20260210_BTPN_Laporan Informasi dan Fakta Material_32026645_lamp3.pdf

2/10/26, 12:18 PM                                                                   Fitch Affirms Bank SMBC Indonesia at 'AAA(idn)'; Outlook Stable

 Linked to Ultimate Parent's IDR: SMBCI's rating is linked to SMFG's Long-Term Issuer Default Rating (IDR). This reflects our
 expectation that any extraordinary support, if required, would flow from the Japanese government through SMFG and SMBC
 to SMBCI, with SMFG acting as the single point of entry. This view reflects Indonesia's strategic importance as a market for
 many Japanese companies and SMBCI's important role as part of the group's strategy in Asian emerging markets.


 Strategically Important Subsidiary: SMBCI enables the group to cater to Japanese clients operating in Indonesia and is a key
 part of the group's multi-franchise strategy, targeting high growth countries in emerging Asia. SMFG, as one of Japan's three
 largest banking groups, benefits from strong government support propensity and we expect such support to flow to its
 strategically important subsidiaries such as SMBCI.


 This considers SMBCI's close operational integration within the group and the potential for high reputational damage to the
 ultimate parent if the subsidiary were to default, given their shared branding and the parent's majority ownership of SMBCI.
 SMBCI's small absolute size also means potential support required would be immaterial. SMBCI's total assets and equity
 accounted for only 0.7% and 3.2%, respectively, of SMFG's consolidated assets and equity at end-September 2025.

 RATING SENSITIVITIES

 Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade

 A downgrade of the National Long-Term Rating could result from a weakening in the bank's overall credit profile relative to
 other entities within the universe of Indonesian national ratings. This could result from a two-notch downgrade of SMFG's
 Long-Term IDR to 'BBB'.


 A downgrade could also result from any perceived weakening in SMFG's propensity to support SMBCI. This could arise from a
 declining role for SMBCI in SMFG, perhaps due to a reassessment of its business prospects in Indonesia, or a major change in
 ownership, although Fitch sees little risk of these occurring in the near to medium term.

 Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade

 There is no rating upside, as the ratings are already at the highest point on the National Rating scale.


https://www.fitchratings.com/research/banks/fitch-affirms-bank-smbc-indonesia-at-aaa-idn-outlook-stable-09-02-2026                                    2/8

2/10/26, 12:18 PM                                                                   Fitch Affirms Bank SMBC Indonesia at 'AAA(idn)'; Outlook Stable

 REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING

 The principal sources of information used in the analysis are described in the Applicable Criteria.

 PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS

 SMBCI's ratings are credit-linked to SMFG's Long-Term IDR.

                                                                              RATING ACTIONS



      ENTITY / DEBT                                     RATING                                                                                      PRIOR 



      PT Bank SMBC Indonesia Tbk                                                                                                                      AAA(idn) Rating
                                                           Natl LT       AAA(idn) Rating Outlook Stable               Affirmed
                                                                                                                                                      Outlook Stable


                                                                                                                                                      F1+(idn)
                                                           Natl ST        F1+(idn)        Affirmed



 VIEW ADDITIONAL RATING DETAILS


 FITCH RATINGS ANALYSTS

 Utami Ratnasari
 Senior Analyst
 Primary Rating Analyst
 +62 21 5061 0509
 utami.ratnasari@fitchratings.com
 PT Fitch Ratings Indonesia
 DBS Bank Tower 24th Floor, Suite 2403 Jl. Prof.Dr. Satrio Kav 3-5 Jakarta 12940



https://www.fitchratings.com/research/banks/fitch-affirms-bank-smbc-indonesia-at-aaa-idn-outlook-stable-09-02-2026                                                      3/8

2/10/26, 12:18 PM                                                                   Fitch Affirms Bank SMBC Indonesia at 'AAA(idn)'; Outlook Stable

 Grace Wu
 Senior Director
 Committee Chairperson
 +852 2263 9919
 grace.wu@fitchratings.com

 MEDIA CONTACTS

 Leslie Tan
 Singapore
 +65 6796 7234
 leslie.tan@thefitchgroup.com


 Vivian Kam
 Hong Kong
 +852 2263 9612
 vivian.kam@thefitchgroup.com


 Additional information is available on www.fitchratings.com

 PARTICIPATION STATUS

 The rated entity (and/or its agents) or, in the case of structured finance, one or more of the transaction parties participated in
 the rating process except that the following issuer(s), if any, did not participate in the rating process, or provide additional
 information, beyond the issuer’s available public disclosure.

