corporate Governance in this Annual Report.
Prevention of Insider Trading
                                                                     Implementation of Sustainable Finance,
As part of the management of potential conflicts of interest,        Including the Implementation of Social and
the Company has set some policies regarding Insider Trading,         Environmental Responsibility
which are regulated in the Board of Directors Regulation No.
39/PD/CSD/2011 concerning the Investor Relations Activity            An explanation of the application of sustainable finance, including
Policy Guidelines as well as the Board Manuals of the Board          the application of social and environmental responsibility, has been
of Directors and the Board of Commissioners. In this provision,      explained in Bank BTN’s 2023 Sustainability Report




670         PT Bank Tabungan Negara (Persero) Tbk
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Report of Sharia Business
Unit Governance

The Company has established a Sharia Business Unit (UUS)             5 (Five) Basic Principles of the Sharia
Management, which is designed to guide the Company’s                 Business Unit (UUS) Governance of the
management to operate in compliance with the five basic              Company
principles of Sharia and is also targeting broader interests. The
main interests of concern here include protecting the interests of   The Company consistently implements and improves the UUS
the stakeholders and increasing compliance with the prevailing       management. Such means is carried out by continuously
laws and regulations and ethical values that apply generally to      advancing its services to the customers and the stakeholders
the Islamic banking industry.                                        according to Sharia Principles which are based on 5 (five) basic
                                                                     principles of GCG, namely:
Policies regarding the management of Sharia Business Units           1. Transparency: directness in providing material, relevant
(UUS) in the Company refer to several regulations, including the         information, and transparency in the decision-making
following:                                                               process;
1. Law No. 21/2008 concerning Islamic Banking dated July             2. Accountability: accuracy and validity of the information
     16, 2008;                                                           presented about the effective Company management in
2. OJK Regulation Number 12 of 2023 concerning Sharia                    accordance with the purpose;
     Business Units.                                                 3. Responsibility: the Company’s management adheres to the
3. Bank Indonesia Regulation No. 11/33/PBI/2009 concerning               prevailing laws and principles of a healthy UUS management;
     the Implementation of Good Corporate Governance for             4. Professionalism: possessing competence, ability to act
     Sharia Commercial Banks and Sharia Business Units;                  objectively and free from any influence/pressure, and
4. Bank Indonesia Circular Letter No. 12/13/DPbS dated                   committing to developing Sharia business;
     April 30, 2010, concerning the Implementation of Good           5. Fairness: upholding justice and equality in defending the
     Corporate Governance for Sharia Commercial Banks and                rights and satisfying the interests of the stakeholders in
     Sharia Business Units;                                              accordance with the prevailing legislation.
5. Board of Directors Decree No. 02/KD/DIR/ SPMD/2015
     regarding the Organizational Structure of PT. Bank Tabungan
     Negara (Persero) Tbk Head Office;                               Structure of Sharia Business Unit (UUS)
6. The Company’s Articles of Association.                            of the Company

                                                                     The Company’s Sharia Business Unit (UUS) is managed by the
                                                                     Director of UUS, who delegates to the Division of UUS and Deputy
                                                                     of UUS, under the supervision of the Sharia Supervisory Board as
                                                                     outlined in the following UUS management structures graph:




                                                                         PT Bank Tabungan Negara (Persero) Tbk                 671
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                                                            Corporate
                                                            Governance




                                                                                                                     Sharia Banking Division
                                                           DCD
                                                                                                                             (SHAD)

           Secretary


                                                      M      S                                                                      N
                              Sharia Funding                                                              Sharia Financing
                             & Treasury Deputy                                                            Business Deputy


                M                     N                                         N                     M                                              N
  Consumer             Comercial                                                                                                    Non Sub &
                                                                                      Commercial              Subsidized
  Funding &            Funding &           Treasury              Digital Banking                                                    Consumer
                                                                                       Financing              Mortgage
   Service              Service                                                                                                     Financing


                M                     N
   Consumer            Goverment                                                                                                           Non
                                            Money &               Card & Digital        Commercial             Subsidized
   Funding &           & Education                                                                                                      Subsidized
                                          Capital Market            Channel            Financing RM            Mortgage
    Service              Funding                                                                                                        Mortgage


                M                     N                                         M
                        Institution                                  Corporat           Commercial              Developer
                                           Liquidity &
  Hajj & Umrah          Funding &                                     Digital            Financing              Institution         Non Mortgage
                                              ALM
                         Zizwaq                                      Banking              Analyst                 Sales


                M                                                                                     N
  Consumer &                                                                                                   Consumer
  Comemrcial                                                                                                   Financing             Consumer
                                                                                        Stakeholder
    Funding                                                                                                     Policy &            Financing &
                                                                                       Relation Sales
    Policy &                                                                                                    Product             Adm Support
  Development                                                                                                 Development



                                                                                          Commercial Financing
                                                                                       Monitoring & Restructuring RM



                                                                                         Commercial Financing
                                                                                        Monitoring & Restructuring
                                                                                                 Analyst



                                                                                        Commercial Policy & Product
                                                                                             Development




Vision and Mission of Sharia Business Unit                                 2. Developing human capital of high quality and integrity as
                                                                              well as implementing good Corporate Governance and
In conducting its operations, the UUS of the Company lives up to              Compliance;
the following Vision and Mission statements:                               3. Increasing the competitive advantage with the latest
                                                                              information technology;
Vision                                                                     4. Caring about the Social and Environmental interests,
“Becoming a leading Sharia Bank in housing financing and
associated industry”.
                                                                           Sharia Supervisory Board (DPS)
Mission
In achieving the vision above, the Company will undertake the              To ensure a Sharia Financial Institutions (LKS) in adhering to
following missions:                                                        their Sharia principles, the Company is supervised by the Sharia
1. Providing innovative products, programs, and featured                   Supervisory Board (DPS). This Board is responsible to provide
     services with a focus on housing financing and associated             advice and suggestion to the Board of Directors. The Board also
     industry with economical financing resources;                         supervises the Company’s business activities to be in accordance
                                                                           with sharia principles (Article 1, Paragraph (12) of PBI No.
                                                                           11/10/PBI/2009 on sharia business unit).



672           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                2023 Annual Report




                                          ITPD                                                 CRSD & CAND                  ERMD         CRD        RRD




                                      N     S                                                    M    S

 Sharia IT Operatioins Deputy                                        President director                                                                   KCS



                   N                  N                     M
                                             Finance             Consumer
  Operaton               Sharia IT                                              Commercial             Strategic
                                            Accounting           Collection                                            Service Quality
  & Business            Strategic &                                                Asset              Planning &
                                            & General           Recovery &                                               & Network
   Support             Development                                              Management           Development
                                             Support            Asset Sales

                                      N                                                                                                    S
                                                                                  Commercial
    Sharia                Sharia IT         Financial Adm       Early Bucket     Asset Sales &            Strategic          Brach             Sharia
  Operations **         Development           & Policy (*)           (*)         Restructuring            Planning        Perfomance       Enterprise Risk
                                                                                       (*)

                                      N                                                                                                    S
                         Sharia IT                                                Commercial                               Network                 Sharia
   Settlement                                Financial          Midle Bucket                            Sharia
                          Quality                                                  Financing                               & Office             Commercial
   Operations                               Reporting (*)            (*)                              Compliance
                         Assurance                                                 Document                               Channeling           Financing Risk


                   N                  N                                                                                                    S
                                              Financial                                                                    Service
                          Sharia IT
  Reconsiliation                            Reconciliation                                            Sharia Policy       Quality &             Sharia Retail
                          Business                               Asset Sales         Legal
   & Support                                & Controlling                                             & QA Group          Handling             Financing Risk
                           Partner
                                                 (*)                                                                     Management



                                                                 Consumer           Asset
                                                 Human
                                                                 Financing       Management
                                                 Capital
                                                                 Document          Support




                                            Procurement
                                                                  Collection
                                             & General
                                                                   Support
                                              Service




Appointment of The Sharia Supervisory Board
(DPS) Members

A member of the Sharia Supervisory Board must possess several                             f.
                                                                                          Never been committing fraud (scam, embezzlement,
relevant qualities, including:                                                            and/or other fraudulent conduct) in banking, finance,
1. Integrity, e.g.:                                                                       and other areas of business, nor prosecuted for criminal
    a. Good personality and morals.                                                       acts (as evidenced by a statement from the person
    b. Legally competent.                                                                 concerned).
    c. Committed to complying with and practicing the Sharia                       2. Competence; at least possessing related knowledge
        Supervisory Board Charter, sharia banking provisions,                         and experience in Sharia Economic Law as proven with
        and other prevailing regulations in a professional                            approval/recommendation letter from DSN-MUI, and
        manner.                                                                       general knowledge in banking and/ or financial sector. To
    d. Committed to the development of healthy and solid                              improve their competency, the DPS members must be willing
        sharia banking.                                                               to continuously develop through education and training.
    e. Unlisted in the fit and proper no-pass list as set forth in                    This includes an induction program as a medium of learning
        the terms of fit and proper test regulated by the Financial                   about the Company in a relatively brief time to carry out their
        Services Authority (OJK).                                                     duties effectively and efficiently.




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                                                           Corporate
                                                           Governance




3. Reputation; within at least 5 (five) years before being              Structure, Number, and Composition of Sharia
   nominated and during their term of office:                           Supervisory Board
   a. Unlisted in the blacklist and non-performing list managed
      by Financial Services Authority (OJK).                            The Company’s Sharia Supervisory Board (DPS) has been
   b. Having never been declared bankrupt.                              appointed based on the requirements by in accordance with
   c. Having never been a shareholder, commissioner, or                 Bank Indonesia Regulation No. 11/10/ PBI/2009 on Sharia
      director of a company and/or manager of a business                Business Unit as amended by Bank Indonesia Regulation No.
      entity declared guilty of causing a company and/or a              15/14/PBI/2013 which obliges the DPS members to have
      business entity to be declared bankrupt.                          integrity, competence, and reputation in finance.
   d. Having never been convicted due to a criminal offense             The composition of the Sharia Supervisory Board (DPS) has
      against state finances and/or associated with the                 been regulated in the Charter of Supervisory Board stipulated
      financial sector.                                                 as follows:
   e. Having never been a director or commissioner whom                 1. DPS must consist of at least 2 (two) people and 3 (three)
      while holding the position do the following:                          people at most.
      1) failed to conduct the annual GMS.                              2. DPS is chaired by a chairperson appointed from one of its
      2) whose accountability as such director and/or                       members.
           commissioner was once unacceptable to a GMS.                 3. DPS members are appointed by GMS.
      3) caused an OJK-licensed, approved, or registered
           company to fail to meet the obligation of submitting the     Changes and Composition of the Sharia
           annual report and/ or financial statement to the OJK.        Supervisory Board in 2023

Procedure Appointment of Sharia Supervisory                             Information regarding the Changes and Composition of the
Board (DPS) Members                                                     Sharia Supervisory Board can be seen in the Company Profile
                                                                        Chapter in the Profile of the Company’s Sharia Supervisory
The Sharia Supervisory Board (DPS) member is appointed                  Board section in this Annual Report.
through the following stages:
1. The Remuneration and Nomination Committee recommends                 Profile of Sharia Supervisory Board
    member candidates to the Board of Commissioners.
2. In case a member of the Remuneration and Nomination                  Information regarding education, work experience, DPS
    Committee has a conflict of interest with a candidate for the       appointment period, concurrent positions, and affiliations is
    DPS member, the reason for disagreement must be disclosed           available in the Chapter of Company Profile in the Profile section
    in the recommendation.                                              of the Company’s Sharia Supervisory Board in this Annual
3. From this recommendation, the Board of Commissioners via             Report.
    the Board of Directors proposes the candidate to DSN-MUI.
4. DSN-MUI determines whether to approve or disapprove                  Term of Office of Sharia Supervisory Board
    of the prospective candidates proposed by the Board of
    Directors.                                                          The DPS’ term of office commences on the date of appointment to
5. The Board of Directors must submit an approval request               the closing of the following 5 (fifth) annual GMS, notwithstanding
    to Financial Service Authority (OJK) for the prospective            the right of the GMS to dismiss the officer concerned according
    candidate.                                                          to the prevailing regulations. After the term of office is over,
6. OJK approves or disapproves of the prospective candidates.           a member may be reappointed by taking into account the
7. The candidate who has received approval from DSN-MUI                 prevailing regulations.
    and FSA is appointed in the GMS.
8. Such an appointment before obtaining approval from the               Work Guidelines, Duties, and Responsibilities
    Financial Service Authority (OJK) must be reported by the           of Sharia Supervisory Board
    Company to OJK no later than 10 (ten) calendar days
    following the date of appointment.                                  DPS has a Sharia Supervisory Board Charter which was ratified
9. The candidate whose the position has yet to be effective has         through Sharia Supervisory Board Decree No. 01/DPS-BTN/
    not yet assumed their duties and responsibilities as a DPS          III/2023 dated 31 March 2023. The Sharia Supervisory Board
    member and is unable to make legally binding decisions.             Charter is prepared based on sharia principles, provisions of
    Consequently, they are not entitled to the rights and               the Articles of Association, applicable laws and regulations,
    obligations of a DPS member.                                        Shareholder directions and best practices. Good Corporate
10. In the event that DPS members are not appointed by the GMS          Governance.
    within a period of 3 (three) months from the date in question,
    it becomes invalid.




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                                                                                             2023 Annual Report




The Charter serves as the guidelines for DPS in performing its                1) In the case that the fatwa is available, DPS shall
duties in a more organized and effective manner. Below is the                      tailor the contract of such products with the fatwa.
content of the charter:                                                       2) In the case the fatwa is not yet available, DPS shall
                                                                                   propose to the Board of Directors to complement the
                     General Provisions,     Purpose    of   Charter               new product with a fatwa.
      Chapter I
                     Establishment                                         d. Review the suitability of the system and procedures of the
      Chapter II     DPS Duties, Responsibility, and Authority
                                                                              new products to be promoted in compliance with sharia
                                                                              principles.
     Chapter III     Membership, Composition of the Board                  e. Provide advice on sharia over the new products.
     Chapter IV      Remuneration and Facilities, Meeting, Minutes         f. Evaluate the compliance with sharia principles over the
                                                                              policies and procedures to manage risks inherent in the
                     Supporting Work Unit for the Implementation of
     Chapter V                                                                Company’s new products and/ or activities.
                     DPS Duties and Responsibilities
                                                                       9. Supervising the UUS activities.
     Chapter VI      Others
                                                                           a. Carry out analyze reports submitted by and/or requested
                                                                              from the Board of Directors, the implementation of the
Duties and Responsibilities of Sharia                                         internal audit function, and/or compliance function to
Supervisory Board                                                             recognize sharia principles implementation quality in
                                                                              fundraising and distribution as well as banking services.
The Sharia Supervisory Board is responsible to provide advice              b. Set the number of transaction spot checks (sample) to
and suggestion to the Director of UUS and to monitor UUS                      be examined in view of sharia principles implementation
activities so as to remain in accordance with sharia principles.              quality of each activity.
The duties and responsibilities of DPS include:                            c. Examine the spot-checked transaction document (sample)
1. Assessing and ensuring the compliance with sharia principles               to acknowledge compliance with sharia principles as
    by the Company in its operation and products.                             required in the internal policies, including:
2. Supervising the development of new Sharia products to                      -    The document of goods purchasing for the
    comply with the DSN-MUI fatwa.                                                 murabahah contract as proof of the murabahah
3. Providing sharia-based opinion about the new products                           transaction.
    and/or restructured financing by referring to the provisions              -    The document of customer business report for the
    governing sharia principles implementation and UUS                             mudharabah/musyarakah contract as a basis for
    business activities.                                                           yielding distribution calculation.
4. Request for a fatwa to DSN-MUI required for sharia-based                d. Inspect, examine, and request clarification and/or
    new products.                                                             confirmation to UUS staff and/or customers to verify the
5. Regularly reviewing the fulfillment of sharia principles on                document checking when required.
    the compliance with sharia principles on the mechanism of              e. Review the internal sharia policy in case of inconsistency
    fundraising and distribution as well as banking services.                 between the principle and the activity.
6. Requesting for data and information relating to the sharia              f. Provide advice on sharia over the fundraising and
    aspects from the related/relevant Company’s work units in                 distribution as well as banking services by UUS.
    sharia activities performed.                                           g. Report the DPS supervision result to OJK using an
7. Performing its role in accordance with the good governance                 established format at least 2 (two) months following the
    (GCG) principles.                                                         end of each semester.
8. Supervising the development of new sharia-related products              h. Provide sufficient time to best perform their duties and
    made by the Company:                                                      responsibilities.
    a. Request for clarification from the Board of Directors and/      10. Bank Risk Management:
          or relevant Company officials regarding the objectives           a. Conduct an evaluation (review) of UUS risk management
          and characteristics of the new products to be promoted.             policies related to compliance with sharia principles at
    b. Ensure the availability of fatwa from DSN-MUI for the                  least 1 (once) a year.
          new products:                                                    b. Carry out evaluate the responsibility of the Board of
                                                                              Directors for the implementation of risk management
                                                                              policies related to compliance with sharia principles at
                                                                              least on a quarterly basis.




                                                                           PT Bank Tabungan Negara (Persero) Tbk                 675
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                                                                   Corporate
                                                                   Governance




Concurrent Position Policy of Sharia Supervisory Board

The Sharia Supervisory Board members may hold a concurrent position as a DPS member at most in 4 (four) other sharia financial
institutions, with the priority on companies affiliated with the Company›s business group. The DPS members are not allowed to hold a
concurrent position as a consultant throughout BUS and/or UUS in Indonesia.


             Name                       Position         Position at other companies/ Institutions    Name of the other company/ institution

                                     Chairman
 Prof. Dr. Muhammad Quraish          of Sharia
                                                     Chairman of Sharia Supervisory Board            CIMB Niaga
 Shihab, MA                          Supervisory
                                     Board

                                     Member          Member of Sharia Supervisory Board              Bank Syariah Indonesia (BSI)
 Dr. Mohamad Hidayat, MBA,           of Sharia
                                                     Chairman of Sharia Supervisory Board            Asuransi BRIngin Life Syariah
 MH*                                 Supervisory
                                     Board           Chairman of Sharia Supervisory Board            AJ Manulife Syariah

                                     Member          Member of Sharia Supervisory Board              OCBC NISP
 Mohammad Bagus Teguh                of Sharia
                                                     Member of Sharia Supervisory Board              Maybank Indonesia
 Perwira, LC. MA                     Supervisory
                                     Board           Chairman of Sharia Supervisory Board            Manulife Aset Manajemen Indonesia

                                                     Member of Sharia Supervisory Board              PT Indomobil Multi Finance Indonesia Syariah
                                     Member
 Muhammad Faiz, Lc.,                 of Sharia       Member of Sharia Supervisory Board              Unit Usaha Syariah PT Bank Permata, Tbk
 M.A.**                              Supervisory
                                                                                                     PT Bank Tabungan Pensiunan Nasional (BTPN)
                                     Board           Member of Sharia Supervisory Board
                                                                                                     Syariah

* Cease to serve on March 15, 2023
** Effective November 29, 2023




Management of Conflict of Interest In Sharia Supervisory Board

The Sharia Supervisory Board members must avoid or prevent any potential conflict of interest. In case of conflict of Interests, they are
prohibited from taking any action that could harm or reduce the profit of the Company. They must also disclose such a situation in every
decision and inform the Board of Commissioners.


The Sharia Supervisory Board members are subject to any regulations on conflict of interests and other regulations applicable to the
Company. Whenever encountering conflict of interest, DPS members shall:
1. Make a written report submitted to the Board of Commissioners on any potential or actual conflicts of interest which significantly
    influence the Company’s finance and the reputation of the Company, the Board of Commissioners, DPS, and the Board of Directors.
2. Not participate in the assessment process on any activities inflicting such conflicts of interest.
3. Participate in meetings, but not in the decision-making.


Share Ownership of the Sharia Supervisory Board

                                                                                                 Shareholding
               Name                           Position
                                                                                Other
                                                                Bank BTN                    Non-Bank Financial Institutions      Other Companies
                                                                                Banks
 Prof. Dr. H. Muhammad Quraish
                                              Chairman              Nil           Nil                     Nil                            Nil
 Shihab, MA
 Dr. H. Mohamad Hidayat, MBA,
                                               Member               Nil           Nil                     Nil                            Nil
 MH*
 H. Mohammad Bagus Teguh
                                               Member               Nil           Nil                     Nil                            Nil
 Perwira, Lc, MA
 Muhammad Faiz, Lc., M.A.**                    Member               Nil           Nil                     Nil                            Nil

* Cease to serve on March 15, 2023
** Effective November 29, 2023




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Implementation of DPS’s Activity Report

Internal Meeting Of The Sharia Supervisory Board


 No            Date                            Meeting Agenda                                Participants              Presence
                           New Mobile ABnking Opinion Request
                           One Billing Opinion Request (Uniformity of Customer
1     January 19, 2023     Installment Dates)                                         DPS and UUS Management      All DPS were present
                           Project Tiger
                           USS Performance Highlights for December 2022
                           Request for Opinion on Fund Disbursement Plan Should
                           Not Be recognize as Revenue (TBDSP) in 2023
2     February 16, 2023    Request for Special Policy Opinion on BTN iB Current       DPS and UUS Management      All DPS were present
                           Account
                           USS Performance Highlights for January 2023
                           BTN Emas iB Savings Opinion Request
3     March 14, 2023       DPS Charter 2023                                           DPS and UUS Management      All DPS were present
                           USS Performance Highlights for February 2023
                           USS Performance Highlights for March 2023
4     April 17, 2023
                           Sharia Supervisory Board (DPS) Agenda
                                                                                      DPS and UUS Management      All DPS were present
                           USS Performance Highlights for April 2023
5     May 23, 2023
                           Results of Sampling Evaluation and Sampling Monitoring
                           Request for Opinion on Proposed Adjustment of BTN iB
                           Prima Giro Counter Ratio
                           Request for Opinion on the Implementation of Securities
                           Trading
6     June 9, 2023                                                                    DPS and UUS Management      All DPS were present
                           Request for Opinion on Payment Procedures for Insurance
                           Financing of BTN Subsidized KPR iB
                           Request for Opinion on Adjustment of Accelerated
                           Repayment of KPR BTN iB
                           Request for Opinion on KUR BTN iB Financing Proposal
                           TBDSP 2023 Fund Disbursement
7     July 24, 2023        Proposed Distribution of TBDSP Funds for Community         DPS and UUS Management      All DPS were present
                           Development Program in East Kalimantan Province
                           USS Performance Highlights for June 2023
                           Request for Response to letter from DPS BP Tapera
                           Request for Opinion Recording and write-off Sukuk Ijarah
                           Berlian Laju Tanker
                           Request for Opinion on BTN Rumah Tapera iB Savings
8     August 25, 2023                                                                 DPS and UUS Management      All DPS were present
                           Product Development
                           Request for Investment Financing Opinion at Bengkulu
                           Muhammadiyah Hospital
                           USS Performance Highlights for July 2023
                           Follow-up to the Compliance Director’s meeting with DPS
                           2022                                                       DPS, UUS Management,
                           Overview of USS performance as of August 2023              Compliance Director, and
9     September 1, 2023                                                                                           All DPS were present
                                                                                      Compliance and Governance
                           Sharia Branch Office (KCS) compliance map                  Division (CMGD)
                           Overview of DPS Activities and Sampling Results in 2023
                           Request for Opinion on the Implementation of fund
                           Management Certificate Transactions Based on Sharia
                           Principles

10    September 25, 2023   Request for Opinion on Reward Point Program for DPK        DPS and UUS Management      All DPS were present
                           Retail Customers
                           2023 TBDSP Fund Utilization Report
                           USS Performance Highlights for August 2023
                           USS Performance Highlights for September 2023
11    October 27, 2023     Sampling Result Evaluation                                 DPS and UUS Management      All DPS were present
                           Sharia Operational Discussion




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                                                                  Corporate
                                                                  Governance




  No               Date                                     Meeting Agenda                                  Participants                  Presence
                                       Implementation of Sharia Risk Management
                                       Request for Opinion on Coaching Cooperation with Third       DPS, UUS Management, and
 12     November 27, 2023              Parties                                                      Enterprise Risk Management       All DPS were present
                                       DPS Work Plan 2024                                           Division (ERMD)

                                       USS Performance Highlights for October 2023
                                       Development of Marketing Cooperation Bancassurance
 13     December 20, 2023                                                                           DPS and UUS Management           All DPS were present
                                       Activities.



Frequency and Attendance of Meetings


                                                  Sharia Supervisory Board Internal Meeting               Sharia Supervisory Board Joint Meeting

                                                      Attendance Number and Percentage                     Attendance Number and Percentage
             Name                    Position
                                                  Number of        Number of                             Number of         Number of
                                                                                       Percentage                                           Percentage
                                                   Meeting         Attendance                             Meeting          Attendance
 Prof.Dr.H.Muhammad
                                     Chairman         13               13              100%                  2                  2            100%
 Quraish Shihab, M.A.
 Dr. H. Mohamad Hidayat,
                                     Member             3                3             100%                  0                  0                  -
 M.B.A, M.H.*
 H. Mohammad Bagus Teguh
                                     Member           13               13              100%                  2                  2            100%
 Perwira, Lc., M.A.
 Muhammad Faiz, Lc.,
                                     Member             1                1             100%                  0                  0                  -
 M.A.**

* Cease to serve on March 15, 2023
** Effective November 29, 2023



Frequency and Procedures of Advice-Giving Supervision of Sharia Principle Implementation in the Capital Market for
Issuers or Public Companies

Throughout 2023, DPS provided 32 (thirty-two) opinions and were expressed in response to the business development of the UUS to
remain compliant with Sharia Principles.


  No           Date                             Opinion                           No            Date                            Opinion

                              Bank’s New Product Opinion of Supply                                               Payment Procedures for iB Subsidized
 1       January 06, 2023                                                         15      June 09, 2023
                              Chain Financing (SCF) BTN iB                                                       BTN KPR Financing Insurance
 2       January 19, 2023     New Mobile Banking                                                                 Accelerated Repayment Adjustment of
                                                                                  16      June 09, 2023
                              Bank’s New Product Opinion of Mobile                                               KPR BTN iB
 3       January 19, 2023
                              Banking
                                                                                  17      July 24, 2023          KUR BTN iB Financing
 4       January 19, 2023     one Billing
                                                                                                                 Tearing Percentage of 2023 TBDSP Fund
 5       January 19, 2023     Project Tiger                                       18      July 24, 2023
                                                                                                                 Disbursement
         February 16,
 6                            2023 TBDSP Fund Disbursement Plan                                                  Community Development Program of East
         2023                                                                     19      July 24, 2023
                                                                                                                 Kalimantan Province
         February 16,         Response to Current Account BTN iB
 7
         2023                 Product Special Policy                                                             Recording and Write-off Sukuk Ijarah
                                                                                  20      August 25, 2023
                                                                                                                 Berlian Laju Tanker
 8       March 14, 2023       BTN Emas iB Savings
 9       March 14, 2023       DPS Charter 2023                                                                   BTN Rumah Tapera iB Savings Product
                                                                                  21      August 25, 2023
                                                                                                                 Development
                              Bank’s New Product Opinion of BTN
 10      March 28, 2023
                              Emas iB Savings                                                                    Application for Bengkulu Muhammadiyah
                                                                                  22      August 25, 2023
                                                                                                                 Hospital
                              Bank’s New Product Opinion of Debit
 11      March 31, 2023
                              Card/ Debit Visa Paywave                                                           Bank’s New Product Opinion of BTN
                                                                                  23      August 25, 2023
                              Administration and Process Fee of BTN iB                                           Rumah Tapera iB Savings
 12      May 23, 2023
                              Subsidized KPR
                                                                                                                 Approval of the Sharia Conformity
                              BTN iB Current Account Counter Ration                                              Declaration for the issuance of long-term
 13      June 09, 2023                                                                    September 1,
                              Adjustment                                          24                             Sukuk Mudharabah carried out without
                                                                                          2023
 14      June 09, 2023        Securities Trading Execution                                                       going through the Public Offering of Bank
                                                                                                                 Tabungan Negara I Year 2023 Phase I



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 No             Date                            Opinion                           Party Entitled to Conduct The Assessment

                                 Implementation of Fund Management
         September 25,                                                            DPS conducted a self-assessment on its performance in 2022
 25                              Certificate Transactions based on Sharia
         2023                                                                     in the DPS internal meeting. The assessment is conducted by
                                 Principles.
                                                                                  evaluating the achievement of DPS performance indicators
         September 25,           Provision of Reward Point Program to DPK
 26                                                                               throughout 2023. In the evaluation process, DPS coordinates with
         2023                    Retail Customers
                                                                                  the DPS secretariat unit in terms of administration, documentation
         September 25,
 27                              2023 TBDSP Fund Use report                       and data so that the performance evaluation process can be
         2023
                                                                                  carried out accurately.
         November 27,
 28                              Coaching Cooperation with Third Parties
         2023
                                                                                  Results of Performance Assessment of DPS
         December 20,            Development of Marketing Cooperation
 29
         2023                    Bancassurance Activities
                                                                                  During 2023, DPS has carried out its duties and responsibilities
         December 27,            BTN iB Refinancing Multibenefit Financing
 30
         2023                    with MMQ contract
                                                                                  well. In the Sharia Consideration/ Briefing Aspects, DPS has
                                                                                  conducted 13 (thirteen) DPS meetings, including 1 (one) meeting
         December 27,            Multipurpose Financing (Soft Financing)
 31
         2023                    of BTN iB Employees with MMQ contract
                                                                                  with the Enterprise Risk Management Division (ERMD), and 1
                                                                                  (one) meeting with the Compliance Director. During 2023,
         December 27,            BTN iB Property Financing          Ijarah
 32                                                                               DPS has issued 32 sharia recommendation opinions. For the
         2023                    Muntahiya Bit Tamlik Scheme
                                                                                  Supervision Aspect, DPS has also conducted Sharia Quotation
                                                                                  Test activities on the course of KCS operational activities in order
Performance Assessment of DPS                                                     to ensure compliance with Sharia principles for the operations
                                                                                  and business of USS Bank BTN. The number of sampling
Procedure of Performance Assessment of DPS                                        activities increased from the previous year from 10 KCS to 16
Sharia Supervisory Board performance evaluation is carried out for                KCS. As for the DPS Reporting Aspect, in 2023 DPS has reported
a period of 1 (one) year. In the first stage, DPS members evaluate                on the Sharia Supervisory Board Supervision Results Report for
their performance using the self-assessment method. In the second                 the Second Semester of 2022 and the First Semester of 2023
stage, Remuneration and Nomination Committee will discuss                         on time. Such performance has fulfilled the requirements of the
the results of the self-assessment and performance assessment of                  duties and responsibilities of the Sharia Supervisory Board.
DPS and use them as input to the Board of Commissioners to be
subsequently determined by the Annual GMS.                                        Remuneration and Other Facilities for DPS

Criteria of Performance Assessment of DPS                                         The DPS Charter organizes the terms of salary or honorarium
                                                                                  or remuneration and/or benefits for DPS members as stipulated
The DPS performance assessment is conducted by taking into                        by GMS. In the event that the GMS delegates the Board of
account the duties and responsibilities of DPS in 2023, which                     Commissioners to determine the amounts, the decision will be
include aspects in terms of the provision of consideration/                       made in the Board of Commissioners’ meeting by taking into
direction on sharia, observation on sharia supervision, and DPS                   account the recommendations from the Remuneration and
reporting.                                                                        Nomination Committee.



Remuneration for Sharia Supervisory Board (DPS) in 2023

                                                                             Chairman                                     Member
              Types of Remuneration
                and Other Facilities
                                                                Person             In Million Rupiah           Person            In Million Rupiah
 Remuneration
 Honorarium/ Salary                                                 1                     420                     1                    378
 Routine allowance (Tj. PPh21)                                      1                      18                     1                   16.2
 Holiday Allowance
 Performance Bonus
 Total of Remuneration (a)
 Post-Servise Insurance
 Transportation Allowance
 Total of Other Facilities (b)
 Total Received (a) + (b)




                                                                                        PT Bank Tabungan Negara (Persero) Tbk                  679
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                                                           Governance




Mechanism for The Resignation and Dismissal                             through Confirmation of the Appointment of the UUS Director
of Sharia Supervisory Board (DPS) Members                               of PT Bank Tabungan Negara (Persero) Tbk. His brief profile
                                                                        is available in the Company Profile Chapter in the Board of
The position in DPS shall be terminated if:                             Directors Profile section of this Annual Report.
1. A member’s term of office has been over in accordance with
    the Company’s Articles of Association.                              Duties and Responsibilities of The UUS Director
2. A member resigns in compliance with the applicable
    provisions.                                                         The Director of UUS manages UUS prudentially in accordance
3. A member no longer satisfies the regulatory requirements.            with the sharia principles by following the Company’s Article of
4. A member passes away.                                                Association and GCG best practices.
5. A member is dismissed based on the GMS decision.
                                                                        Head of Sharia Business Division
The mechanism for DPS member resignation is as follows:
1. A DPS member reserves the right to resign from their position        In performing the operational activity, the Director of UUS is
    by submitting notification in writing about their intent to the     assisted by the Head of the Sharia Business Division. Based on
    Board of Directors before his/her resignation.                      the Company’s Guidebook, below are the duties and authorities
2. The Company must announce this information to the public             of the Head of the Sharia Business Division:
    and communicate this matter and propose the replacement             1. Establishing a proposal of the work plan and budget (RKAP)
    candidate to OJK at least 2 (two) working days after receiving           on the corresponding field according to the applicable terms.
    the resignation letter and nominate replacement candidates          2. Developing a strategic plan for the UUS.
    for DPS members.                                                    3. Formulating policies relating to the UUS.
3. If the number of DPS members is less than the minimum                4. Ensuring the secretarial function of DPS.
    number as regulated in applicable legislation following this        5. Ensuring the operation and performance of the UUS.
    resignation, the Company must then appoint a new DPS                6. Managing and controlling any risks existing within their
    member according to the relevant regulation.                             professional context.
4. A DPS member who resigns before their term of office ends            7. Applying GCG in the respective unit
    must be held responsible for their tasks during their active
    tenure, as reported in the incoming Annual GMS.                     Report on the Implementation of the
5. Any termination and/or resignation of DPS members must               Company’s UUS Activities
    be reported to OJK within 10 (ten) calendar days after the
    effective date of a termination and/or resignation.                 Transparency of Financial and Non-Financial Conditions,
                                                                        GCG Implementation Reports and Internal Reporting

Director of Sharia Business unit (UUS)                                  Throughout 2023, the Bank has published quarterly financial
of the Company                                                          reports both through the website www.btn.co.id and through
                                                                        newspapers, and reported them to regulators in accordance with
The Company’s Sharia Business Unit (UUS) is led by the Director         regulations and on time. A recapitulation of the publication of
of Sharia Banking who is fully responsible for the implementation       quarterly financial reports through newspapers and online media
of sharia business management prudentially in accordance with           is as follows:
the sharia principles. The appointment of the Director is based on
integrity, competence, adequate financial reputation, experience
                                                                              Quarterly            Newspaper                Date
as a bank executive officer in bank’s operations, and passing
the fit and proper test as required in Bank Indonesia Regulation                               Investor Daily
                                                                               IV-2022         Bisnis Indonesia      February 17, 2023
No.14/6/PBI/2012 on fit and proper test in Sharia Banks and
                                                                                               www.btn.co.id
Sharia Business Units.
                                                                                               Investor Daily
                                                                               I-2023                                April 27, 2023
                                                                                               www.btn.co.id
Currently, the position of director of the Company’s Sharia
Business Unit is held by Mr. Hirwandi Gafar as stipulated in the               II-2023         www.btn.co.id         July 21, 2023
Meeting on December 3, 2019, and has obtained OJK approval
                                                                                               Indonesian Business
through Letter number SR-6/ PB.1/2021 dated March 2, 2021,                     III-2022                              November 28, 2023
                                                                                               www.btn.co.id




680         PT Bank Tabungan Negara (Persero) Tbk
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List of Consultants, Advisors or the equivalent used by                                        Number of Deviations (Internal Fraud) that Occurred and
UUS Bank BTN                                                                                   Settlement Efforts by UUS

Based on the Cooperation Agreement document between UUS                                        In order to reduce internal irregularities (internal fraud) committed
Bank BTN and consultants related to activities and operational                                 by management, permanent and non-permanent employees
activities at UUS Bank BTN, throughout 2023 UUS Bank BTN has                                   (honorary and outsourced) related to the work processes and
collaborated with consultants, namely the Indonesian Banking                                   operational activities of UUS Bank BTN which significantly affect
Development Institute (LPPI) for Drafting/Financing Policy                                     the performance conditions of UUS Bank BTN, UUS Bank BTN
Preparation consultant services Consumer.                                                      carries out various preventive measures against the possibility of
                                                                                               internal fraud committed by employees.



During 2023, irregularities/fraud related to UUS work processes and operational activities can be explained in the following table:


                                                                                           Number of Cases Performed By

                                                  board of Commissioners                          Permanent employee                           Temporary employees
      Internal Fraud in 1 year

                                              Previous year           Current year          Previous year             Current year        Previous year          Current year

 Total Fraud                                           -                       -                     2                     1                       -                     -

 It has been resolved                                  -                       -                     2                     1                                             -
 In the process of being resolved
                                                       -                       -                     -                      -                      -                     --
 internally at UUS
 No solution has been attempted
                                                       -                       -                     -                      -                      -                     -
 yet
 It has been followed up through
                                                       -                       -                     -                      -                      -                     -
 the legal process

Information:
1. The number of cases in the current year is based on the Special Audit Results Report and Preliminary Review Report for the period January - December 2023.
2. Cases that have been “Resolved” are cases that have received sanction decisions from the Board of Directors - December 2023.
3. Cases that are “In the process of resolution in the Bank Internal” are cases that have not received a sanction decision from the Board of Directors until December 2023.
4. Cases that “Have been followed up through the legal process” are cases that have been “Resolved” and given criminal sanction decisions. The legal process was followed up by LGD.




Number of Legal Problems and Settlement Efforts by UUS                                         Non-Halal Income and Its use

Throughout 2023, civil and criminal legal issues faced by UUS                                  Non-halal income obtained includes, among other things, fines or
Bank BTN and which have been submitted through the legal                                       interest income from placements with Bank BTN (Parent) which are
process, are as follows:                                                                       used as liquidity funds for Sharia Branch Offices. The total income
                                                                                               earned during 2023 (in full Rupiah figures) is as follows:
                                                            Amount
              Legal Issues                                                                                                                                    December 31,
                                                   Civil              Criminal                  No.                       Description
                                                                                                                                                                  2023
 It has been completed (has
                                                     18                    0                             Sources of Benevolent Funds at the
 permanent legal force).                                                                        1.                                                            2.271.854.526
                                                                                                         Beginning of the Period
 In the process of being resolved.                   16                    1
                                                                                                2.       Receipt of Benevolent Funds
 Total                                               34                    1
                                                                                                         A.    Infaq                                                             -

                                                                                                         B.    Alms                                                              -
In resolving legal problems faced by UUS of Bank BTN,
                                                                                                         C.    Productive benevolence refunds                                    -
deliberation is always prioritized when facing disputes with
                                                                                                         D.    Fine                                              120.591.195
customers. However, if deliberation cannot resolve the dispute,
then UUS Bank and the customer agree to resolve the dispute                                              E.    Non-halal acceptance                                 1.012.764
using arbitration or through a judicial institution based on                                             Total Receipts                                          121.603.959
applicable laws and regulations and in accordance with Sharia
Principles.




                                                                                                     PT Bank Tabungan Negara (Persero) Tbk                                    681
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                                                                   Governance




                                                       December 31,                Conduct a UUS GCG Self Assessment
 No.                  Description
                                                           2023
                                                                                   In order to create a healthy, prudent and resilient sharia banking
 3.     Use of Benevolent Funds
                                                                                   industry, Bank BTN as an entity operating in the banking sector,
        A.   Productive Benevolent Fund                                 -          through its Sharia Business Unit, is obliged to implement Good
        B.   Donations                                                  -          Corporate Governance and comply with Sharia Principles.
                                                                                   Implementation of GCG is an effort to protect stakeholder
        C. Other uses are for the public
                                                       2.270.866.258               interests and increase compliance with laws and regulations and
           interest
                                                                                   ethical values generally accepted in the sharia banking industry.
        Total Usage                                    2.270.866.258

                                                                                   GCG implementation requires an assessment to see the extent of
        Increase (Decrease) in Sources of
 4.                                                   (2.149.262.299)              progress towards the GCG principles that have been implemented
        Benevolent Funds for Use
                                                                                   by the Company. This assessment is also useful for ensuring
        Sources of Benevolent Funds at the End                                     continuous improvement in the quality of GCG implementation
 5.                                                      122.592.227
        of the Period
                                                                                   in business processes. UUS Bank BTN has carried out a self-
                                                                                   assessment in accordance with BI/OJK regulations which require
                                                                                   the Bank to carry out its own assessment (internal self-assessment)
                                                                                   on the implementation of GCG.




The results of the Bank BTN UUS self-assessment for the period January to December 2023 can be presented as follows:

 No.                                                Factor                                              Weight (%)        Rating           Mark

 1      Implementation of the duties and responsibilities of the Director in charge of UUS                0.35            1.00            0.35

 2      Implementation of the duties and responsibilities of the Sharia Supervisory Board                 0.20            1.00            0.20

        Pelaksanaan Prinsip Syariah dalam kegiatan penghimpunan dana dan penyaluran dana
 3                                                                                                        0.10            2.00            0.20
        serta pelayanan jasa

 4      Distribution of funds to core financing customers and storage of funds by core depositors         0.10            2.00            0.20

        Transparency of Financial and Non-Financial Conditions, GCG Implementation Reports and
 5                                                                                                        0.25            2.00            0.50
        Internal Reporting

 Total Composite Value                                                                                    1.00                            1.75

 Number Criteria                                                                                                             2

 Predicate                                                                                                                GOOD




                                                                                   Implementation of Compliance with Sharia Principles
Based on the results of the Self Assessment that we have carried
out, the composite score for the Sharia Business Unit of PT Bank                   Based on OJK Regulation Number 46/POJK.03/2017 dated
Tabungan Negara (Persero) Tbk is 1.75 with criteria number 2                       12 July 2017 concerning the Implementation of Compliance
and the predicate "Good", this composite score is the same as                      Functions for Commercial Banks, the Company, through the
the previous year's composite score. This reflects that the Bank's                 Director in charge of the Compliance Function, coordinates with
management has implemented GCG which is generally quite                            the Sharia Supervisory Board regarding the implementation of
good and consistent. This is reflected in adequate fulfillment                     the compliance function towards Sharia Principles. In 2023, a
of GCG principles. If there are weaknesses in the application                      coordination meeting was held between the Director in charge
of GCG principles, then in general these weaknesses can be                         of the Compliance Function, the Director of UUS and the
resolved properly by Bank management.                                              Sharia Supervisory Board 1 (one) time on September 1 2023




682          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                 2023 Annual Report




to ensure that the implementation of the monitoring function for            funds, which can influence behavior. Bank third party fund
compliance with sharia principles in the BTN Sharia Business                customers. Return Risk Measurement is based on assessment
Unit (UUS) was good. at the Head Office and Branch Offices                  results using parameters/indicators, namely the composition
it has been carried out well by the Sharia Supervisory Board.               of third party funds, the bank's strategy and performance
Overall, the implementation of the supervisory duties of the                in generating profits/revenue as well as the behavior of
Company's Sharia Supervisory Board regarding the new product                third party fund customers. These three indicators are used
development process and supervision of the Bank's activities has            by the Treasury Department Sharia Business Unit (UUS) in
been reported through the Sharia Supervisory Board Supervision              managing Return Risk. In order to monitor Yield Risk and
Report per 6 (six) months, ending in June and December.                     ensure that the returns given to customers are maintained,
                                                                            the Sharia Banking Division (SHAD), in this case the Treasury
SHARIA BUSINESS UNIT RISK MANAGEMENT REPORTING                              Department, manages policies related to special Financing
In the 2023 period, UUS has submitted a Quarterly Risk Profile              Profit Sharing margins in coordination with business units, in
Report to OJK in accordance with the provisions, namely as                  this case the Commercial Financing Department and Branch
follows:                                                                    Offices. Sharia.
1. 128/DIR/ERMD-SHAD/I/2023 Submission of BTN Sharia                     b. Investment Risk Management
     Business Unit Risk Profile Report for Quarter IV/2022.                 Investment Risk is the risk resulting from the Bank sharing in the
2. 444/DIR/ERMD/IV/2023 Submission of BTN Sharia Business                   customer's business losses financed in profit sharing based
     Unit Risk Profile Report for Quarter I/2023.                           financing, whether using the net revenue sharing method
3. 645/DIR/ERMD/VII/2023 Submission of BTN Sharia                           or using the profit and loss sharing method. Investment Risk
     Business Unit Risk Profile Report for Quarter II/2023.                 Management is the management of financing risks provided
4. 892/S/DIR/ERMD/X/2023 Submission of Bank BTN UUS                         on a Profit Sharing basis which is part of the Bank's Risk
     Risk Profile Report for Quarter III/2023 Period.                       Management Policy Guidelines for Bank Sharia Business Units
5. 71/S/DIR/ERMD/I/2024 Submission of Bank BTN UUS Risk                     (UUS) and is prepared as part of the risk assessment process.
     Profile Report for Quarter IV/2023 Period.                             Investment Risk Exposure is monitored from the Financing
                                                                            granting process until the Financing maturity. Investment
In the Sharia Business Unit, reports for risk management are no             Risk Measurement uses parameters/indicators consisting of
different from conventional commercial banks, but 2 (two) types             the composition and level of concentration of profit-sharing
of risk are added, namely:                                                  based financing, the quality of profit-sharing-based financing
a. Return Risk Management                                                   and external factors. These three indicators are used by the
     Sharia Banking Division (SHAD) employees, including Bank               Commercial Financing Department in the Sharia Business
     business unit management, are part of implementing Risk                Unit (UUS) in managing Investment Risk. Monitoring and
     Management for Return Risk, considering that Returns are the           controlling investment risk includes evaluating profit sharing-
     result of all Sharia Business Unit (UUS) business activities. The      based financing risk exposure against investment risk limits
     role of Business Unit Management, in this case the Treasury            and reviewing Internal Credit Rating policies between the
     Department of the Sharia Business Unit (UUS), is to identify           Commercial Financing Department in the Sharia Business
     Return Risk on Risk resulting from changes in the rate of              Unit (UUS) together with the Wholesale Credit Risk Division
     return paid by the Bank to customers, due to changes in the            (WRD). Management of profit sharing based financing is
     rate of return received by the Bank from the distribution of           carried out by the Commercial Financing Department at the
                                                                            Sharia Business Unit (UUS) and Sharia Branch Offices.




                                                                             PT Bank Tabungan Negara (Persero) Tbk                    683
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                                                                Corporate
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Public Company Governance
Implementation Guidelines

The Company always complies with applicable regulations in implementing GCG. It includes referring to the Public Company Governance
Guidelines stipulated in OJK Regulation No. 21/POJK.04/2015 and OJK Circular Letter No. 32/SEOJK.04/2015 concerning Public
Company Governance Guidelines. The POJK regulates 5 (five) aspects, 8 (eight) principles, and 25 (twenty-five) recommendations for
the implementation of aspects and principles of good corporate governance. Until the end of 2023, the Company has implemented all
recommendations in the regulation with the following detailed information:


 No                           Aspects; Principles; Recommendations                                                Comply or Explain
A.     Aspect 1: Relationship of Public Company with Shareholders in Guaranteeing the Rights of Shareholders
       A.1.    Principle 1: Increasing the Value of the General Meeting of Shareholders (GMS) Holding.
               A.1.1.   Recommendation1 : Public Company has technical ways or                   a.   The voting procedure in making decisions on an
                                          procedures for voting both in an open and                   agenda of the GMS is carried out by collecting
                                          closed manner that prioritize independence                  votes in a closed manner as stated in the GMS
                                          and the interests of shareholders.                          Rules, which are disclosed to the public through
                        Explanation     : Each share with issued voting rights has                    the Company’s Website.
                                          one voting right (one share, one vote).                b. The voting procedure has maintained the
                                          Shareholders can exercise their voting                      independence or freedom of shareholders.
                                          rights during decision-making, especially in                In 2023, the Company held an Annual General
                                          making decisions through voting. However,                   Meeting of Shareholders on March 16, 2023. All
                                          the mechanism for decision-making through                   decisions are made based on consensus. In the
                                          voting, both in an open and closed manner,                  condition that a decision based on consensus is
                                          has not been regulated in detail. Public                    not reached, a vote is carried out. A decision is
                                          Companies are recommended to have a                         taken if it is agreed by more than 1/2 (a half)
                                          voting procedure in making decisions on an                  part of the total number of shares with valid
                                          agenda of the GMS. The voting procedure                     voting rights present at the meeting.
                                          must maintain the independence or freedom              Voting was executed through the following procedures:
                                          of shareholders. For ex-ample, voting is               a. Shareholders or their proxies who casted
                                          held openly by raising hands following                      abstention or those who disagreed were asked
                                          the instructions offered by the chairman of                 to raise their hands and hand over their ballots to
                                          the GMS. Meanwhile, voting in a closed                      the officers.
                                          manner is carried out on decisions that                b. The Meeting Officer collected the ballots from the
                                          require confidentiality or at the request of                shareholders or their proxies and then submitted
                                          shareholders by using ballots or electronic                 them to the Notary to be counted.
                                          voting.                                                c. The number of votes that abstained and disagreed
                                                                                                      was counted towards the valid votes issued at the
                                                                                                      meeting, and the difference was the number of
                                                                                                      votes agreed.
                                                                                                 d. Shareholders with valid voting rights but who
                                                                                                      did not vote (abstained) were considered to
                                                                                                      have casted the same vote as the majority of
                                                                                                      shareholders who cast votes.
                                                                                                 e. The Notary counted and submitted the voting
                                                                                                      results regarding the proposed decision.

                                                                                                 Comply
               A.1.2.   Recommendation 2 : All members of the Board of Directors and the         In the execution of the GMS, the Company complied
                                           Board of Commissioners of Public Company              with all applicable regulations. Throughout the Annual
                                           participate in the Annual GMS.                        General Meeting of Shareholders held on March 16,
                        Explanation      : The presence of all members of the Board              2023, all members of the Board of Directors and the
                                           of Directors and members of the Board of              Board of Commissioners, including members of the
                                           Commissioners of Public Company has an                Audit Committee, were present
                                           aim. It is to ensure that every member of the
                                           Board of Directors and members of the Board           Comply
                                           of Commissioners can pay attention, explain,
                                           and directly answer the problems that occur or
                                           the questions asked by shareholders related to
                                           the agenda in the GMS.




684           PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                     2023 Annual Report




No                        Aspects; Principles; Recommendations                                                 Comply or Explain
            A.1.3.   Recommendation3     : A summary of GMS minutes is available on the       The Company provides a summary of the minutes of
                                           Website of the Public Company for at least one     the GMS in Indonesian and English via the Company's
                                           (1) year.                                          website www.btn.co.id in the Investor Relations
                     Explanation         : Based on the provisions in Article 34 paragraph    menu, as well as in print media as well as through
                                           (2) of the Financial Services Authority            the electronic reporting system IDXnet and OJK
                                           Regulation     Num-ber      32/POJK.04/2014        E-reporting, namely on the date March 17 2023 for
                                           concerning the Plan and Implementation             the Annual GMS for the 2022 Financial Year
                                           of the General Meeting of Shareholders of
                                           Public Companies, Public Companies are             Comply
                                           required to make a summary of GMS minutes
                                           in Indonesian and foreign languages (at least
                                           in English), and announced 2 (two) working
                                           days after the GMS is held to the public, one of
                                           which is through the Public Company Website.
                                           The availability of a summary of GMS minutes
                                           on the Public Company Website provides an
                                           opportunity for shareholders who are absent to
                                           easily and quickly obtain important information
                                           about the GMS implementation. Therefore, the
                                           provision on the minimum period of availability
                                           of a summary of GMS minutes on the Website
                                           is intended to provide sufficient time for
                                           shareholders to obtain such information.
     A.2.   Prinsip 2 : Meningkatkan Kualitas Komunikasi Perusahaan Terbuka dengan Pemegang Saham atau Investor.
            A.2.1.   Recommendation 4 : Public Company possesses a communication              The Company has in place a communication policy
                                        policy with Shareholders or Investors.                with Stakeholders or Investors referring to the Investor
                     Explanation      : The existence of communication between the            Relation Policy, which includes analyst meetings,
                                        Public Company and shareholders or investors          public exposure, investor meetings, Annual Reports,
                                        is intended for the shareholders or investors to      and others.
                                        get a clearer understanding of the information        Technical Instruction Number PT.9-AD.9 dated
                                        that has been published to the public, such as        September      18,     2023,      concerning       Bank
                                        periodic reports, the disclosure of information,      Communication Management PT Bank Tabungan
                                        business conditions or prospects and                  (Persero) Tbk
                                        performance, as well as the implementation
                                        of public company governance. In addition,
                                        shareholders or investors can also submit             Comply
                                        suggestions and opinions to the management
                                        of the Public Company. The communication
                                        policy with shareholders or investors shows
                                        the Public Company’s commitment to
                                        communicating with shareholders or investors.
                                        The policy may include strategies, programs,
                                        and communication execution timing, as well
                                        as guidance that supports shareholders or
                                        investors to participate in such communications.
            A.2.2.   Recommendation 5 : The Public Company discloses the                      The company has disclosed its policies communication
                                        communication policy of the Public                    with shareholders or investors on the Company's
                                        Company with Sharehold-ers or Investors               website (www.btn.co.id) Investor Relations menu -
                                        on the Company Website.                               Policy Guidelines Investor Relations.
                     Explanation      : Disclosure of communication policy is a
                                        form of transparency on the commitment of             Comply
                                        the Public Company to providing equality
                                        to all shareholders or investors regarding
                                        the implementation of communication.
                                        The disclosure of information also aims
                                        to increase the participation and role of
                                        shareholders or inves-tors in implementing
                                        the    Public  Company      communication
                                        program.




                                                                               PT Bank Tabungan Negara (Persero) Tbk                           685
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                                                                 Corporate
                                                                 Governance




No                           Aspects; Principles; Recommendations                                                      Comply or Explain
B.    Aspect 2: Board of Commissioners’ Function and Role
      B.1.    Principle 3: Strengthening membership and composition of the Board of Commissioners
              B.1.1.   Recommendation 6      : Determination of the number of members of the           Determination of the number of members of the Board
                                               Board of Commissioners by considering the               of Commissioners has considered the condition of
                                               Public Company’s condition.                             the Company. It includes characteristics, capacity,
                       Explanation           : The number of members of the Board of                   size, and the means of fulfilling the Bank’s business
                                               Commissioners may affect the effectiveness of the       requirements and goals following the provisions of
                                               Board of Commissioners’ duties. The number of           the Regulator. The current number of members of
                                               the Board of Commissioners members in a Public          the Board of Commissioners is considered sufficient
                                               Company must be determined by referring to the          and following FSA Regulation Number 33/
                                               provisions of the applicable laws and regulations.      POJK.04/2014 concerning the Board of Directors
                                               The Board of Commissioners members consist of           and the Board of Commissioners of Issuers or Public
                                               at least two people based on the requirements of        Companies or equal to the number of members of the
                                               the Financial Ser-vices Authority (FSA) Regulation      Board of Directors.
                                               Number 33/POJK.04/2014 concerning the
                                               Board of Directors and Board of Commissioners
                                               of Issuers or Public Companies. In addition, it         Comply
                                               is also necessary to consider the condition of
                                               the Public Company. It includes characteristics,
                                               capacity, and size, as well as achieving goals
                                               and fulfilling different business needs among
                                               Public Companies. However, if the number of the
                                               Board of Commissioners members is too large,
                                               it could interfere with the effectiveness of the
                                               implementation of the functions of the Board of
                                               Commissioners.
              B.1.2.   Recommendation 7      : Determination of the composition of members of the      The composition of members of the Board of
                                               Board of Commissioners considering the diversity of     Commissioners was made by considering the diversity
                                               expertise, knowledge, and experience required.          of expertise, knowledge, and experience required, as
                       Explanation           : The composition of the Board of Commissioners is        disclosed in the Diversity Composition section of the
                                               a combination of characteristics both in terms of the   Board of Commissioners in this Annual Report.
                                               organs of the Board of Commissioners and members
                                               of the Board of Commissioners individually, follow-     Comply
                                               ing the needs of the Public Company. These
                                               characteristics can be reflected in the determination
                                               of the expertise, knowledge, and experience
                                               needed in implementing supervisory duties and
                                               providing advice by the Board of Commissioners of
                                               a Public Company. The composition that considers
                                               the needs of the Public Company is a positive
                                               matter, primarily related to decision-making in the
                                               context of implementing the supervisory function
                                               carried out by considering various broader aspects.
      B.2.    Principle 4: Improving the Implementation Quality of Duties and Responsibilities of the Board of Commissioners.
              B.2.1.   Recommendation 8
                                   : The Board of Commissioners has in place a Self-                   The Board of Commissioners has a self-assessment
                                     Assessment policy that assesses the perfor-mance                  policy as stated in the Joint Decree on the Working
                                     of the Board of Commissioners.                                    Relations of the Board of Commissioners and Directors
                       Explanation : The Board of Commissioners’ self-assessment                       of the Company in the Joint Decree of the Board of
                                     policy is a guideline used as a form of                           Commissioners No. 01/DEKOMBTN/2021 and the
                                     accountability for collegial assessment of the                    Board of Directors No. 01/DIRBTN/2021, Chapter IV
                                     Board of Commissioners’ performance. Self-                        Performance Evaluation as outlined in the perfor-mance
                                     assessment is intended to be carried out by                       assessment section of the Board of Commissioners in
                                     each member to assess the implementation of                       this Annual Report and the Company Website (www.
                                     the Board of Commissioners’ performance in                        btn.co.id) Investor Relations menu – GCG – Cross
                                     a collegial manner. Self-assessment is not used                   Reference ASEAN CG Scorecard – SKB.
                                     to evaluate the individual performance of each
                                     mem-ber of the Board of Commissioners. With                       Comply
                                     this self-assessment, each member of the Board
                                     of Commis-sioners is expected to improve the
                                     performance of the Board of Commissioners on
                                     an ongoing basis.
                       		 The policy can include assessment activities
                                     carried out along with their purposes and
                                     objectives, the periodic implementation time,
                                     and the benchmarks or assessment criteria used
                                     following the recom-mendations given by the
                                     nomination and remuneration function of a Public
                                     Company. The existence of this function has
                                     been required in the Financial Services Authority
                                     Regulation       Number      34/POJK.04/2014
                                     concerning the Nomination and Remuneration
                                     Committee of Issuers or Public Companies.



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                                                                                                2023 Annual Report




No                 Aspects; Principles; Recommendations                                                   Comply or Explain
     B.2.2.   Recommendation 9 : Self-Assessment     policies    assessing    the        The Self-Assessment policy to assess the performance
                                 performance of the Board of Commissioners               of the Board of Commissioners was disclosed in
                                 are to be disclosed through the Annual Report           the performance evaluation section of the Board of
                                 of the Public Company.                                  Commissioners in this Annual Repor.
              Explanation      : The disclosure of the self-assessment
                                 policy on the performance of the Board of               Comply
                                 Commissioners is carried out not solely to
                                 fulfill the transparency aspect as a form of
                                 accountability for implementing the board’s
                                 duties. In addition, it also provides assurance,
                                 especially to shareholders or investors, as
                                 at-tempts need to be made to improve the
                                 performance of the Board of Commissioners.
                                 With this disclo-sure, shareholders or investors
                                 know the check and balance mechanism for the
                                 performance of the Board of Commissioners.
     B.2.3.   Recommendation 10 : The Board of Commissioners has a policy                The Company has a policy under the Board of
                                  regarding the resignation of members of the            Commissioners Guidelines and Work Rules in the
                                  Board of Commissioners if involved in financial        Decision of the Board of Commissioners No.01/
                                  crimes.                                                DEKOM-BTN/2021 regarding the Resignation and
              Explanation       : The policy regarding the resignation of members        Dismissal of members of the Board of Commissioners.
                                  of the Board of Commissioners involved in              This policy regulates whether the board members
                                  financial crimes is a policy that can increase         are involved in any deed considered harmful to
                                  the trust of stakeholders in the Public Company,       the Company and/ or the State and if the person
                                  which will maintain the integrity of the Company.      concerned is found guilty in a court of law with
                                  This policy is needed to help the legal process        permanent legal force
                                  run smoothly so that the le-gal process does not
                                  interfere with the course of business activities. In   Comply
                                  addition, in terms of morality, this policy builds
                                  an ethical culture within the Public Company.
                                  The policy may be included in the Guidelines
                                  or Code of Ethics applicable to the Board of
                                  Commissioners.
              		 Furthermore, the status of a convict is given by
                                  the competent authority to a member of the Board
                                  of Commissioners who is involved in financial
                                  crimes. Financial crimes refer to manipulation
                                  and various forms of embezzlement in financial
                                  services activities and Money Laundering
                                  Crimes as referred to in Law Number 8 of 2010
                                  concerning the Prevention and Eradication of
                                  Money Laundering Crimes.
     B.2.4.   Recommendation 11 : The Board of Commissioners or the Committee            The appointment and dismissal of the Company’s
                                  that performs the Nomination and Remuneration          Directors are based on the principles of professionalism
                                  function composed a Nomination succession              and GCG. Since the Company is a State-Owned
                                  policy for members of the Board of Directors.          Enterprise (SEO), the succession policy of the Board of
              Explanation       : Based on the provisions of the Financial               Directors refers to Minister of State-Owned Enterprises
                                  Services Authority Regulation Number 34/               Regulation No. PER/11/MBU/07/2021 concerning
                                  POJK.04/2014 con-cerning the Nomination                the Requirements, Procedures for Appointment and
                                  and Remuneration Committee of Issuers or               Dismissal of Directors of State-Owned Enterprises.
                                  Public Companies, the committee that carries           In addition, as a Public Company, the Company’s
                                  out the nomination function has the task of            policy also refers to the Financial Services Authority
                                  formulating the policies and criteria needed           regulation Number 33/POJK.04/2014 concerning
                                  in the nomination process for prospective              Directors and Commissioners of Issuers or Public
                                  members of the Board of Directors. One of              Companies. The description of the succession policy
                                  the policies that can support the Nomination           in the Nomination process of the members of the
                                  process, as referred to, is the succession             Company’s Board of Directors has been disclosed in
                                  policy of members of the Board of Di-rectors.          the Policy section of the Board of Directors’ Annual
                                  The policy on succession aims to maintain the          Report Succession.
                                  continuity of the process of regeneration or
                                  re-generation of leadership in the Company             Comply
                                  to maintain business sustainability and the
                                  Company’s long-term goals.




                                                                          PT Bank Tabungan Negara (Persero) Tbk                           687
Page 319
                                                                Corporate
                                                                Governance




No                          Aspects; Principles; Recommendations                                                 Comply or Explain
C.    Aspect 3: Functions and Roles of the Board of Directors
      C.1.    Principle 5: Strengthening the Membership and Composition of the Board of Directors.
              C.1.1.   Recommendation 12 : Determination of the number of members of            Determination of the number of members of the Board
                                           the Board of Directors considers the Public          of Directors has taken into consideration the Company’s
                                           Company’s condition and effectiveness in             condition, including characteristics, capacity, and
                                           decision making.                                     size, as well as the means of achieving objectives and
                       Explanation       : As an authorized corporate organ that deals          fulfilling the Bank’s business requirements following
                                           with the management of the Company, the              Regulatory provisions. The number of members of the
                                           determination of the number of Directors             Board of Directors has fulfilled the provisions of FSA
                                           dramatically affects the performance of the Public   Regulation No. 33/ POJK.04/2014 concerning the
                                           Company. Thus, the number of members of the          Board of Directors and Commissioners of Issuers or
                                           Board of Directors must be determined through        Public Companies.
                                           careful consideration and refer to the applicable
                                           laws and regulations. It must be based on the        Comply
                                           Financial Services Authority Regulation Number
                                           33 / POJK.04 / 2014 concerning the Board of
                                           Directors and Board of Commissioners of Issuers
                                           or Public Companies consisting of at least 2 (two)
                                           people. In addition, the number of Directors must
                                           be determined based on the need to achieve the
                                           goals and objectives of the Public Company and
                                           adjusted to the conditions of the Public Company.
                                           This condition includes the characteristics,
                                           capacity, and size of the Public Company and
                                           how to achieve the effectiveness of the Board of
                                           Directors’ decision making.
              C.1.2.   Recommendation 13 : Determination of the composition of members of       The composition of the Board of Directors members
                                           the Board of Directors considers the diversity of    has taken into consideration the diversity of expertise,
                                           expertise, knowledge, and experience needed.         knowledge, and experience required, as disclosed
                       Explanation       : Similar to the Board of Commissioners, the           in the Diversity Composition section of the Board of
                                           diversity of the composition of members of the       Directors in this Annual Report.
                                           Board of Directors is a combination of desired
                                           characteristics. This combination is in terms of     Comply
                                           the organs of the Board of Directors and the
                                           individual members of the Board of Directors,
                                           following the needs of the Public Company. It
                                           is determined by considering the appropriate
                                           expertise, knowledge, and experience in the
                                           division of duties and functions of the Board
                                           of Directors in achieving the objectives of the
                                           Public Company. Thus, consideration of the
                                           characteristic combination will impact the
                                           accuracy of the nomination process and the
                                           individual appointment of members of the Board
                                           of Directors or collegial Board of Directors.
              C.1.3.   Recommendation 14 : Members of the Board of Directors in charge          In 2023, the Director in charge of accounting or
                                           of Accounting or Finance have the required           finance has an educational background and work
                                           expertise and/or knowledge in accounting.            experience in finance with the following information:
                       Explanation       : Financial Statements are management’s                a. Education
                                           accountability reports from managing resources            1 Bachelor of Economics
                                           owned by a Public Company. They must be                   2. Master of Economics
                                           prepared and presented following generally                3. Have work experience in banking
                                           accepted Financial Accounting Standards              b. Work Experience
                                           in Indonesia and related FSA regulations,                 1. Director of Finance (March 2021 – now)
                                           including laws and regulations in the Capital             2. Head of Treasury Division (2015-2021)
                                           Market sector that regulate the presentation              3. Acting Regional Head, Regional Office I
                                           and disclosure of Public Company Financial                     (2015)
                                           Statements. Based on the laws and regulations             4. Head of Treasury Division (2014)
                                           in the Capital Market sector that regulate the            5. Head of Institutional Banking Division (2013)
                                           responsibility of the Board of Directors for the          6. Post Office Alliance Desk Head (2012)
                                           Financial Statements, the Board of Directors is      The certification owned by the Director in charge of
                                           jointly responsible for the Financial Statements.    finance/ accounting can be seen in the Competency
                                           The President Director and members of the            Development section of the Board of Directors in this
                                           Board of Directors in charge of accounting or        Annual Report.
                                           finance sign the Financial Statements.
                                                                                                Comply




688          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                         2023 Annual Report




No                         Aspects; Principles; Recommendations                                                   Comply or Explain
                      		 Thus, the disclosure and preparation of
                         financial information presented in the financial
                         statements will largely depend on the expertise
                         and/or knowledge of the Board of Directors,
                         especially members of the Board of Directors in
                         charge of accounting or finance. The existence
                         of expertise and/or knowledge qualifications
                         in the accounting field that at least the members
                         of the Board of Directors have can ensure the
                         process of making the Financial Statements.
                         Thus, the Financial Statements can be a reliable
                         basis for stakeholders in making economic
                         decisions related to the Public Company. Such
                         expertise and/or knowledge can be proven by
                         educational background, training certification,
                         and/ or related work experience..
     C.2.   Principle 6: Improving the Quality of the Board of Directors’ Duties and Responsibilities.
            C.2.1.    Recommendation 15 : The Board of Directors has in place a                   The Board of Directors has in place a Self-Assessment
                                          Self-Assessment policy used to assess the               policy. It is stated in the Joint Decree regarding
                                          performance of the Board of Directors.                  the Working Relationship between the Board of
                      Explanation       : Similar to the Board of Commissioners, the              Commissioners and the Board of Directors of the
                                          Board of Directors self-assessment policy is            Company Year 2021 Chapter IV on Performance
                                          a guideline used as a form of accountability            Evaluation and the Valuation System. This self
                                          for collegial assessment of the Board of                assessment is summarized as Key Performance
                                          Directors’ performance. Self-assessment is              Indicators (KPI) as described in the Performance
                                          intended to be carried out by each member               Evaluation section of the Board of Directors of this
                                          of the Board of Directors. The aim is to                Annual Report and the Company’s Website (www.
                                          assess the implementation of the Board of               btn.co.id) under the Investor Relations-GCG menu –
                                          Directors’ performance in a collegial manner.           Cross Reference ASEAN CG Scorecard.
                                          Self-Assessment is not used to evaluate the
                                          individual performance of each member of the            Comply
                                          Board of Directors. With this self-assessment,
                                          each member of the Board of Directors is
                                          expected to improve the performance of the
                                          Board of Directors on an ongoing basis.
                      		 The policy may include assessment activities
                                          carried out along with their purposes and
                                          objectives, the periodic implementation time,
                                          and the benchmarks or assessment criteria
                                          used following the recommendations given by
                                          the nomination and remuneration function of
                                          a Public Company. The establishment of these
                                          functions has been required in the Financial
                                          Services Authority Regulation Number 34/
                                          POJK.04/2014 concerning the Nomination
                                          and Remuneration Committee of Issuers or
                                          Public Companies.
            C.2.2.    Recommendation 16 : Self-Assessment policies in order to assess the         The Self-Assessment policy to assess the performance
                                          performance of the Board of Directors are               of the Board of Directors has been disclosed in this
                                          disclosed through the Annual Report of the              Annual Report under the Performance Evaluation
                                          Public Company.                                         section of the Board of Directors.
                      Explanation       : The disclosure of the self-assessment
                                          policy regarding the Board of Directors’                Comply
                                          performance is carried out not solely to
                                          fulfill the transparency aspect as a form of
                                          accountability for implementing the Board of
                                          Directors’ duties. In addition, it also provides
                                          essential information regarding the attempts
                                          to improve the management of the Public
                                          Company. This information is beneficial to
                                          give assurance to shareholders or investors
                                          regarding the existence of certainty that the
                                          Company management continues to be carried
                                          out in a better direction. With this disclosure,
                                          shareholders or investors know the check and
                                          balance mechanism for the performance of the
                                          Board of Directors.




                                                                                   PT Bank Tabungan Negara (Persero) Tbk                        689
Page 321
                                                                Corporate
                                                                Governance




No                          Aspects; Principles; Recommendations                                                      Comply or Explain
              C.2.3.   Recommendation 17 : The Board of Directors has a policy related to the        The Company has in place a policy in the Board of
                                           resignation of members of the Board of Directors          Commissioners Charter under the Decree of the Board
                                           when involved in financial crimes.                        of Directors Number 07/DIR/KD/ CMPD/2017
                       Explanation       : The policy of resignation for members of the              regarding the Resignation and Dismissal of members
                                           Board of Directors involved in financial crimes           of the Board of Directors if involved in actions
                                           is a policy that can increase the stakeholders’           considered to harm the Company and/or the State
                                           trust in the Public Company, which in return will         and if the individual involved is found guilty in a court
                                           maintain the Company’s integrity. This policy is          of law having permanent legal force.
                                           needed to help the legal process runs smoothly
                                           and so that the legal process does not interfere          Comply
                                           with the course of business activities. In addition,
                                           in terms of morality, this policy will build an ethical
                                           culture within the Public Company. The policy
                                           may be covered by the Guidelines or Code of
                                           Ethics applicable to the Board of Directors.
                                           Furthermore, the status of a convict is given by
                                           the competent authority to a member of the Board
                                           of Commissioners who is involved in financial
                                           crimes. Financial crimes refer to manipulation
                                           and various forms of embezzlement in financial
                                           services activities and Money Laundering
                                           Crimes as referred to in Law Number 8 of 2010
                                           concerning the Prevention and Eradication of
                                           Money Laundering Crimes.
D.    Aspect 4: Stakeholder Participation
      D.1.    Principle 7: Upgrading corporate governance aspects through stakeholder participation.
              D.1.1.   Recommendation 18 : The Public Company has in place policies to               The Company has a policy to prevent insider trading
                                           prevent Insider Trading.                                  as stipulated in Special Policy Number KK.9-AA dated
                       Explanation       : A person with insider information is prohibited           September 15, 2023, concerning Investor Relations
                                           from conducting a Securities transaction using            Activities as can be seen on the Company’s website
                                           insider information as referred to in the Law on          (www.btn.co.id) Investor Relations menu – Investor
                                           Capital Market. Public Companies can minimize             Relations Policy Guidelines.
                                           the occurrence of insider trading through
                                           prevention policies, for example, by strictly             Comply
                                           separating confidential data and/or information
                                           from public ones and dividing the duties and
                                           responsibilities for the management of such
                                           information proportionally and efficiently.
              D.1.2.   Recommendation 19 : The Public Company has in place an Anti-                  Anti-fraud implementation at Bank BTN is regulated
                                           Corruption and Anti-Fraud policy.                         by the Circular Letter of the Board of Directors No.
                       Explanation       : Anti-corruption policies are useful for ensuring          03/PD/DIR/PPBD/2020 dated March 31, 2020,
                                           that the business activities of public companies          concerning Guidelines for Anti-Fraud Strategi Policy.
                                           are carried out legally, prudently, and in                As a guideline in the implementation of Gratification
                                           accordance with the principles of good                    Control as an initiative of the national anti-corruption
                                           governance. The policy can be part of a                   program, the Company issued guidelines for the
                                           code of conduct or in its own form. The policy            gratification control guidelines in a Special Policy
                                           may include, among others, programs and                   Number KK.6-A dated April 25, 2022, concerning
                                           procedures carried out to overcome corrupt                Gratification Control Procedures.
                                           practices, kickbacks, fraud, bribery, and/ or
                                           gratification in a Public Company. The scope of           Complyv
                                           the policy must describe the prevention of the
                                           Public Company against all corrupt practices,
                                           either giving or receiving from other parties.
              D.1.3.   Recommendation 20 : The Public Company has a policy in place                  The Company has policies related to vendor
                                           regarding the selection and improvement of                management as stipulated in Special Policy Number
                                           suppliers or vendor ability.                              KK.9-H dated June 30, 2022 concerning Guidelines
                       Explanation       : The supplier or vendor selection policy is useful         for the Implementation of Procurement of Goods and/
                                           to ensure that the Public Company obtains the             or Services and Technical Guidelines Number PT.9-H.1
                                           necessary goods or services at competitive                dated September 29, 2023 concerning Guidelines
                                           prices and good quality. Meanwhile, the                   for the Implementation of Procurement of Goods
                                           policy of increasing the ability of suppliers             and/or Services. Generally, the scope of this policy
                                           or vendors helps ensure that the supply chain             includes, among others, criteria in vendor selection,
                                           runs efficiently and effectively. The suppliers’ or       transparent procurement mechanisms, evaluation
                                           vendors’ ability to supply/provide the goods or           of vendor performance, and vendor track record.
                                           services needed by the Company will affect the            Coaching vendors through coordination meetings
                                           quality of the Company’s output.                          and monitoring and evaluating vendor performance
                                                                                                     improves the ability of suppliers or vendors.




690          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                2023 Annual Report




No                 Aspects; Principles; Recommendations                                                  Comply or Explain
              		Thus, implementing these policies can                                   The vendor selection policy is implemented by
                 guarantee the continuity of supply, both in                            managing the Bank Associate List, which can be used
                 terms of quantity and quality needed by the                            as a vendor database in the application with the
                 Public Company. The scope of this policy                               direct appointment/ direct election/ direct selection
                 includes criteria in selecting suppliers or                            method. The Board of Directors Regulation and the
                 vendors, transparent procurement mechanisms,                           Circular Letter, as mentioned earlier, also regulate the
                 attempts to improve the capabilities of suppliers                      Standard Operating Procedure (SOP) of a transparent
                 or vendors, and the fulfillment of rights related                      procurement mechanism through the auction/ direct
                 to suppliers or vendors.                                               election/ direct selection/direct appointment method
              		 The Company has policies related to the                                and provisions on employment contracts with vendors.
                 procurement of goods and services that contain                         Thus, by implementing this policy, the continuity of
                 the selection and improvement of supplier or                           supply needed by the Company is expected to be
                 vendor capabilities as stated in the Procurement                       secured.
                 Guidelines standards.
                                                                                        Comply
     D.1.4.   Recommendation 21 : The Public Company has a policy on fulfilling         The policy regarding fulfilling creditor rights is utilized
                                  the creditors’ rights.                                as a guideline for providing loans to creditors. The
              Explanation       : The policy regarding the fulfillment of creditors’    policy aims to maintain the fulfillment of creditor rights
                                  rights is utilized as a guideline in making loans     and to maintain creditor trust in the Public Company.
                                  to creditors. The policy aims to maintain the         The policy includes consideration for making
                                  fulfillment of rights and maintain creditors’ trust   agreements and follow-up procedures in fulfilling the
                                  in the Public Company. The policy includes            obligations of the Public Company to creditors. The
                                  considerations in making agreements, as well          creditors’ basic rights policies include:
                                  as follow-up actions in fulfilling the obligations    a. To receive the repayment of Principal and Interest
                                  of the Public Company to creditors.                        payments at the agreed time.
                                                                                        b. To secure the rights to any penalties regarding the
                                                                                             repayment of Principal and Interest payments.
                                                                                        c. To request explanations, information, documents,
                                                                                             and inspect the Company’s books.

                                                                                        For 2023, there are 2 Company creditors, namely:
                                                                                        Bilateral Loan Creditors and Bond Creditors.

                                                                                        Comply
     D.1.5.   Recommendation 22 : Public Company has a whistleblowing system            The Company has a Whistleblowing System
                                  policy.                                               implementation policy regulated in Technical Guideline
              Explanation       : A well-prepared whistleblowing system policy          Number PT.7-B.2 dated October 31, 2023 concerning
                                  will provide certainty of protection to witnesses     Bank BTN Whistleblowing System Management
                                  or whistleblowers for an indication of violations     which includes the types of violations that can be
                                  committed by employees or management of               reported through the whistleblowing system , how to
                                  the Public Company. The implementation of             complain, protection, and guarantee of confidentiality
                                  these system policies will have an impact on the      of whistleblowers, handling complaints, parties who
                                  formation of good corporate governance culture.       manage complaints, and the results of handling and
                                  The whistleblowing system policy includes,            following up complaints according to OJK regulations.
                                  among others, the types of violations that can be     The disclosure of Whistleblowing System policy
                                  reported through the whistleblowing system, the       referred to in the 2023 period is described in the
                                  way of complaints, protection, and guarantees         Whistleblowing System section of this Annual Report.
                                  of the confidentiality of the whistleblower, the
                                  handling of complaints, the party who manages         Comply
                                  the complaint, and the results of handling and
                                  following up complaints.
     D.1.6.   Recommendation 23 : Public Company has a policy of providing              Long-term incentives for the Board of Directors and
                                  long-term incentives to the Board of Directors        the Board of Commissioners have been regulated,
                                  and employees.                                        namely:
              Explanation       : Long-term incentives are incentives based on          a. Board of Directors Regulation No.02/PD/
                                  the achievement of long-term performance.                 HCD/2017 concerning the Income of the Board
                                  The longterm incentive plan assumes that the              of Directors and Board of Commissioners,
                                  Company’s longterm performance is reflected           b. Board of Directors Regulation No.2/PD/DIR/
                                  by the growth in value of the stock or other              PPDB/2021 regarding amendments to Board
                                  Company’s long-term targets. Long-term                    of Directors Regulation No.02/PD/HCD/2017
                                  incentives are useful to maintain loyalty and             concerning the Income of the Board of Directors
                                  provide motivation to the Board of Directors              and Board of Commissioners,
                                  and employees to increase their performance           c. Circular Letter of the Board of Directors No.
                                  or productivity, which will have an impact on             16/SE/DIR/HCSD/2019           concerning     the
                                  improving the Company’s performance in the                Implementation of Governance in the Provision of
                                  long run.                                                 Remuneration,
                                                                                            Remuneration and incentives have been disclosed
                                                                                            in the Implementation of Governance section of
                                                                                            Bank BTN’s Remuneration Provision in this Annual
                                                                                            Report.




                                                                         PT Bank Tabungan Negara (Persero) Tbk                               691
Page 323
                                                                Corporate
                                                                Governance




No                           Aspects; Principles; Recommendations                                               Comply or Explain
                       		 The existence of a long-term incentive policy is a real              The Board of Directors Regulation includes deferred
                          commitment of the Public Company to encourage                        variable-based remuneration and Material Risk Taker
                          the implementation of long-term incentives to the                    as in Ministry of SOE Regulation No. 04/ MBU/2014
                          Board of Directors and Employees with conditions,                    concerning Guidelines for SOE Ministerial Regulation
                          procedures, and forms adjusted to the long-term                      Number Per-04/MBU/2014 as last amended
                          goals of the Public Company. The policy may                          by SOE Ministerial Regulation Number Per-13/
                          include, among others, the purpose and objectives of                 MBU/09/2021 dated September 24, 2021, and
                          providing long-term incentives, terms and procedures                 POJK Number 45/POJK.03/2015.
                          for providing incentives, and conditions and risks
                          that the Public Company must consider in providing                   Since 2009, the Company has implemented
                          incentives. The policy can also be included in the                   long-term incentives in the form of MESOP for
                          remuneration policy of the existing Public Company.                  Directors and Employees, as described in the Share
                                                                                               Option section in this Annual Report. In 2023, the
                                                                                               Company implemented performance and riskbased
                                                                                               remuneration.

                                                                                               Comply
E.    Aspect 5: Disclosure of Information
      E.1.    Principle 8: Improving the Implementation of the disclosure of information
              E.1.1.   Recommendation 24 : The Public Company utilizes information             The Company always strives to improve the quality of
                                           technology more broadly in addition to the          the disclosure of information to stakeholders. It is done
                                           Website as a medium for disclosing information.     through the use of information technology, in addition
                       Explanation       : The use of information technology can be a          to the Company’s Website, such as through social
                                           helpful medium for the disclosure of information.   media, namely:
                                           The disclosure of information is conducted          • YouTube Bank BTN,
                                           not only to disclose information that has been      • Facebook BankBTNcoid,
                                           regulated in laws and regulations but also to       • X @BankBTNcoid,
                                           disclose other information related to Public        • Instagram @bankbtn
                                           Companies that are considered helpful for the       • LinkedIn PT BankTabungan Negara
                                           knowledge of shareholders or investors. By using    The Company also provides information updates to
                                           information technology more broadly apart           shareholders via email, conference calls, and the
                                           from the Website, it is hoped that the Company      Capital Market TV IBCM Channel of the Indonesian
                                           can extend the effectiveness of disseminating       Stock Exchange, in addition to mentoring site visits
                                           company information. Nevertheless, the use          by investors to Bank BTN branch offices, Non-Deal
                                           of information technology is carried out while      Roadshows, one-on-one meetings, Analyst Meeting
                                           still considering the benefits and costs for the    Public Expose.
                                           Company.
                                                                                               Comply
              E.1.2.   Recommendation 25 : The Annual Report of the Public Company             The Annual Report of the Public Company discloses
                                           discloses the ultimate benefit of the Ownership     the ultimate benefit of the Ownership of the Public
                                           of the Public Company of at least 5%, in            Company of at least 5%, in addition to the disclosure of
                                           addition to the disclosure of the ultimate          the ultimate beneficial owner of the share ownership of
                                           beneficial owner of the share ownership of          the Public Company through the main and controlling
                                           the Public Company through the main and             shareholders.
                                           controlling shareholders.
                       Explanation       : Laws and regulations in the Capital Market          Comply
                                           sector governing the submission of Public
                                           Company annual reports have regulated the
                                           obligation to disclose information regarding
                                           shareholders who own 5% (five percent) or
                                           more of Public Company shares. In addition,
                                           the obligation to disclose information regarding
                                           major and controlling shareholders of Public
                                           Companies, either directly or indirectly, is up
                                           to the last beneficial owner in the ownership
                                           of the shares. In this Governance Guidelines,
                                           it is recommended to disclose the ultimate
                                           beneficial owner of share ownership of a
                                           Public Company of at least 5% (five percent),
                                           in addition to disclosing the ultimate beneficial
                                           owner of share ownership by major and
                                           controlling shareholders.




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Governance Principles for Banks Issued
by Basel Committee on Banking Supervision

Governance Guidelines are best practice standards that can be used as a reference in implementing corporate governance, especially
in the banking sector. They include 12 principles of corporate governance that can be summarized as follows.


         Principle                                   Description                                              Implementation in Bank BTN

                                                                                            In the Rules of Procedure for the Board of Commissioners of the
                                                                                            Company, as outlined in the Decree of the Board of Commissioners
                              The Board of Commissioners has responsibilities that          No.01/DEKOM-BTN/2017 dated August 10, 2017, concerning
 Principle 1
                              include: approval and oversight of the implementation of      Guidelines and Work Procedures for the Board of Commissioners,
 Responsibilities of the
                              business strategy, structure and governance mechanisms,       it is stated that the responsibility of the Board of Commissioners is
 Board of Commissioners
                              and corporate culture.                                        to provide opinions and suggestions on the annual work plan and
                                                                                            budget and provide advice on matters deemed important by the
                                                                                            Company, including corporate culture
                                                                                            The Company’s Board of Commissioners has no financial
                                                                                            relationship, management relationship, share ownership
                              Members of the Board of Commissioners must have quality       and/ or family relationship with other members of the Board
 Principle 2 Qualifications   in their duties and responsibilities, both individually and   of Commissioners, the Board of Directors, and/or Controlling
 and composition of the       collegially. They must understand their role in supervising   Shareholders or relationship with the Bank, which may affect
 Board of Commissioners.      and implementing corporate governance, and be able to         the ability of the person concerned to act independently
                              carry out sound and objective decision-making.                as stipulated in the Implementation of Good Corporate
                                                                                            Governance for Commercial Banks and has signed a Statement
                                                                                            of Independence.
                                                                                            The Board of Commissioners has committees under them that
 Principle 3 Structure and    The Board of Commissioners must establish appropriate
                                                                                            assist with the implementation of their duties, namely the Audit
 mechanism of the Board       governance structures and practices in carrying out their
                                                                                            committee, Risk Monitoring Committee, and the Remuneration
 of Commissioners             duties and periodically review their effectiveness.
                                                                                            and Nomination Committee.
                              Under the direction and supervision of the Board of
                                                                                            The Board of Directors manages the Company under the
                              Commissioners, the Board of Directors can manage the
                                                                                            direction and supervision of the Board of Commissioners
 Principle 4 Directors.       Bank’s activities by the business strategy, risk appetite,
                                                                                            well. This is shown in the increasing Company’s business
                              remuneration policies, and other policies that have been
                                                                                            achievements compared to the previous year.
                              approved by the Board of Commissioners.
                              Within a business group, the Board of Commissioners
                                                                                            The Board of Directors and the Board of Commissioners of the
                              of the parent company has overall responsibility for the
                                                                                            Company have knowledge and understanding of the main
                              business group and for ensuring the establishment and
 Principle 5 Business                                                                       businesses and main risks of the Company, as evidenced
                              implementation of clean governance practices related to
 Group Governance                                                                           by the passage of the Fit and Proper Test for all the Board
                              the structure, business, and risks of business groups and
 Structure.                                                                                 of Commissioners and Directors. The Board of Directors and
                              entities. The Board of Commissioners and Directors must
                                                                                            Board of Commissioners also regularly participate in training
                              understand the organizational structure of the business
                                                                                            and development to improve their capabilities.
                              groups and the risks they face
                                                                                            The Company runs the Process of Identification, Measurement,
                                                                                            Monitoring, Risk Control, and Risk Management Information
                                                                                            Systems through the Enterprise Risk Management (ERM)
                              Banks must have a quality risk management function, be
 Principle 6 Risk                                                                           framework. The Company always improves the capabilities
                              independent, have quality resources and have access to
 Management Function                                                                        and knowledge of all employees, especially in terms of risk
                              the Board of Commissioners.
                                                                                            management. The Company communicates risk management
                                                                                            to the Board of Commissioners through the Risk Monitoring
                                                                                            Committee
                              Risks in all kinds of bank activities must be identified,     The Company has carried out risk identification, measurement,
 Principle 7 Identification   monitored, and controlled. The quality of the risk            and assessment by compiling risk profiles regularly. Risk
 of Risk Monitoring and       management and internal control infrastructure must be        measurement and assessment have been able to run properly by
 Control.                     able to keep up with changes in the Bank’s risk profile,      the established Risk Management Policy, which is adjusted to the
                              external risk conditions, and industry practices              level of risk faced by Bank BTN
                              Effective implementation of risk governance requires          The Risk-Based Bank Rating (RBBR) assessment every semester
 Principle 8 Risk             accurate risk communication within the Bank both between      is submitted to the Risk Management Committee. In addition,
 Communication.               organizations and through reporting to the Board of           the results of the RBBR assessment are submitted to the Board of
                              Commissioners and Directors                                   Commissioners through the Risk Monitoring Committee.
                              The Board of Commissioners is responsible for overseeing      The Board of Commissioners ensures the implementation of
                              management related to the Bank’s compliance risk. The         good corporate governance in every business activity and
                              Board of Commissioners must establish a compliance            corporate governance policy, including the implementation of
 Prinsip 9 Obedience
                              function and provide approval for policies and processes      compliance. Compliance risk assessment in RBBR is reported
                              for identifying, assessing, monitoring and reporting, and     to the Board of Commissioners every 6 (six) months to be
                              providing advice on compliance risks.                         reviewed and given feedback.




                                                                                      PT Bank Tabungan Negara (Persero) Tbk                               693
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         Principle                                 Description                                             Implementation in Bank BTN

                           The internal audit function must report independent
                           assurance activities to the Board of Commissioners and         Internal Audit is directly responsible to the President Director
 Principle 10 Internal
                           must support the Board of Commissioners and Directors          and communicates with the Board of Commissioners through
 Auditing
                           in encouraging the implementation of an effective              the Audit Committee.
                           governance process and the long-term health of the Bank.
                           The Bank’s remuneration structure must support the             The Company’s current remuneration policy is by OJK Regulation
 Principle 11
                           implementation of corporate governance and risk                Number 45/POJK.03/2015 concerning the Implementation of
 Compensation.
                           management                                                     Governance in Providing Remuneration for Commercial Banks.
                                                                                          The company discloses through the Bank BTN website www.
                           The implementation of governance by the Bank must be           btn.co.id and ensures the availability of the most updated
 Principle 12 Disclosure
                           carried out transparently to shareholders, depositors, other   information for stakeholders. In addition, Bank BTN’s disclosure
 and Transparency.
                           relevant stakeholders, and market participants.                of the information is carried out through Annual Reports,
                                                                                          Sustainability Reports, and Public Exposes.




Good Corporate
Governance Assessment

The Company always attempts to apply the highest standard                      4.  Conflict of interest handling.
of corporate governance concerning international regulations                   5.  Implementation of the compliance function.
and standards based on the principles of corporate governance                  6.  Implementation of the internal audit function.
developed by the Organization for Economic Cooperation                         7.  Implementation of the external audit function.
and Development (OECD), the ASEAN Corporate Governance                         8.  Implementation of risk management including the internal
Scorecard (ACGS) issued by ASEAN Capital Market                                    control system.
Forum (ACMF), Indonesian GCG Guidelines developed                              9. Provision of funds to related parties and large exposure.
by the National Committee on Governance Policy (KNKG),                         10. Transparency of the Bank’s financial and non-financial
Indonesian Banking GCG Guidelines developed by the KNKG                            conditions, reports on the implementation of corporate
and Principles for Enhancing Corporate Governance issued                           governance, and internal reporting.
by the Basel Committee on Banking Supervision, where the                       11. The Bank’s strategic plan.
company has conducted governance assessment as follows:
                                                                               The Party Conducting The Assessment

Self Assessment                                                                The Company carries out a governance self-assessment by
                                                                               involving the entire Board of Commissioners, Directors, and work
Governance Self-Assessments are carried out periodically                       units related to the intended governance assessment factors.
at the end of June and December each year. For 2023, the
standards for implementing Governance, apart from referring                    Assessment Results
to OJK Regulation Number 17 of 2023 concerning the
Implementation of Governance for Commercial Banks, will                        In the Corporate Governance assessment conducted in 2023,
also begin to follow the provisions of OJK Circular Letter                     the results of the Corporate Governance Self-Assessment are
Number 13/POJK.03/2017 concerning the Implementation                           as follows:
of Governance for Commercial Banks..

                                                                                          Result of Self-Assessment Regarding The
Assessment Criteria                                                                           Implementation of Governance

The indicators that become the standard for the implementation                                   Rating                 Definition of Rating
of the self-assessment include 11 (eleven) parameters. They are:
                                                                                                             The Bank’s management has implemented
1. Implementation of the duties and responsibilities of the Board                                            Good Corporate Governance well in
     of Directors.                                                                                           general, which was reflected in the adequate
2. Implementation of duties and responsibilities of the Board of                                             fulfillment of Governance principles. In the
                                                                                 Individual         2        event that there were weaknesses in the
     Commissioners.                                                                                          application of Governance principles, these
3. Completeness and implementation of the duties of the                                                      weaknesses were in general not significant
     Committee.                                                                                              and could be resolved by Bank’s Standard
                                                                                                             Operating Procedures.




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Result of Corporate Governance Self-Assessment in December 2023



                            Result of Self-Assessment Regarding The Implementation of Governance

                                        Rating                                                      Definition of Rating
                                                             he Bank’s management has implemented Good Corporate Governance well in general, which
                                                             was reflected in the adequate fulfillment of Governance principles. In the event that there were
 Individual                                 2
                                                             weaknesses in the application of Governance principles, these weaknesses were in general not
                                                             significant and could be resolved by Bank’s Standard Operating Procedures.



From the results of the two assessments, the implementation of Corporate Governance in 2023 can be summarized as follows:


Bank’s Name :          PT BANK TABUNGAN NEGARA (PERSERO) Tbk
Position    :          JANUARY-DECEMBER 2023

                           Result Of Self-Assessment (Regarding The Implementation Of Governance)

                                        Rating                                                      Definition of Rating
                                                             The Bank’s management has implemented Good Corporate Governance well in general, which
                                                             was reflected in the adequate fulfillment of Governance principles. In the event that there were
 Individual                                 2
                                                             weaknesses in the application of Governance principles, these weaknesses were in general not
                                                             significant and could be resolved by Bank’s Standard Operating Procedures.



                                                                            ANALYSIS

 In general, the implementation of Corporate Governance is good. The Bank’s management has implemented Governance principles and has prepared a
 Governance Structure that supports the implementation of governance, such as organizational structure, competent human capital, and policies as well as
 procedures that support the implementation of the Bank’s activities. In addition, the Bank’s management’s efforts to make improvements have been carried out
 from time to time to ensure that the implementation of governance is in line with the Bank’s business development. Improvements were made by taking into
 account input from the Board of Commissioners based on the results of monitoring/review/recommendations from the Committees that support the duties and
 responsibilities of the Board of Commissioners..
 During the reporting period, no violations of the precautionary principle were found in fulfilling CAR, Core Capital, NOP, and NPL and no exceedances and/or
 violations of LLL occurred. The Bank’s commitments related to the audits by the Financial Services Authority (FSA) and the Audit Board of the Republic of Indonesia
 (BPK) have been followed up under agreed deadlines.
 Objectives:
 a. The assessment of governance structure aims to determine the adequacy of the Bank’s Governance structure and infrastructure to ensure that the
    implementation of Good Governance produces an outcome that is in line with the expectations of the Bank’s Stakeholders. The Governance Structure
    consists of the Board of Directors, Commissioners, Committees, and Work Units at the Bank. The Governance Infrastructure consists of bank policies and
    procedures, management information systems as well as main duties and functions of each organizational structure.
 b. The assessment of the governance process aims to determine the effectiveness of the implementation of governance principles supported by the adequacy
    of the Bank’s governance structure and infrastructure, to produce outcomes that are in line with the expectations of all the stakeholders.
 c. The assessment of governance outcomes aims to determine the quality of outcomes that meet the expectations of all the stakeholders, which results from the
    implementation of good governance principles and is supported by the adequacy of the governance structure and infrastructure.
 Outcomes consist of qualitative and quantitative aspects as follows:
 a. Adequacy of report transparency.
 b. Compliance with laws and regulations.
 c. Customer protection.
 d. Objectivity in conducting assessments or audits.
 e. Bank’s performances, such as profitability, efficiency and capital and/or
 f. Increase/decrease in compliance with applicable regulations, violations of LLL, and violations of provisions related to Bank reports to the Financial Services
     Authority (OJK).
 Based on the Governance Self-Assessment Analysis consisting of Governance Structure, Governance Process, and Governance Outcome on each of the
 Governance assessment factors, it can be concluded that::
 A. Governance Structure
     In general, the Company’s Governance Structure is adequate, as explained in the summary as follows:
     1. Positive Factors
          1.1 The Annual General Meeting of Shareholders (AGM), held on March 16, 2023, granted full settlement and discharge (volledig acquit at de
              charge) to the Board of Directors for the management actions of the Company and to the Board of Commissioners for overseeing the Company's
              actions during the 2022 Fiscal Year.
          1.2 Based on the AGM for the 2022 fiscal year held on March 16, 2023, the composition of the Board of Commissioners was determined to be 9
              (nine) members and the Board of Directors to be 10 (ten) members.
          1.3 As of December 31, 2023, all members of the Board of Directors have been declared fit and proper by the Financial Services Authority (OJK)
          1.4 In fulfilling their duties and responsibilities, the Board of Directors demonstrates integrity, competence, and extensive knowledge.
          1.5 All members of the Board of Directors do not hold concurrent positions as Commissioners, Directors, or Executive Officers in other banks,
              companies, and/or institutions.




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                                                                   Governance




                                                                         ANALYSIS

        1.6 All members of the Board of Directors do not have familial relationships up to the second degree with other members of the Board of Directors
            and/or members of the Board of Commissioners or Controlling Shareholders.
        1.7 The Board of Directors has established an ESG Committee responsible for mapping and formulating policies/strategies for ESG and TJSL
            programs. It also monitors and evaluates the implementation of ESG and TJSL Programs in accordance with Special Policy Number KK.9-D dated
            March 30, 2023, on the Procedures for the Governance of the Board of Directors' Committee, updated on December 21, 2023.
        1.8 The composition of the Board of Commissioners as of December 31, 2023, consisted of 8 (eight) members, with 4 (four) of them serving
            as Independent Commissioners, accounting for 50% (fifty percent) of the total members of the Board of Commissioners, in compliance with
            regulations.
        1.9 As of December 31, 2023, all members of the Board of Commissioners have passed the fit and proper test conducted by the Financial Services
            Authority (OJK).
        1.10 All members of the Board of Commissioners do not hold concurrent positions as stipulated by Regulations issued by Regulators (OJK, BI,
             Ministerial Regulations, and other relevant laws).
        1.11 All Independent Commissioners do not have financial or managerial relationships with the Directors and/or Controlling Shareholders.
        1.12 Bank BTN already has the Audit Committee, the Risk Management Committee, and the Remuneration and Nomination Committee in accordance
             with the regulation based on:
            1.12.1 a letter by the Board of Commissioners Number 25/KOM/BTN/III/2022 dated March 17, 2022, concerning the Submission of
                       Decisions of the Board of Commissioners of PT Bank Tabungan Negara (Persero) Tbk;
            1.12.2 a letter by the Board of Directors Number 26/KOM/BTN/III/2022 dated March 17, 2022, concerning the Submission of Composition
                       of Committee Members of Supporting Organs of the Board of Commissioners of PT Bank Tabungan Negara (Persero) Tbk;
            1.12.3 a letter by the Board of Commissioners Number 111/KOM/BTN/III/2022 dated November 16, 2022, concerning the Submission of
                       Composition of Committee Members of Supporting Organs of the Board of Commissioners of PT Bank Tabungan Negara (Persero) Tbk.
            1.12.4 Letter of the Board of Commissioners No. 13/KOM/BTN/I/2023 dated January 18, 2023, regarding the Announcement of the
                       Decision of the Board of Commissioners of PT Bank Tabungan Negara (Persero) Tbk;
            1.12.5 Letter of the Board of Commissioners No. 14/KOM/BTN/I/2023 dated January 18, 2023, regarding the Announcement of the
                       Composition of Members of the Supporting Committee of the Board of Commissioners of PT Bank Tabungan Negara (Persero) Tbk;
            1.12.6 Letter of the Board of Commissioners No. 47/KOM/BTN/III/2023 dated March 8, 2023, regarding the Termination of the Term and
                       Appointment of Members of the Audit Committee of PT Bank Tabungan Negara (Persero) Tbk;
            1.12.7 Letter of the Board of Commissioners No. 55/KOM/BTN/III/2023 dated March 21, 2023, regarding the Announcement of the
                       Decision of the Board of Commissioners of PT Bank Tabungan Negara (Persero) Tbk;
            1.12.8 Letter of the Board of Commissioners No. 56/KOM/BTN/III/2023 dated March 21, 2023, regarding the Announcement of
                       the Composition of the Membership of the Supporting Committee of the Board of Commissioners of PT Bank Tabungan Negara
                       (Persero) Tbk.
            1.12.9 Letter of the Board of Commissioners No. 101/KOM/BTN/VIII/2023 dated August 14, 2023, regarding the Announcement of
                       the Decision of the Board of Commissioners of PT Bank Tabungan Negara (Persero) Tbk;
            1.12.10 Letter of the Board of Commissioners No. 102/KOM/BTN/VIII/2023 dated August 14, 2023, regarding the Announcement of
                       the Composition of the Membership of the Supporting Committee of the Board of Commissioners of PT Bank Tabungan Negara
                       (Persero) Tbk;
        1.13 Bank BTN has policies, systems and procedures for handling conflicts of interest that are applied to every business and operational activity
             contained in Special Policy Number KK.6-H dated October 10, 2023 concerning Procedures for Handling Conflicts of Interest.).
        1.14 Bank BTN has a Compliance Work Unit that is independent or separate from the Operational Work Unit (risk-taking unit).
        1.15 The Director overseeing the Compliance Function has met the independence requirements and does not concurrently serve as the President
             Director/the Vice President, the Director overseeing the business and operational, risk management, treasury, financial and accounting, logistics,
             and procurement of goods/services, information technology, internal audit, as well as the Director in charge of the Compliance Function has
             received approval from the FSA for the fit and proper test.
        1.16 Bank BTN has an Internal Audit Work Unit called the Internal Audit Division (IAD) which directly serves the President Director and directly
             communicates to the Board of Commissioners or the Audit Committee.
        1.17 Bank BTN has compiled and regularly reviewed the Internal Audit Charters, the organizational structure of the Internal Audit Work Unit as well
             as its duties and functions.
        1.18 The Public Accounting Firm has been appointed for the 2023 financial statements and has met the stipulated criteria.
        1.19 Bank BTN has a Risk Management Work Unit, namely the Enterprise Risk Management Division (ERMD).
        1.20 The Bank has policies on the provision of funds, including monitoring tools and resolution steps as well as has conducted policy evaluation
             regularly. Policy evaluation was carried out by related divisions by involving and coordinating with other divisions, including Compliance &
             Governance Division (CMGD), Enterprise Risk Management Division (ERMD), and Legal Division (LGD) through the Policy and Procedure
             Division (PPD) which were then proposed to the Credit Policy Committee through the Board of Directors.
        1.21 The Bank has policies and procedures regarding the procedures for implementing the transparency of financial and non-financial conditions
             consisting of internal and external regulations (regulators).
        1.22 The Bank has prepared a strategic plan in the form of a Corporate Plan and a Business Plan that is in line with the Company’s vision and mission.
        1.23 The Board of Directors has established 5 Key Focuses & 10 Strategic Initiatives.
     2. Negative Factors
        None.
     3. Identification of Problems and Root Causes (Root Cause)
        None.
     4. Strength
        4.1 The Board of Commissioners and the Board of Directors of Bank BTN are committed to meeting and improving the Governance structure and
            infrastructure so that they always comply with the provisions of regulators, and supervisors and keep abreast of the dynamics of business needs.

          4.2 The implementation of good governance in Bank BTN is supported by an independent structure of Internal Audit, Risk Management, and
              Compliance Work Units.
B.   Governance Process
     In general, the Company’s Governance Process is adequate, as explained in the summary as follows:
     1. Positive Factors
          1.1 The Board of Directors has established strategic policies and decisions through effective and efficient Board Meetings that are communicated to
              all employees through various media such as Digital Room for E-Learning Modules (DREAMS), Legal Application Systems (LAPS), and others.




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                                                                 ANALYSIS
1.2 The Board of Directors has conducted performance reviews with all Divisions & Regional Offices regularly, and the Board of Commissioners has
    conducted performance reviews with the Board of Directors every month.
1.3 The Board of Directors has followed up on findings and recommendations from the Internal Audit Division, External Auditors, the FSA, and/ or
    other authorities’ supervision results.
1.4 In carrying out the duties and responsibilities of the Board of Directors, during the period of January to December 2023, the Board of Directors
    conducted internal meetings a total of 255 (two hundred fifty-five) times.
1.5 The committees under the Board of Directors held meetings during the period of January to December 2023, amounting to 333 (three hundred
    thirty-three) meetings. The breakdown is as follows:
    a. Asset-Liability Committee: 14 meetings.
    b. Information Technology Steering Committee: 4 meetings..
    c. Risk Management Committee: 16 meetings.
    d. Human Capital Committee: 19 meetings.
    e. Credit Policy or Financing Committee: 9 meetings.
    f. Credit Committee: 240 meetings.
    g. Business Committee: 6 meetings.
    h. Transformation Steering Committee: 25 meetings
1.6 The Board of Commissioners is always committed to implementing the principles of Corporate Governance in each line of business.
1.7 In carrying out the duties and responsibilities of the Board of Commissioners, during the period of January to December 2023, the Board of
    Commissioners conducted internal meetings a total of 52 (fifty-two) times and joint meetings with the Board of Directors 6 (six) times.
1.8 The Committee always performs its duties independently through regular meetings with Divisions or Work Units to discuss the issues and
    operational conditions of Bank BTN.
1.9 Each Committee has carried out its functions in accordance with regulations, including providing recommendations as per their responsibilities to
    the Board of Commissioners. During the period of January to December 2023, the committees under the Board of Commissioners held meetings
    as follows:
    a. Audit Committee: 35 meetings.
    b. Risk Monitoring Committee: 52 meetings.
    c. Remuneration and Nomination Committee: 23 meetings.
          1.10 Bank BTN has implemented a credit processing application (iLoan) which includes aspects of Bank Related Parties with the aim of
                  ensuring the credit process is free from conflicts of interest and is carried out in accordance with applicable regulations and has been
                  communicated to the Board of Commissioners and Directors..
          1.11 Increasing the implementation of Corporate Culture, namely: Sales Culture, Performance Culture, Governance & Risk Culture and
                  Learning Culture.
          1.12 Bank BTN has submitted a report on the implementation of the duties of the Director in charge of the Compliance Function to the
                  regulator in a timely manner.
          1.13 To ensure the compliance of every regulation to be enacted, the Compliance Unit conducts reviews to ensure that such regulations
                  align with the requirements set by regulators and legislation. During the period of January to December 2023, the Compliance Unit
                  conducted reviews with the following details:
    a. Operational Area: 231 reviews.
    b. Credit Area: 102 reviews.
    c. Fund Area: 34 reviews.
1.14 In efforts to prevent early-stage corruption practices, Bank BTN implemented the ISO 37001:2016 Anti-Bribery Management System (SMAP). In
     2023, Bank BTN underwent re-certification and surveillance audits for ISO in 10 Work Units, and expanded the scope of ISO ABMS to 5 work
     units (SMBD and 4 CBC).
1.15 In the pursuit of enhancing a culture of compliance, Bank BTN implemented the ISO 37301:2021 Compliance Management System (CMS). The
     Bank successfully obtained ISO CMS certification on January 23, 2023, and conducted surveillance in November 2023.
1.16 In 2023, the Internal Audit Division conducted a reassessment of the implementation of the bank's internal audit function by an independent
     party, as regulated by POJK 01 2019, and obtained a "Generally Conform" result.
1.17 The implementation of Bank BTN’s Whistleblowing System has utilized the services of a third party, Deloitte Consultant, called WBS BTN SIIPS,
     and Bank BTN has collaborated with the Corruption Eradication Commission (KPK) regarding the Integrated Whistleblowing System (WBS) for
     Corruption Crime (TPK).
1.18 Internal Audit functions have been implemented adequately and have met the expectations of the stakeholders, which is reflected in the reports
     submitted by the Internal Audit Division to the Board of Commissioners through the Audit Committee regularly (every quarter), namely the
     realization of the Annual Audit Plan, the audit findings and recommendations, and the completion of the follow-up on the audit results.
1.19 The appointment of Public Accounting Firms (KAP) is in accordance with the minimum requirements set in accordance with the provisions
     and the audit is carried out by independent Public Accountants (AP) and the recommendations of the Audit Committee through the Board of
     Commissioners.
1.20 The Bank has monitored Risk Appetite and Risk Tolerance every month including the analysis of exceedances and impacts as well as
     recommendations based on the results of analysis submitted regularly to the Board of Directors and all Divisions..
1.21 The Board of Directors and Commissioners actively supervise risk management by discussing risk limits (risk appetite and risk tolerance) every
     month through the Board of Commissioners and Directors meetings.
1.22 Implemented business process improvements include:
    a. The Bank has separated the CRSD Division into CRSD 1 and CRSD 2 to manage Early Bucket and Late Bucket separately, ensuring the quality
          of the Bank's credit portfolio.
    b. The establishment of the Personal Banking Division (PBD) to support the achievement of high-yield loans.
    c. Formation of the Human Capital Business Partner (HCBP), serving as an effective business partner to drive and ensure alignment between
          Human Capital strategies and operations to meet business needs and support corporate strategies.
    d. Establishment of the Environmental, Social & Governance (ESG Department) to support the implementation of sustainable financial principles
          (SDGs).
    e. The Bank has formed RLPC-BC (Regional Loan Processing Center-Business Control), CBC-BC (Commercial Banking Center-Business Control),
          and RBC (Regional Business Control) under the supervision of Regional Offices and coordination with the Risk Management Unit. These units
          function to enhance supervision and mitigate Operational Risks at branch and regional offices.
    f. Development of the Operational Risk Management Information System (ORMIS) comprising RCSA, LED, and KRI in each operational unit has
          been implemented in all Regional Offices and Branch Offices.
    g. Implementation of Consumer Credit BPI Phase 2, covering automatic disbursement processes and stock management.




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                                                                             ANALYSIS

               h.   Implementation of Digitalization & Automation Project (BPI Consumer Project: Decision Engine).
               i.   Centralization of operational processes to Regional Offices and the Head Office, including centralizing procurement and vendor management,
                    accounting and reporting processes, and cash management through the implementation of Regional Cash Operation Management.
              j. Optimization of unproductive KCP through service substitution to Digital Channels by closing unproductive outlets/KCP.
              k. Implementation of the Sales Center responsible for managing Non-Subsidized Home Loans (KPR) for the Emerging Affluent segment.
              l.    Formation of BTN's SME Credit Center tasked with disbursing Micro Credit products, including KUR and SME Credit up to IDR500 million.
              m. Strengthening the BTN organization through the implementation of Strategic Business Units (SBU).
          1.23 Strengthening process discipline and tiered controls at every stage of the credit business process, in line with the high increase in low-quality
                loans, and the credit granting process is carried out comprehensively by paying attention to the aspects of the 5Cs consistently.
          1.24 In making decisions, Bank BTN has created Credit Policy Committee and Credit Committee so that the credit process can run prudently.
          1.25 During the January-December 2023 period, there were no violations and/or exceedances of LLL.
          1.26 Bank BTN has prepared, presented, and transparently disclosed financial and non-financial conditions to stakeholders on a monthly, quarterly,
                semester, and annual basis by publishing on the official website including the quarter announcement of Financial Report Publications and
                reporting them to the Financial Services Authority or stakeholders in accordance with applicable regulations.
          1.27 Bank BTN has established a Customer Complaint System that customers can utilize through various channels, including the Contact Center,
                Customer Complaint System (SPN), Customer Service, or by reporting to Bank staff..
          1.28 Reports on the implementation of Corporate Governance have been submitted in a complete and timely manner to the Financial Services
                Authority or stakeholders in accordance with applicable regulations.
          1.29 The Board of Directors has communicated the Bank’s Corporate Plan and Business Plan to all levels of the organization and Controlling
                Shareholders..
          1.30 The Board of Commissioners has performed its supervisory functions and duties (monitoring), namely directing, monitoring, and evaluating the
                implementation of the Bank’s strategic policies regularly every month in the Performance Review meeting between the Board of Directors and the
                Board of Commissioners.
          1.31 The Board of Directors regularly discusses policies and decisions regarding strategic plans through committee meetings preceded by
                precommittee/steering committee meetings..
          1.32 To support the vision to become Best Mortgage Bank in Southeast Asia, Bank BTN is reinforcing its organizational capacity and systems by
                strengthening the role of leaders. Bank BTN has prepared leaders to help execute the Company’s 5 (five) focuses in 2021-2025 by establishing
                a performance culture, conducting monitoring that increases team engagement, consistently performing key behaviors, and continuously making
                improvements by implementing the 4DX execution discipline concept.
          1.33 The Bank implements 4 Disciplines of Execution (4DX) on a national scale (bankwide) with the goal of fostering a performance-oriented culture
                that delivers superior results. Generally, the implementation is divided into three stages: Leadership Emphasize Stage, Setting Up Stage, and
                Implementation Stage.
     2. Negative Factors
     In general, Internal Control is adequate but still not running optimally resulting in cases of fraud.
     3. Identification of Problems and Root Causes
     Overall, the Governance Process is well implemented in every business and operational activity of the Bank, but still requires an understanding of the
     Standard Operating Procedure (SOP) and increased supervision.
     4.   Strength
          4.1 The implementation of Corporate Culture is improved to support Bank BTN based on AKHLAK core values, namely: Sales & Service Culture,
              Governance & Risk Culture, and Performance Culture and Learning Culture.
          4.2 The Bank continues to strive to improve internal control through training/internalization, sanctions for coaching, implementation of rotation, and
              HC mutations.
          4.3 In making decisions, Bank BTN has created Credit Policy Committee and Credit Committee so that the credit process can run prudently.
          4.4 To implement gratification and bribery control, Bank BTN already has a Gratification Control Unit (UPG) and ISO 37001:2016 Anti-Bribery
              Management System certification under the supervision and management of the Compliance Division.
C.   Governance Outcome
     In general, the Company’s Governance Outcomes are adequate, as explained in the summary as follows:
     1.   Positive Factors
          1.1 The Board of Commissioners and the Board of Directors had accounted for the execution of their duties to the shareholders and have been
              acknowledged by the shareholders in the Annual General Meeting for the 2022 Fiscal Year held on March 16, 2023.
          1.2 The Bank has enhanced its performance to achieve the 2023-2025 RBB targets through the adoption of an effective business strategy.
          1.3 The Financial Statements as of December 31, 2023 (Unaudited) show improvement compared to the previous year, with details as follows: (in
              billion)

                                                                                                                         As of December 2023
                    No                 Performance                               As of December 2022
                                                                                                                               (Unaudited)

                1        Asset                                                             402,148                                  439,885

                2        Profit                                                               3,045                                    3,419

                3        DPK                                                               321,624                                  349,933

                4        Credit/Financing                                                  298,282                                  333,698

                5        Credit Quality                                                      3,38%                                     3,01%
          1.4 Indicators of Compliance as of December 2023
              1.4.1 The Capital Adequacy Ratio (CAR) formed by the Bank, taking into account credit risk, operational risk, and market risk as of December
                     31, 2023, is 20.14%. Meanwhile, the Minimum Capital Adequacy Requirement (KPMM) ratio, based on the risk profile that the Bank is
                     required to form as of December 31, 2023, is 9.18%. Thus, Bank BTN's capital adequacy ratio remains above the minimum threshold
                     required by the regulator under capital adequacy provisions.




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                                                                          ANALYSIS

               1.4.2     There have been no breaches or violations of the Maximum Credit Limit (BMPK) provisions.
               1.4.3     The Non-Performing Loan (NPL) stands at 3.01% (gross)
               1.4.4     The Primary Conventional Rupiah Mandatory Reserve (GWM) as of December 29, 2023, is 6.0361%, meeting the minimum
                         requirement of 3%. The Foreign Currency Mandatory Reserve (GWM) as of December 29, 2023, is 4.397%, meeting the minimum
                         requirement of 4%.
2.   Negative Factors
        2.1 During the period from January to December 2023, there was a Foreign Currency Mandatory Reserve (GWM) penalty for Bank BTN amounting
            to IDR28.670.854 (twenty-eight million six hundred seventy thousand eight hundred fifty-four rupiahs).
        2.2 Throughout the period from January to December 2023, there was a penalty imposition of IDR677.520.854 (six hundred seventy-seven million
            five hundred twenty thousand eight hundred fifty-four rupiahs). There is an increase in the penalty amount from the regulator compared to the same
            period from January to December 2022, totaling IDR290.313.449 (two hundred ninety million three hundred thirteen thousand four hundred
            forty-nine rupiahs).
        2.3 There are still instances of violations resulting in fraud, where during the period from January to December 2023, the number of fraud cases was
            19. This figure is the same as the number of violations resulting in fraud during the period from January to December 2022, which was also 19
            cases.
     3.   Identification of Problems and Root Causes
          3.1 It is necessary to improve understanding of SOPs and to strengthen supervision.
          3.2 It is necessary to improve reporting systems and infrastructure.
     4.   Strength
          4.1 Bank BTN has set a long-term direction to become Best Mortgage Bank in Southeast Asia through the implementation of five long-term strategic
               focuses with the following business aspirations to be achieved by 2025:
               4.1.1      Doubling low-cost funding to Rp. 250 trillion.
               4.1.2      Encouraging housing affordability for more than 6 million Indonesian people.
               4.1.3      Building a one-stop shop financial solution for 3 million consumers and housing-related businesses.
               4.1.4      Becoming a digital innovator and home of Indonesia’s best talent
               4.1.5      Building a high-quality portfolio and maintaining a low NPL level..
          4.2 Bank BTN is guided by 10 (ten) strategic themes including:
               4.2.1      Enhancement of branch operating model to increase low-cost DPK and retail business by optimizing network footprint and building
                          end-to-end customer ownership (commercial, SME, consumer segments) such as funding, lending, fee-based and other services.
               4.2.2      Partnership/inorganic growth to support core business in the housing sector by capturing opportunities in multi-finance, insurance, and
                          asset management.
               4.2.3      Development of housing finance for the emerging affluent and affluent segments by enhancing the direct-to-direct proposition and
                          collaborating with leading developers and real estate agent networks.
               4.2.4      Development of a homeownership program for subsidized KPR to support the national affordable housing agenda.
               4.2.5      Expansion of the value chain in real estate targeting SME suppliers and contractors by providing supply chain financing, bank
                          guarantee, SKBDN, and business savings solutions.
               4.2.6      Development of complete financial solutions (loans, savings, transactions, and investments) targeting fixed-income customers, especially
                          for emerging affluent and SMEs, and formulation of cross-selling and upselling strategies.
               4.2.7      Development of electronic transaction channels, automation of various business processes, and expansion of cooperation with the
                          digital ecosystem, including setting up supporting IT infrastructure and operational models.
               4.2.8      Implementation of an appropriate SBU structure to create a performance-driven organization, improvement of hard and soft skills, and
                          launch of culture programs on sales and service, governance and risk management, performance, and learning.
               4.2.9      Improvement of credit business processes by centralizing credit operations (CBC, SME, consumer), increasing checks and balances,
                          and strengthening the risk framework through precise risk guidelines.
                4.2.10 Sustainability of low NPL levels across all segments through strong risk monitoring, standardization of workmanship, socially and
                          digitally enabled collection processes, and asset sale strategies.




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Recommendations and Follow Up

                                Problem                                                                     Follow-up

                                                                           a.   Appeal from the Board of Directors via memo to all Divisions, Regional
                                                                                Offices, Branch Offices/Sharia Branch Offices regarding Mitigation of
                                                                                Fines and/or Written Warnings from Regulators.
                                                                           b.   The Compliance Work Unit coordinates by remapping and updating
                                                                                reporting obligations to the Regulator as well as the person responsible
                                                                                for submitting Reports in each Division. Moving forward, the
                                                                                Compliance Work Unit also advised that all Divisions should actively
                                                                                coordinate to submit new regulatory report updates to the Compliance
                                                                                Work Unit if they are not yet included in the existing reporting list in
                                                                                the Compliance Regulatory Management System (CRMS).
                                                                           c.   Through the Compliance Regulatory Management System (CRMS),
                                                                                an email notification has been sent as a reminder before the report
                                                                                is due to all Divisions that have reporting obligations to Regulators
                                                                                and/or external parties as well as monitoring the development of
                                                                                new Bank Products (PPB) and New Activities for the Bank's Interests
                                                                                (KKB) and Activities as an Information Technology Service Provider
                                                                                and/or publishing Electronic Banking Service Products as a reminder
                                                                                of the obligation to report realization to the Regulator. Currently,
                                                                                CRMS enhancements are being carried out regarding the addition of
                                                                                notifications/reminders of reporting obligations to each Division PIC
                                                                                and Division Official via Whatsapp media in addition to email.
 During the January-December 2023 period, there was an increase in the
                                                                           d.   The Compliance Work Unit together with the Data Management Work
 number of fines from the Regulator compared to the same period in 2022.
                                                                                Unit and the Risk Management Unit have discussed the Technical
                                                                                Regulations (PT) regarding Data Governance, especially regarding
                                                                                RACI (Responsible, Accountable, consulted and Informed) Reporting
                                                                                Process Matrix to Regulators, one of which is adding data validation
                                                                                activities by the Division Data Owner (Data Owner) to ensure the
                                                                                quality and correctness of the data before it is reported by the Division
                                                                                Responsible for Reporting to the Regulator. It is hoped that this will
                                                                                have an impact on improving the reporting process to Regulators
                                                                                so that it meets the Complete, Accurate, Current and Intact (LAKU)
                                                                                principles to mitigate data errors and the occurrence of repeated
                                                                                findings by Regulators.
                                                                           e.   The Compliance Work Unit and Risk Management Work Unit carry out
                                                                                discussions and mapping with the Division regarding the segregation
                                                                                of duties regarding the reporting process to the Regulator or other
                                                                                Supervisory Authority mentioned above, namely the maker, checker
                                                                                and approval functions starting from the data owner, data provider
                                                                                and person in charge. reporting.
                                                                           f.   The Compliance Work Unit has developed a Compliance Dashboard
                                                                                to mitigate potential non-compliance by conveying confirmation and
                                                                                verification of Compliance Dashboard parameter data to the relevant
                                                                                Work Unit.




Assessment by External Parties

In addition to Self-Assessment, the Company has also consistently conducted Third Party assessments to attain a second opinion on
the quality of the GCG implementation to unceasingly refine the quality of the GCG implementation; this includes the Corporate
Governance Perception Index survey, hereinafter abbreviated as CGPI, which is organized annually by the Indonesian Institute for
Corporate Governance (IICG) and the GCG assessment is based on the ASEAN Corporate Governance Scorecard standards conducted
by the FSA and the Indonesian Institute for Corporate Directorship (IICD).




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GCG Rating - Corporate Governance                                    Party Conducting the Assessment
Perception Index (CGPI) Award
                                                                     The party that conducted the CGPI assessment is The Indonesian
The Company constantly takes part in ratings and the Corporate       Institute of Corporate Governance (IICG).
Governance Perception Index survey, hereinafter abbreviated as
CGPI, every year, which is organized by the Indonesian Institute     Rating Score
for Corporate Governance (IICG). CGPI is a research program
and rating of the quality of corporate governance with the           The Company's CGPI score in 2023 will be 90.52 with the title
following assessment stages:                                         "Most Trusted". The results of the CGPI assessment for 6 (six)
1. The instrument and Document Analysis Stage is conducted           consecutive years are as follows:
     through the following activities:
     a. Self Assessment.
                                                                                               Score CGPI
     b. Document Assessment.
2. Observation Stage                                                                                                        90.52

     The observation stage is performed through clarification of                                                  90.02
                                                                                                         89.83
     the assessment instruments and the Company’s documents’
                                                                                               89.62
     extensiveness, executive exposure, and internal discussions.
                                                                            87.97   88.62

Assessment Criteria

The assessment aspects of CGPI include Governance Structure,                2018    2019      2020       2021     2022      2023
Governance Process, and Governance Outcome).




CGPI Assessment Results 2018-2023


                                                                    Year of Implementation
        Indicator
                                2023              2022              2021             2020                2019             2018

 Governance Structure           29,98             25,18             31,83            24,30               30.91            22,73

 Governance Process             29,70             34,46             32,53            32,53               28.49            38,01

 Governance Outcome             30,84             30,38             24,47            32,79               29.22            27,23

 Skor CGPI                      90,52             90,02             89,83            89,62               88,62            87.97



In the last 5 (five) years, based on the CGPI assessment conducted by IICG, Bank BTN’s scores have always increased. This shows that
the implementation of GCG in Bank BTN improves from year to year




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Recommendations and Follow-up

There are several recommendations for improvement from the Indonesian Institute for Corporate Governance (IICG) regarding the
implementation of CGPI 2022. These recommendations become material for improvements and improvements which are followed up by
implementation in the implementation of governance in the Company.


 No                        Recommendation                                                                    Follow-up
 Governance Structure
 1    BTN needs to prepare an organizational structure design that       1.   Talent development program carried out by BTN to fulfill the shortage of
      is in accordance with the company's business plan and fulfills          employees in L1 and L2 positions
      the gaps in the formation of a functional structure which is the   2.   Bank BTN's organizational structure is in accordance with the Bank's
      responsibility of the Board of Directors.                               business strategy plan and the aspirations of the Board of Directors as well as
                                                                              the strategies outlined in the Corporate Plan, including by 2022 establishing:
                                                                              a. The IT Security Division forms a position structure for the risk and
                                                                                   compliance function
                                                                              b. Wholesale Transaction Division is the division that manages Wholesale
                                                                                   Banking.
 2    BTN needs to develop a special structure and/or function           Strengthening organs at Regional Offices including:
      that is responsible for integrating and consolidating the          a. Strengthening the control function by establishing Regional Business Control
      GRC (Governance Risk Compliance) system in the group of                 (RBC) which oversees Branch Business Control, CBC Business Control (CBC-
      companies.                                                              BC), and Regional Loan Processing Center Business Control (RLPC-BC).
                                                                         b. Coordinate and discuss the development of organizational structures and/
                                                                              or special functions responsible for integrating and consolidating the GRC
                                                                              system.
 3    BTN needs to optimize leadership development in the company        1.   The Company has implemented a succession program through the
      to ensure the availability of potential company leaders who             implementation of the Talent Acceleration Program starting in 2022 with a
      are competent, competitive, adaptive and agile in facing the            total of 80 employees for the first phase. For the next stage, Bank BTN has
      dynamics of change on an ongoing basis.                                 prepared 106 employees.
                                                                         2.   The Company already has a leadership development program which includes
                                                                              educational levels starting from ODP, SDP, MDP, SMD, VPDP and Sespi Bank.
                                                                         3.   Review and refine the Bank's career planning policies and leadership
                                                                              programs.
 4    BTN needs to periodically adjust company policies and              1.   The Company has a company plan and strategy listed in the RJP which is
      strategies so that in every dynamic change that occurs,                 included in the RBB and RKAP
      it carefully explores the challenges that arise, manages           2.   Update the Bank BTN Performance Management System (STORM) SOP
      vulnerabilities, adapts to manage changes, and takes                    Policy by preparing Special Strategic Plan and Performance Policies
      opportunities by optimizing potential so that it can achieve its   3.   Implementation of a new policy architecture which includes:
      goals based on the best achievements.                                   • Issuance of 9 General Policies as Umbrella Policies in Bank BTN Internal
                                                                                   Regulations.
                                                                              • Issuance of 66 Special Policies as derivatives of General Bank Regulatory
                                                                                   Policies.
                                                                              • Revocation of 401 old architectural regulations.
                                                                         4.   Go Live PPDigital application as a means of searching for regulations for
                                                                              employees.
 Governance Process
 1    BTN needs to optimize all resources to build company resilience    1.   BTN Company has implemented a talent mobility program as a program to
      through a program to strengthen company fundamentals and                place the Bank's best talent in affiliated companies. Currently there are 4
      resilience that is integrated with the company group.                   people who have been included in the program.
                                                                         2.   Bank BTN's turnover rate during the pandemic has decreased, where in
                                                                              2020 the turnover ratio reached 2.23%, this figure decreased to 1.18% in
                                                                              2021. Several retention programs implemented by the Bank include:
                                                                              -   Guarantee of health facilities during the pandemic provided by the
                                                                                  Bank.
                                                                              -   There is no reduction in remuneration by the Bank.
 2    BTN can consider implementing ISO 37000:2021 guidelines            Conduct a review and study of ISO 37000:2021 concerning Organizational
      on Organizational Governance.                                      Governance, especially on:
                                                                         1) Aspects that must be prepared.
                                                                         2) The stages that must be carried out.
                                                                         3) Potential and opportunities for implementation in 2023.




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No                         Recommendation                                                                       Follow-up

3    BTN needs to optimize data governance to support data                 1.   The Company refers to internal provisions number KK.9-M dated 28 February
     security and provide sustainable added value for the company.              2023 concerning Data Governance which refers to the DAMA-DMBOK
                                                                                approach.
                                                                           2.   The Company carries out initiatives regarding governance management.
                                                                                data in 2023 as follows:
                                                                                a. Corporate Plan
                                                                                    -    Enterprise Data Warehouse (EDW) Development
                                                                                    -    Development of Master Data Management (MDM)
                                                                                b. Non-Corporate Plan
                                                                                    -    Data Platform Development
                                                                                    -    Development of data visualization
                                                                                    - Developing models for customer lifecycle
                                                                                    -    Implement data protection strategies, especially controlling data
                                                                                         access or data requests.
                                                                           3.   The IT Security Division has implemented a data security strategy through
                                                                                People, Process and Technology aspects which include, among others:
                                                                                a. Carrying out IT Security Awareness which is carried out every month.
                                                                                b. Special Policy Update on Information Technology Security which is
                                                                                    adapted to the ISO 27001 standard concerning Information Security
                                                                                    System Management and SEOJK Number 29/SEOJK.03/2022
                                                                                    concerning Cyber Resilience and Security for Commercial Banks.
                                                                                c. Implementation of Data Loss Prevention (DLP) technology which aims
                                                                                    to protect or limit data with internal restricted confidential classification
                                                                                    outside Bank BTN such as Personally Identifiable Information (PII) and
                                                                                    Personal Card Information (PCI) data.
4    BTN needs to optimize the application of the ESG                      5.   Implementation of the ESG concept in all Bank business lines through the
     (Environmental, Social and Governance) concept which is                    preparation of the BTN 2023-2028 ESG roadmap and framework.
     integrated across all business lines and evaluated so as to           6.   Establish an ESG rating as a KPI for the Board of Directors in 2023.
     provide sustainable added value.                                      7.   Carry out ratings and improvements to the Bank's ESG implementation
                                                                                through collaboration with ESG rating agencies.
5    BTN needs to optimize the implementation of risk management           Conduct further ICoFR implementation studies with related divisions.
     and internal control in financial reporting, including through
     the implementation of ICoFR (Internal Control Over Financial
     Reporting) which is tailored to the company's goals, objectives
     and strategies.
6    BTN can optimize the system and mechanism for reporting               The Company has implemented WBS independently, namely WBS management
     and violations (whistle blowing system/ WBS) by considering           is carried out by a third party.
     adopting or implementing the ISO 37002:2021 standard
     concerning the Whistle Blowing Management System.
7    BTN needs to continuously optimize the knowledge management
     system and mechanisms for all knowledge, expertise and
     lessons learned in facing challenges and dynamics of change
     so that they are effective and support the Company's resilience
     by implementing the ISO 30401:2018 standard concerning
     Knowledge Management Systems. System).
Governance Outcome
1    BTN needs to foster a resilient culture with the ability to quickly   a.   The 2022 Innovation Awards have been carried out with the theme Expand
     adapt and respond to changes and manage challenges so                      to New Business Areas which is in line with the Company's steps to respond
     that they can become opportunities to compete.                             to business changes (transformation). The results of the Innovation Awards are
                                                                                coordinated with IT to be implemented.
                                                                           b.   The Company has an AKHLAK culture program, one of which is the Adaptive
                                                                                core value which is implemented through holding annual Innovation Awards
                                                                                activities with a theme focus in accordance with the corporate plan.
                                                                           c.   The 2023 Innovation Awards will be implemented in accordance with the 14
                                                                                management focus themes for 2023.
                                                                           d.   Organizational transformation is carried out in accordance with the
                                                                                company's business plan which includes centralized accounting, centralized
                                                                                procurement, centralized operations and branch transformation.
                                                                           e.   In 2023, Bank BTN also plans to centralize SME by clustering risk functions
                                                                                to support SME business.
2    BTN needs to reassess to see performance achievements                 The last KPKU Implementation Assessment was carried out in 2019 based on the
     based on the Baldrige Excellence Framework criteria.                  Letter of the Ministry of BUMN No.S-198/D7.MBU/10/2017 dated 07 October
                                                                           2017. For the implementation of the KPKU Implementation Assessment next year
                                                                           there has been no direction from the Ministry of BUMN.




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 No                       Recommendation                                                                Follow-up

 3    BTN needs to optimize the implementation of policies,          a.   The Company already has General Policy No. KU.5 concerning Information
      strategies and programs to increase the company's digital           Technology, Data Management and Digital which is effective as of December
      capabilities that can support efficient business development        23, 2022.
      and sustainable business growth, as well as making the         b.   Bank BTN has prepared the 2021-2025 RSTI where in 2023 several
      company a major part of the digital financial institution           applications will be developed such as digital development of New
      ecosystem.                                                          Conventional and Sharia Mobile Banking, Consumer and Business Internet
                                                                          Banking, BTN Properti, and development of POS/EDC and SmartKiosk
                                                                          features.
 4    BTN needs to optimize the implementation of a comprehensive    a.   Conduct risk maturity assessments to determine the level of risk management
      risk culture so that it can become a strong foundation for          and understanding.
      optimizing potential and achieving better performance and      b.   Carrying out internalization of the Operational Risk Management Information
      sustainable business growth.                                        System (ORMIS) system consisting of (RCSA, LED, KRI) in each work unit
                                                                          which has now begun to be carried out at Regional Offices and Branch
                                                                          Offices in the Region.
                                                                     c.   Optimizing the change agent function in business units, Regional Offices and
                                                                          Branch Offices.




GCG Assessment Based on ASEAN                                                Score Ratings
Corporate Governance Scorecard (ACGS)
                                                                             As the assessment of 100 listed companies using the ACGS
Another GCG assessment that the Company participates in is                   criteria was carried out by the representatives of CG Expert
the ASEAN Corporate Governance Scorecard, a standard for                     and DRB Indonesia (PT.RSM Indonesia) in 2022 with the results
measuring Governance practices agreed upon by the ASEAN                      announced on December 1, 2022, Bank BTN won awards in 2
Capital Market Forum (ACMF). The ACGS is an initiative of                    categories, namely “Top 3 Indonesian PLCs” and among the 10
ASEAN countries as members of the ACMF to support corporate                  (ten) listed companies in Indonesia in the category “ASEAN Asset
governance practices to promote ASEAN as a classy asset and                  Class Thresholds”.
increase global investors’ confidence in the quality of companies
in the ASEAN region.                                                         Based on the results of the ASEAN Asset Class assessment in
                                                                             2021 for the 2020 Fiscal Year, there were 10 Indonesian Listed
Assessment Criteria                                                          Companies with a score of 97.5 and above.


The ACGS assessment has 5 aspects which are categorized into                 Based on the ACGS assessment report submitted by the Financial
the following 2 levels:                                                      Services Authority (OJK) and the Indonesian Stock Exchange
1. Level 1 consists of 5 parts as follows:                                   (BEI), the Company's total score based on ACGS parameters in
     − Part A: Rights of Shareholders                                        2021 is 111.82. This score increased from the Company's score
     − Part B: Equitable Treatment of Shareholders                           at the 2019 ACGS event held by ACMF with a score increase
     − Part C: Role of Stakeholders                                          of 1.53 points. This assessment is reviewed based on disclosure
     − Part D: Disclosure and Transparancy                                   of the Company's governance practices through information that
     − Part E: Responsibility of the Board                                   is publicly available and accessible to the general public, and
2. Level 2 consists of Bonus and Penalty.                                    includes information contained in the annual report, website,
                                                                             announcements and circulars made by the Company. The
Parties Conducting the Assessment                                            information used in the assessment is information presented in
                                                                             English with a cut-off date of 31 August 2021. Based on the
Each ASEAN country appoints representatives of the Domestic                  results of the 2021 ASEAN Asset Class assessment, the Company
Ranking Body (DRB) and Corporate Governance (CG) Experts to                  was successfully designated as a Top 3 company of Indonesian
conduct assessments based on ACGS parameters. In this regard,                PLCs and ASEAN Asset Class.
DRB and CG Experts from Indonesia are represented by PT RSM
Indonesia.




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In the last 3 (three) years, the ACGS scores are as follows:



                                                                  Score ACGS


            113
                                                                                                                   111,82
            112

            111                                                           110,29

            110

            109

            108

            107
                         105,63
            106

            105

            104

            103

            102


                                  2017                                         2019                                 2021




This shows that the implementation of GCG in Bank BTN improves from year to year.

  Level/
                     Corporate Governance Standart Criteria                        Status                          GAP
 No. Item
 Level 1
 A.1         Basic Rights of Shareholders.                                         Comply
             The right to participate in decisions regarding fundamental
 A.2                                                                               Comply
             corporate changes.
                                                                                            The Company has not disclosed the use of an
             The right to participate effectively and cast votes in the GMS
                                                                                            independent party (observer) to conduct/validate
 A.3         and the right to obtain information regarding the rules that          Comply
                                                                                            vote counting in the Annual General Meeting of
             apply at the GMS.
                                                                                            Shareholders (RUPS).
             Markets for corporate control must be permitted to function
 A.4                                                                               Comply
             efficiently and transparently
             The exercise of ownership rights by all shareholders, including
 A.5                                                                               Comply
             institutional investors, must be facilitated.


 B.1         Shares and voting rights                                              Comply

                                                                                            a.   Disclosure of profiles of candidates for the
                                                                                                 Board of Commissioners and Directors is not yet
                                                                                                 available in the GMS Invitation;
 B.2         GMS notification                                                         -
                                                                                            b.   The invitation to the GMS does not contain
                                                                                                 information regarding the External Auditor who
                                                                                                 will be appointed at the GMS;
 B.3         Prevent insider trading and personal gain abuse.                      Comply
             Related Party Transactions by the Board of Commissioners and
 B.4                                                                               Comply
             the Board of Directors.




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                                                                Governance




  Level/
                      Corporate Governance Standart Criteria                          Status                                GAP
 No. Item

             The exercise of ownership rights by all shareholders, including
B.5                                                                                   Comply
             institutional investors, must be facilitated.


             The rights of stakeholders established by law or through mutual
C.1                                                                                   Comply
             agreements must be respected.
             As the interests of stakeholders are protected by law,
C.2          stakeholders must receive effective compensation for any                 Comply
             violation of their rights.
             Mechanisms for employee participation should be permitted to
C.3                                                                                   Comply
             develop.
             Stakeholders including individual employees and their
             representative bodies should be able to freely communicate their
C.4          concerns regarding illegal or unethical practices to the Board of        Comply
             Commissioners and their rights should not be compromised for
             doing this.


D.1          Transparent Ownership Structure                                          Comply
                                                                                                   The Company has not disclosed the remuneration of
D.2          Annual Report Quality                                                      -          each member of the Board of Directors and Board of
                                                                                                   Commissioners
D.3          Disclosure of Related Party Transactions                                 Comply
             Dealings of the Board of Directors and Board of Commissioners
D.4                                                                                   Comply
             with the Company’s Shares
D.5          External Auditor and Auditor Report                                      Comply
D.6          Media Communications                                                     Comply
D.7          Timely Filing/Release of Annual/Financial Report                         Comply
D.8          The Company website                                                      Comply
D.9          Investor Relations                                                       Comply


E.1          The Board’s Duties and Responsibilities                                  Comply
                                                                                                   Members of the Nomination and Remuneration
E.2          The Board’s Structure                                                    Comply
                                                                                                   Committee are not all independent commissioners
E.3          The Board’s Process                                                      Comply
E.4          The Board’s Position                                                     Comply
E.5          The Board’s Performance                                                  Comply



Furthermore, the Company is currently preparing for the assessment under the ASEAN Corporate Governance Scorecard (ACGS) for the
year 2024, based on the new criteria and parameters outlined in ACGS 2023 (revised October 2023), covering the fiscal year 2023.


Recommendations and Follow-up

 No.                              Recommendation                                                                Follow-up

       The company publishes the voting results of all decisions at the last     The Company publishes the voting results of all decisions at the last
 1
       AGMS/EGMS one working day after the GMS is held                           AGMS/EGMS one working day after the GMS

                                                                                 The Company ensures to disclose the remuneration of each member
                                                                                 of the Board of Commissioners. Remuneration should include the
                                                                                 following:
       The company discloses the total remuneration of the Directors and
 2                                                                               1.    Cost
       Board of Commissioners.
                                                                                 2.    Allowance
                                                                                 3.    Other salaries (including allowances in kind)

                                                                                 The Company has disclosed the process and criteria for the annual
       The Company discloses the process and criteria for the annual             performance assessment of individual Directors and Commissioners,
 3
       performance assessment of individual Directors and Commissioners.         but it is not accompanied by the results of the performance assessment
                                                                                 of the Board of Commissioners and Directors.




706         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




GCG Evaluation Based on Top GRC 2023                                  GCG Evaluation Based on GRC
                                                                      & Performance Excellence
The Company participated in the TOP GRC 2023 event, an
annual corporate rating (award) organized by Top Business             The Company also participated in the GRC & Performance
Magazine in the fields of Corporate Governance, Risk                  Excellence 2023 event, an annual corporate rating (award) in the
Management, and Compliance. The purpose of TOP GRC is to              fields of Corporate Governance (GCG), Risk Management, and
encourage business improvement through the development of             Compliance. The program aims to drive business improvement
policies and the implementation of Integrated GRC. The theme          through the development and implementation of corporate
for TOP GRC 2023 is "Building Resilient Future Through ESG &          governance policies, risk management, and compliance with
GRC." In organizing the TOP GRC 2023 awards, Top Business             regulations in an integrated manner. Stages conducted include:
Magazine collaborated with the GRC Indonesia Association,             a. Implementation of interview and Q&A sessions conducted
IRMAPA (Indonesia Risk Management Professional Association),               by the Board of Commissioners, Board of Directors, and the
ICoPI (Institute Compliance Professional Indonesia), and PaGi              GRC & Performance Excellence 2023 Jury on July 6, 2023.
(Association of Professional Governance Indonesia), supported         b. On September 30, 2023, the GRC and Performance
by several GCG and Risk Management consulting firms. The                   Excellence 2023 award ceremony took place, where Bank
stages conducted include:                                                  BTN received several awards, including:
a. Implementation of interview and Q&A sessions conducted by               1) PT Bank Tabungan Negara (Persero) Tbk as The Greatest
     the Board of Commissioners, Board of Directors, and the TOP               Champions of GRC Excellence Performance 2023
     GRC 2023 Jury on July 6, 2023.                                            (Banking Industries).
b. On September 6, 2023, the TOP GRC 2023 award                            2) PT Bank Tabungan Negara (Persero) Tbk as The Best GRC
     ceremony took place, where Bank BTN received several                      For IT/Digital Transformation 2023 (Banking Industries).
     awards, including:                                                    3) Mr. Nixon L.P. Napitupulu as The Best CEO For GRC
     1) PT Bank Tabungan Negara (Persero) Tbk awarded #5                       Excellence 2023 (Banking Industries).
         Stars, signifying excellent systems, infrastructure, and          4) Mr. Eko Waluyo asi The Best Chief Compliance Officer
         implementation related to Corporate Governance (GCG),                 2023 (Banking Industries).
         Risk Management, and Compliance. The utilization of
         digital technology in the company is at an Outstanding       ASEAN CG SCORECARD DARI INDONESIAN INSTITUTE FOR
         level, greatly supporting the successful implementation of   CORPORATE DIRECTOR (IICD) 2023
         GRC and the sustainable improvement of the Company's         The ASEAN Corporate Governance Scorecard (ACGS) is
         business performance.                                        implemented to support efforts aimed at enhancing investor
     2) Mr. Nixon L.P. Napitupulu (President Director of PT Bank      confidence in the quality of companies in the ASEAN region
         Tabungan Negara (Persero) Tbk) awarded The Most              through the improvement of governance standards and practices.
         Committed GRC Leader 2023. This award is given to            ACGS is participated by entities from all ASEAN jurisdictions,
         Business Leaders or President Directors/Top Executives       including Indonesia, Malaysia, the Philippines, Singapore,
         in companies deemed to have a high commitment to             Thailand, and Vietnam. The benefits and objectives of the ASEAN
         supporting the completeness of systems and infrastructure    CG Scorecard are as follows:
         and the successful implementation of GRC in the Company.     a. The need for a reference that can be used as a guide in
     3) The Board of Commissioners of PT Bank Tabungan                     preparing an effective strategy for improving future corporate
         Negara (Persero) Tbk awarded The High Performing                  governance practices.
         Board of Commissioners on GRC 2023. This award               b. Enhancing standards and practices of corporate governance
         is given to the company's Board of Commissioners,                 for publicly listed companies in ASEAN.
         deemed to have a high commitment to supporting the           c. Boosting global investment attractiveness for well-governed
         completeness of systems and infrastructure and the                publicly listed companies in ASEAN.
         successful implementation of GRC in the Company.
                                                                      Based on the assessment conducted by the Indonesian Institute
                                                                      for Corporate Directorship (IICD), Bank BTN has successfully
                                                                      achieved the following category:
                                                                      a. TOP 50 Companies with the Largest Market Capitalization
                                                                          (BigCap PLCs) with Best Corporate Governance Practices.
                                                                      b. The Best Financial Sector 2023.




                                                                          PT Bank Tabungan Negara (Persero) Tbk                   707
Page 339
CORPORATE SOCIAL
AND ENVIRONMENTAL
RESPONSIBILITY PROGRAM


708   PT Bank Tabungan Negara (Persero) Tbk
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                                   2023 Annual Report




The Company is always committed to implementing Sustainable
Development. With this commitment, in 2023 the Company
succeeded in distributing IDR 79.99 billion, through various
activities in the CSER Program.




                     PT Bank Tabungan Negara (Persero) Tbk   709
Page 341
                                                                        Corporate Social and
                                                                        Environmental Responsibility Program




    Throughout 2023, the Company succeeded in implementing the right strategies and initiatives so that the Company managed
    to record positive and sustainable achievements. As of December 2023, the Company has succeeded in distributing CSER 2023
    funds amounting to IDR 79.99 billion, through various activities carried out in the CSER Program, which supports the Company
    to achieve the Sustainable Development Goals.




The Company’s Social and Environmental Responsibility –                      business ethics. The CSER program in 2023 is focused on the
later abbreviated to CSER- of SOEs is the implementation of                  main pillars based on the Regulation of the Minister of State-
the company’s commitment towards sustainable development.                    Owned Enterprises Number PER-05/MBU/04/2022 concerning
This program aims to make a constructive contribution to the                 Social and Environmental Responsibility Programs for State-
economy, social sector and environment, as well as regulation                Owned Enterprises as well as the Regulation of the Minister of
and governance in accordance with integrated and directed                    State-Owned Enterprises of the Republic of KPR Number PER-01/
principles. This program ought to generate measurable impacts,               MBU/03/2023 concerning Assignments Special and Social
is accountable and becomes a part of the Company’s business                  and Environmental Responsibility Programs for State-Owned
approach. As one of the biggest banks in housing loans (KPR)                 Enterprises, namely social, environmental, economic, as well as
as well as a state-owned enterprise (SOEs), the Company is                   law and governance.
committed to supporting sustainable development. Factual
assistance is provided by the Company by conducting selected                 CSER Program was implemented in accordance with the main
financing following the principles of sustainable finance.                   pillars, described below:
                                                                             1. Social, achieving the fulfillment of quality basic human rights
The Company continues to strengthen its commitment to social                      fairly and equally to improve the welfare of the community.
and environmental responsibility through integration with the                2. Environment, implementing sustainable management towards
Sustainable Development Goals (SDGs) and implementation of                        natural resources and environment as the support for all lives.
the Social and Environmental Responsibility (CSER) program. As               3. Economy, attaining quality economic growth through
a form of implementation of the Minister of BUMN Regulation                       sustainable employment and business opportunity, innovation,
PER-1/MBU/03/2023 concerning Special Assignments and                              inclusive industry, adequate infrastructure, affordable clean
Social and Environmental Responsibility Programs for State-                       energy and supported by partnerships.
Owned Enterprises, the Company has prepared initiatives that                 4. Legal and Governance, realizing legal certainty and effective,
focus on sustainable development goals and concern for the                        transparent, accountable and participative governance to
environment.                                                                      create security stability and achieve a state based on law.


The Ministry of SOEs encourages all corporations under                       Throughout its implementation, CSER Program is in accordance
its supervision to support the success of the CSER of SOEs                   with the following principles:
program to make contributions to society. The program focuses                1. Integrated, meaning that it is conducted based on risk analysis
on three priority areas namely education, environment and                        and business processes relevant to the stakeholders.
development of micro, small and medium enterprises (MSMEs).                  2. Targeted, meaning that it goes in a clear direction to reach the
The implementation of the BUMN CSER Program applies the                          Company goals.
principles of integration, direction, measurable impact and                  3. Measurable, meaning that it makes contributions and
accountability.                                                                  presents benefits that bring transformation or added value for
                                                                                 stakeholders and the Company.
The accomplishment of the Company’s CSER Program intends to                  4. Accountable, meaning that being accountable to avoid
make contributions to sustainable development, support business                  potential abuse and irregularity.
in the long term and fulfill the expectation of related stakeholders.
The Company interprets the CSER program not only as an
endeavor to construct a harmonious and mutualistic relationship              The current CSER Program is no longer referred to the old
with the environment, community and stakeholders on local,                   Corporate Social Responsibility (CSR) model that is based on
national and global scale but also as an effort to make a positive           charity or philanthropy activities but is supposed to create added
impact and contribution to sustainable economic development.                 value or Creating Shared Value (CSV). CSV refers to the CSER
The moral duty of the company is to help the business flourish               agenda that offers sustainable added value for the community
and improve the domestic sustainable economy by holding onto                 and is able to present benefits for Company in line with the Focus
integrity values, obeying the law and constitution and upholding             and Pillars of CSER.




710          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                   2023 Annual Report




Differences between CSR and CSER’s Creating Shared Value (CSV) Program

                                            CSR                                                        CSER (CSV)
                                                                        Social support which offers/creates economic value for beneficiaries
   Philosophy    Pure social assistance (charity, philanthropy)
                                                                        and Companies
                                                                        -   It provides solutions to social problems, offering sustainable economic
     Value       Good deeds with no return to the Company                   benefits to the community
                                                                        -   Company receives impacts from the social assistance
                 Benefits are bounded only for recipients and are not   It gives social, economic and environmental impacts on the community
    Outcome
                 sustainable                                            and is related to sustainable company business




The The Company’s Commitment to Social
and Environmental Responsibility

The Company views the implementation of Social and                      The Company provides support and contribution to the
Environmental Responsibility (CSER) as a form of accountability         achievement of SDGs, namely development that prioritizes
for the existence of the Company to all stakeholders. The               harmony between economic, social and environmental aspects.
Company carries out various activities in the CSER Program              With the support and contribution, the Company believes that
that are appropriate and relevant to the Company’s business             it has laid down a sustainable foundation, i.e. by creating
and activities as well as possible. The implementation of the           long-term value which is through the creation of sustainable
CSER program has proven the Company’s participation in                  competitive advantage not only for the Company, but also for the
improving the economy of the communities directly affected by           wider community and environment and strengthening resilience.
the COVID-19 induced economic crisis, while also contributing
to sustainable development.




                                   CSER Pillars, Focuses, Programs and Benefits Roadmap




                                                                                                                        LEGAL AND
       SOCIAL PILLARS                       ECONOMIC PILLARS                ENVIRONMENT PILLARS
                                                                                                                    GOVERNANCE PILLARS




                                                                             PT Bank Tabungan Negara (Persero) Tbk                             711
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                                                                    Corporate Social and
                                                                    Environmental Responsibility Program




Sustainable Development Goals (SDGs) are a global action                 which are expected to be achieved by 2030. The Company is
plan agreed by the world leaders, including Indonesia’s.                 aware of its obligation to participate in the achievement of the
Indonesia’s commitment to realizing Sustainable Development              SGDs, especially at point 11, i.e. developing decent, safe and
Goals is stipulated through Presidential Regulation No. 59 of            affordable cities and settlements for everyone by 2030 through
2017 on the Implementation of the Achievement of Sustainable             house ownership financing (KPR) products for the community.
Development Goals. SDGs contains 17 Goals and 169 Targets




Environmental, Social and Governance (ESG)
and Social & Environmental Responsibility (TJSL)
Program Committee

In proposing this ESG framework, strategy and roadmap, the               The duties of the ESG Committee is to carry out evaluations and
Company also pays attention to stakeholder involvement,                  provide recommendations to the President Director regarding
including conducting benchmarking with companies that have               ESG, among others:
implemented ESG both domestically and abroad and holding                 1. Decisions on the Bank’s strategy that has an impact on the
an ESG Workshop with internal participants consisting of 20                  environment, social and governance in the ESG program
divisions, which aim to be supporting validators for the proposed            and roadmap.
draft ESG framework, strategies and initiatives, thereby forming         2. Monitoring the implementation of the Bank’s ESG strategy
an ESG framework that is in line with the Company’s readiness                and roadmap.
and ambitions.                                                           3. Provide information to the Company’s management regarding
                                                                             ESG-related issues including legislation, government
                                                                             programs, international developments, future business trends
Duties a nd Responsibilities                                                 and climate change.
of the ESG Committee                                                     4. Monitor, evaluate and provide recommendations on the
                                                                             results of ESG reports, concerned investors or other third
The Environmental, Social and Governance (ESG) Committee,                    parties regarding ESG implementation.
which was formed to achieve Sustainable Development Goals
and Climate targets, plays a role in providing recommendations
to the President Director to formulate policies, strategies and          Membership Structure
targets for ESG and CSER programs that have an impact on the
environment, social and governance as well as facilities in carry        The ESG Committee is regulated in Special Policy No. KK.9 -
out monitoring and decision making related to the implementation         D concerning Governance Procedures The Board of Directors
of the Company’s ESG and CSER programs.                                  Committee has the following structure:



                     STRUCTURE                                                           POSITION

 Chairman
                                                   President director
 (concurrently permanent member)

                                                   Vice President Director *)
 Directors                                         Director in charge of Risk Management **)
 (concurrently permanent member)                   Director in charge of Human Capital, Compliance & Legal
 Directors/SEVP                                    Director in charge of Asset Management
                                                   Director in charge of Finance

                                                   SEVP Wholesale Banking (Permanent Member)
 Directors/SEVP                                    Other Directors/SEVPs according to the discussion material (Non-Permanent Members)
                                                   SEVP in charge of Compliance and Legal (Non-Permanent Member)

*) Substitute Chairman I
**) Substitute Chairman II




712          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                           2023 Annual Report




General Conditions of Social and
Environmental Responsibility Implementation

The Social and Environmental Responsibility (CSER) is a program      In 2023, Bank BTN has accomplished some CSER agendas
mandated by the Government to State-Owned Enterprises.               following the 4 (four) CSER Pillars namely Social, Economy,
CSER is motivated by environmental and social problems               Environment and Law and Governance and 3 (three) main focus,
arose as a result of rapid development for economic growth.          namely Education, Environment and MSMEs Development. The
Thus, the role of financial institutions is needed in supporting     combination of the four CSER Pillars and three CSER focuses,
sustainable development without damaging the environment             Bank BTN classifies the agendas into:
and society. CSER is seen as a tangible manifestation of             1. Flagship CSER Program.
the Company’s contribution to the efforts in achieving the           2. Creating Shared Value (CSV) CSER Program.
Sustainable Development Goals, by providing economic, social,        3. Collaborative CSER Program.
environmental and legal and governance benefits with more
integrated, targeted, measurable and accountable principles.         The three programs aim to maintain business continuity, pure
For the Company, CSER gives a strategic direction in developing      social and environment, branding and reputation.
financing portfolio for sustainable business activities as well as
changes that will be made by the Company in business processes       The Company understands that the substance of the CSER
and risk management. The changes achieved are relevant in the        program does not only lead to efforts to build harmonious and
context of integrating Environmental, Social, Governance (ESG)       mutually beneficial relationships with the environment, community
risk management in the Company’s business activities.                and stakeholders—both locally, nationally and globally—but also
                                                                     leads to the Company’s mission to have a positive impact and
                                                                     contribution to sustainable economic development. sustainable.



                                  CSER Pillars, Focuses, Programs and Benefits Roadmap


                                            3
 4                                                                                   FLAGSHIP CSER
                 SOCIAL
                                           C                                           PROGRAM
 P
                                            S                                                                          Business
  I                                                     EDUCATION
                                                                                                                      Continuity
                                            E
 L
             ENVIRONMENT                    R
 A
                                            F                                          CSV CSER
 R
                                                                                       PROGRAM
                                           O
 S                                                       MSMEs                                                      Pure Social &
               ECONOMY                     C          DEVELOPMENT                                                   Environment
 C
                                           C
 S
                                           U
 E
              LEGAL AND                     S                                       COLLABORATIVE
 R           GOVERNANCE                                                             CSER PROGRAM
                                            E                                                                        Branding &
                                                      ENVIRONMENT                                                    Reputation


The Company is committed to fulfilling this responsibility by        on the principles of the ISO 26000 standard. Thus, the CSER
constantly running a sound business as well as improving             program carried out by the Company is expected to provide
programs and activities related to CSER. Various activities          benefits for social and environmental development, contribute to
carried out simultaneously reflect the Company’s contribution to     added value creation for the Company and foster the community’s
sustainable development goals whose implementation is based          micro and small businesses to be more resilient and independent.




                                                                         PT Bank Tabungan Negara (Persero) Tbk                  713
Page 345
                                                                           Corporate Social and
                                                                           Environmental Responsibility Program




                                                   7 Principles of ISO 26000 Standard



          Consumer                                   Human                                   Labour
                                                                                                                                Environment
            Issues                                    Right                                  Practice




                           Organizational                                Fair                           Community Involvement
                            Governance                            Operating Practice                      and Development




The implementation of the CSER program is oriented to achieving                  The Company continues to be committed to encouraging
Sustainable Development Goals (SGDs) and is guided by ISO                        sustainable finance through the integration of Environmental,
26000, with the hope that the implementation of CSER at SOEs                     Social and Governance (ESG) aspects in its operational activities.
is more measurable, impactful and sustainable. The Company’s                     The Company’s journey in the ESG realm involves planning
CSER program aims to:                                                            how the Company manages environmental impacts, addresses
1. Provide benefits for economic, social, environmental and                      social issues, and maintains ethical governance standards in
    legal and governance development for the Company;                            all of its banking operations. The Company’s implementation of
2. Contribute to the creation of added value for the Company in                  sustainable finance has been carried out since 2019 through the
    integrated, directed, measurable and accountable manners;                    publication of the Sustainable Finance Action Plan (RAKB) which
3. Foster micro and small businesses and the surrounding                         refers to OJK Regulation No. 51 of 2017 concerning Sustainable
    communities to be more resilient and independent.                            Financing of Financial Services Institutions, Issuers and Public
                                                                                 Companies.
Furthermore, the Company has also set strategic objectives
that are beneficial, sustainable and supporting the streamlined                  The Company as a State-Owned Enterprise (BUMN) and one of the
operation of the Company. This goal setting is also based on the                 largest banks in Indonesia is committed to supporting the realization
concept of People, Planet and Profit Balance.                                    of sustainable development. This is realized by the Company by
                                                                                 providing selective financing, which is in line with the principles of
                                                                                 sustainable finance and the implementation of a sustainable Social
                                                                                 and Environmental Responsibility Program (CSER).


CSER programs that support Sustainable Finance include:


                                                                                                                                     Program
 No.                                                        Program name                                                          Implementation
                                                                                                                                    Work Unit

       Merdeka Belajar is the provision of facilities and infrastructure for early childhood education and rehabilitation of
  1.                                                                                                                           Corporate Secretary
       learning spaces.

  2.   Community-based provision of clean water and healthy sanitation.                                                        Corporate Secretary

  3.   Providing facilities and infrastructure for MSMEs.                                                                      Corporate Secretary

  4.   Providing scholarships for students (primary-high school/equivalent level) and students from low-income families.       Corporate Secretary

  5.   Education and training for young developers, in collaboration with the Housing Finance Center (HFC).                    Corporate Secretary

  6.   Greening Program in residential areas funded by Bank BTN.                                                               Corporate Secretary

  7.   Development of a waste bank program.                                                                                    Corporate Secretary

  8.   Training and empowering people to become entrepreneurs through Bank BTN Business Camp.                                  Corporate Secretary




714         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                     2023 Annual Report




                                                                                                                                  Program
 No.                                                  Program name                                                             Implementation
                                                                                                                                 Work Unit

  9.   Development of public infrastructure (Edu Green Bank BTN) in subsidized housing financed by Bank BTN.                Corporate Secretary

 10.   Handling slum areas.                                                                                                 Corporate Secretary

 11.   Community reading garden program.                                                                                    Corporate Secretary

 12.   Illiteracy eradication program.                                                                                      Corporate Secretary




Implementation of Social and
Environmental Responsibility (CSER) 2023

Through the CSER program, the Company aims to have a positive                together with society. Therefore, by orienting towards the ISO
impact on human social life and the environment. The Company’s               26000 standard, the Company designs programs to support the
CSER program is directed at empowering communities,                          creation of community welfare while providing a positive impact
improving the quality of life, and maintaining the sustainability            for the Company itself. With these steps, the Company continues
of the surrounding ecosystem. CSER is one of the important                   to realize its strategic role in supporting sustainable development
pillars that encourages the Company to innovate and develop                  and creating positive value for all stakeholders.



In 2023 BTN has achieved the following awards:


             May 31, 2023                                       June 9, 2023                                        August 4, 2023

            Social CSR Initiatives -
                                                                 Top CSR Star 4                          IDEAS Indonesia DEI & ESG Awards
             Pelatihan Developer



              Investor Daily                                     Top Business                                      Humas Indonesia



            August 30, 2023                                 September 18, 2023                                   September 26, 2023
                                                     TrenAsia ESG The Best Financial Sector
         TrenAsia ESG Award 2023                    dan Top 50 Biggest Market Capitalization                   Best Bank for CSR in Indonesia
                                                            Public Listed Companies


                  TrenAsia                                            IICD                                             AsiaMoney



           October 26, 2023                                  November 6, 2023                                    November 29, 2022
                                                                                                      ESG Disclosure Transparency Awards 2023
            Anugerah CSR 2023
                                                            ASRRAT 2023 Gold Rank                      PT Bank Tabungan Negara (Persero) Tbk
            Kategori Pendidikan
                                                                                                           dengan Predikat Leadership AA


             Republika.co.id                          National Center for Corporate                                   Investortrust
                                                            Reporting (NCCR)




                                                                                  PT Bank Tabungan Negara (Persero) Tbk                           715
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                                                                 Corporate Social and
                                                                 Environmental Responsibility Program




Highlights Of CSER Activities In 2023

1. Social Pillar                                                          a series of activities that contribute to improving the quality
   Growing together with the community is one of the                      of social, cultural, religious and social welfare life. This
   Company’s main goals which is pursued through holding                  effort is in accordance with the achievements of SDGs 1,
                                                                          2, 3, 4 and 5.




                                                                         BTN Holds Event Ramadhan Berfaedah
                                                                      President Director of Bank BTN, Nixon LP Napitupulu together with
                                                                      President Commissioner, Chandra M Hamzah symbolically provided
                                                                      educational assistance to outstanding sons/daughters of outsourced
                                                                      employees (TAD) at the useful Ramadan event in Jakarta on April 12
                                                                      2023. In this year’s Ramadan, Bank BTN took the theme “Ramadhan
                                                                      Berfaedah” to convey the message that Ramadan should be a starting
                                                                      point for companies to transform to be better and oriented to always
                                                                      provide benefits or advantages. In an effort to provide benefits to
                                                                      customers and the community, Bank BTN also continues to strive to
                                                                      improve services. These include updating BTN Mobile with more and
                                                                      more features that can facilitate various customer transactions during
                                                                      the month of Ramadan.




                                                                         Gerak Srikandi BTN Berbagi
                                                                      President Director of Bank BTN Nixon LP Napitupulu accompanied by
                                                                      Director of Assets Management of Bank BTN Elisabeth Novie Riswanti
                                                                      distributed basic food packages to representatives of residents around
                                                                      the BTN Tower in Jakarta on April 17 2023. In the event called the
                                                                      Gerakan Amal dan Kreasi (Gerak) Srikandi, as many as more than
                                                                      6,000 packages were given to the community around BTN’s work
                                                                      environment and employees of outsourced employees (TAD).




2. Economic Pillar
   In order to achieve quality and sustainable social economic            activities are expected to grow income and reduce poverty
   growth, the Company carries out activities to increase                 levels in society in accordance with SDGs 7, 8, 9, 10, and
   employment and business opportunities. These various                   17.




                                                                         Public Lecture for Millennial Developer
                                                                      Bank BTN President Director, Nixon L.P. Napitupulu gave a Public
                                                                      Lecture in front of 1,200 Bank BTN Millennial Developer Training
                                                                      participants held at the Syiah Kuala University (USK) Audiotorium,
                                                                      Banda Aceh on October 13, 2023. Bank BTN invited students to
                                                                      become property entrepreneurs or developers who own The business
                                                                      potential is large due to the housing backlog figure which is still high
                                                                      at 12.71 million units.




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                                                                                               2023 Annual Report




                                                                      Bank BTN Holds BTN Santri Developer Training
                                                                   President Director of Bank BTN, Nixon L.P. Napitupulu accompanied
                                                                   by the Director of Finance of Bank BTN Nofry Rony Poetra symbolically
                                                                   provided Social and Environmental Responsibility Assistance (CSER) for
                                                                   educational facilities and infrastructure to the Teachers of the Edi Mancoro
                                                                   Islamic Boarding School, Muhamad Hanif, after opening the BTN
                                                                   Santri Developer Training at the Edi Islamic Boarding School Mancoro
                                                                   in Semarang Regency, Central Java on October 28 2023. The aim of
                                                                   BTN Santri Developer is to provide education about the world of property
                                                                   business to Islamic boarding school students/students who are alumni of
                                                                   Islamic boarding schools under the guidance of Nahdlatul Ulama.




3. Environmental Pillar
   Environmental preservation is a priority for the Company.            increase environmental awareness in society. This effort
   Therefore, the Company carries out natural resource and              indirectly supports the achievement of SDGs 6, 11, 12, 13,
   environmental management activities which also aim to                14, and 15.




                                                                      Bank BTN Revitalizes Green Parks in
                                                                      Residential Areas
                                                                   Bank BTN President Director Nixon LP Napitupulu symbolically
                                                                   handed over 1,000 Tabebuya tree seedlings to the General Chairman
                                                                   of Himperra and CEO of Delta Group Property Endang Kawidjaja
                                                                   witnessed by the Minister of State-Owned Enterprises Erick Thohir
                                                                   during the 10,000 unit Bank BTN KPR Mass Contract ceremony at
                                                                   the Puri Delta Tigaraksa Housing Complex, Tangerang, Banten, on
                                                                   August 8 2023. On this occasion the Minister of SOE together with
                                                                   the Main Director of Bank BTN and the Main Commissioner of Bank
                                                                   BTN Chandra M Hamzah, Acting Governor of Banten Al Muktabar,
                                                                   Director General of Housing of the Ministry of PUPR Iwan Suprijanto,
                                                                   Director General of Public Works and Housing Infrastructure
                                                                   Financing of the Ministry of PUPR Herry Trisaputra Zuna and BP
                                                                   Tapera Commissioner Adi Setianto planted trees together.




Bank BTN’s CSER budget in 2023 is allocated IDR 80 billion with the achievement up to December 2023 amounting to IDR 79.99 billion
or 100%.


                                                                Budget Work Plan            Realization up to
 No.                        Field of Activity                  per Sector for 2023          September 2023                         %
                                                                      (IDR)                       (IDR)

       SOCIAL
  1    SDG 1 (No Poverty)                                          6,000,000,000              10,505,377,274                    175.09%
  2    SDG 2 (No Hunger)                                          13,000,000,000              14,798,413,813                    113.83%
  3    SDG 3 (Good Health and Well-Being)                         12,000,000,000              12,348,435,325                    102.90%
  4    SDG 4 (Quality Education)                                   8,000,000,000              12,635,697,919                    157.95%
  5    SDG 5 (Gender Equality)                                       250,000,000                                -                  0.00%
       ECONOMIC PILLAR
  1    SDG 7 (Affordable and Clean Energy)                         1,000,000,000                   50,000,000                      5.00%
  2    SDG 8 (Decent Work and Economic Growth)                     5,000,000,000                4,261,935,431                     85.24%



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                                                                   Budget Work Plan         Realization up to
 No.                           Field of Activity                  per Sector for 2023       September 2023                  %
                                                                         (IDR)                    (IDR)

  3    SDG 9 (Industry, Innovation and Infrastructure)                 7,500,000,000           2,270,000,000               30.27%
  4    SDG 10 (Reduced Inequalities)                                   5,000,000,000           5,734,719,287              114.69%
  5    SDG 17 (Partnerships for The Goals)                             1,200,000,000             943,694,328               78.64%
       ENVIRONMENTAL PILLAR
  1    SDG 6 (Clean Water and Sanitation)                              1,500,000,000             270,000,000               18.00%
  2    SDG 11 (Sustainable City and Communities)                     12,000,000,000           14,993,831,355              124.95%
  3    SDG 12 (Responsible Consumption and Production)                  500,000,000                         -               0.00%
  4    SDG 13 (Climate Action)                                         2,300,000,000                        -               0.00%
  5    SDG 14 (Life Below Water)                                       1,750,000,000                        -               0.00%
  6    SDG 15 (Life on Land)                                           2,500,000,000           1,184,084,000               47.36%
       LEGAL AND GOVERNANCE PILLAR

  1    SDG 16 (Peace, Justice, and Strong Institutions)                 500,000,000                         -

                                TOTAL                                80,000,000,000           79,996,188,732              100.00%




Realization of CSER In Accordance with 3 (Three) CSER Focuses

1. Education Focus



  It is hoped that CSER BTN will encourage or provide positive things, such as a scholarship program for young Indonesians so that
  they can get convenience and access to science and technology. BTN encourages, upgrades, or provides positive things in the field
  of education, such as scholarships for underprivileged and high-achieving children, educational infrastructure, study room facilities
  and rehabilitation of teaching and learning buildings.




                                   Documentation of CSER Agendas in Education 2023




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2. MSME Focus



  Company Social and Environmental Responsibility (CSER) is directed to establish micro, small and medium entrepreneurs in all
  areas through the provision of funding and empowerment of MSMEs. SOEs is expected to stimulate the establishment of micro,
  small and medium enterprise (MSMEs) and provide funding for the emerging micro, small and medium enterprises (MSMEs).


  In achieving quality and sustainable economic growth, the Company carries out activities to increase employment and business
  opportunities. These various activities are expected to grow income and reduce poverty levels in society in accordance with the
  Sustainable Development Goals.




                                  Documentation of CSER for MSME Sector 2023




3. Environmental Focus



  CSER of SOEs was directed to preserve the nature sustainability by synergizing between the environment, people income and
  climate change. One of the programs is by planting beneficial trees, not only for greening and oxygen supply, but also for people
  income and environmental conservation.


  Environmental preservation is something the Company prioritizes. Therefore, the Company carries out natural resource and
  environmental management activities which also aim to increase environmental awareness in society. These efforts indirectly
  support the achievement of the Sustainable Development Goals.




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                       Documentation of CSER in the Environmental Sector 2023




Details of CID Program Based on CSER Focus

No.      Field      Realization (IDR)                  Activity Category                           Distribution of Assistance Areas

 1.   Environment   28,796,350,680      -   Clean Water Facilities                          The Company’s CSER assistance has been provided
                                        -   Construction of Uninhabitable Houses            evenly in all work areas starting from DKI Jakarta,
                                        -   Construction of MCK                             Banjarmasin, Gorontalo, Karawang, Ambon,
                                        -   Public Health Program                           Lampung, East Bandung, Bangkalan, Banyuwangi,
                                                                                            Batam, Bengkulu, Bogor, Cibinong, Cikarang,
                                                                                            Cilegon, Cirebon, Denpasar, Gresik , Jambi,
                                                                                            Jember, Karawaci, Kendari, Kudus, Kupang,
                                                                                            Makassar, Malang, Mataram, Medan, Mojokerto,
                                                                                            Mulyosri, Palembang, Palu, Panakkukang,
                                                                                            Pekanbaru,     Pematang      Siantar,   Pontianak,
                                                                                            Purwakarta, Purwokerto, Semarang, Sidoarjo,
                                                                                            Solo, Sukabumi, Surabaya, Tanjung Pinang,
                                                                                            Tarakan, Tasikmalaya, Malang, Kudus, Medan,
                                                                                            Padang, Sukabumi, Tarakan and Tasikmalaya.

 2.    Education    37,939,489,006      -   Assistance for the Development of Educational   The Company’s CSER assistance has been
                                            Institutions                                    provided evenly in all work areas starting from DKI
                                        -   Assistance for educational facilities and       Jakarta, Bandung, Cirebon, Ambon, Lampung,
                                            infrastructure                                  East Bandung, Bangkalan, Banjarmasin, Batam,
                                        -   BTN Partner University assistance               Bekasi, Bogor, Cibubur, Cikarang, Ciputat,
                                        -   Assistance for the construction of Islamic      Cilegon, Gresik, Karawang, Kediri, Magelang,
                                            boarding schools and madrasas                   Malang, Manado, Medan, Mojokerto, Palembang,
                                        -   Assistance for Islamic boarding school and      Padang, Panakkukang, Pare Pare, Pekalongan,
                                            Madrasah facilities and infrastructure          Pekanbaru, Purwokerto, Semarang, Sidoarjo,
                                        -   Scholarship Assistance                          Solo, Sukabumi, Tanjung Pinang, Yogyakarta,
                                        -   Assistance for school public facilities         Mataram, and Sidoarjo.
                                        -   Free Internet Development Assistance
                                        -   Community Reading Garden Assistance
                                        -   BTN Partner Campus Millennial Developer
                                            Education




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 No.        Field        Realization (IDR)                    Activity Category                            Distribution of Assistance Areas

  3.    Empowerment      13,260,349,046        -   MSME training                                    The Company’s CSER assistance has been provided
          of MSMEs                             -   Farmer Group Assistance                          evenly in all work areas starting from DKI Jakarta,
                                               -   Assistance for Group Business Facilities         Cibinong, Ambon, Lampung, Bangkalan, Jember,
                                               -   Construction of the Islamic Boarding School      Magelang, Makassar, Padang, Pekalongan,
                                                   Environmental Kiosk                              Banjarbaru, Pematang Siantar, Solo, Tanjung
                                               -   Construction of Siger District                   Pinang, and Jogja.
                                               -   Assistance     for   MSME       Facilities and
                                                   Infrastructure
                                               -   Counseling to Jumputan Fabric MSMEs
                                               -   Cultivation Assistance (fresh and sea)




Environmental Sustainability

One of the pillars of the Company’s                climate change. This step is also a form of
environmental, social and governance               the Company’s contribution in supporting
(ESG) framework is the management of               the government’s commitment towards
climate change risks and their impact on the       achieving carbon neutrality (net zero
ecosystem (Climate Change and Ecosystem).          emissions/NZE) by 2060 and to achieve
Therefore, the Company has designed                the 13th Sustainable Development Goals
various programs to mitigate the risks of          (SDGs), namely handling climate change.




                                                       Gotong Royong Boyong Pohon BUMN




Bank BTN emphasizes its commitment to play an active role in improving the quality of life of the community and supporting economic
growth by considering aspects of education, health and environmental preservation. In line with this commitment, Bank BTN is
participating in the Gotong Royong Boyong Pohon initiated by the Ministry of State-Owned Enterprises. This commitment reflects the
Company’s seriousness in maintaining environmental sustainability and making concrete contributions to overcoming the impacts of
climate change. In addition, this commitment is also in line with SDGs Goal 13, namely Addressing Climate Change, and Goal 15,
namely Protecting Land Ecosystems.




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CSER Program Corporate Shared Value Concept (CSV)

1. Go Green BTN Program


                                                                                                                                            Number of
    No.        Program Name                 SDG                      Location                          Types of Assistance
                                                                                                                                           Beneficiaries

      1.     Green Housing (Green         SDG 15     Malang, Surabaya Bukit Darmo,            The Company provides tree seeds for the       Tree planting
                    BTN)                             Palembang, Solo, Pangkal Pinang,         BTN-financed housing                        totaling 14,841
                                                     Jakarta, Pare Pare, Bandar Lampung,                                                         trees
                                                     Tangerang,      Cimahi,     Malang,
                                                     Tasikmalaya,     Makassar,    Bogor,
                                                     Pontianak




                                                                                              Information on the impact provided for Beneficiaries
                                                                                              The provision of tree seeds is expected to improve the green
                                                                                              area in BTN-financed housing so as to create comfortable
      Puri Delta Tigaraksa Residential Environment         BTN Jakarta RUN Supports
                                                                                              residential areas as well as green housing realization.
           Green Park Revitalization Program              the Green Jakarta Movement




               Supporting SDG’s TPB 15:                                                                                 Green open space for
                                                                  Maintain environmental balance
                 Terrestrial Ecosystems                                                                                residential communities


               Supporting SDG’s TPB 13:                            efforts to restore and increase                    As a water regulator to
              Addressing Climate Change                               the effectiveness of land                    prevent flooding and pollution




    Benefits for the Company
    a. If a housing complex becomes a comfortable residence, it is hoped that the quality of housing in a housing complex will increase and ultimately
       increase KPR applications to Bank BTN and credit repayments by the developer in accordance with the plan.
    b. As an effort to reduce Bank BTN’s greenhouse gas emissions and reduce air pollution.


      2.      Urban Bike Gadjah             TPB 3    Yogyakarta                               Support for the development of the                150
               Mada University              and 4                                             Educopolis area, namely a campus                students
                 Environment                                                                  environment that is conducive to learning
                                                                                              and environmentally friendly

                                                                                              Information on the impact provided for Beneficiaries
                                                                                              The campus has transportation infrastructure on campus which
                                                                                              is arranged taking into account various aspects, namely
                                                                                              safety, comfort and the creation of clean air through the
                                                                                              provision of bicycles that can be used by students, lecturers
                                                                                              and employees as well as UGM guests.

                                                                                              Benefits for the Company
                                                                                              a. Introducing Bank BTN as a bank that focuses on the
                                                                                                 campus environment.
                         CSER Urban Bike Gadjah Mada University Yogyakarta                    b. CSER BTN support to Bank BTN University Partners for
                                                                                                 BTN branding and BTN service products for students.




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                                                                                                                                                      Number of
    No.          Program Name                    SDG                       Location                            Types of Assistance
                                                                                                                                                     Beneficiaries




                                                                               Supporting the                                         Eco-friendly
                   Supports SDG’s 3 :                                        UGM Educopolis Area                                        Campus
               Good Health and Well-Being

                     Supports SDG’s 4 :
                     Quality Education                                                          Development of the Educopolis Campus Area,
                                                                                a conducive and environmentally friendly campus environment



2. BTN Education Program


                                                                                                                                                      Number of
    No.          Program Name                    SDG                       Location                            Types of Assistance
                                                                                                                                                     Beneficiaries

     1.        Workshop Developer              SDG 4       Jember, Palembang and Banda Aceh           Providing training and introduction to            1.200
                  for Millenial                                                                       property and to students                         students

                                                                                                      Information on the impact provided for Beneficiaries
                                                                                                      Students gain knowledge about the property industry, it is
                                                                                                      hoped that this knowledge can be applied in the world of
                                                                                                      work or if students want to become entrepreneurs to become
                                                                                                      developers.

                                                                                                      Bank BTN with its core business of housing financing (KPR)
                                                                                                      has a social responsibility, especially in providing literacy
                                                                                                      to the public regarding property. One of the targets for
                                                                                                      property-related literacy is millennials. With literacy, it is
                                                                                                      hoped that millennials will be interested in getting involved
     Laptop educational facilities for students at Syiah   FEB Seminar Room Revitalization Program,   in the world of property and are expected to become young
             Kuala University, Banda Aceh                        University of North Sumatra          developers as a future market for BTN Bank in line with BTN
                                                                                                      Bank housing finance business. This activity is expected to
                                                                                                      create a Creating Shared Value (CSV) for Bank BTN.




                 Supporting SDG’s TPB 4:                                  Providing Property Literacy                  Ensure inclusive and equitable quality
                    Quality Education                                          to the community                                       education



                      Millennials can be interested in getting involved in the world of property and are expected to become young
                      developers as future marketers for BTN Bank


    Benefits for the Company
    a. Introducing Bank BTN as a bank that focuses on property for millennials.
    b. It is hoped that in the future, if they work in the world of property, they will be able to collaborate with Bank BTN in assisting the government in
       meeting the housing backlog for the community..



          In this activity, Bank BTN also collaborated with various stakeholders. Among the housing associations, in this case the Indonesian Realestate
          Companies Association (REI) as a strategic partner of Bank BTN. Bank BTN and REI jointly provide material to students from campuses who are also
          Bank BTN partners.




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                                                                                                                                                   Number of
    No.        Program Name                SDG                        Location                               Types of Assistance
                                                                                                                                                  Beneficiaries

    This Millennial Developer Training Program aims to provide training to students to prepare themselves to become young developers who can help
    the government in reducing the housing backlog in Indonesia. Apart from that, it is also to strengthen Bank BTN’s brand awareness as the bank most
    concerned about housing issues in Indonesia.

                                         2022                                                                             2023

      The design of the Millennial Developer Program is an Educational Sector
                                                                                          Millennial Developer Design Development with many requests from
      Initiative Program to form Young Developers. Locations of activities are
                                                                                          BTN (REI) Stakeholders to be carried out in several locations in greater
      carried out in Manado, Jember, Cirebon and Purwakarta in collaboration
                                                                                          numbers.
      with BTN Stakeholders, in this case Real Estate Indoneis (REI).


                                                                                   2024

      Millennial Developers are included in the Initiative Program for ESG Champions through the CSER Education Program and will be implemented on a
      Roadshow and become a BTN Sustainable Program.

      In 2024, Millennial Developer will be held not only in general but also in:
      • Millennial Developer Roadshow at Large Campuses throughout Indonesia.
      • Specification training for civil, architects and designers.
      • Provide assistance and liaison between Millennial Developers and REI.




3. MSME Empowerment Program


                                                                                                                                                   Number of
    No.        Program Name                SDG                        Location                               Types of Assistance
                                                                                                                                                  Beneficiaries

      1     UMKM Go Digital Bank         SDGs 8      Jepara                                        Company embraces Micro, Small and                   250
                  BTN                    and 11                                                    Medium Enterprises (MSMEs) to continue             MSMEs
                                                                                                   developing their businesses, so they can
                                                                                                   adapt to the digital economy era.

                                                                                                   Information on the impact provided for Beneficiaries
                                                                                                   a. MSME players can take advantage of training, MSME
                                                                                                      showcases and exhibitions in order to improve skills and
                                                                                                      sales.
                                                                                                   b. Encouraging MSMEs to Go Digital to be able to adapt to
                                                                                                      developments in consumer behavior
                                                                                                   c. Facilitate MSMEs to penetrate the export market.

                                                                                                   Benefits for the Company
                                                                                                   Bank BTN supports MSME business actors to increase sales
       Workshop and Training for MSMEs to go          MSME support at the Millennial Developer     by utilizing digital and Bank BTN service products which
    Digital for the Jepara region October 10, 2023   Event at Syiah Kuala University, Banda Aceh   will ultimately influence Bank BTN’s business products and
                                                                                                   improve the MSME economy.




                                                                                                                                MSMEs Go Digital
                  Supports SDG’s 8:                                       Go Digital MSMEs
                                                                                                                               for Export Markets
          Decent Work and Economic Growth

                  Supports SDG’s 11:
          Sustainable Cities and Communities                          MSME development for the Go Digital Program according to needs
                                                                         and upgrading skills according to current consumer behavior




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BTN’S Leading CSER Program

                                                                                                                                               Number of
No.       Program Name                SDG                            Location                            Types of Assistance
                                                                                                                                              Beneficiaries

 1.           Bank Mini              SDG 4       Cibinong, Tasikmalaya, Bogor, Bekasi,          Bank BTN collaborates with the               30 BTN Partner
                                                 Cirebon, Jakarta, Karawaci, Mataram,           BTN Partner Vocational School for               Schools
                                                 Singaraja, Malang, Banyuwangi, Bengkulu,       assistance in the form of outlet replicas.
                                                 Pangkal Pinang, Siantar, Jambi, Ambon,         Construction of Mini Bank as a form of
                                                 Lampung, Tegal, Ternate, Palangkaraya,         support for Financial Inclusion through
                                                 Makassar,     Balikpapan,   Yogyakarta,        the BTN CSER Program.
                                                 Pekalongan

                                                                                                The program being promoted is called Bank Mini, which
                                                                                                aims to increase financial literacy in schools. During 2023,
                                                                                                this program has been implemented in more than 30 schools,
                                                                                                one of which in the Kupang area has received appreciation
                                                                                                from the FSA.

                                                                                                The appointment of schools to receive CSER assistance has
                                                                                                gone through an internal analysis process at Bank BTN with
                                                                                                the criteria including being existing bank customers who
                                                                                                have the potential to increase deposits at Bank BTN. (link
                                 CSER Bank Mini Pangkal Pinang                                  to one of the programs: https://youtu.be/lRDjsjfP6Iw?si=R-
                                                                                                YMfSMTNqeJM0Br)

The Bank Mini program plays an important role in increasing financial literacy for high school/vocational school and equivalent students which also has
an impact on supporting the quality of teaching staff through practice and the existence of Mini Bank facilities/infrastructure from Bank BTN. This program
has been initiated to be implemented in more than 30 educational institutions where it has contributed to the education sector with a very helpful impact
on students’ learning and teaching processes through direct practice which previously focused only on theory.

Information on the impact provided for Beneficiaries
a. Quality Education to ensure inclusive and equitable quality education and increase lifelong learning opportunities for all.
b. CSER Bank Mini activities are a form of support for Financial Inclusion and encourage school students to be able to understand the flow of activities at the
   Bank.

Benefits for the Company
Bank BTN collaborates with Vocational and General Schools which are BTN Partners for Assistance in the form of outlet replicas. Construction of Mini
Bank as a form of Financial Inclusion Support through the BTN CSER Program and also as a form of Financial Inclusion.

Through regulations issued by OJK Regulation No. 76/POJK.07/2016 of 2016, financial inclusion is the availability of access to various formal financial
institutions, products and services in accordance with community needs and capabilities in order to improve community welfare.

The Company continues to strive to increase public knowledge about finance. This effort aims to anticipate less effective financial management by
individuals and groups due to a lack of knowledge about finance. Ineffective financial management has the potential to lead to inappropriate use of
products and services, especially for people in remote areas with low economic conditions and difficult access to financial resources.

Against this background, the Company seeks to provide education to this group to increase customer financial knowledge. Increasing customers’ ability
to use products and services through Bank Mini Bank BTN.

Apart from Financial Inclusion through the Bank BTN Social and Environmental Responsibility (CSER) Program, it is also implemented through the
Customer Care Division for the Financial Inclusion and Financial Literacy programs.

 2.     House Not Inhabitable        SDG 3       Denpasar and Kalimantan                        Bank BTN supports the Acceleration                 200
                                                                                                of Elimination of Extreme Poverty, by              units
                                                                                                providing home repair assistance for
                                                                                                extreme poor families


                                                                                                Information on the impact provided for Beneficiaries
                                                                                                a. Construction of houses that meet building safety
                                                                                                   requirements, sufficient minimum building area, and
                                                                                                   occupant health.
                                                                                                b. Accelerating the Elimination of Extreme Poverty through
                                                                                                   Improving the Quality of Homes.
                                                                                                c. Healthy and Prosperous Life in ensuring a healthy life and
                                                                                                   improving the welfare of the entire population.

          Providing livable houses in collaboration with the Indonesian Army in Denpasar




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                                                                                                                                     Number of
 No.       Program Name            SDG                       Location                             Types of Assistance
                                                                                                                                    Beneficiaries




           Supporting SDG’s TPB 1:                          Residential rehabilitation
                                                                                                          Providing a decent quality of life
                No Poverty                                  for extreme poor families



               Supporting the acceleration of the elimination of extreme poverty, one of which is through assistance activities to
               repair uninhabitable houses and/or build new houses as well as residential relocation for extreme poor families



 Benefits for the Company
 Bank BTN supports the Acceleration of the Elimination of Extreme Poverty through the construction of houses that meet building safety requirements,
 sufficient minimum building area, and occupant health.




Performance Of
the MSE Funding Program in 2023

PROVISIONS MICRO & SMALL BUSINESS FUNDING PROGRAM (MSE)                      •    Special Policy I-XIV dated August 14, 2023 concerning
• SOE Minister’s Letter No. S-721/MBU/11/2022 dated                               Micro and Small Business Funding Program Products.
   November 2022 10, concerning Cooperation in Micro                         •    BTN Cooperation Agreement No. 03/PKS/SMBD/X/2023
   and Small Business Funding Programs (“MSE Program                              with BRI No. B.34/MBD/10/2023 dated October 13,
   Cooperation”).                                                                 2023 concerning Implementation of the Micro and Small
• Minister of State-Owned Enterprises Regulation No. PER-1/                       Business Funding Program.
   MBU/03/2023 dated March 03, 2023 amendments to                            •    BTN Minutes No. 01/BA/SMBD/X/2023 with BRI No.
   Minister of State-Owned Enterprises Regulation No. PER-                        B.751-MBD/10/2023 dated October 18, 2023 concerning
   06/MBU/09/2022 dated September 8, 2022 concerning                              Deposit of Funds for the Micro and Small Business Funding
   Special Assignments and Social and Environmental                               Program.
   Responsibility Programs for State-Owned Enterprises.
• Minister of State-Owned Enterprises Regulation No. SK-                     Source of Funds for the PUMK Program
   277/MBU/10/2023 dated October 04, 2023 concerning                         • Principal funds for repayment of loans from Foster Partners.
   Implementation Guidelines for Settlement of Problematic                   • Balance of allocated PUMK Program funds until the end of
   Sharia Receivables and/or Financing in Micro and Small                       the year.
   Business Funding Programs in BUMN.                                        • Loan administration services/sale and purchase margin/
• Technical Instructions I-XIV.1 dated February 23, 2023                        profit sharing portion, deposit interest and/or current account
   concerning Work Flow for Micro and Small Business Funding                    services from PUMK Program funds.
   Programs.




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PUMK Cash Flow in 2023


                                         Budget Work Plan           Realization
                                                                                            (%)                 RKA            Realization 2023             (%)
                                            (RKA) 2022                2022
 No               Description
                                                  1                      2                  (2:1)                3                       4                 (4:3)

          I. Funds Available

  1.      Initial Balance                    15,254,304,860      15,254,304,860                100%       11,732,472,238        11,732,472,238               100%
          Additional Funds From
  2.                                                         -                     -                -                      -                       -                -
          BUMN Coach
          Loan Repayment from
  3.                                         11,500,000,000      13,799,087,350           119,99%         15,000,000,000        15,264,329,788            101.76%
          Foster Partners
          Refunds from
  4.                                                         -                     -                -                      -                       -                -
          other BUMN Coach
          Loan Administration
  5.                                          1,400,000,000         1,063,597,362           75 97%         1,100,000,000         1,132,613,855            102.96%
          Services Fee
  6.      Other Income                                       -          1,932,666                   -                      -                       -                -
          Receipt Has
  7.                                                         -                     -                -                      -                       -                -
          Not Been Identified
  8.      Other Expenses                                     -                     -                -                      -                       -                -

  9.      Total Funds Available              28,154,304,860         30,118,922,238        106,98%          27,832,472,238        28,129,415,881            101.07%

          Il. Funds Distributed
          Distribution of Loans to
  10                                         17,500,000,000      18,386,450,000           105,07%         18,000,000,000         9,161,600,000             50.90%
          Foster Partners
          Loan Distribution Through
  11                                                         -                     -                -                      -     8,000,000,000                      -
          BUMN/Collaboration
          Distribution of
  12      Development Funds                                  -                     -                -                      -                       -                -
          (Grants)
          Distribution of Special
  13                                                         -                     -                -                      -                       -                -
          BUMN
          Amount of Fund
                                             17,500,000,000         18 386,450,000        105,07%          18,000,000,000        17,161,600,000             95.34%
          Distribution
          Final Balance as of
                                             10,654,304,860         11,732,472,238        110,12%           9,832,472,238        10,970,559,980            111.57%
          December 31



Distribution of MSE Funding Programs


                                                                             2022                                                       2023

 Target                                                                  IDR 17,5 billion                                         IDR 18 billion

 Realization                                                            IDR 18,38 billion                                      IDR 17.16 billion

 Achievement                                                                  105.07 %                                                   95.34%



Distribution Composition Based on Sector


                                             Realization of Distribution in 2022                                Realization of Distribution in 2023
       Business Sector
                                     Number of                                                          Number of
                                                            Total               Percentage                                      Total                  Percentage
                                       MBs                                                                MBs

 Industrial Sector                      20              IDR904,000,000                 4.92%                4             IDR170,000,000                 1.85%

 Service Sector                         56             IDR4,183,500,000           22.75%                   26           IDR1,622,000,000                17.70%

 Trade Sector                          292            IDR12,705,750,000           69.10%                  129           IDR6,529,600,000                71.27%




                                                                                          PT Bank Tabungan Negara (Persero) Tbk                               727
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                                                                             Corporate Social and
                                                                             Environmental Responsibility Program




                                            Realization of Distribution in 2022                          Realization of Distribution in 2023
         Business Sector
                                   Number of                                                    Number of
                                                          Total               Percentage                                Total            Percentage
                                     MBs                                                          MBs

 Fisheries Sector                      4             IDR108,200,000               0.59%             2               IDR100,000,000            1.09%

 Agricultural Sector                   1               IDR50,000,000              0.27%             4                IDR95,000,000            1.04%

 Livestock Sector                      1             IDR410,000,000               2.23%             3                IDR95,000,000            1.04%

 Plantation Sector                     1               IDR25,000,000              0.14%             2               IDR550,000,000            6.00%

 Other Business Sectors                 -                               -                -           -                            -                     -

 Grand Total                         378          IDR18,386,450,000               100%            170           IDR9,161,600,000               100%


Distribution Composition Based on Region


                                                                  Realization in 2022                                 Realization in 2023
 No.                      Region
                                                   Number of                                             Number of
                                                                                 Grade                                                Grade
                                                     MBs                                                   MBs

  1       Bali                                           4                    IDR105,000,000                   1                  IDR60,000,000

  2       DI Yogyakarta                                 11                    IDR281,000,000                   4                 IDR115,000,000

  3       DKI Jakarta                                   40                  IDR2,576,000,000                  10                 IDR788,000,000

  4       Central Java                                  35                  IDR1,864,000,000                  25                IDR1,001,600,000

  5       East Java                                     38                  IDR2,290,000,000                  14                 IDR980,000,000

  6       West Java & Banten                           113                  IDR4,594,500,000                  38                IDR1,882,000,000

  7       Kalimantan                                    21                  IDR1,321,000,000                  18                 IDR780,000,000

  8       Maluku                                        15                    IDR642,000,000                   4                 IDR245,000,000

  9       West Nusa Tenggara                             9                    IDR313,000,000                  13                 IDR525,000,000

  10      East Nusa Tenggara                             5                    IDR145,500,000                   9                 IDR880,000,000

  11      Papua                                          1                     IDR25,000,000                    -                                   -

  12      Sulawesi                                      30                  IDR1,159,450,000                  16                 IDR970,000,000

  13      Sumatera                                      56                  IDR3,070,000,000                  18                 IDR935,000,000

 Total                                                 378                  IDR18,386,450,000                170                IDR9,161,600,000



Number of Foster Partners and Details of Receivables up to 31 December 2023


                                                             Total Foster Partners


                                                 6,967 Debtors
                                                             2022                                                        2023

                                                Amount (IDR)                       (%)                     Amount (IDR)                       (%)

 Pass                                          18,257,799,972                    36.96                       3,452,460,063                     7.00

 Special Mention                                4,535,941,159                     7.38                       7,303,272,049                    14.81

 Doubtful                                       1,649,878,829                     2.76                       4,950,359,453                    10.04

 Lost                                          31,161,220,926                    52.90                      33,616,019,533                    68.16

 Total                                         55,604,840,886                      100                      49,322,111,098                     100




728              PT Bank Tabungan Negara (Persero) Tbk
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                                                                                               2023 Annual Report




Distribution of the PUMK Program in 2023


The amount of PUMK Program distribution in 2023 is IDR 17,16 billion.




              1                                  2                                 3                                   4
                                         Growing a portfolio of          Accompany and increase              Providing distribution of
    Providing independent
                                          principal and interest           awareness of fostered             PUMK programs through
    distribution by branch
                                        returns so that the funds          partner businesses by            cooperation/collaboration
  offices to various business
                                         that can be distributed         participating in national &            with PT Bank Rakyat
  sectors that have potential
                                                 increase                   international events              Indonesia (Persero) Tbk




Development of Partners for the MSE Funding Program


Implementation of coaching is carried out by quarterly OTS visits to Foster Partners by the BTN Branch Office of the coach. The monitoring
and evaluation process of each Foster Partner’s business is important so that the business process can continue in a sustainable manner.



                             Grocery store



                                                                                      Name                Muslihudin

                                                                                      Region              Medan

                                                                                    Realization           June 23, 2022

                                                                                       Limit              IDR25,000,000

                                                                                       Tenor              3 years

                                                                                   Collectability         Pass




                                Food Seller



                                                                                      Name                Dwi Wahyu Purbo S

                                                                                      Region              Jambi

                                                                                    Realization           July 05, 2022

                                                                                       Limit              IDR100,000,000

                                                                                       Tenor              2 years

                                                                                   Collectability         Pass




                                                                            PT Bank Tabungan Negara (Persero) Tbk                  729
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                                                                     Corporate Social and
                                                                     Environmental Responsibility Program




                           Cell Phone Store



                                                                                        Name                   Magdalena Sembiring

                                                                                        Region                 Medan

                                                                                      Realization              December 19, 2022

                                                                                         Limit                 IDR150,000,000

                                                                                         Tenor                 3 years

                                                                                     Collectability            Pass




                              Barbershop



                                                                                        Name                   Aditya Cella

                                                                                        Region                 Palu

                                                                                      Realization              June 12, 2023

                                                                                         Limit                 IDR50,000,000

                                                                                         Tenor                 3 years

                                                                                     Collectability            Pass




Financial Literacy and Inclusion – Fulfillment of OJK
Regulation 3/2023 Concerning Financial Literacy and
Inclusion

The Company fulfills its obligations to Stakeholders and the OJK          • Report on the Implementation of Financial Literacy and
in accordance with regulations, namely regarding transparency               Inclusion Activities in 2023: reported every quarter (March,
and publication of financial and non-financial conditions. Other            June, September, December).
information aims to support information disclosure, financial             • 2024 Financial Literacy and Inclusion Activity Planning Report:
education and services to the community. The Company has                    reported in November 2023.
reports related to Financial Literacy and Inclusion, among others:


Various Financial Literacy and Inclusion activities that have been reported to regulators (BI and OJK) are as follows:


Financial Literacy in 2023

                                                                                                      Period
 No.       Stream             Scope                    Activity Name                                                               Frequency
                                                                                          Start                   Ended
                                              Entrepreneurship talk show with
  1.       Funding      Financial Education   guest stars Alan Budi Kusuma and    January 23, 2023          January 29, 2023       1 time
                                              Susi Susanti

  2.       Lending      Financial Education   Marketing and Developer Gathering   May 4, 2023               May 4, 2023            1 time
                                              Educate      Customers      about
  3.        Digital     Financial Education                                       January 1, 2023           December 31, 2023      1 time
                                              Information Security




730         PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                      2023 Annual Report




                                                                                                        Period
 No.      Stream              Scope                    Activity Name                                                               Frequency
                                                                                            Start                   Ended
  4.      Inclusion     Financial Education   SIMOLEK Program (West Java)           July 1, 2023              September 30, 2023   1 time
                                              SIMOLEK     Program  (Kupang,
                                              Surabaya, Denpasar, Malang,
  5.      Inclusion     Financial Education   Mataram, Bangkalan, Madiun,           July 27, 2023             September 8, 2023    1 time
                                              Jember,    Kediri,  Singaraja,
                                              Banyuwangi)
                                              SIMOLEK Program (Makassar,
  6.      Inclusion     Financial Education                                         August 9, 2023            August 9, 2023       1 time
                                              Palangkaraya, Gorontalo)
                                              Socialization of Cash Waqf in the
  7.      Funding       Financial Education                                         August 1, 2023            December 20, 2023    1 time
                                              Educational Environment
       Communication
  8.                    Financial Education   SRIKANDI Goes to Campus               August 14, 2023           August 14, 2023      1 time
       & Partnerships
  9.      Funding       Financial Education   BTN Market Beat September 2023        September 16, 2023        September 16, 2023   1 time
                                              Socialization of the Subsidized KPR
 10.      Lending       Financial Education                                         October 19, 2023          October 19, 2023     1 time
                                              Program
                                              Education and Training for young
                                              Developers in collaboration with
 11.      Lending       Financial Education                                         October 28, 2023          October 28, 2023     1 time
                                              HFC (Santri Developers and
                                              Millennial Developers)
                                              Training and Empowerment of the
                                              community to become entrepreneurs
 12.      Lending       Financial Education                                         November 9, 2023          November 9, 2023     1 time
                                              through the Bank BTN Business
                                              Camp
                                              Financial Literacy of Prospective
 13.      Lending       Financial Education   Indonesian Migrant Workers and        December 14, 2023         December 14, 2023    1 time
                                              Japanese Interns



Financial Inclusion in 2023

                                                                                                        Period
 No.      Stream              Scope                    Activity Name                                                               Frequency
                                                                                            Start                   Ended
  1.       Digital      Access Expansion      Launching Super Apps BTN Mobile       February 9, 2023          May 31, 2023         1 time
                        Provision       of
                                              Improved BTN Call 150286 and
  2.     Reporting      Financial Products                                          May 3, 2023               May 3, 2023          1 time
                                              1500286 services
                        and/or Services
                                              Inauguration of the KPR BTN Sales
  3.      Lending       Access Expansion                                            June 16, 2023             June 16, 2023        1 time
                                              Center to increase Market Share
                        Provision       of    Mass KPR contract for 10,000 units
  4.      Lending       Financial Products    at Puri Delta Tigaraksa Housing       August 8, 2023            August 8, 2023       1 time
                        and/or Services       Complex
                        Provision       of
                                              Increased KPR distribution for the
  5.      Lending       Financial Products                                          September 9, 2023         September 26, 2023   1 time
                                              sharia and sports sectors
                        and/or Services
                        Provision       of    BTN Bisnis Savings Roadshow with
  6.      Funding       Financial Products    Alan Budi Kusuma and Director of      September 23, 2023        September 23, 2023   1 time
                        and/or Services       Distribution Funding
                                              Addition of BI-Fast and other
  7.       Digital      Access Expansion      payment features to BTN Mobile        January 1, 2023           December 31, 2023    1 time
                                              (Mobile Banking)
                        Provision       of    BTNPreneur activities take the form
  8.      Lending       Financial Products    of an MSME Bazaar fostered by         January 1, 2023           December 31, 2023    2 times
                        and/or Services       Bank BTN
                                              Opening of Branch Offices and
  9.      Inclusion     Access Expansion      Sub-Branch Offices (Conventional      January 1, 2023           December 31, 2023    19 Times
                                              and Sharia)
                                              Addition of Mobile Cash Cars
                                              (BTNMove) in 2023 to increase the
 10.      Inclusion     Access Expansion                                            January 1, 2023           December 31, 2023    8 Times
                                              availability of access to Bank BTN
                                              products and services
                        Provision       of
                                              Gathering to increase the use of
 11.      Funding       Financial Products                                          July 10, 2023             July 10, 2023        2 times
                                              SBN Perdana products
                        and/or Services




                                                                               PT Bank Tabungan Negara (Persero) Tbk                         731
Page 363
                                                                  Corporate Social and
                                                                  Environmental Responsibility Program




Satisfaction, Loyalty, Engagement (SLE) Index Survey 2024



                                                       SLE Index 2022 (%)



                       56         55.36                                          56.97           55.68              55.56
                                               53.26




                                 KBMI 3                                                        KBMI 4

      Arranged based on index value (%)
      • Industry : -                         • KBMI 3       : 52.15
                                                                                               “10th position on KBMI 3“
      • KBMI 4 : -                           •              : 48.64


                                                       SLE Index 2023 (%)



                   64.04          62.74                                          64.79           62.9               62.68
                                               61.27




                                 KBMI 3                                                        KBMI 4

      Arranged based on index value (%)
      • Industry : 61.18                     • KBMI 3       : 59.19
                                                                                                “4th position on KBMI 3“
      • KBMI 4 : 62.38                       •              : 60.00


                                                       SLE Index 2024 (%)



           66.04            65      64.71          63.26                                      64.91
                                                                 62.14        62.02                            62
                                                                                                                             58.17




                       KBMI 3                                   KBMI 4                                        BUS

      Arranged based on index value (%)
      • Industry : 61.82                     • BUS          : 61.79
                                                                                                “1st position on KBMI 3“
      • KBMI 4 : 61.25                       •              : 66.04
      • KBMI 3 : 61.59


                                                                                             *Measured by : Tim Marketing Research Indonesia (MRI)


732         PT Bank Tabungan Negara (Persero) Tbk
Page 364
INDEKS
OJK


         PT Bank Tabungan Negara (Persero) Tbk   733
Page 365
Indeks
OJK

                Criteria                                                     Explanation                               Page     Regulations
UMUM

Annual Report is well printed and
                                            The Annual Report is well printed and bound.                                √     POJK 29
bound.

Annual Report must be reproduced
in the form of printed copies of
                                                                                                                        √     POJK 29
documents and electronic copies of
documents.

Annual Reports are presented in
                                                                                                                        √     POJK 29
Indonesian and foreign languages

Annual Report must be published
on the Issuer’s or Public Company’s
Website on the same date as the                                                                                         √     POJK 29
submission of the Annual Report to the
Financial Services Authority.

KILAS KINERJA

                                            Information includes, among others:

                                            1.   Sales revenue.                                                         21    SEOJK 16
                                            2.   Gross profit.                                                          22
Summary of important financial data
contains financial information              3.   Operational profit.                                                    22
presented in comparative form for 3                                                                                           SEOJK 9
                                            4.   Profit before tax.                                                     22
(three) financial years or since starting
their business if the Issuer or             5.   Net profit.                                                            22
Public Company has been running its         6.   Profit and loss.                                                       22    SEOJK 16
business activities for less than 3
(three) years.                              7.   Total comprehensive profit (loss).                                     22    SEOJK 9

                                            8.   Total profit (loss) attributable to owners of the parent entity and          SEOJK 16
                                                                                                                        -
                                                 non-controlling interests.

                                            9.   Total comprehensive profit (loss).                                     22

                                            10. Total comprehensive profit (loss) attributable to owners of the               SEOJK 16
                                                                                                                        -
                                                parent entity and non-controlling interests.

                                            11. Earnings (loss) per share.                                              22

                                            12. Total assets.                                                           19    SEOJK 9
                                                                                                                              SEOJK 16
                                            13. Total liabilities.                                                      20

                                            14. Total equity.                                                           21

                                            15. Third-party funds.                                                      19
                                                                                                                              SEOJK 9
                                            16. Loans received.                                                         20

                                            17. Ratio of profit (loss) to total assets.                                 24

                                            18. Profit (loss) to equity ratio.                                          24

                                            19. Profit (loss) to revenue/sales ratio.                                   24
                                                                                                                              SEOJK 16
                                            20. Current ratio.                                                          24

                                            21. Liability to equity ratio.                                              24

                                            22. Ratio of liabilities to total assets.                                   24




734          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                             2023 Annual Report




              Criteria                                 Explanation                                       Page       Regulations

                         23. CAR ratio.                                                                    24     SEOJK 9

                         24. Productive assets.                                                            24

                         25. Non-performing loans (NPL) ratio.                                             24

                         26. Ratio of Operating Expenses to Operating Income (BOPO).                       24

                         27. Cost to Income Ratio(CIR).                                                    24

                         28. Net Interest Margin (NIM) ratio.                                              24

                         29. Percentage of violations and exceedances of the Legal Lending
                                                                                                           24
                             Limit (BMPK).

                         30. Statutory Reserve Ratio (GWM).                                                24

                         31. Net Open Position (NOP) Ratio.                                                24

                         32. Information and other financial ratios that are relevant to the issuer               SEOJK 9
                                                                                                           24
                             or public company and the type of industry.                                          SEOJK 16

                         Information on shares for Public Companies at least contains:

                         1. Shares that have been issued for each quarter presented in
                            comparative form for the last 2 (two) financial years, at least contain:

                           a. Number of outstanding shares.

                           b. Market capitalization is based on the price on the stock exchange
                              where the shares are listed.
                                                                                                         25-26    SEOJK 16
                           c. The highest, lowest and closing share prices are based on the
                              price on the stock exchange where the shares are listed.

                           d. Volumetrading on the stock exchange where the shares are listed.

                         Information in letter b), letter c) and letter d) is only disclosed if the
                         shares are listed on the stock exchange.

                         Information is presented in the form of graphs and tables.

                         2. such as a stock split, reverse stock, stock dividends, bonus shares,
                            changes in the nominal value of shares, issuance of convertible
                            securities, and additions and capital reduction, share information as
                            referred to in number 1) is added with an explanation of at least:
Stock Information
                           a. The date of implementation of the corporate action.

                           b. Stock split ratios, reverse stock ratios, stock dividends, shares.                  SEOJK 16
                           c. bonus, number of convertible securities issued, and changes in               27
                              share nominal value.

                           d. The number of outstanding shares before and after the corporate
                              action.

                           e. The number of effect conversions implemented (if any).

                           f. Stock prices before and after corporate actions.

                         3. In the event of a temporary suspension of share trading (suspension)
                            and/or delisting of shares during the financial year, the reasons
                                                                                                           29     SEOJK 16
                            for the temporary suspension of share trading (suspension) and/or
                            delisting of shares (delisting) shall be explained.

                         4. In the event that the temporary suspension of share trading
                            (suspension) as referred to in number 3) and/or the process of
                            canceling the listing of shares (delisting) is still ongoing until the
                                                                                                           29     SEOJK 16
                            end of the Annual Report period, the actions taken to resolve
                            the temporary suspension of share trading (suspension) and/or
                            cancellation are explained. listing of shares (delisting).




                                                                      PT Bank Tabungan Negara (Persero) Tbk                  735
Page 367
               Criteria                                               Explanation                                      Page      Regulations

REPORT OF DIRECTORS AND BOARD OF COMMISSIONERS

                                        The Board of Directors’ report contains at least a brief description of:

                                        1. Performance of Issuers or Public Companies, at least includes:

                                                                                                                               SEOJK 9
                                           a. Issuer’s or Public Company’s strategy and strategic policies
                                                                                                                       50-51   SEOJK 16
                                              (including for UUS if the Bank owns UUS).

                                           b. The role of the Board of Directors in formulating the strategy and
                                                                                                                        50
                                              strategic policies of the Issuer or Public Company.
                                                                                                                               SEOJK 16
                                           c. The process carried out by the Board of Directors to ensure the
                                                                                                                        50
                                              implementation of the Issuer’s or Public Company’s strategy.

                                           d. Comparison between the results achieved and those targeted by                    SEOJK 9
                                                                                                                        52
                                              the Issuer or Public Company.                                                    SEOJK 16
                                           e. Obstacles faced by Issuers or Public Companies.                           52

                                           f. Organizational structure.                                                45-46

                                           g. Main activity.                                                            45

                                           h. Information Technology.                                                   46

Directors Report                           i. Types of products and services offered, including lending to
                                                                                                                        45
                                              debtors of micro, small and medium enterprises.

                                           j. Interest rates for raising and providing funds.                          47-49

                                           k. Economic development and target market.                                  46-47

                                           l. Networks and business partners at home and/or abroad.                     45     SEOJK 9
                                           m. Number, type and location of offices.                                     45

                                           n. Ownership of the Board of Directors, Board of Commissioners
                                                                                                                        NA
                                              and shareholders in the Bank’s business group.

                                           o. Important changes that occurred in the Bank and the Bank’s
                                                                                                                        NA
                                              business group in the year concerned.

                                           p. Important things that are expected to happen in the future.              53-54

                                           q. Human resources include the number, level of education, training,
                                                                                                                        46
                                              and development of human resources.

                                        2. An overview of the business prospects of the Issuer or Public                       SEOJK 9
                                                                                                                       53-54
                                           Company.                                                                            SEOJK 16
                                        3. Implementation of Issuer or Public Company governance.                      54-57

                                        The Board of Commissioners’ report contains at least a brief description of:

                                        1. Assessment of the Board of Directors’ performance regarding the
                                           management of Issuers or Public Companies, including oversight by
                                           the Board of Commissioners in the formulation and implementation            63-64
                                           of the Issuer’s or Public Company’s strategy carried out by the Board
                                                                                                                               SEOJK 16
                                           of Directors.
                                                                                                                               SEOJK 9
Report of the Board of                  2. Views on the business prospects of Issuers or Public Companies
                                                                                                                        65
Commissioners                              compiled by the Board of Directors.

                                        3. Views on the implementation of governance of the Issuer or Public
                                                                                                                       65-68
                                           Company.

                                        4. Changes in the composition of the Board of Commissioners (if any)
                                                                                                                       68-69
                                           and reasons for the changes.
                                                                                                                               SEOJK 9
                                        5. Frequency and method of providing advice to members of the Board
                                                                                                                        63
                                           of Directors.

                                        Statement Letter from Members of the Board of Directors and Members
                                        of the Board of Commissioners regarding Responsibility for the Annual
Statement Letter from Members of the    Report. Statement letter from members of the Board of Directors and                    SEOJK 16
Board of Directors and Members of the   members of the Board of Commissioners regarding responsibility for the         76-77   POJK 29
Board of Commissioners                  Annual Report is prepared in accordance with the format of Statement
                                        Letter from Members of the Board of Directors and Members of the Board
                                        of Commissioners regarding Responsibility for the Annual Report.




736         PT Bank Tabungan Negara (Persero) Tbk
Page 368
                                                                                                               2023 Annual Report




                Criteria                                                  Explanation                                      Page       Regulations

COMPANY PROFILE

                                             Access to Issuers or Public Companies including branch offices or
                                             representative offices that enable the public to obtain information about
                                             Issuers or Public Companies, including:
                                                                                                                                    SEOJK 9
                                             1. Address
Company name and full address                                                                                              80-81    SEOJK 16
                                             2. Phone number

                                             3. Email address

                                             4. Website address

                                             Contains information including:

                                             1. Name and address of the subsidiary, including:
                                                a. Address
                                                b. Phone number
                                                c. E-mail address
Name and address of subsidiary and/             d. Website address
or branch office or representative                                                                                                  SEOJK 9
                                             1. Name and address of the branch/representative office, including:
office (if any)                                                                                                            82-87    SEOJK 16
                                                a. Address
                                                b. Phone number
                                                c. Email address
                                                d. Website address

                                             Notes: if the company does not have subsidiaries, branch offices, and
                                             representative offices, so that it is disclosed.

                                             Include among others: date/year of establishment, name, change of
                                             company name (if any), and effective date of change of company                         SEOJK 9
Brief history    of   Issuer   or   Public
                                             name.                                                                         92-93    SEOJK 16
Company
                                             Notes: if the company has never changed its name, please disclose it.

                                             Includes:

                                             1. Company Vision                                                               94
                                                                                                                                    SEOJK 9
Vision, Mission and Corporate Culture        2. Company Mission                                                              95     SEOJK 16
                                             3. Statement that the vision and mission have been reviewed and
                                                approved by the Board of Directors/Board of Commissioners in the           96-99
                                                financial year.

                                             Description of, among others:

                                             1. The company’s business activities according to the latest articles of               SEOJK 9
                                                                                                                            100
Business activities                             association.                                                                        SEOJK 16
                                             2. Business Activities Undertaken.                                             100

                                             3. Products and/or services produced.                                        103-114

                                             Issuer’s or Public Company’s operational area. The operational area
                                                                                                                                    SEOJK 16
Operational Area                             is the area or area where operational activities are carried out or the      116-117
                                             scope of the company’s operational activities.

                                             The organizational structure of the Issuer or Public Company in
                                             the form of a chart, at least up to 1 (one) level below the Board of                   SEOJK 9
Organizational structure                     Directors including committees under the Board of Directors (if any)         118-119   SEOJK 16
                                             and committees under the Board of Commissioners, accompanied by
                                             names and positions.

                                             List of industry association memberships both on a national and
Association Membership                                                                                                      115     SEOJK 16
                                             international scale related to the implementation of sustainable finance.




                                                                                         PT Bank Tabungan Negara (Persero) Tbk                 737
Page 369
               Criteria                                       Explanation                                     Page       Regulations

                                Profile of the Board of Directors, at least contains:

                                1. Name and position in accordance with the duties and responsibilities.

                                2. Latest photos.

                                3. Age.

                                4. Citizenship.

                                5. Educational history and/or certification.

                                6. Position history, including information on:                                         SEOJK 9
                                                                                                                       SEOJK 16
                                  a. The legal basis for appointment as a member of the Board of
                                     Directors of the Issuer or Public Company concerned

                                  b. Concurrent positions, both as members of the Board of Directors,
                                     members of the Board of Commissioners, and/or committee
                                     members as well as other positions both inside and outside
                                     the Issuer or Public Company. In the event that members of the
Board of Directors Profile                                                                                   120-133
                                     Board of Directors do not have concurrent positions, then this is
                                     disclosed.

                                  c. Work experience and time period both inside and outside the
                                     Issuer or Public Company.

                                7. of the Board of Commissioners, major shareholders and controllers,
                                   either directly or indirectly to individual owners, including names of
                                   affiliated parties. In the event that members of the Board of Directors             SEOJK 9
                                   have no affiliation, the Issuer or Public Company shall disclose this.              SEOJK 16
                                   Financial relationships and family relationships of members of the                  POJK 13
                                   Board of Directors and members of the Board of Commissioners with
                                   other members of the Board of Directors, other members of the Board
                                   of Commissioners, and/or controlling shareholders of the Bank.

                                8. Changes in the composition of members of the Board of Directors
                                   and reasons for the changes. In the event that there is no change in                SEOJK 16
                                   the composition of the members of the Board of Directors, this will be
                                   disclosed.

Profile of the Board of
                                Profile of the Board of Commissioners, at least contains:
Commissioners

                                1. Name and position.

                                2. Latest photos.

                                3. Age.

                                4. Citizenship.

                                5. Educational history and/or certification.

                                6. Position history, including information on:

                                  a. The legal basis for appointment as a member of the Board of                       SEOJK 9
                                     Directors of the Issuer or Public Company concerned                               SEOJK 16

                                  b. Legal basis for the first appointment as a member of the Board of
                                     Commissioners who is an independent commissioner of the Issuer
                                     or Public Company concerned.

                                  c. Concurrent positions, both as members of the Board of Directors,        134-144
                                     members of the Board of Commissioners, and/or committee
                                     members as well as other positions both inside and outside
                                     the Issuer or Public Company. In the event that members of the
                                     Board of Directors do not have concurrent positions, then this is
                                     disclosed.

                                  d. Work experience and time period both inside and outside the
                                     Issuer or Public Company.

                                7. Affiliation with other members of the Board of Directors, members
                                   of the Board of Commissioners, major shareholders and controllers,
                                   either directly or indirectly to individual owners, including names of
                                   affiliated parties. In the event that members of the Board of Directors             SEOJK 9
                                   have no affiliation, the Issuer or Public Company shall disclose this.              SEOJK 13
                                                                                                                       SEOJK 16
                                  Financial relationships and family relationships of members of the                   POJK 17
                                  Board of Directors and members of the Board of Commissioners with
                                  other members of the Board of Directors, other members of the Board
                                  of Commissioners, and/or controlling shareholders of the Bank.




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                Criteria                                               Explanation                                       Page       Regulations

                                          8. Statement of independence of the independent commissioner in the
                                             event that the independent commissioner has served more than 2
                                             (two) terms.

                                          9. Changes in the composition of members of the Board of Directors                      SEOJK 16
                                             and reasons for the changes. In the event that there is no change in
                                             the composition of the members of the Board of Directors, this will be
                                             disclosed.

                                          Including the composition of executive officers along with their positions
Executive officer brief profile                                                                                         150-168   SEOJK 9
                                          and a summary of Curriculum Vitae.

                                          Data on employee competency development that has been carried out
                                          in the financial year consisting of parties (position levels) who attended
                                          training, types of training, and training objectives as well as equal                   SEOJK 9
Number of employees and employee
                                          opportunities for all employees.                                              168-170   SEOJK 16
competency development data.
                                          Employee competency development costs that have been incurred in
                                          the financial year.

                                          Names of shareholders and percentage of ownership at the beginning
                                          and end of the financial year, which consists of information regarding:

                                          1. Shareholders who own 5% (five percent) or more shares of Issuers or
                                             Public Companies.

                                          2. Members of the Board of Directors and members of the Board of
                                             Commissioners who own shares of Issuers or Public Companies.

                                            In the event that all members of the Board of Directors and/or all
                                            members of the Board of Commissioners do not own shares, then
                                            this matter shall be disclosedthe.

                                          3. shares by members of the Board of Directors and members of the                       SEOJK 9
                                             Board of Commissioners at the beginning and end of the financial                     SEOJK 16
                                             year, including information regarding shareholders who are                           POJK 17
                                             registered in the register of shareholders for the benefit of indirect
                                             ownership by members of the Board of Directors and members of the
                                             Board of Commissioners.

                                            In the event that all members of the Board of Directors and/or
                                            all members of the Board of Commissioners do not have indirect
Shareholder composition                     ownership of the shares of the Issuer or Public Company, then this          170-175
                                            matter must be disclosed.

                                            Directors and commissioners who own Shares (Directors and Board
                                            of Commissioners/Supervisory Board must report to the company
                                            regarding their and/or family’s share ownership in the company
                                            concerned and other companies, including any changes thereto).

                                          4. Group of public shareholders, namely groups of shareholders who
                                                                                                                                  SEOJK 16
                                             each own less than 5% (five percent) of the shares of the Issuer or
                                             Public Company.

                                          5. Number of shareholders and percentage of ownership at the end of
                                             the financial year based on classification:

                                            a. Ownership of local institutions.
                                                                                                                                  SEOJK 16
                                            b. Ownership of foreign institutions.

                                            c. Local individual ownership.

                                            d. Foreign individual ownership.

                                          The above information can be presented in tabular form.

                                          Information regarding major shareholders and controllers of Issuers or                  SEOJK 9
Major and controlling shareholder         Public Companies, either directly or indirectly, up to individual owners,       175     SEOJK 16
                                          presented in the form of a schematic or chart.

                                          Names of subsidiaries, associated companies, joint venture companies
                                          where the Issuer or Public Company has joint control of the entity (if
                                          any), along with the percentage of share ownership, line of business,                   SEOJK 9
List of associate subsidiaries, venture
                                          total assets, and operating status of subsidiaries, associated companies,       175     SEOJK 16
companies
                                          joint venture companies.
                                          For subsidiaries, information regarding the address of the subsidiary
                                          is added.




                                                                                      PT Bank Tabungan Negara (Persero) Tbk                  739
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               Criteria                                                     Explanation                                      Page       Regulations

                                             Banks that are part of a business group and/or have Subsidiaries,
                                             must add:

                                             The structure of the Bank’s business group which includes:

                                             a. The structure of the Bank’s business group consists of the Bank,
                                                Subsidiaries, sister companies, Parent Entity up to the ultimate
Information related       to    the   Bank
                                                shareholder.                                                                 175      SEOJK 9
Business Group
                                             b. Management linkage structure within the Bank’s business group.

                                             c. Shareholders acting on behalf of other shareholders. The definition
                                                of a shareholder acting on behalf of another shareholder is an
                                                individual shareholder or an entity that has the common goal of
                                                controlling the Bank, based on or not based on an agreement.

                                             Chronology of share listing, number of shares, number of listed shares
                                             after each corporate action, nominal value, and offering price from the
                                             beginning of listing to the end of the financial year as well as the name
                                             of the stock exchange where the Issuer’s or Public Company’s shares                      SEOJK 16
Share listing chronology                                                                                                    176-178
                                             are listed, including stock splits ( stock split), merger of shares (reverse
                                             stock), stock dividends, bonus shares, and changes in the nominal
                                             value of shares, implementation of conversion effects, implementation
                                             of capital additions and reductions (if any).

                                             Information on the listing of other securities that are not yet due in the
                                             financial year at least contains the names of the securities, the type of
Information on the listing of other          corporate action that causes a change in the number of other
                                                                                                                            178-187   SEOJK 16
securities                                   securities, year of issue, interest rate/yield, maturity date, offering
                                             value, name of stock exchange where other securities are listed, and
                                             securities rating (if any).

                                             Information on the use of public accounting services (AP) and public
                                             accounting firms (KAP) and their networks/associations/alliance
                                             includes:

                                             1. Name and address.

                                             2. Assignment period.

Information on the use of public             3. Information on audit and/or non-audit services provided.
accounting services (AP) and public                                                                                          188      SEOJK 16
                                             4. Audit and/or non-audit service fees for each assignment given
accounting firms (KAP)
                                                during the financial year.

                                             5. In the event that the designated AP and KAP and their network/
                                                association/alliance do not provide non-audit services, then the
                                                information shall be disclosed.

                                             Disclosure of information on the use of AP and KAP services and their
                                             networks/associations/alliances can be presented in tabular form.

Name and address of supporting               Names and addresses of capital market supporting institutions and/or                     SEOJK 16
                                                                                                                            188-192
institution and/or profession.               professions other than AP and KAP.

                                             Information includes, among others:

                                             1. Name of award and/or certification (national and international
                                                scale).
                                                                                                                                      SEOJK 9
Awards and Certifications.                                                                                                  193-202
                                             2. Year of award and/or certification.

                                             3. Awarding and/or certification bodies.

                                             4. Validity period (for certification).

MANAGEMENT DISCUSSION AND ANALYSIS OF THE COMPANY’S PERFORMANCE

                                             1. Long term plan (corporate plan).                                                      SEOJK 13
Bank Strategic Plan                                                                                                         212-219
                                             2. Medium and short term plans (business plan).                                          POJK 17

                                             Operational review per business segment according to the type of
                                             industry of the Issuer or Public Company, at least concerning:

                                             1. Explanation of each business segment.                                       232-261

                                             2. Performance per business segment, among others:                                       SEOJK 9
Operational    review     per     business
                                                                                                                                      SEOJK 16
segment                                         a. Production, which includes process, capacity, and development.           233-262

                                                b. Increase/decrease in production capacity.                                233-262

                                                c. Sales/business income.                                                   262-263

                                                d. Profitability.                                                           262-263




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              Criteria                                                    Explanation                                          Page         Regulations

                                         Comprehensive financial performance which includes a comparison of
                                         financial performance in the last 2 (two) financial years (in the form of
                                         narratives and tables), an explanation of the causes of the changes and
                                         the impact of these changes, at least concerning:

                                         1. Current assets, non-current assets, and total assets.                          266, 270-272

                                         2. Short term liabilities, long term liabilities and total liabilities.           267-268, 272   SEOJK 9
Description of the company’s             3. Funding (investment and giving credit/financing).                              267, 270-271   SEOJK 16
financial performance
                                         4. Third party funds and other funding sources.                                   267-268, 272

                                         5. Equity.                                                                          269, 273

                                         6. Income/sales, expenses, profit (loss), other comprehensive income,
                                                                                                                              274-277
                                            and total comprehensive profit (loss).

                                         7. Cash flow.                                                                        277-279

                                         8. Basic credit interest rate.                                                         287       SEOJK 9

Analysis of the quality of earning
                                                                                                                              287-289     SEOJK 9
assets and relevant financial ratios.

Discussion and analysis of the ability   Explanation of:
to pay debts and the collectability of
                                         1. Ability to pay debts, both short term (liquidity) and long term
the company’s receivables, by                                                                                                 280-281
                                            (solvability).                                                                                SEOJK 16
presenting the calculation of the
relevant ratio according to the type
                                         2. Receivables collectibility level.                                                   283
of company’s industry.

                                         Top explanation:

Discussion on capital structure and      1. Details of the capital structure (capital structure), which consists of
                                                                                                                              291-292     SEOJK 16
management policies on capital              interest-based debt/sukuk and equity.
structure (capital structure policy).    2. Management policies on capital structure (capital structure policies).              290

                                         3. Basis for selection of management policies.                                         290

                                         Explanation of:

                                         1. The name of the party making the bond.                                              292

                                         2. The purpose of the bond.                                                            293
Discussion on material commitments
                                         3. Source of funds expected to fulfill these ties.                                     293
for capital goods investment (not                                                                                                         SEOJK 16
funding commitments) in the last         4. The currency to be denominated.                                                     293
financial year.
                                         5. The steps the company plans to take to protect against risks from
                                                                                                                                293
                                            related foreign currency positions.

                                         Notes: if the company has no ties related to investment in capital goods
                                         in the last financial year to be disclosed.

                                         Explanation of:

                                         1. Types of investment in capital goods.                                               293
Discussion on investment in capital                                                                                                       SEOJK 9
                                         2. The purpose of investing in capital goods.                                          293
goods realized in the last financial                                                                                                      SEOJK 16
year.                                    3. Investment value of capital goods issued in the last financial year.                293

                                         Notes: if there is no realization of investment in capital goods, so that
                                         it is disclosed.

                                         The business prospects of Issuers or Public Companies are linked to
Description of the company’s business    industry conditions, the general economy and international markets                               SEOJK 16
                                                                                                                              296-298
prospects.                               accompanied by quantitative supporting data from reliable data
                                         sources.




                                                                                         PT Bank Tabungan Negara (Persero) Tbk                       741
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                Criteria                                                   Explanation                                      Page       Regulations

                                             Comparison between targets/projections at the beginning of the
                                             financial year with the results achieved (realization), regarding:

                                             1. Sales revenue.                                                             299-300

                                             2. Profit and loss.                                                           299-300

                                             3. Capital structure.                                                          300

                                             4. Marketing.                                                                  300

                                             5. HR Development.                                                            300-301
Comparative information between
targets at the beginning of the              6. Other matters deemed important by the Issuer or Public Company.            298-299
financial year with the results achieved                                                                                             SEOJK 16
                                             Targets/projections to be achieved by Issuers or Public Companies for
(realization), and targets or projections
                                             the next 1 (one) year, regarding:
to be achieved for the
next year.                                   1. Sales revenue.                                                              302

                                             2. Profit and loss.                                                            302

                                             3. Capital structure.                                                          302

                                             4. Dividend policy.                                                           302-303

                                             5. Marketing.                                                                  303

                                             6. HR Development.                                                             304

                                             7. Other matters deemed important by the Issuer or Public Company.            301-302

                                             Marketing aspects of the Issuer’s or Public Company’s goods and/or                      SEOJK 9
Description of the marketing aspect.                                                                                       219-231
                                             services, at least regarding marketing strategy and market share.                       SEOJK 16

                                             Description of dividends for the last 2 (two) financial years, at least:

                                             1. The dividend policy, among other things, contains information on the
                                                                                                                            305
                                                percentage of the amount of dividends distributed to net income.

Description of dividends for the last 2      2. Cash dividend payment date and/or non-cash dividend distribution                     SEOJK 16
                                                                                                                           305-306
(two) financial years.                          date.

                                             3. Amount of dividends per share (cash and/or non-cash).                      305-306

                                             4. The amount of dividends per year paid.                                     305-306

                                             Notes: if there is no distribution of dividends, please state the reasons.

                                             Contains descriptions of:

                                             1. Total proceeds.                                                             306

                                             2. Fund usage plan.                                                            306

                                             3. Details of use of funds.                                                    306

                                             4. Fund balance.                                                               306

Realization of the use of proceeds from      5. The date of approval of the GMS/RUPO for changes in the use of
                                                                                                                              -
the public offering (in the event that the      funds (if any).
                                                                                                                                     SEOJK 16
company is still required to submit a
                                                a. In the event that during the financial year, the Issuer has an
report on the realization of the use of
                                                   obligation to submit a report on the realization of the use of funds,
funds)
                                                   the cumulative realization of the use of proceeds from public
                                                   offerings until the end of the financial year is disclosed.
                                                b. In the event that there is a change in the use of funds as stipulated
                                                   in the Financial Services Authority Regulation regarding the
                                                   report on the realization of the use of funds from a public offering,
                                                   the Issuer shall explain the change.

                                             Note: if you do not have information on the realization of the use of
                                             proceeds from a public offering, please disclose it.




742          PT Bank Tabungan Negara (Persero) Tbk
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                Criteria                                                   Explanation                                       Page       Regulations

                                            Contains descriptions of:

                                            a. Date, value, and transaction object.

                                            b. The name of the party conducting the transaction.

                                            c. Nature of the affiliation relationship (if any).

                                            d. Explanation of the fairness of the transaction.

                                            e. Fulfillment of related provisions.

                                            f. In the event that there is an affiliation relationship, apart from
                                               disclosing the information referred to in number a) through number
                                               f), the Issuer or Public Company also discloses information:

                                               1) The Board of Directors’ statement that affiliated transactions
                                                  have gone through adequate procedures to ensure that affiliated
                                                  transactions are carried out in accordance with generally
                                                  accepted business practices, among others, carried out by
                                                                                                                                      SEOJK 16
                                                  fulfilling the arm’s length principle.

Material information (if any), including       2) The role of the Board of Commissioners and the audit committee
investment, expansion, divestment,                in carrying out adequate procedures to ensure that affiliated
business merger/                                  transactions are carried out in accordance with generally
consolidation,      acquisition,   debt/          accepted business practices, among others, is carried out by
capital      restructuring,      material         fulfilling the arm’s length principle.                                    307-315
transactions, affiliated transactions,
                                            g. For affiliate transactions or material transactions which are business
and conflict of interest transactions.
                                               activities carried out in order to generate business income and are
                                               carried out routinely, repeatedly and/or continuously, an explanation
                                               is added that the affiliated transactions or material transactions are
                                               business activities carried out in order to generate business income
                                               and are carried out routinely, repeatedly, and/or continuously.

                                               In the case of affiliated transactions or material transactions
                                               referred to have been disclosed in the annual financial statements,
                                               information is added regarding references to disclosure in the said
                                               annual financial statements.

                                            h. For disclosure of affiliated transactions and/or conflict of interest
                                               transactions which are the result of the implementation of affiliated
                                               transactions and/or conflict of interest transactions that have
                                               been approved by independent shareholders, information is                              SEOJK 16
                                               added regarding the date of the GMS that approves the affiliated                       SEOJK 13
                                               transactions and/or conflict of interest transactions.

                                            i. In the event that there are no affiliated transactions and/or conflict of
                                               interest transactions, then this is disclosed.

                                            The description contains, among others:

                                            1. The names of the laws and regulations that have changed.                     315-319
Description of changes to laws and
                                            2. The impact (quantitative and/or qualitative) on the company (if                        SEOJK 16
regulations on companies in the last                                                                                        315-319
financial year.                                significant) or the statement that the impact is not significant.

                                            Notes: if there is no change in laws and regulations in the last financial
                                            year, so that it is disclosed.

                                            The description contains, among others:

                                            1. Changes in accounting policies.                                              320-321
Description of changes in accounting
                                                                                                                                      SEOJK 16
policies implemented by the company         2. Reasons for changes in accounting policies.                                    320
in the last financial year.
                                            3. Quantitative impact on financial statements.                                 320-321

                                            Notes: If there is no change in accounting policy in the last financial

                                            Risk exposure and capital includes annual period risk and capital
Information on Risk Exposure and
                                            exposure reports as stipulated in part II of the Publication Report on risk     330-369   SEOJK 9
Capital.
                                            and capital exposure.




                                                                                          PT Bank Tabungan Negara (Persero) Tbk                  743
Page 375
              Criteria                                       Explanation                                    Page       Regulations

GOOD CORPORATE GOVERNANCE

                                Information regarding GMS resolutions in the financial year and 1
                                (one) year before the financial year includes:

                                a. GMS resolutions in the financial year and 1 (one) year prior to the
                                   financial year realized in the financial year.

GMS.                            b. GMS decisions in the financial year and 1 (one) year prior to the       421-434   SEOJK 16
                                   financial year that have not been realized along with the reasons for
                                   not being realized.

                                In the event that an Issuer or Public Company uses an independent
                                party in the implementation of the GMS to carry out the vote count, it
                                shall be disclosed regarding this matter.

                                1. Duties and responsibilities of each member of the Board of Directors.             SEOJK 13
                                   Information regarding the duties and responsibilities of each                     SEOJK 16
                                                                                                           435-438
                                   member of the Board of Directors is described and can be presented                POJK 17
                                   in tabular form.

                                2. Statement that the Board of Directors has a guideline or charter
                                                                                                           439-440   SEOJK 16
                                   (charter) of the Board of Directors.

                                3. Policy and implementation of the frequency of meetings of the
                                   Board of Directors, meetings of the Board of Directors with the of
                                   Commissioners, and the level of attendance of members of the Board
                                   of Directors at these meetings including attendance at the GMS.                   SEOJK 16
                                                                                                           441-459
                                   Information on the level of attendance of members of the Board
                                   of Directors at meetings of the Board of Directors, meetings of the
                                   Board of Directors with the Board of Commissioners or GMS can be
                                   presented in tabular form.

                                4. Training and/or competency improvement for members of the Board
                                   of Directors:

                                  a. Policy on training and/or competency improvement for members
                                                                                                                     SEOJK 16
                                     of the Board of Directors, including an orientation program for       459-463
                                     newly appointed members of the Board of Directors (if any).
Directors.
                                  b. Training and/or competency improvement attended by members
                                     of the Board of Directors in the financial year (if any).

                                5. The Board of Directors’ assessment of the performance of the
                                   committees that support the implementation of the duties of the Board
                                   of Directors in the financial year contains at least:

                                  a. Performance appraisal procedures.
                                                                                                                     SEOJK 16
                                  b. The criteria used include performance achievements during the          464
                                     financial year, competence and attendance at meetings.

                                  In the event that the Issuer or Public Company does not have a
                                  committee that supports the implementation of the duties of the Board
                                  of Directors, this will be disclosed.

                                6. members of the Board of Commissioners who reach 5% (five percent)
                                   or more of paid-up capital, which includes the type and number of
                                   shares in:
                                                                                                                     SEOJK 13
                                   a. The bank in question.                                                504-505
                                                                                                                     POJK 17
                                   b. other banks.
                                   c. Non-bank financial institutions.
                                   d. Other companies domiciled both inside and outside the country.




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                                                                                                            2023 Annual Report




               Criteria                                                Explanation                                      Page       Regulations

                                                                                                                                 SEOJK 13
                                          1. Duties and responsibilities of the Board of Commissioners.                  465     SEOJK 16
                                                                                                                                 POJK 17

                                          2. Statement that the Board of Commissioners has guidelines or charter                 SEOJK 16
                                                                                                                         468
                                             of the Board of Commissioners.

                                          3. Policy and implementation of the frequency of meetings of the Board
                                             of Commissioners, meetings of the Board of Commissioners with the
                                             Board of Directors and the level of attendance of members of the
                                                                                                                                 SEOJK 13
                                             Board of Commissioners at these meetings including attendance at
                                                                                                                       472-482   SEOJK 16
                                             the GMS. Information on the level of attendance of members of the
                                             Board of Commissioners at meetings of the Board of Commissioners,
                                             meetings between the Board of Commissioners and the Board of
                                             Directors, or GMS can be presented in tabular form.
                                          4. Training and/or competency improvement for members of the Board
                                             of Commissioners:
                                            a. Policy on training and/or competency improvement for members of
                                               the Board of Commissioners, including an orientation program for        482-485   SEOJK 16
Board of Commissioners.                        newly appointed members of the Board of Commissioners (if any).
                                            b. Training and/or competency improvement attended by members
                                               of the Board of Commissioners in the financial year (if any).
                                          5. Assessment of the performance of the Board of Directors and the Board
                                             of Commissioners as well as each member of the Board of Directors and
                                             members of the Board of Commissioners, contains at least:
                                            a. Procedure for implementing performance appraisal.                       486-492   SEOJK 16
                                            b. The criteria used include performance achievements during the
                                               financial year, competence and attendance at meetings.
                                            b .The party making the assessment.
                                          6. The Board of Commissioners’ assessment of the performance of
                                             the Committees that support the implementation of the duties of the
                                             Board of Commissioners in the financial year includes:
                                                                                                                                 SEOJK 16
                                                                                                                       493-496
                                            a. Performance appraisal procedures.
                                            b. The criteria used include performance achievements during the
                                               financial year, competence and attendance at meetings.
                                          Least load:
                                          1. Nomination procedures, including a brief description of the policies
                                             and nomination process for members of the Board of Directors and/           497     SEOJK 16
                                             or members of the Board of Commissioners.
                                          2. Procedures and implementation of remuneration for the Board of
                                             Directors and Board of Commissioners, including:
                                            a. Procedure for determining remuneration for the Board of Directors
                                               and Board of Commissioners.
Nomination and remuneration of the
                                            b. Disclosure of indicators for determining the remuneration of the
Board of Directors and Board of
                                               Board of Directors.
Commissioners.
                                            c. The remuneration structure for the Board of Directors and the                     SEOJK 16
                                                                                                                       498-501
                                               Board of Commissioners such as salaries, allowances, bonuses/
                                               bonuses and others; And
                                               Notes: if there are no performance bonuses, non performance
                                               bonuses and stock options received by each member of the Board
                                               of Commissioners and Board of Directors, to be disclosed.
                                             d. The amount of remuneration for each member of the Board of
                                                Directors and members of the Board of Commissioners;
                                          Disclosure of information can be presented in tabular form.

                                          Least load:

                                          a. Name.
Sharia supervisory board, for Issuers     b. The legal basis for the appointment of the Sharia Supervisory Board.
or Public Companies that carry out
business activities based on sharia       c. The assignment period of the Sharia Supervisory Board.                    672-680   SEOJK 16
principles as stated in the articles of   d. Duties and responsibilities of the Sharia Supervisory Board.
association.
                                          e. Frequency and method of providing advice and suggestions as
                                             well as monitoring compliance with sharia principles in the capital
                                             market to Issuers or Public Companies.




                                                                                     PT Bank Tabungan Negara (Persero) Tbk                  745
Page 377
             Criteria                                               Explanation                                       Page       Regulations

                                      1. Name and title in the membership of the committee.

                                      2. Age.

                                      3. Citizenship.

                                      4. Educational background.

                                      5. Position history, including information on:

                                          a. Legal basis for appointment as committee member.                        513-514

                                          b. Concurrent positions, both as members of the Board of                             SEOJK 16
                                             Commissioners, members of the board of directors, and/or                          POJK 17
                                             committee members and other positions (if any).

                                          c. Work experience and time period both inside and outside the
Audit Committee.                             issuer or public company.

                                      6. Period and tenure of audit committee members.

                                      7. Description of duties and responsibilities.                                 510-511

                                      8. Audit committee independence statement.                                      515

                                      9. Training and/or competency improvement that has been attended
                                                                                                                      516
                                         in the financial year (if any).

                                      10. Policy and implementation of the frequency of audit committee
                                          meetings and the level of attendance of audit committee members            517-520   SEOJK 13
                                          at these meetings.                                                                   SEOJK 16
                                      11. Implementation of audit committee activities in the financial year                   POJK 17
                                          according to what is stated in the audit committee guidelines or           520-521
                                          charter.

                                      Least load:

                                      1. Name and title in the membership of the committee.

                                      2. Age.

                                      3. Citizenship.

                                      4. Educational background.

                                      5. Position history, including information on:
                                                                                                                     526-528
                                          a. Legal basis for appointment as committee member.

                                          b. Concurrent positions, both as members of the Board of
                                             Commissioners, members of the board of directors, and/or
                                             committee members and other positions (if any).

                                          c. Work experience and time period both inside and outside the
                                             issuer or public company.

Issuer or Public Company nomination   6. Period and tenure of committee members.
and remuneration committee or                                                                                                  SEOJK 16
                                      7. Committee independence statement.                                           528-529
function.                                                                                                                      POJK 17
                                      8. Training and/or competency improvement that has been attended
                                                                                                                     529-530
                                         in the financial year (if any).

                                      9. Description of duties and responsibilities.                                 522-524

                                      10. Statement that already has a guideline or charter.                          524

                                      11. Policy and implementation of the frequency of meetings and the
                                                                                                                     530-534
                                          level of attendance of members at these meetings.

                                      12. A brief description of the implementation of activities in the financial
                                                                                                                     534-535
                                          year.

                                      In the event that a nomination and remuneration committee is not
                                      formed, it is sufficient for the Issuer or Public Company to disclose the
                                      information referred to in letter i) to letter l) and disclose:

                                      1. The reasons for not forming the committee

                                      2. Parties carrying out nomination and remuneration functions.




746        PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                2023 Annual Report




               Criteria                                                  Explanation                                        Page       Regulations

                                           Least load:

                                           1. Name and title in the membership of the committee.

                                           2. Age.

                                           3. Citizenship.

                                           4. Educational background.

                                           5. Position history, including information on:
                                                                                                                           538-539
                                               a. Legal basis for appointment as committee member.

                                               b. Concurrent positions, both as members of the Board of
Other committees owned by Issuers or              Commissioners, members of the board of directors, and/or
Public Companies in order to                      committee members and other positions (if any).                                    SEOJK 16
support the functions and duties of the
                                               c. Work experience and time period both inside and outside the                        POJK 17
Board of Directors (if any) and/
or committees that support the functions          issuer or public company.
and duties of the Board of                 6. Period and tenure of committee members.
Commissioners.
                                           7. Committee independence statement.                                              539

                                           8. Training and/or competency improvement that has been attended
                                                                                                                           540-541
                                              in the financial year (if any).

                                           9. Description of duties and responsibilities.                                    536

                                           10. Statement that already has a guideline or charter.                            537

                                           11. Policy and implementation of the frequency of meetings and the
                                                                                                                           541-545
                                               level of attendance of members at these meetings.

                                           12. A brief description of the implementation of activities in the financial
                                                                                                                           545-547
                                               year.

                                           1. Name.

                                           2. domicile.

                                           3. Position history, including:

                                              a. Legal basis for appointment as company secretary.                         548-549

                                              b. Work experience and time period both inside and outside the                         SEOJK 16
Company secretary.                               issuer or public company.

                                           4. Educational background.

                                           5. Training and/or competency improvement attended in the financial
                                                                                                                           549-550
                                              year.

                                           6. Brief description of the implementation of the duties of the corporate
                                                                                                                           550-557
                                              secretary in the financial year.

                                           1. Name of the head of the internal audit unit.

                                           2. Position history, including:

                                               a. Legal basis for appointment as company secretary.
                                                                                                                             559
                                               b. Work experience and time period both inside and outside the
                                                  issuer or public company.

                                           3. Qualification or certification as internal audit profession (if any).

                                           4. Number of employees (internal auditors) in the internal audit unit.            567
                                                                                                                                     SEOJK 16
Internal Audit Unit.                       5. Training and/or competency improvement attended in the financial                       POJK 17
                                                                                                                           561-563
                                              year.

                                           6. The structure and position of the internal audit unit.                         558

                                           7. Description of duties and responsibilities.                                  559-560

                                           8. A statement that the internal audit unit has guidelines or charters.           559

                                           9. A brief description of the implementation of the duties of the
                                              internal audit unit in the financial year including the policy and
                                                                                                                           564-568
                                              implementation of the frequency of meetings with the directors,
                                              board of commissioners and/or the audit committee.




                                                                                         PT Bank Tabungan Negara (Persero) Tbk                  747
Page 379
              Criteria                                                 Explanation                                    Page       Regulations

                                         1. The name and year of the public accountant who audited the annual
                                            financial statements for the last 5 years.

                                         2. The name and year of the public accountant who audited the annual
                                            financial statements for the last 5 years.

                                         3. The amount of the fee for each type of service provided by the Public
Public Accountant.                                                                                                    605      POJK 17
                                            Accounting Firm in the last financial year.

                                         4. Other services provided by the Public Accounting Firm and public
                                            accountants in addition to auditing the annual financial statements
                                            for the last financial year.

                                         Notes: if there is no other service in question, so that it is disclosed.

                                         1. Financial and operational control, as well as compliance with other                SEOJK 13
                                                                                                                     606-608
                                            laws and regulations.                                                              SEOJK 16
Description of the internal control
system implemented by the issuer or      2. Review of the effectiveness of the internal control system.               609
public company.
                                         3. Statement of the Board of Directors and/or Board of Commissioners
                                                                                                                      610      SEOJK 16
                                            regarding the adequacy of the internal control system.

                                         1. General description of the Issuer’s or Public Company’s risk
                                                                                                                     611-615
                                            management system.
                                                                                                                               SEOJK 16
                                         2. Types of risk and how to manage them.                                    616-624   SEOJK 13
Risk management system
implemented by Issuers or Public         3. Review of the effectiveness of the Issuer’s or Public Company’s risk
                                                                                                                      626
Companies.                                  management system.

                                         4. Statement of the Board of Directors and/or Board of Commissioners
                                            or the audit committee on the adequacy of the risk management            626-627   SEOJK 16
                                            system.

                                         The level of the Bank’s compliance with all provisions and laws and
                                                                                                                               SEOJK 13
Compliance function.                     regulations as well as fulfillment of commitments with the competent        627-635
                                                                                                                               POJK 17
                                         authorities.

                                         1. Main case/lawsuit.

                                         2. Case/lawsuit settlement status.                                                    SEOJK 16

                                         3. The impact on the condition of issuers or public companies. The risks
Legal cases with a material impact          faced by the company and the nominal value of claims/lawsuits.
faced by issuers or public companies,
subsidiaries, members of the board of    4. Disclosure regarding legal issues at least includes:                     637-638
directors and members of the board of       a. the number of civil and criminal cases faced and decisions that
commissioners (if any).                        have permanent legal force.
                                            b. the number of civil and criminal matters faced and still in the
                                                                                                                               SEOJK 13
                                               process of being resolved.
                                            Notes: in the event that the company, subsidiaries, members of the
                                            Board of Commissioners and members of the Board of Directors do
                                            not have important matters, this must be disclosed.

Information       on    administrative
sanctions/sanctions    imposed      on
issuers or public companies, board
members commissioners and members                                                                                              SEOJK 16
                                                                                                                      638
of the board of directors, by the
Financial Services Authority
and other authorities in the financial
year (if any).

                                         1. Principles of the code of ethics.                                         650

                                         2. Forms of dissemination of the code of ethics and enforcement efforts      651
Information regarding the code of                                                                                              SEOJK 16
ethics of Issuers or Public Companies    3. Statement that the code of ethics applies to members of the Board of
                                            Directors, members of the Board of Commissioners, and employees           651
                                            of the Issuer or Public Company

                                         1. Remuneration Committee
                                            a. Name of members, composition, duties and responsibilities.
Implementation of Governance in
                                            b. Number of meetings held.                                               597      POJK 45
Providing Remuneration for Banks.
                                            c. Remuneration that has been paid to members of the Remuneration
                                               Committee for 1 (one) year.




748         PT Bank Tabungan Negara (Persero) Tbk
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                                                                             2023 Annual Report




Criteria                                Explanation                                      Page     Regulations

           2.   Remuneration policy formulation process which includes:
                a. Review of the background and objectives of the Remuneration
                   policy.
                b. Implementation of a review of the Remuneration policy in the           598
                   previous year, along with its improvements.
                c. Mechanism to ensure that Remuneration for Employees in the
                   control unit is independent from the work unit they supervise.

                3.   Remuneration policy coverage and its implementation per
                     business unit, per region and in subsidiaries or branch offices      598
                     located overseas

           4.   Remuneration is associated with risks that include:
                a. The main type of risk (key risk) used in implementing
                   Remuneration.
                b. Criteria for determining the main types of risk, including for
                   risks that are difficult to measure.                                   598
                c. The impact of determining the main risk on the Variable
                   Remuneration policy.
                d. Changes in the determination of the main types of risk
                   compared to last year and the reasons, if any.

           5.   Performance measurement is associated with Remuneration which
                includes:
                a. Review of Remuneration policies linked to performance appraisal.
                b. The method of linking individual Remuneration with Bank
                     performance, work unit performance and individual performance.       598
                c. A description of the method used by the Bank to state that the
                     agreed performance cannot be achieved, so it is necessary
                     to make adjustments to remuneration and the amount of
                     remuneration adjustments if this condition occurs.

           6.   Remuneration Adjustment is related to Performance and Risk which
                includes:
                a. Policy regarding Variable Remuneration that is deferred, the
                     amount, and the criteria for determining the amount.               598-599
                b. The Bank’s policy regarding Variable Deferred Remuneration
                     which is postponed for payment (malus), or withdrawn when
                     it has been paid (clawback).

           7.   The name of the external consultant and the duties of the consultant
                related to the Remuneration policy, if the Bank uses the services of      599
                an external consultant

           8.   The Remuneration Package and facilities received by the Board of
                Directors and Board of Commissioners include the Remuneration           599-600
                structure and details of the nominal amount.

           9.   Variable Remuneration includes:
                a. Forms of Variable Remuneration along with the reasons for
                     choosing this form. And
                                                                                          600
                b. An explanation if there are differences in the provision
                     of Variable Remuneration among the Directors, Board of
                     Commissioners and/or Employees.

           10. the number of Directors, Board of Commissioners and Employees who
                                                                                          600
               receive Variable Remuneration for 1 (one) year, and the total amount.

           11. Position and number of parties who are material risk takers.               600

           12. Shares optionowned by the Board of Directors, Board of
                                                                                        600-603
               Commissioners and Executive Officers.

           13. The ratio of the highest and lowest salaries                               603

           14. The number of beneficiaries and the total amount of Variable
               Remuneration guaranteed unconditionally will be given by the
               Bank to candidates for the Board of Directors, candidates for the          603
               Board of Commissioners, and/or prospective Employees during
               the first 1 (one) year of work

           15. The number of employees affected by termination of employment
                                                                                          603
               and the total amount of severance paid

           16. The total amount of deferred Variable Remuneration, which consists of
                                                                                          603
               cash and/or shares or share-based instruments issued by the Bank.

           17. The total amount of deferred Variable Remuneration paid for 1
                                                                                          603
               (one) year.




                                                       PT Bank Tabungan Negara (Persero) Tbk              749
Page 381
               Criteria                                                  Explanation                                 Page       Regulations

                                          18. Details of the amount of Remuneration given in one year include:
                                              a. Fixed or variable remuneration.
                                              b. Deferred and non-deferred remuneration.                             603
                                              c. Forms of Remuneration provided in cash and/or shares or
                                                  share-based instruments issued by the Bank.

                                          19. Quantitative information about:
                                              a. The total remaining Remuneration that is still suspended, both
                                                 exposed to implicit and explicit adjustments.
                                              a. Total reduction in Remuneration caused by explicit adjustments      603
                                                 during the reporting period.
                                              b. Total reduction in Remuneration caused by implicit adjustments
                                                 during the reporting period.

A brief description of the policy of      In terms of compensation in the form of management stock ownership
providing performance-based longterm      program (MSOP) and/or employee stock ownership program (ESOP).
compensation to management                The information disclosed shall contain at least:
and/or employees owned by issuers
                                          1. Number of shares and/or options.
or public companies (if any), including                                                                                       SEOJK 16
                                                                                                                    652-653
but not limited to                        2. Implementation period.
management         stock     ownership
programs program ownership/MSOP)          3. Eligible employee and/or management requirements.
and/or employee stock ownership
program (ESOP).                           4. The exercise price or the determination of the exercise price.

                                          1. Share ownership of members of the Board of Directors and members
                                             of the Board of Commissioners no later than 3 (three) working days
A brief description of the Information       after the ownership or any change in ownership of the shares of the    505-507   SEOJK 16
disclosure policy regarding                  Public Company.

                                          2. Implementation of the intended policy.

                                          1. How to submit a violation report.                                       653

                                          2. Protection for reporters.                                               653

                                          3. The handling of complaints.                                            653-660

                                          4. The party managing the complaint.                                       661
Description of the whistleblowing         5. The results of handling complaints, at least:                                    SEOJK 16
system at the Issuer or Public Company.
                                            a. Number of complaints received and processed in the financial
                                               year.
                                                                                                                     661
                                            b. Complaint follow-up.

                                          In the event that an issuer or a public company does not have a
                                          whistleblowing system, this will be disclosed.

                                          1. Programs and procedures carried out in Overcoming corrupt
                                             practices, kickbacks, fraud, bribery and/or gratuities in Issuers or   662-666
                                             Public Companies.

Description of the Issuer’s or Public     2. Anti-corruption training/socialization for employees of Issuers or               SEOJK 16
                                                                                                                    666-668
Company’s anti-corruption policy.            Public Companies.                                                                POJK 17

                                          In the event that the Issuer or Public Company does not have an
                                          anticorruption policy, the reasons for not having the said policy will
                                          be explained.

                                                                                                                              SEOJK 13
Handling conflicts of interest                                                                                       670
                                                                                                                              POJK 17

Provision of funds to related parties     Information that needs to be disclosed is the total amount of debit
and provision of large funds (large       balances for provision of funds to related parties and to core debtors    669-670   SEOJK 13
exposure).                                (individuals or groups) per report position

Transparency of the Bank’s financial
                                                                                                                              SEOJK 13
and non-financial conditions that have                                                                               670
                                                                                                                              POJK 17
not been disclosed in other reports.

Other information related to Bank
Governance, including owner
intervention, internal disputes or                                                                                   670      SEOJK 13
problems that arise as a result of
remuneration policies at the Bank.




750          PT Bank Tabungan Negara (Persero) Tbk
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                                                                                                                2023 Annual Report




               Criteria                                                  Explanation                                        Page       Regulations

                                           Disclosure of irregularities (internal fraud) at least includes:
                                           1. Number of deviations (internal fraud) that have been resolved.
                                           2. The number of irregularities (internal fraud) that are in the process of
                                              being resolved internally at the bank.
Number of Deviations (Internal Fraud).                                                                                       669     SEOJK 13
                                           3. Number of irregularities (internal fraud) that have not been resolved
                                              internally at the bank.
                                           4. The number of irregularities (internal fraud) that have been followed
                                              up through the legal process.

                                           1. Policy in buying back shares or bonds of the Bank.
Buy Back of Shares and/or Bank             2. Number of shares and/or bonds bought back.
                                                                                                                             670     SEOJK 13
Bonds.                                     3. Repurchase price per share and/or bond.
                                           4. Increase in earnings per share and/or bonds.

Provision of Funds for Social Activities   Disclosure regarding the provision of funds for social activities and/
and/or Political Activities During the     or political activities at least includes the recipient of the funds and the      669     SEOJK 13
Reporting Period.                          amount of funds provided.

Implementation of sustainable finance,
including implementation of social and                                                                                       670     POJK 17
environmental responsibility

                                           1. Statement regarding recommendations that have been implemented
                                              and/or
Implementation of Public Company
governance guidelines for Issuers          2. Explanation of recommendations that have not been implemented,
                                                                                                                           684-692   SEOJK 16
that issue equity securities or Public        accompanied by reasons and alternatives for implementation (if
Companies.                                    any).

                                           Disclosure of information can be presented in tabular form.

SOCIAL AND ENVIRONMENTAL RESPONSIBILITY OF THE ISSUER OR PUBLIC COMPANY

                                           1.   The information disclosed in the social and environmental
                                                responsibility section is a Sustainability Report as intended
                                                in Financial Services Authority Regulation Number 51/
Corporate Social Responsibility                                                                                                      SEOJK 16
                                                POJK.03/2017 concerning the Implementation of Sustainable
                                                Finance for Financial Services Institutions, Issuers and Public
                                                Companies, containing at least :

                                                a)   Explanation of sustainability strategy.

                                                b)   Overview of sustainability aspects (economic, social and
                                                     environmental).

                                                c)   Brief profile of the Issuer or Public Company.

                                                d)   Directors’ Explanation.

                                                e)   Sustainability governance.

                                                f)   Sustainability performance.
                                                                                                                           710-732
                                                g)   Written verification from an independent party, if any.

                                                h)   Feedback sheet for readers, if any.

                                                i)   The Issuer’s or Public Company’s response to feedback from
                                                     the previous year’s report.

                                           2.   Sustainability Report as referred to in number 1), must be prepared
                                                in accordance with the Technical Guidelines for Preparing
                                                Sustainability Reports for Issuers and Public Companies as stated
                                                in Appendix II which is an inseparable part of this Financial
                                                Services Authority Circular Letter.

                                           3.   Sustainability Report information in number 1) can:

                                                a)   Disclosed in other relevant sections outside the social and
                                                     environmental responsibility section, such as the Directors’
                                                     explanation regarding the Sustainability Report disclosed in
                                                     the relevant section of the Directors’ Report; and/or




                                                                                         PT Bank Tabungan Negara (Persero) Tbk                  751
Page 383
            Criteria                                          Explanation                                   Page   Regulations

                                      b)   Refer to other sections outside the social and environmental
                                           responsibility section while still referring to the Technical
                                           Guidelines for Preparing Sustainability Reports for Issuers
                                           and Public Companies as listed in Appendix II which is an
                                           inseparable part of this Financial Services Authority Circular
                                           Letter, such as the profile Issuer or Public Company.

                                 4.   The Sustainability Report as referred to in number 1) is an
                                      inseparable part of the Annual Report but can be presented
                                      separately from the Annual Report.

                                 5.   In the event that the Sustainability Report is presented separately
                                      from the Annual Report, the information disclosed in the
                                      Sustainability Report must:

                                      a)   Contains all information as intended in number 1); And

                                      b)   Prepared in accordance with the Technical Guidelines
                                           for Preparing Sustainability Reports for Issuers and Public
                                           Companies as stated in Appendix II which is an inseparable
                                           part of this Financial Services Authority Circular Letter.

                                 6.   If the Sustainability Report is presented separately from the
                                      Annual Report, then the social and environmental responsibility
                                      section contains information that information regarding social
                                      and environmental responsibility has been disclosed in the
                                      Sustainability Report which is presented separately from the
                                      Annual Report.

                                 7.   Submission of a Sustainability Report which is presented separately
                                      with the Annual Report must be submitted simultaneously with the
                                      submission of the Annual Report.




Information

SEOJK 16   : OJK Circular Letter No. 16/SEOJK.04/2021 concerning Form and Content of Annual Reports of Issuers or Public
             Companies.
SEOJK 9    : OJK Circular Letter No. 9/SEOJK.03/2020 concerning Transparency and Publication of Conventional Commercial Bank
             Reports.
SEOJK 13     OJK Circular Letter No. 13/SEOJK.03/2017 concerning Implementation of Governance for Commercial Banks.
POJK 45    : OJK Regulation No. 45/POJK.03/2015 concerning Implementation of Governance in Providing Remuneration for
             Commercial Banks.
POJK 17    : OJK Regulation 17 of 2023 concerning the Implementation of Governance for Commercial Banks




752        PT Bank Tabungan Negara (Persero) Tbk
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                                        2023 Annual Report




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                          PT Bank Tabungan Negara (Persero) Tbk   753
Page 385
PT Bank Tabungan Negara (Persero) Tbk

Laporan keuangan
Tanggal 31 Desember 2023
dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen/
Financial statements
As of December 31, 2023
and for the year then ended
with independent auditor’s report
Page 386

          
Page 387
                                                                                      The original financial statements included herein are in the
                                                                                                                            Indonesian language.

   PT BANK TABUNGAN NEGARA (PERSERO) TBK                                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
              LAPORAN KEUANGAN                                                                 FINANCIAL STATEMENTS
        TANGGAL 31 DESEMBER 2023 DAN                                                       AS OF DECEMBER 31, 2023 AND
         UNTUK TAHUN YANG BERAKHIR                                                          FOR THE YEAR THEN ENDED
            PADA TANGGAL TERSEBUT                                                       WITH INDEPENDENT AUDITORS’ REPORT
     BESERTA LAPORAN AUDITOR INDEPENDEN


                               Daftar Isi                                                                 Table of Contents




                                                                    Halaman/Page


Laporan Auditor Independen                                                                                        Independent Auditor’s Report

Laporan Posisi Keuangan..............................................     1-6     .................................. Statement of Financial Position

Laporan Laba Rugi dan Penghasilan                                                                                   Statement of Profit or Loss
    Komprehensif Lain .................................................   7-9     ...................... and Other Comprehensive Income

Laporan Perubahan Ekuitas .......................................... 10 - 11 ................................. Statement of Changes in Equity

Laporan Arus Kas ......................................................... 12 - 14 ........................................... Statement of Cash Flows

Catatan Atas Laporan Keuangan ................................... 15 - 287 .............................. Notes to the Financial Statements



                                                              ***************************
Page 388
                                                              The original report included herein is in the Indonesian
                                                                                                             language.



Laporan Auditor Independen                              Independent Auditor’s Report

Laporan No. 00048/2.1032/AU.1/07/1681-                  Report    No.       00048/2.1032/AU.1/07/1681-
1/1/II/2024                                             1/1/II/2024


Pemegang Saham, Dewan Komisaris, dan                    The Shareholders, the Board of Commissioners,
Direksi                                                 and the Board of Directors
PT Bank Tabungan Negara (Persero) Tbk.                  PT Bank Tabungan Negara (Persero) Tbk.

Opini                                                   Opinion

Kami telah mengaudit laporan keuangan PT Bank           We have audited the accompanying financial
Tabungan Negara (Persero) Tbk. (“Bank”)                 statements of PT Bank Tabungan Negara
terlampir, yang terdiri dari laporan posisi             (Persero) Tbk. (the “Bank”), which comprise the
keuangan tanggal 31 Desember 2023, serta                statement of financial position as of December 31,
laporan laba rugi dan penghasilan komprehensif          2023, and the statement of profit or loss and
lain, laporan perubahan ekuitas, dan laporan            other comprehensive income, statement of
arus kas untuk tahun yang berakhir pada tanggal         changes in equity, and statement of cash flows for
tersebut, serta catatan atas laporan keuangan,          the year then ended, and notes to the financial
termasuk     informasi   kebijakan    akuntansi         statements, including material accounting policy
material.                                               information.

Menurut opini kami, laporan keuangan terlampir          In our opinion, the accompanying financial
menyajikan secara wajar, dalam semua hal yang           statements present fairly, in all material respects,
material, posisi keuangan Bank tanggal                  the financial position of the Bank as of
31 Desember 2023, serta kinerja keuangan dan            December 31, 2023, and its financial
arus kasnya untuk tahun yang berakhir pada              performance and cash flows for the year then
tanggal tersebut, sesuai dengan Standar                 ended, in accordance with Indonesian Financial
Akuntansi Keuangan di Indonesia.                        Accounting Standards.

Basis opini                                             Basis for opinion

Kami melaksanakan audit kami berdasarkan                We conducted our audit in accordance with
Standar Audit yang ditetapkan oleh Institut             Standards on Auditing established by the
Akuntan Publik Indonesia (“IAPI”). Tanggung             Indonesian      Institute  of   Certified   Public
jawab kami menurut standar tersebut diuraikan           Accountants (“IICPA”). Our responsibilities under
lebih lanjut dalam paragraf Tanggung Jawab              those standards are further described in the
Auditor terhadap Audit atas Laporan Keuangan            Auditor’s Responsibilities for the Audit of the
pada laporan kami. Kami independen terhadap             Financial Statements paragraph of our report. We
Bank berdasarkan ketentuan etika yang relevan           are independent of the Bank in accordance with
dalam audit kami atas laporan keuangan di               the ethical requirements relevant to our audit of
Indonesia, dan kami telah memenuhi tanggung             the financial statements in Indonesia, and we have
jawab etika lainnya berdasarkan ketentuan               fulfilled our other ethical responsibilities in
tersebut. Kami yakin bahwa bukti audit yang telah       accordance with such requirements. We believe
kami peroleh adalah cukup dan tepat untuk               that the audit evidence we have obtained is
menyediakan suatu basis bagi opini kami.                sufficient and appropriate to provide a basis for
                                                        our opinion.


                                                    i
Page 389

          
Page 390

          
Page 391

          
Page 392

          
Page 393

          
Page 394

          
Page 395

          
Page 396

          
Page 397
                                                                             The original financial statements included herein are in the
                                                                                                                   Indonesian language.

   PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
          LAPORAN POSISI KEUANGAN                                              STATEMENT OF FINANCIAL POSITION
            Tanggal 31 Desember 2023                                                 As of December 31, 2023
         (Disajikan dalam jutaan Rupiah,                                         (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                unless otherwise stated)


                                       31 Desember/         Catatan/          31 Desember/
                                    December 31, 2023        Notes          December 31, 2022

ASET                                                                                                                           ASSETS

KAS                                         2.127.489        2a,2e,4                1.661.533                                     CASH

                                                              2a,2e,                                          CURRENT ACCOUNTS
GIRO PADA BANK INDONESIA                   18.145.761          2g,5                25.416.941               WITH BANK INDONESIA

                                                                                                               CURRENT ACCOUNTS
GIRO PADA BANK LAIN                                           2a,2d                                            WITH OTHER BANKS
  Pihak ketiga                              1.153.949        2e,2f,2g                 963.935                          Third parties
  Pihak berelasi                            1.049.449          6,43                   508.322                        Related parties

                                            2.203.398                               1.472.257
  Cadangan kerugian                                                                                                     Allowance for
    penurunan nilai                            (1.804)                                 (1.747)                    impairment losses

                                            2.201.594                               1.470.510


PENEMPATAN PADA BANK                                          2a,2d                                    PLACEMENTS WITH BANK
 INDONESIA DAN BANK LAIN                                    2e,2h,7,43                            INDONESIA AND OTHER BANKS
  Pihak ketiga                             30.561.061                              12.975.894                      Third parties
  Pihak berelasi                                   61                                      61                    Related parties

                                           30.561.122                              12.975.955



EFEK-EFEK                                                     2a,2d,                                                     SECURITIES
  Pihak ketiga                              1.454.768        2e,2f,2i,                873.109                            Third parties
  Pihak berelasi                            3.851.105          8,43                   850.059                          Related parties

                                            5.305.873                               1.723.168
  Cadangan kerugian                                                                                                     Allowance for
    penurunan nilai                           (22.903)                                 (2.399)                    impairment losses

                                            5.282.970                               1.720.769



OBLIGASI PEMERINTAH                                          2a,2d,                                            GOVERNMENT BONDS
  Pihak berelasi                           35.893.929       2e,2i,9,43             51.964.973                       Related parties



EFEK-EFEK YANG DIBELI DENGAN                                    2e                                SECURITIES PURCHASED UNDER
 JANJI DIJUAL KEMBALI                                       2f, 2u,10                                  AGREEMENT TO RESELL
  Pihak ketiga                                       -                              1.434.190                      Third parties




 Catatan atas laporan keuangan terlampir merupakan bagian                The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                          integral part of these financial statements
                        keseluruhan.                                                          taken as a whole.


                                                                1
Page 398
                                                                            The original financial statements included herein are in the
                                                                                                                  Indonesian language.


   PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
      LAPORAN POSISI KEUANGAN (lanjutan)                                  STATEMENT OF FINANCIAL POSITION (continued)
            Tanggal 31 Desember 2023                                                 As of December 31, 2023
         (Disajikan dalam jutaan Rupiah,                                         (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                unless otherwise stated)


                                       31 Desember/          Catatan/        31 Desember/
                                    December 31, 2023         Notes         December 31, 2022

ASET (lanjutan)                                                                                                  ASSETS (continued)

KREDIT YANG DIBERIKAN
 DAN PEMBIAYAAN/                                             2d,2e,2f,                                       LOANS AND SHARIA
 PIUTANG SYARIAH                                            2j,2k,11,43                                FINANCING/RECEIVABLES
  Kredit yang diberikan                                                                                                   Loans
    Pihak ketiga                          268.898.377                            247.217.823                      Third parties
    Pihak berelasi                         27.685.483                             19.439.742                    Related parties

                                          296.583.860                            266.657.565
  Cadangan kerugian                                                                                                    Allowance for
    penurunan nilai                       (14.191.536)                           (14.104.914)                    impairment losses

                                          282.392.324                            252.552.651

  Pembiayaan/piutang syariah                                                                             Sharia financing/receivables
    Pihak ketiga                           37.027.078                             31.367.082                           Third parties
    Pihak berelasi                             87.203                                257.057                        Related parties

                                           37.114.281                             31.624.139
  Cadangan kerugian                                                                                                    Allowance for
    penurunan nilai                        (1.400.428)                            (1.570.009)                    impairment losses

                                           35.713.853                             30.054.130

                                          318.106.177                            282.606.781


TAGIHAN DERIVATIF                                               2e                                      DERIVATIVE RECEIVABLES
  Pihak ketiga                                 32.176         2an,12                 103.939                        Third parties

TAGIHAN AKSEPTASI                                            2d,2e,2f                               ACCEPTANCES RECEIVABLES
  Pihak ketiga                                475.821        2l,13,43                289.206                     Third parties
  Pihak berelasi                               68.746                                131.356                   Related parties

                                              544.567                                420.562
  Cadangan kerugian                                                                                                    Allowance for
    penurunan nilai                           (23.876)                                  (136)                    impairment losses

                                              520.691                                420.426


ASET TETAP                                                    2n,2o,                                   PREMISES AND EQUIPMENT
  Biaya perolehan/nilai revaluasi         12.953.746          14,34               10.599.848                Cost/revaluation value
  Akumulasi penyusutan                     (4.835.934)                             (4.246.045)           Accumulated depreciation

                                            8.117.812                              6.353.803


BUNGA YANG MASIH AKAN
 DITERIMA                                  11.526.687         2e,15               10.750.302               INTEREST RECEIVABLES


ASET PAJAK                                                                                                           DEFERRED TAX
 TANGGUHAN - NETO                           2.998.282         2ag,38               2.915.428                         ASSETS - NET

                                                              2e,2p,
ASET LAIN-LAIN                              3.235.046       2q,2am,16              2.352.762                         OTHER ASSETS

TOTAL ASET                                438.749.736                            402.148.312                         TOTAL ASSETS




 Catatan atas laporan keuangan terlampir merupakan bagian               The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                         integral part of these financial statements
                        keseluruhan.                                                         taken as a whole.


                                                                2
Page 399
                                                                            The original financial statements included herein are in the
                                                                                                                  Indonesian language.

   PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
      LAPORAN POSISI KEUANGAN (lanjutan)                                STATEMENT OF FINANCIAL POSITION (continued)
            Tanggal 31 Desember 2023                                               As of December 31, 2023
         (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                              unless otherwise stated)


                                      31 Desember/           Catatan/        31 Desember/
                                    December 31, 2023         Notes        December 31, 2022


LIABILITAS, DANA SYIRKAH                                                                                LIABILITIES, TEMPORARY
  TEMPORER DAN EKUITAS                                                                              SYIRKAH FUNDS AND EQUITY

LIABILITAS                                                                                                                LIABILITIES

LIABILITAS SEGERA                           3.277.514        2e,2r,17              3.205.358        LIABILITIES DUE IMMEDIATELY

SIMPANAN DARI NASABAH                                       2d,2e,2s,43                             DEPOSITS FROM CUSTOMERS
Giro                                                            18                                              Demand deposits
  Pihak ketiga                             20.957.283                             17.636.481                      Third parties
  Pihak berelasi                          108.412.008                             87.264.437                    Related parties

                                          129.369.291                            104.900.918


Giro Wadiah                                                     18                                           Wadiah demand deposits
  Pihak ketiga                              2.402.428                              1.783.134                          Third parties
  Pihak berelasi                           11.037.037                              6.841.675                        Related parties

                                           13.439.465                              8.624.809

                                          142.808.756                            113.525.727


Tabungan                                                        19                                                    Saving deposits
  Pihak ketiga                             37.029.999                             35.656.990                           Third parties
  Pihak berelasi                              692.162                                525.339                         Related parties

                                           37.722.161                             36.182.329


Tabungan Wadiah                                                 19                                             Wadiah saving deposits
  Pihak ketiga                              1.274.456                              1.192.775                           Third parties
  Pihak berelasi                                2.136                                    943                        Related parties

                                            1.276.592                              1.193.718

                                           38.998.753                             37.376.047


Deposito berjangka                                              20                                                      Time deposits
  Pihak ketiga                             63.976.056                             66.808.185                           Third parties
  Pihak berelasi                           76.717.583                             79.389.842                         Related parties

                                          140.693.639                            146.198.027

Total simpanan dari nasabah               322.501.148                            297.099.801            Total deposits from customers




 Catatan atas laporan keuangan terlampir merupakan bagian               The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                         integral part of these financial statements
                        keseluruhan.                                                         taken as a whole.


                                                                3
Page 400
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

  PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
     LAPORAN POSISI KEUANGAN (lanjutan)                                  STATEMENT OF FINANCIAL POSITION (continued)
           Tanggal 31 Desember 2023                                                 As of December 31, 2023
        (Disajikan dalam jutaan Rupiah,                                         (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                unless otherwise stated)


                                      31 Desember/          Catatan/        31 Desember/
                                    December 31, 2023        Notes        December 31, 2022

                                                                                                         LIABILITIES, TEMPORARY
LIABILITAS, DANA SYIRKAH                                                                                    SYIRKAH FUNDS AND
  TEMPORER DAN EKUITAS (lanjutan)                                                                             EQUITY (continued)

SIMPANAN DARI BANK LAIN                                       2e,2t,                             DEPOSITS FROM OTHER BANKS
  Pihak ketiga                                 91.312          21                   136.408                     Third parties


LIABILITAS AKSEPTASI                                        2d,2e,2l                                     ACCEPTANCES PAYABLE
  Pihak ketiga                                320.522        22,43                  302.037                       Third parties
  Pihak berelasi                              224.045                               118.525                     Related parties

                                              544.567                               420.562



SURAT-SURAT BERHARGA
  YANG DITERBITKAN                                          1c,2d, 2e,                                         SECURITIES ISSUED
  Pihak ketiga                              2.403.573       2v,23,43              4.297.252                         Third parties
  Pihak berelasi                            5.868.525                             4.355.008                       Related parties

                                            8.272.098                             8.652.260



PINJAMAN YANG DITERIMA                                      2d,2e,2w,                                          FUND BORROWINGS
  Pihak ketiga                             11.308.799         24,43               7.365.320                          Third parties
  Pihak berelasi                           22.453.290                            17.455.685                        Related parties

                                           33.762.089                            24.821.005



BUNGA YANG MASIH
 HARUS DIBAYAR                                647.496         2e,26                 629.366                    INTEREST PAYABLE

                                                                                                           ESTIMATED LOSSES ON
ESTIMASI KERUGIAN KOMITMEN                                  2d,2e,2af                                            COMMITMENTS
  DAN KONTINJENSI                               3.580       27,39,43                  4.719                 AND CONTINGENCIES

LIABILITAS IMBALAN KERJA                                    2d,2e,2ae                                  EMPLOYEE BENEFITS AND
  DAN LAIN-LAIN                             2.951.848        28,40,43             7.248.985                OTHER LIABILITIES

PINJAMAN SUBORDINASI                                                                                        SUBORDINATED LOAN
  DAN EFEK-EFEK SUBORDINASI                                 2d,2e,2x                                           AND SECURITIES
    Pihak ketiga                            4.612.840        25,43                4.658.242                        Third parties
    Pihak berelasi                          4.499.997                             4.499.977                      Related parties

                                            9.112.837                             9.158.219

TOTAL LIABILITAS                          381.164.489                           351.376.683                      TOTAL LIABILITIES




 Catatan atas laporan keuangan terlampir merupakan bagian              The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                        integral part of these financial statements
                        keseluruhan.                                                        taken as a whole.


                                                                4
Page 401
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

   PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
      LAPORAN POSISI KEUANGAN (lanjutan)                                STATEMENT OF FINANCIAL POSITION (continued)
            Tanggal 31 Desember 2023                                               As of December 31, 2023
         (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                              unless otherwise stated)


                                      31 Desember/          Catatan/        31 Desember/
                                    December 31, 2023        Notes        December 31, 2022

                                                                                                         LIABILITIES, TEMPORARY
LIABILITAS, DANA SYIRKAH                                                                                    SYIRKAH FUNDS AND
  TEMPORER DAN EKUITAS (lanjutan)                                                                             EQUITY (continued)

DANA SYIRKAH TEMPORER                                                                               TEMPORARY SYIRKAH FUNDS


SIMPANAN NASABAH                                            2d,2e,2aa                              DEPOSITS FROM CUSTOMERS
  Giro Mudharabah                                             43,18                                  Mudharabah current accounts
    Pihak ketiga                              712.587                               468.889                       Third parties
    Pihak berelasi                             13.474                                11.897                    Related parties

                                              726.061                               480.786


  Tabungan Mudharabah                                          19                                       Mudharabah saving deposits
    Pihak ketiga                            5.331.249                             4.730.686                         Third parties
    Pihak berelasi                            141.993                                88.427                      Related parties

                                            5.473.242                             4.819.113


  Deposito berjangka Mudharabah                                20                                          Mudharabah time deposits
    Pihak ketiga                           11.975.188                            11.886.366                         Third parties
    Pihak berelasi                          8.908.369                             7.637.191                       Related parties

                                           20.883.557                            19.523.557

Total simpanan nasabah                     27.082.860                            24.823.456            Total deposits from customers



SIMPANAN DARI BANK LAIN                                      2e,2aa                              DEPOSITS FROM OTHER BANKS
  Giro Mudharabah                                              21                                    Mudharabah current accounts
    Pihak ketiga                                4.154                                    56                       Third parties

  Tabungan Mudharabah                                          21                                       Mudharabah saving deposits
    Pihak ketiga                               14.781                                19.674                         Third parties

  Deposito berjangka Mudharabah                                21                                          Mudharabah time deposits
    Pihak ketiga                                4.300                                19.089                         Third parties

Total simpanan dari bank lain                  23.235                                38.819           Total deposits from other banks

TOTAL DANA SYIRKAH                                                                                             TOTAL TEMPORARY
   TEMPORER                                27.106.095                            24.862.275                     SYIRKAH FUNDS




 Catatan atas laporan keuangan terlampir merupakan bagian              The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                        integral part of these financial statements
                        keseluruhan.                                                        taken as a whole.


                                                               5
Page 402
                                                                                     The original financial statements included herein are in the
                                                                                                                           Indonesian language.

   PT BANK TABUNGAN NEGARA (PERSERO) TBK                                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
      LAPORAN POSISI KEUANGAN (lanjutan)                                         STATEMENT OF FINANCIAL POSITION (continued)
            Tanggal 31 Desember 2023                                                        As of December 31, 2023
         (Disajikan dalam jutaan Rupiah,                                                (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                       unless otherwise stated)


                                            31 Desember/            Catatan/          31 Desember/
                                          December 31, 2023          Notes          December 31, 2022

                                                                                                                        LIABILITIES, TEMPORARY
LIABILITAS, DANA SYIRKAH                                                                                                   SYIRKAH FUNDS AND
  TEMPORER DAN EKUITAS (lanjutan)                                                                                            EQUITY (continued)


EKUITAS                                                                                                                                       EQUITY
Modal saham - nominal
  Rp500 (Rupiah penuh)                                                                                                          Capital stock - Rp500
  per saham masing-masing                                                                                       par value per share (full amount)
  pada tanggal 31 Desember 2023                                                                                    as of December 31, 2023 and
  dan 2022                                                                                                                        2022, respectively
Modal dasar 20.478.432.000                                                                                       Authorized capital 20,478,432,000
  saham (nilai penuh)                                                                                                          shares (full amount)
  (terdiri dari 1 lembar saham seri A                                                                          (consisting of 1 share of Series A
  Dwiwarna dan 20.478.431.999                                                                                     Dwiwarna and 20,478,431,999
  lembar saham seri B)                                                                                                           shares of series B)
  masing-masing pada tanggal                                                                                            as of December 31, 2023
  31 Desember 2023 dan 2022                                                                                                and 2022, respectively
Modal ditempatkan dan disetor penuh                                                                                    Issued and fully paid capital
  14.034.444.413 saham (nilai penuh)                                                                       14,034,444,413 shares (full amount)
  (terdiri dari 1 lembar saham seri A                                                                           (consisting of 1 share of series A
  Dwiwarna dan 14.034.444.412 lembar                                                                      Dwiwarna and 14,034,444,412 shares
  Saham seri B) pada 31 Desember 2023                                                                     of series B) as of December 31, 2023
  dan 10.590.000.000 saham (nilai penuh)                                                                and 10.590.000.000 shares (full amount)
  (terdiri dari 1 lembar saham seri A Dwiwarna                                                      (consisting of 1 share of series A Dwiwarna
  dan 10.589.999.999 lembar Saham seri B)                                                               and 10.589.999.999 shares of series B)
  pada tanggal 31 Desember 2022                7.017.222             2y,29a                 5.295.000                  As of December 31, 2022
Tambahan modal disetor                         4.418.900               29b                  2.054.454                       Additonal paid-in capital
Dana setoran modal                                      -              29d                  2.756.575                             Capital deposit fund
Kerugian neto yang belum                                                                                                           Net unrealized loss
  direalisasi dan cadangan kerugian                                                                                               allowance for and
  penurunan nilai atas                                                                                                      impairment losses on
  efek-efek dan obligasi pemerintah                                                                                   securities and government
  diukur pada nilai wajar melalui                                                                                      at fair value through other
  penghasilan komprehensif lain-                                                                                          comprehensive income
  setelah pajak tangguhan                       (769.001)                 2i              (1.193.252)                            net of deferred tax
Pengukuran kembali                                                                                                                    Remeasurement
  program imbalan pasti -                                                                                                  of defined benefit plan
  setelah pajak tangguhan                      (560.339)                  2ae               (409.657)                          - net of deferred tax
Bagian efektif lindung nilai                                                                                                        Effective portion of
  arus kas                                       (32.346)            2an,12                   (49.301)                             cash flow hedge
                                                                                                                   Revaluation surplus of premises
Surplus revaluasi aset tetap                        3.565.773            2n,14             3.508.565                                 and equipment
Saldo laba*)                                                                                                                       Retained earnings*)
  Telah ditentukan penggunaannya                  13.181.214                              10.745.157                                    Appropriated
  Belum ditentukan penggunaannya                   3.657.729             2b,2y              3.201.813                                Unappropriated

TOTAL EKUITAS                                     30.479.152                              25.909.354                                 TOTAL EQUITY

TOTAL LIABILITAS, DANA                                                                                                      TOTAL LIABILITIES,
 SYIRKAH TEMPORER                                                                                                      TEMPORARY SYIRKAH
 DAN EKUITAS                                     438.749.736                           402.148.312                       FUNDS AND EQUITY



 *) Saldo defisit sebesar Rp14.226.290 telah dieliminasi akibat kuasi-               *)    Accumulated losses amounted to Rp14,226,290 was eliminated
    reorganisasi pada tanggal 31 Mei 2007.                                                 as a result of quasireorganization on May 31, 2007.




 Catatan atas laporan keuangan terlampir merupakan bagian                        The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                                  integral part of these financial statements
                        keseluruhan.                                                                  taken as a whole.


                                                                          6
Page 403
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
          LAPORAN LABA RUGI DAN                                           STATEMENT OF PROFIT OR LOSS AND
     PENGHASILAN KOMPREHENSIF LAIN                                          OTHER COMPREHENSIVE INCOME
    Untuk Tahun yang Berakhir Pada Tanggal                                         For the Year Ended
               31 Desember 2023                                                    December 31, 2023
        (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                             unless otherwise stated)


                                       Tahun yang Berakhir pada Tanggal 31 Desember/
                                                 Year Ended December 31,
                                                            Catatan/
                                            2023             Notes              2022

PENDAPATAN DAN BEBAN                                                                                      INCOME AND EXPENSES
  OPERASIONAL                                                                                                 FROM OPERATIONS
Pendapatan Bunga dan                                                                                     Interest Income and Income
  Bagi Hasil                                                2ab,2ac                                              from Profit Sharing
  Bunga                                     24.722.529        30a                23.233.200                                  Interest
                                                                                                          Profit sharing and margin
  Bagi hasil dan marjin unit syariah         3.558.723      2ad,30b               2.674.168                        from sharia unit

Total Pendapatan Bunga dan                                                                                 Total Interest Income and
  Bagi Hasil                                28.281.252                           25.907.368             Income from Profit Sharing

Beban Bunga, Bagi Hasil                                                                                   Interest, Profit Sharing and
  dan Bonus                                                                                                        Bonus Expenses
  Bunga                                   (13.203.108)      2ab,31a              (9.866.919)                                 Interest
  Beban pendanaan lainnya                    (203.317)                             (169.804)             Other financing expenses
  Bonus simpanan Wadiah                       (71.621)      2ad,31b                 (57.558)                          Wadiah Bonus
  Hak pihak ketiga atas bagi                                                                          Third parties’ share on return
    hasil Mudharabah                       (1.372.916)      2ad,31b                (815.803)                       of Mudharabah
Total Beban Bunga, Bagi Hasil                                                                            Total Interest, Profit Sharing
   dan Bonus                              (14.850.962)                          (10.910.084)                and Bonus Expenses
Pendapatan Bunga dan Bagi                                                                                Interest Income and Income
  Hasil - Neto                              13.430.290                           14.997.284                from Profit Sharing - Net


Pendapatan Operasional Lainnya                                                                               Other Operating Income
  Pungutan administrasi dan                                                                                 Administration fees and
    denda atas simpanan dan                                                                                         penalties on
    kredit yang diberikan                    1.096.346                              965.441                   deposits and loans
  Pendapatan dari penerimaan kredit                                                                        Income from recovery of
    yang dihapusbukukan                       934.191                               431.591                     loans written-off
  Keuntungan dari penjualan
    efek-efek - neto                             6.669         2i,8                        -         Gain on sale of securities - net
  Keuntungan dari penjualan                                                                            Gain on sale of government
    obligasi pemerintah - neto                541.392          2i,9                        -                          bonds - net
  Keuntungan yang belum direalisasi                                                                    Unrealized gain on changes
    dari perubahan nilai wajar                                                                                     in fair value of
    efek-efek - neto                             1.802         2i,8                        -                      securities - net
  Keuntungan yang belum direalisasi                                                                    Unrealized gain on changes
    dari perubahan nilai wajar                                                                                     in fair value of
    obligasi pemerintah - neto                       -         2i,9                  55.045                           bonds - net
  Lain-lain                                  1.310.747         32                   822.775                                   Others
Total Pendapatan Operasional
  Lainnya                                    3.891.147                            2.274.852            Total Other Operating Income


Penyisihan Kerugian Penurunan                                                                               Provision for Impairment
  Nilai Aset Keuangan dan                                                                                     Losses on Financial
  Aset Non Keuangan                        (3.765.397)      2e,2p,33             (4.017.378)              and Non-financial Assets

(Penyisihan) pembalikan Estimasi                                                                          (Provision for) reversal of
  Kerugian Penurunan                                                                                       Estimated losses on
  Nilai Komitmen dan Kontinjensi                 1.139         27                    (1.075)       Comitment and Contingencies




 Catatan atas laporan keuangan terlampir merupakan bagian              The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                        integral part of these financial statements
                        keseluruhan.                                                        taken as a whole.


                                                               7
Page 404
                                                                              The original financial statements included herein are in the
                                                                                                                    Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
          LAPORAN LABA RUGI DAN                                              STATEMENT OF PROFIT OR LOSS AND
 PENGHASILAN KOMPREHENSIF LAIN (lanjutan)                                 OTHER COMPREHENSIVE INCOME (continued)
    Untuk Tahun yang Berakhir Pada Tanggal                                           For the Year Ended
               31 Desember 2023                                                      December 31, 2023
        (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                               unless otherwise stated)


                                           Tahun yang Berakhir pada Tanggal 31 Desember/
                                                     Year Ended December 31,
                                                               Catatan/
                                                2023            Notes              2022
PENDAPATAN DAN BEBAN                                                                                      INCOME AND EXPENSES
  OPERASIONAL (lanjutan)                                                                            FROM OPERATIONS (continued)

Beban Operasional Lainnya                                                                                     Other Operating Expenses
  Umum dan administrasi                         (3.884.779)       34                (3.754.028)            General and administrative
  Gaji karyawan                                 (3.982.503)   2ae,2d,35,43          (4.190.298)        Salaries and employee benefits
  Premi program penjaminan                                                                                  Premium on government’s
    pemerintah                                    (656.774)       42                  (599.991)                  guarantee program
  Kerugian yang belum direalisasi                                                                         Unrealized losses on changes
    dari perubahan nilai wajar                                                                             in fair value of government
    obligasi pemerintah - neto                     (5.780)       2i,9                          -                              bonds - net
  Kerugian dari penjualan                                                                                    Loss on sale of government
    obligasi pemerintah - neto                           -       2i,9                 (266.235)                               bonds - net
  Kerugian dari penjualan                                                                                    Loss on sale of government
    Efek-efek - neto                                     -       2i,8                 (234.089)                          securities - net
  Kerugian yang belum direalisasi                                                                         Unrealized losses on changes
    dari perubahan nilai wajar                                                                                            in fair value of
    efek-efek - neto                                     -       2i,8                  (64.931)                          securities - net
  Lain-lain                                       (487.614)      36                   (329.308)                                     Others
Total Beban Operasional Lainnya                 (9.017.450)                         (9.438.880)         Total Other Operating Expenses


LABA OPERASIONAL                                 4.539.729                           3.814.803          INCOME FROM OPERATIONS

PENDAPATAN (BEBAN) BUKAN                                                                                          NON-OPERATING
 OPERASIONAL - NETO                             (159.519)         37                      60.887       INCOME (EXPENSES) - NET
LABA SEBELUM                                                                                                         INCOME BEFORE
 BEBAN PAJAK                                     4.380.210                           3.875.690                       TAX EXPENSE
BEBAN PAJAK                                      (879.222)      2ag,38               (830.617)                           TAX EXPENSE
LABA TAHUN BERJALAN                              3.500.988                           3.045.073                INCOME FOR THE YEAR


Penghasilan Komprehensif Lain:                                                                         Other Comprehensive Income:

Akun-akun yang tidak akan direklasifikasi                                                            Items that will not be reclassified
  ke laba rugi                                                                                                        to profit or loss
Surplus revaluasi aset tetap                       57.208       2n,14                  200.574       Surplus revaluation of fixed asset
Pengukuran kembali program imbalan                                                                         Remeasurement of defined
  pasti                                           (186.027)     2ae,40                    59.872                          benefit plan
Pajak penghasilan terkait akun-akun                                                                Income tax related to items that will
  yang tidak akan direklasifikasi                                                                                not be reclassified
  ke laba rugi                                      35.345       38c                   (11.376)                      to profit or loss

Akun-akun yang akan direklasifikasi                                                                      Items that will be reclassified
  ke laba rugi                                                                                                        to profit or loss
Bagian efektif lindung nilai -                                                                                 Effective part of hedging-
   arus kas                                         20.932                             (40.883)                               cash flow
Keuntungan (kerugian) neto yang
  belum direalisasi atas perubahan nilai
  efek-efek dan obligasi                                                                                  Net unrealized gain (loss) on
  pemerintah yang diukur pada                                                                   changes in value of fair value through
  nilai wajar melalui                                                                                  other comprehensive income
  penghasilan komprehensif lain                    517.528      2i,8,9              (1.576.967)    securities and government bonds




 Catatan atas laporan keuangan terlampir merupakan bagian                 The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                           integral part of these financial statements
                        keseluruhan.                                                           taken as a whole.


                                                                  8
Page 405
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
          LAPORAN LABA RUGI DAN                                           STATEMENT OF PROFIT OR LOSS AND
 PENGHASILAN KOMPREHENSIF LAIN (lanjutan)                             OTHER COMPREHENSIVE INCOME (continued)
    Untuk Tahun yang Berakhir Pada Tanggal                                        For the Year Ended
               31 Desember 2023                                                   December 31, 2023
        (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                            unless otherwise stated)


                                      Tahun yang Berakhir pada Tanggal 31 Desember/
                                                Year Ended December 31,
                                                            Catatan/
                                            2023             Notes              2022
Penghasilan Komprehensif                                                                                      Other Comprehensive
  Lain: (lanjutan)                                                                                            Income: (continued)

Akun-akun yang akan direklasifikasi                                                                    Items that will be reclassified
  ke laba rugi (lanjutan)                                                                             to profit or loss (continued)

Pajak penghasilan terkait akun-akun                                                                   Income tax related to items that
  yang akan direklasifikasi                                                                                     will be reclassified
  ke laba rugi                                (97.254)                              307.463                         to profit or loss
Total Laba Komprehensif                                                                               Total Comprehensive Income
  Tahun Berjalan                            3.848.720                             1.983.756                         for the Year


LABA PER SAHAM                                                                                              EARNINGS PER SHARE
Dasar (nilai penuh)                                249       2ai,48                     288                      Basic (full amount)




 Catatan atas laporan keuangan terlampir merupakan bagian              The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                        integral part of these financial statements
                        keseluruhan.                                                        taken as a whole.


                                                               9
Page 406
                                                                                                                                                                                                         The original financial statements included herein are in the Indonesian language.


                                       PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                                                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
                                               LAPORAN PERUBAHAN EKUITAS                                                                                                              STATEMENT OF CHANGES IN EQUITY (continued)
                                  Untuk Tahun yang Berakhir Pada Tanggal 31 Desember 2023                                                                                                   For the Year Ended December 31, 2023
                                    (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                                       (Expressed in millions of Rupiah, unless otherwise stated)



                                                                                                                        Keuntungan
                                                                                                                         (Kerugian)
                                                                                                                        yang Belum
                                                                                                                         Direalisasi
                                                                                                                      dan Cadangan
                                                                                                                           kerugian
                                                                                                                         penurunan
                                                                                                                      nilai atas Efek
                                                                                                                           efek dan
                                                                                                                           Obligasi
                                                                                                                        Pemerintah
                                                                                                                        yang Diukur
                                                                                                                          pada nilai
                                                                                                                       wajar melalui
                                                                                                                        penghasilan
                                                                                                                       komprehensif                                                                                Saldo Laba/ Retained Earnings*)
                                                    Modal                                                                 lain-Neto/                                                        Bagian
                                                 Ditempat                                                                Unrealized          Pengukuran                                     Efektif
                                                  kan dan                                                               Gain (Loss)           Kembali               Surplus                Lindung
                                                  Disetor                                                             and allowance           Program              Revaluasi              Nilai Arus
                                                  Penuh/               Tambahan                   Dana                for impairment        Imbalan Pasti         Aset Tetap/                Kas/
                                                   Issued                Modal                   Setoran                  losses on            - Neto/            Revaluation             Effective                 Telah
                                                 and Fully              disetor/                 Modal/                     FVTOCI         Remeasureme            Surplus of              Portion of             Ditentukan
                                                    Paid               Additional                Deposit              Securities and       nt of Defined         Premises and                Cash               Penggunaan                Belum Ditentukan
                             Catatan/             Capital               Paid-in                  capital                Government         Benefit Plan -         Equipment                  Flow                    nya/                 Penggunaannya/                  Ekuitas/
                              Notes                 Stock               Capital                   fund                  Bonds - Net             Net                                        Hedges               Appropriated               Unappropriated                  Equity

Saldo per 31 Desember 2021                       5.295.000               2.054.454                          -                     87.817        (458.153)             3.307.991             (19.983)                 8.606.555                     2.532.966             21.406.647          Balance as of December 31, 2021

Total Laba (Rugi)
 komprehensif tahun           2h,8                                                                                                                                                                                                                                                                      Total comprehensive
 berjalan                    9,12,40                        -                       -                       -              (1.281.069)            48.496               200.574              (29.318)                           -                   3.045.073              1.983.756                income (loss) for the year

Dana setoran modal               29d                        -                       -            2.756.575                             -                -                      -                     -                         -                              -           2.756.575                       Capital deposit fund

Dividen                          29c                        -                       -                       -                          -                -                      -                     -                         -                     (237.624)             (237.624)                                  Dividend

Pembentukan cadangan
  umumdan cadangan                                                                                                                                                                                                                                                                                    Appropriation for general
  tujuan                         29c                        -                       -                       -                          -                -                      -                     -               2.138.602                     (2.138.602)                       -                 and special reserves
Saldo per 31 Desember 2022                       5.295.000               2.054.454               2.756.575                 (1.193.252)          (409.657)             3.508.565             (49.301)               10.745.157                        3.201.813           25.909.354          Balance as of December 31, 2022

                 *)    Saldo defisit sebesar Rp14.226.290 telah dieliminasi akibat kuasi-reorganisasi pada tanggal 31 Mei 2007.                                  *)    Accumulated losses amounted to Rp14,226,290 had been eliminated as a result of quasi-reorganization as of May 31, 2007.




                               Catatan atas laporan keuangan terlampir merupakan bagian yang tidak                                                           The accompanying notes to the financial statements form an integral part of these financial
                                      terpisahkan dari laporan keuangan secara keseluruhan.                                                                                              statements taken as a whole.


                                                                                                                                                            10
Page 407
                                                                                                                                                                                                                     The original financial statements included herein are in the Indonesian language.

                                         PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                                                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
                                            LAPORAN PERUBAHAN EKUITAS (lanjutan)                                                                                                            STATEMENT OF CHANGES IN EQUITY (continued)
                                    Untuk Tahun yang Berakhir Pada Tanggal 31 Desember 2023                                                                                                       For the Year Ended December 31, 2023
                                      (Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain)                                                                                           (Expressed in millions of Rupiah, unless otherwise stated)



                                                                                                                              Keuntungan
                                                                                                                               (Kerugian)
                                                                                                                              yang Belum
                                                                                                                               Direalisasi
                                                                                                                            dan Cadangan
                                                                                                                                 kerugian
                                                                                                                               penurunan
                                                                                                                             nilai atas Efek
                                                                                                                                 efek dan
                                                                                                                                 Obligasi
                                                                                                                              Pemerintah
                                                                                                                              yang Diukur
                                                                                                                                pada nilai
                                                                                                                             wajar melalui
                                                                                                                              penghasilan
                                                                                                                             komprehensif                                                                                     Saldo Laba/ Retained Earnings*)
                                                         Modal                                                                  lain-Neto/                                                            Bagian
                                                      Ditempat                                                                 Unrealized           Pengukuran                                        Efektif
                                                       kan dan                                                                Gain (Loss)            Kembali                   Surplus               Lindung
                                                       Disetor                                                              and allowance            Program                  Revaluasi             Nilai Arus
                                                       Penuh/               Tambahan                   Dana                 for impairment         Imbalan Pasti             Aset Tetap/               Kas/
                                                        Issued                Modal                   Setoran                   losses on             - Neto/                Revaluation            Effective                 Telah
                                                      and Fully              disetor/                 Modal/                     FVTOCI           Remeasureme                Surplus of             Portion of             Ditentukan
                                                         Paid               Additional                Deposit               Securities and        nt of Defined               Premises                 Cash               Penggunaan                 Belum Ditentukan
                                Catatan/               Capital               Paid-in                  capital                 Government          Benefit Plan -                 and                   Flow                    nya/                  Penggunaannya/                  Ekuitas/
                                 Notes                   Stock               Capital                   fund                   Bonds - Net              Net                   Equipment               Hedges               Appropriated                Unappropriated                  Equity

Saldo per 31 Desember 2022                            5.295.000              2.054.454                2.756.575                     (1.193.252)        (409.657)               3.508.565               (49.301)               10.745.157                      3.201.813            25.909.354        Balance as of December 31, 2022

Total Laba (Rugi)
    komprehensif tahun           2h,8                                                                                                                                                                                                                                                                            Total comprehensive
    berjalan                    9,12,40                          -                      -                        -                     424.251         (150.682)                  57.208                 16.955                           -                   3.500.988              3.848.720              income (loss) for the year
Penerbitan saham                                      1.722.222              2.364.446                           -                            -                -                         -                      -                         -                             -            4.086.668                        Shares issuance

Dana setoran modal                  29d                          -                      -           (2.756.575)                               -                -                         -                      -                         -                             -          (2.756.575)                     Capital deposit fund

Dividen                             29c                          -                      -                        -                            -                -                         -                      -                         -                     (609.015)            (609.015)                                Dividend

Pembentukan cadangan
  umum dan cadangan                                                                                              -                                                                                                                                                                                            Appropriation for general
  tujuan                            29c                          -                      -                                                     -                -                         -                      -              2.436.057                      (2.436.057)                       -              and special reserves
Saldo per 31 Desember 2023                            7.017.222              4.418.900                           -                   (769.001)         (560.339)               3.565.773               (32.346)               13.181.214                       3.657.729           30.479.152        Balance as of December 31, 2023

                   *)    Saldo defisit sebesar Rp14.226.290 telah dieliminasi akibat kuasi-reorganisasi pada tanggal 31 Mei 2007.                                       *)      Accumulated losses amounted to Rp14,226,290 had been eliminated as a result of quasi-reorganization as of May 31, 2007.




                Catatan atas laporan keuangan terlampir merupakan bagian yang tidak                                                                The accompanying notes to the financial statements form an integral part of these financial
                       terpisahkan dari laporan keuangan secara keseluruhan.                                                                                                   statements taken as a whole.


                                                                                                                                                                   11
Page 408
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
                 LAPORAN ARUS KAS                                               STATEMENT OF CASH FLOWS
        Untuk Tahun yang Berakhir Pada Tanggal                                       For the Year Ended
                   31 Desember 2023                                                  December 31, 2023
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


                                                    Tahun yang Berakhir
                                                 pada Tanggal 31 Desember/
                                                  Year Ended December 31,
                                                            Catatan/
                                             2023             Notes             2022

ARUS KAS DARI AKTIVITAS                                                                                          CASH FLOWS FROM
   OPERASI                                                                                                   OPERATING ACTIVITIES
Penerimaan bunga, bagi hasil,
    dan marjin                              27.618.186                            24.331.326           Interest, profit sharing, and margin
Penerimaan kredit yang telah                                                                                          Recoveries from loan
   dihapusbukukan                            1.011.258                                 503.307                           debts written-off
Pembayaran bunga dan bonus,                                                                                  Interest and bonus, fees and
   provisi dan komisi                      (14.892.249)                          (10.775.222)                          commissions paid
Pembayaran pajak penghasilan
   badan                                    (1.020.952)                           (1.001.324)                 Corporate income tax paid
Penerimaan dari surat ketetapan                                                                                         Recoveries from
   pajak                                               -      38                     402.428                     tax assessment letter
Beban operasional                                                                                                        Other operating
   lainnya - neto                           (5.790.828)                           (6.896.183)                          expenses - net
(Beban) pendapatan bukan                                                                                             Other non-operating
   operasional lainnya - neto                  (54.382)                                 13.828                (expenses) income - net

Penerimaan kas sebelum perubahan                                                                         Cash receipts before changes in
  aset dan liabilitas operasi                6.871.033                             6.578.160               operating assets and liabilities

Perubahan dalam aset dan                                                                                     Changes in operating assets
  liabilitas operasi:                                                                                                    and liabilities:

Penurunan (kenaikan) dalam                                                                               Decrease (increase) in operating
  aset operasi:                                                                                                                  assets:
  Efek-efek yang diukur pada nilai wajar                                                                Fair value through profit or loss
        melalui laba rugi                    (246.380)                              (104.885)                              securities
  Obligasi pemerintah yang diukur pada                                                                  Fair value through profit or loss
        nilai wajar melalui laba rugi       15.788.979                            (4.955.939)                     government bonds
  Tagihan akseptasi                          (124.005)                                 33.578                    Acceptance receivable
  Kredit yang diberikan dan pembiayaan/                                                                     Loans and sharia financing/
        piutang syariah                    (38.484.306)                          (26.318.471)                           receivables
  Aset lain-lain                              (785.307)                             (196.503)                             Other assets

Kenaikan (penurunan) dalam                                                                               Increase (decrease) in operating
  Liabilitas operasi:                                                                                                         liabilities:
  Liabilitas segera                             74.415                              (466.852)                Liabilites due immediately
  Simpanan dari nasabah                                                                                        Deposits from customer
     Giro                                   24.468.372                             31.538.044                      Demand deposits
     Giro Wadiah                              4.814.656                             3.268.857              Wadiah demand deposits
     Tabungan                                 1.539.832                          (10.617.072)                       Savings deposits
     Tabungan Wadiah                              82.875                               43.479              Savings deposits Wadiah
     Deposito berjangka                     (5.504.388)                             (322.562)                          Time deposits
  Simpanan dari bank lain                       (45.095)                               70.400                Deposits from other banks
  Liabilitas akseptasi                          124.005                               (33.578)                   Acceptance payables
  Liabilitas lain-lain                      (4.184.154)                               654.214                            Other liabilities
  Dana syirkah temporer                       2.243.821                             2.094.203                 Temporary syirkah funds

Kas Neto                                                                                                                     Net Cash
  Diperoleh dari Aktivitas Operasi           6.634.353                             1.265.073         provided by Operating Activities




 Catatan atas laporan keuangan terlampir merupakan bagian              The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                        integral part of these financial statements
                        keseluruhan.                                                        taken as a whole.



                                                              12
Page 409
                                                                                 The original financial statements included herein are in the
                                                                                                                       Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                     PT BANK TABUNGAN NEGARA (PERSERO) TBK
            LAPORAN ARUS KAS (lanjutan)                                          STATEMENT OF CASH FLOWS (continued)
        Untuk Tahun yang Berakhir Pada Tanggal                                             For the Year Ended
                   31 Desember 2023                                                        December 31, 2023
            (Disajikan dalam jutaan Rupiah,                                          (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                 unless otherwise stated)


                                             Tahun yang Berakhir pada Tanggal 31 Desember/
                                                       Year Ended December 31,
                                                                  Catatan/
                                                    2023            Notes              2022

ARUS KAS DARI AKTIVITAS                                                                                                   CASH FLOWS FROM
   INVESTASI                                                                                                          INVESTING ACTIVITIES
(Pembelian) penerimaan saat jatuh tempo
   dari efek-efek                                                                                               (Purchase) receipt from matured
   biaya perolehan diamortisasi                   (2.868.515)                                 199.964                amortized cost securities
                                                                                                                    Acquisitions of premises and
Perolehan aset tetap                              (2.313.490)       14                   (1.042.464)                                 equipment
(Pembelian) penerimaan efek-efek                                                                                  (Purchase) receipt in fair value
   diukur pada nilai wajar melalui                                                                             through other comprehensive
   penghasilan komprehensif lain                   (1.247.159)                                381.580                      income securities
Penerimaan obligasi
   pemerintah diukur pada nilai                                                                                              Receipt in fair value
   wajar melalui penghasilan                                                                                   through other comprehensive
   komprehensif lain                                2.211.325                            5.714.402                income government bonds
Penerimaan (pembelian) obligasi pemerintah                                                                  Receipt (purchase) of amortized cost
   pada biaya perolehan diamortisasi               (1.655.566)                          (7.816.426)                       government bonds
Penempatan efek-efek yang dibeli                                                                              Placement of securities purchased
   dengan janji dijual kembali                   (43.597.267)                         (165.520.488)                  under agreement to resell
Penerimaan efek-efek yang dibeli                                                                                 Receipt of securities purchased
   dengan janji dijual kembali                    45.031.457                           165.683.898                   under agreement to resell

Kas Neto digunakan untuk                                                                                                      Net Cash used in
  Aktivitas Investasi                              (4.439.215)                          (2.399.534)                       Investing Activities

ARUS KAS DARI AKTIVITAS                                                                                                  CASH FLOWS FROM
  PENDANAAN                                                                                                          FINANCING ACTIVITIES
Penerimaan atas surat                                                                                                    Proceeds of securities
  berharga yang diterbitkan                         2.449.019                            1.541.330                                    issued
Pembayaran atas
  surat-surat berharga yang                                                                                                 Payment of matured
  diterbitkan jatuh tempo                          (2.769.764)                           (5.263.000)                         securities issued
Penerimaan atas                                                                                                                   Proceeds from
  efek-efek yang dijual dengan                                                                                           securities sold under
  janji dibeli kembali                             67.691.353                                 592.326                 repurchase agreements
Pembayaran atas jatuh tempo                                                                                                Payments of matured
  efek-efek yang dijual dengan                                                                                           securities sold under
  janji dibeli kembali                            (67.691.353)                            (592.326)                   repurchase agreements
Pembayaran dividen                                   (609.015)        29c                 (237.624)                      Payments of dividends
Penerimaan dari pinjaman                                                                                                          Proceeds from
  yang diterima                                    11.185.162                           11.814.826                            fund borrowings
Pembayaran dari pinjaman                                                                                                             Payment of
  yang diterima                                    (2.187.576)                          (9.095.884)                           fund borrowings
Pembayaran liabilitas sewa                             (81.973)        28                   (84.983)                Payment of lease liabilities
Dana setoran modal                                   1.330.093                            2.756.575                          Shares issuance
Kas neto diperoleh dari                                                                                                     Net Cash Provided
  aktivitas Pendanaan                               9.315.946                            1.431.240                    by Financing Activities
KENAIKAN NETO KAS                                                                                                   NET INCREASE IN CASH
  DAN SETARA KAS                                   11.511.084                                 296.779             AND CASH EQUIVALENTS

KAS DAN SETARA KAS                                                                                           CASH AND CASH EQUIVALENTS
  AWAL TAHUN                                       41.526.686                           41.229.907              AT BEGINNING OF YEAR


KAS DAN SETARA KAS                                                                                           CASH AND CASH EQUIVALENTS
  AKHIR TAHUN                                      53.037.770                           41.526.686                    AT END OF YEAR




 Catatan atas laporan keuangan terlampir merupakan bagian                    The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                              integral part of these financial statements
                        keseluruhan.                                                              taken as a whole.



                                                                    13
Page 410
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
            LAPORAN ARUS KAS (lanjutan)                                    STATEMENT OF CASH FLOWS (continued)
        Untuk Tahun yang Berakhir Pada Tanggal                                       For the Year Ended
                   31 Desember 2023                                                  December 31, 2023
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


                                       Tahun yang Berakhir pada Tanggal 31 Desember/
                                                 Year Ended December 31,
                                                            Catatan/
                                              2023           Notes               2022

Rincian kas dan setara                                                                                        The details of cash and cash
   kas akhir tahun adalah                                                                                     equivalents at end of year
   sebagai berikut:                                                                                                       are as follows:
   Kas                                        2.127.489       2a,4                 1.661.533                                        Cash
                                                                                                                  Current accounts with
  Giro pada Bank Indonesia                   18.145.761       2g,5                25.416.941                         Bank Indonesia
  Giro pada bank lain                         2.203.398       2g,6                 1.472.257          Current accounts with other banks
  Penempatan pada Bank                                                                                 Placements with Bank Indonesia
     Indonesia dan bank                                                                                            and other banks -
     lain - jangka waktu jatuh tempo                                                                            maturing within three
     tiga bulan atau kurang                                                                                     months or less since
     sejak tanggal perolehan                 30.561.122       2h,7                12.975.955                     the acquisition date

Total                                        53.037.770                           41.526.686                                        Total




 Catatan atas laporan keuangan terlampir merupakan bagian              The accompanying notes to the financial statements form an
    yang tidak terpisahkan dari laporan keuangan secara                        integral part of these financial statements
                        keseluruhan.                                                        taken as a whole.



                                                               14
Page 411
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023 and
       Tahun yang Berakhir pada Tanggal Tersebut                                   for the Year Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


1.     UMUM                                                      1.     GENERAL

       a.   Pendirian Bank                                              a.    Bank’s establishment

            PT Bank Tabungan Negara (Persero) Tbk                             PT Bank Tabungan Negara (Persero) Tbk
            (“Bank”) didirikan sebagai bank milik negara,                     (“the Bank”) was originally established as a
            semula dengan nama “Bank Tabungan Pos”                            state-owned bank under the name “Bank
            berdasarkan Undang-undang Darurat No. 9                           Tabungan Pos” based on Martial Law No. 9 of
            Tahun 1950 tanggal 9 Februari 1950.                               1950 dated February 9, 1950. Subsequently,
            Selanjutnya,       berdasarkan      Peraturan                     the name of the Bank was changed to “Bank
            Pemerintah Pengganti Undang-undang No. 4                          Tabungan Negara” based on Government
            tahun 1963, nama Bank Tabungan Pos                                Regulation Amendment of Law No. 4 of 1963.
            diubah menjadi “Bank Tabungan Negara”.                            The Bank started operating as a state-owned
            Pada tanggal 29 April 1989, Bank mulai                            commercial bank on April 29, 1989.
            beroperasi sebagai bank umum milik negara.

            Berdasarkan Peraturan Pemerintah No. 24                           Based on Government Regulation No. 24 of
            Tahun 1992, status Bank diubah menjadi                            1992, the status of the Bank was changed to a
            perseroan terbatas milik negara (Persero).                        state-owned limited liability corporation
            Akta pendirian Bank sebagai Persero dibuat                        (Persero). The Bank’s deed of establishment
            dihadapan Notaris Muhani Salim, S.H.,                             as a limited liability corporation was
            No. 136 tanggal 31 Juli 1992 dan telah                            documented under deed No. 136 dated
            disahkan oleh Menteri Kehakiman dengan                            July 31, 1992 of Notary Muhani Salim, S.H.,
            Surat Keputusan No. C2-6587.HT.01.01.                             and was approved by the Ministry of Justice in
            TH.92 tanggal 12 Agustus 1992, serta                              its Decision Letter No. C2-6587.HT.01.01.
            diumumkan dalam Berita Negara No. 73                              TH.92 dated August 12, 1992 and was
            tanggal 11 September 1992 Tambahan                                published in Supplement No. 6A of State
            No. 6A.                                                           Gazette No. 73 dated September 11, 1992.

            Berdasarkan surat keputusan Direksi Bank                          Based      on      the       Decision     Letter
            Indonesia No. 27/55/KEP/DIR tanggal                               No. 27/55/KEP/DIR dated September 23, 1994
            23 September 1994, Bank memperoleh status                         of the Directors of Bank Indonesia, the Bank
            sebagai bank devisa.                                              obtained the status of a foreign exchange bank.

            Bank telah mendapatkan persetujuan dari                           The Bank has obtained approval from Bank
            Bank Indonesia untuk melakukan kegiatan                           Indonesia to conduct commercial banking
            umum perbankan berdasarkan prinsip syariah                        activities based on sharia principles through
            melalui surat No. 6/1350/DPbS tanggal                             letter No. 6/1350/DPbS dated December 15,
            15 Desember 2004.                                                 2004.

            Bank    mulai     melakukan     kegiatannya                       The Bank started its activities based on sharia
            berdasarkan prinsip syariah pada tanggal                          principles on February 14, 2005 with the
            14 Februari 2005 dengan mulai beroperasinya                       operation of its first sharia branch in Jakarta -
            cabang syariah pertama di Jakarta - Harmoni.                      Harmoni.

            Pernyataan   keputusan      Rapat    Umum                         The decision of the Extraordinary General
            Pemegang Saham Luar Biasa yang                                    Stockholders’ Meeting to amend all of the
            menyetujui perubahan seluruh Anggaran                             Bank’s Articles of Association to become a
            Dasar PT Bank Tabungan Negara (Persero)                           public company was notarized under notarial
            menjadi Perseroan Terbuka telah diaktakan                         deed No. 7 dated October 12, 2009 of Fathiah
            dengan akta notaris No. 7 tanggal                                 Helmi, S.H., The amendment was approved by
            12 Oktober 2009 dari notaris Fathiah Helmi,                       the Ministry of Laws and Human Rights in its
            S.H., Perubahan anggaran dasar tersebut                           letter No. AHU-49309.AH-01.02. of 2009.
            mendapat persetujuan dari Menteri Hukum
            dan Hak Asasi Manusia Republik Indonesia
            melalui surat No. AHU-49309.AH.01.02.
            Tahun 2009.




                                                            15
Page 412
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


1.     UMUM (lanjutan)                                           1.    GENERAL (continued)
       a.   Pendirian Bank (lanjutan)                                  a.   Bank’s establishment (continued)

            Anggaran Dasar Bank telah mengalami
            \                                                               The Articles of Association of the Bank has
            beberapa kali perubahan. Penyesuaian                            been amended several times. The amendment
            terakhir dinyatakan dalam Akta No. 08 tanggal                   was covered by Notarial Deed No. 08 dated
            8 April 2021 yang dibuat dihadapan Ashoya                       April 8, 2021 of Ashoya Ratam, S.H., MKn., a
            Ratam, S.H., MKn., notaris di Jakarta,                          notary in Jakarta, as approved in the Annual
            berdasarkan keputusan Rapat Umum                                General Shareholders’ Meeting on March 10,
            Pemegang Saham Tahunan tanggal 10 Maret                         2021 and approved by the Ministry of Laws and
            2021 dan telah mendapat persetujuan dari                        Human Rights of the Republic of Indonesia, in
            Menteri Hukum dan Hak Asasi Manusia                             its Decision Letter No. AHU-AH.01.03-0288922
            Republik Indonesia, dengan Surat Keputusan                      dated May 4, 2021.
            No.AHU-AH.01.03-0288922 tanggal 4 Mei
            2021.

            Anggaran Dasar Bank telah mengalami                             The Articles of Association of the Bank has
            beberapa kali perubahan. Penyesuaian                            been amended several times. The amendment
            terakhir dinyatakan dalam Akta No. 28 tanggal                   was covered by Notarial Deed No. 28 dated
            28 Maret 2023 yang dibuat dihadapan Ashoya                      March 28, 2023 of Ashoya Ratam, S.H., MKn.,
            Ratam, S.H., MKn., notaris di Jakarta,                          a notary in Jakarta, as approved in the Annual
            berdasarkan keputusan Rapat Umum                                General Shareholders’ Meeting on March 16,
            Pemegang Saham Tahunan tanggal 16 Maret                         2023 and approved by the Ministry of Laws and
            2023 dan telah mendapat persetujuan dari                        Human Rights of the Republic of Indonesia, in
            Menteri Hukum dan Hak Asasi Manusia                             its Decision Letter No. AHU-0023685.AH.01.02
            Republik Indonesia, dengan Surat Keputusan                      dated April 20, 2023.
            No.AHU-0023685.AH.01.02 tanggal 20 April
            2023.

            Berdasarkan pasal 3 Anggaran Dasar Bank,                        According to Article 3 of the Bank’s Articles of
            ruang lingkup kegiatan Bank adalah                              Association, the scope of the Bank’s activities
            menjalankan kegiatan umum perbankan                             is to conduct commercial banking activities in
            sesuai dengan undang-undang dan peraturan                       accordance with the prevailing laws and
            yang berlaku, termasuk melakukan kegiatan                       regulations, including the Bank’s activities
            Bank berdasarkan prinsip syariah.                               based on sharia principles.
            Bank berdomisili di Jakarta dan kantor pusat                    The Bank is domiciled in Jakarta and its head
            Bank berlokasi di Jalan Gajah Mada No. 1,                       office is located at Jalan Gajah Mada No. 1,
            Jakarta Pusat.                                                  Central Jakarta.
            Pada tanggal 31 Desember 2023, Bank                             As of December 31, 2023, the Bank has 115
            memiliki 115 kantor cabang (termasuk 34                         branch offices (including 34 sharia branch
            kantor cabang syariah), 616 kantor cabang                       offices), 616 sub-branch offices (including
            pembantu (termasuk 75 kantor cabang                             75 sharia sub-branch offices)(unaudited).
            pembantu syariah) (tidak diaudit).
            Pada tanggal 31 Desember 2022, Bank                             As of December 31, 2022, the Bank has 110
            memiliki 110 kantor cabang (termasuk 30                         branch offices (including 30 sharia branch
            kantor cabang syariah), 606 kantor cabang                       offices), 606 sub-branch offices (including
            pembantu (termasuk 69 kantor cabang                             69 sharia sub-branch offices), and 5 sharia cash
            pembantu syariah), dan 5 kantor kas syariah                     offices (unaudited).
            (tidak diaudit).




                                                            16
Page 413
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


1.     UMUM (lanjutan)                                            1.    GENERAL (continued)

       b.   Rekapitalisasi                                              b.   Recapitalization

            Pada tanggal 28 Mei 1999, Pemerintah                             On May 28, 1999, the Government issued
            mengeluarkan Peraturan Pemerintah No. 52                         Government Regulation No. 52 of 1999
            Tahun 1999 tentang penambahan penyertaan                         regarding the increase in the Government’s
            Pemerintah pada Bank dalam rangka                                capital participation in the Bank within the
            Program Rekapitalikassasi yang dijalankan                        framework         of    the       Government’s
            oleh Pemerintah dengan nilai setinggi-                           Recapitalization Program for a maximum
            tingginya sebesar Rp11.200.000. Pada                             amount of Rp11,200,000. On August 21, 2000,
            tanggal 21 Agustus 2000, Pemerintah                              the     Government      issued     Government
            mengeluarkan Peraturan Pemerintah No. 68                         Regulation No. 68 of 2000 regarding the
            Tahun 2000 tentang penambahan modal                              increase in the Government’s capital
            Pemerintah pada Bank dalam rangka                                participation in the Bank within the framework
            Program Rekapitalisasi yang dijalankan oleh                      of the Government’s Recapitalization Program
            Pemerintah dengan nilai setinggi-tingginya                       for a maximum amount of Rp2,805,000 so that
            sebesar Rp2.805.000, sehingga tambahan                           the additional Government capital participation
            penyertaan Pemerintah keseluruhan menjadi                        would become Rp14,005,000. The increase in
            sebesar Rp14.005.000. Penambahan modal                           the Government participation was settled
            tersebut dilakukan melalui penerbitan obligasi                   through the issuance to the Bank of the
            rekapitalisasi Pemerintah untuk Bank sebesar                     government’s recapitalization bonds amounting
            Rp9.803.500 dan Rp4.201.500 masing-                              to Rp9,803,500 and Rp4,201,500 on July 25,
            masing pada tanggal 25 Juli 2000 dan 31                          2000 and October 31, 2000, respectively.
            Oktober 2000.
                                                                             On February 28, 2001, the Bank’s Directors and
            Pada tanggal 28 Februari 2001, Direksi Bank                      the Ministry of Finance entered into a
            dan Menteri Keuangan menandatangani                              Management Contract which includes, among
            Kontrak Manajemen yang berisikan antara                          others, the total final recapitalization
            lain bahwa jumlah kebutuhan rekapitalisasi                       requirement of the Bank of Rp13,843,540 and
            akhir Bank adalah sebesar Rp13.843.540 dan                       the excess recapitalization bonds of Rp161,460
            kelebihan obligasi rekapitalisasi sebesar                        which should be returned to the Government.
            Rp161.460 harus dikembalikan kepada                              On November 5, 2001, the Bank returned such
            Pemerintah. Pada tanggal 5 November 2001,                        excess recapitalization bonds to the
            kelebihan obligasi rekapitalisasi tersebut                       government.
            dikembalikan kepada Pemerintah.
            Sebagai tindak lanjut dari Kontrak Manajemen                     As a result of the Management Contract, the
            tersebut, Menteri       Keuangan Republik                        Ministry of Finance issued Regulation
            Indonesia mengeluarkan Peraturan Menteri                         No. 40/PMK.06/2008 dated February 29, 2008
            Keuangan No. 40/PMK.06/2008 tanggal                              regarding the determination of the final amount
            29 Februari 2008 tentang penetapan nilai                         of the Government’s required capital
            akhir kebutuhan rekapitalisasi Bank sebesar                      contribution to the Bank amounting to
            Rp13.843.540 dan pelaksanaan hak-hak                             Rp13,843,540 and implementation of the
            pemerintah yang timbul sebagai akibat                            Government’s rights as a result of the additional
            penambahan penyertaan modal negara                               contributed capital by the Republic of Indonesia
            Republik Indonesia ke dalam modal PT Bank                        to the capital of PT Bank Tabungan Negara
            Tabungan Negara (Persero) dalam rangka                           (Persero), as a limited liability company, in
            program rekapitalisasi bank umum dengan                          relation    to     the     commercial     banks’
            mengkonversi menjadi 13.843.540 lembar                           recapitalization program through conversion of
            saham yang diterbitkan oleh Bank dengan                          additional capital to 13,843,540 shares of stock,
            nominal Rp1.000.000 (Rupiah penuh) per                           which were issued by the Bank with a par value
            lembar. Peraturan ini berdaya laku surut sejak                   of Rp1,000,000 (full Rupiah) per share. This
            tanggal 31 Mei 2007.                                             regulation was applied retroactively since
                                                                             May 31, 2007.




                                                             17
Page 414
                                                                                               The original financial statements included herein are in the
                                                                                                                                     Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                     PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                             As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                       and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                          (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                                 unless otherwise stated)


1.     UMUM (lanjutan)                                                                    1.     GENERAL (continued)
       c.     Penerbitan Surat Berharga Bank                                                    c.      Issuance of Bank Securities
              Bank telah menerbitkan obligasi sebanyak                                                  The Bank issued 25 (twenty-five) series of
              25 (dua puluh lima) kali penerbitan, 1 (satu)                                             bonds, 1 (one) series of subordinated bond, 1
              kali penerbitan instrumen obligasi subordinasi,                                           (one) series of global, 7 (seven) series of long
              1 (satu) kali penerbitan global bond, 7 (tujuh)                                           term notes, 2 (two) sukuk mudharabah from
              kali penerbitan surat hutang jangka panjang, 2                                            July 25, 1989 to December 31, 2023, with the
              (dua) kali penerbitan sukuk mudharabah sejak                                              details as follows:
              tanggal 25 Juli 1989 sampai dengan tanggal
              31 Desember 2023 dengan rincian sebagai
              berikut:
                Nama Obligasi/            Jumlah Nominal/              Jangka Waktu/              Jatuh Tempo/                            Tingkat Bunga/
                Name of Bonds             Nominal Amount                   Term                   Maturity Date                              Interest

            Rupiah
            Obligasi BTN I/                               50.000         5 tahun/years                            25 Juli/                                    18,75% tetap/
            BTN Bonds I                                                                                    July 25, 1994*)                                           fixed

            Obligasi BTN II/                              50.000          5 tahun/years                            1 Juni/                                   16,25% tetap/
            BTN Bonds II                                                                                    June 1,1995*)                                            fixed

            Obligasi BTN III/                             50.000          5 tahun/years                   11 November/                                       20,00% tetap/
            BTN Bonds III                                                                            November 11, 1996*)                                             fixed

            Obligasi BTN IV/                             100.000          5 tahun/years                       23 Januari/                                    17,00% tetap/
            BTN Bonds IV                                                                               January 23, 1996*)                                            fixed

            Obligasi BTN V/                              150.000          5 tahun/years                           31 Juli/             15,25% tetap untuk tahun pertama
            BTN Bonds V                                                                                    July 31,1998*)                 dan kedua, mengambang untuk
                                                                                                                                     tahun berikutnya hingga jatuh tempo/
                                                                                                                                         15.25% fixed for first and second
                                                                                                                                             years, in for remaining years
                                                                                                                                                              until maturity

            Obligasi BTN VI/                             350.000          5 tahun/years                   21 Desember/                 17,25% tetap untuk tahun pertama,
            BTN Bonds VI                                                                             December 21, 2000*)                        mengambang untuk tahun
                                                                                                                                           berikutnya hingga jatuh tempo/
                                                                                                                                        17.25% fixed for first year, floating
                                                                                                                                         for remaining years until maturity

            Obligasi BTN VII/                            200.000          5 tahun/years                            22 Juli/                    17,125% tetap untuk tahun
            BTN Bonds VII                                                                                  July 22, 2001*)                   pertama, mengambang untuk
                                                                                                                                     tahun berikutnya hingga jatuh tempo/
                                                                                                                                       17.125% fixed for first year, floating
                                                                                                                                         for remaining years until maturity

            Obligasi BTN VIII/                           400.000          5 tahun/years                            18 Juli/                                  14,15% tetap/
            BTN Bonds VIII                                                                                 July 18, 2002*)                                           fixed

            Obligasi BTN IX/                             750.000          5 tahun/years                       2 Oktober/                                     12,50% tetap/
            BTN Bonds IX                                                                                October 2, 2008*)                                            fixed

            Obligasi BTN X/                              750.000          5 tahun/years                           25 Mei/                                    12,20% tetap/
            BTN Bonds X                                                                                    May 25, 2009*)                                            fixed

            Obligasi BTN XI/                             750.000          5 tahun/years                              6 Juli/                                 12,00% tetap/
            BTN Bonds XI                                                                                    July 6, 2010*)                                           fixed

            Obligasi BTN XII/                          1.000.000         10 tahun/years                    19 September/                                     12,75% tetap/
            BTN Bonds XII                                                                            September 19, 2016*)                                            fixed

            Obligasi BTN XIII A/                         300.000          3 tahun/years                           29 Mei/                                    11,75% tetap/
            BTN Bonds XIII A                                                                               May 29, 2012*)                                            fixed

            Obligasi BTN XIII B/                         300.000          4 tahun/years                           29 Mei/                                    12,00% tetap/
            BTN Bonds XIII B                                                                               May 29, 2013*)                                            fixed

            Obligasi BTN XIII C/                         900.000          5 tahun/years                           29 Mei/                                    12,25% tetap/
            BTN Bonds XIII C                                                                               May 29, 2014*)                                            fixed

            Obligasi BTN XIV/                          1.650.000         10 tahun/years                          11 Juni/                                    10,25% tetap/
            BTN Bonds XIV                                                                                 June 11, 2020*)                                            fixed

            Obligasi BTN XV/                           1.300.000         10 tahun/years                          28 Juni/                                      9,50% tetap/
            BTN Bonds XV                                                                                  June 28, 2021*)                                             fixed

            Obligasi Berkelanjutan I                   2.000.000         10 tahun/years                            5 Juni/                                     7,90% tetap/
                 Tahap I BTN/                                                                              June 5, 2022*)                                             fixed
            Continuing Bonds I
                 Phase I BTN

              *) Bank telah melakukan pelunasan obligasi yang diterbitkan pada                          *) The Bank has made the repayment of bonds issued on maturity date.
                 tanggal jatuh temponya.


                                                                                 18
Page 415
                                                                                              The original financial statements included herein are in the
                                                                                                                                    Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                    PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                            As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                      and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                         (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                                unless otherwise stated)


1.     UMUM (lanjutan)                                                                   1.    GENERAL (continued)

       c.    Penerbitan Surat Berharga Bank (lanjutan)                                         c.   Issuance of Bank Securities (continued)
             Bank telah menerbitkan obligasi sebanyak                                               The Bank issued 25 (twenty-five) series of
             25 (dua puluh lima) kali penerbitan, 1 (satu)                                          bonds, 1 (one) series of subordinated bond, 1
             kali penerbitan instrumen obligasi subordinasi,                                        (one) series of global, 7 (seven) series of long
             1 (satu) kali penerbitan global bond, 7 (tujuh)                                        term notes, 2 (two) sukuk mudharabah from
             kali penerbitan surat hutang jangka panjang, 2                                         July 25, 1989 to December 31, 2023, with the
             (dua) kali penerbitan sukuk mudharabah sejak                                           details as follows: (continued)
             tanggal 25 Juli 1989 sampai dengan tanggal
             31 Desember 2023 dengan rincian sebagai
             berikut: (lanjutan)
             Nama Obligasi/               Jumlah Nominal/             Jangka Waktu/              Jatuh Tempo/                         Tingkat Bunga/
               Name of Bonds              Nominal Amount                  Term                   Maturity Date                           Interest

            Rupiah
            Obligasi Berkelanjutan I                  2.000.000         10 tahun/years                      27 Maret/                                       7,90% tetap/
                Tahap II BTN/                                                                        March 27, 2023*)                                              fixed
            Continuing Bonds I
                Phase II BTN

            Obligasi Berkelanjutan II
                Tahap I BTN/
            Continuing Bonds II
                Phase I BTN
                     Seri A/A Series                    900.000          3 tahun/years                           8 Juli/                                    9,63% tetap/
                                                                                                        July 8, 2018*)                                             fixed
                     Seri B/B Series                    500.000          5 tahun/years                           8 Juli/                                    9,88% tetap/
                                                                                                        July 8, 2020*)                                             fixed
                     Seri C/C Series                    800.000          7 tahun/years                           8 Juli/                                   10,00% tetap/
                                                                                                        July 8, 2022*)                                             fixed
                     Seri D/D Series                    800.000         10 tahun/years                           8 Juli/                                   10,50% tetap/
                                                                                                         July 8, 2025                                              fixed

            Obligasi Berkelanjutan II
                Tahap II BTN/
            Continuing Bonds II
                Phase II BTN
                     Seri A/A Series                  1.347.000          3 tahun/years                   30 Agustus/                                        8,20% tetap/
                                                                                                    August 30, 2019*)                                              fixed
                     Seri B/B Series                  1.653.000          5 tahun/years                   30 Agustus/                                        8,75% tetap/
                                                                                                    August 30, 2021*)                                              fixed

            Obligasi Berkelanjutan III
                Tahap I BTN/
            Continuing Bonds III
                Phase I BTN
                     Seri A/A Series                  1.466.000          3 tahun/years                         13 Juli/                                     8,30% tetap/
                                                                                                       July 13, 2020*)                                             fixed
                     Seri B/B Series                  1.295.000          5 tahun/years                         13 Juli/                                      8,50% tetap
                                                                                                       July 13, 2022*)                                             fixed
                     Seri C/C Series                    853.000          7 tahun/years                         13 Juli/                                     8,70% tetap/
                                                                                                        July 13, 2024                                              fixed
                     Seri D/D Series                  1.386.000         10 tahun/years                         13 Juli/                                     8,90% tetap/
                                                                                                        July 13, 2027                                              fixed

            Obligasi Berkelanjutan III
                Tahap II BTN/
            Continuing Bonds III
                Phase II BTN
                     Seri A/A Series                  1.756.500          1 tahun/year                            8 Juli/                                    7,75% tetap/
                                                                                                        July 8, 2020*)                                             fixed
                     Seri B/B Series                  1.168.000          3 tahun/years                        28 Juni/                                       8,75% tetap
                                                                                                      June 28, 2022*)                                              fixed
                     Seri C/C Series                  1.219.500          5 tahun/years                        28 Juni/                                      9,00% tetap/
                                                                                                       June 28, 2024                                               fixed

            Obligasi Subordinasi BTN I/                 250.000         10 tahun/years                        25 Mei/               12,60% tetap untuk tahun pertama
            Subordinated Bonds BTN I                                                                  May 25, 2014**)              sampai tahun kelima, 22,60% tetap
                                                                                                                                    untuk tahun keenam sampai tahun
                                                                                                                                 kesepuluh jika Bank tidak melakukan
                                                                                                                                     opsi beli pada tahun kelima sejak
                                                                                                                                                     tanggal penerbitan/
                                                                                                                                    12.60% fixed for first year until fifth
                                                                                                                                      year, 22.60% fixed for sixth year
                                                                                                                                   until tenth year if the Bank does not
                                                                                                                              exercise its option to buyback on the fifth
                                                                                                                                           year since the issuance date


             *) Bank telah melakukan pelunasan obligasi yang diterbitkan pada                       *) The Bank has made the repayment of bonds issued on maturity date.
                 tanggal jatuh temponya.
             **) Bank telah melakukan opsi beli kembali pada 25 Mei 2009                            **) The Bank has exercised the call options on May 25, 2009


                                                                                19
Page 416
                                                                                               The original financial statements included herein are in the
                                                                                                                                     Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                     PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                             As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                       and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                          (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                                 unless otherwise stated)


1.     UMUM (lanjutan)                                                                    1.    GENERAL (continued)

       c.     Penerbitan Surat Berharga Bank (lanjutan)                                         c.    Issuance of Bank Securities (continued)
              Bank telah menerbitkan obligasi sebanyak                                                The Bank issued 25 (twenty-five) series of
              25 (dua puluh lima) kali penerbitan, 1 (satu)                                           bonds, 1 (one) series of subordinated bond, 1
              kali penerbitan instrumen obligasi subordinasi,                                         (one) series of global, 7 (seven) series of long
              1 (satu) kali penerbitan global bond, 7 (tujuh)                                         term notes, 2 (two) sukuk mudharabah from
              kali penerbitan surat hutang jangka panjang, 2                                          July 25, 1989 to December 31, 2023, with the
              (dua) kali penerbitan sukuk mudharabah sejak                                            details as follows: (continued)
              tanggal 25 Juli 1989 sampai dengan tanggal
              31 Desember 2023 dengan rincian sebagai
              berikut: (lanjutan)
                Nama Obligasi/            Jumlah Nominal/              Jangka Waktu/              Jatuh Tempo/                       Tingkat Bunga/
                Name of Bonds             Nominal Amount                   Term                   Maturity Date                         Interest

            Rupiah
            Obligasi Berkelanjutan IV
                Tahap I BTN/
            Continuing Bonds IV
                Phase I BTN
                     Seri A/A Series                     577.000          1 tahun/year                      29 Agustus/                                    6,75% tetap/
                                                                                                       August 29, 2021*)                                          fixed
                     Seri B/B Series                     727.000          3 tahun/years                     19 Agustus/                                     7,80% tetap
                                                                                                       August 19, 2023*)                                          fixed
                     Seri C/C Series                     196.000          5 tahun/years                     19 Agustus/                                    8,40% tetap/
                                                                                                        August 19, 2025                                           fixed
            Surat Hutang Jangka Panjang BTN               10.186         16 tahun/years                         17 Juni/                                   1,37% tetap/
                 Tahap I 2021/                                                                            June 17, 2037                                           fixed
            Long Term Notes BTN
                 Phase 1 2021
            Surat Hutang Jangka Panjang BTN               47.740         14 tahun/years                     12 Oktober/                                    1,37% tetap/
                 Seri A 2022/                                                                          October 12, 2036                                           fixed
            Long Term Notes BTN
                 Series A 2022
            Surat Hutang Jangka Panjang BTN               79.379         15 tahun/years                         12 April/                                  0,55% tetap/
                 Seri B 2022/                                                                             April 12, 2037                                          fixed
            Long Term Notes BTN
                 Series B 2022
            Surat Hutang Jangka Panjang BTN              210.866         15 tahun/years                         14 Juni/                                   0,55% tetap/
                 Tahap I 2022.                                                                            June 14, 2037                                           fixed
            Long Term Notes BTN
                 Phase I 2022
            Surat Hutang Jangka Panjang BTN              131.185         14 tahun/years                       28 Maret/                                    0,55% tetap/
                 Tahap II 2022/                                                                          March 28, 2037                                           fixed
            Long Term Notes BTN
                 Phase II 2022
            Surat Hutang Jangka Panjang BTN               35.898         14 tahun/years                         28 April/                                  0,55% tetap/
                 Tahap I 2023/                                                                            April 28, 2037                                          fixed
            Long Term Notes BTN
                 Phase I 2023
            Surat Hutang Jangka Panjang BTN              404.745         14 tahun/years                   15 September/                                    1,37% tetap/
                 Tahap II 2023/                                                                      September 15, 2037                                           fixed
            Long Term Notes BTN
                 Phase II 2023
            Surat Hutang Jangka Panjang BTN                6.242         15 tahun/years                  27 December/                                      0,55% tetap/
                 Seri A 2023/                                                                        December 27, 2038                                            fixed
            Long Term Notes BTN
                 Series A 2023
            Surat Hutang Jangka Panjang BTN              234.542         14 tahun/years                  27 December/                                      1,37% tetap/
                 Seri B 2023/                                                                        December 27, 2037                                            fixed
            Long Term Notes BTN
                 Series B 2023
            Obligasi Berkelanjutan IV
                  Tahap II BTN/
            Continuing Bonds IV
                  Phase II BTN
                      Seri A/A Series                    600.000          3 tahun/year                          24 Mei/                                    5,50% tetap/
                                                                                                           May 24, 2025                                           fixed
                     Seri B/B Series                     400.000          5 tahun/years                         24 Mei/                                    6,00% tetap/
                                                                                                           May 24, 2027                                           fixed


              *) Bank telah melakukan pelunasan obligasi yang diterbitkan pada                        *) The Bank has made the repayment of bonds issued on maturity date.
                  tanggal jatuh temponya.
              **) Bank telah melakukan opsi beli kembali pada 25 Mei 2009                             **) The Bank has exercised the call options on May 25, 2009




                                                                                 20
Page 417
                                                                                                 The original financial statements included herein are in the
                                                                                                                                       Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                               As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                         and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                            (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                                   unless otherwise stated)


1.     UMUM (lanjutan)                                                                      1.    GENERAL (continued)
       c.    Penerbitan Surat Berharga Bank (lanjutan)                                            c.    Issuance of Bank Securities (continued)
             Bank telah menerbitkan obligasi sebanyak                                                   The Bank issued 25 (twenty-five) series of
             25 (dua puluh lima) kali penerbitan, 1 (satu)                                              bonds, 1 (one) series of subordinated bond, 1
             kali penerbitan instrumen obligasi subordinasi,                                            (one) series of global, 7 (seven) series of long
             1 (satu) kali penerbitan global bond, 7 (tujuh)                                            term notes, 2 (two) sukuk mudharabah from
             kali penerbitan surat hutang jangka panjang, 2                                             July 25, 1989 to December 31, 2023, with the
             (dua) kali penerbitan sukuk mudharabah sejak                                               details as follows: (continued)
             tanggal 25 Juli 1989 sampai dengan tanggal
             31 Desember 2023 dengan rincian sebagai
             berikut: (lanjutan)
               Nama Obligasi/             Jumlah Nominal/               Jangka Waktu/               Jatuh Tempo/                        Tingkat Bunga/
               Name of Bonds              Nominal Amount                    Term                    Maturity Date                          Interest

            Rupiah
            Sukuk BTN I Tahun 2023                         92.553        15,5 tahun/years                     28 Oktober/                                          11,00%***
                Tahap I/                                                                                 October 28, 2036
            Sukuk BTN Phase I 2023
            Sukuk BTN I Tahun 2023                        175.039         13 tahun/years                   27 Desember/                                           27,40%****
                Tahap II/                                                                              December 27, 2036
            Sukuk BTN Phase II 2023
            Dolar Amerika Serikat/United States Dollar
            BBTN September or Global Bond 2020/     300.000.000            5 tahun/years                      23 Januari/                                       4,20% tetap/
            BBTN September or Global Bond 2020                                                           January 23, 2025                                              fixed
             ***) 11% dari pendapatan yang dibagi hasilkan dengan indikasi bagi                         ***) 11% of the income generated with the indication of profit sharing of
                 hasil sebesar 0,55% per tahun.                                                               0.55% per year
             ****) 27,40% dari pendapatan yang dibagi hasilkan dengan indikasi                          ***) 27.40% of the income generated with the indication of profit sharing
                 bagi hasil sebesar 1,37% per tahun.                                                          of 1.37% per year

       d.    Penawaran Umum Saham Perdana (IPO)                                                   d.    Initial Public Offering (IPO)
             Bank telah memperoleh izin untuk melakukan                                                 The Bank obtained a permit to undertake a
             Penawaran      Umum      sesuai    dengan                                                  Public Offering based on the approval of the
             persetujuan Dewan Perwakilan Rakyat                                                        House of Representatives of the Republic
             Republik Indonesia yang tertuang dalam                                                     of Indonesia in its Chairman Letter
             Surat Ketua Dewan Perwakilan Rakyat                                                        No. PW.01/3104/DPRRI/V/2009 dated May 29,
             Republik     Indonesia     No.PW.01/3104/                                                  2009 and was enacted by the Government as
             DPRRI/V/2009 tanggal 29 Mei 2009, serta                                                    stipulated by the Republic of Indonesia
             penetapan dari Pemerintah sebagaimana                                                      Government Regulation No. 66 of 2009 and
             tertuang dalam Peraturan Pemerintah                                                        circulated in State Gazette No. 167 dated
             Republik Indonesia No. 66 tahun 2009 dan                                                   November 16, 2009 regarding the amendment
             diundangkan dalam Lembaran Negara                                                          of the stock ownership structure of the State
             No.167 tanggal 16 November 2009 tentang                                                    through Initial Public Offering of the shares of
             Perubahan Struktur Kepemilikan Saham                                                       PT Bank Tabungan Negara (Persero).
             Negara Melalui Penerbitan dan Penjualan
             Saham Baru Pada PT Bank Tabungan
             Negara (Persero).
             Berdasarkan Surat Badan Pengawas Pasar                                                     Based on Letter No. S-10523/BL/2009 of the
             Modal dan Lembaga Keuangan (BAPEPAM-                                                       Capital Market and Financial Institutions
             LK)     No.    S-10523/BL/2009      tanggal                                                Supervisory Agency (BAPEPAM-LK) dated
             8 Desember 2009, pernyataan pendaftaran                                                    December 8, 2009, the Registration Statement
             yang diajukan Bank dalam rangka IPO                                                        submitted by the Bank relating to the IPO of
             sejumlah 6.353.999.999 lembar Saham Biasa                                                  6,353,999,999 ordinary shares Series B of the
             Atas Nama Seri B milik Negara Republik                                                     Republic of Indonesia and 2,360,057,000 new
             Indonesia dan 2.360.057.000 lembar Saham                                                   ordinary shares Series B, at par value of Rp500
             Biasa Atas Nama Seri B baru, dengan nilai                                                  (full Rupiah) per share to the public, became
             nominal sebesar Rp500 (Rupiah penuh)                                                       effective on December 8, 2009. The shares
             setiap saham kepada masyarakat telah                                                       which were offered to the public, were listed and
             menjadi      efektif     pada       tanggal                                                traded on the Indonesia Stock Exchange on
             8 Desember 2009. Saham yang ditawarkan                                                     December 17, 2009, with the selling price of
             tersebut     dicatatkan      dan      mulai                                                Rp800 (full Rupiah) per share.
             diperdagangkan di Bursa Efek Indonesia pada
             tanggal 17 Desember 2009 dengan harga jual
             Rp800 (Rupiah penuh) per saham.