 APPLICABLE CRITERIA

 National Scale Rating Criteria (pub. 23 Dec 2020)

 Bank Rating Criteria (pub. 22 Mar 2025) (including rating assumption sensitivity)


https://www.fitchratings.com/research/banks/fitch-affirms-bank-smbc-indonesia-at-aaa-idn-outlook-stable-09-02-2026                                    4/8

2/10/26, 12:18 PM                                                                   Fitch Affirms Bank SMBC Indonesia at 'AAA(idn)'; Outlook Stable

 ADDITIONAL DISCLOSURES

 Solicitation Status
 Endorsement Policy

 ENDORSEMENT STATUS

 PT Bank SMBC Indonesia Tbk                                                                                                                           -



 DISCLAIMER & DISCLOSURES

 All Fitch Ratings (Fitch) credit ratings are subject to certain limitations and disclaimers. Please read these limitations and
 disclaimers by following this link: https://www.fitchratings.com/understandingcreditratings. In addition, the following
 https://www.fitchratings.com/rating-definitions-document details Fitch's rating definitions for each rating scale and rating
 categories, including definitions relating to default. ESMA and the FCA are required to publish historical default rates in a
 central repository in accordance with Articles 11(2) of Regulation (EC) No 1060/2009 of the European Parliament and of the
 Council of 16 September 2009 and The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019 respectively.


 Published ratings, criteria, and methodologies are available from this site at all times. Fitch's code of conduct, confidentiality,
 conflicts of interest, affiliate firewall, compliance, and other relevant policies and procedures are also available from the Code
 of Conduct section of this site. Directors and shareholders' relevant interests are available at
 https://www.fitchratings.com/site/regulatory. Fitch may have provided another permissible or ancillary service to the rated
 entity or its related third parties. Details of permissible or ancillary service(s) for which the lead analyst is based in an ESMA-
 or FCA-registered Fitch Ratings company (or branch of such a company) can be found on the entity summary page for this
 issuer on the Fitch Ratings website.


 In issuing and maintaining its ratings and in making other reports (including forecast information), Fitch relies on factual
 information it receives from issuers and underwriters and from other sources Fitch believes to be credible. Fitch conducts a
 reasonable investigation of the factual information relied upon by it in accordance with its ratings methodology, and obtains
 reasonable verification of that information from independent sources, to the extent such sources are available for a given

https://www.fitchratings.com/research/banks/fitch-affirms-bank-smbc-indonesia-at-aaa-idn-outlook-stable-09-02-2026                                        5/8

2/10/26, 12:18 PM                                                                   Fitch Affirms Bank SMBC Indonesia at 'AAA(idn)'; Outlook Stable

 security or in a given jurisdiction. The manner of Fitch's factual investigation and the scope of the third-party verification it
 obtains will vary depending on the nature of the rated security and its issuer, the requirements and practices in the jurisdiction
 in which the rated security is offered and sold and/or the issuer is located, the availability and nature of relevant public
 information, access to the management of the issuer and its advisers, the availability of pre-existing third-party verifications
 such as audit reports, agreed-upon procedures letters, appraisals, actuarial reports, engineering reports, legal opinions and
 other reports provided by third parties, the availability of independent and competent third- party verification sources with
 respect to the particular security or in the particular jurisdiction of the issuer, and a variety of other factors. Users of Fitch's
 ratings and reports should understand that neither an enhanced factual investigation nor any third-party verification can
 ensure that all of the information Fitch relies on in connection with a rating or a report will be accurate and complete.
 Ultimately, the issuer and its advisers are responsible for the accuracy of the information they provide to Fitch and to the
 market in offering documents and other reports. In issuing its ratings and its reports, Fitch must rely on the work of experts,
 including independent auditors with respect to financial statements and attorneys with respect to legal and tax matters.
 Further, ratings and forecasts of financial and other information are inherently forward-looking and embody assumptions and
 predictions about future events that by their nature cannot be verified as facts. As a result, despite any verification of current
 facts, ratings and forecasts can be affected by future events or conditions that were not anticipated at the time a rating or
 forecast was issued or affirmed. Fitch Ratings makes routine, commonly-accepted adjustments to reported financial data in
 accordance with the relevant criteria and/or industry standards to provide financial metric consistency for entities in the same
 sector or asset class.


 The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Fitch also
 provides information on best-case rating upgrade scenarios and worst-case rating downgrade scenarios (defined as the 99th
 percentile of rating transitions, measured in each direction) for international credit ratings, based on historical performance. A
 simple average across asset classes presents best-case upgrades of 4 notches and worst-case downgrades of 8 notches at the
 99th percentile. For more details on sector-specific best- and worst-case scenario credit ratings, please see Best- and Worst-
 Case Measures under the Rating Performance page on Fitch’s website.