                                                                                  21
Page 418
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


1.     UMUM (lanjutan)                                           1.    GENERAL (continued)

       d.   Penawaran Umum Saham Perdana (IPO)                          d.    Initial Public Offering (IPO) (continued)
            (lanjutan)

            Berkaitan dengan penawaran umum saham                            In relation to the Initial Public Offering of the
            perdana, Bank telah mengimplementasikan                          shares,      the   Bank      implemented      the
            program kepemilikan saham oleh Manajemen                         Management and Employee Stock Allocation
            dan Karyawan (Management and Employee                            (MESA) program. MESA program is allocated
            Stock Allocation/MESA). Program MESA                             with a maximum of 9.62% of the newly issued
            diberikan maksimal 9,62% dari saham baru                         shares for registered employees as of
            yang diterbitkan kepada karyawan yang                            December 31, 2009. The MESA Program
            tercatat pada tanggal 31 Desember 2009.                          became effective on September 17, 2009 and
            Program MESA tersebut telah efektif pada                         all qualified employees availed of the program
            tanggal 17 September 2009 dan seluruh                            consisting of 226,928,500 Series B shares (with
            karyawan yang memiliki kualifikasi telah                         par value of Rp500 per share) with a purchase
            mengambil program tersebut dengan jumlah                         price of Rp640 per share (after share price
            lembar saham biasa atas nama Seri B                              discount of 20% from the initial public offering
            sebanyak 226.928.500 lembar (nilai nominal                       price of Rp800 per share) and a lock up period
            Rp500 per lembar saham) dengan harga beli                        until six months.
            Rp640 per lembar saham (setelah diskon 20%
            dari harga penawaran perdana sebesar
            Rp800 per lembar saham) dengan masa lock
            up selama enam bulan.

            Diskon harga saham untuk program MESA                            In relation to the Initial Public Offering of the
            menjadi beban Bank di tahun 2009, yaitu                          share price discount for MESA program was
            sebesar 20% atau Rp41.353, yang termasuk                         recognized as the Bank’s expense in 2009,
            beban pajak penghasilan.                                         amounting to 20% or Rp41,353 including the
                                                                             income tax expense.

       e.   Program Opsi Kepemilikan Saham untuk                       e.    Management & Employee Stock Option Plan
            Manajemen dan Karyawan                                           (MESOP)

            Sesuai dengan RUPS Luar Biasa tanggal 12                         In accordance with the Extraordinary GMS on
            Oktober 2009, pemegang saham menyetujui                          12 October 2009, shareholders approved the
            penerbitan    saham    opsi    sebanyak                          issuance of 363,085,500 share options which
            363.085.500 lembar saham yang akan                               will be implemented in 3 (three) stages. Stock
            dilaksanakan dalam 3 (tiga) tahap. Opsi                          options are granted to management and
            saham diberikan kepada manajemen dan                             employees in certain positions and titles who
            karyawan pada posisi dan jabatan tertentu                        meet the specified requirements (Management
            yang memenuhi Persyaratan yang telah                             & Employee Stock Option Plan (MESOP)).
            ditetapkan (Management & Employee Stock
            Option Plan (MESOP)).

            Manajemen dan karyawan Bank telah                                The Bank's management and employees have
            melakukan eksekusi atas opsi saham yang                          executed share options starting in 2011 with
            dimulai tahun 2011 dengan rincian untuk                          details for MESOP I with the end of the option
            MESOP I dengan akhir hak opsi pada tahun                         rights in 2014 amounting to 145,234,500,
            2014 sebanyak 145.234.500, MESOP II                              MESOP II with the end of the option rights in
            dengan akhir hak opsi pada tahun 2015                            2015 amounting to 108,925,500 shares, and
            sebanyak 108.925.500 lembar saham, dan                           MESOP III with the end of the option rights in
            MESOP III dengan akhir hak opsi pada tahun                       2016 amounting to 108,925,500 shares. The
            2016 sebanyak 108.925.500 lembar saham.                          agio from the execution in 2011 was Rp94,733,
            Agio yang timbul dari eksekusi tersebut untuk                    in 2012 it was Rp6,349, in 2013 it was
            tahun 2011 adalah sebesar Rp94.733, tahun                        Rp232,261, in 2014 it was Rp2,372, in 2015 it
            2012 adalah sebesar Rp6.349, tahun 2013                          was Rp18,462, in 2016 it was amounting to
            adalah sebesar Rp232.261, tahun 2014                             Rp7,856.
            adalah sebesar Rp2.372, tahun 2015 adalah
            sebesar Rp18.462, tahun 2016 adalah
            sebesar Rp7.856.
                                                            22
Page 419
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


1.     UMUM (lanjutan)                                            1.    GENERAL (continued)
       f.   Penawaran Umum Saham Terbatas I                             f.   Limited Public Offering I
            Untuk memperkuat struktur permodalan,                            To Strengthen the capital structure, through the
            melalui persetujuan Rapat Umum Pemegang                          approval of the Extraordinary General Meeting
            Saham Luar Biasa tanggal 7 November 2012                         of Shareholders on November 7, 2012 and on
            dan Surat Badan Pengawas Pasar Modal dan                         Letter No. S-13001/BL/2012 of the Capital
            Lembaga Keuangan (BAPEPAM-LK) No. S-                             Market and Financial Institutions Supervisory
            13001/BL/2012 tanggal 6 November 2012,                           Agency (BAPEPAM-LK) dated November 6,
            Bank melakukan Penawaran Umum Terbatas                           2012, the Bank undertook a Limited Public
            I (“PUT I”) dalam rangka penerbitan Hak                          Offering I (“LPO I”) through the issuance of pre-
            Memesan Efek Terlebih Dahulu (HMETD)                             emptive rights of 1,512,857,500 Class B shares
            sebanyak 1.512.857.500 saham Seri B                              with a par value per share of Rp500 (full
            dengan nilai nominal sebesar Rp500 (nilai                        amount). Each holder of 555,000 share was
            penuh) setiap saham. Setiap pemegang                             entitled to buy 94,943 new shares for
            555.000 saham lama berhak membeli 94.943                         Rp1,235.00 (full amount) per share. As a result
            saham baru dengan harga Rp1.235,00 (nilai                        of LPO I, the Bank increased its capital by
            penuh) setiap saham. Dari PUT I ini, Bank                        1,512,857,500 Class B shares issued to the
            meningkatkan modal sahamnya sebanyak                             public on December 04, 2012 and the LPO I
            1.512.857.500 lembar saham Seri B yang                           listed in the Indonesia Stock Exchanges.
            diterbitkan kepada masyarakat umum pada
            tanggal 4 Desember 2012 dan terdaftar di
            Bursa Efek Indonesia.
       g.   Penawaran Umum Saham Terbatas II                            g.   Limited Public Offering II
            Untuk memperkuat struktur permodalan,                            To Strengthen the capital structure, through the
            melalui persetujuan Rapat Umum Pemegang                          approval of the Extraordinary General Meeting
            Saham Luar Biasa tanggal 18 Oktober 2022                         of Shareholders on October 18, 2022 and Letter
            dan surat OJK No. S-264/D.04/2022 tanggal                        from OJK No. S-264/D.04/2022 dated
            14 Desember 2022 perihal Pemberitahuan                           December 14, 2022 about Notification of
            Efektifnya Pernyataan Pendaftaran, Bank                          Effectiveness of Registration Statement, the
            melakukan Penawaran Umum Terbatas II                             Bank undertook a Limited Public Offering II
            (“PUT II”) dalam rangka penerbitan Hak                           (“LPO II”) through the issuance of pre-emptive
            Memesan Efek Terlebih Dahulu (HMETD)                             rights of 3,444,444,413 Class B shares with a
            sebanyak 3.444.444.413 saham Seri B                              par value per share of Rp500 (full amount).
            dengan nilai nominal sebesar Rp500 (nilai                        Each holder of 100,000,000 share was entitled
            penuh) setiap saham. Setiap pemegang                             to buy 32,525,443 new shares for Rp1,200.00
            100.000.000 saham lama berhak membeli                            (full amount) per share. As a result of LPO II,
            32.525.443 saham baru dengan harga                               the Bank increased its capital by 3,444,444,413
            Rp1.200,00 (nilai penuh) setiap saham. Dari                      Class B shares issued to the public on January
            PUT II ini, Bank meningkatkan modal                              10, 2023 and the LPO II listed in the Indonesia
            sahamnya sebanyak 3.444.444.413 lembar                           Stock Exchanges.
            saham Seri B yang diterbitkan kepada
            masyarakat umum pada tanggal 10 Januari
            2023 dan terdaftar di Bursa Efek Indonesia.
       h.   Penerapan kuasi reorganisasi                                h.   Implementation of quasi - reorganization
            Kondisi ekonomi yang buruk yang terjadi                            The unfavorable economic condition starting
            sejak pertengahan tahun 1997 sampai                                in mid-1997 until 1999, which was caused
            dengan tahun 1999, yang disebabkan                                 mainly by the weakening of the rupiah in
            terutama oleh melemahnya kurs mata uang                            relation to other foreign currencies such as
            rupiah terhadap mata uang asing, seperti                           the United States dollar, the instability of
            dolar Amerika Serikat dan tingkat suku bunga                       interest rates, liquidity problem and the low
            yang tidak stabil, sangat langkanya likuiditas                     level of trust by investors, had an adverse
            serta menurunnya tingkat kepercayaan                               impact to the banking industry in Indonesia.
            investor, telah memberikan dampak yang                             This condition also affected the Bank debtors
            buruk bagi industri perbankan di Indonesia.                        in fulfilling their obligations. As a result, the
            Kondisi tersebut juga berdampak pada para                          Bank suffered a significant amount of deficit.
            debitur Bank dalam memenuhi kewajibannya,
            sehingga Bank mengalami defisit yang cukup
            besar.

                                                             23
Page 420
                                                                                           The original financial statements included herein are in the
                                                                                                                                 Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                         As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                   and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                      (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                             unless otherwise stated)


1.     UMUM (lanjutan)                                                                1.    GENERAL (continued)

       h.       Penerapan kuasi reorganisasi (lanjutan)                                     h.     Implementation of quasi – reorganization
                                                                                                   (continued)

                Untuk memperoleh awal yang baik (fresh                                            In order to make a fresh start with a statement
                start) dengan laporan posisi keuangan yang                                        of financial position showing present values
                menunjukkan nilai sekarang dan tidak                                              without the burden of deficit, the Bank
                dibebani    oleh    defisit,  maka     Bank                                       conducted     a     Quasi-Reorganization     on
                melaksanakan      Kuasi-Reorganisasi     per                                      May 31, 2007 (Note 2c). The Quasi-
                31 Mei 2007 (Catatan 2c). Kuasi-Reorganisasi                                      Reorganization was recognized by the Bank as
                dilakukan Bank sebagai langkah penting                                            a necessary step to positively continue its
                untuk bisa meneruskan usaha secara lebih                                          business.
                baik.

                Dalam Rapat Umum Pemegang Saham                                                   In the Bank’s General Stockholders’ Meeting
                (RUPS) Bank tentang Pengesahan Rencana                                            held on January 19, 2006 regarding the
                Kerja dan Anggaran Perusahaan tanggal                                             Approval of the Bank’s Budget and Work Plan,
                19 Januari 2006, pemegang saham Bank                                              the stockholders approved, among others, the
                memutuskan antara lain bahwa pemegang                                             Bank’s plan to conduct the Quasi-
                saham mendukung rencana Bank untuk                                                Reorganization in order to determine the final
                melakukan Kuasi-Reorganisasi dalam rangka                                         amount of the Government’s capital contribution
                menetapkan besarnya nilai akhir Penyertaan                                        and to restructure the Bank’s capital, which
                Modal Negara dalam Bank dan perbaikan                                             should be implemented according to the
                struktur modal Bank, dan agar dilaksanakan                                        prevailing regulations.
                sesuai dengan ketentuan yang berlaku.

                Sebagai hasil dari Kuasi-Reorganisasi, saldo                                      As a result of the quasi-reorganization, the
                defisit Bank sebesar Rp14.226.290 dieliminasi                                     Bank’s   deficit    balance   amounting   to
                ke akun saldo laba.                                                               Rp14,226,290 was eliminated against the net
                                                                                                  amount of the retained earnings.

      i.    Dewan    Komisaris, Direksi, Dewan                                              i.   Boards of Commissioners, Directors, Sharia
            Pengawas Syariah, Komite Audit dan                                                   Supervisory Board, Audit Committee and
            Karyawan                                                                             Employees

            Berdasarkan Rapat Umum Pemegang Saham                                                Based on the Bank’s The Annual General
            Tahunan (RUPST) Bank tanggal 16 Maret                                                Meeting of Shareholders held on March 16,
            2023, dengan berita acara No. 16 yang dibuat                                         2023, as stated under the notarial No. 16 by
            oleh Notaris Ashoya Ratam, SH., MKn,                                                 Notary Ashoya Ratam, SH., MKn, the
            susunan Dewan Komisaris Bank adalah                                                  composition of the Bank’s Board of
            sebagai berikut:                                                                     Commissioners are as follows:
            31 Desember 2023                                                                                    December 31, 2023
            Komisaris Utama/Independen                                Chandra M. Hamzah         President/Independent Commissioner
            Wakil Komisaris Utama/Independen                             Iqbal Latanro     Vice President/Independent Commissioner
            Komisaris Independen                                     Armand Bachtiar Arief                Independent Commissioner
            Komisaris Independen                                     Ahdi Jumhari Luddin**                Independent Commissioner
            Komisaris Independen                                       Sentot A. Sentausa                 Independent Commissioner
            Komisaris                                                   Andin Hadiyanto                               Commissioner
            Komisaris                                                Herry Trisaputra Zuna                            Commissioner
            Komisaris                                                Himawan Arief Sugoto                             Commissioner
            Komisaris                                               Mohamad Yusuf Permana*                            Commissioner
            *   Diangkat sebagai anggota Dewan Komisaris PT Bank Tabungan                    *   Appointed as a member of Board of Commissioners of PT Bank
                Negara (Persero) Tbk berdasarkan hasil keputusan RUPS Luar                       Tabungan Negara (Persero) Tbk based on the Annual General Meeting
                Biasa Perseroan tanggal 11 Januari 2023 dan telah efektif pada                   of Shareholders dated January 11, 2023 and has been effective on June
                tanggal 07 Juni 2023 berdasarkan Keputusan Dewan Komisioner                      7, 2023 based on Financial Service Authority’s Decision No. KEPR-
                OJK No. KEPR-46/D.03/2023 tanggal 07 Juni 2023.                                  46/D.03/2023 dated June 7, 2023.
            ** Berakhir masa jabatan tanggal 12 Agustus 2023 karena meninggal                ** Ends of term of positions on August 12, 2023 due to passed away.
                dunia.




                                                                                 24
Page 421
                                                                                             The original financial statements included herein are in the
                                                                                                                                   Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                           As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                     and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                        (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                               unless otherwise stated)


1.    UMUM (lanjutan)                                                                   1.    GENERAL (continued)
      i.       Dewan    Komisaris, Direksi, Dewan                                             i.       Boards of Commissioners, Directors, Sharia
               Pengawas Syariah, Komite Audit dan                                                      Supervisory Board, Audit Committee and
               Karyawan (lanjutan)                                                                     Employees (continued)

               Berdasarkan Rapat Umum Pemegang Saham                                                   Based on the Bank’s The Annual General
               Tahunan (RUPST) Bank tanggal 2 Maret                                                    Meeting of Shareholders held on March 2,
               2022, dengan berita acara No. 04 yang dibuat                                            2022, as stated under the notarial No. 04 by
               oleh Notaris Ashoya Ratam, SH., MKn,                                                    Notary Ashoya Ratam, SH., MKn, the
               susunan Dewan Komisaris Bank adalah                                                     composition of the Bank’s Board of
               sebagai berikut:                                                                        Commissioners are as follows:
               31 Desember 2022                                                                                         December 31, 2022
               Komisaris Utama/Independen                                  Chandra M. Hamzah            President/Independent Commissioner
               Wakil Komisaris Utama/Independen                                Iqbal Latanro       Vice President/Independent Commissioner
               Komisaris                                                   Heru Budi Hartono****                              Commissioner
               Komisaris                                                      Andin Hadiyanto                                 Commissioner
               Komisaris                                                  Herry Trisaputra Zuna***                            Commissioner
               Komisaris                                                  Himawan Arief Sugoto**                              Commissioner
               Komisaris Independen                                        Armand Bachtiar Arief                  Independent Commissioner
               Komisaris Independen                                        Ahdi Jumhari Luddin                    Independent Commissioner
               Komisaris Independen                                          Sentot A. Sentausa*                  Independent Commissioner
           *   Diangkat sebagai Anggota Komisaris PT Bank Tabungan Negara                          *   Appointed as the Board of Commissioner of PT Bank Tabungan Negara
               (Persero) Tbk berdasarkan hasil keputusan RUPS Tahunan                                  (Persero) Tbk, based on the Annual General Meeting of Shareholder
               Perseroan tanggal 2 Maret 2022 dan telah efektif pada tanggal 8                         dated March 2, 2022 and has been effective on August 8, 2022 based
               Agustus 2022 berdasarkan Keputusan Dewan Komisioner OJK No.                             on Financial Service Authority’s Decision No. 31/KDK.03/2022 dated
               31/KDK.03/2022 tanggal 8 Agustus 2022.                                                  August 8, 2022.
           ** Diangkat sebagai Anggota Komisaris PT Bank Tabungan Negara                           ** Appointed as the Board of Commissioner of PT Bank Tabungan Negara
              (Persero) Tbk berdasarkan hasil keputusan RUPS Tahunan                                  (Persero) Tbk, based on the Annual General Meeting of Shareholder
              Perseroan tanggal 2 Maret 2022 dan telah efektif pada tanggal 3                         dated March 2, 2022 and has been effective on October 3, 2022 based
              Oktober 2022 berdasarkan Keputusan Dewan Komisioner OJK No.                             on Financial Service Authority’s Decision No. KEP-149/D.03/2022
              KEP-149/D.03/2022 tanggal 3 Oktober 2022.                                               dated October 3, 2022.
           *** Diangkat sebagai Anggota Komisaris PT Bank Tabungan Negara                          *** Appointed as the Board of Commissioner of PT Bank Tabungan Negara
               (Persero) Tbk berdasarkan hasil keputusan RUPS Tahunan                                  (Persero) Tbk, based on the Annual General Meeting of Shareholder
               Perseroan tanggal 2 Maret 2022 dan telah efektif pada tanggal 11                        dated March 2, 2022 and has been effective on October 11, 2022 based
               Oktober 2022 berdasarkan Keputusan Dewan Komisioner OJK No.                             on Financial Service Authority’s Decision No. KEP-162/D.03/2022
               KEP-162/D.03/2022 tanggal 11 Oktober 2022.                                              dated October 11, 2022.
           ****Berdasarkan Surat Perseroan No. 582/DIR/CSD/X/2022 perihal                     **** Based on Company Letter No. 582/DIR/CSD/X/2022 regarding Report
               Laporan Informasi atau Fakta Material tertanggal 14 Oktober 2022,                   on Material Information or Facts dated October 14, 2022, Heru Budi
               masa jabatan Heru Budi Hartono selaku anggota Dewan Komisaris                       Hartono's term of office as a member of the Company's Board of
               Perseroan berakhir sejak pelantikan dirinya menjadi Penjabat                        Commissioners ended since his inauguration as Acting Governor of the
               Gubernur Daerah Khusus Ibukota Jakarta pada tanggal 17 Oktober                      Special Capital Region of Jakarta on October 17, 2022. In connection
               2022. Sehubungan dengan berakhirnya masa jabatan Heru Budi                          with the expiration of Heru Budi Hartono, the Company will hold a
               Hartono tersebut, Perseroan akan menyelenggarakan Rapat                             General Meeting of Shareholders to comply with the provisions of the
               Umum Pemegang Saham untuk memenuhi ketentuan peraturan                              laws and regulations and the Company's articles of association.
               perundang-undangan dan anggaran dasar Perseroan.




                                                                                   25
Page 422
                                                                                             The original financial statements included herein are in the
                                                                                                                                   Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                          As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                    and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                       (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                              unless otherwise stated)


1.     UMUM (lanjutan)                                                                 1.        GENERAL (continued)
      i.   Dewan    Komisaris, Direksi, Dewan                                                    i.   Boards of Commissioners, Directors, Sharia
           Pengawas Syariah, Komite Audit dan                                                         Supervisory Board, Audit Committee and
           Karyawan (lanjutan)                                                                        Employees (continued)
           Berdasarkan Rapat Umum Pemegang Saham                                                      Based on the Bank’s The Annual General
           Tahunan (RUPST) Bank tanggal 16 Maret                                                      Meeting of Shareholders held on March 16,
           2023, dengan berita acara No. 16 yang dibuat                                               2023, as stated under the notarial No. 16 by
           oleh Notaris Ashoya Ratam, SH., MKn,                                                       Notary Ashoya Ratam, SH., MKn, the
           susunan Direksi Bank adalah sebagai berikut:                                               composition of the Bank’s Board of Directors
                                                                                                      are as follows:
           31 Desember 2023                                                                                                                 December 31, 2023
           Direktur Utama                                      Nixon Lambok Pahotan Napitupulu*                                               President Director
           Wakil Direktur Utama                                     Oni Febriarto Rahardjo**                                            Vice President Director
           Direktur IT and Digital                                        Andi Nirwoto                                                 Director of IT and Digital
           Direktur Assets Management                               Elisabeth Novie Riswanti                                   Director of Assets Management
           Direktur Distribution and Funding                                  Jasmin                                       Director of Distribution and Funding
           Direktur Risk Management                                      Setiyo Wibowo                                           Director of Risk Management
           Direktur Consumer                                             Hirwandi Gafar                                                   Director of Consumer
           Direktur Finance                                             Nofry Rony Poetra                                                       Director Finance
           Direktur Human Capital,                                                                                                  Director of Human Capital,
              Compliance and Legal                                          Eko Waluyo                                               Compliance and Legal
           Direktur Institutional Banking                                Hakim Putratama***                                    Director of Institutional Banking
           * Menerima pengalihan tugas sebagai Direktur Utama PT Bank Tabungan              * Receive assignment transfer as President Director of The Borad of Directors
              Negara (Persero) Tbk, berdasarkan hasil keputusan RUPS Tahunan                   of PT Bank Tabungan Negara (Persero) Tbk based on the Annual General
              Perseroan tanggal 16 Maret 2023 dan telah efektif pada tanggal 07                Meeting of Shareholders dated March 16, 2023 and has been effective on
              Juni 2023 berdasarkan Keputusan Dewan Komisioner OJK No. KEPR-                   June 7, 2023 based on Financial Service Authority’s Decision No. KEPR-
              44/D.03/2023 tanggal 07 Juni 2023.                                               44/D.03/2023 dated June 7, 2023.

           ** Diangkat sebagai Wakil Direktur Utama PT Bank Tabungan Negara                 **    Appointed as Vice President Director of PT Bank Tabungan Negara
              (Persero) Tbk berdasarkan hasil keputusan RUPS Tahunan Perseroan                   (Persero) Tbk based on the Annual General Meeting of Shareholders dated
              tanggal 16 Maret 2023 dan telah efektif pada tanggal 07 Juni 2023                  March 16, 2023 and has been effective on June 7, 2023 based on Financial
              berdasarkan Keputusan Dewan Komisioner OJK No. KEPR-                               Service Authority’s Decision No. KEPR-45/D.03/2023 dated June 7, 2023.
              45/D.03/2023 tanggal 07 Juni 2023.
                                                                                        *** Appointed as a member of Board of Directors of PT Bank Tabungan Negara
           *** Diangkat sebagai anggota Direksi PT Bank Tabungan Negara                     (Persero) Tbk based on the Annual General Meeting of Shareholders dated
              (Persero) Tbk berdasarkan hasil keputusan RUPS Tahunan Perseroan              March 16, 2023 and has been effective on July 26, 2023 based on Financial
              tanggal 16 Maret 2023 dan telah efektif pada tanggal 26 Juli 2023             Service Authority’s Decision No. KEPR-83/D.03/2023 dated July 26, 2023.
              berdasarkan Keputusan Dewan Komisioner OJK No. KEPR-
              83/D.03/2023 tanggal 26 Juli 2023.


           Berdasarkan Rapat Umum Pemegang Saham                                                      Based on the Bank’s The Annual General
           Tahunan (RUPST) Bank tanggal 2 Maret                                                       Meeting of Shareholders held on March 2,
           2022, dengan berita acara No. 04 yang dibuat                                               2022, as stated under the notarial No. 04 by
           oleh Notaris Ashoya Ratam, SH., MKn,                                                       Notary Ashoya Ratam, SH., MKn, the
           susunan Direksi Bank adalah sebagai berikut:                                               composition of the Bank’s Board of Directors
                                                                                                      are as follows:
           31 Desember 2022                                                                                                                 December 31, 2022
           Direktur Utama                                             Haru Koesmahargyo*                                                      President Director
           Wakil Direktur Utama                                 Nixon Lambok Pahotan Napitupulu                                         Vice President Director
           Direktur Consumer                                             Hirwandi Gafar                                                   Director of Consumer
           Direktur Finance                                            Nofry Rony Poetra                                                     Director of Finance
           Direktur Human Capital,                                                                                                  Director of Human Capital,
              Compliance and Legal                                          Eko Waluyo                                               Compliance and Legal
           Direktur Assets Management                                 Elisabeth Novie Riswanti                                 Director of Assets Management
           Direktur IT and Digital                                          Andi Nirwoto                                               Director of IT and Digital
           Direktur Distribution and Funding                                  Jasmin                                       Director of Distribution and Funding
           Direktur Risk Management                                       Setiyo Wibowo                                          Director of Risk Management
           * Berdasarkan Risalah Rapat Umum Pemegang Saham Tahunan
             dengan Akta nomor 16 tertanggal 16 Maret 2023, perseroan                                  * Based on Annual General Meeting of Shareholders with notarial
             memberhentikan dengan hormat Haru Koesmahargyo selaku                                       deed number 16 dated March 16, 2023, the company terminate
             Direktur Utama Perseroan.                                                                   with honor Haru Koesmahargyo as President Director.




                                                                                  26
Page 423
                                                                                                 The original financial statements included herein are in the
                                                                                                                                       Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                              NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                               As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                         and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                            (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                                   unless otherwise stated)


1.     UMUM (lanjutan)                                                                      1.    GENERAL (continued)

      i.       Dewan    Komisaris, Direksi, Dewan                                                 i.   Boards of Commissioners, Directors, Sharia
               Pengawas Syariah, Komite Audit dan                                                      Supervisory Board, Audit Committee and
               Karyawan (lanjutan)                                                                     Employees (continued)
               Gaji dan kompensasi lainnya yang dibayarkan                                             Salaries and other compensation benefits paid
               kepada dewan komisaris adalah sebesar                                                   to the Board of Commissioners of the Bank
               Rp64.480 dan Rp51.960 masing-masing                                                     amounted to Rp64,480 and Rp51,960 for the
               untuk tahun yang berakhir pada tanggal 31                                               years ended December 31, 2023, and 2022,
               Desember 2023 dan 2022 (Catatan 43b). Gaji                                              respectively (Note 43b). Salaries and other
               dan kompensasi lainnya yang dibayarkan                                                  compensation benefits paid to the Board of
               kepada direksi adalah sebesar Rp161.529                                                 Directors of the Bank amounted to Rp161,529
               dan Rp131.671 masing-masing untuk tahun                                                 and Rp131,671 for the years ended December
               yang berakhir pada tanggal 31 Desember                                                  31, 2023, and 2022, respectively (Note 43b).
               2023 dan 2022 (Catatan 43b).
               Sekretaris Perusahaan dan Kepala Divisi                                                 The Bank’s Corporate Secretary and the Head
               Audit Internal Bank adalah sebagai berikut:                                             of Internal Audit Division are as follows:

               31 Desember 2023                                                                                                             December 31, 2023
               Sekretaris Perusahaan                                          Ramon Armando*                                            Corporate Secretary
               Kepala Divisi Audit Internal                                  Hendratno Tri Wibowo                             Head of Internal Audit Division
               *    Diangkat berdasarkan Surat Keputusan Direksi Bank No.                              * Appointed based on the Bank’s Board of Directors’ Decision Letter
                    231/DIR/2023 tanggal 14 April 2023 dan bertindak sebagai pejabat                     No. 231/DIR/2023 dated April 14, 2023 and Head of Corporate
                    sejak tanggal 14 April 2023.                                                         Secretary Division since April 14, 2023.

               31 Desember 2022                                                                                                             December 31, 2022
               Sekretaris Perusahaan                                         Achmad Chaerul*                                            Corporate Secretary
               Kepala Divisi Audit Internal                                Hendratno Tri Wibowo**                             Head of Internal Audit Division

               *    Diangkat berdasarkan Surat Keputusan Direksi Bank No.                              * Appointed based on the Bank’s Board of Directors’ Decision Letter
                    711/DIR/2022 tanggal 7 Juli 2022 dan bertindak sebagai pejabat                       No. 711/DIR/2022 dated July 7, 2022 and Head of Corporate
                    sejak tanggal 11 Juli 2022.                                                          Secretary Division since July 11, 2022.
               ** Diangkat berdasarkan Surat Keputusan Direksi Bank                                    ** Appointed based on the Bank’s Board of Directors’ Decision Letter
                  No. 642/DIR/2021 tanggal 26 Juli 2021 dan bertindak sebagai                             No. 642/DIR/2021 dated July 26, 2021 and as the Acting Task of
                  pejabat sejak tanggal 26 Juli 2021.                                                     Internal Audit Division Head since July 26, 2021.



               Susunan Dewan Pengawas Syariah Bank, Rapat                                                The composition of the Bank’s Sharia
               Umum Pemegang Saham Tahunan (RUPST)                                                       Supervisory Board based on the Bank’s The
               Bank tanggal 16 Maret 2023, dengan berita acara                                           Annual General Meeting of Shareholders held
               No. 16 yang dibuat oleh Notaris Ashoya Ratam,                                             on March 16, 2023, as stated under the
               SH., MKn adalah sebagai berikut:                                                          notarial No. 16 by Notary Ashoya Ratam, SH.,
                                                                                                         MKn are as follows:

               31 Desember 2023                                                                                                           December 31, 2023
               Ketua                                                      M. Quraish Shihab                                                        Chairman
               Anggota                                               Mohammad Bagus Teguh Perwira                                                   Member
                Anggota                                                    Muhammad Faiz*                                                           Member
           *       Diangkat sebagai anggota Dewan Pengawas Syariah PT Bank                             * Appointed as a member of the Sharia Supervisory Board of PT Bank
                   Tabungan Negara (Persero) Tbk berdasarkan hasil keputusan                             Tabungan Negara (Persero) Tbk based on the results of the
                   RUPS Tahunan Perseroan tanggal 16 Maret 2023, telah                                   Company's Annual GMS decision on March 16, 2023, having
                   memperoleh persetujuan OJK pada tanggal 18 Oktober 2023                               obtained OJK approval on October 18, 2023, based on OJK Letter
                   berdasarkan Surat OJK No. S-267/PB.02/2023 tanggal 18 Oktober                         No. S-267/PB.02/2023 dated October 18, 2023, and effective since
                   2023 dan efektif sejak persetujuan Dewan Komisaris tanggal 29                         the approval of the Board of Commissioners on November 29, 2023,
                   November 2023 berdasarkan Surat Dewan Komisaris PT Bank                               based on the Letter of the Board of Commissioners of PT Bank
                   Tabungan Negara (Persero) Tbk No. 144/KOM/BTN/XI/2023 tanggal                         Tabungan Negara (Persero) Tbk No. 144/KOM/BTN/XI/2023 dated
                   29 November 2023.                                                                     November 29, 2023.




                                                                                       27
Page 424
                                                                                        The original financial statements included herein are in the
                                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                          unless otherwise stated)


1.    UMUM (lanjutan)                                                              1.   GENERAL (continued)
       i. Dewan     Komisaris, Direksi, Dewan                                           i.   Boards of Commissioners, Directors, Sharia
          Pengawas Syariah, Komite Audit dan                                                 Supervisory Board, Audit Committee and
          Karyawan (lanjutan)                                                                Employees (continued)
          Susunan Dewan Pengawas Syariah Bank                                                The composition of the Bank’s Sharia
          berdasarkan Rapat Umum Pemegang Saham                                              Supervisory Board based on the Bank’s The
          Tahunan (RUPST) Bank tanggal 2 Maret 2022,                                         Annual General Meeting of Shareholders held
          dengan berita acara No. 4 yang dibuat oleh                                         on March 2, 2022, as stated under the notarial
          Notaris Ashoya Ratam, SH., MKn adalah                                              No. 4 by Notary Ashoya Ratam, SH., MKn are
          sebagai berikut:                                                                   as follows:
          31 Desember 2022                                                                                                         December 31, 2022
          Ketua                                                  M. Quraish Shihab                                                         Chairman
          Anggota                                                Mohamad Hidayat*                                                           Member
          Anggota                                           Mohammad Bagus Tegus Perwira                                                    Member
          * Berdasarkan Risalah Rapat Umum Pemegang Saham Tahunan                            * Based on Annual General Meeting of Shareholders with notarial
            dengan Akta nomor 16 tertanggal 16 Maret 2023, perseroan                           deed number 16 dated March 16, 2023, the company terminate with
            memberhentikan dengan hormat Mohamad Hidayat selaku Anggota                        honor Mohamad Hidayat as Member of Sharia Supervisory Board.
            Dewan Pengawas Syariah Perseroan.

          Susunan Anggota Komite Audit Bank                                                  The composition of the Bank’s Audit
          berdasarkan Surat Dewan Komisaris No.                                              Committee, based on the Bank’s Board of
          101/KOM/BTN/VIII/2023 tanggal 14 Agustus                                           Commissioners’       Decision       No.
          2023 adalah sebagai berikut:                                                       101/KOM/BTN/VIII/2023 dated August 14,
                                                                                             2023 are as follows:
          31 Desember 2023                                                                                                December 31, 2023
          Ketua merangkap anggota                                       Iqbal Latanro                       Chairman concurrently as a Member
          Anggota                                                   Sentot A. Sentausa                                                 Member
          Anggota                                                     Andin Hadiyanto                                                  Member
          Anggota                                                  Peter Eko Budi Darwito                                              Member
          Anggota                                                   Endang A.Suprijatna                                                Member

          Susunan Anggota Komite Audit Bank                                                  The composition of the Bank’s Audit
          berdasarkan Surat Dewan Komisaris No.                                              Committee, based on the Bank’s Board of
          111/KOM/BTN/XI/2022 tanggal 16 November                                            Commissioners’       Decision       No.
          2022 adalah sebagai berikut:                                                       111/KOM/BTN/XI/2022 dated November 16,
                                                                                             2022 are as follows:
          31 Desember 2022                                                                                                December 31, 2022
          Ketua merangkap anggota                                       Iqbal Latanro                       Chairman concurrently as a Member
          Anggota                                                   Ahdi Jumhari Luddin                                                Member
          Anggota                                                     Andin Hadiyanto                                                  Member
          Anggota                                                   Sentot A. Sentausa*                                                Member
          Anggota                                                        Adi Prakoso                                                   Member
          Anggota                                                 Peter Eko Budi Darwito**                                             Member
          * Diangkat sebagai anggota Komite Audit PT Bank Tabungan Negara                    * Appointed as a member of the Bank’s Audit Committee PT Bank
            (Persero) Tbk berdasarkan Surat Keputusan Dewan Komisaris Bank                     Tabungan Negara (Persero) Tbk based on the Board of
            No. 03/KOM/BTN/2022 tanggal 17 Maret 2022 dan berlaku efektif                      Commissioners Decision Letter No. 03/KOM/BTN/2022 dated March
            berdasarkan Surat OJK Nomor 31/KDK.03/2022 tertanggal 8 Agustus                    17, 2022 and effective based on OJK Letter Number 31/KDK.03/2022
            2022.                                                                              dated August 8, 2022.
         ** Diperpanjang masa jabatan sebagai anggota Komite Audit PT Bank
            Tabungan Negara (Persero) Tbk berdasarkan Surat Keputusan                        ** Appointed as a member of the Bank’s Audit Committee PT Bank
            Dewan Komisaris Bank No. 108/KOM/BTN/XI/2022 tanggal 9                              Tabungan Negara (Persero) Tbk based on the Board of
            November 2022                                                                       Commissioners Decision Letter No. 108/KOM/BTN/XI/2022 dated
                                                                                                November 9, 2022


          Berdasarkan ketentuan internal Bank,                                               Based on the Bank’s internal policy, key
          manajemen kunci Bank cakupannya adalah                                             management       consists    of    Board     of
          Dewan Komisaris, Komite Audit, Direksi,                                            Commissioners, Audit Committee, Board of
          Kepala Kantor Wilayah, Kepala Divisi, dan                                          Directors, Regional Office Head, Division Head,
          Kepala Cabang. Jumlah karyawan tetap Bank                                          and Branch Manager. The Bank has permanent
          pada tanggal 31 Desember 2023 dan 2022                                             employees as of December 31, 2023 and 2022
          masing-masing adalah 11.270 dan 10.711                                             of 11,270 and 10,711 employees, respectively.
          orang.


                                                                              28
Page 425
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI       YANG           2.    SUMMARY         OF    SIGNIFICANT         ACCOUNTING
      SIGNIFIKAN                                                         POLICIES
      a.   Dasar Penyajian Laporan Keuangan                              a.   Basis of Preparation of the Financial
                                                                              Statements
           Pernyataan Kepatuhan                                               Statement of Compliance
           Laporan keuangan pada tanggal dan untuk                            The financial statements as of and for the year
           tahun yang berakhir pada tanggal-tanggal 31                        ended December 31, 2023 and 2022 were
           December 2023 dan 2022 disusun dan                                 prepared and presented in accordance with
           disajikan sesuai dengan Standar Akuntansi                          Indonesian Financial Accounting Standards,
           Keuangan di Indonesia, yang mencakup                               which     includes   the    Statements      and
           Pernyataan dan Interpretasi yang dikeluarkan                       Interpretations issued by the Financial
           oleh Dewan Standar Akuntansi Keuangan                              Accounting Standards Board of the Indonesian
           Ikatan Akuntan Indonesia dan peraturan                             Institute of Accountants and Bapepam-LK’s
           Bapepam-LK No. VIII.G.7 lampiran keputusan                         Regulation No. VIII.G.7, Appendix of the
           Ketua Bapepam-LK No. KEP-347/BL/2012                               Decision of the Chairman of Bapepam-LK
           tanggal 25 Juni 2012 tentang “Penyajian dan                        No. KEP-347/BL/2012 dated June 25, 2012
           Pengungkapan Laporan Keuangan Emiten atau                          regarding the “Guidelines on Financial
           Perusahaan Publik”.                                                Statements Presentations and Disclosures for
                                                                              Issuers or Public Companies”.
           Laporan keuangan disusun sesuai dengan                             The Financial Statements is presented in
           Pernyataan Standar Akuntansi Keuangan                              conformity with the Statement of Financial
           (PSAK) No.1 (Amandemen 2019), “Penyajian                           Accounting    Standards   ("SFAS")     No.1
           Laporan Keuangan”.                                                 (Amendment 2019), “Presentation of Financial
                                                                              Statements”.
           Laporan keuangan unit syariah Bank yang                            The financial statements of the Bank’s sharia
           didasarkan pada prinsip syariah disajikan                          unit have been presented in conformity with the
           sesuai dengan Pernyataan Standar Akuntansi                         Statement of Financial Accounting Standards
           Keuangan (PSAK) No. 101 (Revisi 2020)                              ("SFAS") No. 101 (Revised 2020) on “Sharia
           tentang    “Penyajian   Laporan    Keuangan                        Financial Statements Presentation”, SFAS No.
           Syariah”, PSAK No. 102 (Revisi 2020) tentang                       102 (Revised 2020) on “Accounting for
           “Akuntansi Murabahah”, PSAK No. 104 tentang                        Murabahah”, SFAS No. 104 on “Accounting for
           “Akuntansi Istishna”, PSAK No. 105 tentang                         Istishna”, SFAS No. 105 on “Accounting for
           “Akuntansi Mudharabah”, PSAK No. 106 (Revisi                       Mudharabah”, SFAS No. 106 (Revised 2020)
           2020) tentang “Akuntansi Musyarakah” dan                           on “Accounting for Musyarakah” and SFAS
           PSAK No. 107 tentang “Akuntansi Ijarah” yang                       No. 107 on “Accounting for Ijarah”, which
           menggantikan PSAK No. 59 tentang “Akuntansi                        supersede SFAS No. 59 on “Accounting for
           Perbankan Syariah” yang berkaitan dengan                           Sharia Banking” associated with recognition,
           pengakuan, pengukuran, penyajian dan                               measurement, presentation and disclosure for
           pengungkapan untuk topik tersebut, PSAK No.                        the respective topics, SFAS No. 110 (Revised
           110 (Revisi 2020) tentang “Akuntansi Sukuk”,                       2020) on “Accounting for Sukuk”, SFAS No. 111
           PSAK No. 111 tentang “Akuntansi Wa’d” dan                          on “Accounting for Wa’d” and other SFAS, as
           PSAK lain selama tidak bertentangan dengan                         long as not contradict with sharia principles and
           prinsip syariah dan Pedoman Akuntansi                              the Indonesia Sharia Banking Accounting
           Perbankan Syariah Indonesia (PAPSI) (revisi                        Guidelines (PAPSI) (revised 2013).
           2013).

           Laporan keuangan telah disajikan berdasarkan                       The Financial Statements have been prepared
           nilai historis, kecuali untuk beberapa akun yang                   on a historical cost basis, except for some
           dinilai menggunakan dasar pengukuran lain                          accounts that were assessed using another
           sebagaimana dijelaskan pada kebijakan                              measurement basis as explained in the
           akuntansi dari akun tersebut. Laporan                              accounting policies of the account. The
           keuangan disusun dengan dasar akrual, kecuali                      Financial Statements have been prepared on
           pendapatan dari istishna dan bagi hasil dari                       accrual basis, except for the revenue from
           pembiayaan mudharabah dan musyarakah                               istishna and the profit sharing from the
           serta laporan arus kas.                                            mudharabah and musyarakah financing and the
                                                                              statement of cash flow.



                                                              29
Page 426
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)
      a.   Dasar     Penyajian     Laporan     Keuangan                  a.   Basis of Preparation of the Financial
           (lanjutan)                                                         Statements (continued)
           Pernyataan Kepatuhan (lanjutan)                                    Statement of Compliance (continued)
           Laporan arus kas disusun menggunakan                               The statement of cash flows has been prepared
           metode langsung dan arus kas dikelompokkan                         using direct method and the cash flows have
           atas dasar aktivitas operasi, investasi dan                        been classified on the basis of operating,
           pendanaan. Kas dan setara kas terdiri dari kas,                    investing and financing activities. Cash and
           giro pada Bank Indonesia dan giro pada bank                        cash equivalents consist of cash, current
           lain, penempatan pada Bank Indonesia dan                           accounts with Bank Indonesia and current
           bank lain, Sertifikat Bank Indonesia dan                           accounts with other banks, placements with
           Sertifikat Deposito Bank Indonesia, yang jatuh                     Bank Indonesia and other banks, Bank
           tempo dalam waktu 3 (tiga) bulan sejak tanggal                     Indonesia Certificates and Deposits Certificates
           perolehan, sepanjang tidak digunakan sebagai                       of Bank Indonesia maturing within 3 (three)
           jaminan atas pinjaman yang diterima serta tidak                    months or less from the acquisition date
           dibatasi penggunaannya.                                            provided they are neither pledged as collateral
                                                                              for borrowings nor restricted.
           Mata uang penyajian yang digunakan dalam                           The presentation currency used in the financial
           laporan keuangan adalah Rupiah (Rp), yang                          statements is the Indonesian Rupiah (Rp),
           merupakan mata uang fungsional Bank. Angka-                        which is the Bank’s functional currency. Unless
           angka yang disajikan dalam laporan keuangan,                       otherwise stated, all figures presented in the
           kecuali dinyatakan lain dibulatkan dalam jutaan                    financial statement are rounded off to millions of
           Rupiah.                                                            Rupiah.
           Berdasarkan PSAK No. 51 (Revisi 2003)                              Based on SFAS No. 51 (Revised 2003),
           tentang ”Akuntansi Kuasi-Reorganisasi”, kuasi-                     “Accounting for Quasi-Reorganization”, a quasi-
           reorganisasi merupakan prosedur akuntansi                          reorganization is an accounting procedure that
           yang mengatur perusahaan merestrukturisasi                         enables a company to restructure its equity by
           ekuitasnya dengan menghilangkan defisit dan                        eliminating its deficit and revaluating all its
           menilai kembali seluruh aset dan liabilitasnya                     assets and liabilities based on their fair values.
           berdasarkan nilai wajar. Dengan kuasi-                             Under a quasi-reorganization, a company will
           reorganisasi, perusahaan mendapatkan awal                          have a fresh start with its statement of financial
           yang baik (fresh start) dengan laporan posisi                      position showing figures that represent present
           keuangan yang menunjukkan nilai sekarang                           values and without the burden of a deficit
           dan tanpa dibebani defisit karena defisit                          because the deficit has been eliminated to nil.
           dieliminasikan menjadi nihil.
      b.   Perubahan Kebijakan Akuntansi                                 b.   Changes in Accounting Policy
           Pada tanggal 1 Januari 2023, terdapat standar                      On January 1, 2023, there were new standards
           baru dan penyesuaian atau amendemen                                and adjustments or amendments for several
           terhadap beberapa standar yang masih berlaku                       prevailing standards and effective since that
           dan berlaku efektif sejak tanggal tersebut yaitu                   date, as follows:
           sebagai berikut:
           a. Amendemen PSAK No. 1, ”Penyajian                                a.   Amendment of SFAS No. 1, “Presentation
              Laporan Keuangan” tentang pengungkapan                               of Financial Statements” regarding
              kebijakan akuntansi yang mengubah istilah                            disclosure of accounting policies that
              ”signifikan” menjadi ”material” dan memberi                          change the term “significant” to “material”
              penjelasan mengenai kebijakan akuntansi                              and provide explanations of material
              material”;                                                           accounting policies”,
           b. Amandemen PSAK No.1, ”Penyajian                                 b.   Amendment of SFAS No.1, “Presentation
              Laporan Keuangan” tentang klasifikasi                                of Financial Statements” regarding
              liabilitas;                                                          classification of liabilities;
           c. Amandemen PSAK No. 25, ”Kebijakan                               c.   Amendment of SFAS No. 25, “Accounting
              Akuntansi, Perubahan Estimasi Akuntansi,                             Policies, Changes in Accounting Estimates
              dan Kesalahan” tentang definisi ”estimasi                            and Errors” regarding the definition of
              akuntansi” dan penjelasannya;                                        “accounting    estimates”     and    their
                                                                                   explanations;

                                                              30
Page 427
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                            unless otherwise stated)


2.    IKHTISAR KEBIJAKAN             AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                POLICIES (continued)

      b.   Perubahan Kebijakan Akuntansi (lanjutan)                        b.   Changes in Accounting Policy (continued)

           d. Amandemen PSAK No. 16, ”Aset Tetap”                               d.   Amendment of SFAS No. 16, “Fixed
              tentang hasil sebelum penggunaan yang                                  Assets” regarding proceeds before
              diintensikan;                                                          intended use;
           e. Amandemen PSAK No. 46, ”Pajak                                     e.   Amendment of SFAS No.46, “Income Tax”
              Penghasilan” tentang Pajak Tangguhan                                   on Deferred Tax related to Assets and
              terkait Aset dan Liabilitas yang timbul dari                           Liabilities arising from a Single Transaction
              Transaksi Tunggal yang diadopsi dari                                   which adopted from Amended IAS 12
              Amendemen IAS 12 Income Taxes tentang                                  Income Taxes on Deferred Tax related to
              Deffered Tax related to Assets and                                     Assets and Liabilities arising from a Single
              Liabilities arising from a Single Transaction,                         Transaction; and
              dan
           f. Amendemen PSAK No. 107, ”Akuntansi                                f.   Amendment of SFAS No. 107, “Ijarah
              Ijarah”;                                                               Accounting”;
           g. Amendemen PSAK 73: ”Sewa” terkait                                 g.   Amendment of SFAS 73: “Leases”
              liabilitas sewa pada transaksi jual dan                                regarding lease liabilities in sale-and-lease
              sewa-balik.                                                            back transaction.

           Implementasi dari standar-standar tersebut                           The implementation of the above standards did
           tidak menghasilkan perubahan substansial                             not result in substantial changes to the Bank’s
           terhadap kebijakan akuntansi Bank dan tidak                          accounting policies and had no material impact
           memiliki dampak yang material terhadap                               to the consolidated financial statements for
           laporan keuangan konsolidasian di tahun                              current or prior financial years.
           berjalan atau tahun sebelumnya.
      c.   Kuasi-Reorganisasi                                              c.   Quasi-Reorganization
           Berdasarkan PSAK No. 51 (Revisi 2003)                                Based on SFAS No. 51 (Revised 2003),
           tentang ”Akuntansi Kuasi-Reorganisasi”, kuasi-                       “Accounting for Quasi-Reorganization”, a quasi-
           reorganisasi merupakan prosedur akuntansi                            reorganization is an accounting procedure that
           yang mengatur perusahaan merestrukturisasi                           enables a company to restructure its equity by
           ekuitasnya dengan menghilangkan defisit dan                          eliminating its deficit and revaluating all its
           menilai kembali seluruh aset dan liabilitasnya                       assets and liabilities based on their fair values.
           berdasarkan nilai wajar. Dengan kuasi-                               Under a quasi-reorganization, a company will
           reorganisasi, perusahaan mendapatkan awal                            have a fresh start with its statement of financial
           yang baik (fresh start) dengan laporan posisi                        position showing figures that represent present
           keuangan yang menunjukkan nilai sekarang                             values and without the burden of a deficit
           dan tanpa dibebani defisit karena defisit                            because the deficit has been eliminated.
           dieliminasikan menjadi nihil.
           Estimasi nilai wajar aset dan liabilitas dalam                       The fair value estimate for assets and liabilities
           rangka        kuasi-reorganisasi        ditentukan                   under a quasi-reorganization is determined
           berdasarkan informasi terbaik sesuai dengan                          based on the best available information
           karakteristik   aset     dan    liabilitas    yang                   according to the characteristics of the related
           bersangkutan atau nilai pasar aset dan liabilitas                    assets and liabilities or the market value for the
           yang bersangkutan. Apabila nilai pasar tidak                         related assets and liabilities. If the market value
           tersedia, estimasi nilai wajar dilakukan dengan                      is not available, the fair value estimation is
           mempertimbangkan harga aset sejenis,                                 conducted by considering the value of similar
           estimasi nilai sekarang atau arus kas yang                           assets, present value estimation, or discounted
           didiskontokan. Untuk aset dan liabilitas tertentu,                   cash flows. For certain assets and liabilities, the
           penilaian dilakukan sesuai PSAK terkait.                             valuation is conducted according to the related
                                                                                SFAS.




                                                                31
Page 428
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      d.   Transaksi dengan pihak-pihak berelasi                          d.   Transactions with related parties

           Dalam      menjalankan       usahanya,     Bank                     In the normal course of its business, the Bank
           melakukan transaksi dengan pihak-pihak                              enters into transactions with related parties
           berelasi seperti yang didefinisikan dalam PSAK                      which are defined under SFAS No. 7, “Related
           No. 7 tentang “Pengungkapan Pihak-pihak                             Party Disclosures”.
           Berelasi”.
           Suatu pihak dianggap berelasi dengan Bank                           The Bank considers the following as its related
           jika:                                                               parties:
           a)   Suatu pihak yang secara langsung, atau                         a)   A person who, directly or indirectly through
                tidak langsung yang melalui satu atau lebih                         one or more intermediaries, (i) controls, or
                perantara, suatu pihak (i) mengendalikan,                           is controlled by, or under common control
                atau dikendalikan oleh, atau berada di                              with the Bank; (ii) has significant influence
                bawah pengendalian bersama, dengan                                  over the Bank; or (iii) has joint control over
                Bank; (ii) memiliki pengaruh signifikan atas                        the Bank;
                Bank; atau (iii) memiliki pengendalian
                bersama atas Bank;
           b)   Suatu pihak yang berada dalam kelompok                         b) An entity which is a member of the same
                usaha yang sama dengan Bank;                                      group as the Bank;
           c) Suatu pihak yang merupakan ventura                               c) An entity which is a joint venture of a third
              bersama di mana Bank sebagai venturer;                              party in which the Bank has ventured in;
           d) Suatu pihak adalah anggota dari personil                         d) A member of key management personnel of
              manajemen kunci Bank;                                               the Bank;
           e)   Suatu pihak adalah anggota keluarga dekat                      e)   A close family member of the person
                dari individu yang diuraikan dalam butir (a)                        described in clause (a) or (d);
                atau (d);
           f)   Suatu pihak adalah suatu program imbalan                       f)   An entity which is a post-employment
                pasca kerja untuk imbalan kerja dari Bank                           benefit plan for the benefit of employees of
                atau entitas terkait Bank;                                          either the Bank or an entity related to the
                                                                                    Bank;
           g)   Suatu pihak adalah entitas yang                                g)   An entity that is controlled, jointly controlled
                dikendalikan, dikendalikan bersama atau                             or significantly influenced, directly or
                dipengaruhi signifikan oleh beberapa                                indirectly by the person described in clause
                entitas, langsung maupun tidak langsung,                            (d) or (e).
                individu seperti diuraikan dalam butir (d)
                atau (e).

           Transaksi    dengan    pihak-pihak berelasi                         Transactions with related parties are made on
           dilakukan dengan syarat dan kondisi yang                            the term and conditions agreed by both parties
           disetujui oleh kedua belah pihak dimana                             where such terms may not be the same as
           persyaratan tersebut mungkin tidak sama                             transactions undertaken with third parties. All
           dengan transaksi yang dilakukan dengan pihak                        material transactions and balances with related
           ketiga. Seluruh transaksi dan saldo yang                            parties are disclosed in the relevant notes to the
           material    dengan    pihak-pihak     berelasi                      financial statements and the details have been
           diungkapkan dalam catatan atas laporan                              presented in Note 43 of the financial
           keuangan yang relevan dan rinciannya telah                          statements. Furthermore, material transactions
           disajikan dalam Catatan 43 atas laporan                             and balances between the Bank and the
           keuangan. Selanjutnya, saldo dan transaksi                          Government of the Republic of Indonesia (RI)
           yang material antara Bank dan Pemerintah                            and other entities related to the Bank are also
           Negara Republik Indonesia (RI) dan entitas lain                     disclosed in Note 43.
           yang berelasi dengan Bank diungkapkan juga
           pada Catatan 43.



                                                               32
Page 429
                                                                            The original financial statements included herein are in the
                                                                                                                  Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                          As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                    and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                              unless otherwise stated)


2.    IKHTISAR KEBIJAKAN              AKUNTANSI        YANG            2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                  POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                             e.   Financial assets and liabilities

           Aset keuangan Bank terdiri dari kas, giro pada                         The Bank’s financial assets consist of cash,
           Bank Indonesia, giro pada bank lain,                                   current accounts with Bank Indonesia, current
           penempatan pada Bank Indonesia dan bank                                accounts with other banks, placements with
           lain, efek-efek, obligasi Pemerintah, efek-efek                        Bank Indonesia and other banks, securities,
           yang dibeli dengan janji dijual kembali, tagihan                       government bonds, securities purchased under
           derivatif, tagihan akseptasi, penyertaan saham,                        agreement to resell, derivatives receivable,
           kredit yang diberikan dan pembiayaan/piutang                           acceptance receivable, investment in shares,
           syariah, bunga yang masih akan diterima dan                            loans and sharia financing/receivables, interest
           aset lain-lain (tagihan kepada pihak ketiga).                          receivable and other assets (third party
                                                                                  receivables).

           Liabilitas keuangan Bank terdiri dari liabilitas                        The Bank’s financial liabilities consist of
           segera, simpanan dari nasabah, simpanan dari                            liabilities due immediately, deposits from
           bank lain, surat-surat berharga yang diterbitkan,                       customers, deposits from other banks,
           liabilitas derivatif, liabilitas akseptasi, pinjaman                    securities    issued,    derivatives    payable,
           yang diterima, pinjaman subordinasi, efek-efek                          acceptance      payable,    fund     borrowings,
           yang dijual dengan janji dibeli kembali, bunga                          subordinated loan, securities sold under
           yang masih harus dibayar dan liabilitas lain-lain                       repurchase agreements, interest payable and
           (setoran      jaminan        dan    dana     jaminan                    other liabilities (guarantee deposits and
           pengembang).                                                            developers’ security deposits).
            (i) Klasifikasi                                                       (i) Classification
               Bank mengklasifikasikan aset keuangan                                  The Bank classified its financial assets in
               berdasarkan kategori sebagai berikut pada                              the following categories on initial
               saat pengakuan awal:                                                   recognition:
                  Aset keuangan yang diukur pada nilai                                  Financial assets held at fair value
                   wajar melalui laba rugi;                                               through profit or loss (FVTPL);
                  Aset keuangan yang diukur pada biaya                                  Financial assets held at amortized cost;
                   perolehan diamortisasi;
                  Aset keuangan yang diukur pada nilai                                  Financial assets held at fair value
                   wajar melalui penghasilan komprehensif                                 through other comprehensive income
                   lain (FVTOCI).                                                         (FVTOCI).

               Aset keuangan diklasifikasikan menjadi                                 Financial assets are classified into these
               kategori tersebut di atas berdasarkan model                            categories based on the business model
               bisnis dimana aset keuangan tersebut                                   within which they are held, and their
               dimiliki, dan karakteristik arus kas                                   contractual cash flow characteristics.
               kontraktualnya.

               Model bisnis merefleksikan bagaimana                                   The business model reflects how groups of
               kelompok aset keuangan dikelola untuk                                  financial assets are managed to achieve a
               mencapai tujuan bisnis tertentu.                                       particular business objective.




                                                                  33
Page 430
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN                  AKUNTANSI   YANG          2.    SUMMARY OF SIGNIFICANT ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                          e.   Financial assets and liabilities (continued)
           (lanjutan)

           (i)   Klasifikasi (lanjutan)                                        (i) Classification (continued)

                 Bank melakukan pengujian karakteristik                            The Bank assess the contractual cash flow
                 arus kas kontraktual dari aset keuangan                           characteristics of financial assets to
                 yang      dikelola    untuk     mengetahui                        determine the characteristics of contractual
                 karakteristik arus kas kontraktual berasal                        cash flows only from the payment of principal
                 hanya dari pembayaran pokok dan bunga                             and interest from the outstanding principal
                 dari jumlah pokok terutang (Solely Payment                        (Solely Payment of Principal and Interest or
                 of Principal and Interest atau Pass SPPI)                         Pass SPPI) that is consistent with basic
                 yang konsisten       dengan pengaturan                            lending agreement. In making the
                 pinjaman dasar (Basic Lending Agreement).                         assessment, the Bank considers:
                 Dalam      melakukan     penilaian,   Bank
                 mempertimbangkan:

                     Imbalan untuk nilai waktu dari uang;                              The time value of money element of
                                                                                         interest;
                     Leverage;                                                         Leverage;
                     Variabilitas pada waktu dan jumlah                                Variability in timing or amount of cash
                      arus kas;                                                          flows;
                     Instrumen     yang terkait   secara                               Contractually linked instruments;
                      kontraktual;
                     Pembayaran dipercepat;                                            Prepayment;
                     Ketentuan kontrak tidak sah dan de                                Non-genuine features and de minimis.
                      minimis

                  Aset keuangan diukur pada biaya                                    Financial assets are measured at
                  perolehan amortisasi jika kedua kondisi                            amortized cost if both of the following
                  berikut terpenuhi:                                                 conditions are met:
                   Aset keuangan yang dikelola dalam                                 Financial assets are managed where
                      model bisnis yang bertujuan untuk                                 the business model objectives in order
                      memiliki aset keuangan dalam rangka                               to collect the contractual cash flows;
                      mendapatkan arus kas kontraktual;                                 and
                      dan
                   Arus kas kontraktual tersebut semata                                The contractual cash flows are solely
                      dari pembayaran pokok dan bunga                                    payments of principal and interest
                      (SPPI).                                                            (SPPI).

                 Aset keuangan diukur pada nilai wajar                              Financial assets are measured at fair value
                 melalui penghasilan komprehensif lain                              through other comprehensive income
                 (FVTOCI) jika kedua kondisi berikut                                (FVTOCI) if both of the following conditions
                 terpenuhi:                                                         are met:
                  Aset keuangan yang dikelola untuk                                 Financial assets are managed to collect
                     mendapatkan arus kas kontraktual dan                               the contractual cash flows and sell the
                     menjual aset keuangan; dan                                         assets; and
                  Arus kas kontraktual tersebut semata                              The contractual cash flows are solely
                     dari pembayaran pokok dan bunga                                    payments of principal and interest
                     (SPPI).                                                            (SPPI).

                  Aset keuangan diklasifikasikan pada nilai                         Financial assets are measured at fair value
                  wajar melalui laba rugi (FVTPL) jika tidak                        through profit or loss (FVTPL) if do not
                  memenuhi kondisi yang disyaratkan untuk                           meet the conditions required to be
                  diukur pada biaya perolehan amortisasi                            measured at amortized cost or fair value
                  atau nilai wajar melalui penghasilan                              through other comprehensive income.
                  komprehensif lain.

                                                               34
Page 431
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                         e.   Financial assets and liabilities (continued)
           (lanjutan)

           (ii) Pengakuan awal                                                 (ii) Initial recognition

               a.   Pembelian atau penjualan aset                                  a.   Purchases or sales of financial assets
                    keuangan       yang     memerlukan                                  that require delivery of assets within a
                    penyerahan aset dalam kurun waktu                                   time frame established by regulation
                    yang telah ditetapkan oleh peraturan                                or convention in the marketplace
                    dan kebiasaan yang berlaku di pasar                                 (regular    way      purchases)      are
                    (pembelian secara reguler) diakui                                   recognized on the settlement date.
                    pada tanggal penyelesaian.

               b. Aset keuangan dan liabilitas keuangan                            b.   Financial assets and liabilities are
                  pada awalnya diukur pada nilai                                        initially recognised at fair value. For
                  wajarnya. Dalam hal aset keuangan                                     those financial assets or financial
                  atau liabilitas keuangan tidak diukur                                 liabilities not measured at fair value
                  pada nilai wajar melalui laba rugi. Nilai                             through profit or loss. The fair value
                  wajar tersebut ditambah/dikurangkan                                   includes        directly    attributable
                  biaya       transaksi   yang      dapat                               transaction costs. The subsequent
                  diatribusikan      secara    langsung.                                measurement of financial assets and
                  Pengukuran aset keuangan dan                                          liabilities    depends      on      their
                  liabilitas keuangan setelah pengakuan                                 classification.
                  awal tergantung pada klasifikasinya.

               Biaya transaksi hanya meliputi biaya-biaya                           Transaction costs only include costs that
               yang dapat diatribusikan secara langsung                             are directly attributable to the acquisition
               untuk perolehan suatu aset keuangan atau                             of a financial asset or issuance of a
               penerbitan suatu liabilitas keuangan dan                             financial liability and an additional charge
               merupakan biaya tambahan yang tidak                                  that would not occur if the instrument is
               akan terjadi apabila instrumen keuangan                              not acquired or issued. For financial
               tersebut tidak diperoleh atau diterbitkan.                           assets, transaction costs are added to the
               Untuk aset keuangan, biaya transaksi                                 amount recognized in the initial
               ditambahkan pada jumlah yang diakui                                  recognition of the asset, while for financial
               pada awal pengakuan aset, sedangkan                                  liabilities, transaction costs are deducted
               untuk liabilitas keuangan, biaya transaksi                           from the amount of debt recognized on
               dikurangkan dari jumlah utang yang diakui                            initial recognition of a liability.
               pada pengakuan awal liabilitas.

               Biaya transaksi tersebut diamortisasi                                The transaction costs are amortized over
               selama umur instrumen berdasarkan                                    the terms of the instrument based on the
               metode suku bunga efektif dan dicatat                                effective interest rate method and
               sebagai bagian dari pendapatan bunga                                 recorded as part of interest income for
               untuk biaya transaksi sehubungan dengan                              transaction costs related to the financial
               aset keuangan atau sebagai bagian dari                               asset or as part of interest expense for
               beban bunga untuk biaya transaksi                                    transaction costs related to financial
               sehubungan dengan liabilitas keuangan.                               liabilities.




                                                              35
Page 432
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                         e.   Financial assets and liabilities (continued)
           (lanjutan)
           (ii) Pengakuan awal (lanjutan)                                      (ii) Initial recognition (continued)
               Bank, pada pengakuan awal, dapat                                     The Bank, upon initial recognition, may
               menetapkan aset keuangan dan liabilitas                              designate certain financial assets and
               keuangan tertentu sebagai nilai wajar                                liabilities, at fair value through profit or
               melalui laba rugi (opsi nilai wajar). Opsi                           loss (fair value option). The fair value
               nilai wajar dapat digunakan hanya bila                               option is only applied when the following
               memenuhi ketetapan sebagai berikut:                                  conditions are met:
                  Penetapan sebagai opsi nilai wajar                                    The determination of the fair value
                   mengurangi      atau    mengeliminasi                                  option reduces or eliminates an
                   ketidak-konsistenan pengukuran dan                                     accounting mismatch that would
                   pengakuan (accounting mismatch)                                        otherwise arise; or
                   yang dapat timbul; atau
                  Aset keuangan dan liabilitas keuangan                            The financial assets and liabilities are
                   merupakan bagian dari portofolio                                  part of a portfolio of financial
                   instrumen keuangan yang risikonya                                 instruments, the risks of which are
                   dikelola dan dilaporkan kepada                                    managed and reported to key
                   manajemen kunci berdasarkan nilai                                 management on a fair value basis; or
                   wajar; atau
                  Aset keuangan dan liabilitas keuangan                                The financial assets and liabilities
                   terdiri dari kontrak utama dan derivatif                              consist of a host contract and an
                   melekat yang harus dipisahkan.                                        embedded derivative that must be
                                                                                         bifurcated.
               Opsi nilai wajar digunakan untuk kredit                                 The fair value option is applied to certain
               yang diberikan dan piutang tertentu yang                                loans and receivables that are hedged
               dilindung nilai menggunakan credit                                      with credit derivatives or interest rate spot,
               derivatives atau spot suku bunga, namun                                 but does not meet the criteria for hedge
               tidak memenuhi kriteria untuk akuntansi                                 accounting. Otherwise, the loans would
               lindung nilai. Jika tidak, kredit yang                                  be recorded at amortized cost, while the
               diberikan akan dicatat menggunakan                                      derivatives are measured at fair value
               biaya perolehan diamortisasi dan derivatif                              through profit or loss.
               akan diukur menggunakan nilai wajar
               melalui laba rugi.
               Opsi nilai wajar juga digunakan untuk                                   The fair value option is also applied to
               dana investasi yang merupakan bagian                                    investment funds that are part of a
               dari portofolio yang dikelola dengan basis                              portfolio managed on a fair value basis.
               nilai wajar. Opsi nilai wajar juga digunakan                            Furthermore, the fair value option is
               untuk structured investment termasuk                                    applied to structured investments that
               derivatif melekat.                                                      include embedded derivatives.

           (iii) Pengukuran setelah pengakuan awal                            (iii) Subsequent measurement

               Aset keuangan dalam kelompok nilai wajar                                Fair value through other comprehensive
               melalui penghasilan komprehensif lain dan                               income financial assets and financial
               aset keuangan dan liabilitas keuangan                                   assets and liabilities measured at fair
               yang diukur pada nilai wajar melalui laba                               value through profit or loss are
               rugi diukur pada nilai wajarnya.                                        subsequently measured at fair value.
               Aset dan liabilitas keuangan lainnya yang                               Assets and other financial liabilities which
               diukur pada biaya perolehan amortisasi,                                 are measured at amortized cost, are
               diukur pada biaya perolehan amortisasi                                  measured at amortized cost using the
               dengan menggunakan metode suku bunga                                    effective interest method.
               efektif.

                                                              36
Page 433
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                            unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG            2.    SUMMARY OF SIGNIFICANT ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                           e.   Financial assets and liabilities (continued)
           (lanjutan)
           (iv) Penghentian pengakuan                                           (iv) Derecognition

              a.   Aset     keuangan             dihentikan                          a.   Financial assets are derecognized
                   pengakuannya jika:                                                     when:

                   -   Hak kontraktual atas arus kas yang                                 -   The contractual rights to receive
                       berasal dari aset keuangan                                             cash flows from the financial assets
                       tersebut berakhir; atau                                                have expired; or

                   -   Bank telah mentransfer hak-nya                                     -   The Bank has transferred its rights
                       untuk menerima arus kas yang                                           to receive cash flows arising from
                       berasal dari aset keuangan atau                                        the financial assets or has assumed
                       menanggung        liabilitas    untuk                                  an obligation to pay the cash flows
                       membayarkan arus kas yang                                              in full without significant delay to a
                       diterima tersebut secara penuh                                         third party under a ‘pass-through
                       tanpa penundaan berarti kepada                                         arrangement’; and either (a) the
                       pihak ketiga di bawah kesepakatan                                      Bank has transferred substantially
                       pelepasan             (pass-through                                    all the risks and rewards of the
                       arrangement); dan antara (a) Bank                                      asset, or (b) the Bank has neither
                       telah      mentransfer         secara                                  transferred        nor        retained
                       substansial seluruh risiko dan                                         substantially all the risks and
                       manfaat atas aset, atau (b) Bank                                       rewards of the asset, but has
                       tidak mentransfer maupun tidak                                         transferred the control of the asset.
                       memiliki     secara        substansial
                       seluruh risiko dan manfaat atas
                       aset, namun telah mentransfer
                       pengendalian atas aset.

                       Ketika Bank telah mentransfer hak                                      When the Bank has transferred its
                       untuk menerima arus kas dari aset                                      rights to receive cash flows from an
                       atau telah memasuki pass through                                       asset or has entered into a pass-
                       arrangement dan tidak mentransfer                                      through arrangement and has
                       serta     tidak  mempertahankan                                        neither transferred nor retained
                       secara substansial seluruh risiko                                      substantially all the risks and
                       dan manfaat atas aset atau tidak                                       rewards of the asset nor
                       mentransfer kendali atas aset, aset                                    transferred control of the asset, the
                       diakui sebesar keterlibatan Bank                                       asset is recognized to the extent of
                       yang berkelanjutan atas aset                                           the Bank’s continuing involvement
                       tersebut.                                                              in the asset.




                                                                37
Page 434
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                   and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                             unless otherwise stated)


2.    IKHTISAR KEBIJAKAN             AKUNTANSI        YANG            2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                 POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                            e.   Financial assets and liabilities (continued)
           (lanjutan)

           (iv) Penghentian pengakuan (lanjutan)                                 (iv) Derecognition (continued)

               a.   Aset       keuangan         dihentikan                            a.   Financial assets are derecognized
                    pengakuannya jika: (lanjutan)                                          when: (continued)
                    Kredit yang diberikan atau aset                                        Loans or other financial assets are
                    keuangan lain dihapusbukukan ketika                                    written off when there is no realistic
                    tidak terdapat prospek yang realistis                                  prospect of collection in the near
                    mengenai pengembalian kredit dalam                                     future or the normal relationship
                    waktu dekat atau hubungan normal                                       between the Bank and the borrowers
                    antara Bank dan debitur telah                                          has ceased to exist. When a loan is
                    berakhir. Kredit yang tidak dapat                                      deemed uncollectible, it is written off
                    dilunasi, dihapusbukukan dengan                                        against the related allowance for
                    mendebit       cadangan       kerugian                                 impairment       losses.    Subsequent
                    penurunan       nilai.    Penerimaan                                   recoveries from loans previously
                    kemudian atas kredit yang telah                                        written off, are added to the allowance
                    dihapusbukukan sebelumnya, jika                                        for impairment losses account in the
                    pada periode berjalan dikreditkan ke                                   statement of financial position, if
                    dalam akun cadangan kerugian                                           recovered in the current year and are
                    penurunan nilai atas kredit yang                                       recognized in the statement of profit or
                    diberikan di laporan posisi keuangan,                                  loss and comprehensive income as
                    sedangkan jika setelah tanggal                                         other operating income, if recovered
                    laporan posisi keuangan dikreditkan                                    after the statement of financial
                    sebagai pendapatan operasional                                         position dates.
                    lainnya dalam laporan laba rugi dan
                    penghasilan komprehensif lain.


               b.   Liabilitas   keuangan         dihentikan                          b. Financial liabilities are derecognized
                    pengakuannya jika liabilitas keuangan                                when they are extinguished, i.e.,
                    tersebut berakhir, yaitu ketika liabilitas                           liabilities stated in the contract are
                    yang ditetapkan dalam kontrak                                        discharged, cancelled or expired.
                    dilepaskan atau dibatalkan atau
                    kadaluwarsa.

                    Jika suatu liabilitas keuangan yang                                    Where an existing financial liability is
                    ada digantikan dengan yang lain oleh                                   replaced by another from the same
                    pemberi pinjaman yang sama pada                                        lender on substantially different terms,
                    keadaan yang secara substansial                                        or the terms of an existing liability are
                    berbeda, atau berdasarkan suatu                                        substantially modified, such an
                    liabilitas yang ada yang secara                                        exchange or modification is treated as
                    substansial telah diubah, seperti                                      derecognition of the original liability
                    pertukaran atau modifikasi yang                                        and the recognition of a new liability,
                    diperlakukan sebagai penghentian                                       and the difference in the respective
                    pengakuan     liabilitas  awal   dan                                   carrying amounts is recognised in the
                    pengakuan      liabilitas baru   dan                                   statement of profit or loss and other
                    perbedaan nilai tercatat masing-                                       comprehensive income.
                    masing diakui dalam laporan laba rugi
                    dan penghasilan komprehensif lain.




                                                                 38
Page 435
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                          e.   Financial assets and liabilities (continued)
           (lanjutan)

           (v) Modifikasi atas Arus Kas Aset Keuangan                          (v) Modifications to Cash Flow of Financial
                                                                                   Assets
               Penilaian apakah suatu aset keuangan                                 An assessment of whether a financial asset
               telah dimodifikasi baik secara substansial                           has been modified substantially or not
               maupun tidak substansial dilakukan oleh                              substantially is carried out by a business
               unit bisnis yang berwenang melakukan                                 unit authorized to modify or restructure
               modifikasi atau restrukturisasi aset                                 financial assets when the business unit
               keuangan pada saat unit bisnis tersebut                              carries out modification or restructuring of
               melakukan tindakan modifikasi atau                                   a financial asset.
               restrukturisasi atas suatu aset keuangan.

               Modifikasi aset keuangan dianggap                                    Modifications to financial assets are
               substansial dan Bank akan berhenti                                   considered substantial and the Bank will
               mengakui aset keuangan awal ketika:                                  stop recognizing the original financial
                                                                                    assets when:
               a. Aset keuangan (atau bagiannya)                                    a.   The financial asset (or part thereof)
                  berakhir, yaitu jika debitur secara                                    expires, that is, if the debtor is legally
                  hukum dibebaskan dari tanggung                                         released from primary responsibility
                  jawab utama atas aset tersebut (atau                                   for the asset (or part thereof), either
                  bagiannya), baik melalui proses hukum                                  through legal process or by the
                  maupun oleh kreditur pembuatan                                         creditor entering into a new credit
                  kontrak kredit baru (sebagai contoh,                                   contract (for example, the equity
                  opsi equity conversion); atau                                          conversion option); or
               b. Terdapat konversi mata uang.                                      b. Currency conversion.
               Bank kemudian akan mengukur aset                                    The bank will then measure the modified
               keuangan yang telah dimodifikasi baik                               financial assets either substantially or not
               secara    substansial    maupun  tidak                              substantially in the following manner:
               substansial dengan cara berikut:

               a. Modifikasi Aset Keuangan yang                                      a. Substantial Modification of Financial
                  Substansial:                                                          Assets:
                  1. Saat arus kas kontraktual atas aset                                1. When the contractual cash flows
                     keuangan       direnegosiasi      atau                                 on a financial asset are
                     dimodifikasi (antara lain ketika kredit                                renegotiated or modified (for
                     direstrukturisasi)             dimana                                  example, when a credit is
                     renegosiasi atau modifikasi tersebut                                   restructured)      where      the
                     menghasilkan             penghentian                                   renegotiation or modification
                     pengakuan aset keuangan, Bank                                          results in derecognition of the
                     akan mencatat aset keuangan                                            financial asset, the Bank will
                     tersebut sebagai aset keuangan                                         record the financial asset as a
                     baru/modifikasian pada tanggal                                         new/modified financial asset at
                     modifikasi/negosiasi.                                                  the      modification/negotiation
                                                                                            date.




                                                               39
Page 436
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                        e.   Financial assets and liabilities (continued)
           (lanjutan)
           (v) Modifikasi atas Arus Kas Aset Keuangan                        (v) Modifications to Cash Flow of Financial
               (lanjutan)                                                        Assets (continued)
               Bank kemudian akan mengukur aset                                  The bank will then measure the modified
               keuangan yang telah dimodifikasi baik                             financial assets either substantially or not
               secara    substansial    maupun       tidak                       substantially in the following manner:
               substansial dengan cara berikut: (lanjutan)                       (continued)

              a. Modifikasi Aset Keuangan yang                                    a. Substantial Modification of Financial
                 Substansial: (lanjutan)                                             Assets: (continued)
                 2. Selisih jumlah tercatat bruto aset                               2.  The difference between the gross
                    keuangan awal dengan nilai wajar                                     carrying amount of the original
                    aset modifikasian diakui di laba rugi.                               financial asset and the fair value of
                                                                                         the modified asset is recognized in
                                                                                         profit or loss.
                 3. Pendapatan atau biaya transaksi                                  3.  Income or costs incurred in
                    yang terjadi sehubungan dengan                                       connection with a modification
                    kejadian modifikasi diakui sebagai                                   event are recognized as part of the
                    bagian dari keuntungan atau                                          gain or loss on the modification.
                    kerugian atas modifikasi tersebut.

                 4. Selanjutnya,    Bank   melakukan                                 4.    Subsequently, the Bank assesses
                    penilaian apakah aset keuangan                                         whether the new/modified financial
                    baru/modifikasian merupakan aset                                       assets are those that arise from
                    yang berasal dari aset keuangan                                        deteriorating financial assets.
                    memburuk.
                 5. Pengakuan pendapatan bunga atas                                  5.    Recognition of interest income on
                    aset yang berasal dari aset                                            assets       originating      from
                    keuangan memburuk ditentukan                                           deteriorating financial assets is
                    berdasarkan suku bunga efektif                                         determined based on the risk-
                    yang telah disesuaikan dengan                                          adjusted effective interest rate to
                    risiko kredit (risk-adjusted effective                                 discount the cash flows of modified
                    interest rate) untuk mendiskontokan                                    financial assets.
                    arus kas aset keuangan yang telah
                    dimodifikasi.




                                                             40
Page 437
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN          AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                        e.   Financial assets and liabilities (continued)
           (lanjutan)
           (v) Modifikasi atas Arus Kas Aset Keuangan                        (v) Modifications to Cash Flow of Financial
               (lanjutan)                                                        Assets (continued)
              b. Modifikasi Aset Keuangan yang Tidak                               b. Non-Substantial         Modification       of
                 Substansial:                                                         Financial Assets:
                 1. Saat Bank melakukan renegosiasi                                    1. When the Bank renegotiates or
                    atau modifikasi arus kas kontraktual                                  modifies contractual cash flows for
                    atas aset keuangan (antara lain                                       financial assets (among others
                    ketika kredit direstrukturisasi) yang                                 when credit is restructured) that do
                    tidak memenuhi kriteria modifikasi                                    not meet the criteria for substantial
                    aset keuangan yang substansial di                                     modification of financial assets
                    atas, maka renegosiasi atau                                           above, the renegotiation or
                    modifikasi        tersebut       tidak                                modification does not result in
                    menghasilkan             penghentian                                  derecognition of financial assets.
                    pengakuan aset keuangan.
                 2. Jumlah tercatat bruto aset keuangan                               2.   The gross carrying amount of
                    dihitung sebesar nilai kini (net                                       financial assets is computed at the
                    present value) dari arus kas                                           net present value of modified or
                    kontraktual yang telah dimodifikasi                                    renegotiated contractual cash
                    atau        direnegosiasi        yang                                  flows discounted at the original
                    didiskontokan menggunakan suku                                         effective interest rate.
                    bunga efektif awal.
                 3. Bank       kemudian         mengakui                              3.   The Bank then recognizes the gain
                    keuntungan atau kerugian dari                                          or loss from the modification (i.e.
                    modifikasi (yaitu sebesar perubahan                                    the change in the gross carrying
                    jumlah tercatat bruto aset keuangan)                                   amount of the financial asset) in
                    dalam laporan laba rugi.                                               the profit or loss.
                 4. Pendapatan atau biaya transaksi                                   4.   Transaction income or costs
                    yang terjadi sehubungan dengan                                         incurred in connection with a
                    kejadian modifikasi diakui sebagai                                     modification event are recognized
                    penyesuaian       terhadap     jumlah                                  as an adjustment to the carrying
                    tercatat aset keuangan yang telah                                      amount of the modified financial
                    dimodifikasi     dan     diamortisasi                                  asset and amortized over the
                    selama sisa jangka waktu aset                                          remaining term of the modified
                    keuangan modifikasian tersebut                                         financial asset.




                                                             41
Page 438
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                        e.   Financial assets and liabilities (continued)
           (lanjutan)

           (vi) Pengakuan pendapatan dan beban                               (vi) Income and expense recognition

              a.   Pendapatan dan beban bunga atas                                a.    Interest income and expense on
                   aset keuangan yang diukur pada nilai                                 financial assets measured at fair value
                   wajar        melalui       penghasilan                               through other comprehensive income
                   komprehensif lain serta aset keuangan                                as well as financial assets and
                   dan liabilitas keuangan yang dicatat                                 financial    liabilities recorded at
                   berdasarkan       biaya      perolehan                               amortized cost are recognized in the
                   diamortisasi, diakui pada laporan laba                               statement of profit or loss using the
                   rugi dengan menggunakan metode                                       effective interest method.
                   suku bunga efektif.

                   Jumlah tercatat bruto aset keuangan                                  The gross carrying amount of a
                   adalah biaya perolehan diamortisasi                                  financial asset is the amortized cost of
                   aset keuangan sebelum disesuaikan                                    a financial asset before adjusting for
                   dengan cadangan penurunan nilai.                                     allowance for impairment.

                   Dalam menghitung pendapatan dan                                      In calculating interest income and
                   beban bunga, tingkat bunga efektif                                   expenses, the effective interest rate is
                   diterapkan pada jumlah tercatat bruto                                applied to the gross carrying amount
                   aset (ketika aset tersebut bukan aset                                of an asset (when the asset is not a
                   keuangan memburuk) atau terhadap                                     deteriorated financial asset) or to the
                   biaya perolehan diamortisasi dari                                    amortized cost of a liability.
                   liabilitas.

                   Untuk aset keuangan yang memburuk                                    For financial assets that deteriorated
                   setelah pengakuan awal, pendapatan                                   after initial recognition, interest income
                   bunga dihitung dengan menerapkan                                     is calculated by applying an effective
                   tingkat bunga efektif terhadap biaya                                 interest rate to the amortized cost of
                   perolehan diamortisasi dari aset                                     the financial assets. If the asset no
                   keuangan tersebut. Jika aset tersebut                                longer deteriorates, the calculation of
                   tidak    lagi     memburuk,     maka                                 interest income will be calculated by
                   perhitungan pendapatan bunga akan                                    applying an effective interest rate to
                   dihitung dengan menerapkan tingkat                                   the gross carrying amount of the
                   bunga efektif terhadap nilai tercatat                                financial asset.
                   bruto dari aset keuangan tersebut.

                   Untuk aset keuangan yang telah                                       For financial assets that have
                   memburuk pada saat pengakuan                                         deteriorated at initial recognition,
                   awal, pendapatan bunga dihitung                                      interest income is calculated by
                   dengan menerapkan tingkat bunga                                      applying the effective interest rate to
                   efektif terhadap biaya perolehan                                     the amortized cost of the financial
                   diamortisasi dari aset keuangan                                      assets. If the asset no longer
                   tersebut. Jika aset tersebut tidak lagi                              deteriorates, the calculation of interest
                   memburuk,       maka      perhitungan                                income will still be calculated by
                   pendapatan bunga akan tetap dihitung                                 applying the effective interest rate to
                   dengan menerapkan tingkat bunga                                      the amortized cost of the financial
                   efektif terhadap biaya perolehan                                     asset.
                   diamortisasi dari aset keuangan
                   tersebut.




                                                             42
Page 439
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                            unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG            2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                           e.   Financial assets and liabilities (continued)
           (lanjutan)
           (vi) Pengakuan     pendapatan      dan     beban                     (vi) Income      and       expense       recognition
                (lanjutan)                                                           (continued)
               b.   Keuntungan dan kerugian atas aset                                b.    Gain and losses on financial assets
                    keuangan (yaitu: instrumen utang                                       (which is debt instrument hold by
                    yang dimiliki oleh Bank) yang diukur                                   Bank) measured at fair value through
                    pada nilai wajar melalui penghasilan                                   other      comprehensive        income
                    komprehensif lain (FVTOCI) diakui                                      (FVTOCI) are recognized at other
                    dalam penghasilan komprehensif lain,                                   comprehensive        income,     except
                    kecuali untuk kerugian penurunan                                       losses on impairment, until those
                    nilai, sampai aset keuangan tersebut                                   financial instrument derecognized,
                    dihentikan               pengakuannya,                                 unrealized gain and losses record on
                    keuntungan atau kerugian kumulatif                                     other      comprehensive        income
                    yang telah diakui sebelumnya dalam                                     reclassified from equity to profit and
                    penghasilan       komprehensif       lain                              loss as reclassification adjustment.
                    direklasifikasi dari ekuitas ke laba rugi
                    sebagai penyesuaian reklasifikasi.
                    Keuntungan dan kerugian atas aset                                      Gain and losses on financial assets or
                    keuangan atau liabilitas keuangan                                      financial liabilities measured at fair
                    yang diukur pada nilai wajar melalui                                   value through profit or loss (FVTPL)
                    laba rugi (FVTPL) diakui dalam                                         are recognized at statement of profit
                    laporan laba rugi, kecuali:                                            or loss, except:
                        Bagian dari hubungan lindung
                         nilai;                                                                Part of a hedging relationship;
                        Investasi     dalam      instrumen
                         ekuitas dan Bank telah memilih                                        Investments      in    equity
                         untuk menyajikan keuntungan                                            instruments and the Bank has
                         dan kerugian atas investasi                                            chosen to present gains and
                         dalam                  penghasilan                                     losses on investment in other
                         komprehensif lain;                                                     comprehensive income;
                        Liabilitas     keuangan        yang
                         ditetapkan untuk diukur pada                                          Financial liabilities determined to
                         nilai wajar melalui laba rugi dan                                      be measured at fair value
                         Bank       disyaratkan        untuk                                    through profit or loss and the
                         menyajikan       dampak         dari                                   Bank is required to present the
                         perubahan risiko kredit liabilitas                                     impact of changes in credit risk
                         dalam                  penghasilan                                     liabilities in other comprehensive
                         komprehensif lain;                                                     income;
                        Aset keuangan yang diukur pada
                         nilai wajar melalui penghasilan                                       Financial assets measured at fair
                         komprehensif lain dan Bank                                             value        through        other
                         disyaratkan untuk mengakui                                             comprehensive income and the
                         sebagian perubahan nilai wajar                                         Bank is required to recognize
                         dalam                  penghasilan                                     some changes in fair value in the
                         komprehensif lain.                                                     other comprehensive income.




                                                                43
Page 440
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG         2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                        e.   Financial assets and liabilities (continued)
           (lanjutan)

           (vi) Pengakuan     pendapatan       dan   beban                   (vi) Income     and        expense       recognition
                (lanjutan)                                                        (continued)

                Keuntungan atau kerugian atas aset                                 Gain or losses on financial assets
                keuangan yang diukur pada biaya                                    measured at amortized cost and not part
                perolehan amortisasi dan bukan                                     of a hedging relationship are recognized in
                merupakan bagian dari suatu hubungan                               the statement of profit or loss when the
                lindung nilai diakui pada laporan laba                             financial assets are derecognized,
                rugi ketika aset keuangan dihentikan                               reclassified, through the amortization
                pengakuannya, direklasifikasi, melalui                             process or in order to recognize
                proses amortisasi atau dalam rangka                                impairment gains or losses.
                mengakui keuntungan atau kerugian
                penurunan nilai.

                Keuntungan atau kerugian dari liabilitas                           Gain or losses on liabilities instrument
                keuangan yang diukur pada biaya                                    measured at amortized cost and not part
                perolehan amortisasi dan bukan                                     of a hedging relationship are recognized in
                merupakan bagian dari suatu hubungan                               the statement of profit or loss when
                lindung nilai diakui dalam laporan laba                            liabilities instrument are derecognized and
                rugi ketika liabilitas keuangan dihentikan                         through amortization processed.
                pengakuannya dan melalui proses
                amortisasi.

           (vii) Reklasifikasi aset keuangan                                 (vii) Reclassification of financial assets

                Reklasifikasi      aset       keuangan                             Reclassification of financial assets is
                diperbolehkan jika dan hanya jika terjadi                          permissible when and only when there is
                perubahan dalam model bisnis untuk                                 change in business model for managing
                mengelola aset keuangan.                                           financial assets.

                Jika Bank mereklasifikasi aset keuangan                            If the Bank reclassifies financial assets in
                sesuai dengan ketentuan di atas, Bank                              accordance with the above conditions, the
                menerapkan      reklasifikasi      secara                          Bank applies prospective reclassification
                prospektif dari tanggal reklasifikasi.                             from the date of reclassification. The Bank
                Bank    tidak   menyajikan        kembali                          does not restate gains, losses (including
                keuntungan,     kerugian       (termasuk                           impairment gains or losses), or previously
                keuntungan atau kerugian penurunan                                 recognized interest.
                nilai), atau bunga yang diakui
                sebelumnya.

                Reklasifikasi aset keuangan dari                                   Reclassifications of financial assets from
                klasifikasi biaya perolehan yang                                   amortized cost classifications to fair value
                diamortisasi ke klasifikasi nilai wajar                            through profit or loss are recorded at fair
                melalui laba rugi dicatat sebesar nilai                            value. The difference between the
                wajarnya. Selisih antara nilai tercatat                            recorded value and fair value is
                dengan nilai wajar diakui sebagai                                  recognized in profit or loss on the
                keuntungan atau kerugian pada laba                                 statement of profit or loss and other
                rugi.                                                              comprehensive income.




                                                             44
Page 441
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                          e.   Financial assets and liabilities (continued)
           (lanjutan)

           (vii) Reklasifikasi aset keuangan (lanjutan)                        (vii) Reclassification     of    financial     assets
                                                                                     (continued)

               Reklasifikasi aset keuangan dari klasifikasi                         Reclassifications of financial assets from
               biaya perolehan yang diamortisasi ke                                 amortized cost classifications to fair value
               klasifikasi nilai wajar melalui penghasilan                          classifications       through          other
               komprehensif lain dicatat sebesar nilai                              comprehensive are recorded at their fair
               wajarnya.                                                            values.

               Reklasifikasi aset keuangan dari klasifikasi                         Reclassification of financial assets from fair
               nilai    wajar      melalui       penghasilan                        value     classification   through       other
               komprehensif lain ke klasifikasi nilai wajar                         comprehensive income to fair value
               melalui laba rugi dicatat pada wajar.                                classification through profit or loss is
               Keuntungan atau kerugian yang belum                                  recorded at fair value. Unrealized gains or
               direalisasi direklasifikasi ke laba rugi.                            losses are reclassified to profit or loss.

               Reklasifikasi aset keuangan dari klasifikasi                         Reclassification of financial assets from fair
               nilai     wajar     melalui   penghasilan                            value classifications       through other
               komprehensif lain ke klasifikasi biaya                               comprehensive income to the amortized
               perolehan yang diamortisasi dicatat pada                             cost classification is recorded at carrying
               nilai tercatat. Keuntungan atau kerugian                             value. Unrealized gains or losses is
               yang belum direalisasi dihapus dari ekuitas                          removed from equity and is adjusted
               dan disesuaikan terhadap nilai wajar.                                against the fair value.

               Reklasifikasi aset keuangan dari klasifikasi                         Reclassifications on financial assets from
               nilai wajar melalui laba rugi ke klasifikasi                         fair value classification through profit or
               nilai    wajar      melalui    penghasilan                           loss to fair value classification through
               komprehensif lain dicatat pada wajar.                                other comprehensive income are recorded
                                                                                    at fair value.

               Reklasifikasi aset keuangan dari kelompok                            Reclassification of financial assets from
               dimiliki hingga jatuh tempo ke kelompok                              held-to-maturity    to   available-for-sale
               tersedia untuk dijual dicatat sebesar nilai                          category is recorded at fair value.
               wajarnya. Keuntungan atau kerugian yang                              Unrealized gains or losses are reported in
               belum direalisasi tetap dilaporkan dalam                             equity and are amortized using effective
               ekuitas dan diamortisasi menggunakan                                 interest method over the remaining life of
               metode suku bunga efektif selama sisa                                the financial assets.
               umur aset keuangan tersebut.

           (viii) Saling hapus                                                 (viii) Offsetting

               Aset keuangan dan liabilitas keuangan                                Financial assets and liabilities are offset
               dilakukan saling hapus dan nilai bersihnya                           and the net amount is presented in the
               disajikan dalam laporan posisi keuangan                              statement of financial position when, and
               jika, dan hanya jika Bank memiliki hak yang                          only when, the Bank has a legal right to
               berkekuatan hukum untuk melakukan                                    offset the amounts and intends either to
               saling hapus atas jumlah yang telah diakui                           settle on a net basis or to realize the asset
               tersebut dan adanya maksud untuk                                     and settle the liability simultaneously.
               menyelesaikan secara neto atau untuk
               merealisasikan aset dan menyelesaikan
               liabilitasnya secara simultan.




                                                               45
Page 442
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN             AKUNTANSI      YANG            2.    SUMMARY OF SIGNIFICANT ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                          e.   Financial assets and liabilities (continued)
           (lanjutan)

           (viii) Saling hapus (lanjutan)                                      (viii) Offsetting (continued)

               Hal yang berkekuatan hukum harus tidak                               The legally enforceable right must not be,
               kontinjen atas peristiwa di masa depan dan                           contingent on future events and must be
               harus dapat dipaksakan di dalam situasi                              enforceable in the normal course of
               bisnis yang normal, peristiwa kegagalan                              business and in the event of default,
               atau kebangkrutan dari entitas atas seluruh                          insolvency or bankruptcy of the company
               pihak lawan.                                                         or the counterparty.

               Pendapatan dan beban disajikan dalam                                 Income and expenses are presented on a
               jumlah neto hanya jika diperkenankan oleh                            net basis only when permitted by the
               Standar Akuntansi Keuangan.                                          Financial Accounting Standards.

           (ix) Pengukuran nilai wajar                                         (ix) Fair value measurement

               Nilai wajar adalah harga yang akan                                   Fair value is the price that would be
               diterima untuk menjual suatu aset atau                               received to sell an asset or paid to transfer
               harga    yang      akan    dibayar   untuk                           a liability in an orderly transaction between
               mengalihkan suatu liabilitas dalam                                   market participants at the measurement
               transaksi teratur antara pelaku pasar pada                           date.
               tanggal pengukuran.

               Pengukuran nilai wajar mengasumsikan                                 Fair value measurement assumes the
               bahwa transaksi untuk menjual aset atau                              transaction to sell assets or transfer
               mengalihkan liabilitas terjadi:                                      liabilities occurs:
               -  Di pasar utama untuk aset dan                                       - In the primary market for such assets
                  liabilitas tersebut; atau                                              and liabilities; or
               -  Jika tidak terdapat pasar utama,                                    - If there is no primary market, in the
                  dipasar yang paling menguntungkan                                      most profitable market for these
                  untuk aset atau liabilitas tersebut.                                   assets or liabilities.

               Nilai wajar suatu aset atau liabilitas diukur                        The fair value of an asset or liability is
               menggunakan       asumsi      yang      akan                         measured using the assumptions that
               digunakan      pelaku      pasar       ketika                        would be use by market participants in
               menentukan harga aset dan liabilitas                                 determining the price of the asset and the
               tersebut dengan asumsi bahwa pelaku                                  liability assuming that market participants
               pasar bertindak dalam kepentingan                                    act in their best economic interests.
               ekonomik terbaiknya.

               Pengukuran nilai wajar aset non keuangan                             The measurement of the fair value of non-
               memperhitungkan kemampuan pelaku                                     financial assets takes into account the
               pasar untuk menghasilkan manfaat                                     ability of market participants to generate
               ekonomik dengan menggunakan aset                                     economic benefits by using the asset in
               dalam     penggunaan      tertinggi  dan                             the highest and best use or by selling them
               terbaiknya atau dengan menjualnya                                    to other market participants that would use
               kepada pelaku pasar lain yang akan                                   the asset in the highest and best use.
               menggunakan aset tersebut dalam
               penggunaan tertinggi dan terbaiknya.




                                                               46
Page 443
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                          e.   Financial assets and liabilities (continued)
           (lanjutan)

           (ix) Pengukuran nilai wajar (lanjutan)                              (ix) Fair value measurement (continued)

               Bank menggunakan teknik penilaian yang                               Bank uses suitable valuation techniques in
               sesuai dalam keadaan dan dimana data                                 the circumstances and where sufficient
               yang memadai tersedia untuk mengukur                                 data are available to measure fair value,
               nilai wajar, mengoptimalkan penggunaan                               optimizing the use of relevant observable
               input yang dapat diobservasi yang relevan                            inputs and minimize the use of inputs that
               dan meminimalkan penggunaan input yang                               are not observable.
               tidak dapat diobservasi.

               Semua aset dan liabilitas dimana nilai                               All assets and liabilities which fair value is
               wajar diukur atau diungkapkan dalam                                  measured or disclosed in the financial
               laporan keuangan dapat dikategorikan                                 statements can be classified in fair value
               pada level hirarki nilai wajar, berdasarkan                          hierarchy levels, based on the lowest level
               tingkatan input terendah yang signifikan                             of input that is significant to the overall fair
               atas pengukuran nilai wajar secara                                   value measurement:
               keseluruhan:

               -    Tingkat 1 : harga kuotasian (tanpa                              -   Level 1 : quoted prices (unadjusted) in
                    penyesuaian) di pasar aktif untuk aset                              active markets for identical assets or
                    atau liabilitas yang identik yang dapat                             liabilities which are accessible at the
                    diakses pada tanggal pengukuran.                                    measurement date.

               -    Tingkat 2 : input selain harga                                  -   Level 2 : inputs other than quoted
                    kuotasian yang termasuk dalam level                                 prices included in level 1 that are
                    1 yang dapat diobservasi untuk aset                                 observable for the assets and liabilities,
                    dan liabilitas, baik secara langsung                                either directly or indirectly.
                    atau tidak langsung.

               -    Tingkat 3 : input yang tidak dapat                              -   Level 3 : inputs that are not observable
                    diobservasi untuk aset dan liabilitas.                              for the assets and liabilities.

               Untuk aset dan liabilitas yang diakui pada                           For assets and liabilities that are
               laporan keuangan secara berulang, Bank                               recognized in the financial statements on
               menentukan apakah terjadi transfer antara                            recurring basis, the Bank determines
               level di dalam hirarki dengan cara                                   whether there is a transfer between levels
               mengevaluasi kategori (berdasarkan input                             in the hierarchy by evaluating categories
               level terendah yang signifikan dalam                                 (based on the lowest level input that is
               pengukuran nilai wajar) setiap akhir                                 significant to the fair value measurement)
               periode pelaporan.                                                   at the end of each reporting period.

               Bank, untuk tujuan pengungkapan nilai                                The Bank, for purposes of disclosing the
               wajar, telah menentukan kelas aset dan                               fair value, has determined the classes of
               liabilitas berdasarkan sifat, karakteristik,                         assets and liabilities based on the nature,
               risiko aset dan liabilitas, dan level hirarki                        characteristics, risk of assets and liabilities,
               nilai wajar (Catatan 47).                                            and the fair value hierarchy levels
                                                                                    (Note 47).




                                                               47
Page 444
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                         e.   Financial assets and liabilities (continued)
           (lanjutan)

           (x) Pengukuran biaya perolehan diamortisasi                        (x) Amortized cost measurement

               Biaya perolehan diamortisasi dari aset                              The amortized cost of a financial asset or
               keuangan atau liabilitas keuangan adalah                            liability is the amount at which the financial
               jumlah aset keuangan atau liabilitas                                asset or liability is measured at initial
               keuangan yang diukur pada saat                                      recognition, minus principal repayments,
               pengakuan awal dikurangi pembayaran                                 plus or minus the cumulative amortization
               pokok pinjaman, ditambah atau dikurangi                             using the effective interest method of any
               amortisasi kumulatif menggunakan metode                             difference between the initial amount
               suku bunga efektif yang dihitung dari                               recognized and the maturity amount,
               selisih antara nilai pengakuan awal dan                             minus any reduction for impairment.
               nilai jatuh temponya, dan dikurangi
               penurunan nilai.

           (xi) Aset keuangan sukuk                                            (xi) Sukuk Financial Asset

               Berdasarkan PSAK No.110 (Revisi 2015),                               In accordance with SFAS No.110
               Bank menentukan investasi pada sukuk                                 (Revised 2015), the Bank determines the
               ijarah dan mudharabah sebagai diukur                                 classification of investments in sukuk
               pada biaya perolehan, diukur pada nilai                              ijarah and mudharabah either measured
               wajar melalui penghasilan komprehensif                               at cost, fair value through other
               lain atau diukur pada nilai wajar melalui                            comprehensive income or fair value
               laba rugi.                                                           through profit or loss.

               Klasifikasi sukuk adalah sebagai berikut:                            Sukuk classifications are as follows:

               a.   Diukur pada biaya perolehan                                    a.   Measured at cost
                       Investasi tersebut dimiliki dalam                                The investment is held in a
                        suatu     model     usaha     yang                                business model whereby the
                        bertujuan       utama         untuk                               primary goal is to obtain
                        memperoleh arus kas kontraktual                                   contractual cash flows and has
                        dan      terdapat      persyaratan                                contractual terms in determining
                        kontraktual dalam menentukan                                      the specific date of principal
                        tanggal tertentu atas pembayaran                                  payments and or the results.
                        pokok dan atau hasilnya.
                       Biaya perolehan sukuk termasuk                                     Sukuk acquisition cost includes
                        biaya transaksi, dan selisih antara                                 transaction cost, and difference
                        biaya perolehan dan nilai nominal                                   between the acquisition cost and
                        diamortisasi secara garis lurus                                     the nominal value is amortized on
                        selama jangka waktu sukuk dan                                       a straight-line basis over the period
                        diakui dalam laba rugi.                                             of the sukuk and recognized to
                                                                                            profit or loss.




                                                              48
Page 445
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                            unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG            2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                POLICIES (continued)

      e.   Aset keuangan dan liabilitas keuangan                           e.   Financial assets and liabilities (continued)
           (lanjutan)

           (xi) Aset keuangan sukuk (lanjutan)                                   (xi) Sukuk Financial Asset (continued)

               Klasifikasi sukuk adalah sebagai berikut:                              Sukuk classifications are as follows:
               (lanjutan)                                                             (continued)

               b.   Diukur pada nilai wajar melalui                                  b.   Measured at fair value through other
                    penghasilan komprehensif lain                                         comprehensive income

                       Investasi tersebut dimiliki dalam                                    The investment is held in a
                        suatu    model     usaha      yang                                    business model whereby the
                        bertujuan       utama         untuk                                   primary goal is to obtain
                        memperoleh arus kas kontraktual                                       contractual cash flows and sell
                        dan melakukan penjualan sukuk,                                        sukuk, has contractual terms in
                        terdapat persyaratan kontraktual                                      determining the specific date of
                        dalam     menentukan        tanggal                                   principal payments and or the
                        tertentu atas pembayaran pokok                                        results.
                        dan atau hasilnya.
                       Biaya perolehan sukuk termasuk                                      Sukuk acquisition cost includes
                        biaya transaksi, dan selisih antara                                  transaction cost, and difference
                        biaya perolehan dan nilai nominal                                    between the acquisition cost and
                        diamortisasi secara garis lurus                                      the nominal value is amortized on
                        selama jangka waktu sukuk dan                                        a straight-line basis over the period
                        diakui dalam laba rugi.                                              of the sukuk and recognized to
                                                                                             profit or loss.
                       Keuntungan atau kerugian dari                                      Gain or loss from changes of fair
                        perubahan nilai wajar diakui                                        value is recognized in other
                        dalam penghasilan komprehensif                                      comprehensive         income      after
                        lain setelah memperhitungkan                                        considering unamortized difference
                        saldo selisih biaya perolehan dan                                   of acquisition cost and nominal
                        nilai    nominal      yang    belum                                 value and accumulated gain or loss
                        diamortisasi dan saldo akumulasi                                    of fair value which has previously
                        keuntungan atau kerugian nilai                                      recognized in other comprehensive
                        wajar yang telah diakui dalam                                       income.        When       sukuk      is
                        penghasilan komprehensif lain                                       derecognized, accumulated gain or
                        sebelumnya. Ketika investasi                                        loss      which    has      previously
                        sukuk dihentikan pengakuannya,                                      recognized in other comprehensive
                        akumulasi       keuntungan      atau                                income is reclassified to profit or
                        kerugian yang sebelumnya diakui                                     loss.
                        dalam penghasilan komprehensif
                        lain direklasifikasi ke laba rugi.

               c.   Diukur pada nilai wajar melalui laba                             c.   Measured at fair value through profit
                    rugi                                                                  or loss

                    Biaya perolehan sukuk tidak termasuk                                  Sukuk acquisition cost excludes
                    biaya transaksi, dan selisih antara nilai                             transaction cost and the difference
                    wajar dan jumlah tercatat diakui dalam                                between fair value and the carrying
                    laba rugi.                                                            value is recognized in profit or loss.




                                                                49
Page 446
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      f.   Cadangan kerugian penurunan nilai atas                        f.   Allowance for          impairment       losses     on
           aset keuangan                                                      financial assets

           Pada setiap tanggal pelaporan, Bank                                At reporting date, the Bank calculates expected
           menghitung kerugian kredit ekspektasian                            credit loss based on estimated 12 months. If
           berdasarkan estimasi 12 bulan. Jika terjadi                        there is a significant increase in credit risk since
           kenaikan risiko kredit yang signifikan sejak                       initial recognition, the estimated expected credit
           pengakuan awal maka estimasi kerugian kredit                       loss will be calculated throughout the life of the
           ekspektasian akan dihitung sepanjang umur                          contract.
           kontrak.

           Kerugian kredit ekspektasian merupakan                             Expected credit losses are estimated weighted
           estimasi probabilitas tertimbang dari kerugian                     probabilities of credit losses (is the present
           kredit (yaitu nilai kini dari seluruh kekurangan                   value of all cash shortages) over the estimated
           kas) selama perkiraan umur instrumen                               life of the financial instrument. Cash shortages
           keuangan. Kekurangan kas adalah selisih                            are the difference between the cash flows owed
           antara arus kas yang terutang kepada Bank                          to the Bank in accordance with the contract and
           sesuai dengan kontrak dan arus kas yang                            the cash flows that are expected to be received
           diperkirakan akan diterima oleh Bank.                              by the Bank.

           Bank menetapkan definisi peningkatan risiko                        The Bank has determined the definition of a
           kredit instrumen keuangan secara signifikan                        significant increase in credit risk of financial
           sejak pengakuan awal sebagai berikut:                              instruments since initial recognition as follows:
                Sesuai dengan praduga (rebuttable                                  In    accordance      with    presumption
                 presumption) PSAK 71, yaitu ketika                                 (rebuttable presumption) SFAS 71, i.e.
                 pembayaran kontraktual tertunggak lebih                            when contractual payments are overdue
                 dari 30 hari; atau                                                 for more than 30 days; or
                Ketika    terjadi   restrukturisasi aset                          When there is a restructuring of financial
                 keuangan       yang   disebabkan    oleh                           assets caused by increased credit risk.
                 peningkatan risiko kredit.

           Bank menerapkan definisi gagal bayar (stage                        The Bank applies a definition of default (stage
           3) yang konsisten dengan definisi yang                             3) that is consistent with the definition used for
           digunakan untuk tujuan manajemen risiko                            internal credit risk management for relevant
           kredit internal untuk instrumen keuangan yang                      financial instruments, namely:
           relevan, yaitu:
                Ketika     instrumen   keuangan telah                             When financial instruments are in 90 days
                 menunggak 90 hari; atau                                            in arrears; or
                Telah berada pada kolektibilitas BI 3, 4,                         Is in BI collectibility 3, 4, or 5.
                 atau 5.




                                                              50
Page 447
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                            unless otherwise stated)


2.    IKHTISAR KEBIJAKAN             AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                POLICIES (continued)

      f.   Cadangan kerugian penurunan nilai atas                          f.   Allowance for impairment                losses     on
           aset keuangan (lanjutan)                                             financial assets (continued)

           Bank mengelompokkan aset keuangan dibeli                             The Bank classifies purchased or originated
           dari aset keuangan memburuk apabila:                                 credit-impaired financial asset if:
                Hilangnya pasar aktif dari aset keuangan;                          Loss of an active market from financial
                 dan                                                                 assets; and
                Pembelian dengan diskon sangat besar.                              Purchases with very large discounts.

           Bank mengelompokkan aset keuangan berasal                            The Bank classifies financial assets derived
           dari aset keuangan memburuk apabila:                                 from deteriorat financial assets if:
                Pihak peminjam dinyatakan pailit;                                The borrower is declared bankrupt;
                Terdapat     perubahan      dari    bentuk                       There is a change in the form of provision
                 penyediaan dana, atau                                              of funds, or
                Debitur telah berada pada stage 3 dan                            The debtor is at stage 3 and meets one of
                 memenuhi salah satu kondisi berikut:                               the following conditions:
                  Telah dilakukan restrukturisasi secara                               Repeated restructuring and significant
                    berulang-ulang        dan         terjadi                            breach of contract; or
                    pelanggaran        kontrak       secara
                    signifikan; atau
                  Atas restrukturisasi yang terjadi,                                     For the restructuring that occurs, there
                    terdapat selisih negatif lebih dari 20%                                is a negative difference of more than
                    atas nilai kini arus kas masa depan                                    20% of the present value of future
                    (yang didiskontokan menggunakan                                        cash flows (discounted using the initial
                    suku bunga efektif awal) antara                                        effective interest rate) between the
                    persyaratan awal dan persyaratan                                       initial terms and the terms of the
                    restrukturisasi.                                                       restructuring.

           Bank melakukan penurunan nilai secara                                The Bank is impaired individually or collectively
           individu      atau      kolektif     dengan                          by considering all reasonable and supported
           mempertimbangkan semua informasi yang                                information,   including    forward      looking
           wajar dan terdukung, termasuk informasi yang                         information.
           bersifat perkiraan masa depan (forward-
           looking).

           Perhitungan cadangan kerugian penurunan                              Calculation of allowance for impairment losses
           nilai atas aset keuangan yang dinilai secara                         on financial assets assessed collectively is
           kolektif, berdasarkan pada karakteristik risiko                      grouped based on similar credit risk
           kredit yang sama dengan mempertimbangkan                             characteristics and taking into account the loan
           segmentasi kredit berdasarkan permodelan                             segmentation based on future loss model
           kerugian masa depan.

           Bank menggunakan metode statistik, credit                            The Bank uses statistical method, credit rating
           rating dan perkiraan makroekonomi untuk                              and macroeconomy forecast to assess
           menilai cadangan kerugian penurunan nilai                            allowance for impairment losses on loans.
           atas kredit yang diberikan.




                                                                51
Page 448
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      f.   Cadangan kerugian penurunan nilai atas                         f.   Allowance for impairment                losses     on
           aset keuangan (lanjutan)                                            financial assets (continued)
      f.1. Kredit yang diberikan dan pembiayaan/piutang                   f.1. Loans and murabahah financing receivables
           murabahah
           Bank dapat menetapkan debitur untuk                                 Bank may assign debtors to be evaluated
           dievaluasi secara individual apabila memenuhi                       individually if they meet at least one of the
           minimal salah satu kriteria sebagai berikut:                        following criteria:
           Kredit Konsumer:                                                    Consumer Credit:
             1. Akun yang memenuhi kriteria sebagai                            1. Accounts that meet the following criteria:
                berikut:
                a. Akun yang default (bucket 5) atau                              a. Account that defaults (bucket 5) or
                     restrukturisasi; dan                                             restructured; and
                b. Memiliki pokok di atas atau sama                               b. Has a principal of more than or equal to
                     dengan Rp4 miliar                                                Rp4 billion
             2. Mengalami bencana alam yang ditentukan                         2. Experienced a natural disaster as
                oleh Otoritas Jasa Keuangan ataupun                               determined by the Financial Services
                instansi pemerintah dan disetujui Direksi.                        Authority or government agency and
                                                                                  approved by the Board of Directors.
             3. Kualitas kredit kolektibilitas 5 di atas 5                     3. Credit quality collectibility of 5 over 5 (five)
                (lima) tahun (minimal DPD 2006 hari)                              years (minimum DPD 2006 days) with the
                dengan kriteria tidak ada sertifikat atau                         criteria of no certificate or perfect binding
                belum dilakukan pengikatan sempurna                               (HT) except for program credit (SKMHT)
                (HT) kecuali kredit program (SKMHT)
             4. Hasil lelang dibawah kewajiban pokok                           4. The auction proceeds under the principal
                                                                                  obligation
             5. Terkait pemasalahan hukum dengan                               5. In relation to legal issues with indications,
                indikasi, antara lain:                                            among others:
                a. Sengketa agunan; atau                                          a. Collateral dispute ; or
                b. Sengketa lahan.                                                b. Land dispute.
                Dimana salah satu dari 2 (dua) sengketa                           Where one of the 2 (two) disputes a binding
                tersebut sudah terbit ketetapan hukum                             legal provision has been issued and causes
                mengikat dan menimbulkan kerugian bagi                            losses to the Bank.
                Bank.
             6. Debitur minimal masuk bucket 4 dan                             6. Debtors are at least in bucket 4 and there
                terdapat minimal 2 (dua) permasalahan                             are at least 2 (two) problems as follows:
                sebagai berikut:
                a. Tempat bekerja debitur atau usaha                               a. The debtor's place of work or the
                     debitur mengalami kebangkrutan                                   debtor's business is bankrupt
                b. Debitur terkena PHK                                             b. The debtor is laid off
                c. Sertifikat belum terbit selama minimal                          c. The certificate has not been issued for
                     36 bulan sejak akad kredit                                       at least 36 months since the credit
                                                                                      agreement
               d.   Rumah yang menjadi agunan tidak                                d. The house that became the collateral
                    selesai atau terbengkalai                                         was not finished or was abandoned
               e.   Pembayaran angsuran dilakukan oleh                             e. Installment payments are made by a
                    pihak ketiga yang tidak terafiliasi oleh                          third party that is not affiliated with the
                    debitur                                                           debtor
               f.   Debitur        sudah        mengalami                          f. The debtor has undergone restructuring
                    restrukturisasi minimal 2 (dua) kali.                             at least 2 (two) times.
               g.   Debitur mengalami permasalahan                                 g. The debtor is experiencing legal
                    hukum                                                             problems
               h.   Klaim asuransi terkait kredit ditolak/                         h. Insurance claims related to credit
                    tidak dibayar oleh asuradur.                                      rejected/not paid by the insurer.



                                                               52
Page 449
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      f.   Cadangan kerugian penurunan nilai atas                         f.   Allowance for impairment                losses     on
           aset keuangan (lanjutan)                                            financial assets (continued)

      f.1. Kredit yang diberikan dan pembiayaan/piutang                   f.1. Loans and murabahah financing receivables
           murabahah (lanjutan)                                                (continued)

           Kredit Komersial:                                                   Commercial Credit:

           1.   Akun yang memenuhi kriteria sebagai                            1. Accounts that meet the following criteria:
                berikut:
                a. Akun yang default (bucket 5) atau                              a. Account that defaults (bucket 5) or
                     restrukturisasi; dan                                             restructured; and
                b. Memiliki pokok di atas atau sama                               b. Has a principal of more than or equal to
                     dengan Rp30 miliar                                               Rp30 billion
           2.   Mengalami bencana alam yang ditentukan                         2. Experienced a natural disaster as
                oleh Otoritas Jasa Keuangan ataupun                               determined by the Financial Services
                instansi pemerintah dan disetujui Direksi.                        Authority or government agency and
                                                                                  approved by the Board of Directors.
           3.   Kualitas kredit kolektibilitas 5 di atas 5                     3. Credit quality collectibility of 5 over 5 (five)
                (lima) tahun (minimal DPD 2006 hari)                              years (minimum DPD 2006 days) with the
                dengan kriteria tidak ada sertifikat atau                         criteria of no certificate or perfect binding
                belum dilakukan pengikatan sempurna                               (HT) except for program credit (SKMHT)
                (HT) kecuali kredit program (SKMHT)
           4.   Hasil lelang dibawah kewajiban pokok                           4. The auction proceeds under the principal
                                                                                  obligation
           5.   Terkait pemasalahan hukum dengan                               5. In relation to legal issues with indications,
                indikasi, antara lain:                                            among others:
                a. Sengketa pengurus,                                             a. Collateral dispute ; or
                b. Sengketa agunan,                                               b. Collateral dispute,
                c. Sengketa lahan,                                                c. Land dispute,
                d. Sengketa proyek,                                               d. Project dispute
                Dimana salah satu dari 4 (empat) sengketa                         Where one of the 4 (four) disputes has
                tersebut sudah terbit ketetapan hukum                             issued a binding legal provision and/or
                mengikat dan menimbulkan kerugian bagi                            causes losses to the bank.
                bank.                                                          6. In the case of collectability using the 3
           6.   Dalam      hal penetapan kolektibilitas                           (three) pillar concept, the individual
                menggunakan konsep 3 (tiga) pilar maka                            assessment criteria can be determined with
                kriteria individual assessment dapat                              the following criteria: at least entering bucket
                ditetapkan dengan kriteria: minimal masuk                         4 (days arrears 61 days) and there are at
                bucket 4 (hari tunggakan 61 hari) dan                             least 2 (two) out of 3 (three) problems as
                terdapat minimal 2 (dua) dari 3 (tiga)                            follows:
                permasalahan sebagai berikut:
                a. Permasalahan           prospek      usaha                       a. Problems with decreased business
                       menurun dengan indikasi antara lain:                            prospects with indications include:
                      i.   Tidak terdapat pembayaran                                    i. There is no principal payment in
                           pokok sesuai dengan ketentuan                                   accordance with the provisions
                           dan atau kesepakatan yang telah                                 and/or agreements that have been
                           dibuat, atau                                                    made, or
                     ii.   Pembangunan berhenti lebih                                  ii. Construction has stopped for more
                           dari 1 (satu) tahun, dan/atau                                   than 1 (one) year, and/ or
                    iii.   Tidak terdapat penjualan lebih                             iii. There are no sales for more than 1
                           dari 1 (satu) tahun.                                            (one) year




                                                               53
Page 450
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      f.   Cadangan kerugian penurunan nilai atas                         f.   Allowance for impairment                losses     on
           aset keuangan (lanjutan)                                            financial assets (continued)

      f.1. Kredit yang diberikan dan pembiayaan/piutang                   f.1. Loans and murabahah financing receivables
           murabahah (lanjutan)                                                (continued)

            Kredit Komersial: (lanjutan)                                       Commercial Credit: (continued)

               b.   Permasalahan        agunan      dengan                          b. Collateral problems by meeting one of
                     memenuhi salah satu indikasi/ kriteria                            the following indications/criteria:
                     sebagai berikut:
                      i. Sertifikat agunan belum atas                                    i.    The collateral certificate is not yet
                         nama debitur atau pengurus yang                                       in the name of the debtor or
                         tidak      dapat    diikat     Hak                                    management that cannot be bound
                         Tanggungan;                                                           by the Mortgage;
                     ii. Sertifikat agunan belum dilakukan                              ii.    Collateral certificate has not been
                         pengikatan Hak Tanggungan 12                                          bound by the Mortgage Rights 12
                         bulan sejak akad kredit dan status                                    months since the credit agreement
                         default;                                                              and default status;
                    iii. Sertifikat tidak memiliki alas                                 iii.   The certificate has no legal basis
                         hukum         untuk      dilakukan                                    for transfer to the buyer;
                         pengalihan kepada pembeli;
                    iv. Agunan belum terbit sertifikat;                                 iv.The collateral has not been issued
                                                                                           a certificate;
                    v. Agunan tidak terbangun 100%                                     v. Collateral is not built 100%
                       khusus kredit investasi;                                            specifically for investment credit;
               c.   Permasalahan            kemampuan                              c. The problem of ability to pay has
                    membayar mengalami penurunan                                      decreased

           Perhitungan komponen PD, LGD, dan EAD                               The computation of PD, LGD, and EAD
           yang dilakukan secara kolektif pada setiap                          components carried out collectively in each
           segmentasi kredit mempertimbangkan data                             credit segmentation takes into account
           historis, saat ini dan masa yang akan datang.                       historical, current and future data.

           Perhitungan cadangan kerugian penurunan                             Calculation of allowance for impairment losses
           nilai atas aset keuangan yang dinilai secara                        on financial assets assessed collectively
           kolektif berdasarkan karakteristik risiko kredit                    grouped based on similar credit risk
           yang sama dengan mempertimbangkan                                   characteristics and taking into account the loan
           segmentasi kredit berdasarkan pengalaman                            segmentation based on historical loss
           kerugian masa lalu dan kemungkinan terjadinya                       experience and the possibility of failure
           kegagalan (probability of default). Aset                            (probability of default). Financial assets are
           keuangan          dikelompokan      berdasarkan                     grouped on the basis of similar credit risk
           karakteristik risiko kredit yang sama antara lain                   characteristics by considering the credit
           dengan mempertimbangkan segmentasi kredit                           segmentation and past due status of the
           dan tunggakan debitur.                                              debtors, among others.




                                                               54
Page 451
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI      YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                            POLICIES (continued)

      f.   Cadangan kerugian penurunan nilai atas                      f.   Allowance for impairment                losses     on
           aset keuangan (lanjutan)                                         financial assets (continued)

      f.1. Kredit yang diberikan dan pembiayaan/piutang                f.1. Loans and murabahah financing receivables
           murabahah (lanjutan)                                             (continued)

           Bank perlu mempertimbangkan informasi masa                       Bank needs to consider past, present and future
           lalu, masa sekarang dan masa depan dalam                         information in calculating the probability of
           menghitung kemungkinan kejadian gagal                            default. Therefore, the calculation of PD is
           bayar. Oleh karena itu, perhitungan PD                           carried out in the following stages:
           dilakukan dengan tahapan sebagai berikut:
            a. Perhitungan PD secara historis (PD TTC)                       a.   Historical PD calculation (PD TTC)
            b. Perhitungan PD forward-looking; dan                           b.   forward-looking PD calculation; and
            c. Perhitungan PD Point in time (PiT) melalui                    c.   Calculation of PD Point in time (PiT)
                proses scaling                                                    through a scaling process

           LGD merupakan estimasi kerugian atas debitur                     LGD is an estimated loss for a debtor by
           dengan menghitung recovery yang didapatkan                       calculating the recovery obtained after the
           setelah debitur tersebut default. LGD                            debtor defaults. LGD is calculated as 100%
           diperhitungkan sebesar 100% dikurangi tingkat                    minus the rate of return (recovery rate), LGD
           pengembalian (recovery rate), perhitungan                        calculation is carried out in the following stages:
           LGD dilakukan dengan tahapan sebagai
           berikut:
           a. Perhitungan LGD secara historis (LGD                          a.    Historical LGD calculation (LGD TTC);
               TTC);
           b. Perhitungan LGD Point in Time (LGD PiT)                       b.    Calculation of LGD Point in Time (LGD
               dengan mempertimbangkan informasi                                  PiT) by considering forward looking
               forward looking.                                                   information.

           Dalam membuat estimasi recoverable amount                        The Bank uses the fair value of collateral as the
           (estimasi jumlah yang dapat diperoleh                            basis for future cash flow if one of the following
           kembali), Bank dapat menggunakan metode                          conditions is met:
           berikut ini:
           a. Discounted Cash Flow                                          a.    Discounted Cash Flow
               Bank melakukan perhitungan berdasarkan                             The Bank performs calculations based on
               jumlah yang telah didiskonto (discounted                           the discounted amount (discounted value)
               value) dari estimasi arus kas masa datang                          of future cash flows (principal and interest)
               (pokok dan bunga) yang didiskonto                                  discounted based on the Effective Interest
               berdasarkan Suku Bunga Efektif dari setiap                         Rate of each loan.
               kredit.
           b. Expected Collateral                                           b.    Expected Collateral
               Bank melakukan perhitungan berdasarkan                             The Bank calculates earthquakes which
               estimasi penjualan agunan yang dilakukan                           are calculated based on the analysis
               dengan mempertimbangkan nilai wajar dan                            carried out by considering the fair value
               jangka waktu estimasi penjualan agunan di                          and the estimated future sales period. The
               masa depan. Hasil perhitungan akan                                 calculation results will be discounted
               didiskontokan berdasarkan Suku Bunga                               based on the Effective Interest Rate of
               Efektif dari setiap kredit.                                        each loan.
           c. Metode lainnya yang berdasarkan analisis                      c.    Other methods based on the Bank's
               Bank lebih sesuai dan tidak bertentangan                           analysis are more appropriate and do not
               dengan ketentuan Regulator.                                        conflict with the Regulators' provisions.




                                                            55
Page 452
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                       unless otherwise stated)


2.    IKHTISAR KEBIJAKAN          AKUNTANSI      YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                           POLICIES (continued)
       f. Cadangan kerugian penurunan nilai atas                       f. Allowance for impairment                 losses     on
          aset keuangan (lanjutan)                                        financial assets (continued)
      f.1. Kredit yang diberikan dan pembiayaan/piutang               f.1. Loans and murabahah financing receivables
           murabahah (lanjutan)                                            (continued)
          Sesuai dengan PSAK No. 102, “Akuntansi                           In accordance with SFAS No. 102, “Accounting
          Murabahah”     dan     Pedoman      Akuntansi                    for Murabahah” and Indonesia Sharia Banking
          Perbankan Syariah Indonesia (PAPSI) Revisi                       Accounting Guidelines (PAPSI Revised 2013),
          2013), Bank menghitung CKPN untuk piutang                        the Bank calculates individual allowance for
          murabahah sesuai dengan ketentuan di ISAK                        impairment losses for murabahah receivable in
          No. 102, “Penurunan Nilai Piutang Murabahah”.                    accordance with IFAS No. 102 “Impairment of
                                                                           Murabahah Receivables”.
       f.2. Pembiayaan/piutang syariah selain murabahah               f.2. Sharia financing/receivables           other     than
                                                                           murabahah
          Untuk aset keuangan berupa piutang istishna,                     For financial assets of istishna receivables,
          pinjaman qardh, pembiayaan mudharabah, dan                       funds of qardh, mudharabah financing, and
          pembiayaan musyarakah, Bank menerapkan                           musyarakah financing, the Bank implements
          Peraturan Otoritas Jasa Keuangan (POJK)                          POJK No.02/POJK.03/2022 dated January 31,
          No.02/POJK.03/2022 tanggal 31 Januari 2022                       2022 regarding “Asset Quality Ratings for
          tentang ”Penilaian Kualitas Aset Bank Umum                       Sharia Bank and Sharia Business Unit".
          Syariah dan Unit Usaha Syariah”.
          Cadangan kerugian minimum yang harus                            The minimum allowance to be provided in
          dibentuk sesuai dengan Peraturan Bank                           accordance with Bank Indonesia Regulation is
          Indonesia adalah sebagai berikut:                               as follows:

          a.   1% dari aset produktif yang digolongkan                    a. 1% of earning assets classified as Current,
               Lancar, di luar penempatan pada Bank                          excluding placements with Bank Indonesia,
               Indonesia, obligasi pemerintah, instrumen                     government bonds, other debt instruments
               hutang lain yang diterbitkan oleh                             issued by the Government of the Republic of
               Pemerintah Republik Indonesia dan aktiva                      Indonesia and earning assets secured by
               produktif yang dijamin dengan agunan                          cash collateral;
               tunai;
          b.   5% dari aset produktif yang digolongkan                    b. 5% of earning assets classified as Special
               Dalam Perhatian Khusus setelah dikurangi                      Mention, net of deductible collateral;
               agunan;
          c.   15% dari aset produktif yang digolongkan                   c. 15% of earning assets classified as Sub-
               Kurang Lancar setelah dikurangi agunan;                       standard, net of deductible collateral;
          d.   50% dari aset produktif yang digolongkan                   d. 50% of earning assets classified as
               Diragukan setelah dikurangi agunan; dan                       Doubtful, net of deductible collateral; and
          e.   100% dari aset produktif yang digolongkan                  e. 100% of earning assets classified as Loss,
               Macet setelah dikurangi agunan.                               net of deductible collateral.

          Kriteria penilaian nilai agunan yang dapat                      The criterias for assessment of the value of
          dikurangkan dalam pembentukan cadangan                          collateral that can be deducted in the calculation
          kerugian penurunan nilai sesuai dengan                          of allowance for impairment losses are based on
          Peraturan Bank Indonesia (OJK).                                 Bank Indonesia Regulations (OJK).




                                                           56
Page 453
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      g.   Giro pada Bank Indonesia dan bank lain                         g.   Current accounts with Bank Indonesia and
                                                                               other banks
           Giro pada Bank Indonesia dan bank lain                              Current accounts with Bank Indonesia and
           dinyatakan      sebesar    biaya     perolehan                      other banks are stated at amortized cost using
           diamortisasi menggunakan metode suku bunga                          the effective interest method less allowance for
           efektif dikurangi cadangan kerugian penurunan                       impairment losses. Current accounts with Bank
           nilai. Giro pada Bank Indonesia dan Bank lain                       Indonesia and other banks are classified as
           diklasifikasikan sebagai biaya perolehan                            amortized cost.
           diamortisasi.
      h.   Penempatan pada Bank Indonesia dan bank                        h.   Placements with Bank Indonesia and other
           lain                                                                banks
           Penempatan pada Bank Indonesia dan bank                             Placements with Bank Indonesia and other
           lain merupakan penanaman dana pada Bank                             banks represent placements of funds in Bank
           Indonesia berupa deposit facility, term deposit                     Indonesia in the form of deposit facility, term
           dan deposit facility syariah, sedangkan                             deposit and sharia deposit facility, whereas
           penempatan pada bank lain berupa deposito                           placement with other banks is in the form of
           berjangka, interbank call money dan tabungan.                       time deposit, interbank call money and savings.
           Penempatan pada Bank Indonesia dan bank                             Placements with Bank Indonesia and other
           lain dinyatakan sebesar biaya perolehan                             banks are stated at amortized cost using the
           diamortisasi menggunakan metode suku bunga                          effective interest method less allowance for
           efektif dikurangi cadangan kerugian penurunan                       impairment losses. Placements with Bank
           nilai. Penempatan pada Bank Indonesia dan                           Indonesia and other banks are classified as
           bank lain diklasifikasikan sebagai biaya                            amortized cost.
           perolehan diamortisasi.
      i.   Efek-efek dan obligasi pemerintah                              i.   Securities and government bonds
           Efek-efek terdiri dari surat berharga yang                          Securities consist of securities traded in the
           diperdagangkan dalam pasar modal dan pasar                          capital market and money market, such as Bank
           uang, antara lain Sertifikat Bank Indonesia                         Indonesia     Certificates  (SBI),    Deposits
           (SBI), Sertifikat Deposito Bank Indonesia                           Certificates of Bank Indonesia (SDBI), bonds,
           (SDBI), obligasi, Negotiable Certificate of                         Negotiable Certificate of Deposit (NCD),
           Deposit (NCD), Medium Term Notes (MTN),                             Medium Term Notes (MTN) mutual funds and
           penyertaan reksadana dan Efek Beragun Aset                          Asset Backed Securities (ABSs).
           (EBA).
           EBA adalah portofolio efek yang terdiri dari aset                   ABSs are securities portfolio consisting of
           keuangan berupa kumpulan tagihan kredit                             financial assets in the form of mortgages loan.
           kepemilikan rumah. EBA terbentuk ketika bank                        ABSs are created when bank sells its loans or
           menjual pinjaman atau utang lainnya kepada                          other debts to an issuer (financial institution)
           penerbit (lembaga keuangan) lalu disusun                            and then arranged in a portfolio in order to
           dalam suatu portofolio untuk dijual kembali                         resale to investors.
           kepada investor.

           Obligasi Pemerintah adalah obligasi yang                            Government bonds are bonds issued by the
           diterbitkan oleh Pemerintah Indonesia.                              Indonesian Government.

           Pengukuran efek-efek dan obligasi Pemerintah                        The      measurement      of     securities  and
           didasarkan atas klasifikasinya sebagai berikut:                     Government bonds are based on the
                                                                               classification of the securities as follows:




                                                               57
Page 454
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                            unless otherwise stated)


2.    IKHTISAR KEBIJAKAN             AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                POLICIES (continued)
      i.   Efek-efek dan obligasi pemerintah (lanjutan)                    i.   Securities       and       government          bonds
                                                                                (continued)
           Pengukuran efek-efek dan obligasi Pemerintah                         The      measurement   of    securities  and
           didasarkan atas klasifikasinya sebagai berikut:                      Government bonds are based on the
           (lanjutan)                                                           classification of the securities as follows:
                                                                                (continued)
           1.   Efek-efek dan obligasi pemerintah yang                          1. Securities and government bonds classified
                diklasifikasikan sebagai biaya perolehan                           as amortized cost are measured at
                yang diamortisasi diukur dengan biaya                              amortized cost using the effective interest
                perolehan yang diamortisasi menggunakan                            method. Interest income is recognized in the
                metode suku bunga efektif. Pendapatan                              statement of profit or loss and other
                bunga diakui dalam laporan laba rugi dan                           comprehensive income using the effective
                penghasilan      komprehensif        lain                          interest method.
                menggunakan metode suku bunga efektif.
           2.   Efek-efek dan obligasi pemerintah yang                          2. Securities and government bonds classified
                diklasifikasikan sebagai nilai wajar melalui                       as fair value through profit or loss (FVTPL)
                laba rugi (FVTPL) diukur dengan                                    are measured using fair value. Unrealized
                menggunakan nilai wajar. Keuntungan atau                           gains or losses resulting from changes in fair
                kerugian yang belum direalisasi akibat                             values are recognized in the statement of
                kenaikan atau penurunan nilai wajarnya                             profit or loss and other comprehensive
                disajikan dalam laporan laba rugi dan                              income. Changes in fair value are
                penghasilan komprehensif lain. Perubahan                           recognized in profit or loss. Upon sale of
                nilai wajar diakui pada laporan laba rugi.                         portfolio of fair value through profit or loss
                Atas penjualan portofolio efek-efek dan                            securities and government bonds, the
                obligasi pemerintah untuk nilai wajar                              difference between the selling price and the
                melalui laba rugi, perbedaan antara harga                          fair value is recognized as a gain or loss in
                jual dengan nilai pasar wajar diakui sebagai                       the year when the securities and
                keuntungan atau kerugian penjualan pada                            government bonds are sold.
                tahun dimana efek-efek dan obligasi
                pemerintah tersebut dijual.
           3.   Efek-efek dan obligasi pemerintah yang                          3. Securities and government bonds classified
                diklasifikasikan sebagai nilai wajar melalui                       as fair value through other comprehensive
                penghasilan komprehensif lain (FVTOCI)                             income (FVTOCI) are measured using fair
                diukur dengan menggunakan nilai wajar.                             value. Interest income is recognized in the
                Pendapatan bunga diakui dalam laporan                              statement of profit or loss and other
                laba rugi dan penghasilan komprehensif                             comprehensive income using the effective
                lain menggunakan metode suku bunga                                 interest method. Other fair value changes
                efektif. Perubahan nilai wajar lainnya diakui                      are recognized directly in equity until the
                langsung dalam ekuitas sampai efek-efek                            securities and Government bonds are sold
                dan obligasi pemerintah dijual atau                                or impaired, whereby the cumulative gains
                mengalami penurunan nilai, dimana                                  and losses previously recognized in the
                akumulasi keuntungan dan kerugian yang                             equity are recognized in the statement of
                sebelumnya diakui dalam ekuitas diakui                             profit or loss and other comprehensive
                dalam laporan laba rugi penghasilan                                income.
                komprehensif lain.
      j.   Kredit yang diberikan                                           j.   Loans
            Kredit yang diberikan merupakan penyediaan                          Loans represent the lending of money or
            uang atau tagihan yang dapat disamakan                              equivalent receivables under contracts with
            dengan itu, berdasarkan kesepakatan dengan                          borrowers, where the borrowers are required to
            pihak penerima kredit dan mewajibkan pihak                          repay their debts with interest after a specified
            penerima kredit untuk melunasi setelah jangka                       period of time.
            waktu tertentu dengan imbalan bunga.




                                                                58
Page 455
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                            unless otherwise stated)


2.    IKHTISAR KEBIJAKAN             AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                POLICIES (continued)

      j.   Kredit yang diberikan (lanjutan)                                j.   Loans (continued)

           Kredit yang diberikan (termasuk kredit yang                          Loans (including loans under syndication) are
           diberikan dalam pinjaman sindikasi) pada                             initially measured at fair value plus transaction
           awalnya diukur pada nilai wajar ditambah                             costs that are directly attributable to obtaining
           dengan      biaya   transaksi yang     dapat                         the financial asset. After initial recognition,
           diatribusikan secara langsung dan biaya                              loans are measured at amortized cost using the
           tambahan untuk memperoleh aset keuangan                              effective interest method, net of allowance for
           tersebut. Setelah pengakuan awal kredit yang                         impairment losses.
           diberikan diukur pada biaya perolehan
           amortisasi menggunakan metode suku bunga
           efektif dikurangi dengan cadangan kerugian
           penurunan nilai.
           Kredit yang diberikan diklasifikasikan sebagai                       Loans are classified as amortized costs.
           diukur pada biaya perolehan diamortisasi.

           Kredit yang diberikan dalam pinjaman sindikasi                       Loans under syndication or channelling are
           ataupun penerusan kredit dinyatakan sebesar                          stated at the principal amount equal to the risk
           pokok kredit sesuai dengan porsi risiko yang                         portion assumed by the Bank.
           ditanggung oleh Bank.

           Restrukturisasi kredit                                               Loan restructuring
           Restrukturisasi    kredit   meliputi adanya                          Loan restructuring may involve extending the
           perpanjangan jangka waktu pembayaran dan                             payment arrangements and new loan
           ketentuan kredit yang baru.                                          conditions.

           Kredit yang direstrukturisasi disajikan sebesar                      Restructured loans are stated at the lower of
           nilai yang lebih rendah antara nilai tercatat                        carrying value on the date of restructuring or
           kredit pada tanggal restrukturisasi atau nilai                       value of the future cash receipts after the
           tunai penerimaan kas masa depan setelah                              restructuring. Losses resulting from the
           restrukturisasi. Kerugian akibat selisih antara                      difference between the carrying value on the
           nilai tercatat kredit pada tanggal restrukturisasi                   date of restructuring the present value of future
           dengan nilai tunai penerimaan kas masa depan                         cash receipts after the restructuring is
           setelah restrukturisasi diakui dalam laporan                         recognized in the statement of profit or loss and
           laba rugi dan penghasilan komprehensif lain.                         other comprehensive income. After the
           Setelah restrukturisasi, semua penerimaan kas                        restructuring, all future cash receipts specified
           masa      depan      yang    ditetapkan    dalam                     by the new terms are recorded as a return of
           persyaratan baru dicatat sebagai pengembalian                        principal loans and interest income in
           pokok kredit yang diberikan dan pendapatan                           accordance with the terms of the restructuring.
           bunga       sesuai      dengan      syarat-syarat
           restrukturisasi.
           Penjualan Kredit Pemilikan Rumah (KPR)                               Sales of Housing Loans (KPR)
           Bank telah melakukan penjualan atas KPR                              The Bank sold its KPR to third parties.
           kepada pihak ketiga.

           Atas    penjualan    tersebut,     Bank     telah                    In relation with the above mention sale, the
           memindahkan risiko dan manfaat atas                                  Bank has transferred the risk and rewards of
           kepemilikan KPR kepada pihak lawan. Oleh                             ownership of the KPR to counterparty. Hence,
           karena itu, pada tanggal efektif penjualan, Bank                     at the effective date of the sale, the Bank
           menghentikan pengakuan atas KPR tersebut.                            derecognized the KPR.

           Penjualan tersebut telah memenuhi kriteria jual                      The sale has fulfill the criteria of true sale
           putus seperti yang tertuang dalam Peraturan                          according   to      OJK      regulation    No.
           OJK No.11/POJK.03/2019.                                              11/POJK.03/2019.



                                                                59
Page 456
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.     IKHTISAR KEBIJAKAN           AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT ACCOUNTING
       SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      k.   Pembiayaan/piutang syariah                                    k.   Sharia financing/receivables

           Pembiayaan/piutang         syariah        adalah                   Financing/receivables based on Sharia
           penyediaan uang atau tagihan yang dapat                            principles is receivables from providing funds or
           disamakan dengan itu, yang timbul dari                             other similar form of receivables arising from
           transaksi berdasarkan prinsip jual beli dan bagi                   transactions carried out based on sale or
           hasil antara Bank dengan pihak lain selama                         purchase arrangements and profit sharing
           jangka waktu tertentu. Piutang tersebut meliputi                   between Bank and other parties for a certain
           piutang murabahah, piutang istishna dan qardh,                     period of time. Such receivables consist of
           untuk pembiayaan meliputi pembiayaan                               receivables      arising     from    murabahah
           mudharabah dan pembiayaan musyarakah.                              transactions, istishna transactions and qardh
                                                                              transactions, for financing consist            of
                                                                              mudharabah and musyarakah financing.

           Murabahah adalah akad jual beli antara                             Murabahah is a sale and purchase contract
           nasabah dengan Bank, dimana Bank                                   between the customer and Bank, whereby Bank
           membiayai kebutuhan konsumsi, investasi dan                        finances the consumption, investment and
           modal kerja nasabah yang dijual dengan harga                       working capital needs of the customer sold with
           pokok ditambah dengan keuntungan yang                              a principle price plus a certain margin that is
           diketahui dan disepakati bersama. Pembayaran                       mutually informed and agreed. Repayment on
           atas pembiayaan ini dilakukan dengan cara                          this financing is made in installments within a
           mengangsur dalam jangka waktu yang                                 specified period.
           ditentukan.

           Piutang murabahah pada awalnya diukur pada                         Murabahah receivables are initially measured at
           nilai wajar ditambah dengan biaya transaksi                        fair value plus direct attributable transaction
           yang dapat diatribusikan secara langsung dan                       costs and is an additional cost to obtain the
           merupakan biaya tambahan untuk memperoleh                          respected financial assets and after the initial
           aset keuangan tersebut dan setelah pengakuan                       recognition are measured at amortized cost
           awal diukur pada biaya perolehan diamortisasi                      using the effective margin method less any
           menggunakan metode marjin efektif dikurangi                        allowance for impairment losses value.
           dengan cadangan kerugian penurunan nilai.

           Mudharabah        merupakan     pembiayaan                         Mudharabah financing is a joint financing made
           kerjasama antara Bank sebagai pemilik dana                         between Bank as the owner of the funds
           (shahibul maal) dengan nasabah sebagai                             (shahibul maal) and the customer as a business
           pelaksana usaha (mudharib) selama jangka                           executor (mudharib) during a certain period.
           waktu tertentu. Pembagian hasil keuntungan                         The profit sharing from the project or the
           dari proyek atau usaha tersebut ditentukan                         business is determined in accordance with the
           sesuai dengan nisbah (pre-determined ratio)                        mutually agreed nisbah (pre-determined ratio).
           yang telah disepakati bersama. Pada tanggal                        On the statement of financial position date,
           laporan    posisi   keuangan,   pembiayaan                         mudharabah financing is stated at the
           mudharabah dinyatakan sebesar saldo                                outstanding financing balance less allowance
           pembiayaan dikurangi dengan saldo cadangan                         for impairment losses which is provided based
           kerugian penurunan nilai yang dibentuk                             on the management’s review of the financing
           berdasarkan hasil reviu oleh manajemen                             quality.
           terhadap kualitas pembiayaan yang ada.




                                                              60
Page 457
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.     IKHTISAR KEBIJAKAN           AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT ACCOUNTING
       SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      k.   Pembiayaan/piutang syariah (lanjutan)                          k.   Sharia financing/receivables (continued)

           Musyarakah adalah akad kerjasama yang                               Musyarakah is a partnership contract among
           terjadi diantara para pemilik modal (mitra                          fund’s owners (musyarakah partners) to
           musyarakah) untuk menggabungkan modal                               contribute funds and conduct a business on a
           dan melakukan usaha secara bersama dalam                            joint basis through partnership with the profit
           suatu kemitraan dengan nisbah pembagian                             sharing based on a predetermined ratio, while
           hasil sesuai dengan kesepakatan, sedangkan                          the losses are borne proportionally based on
           kerugian ditanggung secara proporsional                             the capital contribution. On the statement of
           sesuai dengan kontribusi modal. Pada tanggal                        financial position date, musyarakah financing is
           laporan    posisi    keuangan,   pembiayaan                         stated at the outstanding financing balance less
           musyarakah      dinyatakan   sebesar   saldo                        allowance for impairment losses which is
           pembiayaan dikurangi dengan saldo cadangan                          provided based on the management’s review on
           kerugian penurunan nilai yang dibentuk                              the financing quality.
           berdasarkan hasil reviu oleh manajemen
           terhadap kualitas pembiayaan yang ada.

           Istishna adalah akad penjualan antara al-                           Istishna is a sale and purchase contract
           mustashni (pembeli) dan al-shani (produsen                          between al-mustashni (buyer) and al-shani
           yang juga bertindak sebagai penjual).                               (manufacturer also acting as the seller). Based
           Berdasarkan akad tersebut, pembeli menugasi                         on the contract, the buyer orders the
           produsen untuk membuat atau mengadakan al-                          manufacturer to produce or to supply al-mashnu
           mashnu (barang pesanan) sesuai spesifikasi                          (goods ordered) according to the specifications
           yang diisyaratkan pembeli dan menjualnya                            required by the buyer and to sell them at agreed
           dengan harga yang disepakati. Piutang istishna                      price. Istishna receivables are stated at
           disajikan sebesar tagihan termin kepada                             outstanding billings to final buyer less allowance
           pembeli akhir dikurangi cadangan kerugian                           for impairment losses.
           penurunan nilai.

           Qardh adalah penyediaan dana atau tagihan                           Qardh is the provision of funds or equivalent
           yang dapat dipersamakan dengan itu                                  claims based on agreement between the
           berdasarkan persetujuan atau kesepakatan                            borrower and the lender that requires the
           antara peminjam dan pihak yang meminjamkan                          borrower to repay the debts after a certain
           yang    mewajibkan      peminjam     melunasi                       period of time. Qardh are stated at outstanding
           hutangnya setelah jangka waktu tertentu.                            balance less allowance for impairment losses
           Pinjaman qardh dinyatakan sebesar saldo                             based on the management’s review on the
           pinjaman dikurangi dengan saldo cadangan                            financing quality.
           kerugian penurunan nilai yang dibentuk
           berdasarkan hasil reviu oleh manajemen
           terhadap kualitas pinjaman yang ada.
      l.   Tagihan dan liabilitas akseptasi                               l.   Acceptances receivable and payable
           Tagihan dan liabilitas akseptasi merupakan                          Acceptances receivable and payable represent
           transaksi Surat Kredit Berdokumen Dalam                             Letters of Credit by Local Document (SKBDN)
           Negeri (SKBDN) yang diaksep oleh bank                               transactions that have been accepted by the
           pengaksep (accepting bank).                                         accepting bank.
           Tagihan dan liabilitas akseptasi dinyatakan                         Acceptances receivable and payable are stated
           sebesar biaya perolehan diamortisasi. Tagihan                       at amortized cost. Acceptances receivable are
           akseptasi disajikan setelah dikurangi cadangan                      stated net of allowance for impairment losses.
           kerugian penurunan nilai.

           Tagihan dan liabilitas akseptasi diklasifikasikan                   Acceptances receivable and             payable     are
           sebagai diukur pada biaya perolehan                                 classified as amortized costs.
           amortisasi.




                                                               61
Page 458
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      m. Penyertaan Saham                                                m. Investment in shares

           Penyertaan saham merupakan investasi jangka                        Investments in shares represent long-term
           panjang pada perusahaan non-publik serta                           investments in non-publicly-listed companies
           penyertaan modal sementara pada perusahaan                         and temporary investments in debtor
           debitur yang timbul akibat konversi kredit yang                    companies arising from conversion of loans or
           diberikan atau jenis transaksi tertentu yang                       certain of transactions which resulted The Bank
           berakibat Bank memiliki saham pada                                 have shares in debtor’s company.
           perusahaan debitur.

           Penyertaan saham          dengan persentase                        Investments in shares represent ownership
           kepemilikan 20,00% sampai dengan 50,00%                            interests of 20.00% to 50.00% are recorded
           dicatat dengan metode ekuitas. Dalam metode                        using the equity method. Under this method,
           ini, penyertaan dicatat sebesar biaya perolehan                    investments are recorded at cost and adjusted
           disesuaikan dengan bagian Bank atas ekuitas                        for the Bank’s proportionate share in the net
           perusahaan asosiasi dan dikurangi dengan                           equity of the investees and reduced by
           penerimaan dividen sejak tanggal perolehan,                        dividends earned starting the acquisition date
           dikurangi cadangan kerugian penurunan nilai.                       net of by allowance for impairment losses

           Penyertaan modal sementara dihapusbuku dari                        Temporary investment is written-off from the
           laporan posisi keuangan apabila telah                              statement of financial position if it is held for
           melampaui jangka waktu 5 (lima) tahun sesuai                       more than 5 (five) years in accordance with OJK
           dengan Peraturan OJK No. 40/POJK.03/2019                           Regulation No. 40/POJK.03/2019 regarding
           tentang “Penilaian Kualitas Aset Bank Umum”.                       “Asset Quality Rating for Commercial Banks”.

      n.   Aset tetap                                                    n.   Premises and equipment

           Aset tetap awalnya diakui sebesar biaya                            All premises and equipment are initially
           perolehan, yang terdiri atas harga perolehan                       recognized at cost, which comprises its
           dan biaya-biaya tambahan yang dapat                                purchase price and any costs directly
           diatribusikan langsung untuk membawa aset ke                       attributable in bringing the asset to the location
           lokasi dan kondisi yang diinginkan supaya aset                     and condition necessary for it to be capable of
           tersebut siap digunakan sesuai dengan maksud                       operating in the manner intended by
           manajemen.                                                         management.

           Setelah pengakuan awal, aset tetap selain                          Subsequent to initial recognition, premises and
           tanah dinyatakan pada biaya perolehan                              equipment besides lands are carried at cost
           dikurangi akumulasi penyusutan dan akumulasi                       less any subsequent accumulated depreciation
           rugi penurunan nilai.                                              and impairment losses.

           Aset tetap yang diperoleh dalam pertukaran                         Premises and equipment acquired in exchange
           aset non-moneter atau kombinasi aset moneter                       for a non-monetary asset or for a combination
           dan non-moneter diukur pada nilai wajar,                           of monetary and non-monetary assets are
           kecuali:                                                           measured at fair values, unless:

           (i) Transaksi pertukaran tidak         memiliki                    (i) The   exchange      transaction              lacks
               substansi komersial, atau                                          commercial substance, or

           (ii) Nilai wajar dari aset yang diterima dan                       (ii) The fair value of neither the assets received
                diserahkan tidak dapat diukur secara andal.                        nor the assets given up can be measured
                                                                                   reliably.




                                                              62
Page 459
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI         YANG          2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      n.   Aset tetap (lanjutan)                                         n.   Premises and equipment (continued)

           Penyusutan bangunan dihitung dengan                                Depreciation of buildings is computed using the
           menggunakan metode garis lurus (straight-line                      straight-line method while depreciation of office
           method) sedangkan peralatan kantor dan                             furniture and fixtures, and motor vehicles is
           kendaraan      bermotor    dihitung  dengan                        computed using the double-declining balance
           menggunakan metode saldo menurun ganda                             method, based on the estimated useful lives of
           (double-declining       balance     method)                        the assets as follows:
           berdasarkan taksiran masa manfaat aset tetap
           sebagai berikut:

                                                         Tahun/Years
           Bangunan                                           10 - 20                                                Buildings
           Peralatan kantor dan kendaraan bermotor             4-8            Office furniture and fixtures and motor vehicles
           Penilaian aset tetap dilakukan atas penurunan                      The carrying amounts of premises and
           dan kemungkinan penurunan nilai wajar aset                         equipment are reviewed for impairment when
           jika terjadi peristiwa atau perubahan keadaan                      events or changes in circumstances indicate
           yang mengindikasikan bahwa nilai tercatat                          that the carrying values may not be fully
           mungkin tidak dapat seluruhnya terealisasi.                        recoverable.

           Pada setiap akhir tahun buku, manajemen                            The residual values, useful lives and methods
           melakukan pengkajian ulang atas nilai residu,                      of depreciation of premises and equipment are
           masa manfaat dan metode penyusutan dan                             reviewed by the management and adjusted
           disesuaikan secara prospektif, jika diperlukan.                    prospectively, if appropriate, at the end of each
                                                                              year, if necessary.

           Jumlah tercatat aset tetap dihentikan                              An item of premises and equipment is
           pengakuannya pada saat dilepaskan atau saat                        derecognized upon disposal or when no future
           tidak ada manfaat ekonomis masa depan yang                         economic benefits are expected from its use or
           diharapkan     dari     penggunaan       atau                      disposal. Any gain or loss arising on
           pelepasannya. Laba atau rugi yang timbul dari                      derecognition of the asset (calculated as the
           penghentian pengakuan aset (dihitung sebagai                       difference between the net disposal proceeds
           perbedaan antara jumlah neto hasil pelepasan                       and the carrying amount of the asset) is
           dan jumlah tercatat dari aset) diperhitungkan                      included in the statement of profit or loss and
           dalam laporan laba rugi dan penghasilan                            other comprehensive income in the period such
           komprehensif lain pada periode aset tersebut                       asset is derecognized.
           dihentikan pengakuannya.

           Tanah awalnya dinyatakan sebesar biaya                             Land are initially recognized at cost and not
           perolehan dan tidak disusutkan. Setelah                            depreciated. Subsequent to initial recognition,
           pengakuan awal, tanah diukur pada nilai wajar                      land is measured at fair value at the revaluation
           pada tanggal revaluasi dikurangi akumulasi rugi                    date less any subsequent accumulated
           penurunan nilai setelah tanggal revaluasi.                         impairment losses. Valuation of land are
           Penilaian terhadap tanah dilakukan oleh penilai                    performed by appraisers with professional
           yang memiliki kualifikasi profesional, dan                         qualification and is done in regular basis to
           dilakukan secara berkala untuk memastikan                          ensure that the carrying amount does not differ
           bahwa jumlah tercatat tanah tidak berbeda                          materially from its fair value at the end of
           secara material dengan jumlah yang ditentukan                      reporting period (Note 14).
           dengan menggunakan nilai wajarnya pada akhir
           periode pelaporan (Catatan 14).




                                                             63
Page 460
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      n.   Aset tetap (lanjutan)                                         n.   Premises and equipment (continued)

           Kenaikan nilai tercatat yang timbul dari                           Increase in the carrying amount arising from
           revaluasi dicatat sebagai “Surplus Revaluasi                       revaluation is recorded in “Premises and
           Aset Tetap”, dan disajikan dalam penghasilan                       equipment Revaluation Surplus” and presented
           komprehensif lain. Namun, kenaikan tersebut                        in other comprehensive income. However, the
           diakui dalam laba rugi hingga sebesar jumlah                       increase is recognized in profit or loss, up to the
           penurunan nilai aset yang sama akibat                              amount of impairment of the same assets due
           revaluasi yang pernah dilakukan sebelumnya                         to revaluation previously recognized in profit or
           dalam laba rugi. Penurunan nilai tercatat yang                     loss. A decrease in carrying value arising as a
           timbul dari revaluasi diakui dalam laba rugi.                      result of a revaluation should be recognized in
                                                                              profit or loss.

           Beban     pemeliharaan      dan     perbaikan                      Repairs and maintenance is charged to the
           dibebankan pada operasi pada saat terjadinya.                      profit or loss as incurred. The cost of major
           Beban pemugaran dan penambahan bahan                               renovation and restoration is capitalized to the
           dalam jumlah besar dikapitalisasi kepada                           carrying amount of the related premises and
           jumlah tercatat aset tetap terkait bila besar                      equipment when it is probable that future
           kemungkinan bagi kelompok usaha manfaat                            economic benefits in excess of the originally
           ekonomi masa depan menjadi lebih besar dari                        assessed standard of performance of the
           standar kinerja awal yang ditetapkan                               existing asset and is depreciated over the
           sebelumnya dan disusutkan sepanjang sisa                           remaining useful life of the related asset.
           masa manfaat aset tetap terkait.

           Aset tetap dalam penyelesaian dicatat sebesar                      Construction in-progress are stated at cost,
           biaya perolehan, yang mencakup kapitalisasi                        including capitalized borrowing costs and other
           beban pinjaman dan biaya-biaya lainnya yang                        charges incurred in connection with the
           terjadi sehubungan dengan pendanaan aset                           financing of the said asset constructions. The
           tetap dalam penyelesaian tersebut. Akumulasi                       accumulated costs will be reclassified to the
           biaya perolehan akan direklasifikasi ke akun                       appropriate “Premises and Equipment” account
           “Aset Tetap” yang bersangkutan pada saat aset                      when the construction is completed and
           tetap tersebut telah selesai dikerjakan dan siap                   available for intended use. Assets under
           untuk     digunakan.     Aset     tetap   dalam                    construction are not depreciated as these are
           penyelesaian tidak disusutkan karena belum                         not yet available for use.
           tersedia untuk digunakan.

           Biaya pengurusan legal hak atas tanah dalam                        The legal cost of land rights in the form of
           bentuk Hak Guna Usaha (“HGU”), Hak Guna                            Business Usage Rights (“Hak Guna Usaha” or
           Bangunan (“HGB”) dan Hak Pakai (“HP”) ketika                       “HGU”), Building Usage Right (“Hak Guna
           tanah diperoleh pertama kali diakui sebagai                        Bangunan” or “HGB”) and Usage Rights (“Hak
           bagian dari biaya perolehan tanah pada akun                        Pakai” or “HP”) when the land was initially
           “Aset Tetap”. Biaya pengurusan perpanjangan                        acquired are recognized as part of the cost of
           atau pembaruan legal hak atas tanah diakui                         the land under the “Premises and Equipment”.
           sebagai aset tidak berwujud dan diamortisasi                       The extension or the legal renewal costs of land
           sepanjang umur hak hukum atau umur ekonomi                         rights were recognized as intangible assets and
           tanah, mana yang lebih pendek.                                     were amortized over the shorter of the rights'
                                                                              legal life and land's economic life.




                                                              64
Page 461
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      n.   Aset tetap (lanjutan)                                         n.   Premises and equipment (continued)

           Jika nilai wajar dari aset yang direvaluasi                        If the fair value of the revalued asset change
           mengalami perubahan yang signifikan dan                            significantly, it is necessary to revaluate on an
           fluktuatif, maka perlu direvaluasi secara                          annual basis, whereas if the fair value of the
           tahunan, sedangkan jika nilai wajar dari aset                      revaluated asset does not change significantly,
           yang direvaluasi tidak mengalami perubahan                         it is necessary to revaluate at a minimum every
           yang signifikan dan fluktuatif, maka perlu                         3 (three) years.
           dilakukan revaluasi paling kurang 3 (tiga) tahun
           sekali.

      o.   Aset hak guna dan liabilitas sewa                             o.   Right-of use assets and lease liabilities

           PSAK No. 73 menerapkan persyaratan baru                            SFAS No. 73 introduces new or amended
           atau amandemen sehubungan dengan                                   requirements with respect to lease accounting.
           akuntansi sewa. Standar ini memperkenalkan                         It introduces significant changes to lessee
           perubahan signifikan untuk akuntansi lessee                        accounting by removing the distinction between
           dengan menghapus perbedaan antara sewa                             operating and finance lease and requiring the
           operasi dan pembiayaan dan pengakuan aset                          recognition of a right-of-use asset and a lease
           hak guna dan liabilitas sewa, kecuali untuk                        liability at commencement for all leases, except
           sewa jangka pendek dan aset dengan nilai                           for short-term leases and leases of low value
           rendah. Berbeda dengan akuntansi lessee,                           assets. In contrast to lessee accounting, the
           persyaratan untuk akuntansi lessor sebagian                        requirements for lessor accounting have
           besar tidak berubah. Dalam hal ini, Bank                           remained largely unchanged. In this case, Bank
           terekspos risiko Bank sebagai lessee.                              is exposed the risk of the Bank as lessee.

           a) Dampak definisi baru dari sewa                                  a) Impact of the new definition of a lease

               Perubahan utama dari definisi sewa                                 The change in the definition of a lease
               berkaitan dengan konsep pengendalian.                              mainly relates to the concept of control.
               PSAK No. 73 menentukan apakah kontrak                              SFAS No. 73 determines whether a
               merupakan, atau mengandung sewa atas                               contract is, or contains, a lease if the lessee
               dasar jika penyewa memiliki hak untuk                              has the right to control the use of an
               mengendalikan penggunaan aset selama                               identified asset for a certain period of time
               suatu jangka waktu tertentu untuk                                  in exchange for consideration. This is in
               dipertukarkan dengan imbalan. Hal tersebut                         contrast to the focus on 'risks and rewards'
               merupakan perbedaan penentuan kontrak                              in SFAS No. 30.
               merupakan, atau mengandung sewa
               berdasarkan PSAK No. 30 yaitu dengan
               konsep risiko dan manfaat.
              Bank menerapkan definisi sewa dan                                    The Bank applies the definition of a lease
              panduan terkait yang diterapkan dalam                                and related guidance set out in SFAS No.
              PSAK No. 73 untuk semua kontrak yang                                 73 to all contracts entered into or changed
              dicatat atau diubah pada atau setelah                                on or after January 1, 2020.
              tanggal 1 Januari 2020.




                                                              65
Page 462
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI      YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                            POLICIES (continued)

      o.   Aset hak guna dan liabilitas sewa (lanjutan)                o.   Right-of use assets and lease liabilities
                                                                            (continued)

           b)    Panduan         praktis,    pengecualian                    b)    Practical      expedient,        recognition
                 pengakuan dan pilihan kebijakan pada                              exemption and accounting policy option at
                 saat masa transisi, Bank memilih untuk                            the transition date, Bank decided to use
                 menerapkan panduan praktis yang                                   the practical expedient that is permitted in
                 terdapat pada panduan transisi dalam                              SFAS No. 73, as:
                 PSAK No. 73, yang antara lain:                                    1. Using a single discount rate to a
                 1. Penggunaan tingkat diskonto tunggal                                portfolio of leases with reasonably
                     untuk    portofolio   sewa dengan                                 similar characteristics;
                     karakteristik yang hampir sama;
                 2. Tidak menerapkan pengakuan dan                                 2. Not to apply the recognition and
                     pengukuran berdasarkan PSAK 73                                   measurement according to SFAS No.
                     untuk kontrak dengan masa sewa                                   73 of the contracts which lease term
                     kurang dari 12 bulan pada tanggal 1                              ends within 12 months of January 1,
                     Januari 2020 dan dicatat sebagai                                 2021 and recorded as short term
                     sewa jangka pendek; dan                                          lease; and
                 3. Pengecualian biaya langsung awal                               3. Exclude intial direct cost from the
                     dari pengukuran aset hak guna pada                               measurement of the right of use
                     tanggal penerapan awal.                                          assets at the date of initial application.

                Bank memilih pengecualian pengakuan                               Bank may choose the recognition exemption
                untuk tidak menerapkan pengakuan dan                              not to recognize and measure according to
                pengukuran berdasarkan PSAK No. 73                                SFAS No. 73 of the contract:
                untuk kontrak:
                 1. Sewa jangka pendek dengan masa                                1. Short term leases for which lease term
                     sewa 12 bulan atau kurang; dan                                  is or below 12 months; and
                 2. Sewa dengan aset pendasar bernilai                            2. Lease for which the underlying asset is
                     rendah.                                                         low value.

                Bank mengakui pembayaran sewa jangka                              Bank recognise the lease payment of short
                pendek dan aset bernilai rendah sebagai                           term and low value leases as an expense
                beban baik dengan dasar garis lurus                               on either a straight line basis over ther lease
                maupun dasar sistematik lainnya yang                              term or another systematic basis which
                merepresentasikan pola manfaat.                                   represent the pattern of the benefit.

                Selain itu, Bank juga memilih pilihan                             Besides, Bank may choose the policy
                kebijakan untuk:                                                  option:
                1. Tidak memisahkan kompenen nonsewa                              1. Not to separate the non-leased
                   dari komponen sewa, dan memilih                                    component from lease component, and
                   mencatat masing-masing komponen                                    choose to record the lease component
                   sewa dan komponen nonsewa terkait                                  and non-leased component as a single
                   sebagai komponen sewa tunggal.                                     lease component.
                2. Tidak mencatat sewa atas aset tak                              2. Not to record the lease of intangible
                   berwujud berdasarkan PSAK No. 73.                                  assets according to SFAS No. 73.




                                                            66
Page 463
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI       YANG           2.     SUMMARY OF SIGNIFICANT ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      o.   Aset hak guna dan liabilitas sewa (lanjutan)                 o.   Right-of use assets and lease liabilities
                                                                             (continued)

           c)   Dampak pada akuntansi lessee                                  c)   Impact on lessee accounting

                Bank       menerapkan       pendekatan                             Bank applies a single recognition and
                pengakuan dan pengukuran tunggal                                   measurement approach for the entire
                untuk seluruh sewa, kecuali untuk sewa                             lease, except for the short terms and low-
                jangka pendek dan sewa aset bernilai                               value lease. Bank recognises lease
                rendah. Bank mengakui liabilitas sewa                              liabilities for the lease payments and right
                untuk melakukan pembayaran sewa dan                                of use asset that represent right of use of
                aset hak guna yang mewakili hak untuk                              the underlying asset
                menggunakan aset pendasar.

                Bank mengakui aset hak guna dan                                    Bank recognises right of use asset and
                liabilitas sewa pada tanggal permulaan                             lease liabilities at the commencement
                sewa.                                                              date.

                Pada tanggal permulaan sewa, aset hak                              On the commencement date, right of use
                guna diukur pada biaya perolehan yang                              assets measured at cost, which shall
                meliputi jumlah pengukuran awal liabilitas                         comprise the amount initial measurement
                sewa, biaya langsung awal yang                                     of lease liabilities, initial direct cost
                dikeluarkan, estimasi biaya restorasi dan                          incurred, an estimate of restoration cost,
                pembayaran sewa yang dilakukan pada                                and lease payments made at or before the
                atau sebelum tanggal mulai sewa                                    commencement date less the rental
                dikurangi insentif sewa yang diterima.                             incentives received. For the subsequent
                Untuk pengurukuran selanjutnya, aset                               measurements, the right of use assets
                hak guna dikurangi dengan akumulasi                                less the accumulated depreciation, any
                penyusutan dan kerugian penurunan nilai,                           accumulated impairment losses, and
                serta     disesuaikan    untuk      setiap                         adjusted for any remeasurement of lease
                pengukuran kembali liabilitas sewa.                                liabilities.

                Aset hak guna disusutkan dengan metode                             Right of use assets depreciated by
                sesuai dengan persyaratan depresiasi                               methods in accordance with the fixed
                yang ada pada aset tetap.                                          assets depreciation requirements.

                Jika kepemilikan aset sewa dialihkan ke                            If the ownership of lease assets
                Bank pada akhir masa sewa atau                                     transferred to the Bank at the end of the
                pembayaran      sewa     mencerminkan                              lease term or the lease payments reflects
                pelaksanaan opsi pembelian, penyusutan                             the purchase option, then the depreciation
                dihitung menggunakan estimasi masa                                 period measured by using the estimation
                manfaat ekonomis aset. Aset hak guna                               of asset economic benefit. The right of use
                diuji penurunan nilainya sesuai dengan                             asset tested for impairment in accordance
                PSAK No. 48 Penurunan Nilai Aset.                                  with SFAS No. 48 Impairment of Asset.




                                                             67
Page 464
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      o.   Aset hak guna dan liabilitas sewa (lanjutan)                  o.   Right-of use assets and lease liabilities
                                                                              (continued)
           Pada tanggal permulaan sewa, Bank mengakui                         At the commencement date, Bank recognized
           liabilitas sewa yang diukur pada nilai kini dari                   the lease liabilities measured at the present
           pembayaran sewa masa depan yang akan                               value of the future lease payment during the
           dilakukan selama masa sewa. Pembayaran                             lease term. Lease payment including the fixed
           sewa termasuk pembayaran tetap (termasuk                           payment (including substantial fixed-payments)
           pembayaran tetap secara-substansi) dikurangi                       less lease incentive receivable, variable lease
           piutang insentif sewa, pembayaran sewa                             payment that depend on the index or exchange
           variabel yang bergantung pada indeks atau                          rate, and the expected amount will be paid in a
           kurs, dan jumlah yang diharapkan akan dibayar                      residual value guarantee. Lease payments also
           dalam jaminan nilai residu. Pembayaran sewa                        include the execution price of a reasonable
           juga termasuk harga eksekusi opsi pembelian                        purchase option if it ensured to exercise by the
           yang wajar jika dipastikan akan dilakukan oleh                     Bank and the penalty payment to terminate the
           Bank dan pembayaran penalti untuk                                  lease, if the lease term reflects the Bank to
           mengakhiri sewa, jika jangka waktu sewa                            execute the lease termination option. Variable
           mencerminkan Bank mengeksekusi opsi                                lease payments that do not rely on the index or
           penghentian sewa. Pembayaran sewa variabel                         exchange rates recognized as expense in
           yang tidak bergantung pada indeks atau kurs                        periods in which events or conditions that
           diakui sebagai beban pada periode di mana                          trigger payments occur.
           peristiwa atau      kondisi yang memicu
           pembayaran terjadi.

           Dalam menghitung nilai kini dari pembayaran                        In calculating the present value of lease
           sewa, Bank menggunakan suku bunga                                  payments, Bank uses the incremental
           pinjaman inkremental penyewa pada tanggal                          borrowing rate of the lessee at the
           dimulainya sewa karena suku bunga implisit                         commencement date of the lease, as the
           dalam sewa tidak dapat ditentukan. Untuk                           implicit interest rate of the lease cannot be
           pengukuran selanjutnya, jumlah liabilitas sewa                     determined. For the subsequent measurement,
           ditingkatkan        untuk       mencerminkan                       amount of lease liabilities increased to reflect
           pertambahan        bunga      dan     dikurangi                    the increasing of interest and reduced by the
           pembayaran sewa yang dilakukan. Selain itu,                        lease payments. In addition, the carrying
           jumlah tercatat liabilitas sewa diukur kembali                     amount of lease liabilities remeasured if there
           jika terdapat modifikasi, perubahan jangka                         is a modification, change in lease term, change
           waktu sewa, perubahan pembayaran sewa,                             of lease payment, or changes in assessment of
           atau perubahan dalam penilaian opsi untuk                          purchase option of the underlying asset.
           membeli aset pendasar.

           PSAK No. 73 mengubah cara Bank menyajikan                          SFAS No. 73 changes the way of Bank
           sewa yang sebelumnya diklasifikasikan                              presents lease that previously classified as an
           sebagai sewa operasi pada PSAK No. 30, yang                        operating lease in SFAS No. 30, which not
           tidak diungkapkan dalam laporan keuangan,                          disclosed in financial statements, with the
           dengan rincian sebagai berikut:                                    details of below:

           1.   Menyajikan aset hak-guna secara                               1.   Present the right of use asset separately
                terpisah;
           2.   Menyajikan liabilitas sewa sebagai bagian                     2.   Present the lease liabilities as part of other
                dari liabilitas lain-lain;                                         liabilities
           3.   Menyajikan beban penyusutan aset hak-                         3.   Present the depreciation expense of right
                guna dan beban bunga liabilitas sewa                               of use asset and interest expense of lease
                sebagai bagian dari beban umum dan                                 liabilities as part of general and
                administrasi; dan                                                  administrative expenses, and
           4.   Memisahkan jumlah total pembayaran ke                         4.   Separate the total amount of payment to
                bagian pokok (disajikan dalam kegiatan                             the principal (presented in financing
                pendanaan) dan bunga (disajikan dalam                              activities) and interest (presented in
                kegiatan operasional) dalam laporan arus                           operational activities) in the statement of
                kas                                                                cash flow.

                                                              68
Page 465
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                   and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                             unless otherwise stated)


2.    IKHTISAR KEBIJAKAN             AKUNTANSI        YANG            2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                                 POLICIES (continued)

      p.   Penurunan nilai aset non-keuangan                                p.   Impairment of non-financial assets

           Pada setiap akhir periode pelaporan, Bank                             The Bank assesses at each annual reporting
           menilai apakah terdapat indikasi suatu aset                           period whether there is an indication that an
           mengalami penurunan nilai. Jika terdapat                              asset may be impaired. If any such indication
           indikasi tersebut, maka Bank akan membuat                             exists, Bank makes an estimate of the asset’s
           estimasi atas jumlah terpulihkan aset tersebut.                       recoverable amount.

           Jumlah terpulihkan yang ditentukan untuk aset                         An asset’s recoverable amount is the higher of
           individual adalah jumlah yang lebih tinggi antara                     an asset’s or Cash Generating Unit (CGU)’s fair
           nilai wajar aset atau Unit Penghasil Kas (UPK)                        value less costs of disposal and its value in use,
           dikurangi biaya pelepasan dengan nilai                                and is determined for an individual asset, unless
           pakainya, kecuali aset tersebut tidak                                 the asset does not generate cash inflows that
           menghasilkan arus kas masuk yang sebagian                             are largely independent of those from other
           besar independen dari aset atau kelompok aset                         assets or groups of assets.
           lain.

           Jika nilai tercatat aset lebih besar daripada nilai                   Where the carrying amount of an asset exceeds
           terpulihkannya, maka aset tersebut dianggap                           its recoverable amount, the asset is considered
           mengalami penurunan nilai dan nilai tercatat                          impaired and is written down to its recoverable
           aset diturunkan menjadi sebesar nilai                                 amount. Impairment losses of continuing
           terpulihkannya. Rugi penurunan nilai dari                             operations are recognized in the statement of
           operasi yang berkelanjutan diakui pada laporan                        profit or loss and other comprehensive income
           laba rugi dan penghasilan komprehensif lain                           as “impairment losses”.
           sebagai “rugi penurunan nilai”.

           Dalam menghitung nilai pakai, estimasi arus                           In assessing the value in use, the estimated net
           kas masa depan neto didiskontokan ke nilai kini                       future cash flows are discounted to their present
           dengan menggunakan tingkat          diskonto                          value using a pre-tax discount rate that reflects
           sebelum pajak yang menggambarkan penilaian                            current market assessments of the time value of
           pasar kini atas nilai waktu uang dan risiko                           money and the risks specific to the asset.
           spesifik aset.

           Dalam menentukan nilai wajar dikurangi biaya                          In determining fair value less costs of disposal,
           pelepasan, mengacu pada PSAK No. 68:                                  refers to SFAS No. 68, "Fair Value
           ”Pengukuran Nilai Wajar” (Catatan 2e).                                Measurements" (Note 2e).

           Kerugian penurunan nilai dari operasi yang                            Impairment losses of continuing operations, if
           berkelanjutan, jika ada, diakui pada laporan                          any, are recognized in the statements of profit
           laba rugi dan penghasilan komprehensif lain                           or loss and other comprehensive income under
           sesuai dengan kategori biaya yang konsisten                           expense categories that are consistent with the
           dengan fungsi aset yang diturunkan nilainya.                          functions of the impaired assets.

      q.   Biaya dibayar dimuka                                             q.   Prepaid expenses

           Biaya dibayar di muka diamortisasi selama                             Prepaid expenses are amortized over the
           masa manfaat dengan menggunakan metode                                periods benefited using the straight-line
           garis lurus (straight-line method).                                   method.




                                                                 69
Page 466
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                      unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI       YANG           2.     SUMMARY OF SIGNIFICANT ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      r.   Liabilitas segera                                             r.   Liabilities due immediately

           Liabilitas segera dicatat pada saat timbulnya                      This account is recorded at the time the
           kewajiban      atau    diterimanya    perintah                     obligations occur or upon receipt of transfer
           pemindahbukuan dari nasabah maupun dari                            orders from customers or other banks.
           bank lain.

           Liabilitas segera dicatat berdasarkan biaya                        Current liabilities are stated at amortized cost
           perolehan diamortisasi dan diklasifikasikan                        and classified as other financial liabilities.
           sebagai liabilitas keuangan lainnya.

      s.   Simpanan                                                      s.   Deposits

           Giro merupakan simpanan nasabah yang dapat                         Demand deposits represent customer funds
           digunakan sebagai alat pembayaran dan                              which can be used as payment instruments,
           penarikannya dapat dilakukan setiap saat                           and can be withdrawn at any time through
           melalui cek atau pemindahbukuan dengan                             cheque, or transferred through current account
           bilyet giro dan sarana perintah pembayaran                         drafts and other transfer instruction media.
           lainnya. Giro dinyatakan sebesar nilai titipan                     Demand deposits are stated at the amounts
           pemegang giro di Bank.                                             entrusted to the Bank by the depositors.

           Giro Wadiah merupakan titipan dana pihak                           Wadiah demand deposits represent entrusted
           ketiga yang setiap saat tersedia untuk                             third party funds which are available for
           dikembalikan dan dapat diberikan bonus sesuai                      withdrawal at any time and earn bonus based
           kebijakan Bank. Giro Wadiah dinyatakan                             on the Bank’s policy. Wadiah demand deposits
           sebesar nilai titipan pemegang giro di Bank.                       are stated at the amounts invested by the
                                                                              depositors in the Bank.

           Tabungan merupakan simpanan nasabah yang                           Savings deposits represent customer funds
           penarikannya hanya dapat dilakukan nasabah                         which can be withdrawn by the depositors only
           sesuai dengan persyaratan tertentu yang                            under certain conditions. Savings deposits are
           disepakati. Tabungan dinyatakan sebesar nilai                      stated at the agreed amounts due to the
           kewajiban pada pemilik tabungan.                                   depositors.

           Tabungan Wadiah merupakan simpanan pihak                           Wadiah savings deposits represent third party
           lain yang mendapatkan bonus berdasarkan                            funds which earn bonus based on the Bank’s
           kebijaksanaan Bank. Tabungan Wadiah                                policy. Wadiah savings deposits are stated at
           dinyatakan sebesar nilai investasi pemegang                        the amounts invested by the depositors in the
           tabungan di Bank.                                                  Bank.

           Deposito berjangka merupakan simpanan                              Time deposits represent customer funds which
           nasabah yang penarikannya hanya dapat                              can be withdrawn by the depositors only on
           dilakukan nasabah pada waktu tertentu sesuai                       specific maturity dates based on the
           dengan perjanjian antara pemegang deposito                         agreements between the depositors and the
           berjangka dengan Bank. Deposito berjangka                          Bank. Time deposits are stated at the nominal
           dinyatakan sebesar nilai nominal yang                              amounts stated in the certificates issued by the
           tercantum dalam sertifikat yang diterbitkan oleh                   Bank in accordance with the agreements
           Bank, sesuai dengan perjanjian antara                              between the depositors and the Bank.
           pemegang deposito berjangka dengan Bank.




                                                              70
Page 467
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      s.   Simpanan (lanjutan)                                            s.   Deposits (continued)

           Simpanan nasabah diklasifikasikan sebagai                           Deposits from customers are classified as other
           liabilitas keuangan lainnya dan diukur pada                         financial liabilities and measured at amortized
           biaya perolehan amortisasi menggunakan suku                         cost using the effective interest method except
           bunga efektif kecuali simpanan yang                                 for sharia deposits which are stated at the
           didasarkan pada prinsip perbankan syariah                           Bank’s liability to the customers. Incremental
           yang dinyatakan sebesar kewajiban Bank                              costs that can be attributed directly to the
           kepada nasabah. Biaya tambahan yang dapat                           acquisition of deposits from customers are
           diatribusikan    secara   langsung   kepada                         deducted from total deposits received.
           perolehan simpanan nasabah, dikurangkan dari
           jumlah simpanan yang diterima.

      t.   Simpanan dari bank lain                                        t.   Deposits from other banks

           Simpanan dari bank lain merupakan kewajiban                         Deposits from other banks represent liabilities
           kepada bank lain, dalam bentuk tabungan, giro,                      to other banks, in the form of savings deposits,
           deposito berjangka dan inter-bank call money.                       demand deposits, time deposits and inter-bank
                                                                               call money.

           Di dalam simpanan dari bank lain termasuk                           Deposits from other banks include sharia
           simpanan syariah dalam bentuk giro wadiah.                          deposits in the form of wadiah demand
                                                                               deposits.

           Simpanan dari bank lain diklasifikasikan                            Deposits from other banks are classified as
           sebagai liabilitas keuangan lain dan diukur pada                    other financial liabilities and measured at
           biaya perolehan diamortisasi menggunakan                            amortized cost using the effective interest
           suku bunga efektif kecuali simpanan syariah                         method except for sharia deposits which are
           yang dinyatakan sebesar nilai kewajiban Bank                        stated at the Bank’s liability amount to the
           kepada nasabah. Biaya tambahan yang dapat                           customer. Incremental costs that can be
           diatribusikan     secara   langsung      kepada                     attributed directly to the acquisition of deposits
           perolehan simpanan dari bank lain dikurangkan                       from other banks are deducted from the total
           dari jumlah simpanan yang diterima.                                 deposits received.

      u.   Efek-efek yang dibeli dengan janji dijual                      u.   Securities purchased under agreement to
           kembali dan efek-efek yang dijual dengan                            resell and securities sold under agreement
           janji dibeli kembali                                                to repurchase

           Efek-efek yang dibeli dengan janji dijual kembali                   Securities purchased under agreement to resell

           Efek-efek yang dibeli dengan janji untuk dijual                     Securities purchased under agreement to resell
           kembali disajikan sebagai aset keuangan dalam                       are presented as financial assets in the
           laporan posisi keuangan sebesar jumlah                              statement of financial position, at the net resale
           penjualan kembali dikurangi dengan bunga                            price of unamortized interest and net of
           yang belum diamortisasi dan cadangan                                allowance for impairment losses.
           kerugian penurunan nilai.

           Selisih antara harga beli dan harga jual kembali                    The difference between the purchase price and
           diperlakukan sebagai pendapatan bunga yang                          the resale price is treated as unearned interest
           ditangguhkan (belum diamortisasi) dan diakui                        income (unamortized) and recognized as
           sebagai pendapatan selama periode sejak                             income over the period starting from when
           efek-efek tersebut dibeli hingga dijual kembali                     those securities are purchased until they are
           dengan menggunakan suku bunga efektif.                              resold using effective interest rate.




                                                               71
Page 468
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      u.   Efek-efek yang dibeli dengan janji dijual                      u.   Securities purchased under agreement to
           kembali dan efek-efek yang dijual dengan                            resell and securities sold under agreement
           janji dibeli kembali (lanjutan)                                     to repurchase (continued)

           Efek-efek yang dibeli dengan janji untuk dijual                     Securities purchased under agreement are
           kembali diklasifikasikan sebagai diukur pada                        classified as amortized costs.
           biaya perolehan amortisasi.

           Efek-efek yang dijual dengan janji untuk dibeli                     Securities sold under agreements to
           kembali disajikan sebagai liabilitas dalam                          repurchase are presented as liabilities in the
           laporan posisi keuangan sebesar jumlah                              statement of financial position, at the
           pembelian kembali, dikurangi dengan bunga                           repurchase price, net of unamortized prepaid
           dibayar dimuka yang belum diamortisasi.                             interest.

           Selisih antara harga jual dan harga beli kembali                    The difference between the selling price and the
           diperlakukan sebagai biaya dibayar dimuka dan                       repurchase price is treated as prepaid
           diakui sebagai beban selama jangka waktu                            expenses and recognized as expense over the
           sejak efek-efek tersebut dijual hingga dibeli                       period starting from when those securities are
           kembali menggunakan metode suku bunga                               sold until they are repurchased using the
           efektif.                                                            effective interest method.

           Efek-efek yang dijual dengan janji untuk dibeli                     Securities sold under agreement to repurchase
           kembali diklasifikasikan sebagai liabilitas                         are classified as financial liabilities measured at
           keuangan yang diukur dengan biaya perolehan                         amortized cost.
           diamortisasi.

           Efek-efek yang dibeli dengan janji dijual kembali                   Securities purchased under agreement to resell
           atas surat berharga syariah                                         of sharia-compliant securities

           Bank mencatat transaksi efek-efek yang dibeli                       The Bank records securities purchased under
           dengan janji dijual kembali mengacu ke PSAK                         resale agreements in accordance with SFAS
           No. 111 tentang “Akuntansi Wa’d” yang berlaku                       No. 111 on “Accounting for Wa’d” which is
           secara prospektif. Pada saat pengakuan awal,                        implemented      prospectively.     At   initial
           Bank mengklasifikasikan surat berharga                              recognition, the Bank classifies the underlying
           syariah yang diperoleh dari transaksi jual beli                     securities from the first sale and purchase
           pertama dalam kategori diukur pada nilai wajar                      transaction as at fair value through other
           melalui penghasilan komprehensif lain.                              comprehensive income. Gain or losses arising
           Keuntungan atau kerugian dari perubahan nilai                       from changes in its fair value is recorded as
           wajar diakui dalam penghasilan komprehensif                         other comprehensive income.
           lain.

      v.   Surat-surat berharga yang diterbitkan                          v.   Securities issued

           Surat-surat berharga yang diterbitkan Bank                          Securities issued by Bank consist of bonds,
           adalah obligasi, Long Term Note (LTN) dan                           Long Term Note (LTN) and Sukuk Mudharabah.
           Sukuk Mudharabah.

           Surat berharga yang diterbitkan diakui sebesar                      The securities issued are recognized initially at
           nilai wajar pada awalnya dan selanjutnya diukur                     fair value and subsequently measured at
           sebesar biaya perolehan diamortisasi dengan                         amortized cost using the effective interest rate
           menggunakan metode suku bunga efektif (EIR).                        method (EIR).

           Biaya perolehan diamortisasi dihitung dengan                        Amortized cost is calculated by taking into
           memperhitungkan adanya diskonto atau premi                          account any discount or premium associated
           terkait dengan pengakuan awal dan biaya                             related to the initial recognition and transaction
           transaksi yang tidak terpisah dari suku bunga                       costs that are an integral part of the effective
           efektif.                                                            interest rate.



                                                               72
Page 469
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      w. Pinjaman yang diterima                                         w. Fund borrowings

           Pinjaman yang diterima merupakan dana yang                        Fund borrowings are funds received by the
           diterima oleh Bank dari Bank Indonesia,                           Bank from Bank Indonesia, the government
           pemerintah dan lembaga pembiayaan lain                            and other financing institutions with payment
           dengan kewajiban pembayaran berdasarkan                           obligation based on borrowing agreements.
           perjanjian pinjaman.

           Pinjaman yang diterima diakui sebesar nilai                       Fund borrowings are recognized initially at fair
           wajar pada awalnya dan selanjutnya diukur                         value and subsequently measured at amortized
           sebesar biaya perolehan diamortisasi dengan                       cost using the effective interest rate method
           menggunakan metode suku bunga efektif (EIR).                      (EIR). Amortized cost is calculated by taking
           Biaya perolehan diamortisasi dihitung dengan                      into account any discount or premium
           memperhitungkan adanya diskonto atau premi                        associated related to the initial recognition and
           terkait dengan pengakuan awal dan biaya                           transaction costs that are an integral part of the
           transaksi yang tidak terpisah dari suku bunga                     effective interest rate.
           efektif.

      x.   Pinjaman subordinasi                                         x.   Subordinated loans

           Pinjaman subordinasi diakui sebesar nilai wajar                   Subordinated loans are recognized initially at
           pada awalnya dan selanjutnya diukur sebesar                       fair value and subsequently measured at
           biaya    perolehan     diamortisasi    dengan                     amortized cost using the effective interest rate
           menggunakan metode suku bunga efektif.                            method. Amortized cost is calculated by taking
           Biaya perolehan diamortisasi dihitung dengan                      into account any discount or premium
           memperhitungkan adanya diskonto atau premi                        associated related to the initial recognition and
           terkait dengan pengakuan awal dan biaya                           transaction costs that are an integral part of the
           transaksi yang tidak terpisah dari suku bunga                     effective interest rate.
           efektif.

      y.   Modal saham                                                  y.   Capital stock

           Modal saham diukur pada nilai nominal untuk                       Capital stock is measured at par value for all
           semua saham yang diterbitkan.                                     shares issued.

      z.   Saldo laba                                                   z.   Retained earnings

           Saldo laba merupakan saldo kumulatif dari hasil                   Retained earnings represent the cumulative
           operasi Bank, pembagian dividen, penyesuaian                      balance of the Bank’s results of operations,
           periode sebelumnya, efek dari perubahan                           dividend distributions, prior period adjustments,
           kebijakan akuntansi dan penyesuaian modal                         effects of the changes in accounting policy and
           lainnya.                                                          other capital adjustments.

      aa. Dana syirkah temporer                                         aa. Temporary syirkah funds

           Dana syirkah temporer merupakan investasi                         Temporary syirkah funds represent investments
           dengan akad mudharabah mutlaqah, yaitu                            from other parties conducted on the basis
           pemilik dana (shahibul maal) memberikan                           mudharabah mutlaqah contract in which the
           kebebasan      kepada     pengelola    dana                       owners of the funds (shahibul maal) grant
           (mudharib/BTN     Unit    Syariah)    dalam                       freedom to the fund manager (mudharib/BTN
           pengelolaan investasinya dengan keuntungan                        Sharia Unit) in the management of their
           dibagikan sesuai kesepakatan. Dana syirkah                        investments with profit distributed based on the
           temporer terdiri dari giro mudharabah,                            contract. Temporary syirkah funds consist of
           tabungan    mudharabah,     dan     deposito                      mudharabah current accounts, mudharabah
           mudharabah.                                                       saving deposits, and mudharabah time
                                                                             deposits.



                                                             73
Page 470
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN          AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      aa. Dana syirkah temporer (lanjutan)                              aa. Temporary syirkah funds (continued)

          Giro dan tabungan mudharabah merupakan                             Mudharabah current accounts and saving
          investasi yang bisa ditarik kapan saja (on call)                   deposits represent investment which could be
          atau sesuai dengan persyaratan tertentu yang                       withdrawn anytime (on call) or can be withdrawn
          disepakati. Giro dan tabungan mudharabah                           based on certain agreed terms. Mudharabah
          dinyatakan sebesar saldo giro dan tabungan                         current accounts and savings deposits are
          nasabah di Bank.                                                   stated based on the customer’s demand and
                                                                             savings deposit balance in Bank.

          Deposito mudharabah merupakan investasi                            Mudharabah      time    deposits   represent
          yang hanya bisa ditarik pada waktu tertentu                        investment that can only be withdrawn at a
          sesuai dengan perjanjian antara pemegang                           certain time based on the agreement between
          deposito mudharabah dengan Bank. Deposito                          the customer and the Bank. Mudharabah time
          mudharabah dinyatakan sebesar nilai nominal                        deposits are stated at nominal amount as
          sesuai dengan perjanjian antara pemegang                           agreed between the deposit holder and the
          deposito dengan Bank.                                              Bank.

          Dana syirkah temporer tidak dapat digolongkan                      Temporary syirkah fund cannot be classified as
          sebagai kewajiban. Hal ini karena BTN Unit                         liability. This was due to the BTN Sharia Unit
          Syariah      tidak     berkewajiban      untuk                     does not have any liability to return the initial
          mengembalikan jumlah dana awal dari pemilik                        fund to the owners, except for losses due to
          dana kecuali akibat kelalaian atau wanprestasi                     BTN Sharia Unit’s management negligence or
          ketika mengalami kerugian. Di sisi lain dana                       default of loss is incurred. On the other hand,
          syirkah temporer tidak dapat digolongkan                           temporary syirkah fund cannot be classified as
          sebagai ekuitas karena mempunyai waktu jatuh                       shareholders’ equity, because of the maturity
          tempo dan pemilik dana tidak mempunyai hak                         period and the depositors do not have the same
          kepemilikan yang sama dengan pemegang                              rights as the shareholders’ such as voting rights
          saham seperti hak voting dan hak atas realisasi                    and the rights of realized gain from current
          keuntungan yang berasal dari aset lancar dan                       assets and other non-investment accounts.
          aset non-investasi (current and other non-
          investment accounts).

          Pemilik dana syirkah temporer mendapatkan                          The owner of temporary syirkah funds receives
          imbalan bagi hasil sesuai dengan nisbah yang                       a return from the profit sharing based on a
          ditetapkan.                                                        predetermined ratio.

          Hak nasabah atas bagi hasil dana syirkah                           Third parties’ share on returns of temporary
          temporer merupakan bagian bagi hasil milik                         syirkah funds represents customer’s share on
          nasabah yang didasarkan pada prinsip                               the Bank’s income derived from the
          mudharabah atas hasil pengelolaan dana                             management of their funds by the Bank under
          mereka oleh Bank. Pendapatan yang dibagikan                        mudharabah principles. Income that will be
          adalah yang telah diterima (cash basis).                           distributed is the cash received (cash basis)
                                                                             from the share.

          Pembagian hasil usaha dilakukan berdasarkan                        The distribution of revenue is based on profit
          prinsip bagi hasil usaha yaitu dari pendapatan                     sharing scheme on the Bank’s gross profit
          Bank yang diterima berupa laba kotor (gross                        margin.
          profit margin).




                                                             74
Page 471
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN          AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      aa. Dana syirkah temporer (lanjutan)                              aa. Temporary syirkah funds (continued)

          Pendapatan marjin dan bagi hasil atas                              Margin income and profit sharing on financing
          pembiayaan yang diberikan dan atas aset                            facilities and other earning assets are
          produktif lainnya akan dibagikan kepada                            distributed to fund owners and the Bank based
          nasabah penyimpan dana dan Bank sesuai                             on proportion of fund used in the financing and
          dengan proporsi dana yang dipakai dalam                            other earning assets. Margin income and profit
          pembiayaan yang diberikan dan aset produktif                       sharing income allocated to the fund owners are
          lainnya. Selanjutnya, pendapatan marjin dan                        then distributed to fund owners and depositors
          bagi hasil yang tersedia untuk nasabah                             as shahibul maal and the Bank as mudharib
          tersebut kemudian dibagihasilkan ke nasabah                        based on a predetermined ratio (nisbah).
          penabung dan deposan sebagai shahibul maal                         Margin income and profit sharing from financing
          dan Bank sebagai mudharib sesuai porsi bagi                        facilities and other earning assets using the
          hasil yang telah disepakati         bersama                        Bank's funds, are entirely shared for the Bank,
          sebelumnya (nisbah). Pendapatan marjin dan                         including income from the Bank's fee-based
          bagi hasil dari pembiayaan dan aset produktif                      transactions.
          lainnya yang memakai dana Bank, seluruhnya
          menjadi milik Bank, termasuk pendapatan dari
          investasi Bank berbasis imbalan.

      ab. Pendapatan dan beban bunga                                    ab. Interest income and expense

          Pendapatan dan beban bunga diakui pada                             Interest income and expenses are recognized
          laporan     laba   rugi     dan    penghasilan                     in the statement of profit or loss and other
          komprehensif lain dengan menggunakan                               comprehensive income using the effective
          metode suku bunga efektif. Suku bunga efektif                      interest rate method. The effective interest rate
          adalah suku bunga yang secara tepat                                is the rate that exactly discounts the estimated
          mendiskontokan estimasi pembayaran atau                            future cash payments or receipts over the
          penerimaan kas di masa datang selama                               expected life of the financial instrument (or,
          perkiraan umur dari aset keuangan atau                             where appropriate, a shorter period) to obtain
          liabilitas keuangan (atau, jika lebih tepat,                       the carrying amount of the financial asset or
          digunakan periode yang lebih singkat) untuk                        financial liability.
          memperoleh nilai tercatat bersih dari aset
          keuangan atau liabilitas keuangan.

          Pada saat menghitung suku bunga efektif, Bank                      When calculating the effective interest rate, the
          mengestimasi arus kas di masa datang dengan                        Bank estimates future cash flows considering
          mempertimbangkan         seluruh     persyaratan                   all contractual terms of the financial instrument
          kontraktual dalam instrumen keuangan                               but not future credit losses. This calculation
          tersebut, tetapi tidak mempertimbangkan                            includes all commissions, fees, and other forms
          kerugian kredit       di masa mendatang.                           received by the parties in the contract that are
          Perhitungan ini mencakup seluruh komisi,                           an integral part of the effective interest rate.
          provisi, dan bentuk lain yang diterima oleh para
          pihak dalam kontrak yang merupakan bagian
          tidak terpisahkan dari suku bunga efektif.

          Jika aset keuangan atau nilai kelompok aset                        If a financial asset or group of similar financial
          keuangan serupa telah diturunkan sebagai                            assets’ value has diminished as a result of
          akibat kerugian penurunan nilai, maka                               impairment       losses,    interest      income
          pendapatan bunga yang diperoleh setelahnya                          subsequently obtained is recognized based on
          diakui berdasarkan suku bunga yang digunakan                        the interest rate used to discount future cash
          untuk mendiskonto arus kas masa datang                              flows in calculating impairment losses.
          dalam menghitung kerugian penurunan nilai.




                                                             75
Page 472
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      ac. Pendapatan provisi dan komisi                                  ac. Fees and commissions

          Pendapatan provisi dan komisi yang berkaitan                        Fees and commissions directly related to
          langsung dengan kegiatan pinjaman, atau                             lending activities, or fee and commission
          pendapatan       provisi dan komisi yang                            income which relates to a specific period, is
          berhubungan dengan jangka waktu tertentu,                           amortized over the term of the contract using
          diamortisasi sesuai dengan jangka waktu                             the effective interest method and classified as
          kontrak menggunakan metode suku bunga                               part of interest income in the statement of profit
          efektif dan diklasifikasikan sebagai bagian dari                    or loss and other comprehensive income.
          pendapatan bunga pada laporan laba rugi dan
          penghasilan komprehensif lain.

          Pendapatan provisi dan komisi yang tidak                            Fees and commissions that are not related to
          berkaitan dengan kegiatan pemberian kredit                          the credit activity or a period of time and/or
          atau suatu jangka waktu dan/atau terkait                            associated with the service provided, are
          dengan pemberian suatu jasa, diakui sebagai                         recognized as revenue at the time of the
          pendapatan pada saat terjadinya transaksi dan                       transaction and recorded under other operating
          dicatat pada akun pendapatan operasional                            income.
          lainnya.

      ad. Pendapatan bagi hasil dan beban bonus                          ad. Sharia profit sharing income and bonus
          secara syariah                                                     expense

          Pendapatan bagi hasil secara syariah                                Sharia profit sharing income represents income
          merupakan pendapatan istishna, marjin                               from istishna, margin from murabahah and
          murabahah dan bagi hasil pembiayaan                                 profit-sharing on mudharabah and musyarakah
          mudharabah dan musyarakah serta aset                                financing and other earning assets which are
          produktif lainnya yang diakui dengan                                recognized on the accrual basis. Sharia
          menggunakan metode akrual. Beban secara                             expense represents the bonus distribution and
          syariah merupakan distribusi bonus dan bagi                         profit-sharing to fund owners which are
          hasil kepada pemilik dana yang diakui                               recognized on an accrual basis.
          berdasarkan metode akrual.

          Pendapatan istishna diakui apabila telah terjadi                    Income from istishna is recognized at the date
          penyerahan barang.                                                  of transfer of assets.

          Pendapatan       atas     piutang    murabahah                      Income from murabahah receivables using the
          menggunakan metode setara tingkat imbal hasil                       effective rate of return method (effective
          efektif (marjin efektif). Marjin efektif adalah                     margin). Effective margin is the margin that
          margin yang secara tepat mendiskontokan                             precisely discounts the estimated future cash
          estimasi pembayaran atau penerimaan kas di                          payments or receipts through the expected life
          masa datang selama perkiraan umur dari                              of the murabahah receivables. When
          piutang murabahah. Pada saat menghitung                             calculating the effective margin, Bank estimates
          marjin efektif, Bank mengestimasi arus kas di                       the future cash flows considering all contractual
          masa datang dengan mempertimbangkan                                 terms of the financial instrument, but does not
          seluruh    persyaratan      kontraktual    dalam                    consider the loss of receivables in the future.
          instrumen keuangan tersebut, tetapi tidak                           This calculation includes all commissions,
          mempertimbangkan kerugian piutang di masa                           provision fees and other forms accepted by the
          mendatang. Perhitungan ini mencakup seluruh                         parties in the contract that are an inseparable
          komisi, provisi dan bentuk lain yang diterima                       part of the effective margin, transaction costs
          oleh para pihak dalam kontrak yang merupakan                        and all other premiums or discounts.
          bagian tak terpisahkan dari marjin efektif, biaya
          transaksi, dan seluruh premi atau diskon
          lainnya.




                                                              76
Page 473
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


2.    IKHTISAR KEBIJAKAN          AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                            POLICIES (continued)

      ad. Pendapatan bagi hasil dan beban bonus                        ad. Sharia profit sharing income and bonus
          secara Syariah (lanjutan)                                        expense (continued)

          Pendapatan       bagi    hasil     pembiayaan                     Mudharabah and musyarakah income are
          mudharabah dan musyarakah diakui pada saat                        recognized when cash is received or in a period
          diterima atau dalam periode terjadinya hak bagi                   where the right of revenue sharing is due based
          hasil sesuai porsi bagi hasil (nisbah) yang                       on agreed portion (nisbah).
          disepakati.

      ae. Imbalan kerja                                                ae. Employee benefits

          Imbalan kerja jangka pendek                                       Short-term employee benefits

          Imbalan kerja jangka pendek seperti upah,                         Short-term employee benefits such as wages,
          iuran jaminan sosial, cuti jangka pendek, bonus                   social security contributions, short-term
          dan imbalan non-moneter lainnya diakui selama                     compensated leaves, bonuses and other non-
          periode jasa diberikan. Imbalan kerja jangka                      monetary benefits are recognized during the
          pendek dihitung sebesar jumlah yang tidak                         period when services have been rendered.
          didiskontokan.                                                    Short-term employee benefits are measured
                                                                            using undiscounted amounts.

          Program pensiun iuran pasti                                       Defined contribution plan

          Iuran kepada dana pensiun sebesar persentase                      Contribution payable to a pension fund
          tertentu gaji pegawai yang menjadi peserta                        equivalent to a certain percentage of salaries
          program     pensiun     iuran    pasti Bank,                      for qualified employees under the Bank’s
          dicadangkan dan diakui sebagai biaya ketika                       defined contribution plan is accrued and
          jasa telah diberikan oleh pegawai-pegawai                         recognized as expense when services have
          tersebut. Pembayaran dikurangkan dari utang                       been rendered by qualified employees. Actual
          iuran. Iuran terutang dihitung berdasarkan                        payments are deducted from the contribution
          jumlah yang tidak didiskontokan.                                  payable. Contribution payable is measured
                                                                            using undiscounted amounts.

          Program imbalan pasti dan imbalan kerja                           Defined benefit plan and other long-term
          jangka panjang lainnya                                            employee benefits

          Imbalan pasca-kerja dicadangkan dan diakui                        The post-employment benefits are accrued and
          sebagai biaya ketika jasa telah diberikan oleh                    recognized as expense when services have
          pegawai yang menjadi peserta program                              been rendered by qualified employees. The
          pensiun Bank. Imbalan kerja ditentukan                            benefits are determined based on the Bank’s
          berdasarkan peraturan Bank dan Undang-                            regulations and Job Creation No. 11 year 2020
          undang Cipta Kerja No. 11 tahun 2020 tanggal                      dated November 2, 2020 (“the Law”).
          2 November 2020 (“Undang-undang”).




                                                            77
Page 474
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      ae. Imbalan kerja (lanjutan)                                       ae. Employee benefits (continued)

          Program imbalan pasti dan imbalan kerja                             Defined benefit plan and other long-term
          jangka panjang lainnya (lanjutan)                                   employee benefits (continued)

          Imbalan pasca-kerja dan imbalan kerja jangka                        The post-employment benefits and other long-
          panjang lainnya secara aktuaris ditentukan                          term employee benefits are actuarially
          berdasarkan metode Projected Unit Credit.                           determined using the Projected Unit Credit
                                                                              Method.
          Pengukuran kembali atas liabilitas (aset)                           Remeasurement of defined benefit liabilities
          imbalan pasti neto, yang diakui sebagai                             (assets) net, which is recognized as other
          penghasilan komprehensif lain, terdiri atas:                        comprehensive income consist of:
          (i) Keuntungan dan kerugian aktuarial.                              (i) Actuarial gain and losses.
          (ii) Imbal hasil atas aset program, tidak                           (ii) Return on plan assets, excluding amounts
                termasuk jumlah yang dimasukkan dalam                               that is included in net interest on liabilities
                bunga neto atas liabilitas (aset).                                  (assets).
          (iii) Setiap perubahan dampak batas aset,                           (iii) The effect of the asset ceiling, excluding
                tidak termasuk jumlah yang dimasukkan                               amounts included in the net interest of
                dalam bunga neto atas liabilitas (aset).                            liabilities (assets).

          Pengukuran kembali atas liabilitas (aset)                           Remeasurement of defined benefit liabilities
          imbalan pasti neto, yang diakui sebagai                             (assets) - net, which is recognized as other
          penghasilan      komprehensif  lain tidak                           comprehensive income is not reclassified to
          direklasifikasi ke laba rugi pada periode                           profit or loss in the subsequent periods.
          berikutnya.

          Untuk imbalan kerja jangka panjang lain atas                        For other long-term employee benefits which
          biaya jasa kini, biaya bunga neto atas liabilitas                   are current service cost, net interest expense
          (aset) imbalan pasti neto, dan pengukuran                           of net defined benefit assets liabilities (assets),
          kembali liabilitas (aset) imbalan pasti neto                        and re-measurement of liability (asset) is
          langsung diakui pada laporan laba rugi dan                          recognized immediately in the current year
          penghasilan komprehensif lain tahun berjalan.                       statement of profit or loss and other
                                                                              comprehensive income.

          Biaya jasa lalu diakui sebagai beban pada                           Past service costs are recognized as expense
          tanggal yang lebih awal antara ketika                               at the earlier date between the amendments or
          amandemen atau kurtailmen program terjadi,                          curtailment program occurs, and when the
          dan ketika biaya restrukturisasi atau pesangon                      costs of restructuring or severance is
          diakui, sehingga biaya jasa lalu yang belum                         recognized, therefore, unvested past service
          vested tidak lagi dapat ditangguhkan dan diakui                     cost can no longer be deferred and recognized
          selama periode vesting masa depan.                                  over the future vesting period.




                                                              78
Page 475
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


2.    IKHTISAR KEBIJAKAN             AKUNTANSI    YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                            POLICIES (continued)

      af. Transaksi dan saldo dalam mata uang asing                    af. Foreign currency transactions and balances

          Transaksi dalam mata uang asing dicatat                           Transactions involving foreign currencies are
          berdasarkan kurs yang berlaku pada saat                           recorded at the rates of exchange prevailing at
          transaksi dilakukan. Pada tanggal laporan                         the time the transactions are made. At
          posisi keuangan, aset dan liabilitas moneter                      statement of financial position dates, monetary
          dalam mata uang asing dijabarkan ke dalam                         assets and liabilities denominated in foreign
          mata uang Rupiah berdasarkan kurs spot                            currencies are translated into Rupiah based on
          Reuters pada tanggal tersebut pukul 15.00                         Reuters’ spot rates at 15.00 WIB (West
          WIB. Laba atau rugi kurs yang terjadi diakui di                   Indonesian local time) on that date. The
          dalam laporan laba rugi dan penghasilan                           resulting gains or losses are recognized in the
          komprehensif lain tahun berjalan.                                 statement of profit or loss and other
                                                                            comprehensive income for the current year.

          Pada tanggal-tanggal 31 Desember 2023 dan                         As of December 31, 2023 and 2022, the
          2022, kurs yang digunakan untuk menjabarkan                       exchange rates used in translating the foreign
          mata uang asing ke dalam Rupiah adalah                            currencies into Rupiah are as follows (full
          sebagai berikut (Rupiah penuh):                                   Rupiah):

                                            31 Desember/           31 Desember/
                                           December 31, 2023     December 31, 2022
          1 Dolar Amerika Serikat                   15.397,00               15.567,50                       1 United States Dollar
          1 Dolar Australia                         10.520,77               10.557,88                           1 Australian Dollar
          1 Pound Sterling Inggris                  19.626,56               18.786,09               1 Great Britain Pound Sterling
          1 Euro Eropa                              17.038,32               16.581,72                             1 European Euro
          1 Yen Jepang                                 108,88                  117,81                              1 Japanese Yen
          1 Ringgit Malaysia                         3.355,20                3.533,66                         1 Malaysian Ringgit
          1 Dolar Hong Kong                          1.970,73                1.996,55                         1 Hong Kong Dollar
          1 Riyal Arab Saudi                         4.106,00                4.139,00                       1 Saudi Arabian Riyal
          1 Renminbi                                 2.170,06                2.238,91                                  1 Renminbi
          1 Dolar Singapura                         11.676,34               11.592,88                           1 Singapore Dollar

      ag. Pajak penghasilan                                            ag. Income tax

          Beban pajak tahun berjalan ditetapkan                             Current tax expense is provided based on the
          berdasarkan taksiran penghasilan kena pajak                       estimated taxable income for the current year.
          tahun berjalan. Aset dan liabilitas pajak                         Deferred tax assets and liabilities are
          tangguhan diakui atas perbedaan temporer                          recognized for temporary differences between
          aset dan liabilitas antara pelaporan komersial                    the financial and the tax bases of assets and
          dan pajak pada setiap tanggal pelaporan.                          liabilities at each reporting date.

          Aset pajak tangguhan diakui untuk seluruh                         Deferred tax assets are recognized for all
          perbedaan temporer yang boleh dikurangkan                         deductible temporary differences and carry
          dan    saldo  rugi   fiskal    yang   belum                       forward of uncompensated tax losses to the
          dikompensasikan,    sepanjang     perbedaan                       extent that it is probable for temporary
          temporer dan rugi fiskal yang belum                               differences    and      carry    forward of
          dikompensasikan tersebut dapat dimanfaatkan                       uncompensated tax losses to be utilized in
          untuk mengurangi laba fiskal pada masa yang                       deducting future taxable profit.
          akan datang.




                                                            79
Page 476
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      ag. Pajak penghasilan (lanjutan)                                  ag. Income tax (continued)

          Jumlah tercatat aset pajak tangguhan ditelaah                      The carrying amount of deferred tax assets is
          pada setiap tanggal posisi keuangan dan nilai                      reviewed at each reporting date and reduced to
          tercatat aset pajak tangguhan tersebut                             the extent that it is no longer probable that
          diturunkan apabila tidak lagi terdapat                             sufficient taxable profits will be available to
          kemungkinan besar bahwa laba fiskal yang                           allow all or part of the benefit of the deferred tax
          memadai        akan       tersedia      untuk                      assets to be utilized.
          mengkompensasi sebagian atau semua
          manfaat aset pajak tangguhan.

          Aset dan kewajiban pajak tangguhan diukur                          Deferred tax assets and liabilities are measured
          berdasarkan tarif pajak yang akan berlaku pada                     at the tax rates that are expected to apply to the
          tahun saat aset direalisasikan atau liabilitas                     year when the asset is realized or the liability is
          diselesaikan       berdasarkan       peraturan                     settled based on tax laws that have been
          perpajakan yang berlaku atau yang secara                           enacted or substantively enacted as at
          substantif telah diberlakukan pada tanggal                         statement financial position date.
          laporan posisi keuangan.

          Pengaruh pajak terkait dengan penyisihan                           The related tax effects of the provisions for
          untuk dan/atau pembalikan seluruh perbedaan                        and/or reversals of all temporary differences
          temporer selama tahun berjalan, termasuk                           during the year, including the effect of change
          pengaruh perubahan tarif pajak, diakui sebagai                     in tax rates, are recognized as “Income Tax
          “Beban Pajak Penghasilan - Tangguhan” dan                          Expense - Deferred” and included in the
          termasuk dalam laba atau rugi neto tahun                           determination of net profit or loss for the year,
          berjalan, kecuali untuk transaksi-transaksi yang                   except to the extent that they relate to items
          sebelumnya telah langsung dibebankan atau                          previously charged or credited to equity.
          dikreditkan ke ekuitas.
          Perubahan terhadap liabilitas pajak diakui pada                    Amendment to tax obligation is recorded when
          saat surat ketetapan pajak diterima, atau                          an assessment letter is received or, if objected
          apabila diajukan keberatan dan atau banding                        to or appealed against by the Bank, when the
          oleh Bank, pada saat telah ada keputusan atas                      result of such appeal or objection is determined.
          banding dan atau keberatan tersebut.
          Dalam menentukan jumlah pajak kini dan                             In determining the amount of current and
          tangguhan, Bank memperhitungkan dampak                             deferred tax, the Bank takes into account the
          atas posisi pajak yang tidak pasti dan tambahan                    impact of uncertain tax positions and any
          pajak serta penalti. Hal ini termasuk juga                         additional taxes and penalties. This includes
          melakukan evaluasi terhadap surat ketetapan                        evaluation on tax assessment letters received
          pajak yang diterima dari kantor pajak.                             from tax authorities.

          Aset dan liabilitas atas pajak tangguhan dan                       Assets and liabilities on deferred tax and
          pajak kini dapat saling hapus apabila terdapat                     current tax can be offset if there is a legal
          hak yang berkekuatan hukum untuk melakukan                         enforceable right to offset.
          saling hapus.




                                                             80
Page 477
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                     unless otherwise stated)


2.    IKHTISAR KEBIJAKAN         AKUNTANSI     YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                         POLICIES (continued)

      ah. Pelaporan segmen                                          ah. Segment reporting

          Informasi  segmen     diungkapkan   untuk                      Segment information is disclosed to enable
          memungkinkan pengguna laporan keuangan                         users of financial statements to evaluate the
          untuk mengevaluasi sifat dan dampak                            nature and financial effects of the business
          keuangan dari aktivitas bisnis yang mana                       activities in which the Bank is involved in and
          Bank terlibat dalam lingkungan ekonomi                         the economic environment where the Bank
          dimana Bank beroperasi.                                        operates.

          Segmen operasi adalah suatu komponen dari                      An operating segment is a component of an
          entitas:                                                       entity:

          a) Yang terlibat dalam aktivitas bisnis yang                   a) That engages in business activities from
             mana memperoleh pendapatan dan                                 which it may earn revenues and incur
             menimbulkan         beban       (termasuk                      expenses    (including     revenues     and
             pendapatan dan beban terkait dengan                            expenses relating to transactions with other
             transaksi dengan komponen lain dari                            components of the same entity);
             entitas yang sama);

          b) Hasil operasinya dikaji ulang secara                        b) Whose operating results are reviewed
             reguler    oleh pengambil   keputusan                          regularly by the entity’s chief operating
             operasional untuk membuat keputusan                            decision maker to make decisions about
             tentang sumber daya yang dialokasikan                          resources to be allocated to the segment
             pada segmen tersebut dan menilai                               and assess its performance; and
             kinerjanya; dan

          c) Tersedia informasi keuangan yang dapat                      c) For which discrete financial information is
             dipisahkan.                                                    available.

             Bank       telah   mengidentifikasi   dan                       The Bank identifies and discloses financial
             mengungkapkan       informasi    keuangan                       information based on the business activities
             berdasarkan kegiatan bisnis dimana Bank                         in which the Bank engages (business
             terlibat    (segmen    usaha).    Segmen                        segments)     in.   Segment     revenues,
             pendapatan, biaya, hasil, aset dan                              expenses, income, assets and liabilities
             liabilitas, termasuk bagian yang dapat                          include ítems directly attributable to a
             diatribusikan langsung kepada segmen,                           segment as well as those that can be
             serta yang dapat dialokasikan dengan                            allocated on a reasonable basis to that
             dasar yang memadai untuk segmen                                 segment.
             tersebut.

      ai. Laba per saham dasar                                      ai. Basic earnings per share

          Laba per saham dasar dihitung dengan                           Basic earnings per share is computed by
          membagi laba tahun berjalan dengan jumlah                      dividing income for the year by the weighted
          rata-rata tertimbang saham yang ditempatkan                    average number of issued and fully paid shares
          dan disetor penuh pada tahun yang                              during the related year.
          bersangkutan.




                                                         81
Page 478
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                              POLICIES (continued)

      aj. Biaya emisi penerbitan saham                                    aj. Shares issuance costs

          Biaya-biaya emisi efek yang terjadi sehubungan                       Costs related to the public offering of shares
          dengan penawaran saham kepada masyarakat                             (including pre-emptive rights issue) are
          (termasuk penerbitan hak memesan efek                                deducted from the proceeds and presented as
          terlebih dahulu) dikurangkan langsung dari hasil                     a deduction from the “Additional Paid-in-Capital
          emisi dan disajikan sebagai pengurang pada                           - Net” account, under Equity section in the
          akun “Tambahan Modal Disetor - Neto”,                                statement of financial position.
          sebagai bagian dari Ekuitas pada laporan posisi
          keuangan.
      ak. Opsi Saham                                                      ak. Stock Options
          Bank telah memberikan opsi saham kepada                               The Bank has granted stock options to the
          Direksi dan pekerja pada posisi dan jabatan                           Board of Directors and employees of certain
          tertentu berdasarkan persyaratan yang telah                           positions and levels based on established
          ditetapkan. Biaya kompensasi saham pada                               criteria. Cost of stock compensation at the
          penerbitan dihitung dengan menggunakan nilai                          issuance date is calculated using the fair value
          wajar dari opsi saham tersebut dan diakui                             of the stock options and is recognized as part
          dalam akun “Beban Tenaga Kerja dan                                    of "Salaries and Employee Benefits Expense"
          Tunjangan” menggunakan metode garis lurus                             using the straight-line method over the vesting
          selama masa tunggu (vesting period).                                  period. The accumulation of the stock
          Akumulasi dari biaya kompensasi saham diakui                          compensation cost is recognized as "Stock
          sebagai “Opsi Saham” dalam bagian ekuitas.                            Options" in the equity. The fair value of the
          Penentuan nilai wajar dari opsi saham yang                            stock options granted are calculated using the
          diberikan dihitung dengan menggunakan model                           Binomial-tree option pricing model.
          penentuan harga opsi Binomial-tree (Binomial-
          tree option pricing model).

      al. Provisi                                                        al.    Provisions

          Provisi diakui jika Bank memiliki kewajiban kini                      Provisions are recognized when the Bank has
          (baik bersifat hukum maupun bersifat                                  a present obligation (legal or constructive)
          konstruktif) yang akibat peristiwa masa lalu,                         where, as a result of a past event, it is probable
          besar       kemungkinannya         penyelesaian                       that an outflow of resources embodying
          kewajiban tersebut mengakibatkan arus keluar                          economic benefits will be required to settle the
          sumber daya yang mengandung manfaat                                   obligation and a reliable estimate can be made
          ekonomi dan estimasi yang andal mengenai                              of the amount of the obligation.
          jumlah kewajiban tersebut dapat dibuat.

          Provisi ditelaah pada setiap tanggal pelaporan                        Provisions are reviewed at each reporting date
          dan disesuaikan untuk mencerminkan estimasi                           and adjusted to reflect the current best
          terbaik yang paling kini. Jika arus keluar sumber                     estimate. If it is no longer probable that an
          daya     untuk     menyelesaikan        kewajiban                     outflow of resources embodying economic
          kemungkinan besar tidak terjadi, maka provisi                         benefits will be required to settle the obligation,
          dibatalkan.                                                           the provision is reversed.




                                                              82
Page 479
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


2.    IKHTISAR KEBIJAKAN           AKUNTANSI       YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                             POLICIES (continued)

      am. Agunan yang diambil alih                                      am. Foreclosed collaterals

          Agunan yang diambil alih disajikan dalam akun                      Foreclosed collaterals are included in the
          “Aset Lain-lain”                                                   “Other Assets” account.

          Agunan yang diambil alih (AYDA) adalah aset                        Foreclosed collaterals represent assets
          yang diperoleh Bank baik melalui pelelangan                        acquired by the Bank both from auction and non
          maupun diluar pelelangan berdasarkan                               auction based on voluntary transfer by the
          penyerahan secara sukarela oleh pemilik                            debtor or based on debtor’s approval to sell the
          agunan atau berdasarkan kuasa untuk menjual                        collateral where the debtor could not fulfill their
          diluar lelang dari pemilik agunan dalam hal                        obligations to the Bank. Foreclosed collaterals
          debitur tidak memenuhi liabilitasnya kepada                        represent loan collateral that were taken over
          Bank. AYDA merupakan jaminan kredit yang                           as part of loans settlement and presented in
          diberikan yang telah diambil alih sebagai bagian                   “Other Assets”.
          dari penyelesaian kredit yang diberikan dan
          disajikan pada “Aset Lain-lain”

          Agunan yang diambil alih diakui sebesar nilai                      Foreclosed collaterals are stated at net
          neto yang dapat direalisasi atau sebesar nilai                     realizable value or stated at loan outstanding
          outstanding kredit yang diberikan, mana yang                       amount, whichever is lower. Net realizable
          lebih rendah. Nilai neto yang dapat direalisasi                    value is the fair value of the foreclosed
          adalah nilai wajar agunan yang diambil alih                        collaterals less the estimated costs to sell the
          dikurangi dengan estimasi biaya untuk menjual                      assets. The excess of loan receivable over the
          agunan tersebut. Selisih lebih saldo kredit di                     net realizable value of the foreclosed collateral
          atas nilai neto yang dapat direalisasi dari                        is charged to allowance for impairment losses.
          agunan yang diambil alih dibebankan ke dalam                       The difference between the recorded amount of
          akun cadangan kerugian penurunan nilai aset.                       the foreclosed collateral and the proceeds from
          Selisih antara nilai agunan yang diambil alih                      the sale of such collateral is recorded as a gain
          dengan hasil penjualan diakui sebagai                              or loss at the time of sale.
          keuntungan atau kerugian pada saat penjualan.

          Beban-beban    yang     berkaitan    dengan                        Maintenance and repair costs related to
          pemeliharaan agunan yang diambil alih                              foreclosed collaterals are charged as an
          dibebankan dalam laporan laba rugi pada saat                       expense in profit or loss when incurred.
          terjadinya.

          Bila terjadi penurunan nilai yang bersifat                         If there is permanent decline in value, the
          permanen, maka nilai tercatatnya dikurangi                         carrying amount of foreclosed collaterals is
          untuk mengakui penurunan tersebut dan                              written down to recognize such permanent
          kerugiannya dibebankan dalam laporan laba                          decline in value and any losses from such write-
          rugi.                                                              down is recognized in profit or loss.

      an. Instrumen derivatif                                           an. Derivative Instruments

          Instrumen keuangan derivatif diukur dan diakui                    Derivatives financial instruments are valued and
          di laporan posisi keuangan pada nilai wajar.                      recognized in the statement of financial position
                                                                            at fair value net of allowance for possible losses.

          Setiap kontrak derivatif dicatat sebagai aset                     Each derivatives contract is recorded as asset
          apabila memiliki nilai wajar positif dan sebagai                  when the fair value is positive and as liability
          liabilitas apabila memiliki nilai wajar negatif.                  when the fair value is negative.




                                                             83
Page 480
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


2.    IKHTISAR KEBIJAKAN            AKUNTANSI        YANG           2.    SUMMARY OF SIGNIFICANT                    ACCOUNTING
      SIGNIFIKAN (lanjutan)                                               POLICIES (continued)

      an. Instrumen derivatif (lanjutan)                                  an. Derivative Instruments (continued)
          Tagihan dan liabilitas derivatif diklasifikasikan                   Derivatives receivable and payable are
          sebagai aset dan liabilitas keuangan yang                           classified as financial assets and liabilities
          diukur pada nilai wajar melalui laba rugi.                          measured at fair value through profit or loss.

          Keuntungan atau kerugian yang terjadi dari                          Gains or losses resulting from fair value
          perubahan nilai wajar diakui dalam laporan laba                     changes are recognized in the statement of
          rugi dan penghasilan komprehensif lain.                             profit or loss and other comprehensive income.
          Nilai wajar instrumen derivatif ditentukan                          The fair value of derivatives instruments is
          berdasarkan diskonto arus kas dan model                             determined based on discounted cash flows and
          penentu harga atau harga yang diberikan oleh                        pricing models or quoted prices from brokers of
          broker (quoted price) atas instrumen lainnya                        other instruments with similar characteristics,
          yang memiliki karakteristik serupa, yang                            which refers to SFAS No. 68, "Fair Value
          mengacu pada PSAK No. 68, ”Pengukuran Nilai                         Measurement" (Note 2e).
          Wajar” (Catatan 2e).
          Keuntungan atau kerugian dari kontrak derivatif                      Gains or losses from derivative contracts are
          disajikan dalam laporan keuangan berdasarkan                         presented in the financial statements based on
          tujuan Bank atas transaksi yaitu untuk (a)                           its purpose designated upon acquisition, as (a)
          lindung nilai atas nilai wajar, (b) lindung nilai                    fair value hedge, (b) cash flow hedge, (c) net
          atas arus kas, (c) lindung nilai atas investasi                      investment in a foreign operation hedge, and (d)
          bersih pada kegiatan operasi luar negeri dan                         trading instruments as follows:
          (d) instrumen perdagangan, sebagai berikut:

          a. Keuntungan atau kerugian dari kontrak                            a.   Gain or loss on a derivative contract
             derivatif yang ditujukan dan memenuhi                                 designated and qualified as a fair value
             syarat sebagai instrumen lindung nilai atas                           hedging instrument and the gain or loss
             nilai wajar dan keuntungan atau kerugian                              arising from the changes in fair value of
             atas perubahan nilai wajar aset dan liabilitas                        hedged assets and liabilities is recognised
             yang dilindungi, diakui sebagai laba atau                             as gain or loss that can be set off one
             rugi yang dapat saling hapus dalam periode                            another during the same accounting
             akuntansi yang sama. Setiap selisih yang                              period/year. Any difference representing
             terjadi        menunjukkan          terjadinya                        hedge ineffectiveness is directly recognized
             ketidakefektifan lindung nilai dan secara                             as gain or loss in current period.
             langsung diakui sebagai laba atau rugi
             periode berjalan.
          b. Bagian efektif dari keuntungan atau kerugian                      b. The effective portion arising from gain or
             atas kontrak derivatif yang ditujukan sebagai                        loss of derivative contracts, designated as a
             lindung nilai atas arus kas dilaporkan                               cash flow hedge instruments is reported as
             sebagai penghasilan komprehensif lain.                               other comprehensive income. The hedge
             Bagian yang tidak efektif dari lindung nilai                         ineffective portion is recognized as a gain or
             dilaporkan sebagai laba atau rugi periode                            loss in the current period.
             berjalan.
          c. Keuntungan atau kerugian dari kontrak                             c. Gain or loss arising from derivative contract
             derivatif yang ditujukan sebagai lindung nilai                       that is designated as a net investment hedge
             atas investasi bersih pada kegiatan operasi                          in a foreign operation is reported as other
             luar negeri dilaporkan sebagai penghasilan                           comprehensive income, as long as the
             komprehensif lain, sepanjang transaksi                               transactions are effectively recognized as
             tersebut dianggap efektif sebagai transaksi                          hedge transactions.
             lindung nilai.
          d. Keuntungan atau kerugian dari kontrak                             d. Gain or loss arising from derivative contract
             derivatif yang tidak ditujukan sebagai                               that is not designated as a hedging
             instrumen lindung nilai (atau kontrak derivatif                      instrument (or derivative contract that does
             yang tidak memenuhi persyaratan sebagai                              not qualify as a hedging instrument) is
             instrumen lindung nilai) diakui sebagai laba                         recognized as gain or loss in current period.
             atau rugi pada periode berjalan.


                                                               84
Page 481
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


3.     PENGGUNAAN PERTIMBANGAN, ESTIMASI                           3.    USE   OF    SIGNIFICANT   ACCOUNTING
       DAN ASUMSI AKUNTANSI YANG SIGNIFIKAN                              JUDGMENTS, ESTIMATES AND ASSUMPTIONS

       Penyusunan         laporan     keuangan       Bank                The preparation of the Bank’s financial statements
       mengharuskan manajemen untuk membuat                              requires management to make judgments,
       pertimbangan, estimasi dan asumsi yang                            estimates and assumptions that affect the reported
       mempengaruhi jumlah yang dilaporkan dari                          amounts of revenues, expenses, assets and
       pendapatan, beban, aset dan liabilitas, dan                       liabilities, and the disclosure of contingent liabilities,
       pengungkapan atas liabilitas kontinjensi, pada akhir              at the end of the reporting period. Uncertainty about
       periode pelaporan. Ketidakpastian mengenai                        these assumptions and estimates could result in
       asumsi dan estimasi tersebut dapat mengakibatkan                  outcomes that require a material adjustment to the
       penyesuaian material terhadap nilai tercatat aset                 carrying amounts of the asset and liability affected
       dan liabilitas dalam periode pelaporan berikutnya.                in future periods.

       Pertimbangan                                                      Judgments

       Pertimbangan berikut ini dibuat oleh manajemen                    The following judgments are made by management
       dalam rangka penerapan kebijakan akuntansi Bank                   in the process of applying the Bank’s accounting
       yang memiliki pengaruh paling signifikan atas                     policies that have the most significant effects on the
       jumlah yang diakui dalam laporan keuangan Bank:                   amounts recognized in the Bank’s Financial
                                                                         Statements:
       Usaha yang berkelanjutan                                          Going concern

       Manajemen Bank telah melakukan penilaian atas                     The Bank’s management has made an assessment
       kemampuan        Bank      untuk    melanjutkan                   of the Bank’s ability to continue as a going concern
       kelangsungan usahanya dan berkeyakinan bahwa                      and is satisfied that the Bank has the resources to
       Bank memilki sumber daya untuk melanjutkan                        continue its business for the foreseeable future.
       usahanya di masa mendatang. Selain itu,                           Furthermore, the management is not aware of any
       manajemen Bank tidak mengetahui adanya                            material uncertainties that may cast significant
       ketidakpastian material yang dapat menimbulkan                    doubt to the Bank’s ability to continue as a going
       keraguan yang signifikan terhadap kemampuan                       concern. Therefore, the financial statements
       Bank untuk melanjutkan usahanya. Oleh karena itu,                 continues to be prepared on the going concern
       laporan keuangan telah disusun atas dasar usaha                   basis.
       yang berkelanjutan.

       Klasifikasi aset dan liabilitas keuangan                          Classification of financial assets and financial
                                                                         liabilities

       Bank menetapkan klasifikasi atas aset dan liabilitas              The Bank determines the classifications of certain
       tertentu sebagai aset keuangan dan liabilitas                     assets and liabilities as financial assets and
       keuangan dengan mempertimbangkan bila definisi                    financial liabilities by judging if they meet the
       yang ditetapkan PSAK No. 71, “Instrumen                           definition set forth in SFAS No. 71, “Financial
       Keuangan” dipenuhi. Dengan demikian, aset                         Instument”. Accordingly, the financial assets and
       keuangan dan liabilitas keuangan diakui sesuai                    financial liabilities are accounted for in accordance
       dengan kebijakan akuntansi Bank seperti                           with the Bank’s accounting policies disclosed in
       diungkapkan pada Catatan 2e.                                      Note 2e.




                                                              85
Page 482
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                            unless otherwise stated)


3.        PENGGUNAAN PERTIMBANGAN, ESTIMASI                          3.    USE   OF    SIGNIFICANT   ACCOUNTING
          DAN ASUMSI AKUNTANSI YANG SIGNIFIKAN                             JUDGMENTS, ESTIMATES AND ASSUMPTIONS
          (lanjutan)                                                       (continued)
          Pertimbangan (lanjutan)                                          Judgments (continued)

          Pertimbangan berikut ini dibuat oleh manajemen                   The following judgments are made by management
          dalam rangka penerapan kebijakan akuntansi                       in the process of applying the Bank’s accounting
          Bank yang memiliki pengaruh paling signifikan                    policies that have the most significant effects on
          atas jumlah yang diakui dalam laporan keuangan                   the amounts recognized in the Bank’s Financial
          Bank: (lanjutan)                                                 Statements: (continued)
          Nilai wajar instrumen keuangan                                   Fair value of financial instruments
        Semua aset dan liabilitas dimana nilai wajar diukur                All assets and liabilities in which fair value is
        atau diungkapkan dalam laporan keuangan dapat                      measured or disclosed in the Financial Statements
        dikategorikan pada level hirarki nilai wajar,                      can be classified in fair value hierarchy levels,
        berdasarkan tingkatan input terendah yang                          based on the lowest level of input that is significant
        signifikan atas pengukuran nilai wajar secara                      to the overall fair value measurement:
        keseluruhan:
      -     Level 1: harga kuotasian (tanpa penyesuaian)                   -    Level 1: quoted prices (without adjustments) in
            di pasar aktif untuk aset atau liabilitas yang                      active markets for identical assets or liabilities
            identik yang dapat diakses pada tanggal                             which are accessible at the measurement date.
            pengukuran.
                                                                           -    Level 2: inputs other than quoted prices
      -      Level 2: input selain harga kuotasian yang
                                                                                included in level 1 that are observable for the
             termasuk dalam level 1 yang dapat diobservasi
                                                                                assets and liabilities, either directly or indirectly.
             untuk aset dan liabilitas, baik secara langsung
             atau tidak langsung.
      -      Level 3: input yang tidak dapat diobservasi                   -    Level 3: inputs that are not observable for the
             untuk aset dan liabilitas.                                         assets and liabilities.

          Aset keuangan yang tidak memiliki harga pasar                    Financial assets not quoted in an active market
          Bank mengklasifikasikan aset keuangan dengan                     The Bank classifies financial assets by evaluating,
          mengevaluasi, antara lain, apakah nilai tersebut                 among others, whether the asset is quoted or not in
          dikutip atau tidak di pasar aktif. Termasuk dalam                an active market. Included in the evaluation on
          evaluasi mengenai apakah aset keuangan dikutip                   whether a financial asset is quoted in an active
          di pasar aktif adalah penentuan apakah harga                     market is the determination on whether quoted
          pasar dapat segera dan secara teratur tersedia,                  prices are readily and regularly available, and
          dan apakah mereka mewakili harga aktual dan                      whether those prices represent actual and regularly
          teratur terjadi transaksi pasar secara arms-length.              occurring market transactions on an arm’s length
                                                                           basis.

          Kontinjensi                                                      Contingencies
          Bank sedang terlibat dalam proses hukum.                         The Bank is currently involved in legal proceedings.
          Perkiraan biaya kemungkinan bagi penyelesaian                    The estimate of the probable cost for the resolution
          klaim telah dikembangkan melalui konsultasi                      of claims has been developed in consultation with
          dengan bantuan konsultan hukum Bank didasarkan                   the aid of the external legal counsel handling the
          pada analisis hasil yang potensial. Manajemen                    Bank’s defense in this matter and is based upon an
          tidak berkeyakinan bahwa hasil dari hal ini akan                 analysis of potential results. Management does not
          mempengaruhi hasil usaha. Besar kemungkinan,                     believe that the outcome of this matter will affect the
          bagaimanapun, bahwa hasil operasi di masa depan                  results of operations. It is probable, however, that
          dapat secara material terpengaruh oleh perubahan                 future results of operations could be materially
          dalam estimasi atau efektivitas dari strategi yang               affected by changes in the estimates or in the
          terkait dengan hal tersebut.                                     effectiveness of the strategies relating to these
                                                                           proceedings.




                                                                86
Page 483
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


3.     PENGGUNAAN PERTIMBANGAN, ESTIMASI                          3.    USE     OF  SIGNIFICANT   ACCOUNTING
       DAN ASUMSI AKUNTANSI YANG SIGNIFIKAN                             JUDGMENTS, ESTIMATES AND ASSUMPTIONS
       (lanjutan)                                                       (continued)

       Pertimbangan (lanjutan)                                          Judgments (continued)

       Pertimbangan berikut ini dibuat oleh manajemen                   The following judgments are made by management
       dalam rangka penerapan kebijakan akuntansi Bank                  in the process of applying the Bank’s accounting
       yang memiliki pengaruh paling signifikan atas                    policies that have the most significant effects on the
       jumlah yang diakui dalam laporan keuangan Bank:                  amounts recognized in the Bank’s Financial
       (lanjutan)                                                       Statements: (continued)
       Estimasi dan Asumsi                                              Estimates and Assumptions
       Asumsi utama masa depan dan sumber utama                         The key assumptions concerning the future and
       estimasi ketidakpastian lain pada tanggal                        other key sources of estimation uncertainty at the
       pelaporan yang memiliki risiko untuk dapat                       reporting date that have a significant risk of causing
       menyebabkan penyesuaian yang material terhadap                   a material adjustment to the carrying amounts of
       nilai tercatat aset dan liabilitas untuk tahun                   assets and liabilities within the next financial year
       berikutnya seperti yang diungkapkan di bawah ini.                are disclosed below. The Bank based its
       Bank mendasarkan asumsi dan estimasi yang                        assumptions and estimates on parameters
       digunakan pada parameter yang tersedia pada saat                 available when the financial statements were
       laporan keuangan disusun.                                        prepared.
       Asumsi dan situasi mengenai perkembangan masa                    Existing circumstances and assumptions about
       depan dapat berubah akibat perubahan pasar atau                  future developments may change due to market
       situasi yang timbul di luar kendali Bank. Perubahan              changes or circumstances arising beyond the
       tersebut dicerminkan dalam asumsi yang                           control of the Bank. Such changes are reflected in
       digunakan pada saat terjadinya.                                  the assumptions when they occur.

       Cadangan kerugian penurunan nilai dari kredit                    Allowance for impairment losses on loans and
       dan pembiayaan/piutang syariah                                   sharia financing/receivables
       Bank menelaah aset keuangan mereka pada nilai                    The Bank reviews their financial assets at fair value
       wajar melalui pendapatan komprehensif lain dan                   through other comprehensive income and financial
       aset keuangan pada biaya perolehan diamortisasi                  assets at amortized cost under SFAS No. 71 which
       berdasarkan PSAK No. 71 yang mengharuskan                        required to recognize the expected credit loss at
       untuk mengakui kerugian kredit ekspektasian pada                 each reporting date to reflect changes in credit risk
       setiap tanggal pelaporan untuk mencerminkan                      of the financial assets not at fair value through profit
       perubahan risiko kredit dari aset keuangan tidak                 or loss. SFAS No. 71 incorporates forward looking
       pada nilai wajar melalui laba rugi. PSAK No. 71                  and historical, current and forecasted information
       menggabungkan informasi forward-looking dan                      into expected credit loss estimation
       historis, terkini dan yang diperkirakan ke dalam
       estimasi kerugian kredit ekspektasian.




                                                             87
Page 484
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


3.     PENGGUNAAN PERTIMBANGAN, ESTIMASI                          3.    USE     OF  SIGNIFICANT   ACCOUNTING
       DAN ASUMSI AKUNTANSI YANG SIGNIFIKAN                             JUDGMENTS, ESTIMATES AND ASSUMPTIONS
       (lanjutan)                                                       (continued)

       Estimasi dan Asumsi (lanjutan)                                    Estimates and Assumptions (continued)
       Cadangan kerugian penurunan nilai dari kredit                    Allowance for impairment losses on loans and
       dan pembiayaan/piutang syariah (lanjutan)                        sharia financing/receivables (continued)
       Dalam melakukan peninjauan penurunan nilai,                      In carrying out the impairment review, the following
       penilaian manajemen berikut diperlukan:                          management‟s judgements are required:
       i.   Penentuan      apakah     aset      mengalami                i.  Determination whether the assets is impaired
            penurunan nilai berdasarkan indikator tertentu                   based on certain indicators such as, amongst
            seperti, antara lain, kesulitan keuangan                         others, financial difficulties of the debtor’s,
            debitur, penurunan kualitas kredit; dan                          deterioration of the credit quality of the
                                                                             debtor’s; and
       ii. Penentuan umur kredit ekspektasian yang                       ii. Determination of expected credit life that
           mencerminkan:                                                     reflect:
           a. Jumlah yang tidak bias dan probabilitas                        a. An unbiased and probability-weighted
               tertimbang yang ditentukan dengan                                  amount that is determined by evaluating
               mengevaluasi kemungkinan dari berbagai                             a range of possible outcomes;
               hasil;
           b. Nilai waktu dari uang.                                          b.   The time value of money.
       Penurunan nilai untuk surat berharga                              Impairment of securities
       Bank menentukan bahwa surat berharga memiliki                     The Bank determines that securities are impaired
       kriteria penurunan nilai yang sama dengan aset                    based on the same criteria as financial assets
       keuangan yang dicatat pada biaya perolehan                        carried at amortized cost.
       diamortisasi.
       Umur ekonomis dari aset tetap                                     Useful lives of premises and equipment
       Bank memperkirakan masa manfaat aset tetap                        The Bank estimates the useful lives of premises
       berdasarkan periode dimana aset diharapkan akan                   and equipment based on the period over which the
       tersedia untuk digunakan. Masa manfaat ekonomis                   assets are expected to be available-for-use. The
       aset tetap ditinjau secara berkala dan diperbarui                 estimated useful lives of premises and equipment
       jika memiliki ekspektasi yang berbeda dari                        are reviewed periodically and are updated if
       perkiraan sebelumnya, karena kerusakan secara                     expectations differ from previous estimates due to
       fisik dan teknis, atau keusangan secara komersial                 physical wear and tear, technical or commercial
       dan legal atau batasan lainnya atas penggunaan                    obsolescence and legal or other limits on the use of
       aset tersebut.                                                    the assets.
       Selain hal tersebut, estimasi masa manfaat dari                   In addition, estimation of the useful lives of
       aset tetap didasarkan pada penilaian secara                       premises and equipment is based on collective
       kolektif dengan menggunakan praktik industri,                     assessment of industry practice, internal technical
       teknik evaluasi internal dan pengalaman dengan                    evaluation and experience with similar assets.
       aset serupa.
       Tetap dimungkinkan, bagaimanapun, bahwa hasil                     It is possible, however, that future results of
       masa depan dapat secara material dipengaruhi                      operations could be materially affected by changes
       oleh perubahan estimasi yang disebabkan oleh                      in estimates brought about by changes in factors
       perubahan faktor-faktor tersebut di atas.                         mentioned above.
       Jumlah dan saat pencatatan biaya untuk setiap                     The amounts and timing of recorded expenses for
       periode akan dipengaruhi oleh perubahan dari                      any period would be affected by changes in these
       faktor dan keadaan saat pencatatan. Pengurangan                   factors and circumstances. The reduction in the
       taksiran masa manfaat dari aset tetap akan                        estimated useful lives of premises and equipment
       meningkatkan beban operasional yang diakui.                       would increase the recorded operating expenses.




                                                             88
Page 485
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


3.     PENGGUNAAN PERTIMBANGAN, ESTIMASI                         3.    USE     OF  SIGNIFICANT   ACCOUNTING
       DAN ASUMSI AKUNTANSI YANG SIGNIFIKAN                            JUDGMENTS, ESTIMATES AND ASSUMPTIONS
       (lanjutan)                                                      (continued)

       Estimasi dan Asumsi (lanjutan)                                   Estimates and Assumptions (continued)

       Jangka waktu sewa                                                The lease term

       Bank menentukan jangka waktu sewa sebagai                        The Bank determines the lease term as a non
       jangka waktu sewa yang tidak dapat dibatalkan,                   cancellable lease term, along with the period
       bersama dengan periode yang dicakup oleh opsi                    covered by the option to extend the lease if it is
       untuk memperpanjang masa sewa jika dipastikan                    reasonably exercised, or any period covered by the
       akan dilaksanakan, atau periode apa pun yang                     option to terminated the lease, if it is reasonable not
       dicakup oleh opsi untuk menghentikan sewa, jika                  to exercise.
       cukup wajar untuk tidak dilakukan.

       Bank memiliki beberapa kontrak sewa yang                         The Bank has several leases that include extention
       mencakup opsi perpanjangan dan penghentian                       option and termination of lease term. Bank
       jangka waktu sewa. Bank menerapkan penilaian                     implements the assessment in evaluating whether
       dalam mengevaluasi apakah dapat dipastikan jika                  it ensure to exercise the extention or termination
       akan menggunakan opsi untuk memperpanjang                        option of lease. This done by taking into
       atau menghentikan sewa. Hal tersebut dilakukan                   consideration of all relevant facts and
       dengan mempertimbangkan seluruh fakta dan                        circumstances that provide economic incentives for
       keadaan yang relevan yang memberikan insentif                    the extention or termination of the lease. After the
       ekonomi untuk melakukan perpanjangan atau                        commencement date, the Bank assesses the lease
       penghentian sewa. Setelah tanggal dimulainya,                    term, if there is an event or significant change in
       Bank menilai kembali masa sewa, jika terdapat                    circumstances that are in control and affects
       peristiwa atau perubahan signifikan dalam keadaan                whether the Bank is reasonable to exercise the
       yang berada dalam kendali dan mempengaruhi                       extention or termination option of the lease.
       apakah Bank cukup pasti untuk mengeksekusi opsi
       memperpanjang atau menghentikan sewa.

       Penurunan nilai aset non-keuangan                               Impairment of non-financial assets
       Bank mengevaluasi penurunan nilai aset non-                     The Bank assesses impairment of non-financial
       keuangan apabila terdapat kejadian atau                         assets whenever events or changes in
       perubahan keadaan yang mengindikasikan bahwa                    circumstances indicate that the carrying amount of
       nilai tercatat aset non-keuangan tidak dapat                    non-financial asset may not be recoverable.
       dipulihkan kembali.

       Faktor-faktor penting yang dapat menyebabkan                    The factors that the Bank considers important which
       penelaahan penurunan nilai adalah sebagai                       could trigger an impairment review include the
       berikut:                                                        following:
       a) Kinerja yang rendah secara signifikan jika                   a) significant underperformance relative to
           dibandingkan dengan ekspektasi dari hasil                        expected historical or projected future operating
           operasi historis maupun proyeksi hasil operasi                   results;
           di masa yang akan datang;
       b) perubahan yang signifikan dalam cara                         b)   significant changes in the manner of use of the
           penggunaan aset atau strategi bisnis secara                      acquired assets or the strategy for overall
           keseluruhan; dan                                                 business; and
       c) Industri atau tren ekonomi yang secara                       c)   significant negative industry or economic
           signifikan bernilai negatif.                                     trends.

       Bank mengakui kerugian penurunan nilai apabila                  The Bank recognizes an impairment loss whenever
       nilai tercatat aset melebihi nilai yang dapat                   the carrying amount of an asset exceeds its
       dipulihkan.                                                     recoverable amount.




                                                            89
Page 486
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


3.     PENGGUNAAN PERTIMBANGAN, ESTIMASI                         3.     USE     OF  SIGNIFICANT   ACCOUNTING
       DAN ASUMSI AKUNTANSI YANG SIGNIFIKAN                             JUDGMENTS, ESTIMATES AND ASSUMPTIONS
       (lanjutan)                                                       (continued)

       Estimasi dan Asumsi (lanjutan)                                  Estimates and Assumptions (continued)

       Jumlah terpulihkan adalah nilai yang lebih tinggi               The recoverable amount is the higher of an asset’s
       antara nilai wajar dikurang biaya pelepasan dengan              (or Cash Generating Unit’s) fair value less costs of
       nilai pakai aset (atau unit penghasil kas). Jumlah              disposals and its value in use. Recoverable
       terpulihkan diestimasi untuk aset individual atau,              amounts are estimated for individual assets or, if it
       jika tidak memungkinkan, untuk unit penghasil kas               is not possible, for the Cash Generating Unit to
       yang mana aset tersebut merupakan bagian                        which the asset belongs.
       daripada unit tersebut.

       Pengakuan aset pajak tangguhan                                  Recognition of deferred tax assets
       Aset pajak tangguhan diakui untuk seluruh saldo                 Deferred tax assets are recognized for all unused
       rugi fiskal yang belum digunakan sejauh terdapat                tax losses and credits to the extent that it is probable
       kemungkinan bahwa saldo rugi tersebut dapat                     that taxable income will be available against which
       dikompensasikan terhadap penghasilan kena                       the losses can be utilized.
       pajak di masa yang akan datang.
       Pertimbangan manajemen yang signifikan                          Significant management judgment is required to
       diperlukan untuk menentukan jumlah aset pajak                   determine the amount of deferred tax assets that
       tangguhan yang dapat diakui, sesuai dengan saat                 can be recognized, based upon the likely timing and
       dan jumlah penghasilan kena pajak di masa                       level of future taxable income together with future
       mendatang seiring dengan strategi perencanaan                   tax planning strategies.
       pajak.

       Bank menelaah aset pajak tangguhan pada setiap                  The Bank reviews its deferred tax assets at each
       tanggal laporan posisi keuangan dan mengurangi                  statement of financial position date and reduces the
       jumlah tercatat dalam hal tidak adanya lagi                     carrying amount to the extent that it is no longer
       kemungkinan bahwa penghasilan kena pajak yang                   probable that sufficient taxable income will be
       cukup akan tersedia untuk mengkompensasi                        available to allow all or part of the deferred tax
       sebagian atau seluruh aset pajak tangguhan.                     assets to be utilized.

       Pertimbangan signifikan diperlukan         dalam               Significant judgement is required in determining the
       menentukan provisi perpajakan                                  provision for taxes

       Bank menentukan provisi perpajakan berdasarkan                 The Bank provides for tax provision based on
       estimasi atas kemungkinan adanya tambahan                      estimates whether the additional taxes will be due.
       beban pajak. Jika hasil akhir dari hal ini berbeda             Where the final tax outcome of these matters is
       dengan jumlah yang dicatat semula, maka                        different from the amounts that were initially
       perbedaan tersebut akan berdampak terhadap                     recorded, such differences will impact the profit/loss.
       laba/rugi.

       Nilai kini atas kewajiban pensiun                              Present value of retirement obligation

       Biaya atas program pensiun dan imbalan pasca                   The cost of defined retirement pension plan and other
       kerja lainnya ditentukan dengan perhitungan                    post employment benefits is determined using
       aktuaris.                                                      actuarial valuations.

       Perhitungan aktuaris melibatkan penggunaan                     The actuarial valuation involves making
       asumsi mengenai tingkat diskonto, tingkat                      assumptions about discount rates, expected rates
       pengembalian yang diharapkan dari aset,                        of return on assets, future salary increases,
       kenaikan gaji di masa depan, tingkat kematian dan              mortality rates and disability rate. Due to the long-
       tingkat kecacatan. Karena program tersebut                     term nature of these plans, such estimates are
       memiliki sifat jangka panjang, maka perkiraan                  subject to significant uncertainty.
       tersebut memiliki ketidakpastian yang signifikan.




                                                            90
Page 487
                                                                             The original financial statements included herein are in the
                                                                                                                   Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                          As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                    and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                              unless otherwise stated)


4.     KAS                                                             4.      CASH

                                            31 Desember/                        31 Desember/
                                          December 31, 2023                   December 31, 2022
                                  Jumlah nosional                     Jumlah nosional
                                  mata uang asing/                    mata uang asing/
                                  Notional amount                     Notional amount
                                     in foreign                          in foreign
                                     currencies       Ekuivalen/         currencies        Ekuivalen/
                                   (angka penuh/      Equivalent       (angka penuh/       Equivalent
                                    full amount)       Rupiah           full amount)        Rupiah

       Rupiah                                             2.095.378                            1.645.841                               Rupiah


       Mata uang asing                                                                                                       Foreign currencies
         Dolar Amerika Serikat           1.183.419           18.221             711.837           11.081               United States Dollar
         Dolar Singapura                   598.715            6.991             193.883            2.248                    Singapore Dollar
         Dolar Australia                   279.700            2.943              99.490            1.050                    Australian Dollar
         Euro Eropa                         94.220            1.605              34.410              570                     European Euro
         Pound Sterling Inggris             41.035              805               2.350               44        Great Britain Pound Sterling
         Yen Jepang                      5.497.000              598           1.310.000              154                      Japanese Yen
         Dolar Hong Kong                   188.570              372              46.550               97                   Hong Kong Dollar
         Ringgit Malaysia                   90.389              303              87.453              309                   Malaysian Ringgit
         Riyal Arab Saudi                   34.040              140              19.573               81                Saudi Arabian Riyal
         Renminbi                           61.204              133              26.102               58                           Renminbi

                                                             32.111                               15.692

       Total                                              2.127.489                            1.661.533                              Total



       Saldo dalam mata uang Rupiah termasuk uang                              The Rupiah balance includes cash in ATMs
       pada Anjungan Tunai Mandiri (ATM) sebesar                               (Automated Teller Machines) of Rp311,154 and
       Rp311.154 dan Rp270.091, masing-masing pada                             Rp270,091, as of December 31, 2023 and 2022,
       tanggal 31 Desember 2023 dan 2022.                                      respectively.

5.     GIRO PADA BANK INDONESIA                                        5.      CURRENT ACCOUNTS WITH BANK INDONESIA

                                            31 Desember/                        31 Desember/
                                          December 31, 2023                   December 31, 2022

                                  Jumlah nosional                     Jumlah nosional
                                  mata uang asing/                    mata uang asing/
                                  Notional amount                     Notional amount
                                    in foreign                           in foreign
                                    currencies       Ekuivalen/          currencies       Ekuivalen/
                                  (angka penuh/      Equivalent       (angka penuh/       Equivalent
                                   full amount)       Rupiah            full amount)       Rupiah

       Rupiah                                          17.607.788                           25.192.737                            Rupiah
       Mata uang asing                                                                                                   Foreign currency
         Dolar Amerika Serikat        34.940.135           537.973          14.402.083         224.204            United States Dollar

       Total                                           18.145.761                           25.416.941                                  Total


       Dalam giro pada Bank Indonesia termasuk giro                            Current accounts with Bank Indonesia include
       yang didasarkan pada prinsip perbankan syariah                          current accounts based on sharia banking
       sebesar Rp3.290.216 dan Rp3.381.362 masing-                             principles amounting to Rp3,290,216 and
       masing pada tanggal 31 Desember 2023 dan 2022.                          Rp3,381,362 as of December 31, 2023 and 2022,
                                                                               respectively.




                                                               91
Page 488
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


5.    GIRO PADA BANK INDONESIA (lanjutan)                        5.     CURRENT ACCOUNTS WITH BANK INDONESIA
                                                                        (continued)

       Rasio GWM Bank pada tanggal 31 Desember 2023                     The minimum reserve requirement ratios of the
       dan 2022 adalah sebagai berikut:                                 Bank as of December 31, 2023 and 2022, are as
                                                                        follows:

                                            31 Desember/         31 Desember/
                                          December 31, 2023    December 31, 2022

       Konvensional                                                                                                Conventional
         Rupiah                                                                                                          Rupiah
         Utama                                      6,04%                 8,28%                                      Primary
          Harian                                    0,24%                 0,18%                                       Daily
          Rata-rata                                 5,80%                 8,10%                                    Average
         PLM                                        9,66%                16,17%                                         PLM

      Dolar Amerika Serikat                         4,40%                  4,13%                            United States Dollar

       Syariah                                                                                                           Sharia
        Rupiah                                      6,10%                  7,76%                                         Rupiah

      Saldo giro pada Bank Indonesia disediakan untuk                   Current accounts with Bank Indonesia are
      memenuhi persyaratan Giro Wajib Minimum (GWM)                     maintained to comply with Bank Indonesia’s
      dari Bank Indonesia.                                              Minimum Legal Reserve Requirements (GWM).


      Rasio GWM pada tanggal 31 Desember 2023 dan                      The calculation of the GWM ratios as of
      2022 dihitung berdasarkan Peraturan Bank                         December 31, 2023 and 2022 is based on Bank
      Indonesia No. 20/3/PBI/2018 tanggal 29 Maret 2018                Indonesia regulation (PBI) No. 20/3/PBI/2018 dated
      yang telah diubah beberapa kali, terakhir dengan                 March 29, 2018, which has been amended several
      PBI No. 24/4/PBI/2022 tanggal 25 Februari 2022.                  times, the latest with PBI No. 24/4/PBI/2022 dated
      PBI tersebut dijelaskan oleh Peraturan Anggota                   February 25, 2022. The PBI is explained by
      Dewan Gubernur (PADG) No. 20/10/PADG/2018                        Regulations of Members of the Board of Governors
      tanggal 31 Mei 2018 sebagaimana telah diubah                     (PADG) No. 20/10/PADG/2018 dated May 31, 2018
      beberapa kali dengan PADG No.20/30/PADG/2018                     which has been amended several times with PADG
      tanggal 30 November 2018, PADG No.                               No. 20/30/PADG/2018 dated November 30, 2018,
      21/14/PADG/2019      tanggal   26    Juni    2019                PADG No. 21/14/PADG/2019 dated June 26, 2019
      sebagaimana telah diubah beberapa kali dengan                    which has been amended several times with PADG
      PADG       No.      21/27/PADG/2019       tanggal                No. 21/27/PADG/2019 dated December 26, 2019,
      26 Desember 2019, PADG No. 22/2/PADG/2020                        PADG No. 22/2/PADG/2020 dated March 13 2020
      tanggal    13    Maret     2020,    PADG      No.                PADG No. 22/10/PADG/2020 dated April 30, 2020,
      22/10/PADG/2020 tanggal 30 April 2020, PADG No.                  PADG No. 22/19/PADG/2020 dated July 29, 2020,
      22/19/PADG/2020 tanggal 29 Juli 2020, PADG                       PADG No.23/27/PADG/2021 dated December 21,
      No.23/27/PADG/2021 tanggal 21 Desember 2021,                     2021, PADG No. 24/3/PADG/2022 dated March 1,
      PADG No. 24/3/PADG/2022 tanggal 1 Maret 2022,                    2022, PADG No. 24/8/PADG/2022 dated June 30,
      PADG No. 24/8/PADG/2022 tanggal 30 Juni 2022,                    2022, PADG No. 2 year of 2023 dated March 24,
      PADG No. 2 Tahun 2023 tanggal 24 Maret 2023 dan                  2023 and the latest amendment by PADG No.12
      perubahan terakhir pada PADG No. 12 Tahun 2023                   year of 2023 dated October 1, 2023 regarding
      tanggal 1 Oktober 2023 tentang “Giro Wajib                       “Minimum Statutory Reserve Requirements in
      Minimum dalam Rupiah dan Valuta Asing bagi Bank                  Rupiah and Foreign Currencies of Conventional
      Umum Konvensional, Bank Umum Syariah, dan Unit                   Commercial Banking, Sharia Commercial Banking
      Usaha Syariah”.                                                  and Sharia Business Units”.




                                                          92
Page 489
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


5.    GIRO PADA BANK INDONESIA (lanjutan)                         5.     CURRENT ACCOUNTS WITH BANK INDONESIA
                                                                         (continued)

      Bank Indonesia melakukan penguatan kebijakan                      Bank Indonesia has strengthened incentive policy to
      insentif untuk mendorong peranan perbankan dalam                  stimulate the role of banks in financing priority
      pembiayaan kepada sektor prioritas sesuai                         sectors in accordance with Bank Indonesia
      Peraturan Bank Indonesia (PBI) No. 24/5/PBI/2022                  Regulation (PBI) No. 24/5/PBI/2022 regarding
      tentang Insentif bagi Bank yang Memberikan                        Incentives for Banks Providing Funds for Certain
      Penyediaan Dana untuk Kegiatan Ekonomi Tertentu                   and Inclusive Economic Activities dated February
      dan Inklusif tanggal 25 Februari 2022, sebagaimana                25, 2022, as further regulated through PADG No.
      diatur    lebih    lanjut  melalui     PADG     No.               24/4/PADG/2022 dated March 1, 2022 as amended
      24/4/PADG/2022        tanggal    1   Maret    2022                by the latest amendment of PADG No. 1 of 2023
      sebagaimana telah diubah dengan perubahan                         dated February 15, 2023, and the latest amendment
      terakhir PADG No. 1 Tahun 2023 tanggal 15                         by PADG No. 11 year of 2023 dated September 27,
      Februari 2023 dan perubahan terakhir PADG No. 11                  2023 regarding “Regulations for Implementing
      tahun 2023 tanggal 27 September 2023 tentang                      Macroprudential Liquidity Incentive Policy” Bank
      “Peraturan      Pelaksanaan    Kebijakan    Insentif              Indonesia provides incentives in the form of leniency
      Likuiditas Makroprudensial” Bank Indonesia                        on the obligation to fulfill the statutory reserve in
      memberikan insentif berupa kelonggaran atas                       rupiah which must be fulfilled on a daily basis of
      kewajiban pemenuhan GWM dalam rupiah yang                         3.20% (three point two percent) and the obligation
      wajib dipenuhi secara harian sebesar 3,20% (tiga                  to fulfill the statutory reserve in rupiah based on
      koma dua persen) dan kewajiban pemenuhan GWM                      sharia principles is 2.50% (two point five percent).
      dalam rupiah berdasarkan prinsip syariah sebesar                  This incentive is given to Banks that provide funds
      2,50% (dua koma lima persen). Insentif bagi Bank                  for certain and inclusive economic activities as
      yang melakukan penyediaan dana untuk kegiatan                     stipulated by Bank Indonesia and are valid from
      ekonomi tertentu dan inklusif ditetapkan oleh Bank                December 1, 2023 to February 29, 2024.
      Indonesia dan berlaku mulai 1 Desember 2023
      sampai dengan 29 Februari 2024.

      Pada tanggal-tanggal 31 Desember 2023 dan 2022,                   As of December 31, 2023 and 2022, based on the
      sesuai dengan ketentuan Bank Indonesia tersebut di                above Bank Indonesia regulations, the Bank is
      atas, Bank harus memenuhi persyaratan GWM                         required to maintain primary GWM in Rupiah
      Utama dalam Rupiah masing-masing sebesar                          amounting to 5.80% and 8.10%, respectively, while
      5,80% dan 8,10%, sedangkan untuk mata uang                        GWM for foreign currency amounting to 4.00% and
      asing masing-masing sebesar 4,00% dan 4,00%.                      4.00%, respectively. PLM amounting to 5.00% and
      Untuk PLM adalah sebesar 5,00% dan 6,00% dalam                    6.00% in Rupiah as of December 31, 2023 and
      Rupiah pada tanggal 31 Desember 2023 dan 2022.                    2022.

      Pada tanggal-tanggal 31 Desember 2023 dan 2022,                   As of December 31, 2023 and 2022, based on the
      sesuai dengan ketentuan Bank Indonesia tersebut                   Bank Indonesia regulations, for sharia principle,
      berdasarkan prinsip syariah Bank harus memenuhi                   The Bank is required to maintain GWM in Rupiah of
      persyaratan GWM dalam Rupiah masing-masing                        5.00% and 7.50%. For foreign currencies of 1.00%
      sebesar 5,00% dan 7,50%. Untuk mata uang asing                    and 1.00%, respectively.
      masing-masing sebesar 1,00% dan 1,00%.




                                                             93
Page 490
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


5.    GIRO PADA BANK INDONESIA (lanjutan)                         5.     CURRENT ACCOUNTS WITH BANK INDONESIA
                                                                         (continued)

       Pada tanggal-tanggal 31 Desember 2023 dan                         As of December 31, 2023 and 2022, The Bank must
       2022, Bank juga harus memenuhi Peraturan Bank                     also comply with Bank Indonesia Regulation (PBI)
       Indonesia (PBI) No. 20/4/PBI/2018 tanggal 29                      No. 20/4/PBI/2018 dated March 29, 2018 regarding
       Maret 2018 tentang “Rasio Intermediasi                            “Macroprudential Intermediation Ratios and
       Makroprudensial dan Penyangga Likuiditas                          Macroprudential Liquidity Buffers for Conventional
       Makroprudensial bagi Bank Umum Konvensional,                      Commercial Banks, Sharia Commercial Banks, and
       Bank Umum Syariah, dan Unit Usaha Syariah”                        Sharia Business Unit” which has been amended
       sebagaimana telah diubah dengan PBI No.                           with PBI 21/12/PBI/2019 dated November 25,
       21/12/PBI/2019 tanggal 25 November 2019, PBI                      2019, PBI No. 22/17/PBI/2020 dated September
       No. 22/17/PBI/2020 tanggal 30 September 2020,                     30, 2020 and PBI 24/16/PBI/2022 dated November
       dan PBI No.24/16/PBI/2022 tanggal 1 November                      1, 2022, which is explained through PADG
       2022 yang dijelaskan melalui Peraturan Anggota                    No. 21/22/PADG/2019 dated November 28, 2019
       Dewan Gubernur No.21/22/PADG/2019 tanggal 28                      which has been amended with PADG
       November 2019 yang telah diubah dengan PADG                       No. 21/11/PADG/2020 dated April 29, 2020, PADG
       No. 21/11/PADG/2020 tanggal 29 April 2020,                        No. 22/30/PADG/2020 dated October 5, 2020,
       PADG 22/30/PADG/2020 tanggal 5 Oktober 2020,                      PADG No. 23/7/PADG/2021 dated April 26, 2021,
       PADG No. 23/7/PADG/2021 tanggal 26 April 2021,                    PADG No. 23/31/PADG/2021 dated December 31,
       PADG No. 23/31/PADG/2021 tanggal 31                               2021 and the latest amendment by PADG
       Desember 2021 dan perubahan terakhir PADG No.                     24/14/PADG/2022 dated November 1, 2022
       24/14/PADG/2022 tanggal 1 November 2022                           concerning “Macroprudential Intermediation Ratio
       tentang “Rasio Intermediasi Makroprudensial dan                   and Macroprudential Liquidity Buffer           for
       Penyangga Likuiditas Makroprudensial bagi Bank                    Conventional     Commercial      Banks,    Sharia
       Umum Konvensional, Bank Umum Syariah, dan                         Commercial Banks, and Sharia Business Units”.
       Unit Usaha Syariah”.
       GWM Primer adalah simpanan minimum yang                           Primary Minimum Statutory Reserve is a minimum
       wajib dipelihara oleh Bank dalam bentuk saldo                     reserve that should be maintained by the Bank in
       Rekening Giro pada Bank Indonesia. GWM                            Current Accounts with Bank Indonesia. Secondary
       Sekunder        dan     Penyangga        Likuiditas               Minimum Statutory Reserve and Macroprudential
       Makroprudensial (PLM) adalah cadangan minimum                     Liquidity Buffer are the minimum reserves that
       yang wajib dipelihara oleh Bank berupa Sertifikat                 should be maintained by the Bank which comprise
       Bank Indonesia (SBI), Surat Utang Negara (SUN),                   of Certificates of Bank Indonesia (SBI),
       Surat Berharga Syariah Negara (SBSN) dan/atau                     Government Debenture Debt (SUN), Sharia
       excess reserve yang merupakan kelebihan saldo                     Government Securities (SBSN), and/or excess
       Rekening Giro Rupiah Bank dari GWM Primer,                        reserve which represents the excess reserve of the
       GWM         LFR     dan     Rasio     Intermediasi                Bank’s Current Accounts in Rupiah over the
       Makroprudensial (RIM). GWM LFR dan RIM adalah                     Primary Minimum Statutory Reserve, Minimum
       tambahan simpanan minimum yang wajib                              Statutory Reserve on LFR and Macroprudential
       dipelihara oleh Bank dalam bentuk saldo Rekening                  Intermediation Ratio (RIM). Minimum Statutory
       Giro pada Bank Indonesia, jika LFR dan RIM target                 Reserve on LFR and RIM is the additional reserve
       Bank Indonesia (84%) atau jika di atas maksimum                   that should be maintained by the Bank in the form
       LFR dan RIM target BI (94%) dan Kewajiban                         of Current Accounts with Bank Indonesia, if the
       Penyediaan Modal Minimum (KPMM) Bank lebih                        Bank’s LFR and RIM is below the minimum of LFR
       kecil dari KPMM Insentif BI sebesar 14%.                          and RIM targeted by Bank Indonesia (84%) or if the
                                                                         Bank’s LFR and RIM is above the maximum of LFR
                                                                         and RIM targeted by BI (94%) and the Capital
                                                                         Adequacy Ratio (CAR) is below BI requirement of
                                                                         14%.

       Bank telah memenuhi ketentuan Bank Indonesia                      The Bank has complied with Bank Indonesia
       tentang Giro Wajib Minimum pada tanggal-tanggal                   regulations concerning the minimum reserve
       31 Desember 2023 dan 2022.                                        requirements as of December 31, 2023 and 2022.

       Sisa umur jatuh tempo atas giro pada Bank                         The remaining period of current accounts with Bank
       Indonesia dikategorikan sebagai kurang dari satu                  Indonesia is categorized as less than one month
       bulan (Catatan 46).                                               (Note 46).



                                                             94
Page 491
                                                                                The original financial statements included herein are in the
                                                                                                                      Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                      PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                              As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                        and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                           (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                  unless otherwise stated)


6.    GIRO PADA BANK LAIN                                                  6.     CURRENT ACCOUNTS WITH OTHER BANKS

      a.   Berdasarkan mata uang                                                  a.     By currency

                                                 31 Desember/                     31 Desember/
                                               December 31, 2023                December 31, 2022

                                       Jumlah nosional                    Jumlah nosional
                                       mata uang asing/                   mata uang asing/
                                       Notional amount                    Notional amount
                                         in foreign                         in foreign
                                         currencies       Ekuivalen/        currencies           Ekuivalen/
                                       (angka penuh/      Equivalent      (angka penuh/          Equivalent
                                        full amount)       Rupiah          full amount)           Rupiah

            Rupiah                                            234.046                                540.052                                Rupiah

            Mata uang asing                                                                                                      Foreign currencies
             Yen Jepang                 7.806.707.206         849.955      3.825.323.896             450.661                        Japanese Yen
             Dolar Amerika Serikat         48.194.949         742.058         19.465.688             304.746                  United States Dollar
             Australia Dollar              16.604.307         174.690          4.480.725              47.307                     Australian Dollar
             Pound Sterling Inggris         4.344.397          85.266          3.372.747              63.361         Great Britain Pound Sterling
             Euro Eropa                     4.801.220          81.805            104.380              30.893                      European Euro
             Singapura Dollar               2.758.939          32.214          2.950.598              34.206                     Singapore Dollar
             Renminbi                       1.550.357           3.364            460.499               1.031                            Renminbi

                                                             1.969.352                               932.205

           Total                                             2.203.398                              1.472.257                                Total
           Dikurangi cadangan                                                                                                   Less allowance for
            kerugian penurunan nilai                           (1.804)                                (1.747)                  impairment losses

           Neto                                              2.201.594                              1.470.510                                  Net



      b.   Berdasarkan bank                                                       b.     By bank

                                                   31 Desember/            31 Desember/
                                                 December 31, 2023       December 31, 2022

           Rupiah                                                                                                                       Rupiah
           Pihak Ketiga                                                                                                           Third Parties
           PT Bank Maybank Indonesia Tbk                   189.189                 215.125                     PT Bank Maybank Indonesia Tbk
           PT Bank Central Asia Tbk                         32.948                 263.538                           PT Bank Central Asia Tbk
           Standard Chartered Bank, Jakarta                 10.179                  46.579                    Standard Chartered Bank, Jakarta
           Citibank N.A., Jakarta                              925                     925                               Citibank N.A., Jakarta
           Lainnya                                             357                     337                                               Others

                                                           233.598                 526.504


           Pihak Berelasi (Catatan 43)                                                                               Related Parties (Note 43)
           PT Bank Syariah Indonesia Tbk                        200                     1.198                   PT Bank Syariah Indonesia Tbk
           PT Bank Negara Indonesia                                                                                 PT Bank Negara Indonesia
             (Persero) Tbk                                      183                          -                                (Persero) Tbk
           PT Bank Rakyat Indonesia                                                                                 PT Bank Rakyat Indonesia
             (Persero) Tbk                                       52                    12.350                                 (Persero) Tbk
           PT Bank Mandiri (Persero) Tbk                         13                         -                   PT Bank Mandiri (Persero) Tbk

                                                                448                    13.548




                                                                   95
Page 492
                                                                                        The original financial statements included herein are in the
                                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                        As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                  and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                            unless otherwise stated)


6. GIRO PADA BANK LAIN (lanjutan)                                                6.       CURRENT ACCOUNTS WITH OTHER BANKS
                                                                                          (continued)

   b.   Berdasarkan bank (lanjutan)                                                      b.     By bank (continued)
                                                       31 Desember/             31 Desember/
                                                     December 31, 2023        December 31, 2022


        Mata uang asing                                                                                                                Foreign currencies
        Pihak Ketiga                                                                                                                          Third Parties
        Standard Chartered Bank                                  600.159                     325.746                             Standard Chartered Bank
        PT Bank ANZ Indonesia                                    174.690                      47.307                               PT Bank ANZ Indonesia
        PT Bank Central Asia Tbk                                 108.146                      27.410                             PT Bank Central Asia Tbk
        PT Bank DBS Indonesia                                     32.214                      34.206                               PT Bank DBS Indonesia
        PT Bank ICBC Indonesia                                     3.364                       1.031                              PT Bank ICBC Indonesia
        Indonesische Overzeese                                                                                                    Indonesische Overzeese
          Bank N.V., Amsterdam                                      1.778                      1.731                              Bank N.V., Amsterdam

                                                                 920.351                     437.431

        Pihak Berelasi (Catatan 43)                                                                                            Related Parties (Note 43)
        PT Bank Negara Indonesia                                                                                              PT Bank Negara Indonesia
          (Persero) Tbk                                          901.410                     457.512                                    (Persero) Tbk
        PT Bank Mandiri (Persero) Tbk                            147.591                      37.262                       PT Bank Mandiri (Persero) Tbk

                                                                1.049.001                    494.774

        Total                                                   2.203.398                1.472.257                                                    Total
        Dikurangi cadangan kerugian                                                                                                        Less allowance
          penurunan nilai                                          (1.804)                    (1.747)                              for impairment losses

        Neto                                                    2.201.594                1.470.510                                                           Net


        Dalam giro pada bank lain termasuk giro yang                                           Current accounts with other banks include
        didasarkan pada prinsip perbankan syariah                                              current accounts based on sharia banking
        sebesar Rp200 dan Rp1.198, masing-masing                                               principles amounting to Rp200 and Rp1,198, as
        pada tanggal 31 Desember 2023 dan 2022.                                                of December 31, 2023 and 2022, respectively.

        Berikut adalah perubahan giro pada bank lain                                            Presented below is the movements in
        dengan klasifikasi biaya perolehan diamortisasi                                         amortized cost of current account with other
        untuk tahun yang berakhir pada tanggal                                                  banks for the years ended as of
        31 Desember 2023 dan 2022:                                                              December 31, 2023 and 2022, respectively:
                                                                31 Desember/December 31, 2023

                                           Stage 1          Stage 2           Stage 3           Syariah*)          Total

                                                                                                                                         Current Accounts with
          Giro pada Bank Lain                                                                                                                     Other Banks
          Saldo awal                         1.469.328                  -          1.731                1.198       1.472.257                  Beginning balance
          Pengukuran kembali bersih                                                                                                         Net remeasurement of
            nilai tercatat                     732.092                  -               47              (998)         731.141                   carrying amount
          Aset keuangan baru yang                                                                                                             New financial assets
            diterbitkan atau dibeli                   -                 -                -                  -                -          originated or purchased
          Aset keuangan yang                                                                                                               Derecognized financial
            dihentikan pengakuannya                   -                 -                -                  -                -                            assets

          Saldo akhir tahun                  2.201.420                  -          1.778                 200        2.203.398         Balance at the end of year


         *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                  *) Not applying SFAS No. 71 ”Financial Instruments”




                                                                         96
Page 493
                                                                                              The original financial statements included herein are in the
                                                                                                                                    Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                          As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                    and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                       (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                              unless otherwise stated)


6.    GIRO PADA BANK LAIN (lanjutan)                                                   6.          CURRENT ACCOUNTS WITH OTHER BANKS
                                                                                                   (continued)
      b.    Berdasarkan bank (lanjutan)                                                        c.        By bank (continued)

            Berikut adalah perubahan giro pada bank lain                                                 Presented below is the movements in
            dengan klasifikasi biaya perolehan diamortisasi                                              amortized cost of current account with other
            untuk tahun yang berakhir pada tanggal 31                                                    banks for the year ended as of December 31,
            Desember 2023 dan 2022 (lanjutan):                                                           2023 and 2022, respectively (continued):

                                                                  31 Desember/December 31, 2022

                                                 Stage 1            Stage 2         Stage 3              Syariah*)           Total

                                                                                                                                                   Current Accounts with
               Giro pada Bank Lain                                                                                                                          Other Banks
               Saldo awal                          1.094.220                  -          1.682                    896         1.096.798                  Beginning balance
               Pengukuran kembali bersih                                                                                                              Net remeasurement of
                 nilai tercatat                      358.406                  -               49                  302           358.757                   carrying amount
               Aset keuangan baru yang                                                                                                                  New financial assets
                 diterbitkan atau dibeli              16.702                  -                -                     -           16.702           originated or purchased

               Saldo akhir tahun                   1.469.328                  -          1.731                  1.198         1.472.257         Balance at the end of year


           *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                          *) Not applying SFAS No. 71 ”Financial Instruments”


       c. Tingkat suku bunga rata-rata per tahun untuk                                             c.     Average annual interest rates for current
          giro pada bank lain adalah sebagai berikut:                                                     accounts with other banks are as follows:

                                                             31 Desember/             31 Desember/
                                                           December 31, 2023        December 31, 2022

            Rupiah                                                       0,69%                          0,19%                                                 Rupiah
            Mata uang asing                                              0,00%                          0,00%                                      Foreign currencies

      d.    Kolektibilitas                                                                         d.     Collectibility

            Pada tanggal 31 Desember 2023 dan 2022,                                                       As of December 31, 2023 and 2022, the
            kolektibilitas giro pada bank lain adalah sebagai                                             collectibility of current accounts with other
            berikut:                                                                                      banks are as follows:

                                                             31 Desember/            31 Desember/
                                                           December 31, 2023       December 31, 2022

            Lancar                                                   2.201.620                 1.470.526                                                         Current
            Macet                                                        1.778                     1.731                                                           Loss

            Total                                                    2.203.398                 1.472.257                                                        Total
            Dikurangi cadangan kerugian                                                                                                               Less allowance
              penurunan nilai                                            (1.804)                        (1.747)                               for impairment losses

            Neto                                                     2.201.594                 1.470.510                                                               Net


       e. Pada tanggal 31 Desember 2023 dan 2022,                                                  e.     As of December 31, 2023 and 2022, there are
          tidak terdapat saldo giro pada bank lain yang                                                   no current accounts with other banks which
          digunakan sebagai agunan.                                                                       are pledged as collateral.




                                                                              97
Page 494
                                                                                                 The original financial statements included herein are in the
                                                                                                                                       Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                     PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                             As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                       and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                          (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                                 unless otherwise stated)


6.    GIRO PADA BANK LAIN (lanjutan)                                                      6.      CURRENT ACCOUNTS WITH OTHER BANKS
                                                                                                  (continued)

      f.    Perubahan cadangan kerugian penurunan nilai                                               f.     The movements in the allowance for
            giro pada bank lain adalah sebagai berikut:                                                      impairment losses on current accounts with
                                                                                                             other banks are as follows:

                                                             31 Desember/                31 Desember/
                                                           December 31, 2023           December 31, 2022

           Saldo awal tahun                                                   1.747                        1.698                          Balance at beginning of year
           Penyisihan (pemulihan)                                                                                                                      Provision (reversal)
             kerugian penurunan selama                                                                                                            for impairment losses
             tahun berjalan (Catatan 33)                                          57                          49                              during the year (Note 33)

           Saldo akhir tahun                                                  1.804                        1.747                          Balance at the end of year

           *) Termasuk selisih kurs karena penjabaran mata uang asing                                      *) Including exchange difference on translation of foreign currency



                                                                   31 Desember/December 31, 2023

                                                    Stage 1             Stage 2        Stage 3              Syariah*)           Total

                                                                                                                                                       Current Accounts with
               Giro pada Bank Lain                                                                                                                              Other Banks
               Saldo awal                                     14                  -         1.731                       2            1.747                   Beginning balance
               Pengukuran kembali bersih                                                                                                              Net remeasurement of
                 penurunan nilai                              10                                 47                     -               57                 impairment losses

               Saldo akhir tahun                              24                  -         1.778                       2            1.804          Balance at the end of year



           *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                            *) Not applying SFAS No. 71 ”Financial Instruments”

                                                                   31 Desember/December 31, 2022

                                                    Stage 1             Stage 2        Stage 3              Syariah*)           Total

                                                                                                                                                       Current Accounts with
               Giro pada Bank Lain                                                                                                                              Other Banks
               Saldo awal                                     14                  -         1.682                       2            1.698                   Beginning balance
               Pengukuran kembali bersih                                                                                                              Net remeasurement of
                 penurunan nilai                               -                  -              49                     -               49                 impairment losses

               Saldo akhir tahun                              14                  -         1.731                       2            1.747          Balance at the end of year



           *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                            *) Not applying SFAS No. 71 ”Financial Instruments”


            Manajemen berpendapat bahwa jumlah                                                               The management believes that the allowance
            cadangan kerugian atas giro pada bank lain                                                       for impairment losses provided on current
            yang dibentuk telah memadai.                                                                     accounts with other banks is adequate.

       g. Informasi mengenai klasifikasi aset keuangan                                                g.     Information with respect to classification of
          yang mengalami penurunan nilai dan tidak                                                           impaired and not impaired of financial assets
          mengalami penurunan nilai diungkapkan pada                                                         are disclosed in Note 46.
          Catatan 46.




                                                                                  98
Page 495
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


7.     PENEMPATAN PADA BANK INDONESIA DAN                          7.     PLACEMENTS WITH BANK INDONESIA AND
       BANK LAIN                                                          OTHER BANKS

       a. Berdasarkan mata uang dan jenis                                 a.   Based on currency and type

                                               31 Desember/         31 Desember/
                                             December 31, 2023    December 31, 2022

           Rupiah                                                                                                          Rupiah
           Pihak Ketiga                                                                                              Third Parties
           Deposit Facility Bank Indonesia          8.998.689            2.499.670                Deposit Facility Bank Indonesia
           Deposit Facility Syariah                                                                        Deposit Facility Sharia
              Bank Indonesia                        3.150.000            2.078.000                              Bank Indonesia
           Inter-bank call Money                                                                            Inter-bank call Money
           Term Deposit Bank Indonesia                      -            7.998.224                  Term Deposit Bank Indonesia
           PT Bank Pembangunan Daerah                                                             PT Bank Pembangunan Daerah
              Jawa Timur Tbk                                -              400.000                              Jawa Timur Tbk
                                                   12.148.689           12.975.894
           Pihak Berelasi (Catatan 43)                                                                   Related Party (Note 43)
           Tabungan                                                                                            Savings Deposits
             PT Bank Mandiri (Persero) Tbk                 61                    61              PT Bank Mandiri (Persero) Tbk
                                                           61                    61
           Mata uang asing                                                                                   Foreign currencies
           Pihak Ketiga                                                                                            Third Parties
           Term Deposit Bank Indonesia             18.412.372                      -                Term Deposit Bank Indonesia
                                                   18.412.372                      -
           Total                                   30.561.122           12.975.955                                           Total


          Dalam penempatan pada Bank Indonesia dan                             As of December 31, 2023 and 2022,
          bank lain termasuk penempatan yang                                   placements with Bank Indonesia and other
          didasarkan pada prinsip perbankan syariah                            banks include placements based on sharia
          sebesar Rp3.150.000 dan Rp2.078.000,                                 banking principles amounting to Rp3,150,000
          masing-masing pada tanggal 31 Desember                               and Rp2,078,000, respectively.
          2023 dan 2022.

       b. Berdasarkan sisa umur hingga jatuh tempo                        b.   Based on remaining period until maturity

                                                31 Desember/       31 Desember/
                                             December 31, 2023   December 31, 2022

           ≤ 1 bulan                               30.561.122           12.975.955                                      ≤ 1 month

           Total                                   30.561.122           12.975.955                                           Total




                                                            99
Page 496
                                                                              The original financial statements included herein are in the
                                                                                                                    Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                    PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                           NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                            As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                      and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                         (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                unless otherwise stated)


7.     PENEMPATAN PADA BANK INDONESIA DAN                                7.     PLACEMENTS WITH BANK INDONESIA AND
       BANK LAIN (lanjutan)                                                     OTHER BANKS (continued)
       c. Tingkat suku bunga rata-rata per tahun untuk                          c.      Average annual interest rates for placement
          penempatan pada Bank Indonesia dan bank                                       with Bank Indonesia and other banks:
          lain:
                                                    31 Desember/         31 Desember/
                                                 December 31, 2023    December 31, 2022

            Rupiah                                          5,23%                    3,47%                                    Rupiah
            Mata Uang Asing                                 5,24%                    0,96%                         Foreign Currencies
       d. Seluruh penempatan pada bank lain dan Bank                            d.      All placements with other banks and Bank
          Indonesia pada tanggal-tanggal 31 Desember                                    Indonesia as of December 31, 2023 and 2022,
          2023 dan 2022 diklasifikasikan sebagai lancar.                                are classified as current.
       e. Manajemen berpendapat bahwa cadangan                                  e.     Management believes no allowance for
          kerugian penurunan nilai tidak diperlukan pada                               impairment losses is required as of December
          tanggal 31 Desember 2023 dan 2022, karena                                    31, 2023 and 2022, because management
          manajemen berkeyakinan bahwa penempatan                                      believes that placements with Bank Indonesia
          pada Bank Indonesia dan bank lain dapat                                      and other banks are fully collectible.
          ditagih.
       f.   Informasi mengenai klasifikasi aset keuangan                        f.      Information with respect to classification of
            yang mengalami penurunan nilai dan tidak                                    impaired and not impaired of financial assets
            mengalami penurunan nilai diungkapkan pada                                  are disclosed in Note 46.
            Catatan 46.

8.     EFEK-EFEK                                                         8.     SECURITIES

       a. Berdasarkan tujuan, pihak berelasi dan pihak                          a.      Based on purpose, related party and third
          ketiga                                                                        party

                                                     31 Desember/       31 Desember/
                                                  December 31, 2023   December 31, 2022

            Pihak Ketiga                                                                                                    Third Parties
              Diukur pada nilai wajar
                 melalui laba rugi                       1.042.013               793.831                 Fair value through profit or loss
              Diukur pada nilai wajar melalui                                                                   Fair value through other
                 penghasilan komprehensif lain             406.144                         -                  comprehensive income
              Diukur pada biaya perolehan
                 di amortisasi                               6.611                   79.278                               Amortized cost

                                                         1.454.768               873.109

            Pihak Berelasi (Catatan 43)                                                                         Related Party (Note 43)

              Diukur pada nilai wajar melalui                                                                   Fair value through other
                penghasilan komprehensif lain            1.522.192               655.293                       comprehensive income
              Diukur pada biaya perolehan
                di amortisasi                            2.328.913               194.766                                  Amortized cost

                                                         3.851.105               850.059

              Total                                      5.305.873             1.723.168                                            Total

              Cadangan kerugian                                                                                            Allowance for
                penurunan nilai                            (22.903)                  (2.399)                         impairment losses

                Neto                                     5.282.970             1.720.769                                              Net




                                                                100
Page 497
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                         8.     SECURITIES (continued)

       b. Berdasarkan mata uang, jenis dan penerbit                        b.     Based on currency, type and issuer
                                                 31 Desember/       31 Desember/
                                              December 31, 2023   December 31, 2022


           Nilai wajar melalui laba rugi                                                        Fair value through profit or loss
           Rupiah                                                                                                        Rupiah
           Pihak Ketiga                                                                                            Third Parties
           Reksadana                                                                                              Mutual Funds
              PT Syailendra Capital                          -              100.486                     PT Syailendra Capital
              PT Berdikari Manajemen                                                                 PT Berdikari Manajemen
                 Investasi                                   -              100.470                               Investasi
              PT Batavia Prosperindo                                                                  PT Batavia Prosperindo
                 Aset Manajemen                              -              100.460                       Aset Manajemen
           Sekuritas Dollar Amerika Serikat                                                     United Stated Dollar Securities
               Bank Indonesia                          307.510                       -                       Bank Indonesia

           Sekuritas Rupiah                                                                                   Rupiah Securities
               Bank Indonesia                          194.060                       -                        Bank Indonesia

           Efek Beragun Aset                                                                           Asset Backed Securities
             KIK - SP -BTN 05                                                                         KIK EBA - SP - BTN 05
                Kelas B                                161.407              176.898                               Class B
             EBA - SP - BTN04                                                                             EBA - SP - BTN04
                Kelas B                                 88.598                  95.685                            Class B
             EBA - SP - BTN08                                                                             EBA - SP – BTN08
                Kelas B                                 75.307                       -                               Class B
             EBA - SP - BTN02                                                                             EBA - SP - BTN02
                Kelas B                                 59.833                  50.520                            Class B
             KIK - SP -BTN 07                                                                         KIK EBA - SP - BTN 07
                Kelas B                                 54.409                  52.238                            Class B
             EBA - SP - BTN06                                                                             EBA - SP - BTN06
                Kelas B                                 51.667                  64.494                            Class B
             EBA - SP - BTN03                                                                             EBA - SP - BTN03
                Kelas B                                 49.222                  52.580                            Class B

                                                     1.042.013              793.831

           Aset keuangan yang diukur pada                                                           Financial asset held at fair
           nilai wajar melalui penghasilan                                                                 value through other
           komprehensif lain                                                                           comprehensive income
           Rupiah                                                                                                       Rupiah
           Pihak Ketiga                                                                                           Third Parties
           Reksadana Terproteksi                                                                      Protected Mutual Funds
              PT Batavia Prosperindo Aset                                                       PT Batavia Prosperindo Aset
                 Manajemen                                                                                     Manajemen
                 BATAVIA MAX 51                        203.822                       -                  BATAVIA MAX 51
               PT Manulife Aset Manajemen                                                       PT Manulife Aset Manajemen
                 Indonesia                                                                                       Indonesia
                 MANULIFE PDU V                        202.322                       -                 MANULIFE PDU V


                                                       406.144                       -

           Pihak Berelasi (Catatan 43)                                                               Related Parties (Note 43)
           Obligasi                                                                                                    Bonds
             PT Perusahaan Listrik Negara                                                      PT Perusahaan Listrik Negara
                (Persero)                                                                                        (Persero)
                Sukuk Tahap II Seri B 2017              51.125                  52.424       Sukuk Phase II Series B 2017
             PT Waskita Karya (Persero) Tbk                                                  PT Waskita Karya (Persero) Tbk
                Tahap IV Seri A 2022                    49.935                  48.672            Phase IV Series A 2022
             PT Pegadaian                                                                                     PT Pegadaian
                Sukuk Mudharabah IV 2021                30.000                  30.603         Sukuk Mudharabah IV 2021
                Sukuk Mudharabah II 2022                27.745                  28.028          Sukuk Mudharabah II 2022

                                                            101
Page 498
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                        8.     SECURITIES (continued)

       b. Berdasarkan mata uang, jenis dan penerbit                       b.     Based on       currency,     type    and     issuer
          (lanjutan)                                                             (continued)
                                                31 Desember/       31 Desember/
                                             December 31, 2023   December 31, 2022
          Aset keuangan yang diukur pada                                                          Financial asset held at fair
          nilai wajar melalui penghasilan                                                                value through other
           komprehensif lain (lanjutan)                                                    comprehensive income (continued)
           Rupiah (lanjutan)                                                                                Rupiah (lanjutan)
           Pihak Berelasi (Catatan 43)                                                             Related Parties (Note 43)
           Obligasi                                                                                                   Bonds
             PT Bank Rakyat Indonesia                                                           PT Bank Rakyat Indonesia
                (Persero) Tbk                                                                              (Persero) Tbk
                Tahap II Seri D 2017                   26.373                  26.598            Phase II Series D 2017
             PT Sarana Multigriya                                                                    PT Sarana Multigriya
                Finansial (Persero)                                                                    Finansial (Persero)
                Tahap I Seri B 2021                    24.962                  24.647             Phase I Series B 2021
                Tahap II 2021                          24.656                  24.635                      Phase II 2021
             PT Bank Mandiri Taspen                                                               PT Bank Mandiri Taspen
                Tahap II Seri B 2021                   20.139                  20.108            Phase II Series B 2021
           Reksadana Terproteksi                                                                     Protected Mutual Funds
             PT Bahana TCW Investment                                                           PT Bahana TCW Investment
               Management                                                                                  Management
               Bahana Centrum Protected                                               RDT Bahana Centrum Protected
               Fund 232                               307.647                       -                         Fund 232
             PT BNI Asset Management                                                             PT BNI Asset Management
               BNI AM Proteksi Amarilis               305.072                       -      RDT BNI AM Proteksi Amarilis
             PT Danareksa Investment                                                              PT Danareksa Investment
               Management                                                                                  Management
               Danareksa Proteksi 86                  254.105                       -         RDT Danareksa Proteksi 86
           Medium Term Notes                                                                             Medium Term Notes
             Perum Perumnas                                                                                Perum Perumnas
               Tahap III Seri A 2018                  100.000              103.083                 Phase III Series A 2018

                                                    1.221.759              358.798

           Mata Uang Asing                                                                                Foreign Currencies
           Dolar Amerika Serikat                                                                         United States Dollar
           Pihak Berelasi (Catatan 43)                                                              Related Parties (Note 43)
           Obligasi                                                                                                    Bonds
             PT Bank Mandiri (Persero) Tbk                                                     PT Bank Mandiri (Persero) Tbk
                Euro Medium                                                                                   Euro Medium
                Term Notes (EMTN)-2024                 61.242                  60.977           Term Notes (EMTN)-2024
                Term Notes (EMTN)-2025                 30.565                  30.434           Term Notes (EMTN)-2025
             PT Perusahaan Gas Negara                                                            PT Perusahaan Gas Negara
                (Persero) Tbk                                                                                (Persero) Tbk
                Unsecured Fixed                        50.638                  50.944                   Unsecured Fixed
           PT Pertamina (Persero)                                                                    PT Pertamina (Persero)
                Senior Unsecured Notes                                                             Senior Unsecured Notes
                Due 2030                               28.044                  27.093                          Due 2030
                Due 2050                               38.295                  36.038                          Due 2050
             PT Pelabuhan Indonesia II                                                             PT Pelabuhan Indonesia II
                (Persero)                                                                                         (Persero)
                Senior Notes - 2025                    15.122                  15.028                Senior Notes - 2025
           Medium Term Notes                                                                             Medium Term Notes
             Lembaga Pembiayaan                                                                        Lembaga Pembiayaan
               Ekspor Indonesia                                                                           Ekspor Indonesia
               EMTN Programme                                                                          EMTN Programme
                 Indonesia Eximbank - 2017             76.527                  75.981          Indonesia Eximbank - 2017

                                                      300.433              296.495

                                                    1.522.192              655.293

                                                    1.928.336              655.293

                                                           102
Page 499
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                        8.     SECURITIES (continued)

       b. Berdasarkan mata uang, jenis dan penerbit                       b.     Based on        currency,    type    and     issuer
          (lanjutan)                                                             (continued)
                                                 31 Desember/      31 Desember/
                                             December 31, 2023   December 31, 2022

         Diukur pada biaya perolehan
         di amortisasi                                                                                         Amortized cost
           Rupiah                                                                                                      Rupiah
           Pihak Ketiga                                                                                          Third Parties
           Obligasi                                                                                                   Bonds
             PT Bank Pembangunan                                                                     PT Bank Pembangunan
                Daerah Jawa Barat dan Banten Tbk                                        Daerah Jawa Barat dan Banten Tbk
                Tahap II Seri B 2018                        -                  77.150              Phase II Series B 2018
             PT Berlian Laju Tanker                                                                  PT Berlian Laju Tanker
                Sukuk Ijarah 2007                           -                   2.000                   Sukuk Ijarah 2007
           Surat Kredit Berdokumen                                                                    Domestic Documentary
                Dalam Negeri (SKBDN)                    6.611                    128                       Letters of Credit

                                                        6.611                  79.278

           Pihak Berelasi (Catatan 43)                                                               Related Parties (Note 43)
           Obligasi                                                                                                     Bonds
             PT Bank Mandiri Taspen                                                                 PT Bank Mandiri Taspen
                Tahap II Seri A 2021                   25.076                  25.338               Phase II Series A 2021
             PT Bank Mandiri (Persero) Tbk                                                     PT Bank Mandiri (Persero) Tbk
                  Tahap III 2018                            -                   5.027                     Phases III 2018
           Medium Term Notes                                                                             Medium Term Notes
             PT Bahana Pembinaan Usaha                                                         PT Bahana Pembinaan Usaha
               Indonesia (Persero)                     50.000                  50.000                 Indonesia (Persero)
             PT Dayamitra                                                                                    PT Dayamitra
               Telekomunikasi                          50.000                       -                     Telekomunikasi
           Reksadana                                                                                            Mutual Funds
             PT Permodalan Nasional                                                                 PT Permodalan Nasional
               Madani Investment                                                                       Madani Investment
               Management                             100.000              100.000                        Management
           Sukuk                                                                                                        Sukuk
             PT Angkasa Pura I                                                                            PT Angkasa Pura I
               Tahap I 2023 (catatan 11.g)          1.465.771                       -             Phase I 2023 (note 11. g)

             Surat Kredit Berdokumen                                                                  Domestic Documentary
             Dalam Negeri (SKBDN)                     638.066                  14.401                   Letters of Credit

                                                    2.328.913              194.766

                                                    2.335.524              274.044

           Total                                    5.305.873            1.723.168                                       Total
           Cadangan kerugian                                                                                     Allowance for
             penurunan nilai                         (22.903)               (2.399)                        impairment losses

           Neto                                     5.282.970            1.720.769                                          Net




                                                           103
Page 500
                                                                                               The original financial statements included herein are in the
                                                                                                                                     Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                    PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                            As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                      and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                         (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                                unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                                              8.         SECURITIES (continued)
       b. Berdasarkan mata uang, jenis dan penerbit                                                 b.    Based on              currency,        type       and       issuer
          (lanjutan)                                                                                      (continued)
          Berikut adalah perubahan efek-efek yang                                                          Presented below is the movements in
          diukur pada nilai wajar melalui penghasilan                                                      securities at fair value through other
          komprehensif lainnya dan yang diukur pada                                                        comprehensive income and at amortized cost
          biaya perolehan diamortisasi untuk tahun yang                                                    for the years ended December 31, 2023 and
          berakhir 31 Desember 2023 dan 2022:                                                              2022:
                                                                    31 Desember/December 31, 2023

                                                Stage 1            Stage 2           Stage 3             Syariah*)           Total

             Efek-efek                                                                                                                                             Securities
             Saldo awal                             814.400                   -                 -            114.937            929.337                   Beginning balance
             Pengukuran kembali bersih                                                                                                                Net remeasurement of
               nilai tercatat                        30.357                   -                 -             (2.185)            28.172                    carrying amount
             Aset keuangan baru yang                                                                                                                    New financial assets
               diterbitkan atau dibeli            3.469.043                   -                 -                    -        3.469.043           originated or purchased
             Aset keuangan yang                                                                                                                      Derecognized financial
               dihentikan pengakuannya            (160.692)                   -                 -                   -         (160.692)                               assets
             Aset keuangan yang dihapusbuku                                                                   (2.000)           (2.000)          Writte-off financial assets

             Saldo akhir tahun                    4.153.108                   -                 -            110.752          4.263.860         Balance at the end of year


         *) Tidak menerapkan PSAK No. 71, ”Instrumen Keuangan”                                           *) Not applying SFAS No. 71, ”Financial Instruments”

                                                                    31 Desember/December 31, 2022

                                                Stage 1            Stage 2           Stage 3             Syariah*)           Total

             Efek-efek                                                                                                                                            Securities
             Saldo awal                           1.432.209                   -                 -            111.751          1.543.960                   Beginning balance
             Pengukuran kembali bersih                                                                                                                 Net remeasurement of
               nilai tercatat                     (442.631)                   -                 -                143          (442.488)                    carrying amount
             Aset keuangan baru yang                                                                                                                     New financial assets
               diterbitkan atau dibeli              761.634                   -                 -             28.176            789.810            originated or purchased
             Aset keuangan yang                                                                                                                       Derecognized financial
               dihentikan pengakuannya            (936.812)                   -                 -            (25.133)         (961.945)                              assets

             Saldo akhir tahun                      814.400                   -                 -            114.937            929.337         Balance at the end of year


         *) Tidak menerapkan PSAK No. 71, ”Instrumen Keuangan”                                           *) Not applying SFAS No. 71 ”Financial Instruments”




       c. Jatuh tempo dan suku bunga                                                                c.    Maturity and interest rate
                                                                                                             Suku Bunga/
                                                                                                               Bagi Hasil
                                                                                                               Per Tahun/
                                                                                     Tanggal                    Annual
                                                          Jenis/                  Jatuh Tempo/               Interest Rate/
                        Penerbit                          Type                    Maturity Date              Profit Sharing                          Issuer

          Rupiah                                                                                                                                              Rupiah
            PT Bank Pembangunan                                                                                                           PT Bank Pembangunan
               Jawa Barat dan Banten Tbk                                          28 September/                  9,50% tetap/          Jawa Barat dan Banten Tbk
               Tahap II 2018 B                        Obligasi/Bonds         September 28, 2023                         fixed                     Phase II 2018
             PT Berlian Laju Tanker Tbk                                                      5 Juli/            10,35% tetap/           PT Berlian Laju Tanker Tbk
               Sukuk Ijarah 2007                     Obligasi/Bonds                   July 5, 2012                      fixed                Sukuk Ijarah 2007
             Perum Perumnas                                                                                                                      Perum Perumnas
               MTN Tahap III                                                      10 Desember/                  11,85% tetap/                      MTN Phase III
                  Tahun 2018 Seri A              Medium Term Notes            December 10, 2026                         fixed               Year 2018 Series A
             PT Angkasa Pura I                                                                                                                    PT Angkasa Pura I
               Sukuk Wakalah                                                           29 Oktober/               2,25% tetap/                     Sukuk Wakalah
               Bi Al-Istitsmar 2023                  Obligasi/Bonds               October 27, 2033                      fixed                 Bi Al-Istitsmar 2023

             PT Bahana Pembinaan Usaha                                                                                               PT Bahana Pembinaan Usaha
               Indonesia (Persero)                                                 2 November/                   9,00% tetap/              Indonesia (Persero)
               MTN Tahun 2022 Seri A              Medium Term Notes            November 2, 2027                         fixed          MTN Year 2022 Series A
             PT Bank Rakyat Indonesia                                                                                                     PT Bank Rakyat Indonesia
               (Persero) Tbk                                                               11 April/             8,80% tetap/                       (Persero) Tbk
               Tahap II Seri D 2017                  Obligasi/Bonds                  April 11, 2027                     fixed             Phase II Series D 2017



                                                                              104
Page 501
                                                                               The original financial statements included herein are in the
                                                                                                                     Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                     PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                            NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                             As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                       and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                          (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                 unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                               8.      SECURITIES (continued)

       c. Jatuh tempo dan suku bunga (lanjutan)                                   c. Maturity and interest rate (continued)

                                                                                         Suku Bunga/
                                                                                           Bagi Hasil
                                                                                           Per Tahun/
                                                                     Tanggal                Annual
                                                 Jenis/           Jatuh Tempo/           Interest Rate/
                      Penerbit                   Type             Maturity Date          Profit Sharing                   Issuer

          Rupiah                                                                                                                       Rupiah
            PT Bank Mandiri                                                                                              PT Bank Mandiri
               (Persero) Tbk                                         21 September/          8,50% tetap/                  (Persero) Tbk
               Tahap III 2018                  Obligasi/Bonds   September 21, 2023                 fixed                 Phase III 2018

            PT Sarana Multigriya                                                                                     PT Sarana Multigriya
              Finansial (Persero)                                   17 November/            6,00% tetap/              Finansial (Persero)
              Tahap II 2021                    Obligasi/Bonds   November 17, 2026                  fixed                 Phase II 2021
                                                                             8 Juli/        6,40% tetap/
               Tahap I Seri B 2021             Obligasi/Bonds         July 8, 2026                 fixed          Phase I Series B 2021

            PT Bank Mandiri Taspen                                          28 April/       6,50% tetap/          PT Bank Mandiri Taspen
              Tahap II Seri A 2021             Obligasi/Bonds         April 28, 2024               fixed         Phase II Series A 2021
                                                                            26 April/       7,25% tetap/
               Tahap II Seri B 2021            Obligasi/Bonds         April 26, 2026               fixed         Phase II Series B 2021

            PT Perusahaan Listrik Negara                                                                     PT Perusahaan Listrik Negara
              (Persero)                                              3 November/            8,20% tetap/                       (Persero)
              Sukuk Tahap II Seri B 2017       Obligasi/Bonds    November 3, 2027                  fixed    Sukuk Phase II Series B 2017

            PT Waskita Karya Realty                                        12 Mei/          6,65% tetap/          PT Waskita Karya Realty
              Seri A 2022                      Obligasi/Bonds         May 12, 2027                 fixed                Series A 2022

            PT Pegadaian                                                                                                  PT Pegadaian
              (Persero)                                                     6 April/        6,00% tetap/                    (Persero)
              Sukuk Mudharabah IV 2021         Obligasi/Bonds         April 6, 2024                fixed     Sukuk Mudharabah IV 2021
                                                                       16 Agustus/          5,75% tetap/
               Sukuk Mudharabah II 2022        Obligasi/Bonds      August 16, 2025                 fixed      Sukuk Mudharabah II 2022

            PT Dayamitra                                                                                                  PT Dayamitra
              Telekomunikasi Tbk                                        6 Oktober/          6,20% tetap/            Telekomunikasi Tbk
              MTN Tahun 2023                Medium Term Notes      October 6, 2024                 fixed            MTN Tahun 2023

          Mata Uang Asing                                                                                                 Foreign Currencies
          Dolar Amerika Serikat                                                                                          United States Dollar
            Lembaga Pembiayaan                                                                                    Lembaga Pembiayaan
                Ekspor Indonesia                                                                                     Ekspor Indonesia
                EMTN Programme Indonesia                                     6 April/       3,88% tetap/      EMTN Programme Indonesia
                  Eximbank - 2017           Medium Term Notes          April 6, 2024               fixed           Eximbank - 2017
            PT Perusahaan Gas Negara                                                                                  PT Perusahaan Gas
              (Persero) Tbk                                                                                        Negara (Persero) Tbk
              Unsecured Fixed                                              16 Mei/           5,13% tetap/              Unsecured Fixed
              Rate Notes                       Obligasi/Bonds         May 16, 2024                  fixed                   Rate Notes

            PT Bank Mandiri (Persero) Tbk                                                                   PT Bank Mandiri (Persero) Tbk
              Euro Medium                                                    11 April/      3,75% tetap/                  Euro Medium
              Term Notes (EMTN) - 2024         Obligasi/Bonds         April 11, 2024                fixed    Term Notes (EMTN) - 2024
                                                                              13 Mei/       4,75% tetap/
               Term Notes (EMTN) - 2025        Obligasi/Bonds         May 13, 2025                 fixed      Term Notes (EMTN) - 2025
            PT Pertamina (Persero)                                                                                 PT Pertamina (Persero)
              Senior Unsecured                                          21 Januari/         3,10% tetap/              Senior Unsecured
              Notes Due 2030                   Obligasi/Bonds     January 21, 2030                 fixed             Notes Due 2030
              Senior Unsecured                                          21 Januari/         4,18% tetap/              Senior Unsecured
              Notes Due 2050                  Obligasi/Bonds      January 21, 2050                 fixed             Notes Due 2050

            PT Pelabuhan Indonesia II                                                                           PT Pelabuhan Indonesia II
              (Persero)                                                                                                      (Persero)
              Senior Unsecured                                               5 Mei/         4,25% tetap/           Senior Unsecured
              Notes Due 2025                  Obligasi/Bonds           May 5, 2025               fixed              Notes Due 2025




                                                                105
Page 502
                                                                                             The original financial statements included herein are in the
                                                                                                                                   Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                           unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                                         8.         SECURITIES (continued)

       d. Berdasarkan sisa umur hingga jatuh tempo                                            d. Remaining period to maturity (amortized cost
          (efek-efek yang diukur pada biaya perolehan di                                         securities)
          amortisasi)
                                                                31 Desember/       31 Desember/
                                                             December 31, 2023    December 31, 2022

            ≤ 1 tahun                                                  448.505                        96.706                                               ≤ 1 year
            > 1 tahun ≤ 5 tahun                                        421.248                       175.338                                     > 1 year ≤ 5 years
            > 5 tahun ≤ 10 tahun                                     1.465.771                             -                                    > 5 year ≤ 10 years
            > 10 tahun                                                       -                         2.000                                             > 10 years

            Total                                                    2.335.524                       274.044                                                  Total

       e. Peringkat                                                                            e.      Rating

           Daftar peringkat efek-efek seperti yang                                                     The ratings of securities, as reported by
           dilaporkan oleh PT Pemeringkat Efek Indonesia                                               PT Pemeringkat Efek Indonesia, are as
           adalah sebagai berikut:                                                                     follows:
                                                    Jenis/            31 Desember/               31 Desember/
                    Penerbit                        Type            December 31, 2023          December 31, 2022                                Issuer

         PT Bank Pembangunan                                                                                                               PT Bank Pembangunan
             Jawa Barat dan Banten Tbk                                                                                                  Jawa Barat dan Banten Tbk
           Tahap II 2018 B                         Obligasi/Bonds                        -                       idAA                             Phase II 2018

         PT Bank Mandiri (Persero) Tbk                                                                                               PT Bank Mandiri (Persero) Tbk
           Tahap III 2018                         Obligasi/Bonds                         -                     idAAA                              Phase III 2018
           Euro Medium                                                                                                                             Euro Medium
           Term Notes (EMTN) - 2024               Obligasi/Bonds                 Baa2*)                        Baa2*)                 Term Notes (EMTN) - 2024
           Term Notes (EMTN) - 2025               Obligasi/Bonds                 Baa2*)                        Baa2*)                 Term Notes (EMTN) - 2025
         PT Bank Mandiri Taspen                                                                                                            PT Bank Mandiri Taspen
           Tahap II Seri A 2021                   Obligasi/Bonds                   AA**)                         AA**)                     Phase II Series A 2021
           Tahap II Seri B 2021                   Obligasi/Bonds                   AA**)                         AA**)                     Phase II Series B 2021

         PT Sarana Multigriya Finansial                                                                                              PT Sarana Multigriya Finansial
           (Persero)                                                                                                                                   (Persero)
           Tahap II 2021                          Obligasi/Bonds                 idAAA                         idAAA                              Phase II 2021
           Tahap I Seri B 2021                    Obligasi/Bonds                 idAAA                         idAAA                      Phase I Series B 2021
         PT Perusahaan Gas Negara                                                                                                      PT Perusahaan Gas Negara
           (Persero) Tbk                                                                                                                          (Persero) Tbk
           Unsecured Fixed                                                                                                                     Unsecured Fixed
           Term Notes (EMTN) - 2024               Obligasi/Bonds                 Baa2*)                        Baa2*)                 Term Notes (EMTN) - 2024
         PT Pertamina (Persero)                                                                                                            PT Pertamina (Persero)
           Unsecured Fixed                                                                                                                     Unsecured Fixed
           Term Notes (EMTN) - 2030               Obligasi/Bonds                 Baa2*)                        Baa2*)                 Term Notes (EMTN) - 2030
           Term Notes (EMTN) - 2050               Obligasi/Bonds                 Baa2*)                        Baa2*)                 Term Notes (EMTN) - 2050
         Perum Perumnas                                                                                                                              Perum Perumnas
            MTN Tahap III                                                                                                                            MTN Phase III
              Tahun 2018 Seri A                 Medium Term Notes                idBBB-                        idBBB-                          Year 2018 Series A

         PT Dayamitra Telekomunikasi                                                                                                  PT Dayamitra Telekomunikasi
            MTN Tahap I                                                                                                                            MTN Phase I
              Tahun 2023                        Medium Term Notes                idAAA                                -                             Year 2023
         PT Bahana Pembinaan Usaha                                                                                                   PT Bahana Pembinaan Usaha
             Indonesia (Persero)                                                                                                            Indonesia (Persero)
              MTN Tahun 2022                    Medium Term Notes                idAAA                         idAAA                          MTN Year 2022

         Lembaga Pembiayaan                                                                                                                Lembaga Pembiayaan
           Ekspor Indonesia                                                                                                                   Ekspor Indonesia
            Euro Medium                                                                                                                           Euro Medium
           Term Notes (EMTN) - 2017               Obligasi/Bonds                 Baa2*)                         Baa2*)               Term Notes (EMTN) – 2017
         PT Waskita Karya (Persero) Tbk                                                                                            PT Waskita Karya (Persero) Tbk
           Seri A 2022                            Obligasi/Bonds                 idAAA(gg)                 idAAA(gg)                             Series A 2022

         *) Berdasarkan peringkat yang diterbitkan oleh Moody’s                                     *) Based on ratings published by Moody’s
         **) Berdasarkan peringkat yang diterbitkan oleh Fitch                                      **) Based on ratings published by Fitch




                                                                          106
Page 503
                                                                                                The original financial statements included herein are in the
                                                                                                                                      Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                    PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                            As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                      and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                         (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                                unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                                              8.       SECURITIES (continued)
       e. Peringkat (lanjutan)                                                                    e.      Rating (continued)
              Daftar peringkat efek-efek seperti yang                                                     The ratings of securities, as reported by
              dilaporkan oleh PT Pemeringkat Efek Indonesia                                               PT Pemeringkat Efek Indonesia, are as
              adalah sebagai berikut: (lanjutan)                                                          follows: (continued)

                                                       Jenis/             31 Desember/              31 Desember/
                      Penerbit                         Type             December 31, 2023         December 31, 2022                               Issuer

            PT Pelabuhan Indonesia II                                                                                                        PT Pelabuhan Indonesia II
              (Persero)                                                                                                                                  (Persero)
              Senior Unsecured                                                                                                                   Senior Unsecured
              Notes Due 2025                         Obligasi/Bonds                    Baa2*)                     Baa3*)                          Notes Due 2025

            PT Bank Rakyat Indonesia                                                                                                        PT Bank Rakyat Indonesia
              (Persero) Tbk                                                                                                                           (Persero) Tbk
              Tahap II Seri D 2017                   Obligasi/Bonds                    idAAA                      idAAA                      Phase II Series D 2017
            PT Pelabuhan Indonesia II                                                                                                        PT Pelabuhan Indonesia II
              (Persero)                                                                                                                                  (Persero)
              Senior Unsecured                                                                                                                   Senior Unsecured
              Notes Due 2025                         Obligasi/Bonds                    Baa2*)                     Baa3*)                          Notes Due 2025
            PT Perusahaan Listrik                                                                                                              PT Perusahaan Listrik
              Negara (Persero)                                                                                                                   Negara (Persero)
              Sukuk Tahap II 2017 Seri B             Obligasi/Bonds                 idAAA(sy)                 idAAA(sy)               Sukuk Phase II 2017 Series B
            PT Angkasa Pura I                                                                                                                        PT Angkasa Pura I
              Sukuk Tahap I 2023                     Obligasi/Bonds                 idAA+(sy)                 -                                   Sukuk Phase I 2023

            PT Pegadaian (Persero)                                                                                                           PT Pegadaian (Persero)
              Sukuk Mudharabah IV 2021               Obligasi/Bonds                 idAAA(Sy)                 idAAA(Sy)                 Sukuk Mudharabah IV 2021
              Sukuk Mudharabah II 2022               Obligasi/Bonds                 idAAA(Sy)                 idAAA(Sy)                 Sukuk Mudharabah II 2022
            *) Berdasarkan peringkat yang diterbitkan oleh Moody’s                                     *) Based on ratings published by Moody’s
            **) Berdasarkan peringkat yang diterbitkan oleh Fitch                                      **) Based on ratings published by Fitch


       f.     Kolektibilitas                                                                     f.      Collectibility

              Kolektibilitas efek-efek adalah sebagai berikut:                                            The collectibility of securities are as follows:

                                                                  31 Desember/          31 Desember/
                                                                December 31, 2023     December 31, 2022

              Lancar                                                    5.199.375                 1.628.411                                                        Current
              Dalam Perhatian Khusus                                       50.695                    36.675                                                Special Mention
              Kurang Lancar                                                 4.644                     3.148                                                  Substandard
              Diragukan                                                     5.769                     5.436                                                       Doubtful
              Macet                                                        45.390                    49.498                                                          Loss

              Total                                                     5.305.873                 1.723.168                                                        Total
              Cadangan kerugian                                                                                                                            Allowance for
                penurunan nilai                                          (22.903)                      (2.399)                                      impairment losses

            Neto                                                        5.282.970                 1.720.769                                                           Net




                                                                              107
Page 504
                                                                                             The original financial statements included herein are in the
                                                                                                                                   Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                         As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                                   and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                                      (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                             unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                                           8.          SECURITIES (continued)

      g.    Perubahan cadangan kerugian penurunan nilai                                       g.    The movements in the allowance                                      for
            adalah sebagai berikut:                                                                 impairment losses are as follows:
                                                                    31 Desember/December 31, 2023

                                                  Stage 1          Stage 2         Stage 3           Syariah*)          Total

               Efek-efek yang diukur pada nilai                                                                                                           Securities at
                 wajar melalui penghasilan                                                                                                 fair value through other
                 komprehensif lainnya                                                                                                       comprehensive income
               Saldo awal                              51.959                -                -                  -          51.959                   Beginning balance
               Pengukuran kembali bersih                                                                                                         Net remeasurement of
                 penurunan nilai                        4.902                -                -                  -           4.902                 impairment losses
               Aset keuangan baru yang                                                                                                             New financial assets
                 diterbitkan atau dibeli                    790              -                -                  -              790            originated or purchased
               Aset keuangan yang                                                                                                               Derecognized financial
                 dihentikan pengakuannya              (3.618)                -                -                  -          (3.618)                            assets
               Pembayaran kembali valuta asing                                                                                            Repayment foreign exchange
                 dan perubahan lain                     5.924                -                -                  -           5.924              and other movement

               Saldo akhir tahun                       59.957                -                -                  -          59.957         Balance at the end of year



                                                                    31 Desember/December 31, 2022

                                                  Stage 1          Stage 2         Stage 3           Syariah*)          Total

               Efek-efek yang diukur pada nilai                                                                                                           Securities at
                 wajar melalui penghasilan                                                                                                 fair value through other
                 komprehensif lainnya                                                                                                       comprehensive income
               Saldo awal                              71.617                -                -                  -          71.617                   Beginning balance
               Pengukuran kembali bersih                                                                                                         Net remeasurement of
                 penurunan nilai                     (20.889)                -                -                  -         (20.889)                impairment losses
               Aset keuangan baru yang                                                                                                             New financial assets
                 diterbitkan atau dibeli                    238              -                -                  -              238            originated or purchased
               Aset keuangan yang                                                                                                               Derecognized financial
                 dihentikan pengakuannya               (3.088 )              -                -                  -          (3.088)                            assets
               Pembayaran kembali valuta asing                                                                                            Repayment foreign exchange
                 dan perubahan lain                     4.081                -                -                  -           4.081              and other movement

               Saldo akhir tahun                       51.959                -                -                  -          51.959         Balance at the end of year


           *) Tidak menerapkan PSAK No. 71, ”Instrumen Keuangan”                                    *) Not applying SFAS No. 71, ”Financial Instruments”

                                                                    31 Desember/December 31, 2023

                                                  Stage 1          Stage 2         Stage 3           Syariah*)          Total

               Efek-efek yang diukur pada biaya                                                                                                            Securities at
                 perolehan diamortisasi                                                                                                                amortized cost
               Saldo awal                                   399              -                -            2.000             2.399                   Beginning balance
               Pengukuran kembali bersih                                                                                                          Net remeasurement of
                  penurunan nilai                      22.135                -                -                  -          22.135                 Impairment losses
               Aset keuangan baru yang                                                                                                              New financial assets
                 diterbitkan atau dibeli                    369              -                -                  -              369          originated or purchased
               Aset keuangan yang                                                                                                                     Writte off financial
                 dihapusbuku                                  -              -                -          (2.000)            (2.000)                            assets

               Saldo akhir tahun                       22.903                -                -                  -          22.903         Balance at the end of year



                                                                    31 Desember/December 31, 2022

                                                  Stage 1          Stage 2         Stage 3           Syariah*)          Total

               Efek-efek yang diukur pada biaya                                                                                                           Securities at
                 perolehan diamortisasi                                                                                                               amortized cost
               Saldo awal                                     -              -                -            2.000             2.000                   Beginning balance
               Aset keuangan baru yang                                                                                                             New financial assets
                 diterbitkan atau dibeli                    399              -                -                  -              399          originated or purchased

               Saldo akhir tahun                            399              -                -            2.000             2.399         Balance at the end of year



           *) Tidak menerapkan PSAK No. 71, ”Instrumen Keuangan”                                    *) Not applying SFAS No. 71, ”Financial Instruments”


       h. Manajemen berpendapat bahwa jumlah                                                   h. Management believes that the allowance for
          cadangan kerugian penurunan nilai efek-efek                                             impairment losses provided on securities is
          yang dibentuk telah memadai.                                                            adequate.

                                                                             108
Page 505
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                   and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                             unless otherwise stated)


8.     EFEK-EFEK (lanjutan)                                           8.     SECURITIES (continued)

       i.   Bank mengakui keuntungan (kerugian) bersih                       i.   The Bank recognized net gain (loss) on sale of
            atas penjualan efek-efek masing-masing                                securities amounting to Rp6,669 and
            sebesar Rp6.669 dan Rp(234.089), masing-                              Rp(234,089), for the year ended December 31,
            masing untuk tahun yang berakhir pada tanggal                         2023 and 2022, respectively, which is
            31 Desember 2023 dan 2022 yang disajikan                              presented in the statement of profit or loss and
            dalam akun “Keuntungan (kerugian) dari                                other comprehensive income as “Gain (losses)
            penjualan efek-efek - neto” di laporan laba rugi                      on sale of securities - net”.
            dan penghasilan komprehensif lain.

       j.   Nilai pasar efek-efek yang diklasifikasikan                      j.    As of December 31, 2023 and 2022, the
            sebagai “Nilai Wajar melalui Laba Rugi dan                             market values of securities classified as fair
            Aset Keuangan yang Diukur pada Nilai Wajar                             value through profit or loss and Fair Value
            Melalui Penghasilan Komprehensif lain” pada                            Through Other Comprehensive Income of
            tanggal 31 Desember 2023 dan 2022, masing-                             nominal amounts range from 82.91% to
            masing berkisar dari 82,91% sampai dengan                              105.49% and range from 77.16% to 125.88%
            105,49% dan 77,16% sampai dengan 125,88%.                              respectively.

       k. Bank mengakui keuntungan yang belum                                k.    The Bank recognized unrealized gain - net
          direalisasi bersih (setelah pajak tangguhan)                             (after deferred tax) of Rp67,906 and Rp35,792
          sebesar Rp67.906 dan Rp35.792 dari                                       from the changes in fair values through other
          perubahan nilai wajar efek-efek diukur pada                              comprehensive income include allowance for
          nilai wajar melalui penghasilan komprehensif                             impairment losses amounted Rp59,957 and
          lain termasuk cadangan kerugian penurunan                                Rp51,959 as of December 31, 2023 and 2022,
          nilai sebesar Rp59.957 dan Rp51.959 masing-                              respectively, which are presented as
          masing pada posisi 31 Desember 2023 dan                                  unrealized gain (loss) on securities and
          2022 dalam akun keuntungan yang belum                                    government bonds, net of deferred tax in the
          direalisasi atas efek-efek dan obligasi                                  statement of financial position.
          pemerintah setelah pajak tangguhan dalam
          laporan posisi keuangan.

        l. Terdapat investasi efek-efek dengan pihak-                        l. As of December 31, 2023 and 2022,
           pihak berelasi sebesar Rp3.851.105 dan                               investments in securities with related parties
           Rp850.059, masing-masing pada tanggal                                amounted to Rp3,851,105 and Rp850,059,
           31 Desember 2023 dan 2022 (Catatan 43).                              respectively (Note 43).

        m. Informasi mengenai klasifikasi aset keuangan                      m. Information with respect to classification of
           yang mengalami penurunan nilai dan tidak                             impaired and not impaired financial assets are
           mengalami penurunan nilai diungkapkan pada                           disclosed in Note 46.
           Catatan 46.


9.     OBLIGASI PEMERINTAH                                            9.     GOVERNMENT BONDS

       a. Berdasarkan tujuan, pihak berelasi dan pihak                       a.    Based on purpose, related party and third
          ketiga                                                                   party
                                                31 Desember/           31 Desember/
                                              December 31, 2023      December 31, 2022

            Pihak Berelasi (Catatan 43)                                                                      Related Party (Note 43)
            Diukur pada nilai wajar
              melalui laba rugi                      3.796.440             19.591.199                 Fair value through profit or loss
            Diukur pada nilai wajar melalui                                                                   Fair value through other
              penghasilan komprehensif lain         12.511.991             14.332.949                        comprehensive income
            Diukur pada biaya perolehan
              amortisasi                            19.585.498             18.040.825                                  Amortized cost

            Total                                   35.893.929             51.964.973                                            Total




                                                               109
Page 506
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                       unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                           9.     GOVERNMENT BONDS (continued)

       b. Berdasarkan mata uang dan jenis                              b.    Based on currency and type
                                             31 Desember/        31 Desember/
                                           December 31, 2023   December 31, 2022

           Pihak berelasi                                                                                          Related parties
           Nilai wajar melalui laba rugi                                                            Fair value through profit or loss
              Rupiah                                                                                                      Rupiah
              Tingkat bunga tetap                                                                              Fixed interest rate
                  FR 0081                            201.564                     -                                    FR 0081
                  FR 0086                            170.509                     -                                    FR 0086
                  FR 0075                            156.057                   206                                    FR 0075
                  FR 0092                             93.940                16.136                                    FR 0092
                  FR 0084                             59.682                20.526                                    FR 0084
                  FR 0070                             43.057                     -                                    FR 0070
                  FR 0098                             41.970                     -                                    FR 0098
                  FR 0097                             36.310                   701                                    FR 0097
                  FR 0101                             30.504                     -                                    FR 0101
                  FR 0079                             28.757                     -                                    FR 0079
                  FR 0072                             22.568                23.366                                    FR 0072
                  ORI 021                             20.894                   496                                    ORI 021
                  FR 0096                             20.814                52.743                                    FR 0096
                  FR 0091                             19.791                73.201                                    FR 0091
                  PBS 033                             19.214                     -                                   PBS 033
                  FR 0095                             15.771                70.191                                    FR 0095
                  PBS 036                             14.105                     -                                   PBS 036
                  ORI 020                             11.647                     -                                    ORI 020
                  ORI 022                             11.436                     -                                    ORI 022
                  FR 0074                             10.588                   207                                    FR 0074
                  FR 0083                              9.723                11.643                                    FR 0083
                  FR 0089                              7.399                     -                                    FR 0089
                  FR 0059                              7.119                     -                                    FR 0059
                  FR 0090                              7.044                33.017                                    FR 0090
                  SR 0016                              5.486                     -                                   SR 0016
                  FR 0073                              3.141                     -                                    FR 0073
                  FR 0044                              3.073                     -                                    FR 0044
                  FR 0093                              2.438                   290                                    FR 0093
                  FR 0088                              1.455                    65                                    FR 0088
                  PBS 026                              1.000                     -                                   PBS 026
                  SR 0014                                618                    80                                   SR 0014
                  FR 0076                                211                     -                                    FR 0076
                  FR 0062                                196                     -                                    FR 0062
                  FR 0071                                  -                88.494                                    FR 0071
                  FR 0040                                  -                55.701                                    FR 0040
                  FR 0068                                  -                54.890                                    FR 0068
                  PBS 017                                  -                51.220                                   PBS 017
                  FR 0046                                  -                46.040                                    FR 0046
                  FR 0080                                  -                41.472                                    FR 0080
                  ORI 018                                  -                40.110                                    ORI 018
                  FR 0087                                  -                30.396                                    FR 0087
                  FR 0064                                  -                10.370                                    FR 0064
                  FR 0078                                  -                 9.002                                    FR 0078
                  ORI 019                                  -                 2.087                                    ORI 019
                  SR 0017                                  -                   198                                   SR 0017
                  SR 0015                                  -                   191                                   SR 0015
                  FR 0085                                  -                   187                                    FR 0085
                  FR 0065                                  -                    97                                    FR 0065
                  ORI 017                                  -                    70                                    ORI 017
                  SR 0012                                  -                    50                                   SR 0012

                                                   1.078.081             733.443




                                                         110
Page 507
                                                                                The original financial statements included herein are in the
                                                                                                                      Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                      PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                              As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                        and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                           (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                  unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                                      9.     GOVERNMENT BONDS (continued)

       b. Berdasarkan mata uang dan jenis (lanjutan)                              b.    Based on currency and type (continued)
                                                        31 Desember/        31 Desember/
                                                      December 31, 2023   December 31, 2022

           Pihak berelasi (lanjutan)                                                                               Related parties (continued)
           Nilai wajar melalui laba rugi (lanjutan)                                                 Fair value through profit or loss (continued)
              Mata uang asing                                                                                                Foreign Currencies
              Dolar Amerika Serikat                                                                                      United States Dollar
              Tingkat bunga tetap                                                                                          Fixed interest rate
                  INDOIS 2024                                     2.379                     -                                  INDOIS 2024
                  INDOIS 2031                                         -                18.773                                  INDOIS 2031
                  INDON 2024N                                         -                   609                                 INDON 2024N

              Zero Coupon Bonds                                                                                        Zero Coupon Bonds
                 SPN12240201                                  1.367.851                   -                                SPN12240201
                 SPN12240229                                    746.378                   -                                SPN12240229
                 SPN12240104                                    577.100                   -                                SPN12240104
                 SPN03240313                                     24.651                   -                                SPN03240313
                 SPN12230303                                          -           3.334.531                                SPN12230303
                 SPN12230203                                          -           2.779.061                                SPN12230203
                 SPN12230105                                          -           2.061.001                                SPN12230105
                 SPN12230413                                          -           1.744.737                                SPN12230413
                 SPN12230526                                          -           1.494.707                                SPN12230526
                 SPN12230330                                          -           1.284.484                                SPN12230330
                 SPN12230622                                          -           1.220.975                                SPN12230622
                 SPN03230208                                          -             760.534                                SPN03230208
                 SPN12230818                                          -             750.789                                SPN12230818
                 SPN12230914                                          -             723.728                                SPN12230914
                 SPN03230222                                          -             496.595                                SPN03230222
                 SPNS02052023                                         -             473.497                              SPNS02052023
                 SPNS07032023                                         -             421.154                              SPNS07032023
                 SPN03230111                                          -             349.606                                SPN03230111
                 SPNS10012023                                         -             299.754                              SPNS10012023
                 SPN12231207                                          -             224.643                                SPN12231207
                 SPN03230308                                          -              99.130                                SPN03230308
                 SPN12230720                                          -              97.296                                SPN12230720
                 SPN12231012                                          -              96.027                                SPN12231012
                 SPN12231109                                          -              95.755                                SPN12231109
                 SPNS07022023                                         -              49.752                              SPNS07022023

                                                              2.715.980          18.857.756

                                                              3.796.440          19.591.199



          Aset keuangan yang diukur pada                                                                             Financial asset held at fair
          nilai wajar melalui penghasilan                                                                                value through other
          komprehensif lain                                                                                          comprehensive income
                Rupiah                                                                                                              Rupiah
                Tingkat bunga tetap                                                                                      Fixed interest rate
                   FR 0083                                      540.390           1.360.887                                      FR 0083
                   FR 0078                                      490.381             490.508                                      FR 0078
                   FR 0084                                      482.823             489.041                                      FR 0084
                   FR 0090                                      472.787             470.978                                      FR 0090
                   FR 0042                                      425.627             435.458                                      FR 0042
                   FR 0056                                      419.566             427.016                                      FR 0056
                   FR 0040                                      375.507             389.801                                      FR 0040
                   FR 0071                                      348.849             350.602                                      FR 0071
                   FR 0059                                      320.355             323.036                                      FR 0059
                   FR 0081                                      270.087             272.327                                      FR 0081




                                                                    111
Page 508
                                                                              The original financial statements included herein are in the
                                                                                                                    Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                    PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                           NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                            As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                      and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                         (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                                    9.     GOVERNMENT BONDS (continued)
       b. Berdasarkan mata uang dan jenis (lanjutan)                            b.   Based on currency and type (continued)
                                                   31 Desember/         31 Desember/
                                                 December 31, 2023    December 31, 2022

          Aset keuangan yang diukur pada                                                                          Financial asset held at fair
          nilai wajar melalui penghasilan                                                                             value through other
          komprehensif lain (lanjutan)                                                                 comprehensive income (continued)
                Rupiah (lanjutan)                                                                                    Rupiah (continued)
                Tingkat bunga tetap (lanjutan)                                                            Fixed interest rate (continued)
                 FR 0087                                   269.194                263.695                                      FR 0087
                 FR 0091                                   250.102                243.430                                      FR 0091
                 FR 0044                                   233.128                241.971                                      FR 0044
                 FR 0052                                   203.717                205.584                                      FR 0052
                 FR 0073                                   142.338                140.750                                      FR 0073
                 FR 0037                                   125.128                129.092                                      FR 0037
                 FR 0077                                   122.766                129.035                                      FR 0077
                 FR 0082                                    51.174                156.466                                      FR 0082
                 FR 0054                                         -                 47.085                                      FR 0054
                 FR 0068                                         -                567.123                                      FR 0068
                 FR 0072                                         -                369.052                                      FR 0072
                 FR 0075                                         -                188.673                                      FR 0075
                 FR 0039                                         -                171.841                                      FR 0039
                 FR 0046                                         -                102.310                                      FR 0046
                 FR 0085                                         -                 57.797                                      FR 0085
                 FR 0062                                         -                 57.785                                      FR 0062

                                                          5.543.919             8.081.343

              Obligasi Syariah Negara                                                                            Government Sharia Bond
                PBSG 001                                   542.139                  4.199                                   PBSG 001
                PBS 003                                    338.469                191.598                                    PBS 003
                PBS 017                                    303.279                308.382                                    PBS 017
                PBS 030                                    276.560                273.796                                    PBS 030
                PBS 026                                    253.450                254.920                                    PBS 026
                PBS 037                                    250.434                      -                                    PBS 037
                PBS 032                                    193.968                194.051                                    PBS 032
                PBS 033                                    156.676                 32.921                                    PBS 033
                PBS 025                                    106.808                105.392                                    PBS 025
                PBS 029                                    102.918                101.669                                    PBS 029
                PBS 038                                     99.621                      -                                    PBS 038
                PBS 022                                     78.965                 79.275                                    PBS 022
                PBS 028                                     73.878                 71.208                                    PBS 028
                PBS 021                                     68.795                 71.851                                    PBS 021
                PBS 012                                     59.863                 59.124                                    PBS 012
                PBS 004                                     46.542                 45.960                                    PBS 004
                PBS 034                                     34.736                 32.610                                    PBS 034
                PBS 027                                          -                479.969                                    PBS 027
                PBS 019                                          -                104.917                                    PBS 019
                PBS 011                                          -                  8.209                                    PBS 011

                                                          2.987.101             2.420.051


           Mata uang asing                                                                                               Foreign Currencies
             Dolar Amerika Serikat                                                                                    United States Dollar
             Tingkat bunga tetap                                                                                       Fixed interest rate
                INDON 2047                                 825.805                775.119                                  INDON 2047
                INDON 2046                                 579.496                544.954                                   INDON 2046
                INDON 2038                                 545.560                516.227                                   INDON 2038
                INDON 2044                                 413.980                383.132                                   INDON 2044
                INDON 2043                                 383.217                361.545                                   INDON 2043
                INDON 2045                                 338.525                365.197                                   INDON 2045
                INDON 2048                                 215.720                203.418                                   INDON 2048
                INDON 2049                                 171.050                158.781                                   INDON 2049
                INDOIS 2050                                134.838                127.609                                  INDOIS 2050
                INDON 2049N                                112.072                116.540                                 INDON 2049N
                INDON 2037                                 102.953                127.775                                   INDON 2037
                INDON 2050N                                 97.039                 90.032                                 INDON 2050N
                USDFR0002                                   60.716                 61.226                                   USDFR0002

                                                          3.980.971             3.831.555
                                                         12.511.991            14.332.949



                                                                112
Page 509
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                        unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                            9.     GOVERNMENT BONDS (continued)

       b. Berdasarkan mata uang dan jenis (lanjutan)                    b.   Based on currency and type (continued)
                                            31 Desember/         31 Desember/
                                          December 31, 2023    December 31, 2022

           Diukur pada biaya
           perolehan amortisasi                                                                                     Amortized cost
              Rupiah                                                                                                      Rupiah
              Tingkat bunga tetap                                                                              Fixed interest rate
                 FR 0081                          1.452.798             1.457.898                                     FR 0081
                 FR 0084                          1.212.730             1.231.951                                     FR 0084
                 FR 0086                          1.138.797             1.137.564                                     FR 0086
                 FR 0056                          1.126.953             1.048.174                                     FR 0056
                 FR 0059                            923.741               442.347                                     FR 0059
                 FR 0064                            900.859               835.184                                     FR 0064
                 FR 0047                            784.201               804.972                                     FR 0047
                 FR 0070                            431.886               440.831                                     FR 0070
                 FR 0085                            403.858               405.264                                     FR 0085
                 FR 0078                            336.975               340.917                                     FR 0078
                 FR 0044                            288.687               300.342                                     FR 0044
                 FR 0040                            272.759               284.041                                     FR 0040
                 FR 0087                            263.786               262.628                                     FR 0087
                 FR 0082                            238.723               238.580                                     FR 0082
                 FR 0054                            149.411               151.148                                     FR 0054
                 FR 0071                            134.592               137.061                                     FR 0071
                 FR 0073                            130.747               131.814                                     FR 0073
                 FR 0077                            101.037               103.718                                     FR 0077
                 FR 0090                             96.277                95.292                                     FR 0090
                 FR 0088                             75.251                74.948                                     FR 0088
                 FR 0037                             74.779                78.003                                     FR 0037
                 FR 0091                             47.656                47.456                                     FR 0091
                 FR 0065                             46.676                46.442                                     FR 0065
                 FR 0052                             41.116                41.811                                     FR 0052
                 FR 0042                             16.524                16.889                                     FR 0042
                 FR 0046                                  -                41.273                                     FR 0046
                 FR 0039                                  -                14.565                                     FR 0039

                                                 10.690.819            10.211.113

             Obligasi Syariah Negara                                                                    Government Sharia Bond
               Sukuk BI                           8.421.151             7.116.523                                 Sukuk BI

                                                  8.421.151             7.116.523

                                                 19.111.970            17.327.636


           Mata uang asing                                                                                    Foreign Currencies
             Dolar Amerika Serikat                                                                           United States Dollar
             Tingkat bunga tetap                                                                                Fixed interest rate
                INDON 2026                          246.600               257.113                              INDON 2026
                INDOIS 2024                         100.642               102.380                             INDOIS 2024
                INDON 2025                           95.492                99.348                              INDON 2025
                INDOIS 2024N                         30.794                31.135                           INDOIS 2024N
                INDOIS 2023                               -               128.695                             INDOIS 2023
                INDON 2023                                -                62.816                              INDON 2023
                INDON 2023 N                              -                31.702                           INDON 2023 N

                                                    473.528               713.189

                                                 19.585.498            18.040.825

                Total                            35.893.929            51.964.973                                     Total




                                                         113
Page 510
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                         unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                             9.     GOVERNMENT BONDS (continued)
       c. Berdasarkan jatuh tempo dan suku bunga                         c. Based on maturity and interest rate
                                           Tanggal jatuh tempo/         Suku Bunga/
                      Keterangan              Maturity date             Interest Rate                         Description

           Nilai wajar melalui laba rugi                                                                Fair value through profit or loss
              Rupiah                                                                                                        Rupiah
              Tingkat bunga tetap                                                                                Fixed interest rate
                  FR 0040                     15 September/             11,00% tetap/                                   FR 0040
                                            September 15, 2025              fixed
                 FR 0044                      15 September/             10,00% tetap/                                   FR 0044
                                            September 15, 2024              fixed
                 FR 0046                          15 Juli/              9,50% tetap/                                    FR 0046
                                               July 15, 2023                fixed
                 FR 0054                          15 Juli/              9,50% tetap/                                    FR0054
                                               July 15, 2031                fixed
                 FR 0056                      15 September/             8,38% tetap/                                    FR 0056
                                            September 15, 2026              fixed
                 FR 0059                          15 Mei/               7,00% tetap/                                    FR 0059
                                               May 15, 2027                 fixed
                 FR 0062                          15 April/             6,38% tetap/                                    FR 0062
                                               April 15, 2042               fixed
                 FR 0064                          15 Mei/               6,13% tetap/                                    FR 0064
                                               May 15, 2028                 fixed
                 FR 0065                          15 Mei/               6,63% tetap/                                    FR 0065
                                               May 15, 2033                 fixed
                 FR 0068                         15 Maret/              8,38% tetap/                                    FR 0068
                                              March 15, 2034                fixed
                 FR 0070                         15 Maret/              8,38% tetap/                                    FR 0070
                                              March 15, 2024                fixed
                 FR 0071                         15 Maret/              9,00% tetap/                                    FR 0071
                                              March 15, 2029                fixed
                 FR 0072                          15 Mei/               8,25% tetap/                                    FR 0072
                                               May 15, 2036                 fixed
                 FR 0073                          15 Mei/               8,75% tetap/                                    FR 0073
                                               May 15, 2031                 fixed
                 FR 0074                        15 Agustus/             7,50% tetap/                                    FR 0074
                                              August 15, 2032               fixed
                 FR 0075                          15 Mei/               7,50% tetap/                                    FR 0075
                                               May 15, 2038                 fixed
                 FR 0076                          15 Mei/               7,38% tetap/                                    FR 0076
                                               May 15, 2048                 fixed
                 FR 0078                          15 Mei/               8,25% tetap/                                    FR 0078
                                               May 15, 2029                 fixed
                 FR 0079                          15 April/             8,38% tetap/                                    FR 0079
                                               April 15, 2039               fixed
                 FR 0080                          15 Juni/              7,50% tetap/                                    FR 0080
                                               June 15, 2035                fixed
                 FR 0081                          15 Juni/              6,50% tetap/                                    FR 0081
                                               June 15, 2025                fixed
                 FR 0083                          15 April/             7,50% tetap/                                    FR 0083
                                               April 15, 2040               fixed
                 FR 0084                        15 Februari/            7,25% tetap/                                    FR 0084
                                             February 15, 2026              fixed
                 FR 0085                          15 April/             7,75% tetap/                                    FR 0085
                                               April 15, 2031               fixed
                 FR 0086                          15 April/             5,50% tetap/                                    FR 0086
                                               April 15, 2026               fixed
                 FR 0087                        15 Februari/            6,50% tetap/                                    FR 0087
                                             February 15, 2031              fixed
                 FR 0088                          15 Juni/              6,25% tetap/                                    FR 0088
                                               June 15, 2036                fixed
                 FR 0089                        15 Agustus/             6,88% tetap/                                    FR 0089
                                              August 15, 2051               fixed
                 FR 0090                          15 April/             5,13% tetap/                                    FR 0090
                                               April 15, 2027               fixed
                 FR 0091                          15 April/             6,38% tetap/                                    FR 0091
                                               April 15, 2032               fixed
                 FR 0092                          15 Juni/              7,13% tetap/                                    FR 0092
                                               June 15, 2042                fixed
                 FR 0093                          15 Juli/              6,38% tetap/                                    FR 0093
                                               July 15, 2037                fixed
                 FR 0095                        15 Agustus/             6,38% tetap/                                    FR 0095
                                              August 15, 2028               fixed
                 FR 0096                        15 Februari/            7,00% tetap/                                    FR 0096
                                             February 15, 2033              fixed
                 FR 0097                          15 Juni/              7,13% tetap/                                    FR 0097
                                               June 15, 2043                fixed
                 FR 0098                          15 Juni/              7,13% tetap/                                    FR 0098
                                               June 15, 2038                fixed




                                                           114
Page 511
                                                                                  The original financial statements included herein are in the
                                                                                                                        Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                          and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                    unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                                        9.     GOVERNMENT BONDS (continued)

       c. Berdasarkan jatuh tempo dan suku bunga                                    c.    Based on maturity and interest rate (continued)
          (lanjutan)
                                                      Tanggal jatuh tempo/         Suku Bunga/
                      Keterangan                         Maturity date             Interest Rate                            Description

           Nilai wajar melalui laba rugi (lanjutan)                                                      Fair value through profit or loss (continued)
              Rupiah (lanjutan)                                                                                              Rupiah (continued)
              Tingkat bunga tetap                                                                                             Fixed interest rate
                  FR 0101                                     15 April/            6,88% tetap/                                       FR 0101
                                                          April 15, 2029               fixed
                 ORI 017                                      15 July/             6,40% tetap/                                      ORI 017
                                                           July 15, 2023               fixed
                 ORI 018                                    15 Oktober/            5,70% tetap/                                      ORI 018
                                                        October 15, 2023               fixed
                 ORI 019                                    15 Februari/           5,57% tetap/                                      ORI 019
                                                        February 15, 2024              fixed
                 ORI 020                                    15 Oktober/            4,95% tetap/                                      ORI 020
                                                        October 15, 2024               fixed
                 ORI 021                                    15 Februari/           4,90% tetap/                                      ORI 021
                                                        February 15, 2025              fixed
                 ORI 022                                    15 Oktober/            5,95% tetap/                                      ORI 022
                                                        October 15, 2025               fixed
                 ORI 023T3                                    15 Juli/             5,90% tetap/                                   ORI 023T3
                                                           July 15, 2026               fixed
                 PBS 017                                    15 Oktober/            6,13% tetap/                                      PBS 017
                                                        October 15, 2025               fixed
                 PBS 026                                    15 Oktober/            6,63% tetap/                                      PBS 026
                                                        October 15, 2024               fixed
                 PBS 033                                      15 Juni/             6,75% tetap/                                      PBS 033
                                                          June 15, 2047                fixed
                 PBS 036                                    15 Agustus/            5,38% tetap/                                      PBS 036
                                                        Agustus 15, 2025               fixed
                 SR 0012                                     10 Maret/             6,30% tetap/                                      SR 0012
                                                         March 10, 2023                fixed
                 SR 0014                                     10 Maret/             5,47% tetap/                                      SR 0014
                                                         March 10, 2024                fixed
                 SR 0015                                  10 September/            5,10% tetap/                                      SR 0015
                                                       September 10, 2024              fixed
                 SR 0016                                     10 Maret/             4,95% tetap/                                      SR 0016
                                                         March 10, 2025                fixed
                 SR 0017                                  10 September/            5,90% tetap/                                      SR 0017
                                                      September 10, 2025               fixed

              Zero Coupon Bonds                                                                                             Zero Coupon Bonds
                 SPN                                        Beragam/                 Beragam/                                         SPN
                                                            Various                   Various

           Mata uang asing                                                                                                       Foreign Currencies
             Dolar Amerika Serikat                                                                                            United States Dollar
             Tingkat bunga tetap                                                                                               Fixed interest rate
                INDOIS 2025                                 28 Mei/                4,325% tetap/                               INDOIS 2025
                                                         May 28, 2025                  fixed
                 INDOIS 2024                             10 September/             4,35% tetap/                                 INDOIS 2024
                                                       September 10, 2024              fixed


           Aset keuangan yang diukur pada                                                                              Financial asset held at fair
           nilai wajar melalui penghasilan                                                                                  value through other
           komprehensif lain                                                                                            comprehensive income
              Rupiah                                                                                                                     Rupiah
              Tingkat bunga tetap                                                                                             Fixed interest rate
                 FR 0037                                 15 September/             12,00% tetap/                                    FR 0037
                                                       September 15, 2026              fixed
                 FR 0039                                   15 Agustus/             11,75% tetap/                                     FR 0039
                                                        August 15, 2023                fixed
                 FR 0040                                 15 September/             11,00% tetap/                                     FR 0040
                                                       September 15, 2025              fixed
                 FR 0042                                     15 Juli/              10,25% tetap/                                     FR 0042
                                                          July 15, 2027                fixed
                 FR 0044                                 15 September/             10,00% tetap/                                     FR 0044
                                                       September 15, 2024              fixed




                                                                       115
Page 512
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                           unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                               9.     GOVERNMENT BONDS (continued)

       c. Berdasarkan jatuh tempo dan suku bunga                           c.    Based on maturity and interest rate (continued)
          (lanjutan)
                                             Tanggal jatuh tempo/         Suku Bunga/
                     Keterangan                 Maturity date             Interest Rate                         Description

           Aset keuangan yang diukur pada                                                                 Financial asset held at fair
           nilai wajar melalui penghasilan                                                                      value through other
           komprehensif lain (lanjutan)                                                           comprehensive income (continued)
              Rupiah (lanjutan)                                                                                  Rupiah (continued)
              Tingkat bunga tetap                                                                                 Fixed interest rate
                 FR 0046                            15 Juli/              9,50% tetap/                                  FR 0046
                                                 July 15, 2023                fixed
                 FR 0052                          15 Agustus/             10,50% tetap/                                  FR 0052
                                                August 15, 2030               fixed
                 FR 0054                            15 Juli/              9,50% tetap/                                   FR 0054
                                                 July 15, 2031                fixed
                 FR 0056                        15 September/             8,38% tetap/                                   FR 0056
                                              September 15, 2026              fixed
                 FR 0059                            15 Mei/               7,00% tetap/                                   FR 0059
                                                 May 15, 2027                 fixed
                 FR 0062                            15 April/             6,38% tetap/                                   FR 0062
                                                 April 15, 2042               fixed
                 FR 0068                           15 Maret/              8,38% tetap/                                   FR 0068
                                                March 15, 2034                fixed
                 FR 0071                           15 Maret/              9,00% tetap/                                   FR 0071
                                                March 15, 2029                fixed
                 FR 0072                            15 Mei/               8,25% tetap/                                   FR 0072
                                                 May 15, 2036                 fixed
                 FR 0073                            15 Mei/               8,75% tetap/                                   FR 0073
                                                 May 15, 2031                 fixed
                 FR 0075                            15 Mei/               7,50% tetap/                                   FR 0075
                                                 May 15, 2038                 fixed
                 FR 0077                            15 Mei/               8,13% tetap/                                   FR 0077
                                                 May 15, 2024                 fixed
                 FR 0078                            15 Mei/               8,25% tetap/                                   FR 0078
                                                 May 15, 2029                 fixed
                 FR 0081                            15 Juni/              6,50% tetap/                                   FR 0081
                                                 June 15, 2025                fixed
                 FR 0082                        15 September/             7,00% tetap/                                   FR 0082
                                              September 15, 2030              fixed
                 FR 0083                            15 April/             7,50% tetap/                                   FR 0083
                                                 April 15, 2040               fixed
                 FR 0084                          15 Februari/            7,25% tetap/                                   FR 0084
                                               February 15, 2026              fixed
                 FR 0085                            15 April/             7,75% tetap/                                   FR 0085
                                                 April 15, 2031               fixed
                 FR 0087                          15 Februari/            6,50% tetap/                                   FR 0087
                                               February 15, 2031              fixed
                 FR 0090                            15 April/             5,13% tetap/                                   FR 0090
                                                 April 15, 2027               fixed
                 FR 0091                            15 April/             6,38% tetap/                                   FR 0091
                                                 April 15, 2032               fixed


          Aset keuangan yang diukur pada                                                                     Financial asset held at fair
          nilai wajar melalui penghasilan                                                                          value through other
          komprehensif lain                                                                                     comprehensive income
              Rupiah                                                                                                        Rupiah
              Tingkat bunga tetap                                                                                Fixed interest rate
              Obligasi Syariah Negara                                                                     Government Sharia Bonds
                 PBS 003                          15 Januari/             6,00% tetap/                                 PBS 003
                                               January 15, 2027               fixed
                 PBS 004                         15 Februari/             6,10% tetap/                                  PBS 004
                                              February 15, 2037               fixed
                 PBS 011                         15 Agustus/              8,75% tetap/                                  PBS 011
                                               August 15, 2023                fixed
                 PBS 012                        15 November/              8,88% tetap/                                  PBS 012
                                              November 15, 2031               fixed
                 PBS 017                         15 Oktober/              6,13% tetap/                                  PBS 017
                                               October 15, 2025               fixed




                                                             116
Page 513
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                          unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                              9.     GOVERNMENT BONDS (continued)

       c. Berdasarkan jatuh tempo dan suku bunga                          c.    Based on maturity and interest rate (continued)
          (lanjutan)
                                            Tanggal jatuh tempo/         Suku Bunga/
                     Keterangan                Maturity date             Interest Rate                         Description

          Aset keuangan yang diukur pada                                                                  Financial asset held at fair
          nilai wajar melalui penghasilan                                                                        value through other
          komprehensif lain (lanjutan)                                                             comprehensive income (continued)
              Rupiah (lanjutan)                                                                                Rupiah (continued)
              Tingkat bunga tetap                                                                               Fixed interest rate
              Obligasi Syariah Negara                                                                    Government Sharia Bonds
                 PBS 019                       15 September/             8,25% tetap/                                 PBS 019
                                             September 15, 2023              fixed
                PBS 021                        15 November/              8,50% tetap/                                  PBS 021
                                             November 15, 2026               fixed
                PBS 022                           15 April/              8,63% tetap/                                  PBS 022
                                               April 15, 2034                fixed
                PBS 025                            15 Mei/               8,38% tetap/                                  PBS 025
                                                May 15, 2033                 fixed
                PBS 026                          15 Oktober/             6,63% tetap/                                  PBS 026
                                              October 15, 2024               fixed
                PBS 027                            15 Mei/               6,55% tetap/                                  PBS 027
                                                May 15, 2023                 fixed
                PBS 028                          15 Oktober/             7,75% tetap/                                  PBS 028
                                              October 15, 2046               fixed
                PBS 029                           15 Maret/              6,38% tetap/                                  PBS 029
                                               March 15, 2034                fixed
                PBS 030                            15 Juli/              5,88% tetap/                                  PBS 030
                                                July 15, 2028                fixed
                PBS 032                            15 Juli/              4,88% tetap/                                  PBS 032
                                                July 15, 2026                fixed
                PBS 033                            15 Juni/              6,75% tetap/                                  PBS 033
                                                July 15, 2047                fixed
                PBS 034                            15 Juni/              6,50% tetap/                                  PBS 034
                                                July 15, 2039                fixed
                PBS 037                           15 Maret/              6,88% tetap/                                  PBS 037
                                               March 15, 2036                fixed
                PBS 038                        15 Desember/              6,88% tetap/                                  PBS 038
                                             December 15, 2049               fixed
                PBSG001                        15 September/             6,63% tetap/                                 PBSG001
                                             September 15, 2029              fixed

           Mata uang asing                                                                                         Foreign Currencies
             Dolar Amerika Serikat                                                                              United States Dollar
             Tingkat bunga tetap                                                                                 Fixed interest rate
                INDOIS 2050                        23 Juni/              3,80% tetap/                            INDOIS 2050
                                                June 23, 2050                fixed
                INDON 2037                       17 Februari/            6,63% tetap/                              INDON 2037
                                              February 17, 2037              fixed
                INDON 2038                       17 Januari/             7,75% tetap/                              INDON 2038
                                              January 17, 2038               fixed
                INDON 2043                         15 April/             4,63% tetap/                              INDON 2043
                                                April 15, 2043               fixed
                INDON 2044                       15 Januari/             6,75% tetap/                              INDON 2044
                                              January 15, 2044               fixed
                INDON 2045                       15 Januari/             5,13% tetap/                              INDON 2045
                                              January 15, 2045               fixed
                INDON 2046                        8 Januari/             5,95% tetap/                              INDON 2046
                                               January 8, 2046               fixed
                INDON 2047                        8 Januari/             5,25% tetap/                              INDON 2047
                                               January 8, 2047               fixed
                INDON 2048                       11 Januari/             4,35% tetap/                              INDON 2048
                                              January 11, 2048               fixed
                INDON 2049                       11 Februari/            5,35% tetap/                              INDON 2049
                                              February 11, 2049              fixed
                INDON 2049N                      30 Oktober/             3,70% tetap/                            INDON 2049N
                                              October 30, 2049               fixed
                INDON 2050N                      15 Oktober/             4,20% tetap/                            INDON 2050N
                                              October 15, 2050               fixed
                USD FR 0002                        24 Juni/              4,05% tetap/                             USD FR 0002
                                                June 24, 2026                fixed




                                                             117
Page 514
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                      unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                          9.     GOVERNMENT BONDS (continued)

       c. Berdasarkan jatuh tempo dan suku bunga                      c.    Based on maturity and interest rate (continued)
          (lanjutan)
                                        Tanggal jatuh tempo/         Suku Bunga/
                    Keterangan             Maturity date             Interest Rate                        Description

           Diukur pada biaya
           perolehan amortisasi                                                                                   Amortized cost
             Rupiah                                                                                                    Rupiah
             Tingkat bunga tetap                                                                            Fixed interest rate
                FR 0037                    15 September/             12,00% tetap/                                FR 0037
                                         September 15, 2026               fixed
                FR 0039                      15 Agustus/             11,75% tetap/                                FR 0039
                                          August 15, 2023                fixed
                FR 0040                    15 September/            11,00% tetap/                                 FR 0040
                                         September 15, 2025               fixed
                FR 0042                         15 Juli/             10,25% tetap/                                FR 0042
                                            July 15, 2027                 fixed
                FR 0044                     15 September/           10,00% tetap/                                 FR 0044
                                         September 15, 2024               fixed
                FR 0046                         15 Juli/             9,50% tetap/                                 FR 0046
                                            July 15, 2023                 fixed
                FR 0047                      15 Februari/            10,00% tetap/                                FR 0047
                                          February 15, 2028               fixed
                FR 0052                      15 Agustus/             10,50% tetap/                                FR 0052
                                           August 15, 2030                fixed
                FR 0054                         15 Juli/             9,50% tetap/                                 FR 0054
                                            July 15, 2031                 fixed
                FR 0056                    15 September/             8,38% tetap/                                 FR 0056
                                         September 15, 2026               fixed
                FR 0059                         15 Mei/              7,00% tetap/                                 FR 0059
                                            May 15, 2027                 fixed
                FR 0064                        15 Mei/               6,13% tetap/                                 FR 0064
                                            May 15, 2028                 fixed
                FR 0065                         15 Mei/              6,63% tetap/                                 FR 0065
                                            May 15, 2033                  fixed
                FR 0070                        15 Maret/             8,38% tetap/                                 FR 0070
                                            March 15, 2024               fixed
                FR 0071                        15 Maret/             9,00% tetap/                                 FR 0071
                                            March 15, 2029               fixed
                FR 0073                         15 Mei/              8,75% tetap/                                 FR 0073
                                            May 15, 2031                  fixed
                FR 0077                        15 Mei/               8,13% tetap/                                 FR 0077
                                            May 15, 2024                 fixed
                FR 0078                         15 Mei/              8,25% tetap/                                 FR 0078
                                            May 15, 2029                 fixed
                FR 0081                        15 Juni/              6,50% tetap/                                 FR 0081
                                            June 15, 2025                fixed
                FR 0082                    15 September/             7,00% tetap/                                 FR 0082
                                         September 15, 2030               fixed
                FR 0084                      15 Februari/            7,25% tetap/                                 FR 0084
                                          February 15, 2026              fixed
                FR 0085                        15 April/             7,75% tetap/                                 FR 0085
                                            April 15, 2031                fixed
                FR 0086                       15 April/              5,50% tetap/                                 FR 0086
                                            April 15, 2026               fixed
                FR 0087                      15 Februari/            6,50% tetap/                                 FR 0087
                                          February 15, 2031               fixed
                FR 0088                        15 Juni/              6,25% tetap/                                 FR 0088
                                            June 15, 2036                 fixed
                FR 0090                        15 April/             5,13% tetap/                                 FR 0090
                                            April 15, 2027                fixed
                FR 0091                       15 April/              6,38% tetap/                                 FR 0091
                                            April 15, 2032                fixed

             Obligasi Syariah Negara                                                                  Government Sharia Bond
               Sukuk BI                       3 Januari/             6,00% tetap/                                Sukuk BI
                                           January 3, 2024               fixed
                Sukuk BI                      3 Januari/             6,16% tetap/                                 Sukuk BI
                                           January 3, 2024               fixed
                Sukuk BI                      5 Januari/             6,00% tetap/                                 Sukuk BI
                                           January 5, 2024               fixed
                Sukuk BI                      5 Januari/             6,31% tetap/                                 Sukuk BI
                                           January 5, 2024               fixed
                Sukuk BI                      5 Januari/             6,67% tetap/                                 Sukuk BI
                                           January 5, 2024               fixed
                Sukuk BI                     10 Januari/             6,16% tetap/                                 Sukuk BI
                                          January 10, 2024               fixed
                Sukuk BI                     17 Januari/             6,16% tetap/                                 Sukuk BI
                                          January 17, 2024               fixed


                                                         118
Page 515
                                                                                 The original financial statements included herein are in the
                                                                                                                       Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                               As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                         and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                            (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                   unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                                       9.     GOVERNMENT BONDS (continued)
       c. Berdasarkan jatuh tempo dan suku bunga                                   c.    Based on maturity and interest rate (continued)
          (lanjutan)
                                                  Tanggal jatuh tempo/            Suku Bunga/
                     Keterangan                      Maturity date                Interest Rate                          Description
           Diukur pada biaya
           perolehan amortisasi (lanjutan)                                                                           Amortized cost (continued)
             Rupiah (lanjutan)                                                                                           Rupiah (continued)
             Tingkat bunga tetap                                                                                          Fixed interest rate
             Obligasi Syariah Negara (lanjutan)                                                          Government Sharia Bond (continued)
                Sukuk BI                               24 Januari/                6,42% tetap/                                  Sukuk BI
                                                    January 24, 2024                  fixed
                Sukuk BI                                2 Februari/               6,32% tetap/                                   Sukuk BI
                                                    February 2, 2024                  fixed
                Sukuk BI                                2 Februari/               6,46% tetap/                                   Sukuk BI
                                                    February 2, 2024                  fixed
                Sukuk BI                                2 Februari/               6,70% tetap/                                   Sukuk BI
                                                    February 2, 2024                  fixed
                Sukuk BI                               15 Februari/               6,47% tetap/                                   Sukuk BI
                                                    February 15, 2024                 fixed
                Sukuk BI                               28 Februari/               6,46% tetap/                                   Sukuk BI
                                                    February 28, 2024                 fixed
                Sukuk BI                                  1 Maret/                6,70% tetap/                                   Sukuk BI
                                                     March 1, 2024                    fixed
                Sukuk BI                                  8 Maret/                6,42% tetap/                                   Sukuk BI
                                                     March 8, 2024                    fixed
                Sukuk BI                                 15 Maret/                6,30% tetap/                                   Sukuk BI
                                                     March 15, 2024                   fixed
                Sukuk BI                                 27 Maret/                6,44% tetap/                                   Sukuk BI
                                                     March 27, 2024                   fixed
                Sukuk BI                                  1 April/                6,47% tetap/                                   Sukuk BI
                                                      April 1, 2024                   fixed
                Sukuk BI                                  5 April/                6,40% tetap/                                   Sukuk BI
                                                      April 5, 2024                   fixed
                Sukuk BI                                  12 April/               6,32% tetap/                                   Sukuk BI
                                                      April 12, 2024                  fixed
                Sukuk BI                                   3 Mei/                 6,79% tetap/                                   Sukuk BI
                                                      May 3, 2024                     fixed
                Sukuk BI                                   3 Mei/                 6,40% tetap/                                   Sukuk BI
                                                      May 3, 2024                     fixed
                Sukuk BI                                   3 Mei/                 6,48% tetap/                                   Sukuk BI
                                                      May 3, 2024                     fixed
                Sukuk BI                                   7 Juni/                6,71% tetap/                                   Sukuk BI
                                                      June 7, 2024                    fixed
                Sukuk BI                                   7 Juni/                6,42% tetap/                                   Sukuk BI
                                                      June 7, 2024                    fixed
                Sukuk BI                                  14 Juni/                6,39% tetap/                                   Sukuk BI
                                                     June 14, 2024                    fixed
                Sukuk BI                                   5 Juli/                6,41% tetap/                                   Sukuk BI
                                                       July 5, 2024                   fixed
                Sukuk BI                                  12 Juli/                6,40% tetap/                                   Sukuk BI
                                                      July 12, 2024                   fixed
                Sukuk BI                                2 Agustus/                6,95% tetap/                                   Sukuk BI
                                                     August 2, 2024                   fixed
                Sukuk BI                                2 Agustus/                6,42% tetap/                                   Sukuk BI
                                                     August 2, 2024                   fixed
                Sukuk BI                              6 September/                6,84% tetap/                                   Sukuk BI
                                                   September 6, 2024                  fixed
                Sukuk BI                             13 September/                6,40% tetap/                                   Sukuk BI
                                                   September 13, 2024                 fixed
                Sukuk BI                               11 Oktober/                6,43% tetap/                                   Sukuk BI
                                                    October 11, 2024                  fixed
                Sukuk BI                              1 November/                 7,02% tetap/                                   Sukuk BI
                                                    November 1, 2024                  fixed
                Sukuk BI                              6 Desember/                 6,92% tetap/                                   Sukuk BI
                                                    December 6, 2024                  fixed

             Dolar Amerika Serikat                                                                                       United States Dollar
             Tingkat bunga tetap                                                                                          Fixed interest rate

               INDOIS 2023                             1 Maret/                   3,75% tetap/                               INDOIS 2023
                                                     March 1, 2023                    fixed
               INDON 2023                              15 April/                  3,38% tetap/                               INDON 2023
                                                     April 15, 2023                   fixed




                                                                      119
Page 516
                                                                            The original financial statements included herein are in the
                                                                                                                  Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                          As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                    and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                              unless otherwise stated)


9.     OBLIGASI PEMERINTAH (lanjutan)                                  9.     GOVERNMENT BONDS (continued)
       c. Berdasarkan jatuh tempo dan suku bunga                              c.    Based on maturity and interest rate (continued)
          (lanjutan)
                                                Tanggal jatuh tempo/         Suku Bunga/
                     Keterangan                     Maturity date            Interest Rate                          Description

           Diukur pada biaya
           perolehan amortisasi (lanjutan)                                                                     Amortized cos (continued)t
             Dolar Amerika Serikat (lanjutan)                                                           United States Dollar (continued)
             Tingkat bunga tetap (lanjutan)                                                               Fixed interest rate (continued)

                INDON 2023N                          17 Oktober/             5,38% tetap/                              INDON 2023N
                                                  October 17, 2023               fixed
                INDOIS 2024N                         20 Agustus/             3,90% tetap/                              INDON 2024N
                                                  August 20, 2024                fixed
                INDOIS 2024                         10 September/            4,35% tetap/                               INDOIS 2024
                                                 September 10, 2024              fixed
                INDON 2025                           15 Januari/             4,13% tetap/                               INDON 2025
                                                  January 15, 2025               fixed
                INDON 2026                            8 Januari/             4,75% tetap/                               INDON 2026
                                                   January 8, 2026               fixed

          Bunga atas obligasi pemerintah syariah seri                          Interest of ORI series, PBS and SR series
          ORI, PBS dan seri SR, masing-masing                                  sharia government bonds are paid monthly and
          dibayarkan secara bulanan dan semester.                              semi-annually, respectively.
          Nilai pasar obligasi pemerintah yang                                 The market values of government bonds
          diklasifikasikan sebagai nilai wajar melalui                         classified as fair value through profit or loss and
          laba rugi dan diukur pada nilai wajar melalui                        fair value through other comprehensive income
          penghasilan komprehensif lain berkisar dari                          are ranging from 83.40% to 128.61% and
          83,40% sampai dengan 128,61% dan 77,42%                              77.42% to 120.93% of nominal amounts as of
          sampai dengan 120,93% masing-masing                                  December 31, 2023 and 2022, respectively.
          pada tanggal 31 Desember 2023 dan 2022.
          Kerugian yang belum direalisasi akibat                               As of December 31, 2023 and 2022, the
          penurunan nilai wajar obligasi pemerintah                            unrealized gain or loss due to the decrease in
          yang diukur pada nilai wajar melalui                                 the fair value of fair value through other
          pendapatan komprehensif lain pada tanggal                            comprehensive income government bonds
          31 Desember 2023 dan 2022 masing-masing                              (after deferred tax) amounted to (Rp836,907)
          sebesar (836.907) dan (Rp1.229.044), yang                            and (Rp1,229,044), respectively, which are
          disajikan dalam akun “(Kerugian) yang belum                          presented as “Unrealized (loss) on securities
          direalisasi atas efek-efek dan obligasi                              and government bonds, net of deferred tax” in
          pemerintah setelah pajak tangguhan” pada                             the equity section of the statement of financial
          ekuitas dalam laporan posisi keuangan.                               position.