 The information in this report is provided “as is” without any representation or warranty of any kind, and Fitch does not
 represent or warrant that the report or any of its contents will meet any of the requirements of a recipient of the report. A
 Fitch rating is an opinion as to the creditworthiness of a security. This opinion and reports made by Fitch are based on
https://www.fitchratings.com/research/banks/fitch-affirms-bank-smbc-indonesia-at-aaa-idn-outlook-stable-09-02-2026                                    6/8

2/10/26, 12:18 PM                                                                   Fitch Affirms Bank SMBC Indonesia at 'AAA(idn)'; Outlook Stable

 established criteria and methodologies that Fitch is continuously evaluating and updating. Therefore, ratings and reports are
 the collective work product of Fitch and no individual, or group of individuals, is solely responsible for a rating or a report. The
 rating does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. Fitch is not
 engaged in the offer or sale of any security. All Fitch reports have shared authorship. Individuals identified in a Fitch report
 were involved in, but are not solely responsible for, the opinions stated therein. The individuals are named for contact
 purposes only. A report providing a Fitch rating is neither a prospectus nor a substitute for the information assembled, verified
 and presented to investors by the issuer and its agents in connection with the sale of the securities. Ratings may be changed or
 withdrawn at any time for any reason in the sole discretion of Fitch. Fitch does not provide investment advice of any sort.
 Ratings are not a recommendation to buy, sell, or hold any security. Ratings do not comment on the adequacy of market price,
 the suitability of any security for a particular investor, or the tax-exempt nature or taxability of payments made in respect to
 any security. Fitch receives fees from issuers, insurers, guarantors, other obligors, and underwriters for rating securities. Such
 fees generally vary from US$1,000 to US$750,000 (or the applicable currency equivalent) per issue. In certain cases, Fitch will
 rate all or a number of issues issued by a particular issuer, or insured or guaranteed by a particular insurer or guarantor, for a
 single annual fee. Such fees are expected to vary from US$10,000 to US$1,500,000 (or the applicable currency equivalent).
 The assignment, publication, or dissemination of a rating by Fitch shall not constitute a consent by Fitch to use its name as an
 expert in connection with any registration statement filed under the United States securities laws, the Financial Services and
 Markets Act of 2000 of the United Kingdom, or the securities laws of any particular jurisdiction. Due to the relative efficiency
 of electronic publishing and distribution, Fitch research may be available to electronic subscribers up to three days earlier
 than to print subscribers.


 For Australia, New Zealand, Taiwan and South Korea only: Fitch Australia Pty Ltd holds an Australian financial services license
 (AFS license no. 337123) which authorizes it to provide credit ratings to wholesale clients only. Credit ratings information
 published by Fitch is not intended to be used by persons who are retail clients within the meaning of the Corporations Act
 2001.Fitch Ratings, Inc. is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical
 Rating Organization (the “NRSRO”). While certain of the NRSRO's credit rating subsidiaries are listed on Item 3 of Form
 NRSRO and as such are authorized to issue credit ratings on behalf of the NRSRO (see
 https://www.fitchratings.com/site/regulatory), other credit rating subsidiaries are not listed on Form NRSRO (the “non-
 NRSROs”) and therefore credit ratings issued by those subsidiaries are not issued on behalf of the NRSRO. However, non-
 NRSRO personnel may participate in determining credit ratings issued by or on behalf of the NRSRO.
https://www.fitchratings.com/research/banks/fitch-affirms-bank-smbc-indonesia-at-aaa-idn-outlook-stable-09-02-2026                                    7/8

2/10/26, 12:18 PM                                                                   Fitch Affirms Bank SMBC Indonesia at 'AAA(idn)'; Outlook Stable

 dv01, a Fitch Solutions company, and an affiliate of Fitch Ratings, may from time to time serve as loan data agent on certain
 structured finance transactions rated by Fitch Ratings.


 Copyright © 2026 by Fitch Ratings, Inc., Fitch Ratings Ltd. and its subsidiaries. 33 Whitehall Street, NY, NY 10004. Telephone:
 1-800-753-4824, (212) 908-0500. Reproduction or retransmission in whole or in part is prohibited except by permission. All
 rights reserved.


 READ LESS


 SOLICITATION STATUS

 The ratings above were solicited and assigned or maintained by Fitch at the request of the rated entity/issuer or a related third
 party. Any exceptions follow below.


 Fitch's solicitation status policy can be found at www.fitchratings.com/ethics.

 ENDORSEMENT POLICY

 Fitch’s international credit ratings produced outside the EU or the UK, as the case may be, are endorsed for use by regulated
 entities within the EU or the UK, respectively, for regulatory purposes, pursuant to the terms of the EU CRA Regulation or the
 UK Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019, as the case may be. Fitch’s approach to endorsement
 in the EU and the UK can be found on Fitch’s Regulatory Affairs page on Fitch’s website. The endorsement status of
 international credit ratings is provided within the entity summary page for each rated entity and in the transaction detail
 pages for structured finance transactions on the Fitch website. These disclosures are updated on a daily basis.




https://www.fitchratings.com/research/banks/fitch-affirms-bank-smbc-indonesia-at-aaa-idn-outlook-stable-09-02-2026                                    8/8