          Bank mengakui keuntungan dan kerugian                                The Bank recognized gain and loss-net on sale
          bersih atas penjualan obligasi pemerintah                            of government bonds amounting to Rp541,392
          masing-masing sebesar Rp541.392 dan                                  and (Rp266,235) for the years ended December
          (Rp266.235), untuk tahun yang berakhir pada                          31, 2023 and 2022, respectively, which is
          tanggal 31 Desember 2023 dan 2022, yang                              presented in the statement of profit or loss and
          disajikan dalam akun “Keuntungan dan                                 other comprehensive income as “Gain and
          (kerugian) dari penjualan obligasi pemerintah                        (loss) on sale of government bonds - net”.
          - neto” di laporan laba rugi dan penghasilan
          komprehensif lain.

          Bank mengakui keuntungan dan kerugian                                The Bank recognized unrealized gain and loss-
          yang belum direalisasi-neto atas perubahan                           net from the change in fair value of government
          nilai wajar obligasi pemerintah melalui laba                         bonds classified as at fair value through profit or
          rugi sebesar (Rp5.780) dan Rp55.045                                  loss amounting to (Rp5,780) and Rp55,045 for
          masing-masing untuk tahun yang berakhir                              the years ended December 31, 2023 and 2022,
          pada tanggal 31 Desember 2023 dan 2022,                              respectively, which is presented in the
          yang disajikan dalam akun “Keuntungan                                statement of profit and loss in other
          (kerugian) yang belum direalisasi dari                               comprehensive income as “Unrealized gain and
          perubahan nilai wajar obligasi pemerintah -                          loss from change in fair value of government
          neto” di laporan laba rugi dan penghasilan                           bonds - net”.
          komprehensif lain.

                                                                 120
Page 517
                                                                                            The original financial statements included herein are in the
                                                                                                                                  Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                     PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                             As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                       and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                          (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                 unless otherwise stated)


10. EFEK-EFEK YANG DIBELI DENGAN JANJI                                               10.         SECURITIES    PURCHASED                                      UNDER
    DIJUAL KEMBALI                                                                               AGREEMENT TO RESELL

   Efek-efek yang dibeli dengan janji dijual kembali                                             Securities purchased under agreement to resell
   terdiri dari:                                                                                 consist of:
                                                                  31 Desember/December 31, 2022

                                 Jenis                                                                                                Pendapatan Bunga
                                 surat        Suku        Nilai                                 Tanggal               Harga Pen-         yang Belum            Nilai
                               berharga/     bunga/     nominal/       Tanggal dimulai/        penjualan            jualan kembali/      Direalisasi/         tercatat/
      Nasabah/                  Type of     Interest    Nominal        commencement             kembali/                 Resell           Unrealized          Carrying
      Customer                 securities     rate      amount              date              Resell date                price             interest            Value

  Pihak Ketiga/Third Party
  Bank Indonesia               VR0035       5,50%       1.000.000        30 Desember/           6 Januari/                 957.562               731           956.831
                                                                       December 30, 2022     January 6, 2023
  Bank Indonesia               VR0039       5,50%            500.000     30 Desember/           6 Januari/                 477.724               365           477.359
                                                                       December 30, 2022     January 6, 2023

                                                        1.500.000                                                        1.435.286              1.096        1.434.190




   Berikut adalah perubahan efek-efek yang dibeli                                                Presented below is the movements in securities
   dengan janji dijual kembali untuk tahun yang                                                  purchased under agreement to resell for the year
   berakhir 31 Desember 2023 dan 2022:                                                           ended December 31, 2023 and 2022, respectively:
                                                                   31 Desember/December 31, 2023

                                              Stage 1             Stage 2         Stage 3           Syariah*)           Total

           Efek-efek yang dibeli dengan                                                                                                    Securities purchased under
             janji dijual kembali                                                                                                                agreement to resell
             Saldo awal                         1.434.190                   -                -                  -        1.434.190                 Beginning Balance

           Aset keuangan baru yang                                                                                                                  New financial assets
             diterbitkan atau dibeli                     -                  -                -                  -                 -           originated or purchased
           Aset keuangan yang                                                                                                                    Derecognized financial
             dihentikan pengakuannya           (1.434.190)                  -                -                  -       (1.434.190)                             assets

           Saldo akhir tahun                             -                  -                -                  -                 -         Balance at the end of year


       *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                         *) Not applying SFAS No. 71 ”Financial Instruments”


                                                                   31 Desember/December 31, 2022

                                              Stage 1             Stage 2         Stage 3           Syariah*)           Total

           Efek-efek yang dibeli dengan                                                                                                    Securities purchased under
             janji dijual kembali                                                                                                                agreement to resell
             Saldo awal                         1.598.325                   -                -                  -        1.598.325                 Beginning Balance

           Aset keuangan baru yang                                                                                                                  New financial assets
             diterbitkan atau dibeli            1.434.190                   -                -                  -        1.434.190            originated or purchased
           Aset keuangan yang                                                                                                                    Derecognized financial
             dihentikan pengakuannya           (1.598.325)                  -                -                  -       (1.598.325)                             assets

           Saldo akhir tahun                    1.434.190                   -                -                  -        1.434.190          Balance at the end of year


       *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                         *) Not applying SFAS No. 71 ”Financial Instruments”




                                                                            121
Page 518
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

  PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
      CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
    Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                          unless otherwise stated)


11.   KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                        11.     LOANS    AND               SHARIA          FINANCING/
      PIUTANG SYARIAH                                                      RECEIVABLES

      Seluruh kredit yang diberikan oleh Bank, termasuk                     All loans provided by the Bank, including sharia
      pembiayaan/piutang syariah adalah dalam Rupiah.                      financing/receivables are in Rupiah. The details of
      Rincian kredit dan pembiayaan/piutang syariah                        loans and sharia financing/receivables classified by
      yang diberikan oleh Bank berdasarkan jenis,                          type, transactions with related parties, economic
      transaksi dengan pihak-pihak berelasi, sektor                        sector, period based on agreements, remaining
      ekonomi, jangka waktu sesuai dengan perjanjian,                      period to maturity and collectibility are as follows:
      sisa umur jatuh tempo dan kolektibilitas adalah
      sebagai berikut:

      a. Jenis Kredit dan Pembiayaan/Piutang Syariah                       a. Types      of     Loans              and         Sharia
                                                                              Financing/Receivables

                                           31 Desember/            31 Desember/
                                         December 31, 2023      December 31, 2022

        Konvensional                                                                                                   Conventional
        Konsumsi                                                                                                          Consumer
          Pemilikan rumah (KPR)                 223.468.118              204.856.626                                Housing loan
          Non-kepemilikan rumah                  12.840.107               11.546.141                            Non-housing loan

                                                236.308.225              216.402.767

        Modal kerja                              35.696.992               32.155.119                                   Working capital
        Investasi                                15.453.971               11.501.050                                        Investment
        Sindikasi                                 7.150.361                4.504.244                                        Syndicated
        Direksi dan karyawan                                                                                 Directors and employees
          - Pihak ketiga                          1.893.632                2.008.080                                   Third parties -
          - Pihak yang berelasi                      80.679                   86.305                                Related parties -

                                                296.583.860              266.657.565

        Syariah                                                                                                               Sharia
        Konsumsi                                                                                                        Consumer
          Pemilikan rumah (KPR)                  34.602.763               29.030.428                                Housing loan
          Non-kepemilikan rumah                     166.474                  143.517                            Non-housing loan

                                                 34.769.237               29.173.945

        Modal kerja                               2.263.137                2.300.564                                   Working capital
        Investasi                                    78.036                  142.572                                       Investment
        Direksi dan karyawan                                                                                 Directors and employees
          - Pihak yang berelasi                        3.871                   7.058                                Related parties -

                                                 37.114.281               31.624.139

        Total                                   333.698.141              298.281.704                                             Total
        Dikurangi cadangan kerugian                                                                                    Less allowance
           penurunan nilai                      (15.591.964)             (15.674.923)                         for impairment losses

        Neto                                    318.106.177              282.606.781                                          Net




                                                          122
Page 519
                                                                                             The original financial statements included herein are in the
                                                                                                                                   Indonesian language.

  PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
      CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                                           As of December 31, 2023
    Tahun yang Berakhir pada Tanggal Tersebut                                                     and for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                                        (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                                               unless otherwise stated)


11.    KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                                           11.     LOANS    AND      SHARIA                           FINANCING/
       PIUTANG SYARIAH (lanjutan)                                                              RECEIVABLES (continued)

      b.    Sektor Ekonomi                                                                     b.        Economic Sector
                                                           31 Desember/                31 Desember/
                                                         December 31, 2023          December 31, 2022

            Konvensional                                                                                                                             Conventional
            Perumahan                                           251.091.492                  233.309.666                                                 Property
            Konstruksi                                           12.078.073                   13.089.795                                             Construction
            Jasa usaha                                           10.226.514                    7.260.835                                        Business service
            Listrik, gas dan air                                  5.106.305                    3.368.130                               Electricity, gas and water
            Transportasi, pergudangan,                                                                                             Transportation. Warehousing,
               dan komunikasi                                        4.830.547                  4.414.947                                 and communication
            Perdagangan, restoran, dan hotel                         4.117.417                  1.410.821                           Trading, restaurant and hotel
            Pertambangan                                             1.842.962                  1.228.096                                                  Mining
            Manufaktur                                               1.604.572                  1.058.915                                           Manufacturing
            Jasa-jasa sosial                                         1.542.949                  1.148.943                                           Social service
            Pertanian                                                  177.819                     52.234                                                Farming
            Lain-lain*)                                              3.965.210                    315.183                                                  Other*)
                                                                296.583.860                  266.657.565
             Syariah                                                                                                                                      Sharia
             Perumahan                                           34.604.291                   29.035.910                                               Property
             Konstruksi                                           1.597.691                    1.466.466                                            Construction
             Jasa usaha                                             912.299                    1.121.763                                        Business service
                                                                 37.114.281                   31.624.139
             Total                                              333.698.141                  298.281.704                                                    Total
             Dikurangi cadangan kerugian                                                                                                         Less allowance
                penurunan nilai                                 (15.591.964)                 (15.674.923)                                  for impairment losses
             Neto                                               318.106.177                  282.606.781                                                       Net

           *) Terdiri dari rumah tangga dan sektor ekonomi lainnya                                           *) Consists of household and other economic sectors



      c.    Kolektibilitas                                                                     c.        Collectibility
                                               31 Desember/December 31, 2023            31 Desember/December 31, 2022

                                                                  Cadangan                                     Cadangan
                                                                   kerugian                                     kerugian
                                                                  penurunan                                    penurunan
                                                                      nilai/                                       nilai/
                                              Nilai tercatat/     Allowance            Nilai tercatat/         Allowance
                                                Carrying        for impairment           Carrying            for impairment
                                                 amount              losses               amount                  losses

             Konvensional                                                                                                                             Conventional
             Individual                                                                                                                                   Individual
                 Lancar                             8.399.059           1.916.967             6.349.613            1.487.285                             Current
                 Dalam perhatian khusus             4.016.175           2.562.023             3.094.462            2.261.194                     Special mention
                 Kurang lancar                        113.803              96.719               210.002               43.087                       Substandard
                 Diragukan                                911                 849               287.925              250.586                            Doubtful
                 Macet                              3.281.664           2.581.015             4.173.552            3.168.627                                Loss

                                                   15.811.612           7.157.573            14.115.554            7.210.779

             Kolektif                                                                                                                                     Collective
                Lancar                           255.215.275            3.570.880          233.227.549             4.086.908                             Current
                Dalam perhatian khusus            19.790.203            1.370.850           14.961.502             1.189.242                     Special mention
                Kurang lancar                        279.523               97.243              223.217                48.405                       Substandard
                Diragukan                            537.521              186.708              505.684               127.977                            Doubtful
                Macet                              4.949.726            1.808.282            3.624.059             1.441.603                               Loss

                                                 280.772.248            7.033.963          252.542.011             6.894.135

             Syariah                                                                                                                                        Sharia
                Lancar                             33.636.263             75.269             28.499.767              197.833                             Current
                Dalam perhatian khusus              2.592.266            439.407              2.078.511              326.315                     Special mention
                Kurang lancar                         177.947            177.947                146.997              146.997                       Substandard
                Diragukan                             139.381            139.381                 94.373               94.373                            Doubtful
                Macet                                 568.424            568.424                804.491              804.491                               Loss

                                                   37.114.281           1.400.428            31.624.139            1.570.009

             Total                               333.698.141           15.591.964          298.281.704            15.674.923                                  Total




                                                                            123
Page 520
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

  PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
      CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
    Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                            unless otherwise stated)


11.    KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                        11.     LOANS    AND      SHARIA                   FINANCING/
       PIUTANG SYARIAH (lanjutan)                                           RECEIVABLES (continued)

      d.   Transaksi dengan pihak-pihak berelasi                            d.     Transactions with related parties

                                             31 Desember/           31 Desember/
                                            December 31, 2023     December 31, 2022

           Konvensional                                                                                              Conventional
           Konsumsi                                                                                                     Consumer
             Pemilikan rumah (KPR)                      4.176                     4.538                            Housing Loan
             Non-kepemilikan rumah                     85.559                    91.185                         Non-housing loan

                                                       89.735                    95.723
           Modal Kerja                              12.066.600             8.884.001                                 Working capital
           Investasi                                 9.340.394             6.728.046                                    Investment
           Sindikasi                                 6.188.754             3.731.972                                    Syndicated

                                                    27.685.483            19.439.742
           Syariah                                                                                                          Sharia
           Konsumsi                                                                                                     Consumer
              Pemilikan rumah (KPR)                      1.529                    5.483                            Housing Loan
              Non-kepemilikan rumah                      2.342                    1.575                         Non-housing loan

                                                         3.871                    7058
           Modal Kerja                                 83.332                  249.999                             Working capital

                                                       87.203                  257.057

           Total                                    27.772.686            19.696.799                                           Total




      e.   Jangka waktu (sesuai dengan perjanjian kredit                  e.      Loan period (based on agreements covering
           dan pembiayaan/piutang syariah)                                        loan and sharia financing/receivables)

                                             31 Desember/           31 Desember/
                                            December 31, 2023     December 31, 2022

           Konvensional                                                                                                Conventional
           ≤ 1 tahun                                 2.889.936           2.871.853                                          ≤ 1 year
           > 1 tahun ≤ 2 tahun                       4.026.448           1.945.142                                > 1 year ≤ 2 years
           > 2 tahun ≤ 5 tahun                      15.988.179          11.756.496                               > 2 years ≤ 5 years
           > 5 tahun                               273.679.297         250.084.074                                         > 5 years

                                                   296.583.860         266.657.565

           Syariah                                                                                                            Sharia
           ≤ 1 tahun                                   146.877               114.641                                        ≤ 1 year
           > 1 tahun ≤ 2 tahun                         631.048               413.397                              > 1 year ≤ 2 years
           > 2 tahun ≤ 5 tahun                       1.486.054             1.624.779                             > 2 years ≤ 5 years
           > 5 tahun                                34.850.302            29.471.322                                       > 5 years

                                                    37.114.281            31.624.139

           Total                                   333.698.141         298.281.704                                              Total
           Dikurangi cadangan kerugian                                                                               Less allowance
            penurunan nilai                     (15.591.964)           (15.674.923)                            for impairment losses

           Neto                                    318.106.177         282.606.781                                               Net




                                                            124
Page 521
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                        11.     LOANS     AND      SHARIA                   FINANCING
    PIUTANG SYARIAH (lanjutan)                                           /RECEIVABLES (continued)

   f.   Sisa Umur Jatuh Tempo                                            f.   Remaining Period to Maturity
                                          31 Desember/          31 Desember/
                                         December 31, 2023    December 31, 2022

        Konvensional                                                                                                Conventional
        ≤ 1 tahun                              14.044.527           15.001.990                                           ≤ 1 year
        > 1 tahun ≤ 2 tahun                     8.528.139            6.996.578                                 > 1 year ≤ 2 years
        > 2 tahun ≤ 5 tahun                    29.474.735           25.171.528                                > 2 years ≤ 5 years
        > 5 tahun                             244.536.459          219.487.469                                          > 5 years

                                              296.583.860          266.657.565

        Syariah                                                                                                            Sharia
        ≤ 1 tahun                                 861.160               1.033.295                                        ≤ 1 year
        > 1 tahun ≤ 2 tahun                       858.624                 979.616                              > 1 year ≤ 2 years
        > 2 tahun ≤ 5 tahun                     2.325.080               1.831.707                             > 2 years ≤ 5 years
        > 5 tahun                              33.069.417              27.779.521                                       > 5 years

                                               37.114.281              31.624.139

        Total                                 333.698.141          298.281.704                                               Total
        Dikurangi cadangan kerugian                                                                               Less allowance
         penurunan nilai                      (15.591.964)         (15.674.923)                             for impairment losses

        Neto                                  318.106.177          282.606.781                                                Net




   g. Informasi pokok lainnya                                           g.    Other significant information

        i. Termasuk di dalam kredit yang diberikan                            i. Loans     include     sharia      financing/
           adalah pembiayaan/piutang syariah yang                                receivables with details, as follows:
           diberikan dengan rincian sebagai berikut:

                                           31 Desember/         31 Desember/
                                         December 31, 2023    December 31, 2022

           Piutang Murabahah                   28.605.876              23.810.202                         Murabahah receivables
           Pembiayaan Musyarakah                4.527.313               4.563.573                          Musyarakah financing
           Piutang Istishna                     3.861.013               2.955.715                            Istishna receivables
           Pembiayaan Mudharabah                  102.689                 284.162                          Mudharabah financing
           Pinjaman Qardh                          15.940                  10.487                                 Funds of Qardh
           Aset yang Diperoleh                                                                                    Assets Acquired
              Untuk Ijarah – Bersih                  1.450                        -                            for Ijarah - Net

           Total                               37.114.281              31.624.139                                           Total
           Dikurangi cadangan kerugian                                                                         Less allowance for
             penurunan nilai                   (1.400.428)             (1.570.009)                             impairment losses

           Neto                                35.713.853              30.054.130                                             Net




                                                        125
Page 522
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                        11.     LOANS    AND      SHARIA                   FINANCING/
    PIUTANG SYARIAH (lanjutan)                                           RECEIVABLES (continued)

   g. Informasi pokok lainnya (lanjutan)                                g.   Other significant information (continued)

       ii.    Tingkat suku bunga rata-rata per tahun                         ii.    Average annual interest rates for
              untuk kredit konsumer sebesar 9,66% dan                               consumer loans are 9.66% and 10.41% for
              10,41% masing-masing untuk tahun yang                                 the years ended December 31, 2023 and
              berakhir pada tanggal 31 Desember 2023                                2022, respectively. Average annual
              dan 2022. Tingkat suku bunga rata-rata per                            interest rates for commercial loans are
              tahun untuk kredit komersial masing-                                  6.26% and 6.54% for the years ended
              masing sebesar 6,26% dan 6,54% masing-                                December      31,   2023   and    2022,
              masing untuk tahun yang berakhir pada                                 respectively.
              tanggal 31 Desember 2023 dan 2022.

       iii.   Kredit yang diberikan dijamin dengan hak                       iii.   The loans are collateralized by registered
              tanggungan atau surat kuasa memasang                                  mortgages or by powers of attorney to
              hak tanggungan atau surat kuasa untuk                                 mortgage or sell, demand deposits,
              menjual,    giro,   tabungan,    deposito                             savings deposits, time deposits, or by other
              berjangka atau jaminan lain yang                                      collaterals generally acceptable by the
              umumnya diterima oleh Bank (Catatan 18,                               Bank (Notes 18, 19 and 20).
              19 dan 20).
       iv. Bank telah menjual dan mengalihkan                                iv. The Bank has sold and transferred its
           Kredit Pemilikan Rumah (KPR) yang                                     housing loans (KPR) to PT Sarana
           dimilikinya kepada penerbit PT Sarana                                 Multigriya Finansial (Persero) based on
           Multigriya Finansial (Persero) yang                                   sale-purchase deed No. 48 dated
           tertuang dalam Akta Jual Beli No. 48                                  October 26, 2022 and Deed of Cessie
           tanggal 26 Oktober 2022 dan Akta Cessie                               No. 36 dated December 23, 2022.
           No. 36 tanggal 23 Desember 2022.
              Nilai KPR yang dijual tersebut adalah                                 The principal amount of KPR sold
              sebesar Rp373.064 yang terdiri dari 5.475                             amounted to Rp373,064 which consists of
              debitur dengan harga jual sebesar nilai                               5,475 debtors with selling price at the
              pokok KPR pada tanggal cut-off final                                  principal amount of KPR as of final cut off
              (2 Oktober 2022). Penjualan ini memenuhi                              date (October 2, 2022). This sale qualified
              kriteria penjualan putus karena risiko dan                            for derecognition as the risks and rewards
              manfaat atas kepemilikan KPR secara                                   of ownership over the KPR have been
              signifikan telah dialihkan kepada pembeli.                            substantially transferred to the buyer.

       v.     Bank telah menjual dan mengalihkan                             v.     The Bank has sold and transferred its
              Kredit Pemilikan Rumah (KPR) yang                                     housing loans (KPR) to PT Sarana
              dimilikinya kepada penerbit PT Sarana                                 Multigriya Finansial (Persero) based on
              Multigriya Finansial (Persero) yang                                   sale-purchase deed No. 33 dated
              tertuang dalam Akta Jual Beli No. 33                                  July 28, 2023 and Deed of Cessie
              tanggal 28 Juli 2023 dan Akta Cessie No.                              No. 28 dated September 26, 2023.
              28 tanggal 26 September 2023.

              Nilai KPR yang dijual tersebut adalah                                 The principal amount of KPR sold
              sebesar Rp599.359 yang terdiri dari 4.330                             amounted to Rp599,359 which consists of
              debitur dengan harga jual sebesar nilai                               4,330 debtors with selling price at the
              pokok KPR pada tanggal cut-off final                                  principal amount of KPR as of final cut off
              (4 Juli 2023). Penjualan ini memenuhi                                 date (July 4, 2023). This sale qualified for
              kriteria penjualan putus karena risiko dan                            derecognition as the risks and rewards of
              manfaat atas kepemilikan KPR secara                                   ownership over the KPR have been
              signifikan telah dialihkan kepada pembeli.                            substantially transferred to the buyer.




                                                           126
Page 523
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                      11.     LOANS    AND      SHARIA                   FINANCING/
    PIUTANG SYARIAH (lanjutan)                                         RECEIVABLES (continued)

   g. Informasi pokok lainnya (lanjutan)                              g.   Other significant information (continued)

       vi. Pada tanggal 29 Desember 2023, Bank                             vi. On December 29, 2023, the Bank sold
           menjual kredit yang diberikan tertentu                              certain loans to PT AMC Padma Jaya
           kepada PT AMC Padma Jaya (“AMC”)                                    ("AMC") in the amount of Rp872,378,
           sejumlah Rp872.378 dimana nilai tercatat                            where the gross carrying value of the
           bruto atas pokok adalah Rp860.503 dan                               principal was Rp860,503 and the interest
           tagihan bunga adalah Rp11.875. Bank                                 receivable was Rp11,875. The bank had
           sebelumnya telah membentuk cadangan                                 previously established a full allowance for
           kerugian penurunan nilai secara penuh                               impairment losses so that the carrying
           sehingga nilai tercatatnya adalah Rpnihil.                          value was Rpnil. The sale of the credit
           Penjualan kredit yang diberikan ini                                 granted was carried out through a sale and
           dilakukan melalui akta jual beli dan cessie                         purchase deed and cessie dated
           tertanggal 29 Desember 2023 dan sejak                               December 29, 2023 and from that date the
           tanggal tersebut Bank menghentikan                                  Bank stopped recognizing the credit. In
           pengakuan kredit tersebut. Sesuai dengan                            accordance with the provisions of the sale
           ketentuan dalam akta jual beli dan cessie                           and purchase deed and cessie, the Bank
           tersebut, Bank telah mengalihkan seluruh                            has transferred all rights to cash flows and
           hak atas arus kas dan juga mengalihkan                              also transferred all risks and benefits of the
           seluruh risiko dan manfaat atas kredit yang                         credit granted for sale. Therefore, the Bank
           diberikan yang dijual tersebut. Oleh karena                         derecognized this credit and recognized
           itu, Bank menghentikan pengakuan atas                               the recovery of all previously established
           kredit yang diberikan ini dan mengakui                              allowances for impairment losses.
           pemulihan seluruh cadangan kerugian
           penurunan       nilai     yang     dibentuk
           sebelumnya.

           Pada tanggal yang sama, Bank membeli                                 On the same date, the Bank purchased
           surat berharga syariah yaitu Sukuk                                   sharia securities, namely Sukuk Wakalah
           Wakalah BI Al-Istitsmar (“Sukuk”) yang                               BI Al-Istitsmar ("Sukuk") issued by PT
           diterbitkan oleh PT Angkasa Pura I                                   Angkasa Pura I (Persero) from the
           (Persero) dari Subsidiary of Enterprise                              Subsidiary      of     Enterprise   ("SOE")
           (“SOE”) Wijayakusuma Fund dengan nilai                               Wijayakusuma Fund with a value of
           sebesar Rp2.268.378. Sukuk ini telah                                 Rp2,268,378. This sukuk has been
           dicatat pada nilai wajarnya sebesar Rp                               recorded at its fair value of Rp1,465,100 at
           1.465.100 pada tanggal pembelian (lihat                              the date of purchase (see Note 8
           Catatan       8     (Efek-Efek)).      SOE                           (Securities)). SOE Wijayakusuma Fund is
           Wijayakusuma Fund merupakan sub fund                                 a sub fund of Namco Indonesia Raya VCC
           dari Namco Indonesia Raya VCC yang                                   which is managed by Mandiri Investment
           dikelola     oleh   Mandiri      Investment                          Management Pte. Ltd. as investment
           Management Pte. Ltd. selaku manajer                                  manager. The majority shareholder of
           investasi. Pemegang mayoritas saham                                  AMC is Raflesia Jaya Pte. Ltd. with
           AMC adalah Raflesia Jaya Pte. Ltd.                                   ownership of 99.9%, where the sole
           dengan kepemilikan sebesar 99,9%,                                    shareholder is Raflesia Jaya Pte. Ltd. is
           dimana pemegang saham tunggal Raflesia                               Namco Indonesia Raya VCC. SOE
           Jaya Pte. Ltd. adalah Namco Indonesia                                Wijayakusuma and AMC are affiliated
           Raya VCC. SOE Wijayakusuma dan AMC                                   companies. The Bank does not have share
           merupakan perusahaan terafiliasi. Bank                               ownership or involvement in activities in
           tidak memiliki kepemilikan saham ataupun                             these two entities.
           keterlibatan dalam aktivitas di dalam kedua
           entitas ini.




                                                         127
Page 524
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                         11.     LOANS    AND      SHARIA                   FINANCING/
    PIUTANG SYARIAH (lanjutan)                                            RECEIVABLES (continued)
  g.   Informasi pokok lainnya (lanjutan)                                 g.   Other significant information (continued)

            Mempertimbangkan transaksi pembelian                                   Considering that the sukuk purchase and
            sukuk dan penjualan kredit yang diberikan                              credit sales transactions provided above
            di atas dilakukan pada waktu yang sama                                 were carried out at the same time and with
            dan dengan pihak-pihak lawan yang                                      affiliated counterparties, the Bank views
            terafiliasi, Bank melihat transaksi-transaksi                          these      transactions   as    interrelated
            ini sebagai transaksi yang saling berkaitan                            transactions so that the financial impact of
            sehingga dampak keuangan dari kedua                                    both transactions is recognized in the
            transaksi diakui dalam akun beban                                      provision for impairment lossess on
            penyisihan kerugian penurunan nilai aset                               financial and non-financial aasets in the
            keuangan dan aset non keuangan pada                                    profit and loss statement Bank on the
            laporan laba rugi Bank pada tanggal                                    transaction date.
            transaksi.
       vii. Kredit yang diberikan kepada direksi dan                           vii. The loans given to the Bank’s directors and
            karyawan Bank merupakan kredit untuk                                    employees consist of loans intended for
            membeli kendaraan dan keperluan pribadi                                 purchase of vehicles and other personal
            lainnya yang dibebani bunga dengan suku                                 necessities. These loans earn an average
            bunga rata-rata pada tahun yang berakhir                                interest of 6.01% and 6.18%, for the year
            pada tanggal 31 Desember 2023 dan 2022                                  ended December 31, 2023 and 2022, with
            sebesar 6,01% dan 6,18%, dengan jangka                                  term ranging from 1 to 15 years. This loan
            waktu berkisar antara 1 sampai dengan 15                                will be repaid through employee deduction
            tahun. Kredit ini akan dibayar kembali                                  salary. Difference between employee
            melalui pemotongan gaji setiap bulan.                                   loan’s interest rates and Base Lending
            Perbedaan antara tingkat bunga pinjaman                                 Rate (BLR) is deferred and recorded as
            karyawan dan Base Lending Rate (BLR)                                    deferred expense for employee loans as
            ditangguhkan dan dicatat sebagai beban                                  part of other assets. Deferred expense for
            yang ditangguhkan untuk pinjaman                                        employee loans amounted to Rp400,702
            karyawan, bagian dari aset lain-lain.                                   and Rp459,549 as of December 31, 2023
            Besarnya akun beban yang ditangguhkan                                   and 2022, respectively (Note 16).
            untuk    pinjaman    karyawan sebesar
            Rp400.702 dan Rp459.549 pada tanggal
            31 Desember 2023 dan 2022 (Catatan 16).


       viii. Kredit yang diberikan dan pembiayaan/                             viii. As of December 31, 2023 and 2022, the
             piutang syariah kepada pihak-pihak                                      outstanding balances of loans and sharia
             berelasi pada tanggal 31 Desember 2023                                  financing/receivables from related parties
             dan     2022 masing-masing        sebesar                               amounted       to    Rp27,772,686       and
             Rp27.772.686       dan       Rp19.696.799                               Rp19,696,799, respectively (Note 43). As
             (Catatan 43). Persentase kredit yang                                    of December 31, 2023 and 2022, the
             diberikan dan pembiayaan/ piutang syariah                               percentage      of  loans     and     sharia
             dari pihak-pihak berelasi terhadap jumlah                               financing/receivables from related parties
             kredit yang diberikan dan pembiayaan/                                   represent approximately 8.32% and
             piutang syariah masing-masing pada                                      6.60%, respectively, of the total loans and
             tanggal 31 Desember 2023 dan 2022                                       sharia financing/receivables.
             adalah sebesar 8,32% dan 6,60%.




                                                            128
Page 525
                                                                                        The original financial statements included herein are in the
                                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                          unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                                        11.        LOANS    AND      SHARIA                             FINANCING/
    PIUTANG SYARIAH (lanjutan)                                                              RECEIVABLES (continued)

   g. Informasi pokok lainnya (lanjutan)                                                  g.    Other significant information (continued)

      ix. Perubahan nilai tercatat dan cadangan                                                ix. The movements in the gross carrying
          kerugian penurunan nilai kredit yang                                                     amount and allowance for impairment
          diberikan dan pembiayaan/piutang syariah                                                 losses     on     loans     and       sharia
          adalah sebagai berikut:                                                                  financing/receivables are as follows:

                                                           31 Desember/               31 Desember/
                                                          December 31, 2023         December 31, 2022

           Saldo awal tahun                                       15.674.923                   14.435.760                    Balance at beginning of year
           Penyisihan kerugian
            penurunan nilai
            selama tahun berjalan*                                                                                         Provision for impairment losses
            (Catatan 33)                                           2.907.844                    4.039.507                    during the year (Note 33)
           Penerimaan kembali kredit
            yang telah dihapusbukukan                                 77.065                        71.716                   Recovery of loans written-off
           Penghapusbukuan kredit                                (3.067.868)                   (2.872.060)                              Loans written-off

           Saldo akhir tahun                                      15.591.964                   15.674.923                     Balance at the end of year

     *) Termasuk dampak nilai wajar sukuk sebesar Rp803.278juta pada                           *) Included impact of fair value sukuk amounted Rp803,278million in
     tahun 2023.                                                                               2023.


           Perubahan nilai tercatat bruto adalah                                               Movements in the gross carrying amount are as
           sebagai berikut:                                                                    follows:
                                                               31 Desember/December 31, 2023

                                            Stage 1          Stage 2          Stage 3          Syariah*)           Total

         Kredit yang diberikan dan                                                                                                             Loans and sharia
           pembiayaan/piutang syariah                                                                                                    financing/receivables
         Saldo Awal                         220.360.764       28.662.115      17.634.686        31.624.139       298.281.704                   Beginning Balance
         Pengalihan ke:                                                                                                                               Transfer to:
           Stage 1                            6.365.574       (6.168.358)      (197.216)                   -                  -                         Stage 1
           Stage 2                         (13.235.646)       13.321.409         (85.763)                  -                  -                         Stage 2
           Stage 3                          (4.641.382)       (1.297.379)      5.938.761                   -                  -                         Stage 3

         Total saldo awal setelah                                                                                                           Total opening balance
           pengalihan                       208.849.310       34.517.787      23.290.468        31.624.139       298.281.704                       after transfer


         Pengukuran kembali bersih                                                                                                           Net remeasurement of
           nilai tercatat                  (10.575.269)        (527.760)        (491.309)       (2.944.142)      (14.538.480)                    carrying amount
         Aset keuangan baru yang                                                                                                               New financial assets
           diterbitkan atau dibeli           61.107.511          104.446       1.528.461         9.244.792         71.985.210            originated or purchased
         Aset keuangan yang                                                                                                                 Derecognized financial
           dihentikan pengakuannya         (16.016.044)        (702.994)      (1.800.346)         (443,041)      (18.962.425)                             assets
         Aset keuangan yang                                                                                                                     Written-off financial
           dihapusbuku                        (128.830)        (272.181)      (2.299.390)         (367.467)       (3.067.868)                             assets

         Total penambahan/(penurunan)                                                                                                      Total addition/(reversal)
           tahun berjalan                    34.387.368       (1.398.489)     (3.062.584)        5.490.142         35.416.437                     during the year

         Saldo akhir tahun                  243.236.678       33.119.298      20.227.884        37.114.281       333.698.141          Balance at the end of year


     *) Tidak menerapkan PSAK No. 71, ”Instrumen Keuangan”                                     *) Not applying SFAS No. 71, ”Financial Instruments”




                                                                       129
Page 526
                                                                                         The original financial statements included herein are in the
                                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                           unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                                         11.        LOANS    AND      SHARIA                             FINANCING/
    PIUTANG SYARIAH (lanjutan)                                                               RECEIVABLES (continued)
   g. Informasi pokok lainnya (lanjutan)                                                   g.    Other significant information (continued)

      ix. Perubahan nilai tercatat dan cadangan                                                 ix. The movements in the gross carrying
          kerugian penurunan nilai kredit yang                                                      amount and allowance for impairment
          diberikan dan pembiayaan/piutang syariah                                                  losses     on     loans  and   sharia
          adalah sebagai berikut: (lanjutan)                                                        financing/receivables are as follows:
                                                                                                    (continued)
           Perubahan nilai tercatat bruto adalah                                                  Movements in the gross carrying amount are
           sebagai berikut: (lanjutan)                                                            as follows: (continued)
                                                             31 Desember/December 31, 2022

                                            Stage 1            Stage 2         Stage 3          Syariah*)           Total

         Kredit yang diberikan dan                                                                                                              Loans and sharia
           pembiayaan/piutang syariah                                                                                                     financing/receivables
         Saldo Awal                         200.610.568         29.282.802     17.392.063        27.549.858       274.835.291                   Beginning Balance
         Pengalihan ke:                                                                                                                                Transfer to:
           Stage 1                           10.127.196         (9.252.362)     (874.834)                   -                 -                          Stage 1
           Stage 2                         (10.109.606)         10.556.294      (446.688)                   -                 -                          Stage 2
           Stage 3                          (4.362.863)           (678.482)     5.041.345                   -                 -                          Stage 3

         Total saldo awal setelah                                                                                                            Total opening balance
           pengalihan                       196.265.295         29.908.252     21.111.886        27.549.858       274.835.291                       after transfer


         Pengukuran kembali bersih                                                                                                            Net remeasurement of
           nilai tercatat                   (9.599.191)           (513.843)      (387.887)       (1.924.831)      (12.425.752)                    carrying amount
         Aset keuangan baru yang                                                                                                                New financial assets
           diterbitkan atau dibeli           46.634.491             72.127         31.440         7.261.078         53.999.136            originated or purchased
         Aset keuangan yang                                                                                                                  Derecognized financial
           dihentikan pengakuannya         (12.910.849)           (702.799)      (753.529)         (887.734)      (15.254.911)                             assets
         Aset keuangan yang                                                                                                                      Written-off financial
           dihapusbuku                         (28.982)           (101.622)    (2.367.224)         (374.232)       (2.872.060)                             assets

         Total penambahan/(penurunan)                                                                                                       Total addition/(reversal)
           tahun berjalan                    24.095.469         (1.246.137)    (3.477.200)        4.074.281         23.446.413                     during the year

         Saldo akhir tahun                  220.360.764         28.662.115     17.634.686        31.624.139       298.281.704          Balance at the end of year


     *) Tidak menerapkan PSAK No. 71, ”Instrumen Keuangan”                                      *) Not applying SFAS No. 71, ”Financial Instruments”

            Perubahan cadangan kerugian penurunan                                                     The movements in the allowance for
            nilai adalah sebagai berikut:                                                             impairment losses are as follows:

                                                             31 Desember/December 31, 2023

                                            Stage 1            Stage 2         Stage 3          Syariah*)           Total

         Kredit yang diberikan dan                                                                                                              Loans and sharia
           pembiayaan/piutang syariah                                                                                                     financing/receivables
         Saldo Awal                           1.694.821          3.525.156      8.884.937         1.570.009         15.674.923                  Beginning Balance

         Pengalihan ke:                                                                                                                                  Transfer to:
           Stage 1                              624.497           (525.510)       (98.987)                  -                 -                            Stage 1
           Stage 2                            (252.951)             300.934       (47.983)                  -                 -                            Stage 2
           Stage 3                            (144.285)           (178.906)       323.191                   -                 -                            Stage 3

         Total saldo awal setelah                                                                                                            Total opening balance
           pengalihan                         1.922.082          3.121.674      9.061.158         1.570.009         15.674.923                      after transfer

         Pengukuran kembali bersih                                                                                                            Net remeasurement of
           penurunan nilai                    (432.700)            655.257      3.386.320           197.060          3.805.937                  impairment losses
         Aset keuangan baru yang                                                                                                                New financial assets
           diterbitkan atau dibeli              336.406              9.214        206.860            25.218            577.698            originated or purchased
         Aset keuangan yang                                                                                                                  Derecognized financial
           dihentikan pengakuannya            (202.671)           (106.453)    (1.065.210)          (24.392)       (1.398.726)                                 assets
         Aset keuangan yang                                                                                                                      Written-off financial
           dihapusbuku                        (128.830)           (272.181)    (2.299.390)         (367.467)       (3.067.868)                               assets

         Total penambahan/(penurunan)                                                                                                       Total addition/(reversal)
           tahun berjalan                     (427.795)            285.837        228.580          (169.581)           (82.959)                    during the year

         Saldo akhir tahun                    1.494.287          3.407.511      9.289.738         1.400.428         15.591.964         Balance at the end of year


     *) Tidak menerapkan PSAK No. 71, ”Instrumen Keuangan”                                      *) Not applying SFAS No. 71, ”Financial Instruments”




                                                                         130
Page 527
                                                                                         The original financial statements included herein are in the
                                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                           unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                                         11.        LOANS    AND      SHARIA                             FINANCING/
    PIUTANG SYARIAH (lanjutan)                                                               RECEIVABLES (continued)
   g. Informasi pokok lainnya (lanjutan)                                                   g.    Other significant information (continued)
      ix. Perubahan nilai tercatat dan cadangan                                                 ix. The movements in the gross carrying
          kerugian penurunan nilai kredit yang                                                      amount and allowance for impairment
          diberikan dan pembiayaan/piutang syariah                                                  losses     on     loans  and   sharia
          adalah sebagai berikut: (lanjutan)                                                        financing/receivables are as follows:
                                                                                                    (continued)
            Perubahan cadangan kerugian penurunan                                                     The movements in the allowance for
            nilai adalah sebagai berikut: (lanjutan)                                                  impairment losses are as follows:
                                                                                                      (continued)

                                                             31 Desember/December 31, 2022

                                            Stage 1            Stage 2         Stage 3          Syariah*)           Total

         Kredit yang diberikan dan                                                                                                              Loans and sharia
           pembiayaan/piutang syariah                                                                                                     financing/receivables
         Saldo Awal                           1.209.325          2.309.833      9.646.739         1.269.863         14.435.760                  Beginning Balance

         Pengalihan ke:                                                                                                                                  Transfer to:
           Stage 1                             663.412            (499.909)      (163.503)                  -                 -                            Stage 1
           Stage 2                             (53.917)             160.278      (106.361)                  -                 -                            Stage 2
           Stage 3                             (28.068)           (175.118)        203.186                  -                 -                            Stage 3

         Total saldo awal setelah                                                                                                            Total opening balance
           pengalihan                         1.790.752          1.795.084      9.580.061         1.269.863         14.435.760                      after transfer

         Pengukuran kembali bersih                                                                                                            Net remeasurement of
           penurunan nilai                    (226.641)          1.887.803      2.066.364           477.724          4.205.250                  impairment losses
         Aset keuangan baru yang                                                                                                                New financial assets
           diterbitkan atau dibeli              300.732              4.698         15.139           238.053            558.622            originated or purchased
         Aset keuangan yang                                                                                                                  Derecognized financial
           dihentikan pengakuannya            (141.040)            (60.807)      (409.403)          (41.399)         (652.649)                                 assets
         Aset keuangan yang                                                                                                                      Written-off financial
           dihapusbuku                         (28.982)           (101.622)    (2.367.224)         (374.232)       (2.872.060)                                 assets

         Total penambahan/(penurunan)                                                                                                       Total addition/(reversal)
           tahun berjalan                      (95.931)          1.730.072       (695.124)          300.146          1.239.163                     during the year

         Saldo akhir tahun                    1.694.821          3.525.156      8.884.937         1.570.009         15.674.923         Balance at the end of year



     *) Tidak menerapkan PSAK No. 71, ”Instrumen Keuangan”                                      *) Not applying SFAS No. 71, ”Financial Instruments”


            Termasuk di dalam saldo cadangan                                                          As of December 31, 2023 and 2022, the
            kerugian adalah cadangan kerugian                                                         balance of allowance for impairment losses
            pembiayaan/piutang   syariah sebesar                                                      includes allowance for impairment losses
            Rp1.400.428 dan Rp1.570.009, masing-                                                      on sharia financing/receivables amounting
            masing pada tanggal 31 Desember 2023                                                      to    Rp1,400,428 and Rp1,570,009,
            dan 2022.                                                                                 respectively.

            Manajemen berpendapat bahwa jumlah                                                        Management believes that the amount of
            cadangan kerugian penurunan nilai kredit                                                  allowance for impairment losses on the
            yang diberikan dan pembiayaan/piutang                                                     loans and sharia financing/receivables is
            syariah yang dibentuk telah memadai.                                                      adequate.




                                                                         131
Page 528
                                                                                 The original financial statements included herein are in the
                                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                    unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                                  11.      LOANS    AND      SHARIA                    FINANCING/
    PIUTANG SYARIAH (lanjutan)                                                      RECEIVABLES (continued)
   g. Informasi pokok lainnya (lanjutan)                                           g.     Other significant information (continued)

      x.     Fungsi pengawasan kredit Bank berfokus                                      x.    The credit control function of the Bank
             pada pencegahan penurunan kualitas                                                focuses on preventing the deterioration of
             portofolio kredit dan aktivitas penyaluran                                        the quality of credit portfolio and unsound
             kredit yang tidak sehat yang dapat                                                practices in granting credit facilities that
             mengakibatkan timbulnya kerugian. Risiko                                          may result in losses. Credit risks are
             kredit dikelola dan diatasi dengan                                                managed by establishing credit limits and
             membuat pembatasan penyaluran kredit                                              setting consistent lending policies, periodic
             (credit limit) dan kebijakan penyaluran                                           monitoring of individual portfolio, and
             kredit      yang     seragam,     melakukan                                       measuring the collectibility level of credit
             pengawasan portofolio individual secara                                           portfolio.
             periodik      dan     pengukuran     tingkat
             kolektibilitas portofolio kredit.

      xi.      Dalam laporan Bank ke Otoritas Jasa                                      xi.    Based on the report submitted by the Bank
               Keuangan (OJK) disebutkan bahwa pada                                            to Financial Services Authority (OJK) as of
               tanggal 31 Desember 2023 dan 2022,                                              December 31, 2023 and 2022, the Bank is
               Bank telah mematuhi ketentuan Batas                                             in compliance with the legal lending limit
               Maksimum Pemberian Kredit (BMPK),                                               (BMPK) regulations, both for the related
               baik terhadap pihak-pihak berelasi                                              and non-related party borrowers.
               maupun kepada pihak yang tidak berelasi.

      xii.     Rasio kredit dan pembiayaan/piutang                                       xii. The ratios of non-performing loans and
               syariah yang diklasifikasikan non-                                             sharia financing/receivables to total loans
               performing terhadap jumlah kredit dan                                          and sharia financing/receivables (using the
               pembiayaan/piutang syariah (metode                                             gross and net methods) are shown in the
               gross dan neto) adalah seperti yang                                            following table:
               terlihat pada tabel berikut:

                                        31 Desember/December 31,2023        31 Desember/December 31,2022

                                        Konvensional/      Syariah/        Konvensional/         Syariah/
                  Kolektibilitas        Conventional        Sharia         Conventional           Sharia               Collectibility

             Kurang Lancar                     393.326          177.947             433.219           146.997                           Substandard
             Diragukan                         538.432          139.381             793.609            94.373                              Doubtful
             Macet                           8.231.390          568.424           7.797.611           804.491                                  Loss

                                             9.163.148          885.752           9.024.439          1.045.861
             Cadangan kerugian                                                                                                     Allowance for
              Penurunan nilai                                                                                                impairment losses
              atas NPL/NPF                  (4.770.816)       (885.752)          (5.080.285)       (1.045.861)                   for NPL/NPF

                                             4.392.332                 -          3.944.154                  -


             Kredit yang diberikan                                                                                                      Loans and
               dan pembiayaan/                                                                                                sharia financing/
               piutang syariah             296.583.860       37.114.281       266.657.565          31.624.139                      receivables

             % Non-performing
              kredit yang                                                                                                    % of Non-performing
              diberikan dan                                                                                                          loans and
              pembiayaan/                                                                                                     sharia financing/
              piutang syariah - Gross                                                                                      receivables - Gross
              (Gross NPL/NPF)                   3,09%            2,39%               3,38%              3,31%                (Gross NPL/NPF)


             % Non-performing
              kredit yang                                                                                                   % of Non-performing
              diberikan dan                                                                                                  loans and sharia
              pembiayaan/                                                                                                           financing/
              piutang syariah - Neto                                                                                        receivables - Net
              (Neto NPL/NPF)                    1,48%                 0%             1,48%                  0%                 (Net NPL/NPF)




                                                                  132
Page 529
                                                                                      The original financial statements included herein are in the
                                                                                                                            Indonesian language.

     PT BANK TABUNGAN NEGARA (PERSERO) TBK                                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
         CATATAN ATAS LAPORAN KEUANGAN                                                NOTES TO THE FINANCIAL STATEMENTS
          Tanggal 31 Desember 2023 dan untuk                                                 As of December 31, 2023
       Tahun yang Berakhir pada Tanggal Tersebut                                           and for the Year Then Ended
            (Disajikan dalam jutaan Rupiah,                                              (Expressed in millions of Rupiah,
                kecuali dinyatakan lain)                                                     unless otherwise stated)


  11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                                     11.     LOANS    AND      SHARIA                               FINANCING/
      PIUTANG SYARIAH (lanjutan)                                                        RECEIVABLES (continued)
         g. Informasi pokok lainnya (lanjutan)                                          g.     Other significant information (continued)
               xiii. NPL/NPF      Gross  dihitung   dengan                                    xiii. The Gross NPL/NPF are computed by
                     membagi antara sindikasi jumlah kredit/                                        dividing the total non-performing loans/
                     pembiayaan/piutang syariah bermasalah                                          sharia financing/receivables by the total
                     dengan      jumlah   kredit/pembiayaan                                         loans and sharia financing/receivables.
                     /piutang Syariah.
                       NPL/NPF Neto dihitung dengan membagi                                           The Net NPL/NPF ratios are computed by
                       antara jumlah kredit/pembiayaan/piutang                                        dividing   the     total   non-performing
                       syariah bermasalah setelah dikurangi                                           loans/sharia financing/receivables, net of
                       cadangan kerugian dan jumlah kredit/                                           allowance for possible losses, by the total
                       pembiayaan/piutang syariah keseluruhan.                                        loans and sharia financing/receivables.
                       Rasio NPL/NPF Gross (total konvensional                                     The Gross NPL/NPF Ratio (total
                       dan syariah) adalah 3,01% dan 3,38%                                         conventional and sharia) is 3.01% and
                       masing-masing       pada        tanggal                                     3.38% as of December 31, 2023 and 2022,
                       31 Desember 2023 dan 2022.                                                  respectively.
                       Rasio NPL/NPF Neto (total konvensional                                      The Net NPL/NPF Ratio (total conventional
                       dan syariah) adalah 1,32% dan 1,32%                                         and sharia) is 1.32% and 1.32% as of
                       masing-masing       pada       tanggal                                      December      31,  2023     and    2022,
                       31 Desember 2023 dan 2022.                                                  respectively.
               xiv. Kredit yang diberikan dan pembiayaan/                                      xiv. Non-performing     loans    and    sharia
                    piutang     syariah     non-performing                                          financing/receivables    by     economic
                    berdasarkan sektor ekonomi:                                                     sectors:
                                                           31 Desember/         31 Desember/
                                                          December 31, 2023   December 31, 2022

                    Konvensional                                                                                                           Conventional
                    Perumahan                                    8.315.467             7.794.092                                               Property
                    Konstruksi                                     534.740               904.621                                            Construction
                    Jasa Usaha                                     191.925                79.417                                        Business service
                    Perdagangan, restoran
                      dan hotel                                     87.920               173.739                         Trading, restaurant and hotel
                    Pertambangan                                    14.147                15.397                                                  Mining
                    Jasa-jasa sosial                                11.676                28.436                                          Social service
                    Transportasi, Pergudangan,                                                                           Transportation, warehousing,
                      dan Komunikasi                                 2.058                    6.387                            and communication
                    Manufaktur                                       1.235                      715                                       Manufacturing
                    Listrik, gas dan air                               959                    6.141                          Electricity, gas and water
                    Pertanian                                          117                       60                                            Farming
                    Lain-lain*)                                      2.904                   15.434                                               Other*)

                                                                 9.163.148             9.024.439

                     Syariah                                                                                                                      Sharia
                     Perumahan                                     473.449               297.621                                               Property
                     Konstruksi                                    283.130               573.570                                            Construction
                     Jasa Usaha                                    129.173               174.670                                        Business service

                                                                   885.752             1.045.861

                     Total                                      10.048.900            10.070.300                                                    Total
                     Dikurangi cadangan kerugian                                                                                         Less allowance
                        penurunan nilai                         (5.656.568)           (6.126.146)                                  for impairment losses

                     Neto                                        4.392.332             3.944.154                                                     Net

*) Terdiri dari rumah tangga dan sektor ekonomi lainnya                                  *) Consists of household and other economic sectors




                                                                        133
Page 530
                                                                                        The original financial statements included herein are in the
                                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                        As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                  and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                            unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                                         11.           LOANS    AND      SHARIA                               FINANCING/
    PIUTANG SYARIAH (lanjutan)                                                                  RECEIVABLES (continued)
   g. Informasi pokok lainnya (lanjutan)                                                    g.      Other significant information (continued)
       xv.    Rasio kredit usaha kecil (KUK) terhadap                                              xv. The ratio of small-scale enterprise loans to
              total kredit adalah sebesar 0,8% dan                                                     total loans is 0.8% and 0.44% as of
              0,44% masing-masing pada tanggal                                                         December 31, 2023 and 2022, respectively.
              31 Desember 2023 dan 2022.
       xvi. Kredit sindikasi merupakan kredit yang                                                 xvi. Syndicated loans represent loans provided
            diberikan kepada nasabah di bawah                                                           to     customers       under   syndication
            perjanjian pembiayaan bersama dengan                                                        agreements with other banks. As of
            bank-bank lain. Keikutsertaan Bank                                                          December 31, 2023 and 2022, the Bank’s
            sebagai anggota sindikasi dengan                                                            share as a co-lender in syndicated loans is
            persentase penyertaan sebesar 8,61%                                                         8.61% and 7.62% for each, respectively, of
            dan 7,62% dari jumlah kredit sindikasi                                                      the total syndicated loans.
            masing-masing     pada    tanggal   31
            Desember 2023 dan 2022.

       xvii. Kredit dan pembiayaan/piutang syariah                                                 xvii. Restructured      loans    and        sharia
             yang       direstrukturisasi  berdasarkan                                                   financing/receivables by collectibility and
             kolektibilitas dan sektor ekonomi:                                                          economic sector:
                                                                31 Desember/December 31, 2023

                                                  Dalam
                                                perhatian
                                                 khusus/         Kurang
                                Lancar/          Special         lancar/       Diragukan/           Macet/
                                Current          mention       Substandard      Doutbful            Loss              Total

     Perumahan                  27.028.674       13.252.016        344.212        302.541            5.309.171        46.236.614                          Property
     Konstruksi                  1.980.812        2.270.627         13.096          7.194              453.035         4.724.764                     Construction
     Jasa usaha                  1.657.252            7.818         14.476            176               96.484         1.776.206                 Business service
     Perdagangan, restoran                                                                                                                     Trading, restaurant
       dan hotel                   247.741            8.126              -          10.597              22.289           288.753                    and hotel
     Jasa-jasa sosial              101.841           21.709              -               -              10.091           133.641                   Social services
     Manufaktur                         52              813              -               -                 574             1.439                    Manufacturing
     Transportasi,                                                                                                                                Transportation,
       pergudangan dan                                                                                                                           warehousing
       komunikasi                2.996.673          126.911              -                  -              855         3.124.439           and communication
     Pertambangan                        -                -              -                  -           12.270            12.270                           Mining
     Lain-lain*)                    13.596            1.410              -                  -              254            15.260                           Other*)

     Total                      34.026.641       15.689.430        371.784        320.508            5.905.023        56.313.386                            Total


                                                                31 Desember/December 31, 2022

                                                  Dalam
                                                perhatian
                                                 khusus/         Kurang
                                Lancar/          Special         lancar/       Diragukan/           Macet/
                                Current          mention       Substandard      Doutbful            Loss              Total

     Perumahan                  30.595.294       11.093.003        441.112        646.733            4.635.418        47.411.560                          Property
     Konstruksi                  4.013.346          481.513         15.628         32.339              976.286         5.519.112                     Construction
     Jasa usaha                  1.234.625           21.170         10.542         10.623              137.547         1.414.507                 Business service
     Perdagangan, restoran                                                                                                                     Trading, restaurant
       dan hotel                   215.923          103.350              -              16              97.199           416.488                    and hotel
     Jasa-jasa sosial              105.371           25.335            302               -              17.854           148.862                   Social services
     Manufaktur                      1.257              776              -               -                 359             2.392                    Manufacturing
     Transportasi,                                                                                                                                Transportation,
       pergudangan dan                                                                                                                           warehousing
       komunikasi                2.998.715            6.634              -              -                1.413         3.006.762           and communication
     Pertambangan                        -                -              -              -               12.266            12.266                           Mining
     Pertanian                           -                -              -              4                    -                 4                          Farming
     Lain-lain*)                    15.199            1.432            397            134               12.413            29.575                           Other*)

     Total                      39.179.730       11.733.213        467.981        689.849            5.890.755        57.961.528                            Total


     *) Terdiri dari rumah tangga dan sektor ekonomi lainnya                                     *) Consists of household and other economic sectors




                                                                         134
Page 531
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                        11.     LOANS    AND      SHARIA                   FINANCING/
    PIUTANG SYARIAH (lanjutan)                                           RECEIVABLES (continued)

   g. Informasi pokok lainnya (lanjutan)                                 g.   Other significant information (continued)

      xvii. Kredit dan pembiayaan/piutang syariah                             xvii. Restructured     loans     and       sharia
            yang       direstrukturisasi     berdasarkan                            financing/receivables by collectibility and
            kolektibilitas    dan     sektor    ekonomi:                            economic sector: (continued)
            (lanjutan)

            Skema restrukturisasi yang disepakati                                    Restructured loans scheme agreed by
            oleh Bank dan debitur meliputi antara lain                               the Bank and its debtors include loans
            penjadwalan ulang pembayaran pokok                                       principal and interest rescheduling,
            kredit dan bunga, pembebasan tunggakan                                   overdue interest exemption, reduction of
            bunga,      penurunan   suku      bunga,                                 interest rates, additional loan facilities,
            penambahan fasilitas kredit, novasi dan                                  novation and others.
            lain-lain.

            Bank telah melakukan restrukturisasi                                     Bank has restructured its credit for
            kredit untuk debitur yang terdampak                                      debtors affected by Covid-19 pandemic
            pandemi Covid-19 sesuai dengan POJK                                      in      accordance         with      POJK
            No.       11/POJK.03/2020          “Stimulus                             No.11/POJK.03/2020                “National
            Perekonomian         Nasional       sebagai                              Economic stimulus as countercyclical
            kebijakan      countercyclical      dampak                               policy in the impact of the spread of
            penyebaran Corona Virus Disease 2019                                     Coronavirus Disease 2019” dated March
            tertanggal 13 Maret 2020 dan perubahan                                   13, 2020 and amendment POJK
            POJK No. 48/POJK.03/2020 “Perubahan                                      No.48/POJK.03/2020 “Amendment of
            atas Peraturan Otoritas Jasa Keuangan                                    POJK No.11/POJK.03/2020 Regarding
            Nomor       11/POJK.03/2020          tentang                             National    Economic        stimulus     as
            Stimulus Perekonomian Nasional sebagai                                   countercyclical policy in the impact of the
            kebijakan      countercyclical      dampak                               spread of Coronavirus Disease 2019”
            penyebaran Corona Virus Disease 2019”                                    dated December 1, 2020 and second
            tertanggal 1 Desember 2020 dan                                           amendment POJK No.17/POJK.03/2021
            perubahan       kedua        POJK        No.                             “Second     Amendment          of    POJK
            17/POJK.03/2021 “Perubahan kedua atas                                    No.11/POJK.03/2020              Regarding
            Peraturan Otoritas Jasa Keuangan Nomor                                   National    Economic        stimulus     as
            11/POJK.03/2020        tentang      Stimulus                             countercyclical policy in the impact of the
            Perekonomian         Nasional       sebagai                              spread of Coronavirus Disease 2019”
            kebijakan      countercyclical      dampak                               dated September 10, 2021. As of
            penyebaran Corona Virus Disease 2019”                                    December 31, 2023 and 2022 the total
            tertanggal     10     September        2021.                             balance of Covid-19 restructure loans
            Per tanggal 31 Desember 2023 dan 2022                                    amounted     to     Rp25,663,629       and
            total saldo kredit restrukturisasi Covid-19                              Rp33,667,902 respectively.
            masing-masing sebesar Rp25.663.629
            dan Rp33.667.902.

      xviii. Kredit yang telah dihapusbukukan oleh                            xviii. The loans written-off by the Bank are
             Bank dicatat sebagai kredit off balance                                 recorded as off balance sheet in the
             sheet di dalam rekening administratif.                                  administrative account.




                                                           135
Page 532
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


11. KREDIT YANG DIBERIKAN DAN PEMBIAYAAN/                         11.     LOANS    AND      SHARIA                   FINANCING/
    PIUTANG SYARIAH (lanjutan)                                            RECEIVABLES (continued)

    g. Informasi pokok lainnya (lanjutan)                                 g. Other significant information (continued)

       xix. Jumlah minimum cadangan kerugian                                  xix. Minimum allowance for impairment losses
            penurunan nilai kredit yang diberikan dan                              for loans and sharia financing receivables
            pembiayaan/piutang syariah, yang wajib                                 required by Financial Services Authority
            dibentuk sesuai dengan ketentuan                                       amounted      to    Rp12,641,044      and
            Otoritas Jasa Keuangan adalah sebesar                                  Rp11,909,808 as of December 31, 2023
            Rp12.641.044      dan      Rp11.909.808,                               and 2022, respectively.
            masing-masing      pada     tanggal    31
            Desember 2023 dan 2022.

    h. Informasi mengenai klasifikasi aset keuangan                      h.   Information with respect to classification of
       yang mengalami penurunan nilai dan tidak                               impaired and not impaired and credit quality of
       mengalami penurunan nilai dan kualitas kredit                          financial assets are disclosed in Note 46.
       diungkapkan pada Catatan 46.

12. TAGIHAN DAN LIABILITAS DERIVATIF                              12.     DERIVATIVE RECEIVABLE AND LIABILITIES

    Bank BTN menerapkan akuntansi lindung nilai atas                      Bank BTN implemented hedge accounting of the
    arus kas dengan tujuan untuk melindungi suatu                         cash flow with purpose to protect an instrument
    instrumen atau kelompok instrumen dari eksposur                       from exposure of cashflow variability that can be
    variabilitas arus kas yang dapat diatribusikan pada                   atributed at certain risk that related to acknowledge
    risiko tertentu yang terkait dengan aset atau                         assets or liabilities (such as all or partial of future
    liabilitas yang diakui (seperti seluruh atau sebagian                 interest payment on foreign currency debt) or which
    pembayaran bunga di masa depan atas utang                             can be atributed to certain risk that are most likely
    dengan mata uang asing) atau yang dapat                               to occur and can affect profit or loss.
    diatribusikan pada risiko tertentu yang terkait
    dengan prakiraan transaksi yang kemungkinan
    besar terjadi, dan dapat mempengaruhi laba rugi.

    Pada tanggal 10 November 2022 dan 18                                 On November 10, 2022 and November 18, 2022,
    November 2022, Bank melakukan lindung nilai                          Bank entered into cashflow hedge for interest rate
    arus kas atas suku bunga dari obligasi                               and principal of subordinated bond amounting to
    subordinasi sebesar USD 300 juta (nilai penuh)                       USD 300 milion (full amount) with cross currency
    dengan Cross Currency Swap (CCS), dengan                             swap (CCS), with notional value amount of USD 72
    nilai nosional sebesar USD 72 juta (nilai penuh).                    million (full amount).

    Pada tanggal 28 Juli 2022 Bank melakukan                             On July 28, 2022, Bank entered into cashflow
    lindung nilai arus kas atas suku bunga dan nilai                     hedge for interest rate and principal of corporate
    pokok      dari    pinjaman    korporasi  Japan                      loan Japan International Corporate Agency (JICA)
    International Cooperation Agency (JICA) sebesar                      amounting to JPY 7 billion (full amount) with cross
    JPY 7 miliar (nilai penuh) dengan Cross Currency                     currency swap (CCS), with notional value amount
    Swap (CCS), dengan nilai nosional sebesar JPY                        of JPY 3 Billion (full amount).
    3 miliar (nilai penuh).

    Pada tanggal 24 Januari 2020 Bank melakukan                          On January 24, 2020, Bank entered into cashflow
    lindung nilai arus kas atas suku bunga dan nilai                     hedge for interest rate and principal of
    pokok dari obligasi subordinasi sebesar USD 300                      Subordinated Bond amounting to USD 300 milion
    juta (nilai penuh) dengan Cross Currency Swap,                       (full amount) with cross currency swap (CCS), with
    dengan nilai nosional sebesar USD 150 juta (nilai                    notional value amount of USD 150 million (full
    penuh)                                                               amount)




                                                            136
Page 533
                                                                             The original financial statements included herein are in the
                                                                                                                   Indonesian language.

    PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
        CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
         Tanggal 31 Desember 2023 dan untuk                                           As of December 31, 2023
      Tahun yang Berakhir pada Tanggal Tersebut                                     and for the Year Then Ended
           (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
               kecuali dinyatakan lain)                                               unless otherwise stated)


 12. TAGIHAN         DAN        LIABILITAS       DERIVATIF                12. DERIVATIVE RECEIVABLE AND LIABILITIES
     (lanjutan)                                                               (continued)

        Perubahan nilai wajar dari kontrak CCS sebagai                       The changes of fair value of CCS contract as a
        instrumen lindung nilai yang ditentukan sebagai                      hedging instrument that is designated as an
        lindung nilai yang efektif (yaitu bagian yang saling                 effective hedge (that is, a part of set off) are
        hapus) diakui dalam penghasilan komprehensif                         recognized in other comprehensive income. The
        lain. Setiap sisa keuntungan/kerugian atas                           remaining gains/losses on the hedging instrument
        instrumen lindung nilai (yaitu ketidakefektifan)                     (ie. inefectiveness) of the hedge, recognized in
        untuk lindung nilai diakui dalam laba rugi.                          profit/loss.

        Sejak dimulainya akuntansi lindung nilai arus kas                    Since the inception of the cashflow hedge
        tersebut, manajemen telah memiliki dokumentasi                       accounting, management has documented the
        mengenai hubungan antara instrumen lindung                           relationship between hedging instruments and
        nilai dan item yang dilindung nilai dan juga tujuan                  hedged items as well as the objectives of risk
        manajemen risikonya serta strategi dalam                             management and strategies for engaging various
        melakukan berbagai transaksi lindung nilai.                          hedging transaction.

        Dokumentasi juga meliputi penilaian efektivitas                      The documentation also includes assessing the
        lindung nilai dari derivatif yang digunakan                          effectivieness of hedge from derivative that used as
        sebagai instrumen lindung nilai dan item yang                        hedging instrument and hedged items. This
        dilindung nilai. Penilaian ini dilakukan baik pada                   assessment is carried out both at the beginning of
        permulaan lindung nilai tersebut diterapkan dan                      the hedging applied and at later on an ongoing
        pada saat-saat berikutnya secara berkelanjutan.                      basis.


                                                       31 Desember/December 31, 2023

                                                                                                    Suku bunga yang
                                                                              Suku bunga yang          diterima/
Tanggal Transaksi/          Pihak ketiga/               Nosional/                dibayarkan/            Interest             Jatuh tempo/
 Transaction Date           Third Parties               Notional                Interest Paid          eceivable             Maturity Date
     27 Januari/                                                                                                               23 Januari/
  January 27, 2020     Standard Chartered Bank         USD25.000.000               8,30%                 4,20%              January 23, 2025
     27 Januari/                                                                                                               23 Januari/
  January 27, 2020       Deutsche Bank AG              USD25.000.000               8,30%                 4,20%              January 23, 2025
    10 November/
    November 10,                                                                                                               23 Januari/
        2022                 ANZ Bank                  USD25.000.000               6,20%                 4,20%               January 23, 2025
    10 November/
    November 10,                                                                                                              23 Januari/
        2022                 UOB Bank                  USD25.000.000               6,20%                 4,20%              January 23, 2025
    18 November/
    November 18,                                                                                                              23 Januari/
        2022           Standard Chartered Bank         USD22.000.000               6,33%                 4,20%              January 23, 2025




                                                       31 Desember/December 31, 2022

                                                                               Suku bunga yang       Suku bunga yang
Tanggal Transaksi/          Pihak ketiga/                Nosional/                dibayarkan/             diterima/           Jatuh tempo/
 Transaction Date           Third Parties                Notional                Interest Paid       Interest eceivable       Maturity Date
     27 Januari/                                                                                                                23 Januari/
  January 27, 2020     Standard Chartered Bank         USD5.000.000                    8,25%               4,20%            January 23, 2023
     27 Januari/                                                                                                                23 Januari/
  January 27, 2020     Standard Chartered Bank         USD25.000.000                   8,30%               4,20%            January 23, 2025
     27 Januari/                                                                                                                23 Januari/
  January 27, 2020        Deutsche Bank AG             USD20.000.000                   8,25%               4,20%            January 23, 2023
     27 Januari/                                                                                                                 3 Januari/
  January 27, 2020        Deutsche Bank AG             USD25.000.000                   8,30%               4,20%             January 3, 2025
    10 November/                                                                                                                23 Januari/
 November 10, 2022            ANZ Bank                 USD25.000.000                   6,20%               4,20%              January 23, 2025
    10 November/                                                                                                                23 Januari/
 November 10, 2022            UOB Bank                 USD25.000.000                   6,20%               4,20%             January 23, 2025
    18 November/                                                                                                                23 Januari/
 November 18, 2022     Standard Chartered Bank         USD22.000.000                   6,33%               4,20%             January 23, 2025
       28 Juli/                                                                                                                   10 Mei/
    July 28, 2022             ANZ Bank                JPY1.500.000.000                 6,11%               0,90%               May 10, 2023
       28 Juli/                                                                                                                   10 Mei/
    July 28, 2022             UOB Bank                JPY1.500.000.000                 6,11%               0,90%               May 10, 2023




                                                                137
Page 534
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

  PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
      CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
    Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                            unless otherwise stated)


12. TAGIHAN        DAN       LIABILITAS     DERIVATIF                12.     DERIVATIVE RECEIVABLE AND LIABILITIES
    (lanjutan)                                                               (continued)

   Selisih nilai wajar instrumen derivatif yang ditujukan                    The fair value difference of derivative instruments
   sebagai lindung nilai arus kas dan kerugian selisih                       designated as cash flow hedges and loss on foreign
   kurs atas obligasi subordinasi dalam mata uang                            exchange of subordinated bonds denominated in
   asing dicatat pada penghasilan komprehensif lain                          foreign currency were reported as other
   masing-masing pada tanggal 31 Desember 2023                               comprehensive income amounting to Rp32,346
   dan 2022. Saldo kerugian tersebut sebesar                                 and Rp49,301 as of December 31, 2023 and 2022,
   Rp32.346 dan Rp49.301 masing-masing pada                                  respectively. The amount is presented as “Effective
   tanggal 31 Desember 2023 dan 2022 disajikan                               portion of cashflow hedge” in equity.
   sebagai ”Bagian efektif lindung nilai arus kas” pada
   ekuitas.

   Ringkasan transaksi derivatif sebagai berikut:                            The summary of the derivatives transaction as
                                                                             follow:
                                            31 Desember/      31 Desember/
                                          December 31, 2023 December 31, 2022

        Tagihan Derivatif                                                                                    Derivative Receivable
        Cross currency interest                                                                              Cross currency interest
          rate swap                                  32.176                   103.939                                  rate swap

        Total                                        32.176                      103.939                                        Total




13. TAGIHAN AKSEPTASI                                                13. ACCEPTANCES RECEIVABLE

     Rincian tagihan akseptasi kepada nasabah adalah                        The details of acceptances receivable from
     sebagai berikut:                                                       customers are as follows:

    a. Berdasarkan Jenis dan Mata Uang                                      a.     By Type and Currency

                                           31 Desember/             31 Desember/
                                          December 31, 2023       December 31, 2022

        Pihak Berelasi                                                                                              Related Parties
        Surat Kredit Berdokumen                                                                                 Domestic Document
          Dalam Negeri (SKBDN)                       68.746                   131.356                            Letter of Credit

        Pihak Ketiga                                                                                                   Third Parties
        Surat Kredit Berdokumen                                                                                 Domestic Document
          Dalam Negeri (SKBDN)                      475.821                   282.045                            Letter of Credit
        Letter of Credit                                  -                     7.161                                Letter of Credit

        Total                                       544.567                   420.562                                           Total

        Cadangan kerugian                                                                                               Alowance for
          penurunan nilai                           (23.876)                      (136)                           impairment losses

        Total                                       520.691                      420.426                                        Total




                                                            138
Page 535
                                                                                         The original financial statements included herein are in the
                                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                           unless otherwise stated)


13. TAGIHAN AKSEPTASI (lanjutan)                                                  13. ACCEPTANCES RECEIVABLE (continued)

   b. Berdasarkan Kolektibilitas                                                          b.     By Collectibility

         Pada tanggal-tanggal 31 Desember 2023 dan                                              All acceptances receivables were classified as
         2022, semua tagihan akseptasi diklasifikasikan                                         current as of December 31, 2023 and 2022.
         sebagai lancar.

   c. Berdasarkan Jangka Waktu                                                            c.     By Period
                                                         31 Desember/            31 Desember/
                                                        December 31, 2023      December 31, 2022

         < 1 bulan                                                362.394                       80.697                                         < 1 month
         > 1 bulan - 3 bulan                                       27.223                       49.568                              > 1 month - 3 months
         > 3 bulan - 1 tahun                                      154.950                      290.297                                > 3 months - 1 year
         Total                                                    544.567                      420.562                                                       Total


   d.    Nilai tercatat bruto dan cadangan kerugian                                       d.     Gross carrying amount and allowance for
         penurunan nilai                                                                         impairment losses

         Perubahan nilai tercatat bruto adalah sebagai                                           Movements in the gross carrying amount are as
         berikut:                                                                                follows:
                                                               31 Desember/December 31, 2023

                                              Stage 1          Stage 2         Stage 3           Syariah*)           Total

            Tagihan akseptasi                                                                                                             Acceptances receivable
            Saldo Awal                            420.562                -                -                  -          420.562                Beginning balance

            Aset keuangan baru yang                                                                                                             New financial assets
              diterbitkan atau dibeli              488.494         56.073                 -                  -          544.567           originated or purchased
            Pembayaran kembali                   (420.562)              -                 -                  -        (420.562)                          Repayment

            Total penambahan/(penurunan)                                                                                                    Total addition/(reversal)
              tahun berjalan                       67.932          56.073                 -                  -          124.005


            Saldo akhir tahun                     488.494          56.073                 -                  -          544.567         Balance at the end of year



        *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                     *) Not applying SFAS No. 71 ”Financial Instruments”




                                                                31 Desember/December 31, 2022

                                              Stage 1          Stage 2         Stage 3           Syariah*)           Total

            Tagihan akseptasi                                                                                                             Acceptances receivable
            Saldo Awal                            454.140                -                -                  -          454.140                Beginning balance

            Aset keuangan baru yang                                                                                                             New financial assets
              diterbitkan atau dibeli              420.562               -                -                  -          420.562           originated or purchased
            Pembayaran kembali                   (454.140)               -                -                  -        (454.140)                          Repayment

            Total penambahan/(penurunan)                                                                                                    Total addition/(reversal)
              tahun berjalan                      (33.578)               -                -                  -         (33.578)


            Saldo akhir tahun                     420.562                -                -                  -          420.562         Balance at the end of year


        *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                     *) Not applying SFAS No. 71 ”Financial Instruments”




                                                                         139
Page 536
                                                                                         The original financial statements included herein are in the
                                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                           unless otherwise stated)


13. TAGIHAN AKSEPTASI (lanjutan)                                                  13. ACCEPTANCES RECEIVABLE (continued)

   d.    Nilai tercatat bruto dan cadangan kerugian                                       d.    Gross carrying amount and allowance for
         penurunan nilai (lanjutan)                                                             impairment losses (continued)

                                                                                               The movements in the allowance                                 for
         Perubahan cadangan kerugian penurunan                                                 impairment losses are as follows:
         nilai adalah sebagai berikut:

                                                                31 Desember/December 31, 2023

                                              Stage 1          Stage 2         Stage 3          Syariah*)          Total

            Tagihan akseptasi                                                                                                             Acceptances receivable
            Saldo awal                                  136              -                -                 -               136                Beginning Balance

            Aset keuangan baru yang                                                                                                             New financial assets
              diterbitkan atau dibeli               1.447          22.429                 -                            23.876             originated or purchased
            Pembayaran kembali                      (136)               -                 -                 -           (136)                            Repayment

            Total penambahan/(penurunan)                                                                                                   Total additionl/(reversal)
              tahun berjalan                        1.311          22.429                 -                 -          23.740                     during the year

            Saldo akhir tahun                       1.447          22.429                 -                 -          23.876           Balance at the end of year


        *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                      *) Not applying SFAS No. 71 ”Financial Instruments”



                                                                31 Desember/December 31, 2022

                                              Stage 1          Stage 2         Stage 3          Syariah*)          Total

            Tagihan akseptasi                                                                                                                    Acceptances
            receivable
            Saldo awal                                  623              -                -                 -               623                 Beginning Balance

            Aset keuangan baru yang                                                                                                             New financial assets
              diterbitkan atau dibeli                  136                                                                   136          originated or purchased
            Pembayaran kembali                       (623)               -                -                 -              (623)                         Repayment

            Total penambahan/(penurunan)                                                                                                   Total additionl/(reversal)
              tahun berjalan                         (487)               -                -                 -              (487)                  during the year

            Saldo akhir tahun                           136              -                -                 -               136         Balance at the end of year


        *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                   *) Not applying SFAS No. 71 ”Financial Instruments”


        Bank melakukan penilaian atas penurunan nilai                                          The Bank assessed acceptance receivables
        tagihan akseptasi secara kolektif.                                                     collectively for impairment.

        Manajemen     berpendapat    bahwa jumlah                                              The management believes that the allowance
        cadangan kerugian atas tagihan yang dibentuk                                           for impairment losses provided on acceptances
        telah memadai.                                                                         receivable is adequate.




                                                                         140
Page 537
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                            unless otherwise stated)


14. ASET TETAP                                                     14. PREMISES AND EQUIPMENT

   Akun ini terdiri dari:                                                This account consists of:
                                                31 Desember/December 31, 2023

                                                                  Penambahan/         Pengurangan/
                             Saldo Awal/                          Reklasifikasi/      Reklasifikasi/     Saldo Akhir/
                              Beginning        Revaluasi/           Additions/         Deductions/         Ending
                               Balance         Revaluation       Reclassifications   Reclassifications    Balance

   Biaya/nilai revaluasi                                                                                                 Cost/revaluation value
   Tanah                         4.406.143           57.208               84.830                     -     4.548.181                        Land
   Bangunan                      1.730.187                -              130.748                     -     1.860.935                    Buildings

   Peralatan kantor dan                                                                                                 Office furniture, fixtures,
       kendaraan bermotor        3.673.813                   -           437.474                     -     4.111.287        and motor vehicle

                                 9.810.143           57.208              653.052                     -    10.520.403
                                                                                                                                Constructions in
   Aset dalam penyelesaian          69.685                   -          1.684.492           (119.975)      1.634.202                progress


                                 9.879.828           57.208             2.337.544           (119.975)     12.154.605
   Aset hak guna                   720.020                                205.957           (126.836)        799.141       Right of use of asset

                               10.599.848            57.208             2.543.501           (246.811)     12.953.746

                                                                                                                                   Accumulated
   Akumulasi penyusutan                                                                                                           depreciation
   Bangunan                       862.248                    -             75.928                    -       938.176                   Buildings
                                                                                                                                Office furniture,
   Peralatan kantor dan                                                                                                          fixtures and
       kendaraan bermotor        3.007.502                   -           413.946                     -     3.421.448           motor vehicles

                                 3.869.750                   -           489.874                    -      4.359.624
   Aset hak guna                   376.295                   -           226.851            (126.836)        476.310       Right of use of asset

                                 4.246.045                   -           716.725            (126.836)      4.835.934

   Nilai Buku Neto               6.353.803                                                                 8.117.812            Net Book Value


                                             31 Desember/December 31, 2022

                                                                  Penambahan/         Pengurangan/
                             Saldo Awal/                          Reklasifikasi*)/    Reklasifikasi/     Saldo Akhir/
                              Beginning        Revaluasi/           Additions/         Deductions/           Ending
                               Balance         Revaluation       Reclassifications   Reclassifications      Balance
   Biaya/nilai revaluasi                                                                                                 Cost/revaluation value
   Tanah                         3.981.531          200.574              224.038                     -     4.406.143                       Land
   Bangunan                      1.645.843                -               84.344                     -     1.730.187                   Buildings
                                                                                                                                Office furniture,
   Peralatan kantor dan                                                                                                          fixtures and
       kendaraan bermotor        3.188.072                   -           485.741                     -     3.673.813           motor vehicles

                                 8.815.446          200.574              794.123                     -     9.810.143
                                                                                                                                   Constructions
   Aset dalam penyelesaian          71.689                   -             72.891            (74.895)         69.685               in progress

                                 8.887.135          200.574              867.014             (74.895)      9.879.828
  Aset hak guna                    581.520                -              253.379            (114.879)        720.020       Right of use of asset

                                 9.468.655          200.574             1.120.393           (189.774)     10.599.848

                                                                                                                                   Accumulated
   Akumulasi penyusutan                                                                                                           depreciation
   Bangunan                       787.416                    -             74.832                    -       862.248                   Buildings
                                                                                                                                Office furniture,
   Peralatan kantor dan                                                                                                          fixtures and
       kendaraan bermotor        2.655.788                   -           351.714                     -     3.007.502           motor vehicles

                                 3.443.204                   -           426.546                    -      3.869.750
  Aset hak guna                    288.660                   -           202.514            (114.879)        376.295       Right of use of asset

                                 3.731.864                   -           629.060            (114.879)      4.246.045

     Nilai Buku Neto             5.736.791                                                                 6.353.803            Net Book Value




                                                       141
Page 538
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                   and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                             unless otherwise stated)


14. ASET TETAP (lanjutan)                                              14. PREMISES AND EQUIPMENT (continued)
   Jumlah penyusutan aset tetap yang dibebankan pada                       Depreciation of premises and equipment and right of
   tahun yang berakhir pada tanggal 31 Desember 2023                       use asset charged to operations amounted to
   dan 2022 masing-masing sebesar Rp489.874 dan                            Rp489,874 and Rp426,546, for the year ended
   Rp426.546 (Catatan 34).                                                 December 31, 2023 and 2022, respectively (Note
                                                                           34).
   Nilai tercatat bruto dari aset tetap yang telah                         The gross carrying amount of the Bank's fully
   didepresiasi penuh oleh Bank namun masih                                depreciated premises and equipment that are still in
   digunakan     masing-masing    adalah   sebesar                         use amounted to Rp2,659,757 and Rp2,359,401 as
   Rp2.659.757 dan Rp2.359.401 pada tanggal                                of December 31, 2023 and 2022, respectively.
   31 Desember 2023 dan 2022.
   Hak atas tanah terdiri dari hak milik dan hak guna                      Landrights consist of ownership rights and rights to
   bangunan. Manajemen berpendapat bahwa jangka                            use. Management has the opinion that the terms of
   waktu hak atas tanah dapat diperbaharui atau                            the landrights can be renewed or extended upon
   diperpanjang kembali.                                                   their expiration.
   Bank telah mengasuransikan aset tetap kecuali                           The Bank insured its premises and equipment from
   tanah untuk menutup kemungkinan kerugian                                losses due to risks of fire and theft to PT Asuransi
   terhadap risiko kebakaran dan pencurian kepada                          Bina Griya (related party) on date December 31,
   PT Asuransi Bina Griya (pihak berelasi) pada                            2023 and 2022 amounting to Rp4,148,624 and
   tanggal 31 Desember 2023 dan 2022 masing-                               Rp4,565,947, respectively.
   masing sebesar Rp4.148.624 dan Rp4.565.947.
   Persentase tingkat penyelesaian aset dalam                              The percentage of completion of the constructions
   penyelesaian masing-masing pada tanggal 31                              in progress as of December 31, 2023 and 2022:
   Desember 2023 dan 2022 masing-masing adalah
   sebagai berikut:
                                               31 Desember/December 31, 2023
                                          Kisaran persentase jumlah
                                                                             Kisaran persentase
                                        tercatat terhadap nilai kontrak
                            Jumlah/                                             penyelesaian/
                                                 penyelesaian/
                            Amount                                          Range percentage of
                                          Range percentage carrying
                                                                                 completion
                                           amount to contract value
    Bangunan               1.404.028            0% - 57,70%                         0% - 57,70%                                 Building
    Non Bangunan            230.174              5% - 95%                             5% - 95%                              Non-Building


                                                31 Desember/December 31, 2022
                                          Kisaran persentase jumlah
                                                                             Kisaran persentase
                                        tercatat terhadap nilai kontrak
                           Jumlah/                                              penyelesaian/
                                                 penyelesaian/
                           Amount                                           Range percentage of
                                          Range percentage carrying
                                                                                 completion
                                           amount to contract value
    Bangunan                69.685             52,94% - 87%                        52,94% - 87%                                 Building




   Penilaian atas tanah di tahun 2016 dilakukan oleh                     The valuations of land in 2016 were performed by an
   penilai independen eksternal KJPP Immanuel,                           external independent appraiser KJPP Immanuel,
   Johnny, dan Rekan melalui laporannya pada                             Johnny, dan Rekan through its report dated April 19,
   tanggal 19 April 2016. Selanjutnya di tahun 2019,                     2016. Next in 2019, the bank revalued its land which
   Bank melakukan penilaian kembali atas tanah yang                      was done by an external independent appraiser
   dimiliki yang dilakukan oleh penilai independen                       KJPP Agus, Ali, Firdaus and Partners with its report
   eksternal KJPP Agus, Ali, Firdaus dan Rekan                           dated October 22, 2019. The bank revalued its land
   dengan laporan tertanggal 22 Oktober 2019. Bank                       in 2022 which was done by an external independent
   melakukan penilaian kembali atas tanah yang                           appraiser KJPP Aditya Iskandar and Partners with its
   dimiliki pada tahun 2022 yang dilakukan oleh penilai                  report dated December 12, 2022 which signed by
   independen eksternal KJPP Aditya Iskandar dan                         appraiser Aditya Iskandar Dwiatmaja.
   Rekan dengan laporan tertanggal 12 Desember
   2022 yang ditandatangani oleh penilai Aditya
   Iskandar Dwiatmaja.




                                                            142
Page 539
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


14. ASET TETAP (lanjutan)                                       14. PREMISES AND EQUIPMENT (continued)

   Penilaian dilakukan sesuai dengan dan tunduk                     The appraisal is carried out in accordance with and
   kepada ketentuan-ketentuan dari Kode Etik Penilai                subject to the provisions of the Indonesian Appraiser
   Indonesia (KEPI) dan berdasarkan POJK No.                        Code of Ethics (KEPI) and based on POJK No.
   28/POJK.04/2021 tanggal 30 Desember 2021                         28/POJK.04/2021 dated December 30, 2021
   tentang “Penyajian Laporan Penilaian Properti Di                 concerning "Presentation of Property Valuation
   Pasar Modal” dan Standar Penilaian Indonesia,                    Reports in the Capital Market" and Indonesian
   ditentukan berdasarkan transaksi pasar terkini dan               Valuation Standards, determined based on recent
   dilakukan dengan ketentuan-ketentuan yang lazim.                 market transactions and carried out with customary
                                                                    provisions.

   Dalam pengukuran nilai wajar tanah, Penilai                      In the fair value measurement of the land, the
   Independen memperhitungkan kemampuan peserta                     Independent Appraisers takes into account a market
   pasar untuk menghasilkan manfaat ekonomi dengan                  participant’s ability to generate economic benefits by
   penggunaan tertinggi dan terbaik atas aset atau                  using the assets in its highest and best use or by
   dengan menjual aset ke peserta pasar lain yang                   selling it to another market participant that would use
   akan menggunakan aset pada kondisi tertinggi dan                 the asset in its highest and best use. The valuation
   penggunaan terbaik. Metode penilaian yang                        method used by the Independent Appraiser is market
   digunakan oleh Penilai Independen adalah                         approach.
   pendekatan pasar.

   Informasi mengenai penilaian kembali aset tetap                  Information on the revaluation of land performed by
   untuk kelompok aset tanah yang dilakukan Bank                    the Bank in 2016, 2019, 2022 are as follows:
   tahun 2016, 2019, 2022 adalah sebagai berikut:

                                             31 Desember/December 31, 2022

                   Nilai Buku sebelum
                   Revaluasi/ Carrying           Nilai Buku setelah               Keuntungan/(Kerugian)
                     Amount Before              Revaluasi/ Carrying              Revaluasi/ Gain/(Loss) on
                       Revaluation            Amount after Revaluation                 Revaluation

    Tanah                       3.991.340                      4.191.914                           200.574                  Land

                                             31 Desember/December 31, 2019

                   Nilai Buku sebelum
                   Revaluasi/ Carrying           Nilai Buku setelah               Keuntungan/(Kerugian)
                     Amount Before              Revaluasi/ Carrying              Revaluasi/ Gain/(Loss) on
                       Revaluation            Amount after Revaluation                 Revaluation

    Tanah                       3.635.660                      3.970.391                           334.731                  Land

                                             31 Desember/December 31, 2016

                   Nilai Buku sebelum
                   Revaluasi/ Carrying           Nilai Buku setelah               Keuntungan/(Kerugian)
                     Amount Before              Revaluasi/ Carrying              Revaluasi/ Gain/(Loss) on
                       Revaluation            Amount after Revaluation                 Revaluation

    Tanah                        537.559                       3.580.298                          3.042.739                 Land

   Pada tahun 2023, Bank melakukan reklasifikasi atas                 In 2023, the Bank reclassified abandoned property
   properti terbengkalai yang memiliki nilai buku                     which has a book value of Rp25 and recognised as
   sebesar Rp25 dan melakukan pencatatan sebagai                      a fixed asset. The recording of these fixed assets is
   aset tetap. Pencatatan atas aset tetap tersebut                    based on the results of the revaluation carried out
   berdasarkan hasil penilaian kembali yang dilakukan                 by the Bank according to the market value of the
   oleh Bank sesuai dengan nilai pasar aset. Penilaian                assets. The revaluation of the abandoned property
   Kembali yang dilakukan atas properti terbengkalai                  resulted in an increase in the carrying amounting to
   tersebut menghasilkan jumlah kenaikan tercatat                     Rp57,234, where the increase in the recorded value
   sebesar Rp57.234 dimana kenaikan nilai tercatat                    arising from the revaluation was recorded as "Fixed
   yang timbul dari penilaian kembali dicatat sebagai                 Asset Revaluation Surplus", and was presented in
   “Surplus Revaluasi Aset Tetap”, dan disajikan dalam                other comprehensive income amounting to
   penghasilan komprehensif lain sebesar Rp57.208.                    Rp57,208.



                                                         143
Page 540
                                                               The original financial statements included herein are in the
                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                    unless otherwise stated)


14. ASET TETAP (lanjutan)                                     14. PREMISES AND EQUIPMENT (continued)

   Penilaian kembali yang dilakukan atas tanah pada             The revaluation of land in 2022, resulted in an
   tahun 2022 menghasilkan jumlah kenaikan nilai                increase in the carrying amount of land amounting
   tercatat sebesar Rp200.574 yang tercatat pada                to Rp200,574 which consists of the increase in the
   “Penghasilan Komprehensif Lain”. Sedangkan                   carrying amount of land recognised as “Other
   penilaian kembali yang dilakukan atas tanah pada             Comprehensive Income”. However, the revaluation
   tahun 2019, menghasilkan jumlah kenaikan nilai               of land in 2019, resulted in an increase in the
   tercatat sebesar Rp334.731 yang terdiri dari                 carrying amount of land amounting to Rp334,731
   kenaikan nilai tanah yang dicatat sebagai                    which consists of the increase in the carrying
   “Penghasilan     Komprehensif     Lain”   sebesar            amount of        land recognised       as   “Other
   Rp341.000 dan penurunan nilai tanah yang diakui              Comprehensive Income” amounting to Rp341,000
   sebagai beban tahun berjalan sebesar Rp6.269.                and a decrease in carrying amount of land
   Kenaikan nilai tercatat yang timbul dari revaluasi           recognised in the current year expenses amounting
   tahun 2016 dicatat sebagai “Surplus Revaluasi Aset           to Rp6,269. Increase in the carrying amount arising
   Tetap”,    dan    disajikan  dalam     penghasilan           from revaluation in 2016 is recorded in “Premises
   komprehensif lain sebesar Rp3.042.739.                       and Equipment Revaluation Surplus” and
                                                                presented in other comprehensive income
                                                                amounting to Rp3,042,739.

   Pada tahun 2022 dan 2019, Bank melakukan                     In 2022 and 2019, Bank has revalued the value of
   penilaian kembali atas tanah tersebut bukan untuk             that land not for tax purpose rather for the
   tujuan perpajakan tetapi hanya untuk tujuan                   accounting purpose according to the Financial
   akuntansi sesuai dengan Standar Akuntansi                     Accounting Standard.
   Keuangan.
   Penilaian kembali tanah pada tahun 2016 adalah                Revaluation of land in 2016, for tax purposes is
   untuk tujuan perpajakan dilakukan setelah                     performed after the approval from Directorate
   mendapatkan persetujuan dari Direktorat Jenderal              General of Tax through its letter No. KEP-
   Pajak dengan Surat Keputusan No. KEP-                         435/WPJ.19/2016 dated June 8, 2016. The amount
   435/WPJ.19/2016 tanggal 8 Juni 2016. Jumlah pajak             of tax which has been paid by the Bank in relation
   yang telah dibayar oleh Bank sehubungan penilaian             with the revaluation was amounting to Rp75,748.
   kembali tersebut adalah sebesar Rp75.748.

   Jika tanah dicatat sebesar harga perolehan, maka              If land is recorded at historical cost basis, the
   pada tanggal 31 Desember 2023 dan 2022 adalah                 amount as of December 31, 2023 and 2022, would
   sebesar Rp970.795 dan Rp828.757.                              be Rp970,795 and Rp828,757.

   Nilai wajar atas tanah termasuk pada hirarki nilai            The fair value of land included in the fair value
   wajar level 3.                                                hierarchy as level 3.

   Tidak ada aset tetap yang dimiliki Bank yang                  As of December 31, 2023 and 2022, there are no
   dijadikan   jaminan    pada    tanggal-tanggal                fixed assets owned by the Bank which are pledged
   31 Desember 2023 dan 2022.                                    as collateral.

   Manajemen berpendapat bahwa tidak terdapat                    Management believes that there is no impairment
   penurunan nilai aset tetap dan jumlah nilai                   in value of premises and equipments and the
   pertanggungan asuransi cukup untuk menutup risiko             amount of insurance coverage is adequate to cover
   kerugian yang mungkin timbul atas aset tetap pada             the risk of loss that may arise on the premises and
   tanggal-tanggal 31 Desember 2023 dan 2022.                    equipments as of December 31, 2023 and 2022.




                                                        144
Page 541
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


14. ASET TETAP (lanjutan)                                      14. PREMISES AND EQUIPMENT (continued)

   Bank menyewa beberapa aset termasuk bangunan,                      The Bank leases several assets including buildings,
   rumah dinas, lahan ATM, kendaraan mobil, jaringan,                 official residences, ATM space, car, network, ATM
   mesin ATM, dan media promosi. Rata-rata masa                       machine, and promotional media. The average lease
   sewa adalah 4 tahun.                                               term is 4 years.

   Bank mempunyai sewa tertentu dengan masa sewa                      The Bank also has certain leases with lease terms of
   12 bulan atau kurang dan sewa bernilai rendah.                     12 months or less and low value assets. The Bank
   Bank menerapkan pengecualian pengakuan sewa                        applies the recognition exemptions of short-term
   jangka pendek dan sewa bernilai rendah untuk sewa                  leases and low-value assets for these leases.
   tersebut.

   Nilai tercatat untuk aset hak guna adalah sebagai                  The carrying amount of right of use assets are as
   berikut:                                                           follows:

                                               31 Desember/December 31, 2023

                                Saldo Awal/                                    Saldo Akhir/
                                 Beginning      Penambahan/    Pengurangan/      Ending
                                  Balance        Additions/     Deductions/      Balance

   Nilai tercatat                                                                                              Carrying amount
   Bangunan                          565.724         118.767       (102.407)         582.084                          Buildings
   Kendaraan                         146.319          87.190        (16.570)         216.939                            Vehicle
   Mesin ATM                           7.839               -         (7.839)               -                     ATM Machine
   Lainnya                               138               -            (20)             118                             Others

                                     720.020         205.957       (126.836)         799.141

   Akumulasi penyusutan                                                                               Accumulated depreciation
   Bangunan                          297.729         151.095       (102.407)         346.417                         Buildings
   Kendaraan                          72.237          74.108        (16.569)         129.776                           Vehicle
   Mesin ATM                           6.196           1.643         (7.839)               -                    ATM Machine
   Lainnya                               133               4            (20)             117                           Others

                                     376.295         226.850       (126.835)         476.310

  Nilai Buku Neto                    343.725                                         322.831                   Net Book Value



                                               31 Desember/December 31, 2022

                                Saldo Awal/                                    Saldo Akhir/
                                 Beginning      Penambahan/    Pengurangan/      Ending
                                  Balance        Additions/     Deductions/      Balance

   Nilai tercatat                                                                                              Carrying amount
   Bangunan                          514.000         137.542        (85.818)         565.724                          Buildings
   Kendaraan                          59.433         115.837        (28.951)         146.319                            Vehicle
   Mesin ATM                           7.839               -               -           7.839                     ATM Machine
   Lainnya                               248               -           (110)             138                             Others

                                     581.520         253.379       (114.879)         720.020

   Akumulasi penyusutan                                                                               Accumulated depreciation
   Bangunan                          236.048         147.499        (85.818)         297.729                         Buildings
   Kendaraan                          47.345          53.843        (28.951)          72.237                           Vehicle
   Mesin ATM                           5.074           1.122               -           6.196                    ATM Machine
   Lainnya                               193              50           (110)             133                           Others

                                     288.660         202.514       (114.879)         376.295

  Nilai Buku Neto                   292.860                                          343.725                   Net Book Value




                                                        145
Page 542
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                   and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                             unless otherwise stated)


15. BUNGA YANG MASIH AKAN DITERIMA                                  15. INTERESTS RECEIVABLES

   Akun ini terdiri dari:                                                This account consists of:

                                               31 Desember/         31 Desember/
                                             December 31, 2023    December 31, 2022

   Kredit yang diberikan                             10.991.199           10.165.322                                       Loans
   Obligasi pemerintah                                  406.144              385.556                         Government bonds
   Efek-efek dan penempatan pada bank lain               93.842              170.468   Securities and placement with other Banks
   Derivatif                                             35.502               28.956                                   Derivative

   Total                                             11.526.687           10.750.302                                          Total



16. ASET LAIN-LAIN                                                  16. OTHER ASSETS

   Akun ini terdiri dari:                                                This account consists of:

                                               31 Desember/         31 Desember/
                                             December 31, 2023    December 31, 2022

   Pihak ketiga                                                                                                        Third party
   Tagihan kepada pihak ketiga                      1.873.496            1.040.048                        Third party receivables
   Biaya dibayar dimuka                               698.200              505.346                             Prepaid expenses
   Beban yang ditangguhkan untuk                                                                           Deferred expense for
       pinjaman karyawan (Catatan 11g)                400.702              459.549                    employee loan (Note 11g)
   Agunan yang diambil alih                            77.591               77.591                         Foreclosed collateral
   Lainnya                                            185.057              270.228                                         Others

   Total                                            3.235.046            2.352.762                                           Total


   Tagihan kepada pihak ketiga merupakan tagihan                         Third party receivables represent receivables from
   kepada nasabah dan pihak lainnya seperti tagihan                      customers and other parties such as the receivables
   kepada      Pemerintah     Republik     Indonesia                     from the Government of the Republic of Indonesia,
   (Perumpera), tagihan kepada PT Pos Indonesia                          (Perumpera) receivables from PT Pos Indonesia
   (Persero) sehubungan dengan kerja sama                                (Persero) regarding collaboration on holding
   penyelenggaraan Tabungan Batara Kantor Pos,                           Tabungan Batara Kantor Pos, and receivables from
   serta tagihan kepada PT Artajasa terkait dengan                       PT Artajasa arising from transactions with
   transaksi ATM Bersama, PT Finnet Indonesia atas                       ATM Bersama, receivables from PT Finnet
   transaksi ATM Link, PT Alto Network atas transaksi                    Indonesia arising from ATM Link’s transactions,
   ATM Alto, dan PT Rintis Sejahtera atas transaksi                      receivables from PT Alto Network arising from
   ATM Prima.                                                            transaction with ATM Alto, and receivables from PT
                                                                         Rintis Sejahtera arising from transaction with ATM
                                                                         Prima.

   Rincian biaya dibayar dimuka terutama terdiri dari                    Details of prepaid expenses consist mainly of rent
   biaya sewa dan biaya pemeliharaan gedung dan                          expenses and building and office furnitures
   peralatan kantor.                                                     maintenance expenses.




                                                            146
Page 543
                                                                               The original financial statements included herein are in the
                                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                    unless otherwise stated)


17. LIABILITAS SEGERA                                                      17. LIABILITIES DUE IMMEDIATELY

   Akun ini terdiri dari:                                                        This account consists of:

                                                   31 Desember/           31 Desember/
                                                 December 31, 2023      December 31, 2022

   Kewajiban kepada pihak ketiga                        2.384.802                  2.534.231                                Third party payables
   Hutang pajak                                                                                                                   Taxes payable
    Pajak penghasilan                                                                                                              Income tax
       Pasal 29 (Catatan 38)                              345.514                    347.774                           Article 29 (Note 38)
       Pasal 4 ayat (2)                                   157.517                    122.810                       Article (4) paragraph 2
       Pasal 21                                            95.946                     88.045                                      Article 21
       Pajak pertambahan nilai                             90.810                     32.567                               Value added tax
   Deposito berjangka jatuh tempo                          90.263                     14.058                              Matured time deposits
   Bagi hasil yang belum dibagikan                         84.951                     37.548                        Undistributed profit sharing
   Bunga atas deposito berjangka                                                                             Interest on time deposits which is
    yang belum diambil nasabah                              7.255                      2.634                  not yet collected by customers
   Lainnya                                                 20.456                     25.691                                               Others

   Total                                                3.277.514                  3.205.358                                               Total




18. GIRO                                                                   18. DEMAND DEPOSITS

   Akun ini terdiri dari:                                                        This account consists of:

                                                   31 Desember/                  31 Desember/
                                                December 31, 2023              December 31, 2022

                                     Jumlah nosional                     Jumlah nosional
                                     mata uang asing/                    mata uang asing/
                                      Notional amount                     Notional amount
                                         in foreign                          in foreign
                                         currencies       Ekuivalen/         currencies        Ekuivalen/
                                       (angka penuh/      Equivalent       (angka penuh/       Equivalent
                                        full amount)       Rupiah           full amount)        Rupiah


   Pihak ketiga                                                                                                                   Third parties
      Rupiah                                               23.347.492                           19.411.404                           Rupiah
      Dolar Amerika Serikat                  793.608           12.219            527.470             8.211              United States Dollar

                                                           23.359.711                           19.419.615

   Pihak Berelasi (Catatan 43)                                                                                       Related parties (Note 43)
      Rupiah                                              101.003.321                           92.304.844                           Rupiah
      Dolar Amerika Serikat           1.198.007.695        18.445.724       115.706.948          1.801.268             United States Dollar

                                                          119.449.045                           94.106.112

   Total                                                  142.808.756                          113.525.727                                 Total




   Pada tanggal 31 Desember 2023 dan 2022, saldo                                 As of December 31, 2023 and 2022, demand
   giro termasuk giro yang didasarkan pada prinsip                               deposits balance include deposits based on sharia
   perbankan syariah adalah masing-masing sebesar                                banking principles amounting to Rp13,439,465 and
   Rp13.439.465 dan Rp8.624.809.                                                 Rp8,624,809, respectively.




                                                                  147
Page 544
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                           As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                     and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                               unless otherwise stated)


18. GIRO (lanjutan)                                                   18. DEMAND DEPOSITS (Continued)
    Tingkat suku bunga rata-rata untuk giro Rupiah                         The average annual interest rates for Rupiah
    adalah sebesar 2,21% dan 1,59% masing-masing                           demand deposits are 2.21% and 1.59% for the year
    untuk tahun yang berakhir       pada tanggal 31                        ended December 31, 2023, and 2022, respectively,
    Desember 2023 dan 2022, dan tingkat suku bunga                         and for United States Dollar denominated demand
    rata-rata untuk giro Dolar Amerika Serikat adalah                      deposits are 4.51% and 1.03% for the year ended
    sebesar 4,51% dan 1,03% untuk tahun yang                               December 31, 2023 and 2022, respectively.
    berakhir pada tanggal 31 Desember 2023 dan
    2022.
    Giro yang digunakan sebagai jaminan atas fasilitas                     Demand deposits amounting to Rp438,578 and
    kredit yang diberikan oleh Bank pada tanggal                           Rp354,287 as of December 31, 2023 and 2022,
    31 Desember 2023 dan 2022 masing-masing                                respectively, are pledged as collateral for loans
    sebesar Rp438.578 dan Rp354.287 (Catatan 11).                          provided by the Bank (Note 11).
    Giro simpanan dari nasabah dan wadiah dari pihak-                      As of December 31, 2023 and 2022, demand
    pihak berelasi pada 31 Desember 2023 dan 2022                          deposit and wadiah demand deposits from
    masing-masing sebesar Rp119.449.045 dan                                depositors who are related parties of the bank
    Rp94.106.112 (Catatan 43).                                             amounted to Rp119,449,045 and Rp94,106,112
                                                                           (Note 43).
    Pada tahun 2023, telah dilakukan migrasi dana                          In 2023, the security deposits were migrated to the
    jaminan ke rekening giro escrow per masing-masing                      escrow demand deposits per each developer
    pengembang/nasabah           sebesar    Rp.3.044.849.                  amounted to Rp3,044,849. Previously, the security
    Sebelumnya, dana jaminan ini dicatat pada akun                         deposits were recorded in other liabilities account.
    liabilitas lain-lain. Kemudian atas akad kredit baru di                Afterwards, the new credit agreement at the end of
    akhir tahun 2023, Bank mencatat seluruh dana                           2023, the Bank will record all security deposits in the
    jaminan pada rekening giro escrow per masing-                          escrow demand deposits per each developer. As of
    masing pengembang/nasabah. Pada tanggal                                December 31, 2023, the security deposits balance
    31 Desember 2023, saldo dana jaminan yang                              in the escrow demand deposits was amounted to
    terdapat pada rekening giro escrow sebesar                             Rp3,738,754.
    Rp3.738.754.
    Dana Syirkah Temporer - Giro Mudharabah                                Temporary Syirkah Funds - Mudharabah Current
                                                                           Accounts
    a. Berdasarkan jenis produk                                             a.    By product
                                             31 Desember/             31 Desember/
                                            December 31, 2023       December 31, 2022

         Giro BTN Prima iB                            726.061                480.787                             Giro BTN Prima iB
         Total                                        726.061                480.787                                         Total


    b. Berdasarkan hubungan                                                 b.    By relationship
                                               31 Desember/           31 Desember/
                                            December 31, 2023       December 31, 2022

         Pihak Ketiga                                 712.587                468.890                                  Third Parties
         Pihak Berelasi (Catatan 43)                   13.474                 11.897                        Related Party (Note 43)

         Total                                        726.061                480.787                                           Total


         Nisbah dan tingkat bagi hasil rata-rata untuk                           The average rate of ratio and profit sharing for
         giro Mudharabah untuk tahun yang berakhir                               Mudharabah current accounts for the year
         pada 31 Desember 2023 dan 2022 adalah                                   ended December 31, 2023 and 2022 are as
         sebagai berikut:                                                        follows:
                                                              2023

                                                                        Tingkat
                                                                     bagi hasil (%)/
                                               Nisbah (%)/           Profit sharing
                                                Ratio (%)               rate (%)
         Giro Mudharabah                      12,70 : 87,30              1,28%                        Mudharabah current accounts


                                                              148
Page 545
                                                                              The original financial statements included herein are in the
                                                                                                                    Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                               As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                         and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                   unless otherwise stated)


18. GIRO (lanjutan)                                                       18. DEMAND DEPOSITS (continued)
    Dana Syirkah       Temporer - Giro Mudharabah                              Temporary Syirkah Funds - Mudharabah Current
    (lanjutan)                                                                 Accounts (continued)

    Nisbah dan tingkat bagi hasil rata-rata untuk giro                         The average rate of ratio and profit sharing for
    Mudharabah untuk tahun yang berakhir pada 31                               Mudharabah current accounts for the year ended
    Desember 2023 dan 2022 adalah sebagai berikut:                             December 31, 2023 and 2022 are as follows:
    (lanjutan)                                                                 (continued)

                                                                  2022

                                                                            Tingkat
                                                                         bagi hasil (%)/
                                                   Nisbah (%)/           Profit sharing
                                                    Ratio (%)               rate (%)
         Giro Mudharabah                            14 : 86                  1,37%                         Mudharabah current accounts

     Pada tanggal 31 Desember 2023 dan 2022 tidak                               As of December 31, 2023 and 2022, there are no
     terdapat giro mudharabah yang dijadikan jaminan.                           mudharabah demand deposits which are pledged
                                                                                as collateral.

19. TABUNGAN                                                              19. SAVINGS DEPOSITS
                                             31 Desember/                       31 Desember/
                                           December 31, 2023                   December 31, 2022
                                    Jumlah nosional                      Jumlah nosional
                                    mata uang asing/                     mata uang asing/
                                    Notional amount                      Notional amount
                                      in foreign                           in foreign
                                      currencies        Ekuivalen/         currencies       Ekuivalen/
                                    (angka penuh/       Equivalent       (angka penuh/      Equivalent
                                     full amount)        Rupiah           full amount)       Rupiah
         Rupiah                                                                                                                     Rupiah
           Tabungan Batara                                37.557.013                          36.079.695          Batara savings deposits
           Tabungan Batara Wadiah                          1.276.592                           1.193.718   Batara Wadiah savings deposit

                                                          38.833.605                          37.273.413
         Dolar Amerika Serikat                                                                                          United States Dollar
           Tabungan Batara             8.712.221              134.142         6.211.491           96.697          Batara savings deposits
         Dolar Singapura                                                                                                   Singapore Dollar
           Tabungan Batara             2.655.444               31.006          512.114             5.937          Batara savings deposits
                                                              165.148                           102.634

       Total                                              38.998.753                          37.376.047                              Total



    Pada tanggal 31 Desember 2023 dan 2022, saldo                             As of December 31, 2023 and 2022, savings
    tabungan termasuk tabungan yang didasarkan                                deposits balance include savings deposits based
    pada prinsip perbankan syariah masing-masing                              on sharia banking principles amounted to
    sebesar Rp1.276.592 dan Rp1.193.718.                                      Rp1,276,592 and Rp1,193,718, respectively.

    Tingkat suku bunga rata-rata untuk tabungan                               The average annual interest rates for rupiah
    rupiah sebesar 1,53% dan 1,44% masing-masing                              savings deposits are 1.53% and 1.44%, for the year
    untuk tahun yang berakhir pada tanggal 31                                 ended December 31, 2023 and 2022, respectively.
    Desember 2023 dan 2022. Tingkat suku bunga                                The average annual interest rates for foreign
    rata-rata untuk tabungan valas sebesar 0,21% dan                          currencies savings deposits are 0.21% and 0.16%,
    0,16% masing-masing untuk tahun yang berakhir                             for the year ended December 31, 2023 and 2022,
    pada tanggal 31 Desember 2023 dan 2022.                                   respectively.




                                                                 149
Page 546
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


19. TABUNGAN (lanjutan)                                            19. SAVINGS DEPOSITS (continued)

   Tabungan yang digunakan sebagai jaminan atas                       Savings deposits amounting to Rp594,105 and
   fasilitas kredit yang diberikan oleh Bank pada                     Rp598,326 as of December 31, 2023 and 2022,
   tanggal 31 Desember 2023 dan 2022 masing-                          respectively, are pledged as collateral for loans
   masing sebesar Rp594.105 dan Rp598.326                             provided by the Bank to its customers (Note 11).
   (Catatan 11).
   Tabungan Batara dan wadiah dari pihak-pihak                        As of December 31, 2023 and 2022, Batara and
   berelasi pada tanggal 31 Desember 2023 dan 2022                    wadiah savings deposits from depositors who are
   masing-masing      sebesar    Rp694.298     dan                    related parties of the Bank amounted to Rp694,298
   Rp526.282 (Catatan 43).                                            and Rp526,282, respectively (Note 43).

   Dana Syirkah Temporer - Tabungan Mudharabah                         Temporary Syirkah Funds - Mudharabah Savings
                                                                       Deposits

    a. Berdasarkan jenis produk                                         a.   By product

                                         31 Desember/             31 Desember/
                                        December 31, 2023       December 31, 2022

        Rupiah                                                                                                       Rupiah
        Tabungan BTN Prima iB                   5.214.570              4.602.505                      Tabungan BTN Prima iB
        Tabungan BTN Haji & Umroh iB              245.314                205.866                Tabungan BTN Haji & Umroh iB
        Tabungan BTN Emas iB                        7.266                  6.006                      Tabungan BTN Emas iB
        Tabungan Qurban BTN iB                      6.092                  4.736                     Tabungan Qurban BTN iB

        Total                                   5.473.242              4.819.113                                           Total


    b. Berdasarkan hubungan                                             b.   By relationship
                                         31 Desember/             31 Desember/
                                        December 31, 2023       December 31, 2022

        Pihak Ketiga                            5.331.275               4.730.686                                   Third Parties
        Pihak Berelasi (Catatan 43)               141.967                  88.427                         Related Party (Note 43)

        Total                                   5.473.242               4.819.113                                           Total



   Tabungan Mudharabah merupakan simpanan dana                          Mudharabah savings deposits represent deposits
   pihak lain yang mendapatkan imbalan bagi hasil dari                  from third parties who receive a share in the
   pendapatan Bank atas penggunaan dana tersebut                        revenue derived by the Bank from the use of such
   dengan nisbah yang ditetapkan dan disetujui                          funds based on a pre-determined and pre-agreed
   sebelumnya.                                                          ratio.

   Nisbah dan tingkat bagi hasil rata-rata untuk                        The average rate of ratio and profit sharing for
   tabungan Mudharabah untuk tahun yang berakhir                        Mudharabah savings deposits for the year ended
   pada 31 Desember 2023 dan 2022 adalah sebagai                        December 31, 2023 and 2022 are as follows:
   berikut:
                                                           2023

                                                                    Tingkat
                                                                 bagi hasil (%)/
                                           Nisbah (%)/           Profit sharing
                                            Ratio (%)               rate (%)

        Tabungan BTN Prima iB             34,10 : 65,90              3,42%                          Tabungan BTN Prima iB
        Tabungan BTN Haji & Umroh iB          2 : 98                 0,20%                    Tabungan BTN Haji & Umroh iB
        Tabungan Qurban BTN iB            15,50 : 84,50              1,55%                         Tabungan Qurban BTN iB
        Tabungan BTN Emas iB                 25 : 75                 2,50%                           Tabungan BTN Emas iB




                                                          150
Page 547
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                           As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                     and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                               unless otherwise stated)


19. TABUNGAN (lanjutan)                                                19. SAVINGS DEPOSITS (continued)
   Dana Syirkah Temporer - Tabungan Mudharabah                              Temporary Syirkah Funds - Mudharabah Savings
   (lanjutan)                                                               Deposits (continued)

   Nisbah dan tingkat bagi hasil rata-rata untuk                            The average rate of ratio and profit sharing for
   tabungan Mudharabah untuk tahun yang berakhir                            Mudharabah savings deposits for the year ended
   pada 31 Desember 2023 dan 2022 adalah sebagai                            December 31, 2023 and 2022 are as follows:
   berikut: (lanjutan)                                                      (continued)
                                                               2022

                                                                        Tingkat
                                                                     bagi hasil (%)/
                                                Nisbah (%)/          Profit sharing
                                                 Ratio (%)              rate (%)
        Tabungan BTN Prima iB               10,50 : 89,50                1,03%                              Tabungan BTN Prima iB
        Tabungan BTN Haji & Umroh iB        15,50 : 84,50                1,52%                        Tabungan BTN Haji & Umroh iB
        Tabungan Qurban BTN iB              15,50 : 84,50                1,52%                             Tabungan Qurban BTN iB
        Tabungan BTN Emas iB                   25 : 75                   2,44%                               Tabungan BTN Emas iB


20. DEPOSITO BERJANGKA                                                 20. TIME DEPOSITS
   a.   Tingkat suku bunga rata-rata per tahun untuk                        a.   Average annual interest rates for time deposits
        deposito berjangka adalah sebagai berikut:                               are as follows:
                                             31 Desember/             31 Desember/
                                           December 31, 2023        December 31, 2022
        Rupiah                                                                                                                  Rupiah
          1 bulan                                       4,19%                    2,86%                                       1 month
          3 bulan                                       4,93%                    3,13%                                      3 months
          6 bulan                                       4,71%                    3,13%                                      6 months
          12 bulan                                      3,59%                    3,03%                                     12 months
          24 bulan                                      4,96%                    4,51%                                     24 months

        Mata uang asing                                 4,25%                    0,36%                               Foreign currencies

   b.   Rincian deposito berjangka berdasarkan mata                         b.   The details of time deposits by currency and
        uang dan jangka waktu kontrak:                                           contract period are as follows:
                                          31 Desember/                      31 Desember/
                                        December 31, 2023                  December 31, 2022
                                 Jumlah nosional                     Jumlah nosional
                                 mata uang asing/                    mata uang asing/
                                 Notional amount                     Notional amount
                                   in foreign                          in foreign
                                   currencies       Ekuivalen/         currencies        Ekuivalen/
                                 (angka penuh/      Equivalent       (angka penuh/       Equivalent
                                  full amount)       Rupiah           full amount)        Rupiah
         Rupiah                                                                                                                 Rupiah
           1 bulan                                    42.852.585                           49.859.586                        1 month
           3 bulan                                    53.384.291                           49.971.583                       3 months
           6 bulan                                    19.375.655                           23.370.744                       6 months
           12 bulan                                   18.032.209                           10.416.465                      12 months
           24 bulan                                      285.408                           11.553.056                      24 months
                                                     133.930.148                          145.171.434
         Dolar Amerika Serikat                                                                                      United States Dollar
           1 bulan                 56.059.161            863.143          2.448.639           38.119                         1 month
           3 bulan                244.021.914          3.757.205         56.778.006          883.892                        3 months
           6 bulan                137.882.149          2.122.971          5.083.726           79.141                        6 months
           12 bulan                   287.521              4.427            473.642            7.373                       12 months
                                                       6.747.746                            1.008.525
         Dolar Singapura                                                                                               Singapore Dollar
           1 bulan                    186.901              2.182            104.900             1.216                      1 months
           3 bulan                  1.161.570             13.563            453.603             5.259                      3 months
           6 bulan                          -                  -          1.000.000            11.593                      6 months
                                                          15.745                               18.068
         Total                                       140.693.639                          146.198.027                           Total


                                                              151
Page 548
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


20. DEPOSITO BERJANGKA (lanjutan)                               20. TIME DEPOSITS (continued)

   c.   Rincian deposito berjangka berdasarkan mata                  c.     Details of time deposits by currency and
        uang dan sisa umur hingga jatuh tempo:                              remaining period to maturity are as follows:
                                         31 Desember/          31 Desember/
                                       December 31, 2023     December 31, 2022

        Rupiah                                                                                                           Rupiah
          ≤ 1 bulan                            85.190.601            66.439.113                                     ≤ 1 month
          > 1 bulan ≤ 3 bulan                  29.134.976            37.434.888                          > 1 month ≤ 3 months
          > 3 bulan ≤ 6 bulan                   9.635.943            20.558.238                         > 3 months ≤ 6 months
          > 6 bulan ≤ 12 bulan                  9.921.401             9.195.878                       > 6 months ≤ 12 months
          > 12 bulan ≤ 24 bulan                    47.227            11.543.318                      > 12 months ≤ 24 months

                                              133.930.148           145.171.435

        Dolar Amerika Serikat                                                                               United States Dollar
          ≤ 1 bulan                             4.997.452                 186.307                                  ≤ 1 month
          > 1 bulan ≤ 3 bulan                     906.749                 811.341                       > 1 month ≤ 3 months
          > 3 bulan ≤ 6 bulan                     448.970                   8.037                      > 3 months ≤ 6 months
          > 6 bulan ≤ 12 bulan                    394.575                   2.840                     > 6 months ≤ 12 months

                                                6.747.746             1.008.525

        Dolar Singapura                                                                                        Singapore Dollar
          ≤ 1 bulan                                3.596                    1.216                                     ≤ 1 month
          > 1 bulan ≤ 3 bulan                     12.149                   11.055                         > 1 month ≤ 3 months
          > 3 bulan ≤ 6 bulan                          -                    5.796                       > 1 month ≤ 3 months

                                                  15.745                   18.067

        Total                                 140.693.639           146.198.027                                         Total



   Deposito berjangka yang dijadikan jaminan atas                    As of December 31, 2023 and 2022, time deposits
   fasilitas kredit yang diberikan oleh Bank kepada                  amounting to Rp704,548 and Rp1,040,402,
   konsumennya pada tanggal 31 Desember 2023 dan                     respectively, are pledged as collateral for loans
   2022 masing-masing sebesar Rp704.548 dan                          provided by the Bank to its customers (Note 11g).
   Rp1.040.402 (Catatan 11g).

   Deposito berjangka dari pihak-pihak berelasi pada                 As of December 31, 2023 and 2022, time deposits
   tanggal 31 Desember 2023 dan 2022 masing-                         from depositors who are related parties of the Bank
   masing sebesar Rp76.717.583 dan Rp79.389.842                      amounted to Rp76,717,583 and Rp79,389,842,
   (Catatan 43).                                                     respectively (Note 43).

   Dana Syirkah Temporer - Deposito Mudharabah                       Temporary Syirkah Funds - Mudharabah Time
                                                                     Deposits
   a.   Berdasarkan jangka waktu kontrak                             a.      By contractual period

                                         31 Desember/          31 Desember/
                                       December 31, 2023     December 31, 2022

        1 bulan                               7.144.730             10.306.290                                        1 month
        3 bulan                               8.653.688              5.096.193                                       3 months
        6 bulan                               3.245.297              4.060.838                                       6 months
        12 bulan                              1.833.604                 58.587                                      12 months
        24 bulan                                  6.238                  1.649                                      24 months

        Total                                20.883.557             19.523.557                                            Total




                                                       152
Page 549
                                                                              The original financial statements included herein are in the
                                                                                                                    Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                               As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                         and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                   unless otherwise stated)


20. DEPOSITO BERJANGKA (lanjutan)                                          20. TIME DEPOSITS (continued)

   Dana Syirkah Temporer - Deposito Mudharabah                                  Temporary Syirkah Funds - Mudharabah Time
   (lanjutan)                                                                   Deposits (continued)

   b.   Berdasarkan sisa umur jatuh tempo                                       b.       By remaining period to maturity

                                                  31 Desember/            31 Desember/
                                                December 31, 2023       December 31, 2022

        < 1 bulan                                       7.144.730              12.300.037                                   < 1 month
        > 1 bulan ≤ 3 bulan                             8.653.688               3.169.127                        > 1 month ≤ 3 months
        > 3 bulan ≤ 6 bulan                             3.245.297               4.025.968                       > 3 months ≤ 6 months
        > 6 bulan ≤ 12 bulan                            1.833.604                  27.682                      > 6 months ≤ 12 months
        > 12 bulan ≤ 24 bulan                               6.238                     743                     > 12 months ≤ 24 months

        Total                                         20.883.557               19.523.557                                          Total


   c.   Berdasarkan hubungan                                                    c.       By relationship

                                                  31 Desember/            31 Desember/
                                                December 31, 2023       December 31, 2022

        Pihak Ketiga                                  11.975.188               11.886.366                                 Third Parties
        Pihak Berelasi (Catatan 43)                    8.908.369                7.637.191                       Related Party (Note 43)

        Total                                         20.883.557               19.523.557                                        Total


   Deposito mudharabah merupakan investasi pihak                                 Mudharabah time deposits represent investment
   lain yang mendapatkan imbalan bagi hasil dari                                 from other parties who receive share in the income
   pendapatan atas penggunaan dana tersebut                                      derived from the use of such funds based on a
   dengan       nisbah   yang  ditetapkan    dan                                 predetermined and pre-agreed ratio.
   disetujui sebelumnya.

   Nisbah dan tingkat bagi hasil rata-rata untuk                                 The average rate of ratio and profit sharing for
   deposito mudharabah untuk tahun yang berakhir                                 mudharabah time deposits for the year ended
   pada tanggal 31 Desember 2023 dan 2022 adalah                                 December 31, 2023 and 2022, are as follows:
   sebagai berikut:

                                               31 Desember/                     31 Desember/
                                             December 31, 2023                December 31, 2022

                                                        Tingkat                               Tingkat
                                                      bagi hasil (%)/                       bagi hasil (%)/
                                      Nisbah (%)/     Profit sharing      Nisbah (%)/       Profit sharing
                                       Ratio (%)         rate (%)          Ratio (%)           rate (%)
           1 bulan                    29,50 : 70,50      2,95%           29,50 : 70,50          2,88%                         1 month
           3 bulan                    29,50 : 70,50      2,95%           29,50 : 70,50          2,88%                        3 months
           6 bulan                    29,50 : 70,50      2,95%           29,50 : 70,50          2,88%                        6 months
           12 bulan                   29,50 : 70,50      2,95%           29,50 : 70,50          2,88%                       12 months
           24 bulan                   29,50 : 70,50      2,95%               39 : 61            3,81%                       24 months

   Pada tanggal 31 Desember 2023 dan 2022 tidak                                  As of December 31, 2023 and 2022, there are no
   terdapat deposito mudharabah yang dijadikan                                   mudharabah time deposits which are pledged as
   jaminan.                                                                      collateral.




                                                                 153
Page 550
                                                                              The original financial statements included herein are in the
                                                                                                                    Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                    unless otherwise stated)


21. SIMPANAN DARI BANK LAIN                                               21. DEPOSITS FROM OTHER BANKS
   Tingkat suku bunga rata-rata per tahun untuk                                 Average annual interest rates for deposits from
   simpanan dari bank lain adalah sebagai berikut:                              other banks are as follows:
                                               31 Desember/             31 Desember/
                                             December 31, 2023        December 31, 2022

   Giro                                                     1,12%                  0,99%                                Demand Deposit
   Deposito                                                 4,69%                  2,75%                                  Time Deposits
   Inter-bank call money                                    5,65%                  3,40%                           Inter-bank call money
   Rincian simpanan dari bank lain berdasarkan sisa                             Details of deposits from other banks by remaining
   umur sampai dengan saat jatuh tempo adalah                                   period to maturity are as follows:
   sebagai berikut:
                                                   31 Desember/December 31, 2023

                            ≤ 1 bulan/     > 1 - 3 bulan/    > 3 - 6 bulan/   > 6 - 12 bulan/
                              month           months            months           months           Total

   Rupiah                                                                                                                          Rupiah
     Giro                        91.312                 -                 -                -         91.312              Demand deposits

   Total                         91.312                 -                 -                -        91.312                         Total


                                                   31 Desember/December 31, 2022

                            ≤ 1 bulan/     > 1 - 3 bulan/    > 3 - 6 bulan/   > 6 - 12 bulan/
                              month           months            months           months           Total

   Rupiah                                                                                                                          Rupiah
     Giro                       136.408                 -                 -                -       136.408               Demand deposits

  Total                         136.408                 -                 -                -       136.408                           Total


   Simpanan dari bank lain yang termasuk pihak-pihak                            As of December 31, 2023 and 2022, deposits from
   berelasi pada 31 Desember 2023 dan 2022 masing-                              other banks which are related parties of the Bank
   masing sebesar RpNihil.                                                      amounted to RpNil respectively.
   Pada tanggal 31 Desember 2023 dan 2022, tidak                                As of December 31, 2023 and 2022, there are no
   terdapat simpanan dari bank lain yang dijadikan                              deposits from other banks which are pledged as
   jaminan.                                                                     collateral.

   Dana Syirkah Temporer - Simpanan Dari Bank Lain                              Temporary Syirkah Funds - Deposits From Other
                                                                                Banks
   Akun ini terdiri dari:                                                       This account consists of:
                                              31 Desember/               31 Desember/
                                          December 31, 2023           December 31, 2022

   Pihak Ketiga                                                                                                            Third Parties
   Rupiah                                                                                                                        Rupiah
      Tabungan Mudharabah                                   14.781                       19.674            Mudharabah Saving deposits
      Giro Mudharabah                                        4.154                           56           Mudharabah Current accounts
      Deposito berjangka Mudharabah                          4.300                       19.089             Mudharabah Time deposits

   Total                                                    23.235                       38.819                                  Total



   Simpanan bank lain berdasarkan dana syirkah                                  Deposits from other banks based on temporary
   temporer yang termasuk pihak-pihak berelasi pada                             syirkah funds which are related parties of the Bank
   tanggal 31 Desember 2023 dan 2022 masing-                                    as of December 31, 2023 and 2022 amounted to
   masing sebesar RpNihil.                                                      RpNil, respectively.




                                                                154
Page 551
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


21. SIMPANAN DARI BANK LAIN (lanjutan)                           21. DEPOSITS FROM OTHER BANKS (continued)

   Dana Syirkah Temporer - Simpanan Dari Bank Lain                   Temporary Syirkah Funds - Deposits From Other
   (lanjutan)                                                        Banks (continued)
   Tabungan dan giro Mudharabah merupakan                            Mudharabah savings deposits and current account
   simpanan dana pihak lain yang mendapatkan                         represent deposits from third parties who receive
   imbalan bagi hasil dari pendapatan Bank atas                      a share in the revenue earned by the Bank from
   penggunaan dana tersebut dengan nisbah yang                       the use of such funds based on a pre-determined
   ditetapkan dan disetujui sebelumnya.                              and pre-agreed ratio.
   Deposito Mudharabah merupakan investasi pihak                     Mudharabah time deposits represent investment
   lain yang mendapatkan imbalan bagi hasil dari                     from other parties who receive share in the income
   pendapatan atas penggunaan dana tersebut                          derived from the use of such funds based on a
   dengan nisbah yang ditetapkan dan disetujui                       predetermined and pre-agreed ratio.
   sebelumnya.

   Berdasarkan tingkat suku bunga dan bagi hasil per                 By annual interest rates and profit sharing:
   tahun:
                                         31 Desember/             31 Desember/
                                     December 31, 2023         December 31, 2022

    Giro mudharabah                                1,28%                   1,37%            Mudharabah demand deposits
    Tabungan mudharabah                            3,42%                   1,03%             Mudharabah saving deposits
    Deposito berjangka mudharabah                  2,95%                   2,88%              MudharabahTime deposits
   Pada tanggal 31 Desember 2023 dan 2022, tidak                      As of December 31, 2023 and 2022, there are no
   terdapat simpanan dari bank lain mudharabah yang                   mudharabah deposits from other banks which are
   dijadikan jaminan.                                                 pledged as collateral.


22. LIABILITAS AKSEPTASI                                         22. ACCEPTANCES PAYABLE
    Rincian liabilitas akseptasi kepada nasabah adalah                The details of acceptances payable from customers
    sebagai berikut:                                                  are as follows:
    a. Berdasarkan Jenis dan Mata Uang                                a.   By Type and Currency
                                         31 Desember/            31 Desember/
                                       December 31, 2023       December 31, 2022

      Rupiah                                                                                                            Rupiah
      Pihak ketiga                                                                                                Third Parties
       Surat Kredit Berdokumen                                                                             Domestic Document
         Dalam Negeri (SKBDN)                    320.522                     294.876                        Letter of Credit
       Letter of Credit                                -                       7.161                            Letter of Credit

      Pihak berelasi (Catatan 43)                                                                     Related parties (Note 43)
        Surat Kredit Berdokumen                                                                          Domestic Document
          Dalam Negeri (SKBDN)                   224.045                     118.525                       Letter of Credit

      Total                                      544.567                     420.562                                    Total


    b. Berdasarkan Jangka Waktu:                                      b.    By Period
                                         31 Desember/      31 Desember/
                                        December 31, 2023 December 31, 2022

       < 1 bulan                                 362.394                      80.697                             < 1 month
       > 1 bulan - 3 bulan                        27.223                      49.568                  > 1 month - 3 months
       > 3 bulan - 1 tahun                       154.950                     290.297                    > 3 months - 1 year

      Total                                      544.567                     420.562                                    Total




                                                         155
Page 552
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                            unless otherwise stated)


23. SURAT-SURAT               BERHARGA             YANG             23. SECURITIES ISSUED
    DITERBITKAN
                                              31 Desember/          31 Desember/
                                            December 31, 2023    December 31, 2022
   Rupiah                                                                                                                 Rupiah
  Long Term Note Yang Dilakukan Tanpa                                                                  Long Term Notes Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2021 Tahap I                                                                              Negara 2021 Phase I
     Pihak berelasi (Catatan 43)                        8.872                9.529                 Related parties (Note 43)
  Long Term Note II Yang Dilakukan Tanpa                                                             Long Term Notes II Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2022 Seri A                                                                               Negara 2022 Series A
     Pihak berelasi (Catatan 43)                      43.552                46.903                 Related parties (Note 43)
  Long Term Note II Yang Dilakukan Tanpa                                                             Long Term Notes II Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2022 Seri B                                                                               Negara 2022 Series B
     Pihak berelasi (Catatan 43)                      72.652                78.033                 Related parties (Note 43)
  Long Term Note III Yang Dilakukan Tanpa                                                           Long Term Notes III Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2022 Tahap I                                                                              Negara 2022 Phase I
     Pihak berelasi (Catatan 43)                     196.324               210.866                 Related parties (Note 43)
  Long Term Note III Yang Dilakukan Tanpa                                                           Long Term Notes III Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2022 Tahap II                                                                             Negara 2022 Phase II
     Pihak berelasi (Catatan 43)                     121.979               131.185                 Related parties (Note 43)
  Long Term Note IV Yang Dilakukan Tanpa                                                            Long Term Notes IV Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2023 Tahap I                                                                              Negara 2023 Phase I
     Pihak berelasi (Catatan 43)                      35.245                         -             Related parties (Note 43)
  Long Term Note IV Yang Dilakukan Tanpa                                                            Long Term Notes IV Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2023 Tahap II                                                                             Negara 2023 Phase II
     Pihak berelasi (Catatan 43)                     397.517                         -             Related parties (Note 43)
  Long Term Note IV Yang Dilakukan Tanpa                                                            Long Term Notes IV Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2023 Tahap III Seri A                                                           Negara 2023 Phase III Series A
     Pihak berelasi (Catatan 43)                        6.242                        -             Related parties (Note 43)
  Long Term Note IV Yang Dilakukan Tanpa                                                            Long Term Notes IV Through
  Melalui Penawaran Umum Bank Tabungan                                                      Private Placement Bank Tabungan
  Negara Tahun 2023 Tahap III Seri B                                                           Negara 2023 Phase III Series B
     Pihak berelasi (Catatan 43)                     234.542                         -             Related parties (Note 43)
  Sukuk Mudharabah                                                                                           Sukuk Mudharabah
  Bank Tabungan Negara                                                                                 Bank Tabungan Negara
  Tahun 2023 Tahap I                                                                                             2023 Phase I
     Pihak berelasi (Catatan 43)                      90.807                         -                Related parties (Note 43)
  Sukuk Mudharabah                                                                                           Sukuk Mudharabah
  Bank Tabungan Negara                                                                                 Bank Tabungan Negara
  Tahun 2023 Tahap II                                                                                            2023 Phase II
     Pihak berelasi (Catatan 43)                     175.039                         -                Related parties (Note 43)
  Obligasi Berkelanjutan IV Tahap I
       setelah dikurangi biaya emisi yang                                                           Continuing Bonds IV Phase I
       belum diamortisasi masing-masing                                                      net of unamortized issuance cost
       sebesar Rp310 dan Rp1.366                                                             amounted to Rp310 and Rp1,366
       pada tanggal 31 Desember 2023                                                            as of December 31, 2023 and
       dan 2022                                                                                             2022, respectively
       Pihak ketiga                                   80.872               508.247                                Third parties
       Pihak berelasi (Catatan 43)                   114.818               413.387                   Related parties (Note 43)




                                                           156
Page 553
                                                                          The original financial statements included herein are in the
                                                                                                                Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                           As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                     and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                               unless otherwise stated)


23. SURAT-SURAT         BERHARGA                      YANG             23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)
                                                 31 Desember/          31 Desember/
                                               December 31, 2023    December 31, 2022
   Rupiah (lanjutan)                                                                                               Rupiah (continued)
  Obligasi Berkelanjutan IV Tahap II
       setelah dikurangi biaya emisi yang                                                                 Continuing Bonds IV Phase I
       belum diamortisasi masing-masing                                                            net of unamortized issuance cost
       sebesar Rp1.274 dan Rp1.909                                                               amounted to Rp1,274 and Rp1,909
       pada tanggal 31 Desember 2023                                                                  as of December 31, 2023 and
       dan 2022                                                                                                   2022, respectively
       Pihak ketiga                                     627.200               748.568                                   Third parties
       Pihak berelasi (Catatan 43)                      371.526               249.523                      Related parties (Note 43)
  Obligasi Berkelanjutan III Tahap II
       setelah dikurangi biaya emisi yang                                                                Continuing Bonds III Phase II
       belum diamortisasi masing-masing                                                            net of unamortized issuance cost
       sebesar Rp127 dan Rp604                                                                      amounted to Rp127 and Rp604
       pada tanggal 31 Desember 2023                                                                  as of December 31, 2023 and
       dan 2022                                                                                                   2022, respectively
       Pihak ketiga                                     279.470               454.275                                   Third parties
       Pihak berelasi (Catatan 43)                      939.903               764.621                      Related parties (Note 43)
   Obligasi Berkelanjutan III Tahap I
       setelah dikurangi biaya emisi yang                                                                 Continuing Bonds III Phase I
       belum diamortisasi masing-masing                                                            net of unamortized issuance cost
       sebesar Rp743 dan Rp1.298                                                                   amounted to Rp742 and Rp1,298
       pada tanggal 31 Desember 2023                                                                  as of December 31, 2023 and
       dan 2022                                                                                                   2022, respectively
       Pihak ketiga                                     274.409               791.541                                   Third parties
       Pihak berelasi (Catatan 43)                    1.963.848             1.446.161                      Related parties (Note 43)
    Obligasi Berkelanjutan II Tahap I
      setelah dikurangi biaya emisi yang                                                                   Continuing Bonds II Phase I
      belum diamortisasi masing-masing                                                             net of unamortized issuance cost
      sebesar Rp170 dan Rp497                                                                       amounted to Rp170 and Rp497
      pada tanggal 31 Desember 2023                                                                   as of December 31, 2023 and
      dan 2022                                                                                                    2022, respectively
      Pihak ketiga                                       29.994               182.886                                   Third parties
      Pihak berelasi (Catatan 43)                       769.837               616.616                      Related parties (Note 43)
    Obligasi Berkelanjutan I Tahap II
      setelah dikurangi biaya emisi yang                                                                Continuing Bonds I Phase II
      belum diamortisasi masing-masing                                                          net of unamortized issuance cost
      sebesar RpNihil dan Rp81                                                                      amounted to RpNil and Rp81
      pada tanggal 31 Desember 2023                                                                as of December 31, 2023 and
      dan 2022                                                                                                 2022, respectively
      Pihak ketiga                                             -            1.611.735                                Third parties
      Pihak berelasi (Catatan 43)                              -              388.184                   Related parties (Note 43)
    Negotiable Certificate of Deposits (NCD)
      setelah dikurangi diskonto                                                            Negotiable Certificate of Deposits (NCD)
      masing-masing sebesar                                                                         net of discounts amounted to
      Rp62.549 dan RpNihil                                                                                    Rp62.549 and RpNil
      pada tanggal 31 Desember 2023                                                                as of December 31, 2023 and
      dan 2022                                                                                                  2022, respectively
      Pihak ketiga                                    1.111.628                         -                             Third parties
      Pihak berelasi (Catatan 43)                       325.822                         -               Related parties (Note 43)

  Total                                               8.272.098             8.652.260                                         Total




                                                              157
Page 554
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


23. SURAT-SURAT         BERHARGA                  YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   i.    Long Term Note Yang Dilakukan Tanpa Melalui                i.    Long Term Notes Through Private Placement
         Penawaran Umum Bank Tabungan Negara                              Bank Tabungan Negara 2021 Phase I
         Tahun 2021 Tahap I

         Bank menerbitkan Long Term Note (LTN) Yang                       The Bank issued Long Term Notes (LTN) Bank
         Dilakukan Tanpa Melalui Penawaran Umum                           Tabungan Negara Through Private Placement
         Bank Tabungan Negara Tahun 2021 Tahap I                          Year 2021 Phase I with a total nominal value of
         dengan jumlah nilai nominal sebesar Rp10.186.                    Rp10,186. Such LTN were issued at 100% of
         LTN tersebut diterbitkan senilai 100% dari nilai                 their nominal value with an annual fixed interest
         nominalnya dengan tingkat bunga tetap                            rate of 1.37%, payable every three months with
         tahunan sebesar 1,37% yang dibayarkan tiap                       amortized principal and will mature on June 17,
         tiga bulanan berikut amortisasi pokok dan akan                   2037. The payment agent for LTN is PT.
         jatuh tempo pada tanggal 17 Juni 2037.                           Kustodian Sentral Efek Indonesia (KSEI). LTN
         PT. Kustodian Sentral Efek Indonesia (KSEI)                      were not rated.
         bertindak sebagai agen pembayaran. LTN ini
         tidak dilakukan pemeringkatan.

         Penerimaan bersih dari penerbitan LTN                            The net proceeds from the issuance of the
         tersebut  digunakan  untuk  penyaluran                           bonds were used to finance Tabungan
         pembiayaan Tabungan Perumahan Rakyat                             Perumahan Rakyat (Tapera) loans.
         (Tapera).

   ii.   Long Term Note II Yang Dilakukan Tanpa                     ii.   Long Term Notes II Through Private Placement
         Melalui Penawaran Umum Bank Tabungan                             Bank Tabungan Negara 2022 Series A
         Negara Tahun 2022 Seri A

         Bank menerbitkan Long Term Note (LTN) Yang                       The Bank issued Long Term Notes (LTN) Bank
         Dilakukan Tanpa Melalui Penawaran Umum                           Tabungan Negara Through Private Placement
         Bank Tabungan Negara Tahun 2022 dengan                           Year 2022 with a total nominal value of
         jumlah nilai nominal sebesar Rp47.740. LTN                       Rp47,740. Such LTN were issued at 100% of
         tersebut diterbitkan senilai 100% dari nilai                     their nominal value with an annual fixed interest
         nominalnya dengan tingkat bunga tetap                            rate of 1.37%, payable every three months with
         tahunan sebesar 1,37% yang dibayarkan tiap                       amortized principal and will mature on October
         tiga bulanan berikut amortisasi pokok dan akan                   12, 2036. The payment agent for LTN is PT.
         jatuh tempo pada tanggal 12 Oktober 2036. PT.                    Kustodian Sentral Efek Indonesia (KSEI). LTN
         Kustodian Sentral Efek Indonesia (KSEI)                          were not rated.
         bertindak sebagai agen pembayaran. LTN ini
         tidak dilakukan pemeringkatan.

         Penerimaan bersih dari penerbitan LTN                            The net proceeds from the issuance of the
         tersebut  digunakan  untuk  penyaluran                           bonds were used to finance Tabungan
         pembiayaan Tabungan Perumahan Rakyat                             Perumahan Rakyat (Tapera) loans.
         (Tapera).




                                                            158
Page 555
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


23. SURAT-SURAT         BERHARGA                 YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   iii.   Long Term Note II Yang Dilakukan Tanpa                   iii.   Long Term Notes II Through Private Placement
          Melalui Penawaran Umum Bank Tabungan                            Bank Tabungan Negara 2022 Series B
          Negara Tahun 2022 Seri B

          Bank menerbitkan Long Term Note (LTN) Yang                      The Bank issued Long Term Notes (LTN) Bank
          Dilakukan Tanpa Melalui Penawaran Umum                          Tabungan Negara Through Private Placement
          Bank Tabungan Negara Tahun 2022 dengan                          Year 2022 with a total nominal value of
          jumlah nilai nominal sebesar Rp79.379. LTN                      Rp79,379. Such LTN were issued at 100% of
          tersebut diterbitkan senilai 100% dari nilai                    their nominal value with an annual fixed interest
          nominalnya dengan tingkat bunga tetap                           rate of 0.55%, payable every three months with
          tahunan sebesar 0,55% yang dibayarkan tiap                      amortized principal and will mature on April 12,
          tiga bulanan berikut amortisasi pokok dan akan                  2037. The payment agent for LTN is PT.
          jatuh tempo pada tanggal 12 April 2037. PT.                     Kustodian Sentral Efek Indonesia (KSEI). LTN
          Kustodian Sentral Efek Indonesia (KSEI)                         were not rated.
          bertindak sebagai agen pembayaran. LTN ini
          tidak dilakukan pemeringkatan.

          Penerimaan bersih dari penerbitan LTN                           The net proceeds from the issuance of the
          tersebut  digunakan  untuk  penyaluran                          bonds were used to finance Tabungan
          pembiayaan Tabungan Perumahan Rakyat                            Perumahan Rakyat (Tapera) loans.
          (Tapera).


   iv.    Long Term Note III Yang Dilakukan Tanpa                     iv. Long Term Notes III Through Private
          Melalui Penawaran Umum Bank Tabungan                            Placement Bank Tabungan Negara 2022
          Negara Tahun 2022 Tahap I                                       Phase I

          Bank menerbitkan Long Term Note (LTN) Yang                      The Bank issued Long Term Notes (LTN) Bank
          Dilakukan Tanpa Melalui Penawaran Umum                          Tabungan Negara Through Private Placement
          Bank Tabungan Negara Tahun 2022 dengan                          Year 2022 with a total nominal value of
          jumlah nilai nominal sebesar Rp210.866. LTN                     Rp210,866. Such LTN were issued at 100% of
          tersebut diterbitkan senilai 100% dari nilai                    their nominal value with an annual fixed interest
          nominalnya dengan tingkat bunga tetap                           rate of 0.55%, payable every three months with
          tahunan sebesar 0,55% yang dibayarkan tiap                      amortized principal and will mature on June 14,
          tiga bulanan berikut amortisasi pokok dan akan                  2037. The payment agent for LTN is PT.
          jatuh tempo pada tanggal 14 Juni 2037. PT.                      Kustodian Sentral Efek Indonesia (KSEI). LTN
          Kustodian Sentral Efek Indonesia (KSEI)                         were not rated.
          bertindak sebagai agen pembayaran. LTN ini
          tidak dilakukan pemeringkatan.

          Penerimaan bersih dari penerbitan LTN                           The net proceeds from the issuance of the
          tersebut  digunakan  untuk  penyaluran                          bonds were used to finance Tabungan
          pembiayaan Tabungan Perumahan Rakyat                            Perumahan Rakyat (Tapera) loans.
          (Tapera).




                                                           159
Page 556
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


23. SURAT-SURAT         BERHARGA                YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   v.    Long Term Note III Yang Dilakukan Tanpa                  v.      Long Term Notes III Through Private Placement
         Melalui Penawaran Umum Bank Tabungan                             Bank Tabungan Negara 2022 Phase II
         Negara Tahun 2022 Tahap II

         Bank menerbitkan Long Term Note (LTN) Yang                       The Bank issued Long Term Notes (LTN) Bank
         Dilakukan Tanpa Melalui Penawaran Umum                           Tabungan Negara Through Private Placement
         Bank Tabungan Negara Tahun 2022 dengan                           Year 2022 with a total nominal value of
         jumlah nilai nominal sebesar Rp131.185. LTN                      Rp131,185. Such LTN were issued at 100% of
         tersebut diterbitkan senilai 100% dari nilai                     their nominal value with an annual fixed interest
         nominalnya dengan tingkat bunga tetap                            rate of 0.55%, payable every three months with
         tahunan sebesar 0,55% yang dibayarkan tiap                       amortized principal and will mature on March
         tiga bulanan berikut amortisasi pokok dan akan                   28, 2037. The payment agent for LTN is PT.
         jatuh tempo pada tanggal 28 Maret 2037. PT.                      Kustodian Sentral Efek Indonesia (KSEI). LTN
         Kustodian Sentral Efek Indonesia (KSEI)                          were not rated.
         bertindak sebagai agen pembayaran. LTN ini
         tidak dilakukan pemeringkatan.

         Penerimaan bersih dari penerbitan LTN                            The net proceeds from the issuance of the
         tersebut  digunakan  untuk  penyaluran                           bonds were used to finance Tabungan
         pembiayaan Tabungan Perumahan Rakyat                             Perumahan Rakyat (Tapera) loans.
         (Tapera).

   vi.   Long Term Note IV Yang Dilakukan Tanpa                        vi. Long Term Notes IV Through Private Placement
         Melalui Penawaran Umum Bank Tabungan                              Bank Tabungan Negara 2023 Phase I
         Negara Tahun 2023 Tahap I

         Bank menerbitkan Long Term Note (LTN) Yang                       The Bank issued Long Term Notes (LTN) Bank
         Dilakukan Tanpa Melalui Penawaran Umum                           Tabungan Negara Through Private Placement
         Bank Tabungan Negara Tahun 2023 dengan                           Year 2023 with a total nominal value of
         jumlah nilai nominal sebesar Rp35.898. LTN                       Rp35,898. Such LTN were issued at 100% of
         tersebut diterbitkan senilai 100% dari nilai                     their nominal value with an annual fixed interest
         nominalnya dengan tingkat bunga tetap                            rate of 0.55%, payable every three months with
         tahunan sebesar 0,55% yang dibayarkan tiap                       amortized principal and will mature on April 28,
         tiga bulanan berikut amortisasi pokok dan akan                   2037. The payment agent for LTN is PT.
         jatuh tempo pada tanggal 28 April 2037. PT.                      Kustodian Sentral Efek Indonesia (KSEI). LTN
         Kustodian Sentral Efek Indonesia (KSEI)                          were not rated.
         bertindak sebagai agen pembayaran. LTN ini
         tidak dilakukan pemeringkatan.

         Penerimaan bersih dari penerbitan LTN                            The net proceeds from the issuance of the
         tersebut  digunakan  untuk  penyaluran                           bonds were used to finance Tabungan
         pembiayaan Tabungan Perumahan Rakyat                             Perumahan Rakyat (Tapera) loans.
         (Tapera).




                                                          160
Page 557
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


23. SURAT-SURAT         BERHARGA              YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   vii. Long Term Note IV Yang Dilakukan Tanpa                   vii. Long Term Notes IV Through Private Placement
        Melalui Penawaran Umum Bank Tabungan                          Bank Tabungan Negara 2023 Phase II
        Negara Tahun 2023 Tahap II

      Bank menerbitkan Long Term Note (LTN) Yang                      The Bank issued Long Term Notes (LTN) Bank
      Dilakukan Tanpa Melalui Penawaran Umum                          Tabungan Negara Through Private Placement
      Bank Tabungan Negara Tahun 2023 dengan                          Year 2023 with a total nominal value of
      jumlah nilai nominal sebesar Rp404.745. LTN                     Rp404,745. Such LTN were issued at 100% of
      tersebut diterbitkan senilai 100% dari nilai                    their nominal value with an annual fixed interest
      nominalnya dengan tingkat bunga tetap                           rate of 1.37%, payable every three months with
      tahunan sebesar 1,37% yang dibayarkan tiap                      amortized principal and will mature on
      tiga bulanan berikut amortisasi pokok dan akan                  September 15, 2037. The payment agent for
      jatuh tempo pada tanggal 15 September 2037.                     LTN is PT. Kustodian Sentral Efek Indonesia
      PT. Kustodian Sentral Efek Indonesia (KSEI)                     (KSEI). LTN were not rated.
      bertindak sebagai agen pembayaran. LTN ini
      tidak dilakukan pemeringkatan.

      Penerimaan bersih dari penerbitan LTN                           The net proceeds from the issuance of the
      tersebut  digunakan  untuk  penyaluran                          bonds were used to finance Tabungan
      pembiayaan Tabungan Perumahan Rakyat                            Perumahan Rakyat (Tapera) loans.
      (Tapera).

   viii. Long Term Note IV Yang Dilakukan Tanpa                  viii. Long Term Notes IV Through Private Placement
         Melalui Penawaran Umum Bank Tabungan                          Bank Tabungan Negara 2023 Phase III
         Negara Tahun 2023 Tahap III Seri A                            Series A

       Bank menerbitkan Long Term Note (LTN) Yang                     The Bank issued Long Term Notes (LTN) Bank
       Dilakukan Tanpa Melalui Penawaran Umum                         Tabungan Negara Through Private Placement
       Bank Tabungan Negara Tahun 2023 dengan                         Year 2023 with a total nominal value of
       jumlah nilai nominal sebesar Rp6.242. LTN                      Rp6,242. Such LTN were issued at 100% of
       tersebut diterbitkan senilai 100% dari nilai                   their nominal value with an annual fixed interest
       nominalnya dengan tingkat bunga tetap                          rate of 0.55%, payable every three months with
       tahunan sebesar 0,55% yang dibayarkan tiap                     amortized principal and will mature on
       tiga bulanan berikut amortisasi pokok dan akan                 December 27, 2038. The payment agent for
       jatuh tempo pada tanggal 27 Desember 2038.                     LTN is PT. Kustodian Sentral Efek Indonesia
       PT. Kustodian Sentral Efek Indonesia (KSEI)                    (KSEI). LTN were not rated.
       bertindak sebagai agen pembayaran. LTN ini
       tidak dilakukan pemeringkatan.

      Penerimaan bersih dari penerbitan LTN                           The net proceeds from the issuance of the
      tersebut  digunakan  untuk  penyaluran                          bonds were used to finance Tabungan
      pembiayaan Tabungan Perumahan Rakyat                            Perumahan Rakyat (Tapera) loans.
      (Tapera).




                                                        161
Page 558
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


23. SURAT-SURAT         BERHARGA                YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   ix.   Long Term Note IV Yang Dilakukan Tanpa                    ix. Long Term Notes IV Through Private Placement
         Melalui Penawaran Umum Bank Tabungan                          Bank Tabungan Negara 2023 Phase III Series
         Negara Tahun 2023 Tahap III Seri B                            B

         Bank menerbitkan Long Term Note (LTN) Yang                     The Bank issued Long Term Notes (LTN) Bank
         Dilakukan Tanpa Melalui Penawaran Umum                         Tabungan Negara Through Private Placement
         Bank Tabungan Negara Tahun 2023 dengan                         Year 2023 with a total nominal value of
         jumlah nilai nominal sebesar Rp234.542. LTN                    Rp234,542. Such LTN were issued at 100% of
         tersebut diterbitkan senilai 100% dari nilai                   their nominal value with an annual fixed interest
         nominalnya dengan tingkat bunga tetap                          rate of 1.37%, payable every three months with
         tahunan sebesar 1,37% yang dibayarkan tiap                     amortized principal and will mature on
         tiga bulanan berikut amortisasi pokok dan akan                 December 27, 2037. The payment agent for
         jatuh tempo pada tanggal 27 Desember 2037.                     LTN is PT. Kustodian Sentral Efek Indonesia
         PT. Kustodian Sentral Efek Indonesia (KSEI)                    (KSEI). LTN were not rated.
         bertindak sebagai agen pembayaran. LTN ini
         tidak dilakukan pemeringkatan.

         Penerimaan bersih dari penerbitan LTN                          The net proceeds from the issuance of the
         tersebut  digunakan  untuk  penyaluran                         bonds were used to finance Tabungan
         pembiayaan Tabungan Perumahan Rakyat                           Perumahan Rakyat (Tapera) loans.
         (Tapera).

   x.    Sukuk Mudharabah Bank Tabungan Negara                    x.    Sukuk Mudharabah Bank Tabungan Negara
         Tahun 2023 Tahap I                                             2023 Phase I

         Bank menerbitkan Sukuk Mudharabah Jangka                       The Bank issued Long Term Sukuk
         Panjang Yang Dilakukan Tanpa Melalui                           Mudharabah Bank Tabungan Negara Through
         Penawaran Umum Bank Tabungan Negara                            Private Placement Year 2023 Phase I with a
         Tahun 2023 tahap I dengan jumlah nilai                         total nominal value of Rp92,553. Such Sukuk
         nominal sebesar Rp92.553. Sukuk tersebut                       were issued at 100% of their nominal value with
         diterbitkan senilai 100% dari nilai nominalnya                 a profit-sharing ratio of 11.00% which is
         dengan dengan nisbah bagi hasil sebesar                        calculated from profit sharing income with
         11,00% yang dihitung dari pendapatan bagi                      indication of an equivalent of 0.55%, payable
         hasil dengan indikasi bagi hasil sebesar                       every year with amortized sukuk and will mature
         ekuivalen sebesar 0,55% per tahun yang                         on October 28, 2036. The payment agent for
         dibayarkan tiap tahun berikut amortisasi dana                  Sukuk is PT. Kustodian Sentral Efek Indonesia
         sukuk dan akan jatuh tempo pada tanggal 28                     (KSEI). Sukuk were not rated.
         Oktober 2036. PT. Kustodian Sentral Efek
         Indonesia (KSEI) bertindak sebagai agen
         pembayaran. Sukuk ini tidak dilakukan
         pemeringkatan.

         Penerimaan bersih dari penerbitan Sukuk                        The net proceeds from the issuance of the
         tersebut   digunakan     untuk penyaluran                      bonds were used to Sharia finance Tabungan
         pembiayaan Syariah Tabungan Perumahan                          Perumahan Rakyat (Sharia Tapera) loans.
         Rakyat (Syariah Tapera).




                                                          162
Page 559
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


23. SURAT-SURAT         BERHARGA                 YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   xi.   Sukuk Mudharabah Bank Tabungan Negara                     xi.   Sukuk Mudharabah Bank Tabungan Negara
         Tahun 2023 Tahap II                                             2023 Phase II

         Bank menerbitkan Sukuk Mudharabah Jangka                        The Bank issued Long Term Sukuk
         Panjang Yang Dilakukan Tanpa Melalui                            Mudharabah Bank Tabungan Negara Through
         Penawaran Umum Bank Tabungan Negara                             Private Placement Year 2023 Phase II with a
         Tahun 2023 tahap II dengan jumlah nilai                         total nominal value of Rp175,039. Such Sukuk
         nominal sebesar Rp175.039. Sukuk tersebut                       were issued at 100% of their nominal value with
         diterbitkan senilai 100% dari nilai nominalnya                  a profit-sharing ratio of 27.40% which is
         dengan dengan nisbah bagi hasil sebesar                         calculated from profit sharing income with
         27,40% yang dihitung dari pendapatan bagi                       indication of an equivalent of 1.37%, payable
         hasil dengan indikasi bagi hasil sebesar                        every year with amortized sukuk and will mature
         ekuivalen sebesar 1,37% yang dibayarkan tiap                    on December 27, 2036. The payment agent for
         tahun berikut amortisasi dana sukuk dan akan                    Sukuk is PT. Kustodian Sentral Efek Indonesia
         jatuh tempo pada tanggal 27 Desember 2036.                      (KSEI). Sukuk were not rated.
         PT. Kustodian Sentral Efek Indonesia (KSEI)
         bertindak sebagai agen pembayaran. Sukuk ini
         tidak dilakukan pemeringkatan.

         Penerimaan bersih dari penerbitan Sukuk                         The net proceeds from the issuance of the
         tersebut   digunakan     untuk penyaluran                       bonds were used to Sharia finance Tabungan
         pembiayaan Syariah Tabungan Perumahan                           Perumahan Rakyat (Sharia Tapera) loans.
         Rakyat (Syariah Tapera).

    xii. Obligasi Berkelanjutan IV Tahap II                         xii. Continuing Bonds IV Phase II

         Bank menerbitkan Obligasi Berkelanjutan IV                      The Bank issued Continuing Bonds IV Phase II
         BTN Tahap II Tahun 2022 dengan jumlah nilai                     of 2022 with a total nominal value of
         nominal sebesar Rp1.000.000 yang terdaftar di                   Rp1,000,000, which are registered in the
         Bursa Efek Indonesia (BEI). Obligasi tersebut                   Indonesia Stock Exchange (IDX). Such bonds
         diterbitkan senilai 100% dari nilai nominalnya                  were issued at 100% of their nominal value with
         dengan tingkat bunga tetap tahunan sebesar                      an annual fixed interest rates of 5.50% and
         5,50% dan 6,00% yang dibayarkan tiap tiga                       6.00%, payable every three months for
         bulanan masing-masing untuk Obligasi                            Continuing Bonds IV Phase II Series A dan
         Berkelanjutan IV Tahap II Seri A dan Seri B dan                 Series B, respectively, and will mature on May
         akan jatuh tempo masing-masing pada tanggal                     24, 2025 and May 24, 2027, respectively. The
         24 Mei 2025 dan 24 Mei 2027. Penerbitan                         issuance of Continuing Bonds IV Phase II of
         Obligasi Berkelanjutan IV Tahap II tahun 2022                   2022 became effective based on Letter No. S-
         tersebut telah dinyatakan efektif berdasarkan                   211/D.04/2020 dated August 11, 2020 of the
         surat Dewan Komisioner Otoritas Jasa                            Board of Commisioners of the Financial
         Keuangan No.S-211/D.04/2020 tanggal 11                          Services Authority.
         Agustus 2020.

         Penerimaan bersih dari penerbitan obligasi                      The net proceeds from the issuance of the
         tersebut    digunakan     sebagai    sumber                     bonds were used to finance loans. The rights of
         pembiayaan kredit. Hak pemegang obligasi                        the bondholders rank paripassu, without
         adalah paripassu tanpa hak preferen dengan                      preferential rights, with those of the Bank’s other
         hak-hak kreditur Bank lainnya baik yang ada                     creditors for existing or future creditor rights,
         sekarang maupun dikemudian hari, kecuali                        except for the Bank’s creditors’ rights which are
         hak-hak kreditur Bank yang dijamin secara                       guaranteed specifically by the Bank’s existing or
         khusus dengan kekayaan Bank baik yang telah                     future assets. The bonds are not included in the
         ada maupun yang akan ada dikemudian hari.                       Government’s guarantee program on the
         Obligasi ini tidak termasuk dalam program                       obligations of commercial banks.
         jaminan Pemerintah terhadap kewajiban
         pembayaran bank umum.



                                                           163
Page 560
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


23. SURAT-SURAT         BERHARGA                 YANG           23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)
    xii. Obligasi Berkelanjutan IV Tahap II (lanjutan)             xii. Continuing Bonds IV Phase II (continued)

       Pada tanggal 31 Desember 2023 dan 2022,                          As of December 31, 2023 and 2022, Continuing
       Obligasi Berkelanjutan IV BTN Tahap II                           Bonds IV Phase II were rated idAA+ and idAA
       masing-masing mendapat penilaian peringkat                       by PT Fitch Ratings Indonesia.
       idAA+ dan idAA dari PT Fitch Ratings
       Indonesia.

       Bertindak sebagai wali amanat Obligasi                           The trustee for Continuing Bonds IV Phase II is
       Berkelanjutan IV Tahap II adalah PT Bank                         PT Bank Pembangunan Daerah Jawa Barat
       Pembangunan Daerah Jawa Barat dan Banten                         dan Banten Tbk.
       Tbk.
    xiii. Obligasi Berkelanjutan IV Tahap I                        xiii. Continuing Bonds IV Phase I
       Bank menerbitkan Obligasi Berkelanjutan IV                       The Bank issued Continuing Bonds IV Phase I
       BTN Tahap I Tahun 2020 dengan jumlah nilai                       of 2020 with a total nominal value of
       nominal sebesar Rp1.500.000 yang terdaftar di                    Rp1,500,000, which are registered in the
       Bursa Efek Indonesia (BEI). Obligasi tersebut                    Indonesia Stock Exchange (IDX). Such bonds
       diterbitkan senilai 100% dari nilai nominalnya                   were issued at 100% of their nominal value with
       dengan tingkat bunga tetap tahunan sebesar                       an annual fixed interest rates of 6.75%, 7.80%
       6,75%, 7,80% dan 8,40% yang dibayarkan tiap                      and 8.40%, payable every three months for
       tiga bulanan masing-masing untuk Obligasi                        Continuing Bonds IV Phase I Series A, Series B
       Berkelanjutan IV Tahap I Seri A, Seri B dan Seri                 and Series C, respectively, and will mature on
       C dan akan jatuh tempo masing-masing pada                        August 29, 2021, August 19, 2023, and August
       tanggal 29 Agustus 2021, 19 Agustus 2023,                        19, 2025, respectively. The issuance of
       dan 19 Agustus 2025. Penerbitan Obligasi                         Continuing Bonds IV Phase I of 2020 became
       Berkelanjutan IV Tahap I tahun 2020 tersebut                     effective based on Letter No. S-211/D.04/2020
       telah dinyatakan efektif berdasarkan surat                       dated August 11, 2020 of the Board of
       Dewan Komisioner Otoritas Jasa Keuangan                          Commisioners of the Financial Services
       No.S-211/D.04/2020 tanggal 11 Agustus 2020.                      Authority.
       Penerimaan bersih dari penerbitan obligasi                       The net proceeds from the issuance of the
       tersebut    digunakan     sebagai    sumber                      bonds were used to finance loans. The rights of
       pembiayaan kredit. Hak pemegang obligasi                         the bondholders rank paripassu, without
       adalah paripassu tanpa hak preferen dengan                       preferential rights, with those of the Bank’s other
       hak-hak kreditur Bank lainnya baik yang ada                      creditors for existing or future creditor rights,
       sekarang maupun dikemudian hari, kecuali                         except for the Bank’s creditors’ rights which are
       hak-hak kreditur Bank yang dijamin secara                        guaranteed specifically by the Bank’s existing or
       khusus dengan kekayaan Bank baik yang telah                      future assets. The bonds are not included in the
       ada maupun yang akan ada dikemudian hari.                        Government’s guarantee program on the
       Obligasi ini tidak termasuk dalam program                        obligations of commercial banks.
       jaminan Pemerintah terhadap kewajiban
       pembayaran bank umum.
       Pada tanggal 31 Desember 2023 dan 2022,                          As of December 31, 2023 and 2022, Continuing
       Obligasi Berkelanjutan IV BTN Tahap I masing-                    Bonds IV Phase I were rated idAA+ and idAA by
       masing mendapat penilaian peringkat idAA+                        PT Fitch Ratings Indonesia, respectively.
       dan idAA dari PT Fitch Ratings Indonesia.
       Bertindak sebagai wali amanat Obligasi                           The trustee for Continuing Bonds IV Phase I is
       Berkelanjutan IV Tahap I adalah PT Bank                          PT Bank Pembangunan Daerah Jawa Barat
       Pembangunan Daerah Jawa Barat dan Banten                         dan Banten Tbk.
       Tbk.
       Sampai tanggal 31 Desember 2023, Obligasi                        Until December 31, 2023, Continuing Bonds IV
       Berkelanjutan IV Tahap I Seri A dan B telah                      Phase I Series A and B has been fully paid by
       dilunasi oleh Bank pada tanggal jatuh tempo.                     the Bank on the maturity date.



                                                          164
Page 561
                                                                 The original financial statements included herein are in the
                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


23. SURAT-SURAT         BERHARGA               YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

    xiv.Obligasi Berkelanjutan III Tahap II                       xiv. Continuing Bonds III Phase II

       Bank menerbitkan Obligasi Berkelanjutan III                     The Bank issued Continuing Bonds III Phase II
       BTN Tahap II Tahun 2019 dengan jumlah nilai                     of 2019 with a total nominal value of
       nominal sebesar Rp4.144.000 yang terdaftar di                   Rp4,144,000, which are registered in the
       Bursa Efek Indonesia (BEI). Obligasi tersebut                   Indonesia Stock Exchange (IDX). Such bonds
       diterbitkan senilai 100% dari nilai nominalnya                  were issued at 100% of their nominal value with
       dengan tingkat bunga tetap tahunan sebesar                      an annual fixed interest rates of 7.75%, 8.75%
       7,75%, 8,75% dan 9,00% yang dibayarkan tiap                     and 9.00%, payable every three months for
       tiga bulanan masing-masing untuk Obligasi                       Continuing Bonds III Phase II Series A, Series
       Berkelanjutan III Tahap II Seri A, Seri B dan                   B and Series C, respectively, and will mature on
       Seri C dan akan jatuh tempo masing-masing                       July 8, 2020, June 28, 2022, and June 28,
       pada tanggal 8 Juli 2020, 28 Juni 2022, 28 Juni                 2024, respectively. The issuance of Continuing
       2024. Penerbitan Obligasi Berkelanjutan III                     Bonds III Phase II of 2019 became effective
       Tahap II tahun 2019 tersebut telah dinyatakan                   based on Letter No. S-352/D.04/2017 dated
       efektif berdasarkan surat Dewan Komisioner                      June 22, 2017 of the Board of Commisioners of
       Otoritas Jasa Keuangan No. S-352/D.04/ 2017                     the Financial Services Authority.
       tanggal 22 Juni 2017.

       Penerimaan bersih dari penerbitan obligasi                      The net proceeds from the issuance of the
       tersebut    digunakan     sebagai    sumber                     bonds were used to finance loans. The rights of
       pembiayaan kredit. Hak pemegang obligasi                        the bondholders rank paripassu, without
       adalah paripassu tanpa hak preferen dengan                      preferential rights, with those of the Bank’s other
       hak-hak kreditur Bank lainnya baik yang ada                     creditors for existing or future creditor rights,
       sekarang maupun dikemudian hari, kecuali                        except for the Bank’s creditors’ rights which are
       hak-hak kreditur Bank yang dijamin secara                       guaranteed specifically by the Bank’s existing or
       khusus dengan kekayaan Bank baik yang telah                     future assets. The bonds are not included in the
       ada maupun yang akan ada dikemudian hari.                       Government’s guarantee program on the
       Obligasi ini tidak termasuk dalam program                       obligations of commercial banks.
       jaminan Pemerintah terhadap kewajiban
       pembayaran bank umum.

       Pada tanggal 31 Desember 2023 dan 2022,                         As of December 31, 2023 and 2022, Continuing
       Obligasi Berkelanjutan III BTN Tahap II masing-                 Bonds III Phase II were rated idAA+ and idAA
       masing mendapat penilaian peringkat idAA+                       by PT Fitch Ratings Indonesia, respectively.
       dan idAA dari PT Fitch Ratings Indonesia.

       Bertindak sebagai wali amanat Obligasi                          The trustee for Continuing Bonds III Phase II is
       Berkelanjutan III Tahap II adalah PT Bank                       PT Bank Mega Tbk.
       Mega Tbk.

       Sampai tanggal 31 Desember 2023, Obligasi                       Until December 31, 2023, Continuing Bonds III
       Berkelanjutan III Tahap II Seri A dan Seri B                    Phase II Series A and Series B has been fully
       telah dilunasi oleh Bank pada tanggal jatuh                     paid by the Bank on the maturity date.
       tempo.




                                                         165
Page 562
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


23. SURAT-SURAT         BERHARGA                 YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

    xv. Obligasi Berkelanjutan III Tahap I                          xv. Continuing Bonds III Phase I

       Bank menerbitkan Obligasi Berkelanjutan III                       The Bank issued Continuing Bonds III Phase I
       BTN Tahap I Tahun 2017 dengan jumlah nilai                        of 2017 with a total nominal value of
       nominal sebesar Rp5.000.000 yang terdaftar di                     Rp5,000,000, which are registered in the
       Bursa Efek Indonesia (BEI). Obligasi tersebut                     Indonesia Stock Exchange (IDX). Such bonds
       diterbitkan senilai 100% dari nilai nominalnya                    were issued at 100% of their nominal value with
       dengan tingkat bunga tetap tahunan sebesar                        an annual fixed interest rates of 8.30%, 8.50%,
       8,30%, 8,50%, 8,70% dan 8,90% yang                                8.70% and 8.90%, payable every three months
       dibayarkan tiap tiga bulanan masing-masing                        for Continuing Bonds III Phase I Series A,
       untuk Obligasi Berkelanjutan III Tahap I Seri A,                  Series B, Series C and Series D, respectively,
       Seri B, Seri C dan Seri D dan akan jatuh tempo                    and will mature on July 13, 2020, July 13, 2022,
       masing-masing pada tanggal 13 Juli 2020, 13                       July 13, 2024 and July 13, 2027, respectively.
       Juli 2022, 13 Juli 2024 dan 13 Juli 2027.                         The issuance of Continuing Bonds III Phase I of
       Penerbitan Obligasi Berkelanjutan III Tahap I                     2017 became effective based on Letter No. S-
       tahun 2017 tersebut telah dinyatakan efektif                      352/D.04/2017 dated June 22, 2017 of the
       berdasarkan surat Dewan Komisioner Otoritas                       Board of Commisioners the Financial Services
       Jasa Keuangan No. S-352/D.04/2017 tanggal                         Authority.
       22 Juni 2017.

       Penerimaan bersih dari penerbitan obligasi                        The net proceeds from the issuance of the
       tersebut     digunakan     sebagai    sumber                      bonds were used to finance loans. The rights of
       pembiayaan kredit. Hak pemegang obligasi                          the bondholders rank paripassu, without
       adalah paripassu tanpa hak preferen dengan                        preferential rights, with those of the Bank’s other
       hak-hak kreditur Bank lainnya baik yang ada                       creditors for existing or future creditor rights,
       sekarang maupun dikemudian hari, kecuali hak-                     except for the Bank’s creditors’ rights which are
       hak kreditur Bank yang dijamin secara khusus                      guaranteed specifically by the Bank’s existing or
       dengan kekayaan Bank baik yang telah ada                          future assets. The bonds are not included in the
       maupun yang akan ada dikemudian hari.                             Government’s guarantee program on the
       Obligasi ini tidak termasuk dalam program                         obligations of commercial banks.
       jaminan Pemerintah terhadap kewajiban
       pembayaran bank umum.
       Pada tanggal 31 Desember 2023 dan 2022,                           As of December 31, 2023 and 2022, Continuing
       Obligasi Berkelanjutan III BTN Tahap I masing-                    Bonds III Phase I were rated idAA+ and idAA by
       masing mendapat penilaian peringkat idAA+                         PT Fitch Ratings Indonesia, respectively.
       dan idAA dari PT Fitch Ratings Indonesia.

       Bertindak sebagai wali amanat Obligasi                            The trustee for Continuing Bonds III Phase I is
       Berkelanjutan III Tahap I adalah PT Bank                          PT Bank Mandiri (Persero) Tbk.
       Mandiri (Persero) Tbk.

       Sampai tanggal 31 Desember 2023, Obligasi                         Until December 31, 2023, Continuing Bonds III
       Berkelanjutan III Tahap I Seri A dan Seri B telah                 Phase I Series A and Series B has been fully
       dilunasi oleh Bank pada tanggal jatuh tempo.                      paid by the Bank on the maturity date.




                                                           166
Page 563
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


23. SURAT-SURAT         BERHARGA                YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   xvi. Obligasi Berkelanjutan II Tahap I                             xvi. Continuing Bonds II Phase I

       Bank menerbitkan Obligasi Berkelanjutan II                           The Bank issued Continuing Bonds II Phase
       Tahap I Tahun 2015 dengan jumlah nilai                               I of 2015 with a total nominal value of
       nominal sebesar Rp3.000.000 yang terdaftar di                        Rp3,000,000, which are registered in the
       Bursa Efek Indonesia (BEI). Obligasi tersebut                        Indonesia Stock Exchange (IDX). Such
       diterbitkan senilai 100% dari nilai nominalnya                       bonds were issued at 100% of their nominal
       dengan tingkat bunga tetap tahunan sebesar                           value with an annual fixed interest rates of
       9,63%, 9,88%, 10,00% dan 10,50% yang                                 9.63%, 9.88%, 10.00% and 10.50%,
       dibayarkan tiap tiga bulanan masing-masing                           payable every three months for Continuing
       untuk Obligasi Berkelanjutan II Tahap I Seri A,                      Bonds II Phase I Series A, Series B, Series
       Seri B, Seri C dan Seri D dan akan jatuh tempo                       C and Series D, respectively, and will
       masing-masing pada tanggal 8 Juli 2018, 8 Juli                       mature on July 8, 2018, July 8, 2020, July 8,
       2020, 8 Juli 2022 dan 8 Juli 2025. Penerbitan                        2022 and July 8, 2025, respectively. The
       Obligasi Berkelanjutan II Tahap I tahun 2015                         issuance of Continuing Bonds II Phase I of
       tersebut telah dinyatakan efektif berdasarkan                        2015 became effective based on Letter
       surat Dewan Komisioner Otoritas Jasa                                 No. S-207/D.04/2015 dated June 30, 2015
       Keuangan No. S-207/D.04/2015 tanggal 30                              of the Board of Commisioners of the
       Juni 2015.                                                           Financial Services Authority.
       Penerimaan bersih dari penerbitan obligasi                          The net proceeds from the issuance of the
       tersebut     digunakan     sebagai    sumber                        bonds were used to finance loans. The rights
       pembiayaan kredit. Hak pemegang obligasi                            of the bondholders rank paripassu, without
       adalah paripassu tanpa hak preferen dengan                          preferential rights, with those of the Bank’s
       hak-hak kreditur Bank lainnya baik yang ada                         other creditors for existing or future creditor
       sekarang maupun dikemudian hari, kecuali hak-                       rights, except for the Bank’s creditors’ rights
       hak kreditur Bank yang dijamin secara khusus                        which are guaranteed specifically by the
       dengan kekayaan Bank baik yang telah ada                            Bank’s existing or future assets. The bonds
       maupun yang akan ada dikemudian hari.                               are not included in the Government’s
       Obligasi ini tidak termasuk dalam program                           guarantee program on the obligations of
       jaminan Pemerintah terhadap kewajiban                               commercial banks.
       pembayaran bank umum.
       Pada tanggal 31 Desember 2023 dan 2022,                              As of December 31, 2023 and 2022,
       Obligasi Berkelanjutan II Tahap I masing-                            Continuing Bonds II Phase I were rated
       masing mendapat penilaian peringkat idAA+                            idAA+ and idAA by PT Fitch Ratings
       dan idAA dari PT Fitch Ratings Indonesia.                            Indonesia, respectively.

       Bertindak sebagai      wali amanat     Obligasi                      The trustee for Continuing Bonds II Phase I
       Berkelanjutan  II       Tahap   I       adalah                       is PT Bank Mega Tbk.
       PT Bank Mega Tbk.

       Sampai tanggal 31 Desember 2023, Obligasi                           Until December 31, 2023, Continuing Bonds
       Berkelanjutan II Tahap I Seri A, Seri B dan Seri                    II Phase I Series A, Series B and Series C
       C telah dilunasi oleh Bank pada tanggal jatuh                       has been fully paid by the Bank on the
       tempo.                                                              maturity date




                                                          167
Page 564
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


23. SURAT-SURAT         BERHARGA              YANG            23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   xvii. Obligasi Berkelanjutan I Tahap II                       xvii. Continuing Bonds I Phase II

       Bank menerbitkan Obligasi Berkelanjutan I                      The Bank issued Continuing Bonds I Phase II
       Tahap II Tahun 2013 dengan jumlah nilai                        2013 with a total nominal value of Rp2,000,000,
       nominal sebesar Rp2.000.000 yang terdaftar di                  which are registered in the Indonesia Stock
       Bursa Efek Indonesia (BEI). Obligasi tersebut                  Exchange (IDX). Such bonds were issued at
       diterbitkan senilai 100% dari nilai nominalnya                 100% of their nominal value with an annual fixed
       dengan tingkat bunga tetap tahunan sebesar                     interest rate of 7.90%, payable every three
       7,90% yang dibayarkan tiap tiga bulanan dan                    months and are due on March 27, 2023. The
       akan jatuh tempo pada tanggal 27 Maret 2023.                   issuance of Continuing Bonds I Phase II of 2013
       Penerbitan Obligasi Berkelanjutan I Tahap II                   became       effective   based      on    Letter
       tahun 2013 tersebut telah dinyatakan efektif                   No. S-6349/BL/2012 dated May 28, 2012 of the
       berdasarkan surat Ketua BAPEPAM-LK No. S-                      Chairman of BAPEPAM-LK.
       6349/BL/2012 tanggal 28 Mei 2012.

       Penerimaan bersih dari penerbitan obligasi                     The net proceeds from the issuance of the
       tersebut    digunakan     sebagai    sumber                    bonds were used to finance loans. The rights of
       pembiayaan kredit. Hak pemegang obligasi                       the bondholders rank paripassu, without
       adalah paripassu tanpa hak preferen dengan                     preferential rights, with those of the Bank’s other
       hak-hak kreditur Bank lainnya baik yang ada                    creditors for existing or future creditor rights,
       sekarang maupun di kemudian hari, kecuali                      except for the Bank’s creditors’ rights which are
       hak-hak kreditur Bank yang dijamin secara                      guaranteed specifically by the Bank’s existing or
       khusus dengan kekayaan Bank baik yang telah                    future assets. The bonds are not secured by
       ada maupun yang akan ada di kemudian hari.                     specific collateral, but are secured by all assets
       Obligasi ini tidak dijamin dengan jaminan                      of the Bank, both movable and immovable, and
       khusus, tetapi dijamin dengan seluruh harta                    those that are existing and will exist in the future,
       kekayaan Bank, baik barang bergerak maupun                     which are attributable to the Bank’s
       barang tidak bergerak, baik yang telah ada                     bondholders.
       maupun yang akan ada di kemudian hari
       menjadi jaminan bagi pemegang obligasi.

       Pada tanggal 31 Desember 2022, Obligasi                        As of December 31, 2022, Continuing Bonds I
       Berkelanjutan I BTN Tahap II mendapat                          Phase II were rated idAA by PT Fitch Ratings
       penilaian peringkat idAA dari PT Fitch Ratings                 Indonesia.
       Indonesia.


       Pada tanggal 12 Oktober 2020, Bank                             As of October 12, 2020, the Bank bought back
       melakukan pembelian kembali Obligasi I Tahap                   BTN Continuing Bonds I Phase II Bonds for
       II dengan nilai nominal sebesar Rp75.000                       nominal value of Rp75,000 with repurchased
       dengan harga beli Rp76.620. Pada tanggal 27                    price of Rp76,620. As of May 27, 2022, the Bank
       Mei 2022, Bank melakukan penjualan kembali                     resell BTN Continuing Bonds I Phase II Bonds
       Obligasi I Tahap II dengan nilai nominal                       for nominal value of Rp75,000 with reselling
       sebesar Rp75.000 dengan harga jual                             price of Rp77,250.
       Rp77.250.

       Bertindak sebagai wali amanat Obligasi                         The trustee for Continuing Bonds I Phase II is
       Berkelanjutan I BTN Tahap II adalah                            PT Bank Mega Tbk.
       PT Bank Mega Tbk.

       Sampai tanggal 31 Desember 2023, Obligasi                      Until December 31, 2023, Continuing Bonds I
       Berkelanjutan I Tahap II Tahun 2023 telah                      Phase II 2023 has been fully paid by the Bank
       dilunasi oleh Bank pada tanggal jatuh tempo.                   on the maturity date.




                                                        168
Page 565
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


23. SURAT-SURAT         BERHARGA                  YANG             23. SECURITIES ISSUED (continued)
    DITERBITKAN (lanjutan)

   xviii. Negotiable Certificate of Deposits                           xviii. Negotiable Certificate of Deposits
       Pada tanggal 20 Oktober 2023, Bank                                   On October 20, 2023, Bank issued Negotiable
       menerbitkan Negotiable Certificate of Deposits                       Certificate of Deposits (NCD) Phase I with
       (NCD) Tahap I dengan nilai pokok sebesar                             principal value amounted to Rp1,500,000 within
       Rp1.500.000 dalam 3 (tiga) seri sebagai                              3 (three) series as follows:
       berikut:
           Seri A: Nilai pokok NCD sebesar                                     A Series: NCD principal value amounted to
            Rp500.000 dengan tingkat bunga tetap                                 Rp500,000 with a fixed interest rate of
            sebesar 6,40% per tahun, untuk jangka                                6.40% per annum, for 181 (one hundred
            waktu 181 (seratus delapan puluh satu)                               and eighty one) days period and will mature
            hari dan akan jatuh tempo pada tanggal                               on April 17, 2024. The NCD were issued at
            17 April 2024. NCD tersebut diterbitkan                              96.90%.
            sebesar 96,90%.
           Seri B: Nilai pokok NCD sebesar Rp70.000                            B Series: NCD principal value amounted to
            dengan tingkat bunga tetap sebesar 6,45%                             Rp70,000 with a fixed interest rate of
            per tahun, untuk jangka waktu 270 (dua                               6.45% per annum, for 270 (two hundred
            ratus tujuh puluh) hari dan akan jatuh                               seventy) days period and will mature on
            tempo              pada           tanggal                            July 16, 2024. The NCD were issued at
            16 Juli 2024. NCD tersebut diterbitkan                               95.39%.
            sebesar 95,39%.
           Seri C: Nilai pokok NCD sebesar                                     C Series: NCD principal value amounted to
            Rp930.000 dengan tingkat bunga tetap                                 Rp930,000 with a fixed interest rate of
            sebesar 6,53% per tahun, untuk jangka                                6.53% per annum, for 365 (three hundred
            waktu 365 (tiga ratus enam puluh lima) hari                          sixty five) days period and will mature on
            dan akan jatuh tempo pada tanggal 21                                 October 21, 2024. The NCD were issued at
            Oktober 2024. NCD tersebut diterbitkan                               93.76%.
            sebesar 93,76%.

24. PINJAMAN YANG DITERIMA                                         24. FUND BORROWINGS
                                            31 Desember/          31 Desember/
                                           December 31, 2023    December 31, 2022

    Pihak Ketiga                                                                                                 Third Parties
      Rupiah                                                                                                         Rupiah
      PT Bank Central Asia Tbk                    8.418.879            4.418.075                  PT Bank Central Asia Tbk
      PT Bank Danamon Indonesia Tbk               2.000.000            2.000.000            PT Bank Danamon Indonesia Tbk
      Citibank N.A., Jakarta                        139.861              139.483                      Citibank N.A., Jakarta

                                                 10.558.740            6.557.558


      Mata Uang Asing                                                                                       Foreign Currency
      Japan International                                                                                 Japan International
        Cooperation Agency                          750.059              807.762                        Cooperation Agency

                                                 11.308.799            7.365.320


    Pihak Berelasi (Catatan 43)                                                                      Related Parties (Note 43)
      Rupiah                                                                                                          Rupiah
      PT Sarana Multigriya Finansial                                                           PT Sarana Multigriya Finansial
         (Persero)                               22.453.290           17.455.685                                 (Persero)

                                                 22.453.290           17.455.685

    Total                                        33.762.089           24.821.005                                           Total




                                                          169
Page 566
                                                                 The original financial statements included herein are in the
                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                          24. FUND BORROWINGS (continued)

   a.   Pinjaman dari PT Bank Central Asia Tbk                    a.   Loan from PT Bank Central Asia Tbk (continued)
        (lanjutan)
        Akun ini merupakan fasilitas pinjaman yang                     This account represents loan facility obtained
        diperoleh dari PT Bank Central Asia Tbk                        from PT Bank Central Asia Tbk which is
        ditujukan untuk pembiayaan Kredit Pemilikan                    intended to Finance Housing Loans (KPR) of the
        Rumah (KPR) kepada debitur Bank.                               Bank’s debtors.
        Perjanjian pinjaman dengan PT Bank Central                     The loan agreement with PT Bank Central Asia
        Asia Tbk telah mengalami beberapa kali                         Tbk has been amended several times. The last
        perubahan.         Perubahan        terakhir                   amendment was documented under the loan
        didokumentasikan       dalam      Perjanjian                   agreement No. 11 dated December 6, 2023
        Kredit No. 11 tanggal 6 Desember 2023 yang                     consist of:
        terdiri dari:
           Term Loan II dan III yang dilakukan                               The Term Loan II, and III the loan were
            perpanjangan selama 36 bulan atas                                  extended for 36 months, for each Rp1 trillion
            pinjaman tersebut sebesar masing-masing                            (full amount) with fixed interest rate are
            Rp1 triliun (angka penuh) yang memiliki                            5.50% per annum and will mature on June
            bunga tetap sebesar masing-masing 5,50%                            21, 2024 and June 14, 2024, respectively.
            dan akan jatuh tempo masing-masing pada
            tanggal 21 Juni 2024 dan 14 Juni 2024.
           Term Loan IV sebesar Rp2 triliun (angka                           The Term Loan IV amounting Rp2 trillion
            penuh) yang memiliki bunga tetap sebesar                           (full amount) with fixed interest rate 5.50%
            5,50% dengan jangka waktu selama                                   with 36 months period which will mature
            36 bulan yang akan jatuh tempo masing-                             amounting Rp1 trillion (full amount) on April
            masing sebesar Rp1 triliun (angka penuh)                           25, 2024 and amounting Rp1 trillion (full
            pada 25 April 2024 dan sebesar Rp1 triliun                         amount) on May 8, 2024, respectively.
            (angka penuh) pada 8 Mei 2024.
           Term Loan V sebesar Rp4 triliun (angka                            The Term Loan V amounting Rp4 trillion (full
            penuh) yang memiliki bunga tetap sebesar                           amount) with fixed interest rate 6.75% with
            6,75% dengan jangka waktu selama                                   12 months period which will mature on
            12 bulan yang akan jatuh tempo pada 6                              December 6, 2024.
            Desember 2024.

        Pada tanggal 18 Mei 2022, Bank                                 On May 18, 2022, the Bank received loan from
        mendapatkan pinjaman dari PT Bank Central                      PT Bank Central Asia Tbk with plafond
        Asia Tbk Jakarta sebesar Rp420 miliar                          amounting to Rp420 billion (full amount) with
        (angka penuh) yang memiliki bunga tetap                        fixed interest rate of 5.23% and will mature on
        sebesar 5,23% dan jatuh tempo pada 18 Mei                      May 18, 2025.
        2025.
        Persyaratan-persyaratan     penting   dalam                    The significant requirements in the Bank’s loan
        perjanjian pinjaman Bank antara lain:                          agreement include the following:
          Rasio Non Performing Loan (NPL) Bruto                           Gross Non Performing Loan (NPL) ratio
           tidak melebihi 6%                                                shall not exceed 6%
          Menjaga Rasio Non Performing Loan                               Maintain Net Non Performing Loan (NPL)
           (NPL) Neto sesuai dengan ketentuan yang                          ratio to comply in accordance with
           berlaku                                                          regulations
          Capital Adequacy Ratio (CAR) minimal                            Capital Adequacy Ratio (CAR) is
           12%                                                              minimum at least 12%
          Laba bersih tahun berjalan dengan angka                         Net income for the current year with
           positif                                                          positive numbers
          Nilai Liquidity Coverage Ratio minimal                          Liquidity Coverage Ratio minimum 100%
           sebesar 100%
          Rasio cakupan Non Performing Loan                                    Non Performing Loan (NPL) coverage
           (NPL) tidak kurang dari 100%                                          minimum 100%
          Rasio eksposur kredit tidak melebihi 40%                             Open credit exposure ratio shall not
                                                                                 exceed than 40%

                                                         170
Page 567
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                           24. FUND BORROWINGS (continued)

   b.   Pinjaman dari Citibank N.A., Jakarta                       b.   Loan from Citibank N.A., Jakarta
        Akun ini merupakan fasilitas pinjaman yang                      This account represents loan facility obtained
        diperoleh dari Citibank N.A., Jakarta ditujukan                 from Citibank N.A., Jakarta which is intended to
        untuk mendukung Bank dalam menyalurkan                          support Banks in the context of selling housing
        kredit pemilikan rumah di Indonesia.                            loans in Indonesia.
        Pada tanggal 18 Mei 2022, Bank mendapatkan                      On      May 18, 2022, the Bank received
        pinjaman sindikasi sebesar Rp140 miliar (angka                  syndicated loan with plafond amounting to
        penuh) yang memiliki bunga tetap sebesar                        Rp140 billion (full amount) with fixed interest
        4,70%      dan       jatuh   tempo        pada                  rate of 4.70% and will mature on May 18, 2024,
        18 Mei 2024.                                                    respectively.
        Persyaratan-persyaratan     penting   dalam                     The significant requirements in the Bank’s loan
        perjanjian pinjaman Bank antara lain:                           agreement include the following:
          Rasio Non Performing Loan (NPL) Bruto                            Gross Non Performing Loan (NPL) ratio
           tidak melebihi 6%                                                 shall not exceed 6%
          Menjaga Rasio Non Performing Loan (NPL)                          Maintain Net Non Performing Loan (NPL)
           Neto sesuai dengan ketentuan yang berlaku                         ratio to comply in accordance with
                                                                             regulations
          Capital Adequacy Ratio (CAR) minimal 12%                         Capital Adequacy Ratio (CAR) is
                                                                             minimum at least 12%
          Laba bersih tahun berjalan dengan angka                          Net income for the current year with
           positif                                                           positive numbers
          Nilai Liquidity Coverage Ratio minimal                           Liquidity Coverage Ratio minimum 100%
           sebesar 100%
          Rasio cakupan Non Performing Loan (NPL)                            Non Performing Loan (NPL) coverage
           tidak kurang dari 100%                                              minimum 100%
          Rasio eksposur kredit tidak melebihi 40%                           Open credit exposure ratio shall not
                                                                               exceed than 40%
   c.   Pinjaman dari Japan International Cooperation              c.   Loan from Japan International Cooperation
        Agency                                                          Agency
        Akun ini merupakan fasilitas pinjaman yang                      This account represents loan facility obtained
        diperoleh dari Japan International Cooperation                  from Japan International Cooperation Agency
        Agency ditujukan untuk mendukung penyaluran                     which is intended to support distributing
        kredit kepemilikan rumah untuk masyarakat                       housing loans for low and middle income
        berpenghasilan rendah dan menengah di                           communities in Indonesia.
        Indonesia.
        Pada tanggal 18 Mei 2022, Bank mendapatkan                      On May 18, 2022, the Bank received loan with
        pinjaman dengan plafon sebesar JPY 7 miliar                     plafond amounting to JPY 7 billion (full amount)
        (angka penuh) atau ekuivalen Rp765.590                          or the equivalent to Rp765,590 with fixed
        dengan bunga tetap sebesar 0,90% dan jatuh                      interest rate of 0.90% and will mature on May
        tempo pada tanggal 10 Mei 2027.                                 10, 2027, respectively.
        Persyaratan-persyaratan     penting   dalam                     The significant requirements in the Bank’s loan
        perjanjian pinjaman Bank antara lain:                           agreement include the following:
          Rasio Non Performing Loan (NPL) Bruto                            Gross Non Performing Loan (NPL) ratio
           tidak melebihi 6%                                                 shall not exceed 6%
          Capital Adequacy Ratio (CAR) minimal 12%                         Capital Adequacy Ratio (CAR) is
                                                                             minimum at least 12%
          Laba bersih tahun berjalan dengan angka                          Net income for the current year with
           positif                                                           positive numbers
          Nilai Liquidity Coverage Ratio minimal                           Liquidity Coverage Ratio minimum 100%
           sebesar 100%
          Rasio cakupan Non Performing Loan (NPL)                            Non Performing Loan (NPL) coverage
           tidak kurang dari 100%                                              minimum 100%
          Rasio eksposur kredit tidak melebihi 46%                           Open credit exposure ratio shall not
                                                                               exceed than 46%


                                                          171
Page 568
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                            24. FUND BORROWINGS (continued)

   d.   Pinjaman dari PT Bank Danamon Indonesia                    d.    Loan from PT Bank Danamon Indonesia Tbk
        Tbk
        Akun ini merupakan fasilitas pinjaman yang                      This account represents loan facility obtained
        diperoleh dari PT Bank Danamon Indonesia                        from PT Bank Danamon Indonesia Tbk which is
        Tbk      ditujukan   untuk       mendukung                      intended to support the business and
        pengembangan bisnis dan operasional Bank.                       operational development of the Bank.
        Berdasarkan          Perjanjian        Kredit                   The loan agreement with PT Bank Danamon
        No. 108/PP/EB/0121 tanggal 17 Februari 2021,                    Indonesia Tbk has been amended several
        Bank mendapatkan pinjaman bilateral dengan                      times. The last amendment was documented
        plafon sebesar masing-masing Rp500 miliar                       under          the       loan         agreement
        (angka penuh), Rp500 miliar (angka penuh)                       No. 108/PP/EB/0121 dated February 17, 2021,
        dan Rp1.000 miliar (angka penuh) dengan                         the Bank received a loan with plafond amounting
        bunga tetap sebesar masing-masing 5,75% dan                     for each Rp500 billion (full amount), Rp500
        jatuh tempo masing-masing pada tanggal 22                       billion (full amount) and Rp1,000 billion (full
        Agustus 2023, 25 September 2023 dan 24                          amount) with fixed interest rate for each 5.75%
        Desember 2023.                                                  and will mature on August 22, 2023, September
                                                                        25, 2023 and December 24, 2023, respectively.

        Persyaratan-persyaratan      penting     dalam                  The significant requirements in the Bank’s loan
        perjanjian pinjaman Bank antara lain:                           agreement include the following:
         Mempertahankan          minimum       Capital                   Capital Adequacy Ratio (CAR) minimum is
            Adequacy Ratio CAR sesuai           dengan                      in accordance with the provisions of the
            ketentuan regulator yang berlaku                                applicable regulator under
                                                                          Non-Performing Loan (NPL) ratio in
           Rasio Non-Performing Loan (NPL) sesuai                          accordance with the provisions of the
            dengan ketentuan regulator yang berlaku                         applicable regulator.
                                                                          Liquidity Coverage Ratio minimum is in
           Nilai Liquidity Coverage Ratio sesuai                           accordance with the provisions of the
            dengan ketentuan regulator yang berlaku                         applicable regulator

        Bank telah melakukan pelunasan atas pinjaman                    The Bank has fully repaid the loan at maturity
        tersebut saat jatuh tempo pada tanggal 22                       date on August 22, 2023 and September 25,
        Agustus 2023 dan 25 September 2023 masing-                      2023 with each amounting to Rp500 million (full
        masing sebesar Rp500 miliar (angka penuh).                      amount).

        Berdasarkan             Perjanjian       Kredit                 Based on loan agreement No. 331PP/EB/1023
        No. 331/PP/EB/1023 tanggal 6 Oktober 2023,                      dated October 6, 2023, the Bank get involve
        Bank mendapatkan perpanjangan jangka waktu                      extending the payment arrangements and get
        fasilitas kredit serta memberikan tambahan limit                an additional credit facility limit with plafond
        fasilitas pinjaman dengan plafond sebesar                       amounting for each Rp1 trillion with fixed interest
        masing-masing Rp1 triliun dengan bunga tetap                    rate of 6.85% and mature for each on October
        sebesar 6,85% dan jatuh tempo masing-masing                     27, 2024 and June 24, 2024.
        pada tanggal 27 Oktober 2024 dan 24 Juni
        2024.




                                                           172
Page 569
                                                               The original financial statements included herein are in the
                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                    unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                        24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial            e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF)                                              (Persero) (SMF)
        Bank memiliki beberapa perjanjian pinjaman                   The Bank has several loan agreements with
        dengan SMF sebagai berikut:                                  SMF as follow:
           Pinjaman SMF Tahap 1 Tahun 2019                              SMF Loan Phase 1 Year 2019
            Berdasarkan perjanjian No. 028/PP/SMF-                        Based           on      loan        agreement
            BTN/II/2019 tanggal 12 Februari 2019,                         No.       028/PP/SMF-BTN/II/2019         dated
            Bank mendapatkan pinjaman dengan                              February 12, 2019, the Bank received a
            plafond sebesar Rp1,8 triliun (angka                          loan with plafond amounting to Rp1.8
            penuh) dengan bunga tetap 9,20% dan                           trillion (full amount) with fixed interest rate
            akan jatuh tempo pada tanggal 12                              of 9.20% and will mature on February 12,
            Februari 2022.                                                2022.
            Bank telah melakukan pelunasan atas                            The Bank has fully repaid the loan at
            pinjaman tersebut saat jatuh tempo pada                        maturity date on February 12, 2022
            tanggal 12 Februari 2022 sebesar                               amounting to Rp1.8 trillion (full amount).
            Rp1,8 triliun (angka penuh).
           Pinjaman SMF Tahap 2 Tahun 2019                              SMF Loan Phase 2 Year 2019
            Berdasarkan perjanjian No. 055/PP/SMF-                         Based on loan agreement                 No.
            BTN/IV/2019 tanggal 11 April 2019, Bank                        055/PP/SMF-BTN/IV/2019 dated April 11,
            mendapatkan pinjaman dengan plafond                            2019, the Bank received a loan with
            sebesar Rp1,5 triliun (angka penuh) yang                       plafond amounting to Rp1.5 trilion (full
            terdiri atas sebesar Rp1 triliun (angka                        amount) with details of amounting to Rp1
            penuh) dan Rp500 miliar (angka penuh)                          trilion (full amount) and Rp500 billion (full
            dengan bunga tetap 8,60% yang akan                             amount) with interest rate of 8.60% and
            jatuh tempo masing-masing pada tanggal                         will mature on April 11, 2022 and May 2,
            11 April 2022 dan 2 Mei 2022.                                  2022.

            Bank telah melakukan pelunasan atas                            The Bank has fully repaid the loan at
            pinjaman tersebut saat jatuh tempo                             maturity date for each on April 11, 2022
            masing-masing pada tanggal 11 April                            and May 2, 2022 and amounting to Rp1
            2022 dan 2 Mei 2022 sebesar Rp1 triliun                        trilion (full amount) and Rp500 billion (full
            (angka penuh) dan Rp500 miliar (angka                          amount).
            penuh).

           Pinjaman SMF Tahap 3 Tahun 2019                              SMF Loan Phase 3 Year 2019

            Berdasarkan perjanjian No. 088/PP/SMF-                        Based     on    loan    agreement      No.
            BTN/V/2019 tanggal 29 Mei 2019, Bank                          088/PP/SMF-BTN/V/2019 dated May 29,
            mendapatkan pinjaman dengan plafond                           2019, the Bank received a loan with
            sebesar Rp1 triliun (angka penuh) dengan                      plafond amounting to Rp1 trillion (full
            bunga tetap 8,79% yang akan jatuh tempo                       amount) with fixed interest rate of 8.79%
            pada tanggal 31 Mei 2022.                                     and will mature on May 31, 2022.

            Bank telah melakukan pelunasan atas                            The Bank has fully repaid the loan at
            pinjaman tersebut saat jatuh tempo pada                        maturity date on May 31, 2022 amounting
            tanggal      31   Mei    2022   sebesar                        to Rp1 trillion (full amount).
            Rp1 triliun (angka penuh).




                                                       173
Page 570
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                         24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial             e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                    (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                    The Bank has several loan agreements with
        dengan SMF sebagai berikut: (lanjutan)                        SMF as follow: (continued)

           Pinjaman SMF Tahap 4 Tahun 2019                               SMF Loan Phase 4 Year 2019

            Berdasarkan perjanjian No. 092/PP/SMF-                         Based     on    loan     agreement     No.
            BTN/VII/2019 tanggal 9 Juli 2019, Bank                         092/PP/SMF-BTN/VII/2019 dated July 9,
            mendapatkan pinjaman dengan plafond                            2019, the Bank received a loan with
            sebesar Rp2.095 miliar (angka penuh)                           plafond amounting to Rp2,095 billion (full
            yang terdiri atas sebesar Rp640 miliar                         amount) with details of amounting to
            (angka penuh) dengan bunga tetap 8,87%                         Rp640 (full amount) billion with interest
            yang akan jatuh tempo pada tanggal 9 Juli                      rate of 8.87% and will mature on July 9,
            2022 dan sebesar Rp1.455 miliar (angka                         2022, and amounting to Rp1,455 billion
            penuh) dengan bunga tetap 9,09% yang                           (full amount) with interest rate of 9.09%
            akan jatuh tempo pada tanggal 9 Juli                           and will mature on July 9, 2024.
            2024.

            Bank telah melakukan pelunasan atas                             The Bank has fully paid the loan at
            pinjaman tersebut saat jatuh tempo pada                         maturity date on July 9, 2022 amounting to
            tanggal 9 Juli 2022 sebesar Rp640 miliar                        Rp640 billion (full amount).
            (angka penuh).
            Berdasarkan perjanjian No. 003/FLPP/                            Based on loan agreement No. 003/
            SMF/PP/SMF-BTN/I/2023      tanggal    6                         FLPP/SMF/PP/SMF-BTN/I/2023           dated
            Januari 2023, Bank mendapatkan                                  January 6, 2023, the Bank received a loan
            pinjaman dalam rangka penyaluran kredit                         which is intended for distributing housing
            pemilikan   rumah    sejahtera    untuk                         loans for low-income communities.
            masyarakat berpenghasilan rendah.

            Pencairan atas fasilitas ini dilakukan                          This disbursement of facility is carried out
            selama availability period sampai dengan                        during the availability period until
            tanggal 29 Desember 2023. Saldo pada                            December 29, 2023. The outstanding
            tanggal 31 Desember 2023 adalah                                 balance as of December 31, 2023 is
            sebesar Rp4.784.576 dengan suku bunga                           amounting to Rp4,784,576 with the lowest
            paling rendah sebesar 4,45% dengan                              interest rate of 4.45% for a maximum
            jangka waktu paling lama 20 (dua puluh)                         period of 20 (twenty) years. Loan
            tahun. Pengembalian dana pinjaman                               repayments (principal and interest
            (angsuran pokok dan bunga) kepada SMF                           installments) to SMF is no later than the
            dilaksanakan paling lambat tanggal 10                           10th of each month, if the due date of
            setiap bulannya, apabila tanggal jatuh                          principal and interest payments falls on a
            tempo pembayaran pokok dan bunga                                national holiday, the payment is made on
            jatuh pada hari libur nasional, maka                            the working day after the payment due
            pembayaran dilakukan pada hari kerja                            date.
            sesudah      tanggal      jatuh    tempo
            pembayaran.

           Pinjaman SMF FLPP 2023                                         SMF FLPP Year 2023

            Berdasarkan perjanjian No. 003/FLPP/                            Based on loan agreement No. 003/
            SMF/PP/SMF-BTN/I/2023      tanggal    6                         FLPP/SMF/PP/SMF-BTN/I/2023           dated
            Januari 2023, Bank mendapatkan                                  January 6, 2023, the Bank received a loan
            pinjaman dalam rangka penyaluran kredit                         which is intended for distributing housing
            pemilikan   rumah    sejahtera    untuk                         loans for low-income communities.
            masyarakat berpenghasilan rendah.




                                                        174
Page 571
                                                                 The original financial statements included herein are in the
                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                          24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial              e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                     (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                     The Bank has several loan agreements with
        dengan SMF sebagai berikut: (lanjutan)                         SMF as follow: (continued)

           Pinjaman SMF FLPP 2023 (lanjutan)                               SMF FLPP Year 2023 (continued)

            Pencairan atas fasilitas ini dilakukan                           This disbursement of facility is carried out
            selama availability period sampai dengan                         during the availability period until
            tanggal 29 Desember 2023. Saldo pada                             December 29, 2023. The outstanding
            tanggal 31 Desember 2023 adalah                                  balance as of December 31, 2023 is
            sebesar Rp4.784.576 dengan suku bunga                            amounting to Rp4,784,576 with the lowest
            paling rendah sebesar 4,45% dengan                               interest rate of 4.45% for a maximum
            jangka waktu paling lama 20 (dua puluh)                          period of 20 (twenty) years. Loan
            tahun. Pengembalian dana pinjaman                                repayments (principal and interest
            (angsuran pokok dan bunga) kepada SMF                            installments) to SMF is no later than the
            dilaksanakan paling lambat tanggal 10                            10th of each month, if the due date of
            setiap bulannya, apabila tanggal jatuh                           principal and interest payments falls on a
            tempo pembayaran pokok dan bunga                                 national holiday, the payment is made on
            jatuh pada hari libur nasional, maka                             the working day after the payment due
            pembayaran dilakukan pada hari kerja                             date.
            sesudah      tanggal      jatuh    tempo
            pembayaran.

            Pinjaman SMF Mudharabah Muqayadah                              SMF Loan Mudharabah Muqayadah FLPP
             FLPP 2023                                                       2023

             Berdasarkan perjanjian No. 006/FLPP/                            Based     on     loan    agreement     No.
             PP/SMF-BTNS/I/2023 dan No. 03/                                  006/FLPP/PP/SMF-BTNS/I/2023 and No.
             PKS/DIR/2023 tanggal 17 Januari 2023,                           03/PKS/DIR/2023 dated January 17,
             Bank mendapatkan pinjaman dalam                                 2023, the Bank received a loan which is
             rangka penyaluran kredit pemilikan rumah                        intended for distributing housing loans for
             sejahtera       untuk        masyarakat                         low-income communities.
             berpenghasilan rendah.

             Pencairan atas fasilitas ini dilakukan                          This disbursement of facility is carried out
             selama availability period sampai dengan                        during the availability period until
             tanggal 29 Desember 2023. Saldo pada                            December 29, 2023. The outstanding
             tanggal 31 Desember 2023 adalah                                 balance as of December 31, 2023 is
             sebesar Rp1.316.435 dengan nisbah bagi                          amounting to Rp1,316,435 with a profit
             hasil sebesar 22,25% yang dihitung dari                         sharing ratio of 22.25%, which is
             pendapatan bagi hasil yang ditawarkan                           calculated from profit sharing income
             atas fasilitas pembiayaan yang ditarik                          offered for financing facilities drawn during
             selama availability period atau dengan                          availability period or an equivalent of
             ekuivalen sebesar setara dengan 4,45%                           4.45% per annum for a maximum period
             per dengan jangka waktu paling lama 20                          of 20 (twenty) years. Loan repayments
             (dua puluh) tahun. Pengembalian dana                            (principal and interest instalments) to SMF
             pinjaman (angsuran pokok dan bunga)                             are held no later than the 10th of each
             kepada SMF dilaksanakan paling lambat                           month, if the due date of principal and
             tanggal 10 setiap bulannya, apabila                             interest payments falls on a national
             tanggal jatuh tempo pembayaran pokok                            holiday, the payment is made on the
             dan bunga jatuh pada hari libur nasional,                       working day after the payment due date.
             maka pembayaran dilakukan pada hari
             kerja sesudah tanggal jatuh tempo
             pembayaran.



                                                         175
Page 572
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

  PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
      CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
    Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                      unless otherwise stated)


24.   PINJAMAN YANG DITERIMA (lanjutan)                         24. FUND BORROWINGS (continued)

      e.   Pinjaman dari PT Sarana Multigriya Finansial             e. Loan from PT Sarana Multigriya Finansial
           (Persero) (SMF) (lanjutan)                                  (Persero) (SMF) (continued)

           Bank memiliki beberapa perjanjian pinjaman                    The Bank has several loan agreements with
           dengan SMF sebagai berikut (lanjutan):                        SMF as follow (continued):

              Pinjaman SMF FLPP 2022                                        SMF FLPP Year 2022

               Berdasarkan        perjanjian        No.                       Based      on    loan   agreement      No.
               016/FLPP/PP/SMF-BTN/I/2022 dan No.                             016/FLPP/PP/SMF-BTN/I/2022 and No.
               02/PKS/DIR/ 2022 tanggal 6 Januari                             02/PKS/DIR/2022 dated January 6, 2022,
               2022, Bank mendapatkan pinjaman                                the Bank received a loan which is intended
               dalam rangka penyaluran kredit pemilikan                       for distributing housing loans for low-
               rumah sejahtera untuk masyarakat                               income communities.
               berpenghasilan rendah.

               Pencairan atas fasilitas ini dilakukan                         This disbursement of facility is carried out
               selama availability period sampai dengan                       during the availability period until
               tanggal 31 Desember 2022. Saldo pada                           December 31, 2022. The outstanding
               tanggal 31 Desember 2023 dan 2022                              balance as of December 31, 2023 and
               adalah sebesar Rp4.302.198 dan                                 2022 is amounting to Rp4,302,198 and
               Rp.4.493.322 dengan suku bunga paling                          Rp4,493,322 with the lowest interest rate
               rendah sebesar 4,45% dengan jangka                             of 4.45% for a maximum period of 20
               waktu paling lama 20 (dua puluh) tahun.                        (twenty)    years.    Loan      repayments
               Pengembalian dana pinjaman (angsuran                           (principal and interest installments) to
               pokok dan bunga) kepada SMF                                    SMF is no later than the 10th of each
               dilaksanakan paling lambat tanggal 10                          month, if the due date of principal and
               setiap bulannya, apabila tanggal jatuh                         interest payments falls on a national
               tempo pembayaran pokok dan bunga                               holiday, the payment is made on the
               jatuh pada hari libur nasional, maka                           working day after the payment due date.
               pembayaran dilakukan pada hari kerja
               sesudah      tanggal      jatuh    tempo
               pembayaran.

              Pinjaman SMF Mudharabah Muqayadah                             SMF Loan         Mudharabah        Muqayadah
               FLPP 2022                                                      FLPP 2022

               Berdasarkan perjanjian No. 017/FLPP/                           Based     on     loan    agreement     No.
               AKAD/SMF-BTNS/I/2022 dan No. 04/                               017/FLPP/AKAD/SMF-BTNS/I/2022 and
               PKS/DIR/2022 tanggal 6 Januari 2022,                           No. 04/PKS/DIR/2022 dated January 6,
               Bank mendapatkan pinjaman dalam                                2022, the Bank received a loan which is
               rangka penyaluran kredit pemilikan rumah                       intended for distributing housing loans for
               sejahtera       untuk        masyarakat                        low-income communities.
               berpenghasilan rendah.




                                                          176
Page 573
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

  PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
      CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
       Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
    Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
         (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
             kecuali dinyatakan lain)                                      unless otherwise stated)


24.   PINJAMAN YANG DITERIMA (lanjutan)                         24. FUND BORROWINGS (continued)

      e. Pinjaman dari PT Sarana Multigriya Finansial               e.   Loan from PT Sarana Multigriya Finansial
         (Persero) (SMF) (lanjutan)                                      (Persero) (SMF) (continued)

         Bank memiliki beberapa perjanjian pinjaman                      The Bank has several loan agreements with
         dengan SMF sebagai berikut (lanjutan):                          SMF as follow (continued):

            Pinjaman SMF Mudharabah Muqayadah                               SMF Loan Mudharabah                Muqayadah
             FLPP 2022 (lanjutan)                                             FLPP 2022 (continued)

              Pencairan atas fasilitas ini dilakukan                          This disbursement of facility is carried out
              selama availability period sampai dengan                        during the availability period until
              tanggal 31 Desember 2022. Saldo pada                            December 31, 2022. The outstanding
              tanggal 31 Desember 2023 dan 2022                               balance as of December 31, 2023 and
              adalah      sebesar     Rp944.879    dan                        2022 is amounting to Rp944,879 and
              Rp990.267 dengan nisbah bagi hasil                              Rp990,267 with a profit sharing ratio of
              sebesar 22,25% yang dihitung dari                               22.25%, which is calculated from profit
              pendapatan bagi hasil yang ditawarkan                           sharing income offered for financing
              atas fasilitas pembiayaan yang ditarik                          facilities drawn during availability period or
              selama availability period atau dengan                          an equivalent of 4.45% per annum for a
              ekuivalen sebesar setara dengan 4,45%                           maximum period of 20 (twenty) years.
              per dengan jangka waktu paling lama 20                          Loan repayments (principal and interest
              (dua puluh) tahun. Pengembalian dana                            instalments) to SMF are held no later than
              pinjaman (angsuran pokok dan bunga)                             the 10th of each month, if the due date of
              kepada SMF dilaksanakan paling lambat                           principal and interest payments falls on a
              tanggal 10 setiap bulannya, apabila                             national holiday, the payment is made on
              tanggal jatuh tempo pembayaran pokok                            the working day after the payment due
              dan bunga jatuh pada hari libur nasional,                       date.
              maka pembayaran dilakukan pada hari
              kerja sesudah tanggal jatuh tempo
              pembayaran.

            Pinjaman SMF FLPP 2021                                          SMF Loan FLPP 2021

             Berdasarkan perjanjian No. 069/FLPP/                             Based on loan agreement No. 069/FLPP/
             PP/SMF-BTN/IV/2021 tanggal 14 April                              PP/SMF-BTN/IV/2021 dated April 14,
             2021, Bank mendapatkan pinjaman dalam                            2021, the Bank received a loan which is
             rangka penyaluran kredit pemilikan rumah                         intended for distributing housing loans for
             sejahtera       untuk        masyarakat                          low-income communities.
             berpenghasilan rendah.

             Pencairan atas fasilitas ini dilakukan                           This disbursement of facility is carried out
             selama availability period sampai dengan                         during the availability period until
             tanggal 31 Desember 2021. Saldo pada                             December 31, 2021. The outstanding
             tanggal 31 Desember 2023 dan 2022                                balance as of December 31, 2023 and
             adalah    sebesar     Rp3.170.553    dan                         2022 is amounting to Rp3,170,553 and
             Rp3.328.337 dengan suku bunga paling                             Rp3,328,337 with the lowest interest rate
             rendah sebesar 4,45% dengan jangka                               of 4.45% for a maximum period of 20
             waktu paling lama 20 (dua puluh) tahun.                          (twenty)    years.    Loan      repayments
             Pengembalian dana pinjaman (angsuran                             (principal and interest installments) to
             pokok dan bunga) kepada SMF                                      SMF is no later than the 10th of each
             dilaksanakan paling lambat tanggal 10                            month, if the due date of principal and
             setiap bulannya, apabila tanggal jatuh                           interest payments falls on a national
             tempo pembayaran pokok dan bunga                                 holiday, the payment is made on the
             jatuh pada hari libur nasional, maka                             working day after the payment due date.
             pembayaran dilakukan pada hari kerja
             sesudah      tanggal      jatuh    tempo
             pembayaran.



                                                          177
Page 574
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                         24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial             e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                    (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                    The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                        SMF as follow (continued):

           Pinjaman SMF FLPP 2020                                         SMF FLPP Year 2020

             Berdasarkan perjanjian No. 010/FLPP/                           Based      on      loan     agreement
             PP/SMF-BTN/I/2020 tanggal 20 Januari                           No. 010/FLPP/PP/SMF-BTN/I/2020 dated
             2020, Bank mendapatkan pinjaman dalam                          January 20, 2020, the Bank received a
             rangka penyaluran kredit pemilikan rumah                       loan which is intended for distributing
             Sejahtera       untuk        masyarakat                        housing    loans     for   low-income
             berpenghasilan rendah.                                         communities.

             Pencairan atas fasilitas ini dilakukan                         This disbursement of facility is carried out
             selama availability period sampai dengan                       during the availability period until
             tanggal 31 Desember 2020. Saldo pada                           December 31, 2020. The outstanding
             tanggal 31 Desember 2023 dan 2022                              balance as of December 31, 2023 and
             adalah    sebesar       Rp809.252    dan                       2022 is amounting to Rp809,252 and
             Rp854.264 dengan suku bunga paling                             Rp854,264 with the lowest interest rate of
             rendah sebesar 4,45% dengan jangka                             4.45% for a maximum period of 15 (fifteen)
             waktu paling lama 15 (lima belas) tahun.                       years. Loan repayments (principal and
             Pengembalian dana pinjaman (angsuran                           interest instalments) to SMF is no later
             pokok dan bunga) kepada SMF                                    than the 10th of each month, if the due
             dilaksanakan paling lambat tanggal 10                          date of principal and interest payments
             setiap bulannya, apabila tanggal jatuh                         falls on a national holiday, the payment is
             tempo pembayaran pokok dan bunga                               made on the working day after the
             jatuh pada hari libur nasional, maka                           payment due date.
             pembayaran dilakukan pada hari kerja
             sesudah      tanggal      jatuh    tempo
             pembayaran.

           Pinjaman SMF Mudharabah Muqayadah                              SMF Loan         Mudharabah        Muqayadah
            FLPP 2021                                                       FLPP 2021

             Berdasarkan perjanjian No. 069A/FLPP/                          Based        on      loan      agreement
             AKAD/SMF-BTN/IV/2021 tanggal 21 April                          No. 069A/FLPP/AKAD/SMF-BTN/IV/2021
             2021, Bank mendapatkan pinjaman dalam                          dated April 21, 2021, the Bank received a
             rangka penyaluran kredit pemilikan rumah                       loan which is intended for distributing
             sejahtera       untuk        masyarakat                        housing      loans     for    low-income
             berpenghasilan rendah.                                         communities.




                                                        178
Page 575
                                                                 The original financial statements included herein are in the
                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                          24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial              e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (pihak berelasi) (SMF) (lanjutan)                    (Persero) (related parties) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                     The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                         SMF as follow (continued):

           Pinjaman SMF Mudharabah Muqayadah                               SMF Loan Mudharabah                Muqayadah
            FLPP 2021 (lanjutan)                                             FLPP 2021 (continued)

             Pencairan atas fasilitas ini dilakukan                          This disbursement of facility is carried out
             selama availability period sampai dengan                        during the availability period until
             tanggal 31 Desember 2020. Saldo pada                            December 31, 2020. The outstanding
             tanggal 31 Desember 2023 dan 2022                               balance as of December 31, 2023 and
             adalah      sebesar     Rp673.030    dan                        2022 is amounting to Rp673,030 and
             Rp710.998 dengan nisbah bagi hasil                              Rp710,998 with a profit sharing ratio of
             sebesar 22,25% yang dihitung dari                               22.25%, which is calculated from profit
             pendapatan bagi hasil yang ditawarkan                           sharing income offered for financing
             atas fasilitas pembiayaan yang ditarik                          facilities drawn during availability period or
             selama availability period atau dengan                          an equivalent of 4.45% per annum for a
             ekuivalen sebesar setara dengan 4,45%                           maximum period of 15 (fifteen) years.
             per dengan jangka waktu paling lama 15                          Loan repayments (principal and interest
             (lima belas) tahun. Pengembalian dana                           instalments) to SMF are held no later than
             pinjaman (angsuran pokok dan bunga)                             the 10th of each month, if the due date of
             kepada SMF dilaksanakan paling lambat                           principal and interest payments falls on a
             tanggal 10 setiap bulannya, apabila                             national holiday, the payment is made on
             tanggal jatuh tempo pembayaran pokok                            the working day after the payment due
             dan bunga jatuh pada hari libur nasional,                       date.
             maka pembayaran dilakukan pada hari
             kerja sesudah tanggal jatuh tempo
             pembayaran.

            Refinancing 1 SMF 2021                                         Refinancing 1 SMF 2021

             Berdasarkan perjanjian No.124/PP/SMF-                           Based         on       loan     agreement
             BTN/VI/2021 tanggal 30 Juni 2021, Bank                          No.124/PP/SMF-BTN/VI/2021 dated June
             mendapatkan pinjaman dengan plafon                              30, 2021, the Bank received a loan with
             sebesar Rp500 miliar (angka penuh) dan                          plafond amounting to Rp500 billion (full
             Rp1.000 miliar (angka penuh) dengan                             amount) and Rp1,000 billion (full amount)
             bunga tetap 5,70% dan 5.95% yang akan                           with interest rate of 5.70% and 5.95% and
             jatuh tempo pada tanggal 30 Juni 2023                           will mature on June 30, 2023 and June 30,
             dan 30 Juni 2024.                                               2024.

             Bank telah melakukan pelunasan atas                             The Bank has fully repaid the loan at
             pinjaman tersebut saat jatuh tempo pada                         maturity date on June 30, 2023 amounting
             tanggal 30 Juni 2023 sebesar Rp500                              to Rp500 billion (full amount).
             miliar (angka penuh).




                                                         179
Page 576
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                         24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial             e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (pihak berelasi) (SMF) (lanjutan)                   (Persero) (related parties) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                    The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                        SMF as follow (continued):

            Refinancing 2 SMF 2021                                        Refinancing 2 SMF 2021
             Berdasarkan perjanjian No.254/PP/SMF-                          Based          on      loan        agreement
             BTN/XII/2021 tanggal 28 Desember 2021,                         No.254/PP/SMF-BTN/XII/2021               dated
             Bank mendapatkan pinjaman dengan                               December 28, 2021, the Bank received a
             plafon sebesar Rp200 miliar (angka                             loan with plafond amounting to Rp200
             penuh) dengan bunga tetap 4% yang                              billion (full amount) with interest rate of 4%
             akan jatuh tempo pada tanggal 28                               and will mature on December 28, 2022.
             Desember 2022.
             Bank telah melakukan pelunasan atas                            The Bank has fully repaid the loan at
             pinjaman tersebut saat jatuh tempo pada                        maturity date on December 28, 2022
             tanggal 28 Desember 2022 sebesar                               amounting to Rp200 billion (full amount).
             Rp200 miliar (angka penuh).
            Refinancing 1 SMF 2022                                        Refinancing 1 SMF 2022

             Berdasarkan perjanjian No.119/PP/SMF-                          Based     on    loan     agreement  No.
             BTN/IV/2022 tanggal 28 April 2022, Bank                        119/PP/SMF-BTN/IV/2022 dated April 28,
             mendapatkan pinjaman dengan plafon                             2022, the Bank received a loan with
             sebesar Rp2 triliun (angka penuh) dengan                       plafond amounting to Rp2 trillion (full
             bunga tetap 5,60% yang akan jatuh tempo                        amount) with interest rate of 5.60% and
             pada tanggal 28 April 2025.                                    will mature on April 28, 2025.

            Pinjaman SMF FLPP 2019                                        SMF Loan FLPP 2019

            Berdasarkan       perjanjian        No.                         Based      on      loan     agreement
            099/PP/FLPP/SMF-BTN/I/2019 tanggal                              099/PP/FLPP/SMF-BTN/I/2019       dated
            17 Januari 2019, Bank mendapatkan                               January 17, 2019, the Bank received a
            pinjaman dalam rangka penyaluran kredit                         loan which is intended for distributing
            pemilikan   rumah    sejahtera    untuk                         housing    loans     for   low-income
            masyarakat berpenghasilan rendah.                               communities.

            Pencairan atas fasilitas ini dilakukan                         This disbursement of facility is carried out
            selama availability period sampai dengan                       during the availability period until
            tanggal 31 Desember 2019. Saldo pada                           December 31, 2019. The outstanding
            tanggal 31 Desember 2023 dan 2022                              balance as of December 31, 2023 and
            adalah     sebesar      Rp755.927    dan                       2022 is amounting to Rp755,927 and
            Rp803.296 dengan suku bunga paling                             Rp803,296 respectively, with the lowest
            rendah sebesar 4,45% dengan jangka                             interest rate of 4.45% for a maximum
            waktu paling lama 15 (lima belas) tahun.                       period of 15 (fifteen) years. Loan
            Pengembalian dana pinjaman (angsuran                           repayments (principal and interest
            pokok dan bunga) kepada SMF                                    installments) to SMF is no later than the
            dilaksanakan paling lambat tanggal 10                          10th of each month, if the due date of
            setiap bulannya, apabila tanggal jatuh                         principal and interest payments falls on a
            tempo pembayaran pokok dan bunga                               national holiday, the payment is made on
            jatuh pada hari libur nasional, maka                           the working day after the payment due
            pembayaran dilakukan pada hari kerja                           date.
            sesudah      tanggal      jatuh    tempo
            pembayaran.




                                                        180
Page 577
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                         24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial             e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                    (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                    The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                        SMF as follow (continued):

           Pinjaman SMF Mudharabah Muqayadah                              SMF Loan Mudharabah Muqayadah

            Berdasarkan perjanjian No. 179/AKAD/                           Based on loan agreement No. 179/AKAD/
            SMF-BTNS/IX/2021        tanggal     15                         SMF-BTNS/IX/2021 dated September 15,
            September 2021, Bank mendapatkan                               2021, the Bank received loan with plafond
            pinjaman dengan plafon sebesar Rp100                           amounting to Rp100 bilion (full amount)
            miliar (angka penuh) dengan nisbah bagi                        with nisbah ratio 53.17% and will mature
            hasil sebesar 53,17% dan akan jatuh                            on September 16, 2022.
            tempo pada tanggal 16 September 2022.

            Bank telah melakukan pelunasan atas                             The Bank has fully repaid the loan at
            pinjaman tersebut saat jatuh tempo pada                         maturity date on September 16, 2022
            tanggal 16 September 2022 sebesar                               amounting to Rp100 billion (full amount).
            Rp100 miliar (angka penuh).

           Pinjaman SMF Mudharabah Muqayadah                              SMF Loan         Mudharabah        Muqayadah
            FLPP 2020                                                       FLPP 2020

            Berdasarkan perjanjian No.024/FLPP/                            Based on loan agreement No. 024/FLPP/
            AKAD/SMF-BTNSy/I/2020 tanggal 29                               AKAD/SMF-BTNSy/I/2020 dated January
            Januari 2020, Bank mendapatkan                                 29, 2020, the Bank received a loan which
            pinjaman dalam rangka penyaluran kredit                        is intended for distributing housing loans
            pemilikan   rumah    sejahtera    untuk                        for low-income communities.
            masyarakat berpenghasilan rendah.

            Pencairan atas fasilitas ini dilakukan                          This disbursement of facility is carried out
            selama availability period sampai dengan                        during the availability period until
            tanggal 31 Desember 2020. Saldo pada                            December 31, 2020. The outstanding
            tanggal 31 Desember 2023 dan 2022                               balance as of December 31, 2023 and
            adalah      sebesar     Rp158.041    and                        2022 is amounting to Rp158,041 and
            Rp168.256 dengan nisbah bagi hasil                              Rp168,256 with a profit sharing ratio of
            sebesar 22,25% yang dihitung dari                               22.25%, which is calculated from profit
            pendapatan bagi hasil yang ditawarkan                           sharing income offered for financing
            atas fasilitas pembiayaan yang ditarik                          facilities drawn during availability period or
            selama availability period atau dengan                          an equivalent of 4.45% per annum with
            ekuivalen sebesar setara dengan 4,45%                           revenue divided by using the average
            per tahun dengan pendapatan yang                                yield rate effective financing for KPR
            dibagihasilkan yang menggunakan rata-                           Sejahtera Financing equal to 5% per year
            rata tingkat imbal hasil kas efektif dari                       for a maximum period of 15 (fifteen) years.
            Pembiayaan KPR Sejahtera sebesar                                Loan repayments (principal and interest
            setara dengan 5% per tahun dengan                               instalments) to SMF are held no later than
            jangka waktu paling lama 15 (lima belas)                        the 10th of each month, if the due date of
            tahun. Pengembalian dana pinjaman                               principal and interest payments falls on a
            (angsuran pokok dan bunga) kepada SMF                           national holiday, the payment is made on
            dilaksanakan paling lambat tanggal 10                           the working day after the payment due
            setiap bulannya, apabila tanggal jatuh                          date.
            tempo pembayaran pokok dan bunga
            jatuh pada hari libur nasional, maka
            pembayaran dilakukan pada hari kerja
            sesudah       tanggal     jatuh    tempo
            pembayaran.



                                                        181
Page 578
                                                               The original financial statements included herein are in the
                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                    unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                        24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial            e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                   (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                   The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                       SMF as follow (continued):

           Pinjaman SMF FLPP 2018                                        SMF Loan FLPP 2018

            Berdasarkan perjanjian No. 81/PP/SMF-                         Based on loan agreement No. 81/PP/SMF-
            BTN/VIII/2018 tanggal 14 Agustus 2018,                        BTN/VIII/2018 dated August 14, 2018, the
            Bank mendapatkan pinjaman dalam                               Bank received a loan which is intended for
            rangka penyaluran kredit pemilikan rumah                      distributing housing loans for low-income
            sejahtera       untuk        masyarakat                       communities.
            berpenghasilan rendah.

            Pencairan atas fasilitas ini dilakukan                        This disbursement of facility is carried out
            selama availability period sampai dengan                      during the availability period until
            tanggal 28 Desember 2018. Saldo pada                          December 28, 2018. The Outstanding
            tanggal 31 Desember 2023 dan 2022                             Balance as of December 31, 2023 and
            masing-masing sebesar Rp571.300 dan                           2022 amounting to Rp571,300 and
            Rp607.414 dengan suku bunga paling                            Rp607,414, respectively with the lowest
            rendah sebesar 4,45% dengan jangka                            interest rate of 4.45% for a maximum
            waktu paling lama 15 (lima belas) tahun.                      period of 15 (fifteen) years. Loan
            Pengembalian dana pinjaman (angsuran                          repayments (principal and interest
            pokok dan bunga) kepada SMF                                   instalments) to the SMF are held no later
            dilaksanakan paling lambat tanggal 10                         than the 10th of each month, if the due date
            setiap bulannya, apabila tanggal jatuh                        of principal and interest payments falls on
            tempo pembayaran pokok dan bunga                              a national holiday, the payment is made on
            jatuh pada hari libur nasional, maka                          the working day after the payment due
            pembayaran dilakukan pada hari kerja                          date.
            sesudah      tanggal      jatuh    tempo
            pembayaran.

           Pinjaman SMF Mudharabah Muqayadah                             SMF Loan         Mudharabah        Muqayadah
            FLPP 2018                                                      FLPP 2018

            Berdasarkan perjanjian No.103A/AKAD/                          Based on loan agreement No.103A/
            SMF-BTNSy/VIII/2018 tanggal 14 Agustus                        AKAD/SMF-BTNSy/VIII/2018             dated
            2018, Bank mendapatkan pinjaman dalam                         August 14, 2018, the Bank received a loan
            rangka penyaluran kredit pemilikan rumah                      which is intended for distributing housing
            sejahtera       untuk        masyarakat                       loans for low-income communities.
            berpenghasilan rendah.




                                                       182
Page 579
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                         24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial             e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                    (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                    The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                        SMF as follow (continued):

           Pinjaman SMF Mudharabah Muqayadah                              SMF Loan Mudharabah                Muqayadah
            FLPP 2018 (lanjutan)                                            FLPP 2018 (continued)

            Pencairan atas fasilitas ini dilakukan                         This disbursement of facility is carried out
            selama availability period sampai dengan                       during the availability period until
            tanggal 28 Desember 2018. Saldo pada                           December 28, 2018. The outstanding
            tanggal 31 Desember 2023 dan 2022                              balance as of December 31, 2023 and
            masing-masing sebesar Rp24.733 dan                             2022 is amounting to Rp24,733 and
            Rp26.616 dengan nisbah bagi hasil                              Rp26,616 respectively with a profit sharing
            sebesar 22,25% yang dihitung dari                              ratio of 22.25%, which is calculated from
            pendapatan bagi hasil yang ditawarkan                          profit sharing income offered for financing
            atas fasilitas pembiayaan yang ditarik                         facilities drawn during availability period or
            selama availability period atau dengan                         an equivalent of 4.45% per annum with
            ekuivalen sebesar setara dengan 4,45%                          revenue divided by using the average yield
            per tahun dengan pendapatan yang                               rate effective cash financing for KPR
            dibagihasilkan yang menggunakan rata-                          Sejahtera Financing equal to 5% per year
            rata tingkat imbal hasil kas efektif dari                      for a maximum period of 15 (fifteen) years.
            Pembiayaan KPR Sejahtera sebesar                               Loan repayments (principal and interest
            setara dengan 5% per tahun dengan                              instalments) to the SMF are held no later
            jangka waktu paling lama 15 (lima belas)                       than the 10th of each month, if the due date
            tahun. Pengembalian dana pinjaman                              of principal and interest payments falls on
            (angsuran pokok dan bunga) kepada SMF                          a national holiday, the payment is made on
            dilaksanakan paling lambat tanggal                             the working day after the payment due
            10 setiap bulannya, apabila tanggal jatuh                      date.
            tempo pembayaran pokok dan bunga
            jatuh pada hari libur nasional, maka
            pembayaran dilakukan pada hari kerja
            sesudah       tanggal     jatuh    tempo
            pembayaran.

           Pinjaman SMF Mudharabah Muqayadah                              SMF Loan         Mudharabah        Muqayadah
            FLPP 2019                                                       FLPP 2019

            Berdasarkan perjanjian No. 017A/AKAD/                          Based on loan agreement No. 017A/
            FLPP/SMF-BTNSy/I/2019 tanggal 21                               AKAD/FLPP/SMF-BTNSy/I/2019       dated
            Januari 2019, Bank mendapatkan                                 January 21, 2019, the Bank received a
            pinjaman dalam rangka penyaluran kredit                        loan which is intended for distributing
            pemilikan   rumah     sejahtera   untuk                        housing    loans     for   low-income
            masyarakat berpenghasilan rendah.                              communities.




                                                        183
Page 580
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                              24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial                  e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                         (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                         The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                             SMF as follow (continued):

           Pinjaman SMF Mudharabah Muqayadah                                   SMF Loan Mudharabah                Muqayadah
            FLPP 2019 (lanjutan)                                                 FLPP 2019 (continued)

            Pencairan atas fasilitas ini dilakukan                               This disbursement of facility is carried out
            selama availability period sampai dengan                             during the availability period until
            tanggal 31 Desember 2019. Saldo pada                                 December 31, 2019. The outstanding
            tanggal 31 Desember 2023 dan 2022                                    balance as of December 31, 2023 and
            adalah sebesar Rp88.938 dan Rp95.575                                 2022 is Rp88,938 and Rp95,575,
            dengan nisbah bagi hasil sebesar 22,25%                              respectively with a profit sharing ratio of
            yang dihitung dari pendapatan bagi hasil                             22.25%, which is calculated from profit
            yang ditawarkan atas fasilitas pembiayaan                            sharing income offered for financing
            yang ditarik selama availability period atau                         facilities drawn during availability period or
            dengan ekuivalen sebesar setara dengan                               an equivalent of 4.45% per annum with
            4,45% per tahun dengan pendapatan                                    revenue divided by using the average
            yang dibagihasilkan yang menggunakan                                 yield rate effective cash financing for KPR
            rata-rata tingkat imbal hasil kas efektif dari                       Sejahtera Financing equal to 5% per year
            Pembiayaan KPR Sejahtera sebesar                                     for a maximum period of 15 (fifteen) years.
            setara dengan 5% per tahun dengan                                    Loan repayments (principal and interest
            jangka waktu paling lama 15 (lima belas)                             instalments) to the SMF are held no later
            tahun. Pengembalian dana pinjaman                                    than the 10th of each month, if the due
            (angsuran pokok dan bunga) kepada SMF                                date of principal and interest payments
            dilaksanakan paling lambat tanggal                                   falls on a national holiday, the payment is
            10 setiap bulannya, apabila tanggal jatuh                            made on the working day after the
            tempo pembayaran pokok dan bunga                                     payment due date.
            jatuh pada hari libur nasional, maka
            pembayaran dilakukan pada hari kerja
            sesudah        tanggal     jatuh      tempo
            pembayaran.

           Pinjaman SMF Mudharabah Muqayadah                                   SMF Loan Mudharabah                Muqayadah
            FLPP Percepatan 2019                                                 FLPP Percepatan 2019

            Berdasarkan perjanjian No. 216/FLPP/                                Based        on       loan      agreement
            AKAD/SMF-BTN/XII/2019 tanggal 20                                    No. 216/FLPP/AKAD/SMF-BTN/XII/2019
            Desember 2019, Bank mendapatkan                                     dated December 20, 2019, the Bank
            pinjaman dalam rangka penyaluran kredit                             received loan which is intended for
            pemilikan   rumah    sejahtera    untuk                             distributing housing loans for low-income
            masyarakat berpenghasilan rendah.                                   communities.




                                                             184
Page 581
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                              24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial                  e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                         (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                         The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                             SMF as follow (continued):

           Pinjaman SMF Mudharabah Muqayadah                                   SMF Loan Mudharabah Muqayadah
            FLPP Percepatan 2019 (lanjutan)                                      FLPP Percepatan 2019 (continued)

            Pencairan atas fasilitas ini dilakukan                              This disbursement of facility is carried out
            selama availability period sampai dengan                            during the availability period until
            tanggal 31 Desember 2019. Saldo pada                                December 31, 2019. The outstanding
            tanggal 31 Desember 2023 dan 2022                                   balance as of December 31, 2023 and
            adalah sebesar Rp24.497 dan Rp26.238                                2022 is Rp24,497 and Rp26,238 with a
            dengan nisbah bagi hasil sebesar 22,25%                             profit sharing ratio of 22.25%, which is
            yang dihitung dari pendapatan bagi hasil                            calculated from profit sharing income
            yang ditawarkan atas fasilitas pembiayaan                           offered for financing facilities drawn during
            yang ditarik selama availability period atau                        availability period or an equivalent of
            dengan ekuivalen sebesar setara dengan                              4.45% per annum with revenue divided by
            4,45% per tahun dengan pendapatan                                   using the average yield rate effective cash
            yang dibagihasilkan yang menggunakan                                financing for KPR Sejahtera Financing
            rata-rata tingkat imbal hasil kas efektif dari                      equal to 5% per year for a maximum period
            Pembiayaan KPR Sejahtera sebesar                                    of 15 (fifteen) years. Loan repayments
            setara dengan 5% per tahun dengan                                   (principal and interest instalments) to the
            jangka waktu paling lama 15 (lima belas)                            SMF are held no later than the 10th of each
            tahun. Pengembalian dana pinjaman                                   month, if the due date of principal and
            (angsuran pokok dan bunga) kepada SMF                               interest payments falls on a national
            dilaksanakan paling lambat tanggal                                  holiday, the payment is made on the
            10 setiap bulannya, apabila tanggal jatuh                           working day after the payment due date.
            tempo pembayaran pokok dan bunga
            jatuh pada hari libur nasional, maka
            pembayaran dilakukan pada hari kerja
            sesudah        tanggal     jatuh      tempo
            pembayaran.

           Pinjaman SMF FLPP Percepatan 2019                                   SMF Loan FLPP Percepatan 2019

            Berdasarkan perjanjian No. 203/FLPP/PP/                             Based    on    loan   agreement    No.
            SMF-BTN/XI/2019 tanggal 28 November                                 203/FLPP/PP/SMF-BTN/XI/2019      dated
            2019, Bank mendapatkan pinjaman dalam                               November 28, 2019, the Bank received a
            rangka penyaluran kredit pemilikan rumah                            loan which is intended for distributing
            sejahtera       untuk        masyarakat                             housing     loans    for   low-income
            berpenghasilan rendah.                                              communities.




                                                             185
Page 582
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


24. PINJAMAN YANG DITERIMA (lanjutan)                            24. FUND BORROWINGS (continued)

   e.   Pinjaman dari PT Sarana Multigriya Finansial                 e.   Loan from PT Sarana Multigriya Finansial
        (Persero) (SMF) (lanjutan)                                        (Persero) (SMF) (continued)

        Bank memiliki beberapa perjanjian pinjaman                        The Bank has several loan agreements with
        dengan SMF sebagai berikut (lanjutan):                            SMF as follow (continued):

            Pinjaman SMF FLPP Percepatan 2019                                   SMF Loan       FLPP     Percepatan       2019
             (lanjutan)                                                           (continued)

             Pencairan atas fasilitas ini dilakukan                              This disbursement of facility is carried out
             selama availability period sampai dengan                            during the availability period until
             tanggal 31 Desember 2019. Saldo pada                                December 31, 2019. The Outstanding
             tanggal 31 Desember 2023 dan 2022                                   Balance as of December 31, 2023 and
             adalah     sebesar      Rp373.929    dan                            2022 is amounting to Rp373,929 and
             Rp396.120 dengan suku bunga paling                                  Rp396,120, respectively with the lowest
             rendah sebesar 4,45% dengan jangka                                  interest rate of 4.45% for a maximum
             waktu paling lama 15 (lima belas) tahun.                            period of 15 (fifteen) years. Loan
             Pengembalian dana pinjaman (angsuran                                repayments (principal and interest
             pokok dan bunga) kepada SMF                                         installments) to SMF is no later than the
             dilaksanakan paling lambat tanggal 10                               10th of each month, if the due date of
             setiap bulannya, apabila tanggal jatuh                              principal and interest payments falls on a
             tempo pembayaran pokok dan bunga                                    national holiday, the payment is made on
             jatuh pada hari libur nasional, maka                                the working day after the payment due
             pembayaran dilakukan pada hari kerja                                date.
             sesudah      tanggal      jatuh    tempo
             pembayaran.

        Pinjaman yang diterima dari pihak-pihak                           As of December 31, 2023 and 2022, fund
        berelasi pada tanggal 31 Desember 2023 dan                        borrowings received from related parties
        2022 masing-masing sebesar Rp22.453.290                           amounted to Rp22,453,290 and Rp17,455,685,
        dan Rp17.455.685 (Catatan 43).                                    respectively (Note 43).

        Pada tanggal 31 Desember 2023 dan 2022,                           As of December 31, 2023 and 2022, the Bank
        Bank telah memenuhi ketentuan dan kondisi                         has complied with all of the existing terms and
        yang ada dalam seluruh perjanjian pinjaman                        condition of the fund borrowing agreements.
        yang diterima.


25. PINJAMAN DAN EFEK-EFEK SUBORDINASI                           25. SUBORDINATED LOAN AND SECURITIES


                                           31 Desember/         31 Desember/
                                          December 31, 2023   December 31, 2022
    Mata Uang Asing                                                                                         Foreign Currency
    Pihak Ketiga                                                                                                Third Parties
    Obligasi Subordinasi                         4.612.840           4.658.242                            Subordinated bonds

    Rupiah                                                                                                             Rupiah
    Pihak Berelasi (Catatan 43)                                                                       Related Party (Note 43)
    Pinjaman Subordinasi dari                                                                        Subordinated Loan from
         PT Sarana Multigriya Finansial                                                         PT Sarana Multigriya Finansial
         (Persero)                               4.499.997           4.499.977                                 (Persero)
    Total                                        9.112.837           9.158.219                                           Total




                                                        186
Page 583
                                                               The original financial statements included herein are in the
                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                    unless otherwise stated)


25. PINJAMAN DAN EFEK-EFEK SUBORDINASI                       25. SUBORDINATED           LOAN       AND      SECURITIES
    (lanjutan)                                                   (continued)

  a. Pinjaman Subordinasi PT Sarana Multigriya                  a.   PT Sarana Multigriya Finansial (Persero) (SMF)
     Finansial (Persero) (SMF)                                       Subordinated Loan
     Akun ini merupakan fasilitas pemberian Pinjaman                 This account is a subordinated loan that was
     Subordinasi yang diperoleh dari PT SMF                          obtained from PT SMF (Persero) that is aimed
     (Persero) yang ditujukan untuk mendukung                        to support the one million housing program.
     Program Sejuta Rumah. Pinjaman Subordinasi                      Subordinated loan in the amount of
     sebesar Rp3.000.000 dengan suku bunga 8,90%                     Rp3,000,000 with interest rate of 8.90% was
     dilakukan pencairan pada tanggal 27 Desember                    withdrawn on December 27, 2019 and will
     2019 yang akan jatuh tempo pada tanggal 27                      mature on December 27, 2024. On 15
     Desember 2024. Pada tanggal 15 November                         November 2021, Bank disburse Subordinated
     2021, Bank melakukan pencairan Pinjaman                         Loan amounting Rp1,500,000 with interest rate
     Subordinasi pada tanggal 15 November 2021                       7.65% mature on November 15, 2026.
     sebesar Rp1.500.000 dengan suku bunga 7,65%
     yang akan jatuh tempo pada tanggal 15
     November 2026.
     Pinjaman subordinasi ini telah mendapat                         Subordinated loan has been approved by
     persetujuan dari Otoritas Jasa Keuangan (OJK)                   Financial Service Authority through letter No. S-
     melalui surat No. S-69/PB.31/2016 tanggal 30                    69/PB.31/2016 dated September 30, 2016 and
     September 2016 dan No. S-21/PB.31/2020                          No. S-21/PB.31/2020 dated February 4, 2020
     tanggal 4 Februari 2020 dan No. S-                              and No. S-261/PB.31/2021 dated November 25,
     261/PB.31/2021 tanggal 25 November 2021.                        2021.
  b. Obligasi Subordinasi                                      b.    Subordinated Bonds
     Pada tanggal 23 Januari 2020, Bank telah                        On January 23, 2020, the Bank issued
     menerbitkan obligasi subordinasi sebesar                        subordinated bonds with a total nominal value of
     ASD300 juta atau ekuivalen Rp4.089.000                          USD300 million or the equivalent to
     dengan tenor 5 tahun dan bunga 4,20% per tahun                  Rp4,089,000, with tenor of 5 years and interest
     dan dicatatkan di Bursa Efek Singapura.                         of 4.20% per annum and listed in the Singapore
     Penerbitan Obligasi tersebut telah dinyatakan                   Stock Exchange.The issuance of Global Bond
     efektif berdasarkan surat Otoritas Jasa                         became effective based on letter No.
     Keuangan No. S-35/PB.31/ 2020 tanggal 26                        S-35/PB.31/2020 dated February 26, 2020.
     Februari 2020.
     Biaya penerbitan obligasi subordinasi tersebut                  The issuance costs of the subordinated bonds
     sebesar Rp23.866 dicatat mengurangi nilai                       amounting to Rp23,866 was recorded as
     obligasi subordinasi dan akan diamortisasi                      deduction to the amount of the subordinated
     sampai dengan tanggal jatuh tempo pada 23                       bonds and amortised until the maturity date on
     Januari 2025.                                                   January 23, 2025.

     Pada tanggal 31 Desember 2023 dan 2022, Bank                    As of December 31, 2023 and 2022, the Bank
     telah memenuhi ketentuan dan kondisi yang ada                   has complied with all of the existing terms and
     dalam seluruh perjanjian pinjaman subordinasi                   conditions   of   the      subordinated    loan
     yang diterima.                                                  agreements.
     Bank melakukan lindung nilai arus kas atas                      Bank entered into partial cashflow hedge for
     pokok dan bunga dari sebagian porsi obligasi                    principal and interest of subordinated bond
     subordinasi (Catatan 12).                                       (Note 12).




                                                       187
Page 584
                                                                                  The original financial statements included herein are in the
                                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                       unless otherwise stated)


26. BUNGA YANG MASIH HARUS DIBAYAR                                             26. INTEREST PAYABLE

                                                     31 Desember/             31 Desember/
                                                  December 31, 2023         December 31, 2022

    Deposito berjangka                                      324.118                  334.877                                   Time deposits
    Pinjaman subordinasi                                                                                                    Subordinated loan
      dan efek-efek subordinasi                             113.839                  114.971                                  and securities
    Pinjaman yang diterima                                   81.069                   51.072                                 Fund borrowings
    Surat-surat berharga yang diterbitkan                    71.460                   79.538                                 Securities issued
    Derivatif                                                57.010                   48.908                                        Derivative

    Total                                                   647.496                  629.366                                               Total


27. ESTIMASI  KERUGIAN                      KOMITMEN        DAN                27. ESTIMATED LOSSES ON COMMITMENTS AND
    KONTINJENSI                                                                    CONTINGENCIES
   Kolektibilitas garansi yang diterbitkan dan fasilitas                           The collectibility classification of guarantees issued
   kredit yang belum ditarik yang mempunyai risiko                                 and unused loan facility bearing credit risks are as
   kredit adalah sebagai berikut:                                                  follows:

                                                31 Desember/                        31 Desember/
                                              December 31, 2023                    December 31, 2022

                                        Jumlah nosional                      Jumlah nosional
                                        mata uang asing/                     mata uang asing/
                                        Notional amount                      Notional amount
                                          in foreign                           in foreign
                                          currencies       Ekuivalen/          currencies       Ekuivalen/
                                        (angka penuh/      Equivalent        (angka penuh/      Equivalent
                                         full amount)       Rupiah            full amount)       Rupiah


   Lancar                                                                                                                               Current
   Rupiah                                                                                                                               Rupiah
    Garansi yang diterbitkan (Catatan 39)                     2.112.148                             887.321       Guarantees issued (Note 39)
    Fasilitas kredit
        yang belum ditarik (committed)                         127.083                                67.928   Unused loan facility (committed)
    Irrevocable L/C yang masih                                                                                       Outstanding irrevocable
        berjalan (Catatan 39)                                    20.106                             221.484                L/Cs (Note 39)
                                                              2.259.337                            1.176.733


   Mata uang asing                                                                                                           Foreign currencies
    Garansi yang diterbitkan (Catatan 39)                                                                           Guarantees issued (Note 39)
       Dolar Amerika Serikat                 30.269.447        466.059            3.869.076           60.232          United States Dollar
      Euro Eropa                                 56.784            968               56.784              942               European Euro
                                                               467.027                                61.174

                                                              2.726.364                            1.237.907


   Dalam Perhatian Khusus                                                                                                        Special mention
   Rupiah                                                                                                                                Rupiah
    Fasilitas kredit
       yang belum ditarik (committed)                                   -                             12.200     Unused loan facility (committed)
   Total                                                      2.726.364                            1.250.107                               Total



   Pada tanggal 31 Desember 2023 dan 2022 tidak                                    As of December 31, 2023 and 2022, there are no
   terdapat transaksi dengan pihak-pihak berelasi                                  transaction with related parties for unused loan
   untuk fasilitas kredit yang belum ditarik.                                      facility.
   Pada tanggal 31 Desember 2023 dan 2022, garansi                                 As of December 31, 2023 and 2022, guarantees
   bank yang diterbitkan kepada pihak-pihak berelasi,                              issued to related parties amounted to Rp1,116,581
   masing-masing sebesar         Rp1.116.581 dan                                   and Rp426,438, respectively (Note 43).
   Rp426.438 (Catatan 43).



                                                                  188
Page 585
                                                                                                  The original financial statements included herein are in the
                                                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                    unless otherwise stated)


27. ESTIMASI  KERUGIAN                          KOMITMEN                    DAN            27. ESTIMATED LOSSES ON COMMITMENTS AND
    KONTINJENSI (lanjutan)                                                                     CONTINGENCIES (continued)

   Perubahan nilai tercatat bruto adalah sebagai                                                   Movements in the gross carrying amount are as
   berikut:                                                                                        follows:
                                                                        31 Desember/December 31, 2023

                                                   Stage 1             Stage 2          Stage 3         Syariah*)           Total

           Fasilitas kredit yang                                                                                                                               Unused loan
             belum ditarik (committed)                                                                                                              facility (committed)
           Saldo Awal                                    80.128                   -                -                -           80.128                  Beginning balance
           Pengalihan ke:                                                                                                                                       Transfer to:
             Stage 1                                           -                  -                -                -                 -                           Stage 1
             Stage 2                                           -                  -                -                -                 -                           Stage 2
             Stage 3                                           -                  -                -                -                 -                          Stage 3

           Total saldo awal setelah                                                                                                                  Total opening balance
             pengalihan                                  80.128                   -                -                -           80.128                      after transfer


           Pengukuran kembali bersih                                                                                                                 Net remeasurement of
             nilai tercatat                              29.126                   -                -                -           29.126                   carrying amount
           Aset keuangan baru yang                                                                                                                     New financial assets
             diterbitkan atau dibeli                     26.995                   -                -                -           26.995           originated or purchased
           Aset keuangan yang                                                                                                                       Derecognized financial
             dihentikan pengakuannya                     (9.166)                  -                -                -           (9.166)                            assets


           Total Penambahan/(penurunan)                                                                                                           Total additional/(reversal)
             tahun berjalan                              46.955                   -                -                -           46.955                    during the year

           Saldo akhir tahun                            127.083                   -                -                -          127.083**)      Balance at the end of year


      *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                              *) Not applying SFAS No. 71 ”Financial Instruments”
      **) Terdiri dari fasilitas kredit yang committed yang belum ditarik                               **) Consist of committed unused loan facility

                                                                   31 Desember/December 31, 2022

                                                   Stage 1             Stage 2          Stage 3         Syariah*)           Total

           Fasilitas kredit yang                                                                                                                               Unused loan
             belum ditarik (committed)                                                                                                              facility (committed)
           Saldo Awal                                    89.811              8.123                 -                -           97.934                  Beginning balance
           Pengalihan ke:                                                                                                                                       Transfer to:
             Stage 1                                      8.123             (8.123)                -                -                 -                           Stage 1
             Stage 3                                          -                   -                -                -                 -                           Stage 3

           Total saldo awal setelah                                                                                                                  Total opening balance
             pengalihan                                  97.934                   -                -                -           97.934                      after transfer


           Pengukuran kembali bersih                                                                                                                 Net remeasurement of
             nilai tercatat                                  226                  -                -                -               226                  carrying amount
           Aset keuangan baru yang                                                                                                                     New financial assets
             diterbitkan atau dibeli                           -                  -                -                -                 -          originated or purchased
           Aset keuangan yang                                                                                                                       Derecognized financial
             dihentikan pengakuannya                   (18.032)                   -                -                -         (18.032)                             assets


           Total Penambahan/(penurunan)                                                                                                           Total additional/(reversal)
             tahun berjalan                            (17.806)                   -                -                -         (17.806)                    during the year

           Saldo akhir tahun                             80.128                   -                -                -           80.128**)      Balance at the end of year


      *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                              *) Not applying SFAS No. 71 ”Financial Instruments”
      **) Terdiri dari fasilitas kredit yang committed yang belum ditarik                               **) Consist of committed unused loan facility




                                                                                  189
Page 586
                                                                                          The original financial statements included herein are in the
                                                                                                                                Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                        As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                  and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                            unless otherwise stated)


27. ESTIMASI  KERUGIAN                    KOMITMEN                 DAN             27. ESTIMATED LOSSES ON COMMITMENTS AND
    KONTINJENSI (lanjutan)                                                             CONTINGENCIES (continued)

   Perubahan nilai tercatat bruto adalah sebagai                                           Movements in the gross carrying amount are as
   berikut:                                                                                follows:

                                                                 31 Desember/December 31, 2023

                                                Stage 1         Stage 2         Stage 3          Syariah*)          Total

          Irrevocable L/C yang masih berjalan                                                                                       Outstanding irrevocable L/Cs
          Saldo Awal                               221.484                -                -                 -         221.484                  Beginning balance
          Pengukuran kembali bersih                                                                                                          Net remeasurement of
             nilai tercatat                       (175.450)               -                -                 -       (175.450)                   carrying amount
          Aset keuangan baru yang                                                                                                              New financial assets
             diterbitkan atau dibeli               460.627                -                -                 -         460.627           originated or purchased
          Aset keuangan yang                                                                                                                Derecognized financial
             dihentikan pengakuannya              (486.555)               -                -                 -       (486.555)                             assets

          Total penambahan/(penurunan)                                                                                                    Total additional/(reversal)
            tahun berjalan                        (201.378)               -                -                 -       (201.378)                   during the period

          Saldo akhir tahun                         20.106                -                -                 -          20.106         Balance at the end of year


      *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                      *) Not applying SFAS No. 71 ”Financial Instruments”


                                                              31 Desember/December 31, 2022

                                                Stage 1         Stage 2         Stage 3          Syariah*)          Total

          Irrevocable L/C yang masih berjalan                                                                                       Outstanding irrevocable L/Cs
          Saldo Awal                               280.604                -                -                 -         280.604                  Beginning balance
          Pengukuran kembali bersih                                                                                                          Net remeasurement of
             nilai tercatat                        (75.440)               -                -                 -        (75.440)                   carrying amount
          Aset keuangan baru yang                                                                                                              New financial assets
             diterbitkan atau dibeli               683.151                -                -                 -         638.151           originated or purchased
          Aset keuangan yang                                                                                                                Derecognized financial
             dihentikan pengakuannya              (666.830)               -                -                 -       (666.830)                             assets

          Total penambahan/(penurunan)                                                                                                    Total additional/(reversal)
            tahun berjalan                         (59.119)               -                -                 -        (59.119)                    during the year

          Saldo akhir tahun                        221.484                -                -                 -         221.484         Balance at the end of year


      *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                      *) Not applying SFAS No. 71 ”Financial Instruments”


   Perubahan estimasi kerugian komitmen                             dan                   The movements in the estimated for impairment
   kontinjensi adalah sebagai berikut:                                                    losses on commitments and contingencies are as
                                                                                          follows:
                                                             31 Desember/         31 Desember/
                                                          December 31, 2023     December 31, 2022

       Rupiah                                                                                                                                            Rupiah
       Saldo awal tahun                                                4.719                     3.644                            Balance at beginning of year
       Penyisihan/(pemulihan)                                                                                                           Provision/(reversal) for
         kerugian penurunan nilai                                                                                                 impairment losses during
         selama tahun berjalan                                       (1.139)                     1.075                                              the year

       Saldo akhir                                                     3.580                     4.719                                      Balance at the end




                                                                          190
Page 587
                                                                                         The original financial statements included herein are in the
                                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                           unless otherwise stated)


27. ESTIMASI  KERUGIAN                    KOMITMEN                DAN             27. ESTIMATED LOSSES ON COMMITMENTS AND
    KONTINJENSI (lanjutan)                                                            CONTINGENCIES (continued)

   Perubahan cadangan kerugian komitmen dan                                               The movements in the allowance for impairment
   kontinjensi adalah sebagai berikut (lanjutan):                                        losses on commitments and contingencies are as
                                                                                         follows (continued):
                                                                31 Desember/December 31, 2023

                                            Stage 1            Stage 2         Stage 3          Syariah*)          Total

          Fasilitas kredit yang                                                                                                                       Unused loan
            belum ditarik (committed)                                                                                                      facility (committed)
          Saldo awal                              4.607                   -               -                 -           4.607                  Beginning balance
          Pengalihan ke:                                                                                                                               Transfer to:
            Stage 1                                     -                 -               -                 -                  -                         Stage 1
            Stage 2                                     -                 -               -                 -                  -                         Stage 2
            Stage 3                                     -                 -               -                 -                  -                         Stage 3

          Total saldo awal setelah                                                                                                          Total opening balance
            pengalihan                            4.607                   -               -                 -           4.607                      after transfer


          Pengukuran kembali bersih                                                                                                         Net remeasurement of
            penurunan nilai                        (992)                  -               -                 -              (992)              impairment losses
          Aset keuangan baru yang                                                                                                             New financial assets
            diterbitkan atau dibeli                   938                 -               -                 -               938         originated or purchased
          Aset keuangan yang                                                                                                               Derecognized financial
            dihentikan pengakuannya                (989)                  -               -                 -              (989)                           asset

          Total Penambahan/(penurunan)                                                                                                  Total Additional(reversal)/
            tahun berjalan                       (1.043)                  -               -                 -          (1.043)                  during the year

          Saldo akhir tahun                       3.564                   -               -                 -           3.564         Balance at the end of year


      *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                     *) Not applying SFAS No. 71 ”Financial Instruments”



                                                             31 Desember/December 31, 2022

                                            Stage 1            Stage 2         Stage 3          Syariah*)          Total

          Fasilitas kredit yang                                                                                                                       Unused loan
            belum ditarik (committed)                                                                                                      facility (committed)
          Saldo awal                              1.640              1.640                -                 -           3.280                  Beginning balance
          Pengalihan ke:                                                                                                                               Transfer to:
            Stage 1                               1.640             (1.640)               -                 -                  -                         Stage 1
            Stage 3                                   -                   -               -                 -                  -                         Stage 3

          Total saldo awal setelah                                                                                                          Total opening balance
            pengalihan                            3.280                   -               -                 -           3.280                      after transfer


          Pengukuran kembali bersih                                                                                                         Net remeasurement of
            penurunan nilai                       1.792                   -               -                 -           1.792                 impairment losses
          Aset keuangan baru yang                                                                                                             New financial assets
            diterbitkan atau dibeli                     -                 -               -                 -                  -        originated or purchased
          Aset keuangan yang                                                                                                               Derecognized financial
            dihentikan pengakuannya                (465)                  -               -                 -              (465)                           asset

          Total Penambahan/(penurunan)                                                                                                  Total Additional(reversal)/
            tahun berjalan                        1.327                   -               -                 -           1.327                   during the year

          Saldo akhir tahun                       4.607                   -               -                 -           4.607         Balance at the end of year


      *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                     *) Not applying SFAS No. 71 ”Financial Instruments”




                                                                         191
Page 588
                                                                                               The original financial statements included herein are in the
                                                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                     PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                             As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                       and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                          (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                 unless otherwise stated)


27. ESTIMASI  KERUGIAN                      KOMITMEN                    DAN             27. ESTIMATED LOSSES ON COMMITMENTS AND
    KONTINJENSI (lanjutan)                                                                  CONTINGENCIES (continued)
   Perubahan cadangan kerugian komitmen dan                                                    The movements in the allowance for impairment
   kontinjensi adalah sebagai berikut (lanjutan):                                              losses on commitments and contingencies are as
                                                                                               follows (continued):
                                                                   31 Desember/December 31, 2023

                                                  Stage 1            Stage 2         Stage 3          Syariah*)           Total

            Irrevocable L/C yang masih berjalan                                                                                           Outstanding irrevocable L/Cs
            Saldo Awal                                      112                -                -                 -                112                Beginning balance
            Pengukuran kembali bersih                                                                                                              Net remeasurement of
               nilai tercatat                         (7.355)                  -                -                 -           (7.355)                  carrying amount
            Aset keuangan baru yang                                                                                                                  New financial assets
               diterbitkan atau dibeli                 7.567                   -                -                 -            7.567           originated or purchased
            Aset keuangan yang                                                                                                                    Derecognized financial
               dihentikan pengakuannya                  (308)                  -                -                 -               (308)                          assets

            Total Penambahan/(penurunan)                                                                                                        Total additional/(reversal)
              period berjalan                               (96)               -                -                 -                (96)                 period the year

            Saldo akhir tahun                                16                -                -                 -                 16       Balance at the end of year


      *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                            *) Not applying SFAS No. 71 ”Financial Instruments”



                                                                      31 Desember/December 31, 2022

                                                  Stage 1            Stage 2         Stage 3          Syariah*)           Total

            Irrevocable L/C yang masih berjalan                                                                                           Outstanding irrevocable L/Cs
            Saldo Awal                                      364                -                -                 -                364                Beginning balance
            Pengukuran kembali bersih                                                                                                              Net remeasurement of
               nilai tercatat                               (83)               -                -                 -                (83)                carrying amount
            Aset keuangan baru yang                                                                                                                  New financial assets
               diterbitkan atau dibeli                 1.395                   -                -                 -            1.395           originated or purchased
            Aset keuangan yang                                                                                                                    Derecognized financial
               dihentikan pengakuannya                (1.564)                  -                -                 -           (1.564)                            assets

            Total Penambahan/(penurunan)                                                                                                        Total additional/(reversal)
              period berjalan                           (252)                  -                -                 -               (252)                 period the year

            Saldo akhir tahun                               112                -                -                 -                112       Balance at the end of year


      *) Tidak menerapkan PSAK No. 71 ”Instrumen Keuangan”                                            *) Not applying SFAS No. 71 ”Financial Instruments”


   Manajemen berpendapat bahwa penyisihan                                                       Based on management’s assessment, the amount
   estimasi kerugian komitmen dan kontinjensi yang                                              of estimated losses on commitments and
   dibentuk telah memadai.                                                                      contingencies is adequate.

28. LIABILITAS IMBALAN KERJA DAN LAIN-LAIN                                              28. EMPLOYEE BENEFITS AND OTHER LIABILITIES

                                                               31 Desember/            31 Desember/
                                                            December 31, 2023        December 31, 2022

    Liabilitas imbalan kerja                                                                                                         Employee benefits liabilities
    Bonus dan tantiem                                                   730.178                     855.623                                 Bonuses and tantiem
    Imbalan kerja jangka panjang                                                                                                    Long term employee benefits
       (Catatan 40b)                                                  1.279.342                 1.073.511                                         (Note 40b)

                                                                      2.009.520                 1.929.134

    Liabilitas lain-lain                                                                                                                             Other liabilities
    Dana jaminan pengembang                                                                                                         Developers’ security deposits
       (kewajiban pada pihak ketiga)                                    511.858                 4.680.949                             (liabilities to third party)
    Liabilitas sewa                                                     186.696                   167.633                                              Lease liability
    Lainnya                                                             243.774                   471.269                                                     Others

                                                                        942.328                 5.319.851

    Total                                                             2.951.848                 7.248.985                                                          Total




                                                                               192
Page 589
                                                                                 The original financial statements included herein are in the
                                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                     unless otherwise stated)


28. LIABILITAS IMBALAN KERJA DAN LAIN-LAIN                                 28. EMPLOYEE BENEFITS AND OTHER LIABILITIES
    (lanjutan)                                                                 (continued)

   Cadangan atas bonus merupakan kewajiban atas                                   Provision for bonus represents unpaid employees’
   jasa produksi karyawan pada tahun berjalan yang                                bonus for the current year which has not yet been
   belum dibagikan pada akhir tahun.                                              distributed at the end of the year.

   Dana jaminan pengembang merupakan setoran                                      Developer’s security deposits represent security
   jaminan dari pengembang untuk menjamin                                         deposit from developer to ensure that the developer
   penyelesaian kewajiban pengembang di Bank.                                     settle its obligation to the Bank.

   Bank telah mengidentifikasi dugaan pemalsuan                                   The Bank has identified an indication of forged
   bilyet deposito Bank dan dari hasil pemeriksaan                                transaction in the Bank’s certificate of time deposits
   Bank menunjukkan bahwa terdapat beberapa bilyet                                and based on the Bank’s investigation, there were
   deposito Bank yang diduga dipalsukan oleh pihak                                several Bank’s certificate of time deposits forged by
   lain di luar Bank sehingga tidak tercatat dalam                                third party, therefore it is not recorded in the Bank’s
   sistem Bank. Bank telah melaporkan kasus tersebut                              system. The Bank has reported this case to the
   kepada pihak berwajib dan saat ini sedang dalam                                authority and currently it is in the process of
   proses penyidikan sehingga jumlah pasti atas                                   investigation, therefore the definite amount of
   potensi kerugian dari kasus tersebut belum dapat                               pontential loss from this case is still cannot be
   ditentukan. Sebagai bentuk penerapan prinsip                                   determined yet. In view of implementation of
   kehati-hatian, Bank telah membentuk cadangan                                   prudential banking principle, the Bank has provided
   atas potensi kerugian operasional masing-masing                                allowance for potential operational losses as of
   per tanggal 31 Desember 2023 dan 2022 sebesar                                  December 31, 2023 and 2022 amounting to
   Rp32.971 dan Rp16.590.                                                         Rp32,971 and Rp16,590, respectively.

   Pengungkapan liabilitas sewa pada tanggal                                     Disclosure of lease liabilities on December 31,
   31 Desember 2023 dan 2022 adalah sebagai                                      2023 and 2022 is as follows:
   berikut:
                                                     31 Desember/December 31, 2023

                                                                   Beban bunga         Pembayaran
                                                  Penambahan       atas liabilitas        liabilitas
                                  1 Januari/    liabilitas sewa/       sewa/                sewa/          31 Desember/
                                 January 1,       Additions of    Interest expense Payment of              December 31,
                                   2023         lease liabilities of lease liabilities lease liabilities       2023

          Bangunan                    47.274              1.260               1.264           (18.046)           30.488               Building
          Kendaraan                  118.726             99.737               8.933           (62.426)          156.037         Motor vehicles
          Mesin ATM                    1.510                 39                  39            (1.501)               48         ATM machine
          Lainnya                        123                  -                   -                   -             123                Others

          Total                      167.633            101.036             10.236            (81.973)          186.696                 Total




                                                     31 Desember/December 31, 2022

                                                                   Beban bunga         Pembayaran
                                                  Penambahan       atas liabilitas        liabilitas
                                   1 Januari/   liabilitas sewa/       sewa/                sewa/          31 Desember/
                                  January 1,      Additions of    Interest expense Payment of               December 31,
                                     2022       lease liabilities of lease liabilities lease liabilities       2022

          Bangunan                     95.663             3.571               3.571           (51.960)           47.274               Building
          Kendaraan                    25.920           122.449               6.293           (29.643)          118.726         Motor vehicles
          Mesin ATM                     4.605               247                 246            (3.342)            1.510         ATM machine
          Lainnya                         160                 1                   1                (38)             123                Others

          Total                      126.348            126.268             10.111            (84.983)          167.633                 Total




                                                               193
Page 590
                                                                               The original financial statements included herein are in the
                                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                    unless otherwise stated)


29. EKUITAS                                                               29. EQUITY

   a.    Modal Saham                                                            a.   Capital Stock

         Rincian modal dasar, modal ditempatkan dan                                  The details of the Bank’s authorized capital
         disetor penuh Bank adalah sebagai berikut:                                  stock and issued and fully paid capital stock are
                                                                                     as follows:

                                                        31 Desember/December 31, 2023

                                                         Nilai nominal
                                                       per lembar saham
                                   Jumlah lembar       (Rupiah penuh)/     Jumlah nilai       Persentase
                                      saham/               Par value         saham/          kepemilikan/
                                     Number of             per share       Total value        Percentage
                                      shares             (Full Rupiah)      of shares         ownership
        Modal Dasar                                                                                                     Authorized Capital
         Saham Seri A Dwiwarna                    1          500                        -           0.00%        Series A Dwiwarna Stock
         Saham Biasa atas
           nama Seri B               20.478.431.999          500             10.239.216          100.00%          Series B Common Stock

                                     20.478.432.000                          10.239.216          100,00%

        Modal Ditempatkan dan
         Disetor Penuh                                                                                       Issued and Fully Paid Capital
         Saham Seri A Dwiwarna                                                                                  Series A Dwiwarna Stock
           Pemerintah                             1          500                        -           0.00%               Government
          Saham Seri B                                                                                                    Series B Stock
            Pemerintah                 8.420.666.647         500              4.210.333           60,00%                 Government
          Dewan Komisaris                                                                                        Board of Commissioners
             Herry Trisaputra Zuna          404.600          500                     202            0,00%       Herry Trisaputra Zuna
             Himawan Arief Sugoto           404.600          500                     202            0,00%       Himawan Arief Sugoto

          Dewan Direksi                                                                                                 Board of Directors
             Nixon L.P Napitupulu         4.250.500          500                  2.125             0,03%        Nixon L.P Napitupulu
             Oni Febriarto Rahardjo         308.000          500                    154             0,01%      Oni Febriarto Rahardjo
             Nofry Rony Poetra            2.531.022          500                  1.266             0,02%           Nofry Rony Poetra
             Elisabeth Novie Riswati      1.733.200          500                    867             0,01%      Elisabeth Novie Riswati
             Eko Waluyo                   1.871.964          500                    936             0,01%                  Eko Waluyo
             Setiyo Wibowo                1.892.700          500                    946             0,01%               Setiyo Wibowo
             Jasmin                       2.848.030          500                  1.424             0,02%                      Jasmin
             Andi Nirwoto                 1.822.161          500                    911             0,01%                 Andi Nirwoto
             Hirwandi Gafar               1.763.314          500                    882             0,01%               Hirwandi Gafar
            Masyarakat
             (kepemilikan masing
             -masing dibawah 5%                                                                                Public (ownership less
             untuk setiap pihak)       5.593.947.674         500              2.796.974           39,86%            than 5% each)
        Total                        14.034.444.413                           7.017.222          100,00%                                Total




                                                                   194
Page 591
                                                                               The original financial statements included herein are in the
                                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                    unless otherwise stated)


29. EKUITAS (lanjutan)                                                     29. EQUITY (continued)

   a.    Modal Saham (lanjutan)                                                 a.   Capital Stock (continued)

         Rincian modal dasar, modal ditempatkan dan                                  The details of the Bank’s authorized capital
         disetor penuh Bank adalah sebagai berikut                                   stock and issued and fully paid capital stock are
         (lanjutan):                                                                 as follows (continued):

                                                        31 Desember/December 31, 2022

                                                         Nilai nominal
                                                       per lembar saham
                                   Jumlah lembar       (Rupiah penuh)/     Jumlah nilai       Persentase
                                      saham/               Par value         saham/          kepemilikan/
                                     Number of             per share       Total value        Percentage
                                      shares             (Full Rupiah)      of shares         ownership
        Modal Dasar                                                                                                     Authorized Capital
         Saham Seri A Dwiwarna                    1          500                        -           0.00%        Series A Dwiwarna Stock
         Saham Biasa atas
           nama Seri B              20.478.431.999           500             10.239.216          100.00%          Series B Common Stock

                                    20.478.432.000                           10.239.216          100,00%

        Modal Ditempatkan dan
         Disetor Penuh                                                                                       Issued and Fully Paid Capital
         Saham Seri A Dwiwarna                                                                                  Series A Dwiwarna Stock
           Pemerintah                             1          500                        -           0.00%               Government
          Saham Seri B                                                                                                    Series B Stock
            Pemerintah                 6.353.999.999         500              3.177.000           60,00%                 Government
          Dewan Direksi                                                                                                 Board of Directors
             Haru Koesmahargyo              304.600          500                    152             0,00%         Haru Koesmahargyo
             Nixon L.P Napitupulu         2.481.800          500                  1.241             0,02%         Nixon L.P Napitupulu
             Hirwandi Gafar                 603.900          500                    302             0,01%               Hirwandi Gafar
             Elisabeth Novie Riswati        581.200          500                    291             0,01%      Elisabeth Novie Riswati
             Andi Nirwoto                   648.300          500                    324             0,01%                 Andi Nirwoto
             Eko Waluyo                     686.300          500                    343             0,01%                  Eko Waluyo
             Nofry Rony Poetra            1.034.600          500                    517             0,01%           Nofry Rony Poetra
             Jasmin                       1.422.400          500                    711             0,01%                      Jasmin
             Setiyo Wibowo                  547.900          500                    274             0,00%               Setiyo Wibowo
            Masyarakat
             (kepemilikan masing
             -masing dibawah 5%                                                                                Public (ownership less
             untuk setiap pihak)       4.227.689.000         500              2.113.845           39,92%            than 5% each)
        Total                       10.590.000.000                            5.295.000          100,00%                                Total



         Saham Seri A Dwiwarna adalah saham yang                                     Series A Dwiwarna share is the share that gives
         memberikan      hak-hak   preferen   kepada                                 the shareholder preferential rights to approve
         pemegangnya untuk menyetujui pengangkatan                                   the appointment or dismissal of Commissioners
         dan pemberhentian Dewan Komisaris dan                                       and Directors, changes in Articles of
         Direksi, perubahan anggaran dasar, menyetujui                               Association, approve on Bank’s merger,
         penggabungan, peleburan, pengambilalihan                                    dissolution,     acquisition and    separation,
         dan pemisahan Bank, pengajuan permohonan                                    submission of request for bankruptcy and
         agar Bank dinyatakan pailit dan pembubaran                                  liquidation of the Bank.
         Bank.

         Saham Seri B adalah saham biasa atas nama                                   Series B shares are common shares that can be
         yang dapat dimiliki oleh masyarakat.                                        owned by the public.




                                                                   195
Page 592
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


29. EKUITAS (lanjutan)                                           29. EQUITY (continued)

   a.   Modal Saham (lanjutan)                                       a.       Capital Stock (continued)

        Kepemilikan saham oleh Dewan Komisaris dan                            The shares ownership by board of
        Direksi adalah dalam rangka Peraturan Otoritas                        commissioners and board of directors follows
        Jasa Keuangan (POJK) No. 45/POJK.03/2015                              the Financial Services Authority Regulation
        tanggal 23 Desember 2015 tentang Penerapan                            (POJK) No. 45/POJK.03/2015 dated December
        Tata Kelola dalam Pemberian Remunerasi Bagi                           23, 2015 concerning Implementation of
        Bank Umum, dimana anggota Direksi dan                                 Governance in the Provision of Remuneration
        Dewan Komisaris Non-Independen diberikan                              for Commercial Banks, where members of the
        remunerasi yang bersifat variabel dalam bentuk                        Directors and Board of Commissioners are
        saham Perseroan.                                                      given variable remuneration in the form of the
                                                                              Company's shares.

        Saham yang dimiliki oleh Dewan Komisaris dan                          Shares held by the Board of Commissioners
        Direksi untuk tahun yang berakhir pada tanggal                        and Board of Directors for the years ended
        31 Desember 2023 dan 2022 masing-masing                               December 31, 2023 and 2022 amounted to
        sebesar 19.830.091 lembar saham dan                                   19,830,091 shares and 8,311,000 shares or
        8.311.000 lembar saham atau 0,11% dan                                 0.11% and 0.08% of the total authorized capital,
        0,08% dari jumlah modal dasar.                                        respectively.

   b.   Tambahan modal disetor                                       b.       Additional Paid In Capital

        Perubahan tambahan modal disetor adalah                               The movements in additional paid in capital are
        sebagai berikut:                                                      as follows:

        Saldo pada tanggal 1 Januari 2009                                 -                     Balance as January 1, 2009
        Tambahan Modal disetor akibat                                                          Additional Paid in capital due
         penawaran umum perdana tahun 2009                      708.017                    to Initial Public Offering in 2009

        Biaya emisi penerbitan saham                             (68.391)                             Shares Issuance Cost
                                                                639.626
        Tambahan Modal disetor akibat
         adanya pelaksanaan opsi                                                           Additional Paid in capital due to
         pembelian (eksekusi) saham                                                       purchased stock option during
         MESOP I tahap 1 dan 2 Tahun 2011                        94.733              phases 1 and 2 of MESOP I in 2011
                                                                734.359
        Tambahan Modal disetor akibat
         adanya pelakskanaan opsi                                                          Additional Paid in capital due to
         pembelian (eksekusi) saham                                                       purchased stock option during
         MESOP I tahap 3 dan 4 Tahun 2012                         5.219              phases 3 and 4 of MESOP I in 2012

        Tambahan Modal disetor akibat
         adanya pelaksanaan opsi                                                           Additional Paid in capital due to
         pembelian (eksekusi) saham                                                        purchased stock option during
         MESOP II tahap 1 dan 2 Tahun 2012                        1.130              phases 1 and 2 of MESOP II in 2012
                                                                740.708
        Tambahan Modal disetor akibat
         Penawaran Umum Saham                                                                Additional paid in capital due to
         Terbatas I pada tahun 2012                            1.111.949                              Right Issue I in 2012

        Biaya emisi penerbitan saham                             (59.154)                             Shares Issuance Cost
                                                               1.793.503




                                                         196
Page 593
                                                              The original financial statements included herein are in the
                                                                                                    Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                               As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                         and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                   unless otherwise stated)


29. EKUITAS (lanjutan)                                     29. EQUITY (continued)

   b.    Tambahan modal disetor (lanjutan)                     b.    Additional paid-in capital (continued)

         Perubahan tambahan modal disetor adalah                     The movements in additional paid in capital are
         sebagai berikut: (lanjutan)                                 as follows: (continued)
           Tambahan Modal disetor akibat
           adanya pelaksanaan opsi                                                 Additional Paid in capital due to
           pembelian (eksekusi) saham                                              purchased stock option during
           MESOP I tahap 5 dan 6 Tahun 2013                11.063             phases 5 and 6 of MESOP I in 2013

         Tambahan Modal disetor akibat
          adanya pelaksanaan opsi                                                 Additional Paid in capital due to
          pembelian (eksekusi) saham                                              purchased stock option during
          MESOP II tahap 3 dan 4 Tahun 2013               117.623            phases 3 and 4 of MESOP II in 2013

         Tambahan Modal disetor akibat
          adanya pelaksanaan opsi                                                 Additional Paid in capital due to
          pembelian (eksekusi) saham                                              purchased stock option during
          MESOP III tahap 1 dan 2 Tahun 2013              103.575           phases 1 and 2 of MESOP III in 2013
                                                         2.025.764
         Tambahan Modal disetor akibat
          adanya pelaksanaan opsi                                                  Additional Paid in capital due to
          pembelian (eksekusi) saham                                               purchased stock option during
          MESOP I tahap 7 dan 8 Tahun 2014                  1.840             phases 7 and 8 of MESOP I in 2014

         Tambahan Modal disetor akibat
          adanya pelaksanaan opsi                                                 Additional Paid in capital due to
          pembelian (eksekusi) saham                                              purchased stock option during
          MESOP II tahap 5 dan 6 Tahun 2014                   243            phases 5 and 6 of MESOP II in 2014

         Tambahan Modal disetor akibat
          adanya pelaksanaan opsi                                                 Additional Paid in capital due to
          pembelian (eksekusi) saham                                              purchased stock option during
          MESOP III tahap 3 dan 4 Tahun 2014                  289           phases 3 and 4 of MESOP III in 2014
                                                         2.028.136
         Tambahan Modal disetor akibat
          adanya pelaksanaan opsi                                                 Additional Paid in capital due to
          pembelian (eksekusi) saham                                              purchased stock option during
          MESOP II tahap 7 dan 8 serta                                         phases 7 and 8 of MESOP II and
          MESOP III tahap 5 dan 6 Tahun 2015               18.462           phases 5 and 6 of MESOP III in 2015
                                                         2.046.598
        Tambahan Modal disetor akibat
          adanya pelaksanaan opsi                                                   Additional Paid in capital due to
          pembelian (eksekusi) saham                                                purchased stock option during
          MESOP III tahap 7 Tahun 2016                      7.856                   phase 7 of MESOP III in 2016
                                                         2.054.454
         Tambahan Modal disetor akibat
          Penawaran Umum Saham                                                       Additional paid in capital due to
          Terbatas II pada tahun 2022/2023               2.411.111                       Right Issue II in 2022/2023


         Biaya Emisi Penerbitan Saham                     (46.665)                             Shares Issuance Cost

                                                         4.418.900




                                                   197
Page 594
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


29. EKUITAS (lanjutan)                                          29. EQUITY (continued)

   c.   Penggunaan Laba                                            c.   Profit Distribution

        Penggunaan Laba Tahun 2022                                      Profit Distribution for Year 2022

        Alokasi penggunaan laba untuk tahun yang                        Allocation of profit distribution for the year ended
        berakhir pada tanggal 31 Desember 2022                          December 31, 2022, are as follow:
        adalah sebagai berikut:                                         a. Dividends amounted to Rp609,015
        a. Dividen sebesar Rp609.015                                    b. Appropriated retained earnings amounted to
        b. Laba ditahan yang telah ditentukan                               Rp2,436,057
            penggunaannya Rp2.436.057

        Penggunaan Laba Tahun 2021                                      Profit Distribution for Year 2021
        Alokasi penggunaan laba untuk tahun yang                        Allocation of profit distribution for the year ended
        berakhir pada tanggal 31 Desember 2021                          December 31, 2021 are as follow:
        adalah sebagai berikut:                                         a. Dividends amounted to Rp237,624
        a. Dividen sebesar Rp237.624                                    b. Appropriated retained earnings amounted to
        b. Laba ditahan yang telah ditentukan                               Rp2,138,602
            penggunaannya Rp2.138.602

   d.   Dana Setoran Modal                                         d.    Capital deposit fund
        Berdasarkan Rapat Umum Pemegang Saham                           Based on extraordinary meeting of shareholder
        Luar Biasa Tanggal 18 Oktober 2022, Para                        dated October 18, 2022, the shareholder of the
        Pemegang Saham Bank Menyetujui Untuk                            Bank approved the additional capital through the
        Melakukan Penambahan Modal Melalui                              Limited Public Offering II (PUT II) with pre-
        Penawaran Umum Terbatas II (PUT II) Dengan                      emptive rights to the Bank’s shareholders at the
        Memberikan Hak Memesan Efek Terlebih                            most 4,600,000,000 (four billion six hundred
        Dahulu (PMHMETD) kepada para pemegang                           million) common registered shares with a
        saham Bank sejumlah 4.600.000.000 (empat                        nominal value of Rp500 (full amount) per share
        miliar enam ratus juta) lembar saham dengan                     with exercise price of Rp1,200 (full amount) per
        nominal sebesar Rp500 (nilai penuh) (lima ratus                 share.
        rupiah) per lembar saham dengan harga
        pelaksanaan Rp1.200 (nilai penuh) (seribu dua
        ratus rupiah) per lembar saham.

        Bank melakukan pembukuan Penambahan                             The bank has recorded additional capital with
        Modal Dengan Hak Memesan Efek Terlebih                          pre-emptive rights (PMHMETD) for Bank BTN in
        Dahulu (PMHMETD) Bank BTN Tahun 2022                            2022 with a capital deposit from government of
        dengan setoran modal dari pemerintah sebesar                    Rp2,480,000 and paid up capital for the public
        Rp2.480.000 dan setoran modal dari publik                       Rp276,575.
        sebesar Rp276.575.

        Berdasarkan kajian legal yang telah dilakukan                   Based on legal assessment that conducted by
        oleh Bank, dana penambahan modal melalui                        the bank, the additional capital through
        PMHMETD sudah dapat diakui sebagai modal                        PMHMETD can already be recognized as paid-
        disetor dikarenakan sudah terdapatnya akta                      up capital due to the deed of amendment to the
        perubahan anggaran dasar Bank pada tanggal                      Bank's articles of association on March 16, 2023.
        16 Maret 2023.




                                                          198
Page 595
                                                               The original financial statements included herein are in the
                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                    unless otherwise stated)


30. PENDAPATAN BUNGA DAN BAGI HASIL                          30. INTEREST INCOME AND INCOME FROM PROFIT
                                                                 SHARING
   a.   Pendapatan Bunga                                        a.   Interest Income
        Akun ini terdiri dari:                                        This account consists of:
                                                Tahun yang berakhir pada
                                                  Tanggal 31 Desember/
                                             For the year Ended December 31
                                                 2023                2022


        Biaya perolehan diamortisasi                                                                    Amortized cost
          Kredit yang diberikan                 22.387.831           20.955.847                               Loans
                                                                                              Current accounts with
          Giro pada Bank Indonesia                 480.068             217.757                     Bank Indonesia
          Penempatan pada Bank                                                       Placements with Bank Indonesia
           Indonesia dan bank lain                 133.613              71.670                     and other banks
                                                                                              Current accounts with
          Giro pada bank lain                        2.568                1.311                        other banks
          Tagihan lainnya                            8.210                5.805                    Others receivable
          Efek dibeli dengan janji                                                       Securities purchased under
            dijual kembali                          57.873              86.602                 agreement to resell
          Obligasi pemerintah                      620.967             453.703                    Government bonds
          Efek-efek                                 46.996              56.439                             Securities
        Nilai wajar melalui                                                                         Fair value through
          laba rugi                                                                                   profit or loss
          Obligasi pemerintah                      176.455             236.476                    Government bonds
          Efek-efek                                 80.180              82.222                            Securities
          Derivatif                                 81.505              55.005                            Derivative
        Nilai wajar melalui penghasilan                                                        Fair value through other
          komprehensif lain                                                                     comprehensive income
          Obligasi pemerintah                      423.226             828.759                    Government bonds
          Efek-efek                                223.037             181.604                              Securities

        Total                                   24.722.529           23.233.200                                     Total



   b.   Bagi hasil dan marjin unit syariah                      b.   Profit sharing and margin from sharia unit

        Akun ini terdiri dari:                                        This account consists of:

                                                Tahun yang berakhir pada
                                                  Tanggal 31 Desember/
                                             For the year Ended December 31
                                                 2023                2022

        Pendapatan murabahah                     2.242.259            1.657.741               Income from murabahah
        Pendapatan bagi hasil musyarakah           339.310              322.992       Musyarakah profit sharing income
        Pendapatan istishna                        339.895              278.899                   Income from istishna
        Pendapatan bagi hasil mudharabah            11.906               25.771       Mudharabah profit sharing income
        Pendapatan usaha utama lainnya             625.353              388.765           Other main operating income
        Total                                    3.558.723            2.674.168                                     Total




                                                    199
Page 596
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


31. BEBAN BUNGA, BAGI HASIL DAN BONUS                           31. INTEREST, PROFIT SHARING AND BONUS
                                                                    EXPENSES
   a.   Beban Bunga                                                a.   Interest Expense
        Akun ini terdiri dari:                                           This account consists of:
                                                   Tahun yang berakhir pada
                                                     Tanggal 31 Desember/
                                                For the year Ended December 31
                                                    2023                2022
        Deposito berjangka                          7.292.773            5.204.910                            Time deposits
        Giro                                        2.676.389            1.343.080                        Demand deposits
        Pinjaman yang diterima                      1.240.294            1.133.603                         Fund borrowings
        Pinjaman subordinasi                                                                             Subordinated loan
          dan efek-efek subordinasi                   593.559             596.092                         and securities
        Surat-surat berharga yang diterbitkan         559.845             880.152                          Securities issued
        Tabungan                                      527.326             563.151                          Savings deposits
        Kewajiban derivatif                           140.185             102.692                       Derivative liabilities
        Simpanan dari bank lain                        97.192              36.387                 Deposits from other banks
        Efek yang dijual dengan janji                                                                  Securities sold under
          dibeli kembali                               75.545                  6.852                repurchase agreements
        Total                                      13.203.108            9.866.919                                      Total


   b.   Bonus Simpanan Wadiah dan Hak Pihak Ketiga                 b.   Wadiah Deposit Bonus and Third Parties’ Share
        atas Bagi hasil Mudharabah                                      on Return of Mudharabah

        Bonus simpanan wadiah:                                           Wadiah deposit bonus:
                                                   Tahun yang berakhir pada
                                                     Tanggal 31 Desember/
                                                For the year Ended December 31
                                                    2023                2022

        Beban bonus simpanan wadiah:                                                             Wadiah bonus expenses:
         Giro wadiah                                   66.217              52.233               Wadiah demand deposit
         Tabungan wadiah                                5.404               5.325                Wadiah saving deposit

                                                       71.621              57.558


        Hak bagi hasil mudharabah:                                       Mudharabah share on return:

                                                   Tahun yang berakhir pada
                                                     Tanggal 31 Desember/
                                                For the year Ended December 31
                                                    2023                2022

        Hak Pihak Ketiga atas Bagi                                                          Third Parties’ Share on Return
         hasil Mudharabah:                                                                              of Mudharabah:
         Deposito mudharabah                        1.052.226             601.033             Mudharabah time deposit
         Tabungan mudharabah                          201.556             141.241           Mudharabah saving deposit
         Pinjaman mudharabah                          108.623              65.839               Mudharabah borrowing
         Giro mudharabah                               10.299               7.690          Mudharabah demand deposit
         Sukuk mudharabah                                 212                   -                  Mudharabah sukuk

          Total                                     1.372.916             815.803                                   Total




                                                       200
Page 597
                                                                 The original financial statements included herein are in the
                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


32. PENDAPATAN          OPERASIONAL    LAINNYA       -         32. OTHER OPERATING INCOME - OTHERS
    LAIN-LAIN

   Akun ini terdiri dari:                                         This account consists of:

                                            Tahun yang berakhir pada
                                              Tanggal 31 Desember/
                                         For the year Ended December 31

                                              2023               2022

  Jasa perbankan                                216.776             188.557                                   Bank services
  Servicing Fee Sekuritisasi Aset                95.158              87.369            Securitization Assets Servicing Fee
  Jasa penagihan - payment points                14.993              16.955            Collection services - payment points
  Lainnya                                       983.820             529.894                                         Others

  Total                                       1.310.747             822.775                                           Total


   Jasa perbankan terdiri dari pendapatan dari                    Bank services pertains to income from fund transfer
   transaksi transfer dana, pendapatan sewa safe                  transactions, safety deposit box rentals and ATM
   deposit box dan pendapatan administrasi layanan                service charges.
   ATM.

   Lainnya terutama terdiri dari provisi atas garansi             Others consist mainly of provision from bank
   bank yang diterbitkan, komisi yang diterima dari               guarantee issued, commission received from
   perusahaan asuransi atas produk asuransi yang                  insurance companies for insurance products sold by
   terjual melalui Bank, pembalikan atas cadangan                 the Bank to its borrowers, reversal of tax, law and
   pajak, hukum dan operasional dan pembalikan atas               operational provision and reversal of developer’s
   cadangan dana jaminan developer.                               security deposits reserves.

33. PENYISIHAN   (PEMBALIKAN) KERUGIAN                         33. PROVISION FOR (REVERSAL OF) IMPAIRMENT
    PENURUNAN NILAI ASET KEUANGAN DAN                              LOSSES ON FINANCIAL AND NON-FINANCIAL
    NON- ASET KEUANGAN                                             ASSETS

   Akun ini terdiri dari:                                         This account consists of:

                                            Tahun yang berakhir pada
                                              Tanggal 31 Desember/
                                         For the year Ended December 31

                                              2023               2022

  Kredit yang diberikan dan
    pembiayaan/piutang syariah                                                                Loans and sharia financing/
    (Catatan 11)                              3.711.122           4.039.507                       receivables (Note 11)
  Efek-efek (Catatan 8)                          30.502             (19.259)                           Securities (Note 8)
                                                                                                    Current accounts with
  Giro pada bank lain (Catatan 6)                     57                  49                       other banks (Note 6)
  Tagihan Akseptasi (Catatan 13)                 23.740                (487)           Acceptance Receivable (Note 13)
  Properti Terbengkalai                             (24)             (2.432)                       Abandoned Property

  Total                                       3.765.397           4.017.378                                           Total




                                                         201
Page 598
                                                              The original financial statements included herein are in the
                                                                                                    Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                               As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                         and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                   unless otherwise stated)


34. BEBAN UMUM DAN ADMINISTRASI                             34. GENERAL AND ADMINISTRATIVE EXPENSES

   Akun ini terdiri dari:                                      This account consists of:

                                            Tahun yang berakhir pada
                                              Tanggal 31 Desember/
                                         For the year Ended December 31

                                             2023             2022

   Perbaikan dan pemeliharaan                 1.108.838         1.136.954                        Repairs and maintenance
   Promosi                                      537.253           469.580                                        Promotion
   Penyusutan (Catatan 14)                      489.874           426.546                           Depreciation (Note 14)
   Sewa bukan PSAK No. 73                       357.523           388.480                Lease expense non SFAS No. 73
   Listrik, air dan komunikasi                  258.934           296.549       Electricity, water and telecommunications
   Beban kantor                                 232.271           229.233                              Office expenses
   Jasa profesional                             229.724           236.277                                 Professional fees
   Beban depresiasi aset hak guna                                               Depreciation expense of right of use asset
        (Catatan 14)                           226.851            202.514                                     (Note 14)
   Transportasi                                171.228            135.604                                    Transportation
   Outsourcing                                  45.173             54.833                                      Outsourcing
   Lainnya                                     227.110            177.458                                           Others

   Total                                      3.884.779         3.754.028                                            Total



   Lainnya terutama terdiri dari beban administrasi            Others consist mainly of branchless banking
   branchless banking, biaya operasional program               administration expense, government program
   pemerintah, premi asuransi untuk gedung, premi              operational expense, insurance premium on the
   asuransi kas dalam perjalanan serta kas dalam               building, insurance premium on in transit and cash
   khazanah dan beban operasional protokoler.                  in vault and protocoler operational expenses.

35. GAJI DAN TUNJANGAN KARYAWAN                             35. SALARIES AND EMPLOYEE BENEFITS

   Akun ini terdiri dari:                                      This account consists of:

                                            Tahun yang berakhir pada
                                              Tanggal 31 Desember/
                                         For the year Ended December 31
                                             2023             2022

   Gaji dan upah                                                                                     Salaries and wages
     Rutin                                   2.353.451          2.122.173                                    Recurring
     Tidak rutin                             1.495.120          1.954.049                               Non-recurring
   Pelatihan dan pengembangan                   95.931             87.757                     Training and development
   Lainnya                                      38.001             26.319                                         Others
   Total                                     3.982.503          4.190.298                                            Total


   Lainnya terdiri dari beban imbalan kerja, biaya             Others consists mainly of employee benefits
   perekrutan, pesangon dan tunjangan rekreasi                 expense, recruitment costs, severance costs and
   karyawan.                                                   employee recreational costs.




                                                      202
Page 599
                                                                 The original financial statements included herein are in the
                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


36. BEBAN OPERASIONAL LAINNYA - LAIN-LAIN                      36. OTHER OPERATING EXPENSES - OTHERS

   Akun ini terdiri dari:                                         This account consists of:

                                             Tahun yang berakhir pada
                                               Tanggal 31 Desember/
                                          For the year Ended December 31

                                               2023              2022
   Imbalan atas jasa penagihan                    63.279                71.635                  Fees for collection services
   Kerugian atas penyelesaian kredit
    bermasalah                                    40.987             51.106                    Loss on bad debt settlement
   Lainnya                                       383.348            206.567                                         Others

   Total                                         487.614            329.308                                           Total



   Lainnya terutama terdiri dari beban representasi,              Others     consist    mainly     of   representation,
   jamuan makan dan minum rapat dan beban terkait                 entertainment expense and expense related to the
   dengan cadangan atas risiko operasional lainnya.               provision for other operational risk.


37. PENDAPATAN (BEBAN) BUKAN OPERASIONAL                       37. NON-OPERATING INCOME (EXPENSES) - NET
    - NETO

   Akun ini terdiri dari:                                         This account consists of:

                                             Tahun yang berakhir pada
                                               Tanggal 31 Desember/
                                          For the year Ended December 31
                                              2023               2022

   Pendapatan sewa gedung                             140                  200           Building rental income equipment
   Pendapatan (beban) lainnya - neto            (159.659)               60.687               Other income (expense) - net
   Total                                        (159.519)               60.887                                        Total


   Lainnya terutama terdiri dari keuntungan/(kerugian)            Others mainly consist of gains/(losses) on exchange
   revaluasi kurs, beban denda administrasi,                      rate revaluation, administrative penalty expenses,
   keuntungan/(kerugian) jual beli mata uang asing dan            gains/(losses) on buying and selling foreign
   beban bina lingkungan.                                         currencies and environmental development
                                                                  expenses.




                                                         203
Page 600
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


38. PERPAJAKAN                                                   38. TAXATION
   a.   Rekonsiliasi antara laba sebelum beban pajak                a.     The reconciliation between income before tax
        menurut laporan laba rugi dan penghasilan                          expense, as shown in the statement of profit or
        komprehensif lain dengan taksiran penghasilan                      loss and other comprehensive income are as
        kena pajak, adalah sebagai berikut:                                follows:
                                               Tahun yang berakhir pada
                                                 Tanggal 31 Desember/
                                            For the year Ended December 31

                                                2023               2022

        Laba sebelum                                                                                           Income before
          beban pajak                            4.380.210          3.875.690                                  tax expense

        Beda temporer:                                                                                 Temporary differences:
          Penyisihan untuk imbalan                                                                   Provision for employee
            kerja                                      19.804            274.687                                    benefits
          Penurunan (kenaikan) nilai                                                                    Decrease (increase)
            efek-efek yang dimiliki                                                                         in fair value of
            untuk diperdagangkan                       59.053       (206.021)                            trading securities
          Penyusutan aset hak guna                      5.637         (3.753)            Depreciation of Right of Use Asset
          Pembentukan                                                                                            Provision for
            cadangan kerugian                                                                   allowance for impairment
            penurunan nilai aset keuangan                                                      losses on financial assets
            dan non-aset keuangan dan lainnya    (153.722)               928.143    and non-financial assets and others
          Selisih nilai wajar efek-efek            803.279                     -    Difference in the fair value of securities

                                                   734.051               993.056

        Beda tetap:                                                                                   Permanent differences:
          Dana sosial dan representasi                 10.231            113.258         Social funds and representation
          Beban kantor                                 72.557             84.703                          Office expense
          Kenikmatan karyawan                          65.214            136.692                       Employee welfare
          Sumbangan                                    79.996             62.204                               Donations
          Sewa                                         10.997             14.401                                    Rent
          Perbaikan dan pemeliharaan                    4.993              6.061               Repairs and maintenance
          Penyusutan atas aset tetap                                                            Depreciation of premises
            yang tidak dapat                                                                and equipment which are
            disusutkan menurut pajak                    2.407              3.031     non-depreciable for tax purposes
          Pendapatan sewa tarif final                   (128)              (200)         Rent income subject to final tax
          Perubahan nilai EBA yang tidak                                            Changes in EBA fair value which are
             dapat diakui secara pajak                    (28)            60.514    non-recognizable for tax purposes
          Lain-lain                                     1.036             15.316                                  Others

                                                   247.275               495.980

        Taksiran penghasilan kena                                                                          Estimated taxable
         pajak                                   5.361.536          5.364.726                                        income

        Beban pajak penghasilan                  1.018.692          1.019.298                            Income tax expense
        Pajak penghasilan                                                                                       Income tax -
          Pasal 25                               (673.178)          (671.524)                                  Article 25

        Hutang pajak penghasilan                                                             Corporate income tax payable
          badan (Catatan 17)                       345.514               347.774                             (Note 17)




                                                           204
Page 601
                                                                                                The original financial statements included herein are in the
                                                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                     unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                                                     38. TAXATION (continued)
   a.   Rekonsiliasi antara laba sebelum beban pajak                                             a.    The reconciliation between income before tax
        menurut laporan laba rugi dan penghasilan                                                      expense, as shown in the statement of profit or
        komprehensif lain dengan taksiran penghasilan                                                  loss and other comprehensive income are as
        kena pajak, adalah sebagai berikut: (lanjutan)                                                 follows: (continued)
        Berdasarkan Undang-undang Perpajakan yang                                                      Under the prevailing Taxation Laws of
        berlaku di Indonesia, Bank menghitung,                                                         Indonesia, the Bank calculates, determines and
        menetapkan dan membayar sendiri besarnya                                                       pays tax payable based on self-assessment.
        jumlah pajak yang terutang. Direktur Jendral                                                   The Directorate General of Taxes (“DGT”) may
        Pajak (“DJP”) dapat menetapkan atau                                                            assess or amend taxes within 5 (five) years from
        mengubah liabilitas pajak dalam batas waktu 5                                                  the time the tax becomes due. The taxable profit
        (lima) tahun sejak saat terutangnya pajak. Laba                                                resulting from the reconciliation in 2023 and
        kena pajak hasil rekonsiliasi tahun 2023 dan                                                   2022 is the basis for filling out the Annual
        2022 menjadi dasar dalam pengisian SPT                                                         Corporate Income Tax Return which is
        Tahunan PPh Badan yang disampaikan                                                             submitted to the tax authorities in accordance
        kepada otoritas perpajakan sesuai dengan                                                       with applicable regulations.
        peraturan yang berlaku.
   b.   Beban/(manfaat) pajak                                                                    b.    Tax Expense/(benefit)
                                                                 Tahun yang berakhir pada
                                                                  Tanggal 31 Desember/
                                                             For the year Ended December 31

                                                                     2023                       2022

        Beban pajak - kini                                           1.018.692                    1.019.298                              Current tax expense
        Beban/(manfaat) pajak - tangguhan                            (139.470)                    (188.681)                    Deferred tax expense/(benefit)

        Total                                                          879.222                        830.617                                                   Total

   c.   Aset (Liabilitas) Pajak Tangguhan                                                        c.    Deferred tax assets (liabilities)
        Pengaruh pajak atas perbedaan temporer yang                                                    The tax effects on significant outstanding
        signifikan antara pelaporan keuangan dan                                                       temporary differences between financial and tax
        pajak adalah sebagai berikut:                                                                  reporting purposes are as follows:
                                                                   31 Desember/December 31, 2023

                                                                        Dikreditkan/
                                                                     (dibebankan) ke
                                                                    laporan laba rugi/
                                                                    Credited/(charged)           Dibebankan
                                                                      to statement of            ke ekuitas/
                                                 Saldo awal/         profit or loss and          Charged to          Saldo Akhir/
                                              Beginning balance        other income                 equity          Ending Balance

        Cadangan kerugian penurunan                                                                                                          Allowance for impairment
            nilai kredit yang diberikan                2.358.305                 (29.693)                       -          2.328.612                    losses loans
        Cadangan kerugian penurunan                                                                                                          Allowance for impairment
            nilai aset keuangan - selain                                                                                                 losses on financial assets -
            kredit yang diberikan                        11.580                   9.723                         -            21.303                    other than loans
        Cadangan kerugian penurunan                                                                                                          Allowance for impairment
            nilai aset non keuangan                         383                           -                     -               383 losses on non non-financial assets
        Cadangan hukum, kecurangan                                                                                                                 Allowance for legal,
            (fraud) dan lainnya                          33.591                   (9.237)                     -              24.354                 fraud and others
        Cadangan imbalan kerja                          203.967                     3.763                35.345             243.075 Allowance for employee benefits
        Penyusutan aset hak guna                         19.702                     1.071                     -              20.773 Depreciation of right of use asset
        (Laba) rugi yang belum
            direalisasi atas efek                                                                                                                Unrealized (gain) loss
            yang diukur pada nilai                                                                                                              on fair value through
            wajar melalui laba rugi                     (10.460)                  11.220                        -               760                      profit or loss
        Rugi yang belum direalisasi                                                                                                                      Unrealized loss
            atas lindung nilai arus kas                  11.565                           -              (3.977)              7.588             on cash flow hedges
        (Laba) rugi yang belum
            direalisasi atas efek yang                                                                                                          Unrealized (gain) loss
            diukur pada nilai wajar melalui                                                                                                    on fair value through
            penghasilan komprehensif                    292.088                           -             (93.277)            198.811    other comprehensive income
                                                                                                                                              Differences in fair value
         Selisih nilai wajar efek-efek                         -                 152.623                      -             152.623                     of securities
         Lainnya                                         (5.293)                       -                  5.293                   -                              Others

        Aset pajak tangguhan - neto                    2.915.428                139.470                 (56.616)           2.998.282         Deferred tax assets - net




                                                                              205
Page 602
                                                                                                   The original financial statements included herein are in the
                                                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                        unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                                                        38. TAXATION (continued)

   c.   Aset (Liabilitas) Pajak Tangguhan (lanjutan)                                                c.    Deferred tax assets (liabilities) (continued)

        Pengaruh pajak atas perbedaan temporer yang                                                       The tax effects on significant outstanding
        signifikan antara pelaporan keuangan dan                                                          temporary differences between financial and tax
        pajak adalah sebagai berikut (lanjutan):                                                          reporting purposes are as follows (continued):
                                                                      31 Desember/December 31, 2022

                                                                            Dikreditkan/
                                                                         (dibebankan) ke
                                                                        laporan laba rugi/
                                                                        Credited/(charged)          Dibebankan
                                                                          to statement of           ke ekuitas/
                                                 Saldo awal/            profit or loss and          Charged to         Saldo Akhir/
                                              Beginning balance            other income                equity         Ending Balance

        Cadangan kerugian penurunan                                                                                                            Allowance for impairment
            nilai kredit yang diberikan                2.116.831                    241.474                       -          2.358.305                    losses loans
        Cadangan kerugian penurunan                                                                                                            Allowance for impairment
            nilai aset keuangan - selain                                                                                                   losses on financial assets -
            kredit yang diberikan                        15.120                       (3.540)                     -            11.580                 other than loans
        Cadangan kerugian penurunan                                                                                                            Allowance for impairment
            nilai aset non keuangan                         845                        (462)                      -               383 losses on non non-financial assets
        Cadangan hukum, kecurangan                                                                                                                   Allowance for legal,
            (fraud) dan lainnya                          94.716                     (61.125)                     -             33.591                 fraud and others
        Cadangan imbalan kerja                          163.152                       52.191               (11.376)           203.967 Allowance for employee benefits
        Penyusutan aset hak guna                         20.415                        (713)                     -             19.702 Depreciation of right of use asset
        (Laba) rugi yang belum
            direalisasi atas efek                                                                                                                  Unrealized (gain) loss
            yang diukur pada nilai                                                                                                                on fair value through
            wajar melalui laba rugi                      28.684                     (39.144)                      -           (10.460)                     profit or loss
        Rugi yang belum direalisasi                                                                                                                        Unrealized loss
            atas lindung nilai arus kas                           -                          -              11.565             11.565             on cash flow hedges
        (Laba) rugi yang belum
            direalisasi atas efek yang                                                                                                             Unrealized (gain) loss
            diukur pada nilai wajar melalui                                                                                                       on fair value through
            penghasilan komprehensif                     (9.103)                             -             295.898            286.795     other comprehensive income

        Aset pajak tangguhan - neto                    2.430.660                   188.681                 296.087           2.915.428         Deferred tax assets - net



   d.    Rekonsiliasi antara beban pajak penghasilan                                                d.    The reconciliation between the tax expense
         dengan menggunakan tarif pajak yang berlaku                                                      computed by applying the applicable tax rate on
         dari laba sebelum beban pajak dan beban                                                          the income before tax expense and the tax
         pajak penghasilan seperti yang disajikan                                                         expense shown in the statement of profit or loss
         dalam laporan laba rugi dan penghasilan                                                          and other comprehensive income for the period
         komprehensif lain untuk periode yang berakhir                                                    ended December 31, 2023 and 2022, are as
         pada tanggal-tanggal 31 Desember 2023 dan                                                        follows:
         2022 adalah sebagai berikut:
                                                                 Tahun yang berakhir pada
                                                                  Tanggal 31 Desember/
                                                             For the year Ended December 31

                                                                          2023                     2022

         Laba sebelum beban pajak                                       4.380.210                    3.875.690                         Income before tax expense

         Beban pajak dengan                                                                                                                       Tax expense at
           tarif pajak yang berlaku                                      (832.240)                    (736.381)                          the applicable tax rate
         Beda tetap                                                        (46.982)                    (94.236)                            Permanent differences

         Beban pajak                                                     (879.222)                    (830.617)                                        Tax expense




                                                                                  206
Page 603
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                        38. TAXATION (continued)

   e.   Penurunan Tarif Pajak Penghasilan Badan                     e.   Reduction of the Tax Rate of Corporate Income
                                                                         Tax

        Pada tanggal 31 Maret 2020, Pemerintah                           On 31 March 2020, the Government issue
        menerbitkan Peraturan Pemerintah Pengganti                       Government Regulation in Lieu of Law (Perpu)
        Undang-Undang (Perpu) Republik Indonesia                         of the Republic of Indonesia No. 1 of 2020 which
        No. 1 Tahun 2020 yang telah menjadi Undang-                      has become Law (UU) No. 2 of 2020, as well as
        Undang (UU) No. 2 Tahun 2020, serta                              stipulated Government Regulation (PP) No. 30
        menetapkan Peraturan Pemerintah (PP) No.                         of 2020 concerning Tariff Reduction for
        30 Tahun 2020 tentang Penurunan Tarif Pajak                      Domestic Public Companies Taxpayers and
        Penghasilan bagi Wajib Pajak Badan Dalam                         effective since 19 June 2020. The regulation
        Negeri yang Berbentuk Perseroan Terbuka                          has stipulated the reduction in the income tax
        dan berlaku sejak tanggal 19 Juni 2020.                          rates for domestic corporate taxpayers and
        Aturan tersebut menetapkan penurunan tarif                       business establishments from 25% to 22% for
        pajak penghasilan wajib pajak badan dalam                        Fiscal Year 2021 and 2022 and 20% for the
        negeri dan bentuk usaha tetap dari semula                        Fiscal Year 2022 onwards, and a further
        25% menjadi 22% untuk tahun pajak 2021 dan                       reduction of the tax rate by 3% for domestic
        2022 dan 20% mulai tahun pajak 2022 dan                          taxpayers who meet certain requirements.
        seterusnya, serta pengurangan lebih lanjut
        tarif pajak sebesar 3% untuk wajib pajak
        dalam negeri yang memenuhi persyaratan
        tertentu.
        Berdasarkan Undang-Undang No. 7 tahun                            Based Law No. 7 of 2021 regarding
        2021      tentang   Harmonisasi       Peraturan                  Harmonisation of the Tax Regulation witch
        Perpajakan yang berlaku 1 Januari 2022 maka                      applies on January 1, 2022 therefore the tax
        tarif pajak kembali ke tarif pajak tunggal yaitu                 rate is a single rate of 22%.
        22%.
        Berdasarkan surat keterangan No. DE/I/2024-                      Based on Letter No. DE/I/2024-0035 dated
        0035 tanggal 3 Januari 2024 dan laporan                          January 3, 2024 and the monthly report of
        bulanan kepemilikan saham dari Biro                              shares ownerships form the Securities
        Administrasi Efek, Datindo Entrycom atas                         Administration Agency (Biro Administrasi Efek),
        kepemilikan saham Bank selama periode 2023                       Datindo Entrycom on the ownership of Bank’s
        yang berakhir pada tanggal 31 Desember 2023                      shares during the period ended December 31,
        semua kriteria di atas untuk memperoleh                          2023, all of the above mentioned required
        fasilitas penurunan tarif pajak tersebut atas                    criteria to obtain the tax rate reduction on
        laporan keuangan Bank untuk tahun yang                           Bank’s financial statements for the year then
        berakhir pada tanggal 31 Desember 2023 telah                     ended December 31, 2023 were fulfilled by the
        terpenuhi.                                                       Bank.

        Berdasarkan surat keterangan No. DE/I/2023-                      Based on Letter No. DE/I/2023-0038 dated
        0038 tanggal 3 Januari 2023 dan laporan                          January 3, 2023 and the monthly report of
        bulanan kepemilikan saham (Formulir No.                          shares ownerships (form No. X.H.I-2 dated
        X.H.I-2 tanggal 3 Januari 2023 dari Biro                         January 3, 2023 from the Securities
        Administrasi Efek, Datindo Entrycom atas                         Administration Agency (Biro Administrasi Efek),
        kepemilikan saham Bank selama periode 2022                       Datindo Entrycom on the ownership of Bank’s
        yang berakhir pada tanggal 31 Desember 2022)                     shares     during      the     period      ended
        semua kriteria di atas untuk memperoleh                          December 31, 2022), all of the above
        fasilitas penurunan tarif pajak tersebut atas                    mentioned required criteria to obtain the tax rate
        laporan keuangan Bank untuk tahun yang                           reduction on Bank’s financial statements for the
        berakhir pada tanggal 31 Desember 2022 telah                     year ended December 31, 2022 were fulfilled by
        terpenuhi.                                                       the Bank.

        Pajak penghasilan badan Bank untuk tahun                         Bank's corporate income tax for the year ended
        yang berakhir pada tanggal-tanggal 31                            December 31, 2023 and 2022 are calculated
        Desember 2023 dan 2022 telah dihitung                            using the tax rate of 19%.
        dengan menggunakan tarif pajak 19%.



                                                           207
Page 604
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                        38. TAXATION (continued)
   e.   Penurunan Tarif Pajak Penghasilan Badan                       e.   Reduction of the Tax Rate of Corporate Income
        (lanjutan)                                                         Tax (continued)
        Pemeriksaan tahun pajak 2012                                       Assessment for fiscal year 2012
        Pada tanggal 30 September 2014, Bank telah                         On September 30, 2014, the Bank received
        menerima     Surat   Pemberitahuan      Hasil                      Notification of Tax Audit Findings (SPHP)
        Pemeriksaan Pajak (SPHP) No. PHP-                                  No. PHP-201/WPJ.02/KP.10/2014 regarding
        201/WPJ.02/KP.10/2014             mengenai                         tax underpayment for Income Tax Article 4 (2)
        kekurangan pembayaran pajak PPh Pasal 4                            on the Pekanbaru branch office for fiscal year
        ayat (2) untuk tahun pajak 2012 atas Kantor                        2012. Based on Notification of Tax Audit
        Cabang Pekanbaru. Atas SPHP tersebut, pada                         Findings, the Bank has received issued Tax
        tanggal 10 November 2014, Bank telah                               Assessment Letter of Tax Underpayment
        menerima Surat Ketetapan Pajak Kurang Bayar                        (SKPKB) on November 10, 2014 as follows:
        (SKPKB) dengan rincian sebagai berikut:
                                              Pokok/               Denda/
                                          Principal (Rp)         Penalty (Rp)
        Tahun 2012                                                                                                   Year 2012
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00095/240/12/218/14                      191                       92                    No.00095/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00096/240/12/218/14                      191                       92                    No.00096/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00097/240/12/218/14                      190                       91                    No.00097/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00098/240/12/218/14                      168                       81                    No.00098/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00099/240/12/218/14                      214                      103                    No.00099/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00100/240/12/218/14                      196                       94                    No.00100/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00101/240/12/218/14                      207                       99                    No.00101/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00102/240/12/218/14                      245                      118                    No.00102/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00103/240/12/218/14                      238                      114                    No.00103/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00104/240/12/218/14                      229                      110                    No.00104/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00105/240/12/218/14                      250                      120                    No.00105/240/12/218/14
        SKPKB PPh Pasal 4 ayat 2                                                                             SKPKB Article 4 (2)
           No.00106/240/12/218/14                      305                      146                    No.00106/240/12/218/14
        Total                                        2.624                 1.260                                          Total


        Pada tanggal 8 Desember 2014, Bank telah                           On December 8, 2014, the Bank has paid the
        melakukan pembayaran atas seluruh tagihan                          entire amount in the Tax Assessment Letter of
        dalam Surat Ketetapan Pajak Kurang Bayar                           Tax Underpayment (SKPKB) amounting to
        (SKPKB) tersebut yaitu sebesar Rp3.884.                            Rp3,884. The payment is recorded as other
        Pembayaran tersebut dicatat oleh Bank pada                         assets (Note 16).
        aset lain-lain (Catatan 16).
        Pada tanggal 20 Januari 2015, Bank                                 On January 20, 2015, the Bank filed letters of tax
        mengajukan surat keberatan atas seluruh                            objection on all of the aforementioned
        SKPKB tersebut di atas. Pada tanggal 14                            underpayment Tax Assessment Letter. On
        Januari 2016, Kantor Pajak telah menerbitkan                       January 14, 2016, the Tax Office has issued
        Surat Keputusan Keberatan yang menolak                             Objection Decision Letters which has rejected all
        seluruh permohonan keberatan Bank. Pada                            of the Bank's objections. On April 2, 2016, the
        tanggal 2 April 2016 Bank mengajukan                               Bank filed the appeal letters to the Tax Court on
        permohonan banding atas Surat Keputusan                            all of the aforementioned objection decision
        Keberatan tersebut ke Pengadilan Pajak. Pada                       letters. On October 19, 2017, Tax Court has
        tanggal 19 Oktober 2017 Pengadilan Pajak telah                     issued an appeal decision in favour of the Bank’s
        menerbitkan     surat     keputusan      yang                      Tax Appeal and order tax office to refund the
        memenangkan Wajib Pajak dan memerintahkan                          prepaid tax.
        kantor pajak untuk membayar kembali uang
        muka pajak tersebut.


                                                           208
Page 605
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                        38. TAXATION (continued)

   e.   Penurunan Tarif Pajak Penghasilan Badan                       e.   Reduction of the Tax Rate of Corporate Income
        (lanjutan)                                                         Tax (continued)

        Pemeriksaan tahun pajak 2012 (lanjutan)                            Assessment for fiscal year 2012 (continued)

        Berdasarkan Surat Pemberitahuan Hasil                              Based on Notification of Tax Audit Findings
        Pemeriksaan Pajak (SPHP) No. SPHP-                                 (SPHP) No. SPHP-03/PJ.0401/2017 dated May
        03/PJ.0401/2017 tanggal 22 Mei 2017                                22, 2017, regarding tax audit result for the year
        mengenai hasil pemeriksaan pajak untuk tahun                       of 2012, the Bank has received issued Tax
        2012, Bank telah menerima Surat Ketetapan                          Assessment Letter of Tax Underpayment
        Pajak Kurang Bayar (SKPKB) PPh Badan                               (SKPKB) of Corporate Income Tax for the year
        Tahun 2012 sebesar Rp59.307 dengan rincian                         of 2012 amounting to Rp59,307 as follows:
        sebagai berikut:
                                             Pokok/                Denda/
                                          Principal (Rp)         Penalty (Rp)

        Tahun 2012                                                                                                      Year 2012
        SKPKB PPh Badan                                                                        SKPKB Article Corporate Income Tax
           No.00003/206/12/093/17                  40.073                  19.234                       No.00003/206/12/093/17


        Selain itu, Bank juga telah menerima Surat                         Other than that, the Bank has also received the
        Ketetapan Pajak Kurang Bayar (SKPKB) PPh                           Tax Assessment Letters of Tax Underpayment
        Pasal 21, 23, 4 ayat (2) dan PPN sebesar                           (SKPKB) of Article 21, 23, 4 paragraph (2)
        Rp4.834 (termasuk penalti). Seluruh SKPKB                          Income Tax and VAT amounting to Rp4,834
        tersebut termasuk SKPKB PPh Badan telah                            (including penalties).    The entire SKPKB
        dibayar pada tanggal 21 Agustus 2017.                              including for the Corporate Income Tax has
                                                                           been paid on August 21, 2017.

        Namun demikian Bank tidak setuju dengan                            However, the Bank does not agree with the
        SKPKB PPh Badan sebesar Rp48.683 dan                               SKPKB of the Corporate Income Tax
        mengajukan Surat Keberatan kepada Direktorat                       amounting to Rp48,683 and has submitted the
        Jenderal Pajak tanggal 10 Oktober 2017 yang                        objection letter dated October 10, 2017 which
        diterima oleh DJP pada tanggal 12 Oktober                          has been received by the Tax Office on
        2017. Pembayaran tersebut dicatat oleh Bank                        October 12, 2017. This payment is recorded as
        pada aset lain-lain.                                               other assets.
        Kantor Pajak telah menerbitkan Surat                               The Tax Office has issued an Objection
        Keputusan     Keberatan    yang    menolak                         Decision Letter, which has rejected all of the
        permohonan Bank pada tanggal 25 September                          Bank’s objection request, on September 25,
        2018.   Kemudian Bank mengajukan Surat                             2018. Therefore, the Bank has filed an appeal
        Permohonan Banding ke Pengadilan Pajak                             letter dated December 14, 2018 to the Tax
        pada tanggal 14 Desember 2018. Pada tanggal                        Court and the Tax Court has issued a decision
        15 September 2021 Pengadilan Pajak telah                           which has granted all Banks’appeal trough an
        menerbitkan Putusan Banding yang menerima                          Appeal Decision No. PUT-010930.15/2018
        seluruh permohonan banding Bank melalui                            PP/MXVIIIB Tahun 2021 on September 15,
        Putusan        Banding      No.       PUT-                         2021.
        010930.15/2018/PP/MXVIIIB Tahun 2021.

        Pada tanggal 7 Januari 2022, Kantor Pajak                          On January 7, 2022, the Tax Office has
        telah mengembalikan kelebihan pembayaran                           returned the overpayment of tax on Corporate
        pajak atas PPh Badan sebesar Rp48.683 untuk                        Income Tax amounting to Rp48,683 for fiscal
        tahun pajak 2012 sesuai Keputusan Direktur                         years 2012 in accordance with the Decree of
        Jenderal       Pajak      Nomor       KEP-                         the Director General of Taxes Number KEP-
        00072.PPH/WPJ.19/KP.04/2021 pada tanggal                           00072.PPH/WPJ.19/KP.04/ 2021 on October
        14 Oktober 2021.                                                   14, 2021.




                                                           209
Page 606
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                          38. TAXATION (continued)

   e.   Penurunan Tarif Pajak Penghasilan Badan                         e.   Reduction of the Tax Rate of Corporate Income
        (lanjutan)                                                           Tax (continued)
        Pemeriksaan tahun pajak 2013                                          Assessment for fiscal year 2013
        Berdasarkan Surat Pemberitahuan Hasil                                Based on Notification of Tax Audit Findings
        Pemeriksaan Pajak (SPHP) No. SPHP-                                   (SPHP)                             No.SPHP-
        294/WPJ.10/KP.1005/RIK.SIS/2016      tanggal                         294/WPJ.10/KP.1005/RIK.SIS/2016         dated
        21   September 2016 mengenai            hasil                        September 21, 2016, regarding tax audit result
        pemeriksaan terhadap       Kantor   Cabang                           on the Semarang Branch Office for the year of
        Semarang untuk tahun 2013, Bank telah                                2013, Bank has received Tax Assessment
        menerima Surat Ketetapan Pajak Kurang                                Letter of Tax Underpayment (SKPKB) as
        Bayar (SKPKB) dengan rincian sebagai berikut:                        follows:
                                               Pokok/                Denda/
                                            Principal (Rp)         Penalty (Rp)

        Tahun 2013                                                                                                      Year 2013
        SKPKB PPh Pasal 21                                                                                       SKPKB Article 21
           No.00001/243/13/511/16                             64                   30                     No.00001/243/13/511/16
        SKPKB PPh Pasal 23                                                                                       SKPKB Article 23
           No.00060/203/13/511/16                            0,2                   0,1                     No.00060/203/13/511/16

        Total                                             64,2                    30,1                                       Total


        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00012/240/13/511/16                            381                  183                      No.00012/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00013/240/13/511/16                            381                  183                      No.00013/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00014/240/13/511/16                            381                  183                     No.00014/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00015/240/13/511/16                            381                  183                     No.00015/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00016/240/13/511/16                            381                  183                     No.00016/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00017/240/13/511/16                            381                  183                     No.00017/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00018/240/13/511/16                            381                  183                     No.00018/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00019/240/13/511/16                            381                  183                     No.00019/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00020/240/13/511/16                            381                  183                     No.00020/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00021/240/13/511/16                            381                  183                     No.00021/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00022/240/13/511/16                            381                  183                     No.00022/240/13/511/16
        SKPKB PPh Pasal 4 ayat 2                                                                                SKPKB Article 4 (2)
           No.00023/240/13/511/16                            381                  183                     No.00023/240/13/511/16

        Total                                           4.572                 2.196                                          Total


        Pada tanggal 17 November 2016, Bank telah                            On November 17, 2016, the Bank has paid the
        melakukan pembayaran atas seluruh tagihan                            entire amount in the Tax Assessment Letters
        dalam Surat Ketetapan Pajak Kurang Bayar                             (TAL) of Tax Underpayment (SKPKB). The
        (SKPKB). Pembayaran atas SKPKB PPh                                   payment of the TAL of Article 21 and Article 23
        Pasal 21 dan Pasal 23 yaitu sebesar Rp94                             amounted to Rp94 has been charged as tax
        telah dicatat sebagai biaya pajak di tahun 2016                      expenses in 2016 since the Bank has agreed
        karena bank setuju atas SKPKB tersebut.                              with the said SKPKB. However, in regard to
        Sedangkan pembayaran atas SKPKB PPh                                  the payment of the SKPKB of Article 4
        Pasal 4 ayat (2) yaitu sebesar Rp6.768 dicatat                       paragraph (2) amounting to Rp6,768 has been
        sebagai uang muka pajak (Catatan 16) karena                          recognized as prepaid tax (Note 16) since
        Bank tidak setuju dengan SKPKB tersebut.                             Bank did not agree with the SKPKB. On
        Pada tanggal 6 Januari 2017, Bank                                    January 6, 2017, the Bank filed letters of tax
        mengajukan surat keberatan atas SKPKB PPh                            objection on the aforementioned TAL of Article
        Pasal 4 ayat (2) tersebut di atas.                                   4 paragraph (2).




                                                             210
Page 607
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                         38. TAXATION (continued)
   e.   Penurunan Tarif Pajak Penghasilan Badan                        e.   Reduction of the Tax Rate of Corporate Income
        (lanjutan)                                                          Tax (continued)
        Pemeriksaan tahun pajak 2013 (lanjutan)                             Assessment for fiscal year 2013 (continued)
        Pada tanggal 16 Oktober 2017, Kantor Pajak                          On October 16, 2017, the Tax Office has issued
        telah menerbitkan Surat Keputusan Keberatan                         an Objection Decision Letter, which has
        yang menerima sebagian dari permohonan                              partially granted the Bank’s objection request.
        Bank. Berdasarkan Keputusan Keberatan                               Based on the said Objection Decision Letter the
        tersebut, Kantor Pajak telah mengembalikan                          Tax Office has paid the tax overpayment
        kelebihan pembayaran pajak sebesar Rp57                             amounting to Rp57 which was booked as a
        yang telah dicatat sebagai pengurang uang                           deduction to the prepaid taxes. Therefore, the
        muka pajak. Atas pajak yang masih belum                             Bank has filed an appeal letter dated January
        diterima, kemudian Bank mengajukan Surat                            12, 2018 to the Tax Court for the remaining
        Permohonan Banding ke Pengadilan Pajak                              ungranted amounts.
        pada tanggal 12 Januari 2018.
        Pada tanggal 2 Mei 2019, Pengadilan pajak                           On May 2, 2019 The Tax Court has issued a
        telah menerbitkan Putusan Pengadilan Pajak                          decision letter which has partially granted the
        yang memenangkan sebagian dari Banding                              Bank’s appeal. The refund has been received
        oleh Bank. Pengembalian pajak tersebut telah                        on June 20, 2019 and October 28, 2019.
        diterima pada tanggal 20 Juni 2019 dan 28
        Oktober 2019.
        Berdasarkan Surat Pemberitahuan Hasil                               Based on Notification of Tax Audit Findings
        Pemeriksaan Pajak (SPHP) No. SPHP-                                  (SPHP) No. SPHP00011/WPJ.19/KP.040/
        00011/WPJ.19/KP.040/RIKSIS/2017 tanggal                             RIKSIS/2017 dated July 19, 2017, regarding tax
        19 Juli 2017 mengenai hasil pemeriksaan pajak                       audit result for the year of 2013, the Bank has
        untuk tahun 2013, Bank telah menerima Surat                         received issued Tax Assessment Letter of Tax
        Ketetapan Pajak Kurang Bayar (SKPKB) PPh                            Underpayment (SKPKB) of Corporate Income
        Badan Tahun 2013 sebesar Rp183.958 dengan                           Tax for the year of 2013 amounting to
        rincian sebagai berikut:                                            Rp183,958 as follows:
                                              Pokok/                Denda/
                                           Principal (Rp)         Penalty (Rp)

        Tahun 2013                                                                                                       Year 2013
            SKPKB PPh Badan                                                                     SKPKB Article Corporate Income Tax
                No.00006/206/13/093/17             124.296                  59.662                       No.00006/206/13/093/17

        Selain itu, Bank juga telah menerima Surat                          Other than that, the Bank has also received the
        Ketetapan Pajak Kurang Bayar (SKPKB) PPh                            Tax Assessment Letters of Tax Underpayment
        Pasal 21, 4 ayat (2) dan PPN sebesar Rp9.945                        (SKPKB) of Article 21, 4 paragraph (2) Income
        (termasuk penalti). Seluruh SKPKB tersebut                          Tax and VAT amounting to Rp9,945 (including
        termasuk SKPKB PPh Badan telah dibayar                              penalties). The entire SKPKB including for the
        pada tanggal 4 September 2017.                                      Corporate Income Tax has been paid on
                                                                            September 4, 2017.
        Namun demikian Bank tidak sepenuhnya setuju                         However, the Bank did not fully agree with the
        dengan Surat Ketetapan Pajak Kurang Bayar                           SKPKB of the Corporate Income Tax amounting
        (SKPKB) PPh Badan sebesar Rp156.774 dan                             to Rp156,774 and has submitted the objection
        mengajukan      Surat    Keberatan      kepada                      letter dated October 26, 2017. The payment is
        Direktorat jenderal Pajak melalui surat tanggal                     recorded as other assets.
        26 Oktober 2017. Pembayaran tersebut dicatat
        oleh Bank pada aset lain-lain.
        Pada tanggal 7 Januari 2022, Kantor Pajak                           On January 7, 2022, the Tax Office has returned
        telah mengembalikan kelebihan pembayaran                            the overpayment of tax on Corporate Income
        pajak atas PPh Badan sebesar Rp156.774 juta                         Tax amounting to Rp156.774 for fiscal years
        untuk tahun pajak 2013 sesuai Keputusan                             2013 in accordance with the Decree of the
        Direktur Jenderal Pajak Nomor KEP-                                  Director   General     of    Taxes      Number
        00071.PPH/WPJ.19/KP.04/2021 tanggal 13                              KEP-00071.PPH/WPJ.19/KP.04/2021           dated
        Oktober 2021 kepada Bank.                                           October 13, 2021.



                                                            211
Page 608
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                        38. TAXATION (continued)
   e.   Penurunan Tarif Pajak Penghasilan Badan                       e.   Reduction of the Tax Rate of Corporate Income
        (lanjutan)                                                         Tax (continued)
        Pemeriksaan tahun pajak 2013 (lanjutan)                            Assessment for fiscal year 2013 (continued)
        Kantor Pajak telah menerbitkan Surat                               The Tax Office has issued an Objection
        Keputusan     Keberatan    yang    menolak                         Decision Letter, which has rejected the Bank’s
        permohonan Bank pada tanggal 18 September                          objection request, on September 18, 2018.
        2018.   Kemudian Bank mengajukan Surat                             Therefore, the Bank has filed an appeal letter
        Permohonan Banding ke Pengadilan Pajak                             dated December 14, 2018 to the Tax Court. The
        pada tanggal 14 Desember 2018. Pada tanggal                        Tax Court has issued a decision which has
        15 September 2021 Pengadilan Pajak telah                           granted all Banks’appeal trough an Appeal
        menerbitkan Putusan Banding yang menerima                          Decision No. PUT010931.15/2018/PP/MXVIIIB
        seluruh         permohonan         banding                         Tahun 2021 on September 15, 2021.
        Bank melalui Putusan Banding PUT-
        010931.15/2018/PP/MXVIIIB Tahun 2021.
        Pemeriksaan tahun pajak 2014                                       Assessment for fiscal year 2014
        Berdasarkan Surat Pemberitahuan Hasil                              Based on Notification of Tax Audit Findings
        Pemeriksaan Pajak (SPHP) No. SPHP-                                 (SPHP) No. SPHP-00016/WPJ.19/KP.04/2017
        00016/WPJ.19/KP.04/2017         tanggal   5                        dated December 5, 2017, regarding tax audit
        Desember 2017 mengenai hasil pemeriksaan                           result for the year of 2014, the Bank has
        pajak untuk tahun 2014, Bank telah menerima                        received issued Tax Assessment Letter of Tax
        Surat Ketetapan Pajak Kurang Bayar (SKPKB)                         Underpayment (SKPKB) of Corporate Income
        PPh Badan Tahun 2014 sebesar Rp206.337                             Tax amounting to Rp206,337 for the year of
        dengan rincian sebagai berikut:                                    2014 as follows:
                                             Pokok/                Denda/
                                          Principal (Rp)         Penalty (Rp)

         Tahun 2014                                                                                                     Year 2014
            SKPKB PPh Badan                                                                    SKPKB Article Corporate Income Tax
                No.00008/206/14/093/17            139.417                  66.920                       No.00008/206/14/093/17

        Selain itu, Bank juga telah menerima Surat                         Other than that, the Bank has also received the
        Ketetapan Pajak Kurang Bayar (SKPKB) PPh                           Tax Assessment Letters of Tax Underpayment
        Pasal 21, 23, 4 ayat (2) dan PPN sebesar                           (SKPKB) of Article 21, 23, 4 paragraph (2)
        Rp13.530 (termasuk penalti). Seluruh SKPKB                         Income Tax and VAT amounting to Rp13,530
        tersebut termasuk SKPKB PPh Badan telah                            (including penalties). The entire SKPKB
        dibayar pada tanggal 28 Desember 2017.                             including for the Corporate Income Tax has
                                                                           been paid on December 28, 2017.
        Namun demikian Bank tidak sepenuhnya setuju                        However, the Bank did not fully agree with the
        dengan SKPKB PPh Badan sebesar                                     SKPKB of Corporate Income Tax amounting to
        Rp196.971 dan akan mengajukan Surat                                Rp196,971 and submitted the objection letter to
        Keberatan kepada Direktorat Jenderal Pajak                         the Tax Office dated March 9, 2018.
        pada tanggal 9 Maret 2018.
        Kantor Pajak telah menerbitkan Surat                               The Tax Office has issued an Objection
        Keputusan     Keberatan    yang   menolak                          Decision Letter, which has rejected the Bank’s
        permohonan Bank pada tanggal 2 November                            objection request, on November 2, 2018.
        2018. Kemudian Bank mengajukan Surat                               Therefore, the Bank has filed an appeal letter
        Permohonan Banding ke Pengadilan Pajak                             dated January 31, 2019 to the Tax Court. The
        pada tanggal 31 Januari 2019. Pada tanggal                         Tax Court has issued a decision which has
        15 September 2021 Pengadilan Pajak telah                           granted all Banks’appeal trough an Appeal
        menerbitkan Putusan Banding yang menerima                          Decision               No.               PUT-
        seluruh permohonan banding Bank melalui                            000840.15/2019/PP/M.XVIIIB Tahun 2021 on
        Putusan            Banding           PUT-                          September 15, 2021.
        000840.15/2019/PP/M.XVIIIB Tahun 2021.




                                                           212
Page 609
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


38. PERPAJAKAN (lanjutan)                                        38. TAXATION (continued)

   e.   Penurunan Tarif Pajak Penghasilan Badan                      e.   Reduction of the Tax Rate of Corporate Income
        (lanjutan)                                                        Tax (continued)
        Pemeriksaan tahun pajak 2014                                      Assessment for fiscal year 2014
        Pada tanggal 11 Maret 2022, Kantor Pajak                          On March 11, 2022, the Tax Office has returned
        telah mengembalikan kelebihan pembayaran                          the overpayment of tax to the Bank for
        pajak kepada Bank atas PPh Badan, dengan                          Corporate Income Tax, wit net value of
        nilai netto sebesar Rp196.740 untuk tahun                         Rp196.74 for fiscal year 2014 after being
        pajak 2014 setelah dikompensasi atas pajak                        compensated for tax payable amounting to
        terhutang sebesar Rp231 sesuai Keputusan                          Rp231         in       accordance          with
        Direktur      Jenderal   Pajak      Nomor                         KEP/00070.PPH/WPJ.19/KP.04/2021          dated
        KEP00070.PPH/WPJ.19/KP.04/2021 tanggal                            October 13, 2021.
        13 Oktober 2021.

39. KOMITMEN DAN KONTINJENSI                                     39. COMMITMENTS AND CONTINGENCIES

   Saldo komitmen dan kontinjensi pada tanggal                       The outstanding commitments and contingencies as
   31 Desember 2023 dan 2022 adalah sebagai                          of December 31, 2023 and 2022 are as follows:
   berikut:
                                           31 Desember/         31 Desember/
                                         December 31, 2023    December 31, 2022

   KOMITMEN                                                                                                  COMMITMENTS
   Liabilitas komitmen                                                                                 Commitments payable
       Fasilitas kredit kepada nasabah                                                                  Unused loan facility
           yang belum ditarik                   18.933.652          15.109.981                             commitments
       Irrevocable L/C yang                                                                                      Outstanding
           masih berjalan (Catatan 27)             20.106              221.484                   irrevocable L/Cs (Note 27)

  Komitmen - neto                               18.953.758          15.331.465                            Commitments - net


   KONTINJENSI                                                                                             CONTINGENCIES
   Tagihan kontinjensi                                                                                 Contingent receivables
      Pendapatan bunga dalam                                                                             Interest income on
         penyelesaian                            3.598.041           6.855.269                     non-performing assets

   Liabilitas kontinjensi                                                                              Contingent payables
       Garansi yang diterbitkan                                                                       Guarantees issued
            (Catatan 27)                        (2.579.175)           (948.495)                               (Note 27)

   Kontinjensi - neto                            1.018.866           5.906.774                           Contingencies - net



40. IMBALAN KERJA                                                40. EMPLOYEE BENEFITS

   Program pensiun imbalan pasti                                     Defined benefit pension plan

   Program dana Pensiun diadministrasikan dan                        The Pension Plan’s assets are being administered
   dikelola oleh Dana Pensiun PT Bank Tabungan                       and managed by Dana Pensiun PT Bank Tabungan
   Negara (Persero) Tbk (DPBTN).                                     Negara (Persero) Tbk (DPBTN).

   Sesuai dengan ketentuan Dana Pensiun, Program                     According to the Pension Fund regulation, the
   Pensiun dibiayai dari iuran karyawan dan iuran                    pension plan is funded through contributions from
   Bank. Iuran karyawan adalah sebesar 5% dari                       both the employees and the Bank. Employees’
   penghasilan dasar pensiun karyawan dan atas sisa                  contributions are computed at 5% of the employees’
   jumlah yang perlu didanakan kepada DPBTN                          basic pension salaries and any remaining amount
   merupakan kontribusi Bank.                                        required to fund DPBTN represents the contributions
                                                                     by the Bank.



                                                        213
Page 610
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


40. IMBALAN KERJA (lanjutan)                                  40. EMPLOYEE BENEFITS (continued)
   Program pensiun iuran pasti (lanjutan)                        Defined contribution plan (continued)
   Efektif tanggal 1 Januari 2004, semua pekerja yang            Effective January 1, 2004, all newly appointed
   baru diangkat sebagai pekerja tetap tidak                     permanent employees are not included in the
   diikutsertakan dalam program pensiun imbalan pasti            defined benefit pension plan (DPBTN), instead, the
   (DPBTN), namun demikian, karyawan Bank                        Bank’s employees are included in the defined
   diikutsertakan dalam program pensiun iuran pasti              contribution pension plan which was effective since
   yang berlaku efektif sejak bulan Januari 2004.                January 2004. This defined contribution pension
   Program Pensiun ini dikelola oleh Dana Pensiun                plan is managed by Dana Pensiun Lembaga
   Lembaga Keuangan PT Bank Negara Indonesia                     Keuangan PT Bank Negara Indonesia (Persero)
   (Persero) Tbk (DPLK).                                         Tbk (DPLK).
   Beban pensiun iuran pasti yang telah dibebankan               Defined contribution pension expense that was
   pada laporan laba rugi adalah sebesar Rp43.871                charged to profit or loss amounted to Rp43,871 and
   dan Rp35.782 masing-masing untuk tahun yang                   Rp35,782 for the years ended December 31, 2023
   berakhir pada tanggal 31 Desember 2023 dan 2022.              and 2022, respectively.
   Imbalan kerja jangka panjang lainnya                          Other long-term employee benefits
   Bank memberikan imbalan kerja kepada pegawai                  The Bank provides employee benefits in the form of
   berupa penghargaan masa kerja dan Masa                        allowance for gratuity for services and retirement
   Persiapan Pensiun (MPP) yaitu 1 (satu) tahun                  preparation period (MPP), which is within 1 (one)
   sebelum pegawai mencapai usia pensiun normal                  year before the normal pension age (56 years old).
   (usia 56 tahun).
   Masa Persiapan Pensiun (MPP) adalah Masa                       Retirement Preparation Period (MPP) is the period
   Pegawai Tetap dibebastugaskan karena telah                     when permanent employees are dismissed
   mendekati usia pensiun normal. Pada ketentuan                  because they are approaching normal retirement
   sebelumnya (Surat Edaran Direksi Nomor                         age. In the previous provisions (Circular Letter of
   62/SE/DIR/HCSD/2019) dijelaskan bahwa Pegawai                  the      Board          of    Directors    Number
   Tetap yang telah memasuki usia 55 tahun maka                   62/SE/DIR/HCSD/2019) it is explained that
   akan melaksanakan MPP dengan Hak upah berupa                   Permanent Employees who have entered the age
   Gaji Pokok Pegawai bulan terakhir hingga Pegawai               of 55 will carry out MPP with Wage Rights in the
   ybs memasuki usia pensiun (56 tahun), apabila                  form of the last month's Basic Employee Salary
   dipandang perlu karena keahlian/pengalaman                     until the Employee concerned enters retirement
   Pegawai Tetap yang bersangkutan masih                          age (56 years ), if it is deemed necessary because
   diperlukan,   Direksi   dapat      menangguhkan/               the expertise/experience of the Permanent
   menghapuskan MPP yang bersangkutan dan                         Employee concerned is still needed, the Board of
   selama dipekerjakan yang bersangkutan tetap                    Directors can suspend/remove the MPP concerned
   diberikan penghasilan seperti halnya pada waktu                and while employed the person concerned is still
   Pegawai Tetap tersebut masih aktif (sebelum MPP).              given income as was the case when the Permanent
                                                                  Employee was still active (before MPP).
   Terdapat perubahan ketentuan pelaksanaan MPP                  There are changes to the provisions for
   sebagaimana ditetapkan pada Perjanjian Kerja                  implementing MPP as stipulated in the Bank BTN
   Bersama (PKB) Bank BTN tahun 2022 pasal 69 ayat               Collective Labor Agreement (PKB) in 2022 article
   1 dimana Pegawai yang memasuki usia MPP (55                   69 paragraph 1 where Employees who enter MPP
   tahun) maka akan tetap bekerja hingga usia pensiun            age (55 years) will continue to work until retirement
   (56 tahun) dan apabila Pegawai ingin menjalani                age (56 years) and if Employees wish to undergo
   MPP maka dapat mengajukan permohonan kepada                   MPP then may apply to the Company. The changes
   Perusahaan. Perubahan ketentuan pelaksanaan                   to the MPP implementation provisions have also
   MPP tersebut juga telah disosialisasikan kepada               been socialized to all Bank employees based on
   seluruh Pegawai Bank berdasarkan memo nomor                   memos number 244/M/HCSD/HCSP/IX/2022 and
   244/M/HCSD/HCSP/IX/2022           dan       nomor             number       370/M/HCMD/ER/IX/2022          regarding
   370/M/HCMD/ER/IX/2022 perihal Pemberitahuan                   Notification of Changes in Retirement Preparation
   Perubahan Ketentuan Masa Persiapan Pensiun                    Period (MPP).
   (MPP).




                                                        214
Page 611
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


40. IMBALAN KERJA (lanjutan)                                       40. EMPLOYEE BENEFITS (continued)

   Imbalan kerja jangka panjang lainnya (lanjutan)                      Other long-term employee benefits (continued)

   Karyawan Bank juga memperoleh manfaat dari                          Bank employees are also given welfare program,
   pemberian program kesejahteraan, kontribusi                         employees’ contributions are 0.00% of their net
   karyawan terhadap dana kesejahteraan sebesar                        wages for welfare program benefits and the Bank
   0,00% dikali gaji bersih dan kontribusi Bank sebesar                contributions are 3.50%. The plan assets are being
   3,50%. Aset program diadministrasikan dan dikelola                  administered     and   managed      by    Yayasan
   oleh Yayasan Kesejahteraan Pegawai PT Bank                          Kesejahteraan Pegawai PT Bank Tabungan Negara
   Tabungan Negara (YKPBTN).                                           (YKPBTN).

   Perhitungan aktuaris atas imbalan kerja pada                        The actuarial valuation of employee benefits as of
   tanggal 31 Desember 2023 dan 2022 masing-                           December 31, 2023 and 2022, are based on the
   masing adalah berdasarkan laporan aktuaris                          actuarial reports dated February 5, 2024 and
   tanggal 5 Februari 2024 dan 13 Februari 2023 dari                   February 13, 2023, of Kantor Konsultan Aktuaria
   aktuaris Kantor Konsultan Aktuaria Santhi Devi dan                  Santhi Devi dan Ardianto Handoyo respectively,
   Ardianto Handoyo dengan menggunakan metode                          using the “Projected Unit Credit” method.
   “Projected Unit Credit”.


                                            31 Desember/          31 Desember/
                                         December 31, 2023      December 31, 2022

  Asumsi ekonomi:                                                                                   Economics assumptions:
   Tingkat kenaikan penghasilan dasar                                                                Basic pensionable annual
       pensiun                                       8,00%                 6,00%                        salary increase rate
   Tingkat diskonto per tahun sebelum                                                               Annual discount rate before
       usia pensiun normal                           6,75%                 7,00%                     normal retirement age

  Asumsi lainnya:                                                                                          Other assumptions:
   Usia pensiun normal                      56 tahun/years         56 tahun/years                         Normal retirement age

   Tingkat mortalita (kematian)                  TMI-2019               TMI-2019                                   Mortality rate

   Tingkat cacat                          1,00% mortalita/        1,00% mortalita/                                 Disability rate
                                               mortality                mortality

  Asumsi lainnya (lanjutan):                                                                  Other assumptions (continued):
   Tingkat Diskonto per tahun untuk:                                                                      Annual Discount rate:
    Imbalan Jangka Panjang Lainnya -                                                                   Other long-term benefits
       Penghargaan Masa Kerja                        6,75%                 7,00%                                    Gratuity
    Program Pesangon Pensiun -                                                                  Retirement severance program
       Selisih DPLK                                  6,75%                 7,00%                      Difference from DPLK
    Masa Persiapan Pensiun                           6,75%                 7,00%                 Retirement Preparation Period
    Program Pensiun Imbalan Pasti                    6,75%                 7,25%                 Deferred Benefit Pension Plan
    Program Kesejahteraan                            6,75%                 7,00%                              Welfare Program

   Tingkat pengunduran diri                                                                                        Turnover rate
       Umur 25                                       5,00%                 5,00%                                     Age 25
       Umur 30                                       5,00%                 5,00%                                     Age 30
       Umur 35                                       5,00%                 5,00%                                     Age 35
       Umur 40                                       5,00%                 5,00%                                     Age 40
       Umur 45                                       5,00%                 5,00%                                     Age 45
       Umur 50                                       4,00%                 3,00%                                     Age 50
       Umur 55                                       9,00%                 9,00%                                     Age 55




                                                          215
Page 612
                                                                                    The original financial statements included herein are in the
                                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                        unless otherwise stated)


40. IMBALAN KERJA (lanjutan)                                                 40. EMPLOYEE BENEFITS (continued)
   Penghargaan masa kerja, program pesangon                                          Gratuity for services, retirement severance program-
   pensiun-selisih DPLK, masa persiapan pensiun dan                                  difference from DPLK, retirement preparation period
   program kesejahteraan dicantumkan dalam                                           and welfare program are included in other benefits.
   program lainnya.

   a.   Biaya imbalan kerja                                                          a.   Employee benefits expense
                                                        31 Desember/December 31, 2023

                                          Program Pensiun/     Program Lainnya/
                                            Pension Plan        Other Benefits              Total

        Biaya jasa kini                              34.991             161.198                 196.189                       Current service cost
        Iuran peserta                                (6.526)              (6.729)                (13.255)             Contribution from participant
        Beban bunga neto                               1.271              63.231                  64.502                          Net interest cost
        Kerugian aktuaria                                  -            (41.361)                (41.361)                              Actuarial loss
        Biaya jasa lalu                             (12.446)            (23.817)                (36.263)                         Past service cost

        Beban imbalan kerja                                                                                                    Employee benefits
            - neto                                  17.290              152.522                 169.812                         expense - net



                                                        31 Desember/December 31, 2022

                                          Program Pensiun/     Program Lainnya/
                                            Pension Plan        Other Benefits              Total

        Biaya jasa kini                             35.276              106.523                 141.799                      Current service cost
        Iuran peserta                               (7.050)               (7.153)                (14.203)           Contribution from participant
        Beban bunga neto                              5.394               46.104                  51.498                          Net interest cost
        Kerugian aktuaria                                  -              76.053                  76.053                              Actuarial loss
        Biaya jasa lalu                             11.460              256.180                 267.640                          Past service cost
        Perubahan metode atribusi                         -             (68.659)                (68.659)      Change in benefit attribution method

        Beban imbalan kerja                                                                                                    Employee benefits
             - neto                                 45.080              409.048                 454.128                         expense - net


   b.   Mutasi atas kewajiban imbalan kerja                                          b.   Movements of liabilities for employee benefits
                                                        31 Desember/December 31, 2023

                                          Program Pensiun/     Program Lainnya/
                                            Pension Plan        Other Benefits              Total

        Saldo awal                                 107.214              966.297               1.073.511                            Beginning balance
        Beban imbalan kerja                                                                                           Employee benefits expense
            tahun berjalan - neto                   17.289              152.523                 169.812                  during the year - net
        Pengukuran kembali liabilitas                                                                              Reameasurement of employee
            (aset) imbalan kerja - neto             76.466              109.561                 186.027            benefit liability (asset) - net
        Pembayaran iuran                                                                                                       Payment contribution
            tahun berjalan                         (45.186)            (104.822)               (150.008)                      from current year

        Saldo kewajiban pada                                                                                                   Balance liabilities
         akhir tahun (Catatan 28)                  155.783             1.123.559              1.279.342              at end of year (Note 28)


                                                        31 Desember/December 31, 2022

                                          Program Pensiun/     Program Lainnya/
                                            Pension Plan        Other Benefits              Total

        Saldo awal                                 148.266              710.429                 858.695                            Beginning balance
        Beban imbalan kerja                                                                                           Employee benefits expense
            tahun berjalan - neto                   45.080              409.048                 454.128                  during the year - net
        Pengukuran kembali liabilitas                                                                              Reameasurement of employee
            (aset) imbalan kerja - neto            (49.512)             (10.360)                (59.872)           benefit liability (asset) - net
        Pembayaran iuran                                                                                                       Payment contribution
            tahun berjalan                         (36.620)            (142.820)               (179.440)                      from current year

        Saldo kewajiban pada                                                                                                   Balance liabilities
         akhir tahun (Catatan 28)                  107.214                966.297              1.073.511             at end of year (Note 28)




                                                                    216
Page 613
                                                                           The original financial statements included herein are in the
                                                                                                                 Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                   and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                             unless otherwise stated)


40. IMBALAN KERJA (lanjutan)                                         40. EMPLOYEE BENEFITS (continued)

   c.   Mutasi nilai kini liabilitas imbalan kerja adalah                   c.   The movements in the present value of liabilities
        sebagai berikut:                                                         for employee benefits are as follows:

                                                31 Desember/December 31, 2023

                                    Program Pensiun/   Program Lainnya/
                                     Pension Plan       Other Benefits             Total

        Saldo awal                        2.226.053           1.930.356              4.156.409                        Beginning balance
        Biaya jasa kini                       34.991            161.198                196.189                       Current service cost
        Beban bunga                         156.762             127.009                283.771                              Interest cost
        Biaya jasa lalu                     (12.446)            (23.817)               (36.263)                        Past service cost
        Manfaat yang dibayarkan           (155.673)            (186.015)             (341.688)                             Benefits paid
        Kerugian/(keuntungan)
          aktuaria                          196.444               89.339               285.783                       Actuarial loss/(gain)

        Saldo pada akhir tahun            2.446.131           2.098.070              4.544.201               Balance at the end of year




                                                31 Desember/December 31, 2022

                                    Program Pensiun/   Program Lainnya/
                                     Pension Plan       Other Benefits             Total

        Saldo awal                        2.186.761           1.633.262              3.820.023                        Beginning balance
        Biaya jasa kini                      35.276             106.523                141.799                     Current service cost
        Beban bunga                         152.585             110.738                263.323                                Interest cost
        Biaya jasa lalu                      11.460             256.180                267.640                          Past service cost
        Manfaat yang dibayarkan            (140.158)           (208.970)             (349.128)                               Benefits paid
        Perubahan metode atribusi                 -             (68.660)               (68.660)      Change in benefit attribution method
        Kerugian/(keuntungan)
          aktuaria                          (19.871)            101.283                 81.412                       Actuarial loss/(gain)

        Saldo pada akhir tahun            2.226.053           1.930.356              4.156.409               Balance at the end of year




   d.   Mutasi nilai wajar aset program adalah sebagai                      d. The movements in the fair value of plan assets
        berikut:                                                               are as follows:
                                                31 Desember/December 31, 2023

                                    Program Pensiun/   Program Lainnya/
                                     Pension Plan       Other Benefits             Total

        Saldo awal                        2.118.844           1.030.736              3.149.580                         Beginning balance
        Hasil pengembangan aset
         program                             275.470             116.700                392.170                    Return on plan asset
        Kontribusi Bank                       45.183              26.056                 71.239                Contributions by the Bank
        Kontribusi pegawai                     6.526               6.729                 13.255                  Employees contribution
        Manfaat yang dibayarkan            (155.673)           (107.231)              (262.904)                             Benefits paid

        Saldo pada akhir tahun            2.290.350           1.072.990              3.363.340               Balance at the end of year


                                                31 Desember/December 31, 2022

                                    Program Pensiun/   Program Lainnya/
                                     Pension Plan       Other Benefits             Total

        Saldo awal                        2.038.499             995.996              3.034.495                         Beginning balance
        Hasil pengembangan aset
         program                             176.833              93.752                270.585                    Return on plan asset
        Kontribusi Bank                       36.620              29.036                 65.656                Contributions by the Bank
        Kontribusi pegawai                     7.050               7.153                 14.203                  Employees contribution
        Manfaat yang dibayarkan            (140.158)            (95.201)              (235.359)                             Benefits paid

        Saldo pada akhir tahun            2.118.844           1.030.736              3.149.580               Balance at the end of year




                                                            217
Page 614
                                                                                     The original financial statements included herein are in the
                                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                       unless otherwise stated)


40. IMBALAN KERJA (lanjutan)                                                 40. EMPLOYEE BENEFITS (continued)

   e.   Pengukuran kembali (aset) liabilitas imbalan                                  e.   Remeasurement of net employee benefit
        kerja neto:                                                                        (asset) liabilities:

                                                       31 Desember/December 31, 2023

                                          Program Pensiun/    Program Lainnya/
                                           Pension Plan        Other Benefits                Total

        Saldo awal                                 145.559             360.188                    505.747                        Beginning balance
        Kerugian aktuaris                          196.444             130.699                    327.143                               Actuary loss
        Imbal hasil atas aset program            (119.979)             (46.916)                 (166.895)                     Return on plan assets
                                                                                                                             Change in effect of the
        Perubahan atas dampak atas aset                                                                                     asset ceiling excluding
         diluar bunga neto aset/liabilitas                -               25.781                  25.781             net interest of asset/liabilities

        Saldo pada akhir tahun                     222.024             469.752                   691.776               Balance at the end of year




                                                       31 Desember/December 31, 2022

                                          Program Pensiun/    Program Lainnya/
                                           Pension Plan        Other Benefits                Total

        Saldo awal                                195.072              370.549                    565.621                        Beginning balance
        Kerugian aktuaris                         (19.871)               25.231                     5.360                               Actuary loss
        Imbal hasil atas aset program             (29.642)             (21.199)                  (50.841)                     Return on plan assets
                                                                                                                             Change in effect of the
        Perubahan atas dampak atas aset                                                                                     asset ceiling excluding
            diluar bunga neto aset/liabilitas             -            (14.391)                  (14.391)             net interest of asset/liabilities

        Saldo pada akhir tahun                     145.559             360.190                   505.749               Balance at the end of year


   f.   Portofolio investasi aset program yang                                        f.   The asset program’s investment portfolio is
        ditempatkan dalam bentuk instrumen keuangan                                        placed in the form of financial instruments
        yang terdiri dari reksadana, efek beragunan                                        including mutual funds, asset backed securities,
        aset, surat berharga negara, obligasi, deposito                                    government securities, bonds, time deposits
        berjangka dan saham.                                                               and shares of stocks.
        Status pendanaan imbalan kerja per                                                 Funding status of employee benefit as of
        31 Desember 2023 dan 2022 disajikan sebagai                                        December 31, 2023 and 2022 are as follow:
        berikut:
                                                       31 Desember/December 31, 2023

                                                                 Program
                                         Program Pensiun/     Kesejahteraan/
                                           Pension Plan       Welfare Benefits               Total

        Nilai wajar aset dana                                                                                                    Fair value of plan
         (tidak diaudit)                         2.290.350            1.072.990                3.363.340                     assets (unaudited)
        Nilai kini liabilitas manfaat                                                                              Present value of funded defined
         pasti yang didanai                     (2.446.131)           (974.509)               (3.420.640)                      benefit obligation

        Selisih lebih (kurang) pendanaan         (155.781)                98.481                 (57.300)                  Funding surplus (deficit)
        Selisih lebih pendanaan yang
         tidak diakui                                     -              (98.481)                (98.481)                          Asset adjustment

        Kewajiban - neto                         (155.781)                       -              (155.781)                           Liabilities - net




                                                                   218
Page 615
                                                                                      The original financial statements included herein are in the
                                                                                                                            Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                        unless otherwise stated)


40. IMBALAN KERJA (lanjutan)                                                   40. EMPLOYEE BENEFITS (continued)

   f.    Portofolio investasi aset program yang                                        f.     The asset program’s investment portfolio is
         ditempatkan    dalam    bentuk   instrumen                                           placed in the form of financial instruments
         keuangan yang terdiri dari reksadana, efek                                           including mutual funds, asset backed securities,
         beragunan aset, surat berharga negara,                                               government securities, bonds, time deposits
         obligasi, deposito berjangka dan saham.                                              and shares of stocks. (continued)
         (lanjutan)

         Status pendanaan imbalan kerja per                                                   Funding status of employee benefit as of
         31 Desember 2023 dan 2022 disajikan sebagai                                          December 31, 2023 and 2022 are as follow:
         berikut: (lanjutan)                                                                  (continued)

                                                      31 Desember/December 31, 2022

                                                                  Program
                                         Program Pensiun/      Kesejahteraan/
                                           Pension Plan        Welfare Benefits                 Total

         Nilai wajar aset dana                                                                                                    Fair value of plan
          (tidak diaudit)                       2.118.844                1.030.736                3.149.580                   assets (unaudited)
         Nilai kini liabilitas manfaat                                                                              Present value of funded defined
          pasti yang didanai                   (2.226.053)               (964.038)               (3.190.091)                    benefit obligation

         Selisih lebih (kurang) pendanaan       (107.209)                  66.698                  (40.511)                Funding surplus (deficit)
         Selisih lebih pendanaan yang
          tidak diakui                                   -                (66.698)                 (66.698)                       Asset adjustment

         Kewajiban - neto                       (107.209)                         -               (107.209)                         Liabilities - net



         Per tanggal 31 Desember 2023 dan 2022, tidak                                         As of December 31, 2023 and 2022, there were
         ada selisih lebih aset kesejahteraan yang diakui                                     no recognition of surplus of Welfare Benefits
         di laporan posisi keuangan karena ketentuan                                          Plan assets in the statement of financial position
         untuk pengakuan aset dari selisih lebih                                              as the funding surplus did not meet the
         pendanaan yang disyaratkan dalam standar                                             recognition criteria of assets under the
         akuntansi tidak terpenuhi.                                                           accounting standards.


  g.    Sensitivitas dari kewajiban imbalan kerja (tidak                              g.     The sensitivity of employee benefit liability
        diaudit) terhadap perubahan asumsi aktuaria                                          (unaudited) to the changes in actuarial
        sebagai berikut:                                                                     assumptions is as follow:

                                                     31 Desember/             31 Desember/
                                                  December 31, 2023        December 31, 2022

        Tingkat diskonto                                                                                                          Discount rate:
          Kenaikan 1%                                        (360.599)                     (363.644)                               Increase 1%
          Penurunan 1%                                         425.590                      431.961                               Decrease 1%
        Tingkat kenaikan gaji                                                                                             Salary increase rate:
          Kenaikan 1%                                          237.562                      221.622                               Increase 1%
          Penurunan 1%                                       (163.484)                     (191.781)                            Decrease 1%




                                                                    219
Page 616
                                                                             The original financial statements included herein are in the
                                                                                                                   Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                   PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                          NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                           As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                     and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                        (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                               unless otherwise stated)


40. IMBALAN KERJA (lanjutan)                                           40. EMPLOYEE BENEFITS (continued)

   h.    Analisis jatuh tempo yang diharapkan dari                           h.   Expected maturity analysis of undiscounted
         manfaat pensiun yang tidak terdiskonto adalah                            pension benefit is as follows: (unaudited)
         sebagai berikut: (tidak diaudit)

                                                31 Desember/December 31, 2023

                                   Program Pensiun/    Program Lainnya/
                                    Pension Plan        Other Benefits               Total

         Sampai dengan 1 tahun               176.478               256.396               432.874                             Up to 1 year
         1 sampai 5 tahun                    878.676             1.046.050             1.924.726                     Between 1 to 5 years
         5 sampai 10 tahun                 1.027.144               848.474             1.875.618                    Between 5 to 10 years

         Total                             2.082.298             2.150.920             4.233.218                                   Total


                                                31 Desember/December 31, 2022

                                   Program Pensiun/    Program Lainnya/
                                    Pension Plan        Other Benefits               Total
         Sampai dengan 1 tahun               127.654              278.591                406.245                             Up to 1 year
         1 sampai 5 tahun                    835.385              978.527              1.813.912                     Between 1 to 5 years
         5 sampai 10 tahun                 1.064.334              641.241              1.705.575                    Between 5 to 10 years

         Total                             2.027.373             1.898.359             3.925.732                                   Total



        Rata-rata durasi tertimbang kewajiban imbalan                             The average duration of the defined benefit
        pasti adalah sebagai berikut:                                             obligations are as follow:
                                            31 Desember 2023/      31 Desember 2022/
                                            December 31, 2023      December 31, 2022

        Pensiun                              10,09 tahun/years      10,05 tahun/years                                         Pension
        Kesejahteraan                         9,82 tahun/years       9,50 tahun/years                                   Welfare benefit

        Program lainnya                                                                                               Other programs:
          Pesangon                            10,28 tahun/years      7,49 tahun/years                        Post employment benefit
          Masa persiapan pensiun              10,28 tahun/years      7,67 tahun/years                          Pre-retirement benefit
          Imbalan jangka panjang lainnya      10,28 tahun/years      7,49 tahun/years                         Other long term benefit




                                                            220
Page 617
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


40. IMBALAN KERJA (lanjutan)                                    40. EMPLOYEE BENEFITS (continued)

  i.   Risiko                                                     i.   Risk

       Bank tereskpos beberapa risiko atas program                     The Bank is exposed to a number of risks
       imbalan kerja antara lain:                                      through its employee benefit plans as follows:

          Risiko yang terekspos pada program iuran                        The exposed risks in defined contribution
           pasti adalah hasil investasi dibawah tingkat                     plan is lower return on investment compared
           diskonto. Akumulasi iuran aktual lebih kecil                     to assumption on discount rate. The
           dari nilai yang diasumsikan sehingga                             accumulated actual contribution to be lower
           mengakibatkan        selisih    pembayaran                       than its assumption resulted increase the
           terhadap                     Undang-Undang                       difference in the amount of contribution
           Ketenagakerjaan akan meningkat dan                               based on Labor Law, and will also increase
           berdampak pada beban dan liabilitas yang                         the amount of the related expenses and
           akan meningkat pula.                                             liabilities.

          Risiko yang terekspos pada program                              The exposed risks in defined benefit
           manfaat pasti adalah adanya tingkat hasil                        pension plan is the lower return on
           investasi dibawah asumsi discount rate dan                       investment compared to assumption on
           kenaikan gaji aktual yang lebih besar dari                       discount rate and the increase in the actual
           asumsi.     Hal   tersebut   menimbulkan                         salary is higher than its assumption. These
           peningkatan iuran yang dibayarkan kepada                         will cause an increase in contribution paid to
           Dana Pensiun.                                                    Pension Fund.

   Pada bulan April 2022, Dewan Standar Akuntansi                  In April 2022, Institute of Indonesia Chartered
   Keuangan Ikatan Akuntan Indonesia menerbitkan                   Accountants’ Accounting Standard Board issued an
   materi penjelasan melalui siaran pers atas                      explanatory material through a press release
   persyaratan pengatribusian imbalan pada periode                 regarding attribution of benefits to periods of service
   jasa sesuai PSAK No. 24, ”Imbalan Kerja” yang                   in accordance with PSAK No. 24, “Employee
   diadopsi dari IAS 19, ”Employee Benefits”. Materi               Benefits” which was adopted from IAS 19,
   penjelasan tersebut     menyampaikan informasi                  “Employee Benefits”. The explanatory material
   bahwa pola fakta umum dari program pensiun                      conveyed the information that the fact pattern of the
   berbasis undang-undang ketenagakerjaan yang                     pension program based on the labor law currently
   berlaku di Indonesia saat ini memiliki pola fakta               enacted in Indonesia is similar to those responded
   serupa dengan yang ditanggapi dan disimpulkan                   and concluded in the IFRS Intepretation Committee
   dalam IFRS Intepretation Committee Agenda                       Agenda Decision Attributing Benefit to Periods of
   Decision Attributing Benefit to Periods of Service              Service (IAS 19). The impact of the changes of
   (IAS 19). Dampak perubahan perhitungan tersebut                 calculation is immaterial, therefore the impact of the
   adalah tidak material sehingga dibukukan                        changes is recorded entirely in the financial
   seluruhnya pada laporan keuangan tahun berjalan.                statements for the current year.




                                                          221
Page 618
                                                                             The original financial statements included herein are in the
                                                                                                                   Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                      PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                              As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                        and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                           (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                  unless otherwise stated)


41. PELAPORAN SEGMEN                                                       41. SEGMENT REPORTING
  Informasi segmen usaha berdasarkan jenis usaha                              Segment information based on business type are as
  adalah sebagai berikut:                                                     follows:
                                                         31 Desember/December 31, 2023

                                       Konvensional/        Syariah/          Eliminasi/
                                       Conventional          Sharia          Elimination          Total

  Pendapatan segmen                        24.722.529         3.558.723                    -       28.281.252             Segment income
  Beban segmen                            (13.406.425)       (1.444.537)                   -     (14.850.962)           Segment expenses

  Pendapatan segmen - neto                 11.316.104         2.114.186                    -      13.430.290         Segment Income - net

  Pendapatan operasional
    lainnya                                 4.161.842           154.971          (425.666)         3.891.147         Other operating income
  Penyisihan kerugian penurunan                                                                                     Provision for impairment
    nilai aset keuangan dan                                                                                     losses on financial assets
    non-aset keuangan                      (3.653.668)         (111.729)                   -      (3.765.397)     and non-financial assets
  Pembalikkan penyisihan                                                                                           Reversal for allowance for
    estimasi kerugian                                                                                               estimated losses from
    komitmen dan                                                                                                            commitment &
    kontijensi bersih                            1.139                 -                 -             1.139                 contingencies
  Beban operasional lainnya                (7.988.114)       (1.455.002)           425.666        (9.017.450)      Other operating expenses

  Laba operasional                          3.837.303           702.426                    -       4.539.729        Income from operations
  Pendapatan (beban) bukan                                                                                            Non-operating income
   operasional - neto                       (159.428)              (91)                    -       (159.519)            (expenses) - net

  Beban pajak                                                                                      (879.222)                   Tax expense

  Laba tahun berjalan                                                                              3.500.988           Income for the year


  Total aset                              392.854.285        54.288.709         (8.393.258)      438.749.736                   Total assets

   Total liabilitas dan dana syirkah                                                                                  Total liabilities and
    temporer                              363.082.327        53.581.515         (8.393.258)      408.270.584     temporary syirkah fund


                                                         31 Desember/December 31, 2022

                                       Konvensional/        Syariah/          Eliminasi/
                                       Conventional          Sharia          Elimination          Total

  Pendapatan segmen                        23.233.200         2.674.168                    -       25.907.368             Segment income
  Beban segmen                            (10.036.723)         (873.361)                   -     (10.910.084)           Segment expenses

  Pendapatan segmen - neto                 13.196.477         1.800.807                    -      14.997.284         Segment Income - net
  Pendapatan operasional
    lainnya                                 2.405.171            78.845          (209.164)         2.274.852         Other operating income
  Penyisihan kerugian penurunan                                                                                     Provision for impairment
    nilai aset keuangan dan                                                                                     losses on financial assets
    non-aset keuangan                      (3.414.717)         (602.661)                   -      (4.017.378)     and non-financial assets
  Pembalikkan penyisihan                                                                                           Reversal for allowance for
    estimasi kerugian                                                                                               estimated losses from
    komitmen dan                                                                                                            commitment &
    kontijensi bersih                          (1.074)                 -                 -            (1.074)                contingencies
  Beban operasional lainnya                (8.704.656)         (943.389)           209.164        (9.438.881)      Other operating expenses

  Laba operasional                          3.481.201           333.602                    -       3.814.803        Income from operations
  Pendapatan (beban) bukan                                                                                            Non-operating income
   operasional - neto                          60.912              (25)                    -          60.887            (expenses) - net

  Beban pajak                                                                                      (830.617)                   Tax expense

  Laba tahun berjalan                                                                              3.045.073           Income for the year


  Total aset                              364.284.663        45.335.575         (7.471.926)      402.148.312                   Total assets

  Total liabilitas dan dana syirkah                                                                                   Total liabilities and
   temporer                               338.723.316        44.987.568         (7.471.926)      376.238.958     temporary syirkah fund




                                                               222
Page 619
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


42. JAMINAN     PEMERINTAH     TERHADAP                       42. GOVERNMENT     GUARANTEES   ON                       THE
    KEWAJIBAN PEMBAYARAN BANK UMUM                                OBLIGATIONS OF COMMERCIAL BANKS

   Berdasarkan Keputusan        Presiden   Republik              Based on Decision No. 15 year 2004 of the
   Indonesia No. 15 tahun 2004 tentang pengakhiran               President of the Republic of Indonesia regarding the
   tugas dan pembubaran BPPN, dinyatakan dalam                   termination of the role and winding-up of IBRA,
   pasal 8 bahwa dengan diakhirinya tugas dan                    stated on article 8 that in relation with the task
   dibubarkannya BPPN, Program Penjaminan                        completion and dismissal of IBRA, the Government
   Pemerintah terhadap kewajiban pembayaran bank                 Guarantee Program on the obligations of domestic
   umum yang semula dilakukan oleh BPPN                          banks which was originally handled by IBRA based
   berdasarkan     Keputusan    Presiden   Republik              on the Decisions of the President of the Republic of
   Indonesia No. 26 tahun 1998 dan Keputusan                     Indonesia No. 26 year 1998 and No. 27 year 1998
   Presiden Republik Indonesia No. 27 tahun 1998,                would be handled by the Ministry of Finance,
   selanjutnya dilaksanakan oleh Menteri Keuangan                specifically by the Government Guarantee
   melalui Unit Pelaksanaan Penjaminan Pemerintah                Implementation Unit Pelaksanaan Penjaminan
   (UP3) sebagaimana diatur oleh Keputusan Presiden              Pemerintah (UP3) as provided in the Decision of the
   Republik Indonesia No. 17 tahun 2004, yang diatur             President of the Republic of Indonesia No. 17 year
   lebih lanjut dengan Keputusan Menteri Keuangan                2004, which was further regulated by the Decision
   No. 84/KMK.06/2004 tanggal 27 Februari 2004                   No. 84/KMK.06/2004 dated February 27, 2004 of the
   tentang       Perubahan      atas     Keputusan               Ministry of Finance regarding the Amendment of
   Menteri      Keuangan      Republik    Indonesia              Decision No. 179/KMK.017/2000 of the Ministry of
   No.179/KMK.017/2000 tentang Syarat, Tata cara                 Finance on the Terms, Implementation Guidelines,
   dan Ketentuan Pelaksanaan Jaminan Pemerintah                  and Conditions of the Government Guarantees on
   terhadap Kewajiban Pembayaran Bank Umum.                      the obligations of commercial banks.

   Program Penjaminan Pemerintah melalui UP3 telah               The Guarantee Program by the Government through
   berakhir pada tanggal 22 September 2005,                      UP3 ended on September 22, 2005, as stated in
   sebagaimana dinyatakan dalam Peraturan Menteri                Regulation No. 68/PMK.05/2005 dated August 10,
   Keuangan Republik Indonesia No. 68/PMK.05/2005                2005 of the Ministry of Finance concerning the
   tanggal 10 Agustus 2005 tentang Perhitungan Dan               Calculation and Payments of Premium on
   Pembayaran Premi Program Penjaminan Terhadap                  Guarantee Program from Commercial Banks for the
   Pembayaran       Bank   Umum      untuk  periode              period July 1 to September 21, 2005. The
   1 Juli sampai 21 September 2005. Sebagai                      Government established the Deposit Insurance
   pengganti UP3 Pemerintah telah membentuk                      Corporation (LPS), an independent agency, to
   Lembaga Independen, yaitu Lembaga Penjamin                    replace UP3, based on Law No. 24 year 2004 dated
   Simpanan (LPS) berdasarkan Undang-undang                      September 22, 2004 of the Republic of Indonesia
   Republik Indonesia No. 24 tahun 2004 tanggal                  regarding the establishment Deposit Insurance
   22 September 2004 tentang Lembaga Penjamin                    Corporation (LPS) to guarantee public funds
   Simpanan dimana LPS menjamin dana masyarakat                  including funds from other banks in the form of
   termasuk dana dari bank lain dalam bentuk giro,               demand deposits, time deposits, certificates of
   deposito, sertifikat deposito, tabungan dan/atau              deposit, savings deposits and/or other equivalent
   bentuk lainnya yang dipersamakan dengan itu.                  form.

   Berdasarkan       salinan      Peraturan      LPS             Based on LPS regulation No. 1/PLPS/2006 dated
   No. 1/PLPS/2006 tanggal 9 Maret 2006 tentang                  March 9, 2006 regarding “Government Guarantee
   “Program Penjaminan Simpanan” diatur besarnya                 Program on Saving Account”, the balance of saving
   saldo yang dijamin untuk setiap nasabah pada satu             accounts guaranteed for each customer is at a
   bank adalah paling tinggi sebesar Rp100 juta.                 maximum of Rp100 million.

   Sesuai dengan Peraturan Pemerintah No. 66 Tahun               In accordance with Government Regulation No. 66
   2008 tanggal 13 Oktober 2008 tentang “Besaran                 of 2008, dated October 13, 2008 regarding “The
   Nilai Simpanan yang Dijamin Lembaga Penjamin                  Amount of Public Savings Guaranteed by the
   Simpanan” maka nilai simpanan setiap nasabah                  Indonesia Deposit Insurance Corporation”, the total
   pada satu bank yang dijamin oleh Pemerintah naik              amount of customers’ saving accounts in banks
   menjadi sebesar Rp2 miliar dari semula Rp100 juta,            which is guaranteed by the Government has
   efektif sejak tanggal tersebut di atas.                       increased to Rp2 billion, from the previous Rp100
                                                                 million, effective on the date stated above.




                                                        223
Page 620
                                                                        The original financial statements included herein are in the
                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                        NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                         As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                   and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                      (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                             unless otherwise stated)


42. JAMINAN              PEMERINTAH          TERHADAP               42. GOVERNMENT             GUARANTEES ON  THE
    KEWAJIBAN           PEMBAYARAN         BANK UMUM                    OBLIGATIONS           OF COMMERCIAL BANKS
    (lanjutan)                                                          (continued)

   Suku bunga penjaminan LPS pada tanggal                                LPS interest rates guarantee as of December 31,
   31 Desember 2023 dan 2022 masing-masing                               2023 and 2022 were 4.25% and 3.75% for each
   adalah sebesar 4,25% dan 3,75% untuk simpanan                         deposits in Rupiah and 2.25% and 1.75% for
   dalam mata uang Rupiah, dan masing-masing                             deposits in foreign currencies.
   sebesar 2,25% dan 1,75% untuk simpanan dalam
   mata uang asing.

   Pada tanggal 31 Desember 2023 dan 2022, Bank                          The Bank paid a premium on the guarantee program
   telah membayar premi program penjaminan masing-                       amounting to Rp656,774 and Rp599,991 as of
   masing sebesar Rp656.774 dan Rp599.991.                               December 31, 2023 and 2022, respectively.


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                           43. TRANSACTIONS WITH RELATED PARTIES

   Dalam kegiatan normal usaha, Bank melakukan                           In the normal course of business, the Bank enters
   transaksi dengan pihak berelasi karena hubungan                       into certain transactions with parties which are
   kepemilikan dan/atau kepengurusan. Semua                              related to the management and/or owned by the
   transaksi dengan pihak-pihak berelasi telah                           same ultimate shareholder. All transactions with
   dilakukan dengan kebijakan dan syarat yang telah                      related parties have been entered into the agreed
   disepakati bersama.                                                   terms and conditions.

   Tabel di bawah menunjukkan rincian pihak-pihak                        The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                     Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                          into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022:                                            2022:

          Pihak-pihak berelasi/                       Jenis hubungan/                        Unsur transaksi pihak berelasi/
             Related parties                         Type of relationship                  Nature of related party transactions

  Pemerintah Republik Indonesia (RI)            Pemegang saham mayoritas melalui         Obligasi Pemerintah, Kredit yang diberikan dan
                                                Kementerian Keuangan RI/ Majority          pembiayaan/piutang syariah/ Government
                                                 shareholder through the Ministry of     Bonds, Loans and sharia financing/receivables
                                                Finance of the Republic of Indonesia

  PT Bank Mandiri (Persero) Tbk                  Dalam pengendalian yang sama             Giro pada bank lain, Penempatan pada Bank
                                                melalui pemerintah pusat RI/ Under             Indonesia dan Bank Lain, Efek-efek,
                                                common control through the Central         Liabilitas Akseptasi, Pinjaman yang diterima
                                                  Government of the Republic of           dan Surat Berharga yang Diterbitkan/Current
                                                            Indonesia                    accounts with other banks, Placement with Bank
                                                                                             Indonesia and Other Banks, Securities,
                                                                                           Acceptances Payable, Fund Borrowing and
                                                                                                         Securities issued

  PT Bank Negara Indonesia (Persero) Tbk         Dalam pengendalian yang sama             Giro pada bank lain, Penempatan pada Bank
                                                melalui pemerintah pusat RI/ Under         Indonesia dan Bank Lain, Efek-efek, Surat
                                                common control through the Central       Berharga yang Diterbitkan, Liabilitas Akseptasi/
                                                  Government of the Republic of          Current accounts with other banks, Placement
                                                            Indonesia                        with Bank Indonesia and Other Banks,
                                                                                         Securities and Securities issued, Acceptances
                                                                                                            Payable

  PT Bank Rakyat Indonesia (Persero) Tbk         Dalam pengendalian yang sama             Giro pada bank lain, Penempatan pada Bank
                                                melalui pemerintah pusat RI/ Under       Indonesia dan Bank Lain, Efek-efek, dan Surat
                                                common control through the Central        Berharga yang Diterbitkan/ Current accounts
                                                  Government of the Republic of              with other banks, Placement with Bank
                                                            Indonesia                      Indonesia and Other Banks, Securities and
                                                                                                        Securities issued




                                                          224
Page 621
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                       43. TRANSACTIONS             WITH      RELATED         PARTIES
    (lanjutan)                                                      (continued)

   Tabel di bawah menunjukkan rincian pihak-pihak                    The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                 Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                      into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022 (lanjutan):                             2022 (continued):

          Pihak-pihak berelasi/                    Jenis hubungan/                       Unsur transaksi pihak berelasi/
             Related parties                      Type of relationship                 Nature of related party transactions

  PT Bank Syariah Indonesia Tbk               Dalam pengendalian yang sama            Giro pada bank lain, dan Penempatan pada
                                            melalui pemerintah pusat RI/ Under          Bank Indonesia dan Bank Lain/ Current
                                            common control through the Central       accounts with other banks, and Placement with
                                              Government of the Republic of                Bank Indonesia and Other Banks
                                                        Indonesia

  PT Bank Mandiri Taspen                    Entitas Anak dari Badan Usaha Milik       Penempatan pada Bank Indonesia dan Bank
                                            Negara (BUMN)/ Subsidiary of State       Lain, Efek-efek/Placement with Bank Indonesia
                                                  Owned Enterprise (SOE)                     and Other Banks and Securities


  PT Bank Raya Tbk (dahulu PT Bank Rakyat   Entitas Anak dari Badan Usaha Milik       Penempatan pada Bank Indonesia dan Bank
      Indonesia Agroniaga Tbk)              Negara (BUMN)/ Subsidiary of State          Lain, Simpanan dari Bank Lain dan Surat
                                                  Owned Enterprise (SOE)               Berharga yang Diterbitkan/ Placement with
                                                                                     Bank Indonesia and Other Banks, Deposits from
                                                                                             Other Banks, Securities issued

  Lembaga Pembiayaan Ekspor Indonesia        Dalam pengendalian yang sama             Penempatan pada Bank Indonesia dan Bank
                                            melalui pemerintah pusat RI/ Under       Lain, Efek-efek/Placement with Bank Indonesia
                                            common control through the Central                 and Other Banks, Securities
                                              Government of the Republic of
                                                        Indonesia

  PT Hutama Karya (Persero)                   Dalam pengendalian yang sama            Kredit yang diberikan dan pembiayaan/piutang
                                             melalui pemerintah pusat RI/ Under        syariah, Tagihan Akseptasi/Loans and sharia
                                             common control through the Central       financing/receivables, Acceptance Receivable
                                               Government of the Republic of
                                                         Indonesia

  Perum Perumnas                             Dalam pengendalian yang sama               Efek-efek, dan Kredit yang diberikan dan
                                            melalui pemerintah pusat RI/ Under         pembiayaan/piutang syariah/Securities, and
                                            common control through the Central           Loans and sharia financing/receivables
                                              Government of the Republic of
                                                        Indonesia

  PT PP Properti Tbk                        Entitas Anak dari Badan Usaha Milik        Tagihan Akseptasi dan Kredit yang diberikan
                                            Negara (BUMN)/ Subsidiary of State        dan pembiayaan/piutang syariah/Acceptances
                                                  Owned Enterprise (SOE)                    Receivable and Loans and sharia
                                                                                                 financing/receivables

  PT Wijaya Karya Bangunan Gedung Tbk       Entitas Anak dari Badan Usaha Milik            Tagihan Akseptasi dan Garansi yang
                                            Negara (BUMN)/ Subsidiary of State           diterbitkan/Acceptances Receivable and
                                                  Owned Enterprise (SOE)                            Guarantees issued

  PT Wijaya Karya Industri Energi           Entitas Anak dari Badan Usaha Milik        Tagihan Akseptasi/Acceptances Receivable
                                            Negara (BUMN)/ Subsidiary of State
                                                  Owned Enterprise (SOE)




                                                       225
Page 622
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                       43. TRANSACTIONS             WITH      RELATED           PARTIES
    (lanjutan)                                                      (continued)

   Tabel di bawah menunjukkan rincian pihak-pihak                    The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                 Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                      into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022 (lanjutan):                             2022 (continued):

          Pihak-pihak berelasi/                    Jenis hubungan/                       Unsur transaksi pihak berelasi/
             Related parties                      Type of relationship                 Nature of related party transactions

  PT Wijaya Karya Industri & Konstruksi      Entitas Anak dari Badan Usaha Milik       Tagihan Akseptasi/Acceptances Receivable
                                             Negara (BUMN)/ Subsidiary of State
                                                   Owned Enterprise (SOE)

  Perum Percetakan Negara Republik            Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
  Indonesia (Perum PNRI)                     melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                             common control through the Central
                                               Government of the Republic of
                                                         Indonesia

  PT Danareksa Investment Management         Entitas Anak dari Badan Usaha Milik           Efek-Efek dan Surat Berharga yang
                                             Negara (BUMN)/ Subsidiary of State        Diterbitkan/Securities and Securities Issued
                                                   Owned Enterprise (SOE)

  PT Adhi Karya (Persero) Tbk                 Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                             melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                             common control through the Central
                                               Government of the Republic of
                                                         Indonesia

  PT Angkasa Pura II (Persero)                Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                             melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                             common control through the Central
                                               Government of the Republic of
                                                         Indonesia

  PT Dok Dan Perkapalan Surabaya (Persero)    Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                             melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                             common control through the Central
                                               Government of the Republic of
                                                         Indonesia

  PT HK Realtindo                            Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                             Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                   Owned Enterprise (SOE)

  PT Indah Karya (Persero)                    Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                             melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                             common control through the Central
                                               Government of the Republic of
                                                         Indonesia

  PT Jasamarga Bali Tol                      Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                             Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                   Owned Enterprise (SOE)

  PT Mandiri Manajemen Investasi             Entitas Anak dari Badan Usaha Milik           Efek-Efek dan Surat Berharga yang
                                             Negara (BUMN)/ Subsidiary of State        Diterbitkan/Securities and Securities issued
                                                   Owned Enterprise (SOE)

  PT Patra Jasa                              Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                             Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                   Owned Enterprise (SOE)




                                                       226
Page 623
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                      43. TRANSACTIONS            WITH       RELATED          PARTIES
    (lanjutan)                                                     (continued)

   Tabel di bawah menunjukkan rincian pihak-pihak                   The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                     into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022 (lanjutan):                            2022 (continued):

          Pihak-pihak berelasi/                   Jenis hubungan/                       Unsur transaksi pihak berelasi/
             Related parties                     Type of relationship                 Nature of related party transactions

  PT Permodalan Nasional Madani             Entitas Anak dari Badan Usaha Milik         Efek-Efek, Kredit yang diberikan dan
                                            Negara (BUMN)/ Subsidiary of State       pembiayaan/piutang syariah/Securities, Loans
                                                  Owned Enterprise (SOE)                   and sharia financing/receivables

  PT Amarta Karya (Persero)                  Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                            melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                            common control through the Central
                                              Government of the Republic of
                                                        Indonesia

  PT Perusahaan Pengelola Aset (Persero)     Dalam pengendalian yang sama              Efek-Efek dan Kredit yang diberikan dan
                                            melalui pemerintah pusat RI/ Under        pembiayaan/piutang syariah/Securities and
                                            common control through the Central          Loans and sharia financing/receivables
                                              Government of the Republic of
                                                        Indonesia


  PT Taspen (Persero)                        Dalam pengendalian yang sama             Surat Berharga yang Diterbitkan/ Securities
                                            melalui pemerintah pusat RI/ Under                         issued
                                            common control through the Central
                                              Government of the Republic of
                                                        Indonesia

  PT Virama Karya (Persero)                  Dalam pengendalian yang sama            Kredit yang diberikan dan pembiayaan/piutang
                                            melalui pemerintah pusat RI/ Under      syariah dan Garansi yang diterbitkan/Loans and
                                            common control through the Central        sharia finacing/receivables and Guarantees
                                              Government of the Republic of                              issued
                                                        Indonesia

  PT Waskita Bumi Wira                      Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)

  PT Waskita Karya Realty                   Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      Syariah/ Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)

  PT PPA Finance                            Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)

  PT Waskita FIM Perkasa Realti             Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)

  PT Pertamina (persero)                     Dalam pengendalian yang sama          Kredit yang diberikan dan pembiayaan/piutang
                                            melalui pemerintah pusat RI/ Under        syariah dan efek-efek/ Loans and sharia
                                            common control through the Central          financing/receivables and Securities
                                              Government of the Republic of
                                                        Indonesia




                                                       227
Page 624
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                      43. TRANSACTIONS               WITH        RELATED             PARTIES
    (lanjutan)                                                     (continued)

   Tabel di bawah menunjukkan rincian pihak-pihak                   The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                     into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022 (lanjutan):                            2022 (continued):

           Pihak-pihak berelasi/                  Jenis hubungan/                       Unsur transaksi pihak berelasi/
              Related parties                    Type of relationship                 Nature of related party transactions

  PT Yodya Karya (Persero)                   Dalam pengendalian yang sama            Kredit yang diberikan dan pembiayaan/piutang
                                            melalui pemerintah pusat RI/ Under      syariah dan Garansi yang diterbitkan/Loans and
                                            common control through the Central        sharia financing/receivables and Guarantees
                                              Government of the Republic of                               issued
                                                        Indonesia

  PT Adhi Persada Properti                  Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)



  PT Perumnas Jakabaring                    Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)



  PT Perumnas Sentraland                    Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprice (SOE)



  PT Perumnas TOD Tanjung                   Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)



  PT Sinergi Investasi Properti             Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)


  PT Perumnas Pondok Cina                   Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)




  PT Adhi Commuter Properti                 Entitas Anak dari Badan Usaha Milik      Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State         syariah dan Tagihan Lain-Lain/Loans and
                                                  Owned Enterprise (SOE)                 sharia financing/receivables and Other
                                                                                                       receivables

  PT Angkasa Pura I (Persero)                Dalam pengendalian yang sama            Kredit yang diberikan dan pembiayaan/piutang
                                            melalui pemerintah pusat RI/ Under          syariah dan efek-efek/Loans and sharia
                                            common control through the Central            financing/receivables and securities
                                              Government of the Republic of                       Efek-efek/Securities
                                                        Indonesia                      Penyisihan kerugian penurunan nilai aset
                                                                                     keuangan dan aset non keuangan/Provision for
                                                                                    impairment losses on financial and non-financial
                                                                                                         assets

  PT Jalin Pembayaran Nusantara             Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)




                                                       228
Page 625
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                       43. TRANSACTIONS             WITH      RELATED            PARTIES
    (lanjutan)                                                      (continued)

   Tabel di bawah menunjukkan rincian pihak-pihak                    The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                 Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                      into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022 (lanjutan):                             2022 (continued):

          Pihak-pihak berelasi/                    Jenis hubungan/                       Unsur transaksi pihak berelasi/
             Related parties                      Type of relationship                 Nature of related party transactions
  PT Reasuransi Nasional Indonesia          Entitas Anak dari Badan Usaha Milik             Surat Berharga yang Diterbitkan /
                                            Negara (BUMN)/ Subsidiary of State                      Securities issued
                                                  Owned Enterprise (SOE)

  PT Tugu Reasuransi Indonesia              Entitas Anak dari Badan Usaha Milik             Surat Berharga yang Diterbitkan/
                                            Negara (BUMN)/ Subsidiary of State                     Securities issued
                                                  Owned Enterprise (SOE)

  PT Puspetindo                             Entitas Anak dari Badan Usaha Milik      Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State       syariah/Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)


 PT Asuransi Kredit Indonesia               Entitas Anak dari Badan Usaha Milik       Surat Berharga yang Diterbitkan dan Garansi
                                            Negara (BUMN)/ Subsidiary of State           yang diterbitkan/Securities Issued and
                                                  Owned Enterprise (SOE)                           Guarantees issued

  PT Asuransi Jasa Indonesia                 Entitas Anak dari Badan Usaha Milik       Surat Berharga yang Diterbitkan/ Securities
                                             Negara (BUMN)/ Subsidiary of State                         issued
                                                   Owned Enterprise (SOE)

  PT Asuransi Jasa Raharja                   Entitas Anak dari Badan Usaha Milik       Surat Berharga yang Diterbitkan/ Securities
                                             Negara (BUMN)/ Subsidiary of State                         issued
                                                   Owned Enterprise (SOE)

  PT Perusahaan Listrik Negara (Persero)     Dalam pengendalian yang sama            Kredit yang diberikan dan Efek-efek/ Loans and
                                            melalui pemerintah pusat RI/ Under         sharia financing/receivables and Securities
                                            common control through the Central
                                              Government of the Republic of
                                                        Indonesia

  PT Nindya Karya (Persero)                  Entitas Anak dari Badan Usaha Milik         Kredit yang diberikan dan Garansi yang
                                             Negara (BUMN)/ Subsidiary of State                diterbitkan/Loans and sharia
                                                   Owned Enterprise (SOE)             financing/receivables and Guarantees issued

  PT Centurion Perkasa Iman                 Entitas Anak dari Badan Usaha Milik          Kredit yang diberikan dan Garansi yang
                                            Negara (BUMN)/ Subsidiary of State                 diterbitkan/Loans and sharia
                                                  Owned Enterprise (SOE)              financing/receivables and Guarantees issued

  PT Energi Pelabuhan Indonesia             Entitas Anak dari Badan Usaha Milik                 Garansi yang diterbitkan/
                                            Negara (BUMN)/ Subsidiary of State                    Guarantees issued
                                                  Owned Enterprise (SOE)

  Perum Jaminan Kredit Indonesia             Dalam pengendalian yang sama              Surat Berharga yang Diterbitkan/ Securities
                                            melalui pemerintah pusat RI/ Under                          issued
                                            common control through the Central
                                              Government of the Republic of
                                                        Indonesia

  PT Daya Mitra Telekomunikasi              Entitas Anak dari Badan Usaha Milik                   Efek-efek/ Securities
                                            Negara (BUMN)/ Subsidiary of State
                                                  Owned Enterprise (SOE)

  PT Industri Kereta Api                    Entitas Anak dari Badan Usaha Milik      Kredit yang diberikan dan pembiayaan/piutang
                                            Negara (BUMN)/ Subsidiary of State       Syariah /Loans and sharia financing/receivables
                                                  Owned Enterprise (SOE)




                                                       229
Page 626
                                                                            The original financial statements included herein are in the
                                                                                                                  Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                     PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                            NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                             As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                       and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                          (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                 unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                               43. TRANSACTIONS              WITH         RELATED             PARTIES
    (lanjutan)                                                              (continued)

   Tabel di bawah menunjukkan rincian pihak-pihak                            The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                         Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                              into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022 (lanjutan):                                     2022 (continued):

          Pihak-pihak berelasi/                            Jenis hubungan/                       Unsur transaksi pihak berelasi/
             Related parties                              Type of relationship                 Nature of related party transactions
  PT AXA Mandiri Financial Services                 Entitas Anak dari Badan Usaha Milik        Surat Berharga yang Diterbitkan/ Securities
                                                    Negara (BUMN)/ Subsidiary of State                          issued
                                                          Owned Enterprise (SOE)

  PT Penjaminan Infrastruktur Indonesia (Persero)     Dalam pengendalian yang sama             Surat Berharga yang Diterbitkan/ Securities
                                                     melalui pemerintah pusat RI/ Under                         issued
                                                     common control through the Central
                                                       Government of the Republic of
                                                                 Indonesia

  PT Reasuransi Indonesia Utama (Persero)             Dalam pengendalian yang sama                  Surat Berharga yang Diterbitkan/
                                                     melalui pemerintah pusat RI/ Under                    Securities issued
                                                     common control through the Central
                                                       Government of the Republic of
                                                                 Indonesia

  PT Tugu Pratama Indonesia                          Entitas Anak dari Badan Usaha Milik       Surat Berharga yang Diterbitkan/ Securities
                                                     Negara (BUMN)/ Subsidiary of State                         issued
                                                           Owned Enterprise (SOE)

  PT Sarana Multigriya Finance (Persero)              Dalam pengendalian yang sama              Efek - Efek, Pinjaman yang diterima dan
                                                     melalui pemerintah pusat RI/ Under           Pinjaman Subordinasi dan efek-efek
                                                     common control through the Central       subordinasi/ Securities, Fund borrowings and
                                                       Government of the Republic of               Subordinated Loan and securities
                                                                 Indonesia

  PT Sinergi Colomadu                               Entitas Anak dari Badan Usaha Milik      Kredit yang diberikan dan pembiayaan/piutang
                                                    Negara (BUMN)/ Subsidiary of State       syariah/Loans and sharia financing/receivables
                                                          Owned Enterprise (SOE)


  PT Perusahaan Gas Negara (Persero) Tbk              Dalam pengendalian yang sama                        Efek-Efek/Securities
                                                     melalui pemerintah pusat RI/ Under
                                                     common control through the Central
                                                       Government of the Republic of
                                                                 Indonesia


  PT Pelabuhan Indonesia II (Persero)                 Dalam pengendalian yang sama                       Efek - Efek/Securities
                                                     melalui pemerintah pusat RI/ Under
                                                     common control through the Central
                                                       Government of the Republic of
                                                                 Indonesia

  PT PP Properti Jababeka Residence                 Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                                    Negara (BUMN)/ Subsidiary of State      syariah/Loans and sharia financing/receivables
                                                          Owned Enterprise (SOE)

  PT Bahana Pembinaan Usaha Indonesia (Persero)       Dalam pengendalian yang sama                       Efek - Efek/Securities
                                                     melalui pemerintah pusat RI/ Under          Pendapatan dari penerimaan kredit yang
                                                     common control through the Central      dihapus bukukan/Income from recovery of loans
                                                       Government of the Republic of                           written off
                                                                 Indonesia




                                                               230
Page 627
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                         43. TRANSACTIONS             WITH      RELATED            PARTIES
    (lanjutan)                                                        (continued)
   Tabel di bawah menunjukkan rincian pihak-pihak                      The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                   Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                        into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022 (lanjutan):                               2022 (continued):

          Pihak-pihak berelasi/                      Jenis hubungan/                       Unsur transaksi pihak berelasi/
             Related parties                        Type of relationship                 Nature of related party transactions

  PT Pegadaian                                Entitas Anak dari Badan Usaha Milik                   Efek-Efek/Securities
                                              Negara (BUMN)/ Subsidiary of State
                                                    Owned Enterprise (SOE)

  PT BNI Asset Management                     Entitas Anak dari Badan Usaha Milik      Surat Berharga yang Diterbitkan dan efek-efek/
                                              Negara (BUMN)/ Subsidiary of State              Securities issued and securities
                                                    Owned Enterprise (SOE)

  PT Waskita Karya (Persero) Tbk               Dalam pengendalian yang sama                         Efek-efek/ Securities
                                              melalui pemerintah pusat RI/ Under
                                              common control through the Central
                                                Government of the Republic of
                                                          Indonesia

  Peruri Properti                             Entitas Anak dari Badan Usaha Milik       Kredit yang diberikan dan pembiayaan/piutang
                                              Negara (BUMN)/ Subsidiary of State       syariah dan Garansi yang diterbitkan/Loans and
                                                    Owned Enterprise (SOE)                      sharia financing/receivables and
                                                                                                       Guarantees issued

  PT Waskita Beton Precast Tbk                Entitas Anak dari Badan Usaha Milik                   Efek-efek/ Securities
                                              Negara (BUMN)/ Subsidiary of State
                                                    Owned Enterprise (SOE)


  PT BRI Manajemen Investasi                  Entitas Anak dari Badan Usaha Milik                   Efek-efek/ Securities
                                              Negara (BUMN)/ Subsidiary of State
                                                    Owned Enterprise (SOE)

  PT Pos Indonesia (Persero)                  Entitas Anak dari Badan Usaha Milik                 Garansi yang diterbitkan/
                                              Negara (BUMN)/ Subsidiary of State                    Guarantees issued
                                                    Owned Enterprise (SOE)



  PT Telkom Satelit Indonesia                 Entitas Anak dari Badan Usaha Milik                 Garansi yang diterbitkan/
                                              Negara (BUMN)/ Subsidiary of State                    Guarantees issued
                                                    Owned Enterprise (SOE)




  PT Inhutani V                               Entitas Anak dari Badan Usaha Milik      Kredit yang diberikan dan pembiayaan/piutang
                                              Negara (BUMN)/ Subsidiary of State       syariah/Loans and sharia financing/receivables
                                                    Owned Enterprise (SOE)




  Badan Pengelola Tabungan Perumahan Rakyat    Dalam pengendalian yang sama                Pinjaman dan Efek-Efek Subordinasi/
                                              melalui pemerintah pusat RI/ Under            Subordinated Loan and Securities
                                              common control through the Central
                                                Government of the Republic of
                                                          Indonesia




                                                        231
Page 628
                                                                              The original financial statements included herein are in the
                                                                                                                    Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                      PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                             NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                              As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                        and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                           (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                  unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                                 43. TRANSACTIONS             WITH      RELATED            PARTIES
    (lanjutan)                                                                (continued)
   Tabel di bawah menunjukkan rincian pihak-pihak                              The table below details the related parties of the
   berelasi dengan Bank beserta sifat dari transaksi                           Bank along with the nature of transactions entered
   yang dilakukan oleh Bank tersebut pada tahun                                into by the Bank during December 31, 2023 and
   31 Desember 2023 dan 2022 (lanjutan):                                       2022 (continued):

          Pihak-pihak berelasi/                              Jenis hubungan/                       Unsur transaksi pihak berelasi/
             Related parties                                Type of relationship                 Nature of related party transactions
  PT PP Urban                                         Entitas Anak dari Badan Usaha Milik        Garansi yang diterbitkan, Tagihan lain-lain,
                                                      Negara (BUMN)/ Subsidiary of State       Kredit yang diberikan dan pembiayaan/piutang
                                                            Owned Enterprise (SOE)             syariah / Guarantees issued, Other receivables,
                                                                                                   Loans and sharia financing/receivables


  PT Aviasi Pariwisata Indonesia (Persero)             Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                                      melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                                      common control through the Central
                                                        Government of the Republic of
                                                                  Indonesia

  PT Bio Farma (Persero)                               Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                                      melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                                      common control through the Central
                                                        Government of the Republic of
                                                                  Indonesia

  PT Inka Multi Solusi Service                        Entitas Anak dari Badan Usaha Milik     Kredit yang diberikan dan pembiayaan/piutang
                                                      Negara (BUMN)/ Subsidiary of State      Syariah dan Tagihan lain-lain/Loans and sharia
                                                            Owned Enterprise (SOE)             financing/receivables and Other receivables


  PT PAL Indonesia (Persero)                           Dalam pengendalian yang sama            Kredit yang diberikan dan pembiayaan/piutang
                                                      melalui pemerintah pusat RI/ Under      syariah dan Garansi yang diterbitkan/Loans and
                                                      common control through the Central               sharia financing/receivables and
                                                        Government of the Republic of                         Guarantees issued
                                                                  Indonesia

  PT Pengembangan Pariwisata Indonesia (Persero)       Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                                      melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                                      common control through the Central
                                                        Government of the Republic of
                                                                  Indonesia

  Perum Pengangkutan Penumpang Djakarta                Dalam pengendalian yang sama           Kredit yang diberikan dan pembiayaan/piutang
                                                      melalui pemerintah pusat RI/ Under      syariah/Loans and sharia financing/receivables
                                                      common control through the Central
                                                        Government of the Republic of
                                                                  Indonesia

  PT Wika Realty                                      Entitas Anak dari Badan Usaha Milik      Kredit yang diberikan dan pembiayaan/piutang
                                                      Negara (BUMN)/ Subsidiary of State       syariah/Loans and sharia financing/receivables
                                                            Owned Enterprise (SOE)

  PT Wika Gedung                                      Entitas Anak dari Badan Usaha Milik            Tagihan lain-lain/Other receivables
                                                      Negara (BUMN)/ Subsidiary of State
                                                            Owned Enterprise (SOE)

  PT Bahana TCW Investment Management                 Entitas Anak dari Badan Usaha Milik                    Efek-efek/Securities
                                                      Negara (BUMN)/ Subsidiary of State
                                                            Owned Enterprise (SOE)

  Manajemen Kunci termasuk Direksi, Komisaris,                                                 Kredit yang Diberikan dan Pembiayaan/piutang
  Komite Audit, Kepala Divisi dan Kepala Cabang/Key     Hubungan pengendalian kegiatan           Syariah, Simpanan dari Nasabah, dan Dana
  Management including Director, Commissioner,         perusahaan/ Control on company’s              Syirkah Temporer/Loans and sharia
  Audit Comittee, Head Division and Branch Manager                 activities                  financing/receivables, Deposit from Customers
                                                                                                        and Temporary Syirkah Fund




                                                                232
Page 629
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                         43. TRANSACTIONS           WITH      RELATED        PARTIES
    (lanjutan)                                                        (continued)

  a.     Transaksi dengan pihak berelasi karena                        a.   Transactions with related parties due to
         hubungan kepemilikan dengan pemerintah                             ownership relation with government of the
         Republik Indonesia:                                                Republic of Indonesia:
                                             31 Desember/         31 Desember/
                                          December 31, 2023    December 31, 2022

  Aset                                                                                                                  Assets
                                                                                                        Current accounts with
  Giro pada bank lain (Catatan 6)                 1.049.449             508.322                        other banks (Note 6)
  Penempatan pada Bank Indonesia                                                              Placements with Bank Indonesia
    dan bank lain (Catatan 7)                           61                   61                    and other banks (Note 7)
  Efek-efek (Catatan 8)                          3.851.105              850.059                            Securities (Note 8)
  Obligasi pemerintah (Catatan 9)               35.893.929           51.964.973                   Government bonds (Note 9)
  Kredit yang diberikan dan
    pembiayaan/piutang syariah                                                                    Loans and sharia financing/
    (Catatan 11)                                27.678.581           19.594.018                       receivables (Note 11)
  Tagihan akseptasi (Catatan 13)                    68.746              131.356             Acceptance receivable (Note 13)
  Tagihan lain-lain                                106.385               61.169                            Other Receivables

  Total aset untuk pihak-pihak berelasi         68.648.256           73.109.958                Total assets to related parties

  Cadangan kerugian penurunan                                                                 Allowance for impairment losses
    nilai dari pihak-pihak berelasi             (1.227.528)            (900.235)                          for related parties

  Total dari aset pihak-pihak berelasi                                                      Total assets from related parties
    - neto                                      67.420.728           72.209.723                                       - net

  Persentase total aset pihak                                                                Percentage of total assets from
    berelasi terhadap total aset                    15,37%              17,96%               related parties to total assets



                                             31 Desember/         31 Desember/
                                          December 31, 2023    December 31, 2022

  Liabilitas                                                                                                         Liabilities
  Simpanan dari nasabah                                                                              Deposits from customers
     (Catatan 18, 19 dan 20)                   196.674.002          173.906.896                       (Notes 18, 19 and 20)
  Liabilitas Akseptasi (Catatan 22)                224.045              118.525                  Acceptance payable (Note 22)
  Surat-surat berharga
     yang diterbitkan (Catatan 23)               5.868.525            4.355.008                    Securities issued (Note 23)
  Pinjaman yang diterima (Catatan 24)           22.453.290           17.455.685                     Fund borrowings (Note 24)
  Pinjaman Subordinasi dan                                                                                  Subordinated loan
     efek-efek subordinasi (Catatan 25)           4.499.997           4.499.977                    and securities (Note 25)

  Total liabilitas untuk pihak-
    pihak berelasi                              229.719.859          200.336.091            Total liabilities to related parties

  Persentase total liabilitas pihak                                                       Percentage of total liabilities from
    berelasi terhadap total liabilitas              60,27%              57,01%            related parties to total liabilities




                                                         233
Page 630
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                       43. TRANSACTIONS           WITH      RELATED        PARTIES
    (lanjutan)                                                      (continued)

   a.   Transaksi dengan pihak berelasi karena                       a.   Transactions with related parties due to
        hubungan kepemilikan dengan pemerintah                            ownership relation with government of the
        Republik Indonesia (lanjutan):                                    Republic of Indonesia (continued):

                                           31 Desember/        31 Desember/
                                         December 31, 2023   December 31, 2022
  Dana Syirkah Temporer                                                                          Temporary Syirkah Funds
  Giro Mudharabah (Catatan 18)                     11.271              11.897        Mudharabah current accounts (Note 18)
  Tabungan Mudharabah (Catatan 19)                133.630              83.465        Mudharabah savings deposits (Note 19)
  Deposito Mudharabah (Catatan 20)              8.899.072           7.631.970          Mudharabah time deposits (Note 20)

  Total dana syirkah temporer                                                                       Total temporary syirkah
    untuk pihak-pihak berelasi                  9.043.973           7.727.332                      funds to related parties

  Persentase total dana syirkah                                                     Percentage of total temporary syirkah
    temporer berelasi terhadap                                                             funds related parties to total
    dana syirkah temporer                          33,37%             31,08%                  temporary syirkah funds


                                           31 Desember/        31 Desember/
                                         December 31, 2023   December 31, 2022
  Pendapatan bunga dan                                                                         Interest income and income
    bagi hasil                                                                                        from profit sharing

  Penempatan pada Bank Indonesia                                                            Placements with Bank Indonesia
    dan bank lain                                 490.024             282.311                            and other banks
  Efek-efek                                       299.741             216.020                                     Securities
  Obligasi pemerintah                           1.220.648           1.518.936                           Government bonds
  Kredit yang diberikan dan                                                                      Loans and sharia financing/
    pembiayaan/piutang syariah                  1.195.910           1.081.237                                receivables
  Total pendapatan bunga dan                                                             Total interest income and income
    bagi hasil dari pihak-pihak                                                                  from profit sharing from
    berelasi                                    3.206.323           3.098.504                              related parties

  Persentase terhadap total                                                                     Percentage to total interest
    pendapatan bunga dan bagi                                                                   income and income from
    hasil                                          11,34%             11,96%                              profit sharing


                                           31 Desember/        31 Desember/
                                         December 31, 2023   December 31, 2022
  Pendapatan dari penerimaan kredit                                                                  Income from recovery of
    yang dihapusbukukan                           374.257                     -                            loans written-off

  Persentase terhadap total pendapatan                                                    Percentage of total income from
    dari penerimaan kredit yang                                                                       recovery of loans
    dihapusbukukan                                 40,06%                     -                              writtern off




                                                       234
Page 631
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                         43. TRANSACTIONS           WITH      RELATED        PARTIES
    (lanjutan)                                                        (continued)

   a.   Transaksi dengan pihak berelasi karena                         a.    Transactions with related parties due to
        hubungan kepemilikan dengan pemerintah                               ownership relation with government of the
        Republik Indonesia (lanjutan):                                       Republic of Indonesia (continued):

                                            31 Desember/         31 Desember/
                                          December 31, 2023    December 31, 2022
  Beban bunga, bagi hasil                                                                             Interest, profit sharing
    dan bonus                                                                                        and bonus expenses

  Simpanan dari nasabah                           3.137.470           2.642.731                       Deposits from customers
  Simpanan dari bank lain                             2.647                 781                      Deposits from other banks
  Surat-surat berharga
    yang diterbitkan                               433.269              455.401                             Securities issued
  Pinjaman yang diterima                           965.111              843.147                             Fund borrowings
  Efek- efek yang dijual                                                                                 Securities sold under
    dengan janji dibeli kembali                     34.593                  4.894                    repurchase agreement
  Pinjaman subordinasi dan                                                                             Subordinated loan and
    efek-efek subordinasi                          381.770              381.760                                    securities
  Giro Mudharabah                                       18                  181                  Mudharabah current accounts
  Tabungan Mudharabah                                1.896                6.521                  Mudharabah savings deposits
  Deposito Mudharabah                              149.498               80.613                    Mudharabah time deposits
  Total beban bunga dan bonus                                                             Total interest and bonus expenses
    dari pihak berelasi                           5.106.272           4.416.029                         from related parties

  Persentase terhadap total                                                                Percentage to total interest, profit
    beban bunga, bagi hasil dan bonus               34,38%              40,48%                sharing and bonus expense


                                             31 Desember/        31 Desember/
                                          December 31, 2023    December 31, 2022

  Penyisihan Kerugian Penurunan Nilai                                                                  Provision for Impairment
    Aset Keuangan dan Aset                                                                           Losses on Financial and
    Non Keuangan                                   803.278                      -                       Non-financial Assets


  Presentase terhadap total penyisihan                                                       Percentage to total provision for
    Kerugian penurunan nilai aset                                                           impairment losses on financial
    Keuangan dan aset non keuangan                  21,33%                      -             and   non-financial assets


                                             31 Desember/        31 Desember/
                                          December 31, 2023    December 31, 2022

  Komitmen dan Kontinjensi pada                                                            Commitments and Contingencies
    Rekening Administratif                                                                    in Administrative Accounts
    (Catatan 27)                                                                                                (Note 27)

    Garansi yang diterbitkan                      1.116.581             426.438                          Guarantees issued
    Irrevocable L/C yang masih berjalan               8.840             115.445                 Outstanding irrevocable LCs

  Total komitmen dan kontinjensi                                                                         Total commitments
    pada rekening administratif                                                                      and contingencies in
    dari pihak berelasi                           1.125.421             541.883                    administrative accounts


  Presentase terhadap total komitmen                                                  Percentage to total commitments and
    dan kontinjensi pada rekening                                                         contingencies in administrative
    administratif                                   41,28%              43,35%                                 accounts




                                                         235
Page 632
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                       43. TRANSACTIONS           WITH      RELATED        PARTIES
    (lanjutan)                                                      (continued)

   b.   Transaksi dengan manajemen kunci (lanjutan)                 b. Transactions with key management personnel
                                                                       (continued)
                                            31 Desember/        31 Desember/
                                          December 31, 2023   December 31, 2022

  Kredit yang diberikan dan piutang/                                                                         Loan and sharia
    pembiayaan syariah (Catatan 11)                94.105             102.781             financing/receivables (Note 11)
  Cadangan kerugian penurunan                                                                Allowance for impairment losses
    nilai dari pihak-pihak berelasi                  (288)               (374)                           for related parties

  Total dari aset pihak-pihak berelasi                                                    Total assets from related parties
    - neto                                         93.817             102.407                                       - net

  Persentase terhadap total aset                    0,02%               0,03%                    Percentage to total assets


                                            31 Desember/        31 Desember/
                                          December 31, 2023   December 31, 2022

  Liabilitas                                                                                                       Liabilities

  Simpanan dari nasabah                                                                             Deposits from customers
     (Catatan 18, 19 dan 20)                      186.924             115.340                      (Notes 18, 19 and 20)
  Liabilitas imbalan kerja                        288.487             268.476                      Employee benefits liability

                                                                                                  Total liabilities from key
  Total liabilitas dari manajemen kunci           475.411             383.816                    management personnel

  Persentase terhadap total liabilitas              0,12%               0,11%                 Percentage to total liabilities


                                            31 Desember/        31 Desember/
                                          December 31, 2023   December 31, 2022

  Dana Syirkah Temporer                                                                          Temporary Syirkah Funds
  Giro Mudharabah (Catatan 18)                      2.203                   -        Mudharabah current accounts (Note 18)
  Tabungan Mudharabah (Catatan 19)                  8.363               4.962        Mudharabah savings deposits (Note 19)
  Deposito Mudharabah (Catatan 20)                  9.297               5.221          Mudharabah time deposits (Note 20)

  Total dana syirkah temporer                                                                       Total temporary syirkah
    untuk pihak-pihak berelasi                     19.863              10.183                     funds to related parties

  Persentase total dana syirkah                                                     Percentage of total temporary syirkah
    temporer berelasi terhadap                                                             funds related parties to total
    dana syirkah temporer                           0,07%               0,04%                 temporary syirkah funds


                                            31 Desember/        31 Desember/
                                          December 31, 2023   December 31, 2022

  Pendapatan bunga dan                                                                         Interest income and income
      bagi hasil                                                                                      from profit sharing
      Kredit yang diberikan dan                                                                Loans and sharia financing/
        pembiayaan/piutang syariah                  6.821               6.929                               receivables

  Persentase terhadap total                                                                     Percentage to total interest
      pendapatan bunga dan bagi                                                                 income and income from
      hasil                                         0,02%               0,03%                             profit sharing




                                                       236
Page 633
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


43. TRANSAKSI DENGAN PIHAK-PIHAK BERELASI                          43. TRANSACTIONS           WITH      RELATED        PARTIES
    (lanjutan)                                                         (continued)

   b.     Transaksi dengan manajemen kunci (lanjutan)                  b.     Transactions with key management personnel
                                                                              (continued)
                                            31 Desember/           31 Desember/
                                          December 31, 2023      December 31, 2022

  Beban bunga, bagi hasil                                                                             Interest, profit sharing
    dan bonus                                                                                         and bonus expenses
      Simpanan dari nasabah                          1.446                    1.564                 Deposits from customers
      Dana Syirkah                                     402                      168               Mudharabah savings deposits
  Total beban bunga,                                                                                      Total interest, profit
    bagi hasil, dan bonus                            1.848                    1.732               sharing and bonus expense


  Persentase terhadap total beban                                                           Percentage to total interest, profit
      bunga, bagi hasil, dan bonus                  0,01%                    0,03%             sharing and bonus expense


                                            31 Desember/           31 Desember/
                                          December 31, 2023      December 31, 2022

  Imbalan jangka pendek:                                                                       Short-term employee benefits:
  Direksi (Catatan 1i)                             161.529                  131.671                 Board of directors (Note 1i)
  Dewan komisaris (Catatan 1i)                      64.480                   51.960           Board of commissioners (Note 1i)
  Karyawan kunci lain                              216.253                  221.825                      Other key employees

  Imbalan pasca kerja:                                                                                Post-employee benefits:
  Karyawan kunci lain                              200.829                  182.874                       Other key employees

  Imbalan jangka Panjang lainnya:                                                                    Other long term benefits:
  Karyawan kunci lain                               87.658                   85.602                       Other key employees
  Total                                            730.749                  673.932                                        Total

  Persentase terhadap total beban                                                                  Percentage to total salaries
    gaji dan tunjangan karyawan                    18,35%                   16,08%                   and employee benefits




44. ASET DAN LIABILITAS MONETER DALAM MATA                         44. ASSETS AND LIABILITIES DENOMINATED IN
    UANG ASING                                                         FOREIGN CURRENCIES

   Posisi Devisa Neto                                                  Net Open Position

   Perhitungan Posisi Devisa Neto (PDN) didasarkan                     The Net Open Position (NOP) is calculated based on
   pada Peraturan Bank Indonesia No. 5/13/PBI/2003                     Bank Indonesia Regulation No. 5/13/PBI/2003
   tanggal 17 Juli 2003 sebagaimana telah diubah                       dated July 17, 2003 which was fourth amended by
   dengan perubahan keempat Peraturan Bank                             Bank Indonesia Regulation No. 17/5/PBI/2015
   Indonesia No. 17/5/PBI/2015 tanggal 29 Mei 2015.                    dated May 29, 2015. Based on this regulation, the
   Berdasarkan peraturan tersebut, Bank diwajibkan                     Bank is required to maintain Net Open Position ratio
   untuk menjaga rasio PDN laporan posisi keuangan                     of the overall statement of financial position at a
   dan secara keseluruhan maksimum 20% dari jumlah                     maximum of 20% of the total capital. The NOP is the
   modal. PDN adalah penjumlahan nilai absolut yang                    sum of the absolute values, which are stated in
   dinyatakan dalam Rupiah dari selisih bersih antara                  Rupiah, of the net difference between the assets
   aset dan liabilitas dalam mata uang asing dan selisih               and liabilities denominated in each foreign currency
   bersih dari tagihan dan liabilitas komitmen dan                     and the net difference of the receivables and
   kontinjensi yang dicatat dalam rekening administratif               payables of both commitments and contingencies
   yang didenominasi dalam setiap mata uang asing.                     recorded       in  the   administrative    accounts
                                                                       denominated in each foreign currency.




                                                           237
Page 634
                                                                             The original financial statements included herein are in the
                                                                                                                   Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                               As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                         and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                   unless otherwise stated)


44. ASET DAN LIABILITAS MONETER DALAM MATA                            44. ASSETS AND LIABILITIES DENOMINATED IN
    UANG ASING (lanjutan)                                                 FOREIGN CURRENCIES (continued)

   PDN Bank pada tanggal-tanggal 31 Desember                                  The Bank’s NOP as of December 31, 2023 and 2022
   2023 dan 2022:                                                             are as follows:
                                               31 Desember/December 31, 2023

                                                                              Posisi Devisa Neto/
                                 Aset/Assets        Liabilitas/Liabilities     Net Open Position

   Laporan posisi keuangan dan                                                                               Statement of financial position
   Rekening administratif                                                                                      and Administrative accounts
   Dolar Australia                      177.633                 (20.421)                 157.212                           Australian Dollar
   Dolar Amerika Serikat             30.741.381             (30.627.376)                 114.005                      United States Dollar
   Yen Jepang                           850.554                (759.435)                  91.119                             Japanese Yen
   Pound Sterling Inggris                86.071                        -                  86.071               Great Britain Pound Sterling
   Euro Eropa                            81.632                  (1.337)                  80.295                            European Euro
   Dolar Singapura                       39.205                 (47.435)                   8.230                           Singapore Dollar
   Renminbi                               3.497                     (19)                   3.478                                  Renminbi
   Dolar Hong Kong                         371s                        -                     371                          Hong Kong Dollar
   Ringgit Malaysia                         303                        -                     303                          Malaysian Ringgit
   Riyal Arab Saudi                         140                        -                     140                       Saudi Arabian Riyal


                                                                                         541.224

   Modal (Catatan 45)                                                                 31.230.282                         Capital (Note 45)

   Rasio PDN                                                                               1,73%                                 NOP ratio


                                               31 Desember/December 31, 2022
                                                                              Posisi Devisa Neto/
                                 Aset/Assets        Liabilitas/Liabilities     Net Open Position

   Laporan posisi keuangan dan                                                                               Statement of financial position
   Rekening administratif                                                                                      and Administrative accounts
   Dolar Amerika Serikat              7.622.973               (8.311.493)                688.520                      United States Dollar
   Yen Jepang                           480.099                 (808.933)                328.834                             Japanese Yen
   Dolar Singapura                       36.865                  (24.018)                 12.847                           Singapore Dollar
   Dolar Australia                       48.406                       (4)                 48.402                           Australian Dollar
   Renminbi                               1.089                       (8)                  1.081                                  Renminbi
   Ringgit Malaysia                         292                      (10)                    282                          Malaysian Ringgit
   Euro Eropa                            31.464                     (328)                 31.136                            European Euro
   Pound Sterling Inggris                63.405                      (11)                 63.394               Great Britain Pound Sterling
   Dolar Hong Kong                           97                         -                     97                          Hong Kong Dollar
   Riyal Arab Saudi                          81                         -                     81                       Saudi Arabian Riyal

                                                                                       1.174.674

   Modal (Catatan 45)                                                                 28.168.457                         Capital (Note 45)

   Rasio PDN                                                                               4,17%                                 NOP ratio




                                                            238
Page 635
                                                                The original financial statements included herein are in the
                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                 As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                           and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                              (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                     unless otherwise stated)


45. RASIO KEWAJIBAN         PENYEDIAAN      MODAL             45. MINIMUM REQUIRED CAPITAL ADEQUACY
    MINIMUM (KPMM)                                                RATIO (CAR)

   Bank secara aktif mengelola modalnya sesuai                   The Bank actively manages its capital in accordance
   dengan peraturan yang berlaku. Tujuan utamanya                with the regulatory requirements. The primary
   adalah untuk memastikan bahwa setiap saat Bank                objective of which is to ensure that the Bank, at all
   dapat menjaga kecukupan modalnya untuk                        times, maintains adequate capital to cover inherent
   menutup risiko bawaan (inherent risks) pada                   risks to its banking activities without prejudice to
   kegiatan perbankan tanpa mengurangi optimalisasi              optimizing shareholder’s value.
   nilai pemegang saham.
   KPMM pada tanggal 31 Desember 2023 dan 2022                   CAR on December 31, 2023 and 2022            was
   dihitung berdasarkan Peraturan Otoritas Jasa                  calculated based on Otoritas Jasa Keuangan (OJK)
   Keuangan (POJK) No. 27/POJK.03/2022, POJK                     No. 27/POJK.03/2022, POJK No. 34/POJK.03/2016
   No.34/POJK.03/2016     dan      POJK     No.                  and POJK No. 11/POJK.03/2016 concerning the
   11/POJK.03/2016 tentang Kewajiban Penyediaan                  Minimum Capital Requirement for Commercial
   Modal Minimum Bank Umum.                                      Banks.
   Berdasarkan POJK No. 27/POJK.03/2022 tentang                  Based on POJK No. 27/POJK.03/2022 concerning
   Perubahan         Kedua         atas       POJK               of     Second       Change       Regulation     No.
   No.11/POJK.03/2016        tentang      Kewajiban              11/POJK.03/2016 concerning the Minimum Capital
   Penyediaan Modal Minimum Bank Umum, PBI No.                   Requirement for Commercial Banks, PBI No.
   17/22/PBI/2015 tentang Kewajiban Pembentukan                  17/22/PBI/2015 concerning the Establishment of
   Countercyclical   Buffer    dan      POJK     No.             Countercyclical Buffer Requirement, and POJK
   46/POJK.03/2015 tentang Penetapan Systemically                No.      46/POJK.03/2015        concerning      the
   Important Bank dan Capital Surcharge, Bank                    Determination of Systemically Important Bank and
   diwajibkan membentuk tambahan modal sebagai                   Capital Surcharge, the Bank is required to form
   penyangga (buffer) yang berlaku secara bertahap               additional capital as a buffer that apply in stages
   mulai 1 Januari 2016. Pembentukan modal buffer                starting on January 1, 2016. The establishment of
   yaitu Capital Conservation Buffer, Countercyclical            buffer capital consists of Capital Conservation
   Buffer dan Capital Surcharge untuk D-SIB yang                 Buffer, Countercyclical Buffer, and Capital
   wajib dibentuk berdasarkan persentase tertentu                Surcharge for D-SIB which shall be established
   dari Aset Tertimbang Menurut Risiko (ATMR)                    based on a percentage of Risk Weighted Assets
   masing-masing sebesar 2,50%, 0,00% dan 1,00%.                 (RWA) of 2.50%, 0.00% and 1.00%, respectively.
   Berdasarkan POJK No 48/POJK.03/2020 tanggal 1                 Based on POJK No. 48/POJK.03/2020 as of
   Desember 2020 tentang Perubahan atas POJK                     December 1, 2020 concerning the amendments of
   No.11/POJK.03/2020 tanggal 27 Mei 2020, untuk                 POJK No.11/POJK.03/2020 dated May 27, 2020
   kebijakan relaksasi dalam rangka mendukung                    for relaxation policy in order to support the national
   program pemulihan ekonomi nasional sektor                     economic recovery program of the banking sector,
   perbankan, bahwa kewajiban pemenuhan Capital                  that the obligation to fulfill the Capital Conservation
   Conservation Buffer dalam komponen modal                      Buffer in the capital component is removed until
   ditiadakan sampai dengan 31 Maret 2022.                       March 31, 2022.
   Berdasarkan profil risiko Bank masing-masing per              Based on the risk profile as of December 31, 2023
   31 Desember 2023 dan 2022, yaitu low to                       and 2022, respectively, which are both low to
   moderate, maka rasio kecukupan modal (KPMM)                   moderate,      the      minimum      CAR       for
   minimum per 31 Desember 2023 dan           2022               December 31, 2023 and 2022, is set at 9% to less
   ditetapkan masing-masing sebesar 9% sampai                    than 9%, respectively.
   dengan 9%.
   Penentuan kepatuhan Bank terhadap peraturan                   The determination of the Bank's compliance with
   dan rasio yang berlaku didasarkan pada peraturan              regulations and applicable ratios are based on the
   praktik akuntansi yang berbeda dalam beberapa                 accounting rules which is differ in several aspects
   hal dengan Standar Akuntansi Keuangan di                      with the Financial Accounting Standards in
   Indonesia.                                                    Indonesia.




                                                        239
Page 636
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


45. RASIO KEWAJIBAN PENYEDIAAN               MODAL                45. MINIMUM REQUIRED CAPITAL ADEQUACY
    MINIMUM (KPMM) (lanjutan)                                         RATIO (CAR) (continued)

   Pada tanggal-tanggal 31 Desember 2023 dan 2022,                   As of December 31, 2023 and 2022, the Bank has
   Bank telah memenuhi rasio sesuai yang                             fulfilled the required ratios of Bank Indonesia
   disyaratkan Bank Indonesia dan/atau Otoritas Jasa                 and/or Financial Services Authority for the CAR.
   Keuangan untuk KPMM.

   Perhitungan KPMM    Bank  pada   tanggal                          The computation of the Bank’s CAR as of December
   31 Desember 2023 dan 2022 adalah sebagai                          31, 2023 and 2022 follows:
   berikut:

                                              31 Desember/           31 Desember/
                                            December 31, 2023      December 31, 2022

  Modal inti                         a             27.154.078              22.533.407                             Core Capital
  Modal pelengkap                                                                                      Supplementary Capital
    (Maksimal 100% dari                                                                               (Maximum of 100% of
    modal inti)                      b              4.076.204               5.635.050                          Core Capital)
  Modal pelengkap tambahan                                                                           Additional supplementary
    yang dialokasikan                                                                                       capital allocated
    untuk mengantisipasi                                                                                     for anticipation
    risiko pasar                     c                        -                       -                        of market risk

  Jumlah Modal Inti dan                                                                              Total Core Capital and
    Modal Pelengkap               d=a+b            31.230.282              28.168.457              Supplementary Capital

  Jumlah modal inti, modal                                                                                   Total core capital,
    pelengkap dan modal                                                                                       supplementary
    pelengkap tambahan                                                                                 capital and additional
    yang dialokasikan                                                                                         supplementary
    untuk mengantisipasi                                                                                 capital allocated for
    risiko pasar                  e=c+d            31.230.282              28.168.457             anticipation of market risk
  Penyertaan                        f                       -                       -                                Investment

  Jumlah modal untuk                                                                                             Total capital
    risiko kredit                  g=d-f           31.230.282              28.168.457                        for credit risk
  Jumlah modal untuk risiko                                                                           Total capital for credit
    kredit dan risiko pasar        h=e-f           31.230.282              28.168.457                 risk and market risk
  Aset tertimbang menurut                                                                              Risk weighted assets
    risiko kredit                    i            136.691.761             114.318.357                             credit risk
  ATMR untuk risiko pasar            j                942.326               1.373.299                RWA for market risk
  ATMR untuk risiko operasional      k             17.956.060              23.938.858              RWA for operational risk


  Jumlah ATMR untuk risiko
    kredit dan risiko                                                                          Total RWA for credit risk and
    operasional                    l=i+k          154.647.821             138.257.215                      operational risk
  Jumlah ATMR untuk risiko                                                                              RWA for Credit Risk,
    kredit, risiko operasional                                                                        Operational Risk and
    dan risiko pasar              m=i+j+k         155.590.147             139.630.514                           market risk

  CAR untuk risiko kredit                                                                                  CAR for credit risk
    dan risiko operasional         n=g/l               20,19%                  20,37%                   and operational risk
  CAR untuk risiko kredit                                                                                  CAR for credit risk
    risiko operasional,                                                                                 Operational risk and
    dan risiko pasar              o=h/m                20,07%                  20,17%                           market risk

  CAR Minimum yang
    Diwajibkan                                               9%                    9%                           Minimum CAR




                                                       240
Page 637
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                            unless otherwise stated)


46. MANAJEMEN RISIKO                                                 46. RISK MANAGEMENT

   Bank portofolio asetnya didominasi oleh Kredit                       The bulk of the Bank’s loan portofolio consists of
   Pemilikan Rumah (KPR) yang dipengaruhi oleh                          mortgage loans (KPR) that are affected by changes
   adanya perubahan iklim bisnis eksternal seperti                      in the external business environment such as
   inflasi dan tingkat BI rate. Upaya meminimalkan                      inflation and the BI rate. Efforts to minimize the
   dampak negatif tersebut dilakukan dengan                             negative impact is being done through risk
   pengelolaan risiko secara day to day risk                            management activities on a daily basis, with the
   management activities, dengan berlandaskan                           principles of Good Corporate Governance (GCG) as
   prinsip Good Corporate Governance (GCG) untuk                        the basis to ensure that all the processes and
   memastikan seluruh proses dan mekanisme yang                         mechanisms in connection to achieve the Bank’s
   terjadi dalam mencapai tujuan perusahaan,                            objectives, to prevent the bank from deviations and
   mencegah perusahaan dari penyimpangan dan                            risks that can lead to failure in achieving corporate
   risiko yang dapat mengakibatkan kegagalan                            objectives. The principle of prudence is the basis of
   pencapaian tujuan perusahaan, serta berlandaskan                     risk management activities to ensure the healthy
   prinsip    kehati-hatian     untuk   memastikan                      growth of the Bank's performance and sustainability.
   pertumbuhan kinerja Bank yang sehat dan
   berkesinambungan.

   Sebagai tindak lanjut penerapan Pilar 1 Basel II,                     As a follow up to the implementation of Pillar 1 of
   Bank telah mengimplementasikan pengukuran                             Basel II, the Bank has implemented a credit risk
   risiko kredit dengan menggunakan Standardized                         measurement using the Standardized Approach in
   Approach      sesuai    dengan   SEOJK        No.                     accordance with SEOJK No.24/SEOJK.03/2021
   24/SEOJK.03/2021 tanggal 7 Oktober 2021 tentang                       dated in Oct 7, 2021 regarding the Guidelines for
   Perhitungan Aset Tertimbang Menurut Risiko untuk                      Calculation of Risk Weighted Assets (RWA) for
   Risiko Kredit dengan Menggunakan Pendekatan                           Credit Risk by using Standardized Approach. Apart
   Standar Bagi Bank Umum. Selain dari itu Bank juga                     from that, the Bank has been calculating the
   telah melakukan perhitungan kebutuhan modal                           minimum capital requirements using the
   minimum dengan menggunakan Standardized                               Standardized Approach for operational risk in
   Approach      sesuai    dengan   SEOJK        No.                     accordance with SEOJK No. 6/SEOJK.03/2020
   6/SEOJK.03/2020 tanggal 29 April 2020 tentang                         dated in April 29, 2020 regarding the calculation of
   Perhitungan Aset Tertimbang Menurut Risiko untuk                      risk weighted assets (RWA) for Operational Risk.
   Risiko    Operasional    dengan    Menggunakan                        The use of Standardized Method for market risk are
   Pendekatan      Standar   Bagi  Bank      Umum.                       in accordance with SEOJK No. 38/SEOJK.03/2016
   Penggunaan Standardized Model untuk risiko pasar                      dated in September 8, 2016 regarding the
   sesuai dengan SEOJK No. 38/SEOJK.03/2016                              Guidelines for the Use of Standardized Method in
   tanggal 8 September 2016 perihal Pedoman                              the Calculation of Capital Adequacy Ratio on
   Penggunaan Metode Standar dalam Perhitungan                           Market Risk for Commercial Banks.
   Kewajiban Penyediaan Modal Minimum Bank
   Umum dengan Memperhitungkan Risiko Pasar.

   Guna melengkapi pengukuran risiko khususnya                          In measuring risks, particularly market risk and
   risiko pasar dan risiko likuiditas, Bank melakukan                   liquidity risk, the Bank conducts stress testing using
   stress test dengan worst case scenario. Selain                       worst case scenario in addition to scenario analysis
   melakukan scenario analysis terhadap aktivitas                       of the Bank's activities as a whole. The Bank also
   bank secara keseluruhan, Bank juga melakukan                         performs scenario analysis on specific activities,
   scenario analysis terhadap aktivitas tertentu,                       especially new activity, which could potentially
   khususnya aktivitas baru, yang berpotensi                            increase the interest rate risk exposure. Currently,
   meningkatkan eksposur risiko suku bunga. Stress                      the stress tests conducted by the Bank is focused on
   Test yang dilakukan oleh Bank fokus pada 3 (tiga)                    3 (three) types of risks, namely, credit risk, market
   jenis risiko yaitu risiko kredit, risiko pasar dan risiko            risk (including interest rate risk) and liquidity risk.To
   likuiditas. Untuk menyempurnakan pengukuran                          improve the measurement of market risk, liquidity
   risiko khususnya risiko pasar, risiko likuiditas dan                 risk and credit risk, the Bank conduct stress test on
   risiko kredit, Bank melakukan stress test terhadap                   worst case scenario as regulated in Director Circular
   worst case scenario sebagaimana diatur dalam SE                      Letter No. 21/SE/DIR/ERMD/2019 dated in May 15,
   Direksi No. 21/SE/DIR/ERMD/2019 tanggal 15 Mei                       2019 regarding The Guidelines of Implementation
   2019 perihal Petunjuk Pelaksanaan Stress Testing                     for Stress Testing with a minimum frequency of 1
   dengan frekuensi minimal 1 (satu) tahun sekali                       (one) year for credit risk and market risk and
   untuk risiko kredit dan risiko pasar serta per triwulan              quarterly for liquidity risk.
   untuk risiko likuiditas.


                                                               241
Page 638
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                   46. RISK MANAGEMENT (continued)

   Bank melakukan stress testing secara berkala untuk                The Bank conducts periodic stress testing to assess
   menilai kecukupan modal dalam hal terjadinya                      capital adequacy in anticipation of the occurrence of
   kejadian-kejadian risiko yang bersifat ekstrim atau               risk events that are extreme or catastrophic. Stress
   catastrophe. Stress Testing Risiko Likuiditas telah               Testing for liquidity risk has been carried out 4 times,
   dilakukan sebanyak 4 kali yaitu disampaikan melalui               which is submitted through the Risk Profile report for
   laporan Profil Risiko Triwulan I/2023, Triwulan                   Quarter I/2023, Quarter II/2023, Quarter III/2023 and
   II/2023, Triwulan III/2023 dan Triwulan IV/2023.                  Quarter IV/2023. Market Risk and Credit Risk Stress
   Stress Testing Risiko Kredit dan Risiko Pasar                     Testing is conducted at least once a year and
   dilakukan sedikitnya sekali dalam satu tahun dan                  conducted once in 2023 and the report will be
   dilakukan sebanyak 1 kali dimana pelaporan tahun                  submitted to the OJK.
   2023 akan disampaikan kepada OJK.

   Manajemen Risiko Kredit dalam kondisi Pandemi                     Credit Risk Management during the COVID-19
   COVID-19 untuk mendukung upaya pemerintah                         Pandemic: In order to support the government's
   dalam mempertahankan stabilitas ekonomi, Bank                     efforts to maintain economic stability, the Bank has
   telah menyiapkan kebijakan restrukturisasi kredit                 prepared a credit restructuring policy for debtors
   bagi debitur yang terdampak COVID-19 melalui                      affected by COVID-19 through Internal Regulations
   Ketentuan Internal baik berupa Surat Edaran                       in the form of a Directors Circular and Directors
   maupun Surat Keputusan Direksi sebagai Kebijakan                  Decree as a Countercyclical Policy in handling The
   Countercyclical Dampak Penyebaran COVID-19                        Impact of the Spread of COVID-19 which was
   yang diberlakukan sejak tanggal 24 Maret 2020.                    effective on March 24, 2020. The policy has
   Dalam kebijakan tersebut telah diatur kriteria debitur            stipulated criteria for debtors and business sectors
   dan sektor usaha terdampak COVID-19 yang dapat                    affected by COVID-19 that can be restructured.
   dilakukan restrukturisasi. Relaksasi dilakukan                    Relaxation is allowed specifically for debtors and
   khusus untuk debitur dan sektor yang terdampak                    sectors affected by COVID-19 by referring to POJK
   COVID-19 dengan mengacu pada POJK No.                             Number 11/POJK.03/2020 which was updated by
   11/POJK.03/2020 yang diperbaharui POJK No.                        POJK No. 17/POJK.03/2021 and POJK Number
   17/POJK.03/2021 dan POJK No. 48/POJK.03/2020,                     48/POJK.03/2020, Regulation of the Coordinating
   Peraturan Menko Perekonomian No. 6/ 2020 dan                      Minister for Economic Affairs Number 6/2020 and
   ketentuan internal Bank. Selain itu, pengambilan                  Bank BTN internal regulations. In addition, decision
   keputusan dilakukan dengan prinsip four eyes yang                 making is carried out using the four eyes principle
   melibatkan Satuan Kerja Bisnis dan Satuan Kerja                   which involves the Business Work Unit and Retail
   Pengelola Risiko Kredit Ritel maupun Satuan Kerja                 Credit Risk Management Work Unit and Commercial
   Pengelola Risiko Kredit Komersial untuk menjaga                   Credit Risk Management Work Unit to maintain the
   prinsip kehati-hatian. Bank telah menyusun skema                  principle of prudence. The bank has created a
   restrukturisasi dengan pola penundaan pembayaran                  restructuring scheme with a pattern of postponing
   kewajiban kredit. Dalam upaya mitigasi terjadi risiko             payment of credit obligations. In efforts to mitigate
   kredit. Bank memperketat analisa bagi debitur yang                credit risk occurs. The Bank will tighten the
   mengajukan permohonan restrukturisasi dan                         assessment for debtors who apply for restructuring
   meminimalisasi risiko pemberian restrukturisasi                   and minimize the risk of restructuring that is not right
   yang tidak tepat sasaran serta untuk menghindari                  on target and to avoid moral hazard. The stimulus
   moral hazard. Pemberian stimulus hanya dapat                      can only be given to debtors who meet the criteria
   diberikan kepada debitur yang memenuhi kriteria                   set by the Bank. Determination of debtors who meet
   yang ditetapkan oleh Bank. Penetapan debitur yang                 these criteria also involves the Risk Management
   memenuhi kriteria tersebut juga melibatkan Satuan                 Unit as an independent party. In the implementation
   Kerja Manajemen Risiko (unit risk management)                     of providing stimulus and to avoid free riders (moral
   sebagai      pihak   yang    independen.       Dalam              hazard), Bank BTN always refers to regulations and
   pelaksanaan pemberian stimulus dan untuk                          follows good corporate governance (GCG).
   mengindari adanya free rider (moral hazard), Bank
   BTN selalu mengacu pada regulasi dan mengikuti
   tata kelola yang baik (GCG).




                                                            242
Page 639
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                  46. RISK MANAGEMENT (continued)

   Dengan       diterapkannya      kebijakan    tersebut            The implementation of this policy is expected to help
   diharapkan debitur-debitur Bank yang terdampak                   Bank’s debtors who are affected by COVID-19
   pandemi COVID-19 dapat terbantu, sehingga                        pandemic, so that the quality of the Bank's portfolio
   kualitas portfolio Bank dapat tetap dijaga dengan                can be well maintained. In the ongoing COVID-19
   baik. Dalam kaitan dengan kondisi Pandemi COVID-                 pandemic, the Bank made several adjustments to
   19 yang tengah berlangsung, Bank melakukan                       the credit monitoring process and mechanism, both
   sejumlah penyesuaian pada proses dan mekanisme                   for debtors as an individual and portfolios. This
   monitoring kredit, baik terhadap debitur secara                  adjustment is made for the purposes that monitoring
   individual maupun portofolio. Sejumlah penyesuaian               results can always provide early warning signals and
   ini dilakukan agar hasil monitoring senantiasa dapat             determine risk mitigation to be effective in
   memberikan early warning signal dan penetapan                    maintaining credit quality during the pandemic
   mitigasi risiko dapat tepat guna dalam menjaga                   period. Adjustments to the credit monitoring
   kualitas kredit selama masa pandemi. Penyesuaian                 mechanism are carried out through watchlist
   mekanisme monitoring kredit dilakukan melalui                    analysis of all debtors, especially debtor entities that
   analisa watchlist terhadap seluruh debitur terutama              are in the business sector affected by COVID-19
   entitas debitur yang berada pada sektor usaha                    with reference to POJK Number 48 /POJK.03/2020
   terdampak COVID-19 dengan mengacu pada POJK                      and the Bank's internal regulations. Debtors that
   No. 48 /POJK.03/2020 dan ketentuan internal Bank.                have the potential to experience a decline in
   Debitur yang berpotensi mengalami penurunan                      performance must be monitored with an action plan
   kinerja wajib dipantau dengan rencana action plan                that is monitored for its implementation on an
   yang       dipantau       pelaksanaannya       secara            ongoing basis, in addition to controlling credit
   berkelanjutan, selain itu pengendalian pencairan                 disbursement of debtors who are experiencing credit
   kredit    terhadap      debitur   yang     mengalami             restructuring (especially those through the National
   restrukturisasi kredit (terutama yang melalui skema              Economic Stimulus scheme POJK Number 11/
   Stimulus Perekonomian Nasional POJK No.                          POJK.03/2020) therefore restructuring objectives
   11/POJK.03/2020) sehingga tujuan restrukturisasi                 can be achieved efficiently. Credit Risk Management
   dapat dicapai dengan tepat guna. Manajemen                       conducts a review as a treatment for restructured
   Risiko Kredit melakukan reviu sebagai perlakuan                  debtors who are affected by covid19 in order to
   debitur restrukturisasi yang terdampak pandemi                   minimize the occurrence of defaults for the Bank, as
   Covid-19 agar dapat meminimalisasi terjadinya                    well as a projection analysis of the condition of the
   default bagi Bank, serta dilakukan analisa proyeksi              Covid-19 restructured debtor as a precautionary
   terhadap kondisi debitur sebagai langkah antisipasi              measure for the Bank by still referring to applicable
   Bank, dengan tetap mengacu pada peraturan                        government and regulatory regulations. For the
   pemerintah dan regulator yang berlaku. Terhadap                  debtor restructuring scheme, the Bank made several
   skema restrukturisasi debitur, Bank melalukan                    adjustments to the provisions of the credit
   sejumlah       penyesuaian       ketentuan     proses            restructuring process by referring to POJK Number
   restrukturisasi kredit dengan mengacu pada POJK                  48 /POJK.03/2020 and internal policies related to
   No. 48 /POJK.03/2020 dan kebijakan internal terkait              providing economic stimulus for debtors affected by
   dengan pemberian stimulus perekonomian bagi                      the spread of COVID-19. The adjustment of
   debitur yang terkena dampak penyebaran COVID-                    restructuring provisions through economic stimulus
   19. Adapun penyesuaian ketentuan restrukturisasi                 includes: criteria for restructuring debtors, business
   melalui stimulus perekenomian mencakup: kriteria                 sectors affected by COVID-19, restructuring
   debitur restrukturisasi, sektor usaha yang                       mechanisms and schemes, decision authority,
   terdampak COVID-19, mekanisme dan skema                          determination of credit quality and reporting to
   restrukturisasi, kewenangan memutus, penetapan                   regulators. Adjustments to the provisions of the
   kualitas kredit serta pelaporan kepada regulator.                credit restructuring process affected by COVID-19
   Penyesuaian ketentuan proses restrukturisasi kredit              are expected to be able to help Bank debtors and
   terdampak COVID-19 ini diharapkan dapat                          the quality of the Bank's credit portfolio is always well
   membantu debitur Bank serta kualitas portfolio                   maintained.
   kredit Bank senantiasa terjaga dengan baik.




                                                           243
Page 640
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                 46. RISK MANAGEMENT (continued)

   Dalam rangka meningkatkan dan mengoptimalkan                    In order to improve and optimize services to the
   pelayanan kepada masyarakat khususnya dalam                     public, especially in the Commercial and Corporate
   bisnis Commercial dan Corporate Loan serta                      Loan business, as well as to increase Bank revenue
   meningkatkan pendapatan Bank dapat melalui                      through the provision of Credit Line facilities to Non-
   pemberian fasilitas Credit Line kepada Non                      Financial Institutions. In the process of granting
   Lembaga Keuangan. Dalam proses pemberian                        Credit Line Facilities for Non-Financial Institutions,
   Fasilitas Credit Line kepada Non Lembaga                        the credit risk management unit has been involved,
   Keuangan sudah melibatkan unit manajemen risiko                 starting from data collection to the decision process
   kredit mulai dari pengumpulan data hingga proses                for granting Credit Line Facilities for Non-Financial
   keputusan pemberian Fasilitas Credit Line kepada                Institutions. The results of the limit determination of
   Non Lembaga Keuangan. Hasil penetapan limit                     Credit Line facilities to Counterparties are based on
   fasilitas Credit Line kepada Counterparty didasarkan            analysis of legal aspects, company ratings,
   atas analisa aspek legal, rating perusahaan, aspek              management aspects, financial aspects, industrial
   manajemen, aspek keuangan, aspek industri, aspek                aspects, marketing aspects, and collateral aspects.
   pemasaran, dan aspek agunan. Manajemen Risiko                   Market      Risk     Management        also   monitors
   Pasar juga melakukan pengawasan transaksi                       transactions on Credit Line facility limits for Non-
   terhadap limit fasilitas Credit Line kepada Non                 Financial Institutions on a daily basis.
   Lembaga Keuangan secara harian.

   Struktur Manajemen Risiko                                       Risk Management Structure

   Tata kelola risiko Bank yang berlandaskan prinsip               The Bank’s risk governance, which is based on the
   GCG terwujud dari terlibatnya seluruh organ Bank                principles of GCG, involves the entire Bank in
   dalam pengelolaan manajemen risiko. Hal ini dapat               managing risks. This can be seen in the composition
   dilihat dari susunan organisasi manajemen risiko                of the Bank's risk management organizational
   Bank. Dewan Komisaris dan Direksi bertanggung                   structure. The Board of Commissioners (BOC) and
   jawab untuk memastikan penerapan Manajemen                      Board of Directors (BOD) are responsible for
   Risiko telah memadai sesuai dengan karakteristik,               ensuring the proper implementation of risk
   kompleksitas dan profil risiko Bank. Dewan                      management in accordance to the characteristics,
   Komisaris dan Direksi berperan aktif pada proses                complexity and risk profile of the Bank. The BOC and
   manajemen risiko dalam rangka memitigasi risiko                 BOD play an active role in the risk management
   Bank melalui Kualitas Penerapan Manajemen Risiko                process in order to mitigate the risk of the Bank
   yang meliputi tata kelola risiko, kerangka                      through     Quality      of      Risk    Management
   manajemen risiko, proses manajemen risiko,                      Implementation which covers risk governance, risk
   kecukupan sumber daya manusia, dan kecukupan                    management framework, risk management process,
   sistem informasi manajemen risiko, serta kecukupan              the adequacy of human resources and risk
   sistem pengendalian risiko.                                     management information systems, as well as the
                                                                   adequacy of risk management systems.




                                                          244
Page 641
                                                                 The original financial statements included herein are in the
                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                46. RISK MANAGEMENT (continued)

   Struktur Manajemen Risiko (lanjutan)                           Risk Management Structure (continued)

   Komite Pemantau Risiko                                         Risk Monitoring Committee
   Komite Pemantau Risiko bertugas dan bertanggung                The Risk Monitoring Committee is responsible for
   jawab dalam memberikan rekomendasi kepada                      providing recommendations to the Board of
   Dewan Komisaris dengan melakukan evaluasi atas                 Commissioners by evaluating the Bank's risk
   pedoman kebijakan manajemen risiko Bank (Risiko                management policy guidelines (Credit Risk, Market
   Kredit, Risiko Pasar, Risiko Likuiditas, Risiko                Risk, Liquidity Risk, Operational Risk, Strategic
   Operasional, Risiko Hukum, Risiko Stratejik, Risiko            Risk, Compliance Risk and Reputational Risk),
   Kepatuhan dan Risiko Reputasi), melakukan                      evaluating according to the policy guidelines and
   evaluasi kesesuaian antara pedoman kebijakan                   monitoring the duties of Risk Management
   manajemen risiko dengan pelaksanaannya dan                     Comittee. In carrying out its duties, the Risk
   melakukan pemantauan serta mengevaluasi                        Monitoring Committee with the Enterprise Risk
   pelaksanaan tugas Komite Manajemen Risiko.                     Management Division regularly discuss issues
   Dalam melaksanakan tugas dan tanggung                          about Risk Profile, Bank Soundness Level,
   jawabnya, Komite Pemantau Risiko mengadakan                    Recovery Plan and other matters related to Bank
   rapat dengan Enterprise Risk Management Division               risk management including reviewing the Risk
   secara berkala membahas isu-isu terkini, Profil                Management Policy Guidelines in which there are
   Risiko Triwulanan, Tingkat Kesehatan Bank,                     Risk Appetite and Risk Tolerance Bank.
   Recovery Plan dan hal-hal yang terkait dengan
   manajemen risiko Bank termasuk ikut mereview
   Pedoman Kebijakan Manajemen Risiko yang
   didalamnya terdapat Risk Appetite dan Risk
   Tolerance Bank.

   Komite Manajemen Risiko                                        Risk Management Committee
   Komite Manajemen Risiko (KMR) berperan aktif                   The Bank’s Risk Management Committee (RMC) is
   dalam memberikan pertimbangan-pertimbangan                     actively involved in providing advice on the inherent
   terhadap risiko yang melekat pada kebijakan yang               risks associated to new policies to be established by
   akan ditetapkan Direksi maupun memberikan                      the BOD and providing evaluation to the regulations
   evaluasi terhadap ketentuan-ketentuan yang dinilai             that are considered to be outdated and require
   kurang sesuai dengan perkembangan terkini dan                  updating. The RMC is also actively involved in
   perlu dilakukan penyesuaian. KMR terlibat secara               conducting risk measurement of the risks
   aktif dalam melakukan penilaian risiko yang melekat            associated to new products and/or services to
   pada setiap produk dan/atau jasa/aktivitas baru                enable the Bank to take the necessary mitigating
   sehingga Bank dapat melakukan langkah-langkah                  actions. The RMC may evaluate the Risk
   mitigasi yang diperlukan. Selain itu apabila                   Management Policy Guidelines, if necessary.
   dipandang perlu, KMR dapat melakukan evaluasi
   terhadap Pedoman Kebijakan Manajemen Risiko
   (PKMR).

   Satuan Kerja Manajemen Risiko                                  Risk Management Division
   Enterprise Risk Management Division (ERMD)                     Enterprise Risk Management Division (ERMD) is a
   merupakan Satuan Kerja Manajemen Risiko                        Risk Management Working Unit (RMWU) at the
   (SKMR) pada Bank, dipimpin oleh seorang Kepala                 Bank, led by a Division Head that is responsible
   Divisi yang bertanggung jawab langsung kepada                  directly to the Enterprise Risk Management, Big
   Direktur Enterprise Risk Management, Big Data &                Data & Analytics Director. The organizational
   Analytics. Struktur organisasi Enterprise Risk                 structure of the ERMD consists of the Market Risk
   Management Division terdiri dari Market Risk                   Management Department, Credit Portofolio Risk
   Management Department, Credit Portofolio Risk                  Management Department, Operational Risk
   Management Department, Operational Risk                        Management       Department,    Integrated   Risk
   Management       Department,   Integrated  Risk                Management Department dan Quality Assurance &
   Management Department dan Quality Assurance &                  Control.
   Control.




                                                         245
Page 642
                                                                      The original financial statements included herein are in the
                                                                                                            Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                     46. RISK MANAGEMENT (continued)

   Struktur Manajemen Risiko (lanjutan)                                Risk Management Structure (continued)

   Market Risk Management Department berfungsi                         Market      Risk   Management Department            is
   untuk melakukan pengelolaan Risiko Pasar dan                        responsible for managing market risk and liquidity
   Risiko Likuiditas. Fungsi Credit Risk Management                    risk. Credit Risk Management Department is
   Department melakukan pengelolaan Risiko Kredit,                     responsible for credit risk management, while
   Operational     Risk   Management      Department                   Operational Risk Management Department is
   berfungsi mengelola Risiko Operasional, Risiko                      responsible for managing operational risk,
   Kepatuhan, Risiko Reputasi dan Risiko Hukum                         compliance risk, reputational risk and legal risk and
   sedangkan Integrated Risk Department berfungsi                      Integrated Risk Management responsible for
   mengelola Risiko Stratejik, Setiap Departement                      strategik risk. The Department Head is assisted by
   Head dibantu oleh Unit Policy & Procedure dan Unit                  Policy & Procedure Unit and Assessment &
   Assessment & Measurement.                                           Measurement Unit.

   Bank telah memiliki panduan kebijakan di bidang                     The Bank’s risk management policies are formalized
   manajemen risiko yaitu Pedoman Kebijakan                            in the RMPM. RMPM sets out the minimum
   Manajemen Risiko (PKMR) di mana di dalamnya                         requirements based on Bank Indonesia regulations.
   telah mencakup ketentuan-ketentuan minimal yang                     A regular review is conducted on internal policies to
   disyaratkan di dalam Peraturan Bank Indonesia.                      comply with the prevailing regulations from
   Pengkajian ulang terhadap kebijakan internal juga                   regulatory bodies. Gap analysis are performed and
   dilakukan agar sesuai dengan ketentuan terkini dari                 best practices are applied to enhance the quality of
   regulator dengan melakukan gap analysis serta                       the risk management implementation.
   mengakomodasi best practices yang lazim
   digunakan untuk meningkatkan kualitas penerapan
   manajemen risiko.

   Kebijakan   dan          Prosedur        Pengelolaan                Risk Management Policies and Procedures
   Manajemen Risiko

   Sistem informasi manajemen risiko pada tahap awal                   The Bank also performs risk management on
   difokuskan pada pengumpulan dan perbaikan                           information systems which focuses on risk database
   database     risiko  yang     diharapkan    dapat                   collection and improvement. The data is gradually
   dikembangkan dan diaplikasikan ke dalam sistem                      developed and applied in the information technology
   teknologi informasi secara bertahap agar proses                     system so that risk measurement and monitoring
   pengukuran risiko dan pemantauan risiko dapat                       can be integrated into the Bank’s risk management
   dilakukan secara terintegrasi dan dapat disajikan                   on a timely basis.
   secara tepat waktu.

   Profil Risiko                                                       Risk Profile

   Sesuai dengan POJK No. 18/POJK.03/2016 tanggal                      In accordance with POJK No.18/POJK.03/2016
   16 Maret 2016 dan SE OJK No. 34/SEOJK.03/2016                       dated March 16, 2016 and SE OJK No.
   tanggal 1 September 2016 tentang Penerapan                          34/SEOJK.03/2016 dated September 1, 2016
   Manajemen Risiko Bagi Bank Umum, ERMD                               regarding on Risk Management for Commercial
   menyampaikan laporan profil risiko kepada Otoritas                  Banks, ERMD submits on a quarterly basis a risk
   Jasa Keuangan per triwulan yang memuat tentang                      profile report to the Financial Services Authority,
   eksposur risiko kredit, risiko pasar, risiko likuiditas,            which contains exposure to credit risk, market risk,
   risiko operasional, risiko kepatuhan, risiko hukum,                 liquidity risk, operational risk, compliance risk, legal
   risiko reputasi dan risiko stratejik. Selanjutnya                   risk, reputational risk and strategic risk.
   berdasarkan POJK No. 4/POJK.03/2016 tanggal                         Furthermore, based on POJK No. 4/POJK.03/2016
   26 Januari 2016 dan SEOJK No.14/SEOJK.03/2017                       dated January 26, 2016 and SEOJK No.
   tanggal 17 Maret 2017 tentang Penilaian Tingkat                     14/SEOJK.03/2017 dated March 17, 2017 regarding
   Kesehatan Bank Umum, meliputi penilaian faktor                      a Bank’s health level, the assessment of the risk
   profil risiko yang meliputi penilaian terhadap risiko               profile will cover the inherent risk and quality of risk
   inheren dan kualitas penerapan manajemen risiko                     management          implementation      through      the
   dalam aktivitas operasional Bank.                                   operational activities of the Bank.



                                                              246
Page 643
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                   46. RISK MANAGEMENT (continued)

   Profil Risiko (lanjutan)                                          Risk Profile (continued)

   Secara umum, sesuai dengan penilaian secara self                  In general, in accordance with the self-assessment
   assessment Profil Risiko Bank triwulan IV tahun                   of the Bank's Risk Profile for the fourth quarter of
   2023 diupayakan tetap berada pada tingkat Low to                  2023, it is strived to be at the Low to Moderate level,
   Moderate yang tercermin dari tingkat risiko inherent              which is reflected in the moderate inherent risk level
   moderate dan tingkat kualitas penerapan                           and satisfactory level of quality of risk management
   manajemen risiko dengan peringkat satisfactory.                   implementation. Inherent risks include business
   Risiko Inheren meliputi strategi bisnis, karakteristik            strategy, business characteristics, complexity of
   bisnis, kompleksitas produk dan aktivitas Bank,                   products and activities of the Bank, the industry in
   industri dimana Bank melakukan kegiatan usaha,                    which the Bank conducts business, as well as
   serta kondisi makro ekonomi. Kualitas Penerapan                   macroeconomic conditions. The quality of risk
   Manajemen Risiko meliputi tata kelola risiko,                     management          implementation      covers     risk
   kerangka manajemen risiko, proses manajemen                       governance, risk management framework, risk
   risiko, kecukupan sumber daya manusia, dan                        management process, the adequacy of human
   kecukupan sistem informasi manajemen risiko, serta                resources and risk management information
   kecukupan sistem pengendalian risiko.                             systems, as well as the adequacy of the risk
                                                                     management system.

   Risiko Kredit                                                     Credit Risk

   Pengelolaan risiko kredit merupakan bagian dari                   Credit risk management is part of the overall risk
   pengelolaan manajemen risiko secara keseluruhan,                  management, which is defined in Bank Indonesia
   yang mengacu pada Peraturan Bank Indonesia                        Regulation (PBI) No. 11/25/PBI/2009 dated July 1,
   (PBI) No. 11/25/PBI/2009 tanggal 1 Juli 2009                      2009 regarding the Amendment to Bank Indonesia
   tentang Perubahan atas Peraturan Bank Indonesia                   Regulation No. 5/8/PBI/2003 regarding Risk
   No.5/8/PBI/2003 tentang Penerapan Manajemen                       Management Implementation for Commercial
   Risiko bagi Bank Umum dimana Risiko Kredit                        Banks, as the risk arising from the failure of debtors
   merupakan risiko yang terjadi akibat kegagalan                    and/or other parties to fulfill their obligations to the
   debitur dan/atau pihak lain dalam memenuhi                        Bank.
   kewajiban mereka kepada Bank.

   Bank secara teratur meninjau dan memperbarui                      The Bank regularly reviews and updates the RMPM
   Pedoman Kebijakan Manajemen Risiko serta                          Guidelines as well as the Credit and Financing
   Pedoman Kebijakan Kredit dan Pembiayaan.                          Manual Policy.

   Eksposur Risiko Kredit dipantau sejak proses                      Credit risk exposure is monitored from the credit
   pemberian kredit sampai dengan jatuh tempo kredit.                granting process until the maturity of the credit.
   Pemantauan risiko diantaranya adalah memastikan                   Credit risk monitoring includes, among others,
   kepatuhan dengan persyaratan kredit, kecukupan                    ensuring compliance with the terms of the loan,
   agunan dan penanganan kredit bermasalah.                          adequacy of collateral and handling of non-
                                                                     performing loans.

   Pemantauan risiko secara reguler dilakukan oleh                   Regular risk monitoring is undertaken by ERMD to
   ERMD untuk memastikan bahwa unit kerja                            ensure that the business units carrying out credit
   melakukan kegiatan kredit secara konsisten                        activities are consistently implementing regulation
   menerapkan ketentuan dan Standar Operasional                      and Standard Operating Procedures (SOP) based
   Prosedur (SOP) sesuai dengan batasan yang                         on the limits set by the Bank.
   ditetapkan oleh Bank.

   Langkah strategis lainnya dalam penerapan                         Another strategic step in the implementation of the
   manajemen risiko kredit Bank adalah dengan                        Bank’s credit risk management is to distribute credit
   melakukan       penyebaran     risiko    kredit   dan             risk and minimize credit concentration by increasing
   pengendalian       konsentrasi      kredit     dengan             the loan portfolio as well as financing non-housing
   meningkatkan portofolio kredit maupun pembiayaan                  related sectors.
   di luar sektor perumahan (non-housing related).




                                                            247
Page 644
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                   46. RISK MANAGEMENT (continued)

   Risiko Kredit (lanjutan)                                          Credit Risk (continued)

   (i)   Analisa eksposur maksimum terhadap risiko                   (i)   Analysis on maximum exposures against credit
         kredit setelah memperhitungkan dampak                             risks considering the impact of collateral and
         agunan dan mitigasi risiko kredit lainnya:                        other credit risks mitigation:

         Nilai tercatat dari aset keuangan Bank selain                     The carrying value of the Bank’s financial
         kredit    yang     diberikan  menggambarkan                       assets other than loans represents its maximum
         eksposur maksimum atas risiko kredit.                             exposure to credit risk.

         Bank menetapkan jenis dan nilai agunan yang                       The Bank determined the type and value
         dijaminkan sesuai skema kredit dan perkiraan                      of collateral according to the loan scheme
         tingkat risiko kredit dari counterparty sebagai                   as well as estimated credit risk level from the
         second way out yang ditetapkan. Jenis dari                        counterparty as a determined second way out.
         agunan terdiri dari:                                              The types of collateral are as follows:

         a)   Physical collateral, berupa tanah dan                        a)   Physical collateral, such as land and
              bangunan.                                                         buildings.

         b)   Financial collateral, berupa simpanan                        b)   Financial collateral, such as third party
              (tabungan, giro dan deposito), surat                              funds (saving deposits, demand deposits
              berharga, dan lain-lain.                                          and time deposits), securities, etc.

         c)   Lainnya    berupa      garansi,   lembaga                    c)   Others, such as guarantees, guarantee
              penjamin, dan lain-lain.                                          institution, etc.

         Pemberian kredit yang dilaksanakan oleh Bank                      The loan granting conducted by the Bank is
         diatur dalam kebijakan dan prosedur                               stipulated in the loan policy and procedure in
         perkreditan dimana untuk setiap jenis atau                        which every loan type or scheme has minimum
         skema kredit telah ditentukan agunan minimal                      determinable collaterals that should be fulfilled.
         yang harus dipenuhi.

         Untuk segmen kredit komersial yang umumnya                        For commercial loans segment which generally
         merupakan kredit yasa griya, sesuai ketentuan                     represent yasa griya loan, according to the loan
         perkreditan wajib dijamin oleh agunan yang                        policy has to be collateralized adequately. The
         memadai. Agunan dapat berupa physical                             collaterals can be physical collateral, financial
         collateral, financial collateral atau lainnya                     collateral or others such as accounts receivable
         berupa tagihan usaha atau garansi. Untuk                          or guarantees. All collaterals particularly for
         seluruh agunan khususnya physical collateral                      physical collateral will be assessed in which the
         akan dilakukan retaksasi dimana nilai likuidasi                   collateral’s liquidation value will be used in
         atas agunan tersebut yang akan dipergunakan                       determining the coverage ratio.
         dalam menentukan kecukupan nilai agunan
         (coverage ratio).

         Selain aspek agunan untuk meminimalkan                            In addition to collateral aspect to minimize credit
         risiko kredit, pemberian kredit oleh Bank selalu                  risk, loan granting is conducted based on
         dilakukan berdasarkan evaluasi dan analisa                        evaluation and feasibility analysis so that the
         kelayakan          sehingga         kemampuan                     loan repayment ability (first way out) can be
         pengembalian kredit (first way out) dapat                         ascertained.
         dipastikan.

         Adanya keharusan bagi debitur untuk                               The necessity for debtors to comply with
         memenuhi agunan yang dipersyaratkan,                              collaterals    requirement,    loan    feasibility
         evaluasi atas kelayakan kredit, pengikatan                        evaluation, notarial agreement and pre
         kredit secara legal dan prosedur pre screening                    screening procedures will decrease the Bank’s
         akan menurunkan credit risk eksposur Bank ke                      credit risk exposure to the acceptable level.
         tingkat yang layak dan dapat diterima.




                                                            248
Page 645
                                                                                                         The original financial statements included herein are in the
                                                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                         NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                          As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                    and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                       (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                              unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                     46. RISK MANAGEMENT (continued)

   Risiko Kredit (lanjutan)                                                                                  Credit Risk (continued)

   (ii) Konsentrasi risiko aset keuangan dengan                                                              (ii) Concentration of risks of financial assets with
        eksposur risiko kredit                                                                                    credit risk exposure

       a)     Sektor geografis                                                                                   a)       Geographical sectors

              Tabel berikut menggambarkan rincian                                                                         The following tables provide details of the
              eksposur kredit Bank pada nilai tercatat,                                                                   Bank’s credit exposures at their carrying
              yang dikategorikan berdasarkan area                                                                         amounts, as categorized by geographical
              geografis pada tanggal 31 Desember 2023                                                                     region as of December 31, 2023 and 2022.
              dan 2022. Untuk tabel ini, Bank telah                                                                       For these tables, the Bank has allocated
              mengalokasikan        eksposur      area                                                                    exposures to the regions based on the
              berdasarkan wilayah geografis tempat                                                                        geographical area where activities are
              mereka beroperasi.                                                                                          undertaken.
                                                                           31 Desember/December 31, 2023

                                                                              Jawa selain
                                                                           Jabodetabek/
                                  Kantor Pusat/                            Java other than                       Lain-lain/
                                   Head Office         Jabodetabek           Jabodetabek          Sumatera       Others**)                Total

      Giro pada                                                                                                                                                         Current accounts with
        Bank Indonesia               18.145.761                        -                     -               -                  -         18.145.761                       Bank Indonesia
                                                                                                                                                                            Current accounts
      Giro pada bank lain         2.202.683                            -                  403           288                    24          2.203.398                      with other banks
      Penempatan pada                                                                                                                                                        Placements with
         Bank Indonesia dan                                                                                                                                            Bank Indonesia and
         bank lain              30.561.122                          -                       -                -                  -         30.561.122                           other banks
      Efek-efek                   4.661.195                   644.080                     598                -                  -          5.305.873                                Securities
      Obligasi Pemerintah       35.893.929                          -                       -                -                  -         35.893.929                      Government bonds
      Tagihan akseptasi                   -                   544.567                       -                -                  -            544.567                   Acceptance receivable
      Tagihan derivatif              32.176                         -                       -                -                  -             32.176                     Derivative receivable
      Kredit yang diberikan
         dan piutang/pembiayaan                                                                                                                                  Loans and sharia financing/
         syariah                                                                                                                                                               receivables
         Konsumer                                                                                                                                                               Consumer
            Pemilikan rumah               -             108.384.592                 66.369.601    40.751.732       42.564.956           258.070.881                       Housing loan
            Non-kepemilikan rumah         -               3.953.716                  4.334.006     1.612.985        3.105.874            13.006.581                   Non-housing loan
         Modal kerja                      -              26.289.070                  6.911.050     2.402.162        2.357.847            37.960.129                        Working capital
         Investasi                        -              13.025.928                  1.571.579       688.670          245.830            15.532.007                            Investment
         Sindikasi                        -               7.150.361                                        -                -             7.150.361                            Syndicated
         Direksi dan karyawan:                                                                                                                                    Director and Employees
           - Pihak ketiga                 -                   815.126                 518.583        253.279            306.644            1.893.632                          Third party -
          - Pihak berelasi                -                    44.440                  23.270          5.808             11.032               84.550                        Related party -
      Bunga yang masih
        akan diterima               535.488                5.711.328                 2.935.706     1.061.214        1.282.951             11.526.687                        Interest receivable
      Aset lain-lain*)            1.495.389                  363.395                     8.930         2.068            3.714              1.873.496                             Other assets*)

      Total kotor                    93.527.743         166.926.603                 82.673.726    46.778.206       49.878.872           439.785.150                                Total gross

      Cadangan kerugian                                                                                                                                                       Allowances for
        penurunan nilai                                                                                                                 (15.640.547)                   impairment losses

      Neto                                                                                                                              424.144.603                                        Net

       *)    Terdiri atas tagihan kepada pihak ketiga                                                             *)    Consists of third parties receivables
       **)   Lain-lain terdiri atas Kalimantan, Sulawesi, Bali, Maluku dan Papua.                                 **)   Others consists of Kalimantan, Sulawesi, Bali, Maluku and Papua.




                                                                                            249
Page 646
                                                                                                         The original financial statements included herein are in the
                                                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                         NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                          As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                    and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                       (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                              unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                     46. RISK MANAGEMENT (continued)
   Risiko Kredit (lanjutan)                                                                                  Credit Risk (continued)
   (ii) Konsentrasi risiko aset keuangan dengan                                                              (ii) Concentration of risks of financial assets with
        eksposur risiko kredit (lanjutan)                                                                         credit risk exposure (continued)

       a)     Sektor geografis (lanjutan)                                                                        a)       Geographical sectors (continued)
                                                                           31 Desember/December 31, 2022

                                                                              Jawa selain
                                                                           Jabodetabek/
                                  Kantor Pusat/                            Java other than                       Lain-lain/
                                   Head Office         Jabodetabek           Jabodetabek          Sumatera       Others**)                Total

      Giro pada                                                                                                                                                         Current accounts with
        Bank Indonesia               25.416.941                        -                     -               -                  -         25.416.941                        Bank Indonesia
                                                                                                                                                                             Current accounts
      Giro pada bank lain         1.470.723                            -                  240          1.271                  23           1.472.257                       with other banks
      Penempatan pada                                                                                                                                                         Placements with
         Bank Indonesia dan                                                                                                                                            Bank Indonesia and
         bank lain              12.975.955                             -                     -               -                  -         12.975.955                            other banks
      Efek-efek                   1.723.168                            -                                                                   1.723.168                                 Securities
      Obligasi Pemerintah       51.964.973                             -                     -               -                   -        51.964.973                       Government bonds
      Efek - efek yang dibeli                                                                                                                                           Securities purchased
         dengan janji dijual                                                                                                                                              under agreement
         kembali                  1.434.190                         -                       -                -                  -          1.434.190                                to resell
      Tagihan akseptasi                   -                   410.219                  10.343                -                  -            420.562                   Acceptance receivable
      Tagihan derivatif             103.939                         -                       -                -                  -            103.939                     Derivative receivable
      Kredit yang diberikan
         dan piutang/pembiayaan                                                                                                                                  Loans and sharia financing/
         syariah                                                                                                                                                               receivables
         Konsumer                                                                                                                                                               Consumer
            Pemilikan rumah               -               98.728.648                59.465.684    37.405.974       38.286.748           233.887.054                       Housing loan
            Non-kepemilikan rumah         -                3.415.964                 3.965.796     1.400.018        2.907.880            11.689.658                   Non-housing loan
         Modal kerja                      -               22.394.510                 7.732.094     2.044.470        2.284.609            34.455.683                        Working capital
         Investasi                        -                9.556.832                 1.246.509       636.549          203.732            11.643.622                            Investment
         Sindikasi                        -                4.504.244                         -             -                -             4.504.244                            Syndicated
         Direksi dan karyawan:                                                                                                                                    Director and Employees
           - Pihak ketiga                 -                   874.100                 538.776        273.637            321.567            2.008.080                          Third party -
          - Pihak berelasi                -                    52.022                  22.575          6.090             12.676               93.363                        Related party -
      Bunga yang masih
        akan diterima               556.024                5.216.864                 2.719.508       993.220        1.264.686             10.750.302                        Interest receivable
      Aset lain-lain*)              948.131                   78.478                     8.250         2.090            3.099              1.040.048                          Other assets*)

      Total kotor                    96.594.044         145.231.881                 75.709.775    42.763.319       45.285.020           405.584.039                                Total gross

      Cadangan kerugian                                                                                                                                                       Allowances for
        penurunan nilai                                                                                                                 (15.679.205)                   impairment losses

      Neto                                                                                                                              389.904.834                                        Net

       *)    Terdiri atas tagihan kepada pihak ketiga                                                             *)    Consists of third parties receivables
       **)   Lain-lain terdiri atas Kalimantan, Sulawesi, Bali, Maluku dan Papua.                                 **)   Others consists of Kalimantan, Sulawesi, Bali, Maluku and Papua.




                                                                                            250
Page 647
                                                                                                        The original financial statements included herein are in the
                                                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                        NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                         As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                   and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                      (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                             unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                     46. RISK MANAGEMENT (continued)

   Risiko Kredit (lanjutan)                                                                                 Credit Risk (continued)

   (ii) Konsentrasi risiko aset keuangan dengan                                                             (ii) Concentration of risks of financial assets with
        eksposur risiko kredit (lanjutan)                                                                        credit risk exposure (continued)

        Eksposur      risiko   kredit atas   rekening                                                           Credit risk exposure related to administrative
        administratif        pada      tanggal-tanggal                                                          accounts as of December 31, 2023 and 2022
        31 Desember 2023 dan 2022 adalah sebagai                                                                are as follows:
        berikut:
                                                                           31 Desember/December 31, 2023

                                                                              Jawa selain
                                                                            Jabodetabek/
                                   Kantor Pusat/                           Java other than                      Lain-lain/
                                    Head Office         Jabodetabek          Jabodetabek         Sumatera       Others*)                Total

      Fasilitas kredit
         yang belum ditarik **)                    -           34.511                  39.265        46.294             7.013              127.083               Unused loan facilities**)
      Garansi yang diterbitkan                     -        1.189.111               1.176.639        88.872           124.553            2.579.175                  Guarantees issued
      Irrevocable L/C                                                                                                                                                      Outstanding
            Yang masih berjalan                    -            19.393                      -          713                    -             20.106                    irrevocable L/Cs

      Total                                        -        1.243.015               1.215.904       135.879           131.566            2.726.364                                      Total



                                                                           31 Desember/December 31, 2022

                                                                              Jawa selain
                                                                            Jabodetabek/
                                   Kantor Pusat/                           Java other than                      Lain-lain/
                                    Head Office         Jabodetabek          Jabodetabek         Sumatera       Others*)                Total

      Fasilitas kredit
         yang belum ditarik **)                    -           15.819                 36.774         25.471             2.064               80.128               Unused loan facilities**)
      Garansi yang diterbitkan                     -          718.932                190.123            623            38.817              948.495                  Guarantees issued
      Irrevocable L/C                                                                                                                                                      Outstanding
              Yang masih berjalan                  -          173.743                 47.741                -                 -            221.484                    irrevocable L/Cs

      Total                                        -          908.494                274.638         26.094            40.881            1.250.107                                      Total


       *)     Lain-lain terdiri atas Kalimantan, Sulawesi, Bali, Maluku dan Papua                               *)    Others consists of Kalimantan, Sulawesi, Bali, Maluku and Papua
       **)    Hanya fasilitas kredit committed yang belum ditarik                                               **)   Only for committed unused loan facility




                                                                                           251
Page 648
                                                                                                  The original financial statements included herein are in the
                                                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                      unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                              46. RISK MANAGEMENT (continued)

   Risiko Kredit (lanjutan)                                                                        Credit Risk (continued)

   (ii) Konsentrasi risiko aset keuangan dengan                                                    (ii) Concentration of risks of financial assets with
        eksposur risiko kredit (lanjutan)                                                               credit risk exposure (continued)

       b)     Sektor industri                                                                                 b)      Industry sectors

              Tabel berikut ini menggambarkan rincian                                                                 The following tables provide the details of
              eksposur kredit Bank pada nilai tercatat                                                                the Bank’s credit exposure at carrying
              (tanpa memperhitungkan agunan atau                                                                      amounts (without taking into account any
              pendukung      kredit  lainnya),   yang                                                                 collateral   held     or   other    credit
              dikategorikan berdasarkan sektor industri                                                               tenhancements), categorized based on
              pada tanggal-tanggal 31 Desember 2023                                                                   industry sectors as of December 31, 2023
              dan 2022:                                                                                               and 2022:


                                                                     31 Desember/December 31, 2023

                                Pemerintah
                                 (termasuk
                                    Bank                                 Lembaga
                                Indonesia)/                              keuangan
                                Government                              bukan bank/        Perusahaan
                                 (including                              Non-bank            lainnya/
                                    Bank               Bank/              financial           Other           Perseorangan/
                                 Indonesia)            Banks            institutions       companies**)        Individuals                 Total

      Giro pada                                                                                                                                                     Current accounts with
         Bank Indonesia            18.145.761                    -                     -                  -                     -         18.145.761                   Bank Indonesia
                                                                                                                                                                        Current accounts
      Giro pada bank lain                -              2.203.398                      -                  -                     -          2.203.398                  with other banks
      Penempatan pada                                                                                                                                                    Placements with
         Bank Indonesia dan                                                                                                                                        Bank Indonesia and
         bank lain              12.148.687            18.412.435                    -                 -                         -         30.561.122                       other banks
      Efek-efek                    501.570               163.395            1.989.553         2.651.355                         -          5.305.873                           Securities
      Obligasi Pemerintah       35.893.929                     -                    -                 -                         -         35.893.929                  Government bonds
      Tagihan Akseptasi                  -                     -                    -           544.567                         -            544.567              Acceptance Receivable
      Tagihan Derivatif                  -                32.176                    -                 -                         -             32.176               Derivative Receivable
      Kredit yang diberikan
         dan piutang/pembiayaan                                                                                                                               Loans and sharia financing/
         syariah                 7.558.101              1.325.728           1.407.154        48.195.548             275.211.610         333.698.141                       receivables
      Bunga yang masih
         akan diterima             709.162                  4.651               7.818         2.120.280               8.684.776           11.526.687                    Interest receivable
      Aset lain-lain*)             574.025                 31.022              75.821           876.238                 316.390            1.873.496                        Other assets*)

      Total kotor                  75.531.235         22.172.805            3.480.346        54.387.988             284.212.776         439.785.150                            Total gross

      Cadangan kerugian                                                                                                                                                   Allowances for
        penurunan nilai                                                                                                                 (15.640.547)                  impairment losses

      Neto                                                                                                                              424.144.603                                      Net



       *)    Terdiri atas tagihan kepada pihak ketiga.                                                        *)      Consists of third party receivables.
       **)   Termasuk perusahaan yang bergerak di industri perumahan, konstruksi,                             **)     Includes other companies under real estate, construction, manufacturing,
             manufaktur, transportasi, pergudangan dan komunikasi, perdagangan,                                       transportation, warehousing and communication, trading, farming, mining and
             pertanian, pertambangan dan industri lainnya.                                                            other industries.




                                                                                    252
Page 649
                                                                                                  The original financial statements included herein are in the
                                                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                      unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                              46. RISK MANAGEMENT (continued)

   Risiko Kredit (lanjutan)                                                                        Credit Risk (continued)

   (ii) Konsentrasi risiko aset keuangan dengan                                                    (ii) Concentration of risks of financial assets with
        eksposur risiko kredit (lanjutan)                                                               credit risk exposure (continued)

       b)     Sektor industri (lanjutan)                                                                      b)      Industry sectors (continued)

              Tabel berikut ini menggambarkan rincian                                                                 The following tables provide the details of
              eksposur kredit Bank pada nilai tercatat                                                                the Bank’s credit exposure at carrying
              (tanpa memperhitungkan agunan atau                                                                      amounts (without taking into account any
              pendukung      kredit  lainnya),   yang                                                                 collateral   held     or   other    credit
              dikategorikan berdasarkan sektor industri                                                               enhancements), categorized based on
              pada tanggal-tanggal 31 Desember 2023                                                                   industry sectors as of December 31, 2023
              dan 2022: (lanjutan)                                                                                    and 2022: (continued)


                                                                     31 Desember/December 31, 2022

                                Pemerintah
                                 (termasuk
                                    Bank                                 Lembaga
                                Indonesia)/                              keuangan
                                Government                              bukan bank/        Perusahaan
                                 (including                              Non-bank            lainnya/
                                    Bank               Bank/              financial           Other           Perseorangan/
                                 Indonesia)            Banks            institutions       companies**)        Individuals                 Total

      Giro pada                                                                                                                                                     Current accounts with
         Bank Indonesia            25.416.941                    -                     -                  -                     -         25.416.941                   Bank Indonesia
                                                                                                                                                                        Current accounts
      Giro pada bank lain                -              1.472.257                      -                  -                     -          1.472.257                  with other banks
      Penempatan pada                                                                                                                                                    Placements with
         Bank Indonesia dan                                                                                                                                        Bank Indonesia and
         bank lain              12.575.894                400.061                  -                  -                         -         12.975.955                       other banks
      Efek-efek                          -                547.036            593.031            583.101                         -          1.723.168                            Securities
      Obligasi Pemerintah       51.964.973                      -                  -                  -                         -         51.964.973                  Government bonds
      Efek - efek yang dibeli                                                                                                                                       Securities purchased
         dengan janji dijual                                                                                                                                         under agreement
         kembali                 1.434.190                      -                      -              -                         -          1.434.190                           to resell
      Tagihan Akseptasi                  -                      -                      -        420.562                         -            420.562              Acceptance Receivable
      Tagihan Derivatif                  -                103.939                                                               -            103.939               Derivative Receivable
      Kredit yang diberikan
         dan piutang/pembiayaan                                                                                                                               Loans and sharia financing/
         syariah                 4.516.550                 40.261            810.586         44.381.293             248.533.014         298.281.704                       receivables
      Bunga yang masih
         akan diterima             545.988                 31.175               4.023         2.427.021               7.742.095           10.750.302                    Interest receivable
      Aset lain-lain*)               5.733                488.071                   -           403.022                 143.222            1.040.048                      Other assets*)

      Total kotor                  96.460.269           3.082.800           1.407.640        48.214.999             256.418.331         405.584.039                            Total gross

      Cadangan kerugian                                                                                                                                                   Allowances for
        penurunan nilai                                                                                                                 (15.679.205)                  impairment losses

      Neto                                                                                                                              389.904.834                                      Net


       *)    Terdiri atas tagihan kepada pihak ketiga.                                                        *)      Consists of third party receivables.
       **)   Termasuk perusahaan yang bergerak di industri perumahan, konstruksi,                             **)     Includes other companies under real estate, construction, manufacturing,
             manufaktur, transportasi, pergudangan dan komunikasi, perdagangan,                                       transportation, warehousing and communication, trading, farming, mining and
             pertanian, pertambangan dan industri lainnya.                                                            other industries.




                                                                                    253
Page 650
                                                                                                        The original financial statements included herein are in the
                                                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                        NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                         As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                   and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                      (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                             unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                     46. RISK MANAGEMENT (continued)

   Risiko Kredit (lanjutan)                                                                               Credit Risk (continued)

   (ii) Konsentrasi risiko aset keuangan dengan                                                           (ii) Concentration of risks of financial assets with
        eksposur risiko kredit (lanjutan)                                                                      credit risk exposure (continued)

        b)     Sektor industri (lanjutan)                                                                        b)      Industry sectors (continued)

               Eksposur risiko kredit yang terkait dengan                                                                Credit     risk  exposure relating to
               unsur rekening administratif adalah                                                                       administrative account items as of
               sebagai berikut pada tanggal-tanggal                                                                      December 31, 2023 and 2022, are as
               31 Desember 2023 dan 2022: (lanjutan)                                                                     follows: (continued)
                                                                             31 Desember/December 31, 2023

                                   Pemerintah
                                    (termasuk
                                       Bank                                    Lembaga
                                   Indonesia)/                                 keuangan
                                   Government                                 bukan bank/         Perusahaan
                                    (including                                 Non-bank             lainnya/
                                       Bank                 Bank/               financial            Other       Perseorangan/
                                    Indonesia)              Banks             institutions        companies*)     Individuals                Total

      Fasilitas kredit
          yang belum ditarik **)                   -                    -                   140        120.686               6.257             127.083              Unused loan facilities**)
      Garansi yang diterbitkan                     -                    -                     -      2.576.727               2.448           2.579.175                 Guarantees issued
      Irrevocable L/C                                                                                                                                                         Outstanding
          yang masih berjalan                      -                    -                     -         20.106                     -             20.106                  irrevocable L/Cs

      Total                                        -                    -                   140      2.717.519               8.705           2.726.364                                  Total


        *)  Termasuk perusahaan yang bergerak di industri perumahan, konstruksi,                                 *)    Includes other companies under real estate, construction, manufacturing,
            manufaktur, transportasi, pergudangan dan komunikasi, perdagangan, pertanian,                              transportation, warehousing and communication, trading, farming, mining and
            pertambangan dan industri lainnya.                                                                         other industries.
        **) Hanya fasilitas kredit komitmen yang belum ditarik                                                   **)   Only for committed unused loan facility



                                                                             31 Desember/December 31, 2022

                                   Pemerintah
                                    (termasuk
                                       Bank                                    Lembaga
                                   Indonesia)/                                 keuangan
                                   Government                                 bukan bank/         Perusahaan
                                    (including                                 Non-bank             lainnya/
                                       Bank                 Bank/               financial            Other       Perseorangan/
                                    Indonesia)              Banks             institutions        companies*)     Individuals                Total

      Fasilitas kredit
          yang belum ditarik **)                   -                    -                     -         77.942               2.186              80.128              Unused loan facilities**)
      Garansi yang diterbitkan                     -                    -                     -        946.635               1.860             948.495                 Guarantees issued
      Irrevocable L/C                                                                                                                                                         Outstanding
          yang masih berjalan                      -                    -                     -        221.484                     -           221.484                  irrevocable L/Cs

      Total                                        -                    -                     -      1.246.061               4.046           1.250.107                                  Total



        *)  Termasuk perusahaan yang bergerak di industri perumahan, konstruksi,                                 *)    Includes other companies under real estate, construction, manufacturing,
            manufaktur, transportasi, pergudangan dan komunikasi, perdagangan, pertanian,                              transportation, warehousing and communication, trading, farming, mining and
            pertambangan dan industri lainnya.                                                                         other industries.
        **) Hanya fasilitas kredit komitmen yang belum ditarik                                                   **)   Only for committed unused loan facility




                                                                                            254
Page 651
                                                                                    The original financial statements included herein are in the
                                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                      unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                             46. RISK MANAGEMENT (continued)
   Risiko Kredit (lanjutan)                                                          Credit Risk (continued)
   (iii) Informasi mengenai aset keuangan yang                                       (iii) Information about impaired and not impaired
         mengalami dan tidak mengalami penurunan                                           financial assets
         nilai
       1.       Giro pada Bank Lain                                                       1.       Current Accounts with Other Banks
                                                     31 Desember/December 31, 2023
                                        Tidak mengalami        Mengalami
                                        penurunan nilai/     penurunan nilai/
                                          Not Impaired          Impaired*)                     Total
         Rupiah                                  234.046                      -                      234.046                                     Rupiah
         Mata Uang Asing                       1.967.574                  1.778                    1.969.352                          Foreign currencies
         Total                                 2.201.620                  1.778                    2.203.398                                      Total

         Cadangan kerugian
            penurunan nilai                                                                             (1.804)          Allowance for impairment losses

         Neto                                                                                      2.201.594                                        Net

       *) Kolektibilitas 3, 4 dan 5                                                       *) Collectibility 3, 4 and 5

                                                     31 Desember/December 31, 2022
                                        Tidak mengalami        Mengalami
                                        penurunan nilai/     penurunan nilai/
                                          Not Impaired          Impaired*)                     Total
         Rupiah                                  540.052                      -                        540.052                                   Rupiah
         Mata Uang Asing                         930.474                  1.731                        932.205                        Foreign currencies
         Total                                 1.470.526                  1.731                    1.472.257                                      Total

         Cadangan kerugian
            penurunan nilai                                                                             (1.747)          Allowance for impairment losses
         Neto                                                                                      1.470.510                                        Net

       *) Kolektibilitas 3, 4 dan 5                                                       *) Collectibility 3, 4 and 5



      2.      Penempatan pada Bank Indonesia dan bank                                     2.       Placements with Bank Indonesia and other
              lain.                                                                                banks.
               Per 31 Desember 2023 dan 2022, aset                                                 As of December 31, 2023 and 2022, these
               keuangan ini tidak mengalami penurunan nilai                                        financial assets are not impaired individually
               secara individual maupun kolektif.                                                  as well as collectively.

       3.       Efek-efek                                                                 3.       Securities
                                                       31 Desember/December 31, 2023
                                        Tidak mengalami        Mengalami
                                        penurunan nilai/     penurunan nilai/
                                          Not Impaired          Impaired*)                     Total
                  Reksadana                    1.372.968                        -                  1.372.968                             Mutual Funds
                  Obligasi                     2.046.215                        -                  2.046.215                                    Bonds
                  Medium Term Notes              200.000                        -                    200.000                       Medium Term Notes
                  Efek Beragunan Aset            540.443                        -                    540.443                    Asset-Backed Securities
                  SKBDN                          644.677                        -                    644.677                                   SKBDN
                  SRBI                           194.060                        -                    194.060                                     SRBI
                  SVBI                           307.510                        -                    307.510                                     SVBI

                  Total                        5.305.873                        -                  5.305.873                                      Total

                  Cadangan kerugian
                    penurunan nilai                                                                    (22.903)          Allowance for impairment losses

                  Neto                                                                             5.282.970                                        Net
       *) Kolektibilitas 3, 4 dan 5                                                       *) Collectibility 3, 4 and 5




                                                                   255
Page 652
                                                                                  The original financial statements included herein are in the
                                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                      unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                             46. RISK MANAGEMENT (continued)
   Risiko Kredit (lanjutan)                                                        Credit Risk (continued)

   (iii) Informasi mengenai aset keuangan yang                                     (iii) Information about impaired and not impaired
         mengalami dan tidak mengalami penurunan nilai                                   financial assets (continued)
         (lanjutan)
       3.       Efek-efek (lanjutan)                                                    3.       Securities (continued)
                                                       31 Desember/December 31, 2022
                                        Tidak mengalami        Mengalami
                                        penurunan nilai/     penurunan nilai/
                                          Not Impaired          Impaired*)                   Total
                  Reksadana                      401.416                      -                      401.416                           Mutual Funds
                  Obligasi                       709.711                  2.000                      711.711                                  Bonds
                  Medium Term Notes              103.085                      -                      103.085                     Medium Term Notes
                  Efek Beragunan Aset            492.415                      -                      492.415                  Asset-Backed Securities
                  SKBDN                           14.541                      -                       14.541                                 SKBDN

                  Total                        1.721.168                  2.000                  1.723.168                                      Total

                  Cadangan kerugian
                    penurunan nilai                                                                    (2.399)         Allowance for impairment losses

                  Neto                                                                           1.720.769                                        Net

       *) Kolektibilitas 3, 4 dan 5                                                     *) Collectibility 3, 4 and 5




       4.       Rekening administratif                                                  4.       Administrative account
                Per 31 Desember 2023 dan 2022, rekening                                          As of December 31, 2023 and 2022,
                administratif mengalami penurunan nilai                                          administrative account which are impaired
                masing-masing sebesar Rp3.580 dan                                                amounting to Rp3,580 and Rp4,719,
                Rp4.719.                                                                         respectively.

       5. Efek-efek yang dibeli dengan janji dijual                                     5.       Securities Purchased Under Agreement to
          kembali                                                                                Resell

                Per 31 Desember 2023 dan 2022, efek-                                              As of December 31, 2023 and 2022,
                efek yang dibeli dengan janji dijual kembali                                      securities purchased under agreement to
                tidak mengalami penurunan nilai.                                                  resell are not impaired.

       6.       Tagihan Akseptasi                                                       6.       Acceptance Receivable
                Per 31 Desember 2023 dan 2022, tagihan                                           As of December 31, 2023 and 2022,
                akseptasi tidak mengalami penurunan                                              acceptance receivable are not impaired.
                nilai.

       7.       Kredit yang diberikan dan pembiayaan/                                   7.       Loans and sharia financing/receivables
                piutang syariah

                Per 31 Desember 2023 dan 2022, aset                                              As of December 31, 2023 and 2022, these
                keuangan ini mengalami penurunan nilai                                           financial assets are impaired calculated by
                secara individual maupun kolektif sesuai                                         individual and collective impairment
                ketentuan dalam PSAK No. 71 dan                                                  according to SFAS No. 71 and Financial
                Peraturan Otoritas Jasa Keuangan                                                 Service Authority Regulations (POJK).
                (POJK).




                                                                   256
Page 653
                                                                                           The original financial statements included herein are in the
                                                                                                                                 Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                    PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                            As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                      and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                         (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                        46. RISK MANAGEMENT (continued)
   Risiko Kredit (lanjutan)                                                                 Credit Risk (continued)
   (iv) Tabel di bawah menunjukkan kualitas aset                                                (iv) The tables below shows the quality of financial
        keuangan berdasarkan golongan aset untuk                                                     assets by class of assets for all financial assets
        semua aset keuangan yang mempunyai risiko                                                    with credit risk (gross of allowance for impairment
        kredit (diluar cadangan kerugian penurunan nilai                                             losses):
        bruto):
                                                                     31 Desember/December 31, 2023

                                                   Belum jatuh tempo dan          Jatuh tempo
                                                tidak mengalami penurunan          dan tidak
                                                   nilai/neither past due          mengalami
                                                         nor impaired              penurunan
                                                                                      nilai/        Mengalami
                                                                    Tingkat         Past due        penurunan
                                               Tingkat tinggi/      standar/         but not          nilai/
                                                High Grade**)    Standard grade**) Impaired         Impaired***)         Total

         Efek-efek                                                                                                                                          Securities
           Diukur pada nilai wajar                                                                                                                Fair value through
              melalui laporan laba rugi             1.042.013                 -                 -                  -     1.042.013                  profit -or-loss
                                                                                                                                         Financial assets held at fair
           Diukur pada nilai wajar melalui                                                                                                    value through other
             penghasilan komprehensif lain          1.928.336                 -                 -                  -     1.928.336        comprehensive income
           Diukur pada biaya perolehan
             amortisasi                             2.335.524                 -                 -                  -     2.335.524                   Amortized cost

         Obligasi pemerintah                                                                                                                     Government bonds
           Diukur pada nilai wajar                                                                                                                Fair value through
              melalui laba rugi                     3.796.440                 -                 -                  -     3.796.440                  profit -or-loss
                                                                                                                                         Financial assets held at fair
           Diukur pada nilai wajar melalui                                                                                                    value through other
             penghasilan komprehensif lain         12.511.991                 -                 -                  -    12.511.991        comprehensive income
           Diukur pada biaya perolehan
            amortisasi                             19.585.498                 -                 -                  -    19.585.498                Amortized cost
         Lain-lain                                                                                                                                            Others
                                                                                                                                           Current accounts with
           Giro pada bank Indonesia                18.145.761                 -                 -                  -    18.145.761            Bank Indonesia
                                                                                                                                                Current accounts
           Giro pada bank lain                      2.201.620                 -                 -          1.778         2.203.398           with other banks
           Penempatan pada                                                                                                                      Placements with
             Bank Indonesia                                                                                                                   Bank Indonesia
             dan bank lain                         30.561.122                 -                 -                  -    30.561.122           and other banks
           Tagihan Akseptasi                          544.567                 -                 -                  -       544.567        Acceptance Receivable
           Tagihan Derivatif                           32.176                 -                 -                  -        32.176         Derivative Receivable
           Kredit yang diberikan
             dan piutang/                                                                                                                        Loans and sharia
             pembiayaan syariah                                                                                                          financing/ receivables
                 Konsumer                                                                                                                          Consumer
                     Pemilikan rumah              101.324.869       135.794.934     16.884.060         4.067.018       258.070.881           Housing loan
                     Non kepemilikan
                         rumah                      1.808.716        10.021.561        805.808           370.496        13.006.581     Non-housing loan
                Modal kerja                         3.213.787        22.252.701        711.771        11.781.870        37.960.129           Working capital
                 Investasi                            123.007         9.606.196         44.474         5.758.330        15.532.007               Investment
                 Sindikasi                             46.911         7.103.450              -                 -         7.150.361               Syndicated
                 Direksi dan karyawan                                                                                              Directors and employees
                       - Pihak ketiga               1.131.978          729.456           7.472            24.726         1.893.632         Third parties -
                       - Pihak yang berelasi           53.307           31.243               -                 -            84.550      Related parties -
           Bunga yang masih
             akan diterima                         11.526.687                 -                 -                  -    11.526.687            Interests receivable
           Aset lain-lain*)                         1.873.496                 -                 -                  -     1.873.496                  Other assets*)

         Total                                    213.787.806       185.539.541     18.453.585        22.004.218       439.785.150                               Total

         Cadangan kerugian                                                                                                                              Allowance for
           nilai                                                                                                       (15.640.547)               impairment losses

         Neto                                                                                                          424.144.603                                   Net


           *) Terdiri atas tagihan kepada pihak ketiga                                                *) Consists of third party receivables
           **) Tidak diaudit                                                                          **) Unaudited
           ***) Terdiri dari kolektibilitas 3, 4 dan 5 dan kredit yang                               ***) Consist of collectibility 3, 4, and 5 and credit with
                cadangan kerugian penurunan nilainya dinilai                                               allowance for impairment losses individually assessed,
                secara individual, termasuk piutang/pembiayaan                                             including sharia financing/receivables with day past
                syariah dengan hari tunggakan diatas 270 hari                                              due 270 days




                                                                             257
Page 654
                                                                                           The original financial statements included herein are in the
                                                                                                                                 Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                    PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                            As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                      and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                         (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                        46. RISK MANAGEMENT (continued)

   Risiko Kredit (lanjutan)                                                                 Credit Risk (continued)
   (iv) Tabel di bawah menunjukkan kualitas aset                                                (iv) The tables below shows the quality of financial
        keuangan berdasarkan golongan aset untuk                                                     assets by class of assets for all financial assets
        semua aset keuangan yang mempunyai risiko                                                    with credit risk (gross of allowance for impairment
        kredit (diluar cadangan kerugian penurunan nilai                                             losses) (continued):
        bruto) (lanjutan):

                                                                     31 Desember/December 31, 2022

                                                   Belum jatuh tempo dan          Jatuh tempo
                                                tidak mengalami penurunan          dan tidak
                                                   nilai/neither past due          mengalami
                                                         nor impaired              penurunan
                                                                                      nilai/        Mengalami
                                                                    Tingkat         Past due        penurunan
                                               Tingkat tinggi/      standar/         but not          nilai/
                                                High Grade**)    Standard grade**) Impaired         Impaired***)          Total

         Efek-efek                                                                                                                                           Securities
           Diukur pada nilai wajar                                                                                                                 Fair value through
              melalui laporan laba rugi              793.831                  -                 -                  -        793.831                  profit -or-loss
                                                                                                                                          Financial assets held at fair
           Diukur pada nilai wajar melalui                                                                                                     value through other
             penghasilan komprehensif lain            655.293                 -                 -                  -        655.293        comprehensive income
           Diukur pada biaya perolehan
             amortisasi                               272.044                 -                 -          2.000            274.044                   Amortized cost

         Obligasi pemerintah                                                                                                                      Government bonds
           Diukur pada nilai wajar                                                                                                                 Fair value through
              melalui laba rugi                    19.591.199                 -                 -                  -     19.591.199                  profit -or-loss
                                                                                                                                          Financial assets held at fair
           Diukur pada nilai wajar melalui                                                                                                     value through other
             penghasilan komprehensif lain         14.332.949                 -                 -                  -     14.332.949        comprehensive income
           Diukur pada biaya perolehan
            amortisasi                             18.040.825                 -                 -                  -     18.040.825                Amortized cost
         Lain-lain                                                                                                                                               Others
                                                                                                                                            Current accounts with
           Giro pada bank Indonesia                25.416.941                 -                 -                  -     25.416.941            Bank Indonesia
                                                                                                                                                 Current accounts
           Giro pada bank lain                      1.470.526                 -                 -          1.731          1.472.257           with other banks
           Penempatan pada                                                                                                                       Placements with
             Bank Indonesia                                                                                                                    Bank Indonesia
             dan bank lain                         12.975.955                 -                 -                  -     12.975.955           and other banks
           Tagihan Akseptasi                          420.562                 -                 -                  -        420.562        Acceptance Receivable
           Efek-efek yang Dibeli                                                                                                             Securities purchased
             dengan janji                                                                                                                     under agreement
             dijual kembali                         1.434.190                 -                 -                  -      1.434.190                     to resell
           Tagihan Derivatif                          103.939                 -                 -                  -        103.939         Derivative Receivable
           Kredit yang diberikan
             dan piutang/                                                                                                                         Loans and sharia
             pembiayaan syariah                                                                                                           financing/ receivables
                 Konsumer                                                                                                                           Consumer
                     Pemilikan rumah              106.290.471       109.503.902     15.481.718         2.610.963        233.887.054           Housing loan
                     Non kepemilikan
                         rumah                      2.560.043         8.260.912        650.143           218.560         11.689.658     Non-housing loan
                Modal kerja                         5.987.718        17.130.097      1.162.221        10.175.647         34.455.683           Working capital
                 Investasi                          3.397.768         2.863.506        155.160         5.227.188         11.643.622               Investment
                 Sindikasi                          2.055.846         2.448.398              -                 -          4.504.244               Syndicated
                 Direksi dan karyawan                                                                                               Directors and employees
                       - Pihak ketiga               1.331.455          653.854          10.891            11.880          2.008.080         Third parties -
                       - Pihak yang berelasi           72.047           20.553             655               108             93.363      Related parties -
           Bunga yang masih
             akan diterima                         10.750.302                 -                 -                  -     10.750.302            Interests receivable
           Aset lain-lain*)                         1.040.048                 -                 -                   -     1.040.048                  Other assets*)

         Total                                    228.993.952       140.881.222     17.460.788        18.248.077        405.584.039                               Total

         Cadangan kerugian                                                                                                                               Allowance for
           nilai                                                                                                        (15.674.205)               impairment losses

         Neto                                                                                                           389.909.834                                   Net


           *) Terdiri atas tagihan kepada pihak ketiga                                                *) Consists of third party receivables
           **) Tidak diaudit                                                                          **) Unaudited
           ***) Terdiri dari kolektibilitas 3, 4 dan 5 dan kredit yang                               ***) Consist of collectibility 3, 4, and 5 and credit with
                cadangan kerugian penurunan nilainya dinilai                                               allowance for impairment losses individually assessed,
                secara individual, termasuk piutang/pembiayaan                                             including sharia financing/receivables with day past
                syariah dengan hari tunggakan diatas 270 hari                                              due 270 days




                                                                             258
Page 655
                                                                 The original financial statements included herein are in the
                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                      unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                46. RISK MANAGEMENT (continued)

   Risiko Kredit (lanjutan)                                       Credit Risk (continued)

   (iv) Tabel di bawah menunjukkan kualitas aset                  (iv) The tables below shows the quality of financial
        keuangan berdasarkan golongan aset untuk                       assets by class of assets for all financial assets
        semua aset keuangan yang mempunyai risiko                      with credit risk (gross of allowance for
        kredit (cadangan kerugian penurunan nilai                      impairment losses) (continued):
        bruto) (lanjutan):
       Kualitas kredit didefinisikan sebagai berikut:                   The credit quality is defined as follows:

       Tingkat tinggi                                                   High grade

       (a)   Giro pada Bank Indonesia, giro pada bank                   (a) Current accounts with Bank Indonesia,
             lain, penempatan pada Bank Indonesia                           current accounts with other banks,
             dan bank lain yaitu giro atau penempatan                       placements with Bank Indonesia and other
             pada institusi Pemerintah, transaksi                           banks are current accounts or placements
             dengan bank yang memiliki reputasi baik                        with government institution, transaction
             dengan tingkat kemungkinan gagal bayar                         with reputable banks with low probability of
             atas kewajiban yang rendah.                                    default for its liabilities.

       (b)   Kredit yang diberikan dan piutang/                          (b) Loans and sharia financing/receivables,
             pembiayaan syariah, bunga yang masih                            interests receivables and third party
             akan diterima, dan tagihan kepada pihak                         receivables     are   receivables   from
             ketiga yaitu debitur dengan riwayat                             borrowers with very satisfactory track
             pembayaran yang sangat baik dan tidak                           record of loan repayment and whose
             pernah menunggak sepanjang jangka                               accounts did not turn past due during the
             waktu kredit.                                                   term of the loan.

       (c)   Efek-efek dan obligasi pemerintah yaitu                   (b)   Securities and government bonds are
             efek-efek   yang     dikeluarkan  oleh                          Sovereign     securities    issued    by
             Pemerintah RI, efek-efek dan obligasi                           government of RI, investment grade
             yang termasuk dalam investment grade                            securities and bonds with a rating of at
             dengan rating minimal BBB- (Pefindo)                            least BBB- (Pefindo) or Baa3 (Moody’s).
             atau Baa3 (Moody’s).

       Tingkat standar                                                 Standard grade

       (a) Giro pada Bank Indonesia, giro pada bank                    (a)   Current accounts with Bank Indonesia,
           lain, penempatan pada Bank Indonesia                              current accounts with other banks,
           dan bank lain yaitu giro atau penempatan                          placements with Bank Indonesia and other
           pada bank lokal yang tidak terdaftar di                           banks are current accounts or placements
           bursa.                                                            with the local banks not listed in the stock
                                                                             exchange.

       (b) Kredit yang diberikan dan piutang/                          (b)   Loans and sharia financing/receivables,
           pembiayaan syariah, bunga yang masih                              interests receivables and third party
           akan diterima, dan tagihan kepada pihak                           receivables    are    receivables     from
           ketiga yaitu debitur dengan riwayat                               borrowers who have an average track
           pembayaran yang baik dan tidak pernah                             record of loan repayment and whose
           menunggak 90 hari atau lebih.                                     account did not turn past due for 90 days.

       (c) Efek-efek dan obligasi Pemerintah yaitu                     (c) Securities and Government bonds with a
           efek-efek dan obligasi dengan rating antara                     rating between idBB+ to idB (Pefindo) or
           idBB+ sampai dengan idB (Pefindo) atau                          Ba1 to B2 (Moody’s).
           Ba1 sampai dengan B2 (Moody’s).




                                                         259
Page 656
                                                                                                  The original financial statements included herein are in the
                                                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                          PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                 NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                  As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                            and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                               (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                      unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                46. RISK MANAGEMENT (continued)
   Risiko Kredit (lanjutan)                                                                        Credit Risk (continued)
   (v) Analisis umur pinjaman yang jatuh tempo tetapi                                               (v) The aging analysis of past due but not impaired
       tidak mengalami penurunan nilai pada tanggal                                                     loans as of December 31, 2023 and 2022,
       31 Desember 2023 dan 2022, sebagai berikut:                                                      follows:
                                                                        31 Desember/December 31, 2023
                                                                                                                         _

                                        1 sampai           91 sampai           121 sampai           180 sampai
                                         90 hari/           120 hari/            180 hari/           270 hari/
                                      1 to 90 days       91 to 120 days       121 to 180 days     180 to 270 days              Total

  Konsumer                                                                                                                                                               Consumer
     Pemilikan rumah                     14.498.880                469.405          1.030.681             885.094               16.884.060                          Housing Loan
     Non kepemilikan rumah                  803.340                  1.013              1.455                   -                  805.808                      Non housing loan
  Modal kerja                               711.771                      -                  -                   -                  711.771                          Working capital
  Investasi                                  44.474                      -                  -                   -                   44.474                              Investment
  Direktur dan karyawan                       7.472                      -                  -                   -                    7.472               Directors and employees

  Total                                  16.065.937                470.418          1.032.136             885.094               18.453.585                                      Total

  Cadangan kerugian                                                                                                                                                   Allowance for
    nilai                                                                                                                       (2.018.432)                     impairment losses

  Neto                                                                                                                          16.435.153                                        Net

                                                                        31 Desember/December 31, 2022
                                                                                                                         _

                                        1 sampai           91 sampai           121 sampai           180 sampai
                                         90 hari/           120 hari/            180 hari/           270 hari/
                                      1 to 90 days       91 to 120 days       121 to 180 days     180 to 270 days              Total

  Konsumer                                                                                                                                                                Consumer
     Pemilikan rumah                     13.190.989                384.038          1.021.398             885.293               15.481.718                          Housing Loan
     Non kepemilikan rumah                  613.666                    638             14.288              21.551                  650.143                      Non housing loan
  Modal kerja                               719.359                      -             12.786             430.076                1.162.221                           Working capital
  Investasi                                  81.655                      -              1.191              72.314                  155.160                               Investment
  Direktur dan karyawan                       9.513                      -                851               1.182                   11.546                 Directors and employees

  Total                                  14.615.182                384.676          1.050.514           1.410.416               17.460.788                                      Total

  Cadangan kerugian                                                                                                                                                   Allowance for
    nilai                                                                                                                       (1.918.975)                     impairment losses

  Neto                                                                                                                          15.541.813                                        Net




   (vi)     Mutasi cadangan berdasarkan jenis kredit                                               (vi) Movements in allowance for imparment losses
            yang diberikan adalah sebagai berikut:                                                      by type of loans are as follows:

                                                                       31 Desember/December 31, 2023

                                             Konsumsi/Konsumer
                                 Pemilikan       Non-kepemilikan     Modal                                          Direksi dan
                                  Rumah/            Rumah/           Kerja/                                         Karyawan/
                                 Housing          Non-Housing       Working       Investasi/      Sindikasi/       Directors and
                                   Loan              Loan           Capital      Investment      Syndicated          Employee            Total


  Saldo Awal                        6.364.735         264.372        7.490.645      1.526.614           15.493               13.064      15.674.923                Beginning balance
  Penyisihan kerugian                                                                                                                                                       Provision for
      penurunan nilai                                                                                                                                            impairment losses
      selama tahun berjalan         1.917.338         182.897         643.587        125.307             6.880               31.835       2.907.844                 during the year
  Penerimaan kembali kredit
   yang telah dihapus-bukukan          17.442            3.867          44.098         11.658                  -                   -          77.065        Recovery of loans written-off
  Penghapusbukuan kredit          (1.388.988)        (170.805)     (1.411.193)       (88.181)                  -             (8.701)     (3.067.868)                   Loans written-off

   Saldo akhir tahun                6.910.527         280.331        6.767.137      1.575.398           22.373               36.198      15.591.964         Balance at the end of year


  Penurunan nilai individual          597.521          31.471        5.134.111      1.390.288                -                4.182       7.157.573                Individual impairment
  Penurunan nilai kolektif          6.313.006         248.860        1.633.026        185.110           22.373               32.016       8.434.391                Collective impairment

  Jumlah kotor kredit yang
   secara individu ditentukan
   sebagai mengalami penurunan                                                                                                                                     Gross amount of loans
   nilai sebelum dikurangi                                                                                                                                 individually determined to
   kerugian penurunan nilai                                                                                                                            be impaired. before deducting
   atas penilaian secara                                                                                                                                   any individually assessed
   individual                        621.615           33.934        9.696.781      5.455.467                  -              3.815      15.811.612                impairment losses




                                                                                  260
Page 657
                                                                                               The original financial statements included herein are in the
                                                                                                                                     Indonesian language.

PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                         PT BANK TABUNGAN NEGARA (PERSERO) TBK
    CATATAN ATAS LAPORAN KEUANGAN                                                                NOTES TO THE FINANCIAL STATEMENTS
     Tanggal 31 Desember 2023 dan untuk                                                                 As of December 31, 2023
  Tahun yang Berakhir pada Tanggal Tersebut                                                           and for the Year Then Ended
       (Disajikan dalam jutaan Rupiah,                                                              (Expressed in millions of Rupiah,
           kecuali dinyatakan lain)                                                                     unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                               46. RISK MANAGEMENT (continued)
    Risiko Kredit (lanjutan)                                                                      Credit Risk (continued)

    (vi)     Mutasi cadangan berdasarkan jenis kredit                                             (vi) Movements in allowance for imparment losses
             yang diberikan adalah sebagai berikut:                                                    by type of loans are as follows: (continued)
             (lanjutan)
                                                                     31 Desember/December 31, 2022
                                                                                                                        _
                                        Konsumsi/Konsumer
                                Pemilikan      Non-kepemilikan    Modal                                          Direksi dan
                                 Rumah/           Rumah/          Kerja/                                         Karyawan/
                                Housing         Non-Housing      Working        Investasi/     Sindikasi/       Directors and
                                  Loan             Loan          Capital       Investment     Syndicated          Employee       Total



 Saldo Awal                        4.296.939        309.075       8.485.819       1.302.032           7.618             34.277   14.435.760                Beginning balance
 Penyisihan kerugian                                                                                                                                              Provision for
  penurunan nilai                                                                                                                                         impairment losses
  selama tahun berjalan            3.420.001         69.993          38.379        495.348            7.875              7.911    4.039.507                  during the year
 Penerimaan kembali kredit
  yang telah dihapus-bukukan          11.764           3.838          49.698          6.416                 -                -        71.716       Recovery of loans written-off
 Penghapusbukuan kredit          (1.363.969)       (118.534)     (1.083.251)      (277.182)                 -         (29.124)   (2.872.060)                  Loans written-off

 Saldo akhir tahun                 6.364.735        264.372       7.490.645       1.526.614          15.493             13.064   15.674.923        Balance at the end of year

 Penurunan nilai individual          889.594         86.221       4.902.353       1.331.382               -              1.229    7.210.779               Individual impairment
 Penurunan nilai kolektif          5.475.141        178.151       2.588.292         195.232          15.493             11.835    8.464.144               Collective impairment

 Jumlah kotor kredit yang
  secara individu ditentukan
  sebagai mengalami penurunan                                                                                                                            Gross amount of loans
  nilai sebelum dikurangi                                                                                                                          individually determined to
  kerugian penurunan nilai                                                                                                                     be impaired. before deducting
  atas penilaian secara                                                                                                                            any individually assessed
  individual                        893.068          85.794       8.057.392       5.078.192                 -            1.108   14.115.554                impairment losses




  Risiko Likuiditas                                                                             Liquidity Risk

  Risiko Likuiditas merupakan risiko akibat                                                     Liquidity risk is the risk arising from the inability of
  ketidakmampuan Bank untuk memenuhi kewajiban                                                  the Bank to meet the maturing obligations from cash
  yang jatuh tempo dari sumber pendanaan arus kas                                               flow funding sources and/or from high-quality liquid
  dan/atau dari aset likuid berkualitas tinggi yang                                             assets that can be pledged, without disturbing the
  dapat diagunkan, tanpa mengganggu aktivitas dan                                               activities and financial condition of the Bank. The
  kondisi    keuangan     Bank.   Ketidakmampuan                                                inability to obtain funding for cash flows resulting to
  memperoleh sumber pendanaan arus kas sehingga                                                 liquidity risk can be contributed, among others, by:
  menimbulkan Risiko Likuiditas dapat disebabkan
  antara lain oleh:

  a.       Ketidakmampuan menghasilkan arus kas yang                                             a. Inability to generate cash flows from productive
           berasal dari aset produktif maupun yang                                                  assets as well as from the sale of assets,
           berasal dari penjualan aset termasuk aset                                                including liquid assets; and/or
           likuid; dan/atau

  b.       Ketidakmampuan menghasilkan arus kas yang                                             b. Inability to generate cash flows from funding,
           berasal dari penghimpunan dana, transaksi                                                inter-bank transactions and fund borrowings.
           antar Bank, dan pinjaman yang diterima.




                                                                               261
Page 658
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                   46. RISK MANAGEMENT (continued)

   Risiko Likuiditas (lanjutan)                                      Liquidity Risk (continued)

   Secara umum, tujuan utama manajemen risiko                        In general, the main objective of risk management
   untuk risiko likuiditas adalah untuk meminimalkan                 for liquidity risk is to minimize the possibility of the
   kemungkinan ketidakmampuan Bank dalam                             Bank's inability to obtain source of cash flow funding.
   memperoleh sumber pendanaan arus kas. Dengan                      Thus, the Bank can meet some financial obligations
   demikian Bank dapat memenuhi setiap kewajiban                     that have been agreed upon in a timely manner, and
   finansial yang sudah diperjanjikan secara tepat                   to always be able to maintain adequate and optimal
   waktu, dan agar senantiasa dapat memelihara                       levels of liquidity. Liquidity risk management policies
   tingkat likuiditas yang memadai dan optimal.                      include the active supervision of the Board Of
   Kebijakan pengelolaan risiko likuiditas antara lain               Commisioners and Board Of Directors who basically
   mencakup pengawasan aktif Dewan Komisaris dan                     set the implementation of the Bank's liquidity risk
   Direksi, yang pada intinya mengatur penerapan                     management, policy, procedures and determination
   Manajemen Risiko likuiditas pada Bank, Kebijakan,                 of limits, which generally includes the liquidity risk
   Prosedur dan Penetapan Limit yang secara umum                     management strategy, level of risk to be taken (risk
   mencakup strategi manajemen risiko likuiditas,                    appetite) and risk tolerance, and risk management
   tingkat risiko yang akan diambil (risk appetite) dan              process, information systems and internal control
   toleransi risiko (risk tolerance) dan Sistem Informasi            systems by implementing internal controls and
   Manajemen Risiko serta Sistem Pengendalian                        adequate independent review of the risk
   Internal dengan menerapkan pengendalian internal                  management implementation for liquidity risk which
   dan kaji ulang independen yang memadai terhadap                   are being carried out by the Management and
   penerapan Manajemen Risiko untuk Risiko likuiditas                conducted by the Internal Audit Division (IAD) and
   yang dilaksanakan oleh Internal Audit Division (IAD)              Enterprise Risk Management Division (ERMD).
   dan Enterprise Risk Management Division (ERMD).

   Pengendalian risiko likuiditas melalui strategi                   Liquidity risk management is being carried out
   pendanaan, pengelolaan posisi likuiditas dan                      through funding strategy, liquidity positions and
   pemantauan risiko likuiditas harian, pengelolaan                  monitoring of daily liquidity, management of high
   aset likuid yang berkualitas tinggi, dan rencana                  quality liquid assets, planning the emergency
   pendanaan darurat serta penerapan sistem                          funding as well as implementation of a sound risk
   informasi manajemen risiko secara wajar untuk                     management information system to support the
   mendukung pelaksanaan proses identifikasi,                        process of identification, measurement, monitoring
   pengukuran, pemantauan, dan pengendalian, serta                   and control, as well as reporting of liquidity risk under
   pelaporan risiko likuiditas dalam kondisi normal dan              normal and extreme conditions in a comprehensive,
   kondisi krisis secara lengkap, akurat, terkini dan                accurate, timely and sustainable manner.
   berkesinambungan.

   Alat pengukuran yang digunakan dalam pengukuran                   The tools used in the measurement of liquidity risk
   Risiko Likuiditas antara lain adalah Rasio Likuiditas,            among others are Liquidity Ratio, Maturity Profile,
   Profil Maturitas, Proyeksi Arus Kas, dan Stress                   Cash Flow Projection, and Stress Testing (testing
   Testing (pengujian terhadap kemampuan Bank                        the Bank's ability to meet liquidity needs on a state
   untuk memenuhi kebutuhan likuiditas pada kondisi                  of crisis by using the specific stress scenarios on the
   krisis dengan menggunakan skenario stress secara                  Bank as well as on the market factor).
   spesifik pada Bank maupun skenario stress pada
   faktor pasar).




                                                            262
Page 659
                                                                                                                   The original financial statements included herein are in the
                                                                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                                       unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                               46. RISK MANAGEMENT (continued)

    Risiko Likuiditas (lanjutan)                                                                                    Liquidity Risk (continued)

    Tabel jatuh tempo berikut menyajikan informasi                                                                   The following maturity tables provide information
    mengenai perkiraan sisa jatuh tempo dari aset dan                                                                about the expected maturities of the Bank’s financial
    liabilitas keuangan:                                                                                             assets and liabilities:

                                                                                     31 Desember/December 31, 2023

                                                                                                                              > 6 - 12
                                                                                                          >1-6                Bulan/
                                                              Lainnya/            ≤ 1 Bulan/              Bulan/              >6 - 12             > 12 Bulan/
                                            Total             Others *)           ≤ 1 Month               Months              Months              >12 Months

  ASET                                                                                                                                                                                            ASSETS
  Kas                                       2.127.489                       -          2.127.489                     -                     -                       -                                 Cash
  Giro pada                                                                                                                                                                          Current accounts with
      Bank Indonesia                      18.145.761                        -        18.145.761                      -                     -                       -                     Bank Indonesia
                                                                                                                                                                                     Current accounts with
  Giro pada bank lain                       2.201.594               (1.804)            2.203.398                     -                     -                       -                        other banks
  Penempatan pada                                                                                                                                                                         Placements with
      Bank Indonesia                                                                                                                                                                     Bank Indonesia
      dan bank lain                       30.561.122                     -           30.561.122                     -                   -                      -                        and other banks
  Efek-efek                                5.282.970              (22.903)            2.979.680               389.173              50.000              1.887.020                                 Securities
  Obligasi Pemerintah                     35.893.929                     -            7.777.100             3.644.949           1.339.247             23.132.633                       Government bonds
  Tagihan Akseptasi                          520.691              (23.876)              544.567                     -                   -                      -                    Acceptance Receivable
  Tagihan Derivatif                           32.176                     -                     -                    -                   -                 32.176                    Derivative Receivables
  Kredit yang diberikan dan
      pembiayaan/piutang                                                                                                                                                                   Loans and sharia
      syariah                            318.106.177         (15.591.964)              4.924.164            3.585.313           6.396.209           318.792.455                     financing/receivables
  Bunga yang masih akan
      diterima                            11.526.687                        -        11.526.687                      -                     -                       -                       Interest receivable
  Aset lain-lain**)                        1.873.496                        -         1.873.496                      -                     -                       -                           Other assets**)

  Total                                  426.272.092         (15.640.547)            82.663.464             7.619.435           7.785.456           343.844.284                                            Total


  LIABILITAS                                                                                                                                                                                   LIABILITIES
  Liabilitas segera ***)                   2.567.271                        -         2.567.271                     -                  -                        -            Liabilities due immediately***)
  Simpanan nasabah                       322.501.148                        -       225.525.422            78.653.684         18.036.635                  285.407                 Deposits from customers
  Simpanan dari bank lain                     91.312                        -            91.312                       -                -                        -               Deposits from other banks
  Surat berharga yang
      diterbitkan                          8.272.098                         -                 -            1.698.524           1.811.017              4.762.557                          Securities issued
  Liabilitas akseptasi                       544.567                        -            362.394              182.173                   -                      -                        Acceptance payable
  Liabilitas Derivatif                             -                        -                  -                    -                    -                     -                         Derivative payable
  Pinjaman yang diterima                  33.762.089                         -                 -            6.139.851           6.454.998             21.167.240                           Fund borrowings
  Bunga yang masih harus
      dibayar                                 647.496                        -           647.496                     -                     -                       -                       Interest payables
  Liabilitas lain-lain****)                   521.548                       -            521.548                     -                     -                       -                      Other liabilities****)
  Pinjaman dan efek-                                                                                                                                                                      Subordinated Loan
  efek subordinasi                          9.112.837                       -                       -                -                     -           9.112.837                                   Securities

  Total                                  378.020.366                        -       229.715.443            86.674.232         26.302.650              35.328.041                                           Total

  Perbedaan jatuh tempo                   48.251.726         (15.640.547)         (147.051.979)           (79.054.797)       (18.517.194)           308.516.243                                  Maturity gap




    *)      Cadangan kerugian penurunan nilai atas aset keuangan.                                                    *)      Allowance for impairment losses on financial assets.
    **)     Terdiri atas tagihan pihak ketiga.                                                                       **)     Consists of third party receivables.
    ***)    Terdiri atas kewajiban kepada pihak ketiga, bagi hasil yang belum dibagikan, deposito                    ***)    Consists of third party payables, undistributed profit sharing, matured time deposits
            berjangka jatuh tempo dan bunga atas deposito berjangka namun belum diambil                                      and interest on time deposits not collected by customers.
            nasabah.
    ****)   Terdiri atas setoran jaminan dan dana jaminan pengembang (kewajiban kepada pihak                         ****)   Consists of guarantee deposits and developers’ security deposits (liabilities to third
            ketiga).                                                                                                         party).




                                                                                                    263
Page 660
                                                                                                                   The original financial statements included herein are in the
                                                                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                                       unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                               46. RISK MANAGEMENT (continued)

    Risiko Likuiditas (lanjutan)                                                                                    Liquidity Risk (continued)

    Tabel jatuh tempo berikut menyajikan informasi                                                                  The following maturity tables provide information
    mengenai perkiraan sisa jatuh tempo dari aset dan                                                               about the expected maturities of the Bank’s financial
    liabilitas keuangan (lanjutan):                                                                                 assets and liabilities (continued):
                                                                                     31 Desember/December 31, 2022

                                                                                                                             > 6 - 12
                                                                                                          >1-6               Bulan/
                                                              Lainnya/            ≤ 1 Bulan/              Bulan/             >6 - 12             > 12 Bulan/
                                            Total             Others *)           ≤ 1 Month               Months             Months              >12 Months

  ASET                                                                                                                                                                                            ASSETS
  Kas                                       1.661.533                       -          1.661.533                     -                    -                       -                                  Cash
  Giro pada                                                                                                                                                                           Current accounts with
      Bank Indonesia                      25.416.941                        -        25.416.941                      -                    -                       -                      Bank Indonesia
                                                                                                                                                                                      Current accounts with
  Giro pada bank lain                       1.470.510               (1.747)            1.472.257                     -                    -                       -                         other banks
  Penempatan pada                                                                                                                                                                          Placements with
      Bank Indonesia                                                                                                                                                                     Bank Indonesia
      dan bank lain                       12.975.955                      -          12.975.955                     -                  -                      -                         and other banks
  Efek-efek                                1.720.769                (2.399)           1.455.405                 8.260             82.165                177.338                                  Securities
  Obligasi Pemerintah                     51.964.973                      -          37.540.672             3.266.511            512.540             10.645.250                         Government bonds
  Efek-efek yang dibeli
      dengan janji                                                                                                                                                             Securities purchased under
      dijual kembali                        1.434.190                     -            1.434.190                    -                  -                      -                        agreement to resell
  Tagihan Akseptasi                           420.426                 (136)               80.697              339.865                  -                      -                   Acceptance Receivable
  Tagihan Derivatif                           103.939                     -               43.543               29.284            512.540             10.645.250                   Derivative Receivables
  Kredit yang diberikan dan
      pembiayaan/piutang                                                                                                                                                                  Loans and sharia
      syariah                            282.606.781         (15.674.923)              5.336.769            4.811.050          5.887.466           282.246.419                     financing/receivables
  Bunga yang masih akan
      diterima                            10.750.302                        -        10.750.302                      -                    -                       -                       Interest receivable
  Aset lain-lain**)                        1.040.048                        -         1.040.048                      -                    -                       -                           Other assets**)

  Total                                  391.566.367         (15.679.205)            99.208.312             8.454.970          6.994.711           303.714.257                                            Total


  LIABILITAS                                                                                                                                                                                  LIABILITIES
  Liabilitas segera ***)                   2.588.471                        -         2.588.471                     -                  -                      -             Liabilities due immediately***)
  Simpanan nasabah                       297.099.801                        -       174.667.266            58.829.356          9.198.718             54.404.461                  Deposits from customers
  Simpanan dari bank lain                    136.408                        -           136.408                     -                  -                      -                Deposits from other banks
  Surat berharga yang
      diterbitkan                          8.652.260                        -                   -           1.999.919           725.924               5.926.417                          Securities issued
  Liabilitas Derivatif                             -                        -                   -                   -                  -                      -                        Derivative Liabilities
  Liabilitas akseptasi                       420.562                        -            80.697               339.865                  -                      -                        Acceptance payable
  Pinjaman yang diterima                  24.821.005                        -            499.997                    -          2.000.000             22.321.008                           Fund borrowings
  Bunga yang masih harus
      dibayar                                 629.366                       -            629.366                     -                    -                       -                       Interest payables
  Liabilitas lain-lain****)                 4.690.821                       -          4.690.821                     -                    -                       -                      Other liabilities****)
  Pinjaman dan efek-                                                                                                                                                                     Subordinated Loan
  efek subordinasi                          9.158.219                       -                       -                -                    -           9.158.219                                   Securities

  Total                                  348.196.913                        -       183.293.026            61.169.140        11.924.642              91.810.105                                           Total

  Perbedaan jatuh tempo                   43.369.454         (15.679.205)           (84.084.714)          (52.714.170)        (4.929.931)          211.904.152                                  Maturity gap




    *)      Cadangan kerugian penurunan nilai atas aset keuangan.                                                   *)      Allowance for impairment losses on financial assets.
    **)     Terdiri atas tagihan pihak ketiga.                                                                      **)     Consists of third party receivables.
    ***)    Terdiri atas kewajiban kepada pihak ketiga, bagi hasil yang belum dibagikan, deposito                   ***)    Consists of third party payables, undistributed profit sharing, matured time deposits
            berjangka jatuh tempo dan bunga atas deposito berjangka namun belum diambil                                     and interest on time deposits not collected by customers.
            nasabah.
    ****)   Terdiri atas setoran jaminan dan dana jaminan pengembang (kewajiban kepada pihak                        ****)   Consists of guarantee deposits and developers’ security deposits (liabilities to third
            ketiga).                                                                                                        party).




                                                                                                    264
Page 661
                                                                                                                 The original financial statements included herein are in the
                                                                                                                                                       Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                                    unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                           46. RISK MANAGEMENT (continued)
    Risiko Likuiditas (lanjutan)                                                                                  Liquidity Risk (continued)
    Tabel di bawah ini menunjukkan sisa jatuh tempo                                                               The tables below show the remaining contractual
    kontraktual dari liabilitas keuangan berdasarkan                                                              maturities of financial liabilities based on
    pada arus kas yang tidak didiskonto (pokok dan                                                                undiscounted cashflows (principal and interest):
    bunga):
                                                                                   31 Desember/December 31, 2023

                                                                                                        >1-6            > 6 - 12
                                                                                ≤ 1 Bulan/              Bulan/          Bulan/               > 12 Bulan/
                                          Total          On demand                Month                 Months          Months                 Months

  LIABILITAS                                                                                                                                                                             LIABILITIES
  Liabilitas segera*)                     2.567.271                       -          2.567.271                    -                   -                      -          Liabilities due immediately*)
  Simpanan nasabah                                                                                                                                                         Deposits from customers
      Deposito berjangka               141.895.950                    -            90.316.293           40.542.872       10.987.612                 49.173                           Time deposits
      Tabungan                          38.998.753           38.998.753                     -                    -                -                      -                        Savings deposits
      Giro                             142.808.756           78.489.050                     -                    -                -             64.319.706                       Demand deposits
  Simpanan dari bank lain                   91.312               91.312                                          -                -                      -                Deposits from other banks
  Liabilitas akseptasi                     544.567                    -                544.567                   -                -                                               Acceptance payable
  Liabiltias derivatif                           -                    -                      -                   -                -                          -                    Derivative Liabilities
  Surat berharga yang
      diterbitkan                        9.453.602                        -             75.426           1.935.160           2.085.568           5.357.448                           Securities issued
  Pinjaman yang diterima                43.613.659                        -            125.750           6.751.324           8.120.580          28.616.005                           Fund borrowings
  Bunga yang masih harus
      dibayar                               647.496                       -            647.496                    -                   -                      -                     Interest payables
  Liabilitas lain-lain**)                   521.548                       -            521.548                    -                   -                      -                     Other liabilities**)
  Pinjaman Subordinasi dan                                                                                                                                                    Subordinated Loan and
      Efek-efek subordinasi               9.825.769                       -              47.979            239.897           3.287.876           6.250.017                        and securities

  Total                                390.968.683         117.579.115             94.846.330           49.469.253       24.481.636           104.592.349                                          Total



                                                                                   31 Desember/December 31, 2022

                                                                                                        >1-6            > 6 - 12
                                                                                ≤ 1 Bulan/              Bulan/          Bulan/               > 12 Bulan/
                                          Total          On demand                Month                 Months          Months                 Months

  LIABILITAS                                                                                                                                                                             LIABILITIES
  Liabilitas segera*)                     2.588.471                       -          2.588.471                    -                   -                      -          Liabilities due immediately*)
  Simpanan nasabah                                                                                                                                                         Deposits from customers
      Deposito berjangka               148.981.512                    -            66.763.135           59.616.536           9.631.572          12.970.268                           Time deposits
      Tabungan                          37.376.047           37.376.047                     -                    -                   -                   -                        Savings deposits
      Giro                             113.525.727           70.664.584                     -                    -                   -          42.861.143                       Demand deposits
  Simpanan dari bank lain                  136.408              136.408                     -                    -                   -                   -                Deposits from other banks
  Liabilitas derivatif                           -                    -                     -                    -                   -                   -                         Derivative liabilities
  Liabilitas akseptasi                     420.562                    -                80.697              339.865                   -                   -                        Acceptance payable
  Surat berharga yang
      diterbitkan                       10.110.074                        -              72.842          2.245.500             991.612           6.800.120                           Securities issued
  Pinjaman yang diterima                32.698.776                        -              85.148          1.026.370           2.602.004          28.985.254                           Fund borrowings
  Bunga yang masih harus
      dibayar                               629.366                       -            629.366                    -                   -                      -                     Interest payables
  Liabilitas lain-lain**)                 4.690.821                       -          4.690.821                    -                   -                      -                     Other liabilities**)
  Pinjaman Subordinasi dan                                                                                                                                                    Subordinated Loan and
  Efek-efek subordinasi                 10.562.334                        -              48.158            240.792            288.950            9.984.434                        and securities

  Total                                361.720.098         108.177.039             74.958.638           63.469.063       13.514.138           101.601.219                                          Total


    *)    Terdiri atas kewajiban kepada pihak ketiga, bagi hasil yang belum dibagikan, deposito                        *)       Consists of third party payables, undistributed profit sharing, matured time
          berjangka jatuh tempo dan bunga atas deposito berjangka namun belum diambil                                           deposits and interest on time deposits not collected by customers.
          nasabah.
    **)   Terdiri atas setoran jaminan dan dana jaminan pengembang (kewajiban kepada pihak                             **)      Consists of guarantee deposits and developers’ security deposits (liabilities
          ketiga).                                                                                                               to third party).



    Risiko Pasar                                                                                                  Market Risk
    Risiko Pasar merupakan risiko pada laporan posisi                                                             Market risk is the risk on statement of financial
    keuangan dan rekening administratif, akibat                                                                   position and administrative accounts, due to
    perubahan secara keseluruhan dari kondisi pasar.                                                              changes in overall market conditions.




                                                                                                  265
Page 662
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                         NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                          As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                    and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                       (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                              unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                       46. RISK MANAGEMENT (continued)
   Risiko Pasar (lanjutan)                                                Market Risk (continued)
   Sesuai Surat Edaran Otoritas Jasa Keuangan                             In accordance with the Financial Services Authority
   Nomor 12 /SEOJK.03/2018 tanggal 21 Agustus                             Circular No.12 /SEOJK.03/2018 dated in August 21,
   2018 tentang Penerapan Manajemen Risiko dan                            2018 regarding the Implementation of Risk
   Pengukuran Risiko Pendekatan Standar, Bank                             Management and Measurement of Risk in the
   menggunakan perhitungan Standardized Method                            Standard Approach In measuring market risk, the
   yang digunakan untuk menghitung Kewajiban                              Bank uses the Standardized Method in calculating
   Penyediaan Modal Minimum (KPMM) untuk Risiko                           minimum Capital Adequacy Ratio (CAR) for market
   Pasar. Risiko nilai tukar yang timbul dari fluktuasi                   risk. Exchange rate risk arises from fluctuations in
   nilai tukar dikelola dengan cara menjaga Posisi                        exchange rates maintained by keeping the net open
   Devisa Neto sesuai dengan peraturan Bank                               position in accordance with Bank Indonesia
   Indonesia. Gejolak eksternal juga diakomodasi                          regulations. External shocks are also being
   dengan dilakukan stress testing untuk melihat                          considered by stress testing, which is done to
   sejauh mana Bank dapat bertahan dengan                                 measure the extent to which the Bank can survive
   beberapa skenario perubahan kondisi eksternal,                         some scenario changes in external conditions,
   khususnya perubahan suku bunga pasar.                                  particularly changes in market interest rates.
   Termasuk di dalam risiko pasar adalah risiko                           Market risk includes the risk of price changes of
   perubahan harga instrumen keuangan akibat                              financial instruments due to changes in market
   perubahan faktor-faktor pasar, seperti perubahan                       factors, such as changes in interest rates and
   suku bunga dan perubahan nilai tukar.                                  exchange rates.

   i. Risiko tingkat suku bunga                                           i. Interest rate risk
      Risiko tingkat bunga timbul dari adanya                                 Interest rate risks arise from the possibility that
      kemungkinan bahwa perubahan tingkat suku bunga                          changes in interest rates will affect future cash flows
      akan mempengaruhi arus kas di masa yang akan                            from the fair values of financial instruments.
      datang dari nilai wajar instrumen keuangan.

      Tabel di bawah ini menyajikan informasi mengenai                        The following table presents information on the
      tingkat suku bunga rata-rata per tahun untuk aset                       average annual interest rates for significant financial
      dan liabilitas keuangan yang penting untuk tahun                        assets and liabilities for the year ended December
      yang berakhir pada tanggal-tanggal 31 Desember                          31, 2023 and 2022:
      2023 dan 2022:
                                     31 Desember/December 31, 2023    31 Desember/December 31, 2022

                                                       Mata Uang                        Mata Uang
                                                         Asing/                           Asing/
                                                        Foreign                          Foreign
    Aset                               Rupiah          currencies       Rupiah          currencies                                 Assets

    Giro pada bank lain                     0,69%             0,00%          0,19%             0,00%      Current accounts with other Bank
    Penempatan pada Bank                                                                                            Placements with Bank
       Indonesia dan                                                                                                      Indonesia and
       bank lain                            5,23%             5,24%          3,47%             0,96%                        other banks
    Efek-efek                               5,27%             4,13%          8,59%             4,13%                             Securities
    Obligasi pemerintah                                                                                                 Government bonds
       Tingkat bunga tetap                  3,74%             3,07%          3,60%             2,93%                  Fixed interest rate
    Efek-efek yang dibeli                                                                                      Securities purchased under
       dengan janji dijual kembali          5,74%             0,00%          4,21%             0.00%                 agreement to resell
    Kredit yang diberikan dan                                                                                  Loans and sharia financing/
       Piutang syariah                      8,06%             6,08%          8,14%             4,48%                         receivables
    Liabilitas                                                                                                                  Liabilities

    Simpanan nasabah                                                                                              Deposits from customers
       Giro                                 2,21%             4,51%          1,59%             1,03%                  Demand deposits
       Tabungan                             1,53%             0,21%          1,44%             0,16%                   Savings deposits
       Deposito berjangka                   5,34%             4,25%          3,49%             1,71%                      Time deposits
    Simpanan dari Bank lain                                                                                     Deposits from other banks
       Giro                                 1,12%             0,00%          0,99%             0,00%                   Demand deposits
       Deposito Berjangka                   4,69%             0,00%          2,75%             0,00%                       Time deposits
       Inter-bank call money                5,65%             0,00%          3,40%             1,48%               Inter-bank call money
    Efek-efek yang dijual dengan                                                                                      Securities sold under
       janji dibeli kembali                 5,97%             0,00%          3,93%             0,00%            repurchase agreements
    Surat berharga yang
       yang diterbitkan                     7,99%             0,00%          8,56%             0,00%                    Securities issued
    Pinjaman yang diterima                  5,08%             1,37%          5,47%             0,90%                   Fund borrowing
    Pinjaman subordinasi dan                                                                                       Subordinated loan and
       efek-efek Subordinasi                8,28%             4,20%          8,28%             4,20%                         securities




                                                               266
Page 663
                                                                                                                The original financial statements included herein are in the
                                                                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                                    unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                            46. RISK MANAGEMENT (continued)
   Risiko Pasar (lanjutan)                                                                                       Market Risk (continued)
   i. Risiko tingkat suku bunga (lanjutan)                                                                       i. Interest rate risk (continued)
     Tabel di bawah ini mengikhtisarkan eksposur                                                                     The tables below summarize the Bank’s exposure
     Bank terhadap risiko tingkat suku bunga (gross):                                                                to interest rate risk (gross):

                                                                    31 Desember/December 31, 2023
                                                Suku bunga mengambang/Variable interest rate

                                                                    Lebih dari 3
                                                                    bulan tetapi
                                                                     tidak lebih
                                                                    dari 1 tahun/                                                     Tidak
                                                   Tidak lebih      More than 3         Lebih dari 1        Suku bunga              dikenakan
                                                  dari 3 bulan/     months but            tahun/               tetap/             bunga/syariah
                                                 Not more than       less than 1        More than 1             Fixed              Non-interest
                                                    3 months            year               year             interest rate         bearing/sharia        Total

    Aset Keuangan                                                                                                                                                                           Financial Assets
    Kas                                                        -                    -                  -                -              2.127.489         2.127.489                                       Cash
    Giro pada Bank Indonesia                                   -                    -                  -       14.317.572              3.828.189        18.145.761       Current accounts with Bank Indonesia
    Giro pada bank lain                                2.203.198                    -                  -                -                    200         2.203.398          Current accounts with other banks
    Penempatan pada Bank Indonesia                                                                                                                                            Placements with Bank Indonesia
       dan bank lain                                           -                    -                  -       27.411.122              3.150.000        30.561.122                         and other banks
    Efek-efek                                          1.042.013                    -                  -        4.154.990                108.870         5.305.873                                  Securities
    Obligasi pemerintah                                        -                    -                  -       21.735.376             14.158.553        35.893.929                         Government bonds
    Tagihan Akseptasi                                          -                    -                  -                -                544.567           544.567                    Acceptance Receivable
    Tagihan Derivatif                                          -                    -                  -           32.176                      -            32.176                    Derivative receivabless
    Kredit yang diberikan dan piutang                                                                                                                                              Loans and sharia financing/
       /pembiayaan syariah                             4.843.685         8.545.336       142.367.230          140.827.609             37.114.281       333.698.141                              receivable
    Bunga yang masih akan diterima                             -                 -                 -                    -             11.526.687        11.526.687                         Interest receivable
    Aset lain-lain*)                                           -                 -                 -                    -              1.873.496         1.873.496                              Other assets*)

    Total aset keuangan                                8.088.896         8.545.336       142.367.230          208.478.845             74.432.332       441.912.639                          Total financial assets


    Liabilitas Keuangan                                                                                                                                                                     Financial Liabilities
    Liabilitas segera**)                                       -                    -                  -                    -          2.567.271         2.567.271                  Liabilities due immediately**)
    Simpanan dari nasabah                                                                                                                                                              Deposits from customers
       Giro                                           75.362.852                    -                  -       54.006.439             13.439.465       142.808.756                           Demand deposits
       Tabungan                                       37.722.161                    -                  -                -              1.276.592        38.998.753                           Savings deposits
       Deposito berjangka                                      -                    -                  -      140.693.639                      -       140.693.639                              Time deposits
    Simpanan dari bank lain                                    -                    -                  -                -                 91.312            91.312                    Deposits from other banks
    Liabilitas akseptasi                                       -                    -                  -                -                544.567           544.567                           Acceptance payable
    Liabilitas derivatif                                       -                    -                  -                -                      -                 -                           Acceptance payable
    Surat-surat berharga diterbitkan                           -                    -                  -        8.006.252                265.846         8.272.098                               Securities issued
    Pinjaman yang diterima                                     -                    -                  -       30.531.530              3.230.559        33.762.089                               Fund Borrowings
    Bunga yang masih harus dibayar                             -                    -                  -                -                647.496           647.496                              Interest payables
    Liabilitas lain-lain***)                                   -                    -                  -                -                521.548           521.548                               Other liabilities***)
    Pinjaman subordinasi dan                                                                                                                                                            Subordinated Loan and
       Efek-efek subordinasi                                   -                    -                  -        9.112.837                       -        9.112.837                                   Securities

    Total liabilitas keuangan                       113.085.013                     -                  -      242.350.697             22.584.656       378.020.366                       Total financial liabilities

       Gap repricing
       suku bunga-kotor                            (104.996.117)         8.545.336       142.367.230          (33.871.852)            51.847.676        63.892.273               Gross interest repricing gap


      *)     Terdiri dari tagihan kepada pihak ketiga.                                                                       *)    Consists of third party receivables.
      **)    Terdiri dari kewajiban kepada pihak ketiga, bagi hasil yang belum dibagikan,                                   **)    Consists of third party payables, undistributed profit sharing, matured time
             deposito berjangka jatuh tempo dan bunga atas deposito berjangka namun belum                                          deposits and interest on time deposits not collected by customers.
             diambil nasabah.
     ***)     Terdiri atas setoran jaminan dan dana jaminan pengembang (kewajiban kepada                                ***)       Consists of guarantee deposits and developers’ security deposits (liabilities to
              pihak ketiga).                                                                                                       third party).




                                                                                            267
Page 664
                                                                                                                The original financial statements included herein are in the
                                                                                                                                                      Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                                    unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                                                            46. RISK MANAGEMENT (continued)
   Risiko Pasar (lanjutan)                                                                                       Market Risk (continued)
   i. Risiko tingkat suku bunga (lanjutan)                                                                       i. Interest rate risk (continued)
     Tabel di bawah ini mengikhtisarkan eksposur                                                                     The tables below summarize the Bank’s exposure
     Bank terhadap risiko tingkat suku bunga (gross)                                                                 to interest rate risk (gross)(continued):
     (lanjutan):

                                                                                31 Desember/December 31, 2022
                                                Suku bunga mengambang/Variable interest rate

                                                                    Lebih dari 3
                                                                    bulan tetapi
                                                                     tidak lebih
                                                                    dari 1 tahun/                                                     Tidak
                                                   Tidak lebih      More than 3         Lebih dari 1        Suku bunga              dikenakan
                                                  dari 3 bulan/     months but            tahun/               tetap/             bunga/syariah
                                                 Not more than       less than 1        More than 1             Fixed              Non-interest
                                                    3 months            year               year             interest rate         bearing/sharia         Total

    Aset Keuangan                                                                                                                                                                             Financial Assets
    Kas                                                       -                     -                  -                    -          1.661.533         1.661.533                                         Cash
    Giro pada Bank Indonesia                         22.035.579                     -                  -                    -          3.381.362        25.416.941        Current accounts with Bank Indonesia
    Giro pada bank lain                               1.471.059                     -                  -                    -              1.198         1.472.257           Current accounts with other banks
    Penempatan pada Bank Indonesia                                                                                                                                             Placements with Bank Indonesia
       dan bank lain                                          -                     -                  -       10.897.955              2.078.000        12.975.955                           and other banks
    Efek-efek                                           793.831                     -                  -          816.282                113.055         1.723.168                                    Securities
    Obligasi pemerintah                                       -                     -                  -       43.150.065              8.814.908        51.964.973                          Government bonds
    Efek-efek yang dibeli dengan                                                                                                                                                    Securities purchaces under
       janji dijual kembali                                    -                    -                  -        1.434.190                      -          1.434.190                         agreement to resell
    Tagihan akseptasi                                          -                    -                  -                -                420.562            420.562                    Acceptance Receivable
    Tagihan derivatif                                          -                    -                  -          103.939                      -            103.939                    Derivative receivabless
    Kredit yang diberikan dan piutang                                                                                                                                               Loans and sharia financing/
       /pembiayaan syariah                             3.898.479         9.715.127       187.066.985           65.976.974             31.624.139       298.281.704                                receivable
    Bunga yang masih akan diterima                             -                 -                 -                    -             10.750.302        10.750.302                           Interest receivable
    Aset lain-lain*)                                           -                 -                 -                    -              1.040.048         1.040.048                                Other assets*)

    Total aset keuangan                               28.198.948         9.715.127       187.066.985          122.379.405             59.885.107       407.245.572                          Total financial assets



    Liabilitas Keuangan                                                                                                                                                                     Financial Liabilities
    Liabilitas segera**)                                       -                    -                  -                    -          2.614.055          2.614.055                 Liabilities due immediately**)
    Simpanan dari nasabah                                                                                                                                                              Deposits from customers
       Giro                                           62.039.775                    -                  -       42.861.143              8.624.809       113.525.727                           Demand deposits
       Tabungan                                       36.182.329                    -                  -                               1.193.718        37.376.047                           Savings deposits
       Deposito berjangka                                      -                    -                  -      146.198.027                      -       146.198.027                              Time deposits
    Simpanan dari bank lain                              136.408                    -                  -                -                      -           136.408                    Deposits from other banks
    Liabilitas akseptasi                                       -                    -                  -                -                420.562           420.562                           Acceptance payable
    Liabilitas derivatif                                       -                    -                  -                -                      -                 -                            Derivative liabilities
    Surat-surat berharga diterbitkan                           -                    -                  -        8.652.260                      -         8.652.260                               Securities issued
    Pinjaman yang diterima                                     -                    -                  -       22.803.052              2.017.953        24.821.005                               Fund Borrowings
    Bunga yang masih harus dibayar                             -                    -                  -                -                629.366           629.336                              Interest payables
    Liabilitas lain-lain***)                                   -                    -                  -                -              4.690.821         4.690.821                               Other liabilities***)
    Pinjaman subordinasi dan                                                                                                                                                            Subordinated Loan and
       Efek-efek subordinasi                                   -                    -                  -        9.158.219                        -        9.158.219                                     Securities

    Total liabilitas keuangan                         98.358.512                    -                  -      229.672.701             20.191.284       348.222.467                       Total financial liabilities

    Gap repricing
      suku bunga-kotor                              (70.159.564)         9.715.127       187.066.985        (107.293.296)             39.693.823        59.023.105                Gross interest repricing gap


      *)     Terdiri dari tagihan kepada pihak ketiga.                                                                       *)    Consists of third party receivables.
      **)    Terdiri dari kewajiban kepada pihak ketiga, bagi hasil yang belum dibagikan,                                   **)    Consists of third party payables, undistributed profit sharing, matured time
             deposito berjangka jatuh tempo dan bunga atas deposito berjangka namun belum                                           deposits and interest on time deposits not collected by customers.
             diambil nasabah.
     ***)     Terdiri atas setoran jaminan dan dana jaminan pengembang (kewajiban kepada                                ***)        Consists of guarantee deposits and developers’ security deposits (liabilities to
              pihak ketiga).                                                                                                        third party).




                                                                                            268
Page 665
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                 46. RISK MANAGEMENT (continued)

   Risiko Pasar (lanjutan)                                         Market Risk (continued)

   i. Risiko tingkat suku bunga (lanjutan)                          i. Interest rate risk (continued)

     Analisis sensitivitas untuk beberapa faktor pasar               Sensitivity analyses for several market factors
     menunjukkan bagaimana laba atau rugi dan                        showing how profit or loss and equity could be
     ekuitas dapat dipengaruhi oleh perubahan dari                   affected by changes in the relevant risk factor are
     beberapa faktor risiko sesuai dengan tabel                      shown in the tables below. In general, sensitivity
     dibawah ini. Secara umum, sensitivitas diestimasi               is estimated by comparing an initial value to the
     dengan membandingkan suatu nilai awal ke nilai                  value derived after a specified change in the
     tertentu setelah perubahan tertentu dari faktor                 market factor, assuming all other variables are
     pasar, dengan mengasumsikan seluruh variabel                    constant. The sensitivity of the statement of profit
     lainnya tetap. Sensitivitas atas laporan laba rugi              or loss and other comprehensive income is the
     dan penghasilan komprehensif lain merupakan                     effect of the assumed changes in interest rates on
     efek atas perubahan estimasi suku bunga atas                    the profit or loss for a period, based on the variable
     laba rugi untuk suatu periode, berdasarkan nilai                rate trading and non-trading financial assets and
     suku bunga mengambang atas aset dan liabilitas                  liabilities held by the Bank as of December 31,
     yang diperdagangkan dan tidak diperdagangkan                    2023 and 2022. The sensitivity of equity is
     yang dimiliki Bank pada tanggal-tanggal 31                      calculated by revaluing fixed interest rate fair
     Desember 2023 dan 2022. Analisis sensitivitas                   value through other comprehensive income and
     atas ekuitas dihitung dengan menilai kembali                    fair value to profit or loss financial assets as of
     perubahan estimasi suku bunga tetap atas aset                   December 31, 2023 and 2022 for the effects of the
     keuangan yang diukur pada nilai wajar melalui                   assumed changes in interest rates. The total
     penghasilan komprehensif lain dan nilai wajar                   sensitivity of equity is based on the assumption
     melalui laba rugi pada tanggal-tanggal 31                       that there are parallel shifts in the yield curve.
     Desember 2023 dan 2022. Jumlah sensitivitas
     atas ekuitas didasarkan pada asumsi bahwa
     terdapat perubahan paralel dalam kurva imbal
     hasil.

     Tabel dibawah ini menunjukkan sensitivitas dari                 The tables below demonstrate the sensitivity of
     laporan laba rugi dan penghasilan komprehensif                  the Bank’s statement of profit or loss and other
     lain dan ekuitas Bank terhadap kemungkinan                      comprehensive income and equity to reasonably
     perubahan wajar atas suku bunga untuk aset dan                  possible changes in interest rates for fixed rate
     liabilitas keuangan dengan suku bunga tetap                     financial assets and liabilities as of December 31,
     pada tanggal-tanggal 31 Desember 2023 dan                       2023 and 2022, there is significant changes
     2022,       terdapat   perubahan     signifikan                 compare to December 2022 from impact of profit
     dibandingkan dengan Desember 2022 atas                          or loss and equity because of the increasing from
     dampak ke laba rugi dan ekuitas dikarenakan                     securities in USD:
     peningkatan portofolio surat berharga dalam
     USD:




                                                          269
Page 666
                                                                         The original financial statements included herein are in the
                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                               PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                      NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                       As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                 and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                    (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                           unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                    46. RISK MANAGEMENT (continued)

   Risiko Pasar (lanjutan)                                                Market Risk (continued)

   i. Risiko tingkat suku bunga (lanjutan)                                  i. Interest rate risk (continued)

                                              31 Desember/December 31, 2023

                                                   Dampak ke laporan
                                                laba rugi dan penghasilan
                                                   komprehensif lainnya
                                                      sebelum pajak/
                                                        Impact to              Dampak ke
                                Perubahan basis        Statement of              ekuitas/
                                  poin/Change        Comprehensive              Impact to
                                 in basis point     Income before tax             Equity

    Rupiah                                   +125             (67.861)               (285.489)                              Rupiah
                                              +50             (28.181)               (116.975)
                                              -50              29.653                 120.901
                                             -125              77.208                 310.063
    Dolar Amerika Serikat                    +125                (146)              (567.433)                   United States Dollar
                                              +50                 (58)              (241.791)
                                              -50                   59                264.001
                                             -125                  146                706.923



                                              31 Desember/December 31, 2022

                                                    Dampak ke laporan
                                                laba rugi dan penghasilan
                                                   komprehensif lainnya
                                                      sebelum pajak/
                                                         Impact to
                                                       Statement of            Dampak ke
                                Perubahan basis      profit or loss and          ekuitas/
                                  poin/Change      Other Comprehensive          Impact to
                                 in basis point     Income before tax             Equity

    Rupiah                                   +125             (43.380)               (556.734)                              Rupiah
                                              +50             (17.878)               (230.043)
                                              -50              18.623                 240.557
                                             -125              48.045                 622.570
    Dolar Amerika Serikat                    +125                    -               (546.154)                  United States Dollar
                                              +50                    -              (232.895)
                                              -50                    -                254.593
                                             -125                    -                682.459




                                                          270
Page 667
                                                                       The original financial statements included herein are in the
                                                                                                             Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                        As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                  and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                            unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                    46. RISK MANAGEMENT (continued)

   Risiko Pasar (lanjutan)                                              Market Risk (continued)

   i. Risiko tingkat suku bunga (lanjutan)                              i. Interest rate risk (continued)

     Tabel dibawah ini menunjukkan sensitivitas dari                       The tables below demonstrate the sensitivity of
     laporan laba rugi dan penghasilan komprehensif                        profit or loss and other comprehensive income to
     lain terhadap kemungkinan perubahan suku                              reasonably possible changes in interest rates for
     bunga untuk aset dan liabilitas keuangan dengan                       variable rate financial assets and liabilities as of
     suku bunga variable pada tanggal-tanggal 31                           December 31, 2023 and 2022:
     Desember 2023 dan 2022:
                                               31 Desember/December 31, 2023

                                                                    Pengaruh ke
                                                                  laporan laba rugi
                                                                  dan penghasilan
                                                               komprehensif lainnya/
                                                                      Impact to
                                              Perubahan             Statement of
                                              basis poin/         profit or loss and
                                              Change in          other comprehensive
                                              basis point              income

    Rupiah                                              ±125             ±410.748                                      Rupiah
                                                         ±50             ±164.299



                                               31 Desember/December 31, 2022

                                                                    Pengaruh ke
                                                                  laporan laba rugi
                                                                  dan penghasilan
                                                               komprehensif lainnya/
                                                                      Impact to
                                              Perubahan             Statement of
                                              basis poin/         profit or loss and
                                              Change in          other comprehensive
                                              basis point              income

    Rupiah                                              ±125             ±405.949                                      Rupiah
                                                         ±50             ±162.380

   ii. Risiko Nilai Tukar                                               ii. Exchange rate risk

     Risiko nilai tukar adalah kemungkinan kerugian                         Exchange rate risk is the probability of loss to
     yang timbul dari perubahan kurs valuta asing.                          earnings arising from changes in foreign
     Bank mengelola paparan terhadap pengaruh                               exchange rates. The Bank manages exposure to
     fluktuasi nilai tukar dengan Posisi Devisa Neto                        effects of fluctuations in exchange rates with Net
     sesuai dengan peraturan OJK (tidak diaudit).                           Open Position based on OJK regulations
                                                                            (unaudited).
                                               31 Desember/December 31, 2023

                                              Perubahan             Pengaruh ke
                                              persentase          laporan laba rugi
                                              nilai tukar         dan penghasilan
                                              mata uang        komprehensif lainnya/
                                                 asing/               Impact to
                                              Percentage            Statement of
                                               change in          profit or loss and
                                                foreign          other comprehensive
                                             currency rate             income

      Dolar Amerika Serikat                     ±0.30%                      ±3.840                        United States Dollar
                                                ±0.35%                      ±4.480




                                                             271
Page 668
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                46. RISK MANAGEMENT (continued)

   Risiko Pasar (lanjutan)                                          Market Risk (continued)

   ii. Risiko Nilai Tukar (lanjutan)                                 ii. Exchange rate risk (continued)

     Risiko nilai tukar adalah kemungkinan kerugian                     Exchange rate risk is the probability of loss to
     yang timbul dari perubahan kurs valuta asing.                      earnings arising from changes in foreign
     Bank mengelola paparan terhadap pengaruh                           exchange rates. The Bank manages exposure to
     fluktuasi nilai tukar dengan Posisi Devisa Neto                    effects of fluctuations in exchange rates with Net
     sesuai dengan peraturan OJK (tidak diaudit).                       Open Position based on OJK regulations
     (lanjutan)                                                         (unaudited). (continued)
                                           31 Desember/December 31, 2022

                                          Perubahan             Pengaruh ke
                                          persentase          laporan laba rugi
                                          nilai tukar         dan penghasilan
                                          mata uang        komprehensif lainnya/
                                             asing/               Impact to
                                          Percentage            Statement of
                                           change in          profit or loss and
                                            foreign          other comprehensive
                                         currency rate             income

      Dolar Amerika Serikat                      ±0.30%                 ±1.106                        United States Dollar
                                                 ±0.35%                 ±1.290

     Sensitivitas atas laporan laba rugi dan                             The sensitivity of the statement of profit or loss
     penghasilan komprehensif lain merupakan                             and other comprehensive income is the
     dampak yang diestimasi atas perubahan yang                          estimated effect of the assumed change in
     diasumsikan atas perubahan nilai tukar                              foreign currency exchange rates on income,
     berdasarkan aset dan liabilitas keuangan dalam                      based on foreign currency denominated assets
     mata uang asing.                                                    and liabilities.

     Pada tanggal 31 Desember 2023 dan 2022,                             As of December 31, 2023 and 2022, the effect
     dampak atas perubahan nilai tukar mata uang                         of fluctuations in exchange rates of other
     lainnya seperti Pound Sterling Inggris, Euro                        currencies, such as British Pound Sterling,
     Eropa, Yen Jepang, Dolar Singapura, Dolar                           European Euro, Japanese Yen, Singapore
     Australia dan Dolar Hongkong tidak material.                        Dollar, Australian Dollar and Hongkong Dollar, is
                                                                         not material.
   Risiko Operasional                                               Operational Risk

   Risiko Operasional merupakan risiko akibat                       Operational risk is a risk arising from the inadequacy
   ketidakcukupan dan/atau tidak berfungsinya proses                and/or failure of internal processes, human error,
   internal, kesalahan manusia, kegagalan sistem,                   system failure, and/or the presence of external
   dan/atau adanya kejadian-kejadian eksternal yang                 events that can affect the operations of the Bank.
   mempengaruhi operasional Bank.
   Risiko Operasional yang timbul harus segera                      Operational risk arising should be anticipated.
   diantisipasi. Pencadangan modal yang dilakukan                   Provision of capital held by bank is calculated based
   Bank dihitung berdasarkan kebutuhan modal                        on minimum Capital Adequacy Ratio (CAR) which is
   minimum (CAR) merupakan salah satu langkah                       one of anticipatory measures in order the
   antisipasi agar eksposur Risiko Operasional tidak                operational risk exposure not interfere Bank’s
   sampai mengganggu permodalan.                                    capital structure.




                                                         272
Page 669
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                 46. RISK MANAGEMENT (continued)

   Risiko Operasional (lanjutan)                                   Operational Risk (continued)

   Dalam rangka menghitung kebutuhan modal                         In order to calculate the minimum Capital Adequacy
   minimum (CAR) untuk risiko operasional, Bank                    Ratio (CAR) for operational risk, the Bank applies
   menerapkan Pendekatan Standar (Standardized                     the Standardized Approach, in accordance with
   Approach), sesuai Surat Edaran Otoritas Jasa                    Financial Services Autority Circular Letter No.
   Keuangan Nomor 6/SEOJK.03/2020 tanggal 29                       6/SEOJK.03/2020 dated April 29, 2020 regarding
   April 2020 tentang Perhitungan Aset Tertimbang                  the calculation of Risk Weighted Assets (RWA) for
   Menurut Risiko untuk Risiko Operasional dengan                  Operational Risk Calculated using Standardized
   Menggunakan Pendekatan Standar Bagi Bank                        Approach (SA).
   Umum.

   Dalam pemantauan risiko operasional, fungsi                     In monitoring operational risk, Internal Audit
   Internal Audit melaksanakan penilaian terhadap                  performs an assessment of the implementation of
   implementasi kebijakan dan prosedur manajemen                   risk management policies and procedures at each
   risiko pada setiap aktivitas fungsional, produk atau            functional activity, product or new service and the
   layanan baru dan Enterprise Risk Management                     ERMD also ensures that the identification,
   Division (ERMD) berfungsi memastikan proses                     measurement, monitoring and risk control, work
   identifikasi,  pengukuran,      pemantauan       dan            effectively on any functional activity, product or new
   pengendalian risiko berjalan dengan efektif pada                services.
   setiap aktivitas fungsional, produk atau layanan
   baru.

   Dalam rangka melakukan proses identifikasi risiko,              In order to make the process of identifying risks, the
   saat ini Bank sedang mengembangkan aplikasi BTN                 Bank is currently developing applications BTN Loss
   Loss Event Database (BTN-LED). Aplikasi BTN LED                 Event Database (BTN-LED). The application of LED
   ini dirancang terhubung dengan Kantor Wilayah dan               was designed BTN connected with regional offices
   Kantor Cabang. Dengan demikian Kantor Wilayah                   and branch offices. Thus, regional offices and
   dan Kantor Cabang dapat secara periodik                         branch offices can periodically send data loss event
   mengirimkan data loss event masing-masing kantor                each office online through media web (web based).
   secara online melalui media web (web based).

   Data yang terkumpul selanjutnya akan diolah dan                 The Data collected will be processed and analyzed.
   dianalisis. Dari hasil pengolahan dan analisis                  Processing and analysis of the results are expected
   tersebut diharapkan akan teridentifikasi peta                   to be identified as a risk exposure maps are
   eksposur risiko yang diperoleh, selanjutnya akan                obtained, further mitigation measures will be
   dilakukan langkah mitigasi terhadap eksposur risiko             performed against the identified risk exposures.
   yang teridentifikasi tersebut.

   Pengendalian dan mitigasi risiko operasional                    Controlling and mitigating operational risk is
   dilaksanakan oleh seluruh satuan kerja Bank.                    conducted by risk taking units within the Bank. The
   Enterprise Risk Management Division bertugas                    Enterprise Risk Management Division ensures that
   untuk memastikan bahwa Bank telah memiliki                      the Bank has adequate policies and procedures,
   kebijakan dan prosedur pengendalian dan mitigasi                which must be complied and carried out by each risk
   risiko operasional yang memadai yang wajib                      taking unit in conducting its daily transactions and
   dipatuhi dan dilaksanakan oleh setiap satuan kerja              activities accurately, efficiently and in a timely
   dalam melaksanakan transaksi dan aktivitas dengan               manner.
   akurat, efisien dan tepat waktu.




                                                          273
Page 670
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                   46. RISK MANAGEMENT (continued)

   Risiko Hukum                                                      Legal Risk

   Pengukuran risiko hukum dilaksanakan oleh                         Legal risk measurement is conducted together by
   Enterprise Risk Management Division bersama-                      Enterprise Risk Management Division and Legal
   sama Legal Division berdasarkan laporan hasil                     Division based on the evaluation report resulting
   evaluasi atas analisis kasus-kasus hukum secara                   from the analysis of individual legal cases on
   individual terhadap liabilitas kontinjensi yang timbul            contingent liabilities arising from legal litigation.
   dari tuntutan hukum yang terjadi.

   Pemantauan risiko hukum dilaksanakan oleh Legal                   Legal risk monitoring is conducted by Legal Division
   Division untuk mengevaluasi efektivitas dari                      to evaluate the effectiveness of policies, procedures
   implementasi kebijakan, prosedur dan kepatuhan                    and compliance with the Bank’s policies and
   terhadap kebijakan, regulasi hukum serta batas                    prevailing laws and regulations. Periodic monitoring
   ketentuan Bank. Pemantauan dilaksanakan secara                    is conducted on all legal risk exposures.
   berkala terhadap seluruh posisi risiko hukum.

   Dalam melaksanakan pengendalian risiko hukum,                     To mitigate legal risk, Legal Division provides legal
   Legal Division memberi masukan hukum dan                          advice and recommendation to each division and
   rekomendasi kepada setiap divisi dan satuan kerja                 risk taking units and also conducts a regular review
   serta melakukan review secara berkala terhadap                    of agreements and partnership contracts with
   perjanjian dan kontrak kerjasama dengan                           counterparty.
   counterparty.

   Risiko Reputasi                                                   Reputational Risk

   Identifikasi risiko reputasi dilakukan pada faktor-               Reputational risk is identified an inherent risk factors
   faktor risiko yang melekat pada aktivitas fungsional              associated to functional activities including
   yang       mencakup      keterbukaan     (disclosure              disclosure requirements, customer complaints
   requirement), keluhan nasabah terhadap pelayanan                  against the Bank, employee attitude when providing
   Bank, perilaku karyawan Bank dalam melayani                       services to       customers       and the        Bank’s
   nasabah dan sistem komunikasi Bank.                               communication systems.

   Pengukuran risiko reputasi dilakukan berdasarkan                  Reputation risk measurement is based on the
   hasil assesment terhadap faktor-faktor risiko                     results of assessment on the reputation risk factors.
   reputasi. Risiko reputasi Bank dikelola oleh                      Bank reputation risk is managed by Corporate
   Corporate Secretary Division (CSD) dan dilaporkan                 Secretary Division (CSD) and being reported to
   ke Bank Indonesia oleh Customer Care Division                     Bank Indonesia by Customer Care Division (CCD).
   (CCD).

   Dalam rangka pemantauan risiko reputasi,                          In order to monitor reputational risk, the Bank
   dikembangkan aplikasi Sistem Pengaduan Nasabah                    developed an application called Customer
   (SPN) untuk mendukung layanan dan penanganan                      Complaint System (CCS) to support customer
   pengaduan nasabah yang memungkinkan proses                        service and complaint handling that allows online
   penanganan pengaduan secara online antar pihak-                   complaints handling process between the parties
   pihak yang terkait dengan permasalahan di Kantor                  related to the issues at branch offices and head
   Cabang dan Kantor Pusat. Hal ini berguna untuk                    office. This will be useful to ensure sustained
   memastikan terjaganya kepuasan nasabah.                           customer satisfaction.

   Dalam pengendalian risiko reputasi, satuan kerja                  CSD is responsible for implementing policies related
   yang berfungsi sebagai corporate secretary                        to managing and settling negative issues or avoiding
   bertanggung jawab dalam penerapan kebijakan                       counter-productive information and performs the
   yang berkaitan dengan penanganan dan                              Public Service Obligation (PSO) function in
   penyelesaian berita negatif atau menghindari                      connection with carrying out corporate social
   informasi kontra produktif serta untuk menjalankan                responsibility.
   fungsi Public Service Obligation (PSO) dalam
   rangka melaksanakan tanggung jawab sosial
   perusahaan (corporate social responsibility).




                                                            274
Page 671
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                  46. RISK MANAGEMENT (continued)

   Risiko Reputasi (lanjutan)                                       Reputational Risk (continued)

   Kegiatan Corporate Social Responsibility tidak                   Corporate Social Responsibility is not focused only
   terfokus kepada kegiatan charity saja, tetapi juga               on charity, but also in the form of a sustainable
   dalam bentuk program yang berkesinambungan.                      program. This can be realized in the form of credit
   Hal ini dapat diwujudkan dalam bentuk pemberian                  subsidies and implementation of the Social and
   kredit subsidi dan pelaksanaan Program Tanggung                  Environmental Responsibility Program (SERP).
   Jawab Sosial dan Lingkungan (TJSL).

   Risiko Stratejik                                                 Strategic Risk
   Risiko     Stratejik   merupakan     risiko    akibat            Strategic risk is the risk arising from the inaccuracies
   ketidaktepatan Bank dalam pengambilan dan/atau                   in the decision making and/or the execution of a
   pelaksanaan suatu keputusan stratejik serta                      strategic decision and failure to anticipate changes
   kegagalan dalam mengantisipasi perubahan                         in the business environment. Strategic Risk
   lingkungan bisnis. Identifikasi risiko stratejik                 identification is based on the strategic risk factors on
   dilakukan berdasarkan atas faktor-faktor risiko                  specific functional activities, such as lending,
   stratejik pada aktivitas fungsional tertentu, seperti            treasury and investment activities, as well as
   aktivitas perkreditan, treasuri dan investasi, serta             operations and services through a business plan
   operasional dan jasa melalui business plan yang                  prepared by the Corporate Strategy and Planning
   disusun oleh Corporate Strategy and Planning                     Division (CSPD) as elaborated in the General Policy
   Division (CSPD) sebagaimana yang dijabarkan                      of the BOD.
   dalam Kebijakan Umum Direksi (KUD).
   Pengukuran Risiko Stratejik dan parameter                        Strategic risk and parameter measurement are
   pengukurannya dilakukan berdasarkan kinerja Bank                 based on the Bank's performance by comparing
   yaitu dengan membandingkan hasil aktual dengan                   actual results with targets that have been set.
   target yang telah ditetapkan. Pemantauan risiko                  Strategic risk monitoring is carried out by CSPD
   stratejik dilakukan oleh CSPD secara berkala                     periodically to monitor the achievement of Key
   dengan memonitor pencapaian Key Perfomance                       Performance Indicator and risk exposure compared
   Indicator dan risk exposure dibandingkan dengan                  to the Bank's risk appetite.
   risk appetite bank.
   Selanjutnya, Dewan Komisaris, Direksi, Divisi dan                Furthermore, the BOC, BOD, Divisions and Branch
   Kantor Cabang mereviu strategi dasar yang fokus                  Offices are reviewing the basic strategy that focuses
   pada perubahan-perubahan antara lain struktur                    on changes in among others, the organizational
   organisasi    Bank,   perkreditan      komersial,                structure of the Bank, commercial lending, trade
   pembiayaan perdagangan, treasuri, operasional                    finance, treasury, operations and the strengths and
   dan kekuatan serta kelemahan sistem teknologi                    weaknesses of information technology systems.
   informasi.
   Dalam pengendalian risiko stratejik, Corporate                   In controlling strategic risk, the Corporate Strategy
   Strategy and Planning Division (CSPD) berfungsi                  and Planning Division (CSPD) analyzes actual
   menganalisa laporan aktual dan target rencana                    results against target and periodically reports to the
   bisnis dan menyampaikannya kepada Direksi                        BOD.
   secara berkala.

   Risiko Kepatuhan                                                 Compliance Risk
   Risiko Kepatuhan merupakan risiko yang timbul                    Compliance risk is the risk arising from the Bank’s
   akibat Bank tidak mematuhi dan/atau tidak                        inability to comply and/or carry out laws and
   melaksanakan peraturan perundang-undangan dan                    regulations. In identifying compliance risks,
   ketentuan yang berlaku. Dalam mengidentifikasi                   Compliance Division (CMGD) conducts a review
   risiko kepatuhan, Compliance Division (CMGD)                     regarding compliance risk associated with exposure
   melakukan kajian terkait dengan eksposur Risiko                  to external provision inherent in internal regulations.
   Kepatuhan terhadap ketentuan eksternal yang                      In addition, CMGD analyzes the events that led to
   melekat pada ketentuan internal. Di samping itu,                 the emergence of risk, which are reported to and
   CMGD menganalisis kejadian yang menyebabkan                      reviewed by ERMD and RMC.
   timbulnya risiko kepatuhan dan menginformasikan
   hal tersebut ke ERMD dan RMC untuk direviu.


                                                           275
Page 672
                                                                  The original financial statements included herein are in the
                                                                                                        Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                           PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                  NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                   As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                             and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                       unless otherwise stated)


46. MANAJEMEN RISIKO (lanjutan)                                 46. RISK MANAGEMENT (continued)

   Risiko Kepatuhan (lanjutan)                                     Compliance Risk (continued)

   Dalam rangka meminimalkan timbulnya Risiko                      In order to minimize the Compliance Risk, Legal
   Kepatuhan,      Legal    Division    (LGD)     telah            Division (LGD) has provided a special access called
   menyediakan portal khusus yang bernama Legal                    Legal Application System (LAPS) for easy access to
   Application System (LAPS) untuk memudahkan                      the internal regulations of the Bank for the entire
   seluruh unit bisnis melakukan akses terhadap                    business units. In addition, CMGD monitors the
   ketentuan internal Bank. Di samping itu, Compliance             events that contributed to compliance risk and
   Division melakukan monitoring terhadap kejadian-                reports these matters to ERMD.
   kejadian yang menyebabkan timbulnya risiko
   kepatuhan dan menginformasikan hal tersebut ke
   ERMD.

   Pengukuran risiko kepatuhan dilakukan untuk                     Compliance risk is assessed by measuring the
   mengukur potensi kerugian yang disebabkan oleh                  potential loss caused by the Bank’s non-compliance
   ketidakpatuhan dan ketidakmampuan Bank dalam                    or inability to comply with prevailing regulations. The
   memenuhi ketentuan yang berlaku. Besarnya risiko                level of compliance risk is estimated based on the
   kepatuhan diestimasi berdasarkan kemampuan                      Bank’s ability to comply with prevailing and
   Bank untuk memenuhi seluruh peraturan pada                      upcoming regulations. These activities include
   waktu yang lampau dan yang akan datang.                         reviewing all penalties, litigations and complaints
   Kegiatan-kegiatan ini termasuk mereviu semua                    received by the Bank.
   penalti, litigasi, dan keluhan yang pernah diterima
   Bank.

   Dalam pemantauan risiko kepatuhan, ERMD dan                     In monitoring compliance risk, ERMD and CMGD
   CMGD bertugas untuk mengevaluasi efektivitas                    are responsible to evaluate the effectiveness of the
   implementasi manajemen risiko dengan memantau                   implementation of risk management by monitoring
   secara berkala seluruh jenis kegiatan yang                      regularly all kinds of activities that could potentially
   berpotensi menimbulkan risiko kepatuhan.                        pose a compliance risk.

   Secara berkala, IAD melakukan pemantauan                        Periodically, IAD monitors and follow-up results of
   terhadap hasil tindak lanjut audit baik dari intern             both internal and external audits.
   maupun ekstern.

47. NILAI WAJAR         ASET     DAN      LIABILITAS            47. FAIR VALUE OF FINANCIAL ASSETS AND
    KEUANGAN                                                        LIABILITIES
   Tabel di bawah ini menyajikan perbandingan antara               The table below summarizes the comparison
   nilai tercatat dan nilai wajar dari semua aset dan              between the carrying amounts and fair values of all
   liabilitas keuangan. Nilai wajar yang diungkapkan               financial assets and liabilities of the Bank. The fair
   adalah berdasarkan informasi relevan yang tersedia              values disclosed are based on relevant information
   pada tanggal 31 Desember 2023 dan 2022, dan                     available as of December 31, 2023 and 2022 and
   tidak diperbaharui untuk mencerminkan perubahan                 are not updated to reflect changes in market
   dalam kondisi pasar yang telah terjadi setelah                  conditions which have occurred after these dates.
   tanggal ini.




                                                          276
Page 673
                                                                                                              The original financial statements included herein are in the
                                                                                                                                                    Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                                       PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                                              NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                                               As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                                         and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                                            (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                                                   unless otherwise stated)


47. NILAI WAJAR      ASET                                 DAN            LIABILITAS                       47. FAIR VALUE OF FINANCIAL ASSETS AND
    KEUANGAN (lanjutan)                                                                                       LIABILITIES (continued)
                                                          31 Desember/December 31, 2023                   31 Desember/December 31, 2022

                                                        Nilai Tercatat/              Nilai wajar/        Nilai Tercatat/          Nilai wajar/
                                                        Carrying Value               Fair value          Carrying Value           Fair value

  Aset Keuangan                                                                                                                                                                       Financial Assets
  Kas                                                            2.127.489                 2.127.489           1.661.533                1.661.533                                                Cash
  Nilai wajar melalui                                                                                                                                                             Fair value through
      laba rugi                                                                                                                                                                      profit or loss
      Efek-efek                                                  1.042.013                 1.042.013             793.831                  793.831                                       Securities
      Obligasi Pemerintah                                        3.796.440                 3.796.440          19.591.199               19.591.199                              Government bonds
  Aset keuangan yang diukur pada                                                                                                                                          Financial asset held at fair
     nilai wajar melalui penghasilan                                                                                                                                          value through other
     komprehensif lain                                                                                                                                                    comprehensive income
     Efek-efek                                                   1.928.336                 1.928.336             655.293                  655.293                                       Securities
     Obligasi Pemerintah                                        12.511.991                12.511.991          14.332.949               14.332.949                             Government bonds
  Diukur pada biaya
     perolehan amortisasi                                                                                                                                                            Amortized cost
     Efek-efek                                                   2.335.524                 2.338.545             271.645                  280.451                                     Securities
     Obligasi pemerintah                                        19.585.498                19.502.452          18.040.825               17.945.001                              Government bonds
  Efek-efek yang Dibeli dengan                                                                                                                                          Securities purchased under
     Janji Dijual Kembali                                                -                          -          1.434.190                1.434.190                           agreement to resell
  Tagihan derivatif                                                 32.176                     32.176            103.939                  103.939                             Derivative receivable
  Tagihan Akseptasi                                                544.567                    544,567            420.426                  420.426                          Acceptance Receivable
  Giro pada Bank Indonesia                                      18.145.761                18.145.761          25.416.941               25.416.941          Current accounts with Bank Indonesia
  Giro pada bank lain                                            2.201.594                 2.201.594           1.470.510                1.470.510              Current accounts with other Bank
  Penempatan pada Bank Indonesia                                                                                                                                Placements with Bank Indonesia
     dan Bank Lain                                              30.561.122                30.561.122          12.975.955               12.975.955                              and other Banks
  Kredit yang diberikan dan                                                                                                                                          Loans and sharia financing/
     Piutang Syariah                                                                                                                                                                receivables
     Konsumsi                                                                                                                                                                        Consumer
     Pemilikan rumah                                          251.160.354               246.332.418          227.522.319             225.618.498                                  Housing loan
     Non-kepemilikan Rumah                                     12.726.250                12.726.250           11.425.286              11.425.286                             Non-housing loan
     Modal kerja                                               31.192.994                31.192.994           26.965.038              26.965.038                                Working capital
     Investasi                                                 13.956.609                13.956.609           10.117.008              10.117.008                                    Investment
     Sindikasi                                                  7.127.988                 7.127.988            4.488.751               4.488.751                                    Syndicated
     Direksi dan karyawan                                       1.941.982                 1.941.982            2.088.379               2.088.379                      Directors and employees
  Bunga yang
     masih akan
     diterima                                                   11.526.687                11.526.687          10.750.302               10.750.302                                  Interest receivable
  Aset lain-lain*)                                               1.873.496                 1.873.496           1.040.048                1.040.048                                       Other assets*)

  Total aset keuangan                                         426.318.871               421.410.910          391.566.367             389.575.528                              Total financial assets

  Liabilitas Keuangan                                                                                                                                                           Financial Liabilities
  Nilai wajar melalui                                                                                                                                                            Fair value through
      laba rugi                                                                                                                                                                     profit or loss
  Liabilitas segera**)                                           2.567.271                 2.567.271           2.611.027                2.611.027                               Current liabilities**)
  Simpanan nasabah                                                                                                                                                        Deposits from customers
      Giro                                                    142.808.756               142.808.756          113.525.727             113.525.727                             Demand deposits
      Tabungan                                                 38.998.753                38.998.753           37.376.047              37.376.047                              Savings deposits
      Deposito Berjangka                                      140.693.639               140.693.639          146.198.027             146.198.027                                  Time deposits
  Simpanan dari Bank Lain                                                                                                                                                Deposits from other banks
      Giro                                                           91.312                    91.312            136.408                   136.408                           Demand deposits
      Deposito Berjangka                                                  -                         -                  -                         -                                Time deposits
  Surat berharga yang
      Diterbitkan                                                8.272.098                 8.387.536           8.652.260                8.828.249                                  Securities issued
  Liabilitas akseptasi                                             544.567                   544.567             420.562                  420.562                               Acceptance Paybale
  Pinjaman yang diterima                                        33.762.089                31.075.777          24.821.005               21.731.531                                  Fund Borrowings
  Bunga yang masih harus dibayar                                   647.496                   647.496             629.366                  600.410                                  Interest payables
  Liabilitas lain-lain***)                                         521.548                   521.548           4.690.821                4.690.821                                  Other liabilities***)
  Pinjaman Subordinasi dan                                                                                                                                                       Subordinated Loan
      efek-efek subordinasi                                      9.112.837                 9.006.404           9.158.219                8.899.563                                   and securities

  Total liabilitas keuangan                                   378.020.366               375.343.059          348.219.469             345.018.372                           Total financial liablities

    *)     Terdiri dari tagihan pihak ketiga.                                                                              *)    Consists of third party receivables.
    **)    Terdiri dari kewajiban kepada pihak ketiga, bagi hasil yang belum dibagikan, deposito                           **)   Consists of third party payables, undistributed profit sharing, matured time deposits
           berjangka jatuh tempo dan bunga atas deposito berjangka namun belum diambil                                           and interest on time deposits not collected by customers.
           nasabah.
    ***)   Terdiri atas setoran jaminan dan dana jaminan pengembang (kewajiban kepada pihak                           ***)       Consists of guarantee deposits and developers’ security deposits (liabilities to third
           ketiga).                                                                                                              party).




                                                                                                   277
Page 674
                                                                                         The original financial statements included herein are in the
                                                                                                                               Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                  PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                          As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                    and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                       (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                              unless otherwise stated)


47. NILAI WAJAR      ASET                      DAN            LIABILITAS             47. FAIR VALUE OF FINANCIAL ASSETS AND
    KEUANGAN (lanjutan)                                                                  LIABILITIES (continued)

   Tabel di bawah ini menyajikan instrumen keuangan                                        The tables below show the financial instruments
   yang diakui pada nilai wajar berdasarkan hirarki                                        recognized at fair value based on the hierarchy used
   yang digunakan Bank untuk menentukan dan                                                by the Bank in determining and disclosing the fair
   mengungkapkan nilai wajar dari instrumen                                                value of financial instruments:
   keuangan:
   (i)     Tingkat 1: harga kuotasian (tanpa penyesuaian)                                  (i)     Level 1: quoted prices (unadjusted) in active
           di pasar aktif untuk aset atau liablitas yang                                           markets for identical assets or liabilities which
           identik yang dapat diakses pada tanggal                                                 are accessible at the measurement date;
           pengukuran;
   (ii) Tingkat 2: input selain harga kuotasian yang                                       (ii)    Level 2: inputs other than quoted prices
        termasuk dalam level 1 yang dapat diobservasi                                              included in level 1 that are observable for the
        untuk aset dan liabilitas, baik secara langsung                                            assets and liabilities, either directly or
        atau tidak langsung;                                                                       indirectly;

   (iii) Tingkat 3: input yang tidak dapat diobservasi                                     (iii)   Level 3: inputs that are not observable for the
         untuk aset dan liabilitas.                                                                assets and liabilities.
                                                                   31 Desember/December 31, 2023

                                               Nilai Wajar/        Tingkat/            Tingkat/          Tingkat/
                                               Fair Value          Level 1             Level 2           Level 3

         Aset Keuangan                                                                                                                     Financial Assets
         Nilai wajar melalui
             laba rugi                                                                                                       Fair value through profit or loss
               Efek-efek                            1.042.013            501.570            540.443                 -                           Securities
               Obligasi pemerintah                  3.796.440          3.796.440                  -                 -                  Government bonds

         Total nilai wajar
            laba rugi                               4.838.453          4.298.010            540.443                 -   Total fair value through profit or loss

         Aset keuangan yang diukur pada                                                                                           Financial asset held at fair
         nilai wajar melalui penghasilan                                                                                                value through other
         komprehensif lain                                                                                                           comprehensive income
               Efek-efek                            1.928.336         1.928.336                    -                -                           Securities
               Obligasi pemerintah                 12.511.991        12.511.991                    -                -                  Government bonds

         Total Aset keuangan yang
            diukur pada nilai wajar                                                                                          Total financial asset held at fair
            melalui penghasilan                                                                                                          value through other
            komprehensif lain                      14.440.327        14.440.327                    -                -                 comprehensive income


         Diukur pada biaya
            perolehan amortisasi                                                                                                              Amortized cost
             Efek-efek                              2.338.545           228.097           1.465.771           644.677                             Securities
             Obligasi pemerintah                   19.502.452        19.502.452                   -                 -                     Government bonds
             Efek-efek yang dibeli dengan                                                                                        Securities purchased under
                janji dijual kembali                           -                -                  -                -                 agreement to resell

         Total diukur pada biaya
            perolehan amortisasi                   21.840.997        19.730.549           1.465.771           644.677                   Total Amortized cost



         Tagihan Derivatif                             32.176                   -            32.176                 -                Derivative Receivable


         Kredit yang diberikan dan piutang                                                                                              Loan and receivables
              Kredit yang diberikan. piutang                                                                                               Loan and sharia
              dan pembiayaan Syariah - Net        313.278.241                   -       304.624.202         8.654.039                 financing receivables


         Liabilitas Keuangan                                                                                                            Financial Liabilities
         Liabilitas Derivatif                                  -                -                  -                -                     Derivative payable
         Surat berharga yang
            diterbitkan                             8.387.536                   -         8.387.536                 -                       Securities issued
         Pinjaman yang diterima                    31.075.777                   -        31.075.777                 -                        Fund borrowing
         Pinjaman subordinasi                                                                                                              Subordinated loan
            dan efek-efek subordinasi               9.006.404                   -         9.006.404                 -                        and securities




                                                                              278
Page 675
                                                                                        The original financial statements included herein are in the
                                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                 PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                         As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                   and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                      (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                             unless otherwise stated)


47. NILAI WAJAR      ASET                     DAN            LIABILITAS             47. FAIR VALUE OF FINANCIAL ASSETS AND
    KEUANGAN (lanjutan)                                                                 LIABILITIES (continued)

   Tabel di bawah ini menyajikan instrumen keuangan                                       The tables below show the financial instruments
   yang diakui pada nilai wajar berdasarkan hirarki                                       recognized at fair value based on the hierarchy used
   yang digunakan Bank untuk menentukan dan                                               by the Bank in determining and disclosing the fair
   mengungkapkan nilai wajar dari instrumen                                               value of financial instruments: (continued)
   keuangan: (lanjutan)
                                                                  31 Desember/December 31, 2022

                                              Nilai Wajar/         Tingkat/           Tingkat/           Tingkat/
                                              Fair Value           Level 1            Level 2            Level 3

        Aset Keuangan                                                                                                                      Financial Assets
        Nilai wajar melalui
            laba rugi                                                                                                        Fair value through profit or loss
              Efek-efek                              793.831            301.416            492.415                  -                           Securities
              Obligasi pemerintah                 19.591.199         19.591.199                  -                  -                  Government bonds

        Total nilai wajar
           laba rugi                              20.385.030         19.892.615            492.415                  -   Total fair value through profit or loss

        Aset keuangan yang diukur pada                                                                                            Financial asset held at fair
        nilai wajar melalui penghasilan                                                                                                 value through other
        komprehensif lain                                                                                                            comprehensive income
              Efek-efek                              655.293            655.293                    -                -                           Securities
              Obligasi pemerintah                 14.332.949         14.332.949                    -                -                  Government bonds

        Total Aset keuangan yang
           diukur pada nilai wajar                                                                                           Total financial asset held at fair
           melalui penghasilan                                                                                                           value through other
           komprehensif lain                      14.988.242         14.988.242                    -                -                 comprehensive income


        Diukur pada biaya
           perolehan amortisasi                                                                                                               Amortized cost
            Efek-efek                                280.451            280.451                    -                -                             Securities
            Obligasi pemerintah                   17.945.001         17.945.001                    -                -                     Government bonds
            Efek-efek yang dibeli dengan                                                                                         Securities purchased under
               janji dijual kembali                1.434.190          1.434.190                    -                -                 agreement to resell

        Total diukur pada biaya
           perolehan amortisasi                   19.659.642         19.659.642                    -                -                   Total Amortized cost

        Tagihan Derivatif                            103.939                    -          103.939                  -                  Derivative Receivable


        Kredit yang diberikan dan piutang                                                                                               Loan and receivables
             Kredit yang diberikan. piutang                                                                                                Loan and sharia
             dan pembiayaan Syariah - Net       280.702.960                     -      273.798.185          6.904.775                 financing receivables


        Liabilitas Keuangan                                                                                                             Financial Liabilities
        Liabilitas Derivatif                                  -                 -                  -                -                     Derivative payable
        Surat berharga yang
           diterbitkan                             8.828.249                    -        8.828.249                  -                       Securities issued
        Pinjaman yang diterima                    21.731.531                    -       21.731.531                  -                        Fund borrowing
        Pinjaman subordinasi                                                                                                               Subordinated loan
           dan efek-efek subordinasi               8.899.563                    -        8.899.563                  -                         and securities



   a.     Nilai wajar aset dan kewajiban keuangan                                         a.      The fair values of certain financial assets and
          tertentu, kecuali efek-efek dan Obligasi                                                liabilities, except for securities and Government
          Pemerintah yang dimiliki hingga jatuh tempo,                                            Bonds classified as held to maturity, loans, fund
          kredit yang diberikan, pinjaman yang diterima,                                          borrowings, and marketable securities issued
          dan surat berharga yang diterbitkan, mendekati                                          approximate to their carrying values due to their
          nilai tercatatnya karena mempunyai jangka                                               short-term maturities.
          waktu jatuh tempo yang singkat.

          Estimasi nilai wajar terhadap aset keuangan                                             The estimated fair values of certain financial
          tertentu ditetapkan berdasarkan diskonto arus                                           assets are determined based on discounted
          kas dengan menggunakan suku bunga pasar                                                 cash flows using money market interest rates
          uang yang berlaku untuk utang dengan risiko                                             for debt instruments with similar credit risk and
          kredit dan sisa jatuh tempo yang serupa.                                                remaining maturities.




                                                                              279
Page 676
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


47. NILAI WAJAR      ASET          DAN      LIABILITAS            47. FAIR VALUE OF FINANCIAL ASSETS AND
    KEUANGAN (lanjutan)                                               LIABILITIES (continued)

        Estimasi nilai wajar terhadap kewajiban                           The estimated fair values of certain financial
        keuangan tertentu yang tidak memiliki kuotasi di                  obligations which are not quoted in an active
        pasar aktif ditetapkan berdasarkan diskonto                       market are determined based on discounted
        arus kas dengan menggunakan suku bunga                            cash flows using interest rates of instruments
        utang baru dengan sisa jatuh tempo yang                           with similar remaining maturities.
        serupa.
   b.   Kredit yang diberikan                                        b.   Loans
        Portofolio kredit Bank secara umum terdiri dari                   Generally, the Bank’s loan portfolio consists of
        kredit yang diberikan dengan suku bunga                           loans with variable interest rate and short-term
        mengambang dan kredit yang diberikan dengan                       loans with fixed interest rate. Loans are stated
        jangka pendek dengan suku bunga tetap. Kredit                     at amortized cost. The estimated fair value of
        yang diberikan dinyatakan berdasarkan                             loans represents the discounted amount of
        amortized cost. Nilai wajar dari kredit yang                      estimated future cash flows expected to be
        diberikan menunjukkan nilai diskon dari                           received by the Bank using the current market
        perkiraan arus kas masa depan yang                                rates.
        diharapkan akan diterima oleh Bank dengan
        menggunakan suku bunga pasar saat ini.
        Nilai tercatat dari kredit yang diberikan dengan                  The carrying amounts of variable rate loans and
        suku bunga mengambang dan nilai tercatat                          short-term fixed rate loans are the reasonable
        atas kredit jangka pendek dengan suku bunga                       approximation of their fair values.
        tetap adalah perkiraan yang layak atas nilai
        wajar.
   c.   Efek-efek dan Obligasi pemerintah                            c.   Securities and Government bonds
        Nilai wajar untuk surat-surat berharga dan                        The fair values of amortized cost marketable
        Obligasi pemerintah yang diukur pada biaya                        securities and Government bonds are based on
        perolehan diamortisasi ditetapkan berdasarkan                     the market prices or broker/dealer price
        harga pasar atau harga kuotasi perantara                          quotations. When this information is not
        (broker)/ pedagang efek (dealer). Jika informasi                  available, the fair value is estimated using
        ini tidak tersedia, nilai wajar diestimasi dengan                 quoted market prices for securities with similar
        menggunakan harga pasar kuotasi efek yang                         credit, maturity and yield characteristics or
        memiliki karakteristik kredit, jatuh tempo dan                    using internal valuation model.
        yield yang serupa atau dinilai dengan
        menggunakan metode penilaian internal.
   d.   Surat-surat   berharga     yang    diterbitkan,              d.   Securities issued, fund borrowings                and
        pinjaman yang diterima dan pinjaman                               subordinated loan and securities
        subordinasi dan efek-efek subordinasi
        Nilai wajar agregat berdasarkan model diskonto                    The aggregate fair values are based on
        arus kas menggunakan tingkat suku bunga                           discounted cash flow model using current
        pasar untuk sisa periode jatuh temponya.                          market rate for the remaining term to maturity.




                                                            280
Page 677
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                             PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                    NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                     As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                               and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                  (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                         unless otherwise stated)


48. LABA PER SAHAM                                             48. EARNINGS PER SHARE
   Rekonsiliasi faktor-faktor penentu perhitungan laba              The reconciliation of the factors used in calculating
   per saham dasar untuk tahun yang berakhir tanggal                the basic earnings per share, for the year ended
   31 Desember 2023 dan 2022 adalah sebagai                         December 31, 2023 and 2022 are as follows:
   berikut:

                                                  31 Desember/
                                                December 31, 2023

  (i) Laba tahun berjalan                            3.500.988             (a)                       Income for the year (i)
  (ii) Rata-rata tertimbang                                                                           Weighted average (ii)
           saham biasa yang beredar                       14.022           (b)             number of shares outstanding
  (iii) Laba per saham dasar                                 249         (a/b)                Basic earnings per share (iii)

                                                  31 Desember/
                                                December 31, 2022

  (i) Laba tahun berjalan                            3.045.073             (a)                       Income for the year (i)
  (ii) Rata-rata tertimbang                                                                           Weighted average (ii)
           saham biasa yang beredar                       10.590           (b)             number of shares outstanding
  (iii) Laba per saham dasar                                 288         (a/b)                Basic earnings per share (iii)


49. PERJANJIAN DAN KONTINJENSI SIGNIFIKAN                      49. SIGNIFICANT                AGREEMENTS                  AND
                                                                   CONTINGENCIES
   a.   Perjanjian Signifikan                                       a.     Significant Agreements
        Pada tanggal 4 Desember 2023, Bank                                 On December 4, 2023, Bank signed an
        mengadakan perjanjian dengan PT Sinergy                            agreement with PT Sinergy Information
        Informasi Pratama sehubungan dengan                                Pratama in relation to procurement of Cash
        Pengadaan Cash Recycle Machine (CRM)                               Recycle Machine (CRM) 2023 with contract
        Tahun 2023 dengan nilai kontrak sebesar                            value of Rp133,863.
        Rp133.863.
        Pada tanggal 19 Desember 2023, Bank                                On December 19, 2023, Bank signed an
        mengadakan perjanjian dengan PT Multipolar                         agreement with PT Multipolar Technology Tbk
        Technology     Tbk     sehubungan    dengan                        in relation to re-procurement of PC Desktop and
        Pengadaan Ulang PC Desktop dan Notebook                            Notebook with Seat Management Scheme with
        Bank BTN dengan Skema Seat Management                              contract value of Rp115,980.
        dengan nilai kontrak sebesar Rp115.980.
        Pada tanggal 8 Februari 2023, Bank                                 On February 8, 2023, Bank signed an
        mengadakan perjanjian dengan PT Multipolar                         agreement with PT Multipolar Technology in
        Technology sehubungan dengan pengadaan                             connection with the procurement of network
        peremajaan       perangkat network    dan                          equipment upgrades and standardization of
        standarisasi LAN Menara Bank BTN dengan                            Bank BTN Tower LAN with a contract value of
        nilai kontrak Rp39.575.                                            Rp39,575.
        Pada tanggal 3 Februari 2023, Bank                                  On February 3, 2023, Bank signed an
        mengadakan perjanjian dengan PT Binayasa                            agreement with PT Binayasa Putra Batara in
        Putra Batara sehubungan dengan Jasa                                 relation to contractor services of construction
        Kontraktor Pekerjaan Pembangunan KC                                 for the Bank BTN KC Cirebon Building with
        Cirebon dengan nilai kontrak Rp39.100.                              contract value of Rp39,100.
        Pada tanggal 20 Februari 2023, Bank                                On February 20, 2023, Bank signed an
        mengadakan perjanjian dengan PT Trees                              agreement with PT Trees Solutions in
        Solutions sehubungan dengan pengadaan                              connection with the re-procurement of
        ulang Integrated End to End Procurement                            Integrated End to End Procurement with a
        dengan nilai kontrak Rp30.669.                                     contract value of Rp30,669.




                                                         281
Page 678
                                                               The original financial statements included herein are in the
                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                    unless otherwise stated)


49. PERJANJIAN DAN KONTINJENSI SIGNIFIKAN                    49. SIGNIFICANT     AGREEMENTS                          AND
    (LANJUTAN)                                                   CONTINGENCIES (CONTINUED)

   a.Perjanjian Signifikan (lanjutan)                           a.   Significant Agreements (continued)


       Pada tanggal 6 Januari 2023, Bank                             On January 6, 2023, Bank signed an
       mengadakan perjanjian dengan PT Binayasa                      agreement with PT Binayasa Putra Batara in
       Putra Batara sehubungan dengan Jasa                           relation to contractor services of renovation for
       kontraktor pekerjaan renovasi     Gedung                      the Bank BTN Tanah Abang Pusdiklat Building
       Pusdiklat Bank BTN Tanah Abang dengan nilai                   with contract value of Rp30,500.
       kontrak sebesar Rp30.500.

       Pada tanggal 11 Juli 2023, Bank mengadakan                    On July 11, 2023, Bank signed an agreement
       perjanjian dengan PT Berkat Manunggal Energi                  with PT Berkat Manunggal Energi regarding the
       sehubungan dengan pengadaan penggantian                       procurement of generator replacement for the
       genset Gedung Menara BTN dengan nilai                         BTN Tower Building with a contract value of Rp
       kontrak Rp 13.986.                                            13,986.

       Pada tanggal 15 Maret 2023, Bank                              On March 15, 2023, Bank signed an agreement
       mengadakan        perjanjian   dengan     PT                  with PT Telekomunikasi Indonesia in
       Telekomunikasi Indonesia sehubungan dengan                    connection with the procurement of a third year
       pengadaan      perpanjangan    sewa    lokasi                 Sentul Data Center collocation lease with a
       (collocation) Data Center Sentul tahun ketiga                 contract value of Rp10,638.
       dengan nilai kontrak Rp10.638.

       Pada tanggal 16 Agustus 2023, Bank                            On August 16, 2023, Bank signed an
       mengadakan perjanjian dengan PT Casa Prima                    agreement with PT Casa Prima Indonesia
       Indonesia sehubungan dengan Jasa Kontraktor                   regarding the KC Kudus Relocation Renovation
       Renovasi Relokasi KC Kudus dengan nilai                       Contractor Services with a contract value of Rp
       kontrak Rp7.495.                                              7,495.

       Pada tanggal 4 September 2023, Bank                           On September 4, 2023, Bank signed an
       mengadakan perjanjian dengan PT Casa Prima                    agreement with PT Casa Prima Indonesia
       Indonesia sehubungan dengan Jasa Kontraktor                   regarding Relayout Contractor Services and
       Relayout     dan  Pembangunan       Gedung                    Construction of the Banyumanik Main
       Sentralisasi   Ruang     Dokumen      Pokok                   Document Room Centralized Building with a
       Banyumanik dengan nilai kontrak Rp7.400.                      contract value of Rp7,400.

       Pada tanggal 29 Agustus 2022, Bank                            On August 29, 2022, Bank signed an
       mengadakan perjanjian dengan PT Surya                         agreement with PT Surya Sudeco in relation to
       Sudeco sehubungan dengan Pengadaan Sewa                       procurement for Operational Car Lease with
       Mobil Operasional Bank BTN dengan nilai                       contract value of Rp77,830.
       kontrak sebesar Rp77.830.

       Pada tanggal 4 Agustus 2022, Bank                             On August 4, 2022, Bank signed an agreement
       mengadakan perjanjian dengan PT Mitra                         with PT Mitra Integrasi Informatika in relation to
       Integrasi Informatika sehubungan dengan                       procurement for License Package Microsoft
       Pengadaan Paket License Microsoft Dukungan                    Support and Supporting Services for Data
       dan Layanan Pendukung Data Center dengan                      Center with contract value of Rp47,990 for
       nilai kontrak sebesar Rp47.990 untuk jangka                   three years.
       waktu selama tiga tahun.

       Pada tanggal 22 Januari 2022, Bank                            On January 22, 2022, Bank signed an
       mengadakan           perjanjian     dengan                    agreement with PT Swadharma Duta Data in
       PT Swadharma Duta Data sehubungan dengan                      relation to procurement for The Extenxion of
       Pengadaan Perpanjangan Jasa Teknologi                         Information Technology Service in Outlet with
       Informasi pada Outlet dengan nilai kontrak                    contract value of Rp27,663 for a period of two
       sebesar Rp27.663 untuk jangka waktu selama                    years and on February 27, 2023 was a second
       dua tahun dan pada tanggal 27 Februari 2023                   year IT outlet service extension with a contract
       merupakan perpanjangan tahun kedua dengan                     value of Rp13,832.
       nilai kontrak Rp13.832.


                                                       282
Page 679
                                                               The original financial statements included herein are in the
                                                                                                     Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                        PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                               NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                          and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                             (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                    unless otherwise stated)


49. PERJANJIAN DAN KONTINJENSI SIGNIFIKAN                    49. SIGNIFICANT     AGREEMENTS                          AND
    (LANJUTAN)                                                   CONTINGENCIES (CONTINUED)

   a.Perjanjian Signifikan (lanjutan)                           a.   Significant Agreements (continued)

       Pada tanggal 14 November 2022, Bank                           On November 14, 2022, Bank signed an
       mengadakan perjanjian dengan PT Pesona Adi                    agreement with PT Pesona Adi Batara in
       Batara sehubungan dengan Pengadaan Mobil                      relation to Procurement of operational cars for
       operasional pejabat BTN tahun 2022 dengan                     BTN officials in 2022 with contract value of
       nilai kontrak sebesar Rp21.500.                               Rp21,500.

       Pada tanggal 20 Desember 2022, Bank                           On December 20, 2022, Bank signed an
       mengadakan perjanjian dengan PT Dana                          agreement with PT Dana Pensiun Bank BTN in
       Pensiun Bank BTN sehubungan dengan                            relation to Procurement extension of the lease
       perpanjangan sewa gedung graha exitama                        for the 2nd floor until 5th floor of the Graha
       lantai 2 sampai dengan 5 (Learning Center                     Extama building (Tebet Learning Center) with
       Tebet) sebesar Rp18.204.                                      contract value of Rp18,204.

       Pada tanggal 2 November 2022, Bank                            On November 2, 2022, Bank signed an
       mengadakan perjanjian dengan PT Binayasa                      agreement with PT Binayasa Putra Batara in
       Putra Batara sehubungan dengan Jasa                           relation to contractor services of renovation for
       kontraktor renovasi lantai 6 Menara BTN                       the 6th floor of BTN building with contract value
       dengan nilai kontrak sebesar Rp17.500.                        of Rp17,500.

       Pada tanggal 27 Mei 2022, Bank mengadakan                     On May 27, 2022, Bank signed an agreement
       perjanjian dengan PT Simian Solutions                         with PT Simian Solutions in relation to
       sehubungan dengan Pengadaan Pelaksana                         procurement of Implementation of Custodian
       Sistem Custodian Service dengan nilai kontrak                 Service System with contract value of
       sebesar Rp17.000.                                             Rp17,000.


       Pada ada tanggal 21 Juli 2022, Bank                           On July 21, 2022, Bank signed an agreement
       mengadakan perjanjian dengan PT Sinergy                       with PT Sinergy Informasi Pratama in
       Informasi Pratama sehubungan dengan                           connection with the Procurement of Firewalls
       Pengadaan Firewall untuk WAN DC Sentul dan                    for WAN DC Sentul and DC Surabaya with a
       DC Surabaya dengan nilai kontrak sebesar                      contract value of Rp.11,550 for a period of one
       Rp.11.550 untuk jangka waktu selama satu                      year.
       tahun.

       Pada tanggal 16 Maret 2022, Bank                              On March 16, 2022, Bank signed an agreement
       mengadakan      perjanjian  dengan    PT                      with PT Hartekprima Listrindo in relation to
       Hartekprima Listrindo sehubungan dengan                       Procurement of Generator Set for RBB 2022
       Pengadaan Genset Peruntukan RBB 2022 dan                      and non RBB needed with contract value of
       Kebutuhan Non RBB dengan nilai kontrak                        Rp10,823.
       sebesar Rp10.823.

       Pada tanggal 22 Juli 2022, Bank mengadakan                    On July 22, 2022, Bank signed an agreement
       perjanjian dengan PT Casa Prima Indonesia                     with PT Casa Prima Indonesia in relation to
       sehubungan       dengan    Pengadaan  Jasa                    Procurement of KCS Makassar Renovation
       Kontraktor Renovasi KCS Makassar dengan                       Contractor Services with contract value of
       nilai kontrak sebesar Rp9.850.                                Rp9,850.




                                                       283
Page 680
                                                                   The original financial statements included herein are in the
                                                                                                         Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                            PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                   NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                    As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                              and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                 (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                        unless otherwise stated)


49. PERJANJIAN DAN KONTINJENSI SIGNIFIKAN                        49. SIGNIFICANT      AGREEMENTS                         AND
    (lanjutan)                                                       CONTINGECIES (continued)

   b.   Liabilitas Kontinjensi                                      b.   Contingent Liabilities

        Dalam       melakukan     usahanya,       Bank                   In conducting its business, the Bank is a
        menghadapi berbagai perkara hukum dan                            defendant with various litigation proceedings
        tuntutan di mana Bank sebagai tergugat,                          and legal claims mainly with respect to matters
        terutama sehubungan dengan kepatuhan                             of contractual compliance. Although there is no
        dengan kontrak. Walaupun belum ada                               clear assurance yet, the Bank believes that
        kepastian yang jelas, Bank berpendapat bahwa                     based on information currently available, the
        berdasarkan informasi yang ada dan keputusan                     ultimate resolution of these legal proceedings
        terakhir dari perkara bahwa tuntutan hukum ini                   and legal claims will not likely have a material
        tidak akan berdampak secara material pada                        effect on the operations, financial position or
        operasi, posisi keuangan atau tingkat likuiditas                 liquidity level of Bank
        Bank.

        Pada tanggal-tanggal 31 Desember 2023 dan                        As of December 31, 2023 and 2022, Bank has
        2022, Bank telah membentuk cadangan                              established an allowance (included in
        (disajikan dalam akun “Liabilitas Imbalan Kerja                  “Employee Benefits and Other Liabilities”) for
        dan Lain-lain”) untuk sejumlah tuntutan hukum                    several pending lawsuits filed against Bank
        yang belum diputuskan masing-masing adalah                       amounted to Rp95,209 and Rp160,209.
        sebesar Rp95.209 dan Rp160.209.

        Manajemen berpendapat bahwa jumlah                               Management believes that the allowance is
        cadangan yang dibentuk atas kemungkinan                          adequate to cover possible losses arising from
        timbulnya kerugian akibat tuntutan hukum yang                    pending litigations or legal claims that are
        belum diputuskan atau masih dalam proses                         currently in progress.
        tersebut telah memadai.

50. PERNYATAAN    STANDAR    AKUNTANSI                           50. REVISED AND ISSUED STATEMENTS                          OF
    KEUANGAN   YANG  DIKELUARKAN  DAN                                FINANCIAL ACCOUNTING STANDARDS
    DIREVISI
   Amandemen dan Penyesuaian Pernyataan Standar                     The amendments and adjustments to Statement of
   Akuntansi Keuangan (PSAK) baru yang telah                        Financial Accounting Standards (SFAS) that have
   disahkan oleh Dewan Standar Akuntansi Keuangan                   been approved by the Financial Accounting
   (DSAK) - Ikatan Akuntan Indonesia (IAI), tetapi                  Standards Board (IFAS) - Indonesian Institute of
   belum berlaku efektif untuk laporan keuangan                     Accountants (IAI), but have not been effective for
   selama tahun berjalan diungkapkan di bawah ini.                  financial statements during the year are disclosed
                                                                    below.

   Bank bermaksud untuk menerapkan amendemen                        The Bank intends to implement the amendments
   dan penyesuaian PSAK tersebut, jika dipandang                    and adjustments to the SFAS, if it is deemed
   relevan, saat telah menjadi efektif. Berlaku efektif             relevant, when they become effective. Effective
   setelah tanggal 1 Januari 2024:                                  after January 1, 2024:

   a.   Amendemen PSAK No. 1, ”Penyajian Laporan                    a.   Amendment of SFAS No. 1: “Presentation of
        Keuangan” tentang liabilitas jangka panjang                      Financial Statements” regarding long-term
        dengan konvenan. Penerapan amendemen                             liabilities with the convention. The application of
        tersebut berlaku efektif sejak 1 Januari 2024                    the amendment is effective from January 1,
        sesuai dengan perubahan tanggal berlaku                          2024, in accordance with the change in the
                                                                         effective date of Amendment of SFAS No. 1
        efektifnya Amendemen PSAK No. 1 tentang
                                                                         regarding        “Presentation     of    Financial
        ”Penyajian     Laporan      Keuangan”   terkait                  Statements” related to “Classification of
        ”Klasifikasi Liabilitas sebagai Jangka Pendek                    Liabilities as Short Term or Long Term” which
        atau Jangka Panjang” yang sebelumnya                             was previously became effective from January
        berlaku efektif sejak 1 Januari 2023 menjadi 1                   1, 2023, will become January 1, 2024.
        Januari 2024.




                                                           284
Page 681
                                                                     The original financial statements included herein are in the
                                                                                                           Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


50. PERNYATAAN          STANDAR    AKUNTANSI                       50. REVISED AND ISSUED STATEMENTS OF
    KEUANGAN       YANG    DIKELUARKAN  DAN                            FINANCIAL   ACCOUNTING  STANDARDS
    DIREVISI (lanjutan)                                                (continued)
   Amandemen dan Penyesuaian Pernyataan Standar                       The amendments and adjustments to Statement of
   Akuntansi Keuangan (PSAK) baru yang telah                          Financial Accounting Standards (SFAS) that have
   disahkan oleh Dewan Standar Akuntansi Keuangan                     been approved by the Financial Accounting
   (DSAK) - Ikatan Akuntan Indonesia (IAI), tetapi                    Standards Board (IFAS) - Indonesian Institute of
   belum berlaku efektif untuk laporan keuangan                       Accountants (IAI), but have not been effective for
   selama tahun berjalan diungkapkan di bawah                         financial statements during the year are disclosed
   ini.(lanjutan)                                                     below. (continued)

   Bank bermaksud untuk menerapkan amendemen                          The Bank intends to implement the amendments
   dan penyesuaian PSAK tersebut, jika dipandang                      and adjustments to the SFAS, if it is deemed
   relevan, saat telah menjadi efektif. Berlaku efektif               relevant, when they become effective. Effective
   setelah tanggal 1 Januari 2024: (lanjutan)                         after January 1, 2024:(continued)


   b.   Amendemen PSAK No. 73, “Sewa” terkait                         b.   Amendment of SFAS No. 73: “Lease” regarding
        liabilitas sewa dalam jual dan sewa-balik.                         liabilities in sale-and-leaseback transactions.
        Amendemen tersebut mengadopsi seluruh                              The amendment adopts the entire provision in
        pengaturan dalam Amendemen IFRS 16                                 IFRS Amendment 16 on “Lease” regarding
        tentang “Lease” terkait “Lease Liability in a Sale                 “Lease Liability in Sale and Leaseback”.
        and Leaseback”. Penerapan amendemen ini                            Application of this amendment commences for
        dimulai untuk periode tahun buku yang dimulai                      the period of the financial year beginning on or
        pada atau setelah tanggal 1 Januari 2024 dan                       after January 1, 2024, and early adoption is
        penerapan lebih dini diperkenankan.                                permitted.

   c.   Amandemen PSAK No. 2 “Laporan Arus Kas”                       c.   Amendment to PSAK No. 2 “Cash Flow
        dan Amandemen PSAK No. 60 “Instrumen                               Statement” and Amendment to PSAK No. 60
        Keuangan: Pengungkapan tentang Pengaturan                          “Financial Instruments: Disclosures about
        Pembiayaan Pemasok”. Penerapan lebih dini                          Supplier Financing Arrangements”. Early
        diperkenankan.                                                     application is permitted.

   Berlaku efektif setelah tanggal 1 Januari 2025:                    Effective after January 1, 2025:

   a.   Amandemen PSAK No. 10 “Pengaruh                               a.   Amendment to PSAK No. 10 “The Effect of
        Perubahan Kurs Valuta Asing tentang                                Changes in Foreign Exchange Rates on the
        Kekurangan Ketertukaran”. Penerapan lebih                          Lack of Convertibility”. Early application is
        dini diperkenankan.                                                permitted.

   Pada saat penerbitan laporan keuangan, Bank                        As at the authorization date of this financial
   masih mempelajari dampak yang mungkin timbul                       statements, the Bank is still evaluating the potential
   dari penerapan standar revisi tersebut serta                       impact of these revised standards to the Bank’s
   pengaruhnya pada laporan keuangan Bank.                            financial statements.




                                                             285
Page 682
                                                                                        The original financial statements included herein are in the
                                                                                                                              Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                                                PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                                        As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                                  and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                                     (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                                            unless otherwise stated)


51. TAMBAHAN INFORMASI ARUS KAS                                                    51. SUPPLEMENTARY CASH FLOW INFORMATION

    Perubahan pada liabilitas yang timbul dari aktivitas                                    Changes in liabilities arising from financing activities
    pendanaan pada laporan arus kas adalah sebagai                                          in the cash flow statement are as follows:
    berikut:
                                                          Arus Kas/Cash Flow

                                   1 Januari/        Penerimaan/        Pembayaran/              Perubahan Non-Kas/ 31 Desember/
                                 January 1, 2023      Receipts            Payment                Non-Cash Changes December 31, 2023

  Surat berharga
    yang diterbitkan                     8.652.260         2.449.019            (2.769.764)                (59.417)           8.272.098       Securities issued
                                                                                                                                                 Securities Sold
  Efek-efek yang dijual dengan                                                                                                             Under Repurchase
    janji dibeli kembali                         -        67.691.353           (67.766.743)                  75.390                   -        Agreements
  Pinjaman yang diterima               24.821.005         11.185.162            (2.187.576)                (56.502)          33.762.089       Fund Borrowings
  Pinjaman Subordinasi dan                                                                                                                  Subordinated loans
    efek-efek subordinasi                9.158.219                 -                        -              (45.382)            9.112.837       and securities
                                                                                                                                                    Payment of
  Pembayaran Liabilitas Sewa              167.633                  -             (81.973)                  101.036             186.696         Lease liability

  Total                                42.799.117         81.325.534           (72.806.056)                 15.125           51.333.720                   Total


                                                          Arus Kas/Cash Flow

                                   1 Januari/        Penerimaan/        Pembayaran/              Perubahan Non-Kas/     31 Desember/
                                 January 1, 2022      Receipts            Payment                Non-Cash Changes     December 31, 2022

  Surat Berharga
    yang Diterbitkan                   12.371.708          1.541.330            (5.263.000)                  2.222            8.652.260       Securities Issued
                                                                                                                                                Securities Sold
  Efek-efek yang dijual dengan                                                                                                             Under repurchase
    janji dibeli kembali                         -           592.326              (592.326)                      -                    -         agreements
  Pinjaman yang diterima                22.062.291        11.814.826            (9.095.884)                 39.772           24.821.005     Fund borrowings
  Pinjaman subordinasi dan                                                                                                                  Subordinated loans
    efek-efek subordinasi                8.759.744                 -                        -              398.475             9.158.219      and securities
                                                                                                                                                   Payment of
  Pembayaran liabilitas sewa              126.348                  -               (84.983)                126.268              167.633        Lease liability

  Total                                43.320.091         13.948.482           (15.036.193)                566.737           42.799.117                   Total




52. INFORMASI TAMBAHAN                                                             52. ADDITIONAL INFORMATION

   a.     Pada tanggal 31 Desember 2023 dan 2022,                                           a.     As of December 31, 2023 and 2022, the Bank’s
          rasio aset produktif yang diklasifikasikan non-                                          non-performing assets to total earning assets
          performing terhadap jumlah aset produktif (non-                                          (non-performing ratio) are 2.58% and 2.74%,
          performing ratio) masing-masing adalah                                                   respectively.
          sebesar 2,58% dan 2,74%.

   b.     Pada tanggal 31 Desember 2023 dan 2022,                                           b.     As of December 31, 2023 and 2022, the ratio of
          rasio jumlah cadangan kerugian penurunan                                                 allowance for impairment losses on financial
          nilai aset keuangan yang telah dibentuk                                                  assets based on SFAS No. 71 to minimum
          berdasarkan PSAK No. 71 terhadap jumlah                                                  allowance for impairment losses based on
          minimum cadangan kerugian penurunan nilai                                                Financial Service Authorithy regulation is
          aset keuangan sesuai ketentuan Otoritas Jasa                                             121.99% and 130.00%, respectively.
          Keuangan masing-masing sebesar 121,99%
          dan 130,00%.




                                                                       286
Page 683
                                                                    The original financial statements included herein are in the
                                                                                                          Indonesian language.

 PT BANK TABUNGAN NEGARA (PERSERO) TBK                              PT BANK TABUNGAN NEGARA (PERSERO) TBK
     CATATAN ATAS LAPORAN KEUANGAN                                     NOTES TO THE FINANCIAL STATEMENTS
      Tanggal 31 Desember 2023 dan untuk                                      As of December 31, 2023
   Tahun yang Berakhir pada Tanggal Tersebut                                and for the Year Then Ended
        (Disajikan dalam jutaan Rupiah,                                   (Expressed in millions of Rupiah,
            kecuali dinyatakan lain)                                          unless otherwise stated)


52. INFORMASI TAMBAHAN (lanjutan)                                 52. ADDITIONAL INFORMATION (continued)

   c.   Kegiatan Jasa Kustodian                                    c. Custodian Services Activities

        PT Bank Tabungan Negara (Persero) Tbk                         PT Bank Tabungan Negara (Persero) Tbk provides
        menyelenggarakan Jasa Kustodian (bank                         Custodian Services (custodian bank) since 2023
        kustodian) sejak tahun 2023 berdasarkan Surat                 based on Decree of the Board of Commissioners of
        Keputusan Dewan Komisioner Otoritas Jasa                      the Financial Services Authority No. KEP-
        Keuangan No. KEP-37/PM.2/2022 tanggal 17                      37/PM.2/2022 dated November 17, 2022.
        November 2022.

        Jasa kustodian yang diselenggarakan berada                    Custodian services provided are under the
        dibawah Divisi Financial Institution and Capital              Financial Institution and Capital Market Division.
        Market. Jasa yang diselenggarakan meliputi                    Services provided include the following:
        sebagai berikut :                                              • Storage and administration services (safe
        • Jasa penyimpanan dan pengadministrasian                         keeping services);
           (safe keeping services);                                    • Securities transaction settlement services
        • Jasa      Penyelesaian       transaksi    efek                  (Settlement Handling);
           (settlement handling);                                      • Customer rights management services related
        • Jasa pengurusan hak nasabah terkait                             to securities held at the custodian (corporate
           dengan efek yang disimpan di kustodian                         action)
           (corporate action)                                          • Trustee services/representing customers to
        • Jasa perwalian/ mewakili nasabah untuk                          attend and transmit votes at the GMS, EGMS,
           menghadiri dan meneruskan suara dalam                          RUPO (proxy services);
           RUPS, RUPSLB, RUPO (proxy services);                        • Information and reporting services; (Information
        • Jasa Informasi dan pelaporan; (Information                      & Reporting, including: Portfolio Valuation
           & Reporting, antara lain : Portfolio Valuation                 Report, Settlement Report, Corporate Action
           Report, Settlement Report, Corporate Action                    Report).
           Report).                                                    • Custody services for fund management
        • Jasa Custody untuk kontrak pengelolaan                          contracts, mutual funds issued by investment
           dana, reksa dana yang diterbitkan oleh                         managers.
           manajer investasi.

        Aset milik nasabah yang diadministrasikan oleh                Customer-owned assets administered by BTN
        kustodian BTN per 31 Desember 2023 sebesar                    custodian as of December 31, 2023 amount to the
        ekuivalen Rp7.941.087 juta yang terdiri dari                  equivalent of Rp7,941,087 million consisting of
        saham, surat berharga Negara (SBN), obligasi                  shares, government securities (SBN), corporate
        koorporasi baik dalam mata uang rupiah                        bonds both in rupiah and USD.
        maupun USD.

        Asset yang diadministrasikan jasa kustodian                   Assets administered by custodian services are not
        tidak termasuk dalam laporan posisi keuangan.                 included in the consolidated statement of financial
                                                                      position.


53. PENYELESAIAN LAPORAN KEUANGAN                                 53. COMPLETION            OF         THE        FINANCIAL
                                                                      STATEMENTS

   Manajemen Bank bertanggung jawab penuh                            The management of the Bank is fully responsible for
   terhadap penyajian laporan keuangan terlampir                     the preparation of the accompanying Financial
   yang diselesaikan dan disetujui untuk diterbitkan                 Statements which were completed and authorized
   pada tanggal 12 Februari 2024.                                    for issuance on February 12, 2024.




                                                            287
Page 684
Program Pendanaan Usaha Mikro dan Usaha Kecil
PT Bank Tabungan Negara (Persero) Tbk

Laporan keuangan tanggal 31 Desember 2023
dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen
Page 685

          
Page 686
                          PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                               PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                                      TANGGAL 31 DESEMBER 2023
                        DAN UNTUK TAHUN YANG BERAKHIR PADA TANGGAL TERSEBUT
                                BESERTA LAPORAN AUDITOR INDEPENDEN



                                                                      Daftar Isi


                                                                                                                                            Halaman

Laporan auditor independen

Laporan posisi keuangan ...........................................................................................................               1

Laporan aktivitas .......................................................................................................................         2

Laporan arus kas .......................................................................................................................          3

Catatan atas laporan keuangan .................................................................................................                4-13




                                                             *************************
Page 687

          
Page 688

          
Page 689

          
Page 690
                       PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                            PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                                  LAPORAN POSISI KEUANGAN
                                       31 Desember 2023
                                    (Disajikan dalam Rupiah)



                                                            Catatan      31 Desember 2023            31 Desember 2022
ASET
Kas dan Setara Kas                                        2b,2j,4,11          10.970.559.980              11.732.472.238
Piutang Pinjaman Mitra Binaan - neto                       2c,2e,5
    (Setelah dikurangi Penyisihan
    Penurunan Nilai Piutang Pinjaman Sebesar
    Rp36.893.857.090 dan Rp33.795.371.727
    Masing-masing Pada Tanggal
    31 Desember 2023 dan 2022)                                                12.428.254.008              21.809.469.160
Piutang Lain-lain                                            10,11             8.000.000.000                           -
Piutang Jasa Administrasi Pinjaman                            2d,6               123.380.251                  85.576.298
JUMLAH ASET                                                                   31.522.194.239              33.627.517.696



ASET NETO
Aset Neto Tidak Terikat                                       2f,7            31.522.194.239              33.627.517.696
JUMLAH LIABILITAS DAN ASET NETO                                               31.522.194.239              33.627.517.696




  Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan

                                                             1
Page 691
                       PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                           PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                                       LAPORAN AKTIVITAS
                              Untuk Tahun yang Berakhir pada Tanggal
                                        31 Desember 2023
                                     (Disajikan dalam Rupiah)



                                                                             Tahun yang berakhir pada tanggal
                                                            Catatan      31 Desember 2023            31 Desember 2022
PERUBAHAN ASET NETO TIDAK TERIKAT

PENDAPATAN
Pendapatan Jasa Administrasi Pinjaman                         2g,8              1.065.855.899               1.088.645.050
Pendapatan Lain-Lain                                          2h,9                  2.744.099                   1.932.666
                                                                                1.068.599.998               1.090.577.716

BEBAN
Beban Penyisihan Penurunan
   Nilai Piutang Pinjaman                                    2i,5c             (3.098.485.363)            (1.312.513.787)
Beban lain-lain                                                                   (75.438.092)                          -
                                                                               (3.173.923.455)             (1.312.513.787)

KENAIKAN (PENURUNAN) ASET NETO
   TIDAK TERIKAT                                                               (2.105.323.457)              (221.936.071)
ASET NETO PADA AWAL TAHUN                                                     33.627.517.696              33.849.453.767
ASET NETO PADA AKHIR TAHUN                                                    31.522.194.239              33.627.517.696




  Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan

                                                             2
Page 692
                       PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                           PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                                       LAPORAN ARUS KAS
                              Untuk Tahun yang Berakhir pada Tanggal
                                        31 Desember 2023
                                     (Disajikan dalam Rupiah)



                                                                             Tahun yang berakhir pada tanggal
                                                            Catatan      31 Desember 2023            31 Desember 2022
ARUS KAS DARI AKTIVITAS OPERASI
Pencairan Pinjaman Mitra Binaan                                               (9.161.600.000)           (18.386.450.000)
Pengalihan pengelolaan dana mitra binaan                         10           (8.000.000.000)                          -
Penerimaan Pokok Angsuran                                                     15.264.329.788              13.799.087.350
Pendapatan Jasa Administrasi Pinjaman                                           1.132.613.855              1.063.597.362
Pendapatan Lain-Lain                                             9                  2.744.099                  1.932.666
Kas Neto Yang Digunakan untuk
   Aktivitas Operasi                                                             (761.912.258)            (3.521.832.622)


(PENURUNAN) KENAIKAN NETO DALAM KAS
   DAN SETARA KAS                                                               (761.912.258)             (3.521.832.622)

KAS DAN SETARA KAS AWAL TAHUN                                                 11.732.472.238              15.254.304.860
KAS DAN SETARA KAS AKHIR TAHUN                                                10.970.559.980              11.732.472.238




  Catatan atas laporan keuangan terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan secara keseluruhan

                                                             3
Page 693
                PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                     PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                        CATATAN ATAS LAPORAN KEUANGAN
      Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                (Disajikan dalam Rupiah)


1. PENJELASAN UMUM

  a. Pendirian dan Informasi Umum

     Program Tanggung Jawab Sosial dan Lingkungan Badan Usaha Milik Negara PT Bank Tabungan
     Negara (Persero) Tbk dilaksanakan sesuai dengan Peraturan Menteri Badan Usaha Milik Negara
     Republik Indonesia No. PER-05/MBU/04/2021 tentang Program Tanggung Jawab Sosial dan
     Lingkungan Badan Usaha Milik Negara (Program TJSL BUMN), yang antara lain mengatur
     bahwa, sebagaimana disebut dalam Pasal 23 ayat (3), laporan keuangan dan pelaksanaan
     Program TJSL BUMN dilaporkan menjadi satu kesatuan dalam laporan berkala dan laporan
     tahunan kinerja BUMN Pembina.

     Selain hal di atas, antara lain, sebagaimana diatur dalam Pasal 23 ayat (4), untuk laporan
     keuangan dan pelaksanaan Program Pendanaan Usaha Mikro dan Usaha Kecil tahunan tetap
     dilaporkan tersendiri dan harus diaudit oleh Kantor Akuntan Publik secara terpisah dari audit
     laporan keuangan BUMN Pembina.
     Definisi Program Pendanaan Usaha Mikro dan Usaha Kecil mengacu kepada peraturan Menteri
     No. PER-05/MBU/04/2021 tentang Program Tanggung Jawab Sosial dan Lingkungan Badan
     Usaha Milik Negara (Program TJSL BUMN) dan ketentuan-ketentuan peraturan
     pelaksanaannya adalah tentang Program Pendanaan UMK yang bertujuan untuk meningkatkan
     kemampuan usaha kecil agar menjadi tangguh dan mandiri melalui pemanfaatan dana BUMN.

  b. Kegiatan Utama

     Kegiatan utama Program Pendanaan Usaha Mikro dan Usaha Kecil (UMK) adalah penyaluran
     pinjaman dan penyaluran dana pembinaan. Dana Program Pendanaan UMK kepada Mitra Binaan
     disalurkan dalam bentuk:

     a. Pinjaman untuk membiayai modal kerja dalam rangka meningkatkan produksi dan penjualan;
     b. Pinjaman khusus untuk membiayai kebutuhan yang bersifat jangka pendek dalam rangka
        memenuhi pesanan dari rekanan usaha mitra binaan:
     c. Beban pembinaan:
        1) Untuk membiayai pendidikan, pelatihan, penelitian, pemagangan, pemasaran, promosi,
            yang menyangkut peningkatan kualitas sumber daya manusia dan kemampuan
            pengelolaan usahanya;
        2) Beban pembinaan hanya dapat diberikan kepada atau untuk kepentingan Mitra Binaan

  c. Struktur Organisasi dan Susunan Pengelola

     Susunan    pengelola   Program     Pendanaan         UMK     BTN     pada     tanggal-tanggal
     31 Desember 2023 dan 2022 adalah sebagai berikut:

                                                   2023                          2022
     Pembina                             Nixon L.P. Napitupulu           Haru Koesmahargyo
                                            Hirwandi Gafar                 Hirwandi Gafar

     Program Pendanaan UMK
     Pimpinan                           Roganda S. Mangapul*                Budi Permana
                                              Siahaan

     Pelaksana                             Ardi Darmawan                  Ardi Darmawan
     Pelaksana                           Mayang Shafira S**              Harry Kevinta J M*
     Pelaksana                           Diandary Denovari**                 Rizqy El M
     Pelaksana                                    -                   Angga Dwi Yanuar Putra**



                                               4
Page 694
                 PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                      PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                         CATATAN ATAS LAPORAN KEUANGAN
       Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                 (Disajikan dalam Rupiah)


1. PENJELASAN UMUM (lanjutan)

   c. Struktur Organisasi dan Susunan Pengelola (lanjutan)
      Tahun 2023
      *)     Menjadi Pimpinan Program Pendanaan UMK sejak November 2023
      **)    Menjadi Pelaksana Program Pendanaan UMK sejak Mei 2023

      Tahun 2022
      *)     Menjadi Pelaksana Program Pendanaan sejak Januari 2022
      **)    Menjadi Pelaksana Program Pendanaan UMK s.d. Juli 2022


      Mulai tahun 2021, struktur pengelola Program TJSL BUMN mengikuti peraturan terbaru dari Meneg
      BUMN No. PER-05/MBU/04/2021 dimana Program TJSL BUMN dilaporkan terpisah dan menjadi
      satu kesatuan dari laporan keuangan BUMN Pembina.

   d. Ketentuan Program Pendanaan UMK Mengacu kepada Peraturan Meneg BUMN No. PER-
      1/MBU/03/2023 tanggal 3 Maret 2023

      1) Program Pendanaan UMK adalah program untuk meningkatkan kemampuan usaha mikro
         dan usaha kecil agar menjadi tangguh dan mandiri

      2) Dalam peraturan di atas diatur tentang kriteria usaha mikro dan usaha kecil yang berhak
         menjadi mitra binaan BUMN, antara lain, sebagai berikut:
         i) dimiliki oleh warga negara Indonesia;
         ii) belum memenuhi kriteria atau memiliki akses pinjaman kepada lembaga pendanaan
              atau perbankan;
         iii) diutamakan usaha mikro dan usaha kecil dengan jenis usaha yang sejalan dengan
              bidang dan/atau mendukung bisnis BUMN;
         iv) diutamakan usaha mikro dan usaha kecil yang berlokasi di wilayah kerja BUMN
         v) berdiri sendiri, bukan merupakan anak perusahaan atau cabang perusahaan yang
              dimiliki, dikuasai, atau berafiliasi secara langsung maupun tidak langsung, dengan
              usaha menengah atau usaha besar;
         vi) berbentuk usaha orang perseorangan dan/atau sekelompok orang, badan usaha yang
              tidak berbadan hukum, atau badan usaha yang berbadan hukum
         vii) mempunyai potensi dan prospek usaha untuk dikembangkan.

      3) Bentuk dan maksimum pendanaannya adalah sebagai berikut:
         a. Pemberian modal kerja dalam bentuk pinjaman dan/atau pembiayaan syariah dengan
             jumlah pinjaman dan/atau pembiayaan syariah untuk setiap usaha mikro dan usaha
             kecil paling banyak Rp250.000.000.
         b. Pendanaan tambahan dalam bentuk pinjaman dan/atau pembiayaan syariah untuk
             membiayai kebutuhan yang bersifat jangka pendek maksimal 1 tahun untuk memenuhi
             pesanan dari rekanan usaha mikro dan usaha kecil dengan jumlah paling banyak
             Rp100.000.000.
         c. Modal kerja dalam bentuk pinjaman sebagaimana dimaksud pada huruf a dikenakan
             jasa administrasi sebesar:
             - 3% (tiga persen) efektif per tahun;
             - suku bunga flat (tetap) yang setara dengan 3% (tiga persen) efektif per tahun; atau
             - ketentuan lain yang ditetapkan Menteri,
            dengan jangka waktu/tenor pinjaman paling lama 3 (tiga) tahun.
         d. Pembiayaan syariah sebagaimana dimaksud pada huruf a diberikan berdasarkan:
             - prinsip jual beli, maka proyeksi margin yang dihasilkan disetarakan dengan margin
                 sebesar jasa administrasi sebagaimana dimaksud pada ayat (2); atau
             - prinsip bagi hasil, maka rasio bagi hasil yang diterima BUMN mulai dari 10%
                 (sepuluh persen) sampai dengan paling banyak 50% (lima puluh persen)
                 berdasarkan perjanjian.




                                                              5
Page 695
                PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                     PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                        CATATAN ATAS LAPORAN KEUANGAN
      Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                (Disajikan dalam Rupiah)


1. PENJELASAN UMUM (lanjutan)

   d. Ketentuan Program Pendanaan UMK Mengacu kepada Peraturan Meneg BUMN No. PER-
      1/MBU/03/2023 tanggal 3 Maret 2023 (lanjutan)

      4) Syarat dan kondisi:

         Untuk tata cara penyaluran pinjaman dan/atau pembiayaan syariah dalam Program
         Pendanaan UMK diatur syarat dan kondisi yang harus dipenuhi calon usaha binaan, antara
         lain, harus menyampaikan rencana dan/atau proposal kegiatan usaha kepada BUMN
         Pembina yang nanti akan dilakukan seleksi dan evaluasi atas permohonan yang diajukan
         oleh calon usaha mikro dan usaha kecil.

         BUMN Pembina yang nanti akan dilakukan seleksi dan evaluasi atas permohonan yang
         diajukan oleh calon usaha mikro dan usaha kecil.

         Bagi calon binaan yang memenuhi syarat dan terpilih akan dibuatkan surat perjanjian
         dan/atau kontrak yang berisi syarat dan kondisi tentang hak dan kewajiban yang harus
         dipenuhi para pihak. Namun, sebelum dilakukan perjanjian, calon usaha mikro dan usaha
         kecil binaan tersebut harus terlebih dahulu menyelesaikan proses administrasi terkait
         dengan rencana pemberian modal kerja oleh perusahaan/BUMN bersangkutan.

      5) Teknis pelaksanaan penyaluran Program Pendanaan UMK:
         Dalam pelaksanaan penyaluran Program Pendanaan UMK, BUMN Pembina dapat
         bekerjasama dengan BUMN lain, Anak perusahaan BUMN atau Perusahaan terafiliasi
         BUMN yang memiliki bisnis sebagai lembaga pembiayaan dan perbankan atau memiliki
         kemampuan dalam menyalurkan pinjaman.

         Ketentuan pelaksanaan kerja sama dimaksud di atas dituangkan dalam surat perjanjian
         dan/atau kontrak yang paling sedikit memuat hak dan kewajiban serta tugas dan tanggung
         jawab masing-masing pihak.

      6) Sumber dana Program TJSL BUMN berasal dari:
         i) anggaran kegiatan yang diperhitungkan sebagai biaya pada BUMN pembina dalam
              tahun anggaran berjalan;
         ii) penyisihan sebagian laba bersih BUMN Pembina pada tahun anggaran sebelumnya
              dan/atau;
         iii) sumber lain yang sah sesuai dengan ketentuan peraturan perundang-undangan.

      7) Sumber dana untuk Program Pendanaan UMK, selain sumber dana sebagaimana dimaksud
         pada angka 6) di atas, dapat berasal dari:
         i) saldo dana Program Pendanaan UMK yang teralokasi sampai dengan akhir tahun 2015;
             dan/atau;
         ii) jasa administrasi pinjaman/marjin/bagi hasil, bunga deposito dan/atau jasa giro dari
             dana Program Pendanaan UMK

      8) Besaran dana Program TJSL BUMN sebagaimana dijelaskan pada angka 6.i) dan angka
         6.ii) di atas, ditetapkan dalam rencana kerja anggaran perusahaan yang disahkan oleh
         RUPS/Menteri.

      9) Pembebanan beban operasional Program TJSL BUMN:
         -  Pembebanan beban operasional Program TJSL BUMN menjadi beban BUMN Pembina.
         -  Pembebanan beban kepada usaha mikro dan usaha kecil menjadi bagian dari biaya
            Program TJSL BUMN.




                                               6
Page 696
                    PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                         PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                            CATATAN ATAS LAPORAN KEUANGAN
          Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                    (Disajikan dalam Rupiah)


2.   IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN

     a.   Dasar Penyajian Laporan Keuangan

          Laporan keuangan disusun berdasarkan Standar Akuntansi Keuangan Entitas Tanpa Akuntabilitas
          Publik (SAK ETAP) yang diterbitkan oleh Dewan Standar Akuntansi Keuangan - Ikatan Akuntan
          Indonesia dan mempertimbangkan Surat Edaran Kementerian BUMN No. SE-02/MBU/WK/2012
          yang dikeluarkan tanggal 23 Februari 2012 perihal penetapan pedoman akuntansi Program
          Kemitraan dan Bina Lingkungan.

          Laporan keuangan disusun menggunakan dasar akrual kecuali untuk Laporan Arus Kas disusun
          menggunakan dasar kas. Laporan Arus Kas menyajikan penerimaan dan pengeluaran kas
          yang diklasifikasikan dalam aktivitas operasi, investasi dan pendanaan yang disusun
          dengan menggunakan metode langsung (direct method). Tahun buku Program Pendanaan UMK
          BTN adalah 1 Januari sampai 31 Desember dan mata uang penyajian yang digunakan dalam
          laporan keuangan adalah Rupiah yang juga merupakan mata uang fungsional Program
          Pendanaan UMK BTN.

     b.   Kas dan Setara Kas

          Kas dan setara kas adalah saldo kas dan bank yang dapat dipergunakan secara bebas untuk
          membiayai kegiatan Program Pendanaan UMK tidak digunakan sebagai jaminan. Saldo kas dan
          setara kas dicatat sebesar nilai nominalnya.

     c.    Piutang Pinjaman Mitra Binaan

          Piutang pinjaman mitra binaan adalah pinjaman yang disalurkan oleh PUMK kepada mitra binaan.
          Piutang pinjaman mitra binaan diakui pada saat pinjaman tersebut disalurkan kepada mitra binaan
          dan diukur serta dicatat sebesar jumlah neto setelah dikurangi dengan penyisihan kerugian
          penurunan nilai.
           Penggolongan kualitas piutang pinjaman mitra binaan dilakukan berdasarkan Peraturan Menteri
           BUMN serta dengan ketentuan sebagai berikut:

          i)   lancar, dalam hal pembayaran angsuran pokok dan jasa administrasi pinjaman tepat
               waktu atau terjadi keterlambatan pembayaran angsuran pokok dan/atau jasa administrasi
               pinjaman paling lambat 30 hari dari tanggal jatuh tempo pembayaran angsuran, sesuai
               dengan perjanjian yang telah disetujui bersama,
          ii) kurang lancar, dalam hal terjadi keterlambatan pembayaran angsuran pokok dan/atau jasa
               administrasi pinjaman yang telah melampaui 30 hari sampai dengan 180 hari dari tanggal
               jatuh tempo pembayaran angsuran, sesuai dengan perjanjian yang telah disetujui
               bersama,
          iii) diragukan, dalam hal terjadi keterlambatan pembayaran angsuran pokok dan/atau jasa
               administrasi pinjaman yang telah melampaui 180 hari sampai dengan 270 hari dari tanggal
               jatuh tempo pembayaran angsuran, sesuai dengan perjanjian yang telah disetujui
               bersama,
          iv) macet, dalam hal terjadi keterlambatan pembayaran angsuran pokok dan/atau jasa
               administrasi pinjaman yang telah melampaui 270 hari dari tanggal jatuh tempo
               pembayaran angsuran, sesuai dengan perjanjian yang telah disetujui bersama.




                                                    7
Page 697
                    PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                         PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                            CATATAN ATAS LAPORAN KEUANGAN
          Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                    (Disajikan dalam Rupiah)


2.   IKHTISAR KEBIJAKAN AKUNTANSI YANG SIGNIFIKAN

     d.    Piutang Jasa Administrasi Pinjaman

          Piutang jasa administrasi pinjaman adalah jasa administrasi yang sudah menjadi hak Program
          Pendanaan UMK BTN pada akhir tahun namun belum diterima sampai akhir tahun. Piutang jasa
          administrasi pinjaman mitra binaan dicatat secara akrual mengikuti piutang pinjaman mitra binaan
          dengan kualitas pinjaman lancar dan kurang lancar. Apabila pinjaman mitra binaan memiliki
          kualitas pinjaman diragukan atau macet maka tidak dibentuk akrual atas piutang jasa administrasi
          pinjaman mitra binaan.

     e. Penyisihan Penurunan Nilai Piutang Pinjaman

          Penyisihan penurunan nilai piutang pinjaman adalah besarnya penyisihan atas piutang pinjaman
          yang mungkin tidak tertagih dihitung berdasarkan estimasi kerugian yang tidak dapat ditagih.

          Penyisihan penurunan nilai piutang pinjaman diakui saat akhir periode akuntansi dan diukur dan
          dicatat sebesar estimasi kerugian yang tidak dapat ditagih. Penyisihan penurunan nilai piutang
          pinjaman dihitung secara kolektif berdasarkan persentase tertentu tingkat ketertagihan (collection)
          data historis yang ada.

     f.   Aset Neto

          Aset neto adalah aset dikurangi dengan liabilitas. Aset neto diklasifikasikan menjadi Aset Neto
          Terikat (ANT) dan Aset Neto Tidak Terikat (ANTT).
          ANT adalah sumber daya yang penggunaannya dibatasi untuk tujuan tertentu atau tidak dapat
          digunakan untuk kegiatan operasi normal. ANTT adalah sumber daya yang penggunaannya tidak
          dibatasi untuk tujuan tertentu.

     g. Pendapatan Jasa Administrasi Pinjaman

          Pendapatan jasa administrasi pinjaman adalah pendapatan jasa yang dipungut atas pinjaman
          dana Program Pendanaan UMK yang disalurkan kepada mitra binaan. Akrual pendapatan jasa
          administrasi pinjaman diakui hanya untuk piutang dengan status lancar dan kurang lancar dan
          diukur serta dicatat berdasarkan nilai yang telah jatuh tempo sesuai dengan kontrak.

     h.   Pendapatan Lain-lain

          Pendapatan lain-lain adalah pendapatan yang tidak dapat digolongkan menurut klasifikasi
          pendapatan yang telah disebutkan di atas dan diakui pada saat diterima. Pendapatan lain-lain
          diukur dan dicatat sebesar nilai yang diterima Program Pendanaan UMK BTN.

     i.   Beban (Pembalikan) Penyisihan Penurunan Nilai Piutang Pinjaman
          Beban (pembalikan) penyisihan penurunan nilai piutang pinjaman adalah beban (pendapatan)
          yang timbul akibat pembentukan (pembalikan) penyisihan penurunan nilai atas piutang pinjaman
          yang mungkin tidak tertagih.

     j.   Transaksi dengan pihak berelasi
          Program Pendanaan UMK BTN melakukan transaksi dengan pihak-pihak berelasi seperti yang
          didefinisikan dalam SAK-ETAP tentang “Pengungkapan Pihak-Pihak yang Mempunyai Hubungan
          Istimewa”, yang didefinisikan antara lain:
          a. Pihak yang memiliki pengendalian, pengendalian bersama atau pengaruh signifikan atas
               entitas.
          b. Entitas anak, joint venture, entitas asosiasi dari entitas.
          c. Personel manajemen kunci dari entitas dan entitas induknya (secara agregat).
          d. Pihak-pihak yang mempunyai hubungan istimewa lainnya.
                                                     8
Page 698
                     PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                          PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                             CATATAN ATAS LAPORAN KEUANGAN
           Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                     (Disajikan dalam Rupiah)


3.   PENGGUNAAN PERTIMBANGAN, ESTIMASI DAN ASUMSI

     a.    Pertimbangan
           Sesuai Peraturan Menteri BUMN, beban operasional Program Pendanaan UMK menjadi beban
           PT Bank Tabungan Negara (Persero) Tbk selaku BUMN Pembina.

           Mata uang fungsional Program Pendanaan UMK BTN adalah mata uang dari lingkungan ekonomi
           primer dimana Program Pendanaan UMK BTN beroperasi. Mata uang tersebut adalah mata uang
           yang mempengaruhi pendapatan dan beban dari jasa yang diberikan. Program Pendanaan UMK
           BTN menentukan bahwa mata uang fungsionalnya adalah Rupiah.

     b. Estimasi dan asumsi

           Setiap akhir periode pelaporan, Program Pendanaan UMK BTN menelaah penyisihan penurunan
           nilai secara kolektif terhadap risiko kredit mitra binaan yang dikelompokkan berdasarkan
           karakteristik kredit yang sama, yang meskipun tidak diidentifikasi secara spesifik memerlukan
           penyisihan tertentu, memiliki risiko yang lebih besar tidak tertagih dibandingkan dengan piutang
           yang diberikan kepada mitra binaan. Penyisihan kerugian penurunan nilai piutang pinjaman mitra
           binaan dihitung berdasarkan kajian nilai terkini dan historis tingkat ketertagihan dari piutang.
           Penyisihan piutang mitra binaan dihitung berdasarkan estimasi kerugian yang tidak dapat ditagih
           yaitu secara kolektif berdasarkan persentase tertentu tingkat ketertagihan (collection) data historis
           yang ada (minimal 2 tahun). Penyisihan ini disesuaikan secara berkala untuk mencerminkan hasil
           aktual dan estimasi.


4.   KAS DAN SETARA KAS

     Kas dan Setara Kas merupakan penempatan dana Program Pendanaan UMK pada rekening giro di
     PT Bank Tabungan Negara (Persero) Tbk yang terdiri dari:

                                                                   31 Desember 2023       31 Desember 2022
     Program Pendanaan UMK yaitu:
        - Rekening Giro Kantor Pusat                                   10.970.559.980          11.732.472.238
     Jumlah Kas dan Setara Kas                                         10.970.559.980          11.732.472.238



5. PIUTANG PINJAMAN MITRA BINAAN

     a. Rincian Piutang Pinjaman Mitra Binaan Berdasarkan Wilayah

                                                                   31 Desember 2023       31 Desember 2022
          Wilayah 1*)                                                   6.682.610.608           7.196.558.033
          Wilayah 2**)                                                 12.369.739.165          14.693.532.108
          Wilayah 3***)                                                 8.602.090.487           9.275.498.642
          Wilayah 4****)                                                6.045.421.412           7.156.135.401
          Wilayah 5*****)                                              10.496.088.209          10.874.552.812
          Wilayah 6******)                                              5.126.161.217           6.408.563.891
          Jumlah Piutang Pinjaman                                      49.322.111.098          55.604.840.887
          Dikurangi penyisihan penurunan
            nilai piutang pinjaman                                    (36.893.857.090)        (33.795.371.727)
          Neto                                                         12.428.254.008          21.809.469.160



                                                        9
Page 699
                 PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                      PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                         CATATAN ATAS LAPORAN KEUANGAN
       Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                 (Disajikan dalam Rupiah)


5. PIUTANG PINJAMAN MITRA BINAAN (lanjutan)

   a. Rincian Piutang Pinjaman Mitra Binaan Berdasarkan Wilayah (lanjutan)
      *)        Wilayah 1 terdiri dari kantor cabang pada wilayah Jawa Barat
      **)       Wilayah 2 terdiri dari kantor cabang pada wilayah DKI Jakarta dan Banten
      ***)      Wilayah 3 terdiri dari kantor cabang pada wilayah Jawa Timur, Bali, NTB dan NTT
      ****)     Wilayah 4 terdiri dari kantor cabang pada wilayah Sumatera
      *****)    Wilayah 5 terdiri dari kantor cabang pada wilayah Kalimantan, Sulawesi, Maluku dan Papua
      ******)   Wilayah 6 terdiri dari kantor cabang pada wilayah D.I Yogyakarta dan Jawa Tengah



   b. Rincian Piutang Pinjaman Mitra Binaan Berdasarkan Kualitas Pinjaman

                                                                                         31 Desember 2023
                                                                                             Penyisihan
                                                                                           Penurunan Nilai         Saldo Piutang -
                                                               Saldo Piutang              Piutang Pinjaman              Neto
      Lancar                                                      3.452.460.063                   181.806.639         3.270.653.424
      Kurang lancar                                               7.303.272.049                 1.845.261.632         5.458.010.417
      Diragukan                                                   4.950.359.453                 1.250.769.286         3.699.590.167
      Macet                                                      33.616.019.533                33.616.019.533                     -
      Jumlah Piutang Pinjaman                                    49.322.111.098                36.893.857.090       12.428.254.008



                                                                                         31 Desember 2022
                                                                                             Penyisihan
                                                                                           Penurunan Nilai         Saldo Piutang -
                                                               Saldo Piutang              Piutang Pinjaman              Neto
      Lancar                                                     18.257.799.973                   995.218.754        17.262.581.219
      Kurang lancar                                               4.535.941.159                 1.201.796.907         3.334.144.252
      Diragukan                                                   1.649.878.829                  437.135.140          1.212.743.689
      Macet                                                      31.161.220.926                31.161.220.926                      -
      Jumlah Piutang Pinjaman                                    55.604.840.887               33.795.371.727         21.809.469.160


   c. Perubahan Penyisihan Penurunan Nilai Piutang Pinjaman
      Perubahan penyisihan penurunan nilai piutang pinjaman kepada mitra binaan pada tahun yang
      berakhir pada tanggal-tanggal 31 Desember 2023 dan 2022 adalah sebagai berikut:

                                                                                    31 Desember 2023            31 Desember 2022
      Saldo awal tahun                                                                    33.795.371.727           32.482.857.940
      Beban cadangan penyisihan kerugian
          Penurunan nilai piutang pinjaman selama
          tahun berjalan                                                                   3.098.485.363            1.312.513.787
      Saldo akhir tahun                                                                   36.893.857.090           33.795.371.727


      Manajemen berkeyakinan bahwa penyisihan penurunan nilai piutang yang telah dibentuk telah
      memadai untuk menutupi kemungkinan kerugian atas tidak tertagihnya piutang pinjaman mitra
      binaan.




                                                                    10
Page 700
                   PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                        PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                           CATATAN ATAS LAPORAN KEUANGAN
         Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                   (Disajikan dalam Rupiah)


5. PIUTANG PINJAMAN MITRA BINAAN (lanjutan)

   d. Rincian Piutang Pinjaman Mitra Binaan Berdasarkan Sektor Ekonomi

                                                                                     31 Desember 2023         31 Desember 2022
        Perdagangan                                                                       30.613.297.342         33.731.624.584
        Jasa                                                                               6.898.450.548          9.285.064.565
        Peternakan                                                                         4.100.803.786          4.612.130.235
        Pertanian                                                                          3.487.030.236          3.413.367.092
        Industri                                                                           1.769.186.924          2.274.443.292
        Perikanan                                                                            947.865.230            998.843.804
        Industri Kreatif                                                                      95.368.257            108.079.227
        Perkebunan                                                                           309.949.822             81.129.136
        Usaha Lainnya                                                                      1.100.158.953          1.100.158.952
        Jumlah Piutang Pinjaman                                                           49.322.111.098         55.604.840.887
        Dikurangi penyisihan penurunan
          nilai piutang pinjaman                                                          (36.893.857.090)      (33.795.371.727)
        Neto                                                                              12.428.254.008         21.809.469.160



6. PIUTANG JASA ADMINISTRASI PINJAMAN

   a.    Rincian Piutang Jasa Administrasi Pinjaman Berdasarkan Wilayah

         Rincian piutang jasa administrasi pinjaman berdasarkan wilayah adalah sebagai berikut:
                                                                                     31 Desember 2023         31 Desember 2022
         Wilayah 1*)                                                                            12.784.120           15.104.604
         Wilayah 2**)                                                                           32.614.344           18.816.734
         Wilayah 3***)                                                                          33.567.271           19.264.295
         Wilayah 4****)                                                                         14.559.363           13.733.699
         Wilayah 5*****)                                                                        16.579.631            9.022.797
         Wilayah 6******)                                                                       13.275.522            9.634.169
         Jumlah                                                                                123.380.251           85.576.298


         *)        Wilayah 1 terdiri dari kantor cabang pada wilayah Jawa Barat
         **)       Wilayah 2 terdiri dari kantor cabang pada wilayah DKI Jakarta dan Banten
         ***)      Wilayah 3 terdiri dari kantor cabang pada wilayah Jawa Timur, Bali, NTB dan NTT
         ****)     Wilayah 4 terdiri dari kantor cabang pada wilayah Sumatera
         *****)    Wilayah 5 terdiri dari kantor cabang pada wilayah Kalimantan, Sulawesi, Maluku dan Papua
         ******)   Wilayah 6 terdiri dari kantor cabang pada wilayah D.I Yogyakarta dan Jawa Tengah


   b.   Rincian Piutang Jasa Administrasi Pinjaman Berdasarkan Kualitas Pinjaman

         Rincian piutang jasa administrasi pinjaman berdasarkan kualitas pinjaman adalah sebagai berikut:

         Kualitas Pinjaman                                                          31 Desember 2023          31 Desember 2022
         Lancar                                                                                  6.585.657           48.600.124
         Kurang lancar                                                                         116.794.594           36.976.174
         Jumlah                                                                                123.380.251           85.576.298


   Manajemen berkeyakinan bahwa penyisihan penurunan nilai piutang tidak diperlukan karena seluruh
   piutang akan dapat ditagih.

                                                                     11
Page 701
                     PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                          PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                             CATATAN ATAS LAPORAN KEUANGAN
           Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                     (Disajikan dalam Rupiah)


7.   ASET NETO

                                                                                       31 Desember 2023        31 Desember 2022
     Aset Neto Tidak Terikat
     Saldo awal                                                                              33.627.517.696       33.849.453.767
     Kenaikan (Penurunan) aset neto tidak terikat                                            (2.105.323.457)       (221.936.071)
     Saldo akhir                                                                             31.522.194.239       33.627.517.696


8.   PENDAPATAN JASA ADMINISTRASI PINJAMAN

     Rincian pendapatan jasa administrasi pinjaman berdasarkan wilayah pada tahun yang berakhir pada
     tanggal-tanggal 31 Desember 2023 dan 2022 adalah sebagai berikut:

                                                                                            Tahun yang berakhir pada tanggal
                                                                                       31 Desember 2023        31 Desember 2022
                    *)
     Wilayah 1                                                                                   129.628.607         162.395.039
     Wilayah 2**)                                                                                253.432.577         249.366.893
     Wilayah 3***)                                                                               251.529.759         226.571.716
     Wilayah 4****)                                                                              113.756.591         118.823.060
     Wilayah 5*****)                                                                             171.184.235         166.812.920
     Wilayah 6******)                                                                            146.324.130         164.675.422
     Jumlah                                                                                    1.065.855.899       1.088.645.050

     *)        Wilayah 1 terdiri dari kantor cabang pada wilayah Jawa Barat
     **)       Wilayah 2 terdiri dari kantor cabang pada wilayah DKI Jakarta dan Banten
     ***)      Wilayah 3 terdiri dari kantor cabang pada wilayah Jawa timur, Bali, NTB dan NTT
     ****)     Wilayah 4 terdiri dari kantor cabang pada wilayah Sumatera
     *****)    Wilayah 5 terdiri dari kantor cabang pada wilayah Kalimantan, Sulawesi, Maluku dan Papua
     ******)   Wilayah 6 terdiri dari kantor cabang pada wilayah D.I Yogyakarta dan Jawa Tengah


9.   PENDAPATAN LAIN-LAIN

     Pendapatan lain-lain merupakan pendapatan yang berasal dari sumber di luar kegiatan utama Program
     Pendanaan UMK dan tidak bersifat rutin yakni berupa denda keterlambatan pembayaran angsuran oleh
     debitur. Pendapatan lain-lain pada tahun yang berakhir pada tanggal-tanggal 31 Desember 2023 dan
     2022 adalah masing-masing sebesar Rp2.744.099 dan Rp1.932.666.

10. PERJANJIAN SIGNIFIKAN
     Pada tanggal 13 Oktober 2023, PUMK BTN mengadakan perjanjian kerja sama pengelolaan dana
     penyaluran dana PUMK dengan PT Bank Rakyat Indonesia (Persero) Tbk (Bank BRI). Dalam kerja
     sama ini Bank BRI bertindak untuk PUMK BTN dalam penyaluran ke PUMK dan mengelola atas dana
     yang disalurkan tersebut. Dalam perjanjian tersebut diatur tentang kewajiban Bank BRI dalam
     melaporkan seluruh aktivitas terkait dengan penyaluran dana PUMK yang dananya diperoleh dari
     PUMK BTN.
     Kerja sama di atas sebagai bagian dari pemenuhan atas ketentuan yang mengacu kepada PER BUMN
     yang berlaku.
     Untuk kerja sama di atas, dana awal yang telah diberikan kepada Bank BRI sebesar Rp8.000.000.000
     Sampai dengan 31 Desember 2023 dana yang dikerjasamakan dengan Bank BRI telah tersalur
     sejumlah Rp786.000.000. Belum ada yang dilaporkan Bank BRI terkait dengan dana di atas karena
     telah disepakait aktivitas penyaluran dana baru akan dilakukan pada tahun 2024.

     Dana yang telah dialihkan pengelolaannya sebesar Rp8.000.000.000 di atas, dibukukan oleh PUMK
     BTN pada akun Piutang kepada BUMN Pembina lain/Lembaga penyalur.
                                                                        12
Page 702
                PROGRAM PENDANAAN USAHA MIKRO DAN USAHA KECIL
                     PT BANK TABUNGAN NEGARA (PERSERO) Tbk
                        CATATAN ATAS LAPORAN KEUANGAN
      Tanggal 31 Desember 2023 dan untuk Tahun yang Berakhir pada Tanggal Tersebut
                                (Disajikan dalam Rupiah)


11. TRANSAKSI DENGAN PIHAK BERELASI

   a. Jenis hubungan dan unsur transaksi dengan pihak berelasi
             Pihak berelasi                 Jenis hubungan                  Unsur transaksi pihak berelasi

     PT Bank Tabungan Negara      BUMN Pembina                           Penempatan dana
        (Persero) Tbk
     PT Bank Rakyat Indonesia     Pengendalian melalui Pemerintah        Piutang kepada BUMN Pembina
         (Persero) Tbk                Pusat Republik Indonesia                lain/Lembaga penyalur



                                                              31 Desember 2023        31 Desember 2022
     Aset
     Kas di bank                                                    10.970.559.980         11.732.472.238
     Piutang lain-lain                                               8.000.000.000                      -
     Jumlah                                                         18.970.559.980         11.732.472.238
     Persentase jumlah aset di pihak
         berelasi terhadap jumlah aset                                     60,18%                   34,89%


12. PENYELESAIAN LAPORAN KEUANGAN

  Laporan keuangan ini diselesaikan dan disetujui untuk diterbitkan oleh pengelola pada tanggal
  12 Februari 2024.




                                                 13
Page 703

          
Page 704

          
Page 705
PT Bank Tabungan Negara (Persero) Tbk.
Menara Bank BTN
Jl. Gajah Mada No. 1 Jakarta 10130
Tel.           : 62-21 6336789, 6332666
Fax.           : 62-21 6346704
E-mail         : csd@btn.co.id
Contact Center : 1500 286



2023 Annual Report

KARENA HIDUP GAK CUMA TENTANG HARI INI

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Names mentioned 103 people and organisations named in the text · linked when the evidence is strong

linked org Bank Tabungan Negara (Persero) Tbk · 441 p.1 ×430
linked person Eko Waluyo · Director of Human Capital, Compliance and Legal p.37 ×19
linked person Chandra M. Hamzah · President Commissioner/ Independent p.52 ×8
linked person Iqbal Latanro · Vice-President Commissioner/Independent p.52 ×12
linked person Ahdi Jumhari Luddin* · Independent Commissioner p.52 ×16
linked person Armand B. Arief · Independent Commissioner p.52 ×8
linked person Sentot A. Sentausa · Independent Commissioner p.52 ×17
linked person Andin Hadiyanto · Commissioner p.52 ×18
linked person Herry Trisaputra Zuna* · Commissioner p.52 ×13
linked person Himawan Arief Sugoto · Commissioner p.52 ×13
linked person Nixon L.P. Napitupulu · Vice President Director p.52 ×12
linked person Elisabeth Novie Riswanti · Director of Assets Management p.52 ×19
linked person Setiyo Wibowo · Director of Risk Management p.52 ×21
linked person Hirwandi Gafar · Director of Consumers p.52 ×19
linked person Nofry Rony Poetra · Director of Finance p.52 ×22
linked person Endang A. Suprijatna · Member of the Audit Committee p.52 ×2
linked person Peter Eko Budi Darwito · Member of the Audit Committee p.52 ×10
linked person Hakim Putratama · Director of Institutional Banking* p.57 ×6
linked person Oni Febriarto Rahardjo · President Director p.57 ×9
linked person Chandra Hamzah · President Commissioner/Independent p.58 ×3
linked person Armand Bachtiar Arief · Commissioner p.63 ×5
linked person M. Quraish Shihab · Ketua p.423 ×3
possible org PT Bursa Efek Indonesia p.52 ×5
possible — Jasmin · Director of Distribution and Funding p.52 ×6
possible person Mohammad Hidayat · Anggota p.57 ×5
possible person Adi Prakoso · Audit Committee Member p.58 ×6
possible org Otoritas Jasa Keuangan p.260 ×3
possible person Helmi p.411
possible org Bank Negara (Persero) Tbk p.420 ×2
possible person Hartono's · Komisaris p.421
possible person Tri Wibowo p.423 ×2
possible org Bank (Persero) Tbk p.424 ×2
unresolved org Bank BTN’s Human Capital Endstate p.3
unresolved org Ministry of SOE Provisions p.4
unresolved org Minister of Communication and Information p.5
unresolved org Bank BTN’s p.10 ×3
unresolved org Bank BTN Competency p.10
unresolved org Ministry of SOEs Competencies p.11
unresolved org Bank BTN Pension Program p.13
unresolved org Bank BTN Pension Fund p.13
unresolved org Bank Pension Fund Regulations State Savings (Persero) Tbk. p.13 ×2
unresolved org Minister of SOE. Each p.15
unresolved org Minister of BUMN No. SK- p.22
unresolved org Minister of State-integration p.26
unresolved org Bank Indonesia p.30 ×7
unresolved org Financial Services Authority p.30 ×20
unresolved org Bank BTN CSIRT p.30
unresolved org Bank BTN’s IT p.31 ×2
unresolved org Minister of State-Owned Enterprises p.31 ×8
unresolved org Minister of State- p.33
unresolved person Nixon L. p.37
unresolved org Tabungan Negara (Persero) Tbk. p.44 ×8
unresolved person Governance. Ratam p.48
unresolved org Ministry of Laws and Human Rights p.48 ×2
unresolved org As one of the State-Owned Enterprises under a public p.48
unresolved org largest shareholder of the Company is the Republic p.48
unresolved org (60,00%), which places the Republic of Indonesia as p.48
unresolved — Controlling Shareholder. In addition, the Republic p.48
unresolved — shareholders other than the Controlling ShareholderControlling p.48
unresolved org PT Kustodian Sentral Efek Indonesia p.52 ×5
unresolved org PT Datindo Entrycom p.52 ×6
unresolved org Indonesia Stock Exchange p.52 ×13
unresolved person Haru Koesmahargyo · President Director p.52 ×10
unresolved person Notary Ashoya Ratam · Notaris p.52 ×16
unresolved org Young Global Limited p.56 ×2
unresolved org Deposit Insurance Corporation p.56
unresolved org Bank BTN Sustainable Bonds IV Phase II Year p.56
unresolved person Notary Yumna Shabrina p.58
unresolved person Heru Budi Hartono · Commissioner p.59 ×9
unresolved person Apponited Mr. Mohammad Yusuf Permana · Commissioner p.59 ×6
unresolved — Appointed Mr. Andi Nirwoto · Director p.59 ×22
unresolved org PT Datindo Entrycom. Published p.60
unresolved — Eko Djoeli Heripoerwanto · Commissioner p.60
unresolved org Minister of State-Owned Enterprises Number PER- p.62 ×2
unresolved — Eko D. Heripoerwanto · Commissioner p.62
unresolved org Minister of Law and Human Rights p.65
unresolved — CSD · Corporate Secretary p.68
unresolved — Institutions · Institution Name p.72
unresolved org in which the Company is a party must be declared the nature · attended by a minimum of 2/3 (two-thirds) of the total p.72
unresolved — such transaction or contract. · made by a member of the Board of directors who is entitled p.72
unresolved — economic interests conflict with personal interests, · include the event, date, time, place of the meeting, and p.72
unresolved org 1. Prioritize the interest of the Company and not reduce · 6. The summon to the Meeting of the Board of Directors shall be p.72
unresolved — 2. Avoid making decisions in situations and conditions · of Directors with sufficient receipt or by post no later than 5 p.72
unresolved person Permis- · Director p.79
unresolved org Bank BTN Communication Strategy p.79
unresolved org Bank Tabungan p.411 ×4
unresolved org Bank Pemerintah Pengganti Undang-undang p.411
unresolved org Menteri Kehakiman p.411
unresolved person Notary Muhani Salim p.411 ×2
unresolved org Ministry of Justice p.411
unresolved org Menteri Hukum dan Hak Asasi Manusia Republik Indonesia p.411
unresolved org Ministry of Finance p.413 ×2
unresolved org Menteri Keuangan p.413
unresolved person Nixon Lambok Pahotan Napitupulu · Direktur Utama p.422 ×3
unresolved org Negara (Persero) Tbk p.422
unresolved org Bank Rp p.423
unresolved person Ramon Armando · Sekretaris Perusahaan p.423
unresolved person Achmad Chaerul · Sekretaris Perusahaan p.423
unresolved person Mohammad Bagus Teguh Perwira · Anggota p.423
unresolved person Muhammad Faiz · Anggota p.423
unresolved person Mohammad Bagus Tegus Perwira · Anggota p.424
unresolved person Endang A.Suprijatna p.424

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